• International Journal of Computer Science & Network Security
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• v.21 no.12
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• pp.309-315
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• 2021

The purpose of the article is to analyze the functioning of economic systems in the context of the development of their potential in a circular economy. It is determined that the functioning of economic systems to ensure their sustainability should meet modern challenges and provide for the formation of competitive institutional architecture, the introduction of structural and regulatory innovations, the transition to an innovative model of development. The specific principles of functioning of economic systems include openness, nonlinearity, multivectority, dynamism, emergence, uncertainty about the development of economic processes. It is substantiated that the linear nature of development and equilibrium are not dominant in the functioning of economic systems, and increasing the level of economic efficiency should go hand in hand with minimizing the activities of enterprises, which necessitates the use of circular economy. The main prerequisites for the transition to a circular economy are analyzed. It is determined that the basic concept of the circular economy involves the development of a system of production and consumption, which is based on processing, reuse, repair, product sharing, change of consumption patterns and new business models and systems. The main elements of the circular economy include: a closed cycle, the use of renewable energy sources, systems thinking. The correlation of the principles of sustainable development and the peculiarities of the application of the circular economy is analyzed. It is determined that the circular economy contrasts with the traditional linear economic model, which is based on the model of "take-do-consume-throw away". The advantages and disadvantages due to the use of the principles of circular economy are given. Based on the study, steps are identified to accelerate the transition from a linear economy to a circular economy.

• Transactions of the Korean Society of Automotive Engineers
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• v.17 no.2
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• pp.20-25
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• 2009

For many years there has been a trend to increased electrical energy consumption in cars caused by the replacement of mechanical parts by electronic or mechanical devices as well as the introduction of new electronic features. Whereas the number of electrical consumers continues to increase, the battery is still the only passive power source available. Because of this reason, needs for driving power of the engine accessories such as alternator system have increased. Usually, conventional alternator system is directly driven by the crankshaft of engine with belt. Since this increase bring about additional fuel economy. To improve this system automobile makers develops new controled alternator system. This paper focuses on fuel economy improvement according to control of alternator. In this paper, researches are performed on effect of type of Alternator system on fuel economy by experiment. And it is also calculated the effect on vehicle fuel economy using computer simulation with AVL cruise software. As a result, 0.64% of vehicle fuel economy improvement can be achieved in a vehicle with controled Alternator system compared to a vehicle with conventional Alternator system in NEDC mode.

• East Asian Economic Review
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• v.17 no.2
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• pp.161-206
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• 2013

Since the global financial crisis in 2008, the world economy has been suffering from the Great Recession characterized by high and persistent unemployment as well as drastic fall in asset prices. Real business cycle theory or new-Keynesian economics which has been the dominant paradigm in macroeconomics for the last four decades is unable to explain the high and persistent unemployment during the Great Recession. This implies that the economics of Keynes should be taken seriously again as a tool to explain the Great Recession. Farmer (2012) proposes a new way of interpreting the economics of Keynes by providing it with a solid micro-foundation based on labor markets with search. According to Farmer (2012), aggregate economic activity independently depends on the long-term self-fulfilling expectations about the stock prices. As a consequence, the government or the central bank should implement a policy that influences the public's confidence about the stock market. For an open economy like the Korean economy, it is not only stock price but also the price of asset such as house that matters more for the aggregate economic activity. Households in the Korean economy hold more than 70 percent of their wealth in the form of real estate asset, especially housing asset. This makes the public's confidence about the future prices of houses even more important in explaining the business cycles of the Korean economy. Policymakers should implement policies to improve the confidence of households about the housing market to recover from the recession caused by a fall in house prices. Little theoretical work has been done in explaining fluctuations in the aggregate economic activity from the point of house prices. This paper develops a small open economy model with traded and non-traded capital based on Farmer (2012) and shows that the aggregate economic activity also independently depends on the households' self-fulfilling expectations about the future prices of non-traded asset such as houses.

• Journal of Distribution Science
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• v.20 no.9
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• pp.127-139
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• 2022

Purpose: As sharing economy is becoming increasingly relevant to people's lives, we want to understand why people participate in the sharing economy. We propose and validate three factors that are likely to influence consumers' choice of participating in the sharing economy at distribution market. Also, we found antecedents that affect these variables. These antecedents include appointment and return convenient, extended operating time, variety-seeking need, usage irregularity, other's clean usage, and feeling of membership between users. Research design, data, and methodology: This research collected 341 questionnaire data from participants in China. These participants were asked about the usage of DiDi, the most popular shareware in China. The data analysis and hypothesis testing were conducted using SPSS and Amos. Results: Usage convenience, usefulness of short-term usage, and trust in other users were found to have a positive impact on consumers' intention to participate in the sharing economy. In addition, we found that all the antecedents affect these variables positively. Conclusions: This research provides new driving factors for consumer participation in the sharing economy. Moreover, these findings will help managers develop marketing strategies for inducing the consumers to participate in the sharing economy.

• Journal of Agricultural Extension & Community Development
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• v.23 no.1
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• pp.53-72
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• 2016

Our main concerns in this paper are with the several kinds of social economy organization in rural South Korea, in where social exclusion is likely to be prevalent over time. Approximately, there are 2,500~3,000 social economy organizations which have been set up from 1990s. Most of their operational social aims are either to offer jobs or to provide social services for the vulnerable social groups in rural communities. They have several normative principles as a social economy organization. But the two principles were less supported than the others; 1) the community's initiative and participation, and 2) sharing surplus with community. The social economy organizations are involved in various types of business. The greatest number of social economy organizations are doing businesses in agriculture and agro-industry. On average, their value of asset is worth of 300 million wons. They are indebted for 130 million wons, averagely. Their average surplus is 110 million wons. Most of them are small businesses. It is enough to say that the social economy is at an early stage in rural South Korea. The social economy is confronted with some challenges, as follows. Firstly, the social economy organizers should be based on the needs of community in both setting up a new social economy organization and managing businesses. Secondly, networking and cooperation between social economy organizations should be expanded and strengthened. Thirdly, the sound governance with public sector should be built.

• Proceedings of the Korean Institute of Interior Design Conference
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• 2007.05a
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• pp.63-66
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• 2007

Rapid social change in economy, society and information technology takes the initiative of changing office formation. It also requires new change in workspace function for the office workers. This research is about the change of office formation chronologically according to the change in economy, society and cultural diversity. The study also shows the directions for the workspace design considering the new demand and flow of the new office formation. Mobile Office, Virtual Office and Moduler Office are the new office formation. Also, the new workspace requires the common space where the workers can communicate diversely and share their knowledge and ideas, enhancing collaboration and productivity of the new workspace.

• Journal of the Korean Academic Society of Industrial Cluster
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• v.1 no.1
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• pp.47-66
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• 2007

The progress of digital revolution leads to technology and industry infusion which make new products and new commodity markets in the existing industries. Under the circumstance of new innovation patterns in industries and globalization of the world, innovation firms adapt different evolution processes for different business situations. Technological innovation enhances the competitiveness of fins in the business world. This paper shows the researches on technological innovation which make constant economy growth in the knowledge based economy. And this paper also suggests the policy on technological innovation for the future growth of society. Main focus of this paper are as follows. First, the theoretical survey on technological innovation is reviewed. Second, the program and the supporting system for technological innovation in the USA and Europe are investigated. Third, the situation and problems of Korea is analysed. Fourth, strategy and suggestions on the development of technological innovation in the 21st century knowledge based economy is suggested through the window of cluster and regional economy development.

• 한국신재생에너지학회:학술대회논문집
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• 2005.06a
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• pp.370-373
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• 2005

In this research, we presented the regenerative braking algorithms considering fuel economy and charging oftenness, and also analyzed these algorithms. The first algorithm was the regenerative braking algorithm for the ideal recovery of kinetic energy. The HEV using this algorithm had high fuel economy, on the other hand frequent charging was occurred. The second algorithm was the regenerative braking algorithm for reduction of the charging oftenness. Using this algorithm, the HEV had the low charging oftenness and small loss of fuel economy.

• Journal of Navigation and Port Research
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• v.29 no.9
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• pp.813-819
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• 2005

The purpose of this paper is to present some main economic factors which influence Gaza Seaport. Without direct access to the international market, the Palestinian economy will continue its dependence on Israeli economy mainly in employment, transport facilitation, and international trade. The greatest potential for Palestinian economic growth lies in trade. The port is important for creating new job opportunities, and for enhancing exporting capabilities, which are the most essential elements for development of the Palestinian economy. Israeli policies and procedures incur Palestinian exporters additional transportation costs when delivering their products to Israeli Ports or when transit these products to neighboring countries through Israeli controlled area. The public profit for the port is greater than the private profit. Therefore, constructing the port will have a great effect on the Palestinian economy. There are many challenges facing the port, some of them are the political stability, the economies of scale, and Israeli security measures and procedures.

• East Asian Economic Review
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• v.27 no.2
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• pp.115-143
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• 2023

In this paper, we address how the monetary authority should react to financial market status and exchange rate movements in a small open economy New Keynesian model with financial frictions due to asymmetric information between savers and borrowers. We show that the small economy with financial frictions is more susceptible to the exogenous shocks under the fixed exchange rate regime than under the flexible exchange regime. The small economy experiences a more prolonged and deeper economic recession under the fixed exchange rate regime than under the flexible exchange rate regime. The monetary policy taking into account external finance premium is better than the interest rate rule without considering the financial market status.