• Journal of Environmental Policy
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• v.7 no.4
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• pp.35-55
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• 2008

Assessing vulnerability to climate change is the first step to take when setting up appropriate adaptation strategies. Adaptive capacity to climate change is the important factor comprising vulnerability. An adaptive capacity index in agricultural water management system was developed considering agricultural water supply and demand for rice production in Jeolla-do, Korea. The agricultural water supply was assumed to be equal to the amount of water stored in the major agricultural reservoirs, while data on the agricultural water demand was obtained from the dynamic simulation results by Korea Agriculture Corporation(KAC). The spatial unit for analysis was conducted at the county(Si, Gun, Gu) level and temporal scale was based on every month from 1991-2003. Adaptive capacity for drought stress index(ACDS index) was calculated as the percentage of data points where the irrigated water supply was greater than the crop water demand. The ACDS index was compared with SWSCI(Standard Water Storage Capacity Index) and the relationship showed high degree of fit($R^2$=0.84) using the exponential function, indicating that the developed ACDS index is useful for evaluating the status of the balance between agricultural water supply and demand, especially for the small sized agricultural reservoirs. This study provided the methodological basis for developing climate change vulnerability index in agricultural water system which is projected to be more frequently exposed to drought condition in the future due to climate change. Further research should be extended to the study on the water demand of the crops other than rice and to the projection of the change in ACDS index in the future.

• Journal of Korean Society of Forest Science
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• v.103 no.1
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• pp.30-36
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• 2014

This study examined the change in carbon (C) storage of soil, forest floor and coarse woody debris (CWD) for different thinning intensities in Pinus densiflora stands 4 years after the treatment. Two study stands were located in Jeongseon (Stand 1) and Gwangneung Experiment Forest (Stand 2). Three plots for different thinning intensities based on stand density were established at each stand in 2008; control plot (0%), T20 plot (20%) and T30 plot (30%) in Stand 1 and control plot (0%), T39 plot (39%) and T74 plot (74%) in Stand 2, respectively. The C storage of soil (0-50 cm), forest floor and CWD was measured in 2012. Total C storage of T30 plot ($109.80t{\cdot}C{\cdot}ha^{-1}$) was significantly higher than that of control plot ($86.69t{\cdot}C{\cdot}ha^{-1}$) in Stand 1. In stand 2, total C storage of T74 plot ($97.02t{\cdot}C{\cdot}ha^{-1}$) was significantly higher than that of control plot ($72.04t{\cdot}C{\cdot}ha^{-1}$) and T39 plot ($63.25t{\cdot}C{\cdot}ha^{-1}$). Total C storage of the heaviest thinned plot was the highest in each study stand. Since this study examined initial effects of thinning on C storage of soil, forest floor and CWD, further studies would be necessary to evaluate the long-term effects.

• KDI Journal of Economic Policy
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• v.12 no.2
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• pp.51-79
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• 1990

Research on technical efficiency, an important dimension of market performance, had received little attention until recently by most industrial organization empiricists, the reason being that traditional microeconomic theory simply assumed away any form of inefficiency in production. Recently, however, an increasing number of research efforts have been conducted to answer questions such as: To what extent do technical ineffciencies exist in the production activities of firms and plants? What are the factors accounting for the level of inefficiency found and those explaining the interindustry difference in technical inefficiency? Are there any significant international differences in the levels of technical efficiency and, if so, how can we reconcile these results with the observed pattern of international trade, etc? As the first in a series of studies on the technical efficiency of Korea's manufacturing industries, this paper attempts to answer some of these questions. Since the estimation of technical efficiency requires the use of plant-level data for each of the five-digit KSIC industries available from the Census of Manufactures, one may consture the findings of this paper as empirical evidence of technical efficiency in Korea's manufacturing industries at the most disaggregated level. We start by clarifying the relationship among the various concepts of efficiency-allocative effciency, factor-price efficiency, technical efficiency, Leibenstein's X-efficiency, and scale efficiency. It then becomes clear that unless certain ceteris paribus assumptions are satisfied, our estimates of technical inefficiency are in fact related to factor price inefficiency as well. The empirical model employed is, what is called, a stochastic frontier production function which divides the stochastic term into two different components-one with a symmetric distribution for pure white noise and the other for technical inefficiency with an asymmetric distribution. A translog production function is assumed for the functional relationship between inputs and output, and was estimated by the corrected ordinary least squares method. The second and third sample moments of the regression residuals are then used to yield estimates of four different types of measures for technical (in) efficiency. The entire range of manufacturing industries can be divided into two groups, depending on whether or not the distribution of estimated regression residuals allows a successful estimation of technical efficiency. The regression equation employing value added as the dependent variable gives a greater number of "successful" industries than the one using gross output. The correlation among estimates of the different measures of efficiency appears to be high, while the estimates of efficiency based on different regression equations seem almost uncorrelated. Thus, in the subsequent analysis of the determinants of interindustry variations in technical efficiency, the choice of the regression equation in the previous stage will affect the outcome significantly.

• KDI Journal of Economic Policy
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• v.12 no.2
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• pp.95-120
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• 1990

The underpricing of new shares of a firm that are offered to the public for the first time (initial offerings) is well known and has puzzled financial economists for a long time since it seems at odds with the optimal behavior of the owners of issuing firms. Past attempts by financial economists to explain this phenomenon have not been successful in the sense that the explanations given by them are either inconsistent with the equilibrium theory or implausible. Approaches by such authors as Welch or Allen and Faulhaber are no exceptions. In this paper, we develop a signalling model of capital investment to explain the underpricing phenomenon and also analyze the efficiency of investment. The model focuses on the information asymmetry between the owners of issuing firms and general investors. We consider a firm that has been owned and operated by a single owner and that has a profitable project but has no capital to develop it. The profit from the project depends on the capital invested in the project as well as a profitability parameter. The model also assumes that the financial market is represented by a single investor who maximizes the expected wealth. The owner has superior information as to the value of the firm to investors in the sense that it knows the true value of the parameter while investors have only a probability distribution about the parameter. The owner offers the representative investor a fraction of the ownership of the firm in return for a certain amount of investment in the firm. This offer condition is equivalent to the usual offer condition consisting of the number of issues to sell and the unit price of a share. Thus, the model is a signalling game. Using Kreps' criterion as the solution concept, we obtained an essentially unique separating equilibrium offer condition. Analysis of this separating equilibrium shows that the owner of the firm with high profitability chooses an offer condition that raises an amount of capital that is short of the amount that maximizes the potential profit from the project. It also reveals that the fraction of the ownership of the firm that the representative investor receives from the owner of the highly profitable firm in return for its investment has a value that exceeds the investment. In other words, the initial offering in the model is underpriced when the profitability of the firm is high. The source of underpricing and underinvestment is the signalling activity by the owner of the highly profitable firm who attempts to convince investors that his firm has a highly profitable project by choosing an offer condition that cannot be imitated by the owner of a firm with low profitability. Thus, we obtained two main results. First, underpricing is a result of a signalling activity by the owner of a firm with high profitability when there exists information asymmetry between the owner of the issuing firm and investors. Second, such information asymmetry also leads to underinvestment in a highly profitable project. Those results clearly show the underpricing entails underinvestment and that information asymmetry leads to a social cost as well as a private cost. The above results are quite general in the sense that they are based upon a neoclassical profit function and full rationality of economic agents. We believe that the results of this paper can be used as a basis for further research on the capital investment process. For instance, one can view the results of this paper as a subgame equilibrium in a larger game in which a firm chooses among diverse ways to raise capital. In addition, the method used in this paper can be used in analyzing a wide range of problems arising from information asymmetry that the Korean financial market faces.

• Journal of the Korean Institute of Landscape Architecture
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• v.40 no.3
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• pp.22-31
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• 2012

This study was prompted by the recognition that the tenn "Community design" has recently been used in diverse practical fields without prior discussion about its underpinnings, a potentially problematic state of affairs. Based on these problems, this study studied the special quality about the concept of community design. Community design can be discussed from two perspectives. The first views community design as a design that concerns the community, an inhabited area populated with people who have common interests, at least in part because of geographic proximity to each other. The second sees community design as a movement that started in the 1960s and places a great importance on democratic decision making, communication, and collaboration. This study will focus on the latter. This branch of community design encompasses an advocacy planning approach, in which design professionals represent deprived communities in their resistance against comprehensive redevelopment. This was associated to the wider social protest movements of the mid and late 1960s. In the 1970s, this branch of community design was developed alongside community design centers, which provided local-level technical assistance to the communities on a number of issues, such as design and planning. The discussion about community design started in earnest from the early 1980s. A review of the literature m community design reveals several characteristics. First, community design deals with the relationship between the physical environment and several aspects of a region, including the social and cultural. Second, it involves community participation, which many scholars believe is the core of community design. Specifically, community design has been characterized by increased participation and democratic debate and decision making. The Third is about communication methods. Since the 1960s, diverse methods had been developed to promote communication effectively. Finally, community design must consider the relationship between designers, who typically value aesthetics and efficiency of form, and the needs of the community with which they are working. Indeed, some scholars believe that this relationship is generally contentious, although the designer can also be thought of as the facilitator of the community's needs. As community design practice becomes more prevalent, a review of the foundation of institution and policy and the role of experts is also needed. The community design movement bas been theorized ex post facto through diverse discussion that has sought to ascribe meaning and direction to its practice. In other words, the relationship between this theory and practice is cyclical. Therefore, this study can contribute to the virtuous circle.

• Journal of Energy Engineering
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• v.23 no.2
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• pp.125-148
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• 2014

This paper performs a historical analysis on the various factors contributing to the current carbon lock-in of Korean electricity industry by using techo-institutional complex. The possibilities of the industry's carbon lock-out toward more sustainable development are also investigated. It turns out that market, firm, consumer, and government factors are all responsible for the development of the carbon lock-in of Korean power industry; the Korean government consistently favoring large power plants based on the economy of scale; below-cost electricity tariff; inflation policy to suppress increases in power price; rapid demand growth in summer and winter seasons; rigidities of electricity tariff; and expansion of gas-fired and imported coal-fired large power plants. On the other hand, except for nuclear power generation and smart grid, environment laws and new and renewable energy laws are the other remaining factors contributing to the carbon lock-out. Considering three key points that Korea is an export-oriented economy, the generation mix is the most critical factor to decide the amounts of carbon emission in the power industry, and the share of industry and commercial power consumption is over 85%, it is unlikely that Korea will achieve the carbon lock-out of power industry in the near future. Therefore, there are needs for more integrated approaches from market, firm, consumer, and government all together in order to achieve the carbon lock-out in the electricity industry. Firstly, from the market perspective, it is necessary to persue more active new and renewable energy penetration and to guarantee consumer choices by mitigating the incumbent's monopoly power as in the OECD countries. Secondly, from the firm perspective, the promotion of distributed energy system is urgent, which includes new and renewable resources and demand resources. Thirdly, from the consumer perspective, more green choices in the power tariff and customer awareness on the carbon lock-out are needed. Lastly, the government shall urgently improve power planning frameworks to include the various externalities that were not properly reflected in the past such as environmental and social conflict costs.

• Journal of Korea Technology Innovation Society
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• v.12 no.4
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• pp.788-818
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• 2009

Renewable energy refers to solar energy, biomass energy, hydrogen energy, wind power, fuel cell, coal liquefaction and vaporization, marine energy, waste energy, and liquidity fuel made out of byproduct of geothermal heat, hydrogen and coal; it excludes energy based on coal, oil, nuclear energy and natural gas. Developed countries have recognized the importance of these energies and thus have set the mid to long term plans to develop and commercialize the technology and supported them with drastic political and financial measures. Considering the growing recognition to the field, it is necessary to analysis up-to-now achievement of the government's related projects, in the standards of type of renewable energy, management of sectional goals, and its commercialization. Korean government is chiefly following suit the USA and British policies of developing and distributing renewable energy. However, unlike Japan which is in the lead role in solar rays industry, it still lacks in state-directed support, participation of enterprises and social recognition. The research regarding renewable energy has mainly examinedthe state of supply of each technology and suitability of specific region for applying the technology. The evaluation shows that the research has been focused on supply and demand of renewable as well as general energy and solution for the enhancement of supply capacity in certain area. However, in-depth study for commercialization and the increase of capacity in industry followed by development of the technology is still inadequate. 'Cost-benefit model for each energy source' is used in analysis of technology development of renewable energy and quantitative and macro economical effects of its commercialization in order to foresee following expand in related industries and increase in added value. First, Investment on the renewable energy technology development is in direct proportion both to the product and growth, but product shows slightly higher index under the same amount of R&D investment than growth. It indicates that advance in technology greatly influences the final product, the energy growth. Moreover, while R&D investment on renewable energy product as well as the government funds included in the investment have proportionate influence on the renewable energy growth, private investment in the total amount invested has reciprocal influence. This statistic shows that research and development is mainly driven by government funds rather than private investment. Finally, while R&D investment on renewable energy growth affects proportionately, government funds and private investment shows no direct relations, which indicates that the effects of research and development on renewable energy do not affect government funds or private investment. All of the results signify that although it is important to have government policy in technology development and commercialization, private investment and active participation of enterprises are the key to the success in the industry.

• Journal of Nutrition and Health
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• v.50 no.1
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• pp.85-97
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• 2017

Purpose: This study was conducted to investigate dietary habits related to weight reduction and snack intake habits of $4^{th}$ to $5^{th}$ grade elementary students located in Jeju-si, Jeju, South Korea. Methods: The $4^{th}$ and $5^{th}$ grade elementary school students (total n = 234, equally matched numbers of normal weight children and overweight/obese children (n = 117/group)) were surveyed using a questionnaire and a 24-hour dietary recall method in Oct 2015. Results: The percentage of students who experienced reduced food intake to control weight was 26.3% in the normal weight group (NG) and 77.6% in the obese group (OG). Most frequently answered meal for reduced intake was snacks in the NG and dinner in the OG. Percentages of daily calorie intake among subjects were 17.2% for breakfast, 33.8% for lunch, 29.7% for dinner, and 19.3% for snacks. Frequency of snack intake was 2.1 times a week in NG and 1.6 times a week in OG, which showed a statistical difference between body weight groups. Types of snack foods were distinctly different depending on where children consumed them, although no difference was observed between NG and OG. In addition, snack intake level of low energy and nutrient-dense foods was significantly lower in the OG compared to the NG, whereas snack intake level of energy dense and low-nutritive foods was not different between the OG and NG. Conclusion: Taken together, snack intake level with consideration of frequency and amount of snack intake showed that children in the OG consumed significantly less low energy and nutrient-dense foods compared to the NG. Therefore, nutritional education for choosing healthy snack foods for children regardless of body weight status is crucial based on family-school links.

• Journal of the Korean Society of Food Science and Nutrition
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• v.39 no.10
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• pp.1545-1554
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• 2010

Korean government will set up the nationwide food safety system with strict control of hazardous nutrients like sugar, fatty acids and sodium as well as advanced nutrition education system. In addition, almost one hundred percent of school food service rate forced the government to consider more effective ways to upgrade the nutritional status of school meals. The object of our study was to provide the data on content and consumption of sugar in school meal for the nationwide project. For this purpose, we surveyed the sugar content of 842 school meal menus and their intake level for 154 days in 8 schools in Daejeon and Chungcheong Province. Sugar contents, the sum of the quantity of 5 sugars commonly detected in food, were analysed with HPLC-RID (Refractive Index Detector). Sugar intakes were calculated by multiplying the intake of each menu to the sugar content of that menu. The sugar content was highest in the desserts, which include fruit juices, dairy products and fruits. Sugar content of side dish was high in sauces and braised foods. Sugar intake from one dish is high in beverage and dairy product, and one dish meals contribute greatly to sugar intake because of their large amount of meal intake. The average lunch meal intakes of second grade and fifth grade elementary school students were 244 g/meal and 304 g/meal, respectively. The meal intake of middle school student was 401 g/meal. The average sugar intake from one day school lunch was 4.22 g (4.03 g on elementary and 5.31 g on middle school student), which is less than 10% of daily sugar reference value for Koreans. The result of this study provides exact data of sugar intake pattern based on the content of sugar which is matched directly to the meals consumed by the students.

• The Korean Society of Law and Medicine
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• v.19 no.2
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• pp.139-171
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• 2018

The 「Act on Remedies for Injuries from Medical Malpractice and Mediation of Medical Disputes」(hereinafter referred to as 'the Act on Mediation of Medical Disputes') provides that the state should compensate the victims of medical accidents occurred irresistibly in childbirth despite that health and medical service personnel fulfilled their duty of care for their damage within the range of its budget(Article 46 of the Act on Mediation of Medical Disputes). Given that victims of medical accidents could expect demage recovery only through lawsuits thus far, this act can be said to be a groundbreaking act. However, However, as 30% of the costs for such medical accident compensation projects are borne by those who have records of childbirth among the founders of health and medical institutions (Article 21 of the Act on Mediation of Medical Disputes), there has been a question about whether doctors are held responsible despite that the accidents such as the deaths of mothers and newborn babies occurred irresistibly without doctors' fault. However, recently, the Constitutional Court ruled that 'the range of founders of health and medical institutions' and 'share ratios of finances for compensation' in Article 46 (3) of the Act on Mediation of Medical Disputes' related to the imposition of the share of costs are institutional (Constitutional Court ruling dated April 26, 2018, 2015Heonga13, hereinafter referred to as 'the ruling in the case'). Although the ruling in the case was made based on only the principle of statutory reservation and the principle of ban on comprehensive authorization, this paper added a practical judgment. This paper proved that the share of costs in this case has the nature of burden charges in pursuit of study and does not infringe on the property rights of the founders of health medical institutions even in light of the principle of proportionality because there is a legitimate reason for imposing the burden charge. The imposition of the share of costs in the system for compensation for medical accidents occurred irresistibly is against the principle of liability with fault in part. However, the medical accident compensation projects are rational a national policy for the victims of medical accidents and the medical world clearly gains some benefits from the effect to terminate medical disputes. The expansion of finances for compensation through the payments of the share of costs will reduce the suffering and misunderstanding of victims of medical accidents occurred in the process of childbirth and will be very helpful to the construction of stable treatment environments of medical workers by quickly establishing the medical accident compensation projects as such.