• Title/Summary/Keyword: 1970s-1990s

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Structure of Export Competition between Asian NIEs and Japan in the U.S. Import Market and Exchange Rate Effects (한국(韓國)의 아시아신흥공업국(新興工業國) 및 일본(日本)과의 대미수출경쟁(對美輸出競爭) : 환율효과(換率效果)를 중심(中心)으로)

  • Jwa, Sung-hee
    • KDI Journal of Economic Policy
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    • v.12 no.2
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    • pp.3-49
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    • 1990
  • This paper analyzes U.S. demand for imports from Asian NIEs and Japan, utilizing the Almost Ideal Demand System (AIDS) developed by Deaton and Muellbauer, with an emphasis on the effect of changes in the exchange rate. The empirical model assumes a two-stage budgeting process in which the first stage represents the allocation of total U.S. demand among three groups: the Asian NIEs and Japan, six Western developed countries, and the U.S. domestic non-tradables and import competing sector. The second stage represents the allocation of total U.S. imports from the Asian NIEs and Japan among them, by country. According to the AIDS model, the share equation for the Asia NIEs and Japan in U.S. nominal GNP is estimated as a single equation for the first stage. The share equations for those five countries in total U.S. imports are estimated as a system with the general demand restrictions of homogeneity, symmetry and adding-up, together with polynomially distributed lag restrictions. The negativity condition is also satisfied for all cases. The overall results of these complicated estimations, using quarterly data from the first quarter of 1972 to the fourth quarter of 1989, are quite promising in terms of the significance of individual estimators and other statistics. The conclusions drawn from the estimation results and the derived demand elasticities can be summarized as follows: First, the exports of each Asian NIE to the U.S. are competitive with (substitutes for) Japan's exports, while complementary to the exports of fellow NIEs, with the exception of the competitive relation between Hong Kong and Singapore. Second, the exports of each Asian NIE and of Japan to the U.S. are competitive with those of Western developed countries' to the U.S, while they are complementary to the U.S.' non-tradables and import-competing sector. Third, as far as both the first and second stages of budgeting are coneidered, the imports from each Asian NIE and Japan are luxuries in total U.S. consumption. However, when only the second budgeting stage is considered, the imports from Japan and Singapore are luxuries in U.S. imports from the NIEs and Japan, while those of Korea, Taiwan and Hong Kong are necessities. Fourth, the above results may be evidenced more concretely in their implied exchange rate effects. It appears that, in general, a change in the yen-dollar exchange rate will have at least as great an impact, on an NIE's share and volume of exports to the U.S. though in the opposite direction, as a change in the exchange rate of the NIE's own currency $vis-{\grave{a}}-vis$ the dollar. Asian NIEs, therefore, should counteract yen-dollar movements in order to stabilize their exports to the U.S.. More specifically, Korea should depreciate the value of the won relative to the dollar by approximately the same proportion as the depreciation rate of the yen $vis-{\grave{a}}-vis$ the dollar, in order to maintain the volume of Korean exports to the U.S.. In the worst case scenario, Korea should devalue the won by three times the maguitude of the yen's depreciation rate, in order to keep market share in the aforementioned five countries' total exports to the U.S.. Finally, this study provides additional information which may support empirical findings on the competitive relations among the Asian NIEs and Japan. The correlation matrices among the strutures of those five countries' exports to the U.S.. during the 1970s and 1980s were estimated, with the export structure constructed as the shares of each of the 29 industrial sectors' exports as defined by the 3 digit KSIC in total exports to the U.S. from each individual country. In general, the correlation between each of the four Asian NIEs and Japan, and that between Hong Kong and Singapore, are all far below .5, while the ones among the Asian NIEs themselves (except for the one between Hong Kong and Singapore) all greatly exceed .5. If there exists a tendency on the part of the U.S. to import goods in each specific sector from different countries in a relatively constant proportion, the export structures of those countries will probably exhibit a high correlation. To take this hypothesis to the extreme, if the U.S. maintained an absolutely fixed ratio between its imports from any two countries for each of the 29 sectors, the correlation between the export structures of these two countries would be perfect. Therefore, since any two goods purchased in a fixed proportion could be classified as close complements, a high correlation between export structures will imply a complementary relationship between them. Conversely, low correlation would imply a competitive relationship. According to this interpretation, the pattern formed by the correlation coefficients among the five countries' export structures to the U.S. are consistent with the empirical findings of the regression analysis.

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Sources of Long-term Industrial Growth and Structural Change in Korea, 1955-85 (장기적(長期的) 산업성장(産業成長) 및 구조변화요인(構造變化要因)의 분석(分析) (1955~85))

  • Kim, Kwang-suk;Hong, Sung-duk
    • KDI Journal of Economic Policy
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    • v.12 no.1
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    • pp.3-29
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    • 1990
  • Korean input-output tables for 1975 and 1985 are first deflated into 1975 constant domestic prices(hypothetical terms), and the constant price I-O data are used to decompose the sources of industrial growth and structural change during the 1975-85 period. Using the same methodology, our results for the 1975-85 period are then linked to the results for the earlier period(1955-75) in order to analyze and evaluate the "demand-side" sources of industrialization over the past three decades. The results from the decomposition of the whole economy indicate that over three decades(1955-85) the relative contribution of domestic demand expansion (DDE) to growth and structural change has continuously declined while the contribution of export expansion(EE) has generally continued to rise. The contribution of import-substitution(IS) which had been significantly higher than that of EE during 1955-63 declined substantially, remaining at an insignificantly low level during the period following 1963. Although it is well known that the government's industrial policy in the 1970s emphasized import-substitution in heavy and chemical industries, no significant changes in the export-oriented growth pattern could be observed even for that period, except for a minor decline in the relative contribution of EE. This may be attributed to the substantially larger, backward-linkage effects of EE than that of IS. The sources-of-growth decompositions for major branches of the manufacturing sector generally support the major conclusions derived from the decomposition for the whole economy. The IS contribution which had been significantly high in almost all manufacturing branches during the 1955-63 period declined to low levels in all but two branches, heavy industry and machinery, during the following period. On the other hand, the relative contribution of EE showed a continuous rise in almost all manufacturing branches(except food processing). Finally, the sources of growth for 1975-85 which were decomposed by detailed sub branches, are analyzed by correlating them with changes in relative prices and industrial protection rates by sub-branches for the same period. A major result is that contrary to general expectations, the EE contributions by sub-branch are not negatively correlated with the nominal rates of protection and/or the effective rates of protection for the same sub-branches. It is also found that no statistically significant, positive correlation exists between IS contributions and nominal protection rates or effective protection rates. These unexpected results may be explained by the peculiar nature of the Korean system of industrial incentives for the past period.

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The Analysis of Exercise Therapy in Nursing Research (운동중재에 관한 국내 간호학 논문 분석)

  • 전점이
    • Journal of Korean Academy of Nursing
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    • v.30 no.2
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    • pp.319-330
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    • 2000
  • This study is aimed at analyzing the trend of research on the use of exercise in nursing research, through suggesting directions for future research and implementation of the various exercise therapies. Research studies were taken from dissertations and theses selected from the Academic Society Journals of nursing science, Journals from universities, medical and nursing schools, research institutes in various universities, the Central Journal of Medicine, and the New Medical Journal. The research published between 1970 and 1997 in Korea were analyzed, 51 research were selected. The research are analyzed according to: published time, source of the research, research design, subjects, sample size, dependant variables, exercise therapy, and effect of exercise therapy. The results were as follows: 1. Research on exercise therapy increased rapidly in the 1990's. At this time, 88.2% of research was published. 2. Research areas included: 54.9% non- degree research, 27.5% Doctoral theses, and 17.6% Master's theses. 3. The experimental design included: 66.7% non- equivalent control group pre-test/ post-test design and 29.4% one group pre-test/post- test design. 4. Out of the Subjects: 52.9% were patients with various health problems, and 47.1% were healthy individuals. 5. Sample size included: 52.9% with above 31 subjects, 11.8% with 11~15 and 26~30. 6. Exercise therapy was analyzed by type, intensity, frequency, duration, and period. 1) The Types: Aerobic exercise at 60.8% was the most common, active exercise for muscle strengthening and building made up 21.6%. 2) Exercise with 40~65% intensity comprised 25.5%, 70~85% with 7.8%, and no description of the intensity was 66.7%. 3) Frequency of 3~5 per week was the most common at 78.4%. 4) Duration: 15~60 minutes was the most common length of time at 76.5%. 5) Periods: More than 5 weeks at 82.3% were the most common in their categories. 7. Dependant variables: Psychological response was measured as a dependant variable in 92.2%, Cardio-pulmonary function 88.2%, Body Composition was 86.3%, Physical Response was 60.8%, Lipid Metabolism was 58.8%, Physical Strength was 49.0%, Glucose Metabolism was 25.5%, Activities of Daily Living was 17.6% and others added to be 3.9%. 8. The effect of Exercise Therapy was categorized into 'positive', 'partially positive', and 'no effect' according to dependant variables: Having a positive effect - Glucose Metabolism (93.3%), Physical Response (85.0%), Activities of Daily Living (81.8%), Psychological Response (71.6%), Lipid Metabolism (67.6%), Cardio- pulmonary Function (63.6%), Physical Strength (68.1%), and Body Composition (56.4%). The following suggestions can be made on the above findings: 1. Research findings on Exercise Therapy as a Nursing Intervention need to be described by their elements of type, intensity, frequency, duration and period. 2. Toproperly study the positive effects of Exercise Therapy, there needs to be ⑴ appropriate research design, ⑵ selection criteria for the subjects ⑶ contents of exercise prescription to individuals or groups ⑷ measurement criterion for the dependent variables. 3. Meta-analysis on exercise therapy also needs to be done to analyze and integrate the various results.

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Road Safety Strategy Corresponding to Development: The Need for Participation of Medical Professionals (발전에 상응하는 교통안전 전략: 의료인의 참여 필요성)

  • Lee, Sang-Wan
    • Journal of Korean Society of Transportation
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    • v.25 no.4
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    • pp.43-56
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    • 2007
  • Since the 1970s, along with an increasing number of motor vehicles in Korea, road crashes and casualties started to increase and eventually resulted in a serious public health problem starting from the beginning of the 1990s. Government authorities, however, have been not so proactive with reducing road crashes and injuries as well as deaths and have been reluctant to design effective safety strategies that could be established in collaboration with relevant multidisciplinary professionals. This paper aims at showing the status of road safety versus socioeconomic development in Korea and highlighting safety strategies that particularly need the participation of medical professionals. Six indicators to measure socioeconomic development and two indices for road safety were examined and international comparisons were made, finding road safety in Korea has been not corresponding to its level of development. The imbalance between socioeconomic development and road safety will certainly require the government authorities to look for effective safety strategies necessitating cooperation and collaboration with relevant experts including medical professionals. To make a provision for such needs in the near future, studies and experiences previously reported in the literature of traffic medicine and the world congresses of the International Traffic Medicine Association since 1984 were reviewed and categorized to focus on the strategies as well as measures that would be most effective in a mid-income country such as Korea.

A Case of Expulsion of an Adult Ascaris Worm from the Anus of a 2-year-old Boy (2세 남아에서 충체 배출로 발견된 회충증 1예)

  • Cho, Yeonjong;Choi, Sik Kyung;Kim, Su Jung
    • Pediatric Infection and Vaccine
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    • v.27 no.1
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    • pp.77-82
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    • 2020
  • Ascariasis is the most common helminthic infection in humans. However, its prevalence has been very low in Korea since the 1990s. Recently, there have been several case reports on intestinal obstruction or pancreaticobiliary disease due to infection with Ascaris lumbricoides in adults. However, cases of ascariasis in children have rarely been reported in Korea. We report a case of ascariasis in a 2-year-old boy who experienced expulsion of an adult ascaris worm from his anus. His mother found the worm in his diaper in the morning. His medical history was nonsignificant for any previous illnesses. There were no specific symptoms, and no abnormal findings were found on physical examination. The worm was pink, elongated, and cylindrical; it was 25 cm long and 5 mm wide. Unfertilized eggs of A. lumbricoides were detected in his stool specimen. He was treated with albendazole and remained asymptomatic at follow-up. As long as the number of immigrants from endemic areas and people returning from overseas trips, and import of agricultural products keep increasing, ascariasis can still occur in Korea. Therefore, it is necessary to raise awareness regarding ascariasis.

Industrial restructuring and uneven regional development in the 1980s (산업구조조정과 지역불균등발전 : 1980년대)

  • ;Choi, Byung-Doo
    • Journal of the Korean Geographical Society
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    • v.29 no.2
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    • pp.137-165
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    • 1994
  • Structural adjustment of industry (or industrial restructuring) seems to be inherent in the process of capitalist economic development, which tends to be proceeded with shifts from one stage to another in order to overcome structural crises generated in each stage. The structural adjustment of industry is necessarily accompanied with regional restructuring, since it is not only projected on spece, but also mediated by space. Such a restructuring necessitates industrial and uneven regional devlopment through which capital can seek excessive profits over the rate of socio-spatial average. The industrial restructuring and uneven regional development in the 1980s in Korea can be seen as a process in which capital attempted with a strong support of the govenment to overcome the crises in the end of 1970s and hence to go on rapid economic growth. In this process, capital, especially monopoly capital concentrated into few conglomerates, pursued both extensive expansion and intensive development of industry simultaneously. In results, the Korean economy could eliminate some of peripheral characters and maturate the Fordist accumulation system. The extensive expansion of the Korean industry in the 1980s was stimulated mainly through the enlargement and adjustment of investment for equipment facilities which was planned to exclude or rationalize traditional light industries on some places, and to continue rapid growth of key heavy-chemical industries, especially of fabricated metal industry, on other places. In this process, keeping mainly the existing developmental axis which polarized the Seoul Metroplitan region and the Southeast region in Korea, the enhancing spatial mobiiity of capital and the further differentiating division of labour enforced a tendency of concentration of all types of industry in the Seoul Metropolitan region, and at the same time provoked the diffusion of some industries over Jeolla and Chungchong regions in a considerable extent. The intensive development of industriai structure in the 1980s was pursued through the strategic encouragement of subcontracting small firms mainly which produced assembling components, the technical enhancement and factory (semi-) automation, and the enrichment of service industries for estate management, finance, distribution and retailing which supported and complemented the production of goods. In this process, enabling capital to extend and elaborate its domination over space through the reorganization of regulating systems, the Fordist division of labour generated a socio-spatial hierarchy in the nation-wide scale that characterized: the Seoul Metropolitan region as an overmaturated (or overarching) Fordist region performing the conceptive functions of management, research and development, in which all types of industry (including service industries) tended to be reconcentrated; Kyungsang region as a maturated Fordist region with excutive branches of large conglomerates and with subcontracting firms around them which produced standardized products through the automized production processes in secialized Fordist industries or rationalized traditional industries; and Jeolla and Chungchong regions as newly devloping Fordist regions with newly migrated branches and some subcontracting small firms-in relatively older Fordist industries or partly rationalized traditional industries. From these analyses, it can be argued that the structural adjustment of the Korean industry in the 1980s, which had carried out both through the extensive expansion and the intensive deveiopment, strengthened further uneven regional development process, even though it appears to have reduced apparently the economic and regional disparity by balancing numerically large and small firms and by extending the Fordist industrial space nation-wideiy. And it seems more persuasive to see that the Korean industrial structure in the 1980s maturated the Fordist system of accumulation, but not yet transformed towards the post-Fordist (or the so-called flexible) accumulation system, even though the Korean economy in the 1990s seems to be under a pressure of restructuring towards the latter system.

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Research on the division of location types of domestic golf courses (국내 골프장의 입지적 유형분류에 관한 연구)

  • Kim, Min-Jung;Geong, Keun-Han
    • Asian Journal of Turfgrass Science
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    • v.23 no.1
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    • pp.151-162
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    • 2009
  • When viewing that since the 1990s local governments have tried to build golf courses as a plan to revitalize the attraction of home and abroad tourists and to increase their tax incomes and that big companies are interested in leisure business including golf courses as a future promising business in the 21st century, golf courses seem to continuously increase in the future. On the contrary, noticing that golf courses are not only the main culprit behind the damage of natural environment and environmental pollution but also a target of real estate speculation and that golf makes a sense of incongruity between the classes of a society as a luxury sports, environment activists and local residents raise criticism to golf. Golf in our country shows a special sports phenomenon of which the pros and cons appear continuously. So, it is judged that policy for golf development direction should be set up based on verified scientific data. Thus, the research aims at deriving the location types of golf courses by looking at laws from the period of formation of the initial domestic golf courses to the recent period, grasping their distribution status according to time series and regions, conducting a questionnaire survey regarding location factors for golfers and the workers of golf courses, and dividing golf courses into several types. It is expected that the research will be a fundamental material when a golf course is built later on, contributing to the research of golf courses.

A Review of Recent Climate Trends and Causes over the Korean Peninsula (한반도 기후변화의 추세와 원인 고찰)

  • An, Soon-Il;Ha, Kyung-Ja;Seo, Kyong-Hwan;Yeh, Sang-Wook;Min, Seung-Ki;Ho, Chang-Hoi
    • Journal of Climate Change Research
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    • v.2 no.4
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    • pp.237-251
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    • 2011
  • This study presents a review on the recent climate change over the Korean peninsula, which has experienced a significant change due to the human-induced global warming more strongly than other regions. The recent measurement of carbon dioxide concentrations over the Korean peninsula shows a faster rise than the global average, and the increasing trend in surface temperature over this region is much larger than the global mean trend. Recent observational studies reporting the weakened cold extremes and intensified warm extremes over the region support consistently the increase of mean temperature. Surface vegetation greenness in spring has also progressed relatively more quickly. Summer precipitation over the Korean peninsula has increased by about 15% since 1990 compared to the previous period. This was mainly due to an increase in August. On the other hand, a slight decrease in the precipitation (about 5%) during Changma period (rainy season of the East Asian summer monsoon), was observed. The heavy rainfall amounts exhibit an increasing trend particularly since the late 1970s, and a consecutive dry-day has also increased primarily over the southern area. This indicates that the duration of precipitation events has shortened, while their intensity became stronger. During the past decades, there have been more stronger typhoons affecting the Korean peninsula with landing more preferentially over the southeastern area. Meanwhile, the urbanization effect is likely to contribute to the rapid warming, explaining about 28% of total temperature increase during the past 55 years. The impact of El Nino on seasonal climate over the Korean peninsula has been well established - winter [summer] temperatures was generally higher [lower] than normal, and summer rainfall tends to increase during El-Nino years. It is suggested that more frequent occurrence of the 'central-Pacific El-Nino' during recent decades may have induced warmer summer and fall over the Korean peninsula. In short, detection and attribution studies provided fundamental information that needed to construct more reliable projections of future climate changes, and therefore more comprehensive researches are required for better understanding of past climate variations.

Antecedents of Manufacturer's Private Label Program Engagement : A Focus on Strategic Market Management Perspective (제조업체 Private Labels 도입의 선행요인 : 전략적 시장관리 관점을 중심으로)

  • Lim, Chae-Un;Yi, Ho-Taek
    • Journal of Distribution Research
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    • v.17 no.1
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    • pp.65-86
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    • 2012
  • The $20^{th}$ century was the era of manufacturer brands which built higher brand equity for consumers. Consumers moved from generic products of inconsistent quality produced by local factories in the $19^{th}$ century to branded products from global manufacturers and manufacturer brands reached consumers through distributors and retailers. Retailers were relatively small compared to their largest suppliers. However, sometime in the 1970s, things began to slowly change as retailers started to develop their own national chains and began international expansion, and consolidation of the retail industry from mom-and-pop stores to global players was well under way (Kumar and Steenkamp 2007, p.2) In South Korea, since the middle of the 1990s, the bulking up of retailers that started then has changed the balance of power between manufacturers and retailers. Retailer private labels, generally referred to as own labels, store brands, distributors own private-label, home brand or own label brand have also been performing strongly in every single local market (Bushman 1993; De Wulf et al. 2005). Private labels now account for one out of every five items sold every day in U.S. supermarkets, drug chains, and mass merchandisers (Kumar and Steenkamp 2007), and the market share in Western Europe is even larger (Euromonitor 2007). In the UK, grocery market share of private labels grew from 39% of sales in 2008 to 41% in 2010 (Marian 2010). Planet Retail (2007, p.1) recently concluded that "[PLs] are set for accelerated growth, with the majority of the world's leading grocers increasing their own label penetration." Private labels have gained wide attention both in the academic literature and popular business press and there is a glowing academic research to the perspective of manufacturers and retailers. Empirical research on private labels has mainly studies the factors explaining private labels market shares across product categories and/or retail chains (Dahr and Hoch 1997; Hoch and Banerji, 1993), factors influencing the private labels proneness of consumers (Baltas and Doyle 1998; Burton et al. 1998; Richardson et al. 1996) and factors how to react brand manufacturers towards PLs (Dunne and Narasimhan 1999; Hoch 1996; Quelch and Harding 1996; Verhoef et al. 2000). Nevertheless, empirical research on factors influencing the production in terms of a manufacturer-retailer is rather anecdotal than theory-based. The objective of this paper is to bridge the gap in these two types of research and explore the factors which influence on manufacturer's private label production based on two competing theories: S-C-P (Structure - Conduct - Performance) paradigm and resource-based theory. In order to do so, the authors used in-depth interview with marketing managers, reviewed retail press and research and presents the conceptual framework that integrates the major determinants of private labels production. From a manufacturer's perspective, supplying private labels often starts on a strategic basis. When a manufacturer engages in private labels, the manufacturer does not have to spend on advertising, retailer promotions or maintain a dedicated sales force. Moreover, if a manufacturer has weak marketing capabilities, the manufacturer can make use of retailer's marketing capability to produce private labels and lessen its marketing cost and increases its profit margin. Figure 1. is the theoretical framework based on a strategic market management perspective, integrated concept of both S-C-P paradigm and resource-based theory. The model includes one mediate variable, marketing capabilities, and the other moderate variable, competitive intensity. Manufacturer's national brand reputation, firm's marketing investment, and product portfolio, which are hypothesized to positively affected manufacturer's marketing capabilities. Then, marketing capabilities has negatively effected on private label production. Moderating effects of competitive intensity are hypothesized on the relationship between marketing capabilities and private label production. To verify the proposed research model and hypotheses, data were collected from 192 manufacturers (212 responses) who are producing private labels in South Korea. Cronbach's alpha test, explanatory / comfirmatory factor analysis, and correlation analysis were employed to validate hypotheses. The following results were drawing using structural equation modeling and all hypotheses are supported. Findings indicate that manufacturer's private label production is strongly related to its marketing capabilities. Consumer marketing capabilities, in turn, is directly connected with the 3 strategic factors (e.g., marketing investment, manufacturer's national brand reputation, and product portfolio). It is moderated by competitive intensity between marketing capabilities and private label production. In conclusion, this research may be the first study to investigate the reasons manufacturers engage in private labels based on two competing theoretic views, S-C-P paradigm and resource-based theory. The private label phenomenon has received growing attention by marketing scholars. In many industries, private labels represent formidable competition to manufacturer brands and manufacturers have a dilemma with selling to as well as competing with their retailers. The current study suggests key factors when manufacturers consider engaging in private label production.

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Empirical Analysis of University Patenting in Korea (특허자료를 이용한 우리나라 대학 연구의 특성 분석)

  • Suh, Joonghae
    • KDI Journal of Economic Policy
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    • v.32 no.4
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    • pp.115-151
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    • 2010
  • Recently Korean universities show very rapid increases in both patents and R&D (research and development) expenditures. During the period from 1970 to 2008, university R&D spending has on the average increased 15.3% annually. Along with steady increases in R&D spending, university's research outputs have also continuously increased. In 1990 Korea as a total published 1,613 SCI-level scientific papers and Korean universities applied 27 patents to Korea patent office. In 2008, Korea published more that 35,000 SCI papers and Korean universities applied about 7,300 patents. The growth of scientific articles had begun from the early 1990s whereas the growth of patent has ignited entering the 2000s. The paper tried to investigate university research through the window of patent. Patents lie between invention and innovation and represent the potential value of invention which will be realized at the marketplace. Since Korean patents do not contain citation information, the paper used US patents-NBER patent database-as the main data. The key empirical question is whether Korean university patents granted from USPTO are characteristically different from other Korean patents granted from USPTO. Previous studies on US and Europe show that corporate patents are more stylized in appropriablity of invention, whereas university patents basicness. In case of Korea, the paper confirmed the appropriability characteristic of corporate patents; but the Korean unversity patents are not distinguishable in terms of basicness. The paper estimated the citation frequency function-an empirical model which was firstly developed by Caballero and Jaffe (1993) and later articulated by Jaffe and Trajtenberg (1996, 2002). The model is specified mainly composed of two interacting parts-diffusion effect and obsolescence effect of new ideas or innovations. Estimation results show that differences in forward citations between university and corporate patents are not statistically significant, after controlling self-citation. Since forward citations represent the quality of patents, this estimation result implies that there are no statistically significant quality differences between university and corporate patents. Prior research results, based on the same model of citation frequency function, about US and some European cases show that, in terms of forward citations, university patents are generally superior to corporate patents -for the case of US- or, the former not inferior to the latter-for the case of most of Europe. It is argued that some important and significant policy changes caused the rapid rise of university patents in Korea. Policy changes include the revision of technology transfer act allowing the ownership of publicly-funded research results to researchers and the changes in faculty/professor evaluation which gives more credit to the number of patents. These policy changes have triggered the rapid growth of the number of university patents. The results of the empirical analysis in this paper indicated that Korea now needs to make further efforts to enhance the quality of university patents, not just to produce more numbers of patents.

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