• KDI Journal of Economic Policy
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• v.32 no.4
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• pp.35-73
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• 2010

This paper examines consumption dynamics in relation to asset prices in Korea. Empirical analysis based on the error correction model shows that personal consumption is affected by changes in asset prices but the consumption converges to the long-run level of consumption corresponding to the total income flow in two years. This adjustment in consumption implies that the consumption error, reflected in the error correction term, should have predictability for the future consumption growth during the adjustment period. It is found that the error correction term has a long-run predictability for consumption over up to about 3 years; thus, confirming the error correction model. It is also found that housing prices have larger effects on consumption compared with stock prices in Korea. In addition, the effects of income and asset prices on consumption show bigger effects during contractionary period than expansionary period in business cycles. This paper also analyzes effects of asset wealth that reflects changes in both price and quantity. It is found that asset wealth has a long-run effect on consumption in addition to total income as determinants of consumption. Since wealth effects usually indicate the long-run effect of changes in asset wealth on consumption that is not explained by labor income, which is the proxy for human source of wealth, it is estimated with labor income used as a control variable. According to the estimation, the marginal propencity to consume out of asset wealth is approximately 2%. It means that 1,000won increase in asset wealth may lead to 20 won increase in consumption.

• Journal of Korean Society of Forest Science
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• v.104 no.3
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• pp.427-433
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• 2015

This study was conducted to provide a method of establishing two-storied forests by the adjustment of stand structures in natural deciduous forests of Pyeongchang area. Three permanent sampling plots of 0.09 ha were established in study site and some tree variables were measured in each sampling plot before the treatment of two-storied system. Stand attributes and stand structures before treatment were estimated based on the data measured in sampling plots. The results indicate that the current stand status is different from typical stand structures of two-storied forests. A simulation technique was applied to predict stand attributes and stand structures after the treatment of two-storied system. Results suggest that significant time is required to accomplish target stand structures even after applying the treatment of two-storied system. Number of trees in the upper canopy class after treatment was predicted to be 170 trees/ha, which adequately meets the target of two-storied forests. It was predicted, however, that the lower canopy class trees has much less trees compared with the typical stand structures of two-storied forests. This problem could be solved with ingrowth of infant trees over time or by under-planting of tolerant species. It is confirmed that the target growing stock volumes of the upper canopy class should be approximately $150m^3/ha$ considering stand status after treatment. It is predicted that twenty years of conversion period is required to accomplish this goal. The changes in stand structures over time should be assessed based on stand inventory carried out every five years, and additional treatments for inducing two-storied forests should be applied if necessary.

• Journal of Distribution Science
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• v.14 no.7
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• pp.71-81
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• 2016

Purpose - Because creativity, which is an intangible resource embedded within the company, can offer a competitive advantage, most companies have an interest in promoting creativity among their employees and division(e.g., marketing organization). Creativity renders a sustainable competitive advantage to a firm because it is a strategic resource that is valuable, flexible, rare, and imperfectly imitable or substitutable. Although most companies broadly recognize the importance of creativity, the methods for developing creativity remain elusive. Therefore, the present study investigates how to structure incentives to motivate employees to be more creative and how to develop tools to facilitate creativity. In detail, the present study aimed to examine the relationship between the regulatory focus of marketing organizations(e.g., promotion focus vs prevention focus) and creativity of marketing organizations. In addition, the present study set out to examine the moderating role of interaction of financial reward and creative training in addition to investigating the direct relationship between creativity and regulatory focus in New Product Development(NPD) context. Research design, data, and methodology - The data used to test the hypotheses are drawn from a survey of full time NPD project members(including project manager, designer, engineer, and marketer). The present study utilized data obtained mainly from a database compiled by the Korea Investors Service-Financial Analysis System which provides comprehensive corporate and financial information on firms listed on the Korea Stock Exchange. A study population comprising 1,000 South Korean firms was obtained from this database. We selected 864 firms from the database, and the firms have experiences of new product development project. We collected a total of 162 responses, for a 18.8% response rate. After we excluded 14 questionnaire because of incomplete responses, a total of 148 questionnaire remained(final response rate: 17.1%). Working with a sample of 148 responses in South Korea, hierarchical moderated regression is employed to test research hypotheses(

The relationship between promotion focus and creativity of marketing organization,

The relationship between prevention focus and creativity of marketing organization,

The moderating effect of joint influences(interaction between financial rewards and creativity training) on the relationship between promotion focus creativity of marketing organization,

The moderating effect of joint influences(interaction between financial rewards and creativity training) on the relationship between prevention focus creativity of marketing organization). SPSS 18.0 and AMOS software were used in the data analysis. Results - The empirical study confirmed that promotion focus of marketing organization is positively related to creativity of marketing organization. Also, prevention focus of marketing organization is positively affected to creativity of marketing organization. In addition, the interaction between financial rewards and creativity training moderated the relationship between regularity focus(e.g.), promotion focus vs prevention focus) and creativity of marketing organization. These results suggest that managers can improve the performances of their creative efforts by providing the use of financial rewards and creativity training in combination. Conclusion - Based on results of this study that examine the effects of regulatory focused creative efforts on creativity of marketing organization, promotion focus is helpful with marketing organizations to enhance their service innovation and performance. Prevention focused organization should allow monetary rewards and creativity training to increase their creativity for innovation of new products.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.37 no.2
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• pp.95-105
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• 2001

A series of experiment is carried out to determine the holding power of the existing anchors used in the stationary gear in the coast of the South sea. The experiment apparatus is made of the pulling machine, the load cell, the personal computer and three water tanks the bottom of which are mud, sand and m & s respectively. The result obtained are as follows : 1. On the tension and holding power of the existing anchors, B-type of the stock anchor with two fluke shows the greatest and gets smaller on order of A-type one with a fluke. The holding power of the anchors shows the greatest in the mud and gets smaller in order of m & s, sand. And, the holding power depending upon the length of anchor rope increase as the length does up to the 4 times of depth. 2. On the holding power per fluke area of the existing anchors in case of ration of length of anchor rope to depth is 2, 3 and 4, A-type anchor shows about 310-320 kg/m supper(2), 470-480 kg/m supper(2), 590-640 kg/m supper(2) respectively, B-type one 260-265 kg/m supper(2), 390-450 kg/m supper(2), 630-700 kg/m supper(2) respectively, and C-type one 70-100 kg/m supper(2), 150-180 kg/m supper(2), 210-270 kg/m supper(2) respectively. The holding power per fluke area of the anchors increase as the length of anchor rope does. 3. On the coefficient of holding power of the existing anchors, A-type anchor shows the greatest and gets smaller in the order of B-type one, C-type one.

• Parasites, Hosts and Diseases
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• v.33 no.1
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• pp.19-26
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• 1995

Ecological studies of Aedes togoi, the vector of malayan filariasis, were ci,wind out at Tolsando, Yosu and Sokcho area in 1991. The adult population of Aedes togoi was continuously appeared from the first week of April to the end of November showing the highest density in .truly. The larvae of Aedes togoi were found at rock pools from March to December in Sokcho area and the density was highest in July and August, whereas in the southern coastal area (Yosu), the larvae were found throughout the year and the density was the highest in Tune. The rate of larvae inhabited below 0.5% salinity was 45.7% in Sokcho and 51.7% in Yosu. The feeding activity of Aedes togoi was nocturnal, with the peak period of 01 :00-03:00 hours. Indoor feeding activities were slightly higher than outdoors showing the biting ratio of 1 :0.8 (indoor: outdoor). The average number of Aedes togoi attracted to CO2 gas was 8.5 whereas 117 Anophelei sinensis was attracted. The result indicates that CO2 is not an effective attractant for host seeking of Aedes togoi compared to Anopheles sineteis. The most common place was bedroom with 54.5% of total collections and next to stock place (18.2%), floor(9.1%) and kitchen (9.1%).

• Proceedings of the Korean Institute of Surface Engineering Conference
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• 2018.06a
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• pp.62-62
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• 2018

Pt is still considered as one of the most active electrocatalysts for ORR in alkaline fuel cells. However, the high cost and scarcity of Pt hamper the widespread commercialization of fuel cells. As a strong candidate for the replacement of Pt catalyst, silver (Ag) has been extensively studied due to its high activity, abundance, and low cost. Ag is more stable than Pt in the pH range of 8~14 as the equilibrium potential of Ag/Ag+ being ${\approx}200mV$ higher than that of Pt/PtO. However, Ag is the overall catalytic activity of Ag for oxygen reduction reaction(ORR) is still not comparable to Pt catalyst since the surface Ag atoms are approximately 10 times less active than Pt atoms. Therefore, further enhancement in the ORR activity of Ag catalysts is necessary to be competitive with current cutting-edge Pt-based catalysts. We demonstrate the architectural design of Ag catalysts, synthesized using plasma discharge in liquid phase, for enhanced ORR kinetics in alkaline media. An attractive feature of this work is that the plasma status controlled via electric-field could form the Ag nanowires or dendrites without any chemical agents. The plasma reactor was made of a Teflon vessel with an inner diameter of 80 mm and a height of 80 mm, where a pair of tungsten(W) electrodes with a diameter of 2 mm was placed horizontally. The stock solutions were made by dissolving the 5-mM AgNO3 in DI water. For the synthesis of Agnanowires, the electricfield of 3.6kVcm-1 in a 200-ml AgNO3 aqueous solution was applied across the electrodes using a bipolar pulsed power supply(Kurita, Seisakusyo Co. Ltd). The repetition rate and pulse width were fixed at 30kHz and 2.0 us, respectively. The plasma discharge was carried out for a fixed reaction time of 60 min. In case of Ag nanodendrites, the electric field of 32kVcm-1 in a 200-ml AgNO3 aqueous solution was applied and other conditions were identical to the plasma discharge in water in terms of electrode configuration, repetition rate and discharge time. Using SEM and STEM, morphology of Ag nanowires and dendrites were investigated. With 3.6 kV/cm, Ag nanowire was obtained, while Ag dendrite was constructed with 32 kV/cm. The average diameter and legth of Ag nanowireses were 50 nm and 3.5 um, and thoes values of Ag dendrites were 40 nm and 3.0 um. As a results of XPS analysis, the surface defects in the Ag nanowires facilitated O2 incorporation into the surface region via the interaction between the oxygen and the electron cloud of the adjacent Ag atoms. The catalytic activity of Ag for oxygen reduction reaction(ORR) showed that the catalytic ORR activity of Ag nanowires are much better than Ag nanodendrites, and electron transfer number of Ag nanowires is similar to that of Pt (${\approx}4$).

• Environmental and Resource Economics Review
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• v.29 no.2
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• pp.219-246
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• 2020

From the Phase II (2018~2020) of K-ETS, the offset credit from 'CDM projects that domestic companies and others have carried out in foreign countries' can be used in the K-ETS. As a result, stakeholders in the K-ETS market are actively developing overseas CDM projects, such as the 'high-efficiency cook stove project'. which can secure a large amount of credits while marginal cost is relatively low. This paper develops the investment decision-making model of offset project for the 'high-efficiency cook stove project' using the real option approach. Under the uncertainty of the emission allowance price, the optimal investment threshold (p^⁎) is derived and sensitivity analysis is conducted. As a result, in the standard scenario (PoA-S), the optimal investment threshold is 29,054won/ton, which is lower than the stock price (p^⁎_spot). However, allocation entities are not only economics in the CDM project, but also CDM risk factors such as non-renewable biomass ratio, cook stove replacement ratio, equity ratio with host country, investment period and submission limitation of emission allowance. In addition, offset project developers will be able to derive the optimal investment threshold for each business stage and use it for economic feasibility checks.

• Korean Business Review
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• v.11
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• pp.277-293
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• 1998

The purpose of this study is to analyse the overall relationship between the advertisement expenses and the two major indicies of business performance, that is, the total amount of sales and the discipline have contrasted the expenses for commercial advertisement with the total amount of sales or with the business performance, respectively, utilizing data on a specific product observed through 3 to 5 years. This study attempts to enlarge the scope of observation and the content of analysis. In order to attain the purpose of this study, the rate of increase in the advertisement expenses is taken as the independent variable and the two major indicies of business performance, the total amount of sales and the resultant interest, as the dependent variables. Business companies or firms which have continually been listed on the board of Korea Stock Exchange for 14 years, from 1982 to 1995, were grouped into four major business categories; 1)Food and beverage industries, 2)Fiber, clothings, and leather industries, 3) Medicine, chemistry, oil, coal, and rubber industries, and 4) Assembled mechanics and metallurgy, machinery, and maintenance industries. Utilizing the KIS-DATA, compiled by Korea Credit Evaluation, Ltd., 30 to 40 samples of business companies or firms were randomly selected from each category. Finally 125 samples were selected and put into regression analyses and follow-up tests by appropriate statistical models, in order to verify if there were any noticeable correlations. The final result obtained through the afore-mentioned research method shows that the amount of advertisement expenses has strong correlations with the amount of sales and the resultant interest. Viewed by business category, in the case of fiber, clothings, and leather industries, the relationship turned out to be significant only with the rate of increase in the total amount of sales, while, in the case of food and beverage industries, the rate of increase in the total amount of sales showed a negatively significant correlations.

• Journal of Korean Society of Forest Science
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• v.96 no.4
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• pp.477-482
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• 2007

Forest biomass became a topic because we have growing interest in global environmental issues and environment-friendly energy resources. This study was carried out to estimate the forest biomass and develop a program for biomass information management in Korea. The total forest biomass (million ton) were 521 for gross forest, 403 for productive forest and 201 for commercial forest in 2005. Also, the annual biomass production in forest was 20 million ton which was equivalent to 94,290 Gkcal of heating value and about 9 billion won of paraffin oil. The biomass growing rate (every 10year) increased from 4.95% in 1985 to 5.30% in 1995 but turn down 4.46% in 2005. The factors that the forest stock could be converted to the forest biomass have developed according to forest type. Therefore, it is impossible to estimate the exact biomass by tree species. In this reason, the demands of the development of the factors by tree species was raised. In addition, it is on time to develop an equation for estimation of biomass by species using dbh and height as independent factors.

• Korean journal of applied entomology
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• v.3
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• pp.1-5
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• 1964

Symptom of the mosaic disease of black locust which is presently widespread in Korea was observed and transmission of the disease was investigated by means of grafting Since its symptom was typically mosaic and its transmission was easily accomplished, the disease was considered to be caused by a virus. In investigation of transmission by grafting, it was found out that the discase was easily transmitted in both of the following cases, i. e., healthy seedlings grafted with diseased scions and diseased roots with healthy scions. In the healthy seedlings plus diseased scions grafting, some grafted seedlings were purposedly deprived of the diseased scions after, a certain length of time(10∼30 days), while some were left grafted. The former case showed much higher transmission rate than the latter case, but no fluctuation in rate of transmission by the length of contact period(10-30 days) was recognized. And even when the union between stock and diseased scion by callusing was not successful, the transmission was withnesed. On the basis of the symptom, transmission by grafting, and possibility of transmission by sap inoculation(not published yet), it is supposed that the mosaic virus belongs to the group of the black locust mosaic virus that has been reported in southeastern Europe by Atanasoff(1935) and Milinko et al(1961). It is very likely that the witches' broom of black locust recorded by Myung-O Kim et al(1961) in Korea is the mosaic disease.