The purpose of this paper is to find the direction by analyzing the synchronization phenomenon and the change rate of apartment charter rate in Korea, Seoul, Busan, Daegu, Gwangju and Daejeon. For this purpose, this study used a total of 239 monthly data from January 2000 to November 2019 in Kookmin Bank housing statistics. In the correlation analysis, Korea showed the highest relationship in order of Seoul, Busan, Incheon and Daegu. Seoul showed a low figure of 0.3 without any distinctive features from other cities. On the other hand, Busan, Daejeon and Daegu showed high correlations. As a result of the regression analysis, Korea and 5 major cities were all moving in the same direction with positive(+) values. And Busan and Seoul responded significantly to Korea. In the shock response, Korea is most shocked by the change in Seoul. Daegu is relatively shocked by Busan and Daejeon. Seoul's charter rate has declined most strongly in the last three years. Therefore, it is time to be careful not to incur losses due to gap investment. If we look at the relationship between the charter rate and the sale price in future studies, we can better understand the Korean apartment market.
The purpose of this presentation is to review the situation of the Cheju broiler industry peculiarized with the integrated production and marketing system to some degree, which is not prevailed in the whole broiler industry in Korea, so as to study the case of the Cheju industry from the viewpoint of an economic integration. The economic integration in the broiler industry is grouped into three patterns: non-integration, quasi-integration and complete integration, which generally exist under the different type of market competition. The quasi-integration tends to be formed at all phases where the complete integration is not fully implemented, but the non-integration has begun to change its nature into partially integrated structure. The Cheju broiler industry is characterized by the geographical location of isolated market so that factor supplies and broiler products are marketed in the different conditions from those of mainland Korea, somewhat in an oligopolistic pattern. It was since early 1980's that the industry successfully had three dressing plants merged into one by virtue of entire growers ownership, which opened an era of an integrated industry centered on the function of dressing birds. The case of Cheju broiler industry today is to be referred to as a typical quasi-integration which is coordinated the function between growing and dressing birds directly and extended the functional cooperation to distribution of products indirectly, while factor supplies are traded independently. As a result of a quasi-integration, the growers are able to receive a fixed price set by the dressing plant of growers that has the power to adjust the supply of and demand for broilers produced and consumed in the Island. There are some problems, however, in the integration of the Cheju broiler industry, stemming mainly from the process of the structure change, : 1) the difficulty of controlling the production of broilers, 2) continuing pressure on the integration by non-integrated sectors, 3) the challenge on the stabilized broiler market from the mainland, 4) limited effectiveness of consumer education activities, and 5) lack of leadership for the industry development through integration. It is projected that the partially integrated Cheju broiler industry will be continually developed toward the direction of a complete integration in due course, as the currently independent supply sectors are to be backward integrated. The case of the Cheju broiler integration, therefore, could be used as a reference for making the whole broiler industry in Korea develop toward the integrated structure in the future.
Journal of the Korean association of regional geographers
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v.7
no.1
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pp.21-34
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2001
Summarized results of this study that examined the characteristics of farm household in suburban areas classified by the fanning types are as follows. When it was looked into with the side of farm household and his family, the type of the farm household in suburban areas are related to the quality of fanning labor rather than the quantity of it. Regardless of the type of the farm household, it depends upon the family labor (usually men and wives). And the age of farm manager is an important part in the quality of fanning labor. The size of the farm household is related to the individual fanning labor. The size of self-sufficient crops(mainly rice) farm household will be small as the farmer gets to be old. But the size of commercial crops farm household has less tendency to change in terms with the age of farm manager. The fanning commercialism takes an important part in the maintenance and development of suburban agricultural areas. But, in fact, there is a shortage of farming labor. So the physical condition of farmland is the most important part in agricultural durability. After this study, we can conclude that we won't have enough chance to solve the problem of family member separation and shortage of fanning labor even though it is in the suburban area or in the profitable farm until we give them more enough chance to get a job(except fanning) and the better education infrastructure. To make matters worse, the aggravation of farm house-hold's economy due to unstable price of farming products' threatens the agricultural durability. Consequently, in order to get a development of agriculture and rural community, a qualitative change with improvement of agricultural conditions and of products distribution system is needed.
This paper examines the recent changes of urban center in metropolis in terms of land use. Jung-Gu, Daegu City is analyzed for a case study, and publicly notified individual land price data of 2000 and 2011 are used as analysis materials. The analyzing results show that a lot of residential land uses diminished in urban center, but residential function is still significant despite such decrease. Commercial land uses also decreased. Office land uses increased, but the increase is insignificant. On the contrary, unused or miscellaneously used land increased considerably. The phenomena implicate that land uses in the urban center are not positive under the influence of inner city decline. Overall, more land use changes occurred in the frame than in the core of urban center. That is, land uses in the core is more stable than them in the frame. However, decreasing commercial land uses in the core is noticeable, comparing to the frame. Mixed land uses for residence and commerce are most deconcentrated and office land uses most concentrated. Mean center point and standard deviation distance of land uses did not change significantly from 2000 to 2011, despite considerable change of land uses. The finding reveals that land use changes are widely occurring in urban center.
Paradigm depending only on fossil fuel for building heat source is rapidly changing. Accelerating the change, as it has been known, is obligation for reducing green house gas coming from use of fossil fuel, i.e. reaction to United Nations Framework Convention on Climate Change. In addition, factors such as high oil price, unstable supply, weapon of petroleum and oil peak, by replacing fossil fuel, contributes to advance of environmental friendly renewable energy which can be continuously reusable. Therefore, current new energy policies, beyond enhancing effectiveness of heat using equipments, are to make best efforts for national competitiveness. Our country supports 11 areas for new renewable energy including sun light, solar heat and wind power. Among those areas, ocean thermal energy specifies tidal power generation using tide of sea, wave and temperature differences, wave power generation and thermal power generation. But heat use of heat source from sea water itself has been excluded as non-utilized energy. In the future, sea water heat source which has not been used so far will be required to be specified as new renewable energy. This research is to survey local heating system in Europe using sea water, central solar heating plants, seasonal thermal energy store and to analyze large scale central solar heating plants in German. Seasonal thermal energy store necessarily need to be equipped with large scale thermal energy store. Currently operating central solar heating system is a effective method which significantly enhances sharing rate of solar heat in a way that stores excessive heat generating in summer and then replenish insufficient heat for winter. Construction cost for this system is primarily dependent on large scale seasonal heat store and this high priced heat store merely plays its role once per year. Since our country is faced with 3 directional sea, active research and development for using sea water heat as cooling and heating heat source is required for seashore villages and building units. This research suggests how to utilize new energy in a way that stores cooling heat of sea water into seasonal thermal energy store when temperature of sea water is its lowest temperature in February based on West Sea and then uses it as cooling heat source when cooling is necessary. Since this method utilizes seasonal thermal energy store from existing central solar heating plant for heating and cooling purpose respectively twice per year maximizing energy efficiency by achieving 2 seasonal thermal energy store, active research and development is necessarily required for the future.
In most of studies on market efficiency, the stability of risk measures and the normality of residuals unexplained by the pricing model are presumed. This paper re-examines stock splits, taking the possible violation of two assumptions into accounts. The results does not change the previous studies. But, the size of excess returns during the 2-week period before announcements decreases by 43%. The results also support that betas change around announcements and the serial autocorrelation of residuals is caused by events. Based on the results, the existing excess returns are most likely explained as a compensation to old shareholders for unwanted risk increases in their portfolio, or by uses of incorrect betas in testing models. In addition, the model suggested in the paper provides a measure for the speed of adjustment of the market to the new information arrival and the intensity of information contents.
Journal of the Korea Academia-Industrial cooperation Society
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v.18
no.4
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pp.685-693
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2017
This study aims to effectively respond to urban local rainstorms by classifying the risk against flood damage for each use district. The risk classification is based on sensitivity analysis of the socio-economic damage caused by local rainstorms in Changwon city, Korea by a Fuzzy model using data, such as the districts that provide institutional bases for land use, land prices, which estimate the property values, and floor area ratios, which measures the density and areas of flood damage. The analysis result indicated that flood damage in five districts of Changwon (Masan happo-gu, Masan Hoewon-gu, Sungsan-gu, Euichang-gu, and Jinhae-gu) is highest in the order of commercial areas, residential areas, industrial areas, and forests, which was attributed to high land price and floor area ratio of commercial areas. On the other hand, specific analysis in Masan Hoewon-gu and Sungsan-gu was different from the previous result, indicating that the risk against flood damage may vary according to the districts depending on their local conditions. The analysis from this study can be applied to future urban planning and be used as a guideline to estimate the potential flood damage. Overall, this study is meaningful in that it proposes an effective management of land use as a new resolution to mitigate of urban flood damage within a broader perspective of climate change and urbanization.
Korean Journal of Construction Engineering and Management
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v.22
no.3
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pp.79-90
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2021
In domestic public construction, disputes are increasing due to differences among stakeholders regarding contract price adjustment. In particular, the actual cost-plus fee for overhead costs due to the schedule extension cannot be agreed upon at the administrative phase, and most of them seek judicial judgment. Thus, this study aims to propose a 'sufficiently satisfactory' alternative to reach an agreement before disputes in order to minimize disputes related to the calculation of additional overhead costs. To this end, this study proposes three alternatives based on the rate method. Firstly, when calculating additional overhead costs, it is not calculated as an actual cost-plus-fee method, but as a rate compared to direct labor costs among net direct costs. Secondly, the calculated indirect labor costs are compensated for up to the legal maximum of legal limit costs such as general management costs, profits and so on. Thirdly, it reflects overhead costs increased or decreased due to change orders. Risks were analyzed by collecting expert opinions on the proposed methods and applying actual cases. Finally, as a result of investigating the level of consensus for each stakeholder, it was confirmed that all stakeholders could agree regardless of the size of the company. The result of this study is expected to as a useful tool among stakeholders in the construction fields that can be able to easily agreed upon.
On of Revolutionary changes of the commercial facilities is appearance of supermarket since the 1970's. It means modernization of retail establishment size. Simultaneously, and then path of distribution resulted in change. Namely, function of wholesale and retail is mixed, path of distribution is shortened, and then distribution function become more influential. By these changes, producer, manager and consumer can be benefit. That is, a change of commercial part is accurance to change of society and economy of region. The aim of the study is to examine commercial properties of supermarket in Kwangju city, and then, it is concerned with life of residents. Factor analysis is applied to the study. The results are as follows: Four factors are abstracted. The first factor of large explanation on properties of supermarket is accounted for years of management, land lent, number of establishments of wholesale${\cdot>$retail${\cdot>$service, age of manager, distance of neighbour residence, and so on. Namely, these may be regarded as commercial environmental feature. Moreover, regional distribution on the ground of factor score is concentrated on CBD and it's neighbour area, which are the areas of highest land lent in Kwangju city. The second factor is accounted for number of supermarket and number of population in each 'dong' (smallest factor-scored area is new housing complex in an outer ring of Kwangju. The third factor is accounted for number of workers, and size of establishment. Regional distribution is concentrated on neighbour of CBD and the outer ring area. These are scattered in contrast to the first and second factors which are continuous. The fourth factor is noted on a sale price of non-foodstuffs, that is, a feature of formation of goods. The highest factor score areas are the CBD, neighbour area of the CBD and a part of an outer ring area. On the other hand, the property of supermarket is preferred to 'the near distance' according to consumer's viewpoint. Furthermore, the location of supermarket, which is actually used by residents, is almost near residental area. It means that condition of location of supermarket is important in the distance of neighbour residence. Besides, supermarkets in Kwangju city are actually situated at residental area, that is, those locations in Kwangju city correspond to preference of consumer's viewpoint. Moreover, this result corresponds to the first factor of the analysis. Namely, the distance of property of supermarket from neighbour residence has very important effect on both of consumer and manager. In the end, supermarket is strongly related to life of residents. It means that supermarket is also responsible to quality of life. On the other hand, commercial facilities have been changed according to consumer's needs and social environments. For these reasons, commercial properties of supermarket must be reexamined in according to diverse commercial facilities and change of commercial environments.
Internet commerce has been growing at a rapid pace for the last decade. Many firms try to reach wider consumer markets by adding the Internet channel to the existing traditional channels. Despite the various benefits of the Internet channel, a significant number of firms failed in managing the new type of channel. Previous studies could not cleary explain these conflicting results associated with the Internet channel. One of the major reasons is most of the previous studies conducted analyses under a specific market condition and claimed that as the impact of Internet channel introduction. Therefore, their results are strongly influenced by the specific market settings. However, firms face various market conditions in the real worlddensity and disutility of using the Internet. The purpose of this study is to investigate the impact of various market environments on a firm's optimal channel strategy by employing a flexible game theory model. We capture various market conditions with consumer density and disutility of using the Internet.
shows the channel structures analyzed in this study. Before the Internet channel is introduced, a monopoly manufacturer sells its products through an independent physical store. From this structure, the manufacturer could introduce its own Internet channel (MI). The independent physical store could also introduce its own Internet channel and coordinate it with the existing physical store (RI). An independent Internet retailer such as Amazon could enter this market (II). In this case, two types of independent retailers compete with each other. In this model, consumers are uniformly distributed on the two dimensional space. Consumer heterogeneity is captured by a consumer's geographical location (ci) and his disutility of using the Internet channel (${\delta}_{N_i}$).
shows various market conditions captured by the two consumer heterogeneities.
(a) illustrates a market with symmetric consumer distributions. The model captures explicitly the asymmetric distributions of consumer disutility in a market as well. In a market like that is represented in
(c), the average consumer disutility of using an Internet store is relatively smaller than that of using a physical store. For example, this case represents the market in which 1) the product is suitable for Internet transactions (e.g., books) or 2) the level of E-Commerce readiness is high such as in Denmark or Finland. On the other hand, the average consumer disutility when using an Internet store is relatively greater than that of using a physical store in a market like (b). Countries like Ukraine and Bulgaria, or the market for "experience goods" such as shoes, could be examples of this market condition.
summarizes the various scenarios of consumer distributions analyzed in this study. The range for disutility of using the Internet (${\delta}_{N_i}$) is held constant, while the range of consumer distribution (${\chi}_i$) varies from -25 to 25, from -50 to 50, from -100 to 100, from -150 to 150, and from -200 to 200.
summarizes the analysis results. As the average travel cost in a market decreases while the average disutility of Internet use remains the same, average retail price, total quantity sold, physical store profit, monopoly manufacturer profit, and thus, total channel profit increase. On the other hand, the quantity sold through the Internet and the profit of the Internet store decrease with a decreasing average travel cost relative to the average disutility of Internet use. We find that a channel that has an advantage over the other kind of channel serves a larger portion of the market. In a market with a high average travel cost, in which the Internet store has a relative advantage over the physical store, for example, the Internet store becomes a mass-retailer serving a larger portion of the market. This result implies that the Internet becomes a more significant distribution channel in those markets characterized by greater geographical dispersion of buyers, or as consumers become more proficient in Internet usage. The results indicate that the degree of price discrimination also varies depending on the distribution of consumer disutility in a market. The manufacturer in a market in which the average travel cost is higher than the average disutility of using the Internet has a stronger incentive for price discrimination than the manufacturer in a market where the average travel cost is relatively lower. We also find that the manufacturer has a stronger incentive to maintain a high price level when the average travel cost in a market is relatively low. Additionally, the retail competition effect due to Internet channel introduction strengthens as average travel cost in a market decreases. This result indicates that a manufacturer's channel power relative to that of the independent physical retailer becomes stronger with a decreasing average travel cost. This implication is counter-intuitive, because it is widely believed that the negative impact of Internet channel introduction on a competing physical retailer is more significant in a market like Russia, where consumers are more geographically dispersed, than in a market like Hong Kong, that has a condensed geographic distribution of consumers.