• KCID journal
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• v.18 no.2
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• pp.33-42
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• 2011

Climate change has impacts on not only the average temperature rise but also the intensity and frequency of extreme events such as flood and drought. It is also expected that the damages on agricultural infrastructure will be increased resulting from increased rainfall intensity and frequency caused by climate change. To strengthen the climate change adaptation capacity, it is necessary to identify the vulnerability of a given society's physical infrastructures and to develop appropriate adaptation strategies with infrastructure management because generally facilities related to human settlements are vulnerable to climate changes and establishing an adaptive public infrastructure would reduce the damages and the repair cost. Therefore, development of mitigation strategies for agricultural infrastructure against climatic hazard is very important, but there are few studies on agricultural infrastructure vulnerability assessment and adaptation strategies. The concept of vulnerability, however, is difficult to functionally define due to the fact that vulnerability itself includes many aspects (biological, socioeconomic, etc.) in various sectors. As such, much research on vulnerability has used indicators which are useful for standardization and aggregation. In this study, for the vulnerability assessment for agricultural infrastructure, 3 categories of climate exposure, sensitivity, and adaptation capacity were defined which are composed of 16 sub-categories and 49 proxy variables. Database for each proxy variables was established based on local administrative province. Future studies are required to define the weighting factor and standardization method to calculate the vulnerability indicator for agricultural infrastructure against climate change.

• Journal of Environmental Impact Assessment
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• v.22 no.6
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• pp.677-693
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• 2013

IPCC showed that calculation of climate vulnerability index requires standardization process of various proxy variables for the estimation of climate exposure, sensitivity, and adaptive capacity. In this study, four different methodologies of standardization methods: Z-score, Rescaling, Ranking, and Distance to the reference country, are employed to evaluate climate vulnerability-VRI (Vulnerability-Resilience Indicator) over Korean peninsula, and the error ranges of VRI, arising from employing the different standardization are estimated. All of proxy variables are provided by CCGIS (Climate Change adaptation toolkit based on GIS) which hosts information on both past and current socio-economic data and climate and environmental IPCC SRES (A2, B1, A1B, A1T, A1FI, and A1 scenarios) climate data for the decades of 2000s, 2020s, 2050s, and 2100s. The results showed that Z-score and Rescaling methods showed statistically undistinguishable results with minor differences of spatial distribution, while Ranking and Distance to the reference country methods showed some possibility to lead the different ranking of VRI among South Korean provinces, depending on the local characteristics and reference province. The resultant VRIs calculated from different standardization methods showed Cronbach's alpha of more than 0.84, indicating that all of different methodologies were overall consistent. Similar horizontal distributions were shown with the same trends: VRI increases as province is close to the coastal region and/or it close toward lower latitude, and decreases as it is close to urbanization area. Other characteristics of the four different standardization are discussed in this study.

• Journal of The Korean Society of Agricultural Engineers
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• v.63 no.6
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• pp.141-150
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• 2021

In order to assess the impact of climate change on irrigation reservoirs, climate exposure (EI), sensitivity (SI), and potential impact (PI) were evaluated for 1,651 reservoirs nationwide. Climate exposure and sensitivity by each reservoir were calculated using data collected from 2011 to 2020 for seven proxy variables (e.g. annual rainfall) and six proxy variables (e.g. irrigation days), respectively. The potential impact was calculated as the weighted sum of climate exposure and sensitivity, and was classified into four levels: 'Low (PI<0.4)', 'Medium (PI<0.6)', 'High (PI<0.8)', and 'Critical (PI≥0.8)'. The result showed that both the climate exposure index and the sensitivity index were on average high in Daegu and Gyeongbuk with high temperature and low rainfall. About 79.8% of irrigation reservoirs in Daegu, Gyeongbuk, and Ulsan with high climate exposure and sensitivity resulted in a 'High' level of potential impact. On the contrary, 64.5% of the study reservoirs in Gyeongnam and Gangwon showed 'Low' in potential impact. In further studies, it is required to reorganize the proxy variables and the weights in accordance with practical alternatives for improving adaptive capacity to drought, and it is expected to contribute to establishing a framework for vulnerability assessment of an irrigation reservoir.

• Journal of Korean Society for Atmospheric Environment
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• v.28 no.1
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• pp.22-38
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• 2012

Adaptation of climate change is necessary to avoid unexpected impacts of climate change caused by human activities. Vulnerability refers to the degree to which system cannot cope with impacts of climate change, encompassing physical, social and economic aspects. Therefore the quantification of climate change impacts and its vulnerability is needed to identify vulnerable regions and to setup the proper strategies for adaptation. In this study, climate change vulnerability is defined as a function of climate exposure, sensitivity, and adaptive capacity. Also, we identified regions vulnerable to ozone due to climate change in Korea using developed proxy variables of vulnerability of regional level. 18 proxy variables are selected through delphi survey to assess vulnerability over human health sector for ozone concentration change due to climate change. Also, we estimate the weighting score of proxy variables from delphi survey. The results showed that the local regions with higher vulnerability index in the sector of human health are Seoul and Daegu, whereas regions with lower one are Jeollanam-do, Gyeonggi-do, Gwangju, Busan, Daejeon, and Gangwon-do. The regions of high level vulnerability are mainly caused by their high ozone exposure. We also assessed future vulnerability according to the Intergovernmental Panel on Climate Change (IPCC) Special Report on Emissions Scenarios (SRES) A2, A1FI, A1T, A1B, B2, and B1 scenarios in 2020s, 2050s and 2100s. The results showed that vulnerability increased in all scenarios due to increased ozone concentrations. Especially vulnerability index is increased by approximately 2 times in A1FI scenarios in the 2020s. This study could support regionally adjusted adaptation polices and the quantitative background of policy priority as providing the information on the regional vulnerability of ozone due to climate change in Korea.

• Korean Journal of Ecology and Environment
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• v.49 no.1
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• pp.42-50
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• 2016

The purpose of this study is to set the direction to manage national parks to cope with climate change, and offer basic data to establish the relevant policies. Towards this end, this study analyzed the current and future climate change vulnerability of national parks using the 24 proxy variables of vulnerability in the LCCGIS program, a tool to evaluate climate change vulnerability developed by the National Institute of Environmental Research. To analyze and evaluate the current status of and future prospect on climate change vulnerability of national parks, the proxy variable value of climate exposure was calculated by making a GIS spatial thematic map with $1km{\times}1km$ grid unit through the application of climate change scenario (RCP8.5). The values of proxy variables of sensitivity and adaptation capability were calculated using the basic statistics of national parks. The values of three vulnerability evaluation items were calculated regarding the present (2010s) and future (2050s). The current values were applied to the future equally under the assumption that the current state of the proxy variables related to sensitivity and adaptation capability without a future prediction scenario continues. Seoraksan, Odaesan, Jirisan and Chiaksan National Parks are relatively bigger in terms of the current (2010s) climate exposure. The national park, where the variation of heat wave is the biggest is Wolchulsan National Park. The biggest variation of drought occurs to Gyeryongsan National Park, and Woraksan National Park has the biggest variation of heavy rain. Concerning the climate change sensitivity of national parks, Jirisan National Park is the most sensitive, and adaptation capability is evaluated to be the highest. Gayasan National Park's sensitivity is the lowest, and Chiaksan National Park is the lowest in adaptation capability. As for climate change vulnerability, Seoraksan, Odaesan, Chiaksan and Deogyusan National Parks and Hallyeohaesang National Park are evaluated as high at the current period. The national parks, where future vulnerability change is projected to be the biggest, are Jirisan, Woraksan, Chiaksan and Sobaeksan National Parks in the order. Because such items evaluating the climate change vulnerability of national parks as climate exposure, sensitivity and adaptation capability show relative differences according to national parks' local climate environment, it will be necessary to devise the adaptation measures reflecting the local climate environmental characteristics of national parks, rather than establishing uniform adaptation measures targeting all national parks. The results of this study that evaluated climate change vulnerability using climate exposure, sensitivity and adaptation capability targeting Korea's national parks are expected to be used as basic data for the establishment of measures to adapt to climate change in consideration of national parks' local climate environmental characteristics. However, this study analyzed using only the proxy variables presented by LCCGIS program under the situation that few studies on the evaluation of climate change vulnerability of national parks are found, and therefore this study may not reflect overall national parks' environment properly. A further study on setting weights together with an objective review on more proper proxy variables needs to be carried out in order to evaluate the climate change vulnerability of national parks.

• Journal of Navigation and Port Research
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• v.43 no.2
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• pp.134-141
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• 2019

The objective of this study was to establish whether global macroeconomic indicators affect the profitability of Korean shipping companies by using panel regression analysis. OROA (operating return on assets) and ROA (ratio of net profit to assets) were selected as proxy variables for profitability. OROA and ROA were used as dependent variables. The world GDP growth rate, interest rate, exchange rate, stock index, bunker price, freight, demand and supply of the world shipping market were set as independent variables. The size of the firm was added to the control variable. For small-sized firms, OROA was not affect by macroeconomic indicators. However, ROA was affected by variables such as interest rates, bunker prices, and size of firms. For medium-sized firms, OROA was affected by demand, supply, GDP, freight, and asset variables. However, macroeconomic indicators did not affect ROA. For large-sized firms, freight, GDP, and stock index (SCI; Shanghai Composite Index) have an effect on OROA. ROA was analyzed to be influenced by bunker price and SCI.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.629-639
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• 2020

The current study explains how corruption, terrorism, political stability and oil price has an effect on on the Iraq stock exchange utilizing corruption perception index as a proxy of corruption, global terrorism index as proxy for terrorism, political stability and oil price with ISX60 index as proxy of stock market for the period (2005-2019) using Ordinary Least Square method. The results show that the level of corruption, terrorism activities and political stability coefficient is significantly positive with Iraq stock exchange. In contrast, the oil price coefficient is significantly negative with Iraq stock exchange, which means that lower levels of corruption, less terrorism activities and more stability in political system have strong influence on stock market development in Iraq. The study concludes that the explanatory variables are important for Iraq stock exchange. Hence, the study suggests the policy makers to develop stock market by implementing policies and strategies to overcome high level of corruption, terrorism activities especially after ISIS/ISIL announcement has been made public. There is a need for transparency and creating stable political environment through good governance practices in order to attract more foreign investment and promote economic development. Factors like terrorism and corruption make economic and political systems unstable and has an adverse effect on on Iraq's stock exchange performance.

• Journal of Environmental Impact Assessment
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• v.24 no.2
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• pp.190-203
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• 2015

VRI(Vulnerability-Resilience Index), which is defined as a function of 3 variables: climate exposure, sensitivity, and adaptive capacity, has been quantified for the case of Typhoon which is one of the extreme weathers that will become more serious as climate change proceeds. Because VRI is only indicating the relative importance of vulnerability between regions, the VRI quantification is prerequisite for the effective adaptation policy for climate in Korea. For this purpose, damage statistics such as amount of damage, occurrence frequency, and major damaged districts caused by Typhoon over the past 20 years, has been employed. According to the VRI definition, we first calculated VRI over every district in the case of both with and without weighting factors of climate exposure proxy variables. For the quantitative estimation of weighting factors, we calculated correlation coefficients (R) for each of the proxy variables against damage statistics of Typhoon, and then used R as weighting factors of proxy variables. The results without applying weighting factors indicates some biases between VRI and damage statistics in some regions, but most of biases has been improved by applying weighting factors. Finally, due to the relations between VRI and damage statistics, we are able to quantify VRI expressed as a unit of KRW, showing that VRI=1 is approximately corresponding to 500 hundred million KRW. This methodology of VRI quantification employed in this study, can be also practically applied to the number of future climate scenario studies over Korea.

• The Journal of the Korea Contents Association
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• v.10 no.4
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• pp.306-316
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• 2010

The purpose of study is to promote the development of contents industry by analysing the causal relationship between R&D collaboration and firms' performance. In study, we use the number of intellectual property and total sales as proxy variables of performance. we use the degrees of collaboration experience, firms' interaction and degree of collaboration as proxy variables of independent variables. The results of study are as follows. First, collaboration experience and firms' interaction are positively influence on technological performance. Second, collaboration experience is positively correlated to economic performance. Finally, firms' R&D collaboration revealed higher performance than R&D collaboration of firm and R&D institution This study emphases on the importances of R&D collaboration for developing new technology and improving economic performance.

• The Korean Journal of Financial Studies
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• v.10 no.1
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• pp.249-269
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• 2004

Free cash flow is known as a typical type of agency conflict between managers and shareholders in a firm. The insurance industry, which is not growing, is particularly susceptible to such excessive cash flow. We herein investigate the effects of stock ownership plans on reducing agency conflicts. We adopt undistributed cash flow to proxy free cash flow, and size, default risk, group membership, leverage, investment opportunity, and stock options are selected as explanatory variables. We find that stock option plans are effective(at a 10% level) in reducing free cash flow.