• Journal of Korea Game Society
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• v.7 no.2
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• pp.41-52
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• 2007

Presently, the online game industry of Korea are growing up fastly. The growth of online game give rise to the new problem of regulation on Real Money Trade(RMT). This article analyzed the market failure of RMT, and showed whether or not the government regulate RMT. The results showed that the RMT has efficiency in monopoly and external economie, and inefficiency in external diseconomies and uncertainty. But, the inefficiency in external diseconomie and uncertainty is based on the regulation of RMT by the game company. So, it is necessary for government to deregulate the RMT for curing the inefficiency of RMT.

• Journal of Korean Society of Rural Planning
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• v.18 no.3
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• pp.25-41
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• 2012

The purpose of this study is to quantitatively analyze the social welfare value given to the designated rural settlement zone by the resident-participated site unit plan that the City of Cheongju is newly attempting to draft. Firstly, the costs and benefits from the site unit planning were estimated. Secondly, through literature review especially focussed on the benefit and cost estimation, on-site questionnaire was designed, and then sample residents of the qualifying sites were asked about their willingness to pay, which could make it possible to estimate the monetary value of its benefits by the contingent valuation method (CVM). Finally, the present value of net benefits (PVNB) was estimated through the derived costs and benefits. As a result of analysis, firstly, the present value of net benefits (PVNB) was found to be 7,641 billion won, which indicated that the implementation of district-unit plan would be able to cause sufficient social welfare value for the effected residents. Secondly, in examining the result of individual average amount for willingness to pay through the CVM, the area that benefited the most was found to be the road improvement. Thirdly, as a result of sensitivity analysis, the parameter with the most effects was the discount rate, which suggested that, in carrying out public projects, excessive market interest rates would not be appropriate.

• Korea Trade Review
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• v.41 no.2
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• pp.29-60
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• 2016

Research and Development(R&D) investment is an issue of central importance in any economy. In this paper we analyze the relationship between R&D spillovers and trade-related variables, using a two-stage model where duopolists simultaneously decide on R&D in the first stage and engage in Cournot competition in the second stage. We characterized and compared the free-trade and trade-restriction R&D equilibrium in a two-stage game of R&D investment followed by Cournot market competition. We also assessed the impact of varying the R&D spillover on the equilibrium outcomes and tariff. We showed for both free trade and protection cases that there exists a unique symmetric solution(subgame perfect Nash equilibrium). As the solution, while analytical, cannot be stated in closed form, we resorted to numerical experiments to investigate the equilibrium results. Our estimates indicate for both free trade and protection cases that the level of R&D investment and the rate of R&D expenditure decrease as the degree of R&D spillovers increases, and that there is an inverse relation between the degree of R&D spillovers and level of protection. The latter implies that the larger the degree of R&D spillovers, the lesser the level of protection.

• Journal of Korean Society for Quality Management
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• v.51 no.2
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• pp.171-184
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• 2023

Purpose: First, this paper suggests an alternative approach to find optimal portfolio (stocks, bonds and ESG stocks) under the maximizing utility of investors. Second, we include ESG stocks in our optimal portfolio, and compare improvement of welfares in the case with and without ESG stocks in portfolio. Methods: Our main method of analysis follows Brennan et al(2002), designed under the continuous time framework. We assume that the dynamics of stock price follow the Geometric Brownian Motion (GBM) while the short rate have the Vasicek model. For the utility function of investors, we use the Power Utility Function, which commonly used in financial studies. The optimal portfolio and welfares are derived in the partial equilibrium. The parameters are estimated by using Kalman filter and ordinary least square method. Results: During the overall analysis period, the portfolio including ESG, did not show clear welfare improvement. In 2017, it has slightly exceeded this benchmark 1, showing the possibility of improvement, but the ESG stocks we selected have not strongly shown statistically significant welfare improvement results. This paper showed that the factors affecting optimal asset allocation and welfare improvement were different each other. We also found that the proportion of optimal asset allocation was affected by factors such as asset return, volatility, and inverse correlation between stocks and bonds, similar to traditional financial theory. Conclusion: The portfolio with ESG investment did not show significant results in welfare improvement is due to that 1) the KRX ESG Leaders 150 selected in our study is an index based on ESG integrated scores, which are designed to affect stability rather than profitability. And 2) Korea has a short history of ESG investment. During the limited analysis period, the performance of stock-related assets was inferior to bond assets at the time of the interest rate drop.

• KDI Journal of Economic Policy
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• v.12 no.3
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• pp.153-172
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• 1990

The present paper investigates the potential value of strategic antitrust policy in an oligopolistic international market. The market is characterized by a non-cooperative Cournot-Nash equilibrium and by asymmetry in costs among firms in the world market. The model is useful for two reasons. First, it is important in the context of policy-making to examine the conditions under which it may be beneficial to relax antitrust law to enhance competitiveness. Second, the explicit derivation of the level of cost-saving required for a gain in total domestic surplus provides an empirical rule for excluding industries that do not satisfy the requirements for a socially beneficial antitrust exemption. Results of the analysis include a criterion that tells how the cost-saving and concentration effects of a merger offset each other. The criterion is derived from fairly general assumptions on demand functions and is simple enough to be applied as a part of the merger guidelines. Another interesting policy implication of our analysis is that promoting mergers would not be a beneficial strategy in a net importing industry where cost-saving opportunities are thin. Cost-saving domestic mergers are more likely to increase national welfare in exporting industries. The best candidate industries for application of strategic antitrust policy are those with the following characteristics: (i) a large potential for efficiency enhancement; (ii) high market concentration at the world but not the domestic level; (iii) a high ratio of exports to imports. Recently, many policymakers and economists in Korea have also come to believe that the appropriate antitrust policy in an era of increased foreign competition may actually be to encourage rather than to prohibit domestic mergers. The Industry Development Act of 1986 and the proposed bill for Mergers and Conversions in the Financial Industry of 1990 reflect this changing perspective on antitrust policy. Antitrust laws may burden domestic firms in the sense that they have a more constrained strategy set. Expenditures to avoid antitrust attacks could also increase costs for domestic firms. But there is no clear evidence that the impact of antitrust policy is significant enough to harm the competitiveness of domestic firms. As a matter of fact, it is necessary for domestic financial institutions to become large in scale in this era of globalization. However, the absence of empirical evidence for efficiency enhancement from mergers suggests caution in the relaxation of antitrust standards.

• Tuberculosis and Respiratory Diseases
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• v.65 no.6
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• pp.495-503
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• 2008

Background: Epigenetic alterations in certain genes are now known as at least important as genetic mutation in pathogenesis of cancer. Especially abnormal hypermethylation in or near promoter region of tumor suppressor genes (TSGs) are known to result in gene silencing and loss of gene function eventually. The authors tried to search for new lung cancer-specific TSGs which have CpG islands and HpaII sites, and are thought to be involved in carcinogenesis by epigenetic mechanism. Methods: Tumor tissue and corresponding adjacent normal tissue were obtained from 10 patients who diagnosed with non small cell lung cancer (NSCLC) and underwent surgery in Konyang university hospital in 2005. Methylation profiles of promoter region of 21 genes in tumor tissue & non-tumor tissue were examined with HpaII-MspI methylation microarray (Methyl-Scan DNA chip$^{(R)}$, Genomic tree, Inc, South Korea). The rates of hypermethylation were compared in tumor and non-tumor group, and as a normal control, we obtained lung tissue from two young patients with pneumothorax during bullectomies, methylation profiles were examined in the same way. Results: Among the 21 genes, 10 genes were commonly methylated in tumor, non-tumor, and control group. The 6 genes of APC, AR, RAR-b, HTR1B, EPHA3, and CFTR, among the rest of 11 genes were not methylated in control, and more frequently hypermethylated in tumor tissue than non-tumor tissue. Conclusion: In the present study, HTR1B, EPHA3, and CFTR are suggested as possible novel TSGs of NSCLC by epigenetic mechanism.

• Journal of Digital Convergence
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• v.10 no.9
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• pp.225-238
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• 2012

This research measured the current working conditions and workers' awareness of their working conditions in both information technology industry and non-information technology industry. Furthermore, the research analyzed the characteristics of pertaining industries and age, sex, and job status of the workers to diagnose the current status of the working conditions and awareness of domestic workers in information technology industry in Korea. The purpose of this research is to provide the necessary data to establish the policy that guides ramifications to the current problems to restore the fame that Korea earned as one of the top information technology countries, and that requires a thorough paired comparison analysis between the information technology industries. The paired comparison analysis indicated that the information technology industries generally have had much worse working conditions than non-information technology industries. This research also verified that information technology industries have scored low on the satisfaction to the average working hours, employee welfare, social perception by other industries, the degree of anxiety, and the growth potential compared to the non information technology industries. Data collected during this research is meaningful in a sense that it provides basic yet crucial information that encourages the policies that are in favor of information technology employees to be adopted. The fact that there is a tacit skepticism in improvement of working conditions among the information technology workers supports the adoption of better policies that will improve not only working conditions but also find the solutions to eliminate the sources of insecurity of the retirement in information technology industry.

• Korean Journal of Poultry Science
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• v.41 no.3
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• pp.217-225
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• 2014

Telomeres are the ends of the eukaryotic chromosomes and consist of a tandem repetitive DNA sequence and shelterin protein complex. The function of telomere is to protect chromosome. Telomere length in somatic cells tends to decrease with organismal age due to the end replication problem. However, several factors at the genetic, epigenetic and environmental level affect telomere length. In this study, we estimated heritability of telomere length and investigated inheritance of telomeres in a chicken. Telomere length of lymphocytes was analyzed by semi-quantitative polymerase chain reaction using telomere primer and quantitative fluorescence in situ hybridization using telomeric DNA probe. In results, heritability of telomere length was estimated 0.9 at birth by offspring-parent regression analysis and was estimated 0.03 and 0.04 at 10 and 30 weeks old, respectively, by parental variance analysis. There was a significant positive correlation in telomere length between father and their offspring (r=0.348), and mother and their offspring (r=0.380). In inheritance patterns of telomere length, the influence of paternal and maternal effect on their offspring was similar. The influence of inherited telomeres on male and female progeny was also roughly alike. These results implicated that imprinting of parental telomere length was regulated by autosomal genes, not sex linked genes. In addition, telomere length of offspring at birth did not differ along with their maternal age. Thus, maternal age does not affects telomere length in their offspring at birth owing to cellular reprogramming at early embryonic stage.

• Environmental and Resource Economics Review
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• v.17 no.3
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• pp.135-166
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• 2008

This paper reports the empirical results of comparing the willingness to pay(WTP) for health risk reductions and the willingness to accept(WTA) for risk increases using experimental market methods in the first time in Korea. Health risks were defined as probabilities of premature death from exposure to one of As, Pb, and THM in tap water. A total of six experimental markets with 15 participants in each experiments were held using 20 repetitive Vickrey second-price sealed-bid auctions. To compare the effects of market experiences, trading a marketed good, candy bar, was introduced before the trading the non-marketed good, drinking water risks. Moreover, an objective risk information was provided after the first 10 trials to incorporate learning processes. Regardless of marketed or non-marketed goods, the mean of WTA exceeded the mean of WTP at the first auction trial. As experimental trials proceeded, the disparity between WTA and WTP for marketed goods disappeared. However results for non-marketed goods were rather mixed to the extent that WTA for health risks from As (relatively high risk leves) were significantly larger than WTP, while there were no significant difference between WTA and WTP for health risks fro Pb and THM (relatively low risk levels). On the other hand, participants seemed to respond in a 'rational' manner to the objective risk information provided, with positive learning effects of market-like experience(especially in the WTA experiments).

• The Journal of the Korea Contents Association
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• v.9 no.5
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• pp.156-165
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• 2009

This research is for dental hygienists to pursue affection and commitment in organization together with improvement of quality of working life by analyzing factors of working life affecting affective commitment in organization of dental hygienists, to find out plans to increase sense of accomplishments of working life and ultimate satisfaction of life, and to suggest direction for human resources management in management of dental clinics. Objects of investigation were dental hygienists working at dental medical institutions in Busan area with questionnaire survey and 197 sheets of questionnaires were used in the study. As the result of the study, high correlation was shown between composition elements of quality of working life and affective commitment per factor and as the result of quality factors of working life affecting affective commitment in organization, work environment, inter-personal relations, and social meaningfulness provided meaningful impacts on affective commitment in organization. It is believed to be important that dental medical institutions need to promote pride and love of companies in the future by providing regular social services or services for local residents so that employees can form smooth inter-personal relationships among employees with improvement of working environment and welfare in personnel management dimension. And for dental hygienists, they shall improve their work performances and enhance vocational values for development of their institutions and them with positive thinking through ceaseless efforts.