• KDI Journal of Economic Policy
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• v.32 no.3
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• pp.1-32
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• 2010

The global financial crisis has exerted enormous impacts on the attainment of inflation target in Korea. The annual average CPI inflation was 3.3% during the targeting period of 2007-2009 and the target was $3.0{\pm}0.5%$. Thus Korea has succeeded in keeping annual average CPI inflation just below the upper limit of the 2007-2009 target under the global crisis. This paper intends to evaluate the performance of the inflation targeting system in Korea. First, it estimates the conventional call rate reaction equation under the global crisis and finds that the policy interest rates never reacted to expected inflation, output gap, and won/dollar exchange rate, as expected by theory. Second, it identifies the shock of global financial crisis into core and non-core, applying the structural VAR model. The core shock was defined to have no (medium- to) long-run impact on real output. The core shock was identified to have the character of the demand shock, since it has the positive impact on the inflation and output in the short run. The structural core inflation due to core shock was an attractor of headline inflation, not vice versa. Therefore, the structural core inflation that reflects the demand-side shock would be the better intermediate target for the final headline inflation target than the official core inflation that excludes the volatile inflation of agricultural and oil-related products. During the inflation targeting period of 2007-2009, the structural core inflation was more volatile than the official core inflation, because the global crisis has very large negative impacts on the domestic demand as well as the prices of agricultural and oil-related products. This paper shows that the negative core shock during the fourth quarter of 2008 was larger than that in the financial crisis in 1998. But the core shock turned into positive very quickly in 2009, as the Korean economy recovered very quickly from crisis. The volatile changes in structural core inflation suggests that the Bank of Korea barely managed to attain the 2007-2009 inflation target, owing to the very large negative impacts of the global financial crisis on the domestic demand. It also suggests that the rapid rise in core inflation with the rapid recovery of the Korean economy will lead to rapid rise in headline inflation.

• Journal of Korean Society of Forest Science
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• v.111 no.1
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• pp.186-200
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• 2022

The purpose of this study was to provide the basic data necessary for stakeholders to establish and promote policies related to the national forest trail. Awareness analysis was conducted on 800 visitors to the national forest trail, specifically to the Jirisan trail and Daegwallyeong forest trail, as well as 1,200 members of the public. Awareness of the national forest trail was low and at a similar level for both visitors and the general public; however, compared with the general public, the visitors had a higher need for the national forest trail system and were willing to visit and recommend the trail. The most common answers in response to the purpose of visit, reason for choosing the national trail, matters of interest, problems, necessary regulation, and role expectations were similar among the visitors and general public. Based on gender and age, there was a significant difference in the matters of interest and desired activity, but "scenery" was the most crucial factor. Therefore, after a comprehensive survey on the major view points, given that "scenery" was identified as an attractor, a system should be developed to identify and provide the information desired by visitors and the general public. These results are expected to be employed as basic data for stakeholders in decision making related to the national forest trail.

• Korean Journal of Environment and Ecology
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• v.36 no.4
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• pp.433-441
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• 2022

Light pollution is one of the factors that disturb coastal and island ecosystems. This study examined the factors causing light pollution in the islands in Daedohaehaesang National Park using nighttime satellite images. This study selected 101 islands with an area of 100,000 m² or more in Daedohaehaesang National Park, and measured the levels of light pollution of the selected islands by calculating mean nighttime radiance recorded in VIIRS DNB monthly images for January, April, August, and October 2019. Of seven districts of the park, The highest mean nighttime radiance was recorded in Geumodo district (17,666nW/m²/sr), followed by Geonumdo·Baekdo, Narodo, Soando·Cheongsando districts. By season, mean nighttime radiance in October was the highest at 9,509nW/m²/sr, followed by August, January, and April. Regression analyses show that the total floor area and the number of lighthouses in a 5 km buffer area had a statistically significant effect on mean nighttime radiance at all times, but those within the island did not, indicating that light pollution in islands in a national park where land development is strictly restricted is influenced by artificial lights in nearby areas. However, the total floor area of an island significantly affected mean nighttime radiance only in August, which appears to be attributed to the impact of intensive use of artificial light by visitors during summer vacation. The size of an island had a negative (-) effect on nighttime radiance. This negative effect suggests that light pollution is a type of ecological edge effect, i.e., the smaller island is more likely to have a relatively larger proportion of edge area that is affected by light emitted from the neighboring areas. The results of this study indicate that managing artificial lights in nearby areas is necessary to mitigate light pollution in islands in marine and coastal national parks.