• The Journal of Asian Finance, Economics and Business
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• v.5 no.2
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• pp.25-33
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• 2018

In the globalization and free trade era, the current account deficit problem is a common phenomenon experienced by most countries, both developing and developed countries. Also with managed floating regime of exchange rate, it becomes very important to analyze the dynamics of current account balance which determine the trade. The deficit condition has lasted for four years in Indonesia, as well the deficit value above the value of the surplus that has been experienced during the period 2005-2011. This study is firstly aim to examine the condition of the deficit which happens in the export and import, manufactured goods and oil and gas, whether related to the transaction of goods and services. We try to build a predicted model which near the actual. Then, the focuses examines an exchange rate volatility impact on current account deficit. The model used in this research is a simultaneous model of Indonesia current account deficit from 2005 to 2014. The simulation result indicated that depreciation increase surplus to current account deficit. The decrease of export manufactured goods (non oil and gas) higher than the increase of import. For the oil and gas sector, depreciation of the rupiah against the US dollar results in an increased burden of higher oil and gas imports due to import transactions.

• KDI Journal of Economic Policy
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• v.34 no.1
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• pp.169-197
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• 2012

It is often argued that the parental leave should be extended in order to help employees achieve the balance of work and family life. However, one should be careful in designing the parental leave since there is a tradeoff between the continuity of employment after childbearing and the depreciation of human capital due to the time off the work. The paper investigates whether the parental leave payment introduced in Korea in 2001 helped women's take-up of the leave and employment after giving birth. The results are as follows. First, the increase in the payment indeed raised the female take-up of the leave. Second, women returned to labor market less often after giving birth in the short run, but the size of the effect tends to decrease in the long run. However, the negative effect on returning to the same workplace after the birth remains significant in the long run. Lastly, there is no evidence that the share of women of childbearing age at workplace changed due to the increase in the parental leave payment. Although there is a limitation in that the analysis is based only on the employment covered by the Employment Insurance, these findings imply that the increase in the parental leave payment may not be an effective policy tool for promoting female labor market participation. On the other hand, it should be noted that it is necessary to pay attention to child development as well as female employment as an objective in order to make an overall judgement on the parental leave policy.

• Environmental and Resource Economics Review
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• v.10 no.4
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• pp.495-513
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• 2001

We investigate a practical method of calculating the impact of multiple domestic energy price change on the final demand, production, the export and import change, the change in the balance of payment of Korean economy. By combining an existing computable general equilibrium (CGE) model with the traditional input-output analysis with two additional assumptions on the price behavior, we provide a cost-effective method of analyzing the impact of multiple energy price changes on the domestic economy. The energy price shock we used in this paper is 0.127% increase weighted by the sectoral productions. The total impacts on price level and GDP are 1.258% and -0.940%, respectively. The impact on the total output (GDP and intermediate goods) is about -1.580%.

• Journal of Dairy Science and Biotechnology
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• v.19 no.1
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• pp.30-38
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• 2001

The most important task in Korean dairy industry is to keep the seasonal and annual balance of raw milk supply and demand. Too much surplus milk supply which causes dumping sale of market milk makes dairy industries get in trouble of management, and eventually affects to farmers and consumers economically. As balancing of supply and demand is so important in the fee economic market system, the adaption of the quota system of milk production and seasonal price differentiation has been recommended very often as a method of controlling the milk supply and demand. However, this recommendation did not go through successfully due to the strong objection of dairy farmers. Recently, the voice of consumer's requirement for safer and more hygienic, and high protein, low fat level dairy product is getting stronger. By knowledge of this kind changes, quality improvement in nutrients and hygiene is the most positive way to expand the volume of milk consumption. To meet the consumer's demand, therefore, it is necessary to revise the level of milk fat content and the hygienic grading system for the payment system of raw milk.

• Korean Journal of Social Welfare
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• v.63 no.4
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• pp.277-299
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• 2011

The current study analyzed the tax structure in the welfare states. The appropriate tax structure of universal welfare state should be based on expanding all taxes, rather than choosing between direct and indirect, progressive and regressive, or mobile and immobile tax. The revenue for the universal welfare payment should be raised by levying tax on all people provided that the welfare payment is made available to all people. The analysis led to classification of tax structure into the high tax European model and the low tax English and East Asian model. The high tax European model was further classified into the balance tax model and the high social security model. The low tax English and East Asian model was classified into the low social security model and the high property tax model. Based on the results, the study maintained that the universal welfare states need not only to expand welfare resources but to develop tax system that corresponds to the universal welfare system.

• The Journal of Fisheries Business Administration
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• v.46 no.2
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• pp.93-110
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• 2015

This research examined the transformations of the fisheries relations between Japan and Russia since the establishment of the Exclusive Economic Zone (EEZ) system. The author reviewed the transformations with investigation on mutual fishing access to EEZ including salmon & trout catches. The Japan-Russia fisheries relations have evolved through multiple developmental stages, which include mutual fishing access to EEZ, the reductions of a fishing quota to balance catches of the nations, provision of financial and technical support, and a payment system of EEZ fishing access fee. The Japanese salmon industry also has done similar practices, continuing to catch salmon and trout in the Russian EEZ. Additionally, Japan and Russia have attempted to develop joint fisheries projects and to assure fishing operation safety around Kuril Islands. The case of Japan-Russia mutual fishing access shows that a country that has authority over crucial fisheries resources tends to establish specific conditions of mutual fishing access so that it maximizes its national interest. Thus, this case gives us implication what could be future directions of Korea-China-Japan multinational fishing access. The principle of same number of fishing vessels and quantities of catches has worked in existing mutual fishing access to EEZ among Korea, China, and Japan. However, it is expected that a nation that is endowed with abundant fisheries resources would limit counterpart's fishing access to its EEZ. Therefore, Korean fisheries administration should prepare for all possible situations like a dramatic cut in fishing quota and the termination of fishing access. International fisheries cooperation and payment of fishing access could be viable options for such a situation.

• Korean Journal of Construction Engineering and Management
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• v.9 no.3
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• pp.136-145
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• 2008

Occasionally an owner of public construction work pays financial costs in addition to progress payments. However, the overall scale of financial costs are not known. This research examines, based on a case study, the financial cost incurred in public construction works and the following issues: the overall scale of financial costs, the impact on financial costs on the owner, and the impact of timing on the overall sum of the financial costs. Annually, more than 2.3 trillion KRW are paid as progress payments for public construction work; yet, there is no research data showing the scale of financial costs thus incurred. The purpose of this research is to illustrate the scale of financial costs incurred due to progress payments for public construction works, and to suggest alternatives that would improve relevant regulations.

• International Commerce and Information Review
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• v.15 no.4
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• pp.97-122
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• 2013

Korea's trade balance in service showed surplus in 2012 on the basis of BPM5. This is recorded by 14 years since 1999. This owes to decrease of deficit in tourism balance, increase of surplus in construction and transportation, and shift from deficit to surplus, even in small portion, in personal cultural recreational services balance. While externally the global economic growth becomes inactive and the Korean Won has appreciated, internally Korean service industry is very weak and is not equipped with international competitiveness. This study intends to look into service surplus items and services deficit items and to present measures that will be able to strengthen competitiveness in service industry. As a short case study, German and Japan was benchmarked, as they are the countries which are developed on the basis of manufacturing like Korea. And in this study, by analyzing surplus items and deficit items in trade balance sheet, it is attempted to suggest policies which would be available for strengthening service industry. As the service industry is a highly value-added one, it is necessary to designate promising categories and intensively foster as strategic industry. Service industry has their own characteristics distinguished with manufacturing goods. It has very different logistics and payment system with manufacturing industry. It means there must be independent support systems which reflect the nature of industrial classification in service industry. It is necessary to provide export support system, to organize export market development group, to support marketing, to set common logistics center, to support diplomatic means, to provide legal service and so on.

• Journal of the Korean Society of Environmental Restoration Technology
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• v.17 no.5
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• pp.29-41
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• 2014

Ecosystem services provide various benefits to human beings, but are considered to be free of cost. To protect ecosystems in an economically sustainable way, several developing countries have adopted a policy known as the Payment for Ecosystem Services (PES) that compensates upstream services with monetary incentives collected from service users. Vietnam is one of the countries that have enacted a nationwide PES policy. However, the policy in Vietnam requires further development in order to evaluate the spatial priority zones based on the quantification of ecosystem services. To obtain a recent and high-quality land cover map, we first classified the land cover in the Da River basin, in northern Vietnam, using Landsat dataset. We then applied a water balance theory and an USLE equation to assess hydrological ecosystem services concerning water supply and sediment retention. Following the assessment, we identified the priority areas for hydrological ecosystem services exclusively for forest environments. We found that the quantity and distribution of services from forests varied, due to the topography, climate, and land cover. According to a quantile distribution, Mt. Phu Luong, Mt. Fansipan, and Hoang Lien National Park were evaluated as high service areas in terms of both water yield and sediment retention. As a result, this assessment method can help construct spatial priority zones concerning ecosystem service distribution, and can also contribute to benefit sharing by indicating which forest and landowners require compensation.

• International Commerce and Information Review
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• v.15 no.3
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• pp.245-262
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• 2013

The transaction size between South Korea and the European Union (EU) had increased by more than two times among 2003 to 2008. With rapid growth of transaction, the EU was becoming important transaction object of South Korea gradually. EU has used the Antidumping policy as a trade protection tool against Korean products due to reduce the deficit of trade balance of payment, boost the economic growth and protect its weak industries. This paper investigates whether there is a connection between the EU's macroeconomic activity and pressures for protection to Korean products under antidumping measures with using the current data that come from the WTO, World Bank for 2004 to 2012. The result suggests that pressures for protection under Antidumping measure against exporting of Korean products to EU have increased during periods of macroeconomic weakness of low GDP growth, larger deficit of trade balance, however, has not significantly affected during periods of high unemployment.