• KDI Journal of Economic Policy
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• v.32 no.4
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• pp.153-195
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• 2010

The recent global financial crisis has been the outcome of, among other things, the mismatch between institutions and the reality of the market in the current global financial system. The International financial institutions (IFIs) that were designed more than 60 years ago can no longer effectively meet the challenges posed by the current global economy. While the global financial market has become integrated like a single market, there is no international lender of last resort or global regulatory body. There also has been a rapid shift in the weight of economic power. The share of the Group of 7 (G7) countries in global gross domestic product (GDP) fell and the share of emerging market economies increased rapidly. Therefore, the tasks facing us today are: (i) to reform the IFIs -mandate, resources, management, and governance structure; (ii) to reform the system such as the international monetary system (IMS), and regulatory framework of the global financial system; and (iii) to reform global economic governance. The main focus of this paper will be the IMS reform and the role of the Group of Twenty (G20) summit meetings. The current IMS problems can be summarized as follows. First, the demand for foreign reserve accumulation has been increasing despite the movement from fixed exchange rate regimes to floating rate regimes some 40 years ago. Second, this increasing demand for foreign reserves has been concentrated in US dollar assets, especially public securities. Third, as the IMS relies too heavily on the supply of currency issued by a center country (the US), it gives an exorbitant privilege to this country, which can issue Treasury bills at the lowest possible interest rate in the international capital market. Fourth, as a related problem, the global financial system depends too heavily on the center country's ability to maintain the stability of the value of its currency and strength of its own financial system. Fifth, international capital flows have been distorted in the current IMS, from EMEs and developing countries where the productivity of capital investment is higher, to advanced economies, especially the US, where the return to capital investment is lower. Given these problems, there have been various proposals to reform the current IMS. They can be grouped into two: demand-side and supply-side reform. The key in the former is how to reduce the widespread strong demand for foreign reserve holdings among EMEs. There have been several proposals to reduce the self-insurance motivation. They include third-party insurance and the expansion of the opportunity to borrow from a global and regional reserve pool, or access to global lender of last resort (or something similar). However, the first option would be too costly. That leads us to the second option - building a stronger globalfinancial safety net. Discussions on supply-side reform of the IMS focus on how to diversify the supply of international reserve currency. The proposals include moving to a multiple currency system; increased allocation and wider use of special drawing rights (SDR); and creating a new global reserve currency. A key question is whether diversification should be encouraged among suitable existing currencies, or if it should be sought more with global reserve assets, acting as a complement or even substitute to existing ones. Each proposal has its pros and cons; they also face trade-offs between desirability and political feasibility. The transition would require close collaboration among the major players. This should include efforts at the least to strengthen policy coordination and collaboration among the major economies, and to reform the IMF to make it a more effective institution for bilateral and multilateral surveillance and as an international lender of last resort. The success on both fronts depends heavily on global economic governance reform and the role of the G20. The challenge is how to make the G20 effective. Without institutional innovations within the G20, there is a high risk that its summits will follow the path of previous summit meetings, such as G7/G8.

• The Korean Society of Law and Medicine
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• v.21 no.1
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• pp.223-259
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• 2020

With COVID-19 spreading rapidly around the world, research and development issues on treatments and vaccines for the virus are of high interest. Among them, Remdesivir was the first to show noticeable therapeutic effects and began clinical trials, with each country authorizing the use of the drug through emergency approval. However, Gilead Co., Ltd., the developer of Remdesivir, received a lot of criticism from civic groups for submitting the application for the marketing authorization as an orphan drug. This is because when a new drug got a marketing authorization as an orphan drug could be granted an exclusive status for seven year. The long-term exclusive status of an orphan drug comes from the policy purpose of motivating pharmaceutical companies to develop treatment opportunities for patients suffering from rare diseases, which was not appropriate to apply to infectious disease treatments. This paper provides a review of the problems and improvement directions of the domestic system through comparative legal consideration against the United States, Europe and Japan for the statutes which give exclusive status to medicines. The domestic system has a fundamental problem that it does not have explicit provisions in the statute in the manner of granting exclusive status, and that it uses the review system to give it exclusive status indirectly. In addition, in the case of orphan drugs, the "Rare Diseases Management Act" and the "Regulations on Examination of Items Permission and Reporting of Drugs" provide overlapping review periods, and despite the relatively long monopoly period, there seems to be no check clause to recover exclusive status in the event of a change in circumstances. Given that biopharmaceuticals are difficult to obtain patents, the lack of such provisions is a pity of domestic legislation, although granting exclusive rights may be a great motivation to induce drug development. In the United States, given that the first biosimilar also has a one-year monopoly period, it can be interpreted that domestic legislation is quite strictly limited to granting exclusive status to biopharmaceuticals. The need for improvement of the domestic system will be recognized in that it could undermine local pharmaceutical companies' willingness to develop biopharmaceuticals in the future, and in that it is also necessary to harmonize international regulations. Taking advantage of the emergence of COVID-19 as an opportunity, we look again at the problems of the domestic system that grants exclusive rights to medicines and hope that an overall revision of the relevant legislation will be made to establish a unified legal basis.

• Journal of Intelligence and Information Systems
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• v.16 no.4
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• pp.195-211
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• 2010

An exhibition is defined as market events for specific duration to present exhibitors' main product range to either business or private visitors, and it also plays a key role as effective marketing channels. Especially, as the effect of the opinions of the visitors after the exhibition impacts directly on sales or the image of companies, exhibition organizers must consider various needs of visitors. To meet needs of visitors, ubiquitous technologies have been applied in some exhibitions. However, despite of the development of the ubiquitous technologies, their services cannot always reflect visitors' preferences as they only generate information when visitors request. As a result, they have reached their limit to meet needs of visitors, which consequently might lead them to loss of marketing opportunity. Recommendation systems can be the right type to overcome these limitations. They can recommend the booths to coincide with visitors' preferences, so that they help visitors who are in difficulty for choices in exhibition environment. One of the most successful and widely used technologies for building recommender systems is called Collaborative Filtering. Traditional recommender systems, however, only use neighbors' evaluations or behaviors for a personalized prediction. Therefore, they can not reflect visitors' dynamic preference, and also lack of accuracy in exhibition environment. Although there is much useful information to infer visitors' preference in ubiquitous environment (e.g., visitors' current location, booth visit path, and so on), they use only limited information for recommendation. In this study, we propose a booth recommendation methodology using Sequential Association Rule which considers the sequence of visiting. Recent studies of Sequential Association Rule use the constraints to improve the performance. However, since traditional Sequential Association Rule considers the whole rules to recommendation, they have a scalability problem when they are adapted to a large exhibition scale. To solve this problem, our methodology composes the confidence database before recommendation process. To compose the confidence database, we first search preceding rules which have the frequency above threshold. Next, we compute the confidences of each preceding rules to each booth which is not contained in preceding rules. Therefore, the confidence database has two kinds of information which are preceding rules and their confidence to each booth. In recommendation process, we just generate preceding rules of the target visitors based on the records of the visits, and recommend booths according to the confidence database. Throughout these steps, we expect reduction of time spent on recommendation process. To evaluate proposed methodology, we use real booth visit records which are collected by RFID technology in IT exhibition. Booth visit records also contain the visit sequence of each visitor. We compare the performance of proposed methodology with traditional Collaborative Filtering system. As a result, our proposed methodology generally shows higher performance than traditional Collaborative Filtering. We can also see some features of it in experimental results. First, it shows the highest performance at one booth recommendation. It detects preceding rules with some portions of visitors. Therefore, if there is a visitor who moved with very a different pattern compared to the whole visitors, it cannot give a correct recommendation for him/her even though we increase the number of recommendation. Trained by the whole visitors, it cannot correctly give recommendation to visitors who have a unique path. Second, the performance of general recommendation systems increase as time expands. However, our methodology shows higher performance with limited information like one or two time periods. Therefore, not only can it recommend even if there is not much information of the target visitors' booth visit records, but also it uses only small amount of information in recommendation process. We expect that it can give real?time recommendations in exhibition environment. Overall, our methodology shows higher performance ability than traditional Collaborative Filtering systems, we expect it could be applied in booth recommendation system to satisfy visitors in exhibition environment.

• Korean Journal of Agricultural and Forest Meteorology
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• v.19 no.1
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• pp.19-26
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• 2017

Surface air temperature ($T_{air}$) is a key variable for the meteorology and climatology, and is a fundamental factor of the terrestrial ecosystem functions. Satellite remote sensing from the Moderate Resolution Imaging Spectroradiometer (MODIS) provides an opportunity to monitor the $T_{air}$. However, the several problems such as frequent cloud cover and mountainous region can result in substantial retrieval error and signal loss in MODIS $T_{air}$. In this study, satellite-based $T_{air}$ was estimated under both clear and cloudy sky conditions in Gangwon Province using Aqua MODIS07 temperature profile product (MYD07_L2) and GCOM-W1 Advanced Microwave Scanning Radiometer 2 (AMSR2) brightness temperature ($T_b$) at 37 GHz frequency, and was compared with the measurements from the Automated Mountain Meteorology Stations (AMOS). The application of ambient temperature lapse rate was performed to improve the retrieval accuracy in mountainous region, which showed the improvement of estimation accuracy approximately 4% of RMSE. A simple pixel-wise regression method combining synergetic information from MYD07_L2 $T_{air}$ and AMSR2 $T_b$ was applied to estimate surface $T_{air}$ for all sky conditions. The $T_{air}$ retrievals showed favorable agreement in comparison with AMOS data (r=0.80, RMSE=7.9K), though the underestimation was appeared in winter season. Substantial $T_{air}$ retrievals were estimated 61.4% (n=2,657) for cloudy sky conditions. The results presented in this study indicate that the satellite remote sensing can produce the surface $T_{air}$ at the complex mountainous region for all sky conditions.

• (The) Research of the performance art and culture
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• no.32
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• pp.595-628
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• 2016

Pansori of a creative group pansori 2006 demonstration factory floor sound brutal sorigeuk the home of is a legend 'deokttaegol' in pansori, a creative for adaptation to remakes Work is. Evil Twin 'deokttaegol' called "Give me my leg back" in of Ghost Stories, broadcast on a kbs of lines from breakneck work is considered to be a pronoun. Sound and shadow play and playing drums and payments sentiments of the cruelty I've come across in this 'Give me my leg back' audience to be deployed to the cruel is formed by the center. Based on emotional horror of cruelty. When I was little, ever heard of Korean Ghost Stories, a bedrock of the main feeling revulsion of value in a short time and is contained in a story of filial piety, while in education, to the target Provided. Done in our lives using genre called 'pansori' sentiment and efficient learning can move about the value education can know. Sound and stories, many carefree a stimulus such as Pansori is a great gesture can be a means of education. Valued with any information, work is performed in pansori, depending upon efficient and the various, education and made an emotional cultivation resulting from the value. In my life friendly, our own via a variety of materials that can easily access many values and sentiments, and to culture for each age group on languages and customs Each age groups and instructive preferred allowing them access through their rhythm, pansori, access to the target is persistent about it with curiosity and interest. Can have interest. This wealth not belong to the traditional pansori and new together private and to the tune called creative work for the Pansori. Therefore, our language and customs, their poems span a friendly, the pansori and created using the vocabulary for each age group creative content is educational effects if used in education It is expected to be big thing. These effective approach for each age group and based on the vocabulary by the content easily understood lessons by causing only a smoothly acquired Can to provide an opportunity. Therefore, the Pansori of a creative education is important to take advantage of educational value.

• The Journal of the Korean Institute of Forest Recreation
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• v.22 no.4
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• pp.11-22
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• 2018

This study analyzes the economic feasibility on the transition of production structure to increase income for a local forest village in Laos PDR. The study area was the Nongboua village in Sangthong district where the primary product is rice from rice paddy. Possible strategies were considered to increase the villagers' revenue, and Noni (Morinda citrifolia) was production in the short-term. We assumed that the project period was for 20 years for the analysis, and a total of 1,100 Noni tree was planted in 1 ha by $3m{\times}3m$ spacing. This study classified basic scenario one, scenario two, scenario three by the survival rate and purchase pirce of Noni. Generally Noni grows well. However, the seedlings' average survival rate (= production volume) was set up conservatively in this study to consider potential risks such as no production experience of Noni and tree disease. The scenario one assumed that the survival rate of Noni seedlings was 50% for 0-1 years, 60% for 0-2 years, and 70% for 3-20 years; the scenario two, 10% less, i.e., 40%, 50%, and 60%; and the scenario three, 10% less, i.e., 40%, 50%, 60% and purchase price 10% less, i.e., $0.29 to $0.26, respectively. Our analysis showed that all 3 scenarios resulted in economically-feasible IRR (internal rate of return) of 24.81%, 19.02%, and 16.30% of with a discounting rate of 10%. The B/C (benefit/cost) ratio for a unit area (1ha) was also analyzed for the three scenarios with a discounting rate of 10%, resutling in the B/C ratio of 1.71, 1.47, and 1.31. The study results showed that the Nongboua village would have a good opportunity to improve its low-income structure through planting and managing alternative crops such as Noni. Also the results can be used as useful decision-making information at a preliminary analysis level for planning other government and public investment projects for the Nonboua village.

• Korean Journal of Mineralogy and Petrology
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• v.35 no.3
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• pp.333-344
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• 2022

The quarrying and utilization of natural building stones such as granite and marble are rapidly emerging in developing countries. A huge amount of wastes is being generated during the processing, cutting and sizing of these stones to make them useable. These wastes are disposed of in the open environment and the toxic nature of these wastes negatively affects the environment and human health. The growth trend in the world stone industry was confirmed in output for 2019, increasing more than one percent and reaching a new peak of some 155 million tons, excluding quarry discards. Per-capita stone use rose to 268 square meters per thousand persons (m²/1,000 inh), from 266 the previous year and 177 in 2001. However, we have to take into consideration that the world's gross quarrying production was about 316 million tons (100%) in 2019; about 53% of that amount, however, is regarded as quarrying waste. With regards to the stone processing stage, we have noticed that the world production has reached 91.15 million tons (29%), and consequently this means that 63.35 million tons of stone-processing scraps is produced. Therefore, we can say that, on a global level, if the quantity of material extracted in the quarry is 100%, the total percentage of waste is about 71%. This raises a substantial problem from the environmental, economical and social point of view. There are essentially three ways of dealing with inorganic waste, namely, reuse, recycling, or disposal in landfills. Reuse and recycling are the preferred waste management methods that consider environmental sustainability and the opportunity to generate important economic returns. Although there are many possible applications for stone waste, they can be summarized into three main general applications, namely, fillers for binders, ceramic formulations, and environmental applications. The use of residual sludge for substrate production seems to be highly promising: the substrate can be used for quarry rehabilitation and in the rehabilitation of industrial sites. This new product (artificial soil) could be included in the list of the materials to use in addition to topsoil for civil works, railway embankments roundabouts and stone sludge wastes could be used for the neutralization of acidic soil to increase the yield. Stone waste is also possible to find several examples of studies for the recovery of mineral residues, including the extraction of metallic elements, and mineral components, the production of construction raw materials, power generation, building materials, and gas and water treatment.

• Journal of Service Research and Studies
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• v.13 no.4
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• pp.131-141
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• 2023

Changes in consumer needs and behaviors according to lifestyle changes lead to consumption culture, affecting the automobile market. However, research and research to provide options tailored to the lifestyle of consumers in related markets are still insufficient. Focusing on pickup truck accessories applied to pickup trucks that reflect lifestyle the most among vehicle types, this study first examined the theoretical background of the aftermarket market and lifestyle of pickup trucks. Second, through image mapping, the market possibilities and opportunity factors of pickup trucks were discovered through market size analysis and possibilities, and through this, user types could be classified. Third, interviews were conducted with those representing user types, the contents were organized, and interviews were conducted centering on related groups to create a persona of a user group, and what needs each group's persona wanted. Finally, a design concept suitable for the issue keywords and insights derived for each user lifestyle type was presented. In this study, the user type was divided into ① outdoor activity type, ② hobby activity type, and ③ small-scale work type, and a design case study was conducted by applying the concept suitable for the keyword for each group. For the outdoor activity type, a variable storage structure and a living space-type accessory design were presented, and for the hobby type, a modular decktop design and a sports coupe-type hardtop design were presented. For the small business type, a partition that is easy to fix the load and a stepper design that is easy to board the cargo box were presented. It is expected that the size of the pickup truck aftermarket will be expanded by diversifying the option designs that users want by lifestyle by applying them to the development of pickup truck accessories that fit the lifestyle of pickup truck users in the automobile market, which is currently mass customized.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.1-20
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• 2023

This study attempted to identify the relationship between the investment determinants of accelerators and investment performance through empirical analysis. Through literature review, four dimensions and 12 measurement items were extracted for investment determinants, which are independent variables, and investment performance was adjusted to the cumulative amount of subsequent investment based on previous studies. Performance data from 594 companies selected by TIPS from 2017 to 2019, which are relatively reliable and easy to secure data, were collected, and the subsequent investment cumulative attraction amount, which is a dependent variable, was hypothesized through multiple regression analysis three years after the investment. As a result of the study, 'industrial experience years' in the characteristics of founders, 'market size', 'market growth', 'competitive strength', and 'number of patents' in the characteristics of products and services had a significant positive (+) effect. The impact of independent variables on dependent variables was most influenced by the competitive strength of market characteristics, followed by the number of years of industrial experience, the number of patents, the size of the market, and market growth. This was different from the results of previous studies conducted mainly on qualitative research methods, and in most previous studies, the characteristics of founders were the most important, but the empirical analysis results were market characteristics. As a sub-factor, the intensity of competition, which was the subordinate to the importance of previous studies, had the greatest influence in empirical analysis. The academic significance of this study is that it presented a specific methodology to collect and build 594 empirical samples in the absence of empirical research on accelerator investment determinants, and created an opportunity to expand the theoretical discussion of investment determinants through causal research. In practice, the information asymmetry and uncertainty of startups that accelerators have can help them make effective investment decisions by establishing a systematic model of experience-dependent investment determinants.

• Journal of Korean Society of Forest Science
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• v.80 no.1
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• pp.72-81
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• 1991

This study was carried out to provide necessary information for improving quarrying industry management in Korea. The results of the study are summarized as follows : 1. In aggregate and building-stone quarrying firms the managers over 40 years of age are 97% and 89.1%, the ones above education level of high school are 90% and 85% and the ones not more than 10 years of quarrying experience are 70% and 52%, respectively. Accordingly it can be pointed out that most of the managers of two types of firms are relatively old, have high educational background, while quarrying experiences of building-stone firm managers are longer than that of aggregate firm managers. 2. Most of the management forms are social corporation(60%) for aggregate quarry firms and private management(76%) for building-stone firms. Average areas of permitted stone-pits of aggregate and building-stone quarries are about 2.86ha and 1.66ha respectively. That is, aggregate quarrying firms are carried on a larger scale than building-stone quarrying firms. 3. The yearly average product of aggregate quarrying firms has increased steadily from $88.961m^3$ in 1985 to $144.028m^3$ in 1988, while, in case of building-stone quarry firms, it has significantly increased from $4.155m^3$ to $19.462m^3$ from 1985 to 1987, but reduced to $13.400m^3$ in 1988. Unstable production activities of building-stone quarrying firms may require continuous government support. 4. Major cost items are equipment rental, depreciation, salaries, repair, maintenance for aggregate quarrying firms, and salaries, depreciation, fuel, tax for building-stone quarrying firms. The yearly average rate of return is about 9.7% for aggregate quarry firms and 2.6% for building-stone quarry firms. It can be pointed out that aggregate quarrying firms is better managed than building-stone quarrying firms. 5. The production elasticity of salary for aggregate quarrying firms is 0.495, that of employees is 0.559, and that of capital service is 0.513. The sum of the elasticities is 1.257>1. Fur building-stone quarrying firms, that of employees is 0.492, that of variable costs is 0.192, and that of capital service is 0.498. The sum of elasticities is 1.172>1, thus denotes the increasing returns to scale for both types quarrying firms. 6. The ratio of marginal value product to opportunity cost of empolyees is 2.54, that of variable costs is 3.62, and that of capital service is 1.45, in aggregate quarrying firms. That of employees is 2.47, that is variable costs was 2.34, and that of capital service is 19.67 in building-stone quarrying firms. Therefore the critical factors for more expansion of management scale in aggregate quarrying firms are variable cost and employees, and are capital service in building-stone quarry ing firms. 7. The break-even points of stone sales are about 0.587 billion won and 0.22 billion won in aggregate and building-stone quarrying firms respectively. The optimum sales Level for profit maximization are about 2.0 billion and 0.5 billion in aggregate and building-stone quarry firms respectively.