• Journal of Korea Trade
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• v.23 no.3
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• pp.118-137
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• 2019

Purpose - As global trade disputes intensify and global trade uncertainty increases due to the prevailing trade protectionism all over the world, mega-FTAs such as the RCEP and CPTPP are suggested as strategic trade policy options for export-driven small open economies, such as Korea. This paper aims to provide a comprehensive analysis of Korea's mega-FTA participation and the induced implications for the Korean economy. Design/methodology - We use a multi-region, multi-sector global CGE model, and investigate the different effects of both the US-China and US-EU trade wars on the relative changes in GDP, welfare, and trade under different trade policy regimes; (i) Korea does not participate in any mega-FTA, (ii) Korea participates in the RCEP, and (iii) Korea participates in the CPTPP. Findings - We show, among others, that though industrial effects might be largely varied, the overall enlarging of free trade zones through multilateral mega-FTA participation may contribute significantly to the macroeconomic soundness and stability of Korea, even when global trade protectionism prevails. Under RCEP and CPTPP trade regimes, Korea's GDP may increase even when the global trade environment deteriorates as trade wars occur and intensify between the US and China, or between the US and EU. It is also estimated that RCEP participation increases Korea's GDP, welfare (measured in equivalent variation), and total trade by 1.12%, $1.09 billion, and 2.54%, respectively, while CPTPP participation increases them by 0.19%, $0.92 billion, and 0.13%, respectively. Originality/value - Existing studies usually focus on the direct impacts of mega-FTA participation on macroeconomic variables such as GDP, welfare, and trade, and do not consider the possible buffer effects of a mega-FTA when the global trade environment worsens. In this paper, we analyze and quantify not only the direct impacts of RCEP and CPTPP on the main macroeconomic variables but also the possible buffer effects of the RCEP and CPTPP in the cases of the US-China and US-EU trade wars.

• Journal of Korea Trade
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• v.24 no.8
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• pp.19-38
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• 2020

Purpose - The Korean government has been promoting the New Southern Policy (NSP) prior to the onset of the COVID-19 pandemic, which damage global value chain (GVC). The purpose of this paper is to emphasize that the NSP should be developed to provide tangible support in corporate GVC adjustment, away from diplomatic activities in order to offset GVC losses due to COVID-19 and expand export capabilities. Design/methodology - Two research methodologies are combined for this paper: A computational general equilibrium (CGE) model is used to estimate the impacts of the COVID-19 pandemic and NSP on Korea's exports, and the decomposition methodology (Wang, Wei and Zhu, 2013) to evaluate the stability of GVC. The conventional CGE model was modified to obtain an estimate for decomposition. The research methodology adopted in this study was attempted for the first time, and it can be widely used in future GVC research. Findings - Results found the effects of COVID-19 reduced Korea's total exports by 27% and GVC by more than 30%. In particular, VA in Korea's exports to the NSP region was found to have a huge impact in heavy industries and textiles, and its exports to Vietnam seemed to suffer the largest loss in GVC among ASEAN countries. If the NSP is implemented properly, it appears that it could offset much of the negative impacts of COVID-19, implying the importance of the effectiveness of the NSP. Originality/value - Many papers have assessed the NSP descriptively, and the GVC has been a topic for many publications. However, the impact of COVID-19 on Korea's GVC with the NSP countries has not been quantitatively studied. This paper emphasizes that the NSP should be pursued based on the results of quantitative analysis. In addition, the research methodology of this paper can be used for other GVC research with relevant modifications.

• International Area Studies Review
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• v.22 no.2
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• pp.211-218
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• 2018

The evaluation of aid effectiveness at the national level has mostly focused on qualitative evaluation. This paper attempts to quantitatively evaluate EDCF 's support for Vietnam in 1995 ~ 2016 on the economy. First, we compare the strengths and weaknesses of various methodologies that can be used for quantitative assessment: panel analysis based on growth theory, input-output analysis, social account matrix analysis, CGE model, DSGE model, and time series analysis. Using the input-output analysis, we estimate that total output and value added have been generated about $5.9 billion and $1.7 billion in Vietnam, respectively. The increase in income per capita from the support was estimated to have contributed to a 0.21%p reduction in the poverty rate in Vietnam.

• East Asian Economic Review
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• v.20 no.1
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• pp.67-90
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• 2016

This paper provides an assessment of the potential economic impacts of the Vietnam-Korea free trade agreement on Vietnam, by using general equilibrium modeling. The results show that Vietnam-Korea FTA will increase aggregate welfare for both countries in the long run. The most important gains accrue from better allocation of resources consequent to trade liberalization. All the sectoral differences and changes are consistent with the trade profiles of the two countries, and the long-run results are more pronounced than those of the short-run. In comparison with other ASEAN countries, the CGE analysis suggests that Vietnam's agriculture exports to Korea would especially rise in the long run. However, there will be strong competition in this sector among ASEAN members. Thus, an earlier conclusion of a comprehensive FTA with Korea is expected to be a good strategy for Vietnam, so as to avoid the direct competition with ASEAN members in the future.

• Journal of KIISE:Software and Applications
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• v.26 no.3
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• pp.431-440
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• 1999

기존 시각언어 컴파일러 자동화 도구는 시각 구문의 그래픽 정의부분을 명세하고 확장 및 수정하는 방법의 한계로 인해 어휘분석단계를 처리하는데 어려움이 있다. 이러한 문제점을 해결하기 위해 본 논문에서는 객체지향 시각언어 문법을 기반으로 한 새로운 방식의 문법 기반 자동 생성 시스템인 시각언어 컴파일러 자동 생성 환경(CGE-VL)을 구축한다. 이 시스템은 객체지향 패러다임을 기초로 한 시각언어 컴파일러 구축을 위한 실질적인 도구로 기존의 시각언어 컴파일러 자동화 도구와는 구별되는 객체지향 시각언어의 효과적인 명세 방법 제공, 어휘분석기를 이용한 파싱 시간의 단축, 객체지향 파서를 자동 생성하는 등의 새로운 특성을 제공한다. 이러한 특성은 특히 동일한 의미를 가지는 언어 구성요소가 그 쓰임에 따라 서로 다른 구체화된 의미 및 행동을 가지는 객체지향 시각언어에서는 언어 명세에서 최종 산물인 컴파일러에 이르는 전 단계에 동일한 객체 지향 패러다임을 사용함으로써 일관된 개발방법을 제공하여 그 효과가 두드러진다.

• Environmental and Resource Economics Review
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• v.10 no.4
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• pp.495-513
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• 2001

We investigate a practical method of calculating the impact of multiple domestic energy price change on the final demand, production, the export and import change, the change in the balance of payment of Korean economy. By combining an existing computable general equilibrium (CGE) model with the traditional input-output analysis with two additional assumptions on the price behavior, we provide a cost-effective method of analyzing the impact of multiple energy price changes on the domestic economy. The energy price shock we used in this paper is 0.127% increase weighted by the sectoral productions. The total impacts on price level and GDP are 1.258% and -0.940%, respectively. The impact on the total output (GDP and intermediate goods) is about -1.580%.

• Proceedings of the Korean Society of Developmental Biology Conference
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• 1998.07a
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• pp.25-26
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• 1998

흰쥐의 배아발생 동안에 CGE가 존속하는지 여부와 이러한 물질에 의한 투명대와 배아표면의 미세구조 변화를 조사한 결과는 다음과 같다. 배아표면은 미수정란과는 다르게 배아표면의 미세 융모가 단축된 특징을 보였고, 8-세포기 배아에서 뚜렷하게 볼 수 있는 구조물에 의해 덮혀있다. 투명대의 구조역시 성숙난자에 존재하는 구조와는 다른 특징을 나타났고, 특히 투명대의 섬유성 미세공 구조가 거칠고 수적인 감소가 나타났다. 위란강에 피질반응에 의한 피질과립막이 형성되어 배아발생 동안에 존속하였으나 배아발생 동안에 수정란 보다는 엷고 국소적인 분포양상을 나타내었다. 본 결과를 종합해 볼때 흰쥐 초기배아발생 동안에 피질과립막이 존속하였고, 수정시 투명대경화 뿐만 아니라 피질반응에 의해 투명대의 미세구조와 배아표면의 구조도 변화됨을 알 수 있다.

• Environmental and Resource Economics Review
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• v.11 no.1
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• pp.145-184
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• 2002

This paper analyzes the impact of imposing carbon tax on the Seoul economy to reduce Greenhouse Gas(GHG) emission. We construct the social accounting matrix of Seoul, specifying energy and transport sectors which is closely related to air pollution. Then, we formulated the computable general equilibrium (CGE) model of seoul and performed scenario analysis. The main result shows that the economic cost of GHG reduction is quite large but the health benefit is also considerable. It also suggests the importance of cost effective measures such as the development of new energy technology and the improvement of energy efficiency.

• Environmental and Resource Economics Review
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• v.10 no.2
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• pp.173-216
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• 2001

We compare impacts of different $CO_2$ abatement mechanisms using a CGE model. Focus is on the way the tradable permits are initially distributed for emissions trading, namely auction and grandfathering. For three major energy consuming industries (basic chemical, iron & steel and electricity) in Korea, emissions trading is clearly superior to individual $CO_2$ abatement, but auction and grandfathering show somewhat different patterns of impact. We show that depending on how the government uses the revenue from permit auction, auction may be preferable to grandfathering.

• Proceedings of the KOSOMBE Conference
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• v.1993 no.11
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• pp.23-26
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• 1993

In MR functional imaging, it is shown that the signal change during photic activation is composed of two terms, i.e. the inflow effect and the susceptibility effect. Relatively the inflow effect affects the data obtained by CGE on the condition of short $T_E$(15ms) and large $\alpha$(90degree). The susceptibility effect, however, mainly contributes to the data on the condition of large $T_E$(35ms) and small $\alpha$(30degree). In this apper, we will discriminate the susceptibility effect for the intermingled data affected both flow effect and susceptibility effect. Finally susceptibility only functional imaging is proposed by using TRFGE.