The capital structure of the shipping business, which is characterized by its capital intensity and extreme market volatility, is closely related to long-term stability. Research in this area has been conducted mostly in the form of deriving the determinants of capital structure from company-wise financial ratios. This research, on the other hand, has a different approach to the topic. It identifies the relationship between actual cash profit and loss and other variables - i.e. actual vessel prices, interest rates and leverage ratio - by employing historical simulation. The result demonstrates that the P anamax cash profit shows 0 (break-even point) when the debt weight reaches 64.38% (debt ratio 180.74%) and the Cape, 73.04% (debt ratio 270.92%). Additionally, the ships of different types show a divided pattern for the pre- and post-'Super Boom'. It indicates that the business area and the market cycle should be considered when a leverage strategy is established. This research benefits shipping companies set a rational leverage strategy as well as delivers a reasonable guideline to government authorities for the development of a sound policy on shipping finance.
The thesis tries to compare The Structure of World History with Anti-Oedipus in the textual context, and to re-compare in the educational context. I mean by the education an event which contrasts starkly with an essence. It adopts 5W1H, a general reporting form of an accident or event, as the distinctive features at twice comparisons. The purpose of the thesis is not evaluative but interpretive comparison. In the textual context, the thesis discusses, 1) as WHAT, the use of Marx from Kant vs. Nietzsche's point of view, 2) as WHO, the actual subjects of the exchanging human vs. the productive machine, 3) as WHEN/WHERE, the society of the modes of exchange vs. the modes of inscription, 4) as HOW, the revolutionay means of the simultaneous revolution of the world vs. the schizophrenic process, 5) as WHY, the ideal subjects of the associative human vs. the non-human of liberation of desire. In the educational context, the thesis discusses, 1) in the WHAT as educational way, autonomous morality vs. active power, 2) in the WHO as the affirmity of actual subjects, that of the ideal idea vs. that of real power, 3) in the WHEN/WHERE, as the in-between time-space of education, the incommensurable communicative situation of humans vs. the conflictive of machines, 4) in the HOW, as the educational method of achieving the ideal, the involuntary restoration of the already-had ideal vs. the now-have completion and break-through of the schizophrenic process, 5) in the WHY, as the aim of education, cosmopolitan vs. overman.
Journal of the Korea Academia-Industrial cooperation Society
/
v.22
no.3
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pp.279-290
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2021
This study evaluated the economic feasibility of facility farms according to the introduction of the ultra-high density pot cultivation (UHDPC) for mango. The basic model was selected as a representative farmhouse case in the Jeonnam region, and seven scenarios for conventional crops were tested. The economic feasibility of crop switching was analyzed through partial budget analysis (PBA). The PBA analysis results were supplemented by adding a sensitivity analysis and a break-even point (BEP) analysis. As a result of the analyses, it was found that crop conversion was economical because the increase in the profit coefficient was greater than the increase in the loss coefficient due to the introduction of mango for all conventional crops. The economics of introducing mango was more sensitive to changes in gross income than to changes in cost items. The results show the detailed conditions of crop selection according to the conditions and preferences of individual farms by presenting the direction of increase and decrease by budget item and information on the amount of increase or decrease. In particular, the BEP analysis result, which is about half of the farms case, is significant in that it presents the minimum target value according to production and market risks.
Through the comparative analysisand inductive research on main creation styles of Chinese, American and Japanese animation films, a conclusion can be given out, which means that the animation film style of each country can hardly be formed without their own traditional painting art, aesthetics habits and ways of thinking. It is these characteristics that form their unique animation film style. America emphasizes realism art, development and utilization of new technology, Japan pays sepcial attention totraditional painting art and comic stories. In business aspect, they bring about different business models relying on the experience of satisfying the diverse needs of domestic and global entertainment markets. When it comes to the content field, they carry forward universal values and meet the individualistic heroismso that a variety of business animation films and art animation films find their ways into the global market and acquire great popularity among audiences from all over the world. Through the comparasion of American and Japanese animation films, a new view to analyze the animation films of China is created. Animation creation is largely based on the need of socialist ideology from 50s to 80s. Even though the purposes of animation film creations returned to satisfying the diverse requirements of commercial markets and audiences, the consequences, such as the break gap of creations and talents, the lack of diverse creative styles and commercial market operation mechanism, sitll affect China's animation films today. Japan found thier position from the American model and became successful. Nowadays, China need find our own creative style and position from American model and Japanese model. And the systematic reformings that are detailed in the government managements, industry standards, internationalized talents cultivation and accumulation are the essential point.
Journal of the Korea Academia-Industrial cooperation Society
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v.22
no.2
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pp.529-538
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2021
This research provides suggestions for development in colleges of applied music by studying their current curriculum management status and by analyzing the curricula. To that end, this research focuses on comparing cases from four-year universities and vocational colleges. Analysis of the curricula of three departments based in Busan reveal that the curricula of applied music departments bear some resemblance to those of fine music departments, but they also have significant differences. In Busan, applied music departments have curricula influenced by fine art, but they seek differentiation in whatever ways they can. Educational institutes for applied music should expand their curricula to be more on-point, and should seek interdisciplinary courses that embrace other majors, and that promote the improvement of educational environments. Nowadays, there is a need to break away from previous discourse that happens only within the boundaries of music. For example, applied music departments could join business or media departments in launching interdisciplinary courses on music production or policies. Students would benefit from such courses as they expand the scope of their career options to consider not only being a musician but also being producers or policymakers in the arts. People from various sectors could join public discussions to jointly seek ways to promote such collaboration. Now is the time for fundamental reflection on the development of applied music in Korea.
Journal of Korea Entertainment Industry Association
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v.14
no.4
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pp.169-186
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2020
This study selected 127 powerful Korean film producers, directors, and actors whose stable audience drawing power has been proven over the past seven years from 2013 to 2019, and viewed their network through social network analysis(SNA) to explain their power structure. It also explained the changes compared to the results of previous studies conducted on box office hits from 1998 to 2012. The producers who showed the highest audience drawing power over the past seven years were KANG Hae-jung, JANG Won-seok, LEE Eugene, HAN Jae-duk. BONG Joon-ho, KIM Yong-hwa, and RYOO Seung-wan as directors and SONG Kang-ho, HA Jung-woo, and HWANG Jung-min as actors were confirmed to exhibit the most stable audience drawing power. Meanwhile, the network formed by the 127 leading producers, filmmakers, and actors was analyzed based on closeness/ degree/eigenvector/betwenness centrality, and the result discovered a strong network involving JANG Won-seok, HAN Jae-duk, CHO Jin-woong, Don LEE, and HWANG Jung-min. This study is meaningful in that it included producers, the position which has never been discussed in previous local studies to analyze the network influencing star casting, and selected accurate box office hits by checking whether the concerned films actually reached break-even point rather than simply relying on the number of audiences or total revenue they garnered. Nonetheless, it left a hole to be filled in that it did not include the role of the management companies in the network. Therefore, a relevant follow-up discussion would be needed.
The amount of the Korean export & import in 1987 reached $88.3 billion which was 1.75% of the total world trade and the proportion of foreign dependence to G.N.P was 74.5%. From these facts, we can infer that the development of national economy is largely dependent upon trade. Therefore the role of transportation, especially Ocean transportation, as a basis of economic development through trade is one of the main factors that can not be passed over. Here, We can define that a port as a subsystem of transportation determines the efficiency of the total transportation system. Thus, the purpose of this paper is to contribute in improvement of the efficiency in port, reinforcement of the international competitiveness for exporting goods by the analysis of the cargo handling charges. In order to do this, this paper deals the case of B.C.T.O.C. Furthermore, this study gives some important informations related to the level of tariffs for establishing an autonomous port administration. The Summary of the conclusions of this paper is as follows ; 1) The object of port administration in Korea has been emphasized on the maximization of efficiency in using the port facilities. Nowadays, however, it should be moved to a direction that port is operated under the compound aims considering the public interests and economy. 2) For a criterian of tariff calculation, A tariff system based on the cost accounting is desirable. In general it is recommended that the cost for construction, management, and operation of port is compensated by the revenue from port operation. Therefore, it is necessary for the administration bodies of each port to establish a tariff system on the basis of the independent profit system. 3) For the investigation of actors of tariff adjustment by the Break-even point analysis, (1) When we conducted the B.E.P analysis using total cost as cost term, we got 3.8% discount in tariff at 12% of target profit rate and 1.5% discount at 15% of rate. when we set the target profit rate as 17% we could have the proper tariff level. (2) When using operating cost as cost term, we got 13.1% discount in tariff at 12% of target profit rate and 10.9% discount at 15% of rate. When setting the target profit rat as 28%, we could have the proper tariff level. 4) Comparing with the tariffs of foreign ports for the basic terminal rate, The tariff level of B.C.T.O.C showed 33% of stevedoring charge and 80% of marshalling charge incurred at Kobe port. The comparison with Singapore port gave 50% of transhipment charge and 17% - 20 % of stevedoring charge. 5) We found that the financial structure of B.C.T.O.C was better than those of other companies and the worth fixed assets ratio was too low. The fact of low worth fixed assets ratio implies that the cargo handling facilities should be increased. Moreover, The return of assets for B.T.T.O.C was good but non-operating expenses were still contained too much in. Therefore, we think that it is necessary for B.C.T.O.C. to rationalize business management. Although the present cargo handing charge for B.C.T.O.C is a proper level in terms of a public corporation, for the final recommendation in connection to the results, It is required to take the rationalization process for business management.
Purpose: This study was to investigate whether the application of different diagnostic criteria affected the frequency of convergence insufficiency (CI). Methods: Eighty one subjects with mean age of 22.54 years (20 to 27 years) were evaluated. Binocularity tests after refraction were performed as the following tests: near point of convergence (NPC) with an accommodative target, phoria using von Graefe method, positive fusional vergence (PFV) with a phoropter. Subjects with CI were diagnosed when exophoria (exo) was greater at near than at distance ($exo{\geq}4{\Delta}$, or >$6{\Delta}$), fusional vergence was $PFV{\leq}11{\Delta}$ for blur, $PFV{\leq}15{\Delta}$ for break, Sheard's or Percival's criterion, and NPC was $NPC{\geq}6cm$, ${\geq}7.5cm$ or >10 cm. Results: Frequency of CI with one diagnostic criterion was ranged from 6.2% to 77.8%, and was overestimated or underestimated according to criteria. It was reduced to the range of 6.2% to 43.2% with diagnostic criteria more than two, especially to the range of 24.7% to 28.4% with lower variability in diagnostic criteria including phoria and Sheard's criterion. There were high relationship between total score of signs and phoria score (r = 0.772, p<0.001), and measured phoria and Sheard's criterion (r = -0.654, p<0.001), but NPC had a high variability and a weak or no significant relationship with other diagnostic criteria. Results suggested $exo{\geq}4{\Delta}$, Sheard's criterion and $NPC{\geq}7.5cm$ for diagnostic criteria of signs and sequence for CI. Conclusions: Frequency of CI is likely to be over- and underestimated with diagnostic criteria. Cutoff values and procedures for phoria, Sheard's criterion and NPC as clinical signs should be suggested definitely in diagnosis associated with CI.
Seismic stratigraphic analysis of the high resolution profiles obtained from the southeastern shelf of Korea divided the deposits into 4 sequences; 1) sequence D, 2) sequence C, 3) sequence B and 4) sequence A (Holocene sediments). Sequence D was deposited in shallow-water environment at west of the Yangsan Fault as the basin subsided. On the other hand, the eastern part was formed at the slope front. Landward part of the slope-front fill sediments were eroded and redeposited nearby slope due to the syndepositional tilting of the basin. This tilting probably resulted from the continuous closing of the Ulleung Basin. Sequence C is made of stacked successions of the lowstand fluvial sediments, transgressive sediments and marine highstand sediments derived from the paleo-river in the western part of the Yangsan Fault. Sequence C in the eastern part of the Yanshan Fault was formed at the shelf break. Progradation of the lowstand sediments resulted in broadening of the shelf. Sequence C in the eastern part was also tilted but the tilting was weaker than in Sequence D. During the formation of sequence B the tilting stopped and the point source instead of the line source started in both sides of the Yangsan Fault. Sequence B was composed of the highstand systems tract partially preserved around the Yokji island, lowstand systems tract mainly preserved in the Korea Trough and transgressive systems tract. After the stop of the tilting, the force of compression due to the closing of the Ulleung Basin may be released by the strike-slip faults instead of tilting.
Kim, Hag-Sin;Kim, Young-Jin;Kim, Kyeong-Hoon;Lee, Kwang-Won;Shin, Sang-Hyun;Cheong, Young-Keun;Park, Ki-Hoon
KOREAN JOURNAL OF CROP SCIENCE
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v.57
no.4
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pp.331-336
/
2012
This study was carried out to evaluate the wheat cultivation system to reduce costs and mechanize wheat production. A field study was conducted for 2 years (2009 to 2010) at the National institute of crop science, Iksan, Korea. We used working system I and working system II for the experiment. Working system I is used a multiple machine attached with a spreader tractor (seeding, fertilization, seed coverage, and weed control functionality) and working system II is used a multiple machine with a tractor which works for simultaneous job when seeding step (seeding, fertilization, and seed coverage). Sowing to harvesting operation time is 118 hours/ha for mechanize with conventional planting. Working system I is a multiple machine and a combine machine with a tractor, which worked 26 hours/ha lower than conventional planting. Working system II is 18 hours/ha lower than conventional planting. The reduced work efforts of working system I and II were 78% and 85% respectively. The growth and yield of wheat according to working system I and II is lower than conventional planting. Therefore, a multiple machine needs to study for appropriate seeding rate. Mechanization cost in consideration of the mechanical break-even point when the working system I is 3.7 ha and working system II is 4.2 ha. The farm income is enhanced by working system I (778,110 won/ha) and working system II (849,930 won/ha). The results showed that application of a multiple machine lowered costs of wheat production.
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