• 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.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.28 no.4
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• pp.76-84
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• 2010

Darangyi paddy in Namhae Gachon village provides natural beauty with its distinct location. Darangyi is a traditional Korean landscape, shaping a circular form to serve continuous cultivation. Despite the paddy's landscape, it is difficult to preserve its natural scenery due to many factors such as inadequate visual analysis. Under the belief that there is a necessity to preserve Darangyi paddy, the research in visual features of the paddy began to illustrate the relevance between its viewpoint and landscape objects. First, we researched typical view structures. When considering the visual features, Darangyi paddy landscape objects has a viewpoint from the horizontality to its below, which its center area is about $-5^{\circ}{\sim}-30^{\circ}$. From the analyzed data, the scenary of Darangyi paddy, which most people agree its decency, is formed in a visually decent location. The above type of measure of visual structure in Darangyi paddy is expected to be applied in maintenance of foothold of views in the future. Second, the surrounding elements play important parts to form the whole landscape of Gachon Darangyi paddy. Although Darangyi paddy is the principal part of the scenary, the landscape analysis showed a high relevance with the paddy's identity, forest around the paddy, sky, ocean, settlements, and the roads in terms of visual perception. It was affirmed that those elements around the paddy play important parts in structuring and providing the beauty of the whole landscape. Various viewy objects are seen obvious especially in a long distance, and the splendid scenary proved that those viewy objects are in indispensable location. In order to preserve the paddy, it seems necessary to consider the surrounding envrionment of Darangyi paddy, not just the paddy's sole landscape form. Third, Darangyi paddy has a distinct seasonal characteristics. According to the survey analysis, the full heading time in spring and time when people can take a picture against the sun light proved magnificence of Darangyi paddy. Thus, it would be ideal to maintain Darangyi paddy by securing the sunlight condition with decent landscape view and the views from its surrounding environments or researching the ways to principally maintain the surrounding environments.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.34 no.3
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• pp.50-66
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• 2016

This study attempts to understand and explain how "Directed Attention Restorative Environment (DARE)" is managed and fostered in "Gang-Hak (講學)" and "Yu-Sik (遊息)" spaces both inside and outside of Oksan Seowon Confucian Academy, Gyeongju. Directed Attention is a pivotal element in human information processing so that its restoration is crucial for effective thinking and learning. According to Kaplan & Kaplan's Attention Restoration Theory, an environment, in order to be restorative, should have four elements: 'Being Away,' 'Extent,' 'Fascination,' and 'Compatibility.' We could confirm OkSan Seowon Confucian Academy has an inner logic that integrates two basically different spacial concepts of "Jangsu" and "Yusik" and thus fosters the Attention Restorative Environment. Particularly, the Four Mountains and Five Platforms (四山五臺) surrounding the premises provides an excellent learning environment, and is in itself educational in terms of the Neo-Confucian epistemology with "Attaining Knowledge by way of Positioning Things (格物致知)" as its principle precept, and of its aesthetics with "Connectedness with Nature" as its central tenet. This study attempts to recapture the value of Korea's cultural heritage concerning the Human/Nature relationship; and it may provide useful insights and practical guidelines/grounds in designing today's schools and campuses, where the young people's needs for the Directed Attention- and Attention Restorative- Servicescapes seem to be greater than ever.

• Journal of the Korean Institute of Landscape Architecture
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• v.43 no.2
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• pp.87-104
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• 2015

As the influence of Landscape Urbanism has grown, various criticisms on the discourse also have increased. A study on critical opinions of Landscape Urbanism is necessary to fully comprehend the theoretical structure of the discourse and its limitations. This study introduced the concept of Intension and Extension, which is used in the field of Logics and Semiotic, as an analytical tool to interpret various criticisms based on different views in a more objective and synthetic way. After examining the development of criticisms of Landscape Urbanism, 30 texts with important critiques on the theory were selected and analyzed. Criticisms can be classified as internal criticism and external criticism according to specific topics they are engaged with. The study only covers internal criticism as a research scope. The internal criticisms on Landscape Urbanism are re-categorized into topics of theory, practice and the relation between theory and practice. Vagueness of concepts and error in concepts are two types criticism related to the issue of theory. Lexical Ambiguity and Intensional Vagueness are the main causes of conceptual vagueness in Landscape Urbanism. Conceptual vagueness related with the problem of redefining an existing concept through expanding its meaning reveals a structural dilemma. There are three types of criticism included in the topic of practice: absence of practical results, form-oriented practice, and ambiguous identity in practical results. Ambiguous identity is caused by Extensional Vagueness allowing borderline cases. Because these borderline cases overlap with extensions of landscape architecture, it is hard to differentiate projects of Landscape Urbanism and those of conventional landscape architecture. Most criticisms on the relation between theory and practice raise the question on the practical method. Two types of criticism are engaged with the topic of the practical method: errors in practical methods and absence of practical methods. The absence of practical methods is a fundamental problem of Landscape Urbanism which is hard to solve by the proposed solutions. However, these structural problems are not only the weak point but also the factor that is able to prove the potentials expand the scope of Landscape Urbanism. In addition to the results of the study, internal criticisms on Landscape Urbanism should be examined in the following studies in order to predict the next direction of Landscape Urbanism.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.31 no.4
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• pp.70-83
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• 2013

To widen prospect of villa as Korea traditional garden, the result of the research about constructional characteristics of Seogo-jeongsa and Sameun-jeong of Yeoju Lee family at Toero-ri, Miryang-si, Gyeongsangnam-do, Korea, is abstracted as below. Seogo-jeongsa(西皐精舍) and Sameun-jeong(三隱亭) was intended to practise retirement with sense of unity with the head residence, since Seogo-jeongsa was 340m far and sameun-jeong was 630m far away from head residence, which set within 1km. Although Seogo-jeongsa's basic prop, Sameun-jeong's timber, which are both from designer's pen name and head residence name, "Hangjae(恒齋)" and "Yongjae(庸齋)," and Hanseoam have each different exposure, it is homogeneous as space configurational side in order to optimize the gaze leading effect and appreciated domestic trees from the pond, which is center of the garden and the significant facility. Method of direction of Seogo-jeongsa's Hwalsudang(活水塘) and Sameunjeong's pond of Sameun-ji(三隱 池) gets attention by distinction. Especially, directing of 3 step water flow from behind to front and traditional pond method, called Bangji-Bangdo(方池方島), were very unique that any other place can be found. Also, the middle islet on the pond at both villa, which isn't more supper, but more for the symbolic molding that seek a stone pagoda(石假山), is more interesting directing method as considering the relationship of the 3 stone pagoda imageries on the surface of Ghwayukchon(果肉泉) At the same time, Seogo-jeongsa and Sameun-jeong shows very different characteristics from traditional villa that adopted both domestic trees and foreign trees. Particularly, it is extremely exceptional case to plant vigorous needleleaf tree, such as Chamaecyparis pisifera, C. obtusa, Pinus bungeana, P. palustris, Sciadopitys verticillata, Metasequoia glyptostroboides and Cedrus deodara, on Sameun-jeong. Moreover, adopting foreign wild needleleaf trees for landscaping trees, such as a Torreya nucifera, Taxus cuspidata, P. parviflora, and foreign landsacping trees, such as P. bungeana, Cryptomeria japonica and C. obtusa tells planting trend of the late Joseon dysnasty era. Also, as we can know from 2 Jipgyeong(集景), which is 'Seogo-jabyoung 17 young(西皐雜詠十七詠)', and 'Sameun-jeong 12 Gyoung(三隱亭十二景)' which are set on both villa, the intend to expand the garden area is strongly shown by the natural forest directing. As a result, Seogo-jeongsa and Sameun-jeong, located at Toero-li Miryang, are sharing the traditional Joseon dynasty era's custom, such as space and visual composition; however, it is different and attractive garden remains as a point of view of water directing, stone pagodas, and adopting foreign landscaping trees.

• Journal of the Korean Society of Marine Environment & Safety
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• v.23 no.6
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• pp.719-730
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• 2017

Recently, oceanic research has been carried out investigating global scientific interests and the territorial management of national marine jurisdictional waters, including exclusive economic zones (EEZ) and the open seas. To meet the needs of ocean researchers pursuing these - objectives, acquiring advanced research infrastructure, including research vessels, large facilities, and equipment, is a top priority in ocean science. However, ocean science is a similar to space science, and securing resources and state-of-the-art technology can be expensive. Faced with these challenges, our study focused on establishing a strategy for the efficient operation and management of research vessels, attempting to establish benchmarks from foreign examples that can be adapted to suit the target context. The results of this study provide ways to identify operating systems that could increase the efficiency of joint-use research vessels. The different systems examined in this study included a joint-use committee-based management system (JCMS, Type 1), private enterprise entrusted operating system (PEOS, Type 2), institutional investment operating system (IIOS, Type 3), and commissioned executive operating system (CEOS, Type 4). The efficiencies of JCMS, PEOS, IIOS and CEOS were 9.17, 5.82, 11.2 and -1.72 %, respectively. Given the total costs involved, the most affordable operating system was IIOS. JCMS was the most cost-effective system based on a quantitative cost-benefit analysis, but IIOS also had an acceptable cost-benefit balance. An operational committee would be required and regulations and guidelines shoulde be established to employ, JCMS, while a strategy to yield independent revenue would be needed to utilize an IIOS system.

• The Journal of the Petrological Society of Korea
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• v.15 no.3 s.45
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• pp.139-153
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• 2006

For the characteristics of rock material and standardization, flagstones of the trifurcated path in Jongmyo Royal Shrine, registered as World Cultural Heritage, were studied on the basis of petrographic, petrochemical and magnetic properties. The flagstones are composed mainly of pale gray fine to medium grained hornblende biotite granite, pale gray fine to medium grained biotite granite, pale pink medium to coarse grained biotite granite, pink medium to coarse grained biotite granite and minor pegmatite and schist. Flagstone represents the average size of $65cm{\times}4cm$ (standard deviation $12cm{\times}7cm$) and suitable (34.7%), common (41.4%) and unsuitable (23%) in roughness. It is interpreted that pale pink and pink granite, pegmatite, schist and other flagstones with unsuitable state are not original rock materials and were exchanged during restoration, in the past. The number of these non-original rock materials is about 560 flagstones. We suggests that the standard flagstone of the trifurcated path is pale gray fine to medium grained biotite granite (${\pm}$hornblende in trace), 70wt.% in $SiO_2$, content, and ${\pm}0.1{\times}10^{-3}\;SI$ in magnetic susceptibility.

• KOREAN JOURNAL OF PACKAGING SCIENCE & TECHNOLOGY
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• v.27 no.2
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• pp.63-70
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• 2021

As the government strengthens its policy of separating and discharging packaging materials, consumers are increasingly dissatisfied. In order to increase consumer participation in separate discharge policy of packaging materials, it is necessary to increase the willingness to participate by reducing potential consumer problems such as removal of packaging labels. This study conducted a survey of 300 consumers aged 14 and over who recycle and discharge directly from their homes. Ninety-nine percent of consumers said PET bottles are released separately. However, only 65% of consumers removed labels (attachment labels, shrink labels) and other materials (caps, vinyl coatings, tapes, handles, bases, etc.) during separate discharge process. Nearly 52% of consumers cited 'difficulty of separation' as the main reason for not removing labels and other materials. One-way ANOVA analysis showed that 'strong adhesion', 'removal initiation problem' and 'material strength' had high mean regardless of age, which are major factors impedes label removal. Using shrink labels with perforated lines rather than adhesive labels would be more beneficial to encouraging participation in separate discharge. However, if the shrink labels do not have perforated lines or are difficult to remove, adhesive labels are often easier to remove than shrink labels because of the strong cohesiveness of shrink labels. As a result, how easy it is for consumers to remove the label is more important than technological differences. In order to increase consumer participation in packaging material and label separations, improvements in structural design are needed along with the selection of materials that are easy to separate. This study is meaningful in examining consumer perceptions, deriving problems and suggesting directions for policy improvement.

• The Korean Journal of Archival Studies
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• no.17
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• pp.3-37
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• 2008

In this article, I outlined the archival management system in Early Joseon Dynasty and examined the characteristics of the system. At first, I explained the three aspects of the archival management; the memory of the past, the documentation of the contemporary, and the vision of the future through the documentation. Secondly, I tried to understand the character of the Veritable Record and its compilation by the concepts of archival science such as 'authenticity', 'reliability'. In the memory of the past, the History of a Dynasty(Koryo-Sa) and the Comprehensive History of Eastern Kingdom were included. The arrangement of the past was accompanied with the systematic study of the domestic and foreign histories. At the beginning of the state building, there was many practical need to the experiences of government and social re-construction. It was also the process of the legitimacy establishment of the new dynasty. And the Bureaucracy promoted the development of the records and archival management system because it needed the continuity and evidence of business. The dualistic structure of the records and archival management system was the most unique character of this age. The management of general administrative records was not different from the modern one. But the historical drafts and the compilation of Veritable record were different. Here, I had to examine the characteristics of these procedures by the concept authenticity, reliability, and custodianship. In doing so, I suggested the need of conceptualization of the historical terms such as 'the primary sources' and 'the secondary sources' in historical study. The archival concepts will be the most useful means to that issue. Through the memory of the past and the documentation of the contemporary, they made visions of the future, new vision of the Literati Governance. In this tradition, in spite of the revision of the Veritable records by the new changed political party, both the orignal and the revised remained as the comparative evidence for the future generation in the name of the Black-Red Revised History.

• Korean Journal of Heritage: History & Science
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• v.50 no.4
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• pp.122-147
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• 2017

The Jungsandong sites are distributed across quartz and mica schist formations in Precambrian, and weathering layers include large amounts of non-plastic minerals such as mica, quartz, felspar, amphibole, chlorite and so on, which form the ground of the site. Neolithic pottery from Jungsandong exhibits various brown colors, and black core is developed along the inner part for some samples, and sharp comb-pattern and hand pressure marks can be observed. Their non-plastic particles have various composition, size distribution, sorting and roundness, so they are classified into four types by their characteristic mineral compositions. I-type (feldspar pottery) is including feldspar as the pain component or mica and quartz. II-type (mica pottery) is the combination of chloritized mica, talc, tremolite and diopside. III-type (talc pottery) is with a very small amount of quartz and mica. IV-type (asbestos pottery) is containing tremolite and a very small amount of talc. The inner and outer colors of Jungsandong pottery are somewhat heterogeneous. I-type pottery group shows differences in red and yellow degree, depending on the content of feldspar, and is similar to III-type pottery. II-type is similar to IV-type, because its red degree is somewhat high. The soil of the site is higher in red and yellow degree than pottery from it. The magnetic susceptibility has very wide range of 0.088 to 7.360(${\times}10^{-3}$ SI unit), but is differentiated according to minerals, main components in each type. The ranges of bulk density and absorption ratio of pottery seem to be 1.6 to 1.7 and 13.1 to 26.0%, respectively. Each type of pottery shows distinct section difference, as porosity and absorption ratio increase in the order as follows: I-type (organic matter fixed sample) < III-type and IV-type < I-type < II-type (including IV-type of IJP-15). The reason is that differences in physical property occur according to kind and size of non-plastic particles. Although Jungsandong pottery consists of mixtures of various materials, the site pottery has a geological condition on which all mineral composition of Jungsandong pottery can be provided. There, it is thought that raw materials can be supplied from weathered zone of quartz and mica schist, around the site. However, different constituent minerals, size and rock fragments are shown, suggesting the possibility that there can be more raw material pits. Thus, it is estimated that there may be difference in clay and weathering degree.