• Journal of Digital Convergence
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• v.11 no.12
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• pp.61-67
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• 2013

The B2B e-commerce assurance system supports e-commerce purchases by Credit Guarantee Fund. This process seeks to replace a variety of current systems, including B2C, the credit card payment method on B2B, 2001 Credit Guarantee Fund and the Bank, logistics, e-MP (Market Place), and Business-to-business e-MP (business-to-business electronic payment settlement system). Over the past 10 years of its operation, the e-MP service (B2B e-commerce electronic payment systems) has contributed much to the growth of SMEs. The development of business-to-business e-commerce transactions systems and limits have provided a stable purchasing platform, improving corporate competitiveness. However. the project-based scale of credit guarantee institutions has limitations. To overcome these limitations, we propose a new model of direct or indirect government support for small business e-MP projects. This new model will support the B2B electronic commerce by allowing it to directly involve guarantee institutions directly in B2B online transactions. Therefore, this study urges government backing of the SME based B2B online business model with e-MP service.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.6
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• pp.47-64
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• 2014

Considering the network externality and spill-over effects, this paper constructs the theoretical model for analyzing the financial policies focusing on the credit guarantee system for Creative Economy, which has been set as the new policy paradigm for the Korean Economy. The analytical results show that it is as much as important to improve the efficiency of the financial markets and construct the infrastructure for reducing the information asymmetry problem which would be more serious in the creative finance. Although it is important to fill the gap due to the market failure it is also crucial to construct the appropriate financial schemes for the various stages of the innovative firms growth. Without these, the impacts of current public funding policies may crowd out the amount of private market funds for the innovative firms or reduce the possibility of commercialization of new technologies in these firms. Based on the evaluation of current related public policies from the perspectives of creative finance, we imply that the current financial policies appear to be quantity oriented not the quality based. Although the policy goals would be appropriately set for vitalizing the Creative Economy in Korea, they appear to be still unsuccessful to address the information asymmetry issue which is the major concern in vitalizing the creative economy. Thus we emphasize the market friendly policies, risk-sharing between the various market participants, revitalizing the relationship banking and efficient management of credit guarantee system in Korea based on the analytical model as well as the evaluation of related policies regarding the creative economy.

• KDI Journal of Economic Policy
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• v.12 no.3
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• pp.71-94
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• 1990

This paper reviews the rationale of monetary and banking intervention by an outside authority, either the government or the central bank, and seeks to delineate clearly the optimal limits to the monetary and banking deregulation currently underway in Korea as well as on a global scale. Furthermore, this paper seeks to establish an objective and balanced view on the role of the central bank, especially in light of the current discussion on the restructuring of Korea's central bank, which has been severely contaminated by interest-group politics. The discussion begins with the recognition that the modern free banking school and the new monetary economics are becoming formidable challenges to the traditional role of the government or the central bank in the monetary and banking sector. The paper reviews six arguments that have traditionally been presented to support intervention: (1) the possibility of an over-issue of bank notes under free banking instead of central banking; (2) externalities in and the public good nature of the use of money; (3) economies of scale and natural monopoly in producing money; (4) the need for macro stabilization policy due to the instability of the real sector; (5) the external effects of bank failure due to the inherent instability of the existing banking system; and (6) protection for small banknote users and depositors. Based on an analysis of the above arguments, the paper speculates on the optimal role of the government or central bank in the monetary and banking system and the optimal degree of monetary and banking deregulation. By contrast to the arguments for free banking or laissez-faire monetary systems, which become fashionable in recent years, monopoly and intervention by the government or central bank in the outside money system can be both necessary and optimal. In this case, of course, an over-issue of fiat money may be possible due to political considerations, but this issue is beyond the scope of this paper. On the other hand, the issue of inside monies based on outside money could indeed be provided for optimally under market competition by private institutions. A competitive system in issuing inside monies would help realize, to the maxim urn extent possible, external economies generated by using a single outside money. According to this reasoning, free banking activities will prevail in the inside money system, while a government monopoly will prevail in the outside money system. This speculation, then, also implies that the monetary and banking deregulation currently underway should and most likely will be limited to the inside money system, which could be liberalized to the fullest degree. It is also implied that it will be impractical to deregulate the outside money system and to allow market competition to provide outside money, in accordance with the arguments of the free banking school and the new monetary economics. Furthermore, the role of the government or central bank in this new environment will not be significantly different from their current roles. As far as the supply of fiat money continues to be monopolized by the government, the control of the supply of base money and such related responsibilities as monetary policy (argument(4)) and the lender of the last resort (argument (5)) will naturally be assigned to the outside money supplier. However, a mechanism for controlling an over-issue of fiat money by a monopolistic supplier will definitely be called for (argument(1)). A monetary policy based on a certain policy rule could be one possibility. More importantly, the deregulation of the inside money system would further increase the systemic risk inherent in the current fractional banking system, while enhancing the efficiency of the system (argument (5)). In this context, the role of the lender of the last resort would again become an instrument of paramount importance in alleviating liquidity crises in the early stages, thereby disallowing the possibility of a widespread bank run. Similarly, prudential banking supervision would also help maintain the safety and soundness of the fully deregulated banking system. These functions would also help protect depositors from losses due to bank failures (argument (6)). Finally, these speculations suggest that government or central bank authorities have probably been too conservative on the issue of the deregulation of the financial system, beyond the caution necessary to preserve system safety. Rather, only the fullest deregulation of the inside money system seems to guarantee the maximum enjoyment of external economies in the single outside money system.

• The Plant Pathology Journal
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• v.22 no.4
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• pp.353-359
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• 2006

Transgenic Nicotiana benthamiana plants harboring the coat protein(CP) gene of Zucchini green mottle mosaic virus(ZGMMV) were chosen as a model host for the environmental risk assessment of genetically modified plants with virus resistance. This study was focused on whether new virus type may arise during serial inoculation of one point CP mutant of ZGMMV on the transgenic plants. In vitro transcripts derived from the non-functional CP mutant were inoculated onto the virus-tolerant and -susceptible transgenic N. benthamiana plants. Any notable viral symptoms that could arise on the inoculated transgenic host plants were not detected, even though the inoculation experiment was repeated a total of ten times. This result suggests that potential risk associated with the CP-expressiing transgenic plants may not be significant. However, cautions must be taken as it does not guarantee environmental safety of these CP-mediated virus-resistant plants, considering the limited number of the transgenic plants tested in this study. Further study at a larger scale is needed to evaluate the environmental risk that might be associated with the CP-mediated virus resistant plant.

• Proceedings of the Korea Water Resources Association Conference
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• 2023.05a
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• pp.245-245
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• 2023

This paper examines the extent to which the Mekong River Basin countries have achieved socioeconomic benefits based on regional cooperation through the Greater Mekong Subregion (GMS) Program, focusing on hydropower development and the Mekong Power Grid. This study pays attention to the time period from 2012 to 2022. The benefit sharing approach is employed to evaluate the extent to which hydropower development and the Mekong Power Grid have contributed to the regional energy trade in the GMS program. The GMS program was launched by the Asian Development Bank (ADB) in 1992, and the Chinese provinces of Yunnan and Guangxi, Myanmar, Lao PDR, Thailand, Cambodia, and Vietnam have taken an active part in the program. The goals of the GMS program are to achieve poverty alleviation, economic development, and regional cooperation in various sectors, including energy, tourism, and transportation. The GMS Economic Cooperation Program Strategic Framework 2030 (GMS-2030), in 2021, provides a new framework for prosperous and sustainable development in the river basin. In the energy sector, the GMS program has been instrumental in facilitating hydropower development and creating the Mekong Power Grid with the Regional Grid Code (RGC), contributing to economic benefits and promoting regional trade of hydroelectricity. It is argued that the GMS program has enhanced regional cooperation between the riparian countries. Despite such achievements, the GMS program has faced challenges, including the gap of economic development between the riparian countries, socioeconomic and environmental concerns regarding hydropower development between the Upper and Lower Mekong countries, and geopolitical tensions from the US-China rivalry. These challenges should adequately be addressed within the program, which can guarantee the sustainability of the program for the river basin.

• Plant Journal
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• v.11 no.1
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• pp.30-38
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• 2015

This study is about whether the new Project Finance scheme called "Asset Backed Short Term Bond(ABSTB)" with Project Finance Guarantee Cover provided by Korean Exim Bank(KEXIM) is an appropriate and valid financing structure, through close examinations on domestic and overseas IPP case studies. This study clearly indicates that (i) the interest rate of ABSTB with KEXIM's Project Finance Guarantee is relatively more competitive than the interest rate of other ABSTB guaranteed by EPC Companies (ii) the lower credit rated EPC companies make higher ROE(Return on Equity) through this financing structure. Lastly, Korean EPC Companies can secure profitability through this innovative financing scheme which will also lead to winning more power plant Contracts and become globally competitive.

• Journal of Veterinary Clinics
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• v.30 no.4
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• pp.223-229
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• 2013

Because colostrum is considered to be the sole source of passively acquired maternal antibodies for calves, newborn calves must consume colostrum to gain disease resistance during their early years of life. Storage of surplus colostrum from dairy cows right after calving and feeding newborn calves in deficiency of colostrum to assure adequate uptake of IgG for protection of the calf has been a common practice in the bovine production. In the current study, 35 colostrums were randomly collected from 3 colostrum banks located in different regions of Korea and monitored for general bacterial contamination and major bovine pathogens. Immunoglobulin concentrations and BVDV-specific antibodies were also determined to evaluate the immune quality of the colostrums. Moderate to severe bacterial contamination (up to 72,000,000 CFU/ml) was observed in most of the colostrums collected from colostrum banks. General immune quality of the colostrums was under the satisfactory level since most of the colostrums contained less than 50 g/L of IgG, which is the minimum concentration for good quality colostrums. Therefore, colostrum for colostrum bank should be collected at the first 2-3 post-partum milkings according to proper harvesting and handling procedures to guarantee the safety and quality of colostrum. In addition, it was recommended that colostrum should be heat-treated before frozen and stored in the bank because pasteurization at $63^{\circ}C$ for 30 min was very effective reducing the risk of disease transmission without causing significant degradation of immunoglobulins.

• Journal of KIISE:Computer Systems and Theory
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• v.30 no.7_8
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• pp.408-416
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• 2003

An electronic cash system has to provide the security, to prevent the double spending and to support the divisibility of electronic cash for the easy of use. Divisible electronic cash system allows an electronic cash to be divided into subdivisions. Each subdivision is worth any desired value, but all values must add up to the original cash value. Divisible scheme brings some advantages. It reduces to make the change and also there is no necessity that a customer must withdraw a cash of the desired value whenever transactions occur. In this paper, we present an electronic cash protocol which provides the divisibility based on the double hash chain technique. Electronic cash is constructed in the form of coins. Coins, generated by the double hush chain, have different denominations. The divisibility based on the double hash chain technique. Electronic cash is constructed in the form of coins. Coins, generated by the double hash chain, have different denominations. The divisibility of an electronic cash is satisfied by the payment certificate, which is a pair of bank´s proxy signature received from the bank. When a customer pays the coin of subdivision, the fairness of that coin is certified by a customer´s signing instead of a bank. Although the proposed method does not guarantee user´s anonymity, it generates coins which cannot be forged, and the customer can use an electronic cash conveniently and efficiently with its divisibility.

• Journal of Institute of Control, Robotics and Systems
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• v.10 no.2
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• pp.112-124
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• 2004

A neural network based adaptive reconfigurable flight controller is presented for a class of discrete-time nonlinear flight systems in the presence of variations of aerodynamic coefficients and control effectiveness decrease caused by control surface damage. The proposed adaptive nonlinear controller is developed making use of the backstepping technique for the angle of attack, sideslip angle, and bank angle command following without two time separation assumption. Feedforward multilayer neural networks are implemented to guarantee reconfigurability for control surface damage as well as robustness to the aerodynamic uncertainties. The main feature of the proposed controller is that the adaptive controller is developed under the assumption that all of the nonlinear functions of the discrete-time flight system are not known accurately, whereas most previous works on flight system applications even in continuous time assume that only the nonlinear functions of fast dynamics are unknown. Neural networks learn through the recursive weight update rules that are derived from the discrete-time version of Lyapunov control theory. The boundness of the error states and neural networks weight estimation errors is also investigated by the discrete-time Lyapunov derivatives analysis. To show the effectiveness of the proposed control law, the approach is i]lustrated by applying to the nonlinear dynamic model of the high performance aircraft.

• Journal of Institute of Control, Robotics and Systems
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• v.9 no.4
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• pp.329-339
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• 2003

A neural network based adaptive controller design method is proposed for reconfigurable flight control systems in the presence of variations in aerodynamic coefficients or control effectiveness decrease caused by control surface damage. The neural network based adaptive nonlinear controller is developed by making use of the backstepping technique for command following of the angle of attack, sideslip angle, and bank angle. On-line teaming neural networks are implemented to guarantee reconfigurability and robustness to the uncertainties caused by aerodynamic coefficients variations. The main feature of the proposed controller is that the adaptive controller is designed with assumption that not any of the nonlinear functions of the system is known accurately, whereas most of the previous works assume that only some of the nonlinear functions are unknown. Neural networks loam through the weight update rules that are derived from the Lyapunov control theory. The closed-loop stability of the error states is also investigated according to the Lyapunov theory. A nonlinear dynamic model of an F-16 aircraft is used to demonstrate the effectiveness of the proposed control law.