• Journal of the Daesoon Academy of Sciences
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• v.29
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• pp.241-278
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• 2017

This study aims to classify broadscale anti-religious movements in Korea based on critical public sentiment and analyze the meanings of these movements. To carry out the research, global religious changes that have occurred in modern times were closely looked into first. The world religions have had an influence on the world's religious awareness. As a result, they intend to acquire universality on their own individual grounds while keeping consistency with the past. This phenomenon used to appear to retain the identity, recreate tradition, transform itself to fit in the present times, pursue innovation, or even become overshadowed by other forms of thought such as when religions have collided with nationalism. How does Korean society perceive the changes that emerged in world religions? In general, the circumstances that Korea faces in this era tend to manifest themselves via the Internet, multimedia, and Youtube wherein they sound off on religion and this includes criticism of Christianity, demand for reformation, attack on minor religions, pro-reform academic circles and media, and the propagation of anti-theism. Criticism of religion is interpreted as an anti-religious movement. The secularism and anti-theism brought up by some Western scholars and critical theories of religion from scientific or historical perspectives are being spread through bookstores. Christianity is prone to reflecting on itself and trying to emphasizing a meta-religious spirituality. This in short, characterizes anti-religious movements in Korea. Indeed, criticism against particular religions has also emerged in the past. However, anti-religious movements that have recently come into existence in Korea are in some regards unprecedented when compared to that of the past in terms of their patterns and context. Especially, the active anti-Christianity movement in general is definitely a new phenomenon. This research mainly focused on Christianity, but on-going anti-religious movements will be a major topic for further research that aims to understand the religious changes unfolding in Korea.

• Journal of Ethics
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• no.88
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• pp.103-122
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• 2013

This paper aims to study on conceptual suitability or unfitness of Silhak(實學). It is general that by criticizing Chujahak(朱子學) or beyond the limitation of Seonglihak(性理學), Silhak has developed practical tendency to reforming the society in the middle and end of Chosen Dynasty, related to the context of Korean national reflection in modern times. However, it is unfortunate to be understood. As presented in Chosenwangjosillok(『朝鮮王朝實錄』), there has been a few usages in the term 'Silhak'. In short, it was different from its contemporary meaning. At that time, it was usually used to have the meaning of Gyunghak(經學), compared to Sajanghak(詞章學), or rarely, of 'the true study' or 'the practical study'. Therefore, it is to claim that its conception has been manipulated or exaggerated very seriously. Since 1930s, in particular, its conception has been misused in interpreting works of Jung Yak-Yong by some scholars, such as Jung In-Bo, Moon Il-Pyung and An Jae-Hong, who tried to apply the term to overcome the Japanese colonial era symbolised as modernity based on the future life of Korea. Even though their attempt has led to have crucial discussions on the conceptions of Silhak, it has an unnecessary result that there has been a new and totally different understanding of Silhak in South Korea, North Korea, China, Japan, etc., which means that the unsustainable conception of Silhak has been one of major problems in studying of Silhak. To give an practical solution, I would try to make sense of 'time spirit' whose scholars studied Silhak in the middle and end of Chosen Dynasty. A problem, however, is that a scholar group in the name of Bukhakpa(北學派) had certain links and bonds. This is because many scholars studying of Silhak were usually features out of the main stream, which made them it difficult to form any various groups. That is to say, it seems to be natural that they have dreamed of utopian imaginations less than of overlapping points in reality. To sum up, it would be concluded at least that any approach to human lives and thoughts in the given conceptions of Silhak, e.g. ethical thoughts of Silhak, enables us to be indifferentiated to take its true meaning and time spirit of Chosen Dynasty. To be disenchanted of its social roles in Chosen Dynasty, fundamentally, it should be escaped from the wrong net of illusions and sings in understanding Silhak in certain eclectic steps.

• Proceedings of the Safety Management and Science Conference
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• 2004.11a
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• pp.355-380
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• 2004

I test the hypothesis that the gradual diffusion of information across asset markets leads to cross-asset return predictability in Korea. Using thirty-six industry portfolios and the broad market index as our test assets, I establish several key results. First, a number of industries such as semiconductor, electronics, metal, and petroleum lead the stock market by up to one month. In contrast, the market, which is widely followed, only leads a few industries. Importantly, an industry's ability to lead the market is correlated with its propensity to forecast various indicators of economic activity such as industrial production growth. Consistent with our hypothesis, these findings indicate that the market reacts with a delay to information in industry returns about its fundamentals because information diffuses only gradually across asset markets. Traditional theories of asset pricing assume that investors have unlimited information-processing capacity. However, this assumption does not hold for many traders, even the most sophisticated ones. Many economists recognize that investors are better characterized as being only boundedly rational(see Shiller(2000), Sims(2201)). Even from casual observation, few traders can pay attention to all sources of information much less understand their impact on the prices of assets that they trade. Indeed, a large literature in psychology documents the extent to which even attention is a precious cognitive resource(see, eg., Kahneman(1973), Nisbett and Ross(1980), Fiske and Taylor(1991)). A number of papers have explored the implications of limited information- processing capacity for asset prices. I will review this literature in Section II. For instance, Merton(1987) develops a static model of multiple stocks in which investors only have information about a limited number of stocks and only trade those that they have information about. Related models of limited market participation include brennan(1975) and Allen and Gale(1994). As a result, stocks that are less recognized by investors have a smaller investor base(neglected stocks) and trade at a greater discount because of limited risk sharing. More recently, Hong and Stein(1999) develop a dynamic model of a single asset in which information gradually diffuses across the investment public and investors are unable to perform the rational expectations trick of extracting information from prices. Hong and Stein(1999). My hypothesis is that the gradual diffusion of information across asset markets leads to cross-asset return predictability. This hypothesis relies on two key assumptions. The first is that valuable information that originates in one asset reaches investors in other markets only with a lag, i.e. news travels slowly across markets. The second assumption is that because of limited information-processing capacity, many (though not necessarily all) investors may not pay attention or be able to extract the information from the asset prices of markets that they do not participate in. These two assumptions taken together leads to cross-asset return predictability. My hypothesis would appear to be a very plausible one for a few reasons. To begin with, as pointed out by Merton(1987) and the subsequent literature on segmented markets and limited market participation, few investors trade all assets. Put another way, limited participation is a pervasive feature of financial markets. Indeed, even among equity money managers, there is specialization along industries such as sector or market timing funds. Some reasons for this limited market participation include tax, regulatory or liquidity constraints. More plausibly, investors have to specialize because they have their hands full trying to understand the markets that they do participate in