• The Journal of Fisheries Business Administration
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• v.49 no.1
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• pp.67-89
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• 2018

In fisheries, as well as in other natural resource-based industries, there is difference between profit and rent. The former is a basic indicator for gauging the business performance of firms, while the latter is for the evaluation of the contribution of resources and industry to economic welfare. Put simply, resource economists are mainly concerned about rent, including pure resource rent and producer surplus (intra-marginal rent [IMR]). In other hand, business economists are mainly concerned about the profitability of the firms comprising the industry. In the academic literature, there are not always clear definitions of the profit and rent concepts and their use in actual analyses. This article will mainly discuss and clarify differences and similarities in profit and rent concepts. In the classical fisheries economic model with one-dimensional homogenous effort and a constant cost per unit of effort, no rent exists in open-access equilibrium. A simple change in this model, for example by introducing heterogeneous effort, opens it to the existence of rent, specifically IMR, at open-access equilibrium. We estimated resource rent and profit from the data using SNA(system of national accounts) and accounting data methods. RR(resource rent) is composed of value-added, compensation of employees, consumption of fixed capital and normal profit in SNA. RR(resource rent) is composed of EBT, Depreciation of fishing rights, financial costs of fishing rights and calculated interests on equity in accounting data methods. We found that the result of two methods is equal. RR is composed of excess profit, rent and interest expenses. In Korea, the magnitude of RR and profit is not different significantly.

• Journal of Fisheries and Marine Sciences Education
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• v.29 no.2
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• pp.513-525
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• 2017

In the estimation of the exploitable carrying capacity (ECC) in the Korean water of the East China Sea, two approaches, which are the ecosystem modeling method (EMM) and the holistic production method (HPM), were applied. The EMM is accomplished by Ecopath with Ecosim model using a number of ecological data and fishery catch for each species group, which was categorized by a self-organizing mapping (SOM) based on eight biological characteristics of species. In this method, the converged value during the Ecosim simulation by setting the instantaneous rate of fishing mortality (F) as zero was estimated as the ECC of each group. The HPM is to use surplus production models for estimateing ECC. The ECC estimates were 4.6 and 5.1 million mt (mmt) from EMM and HPM, respectiverly. The estimate from the EMM has a considerable uncertainty due to the lack of confidence in input ecological parameters, especially production/biomass ratio (P/B) and consumption/biomass ratio (Q/B). However, ECC from the HPM was estimated on the basis of relatively fewer assumptions and long time-series fishery data as input, so the estimate from the HPM is regarded as more reasonable estimate of ECC, although the ECC estimate could be considerd as a preliminary one. The quality of input data should be improved for the future study of the ECC to obtain more reliable estimate.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.24 no.68
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• pp.51-65
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• 2001

This study is to make LCIA(Life Cycle Impact Assessment) easier as a methodology of environmental scores(called E-score) that integrated environmental load of each emission substance based on environmental damage such as in human health, ecosystem and resources category. The concept is to analyzes the LCI(Life Cycle Inventory) and defines the level of environment damages for human health, ecosystem and resources to objective impact assessment standard, and makes the base of marginal damage to calculate the damage factor, which can present the indication that can establish the standard value of environmental impact. First, damages to human health are calculated by fate analysis, effect analysis and damage analysis to get the damage factor of health effect as a DALY(Disability Adjusted Life Years) unit. Second, damages to ecosystem are calculated by fate analysis, effect analysis and damage analysis to get the damage factor of the effect as a PDF(Potentially Disappeared Fraction) unit through linking potentially increased disappeared fraction. Third, damages to resources are carried out by resource analysis and damage analysis for linking the lower fate to surplus energy conception to get damage factor as a MJ(Mega Joule) unit. For the ranking of relative environment load level each other, LCIA can be carried out effectively by applying this E-score methodology to the particular emission substances. A case study has been introduced for the emission substances coming out of a tire manufacturer in Korea. It is to show how to work the methodology. Based on such study result, product-designers or producers now can apply the E-scores presented in this study to the substances of emission list, and then calculate the environment load of the product or process in advance at any time and can see the environment performance comparatively and expected to contribute to the environmental improvement in view of environmental pollution prevention.

• Proceedings of the Technology Innovation Conference
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• 2005.02a
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• pp.124-139
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• 2005

In the early stage, the radio communication industry was widely accepted as a monopoly industry, so it has been controled and managed by government. But the advanced technology in Information and Technology industry has led constant increase of demand and dramatic change of communication market. Furthermore it is expected that frequency resource is to be short by market change due to wire-wireless integration. That is why the effort to utilize and manage limited frequency resource efficiently is being executed around the world. Not only newly developing and allocating the spectrum but also reallocating the existing spectrum important are, since transforming inefficiently used existing spectrum to new service can increase producer's surplus and social welfare. The economic approach to valuate the spectrum and spectrum usage right is necessary different from the traditional cost based approach, and through this approach I expect active transaction of spectrum. In this paper the real option methodology is used for valuation of spectrum, considering spectrum user's option right based on future revenue. In detail, the matter of withdrawing and reallocating the existing analog radio broadcasting spectrum is evaluated in this paper, The digitalization of a broadcasting service is widely spreaded around the world in terms of technology and service utility, and analog TV broadcasting has already been decided to be transformed to digital TV broadcasting. It was planned to convert analog radio broadcasting to DAB service before adopting DMB service, but nowadays this issue is not on the table anymore. However if the increasing demand of digital voice and broadcasting service is considered, this kind of research to valuate a spectrum is needed urgently. The result of this research shows that when the redeployment of spectrum is done, social welfare will increases. The point of the reallocation time and value are suggested by the monte carlo simulation through ROVM. In this paper, I use real option to valuate the spectrum and provide the point of the reallocation time and reasonable guideline, and moreover, the suitable information of this paper is expected to reduce risk and loss in policy practice.

• Journal of Bio-Environment Control
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• v.32 no.1
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• pp.64-71
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• 2023

Crassulacean acid metabolism (CAM) plants use surplus CO₂ generated by cooling and heating at night when ventilation is not needed in a greenhouse. Schlumbergera truncata 'Pink Dew' is a multi-flowering cactus that needs more phylloclades for high-quality production. This study examined photosynthetic characteristics by the phylloclade levels of S. truncata in a growth chamber and a greenhouse for use of night CO₂ enrichment. The CO₂ uptake rate of the S. truncata's top phylloclade in a growth chamber exhibited a C₃ pattern, and the second phylloclade exhibited a C₃-CAM pattern. The CO₂ uptake rate of the top phylloclade in a greenhouse showed a negative value both day and night, but those of the second phylloclade exhibited a CAM pattern. The stomatal conductance and water-use efficiency (WUE) of S. truncata at both the top and second phylloclades were higher in a growth chamber than in a greenhouse. The WUE of S. truncata in a growth chamber and a greenhouse was higher at the second phylloclade, which is a CAM pattern compared with those of the top phylloclade. The daily total net CO₂ uptake of S. truncata was higher in a growth chamber than in a greenhouse. The daily total net CO₂ uptake of S. truncata at the second phylloclade had the highest value of 155 mmol·m^-2·d^-1 in a growth chamber. The night total CO₂ uptake of S. truncate at the second phylloclade was 3-fold higher in a growth chamber than in a greenhouse. S. truncata's second phylloclade exhibited a CAM pattern that uptake CO₂ at night, and the second phylloclade, was more mature than the top phylloclade. A multi-flowering cactus S. truncata 'Pink Dew' efficiently uptake night surplus CO₂ in the proper environmental condition with matured phylloclade.

• Korean Journal of Soil Science and Fertilizer
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• v.36 no.5
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• pp.272-279
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• 2003

This study was performed to develop a more rapid and simple nutrient diagnosis method of plants than the conventional leaf analysis method. Cucumber (Cucumis sativus L. cv. jangil banbaek) was planted in the mixed media produced by mixing perlite and rock wool at 1:1 (v/v) ratio. The Yamazakki nutrient solution for cucumber was supplied to the media using micro-drip irrigation system. Experimental plots were consisted of no fertilization, deficient fertilization, adequate fertilization, and surplus fertilization for N, P and K. Specific color difference sensor value (SCDSV) measured by chlorophyll meter was closely related to total-N concentration in leaves measured by the conventional method. Nitrate, $PO_4$ and K concentration in petiole sap measured by test strips showed a significant relationship with total-N, P and K concentration in leaves. Linear regression equations between $NO_3$, $PO_4$ and K concentration in petiole sap and total-N, P and K concentration in the leaves were prepared. Optimum levels of $NO_{3}$, $PO_{4}$ and K in petiole sap were obtained by plugging the optimum concentrations of total-N, P and K in the leaves by other researchers into the equations. In conclusion, the SCDSV measured by chlorophyll meter and the concentration of $NO_3$, P and K in petiole sap measured by the test strips would be suitable for rapid estimation of plant nutrient status.

• Economic and Environmental Geology
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• v.54 no.5
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• pp.573-580
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• 2021

This study analyzed the induced effects of the aggregate and stone sectors using the industry association table. First, the added value of the aggregate and stone sectors was summarized, and then the intermediate input structure and induced effect were analyzed. In terms of value-added structure, aggregate and stone showed a higher employee remuneration rate compared to the manufacturing industry, and a higher rate of operating surplus compared to other mining industries. The intermediate input structure summarizes the sector using aggregate and stone products as intermediate inputs and their input ratio. The proportion of the intermediate element input structure was confirmed. In addition, the main input sectors of ready-mixed concrete, the largest consumer of aggregate and stone, are also summarized. The production-inducing effect of aggregate and stone showed a higher influence coefficient than the sensitivity coefficient, confirming that they had a relatively large rear chain effect. The production inducement effect was reviewed by reconstructing the industry association table, and it was found to show a relative superiority in the influence coefficient, similar to the results derived according to the provisional classification of the Bank of Korea.

• Journal of Digital Convergence
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• v.19 no.8
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• pp.141-149
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• 2021

This study investigated the effect of accounting information on dividend policy as a measure of corporate conservatism from the perspective of the internal accounting management system. The verification is based on a sample of 543 companies listed on securities (excluding KOSDAQ and financial industry) among the Bank of Korea (2019) 「2018 Corporate Management Analysis」 and company analysis of the Korea Productivity Center (financial data disclosed as listed companies as a December settlement company) was composed. Using SPSS 22, empirical analysis was conducted using exploratory factor analysis and regression analysis. The first is the verification related to corporate conservatism and the role of dividend policy, and it is verification of whether internal accounting management influences financial decision-making. Second, if internal accounting management exists, it is a verification of how conservatism and investment policies (in-house reserve, debt borrowing, capital increase, dividends, etc.) affect the corporate value according to accounting information. As a result, from the perspective of the internal accounting management system, it was found that among the variables of accounting information, profitability can have a positive effect on corporate conservatism and dividend policy as a corporate valuation method of reinvestment. In addition, it has been proven that corporate conservatism has an effect on profitability-to-value through capital accumulation and reinvestment such as surplus and internal reserves. In the future, we will study and discuss the complementarity of corporate conservatism and dividend policy in relation to governance structure and improvement of the internal accounting management system.

• Journal of the Korean Geographical Society
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• v.28 no.1
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• pp.1-15
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• 1993

This research aims to investigate some respects of chemical weathering processes, espcially the amount of solute leaching, formation of clay minerals, and the chemical weathering rate of granite rocks under present climatic conditions. For this purpose, I investigated geochemical mass balance in a small catchment and the mineralogical composition of weathered bedrocks including clay mineral assemblages at four res-pective sites along one slope. The geochemical mass blance for major elements of rock forming minerals was calculated from precipitation and streamwater data which are measured every week for one year. The study area is a climatically and litholo-gically homogeneous small catchment($3.62Km^2$)in Anyang-shi, Kyounggi-do, Korea. The be-drock of this area id Anyang Granite which is composed of coarse-giained, pink-colored miner-als. Main rock forming minerals are quartz, K-Feldspar, albite, and muscovite. One of the chracteristics of this granite rock is that its amount of Ca and Mg is much lower than other granite rock. The leaching pattern in the weathering profiles is in close reltion to the geochemical mass balance. Therefore the removal or accumulation of dissolved materials shows weathering patterns of granite in the Korean peninsula. Oversupplied ions into the drainage basin were $H^+$, $K^+$, Fe, and Mn, whereas $Na^2+$, $Mg^2+$, $Ca^2+$, Si, Al and $HCO-3^{-}$ were removed from the basin by the stream. The consumption of hydrogen ion in the catchment implies the hydrolysis of minerals. The surplus of $K^+$ reflects that vegetation is in the aggravation stage, and the nutrient cycle of the forest in study area did not reach a stable state. And it can be also presumed that the accumulation of $K^+$ in the top soil is related to the surplus of $K^+$. Oversupplied Fe and Mn were presumed to accumulate in soil by forming metallic oxide and hydroxide. In the opposite, the removal of $Na^+$, Si, Al resulted from the chemical weathering of albite and biotite, and the amount of removal of $Na^+$, Si, Al reflected the weathering rate of the bedrock. But $Ca^2+$ and $Mg^2+$ in stream water were contaminated by the scattered calcareous structures over the surface. Kaolinite is a stable clay mineral under the present environment by the thermodynamical analysis of the hydrogeochemical data and Tardy's Re value. But this result was quite different from the real assemblage of clay miner-als in soil and weathered bedrock. This differ-ence can be explained by the microenvironment in the weathering profile and the seasonal variation of climatic factors. There are different clay forming environments in the stydy area and these differences originate from the seasonal variation of climate, especially the flushing rate in the weathering profile. As it can be known from the results of the analysis of thermodynamic stability and characteristics of geochemical mas balance, the climate during winter and fall, when it is characterized by the low flushing rate and high solute influx, shows the environmental characteristics to from 2:1 clay minerals, such as illite, smectite, vermiculite and mixed layer clay minerals which are formed by neoformation or transformation from the primary or secondary minerals. During the summer and spring periods, kaoli-nite is a stable forming mineral. However it should consider that the other clay minerals can transformed into kaolinite or other clay minerals, because these periods have a high flushing rte and temperature. Materials which are directly regulated by chemical weathering in the weathered bedrock are $Na^+$, Si, and Al. The leaching of Al is, however, highly restricted and used to form a clay mineral, and that of Si falls under the same category. $Na^+$ is not taked up by growing veget ation, and fixed in the weathering profile by forming secondary minerals. Therefore the budget of $Na^+$ is a good indicator for the chemical weathering rate in the study area. The amount of chemical weathering of granite rocks was about 31.31g/$m^2+$/year based on $Na^+$ estimation.

• The Journal of Fisheries Business Administration
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• v.29 no.2
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• pp.111-141
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• 1998

Why are auctions so prevalent in fisheries fields\ulcorner One answer is, perhaps, that fisheries products have no standard value. The price of any catch of fish (at least of fish destined for the fresh fish market) depends on the demand and supply conditions at a specific moment of time, influenced by prospective market developments and prices must be remade for each transaction. There are various auction schemes including written-bid method in Korea. It is difficult to make decision the application of auction selling in market distribution. One reason is the absence of adequate data on which to base firm statements. There is very little precise information about the relative volume handled by auction scheme as compared with other sales schemes Because of the paucity reliable data, one must depend largely on qualitative in attempting to above this problem. This paper is designed to examine which auction scheme is more efficient as a economic tool by introducing the three auctions, as samples, utilized in Koheung peninsula. Koheung coast with abundant fisheries resource, locates on the Middle-South part in Korea and has three auction firm operating by fisheries cooperatives. fur selling of dry fish included sea weed, live fish and fresh fish respectively, As a result, 1 found that there are three interesting auction schemes as follow : 1. More than one winners are selected as buyers. The highest bidder can at first get fishes he wants to buy, second winner can get surplus fishes after the highest bidder employes one's privilege with the highest pay, and next winner would be a buyer if fishes would be left in sequence after being sold with higher price. Every fisherman can sell one' s fishes with equal unit price if he delivery it to the winner within one day. Therefore, all the vendors feel they are equal members of fisheries cooperation. 2. Written-bid pricing on the cover of handy book. It is easy to write and to erase the figure more than on the small black board, and is convenient also to keep in the pocket. 3. Auctioning on the fixed platform with fixed fish tank is a very fast auction scheme in spite of short displaying time. Auctioneer presides bidding at one place on the fixed platform, instead of moving, vendors should carry a container of live fishes in the fish tank into showing table in front of would-be buyers and auctioneer. Although the applicability of the auction system to a marketing problem depends in part on subjective considerations by those making decision, basically it is a matter of comparative economic efficiency. In general, if the scheme maximizes returns in relation to the effort expanded by both buyers and sellers, it will be utilized. If it does not, a more efficiency may take place over a period of time, but, even more important, those making decisions may become aware of the potentialities of new schemes. Therefore, in order to applicate the three interesting auction schemes introduced in this paper to other fisheries market, it is necessary not only to analyze many other auction schemes but also to compare the economic efficiency those schemes utilizing in other fisheries market.