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Experimental Studies on the Efficiency of the Injection of Mokhyangsunkisan extract, Mokhyangsunkisan plus Rheum undulatum L. extract and Palmisunkisan extract (목향순기산(木香順氣散) 수침액(水鍼液)의 효능(效能)에 관(關)한 실험적(實驗的) 연구(硏究))

  • Kim, Young-Tae;Jeong, Hee-Jae;Jung, Sung-Ki;Rhee, Hyung-Koo
    • The Journal of Korean Medicine
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    • v.17 no.1 s.31
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    • pp.280-301
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    • 1996
  • This thesis is on the effects of the Injections of Mokhyangsunkisan extract, Mokhyangsunkisan plus Rheum undulatum L. extract and Palmisunkisan extract clinical experiments wre done with medicines to research their analgesic and anti-convulsive action and their efficiency on $O_3$ and Xylene-poisoned lung damage and the pulmonary thromboembolism of rats and mice. The results are as follows; 1. As to the analgesic action, each Injection of Mokhyangsunkisan extract, Mokhyangsunkisan plus Rheum undulatum L. extract and Palmisunkisan extract had significant effects. Among them the Injection of Mokhyangsunkisan plus Rheum undulatum L. extract had the highest effect. 2. As to the anti-convulsive action, each Injections of Mokhyangsunkisan extract and Palmisunkisan extract had significant effects whereas that of the Injection of Mokhvangsunkisan plus Rheum undulatum L. extract had no effect. 3. In the frsearch of the Lung TBA values of $O_3$-poisoned rats. each Injection of Mokhyangsunkisan extract and Palmisunkisan extract had significant effects whereas that of the Injection of Mokhyangsunkisan plus Rheum undulatum L. extract had no effect. 4. None of the Injection of Mokhyangsunkisan extract, Mokhyangsunkisan plus Rheum undulatum L, extract and Palmisunkisan extract had significant effects in the experiments about the variation of the $Na^+$ contents and $K^+$ contents in the serum electrolytes of the $O_3$-poisoned rats. 5. In the research of the Lung TBA values of Xylene-poisoned rats all the three Injections had prominent effects. 6. In the research of the Lung weight in Xylene-poisoned rats each Injections of Mokhyangsunkisan extract and Palmisunkisan extract had significant effects whereas that of the Injection of Mokhyangsunkisan plus Rheum undulatum L. extract had no effect. 7. In the experiments about the variation of the $Na^+$ contents in the serum electrolytes of the Xylene-poisoned rats the Injection of Mokhyangsunkisan extract had a significant effect whereas those of the Injections of Mokhyangsunkisan plus Rheum undulatum L. extract and Palmisunkisan extract had no significant effects. 8. None of the Injection of Mokhyangsunkisan extract, Mokhyangsunkisan plus Rheum undulatum L. extract and Palmisunkisan extract had significant effects in the experiments about the variation of the $K^+$ contents in the serum electrolytes of the Xylene-poisoned rats. 9. All the three Injections had prominent death-repressive effects on the pulmonary thromboembolism induced by Sodium Arachidonate. 10. Each Injection of Mokhyangsunkisan extract and Palmisunkisan extract had death-repressive effects on the pulmonary thromboembolism induced by ADP, whereas the Injection of Mokhyangsunkisan plus Rheum undulatum L. extract had a feeble death-repressive effect By all results of the clinical experiments. the following conclusions are drown; Each Injection of Mokhyangsunkisan extract and Palmisunkisan extract has analgesic and anti-convulsive effects and is also effective for the $O_3$ and Xylene-poisoned Lung damage and pulmonary thromboembolism of rats and mice. The Injection of Mokhyangsunkisan plus Rheum undulatum L. extract has on analgesic effect and is also effective for the pulmonary thromboembolism. Especially its analgesic effect is prominent. Therefore, each Injection of Mokhyangsunkisan extract and Palmisunkisan extract can be used for injection to improve the pulmonary functions whereas the Injection of Mokhyangsunkisan plus Rheum undulatum L. extract is partly effective for the improvement of the pulmonary function. In view of the results so far achieved, fluid acupuncture therapy can be applied as well as traditional way of oral administration of the decoction.

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Recent Advancement in the Stem Cell Biology (Stem Cell Biology, 최근의 진보)

  • Harn, Chang-Yawl
    • Journal of Plant Biotechnology
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    • v.33 no.3
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    • pp.195-207
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    • 2006
  • Stem cells are the primordial, initial cells which usually divide asymmetrically giving rise to on the one hand self-renewals and on the other hand progenitor cells with potential for differentiation. Zygote (fertilized egg), with totipotency, deserves the top-ranking stem cell - he totipotent stem cell (TSC). Both the ICM (inner cell mass) taken from the 6 days-old human blastocyst and ESC (embryonic stem cell) derived from the in vitro cultured ICM have slightly less potency for differentiation than the zygote, and are termed pluripotent stem cells. Stem cells in the tissues and organs of fetus, infant, and adult have highly reduced potency and committed to produce only progenitor cells for particular tissues. These tissue-specific stem cells are called multipotent stem cells. These tissue-specific/committed multipotent stem cells, when placed in altered environment other than their original niche, can yield cells characteristic of the altered environment. These findings are certainly of potential interest from the clinical, therapeutic perspective. The controversial terminology 'somatic stem cell plasticity' coined by the stem cell community seems to have been proved true. Followings are some of the recent knowledges related to the stem cell. Just as the tissues of our body have their own multipotent stem cells, cancerous tumor has undifferentiated cells known as cancer stem cell (CSC). Each time CSC cleaves, it makes two daughter cells with different fate. One is endowed with immortality, the remarkable ability to divide indefinitely, while the other progeny cell divides occasionally but lives forever. In the cancer tumor, CSC is minority being as few as 3-5% of the tumor mass but it is the culprit behind the tumor-malignancy, metastasis, and recurrence of cancer. CSC is like a master print. As long as the original exists, copies can be made and the disease can persist. If the CSC is destroyed, cancer tumor can't grow. In the decades-long cancer therapy, efforts were focused on the reducing of the bulk of cancerous growth. How cancer therapy is changing to destroy the origin of tumor, the CSC. The next generation of treatments should be to recognize and target the root cause of cancerous growth, the CSC, rather than the reducing of the bulk of tumor, Now the strategy is to find a way to identify and isolate the stem cells. The surfaces of normal as well as the cancer stem cells are studded with proteins. In leukaemia stem cell, for example, protein CD 34 is identified. In the new treatment of cancer disease it is needed to look for protein unique to the CSC. Blocking the stem cell's source of nutrients might be another effective strategy. The mystery of sternness of stem cells has begun to be deciphered. ESC can replicate indefinitely and yet retains the potential to turn into any kind of differentiated cells. Polycomb group protein such as Suz 12 repress most of the regulatory genes which, activated, are turned to be developmental genes. These protein molecules keep the ESC in an undifferentiated state. Many of the regulator genes silenced by polycomb proteins are also occupied by such ESC transcription factors as Oct 4, Sox 2, and Nanog. Both polycomb and transcription factor proteins seem to cooperate to keep the ESC in an undifferentiated state, pluripotent, and self-renewable. A normal prion protein (PrP) is found throughout the body from blood to the brain. Prion diseases such as mad cow disease (bovine spongiform encephalopathy) are caused when a normal prion protein misfolds to give rise to PrP$^{SC}$ and assault brain tissue. Why has human body kept such a deadly and enigmatic protein? Although our body has preserved the prion protein, prion diseases are of rare occurrence. Deadly prion diseases have been intensively studied, but normal prion problems are not. Very few facts on the benefit of prion proteins have been known so far. It was found that PrP was hugely expressed on the stem cell surface of bone marrow and on the cells of neural progenitor, PrP seems to have some function in cell maturation and facilitate the division of stem cells and their self-renewal. PrP also might help guide the decision of neural progenitor cell to become a neuron.

A study on Significance of Literary History in Kwon Goohyeon's and Han Yongwoon's Sijo (권구현과 한용운 시조의 문학사적 의의 - 1920-1930년대 시조부흥운동의 재인식 -)

  • Yeo, Ji-Sun
    • Sijohaknonchong
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    • v.23
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    • pp.213-239
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    • 2005
  • Si is a genre which has been steadily loved by Korean, Particularly, 1920's through 1930's, the Revival Movement of Sijo is made by the school of Literary for People, including Choi Namseon, Lee Byeonggi and Lee Eunsang. And Kwon Goohyeon, a member of KAPF, and Han Yongwoon, not belonging to any literary group were interested in Sijo. Kwon Goohyeon, both a member of KAPF and an anarchist has published A Present of Black Room(1927), which is one of the two published in 1920's-1920's saw only two volumes of Sijo works be published: Choi Namseon's 108 Agony(1926) and Kwon's. However, Kwon Goohyeon's work has not been illuminated. compared with Choi Namseon's and the Revival Movement Sijo by the school of Literary for People. It is because Korean literary world has been under the anti-communism ideology since the Liberation of Korea. However, it caused to explore proletarianism Sijo (Joh woon) and proletarianism poetry (Park Yeonghee) that Kwon is a memeber of KAPF and an anarchist. Han Yongwoon, not belonging to any literary group, was very famous as the poet of My Belolved One's Silence(1926), not as a Sijo poet. It means that he s not been illuminated as a Sijo poet. However, his Sijo is enough to contain his various features such as a man of Independence Movement, a Buddhist monk, a lyrical poet and so on. His first Sijo is For Planting Mookoonghwa-Poetry Written in Prison(1922), which has been published four years prior to My Beloved One's. And his affection on Sijo is inferred from the fact that he has constantly published Sijo more than free verse. The aim this thesis is to find out a position of Sijo 1920's through 1930's from a study on Kwon Goohyeon's and Han Yongwoon's Sijo. Sijo, Korean traditional literary genre, was written by most of the poets including not only the school of Literary for People but Kwon Goohyeon and Han Yongwoon 1920's through 1930's. As a result, the writing of Sijo was not a partial movement by the anti-KAPF group, but by a paradigm in 1920's through 1930's.

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Recent Developments in Space Law (우주법(宇宙法)의 최근동향(最近動向))

  • Choi, June-Sun
    • The Korean Journal of Air & Space Law and Policy
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    • v.1
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    • pp.223-243
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    • 1989
  • The practical application of modern space science and technology have resulted in many actual and potential gains of mankind. These successes have conditioned and increased the need for a viable space law regime and the challenge of space has ultimately led to the formation of an international legal regime for space. Space law is no longer a primitive law. It is a modern law. Yet, in its stages of growth, it has not reached the condition of perfection. Therefore, under the existing state of thing, we could carefully say that the space law is one of the most newest fields of jurisprudence despite the fact that no one has so far defined it perfectly. However, if space law can be a true jurisprudential entity, it must be definable. In defining the space law, first of all, the grasp of it's nature iis inevitable. Although space law encompasses many tenets and facets of other legal discriplines, its principal nature is public international law, because space law affects and effects law relating intercourse among nations. Since early 1960s when mankind was first able to flight and stay in outer space, the necessity to control and administrate the space activities of human beings has growingly increased. The leading law-formulating agency to this purpose is the United Nation's ad hoc Committee on Peaceful Uses of Outer Space("COPUOS"). COPUOS gave direction to public international space law by establishing the 1963 Declaration of Legal Principles Governing the Activities of the States in the Exploration and Use of Outer Space("1963 Declaration"). The 1963 Declaration is very foundation of the five international multilateral treaties that were established successively after the 1963 Declaration. The five treaties are as follows: 1) The Treaty on Principles Governing the Activities of States in the Exploration and Use of Outer Space including Moon and other Celestial Bodies, 1967. 2) The Agreement on the Rescue of Astronauts, the Return of Astronauts, and the Return of Objects Launched into Outer Space, 1968. 3) The Convention on International Liability for Damage Caused by Space Objects, 1972. 4) The Convention on Registration of Objects Launched into Outer Space, 1974. 5) The Agreement Governing Activities of States on the Moon and Other Celestial Bodies: Moon Treaty, 1979. The other face of space law is it's commercial aspect. Space is no longer the sole domination of governments. Many private enterprise have already moved directly or indirectly into space activities in the parts such as telecommunications and space manufacturing. Since space law as the public international law has already advanced in accordance with the developments of space science and technology, there left only a few areas untouched in this field of law. Therefore the possibility of rapid growth of space law is expected in the parts of commerical space law, as it is, at this time, in a nascent state. The resources of the space environment are also commercially both valuable and important since the resources include the tangible natural resources to be found on the moon and other celestial bodies. Other space-based resources are solar energy, geostationary and geosynchronous orbital positions, radio frequencies, area possibly suited to human habitations, all areas and materials lending themselves to scientific research and inquiry. Remote sensing, space manufacturing and space transportation services are also another potential areas in which commercial. endeavors of Mankind can be carried out. In this regard, space insurance is also one of the most important devices allowing mankind to proceed with commercial space venture. Thus, knowlege of how space insurance came into existence and what it covers is necessary to understand the legal issues peculiar to space law. As a conclusion the writer emphasized the international cooperation of all nations in space activities of mankind, because space commerce, by its nature, will give rise many legal issues of international scope and concern. Important national and world-community interests would be served over time through the acceptance of new international agreements relating to remote sencing, direct television broadcasting, the use of nuclear power sources in space, the regularization of the activities of space transportation systems. standards respecting contamination and pollution, and a practical boundary between outer space and air space. If space activity regulation does not move beyond the national level, the peaceful exploration of space for all mankind will not be realized. For the efficient regulation on private and governmental space activities, the creation of an international space agency, similar to the International Civil Aviation Organization but modified to meet the needs of space technology, will be required. But prior to creation of an international organization, it will be necessary to establish, at national level, the Office of Air and Space Bureau, which will administrate liscence liscence application process, safety review and sale of launch equipment, and will carry out launch service.

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Empirical Study of Key Factors in Satisfaction with Subway Services (지하철 이용만족도 결정요인에 관한 실증적 연구 -서울지역을 중심으로-)

  • Shim, Jong-Seop;Jeon, Ki-Heung
    • Korean Business Review
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    • v.13
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    • pp.49-66
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    • 2000
  • Despite the fact that understanding customers satisfaction with transportation services is a subject of great importance, authors, so far, found no systematic researches referred to that issue. From this point, studying the satisfaction with subways services can be extremely useful. Empirical study of key factors in the satisfaction with subway services is the departure point, which holds as objectives, and we believe, will contribute to overall increasing in the number of subways services used and in the amount of public benefits derived from that usage. In order to achieve these goals: First, several items referred to some key factors in the satisfaction of subway usage were systemized. Second, a research of specific weights attached to those key factors by subway passengers was conducted. Knowledge of the satisfaction variables system can provide deep insights into ones perceptual experience when using a subway. The results were as follows: Various interrelated factors compose a passengers satisfaction with subway services. People do not just use subway passively; a number of key factors, like physical and personal services, exact timing, easiness to access etc. determine the passengers satisfaction with subway. In order to find out specific weights of these key factors multiple regression analysis was employed. Results showed that satisfaction with subway is determined by (in order of importance) easiness to access, quality of physical services, friendliness of working stuff and timing exactness. According to the findings, passengers do not use subway as a simple mean of transportation, rather they perceive it as a complex combination of environmental elements and overall satisfaction depends on these various factors. Therefore, to learn passengers satisfaction with subways services, passengers subway experience must be thoroughly studied and analyzed, and this is where papers value resides.

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The Relationship between Alcohol Drinking Patterns and Blood Pressure in Some Rural Elderly Aged 60~64 (일부 60~64세 농촌노인에서 음주양상과 혈압과의 관련성)

  • Lee, Moo-Sik;Bae, Jang-Ho;Park, Ki-Rack;Lee, Choong-Won
    • Journal of agricultural medicine and community health
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    • v.26 no.1
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    • pp.1-17
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    • 2001
  • This study was conducted to investigate the role of drinking pattern in the relationship of alcohol consumption by face-to-face interview in rural elderly(n=994) aged 60~64 in Dalsung County, April to September in 1996. Pattern of alcohol drinking included drinking status, alcohol drinking at the morning without breakfast, average drinks per day, frequency of drinks per month, quantity of alcohol drinking, kind of preferred alcoholic beverage and duration of alcohol drinking. Blood pressure was measured once in each subject using a portable automatic sphygmomanometer. Difference in means of systolic blood pressure, alcohol drinking status, alcohol drinking at the morning without breakfast, and kind of alcoholic beverage were statistically significant before adjusting covariates, but alcohol drinking status and alcohol drinking at the morning without breakfast were statistically significant after adjusting covariates. And difference in means of diastolic blood pressure, kinds of alcoholic beverage was statistically significant before adjusting covariates, but no variables was significant after adjusting covariates. Model I multiple regression for systolic blood pressure that included average drinks per day as the variable of drink pattern, age, educational attainment and, previous history of cardiovascular disease were statistically significant, and multiple regression for diastolic blood pressure, educational attainment, BMI, and previous history of cardiovascular disease were statistically significant. Model II multiple regression for systolic blood pressure that included drinking patterns variables except average drinks per day, previous history of cardiovascular disease were statistically significant. However, multiple regression for diastolic blood pressure, no variables were significant. So, inconsistent with prior research, a positive relationship was not found between average drinks per day and diastolic and systolic blood pressure. The effect of alcohol drinking patterns on blood pressure has public health as well as clinical relevance. The study should be replicated to determine the reliability of our findings.

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Growth enhancement and cytotoxicity of Korean mistletoe fractions on human cell lines (한국산 겨우살이 분획물의 면역세포의 생육증진 및 세포독성)

  • Lee, So-Jin;Lee, Mi-Kyoung;Choi, Geun-Pyo;Yu, Chang-Yeon;Roh, Seong-Kyu;Kim, Jong-Dai;Lee, Hyeon-Yong;Lee, Jin-Ha
    • Korean Journal of Medicinal Crop Science
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    • v.11 no.1
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    • pp.62-70
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    • 2003
  • The biological activities on human immune and cancer cell lines of the four kinds of Korean mistletoes (Korean Viscum album, var. coloratum, : Korean Viscum sp. in Quercus acutissima Carr., Korean Viscum sp. in Castanea crenata, Korean Viscum sp. in Betula platyphylla, and Korean Viscum sp. in Salix koreensis) extracts were investigated. The extracts were preparated with ethanol, and fractionated with n-butanol, ethyl acetate, chloroform, hexane, and second distilled water. Cytotoxic potencies of the fractions on human normal lung cell line (HEL 299) showed under 28% in the concentration of 0.5 mg/ml. Growth inhibition effect of the Korean mistletoe extracts on the several human cancer cell lines depends on the concentration of the extracts, and extracting solvent. The hexane, chloroform, and ethyl acetate fractions indicated a strong anticancer activity, but not in aqueous and butanol fractions. Some mistletoe fractions have a different characteristic on the cancer cell lines. Stimulation on the growth of human immuno cell lines(B cell : Raji, T cell: Jurkat) of the extracts were confirmed in the ethyl acetate, chloroform, hexane fractions, but not in aqueous system.

Studies on Cryo-preservation of Registered Strains of Lentinula edodes (표고 등록균주의 초저온 보존에 관한 연구)

  • Ryu, Sung-Ryul;Bak, Won-Chull;Koo, Chang-Duck;Ka, Kang-Hyeon
    • Journal of Korean Society of Forest Science
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    • v.98 no.1
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    • pp.115-124
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    • 2009
  • New strain needs to maintain desirable characteristics for long term when it was bred, but in lapse of time it degenerates into a bad condition. Therefore the influence of temperature on the viability and survival rates of Lentinula edodes strains were examined after cryopreservation. Also, liquid nitrogen preservation for L. edodes has been proved to be one of the most reliable method. However, a mechanical damage of strain is inevitable during cryopreservation of the fungus because the fungus is very sensitive to stress of cooling rate in the freezing process. So we tried to find out state change of L. edodes with a programmable freezer. L. edodes strains were preserved at $-20^{\circ}C$, $-80^{\circ}C$ and $-196^{\circ}C$ for 50 days. At $-20^{\circ}C$, its mycelial growth became extinct. When thawed, the growth of mycelia which were preserved at $-80^{\circ}C$ was fastest. Attempts were made to investigate viability of L. edodes strains after freezing at $-80^{\circ}C$ and $-196^{\circ}C$, respectively. As the result, more than 90% showed high survival rate of strains tested at $-80^{\circ}C$ and $-196^{\circ}C$. Mycelial growth between apical and basal parts of colony after freezing preservation for 50 days was compared. At apical and basal parts, the survival rates showed 100% at $-80^{\circ}C$, but 98% and 94% at $-196^{\circ}C$, respectively. We confirmed that the ice crystal formation temperatures of L. edodes strains were $-6.0^{\circ}C$ for Sanlim 1, $-5.5^{\circ}C$ for the Sanlim 2, $-4.0^{\circ}C$ for the Sanlim 3 and $-15.5^{\circ}C$ for the Sanzo 302. These results indicated that L. edodes strains showed completely different responses to the ice crystal formation. We knew the fact that even the same species, especially L. edodes, they displayed completely different responses to the same freezing condition. Also, this has nothing to do with the connection between temperature type and freezing point. And a protocol was tried to minimize state change of L. edodes strains using programmable freezer when they are frozen, but it was not effective on them.

EU Integration and Its Aviation Relationship with Third Countries (유럽연합(EU) 통합과 제3국과의 항공관계)

  • Lee, Jong-Sik
    • The Korean Journal of Air & Space Law and Policy
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    • v.21 no.1
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    • pp.135-167
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    • 2006
  • Air service agreements between EU Member States and third countries concluded by Sweden, Finland, Belgium, Luxembourg, Austria, the Netherlands, Denmark and the United Kingdom after the Second World War infringe EU law. They authorize the third countries to withdraw, suspend or limit the traffic rights of air carriers designated by the signatory States. According to the Court of Justice of the European Communities (CJEC), these agreements infringe EU law in two respects. On the one hand, the presence of nationality clauses infringes the right of European airlines to non-discriminatory market access to routes between all Member States and third countries. On the other hand, only the EU has the authority to sign up to this type of commitment where agreements affect the exercise of EU competence, i.e. involve an area covered by EU legislation. The Court held that since the third countries have the right to refuse a carrier, these agreements therefore constitute an obstacle to the freedom of establishment and freedom to provide services, as the opening of European skies to third countries' companies is not reciprocal for all EU airlines. In the conclusion, in order to reconstruct these public international air law, The new negotiations between EU member states and third countries, especially the US, must be designed to ensure an adequate set of principles, so that Member States, in their bilateral relations with third countries in the area of air service, should consider following three models. The 1st, to develop a new model of public international air law such as a new Bermuda III. The 2nd, to reconstruct new freedoms of the air, for example, the 7th, 8th, and 9th freedoms. The 3rd, to explore new approaching models, such as complex system theory explored in the recent social sciences, to make access world-wide global problems instead of bilateral problems between EU member states and United States. The example will show any lessons to air talks between European Union and ROK.

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A Study on the Determination of Tramp Freight Rates (부정기선 운임율의 결정에 관한 이론적 고찰)

  • 이종인
    • Journal of the Korean Institute of Navigation
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    • v.4 no.2
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    • pp.45-79
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    • 1980
  • The aim of this paper is to analyze the mechanics of price formation in the tramp shipping. For the purpose of this study, the main characteristics of tramp freight rates and the market is examined, and a brief examination of the nature ofthe costs of operation is given which are essential for the understanding of the functioning of shipping firms as well as for the understanding of developments in the tramp freight market. The demand and supply relationships in the market is also analysed in detail. Tramp shipping is an industry that has a market which functions under conditions that are not dissimilar to the theoretical model of perfect competition. However, it does notmean that tramp shipping market is a perfectly competitive market. It is apparent that this realworld competitive system has its imperfections, which means that the market for tramp shipping is near to being a perfectly competitive market on an internaitonal scale and it is freight are therefore subjext to the laws of supply and demand. In theory, the minimum freight rate in the short term is that at which the lowest cost vessels will lay-up in preference to operating, and is equal to the variable costs minus lay-up costs; and this would imply that in all times except those of full employment for ships there is a tendency for newer low-cost, and, probably, faster vessels to be driving the older high-cost vessels in the breaker's yards. In this case, shipowners may be reluctant to lay-up their ships becasue of obligations to crews, or because they would lose credibility with shippers or financiers, or simply because of lost prestige. Mainly, however, the decision is made on strictly economic grounds. When, for example, the total operating costs minus the likely freight earnings are greater than the cost of taking the ship out of service, maintaining it, and recommissioning it, then a ship may be considered for laying-up; shipowners will, in other words, run the ships at freight earnings below operating costs by as much as the cost of laying them up. As described above, the freight rates fixed on the tramp shipping market are subject to the laws of supply and demand. In other words, the basic properties of supply and demand are of significance so far as price or rate fluctuations in the tramp freight market are concerned. In connection with the same of the demand for tramp shipping services, the following points should be brone in mind: (a) That the magnitude of demand for sea transport of dry cargoes in general and for tramp shipping services in particular is increasing in the long run. (b) That owning to external factors, the demand for tramp shipping services is capable of varying sharphy at a given going of time. (c) The demad for the industry's services tends to be price inelastic in the short run. On the other hand the demand for the services offered by the individual shipping firm tends as a rule to be infinitely price elastic. In the meantime, the properties of the supply of the tramp shipping facilities are that it cannot expand or contract in the short run. Also, that in the long run there is a time-lag between entrepreneurs' decision to expand their fleets and the actual time of delivery of the new vessels. Thus, supply is inelastic and not capable of responding to demand and price changes at a given period of time. In conclusion, it can be safely stated that short-run changes in freight rates are a direct result of variations in the magnitude of demand for tramp shipping facilities, whilest the average level of freight rates is brought down to relatively low levels over prolonged periods of time.

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