• The Korean Journal of Financial Management
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• v.21 no.2
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• pp.125-151
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• 2004

This study tests the price discovery from US Treasury bond markets to Korean bond markets using the daily returns of Korean bond data (CD, 3-year T-note, 5-year T-note, 5-year corporate note) and US treasury bond markets (3-month T-bill, 5-year T-note 10-year T-bond) from July 1, 1998 to December 31, 2003. For further research, we divide full data into two sub-samples on the basis of the start-up of bond valuation system in Korean bond market July 1, 2000, employing uni-variate AR(1)-GARCH(1,1)-M model. The main results are as follows. First the volatility spillover effects from US Treasury bond markets (3-month T-bill, 5-year T-note, 10-year T-bond) to Korean Treasury and Corporate bond markets (CD, 3-year T-note, 5-year T-note, 5-year corporate note) are significantly found at 1% confidence level. Second, the price discovery function from US bond markets to Korean bond markets in the sub-data of the pre-bond valuation system exists much stronger and more persistent than those of the post-bond valuation system. In particular, the role of 10-year T-bond compared with 3-month T-bill and 5-year T-note is outstanding. We imply these findings result from the international capital market integration which is accelerated by the broad opening of Korean capital market after 1997 Korean currency crisis and the development of telecommunication skill. In addition, these results are meaningful for bond investors who are in charge of capital asset pricing valuation, risk management, and international portfolio management.

• The Korean Journal of Financial Management
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• v.27 no.1
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• pp.181-208
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• 2010

In July 2007, Korean government has passed "The Capital Market and Financial Investment Services Act" to further develop the capital markets and the Act was to become effective in February 2009. Using a large sample of Korean firms, we have examined (i) the effect of underwriting activities on the firm value (bond spread) comparing commercial bank and investment bank, and (ii) the determinants of the firm value changes following underwriting activities of bank. To test our goal, we collected a wide range of samples of data for bond issuing activities executed by Korean firms listed on the Korea Stock Exchange (KSE) between 2000 and 2003. Our paper is distinguished from previous studies on this subject in a way that we analyzed the effect of corporate bond underwriting activities with regard to commercial banking and investment banking. Initially, we set up a hypothesis that "Certification View" and "Conflict-of-interest View" are major driving forces behind cross-firm differences in performance following bond issuance. We find that, in general, underwriting by investment bank (securities company) brings a positive effect on the firm value (spread between bench mark rate and bond issuing rate). This result indicates that firm value has been negatively affected by the bank underwriting and provides the evidence for "Conflict-of-interest View" in Korea. Our studies have also revealed that any change in firm value following bond issuance is positively related with the firm size (total asset), operating performance, liquidity (cashflow), and equity ownership by foreign investors. Overall, our results support the view that bank underwriting activities can play an important role in determining firm value and financial strategies under "The Capital Market and Financial Investment Services Act" of 2007.

• Korean Chemical Engineering Research
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• v.56 no.1
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• pp.6-13
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• 2018

Utilizing the heat of cooling water discharge of coal-fired power plant, pipeline investment costs for businesses that supply heat to agricultural facilities near power plants increase in proportion to installation distance. On one hand, the distance from the power plant is a factor that brings difficulties to secure economic efficiency. On the other, if the installation distance is short, there is a problem of securing the heating demands, facility houses, which causes economical efficiency to suffer. In this study, the economic efficiency of 1km length of standard heat pipeline was evaluated. The sensitivity of the heat pipe to the new length variation was analyzed at the level of government subsidy, amount of heating demand and the incremental rate of pipeline with additional government subsidy. As a result of the analysis, it was estimated that NPV 131 million won and IRR 15.73%. The sensitivity analysis showed that NPV was negative when the length of heat pipe facility exceeded 2.6 km. If the government supports 50% of the initial investment, the efficiency is secured within the estimated length of 5.3 km, and if it supports 80%, the length increases within 11.4 km. If the heat demand is reduced to less than 62% at the new length of the standard heat pipe, it is expected economic efficiency is not obtained. If the ratio of government subsidies to initial investment increases, the elasticity of the new bloc will increase, and the fixed investment, which is the cost of capital investment for one unit of heating demand, will decrease. This would result in a reduction in the cost of production per unit, and it would be possible to supply heat at a cheaper price level to the facility farming. Government subsidies will result in the increased economic availability of hot plumbing facilities and additional efficiencies due to increased demand. The greater government subsidies to initial investment, the less farms cost due to the decrease in the price per unit. The results of the study are significant in terms of the economic evaluation of the effectiveness of the government subsidy for the thermal power plant heat utilization project. The implication can be applied to any related pilot to come.

• Journal of the Korean Society of Food Science and Nutrition
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• v.38 no.6
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• pp.683-693
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• 2009

This study was designed to investigate the effect of dandelion juice supplementation on attenuation of oxidative stress and hangover after drinking alcohol in healthy college male students. This human trial was conducted by two phase cross over design with two weeks wash out period. The subjects (age $24{\sim}28$ years) were volunteers who had more than 72 g of ethanol drinking capacity. Dandelion group was given dandelion juice 220 mL daily for 7 days. Biochemical markers were determined in blood samples taken at 0 and 150 minutes after administration 72 g of alcohol. The levels of plasma glutamic oxaloacetic transaminase, glutamic pyruvic transaminase, lactate dehydrogenase and bilirubin, the indicators of liver cell damage, were not significantly different between groups. No significant differences in lymphocyte DNA damage level between groups was observed. However, plasma acetaldehyde dehydrogenase (ALDH) and high density lipoprotein cholesterol levels were significantly (p<0.01) increased in dandelion supplemented group compared to that of control group. Furthermore, activities and protein expressions of glutathione-reductase and catalase of erythrocytes were significantly elevated in dandelion supplemented group compared to that of control group. From the above results, it is concluded that dandelion juice supplementation can reduce oxidative stress and hangover syndrome through the elevation of ALDH and antioxidative enzyme system in healthy male adults.

• Journal of Korean Society of Forest Science
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• v.98 no.1
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• pp.16-25
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• 2009

Cauliflower mushroom (Sparassis crispa) is recently recognized as a new edible and/or medicinal mushroom cultivated with conifers. By the way, the mushroom is notorious as a brown-rot fungus that causes a buttrot of larch. So, there should be a careful consideration to apply the mushroom cultivation in coniferous stand. This study was conducted to clarify the seriousness of heartwood decay on conifers such as larch by cauliflower mushroom with surveying the mushroom producing environment and to examine whether the cultivation of cauliflower mushroom produce any problem in conifer stands or not. The mushroom occurred in various coniferous stands such as Larix kaempferi, Pinus koraiensis, P. densiflora and Abies holophylla on fertile soils with adequate moisture. Soil texture of the mushroom producing site was comparatively fine compared to general forest soils; sandy loam, loam and silty loam. Soil pH ranged from 4.6 to 5.2, and organic matter contents were 4~11%, which showed relatively wide range. We could find S. crispa by a DNA technique from the wood that seemed to have no heartwood decay by naked eyes. The damaged wood showed 30% higher moisture contents than that of sound wood, while the compressive strength was 30% lowered down compared to that of sound wood. The fungus may invade conifers through the scars occurred on roots or stems, in this case spore dispersion of the mushroom takes a great role. Thus, we concluded that forest tending activities need to be applied with considering the invasion of S. crispa, and cultivation of cauliflower mushroom in forest should be attempted very carefully. By the way, we also infer that conifer stands can be nurtured without heartwood decay by S. crispa if the stand be managed in good aeration conditions by proper silvicultural practices such as sanitary thinning.

• Journal of the Korean Home Economics Association
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• v.37 no.5
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• pp.61-84
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• 1999

The purpose of this study is to understand the context of cosumers' lives in Korea with a narrative analysis method. The epistemological orientation of eh narrative analysis is Interpretivism, which blends the two polar philosophical perspectives, Empiricism and Rationalism, and includes Narrotology, Hermeneneutics, Semiotics, and Structural Criticism. Narrative analysis takes as its object of investigation the story itself. This study collects eleven narrative plots from four housewives, into which Labov's structural approach is applied. This study shows clearly that the socio-cultural environment in which consumers live has strong influence on their consumption behavior and also reveals that narrativization tells not only about past actions but how individuals understand those actions, that is, meaning.

• Journal of the Korean Society for Marine Environment & Energy
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• v.17 no.2
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• pp.153-165
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• 2014

Carbon dioxide capture and storage (CCS) technology is recognizing one of method responding the climate change with reduction of carbon dioxide in atmosphere. In Korea, due to its geological characteristics, sub-seabed geological $CO_2$ storage is regarded as more practical approach than on-land storage under the goal of its deployment. However, concerns on potential $CO_2$ leakage and relevant acidification issue in the marine environment can be an important subject in recently increasing sub-seabed geological $CO_2$ storage sites. In the present study effect data from literatures were collected in order to conduct an effect assessment of elevated $CO_2$ levels in marine environments using a species sensitivity distribution (SSD) various marine organisms such as microbe, crustacean, echinoderm, mollusc and fish. Results from literatures using domestic species were compared to those from foreign literatures to evaluate the reliability of the effect levels of each biological group and end-point. Ecological effect guidelines through estimating level of pH variation (${\delta}pH$) to adversely affect 5 and 50% of tested organisms, HC5 and HC50, were determined using SSD of marine organisms exposed to the $CO_2$-induced acidification. Estimated HC5 as ${\delta}pH$ of 0.137 can be used as only interim quality guideline possibly with adequate assessment factor. In the future, the current interim guideline as HC5 of ${\delta}pH$ in this study will look forward to compensate with supplement of ecotoxicological data reflecting various trophic levels and indigenous species.

• The Korean Journal of Nuclear Medicine
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• v.33 no.2
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• pp.131-142
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• 1999

Purpose: Either gated myocardial perfusion SPECT or attenuation corrected SPECT can be used to improve specificity in the diagnosis of coronary artery disease. We investigated in this study whether gating or attenuation correction improved diagnostic performance of rest/stress perfusion SPECT in patients having intermediate pre-test likelihood of coronary artery disease. Materials and Methods: Sixty-eight patients underwent rest attenuation-corrected T1-20l/dipyridamole stress gated attenuation-corrected Tc-99m -MIBI SPECT using an ADAC vertex camera (M:F=29:39, aged $59{\pm}12$ years, coronary artery stenosis ${\geq}70%$, one vessel: 13, two vessel: 18, three vessel: 8, normal: 29). Using a five-point scale, three physicians graded the post-test likelihood of coronary artery disease for each arterial territory (1:normal, 2: possibly normal, 3:equivocal, 4. possibly abnormal, 5: abnormal). Sensitivity, specificity and area under receiver-operating-characteristic curves were compared for each operator between three methods : (A) non-attenuation-corrected SPECT; (B) gated SPECT added to (A): and (C) attenuation-corrected SPECT added to (B). Results: When grade 3 was used as the criteria for coronary artery disease, no differences in sensitivity and specificity were found between the three methods for each operator. Areas under receiver-operating-characteristic curves for diagnosis of coronary artery disease revealed no differences between each modality (p>0.05). Conclusion: In patients at intermediate risk of coronary artery disease, gated SPECT and attenuation- corrected SPECT did not improve diagnostic performance.

• Korean Journal of Food Science and Technology
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• v.41 no.4
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• pp.458-463
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• 2009

To establish and validate a liquid chromatography-tandem mass spectrometry (LC-MS/MS) method for the rapid and accurate quantitation of diarrhetic shellfish poisoning (DSP) toxins, we compared the results from different mobile phases and columns used for their analysis and collision energies for MS/MS experiments. Clear peaks of okadaic acid (OA) and dinophysistoxin-1 (DTX1) were obtained by using a mobile phase comprising aqueous acetonitrile containing 2 mM ammonium formate and 50 mM formic acid. The collision energies were optimized to facilitate the most sensitive detection for each toxin, namely, OA, DTX1, pectenotoxin-2 (PTX2), or yessotoxin (YTX). Further, the maximum ion response was obtained at a collision energy of 48 V for OA and DTX1. We compared the analytical performance of $C_8$ and $C_{18}$ columns. A wide range of toxins namely, OA, DTX1, PTX2, and YTX, except DTX3, were detected by both the columns. Although DTX3 was only detected by the $C_8$ column, we found that the $C_{18}$ column was also suitable for the quantitation of OA and DTX1 the toxins responsible for inducing diarrhea. The limit of detection of OA and DTX1 by the established LC-MS/MS conditions was 1 ng/g, and the limit of quantitation of the toxins under the same conditions was 3 ng/g. The process efficiencies were 91-118% for oysters (Crassostrea gigas) and 96-117% for mussels (Mytilus galloprovincialis) further, we observed no significant effect of matrix during the ionization process in LC-MS/MS. The comparison between mouse bioassay (MBA) and LC-MS/MS yielded varying results because low concentrations of OA and DTX1 were detected by LC-MS/MS in some shellfish samples, which provided positive results on MBA for DSP. The analysis time required by MBA for DSP analysis can be reduced by LC-MS/MS.

• Journal of the Korean Society of Marine Environment & Safety
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• v.25 no.7
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• pp.867-873
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• 2019

As of August 2019, there were 3,823 vessels under 30 tons that could be included in the category of small vessels; these account for 42.5 % of the 9,001 registered vessels in Korea. The problem is that many small vessel seafarers face many problems such as an board communication disconnection, difficulties in communication in maritime license interviews, or education related to maritime training using a large number of nonstandard terms, which are derived from foreign languages; this is leading to a decline the job skills of small vessel seafarers. Therefore, in this study, we closely analyzed the terminology of small vessel seafarers and proposed a standardization plan. In the terminology analysis, the preliminary terms of the maritime license interview and the high-frequency terms of the small vessel educational textbook were identified and the corresponding nonstandard terms were examined. Based on a survey, an expert meeting was held and incorrect Japanese notation, English notation, and the standard language for key terms were presented to analyze which questionnaire was most familiar. The ratio of the use of standard words is relatively high in the case of nautical terms, however, the wrong Japanese notation is used more for engine terms; the analysis results by age and tonnage also generally use the Japanese notation and the use frequency of English notation was determined to be low. Based on this, short- and long-term plans for the use of standard words by small vessel seafarers were proposed, including the production of a standard language dictionary for terms used by these seafarers, a promotion of the importance of using standard terms, active education through educational institutions, and the systematic preparation and implementation of Korean-language education for foreign sailors.