• Title/Summary/Keyword: Drop analysis

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An Analysis of the Dynamics between Media Coverage and Stock Market on Digital New Deal Policy: Focusing on Companies Related to the Fourth Industrial Revolution (디지털 뉴딜 정책에 대한 언론 보도량과 주식 시장의 동태적 관계 분석: 4차산업혁명 관련 기업을 중심으로)

  • Sohn, Kwonsang;Kwon, Ohbyung
    • The Journal of Society for e-Business Studies
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    • v.26 no.3
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    • pp.33-53
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    • 2021
  • In the crossroads of social change caused by the spread of the Fourth Industrial Revolution and the prolonged COVID-19, the Korean government announced the Digital New Deal policy on July 14, 2020. The Digital New Deal policy's primary goal is to create new businesses by accelerating digital transformation in the public sector and industries around data, networks, and artificial intelligence technologies. However, in a rapidly changing social environment, information asymmetry of the future benefits of technology can cause differences in the public's ability to analyze the direction and effectiveness of policies, resulting in uncertainty about the practical effects of policies. On the other hand, the media leads the formation of discourse through communicators' role to disseminate government policies to the public and provides knowledge about specific issues through the news. In other words, as the media coverage of a particular policy increases, the issue concentration increases, which also affects public decision-making. Therefore, the purpose of this study is to verify the dynamic relationship between the media coverage and the stock market on the Korean government's digital New Deal policy using Granger causality, impulse response functions, and variance decomposition analysis. To this end, the daily stock turnover ratio, daily price-earnings ratio, and EWMA volatility of digital technology-based companies related to the digital new deal policy among KOSDAQ listed companies were set as variables. As a result, keyword search volume, daily stock turnover ratio, EWMA volatility have a bi-directional Granger causal relationship with media coverage. And an increase in media coverage has a high impact on keyword search volume on digital new deal policies. Also, the impulse response analysis on media coverage showed a sharp drop in EWMA volatility. The influence gradually increased over time and played a role in mitigating stock market volatility. Based on this study's findings, the amount of media coverage of digital new deals policy has a significant dynamic relationship with the stock market.

The Biochemical Studies on Stored Soy-sauce (저장(貯藏)간장의 생화학적(生化學的) 연구(硏究))

  • Chang, Chi-Hyun
    • Applied Biological Chemistry
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    • v.9
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    • pp.9-27
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    • 1968
  • Studies were carried out in order to elucidate chemical components and microflora in three types of soy-sauce, 12-year aged soy-sauce prepared by improved method. 7-year aged and 20-year aged soy-sauce prepared by ordinary method. They results are summarized as follows: 1. The followings are found to be the important factors affecting the quality of soy sauce. a. Organic acids, reducing sugars and free amino acids were increased in the course of storage. b. In the aged soy-sauces under study non-volatile organic acid increased while volatile organic acid decreased and the total acidity was dependent only upon tie latter. c. It was found that suit concentration decreased during the storage. 2. The results of investigation of microflora in the stored soy-sauce are shown as follows. Soy-sauce Improved Ordinary Microbe 12-Y. 20-Y. 7-Y. Aerobic bacteria colony/1ml. 6 123 2 Halophilic lactic acid bacteria colony/1ml. 4 6 10 Osmophilic yeast colony/1ml. $828{\times}10^4$ 248 - b. In the stored soy-sauces, aerobic bacteria are incapable of growing due to drop in pH value and the influence of salt concentration. c. Halophilic lactic acid bacteria are incapable of growing due to drop in pH value, even the salt concentrations decreased during the storage. d. Osmophilic yeast are still growing in low pH value and in the decreasing salt concentration during the strage. 3. The results of amino acid analysis by paper partition chromatographic and calorimetric methods are shown as follows. a. Fourteen kinds of amino acid and thirteen amino acids were detected in the soy-sauce of 12-year aged improved soy-sauce and 7-year aged and 20-year aged ordinary one, respectively. b. The contents of aspartic acid, glutamic acid, serine, valine, leucine, lysine, histidine and methionine increased in the 20-year aged ordinary soy-sauce compared to the 7-year aged one. On the other hand those of alanine, tyrosine, phenylalanine and cystine decreased. 4. The results of sugar analysis by paper chromatography are as follows. a. In the 12-year aged improved soy-sauce, galactose, glucose, arabinose, xylose, rhamnose, maltose and an unknown were detected, and their amounts were in the above order except maltose and an unknown. b. Both in the 7 and 12-year aged ordinary soy-sauces, galactose, arabinose, xylose, glucose and rhamnose were detected and the amounts of the sugars were in the above order. c. In the non-aged ordinary soy-sauce, glucose was not detected but detected from 7-year and 20-year aged ordinary soy-sauce. 5. The results of organic acid analysis by paper chromatography were as follows. a. As volatile acids, acetic, propionic and butyric acids were detected in the 7-year aged ordinary soy-sauce. On the other hand in both the 20-year aged ordinary soy-sauce and the 12-year aged improved ones, only acetic acid was abundant while propionic and butyric acids were round in trace. It was found that propionic and butyric acids, as the unpleasant flavor components, decreased during the storage. b. In the ordinary soy-sauce, citric acid were produced during the storage and lack, malic and tartaric acids increased in the course of aging while succinic, glycolic, fumaric and malonic acids were shown to decrease. Glutaric and oxalic acids disappeared. Citric acid was produced also in the improved soy-sauce, but lactic, tartaric, succinic, malic, and glycolic acids decreased, while both malonic and glutaric acids disappeared. From the above results the citric acid production was considered to be a favorable factor for the taste. c. In the aged soy-sauces, pyruvic, α-ketoglutaric and probably acetoacetic and oxaloacetic acids (both in trace) were present and their amounts were in the above order. All of the α-keto acid abruptly decreased during the storage.

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Analysis of the Characteristics of the Seismic source and the Wave Propagation Parameters in the region of the Southeastern Korean Peninsula (한반도 남동부 지진의 지각매질 특성 및 지진원 특성 변수 연구)

  • Kim, Jun-Kyoung;Kang, Ik-Bum
    • Journal of the Korean Society of Hazard Mitigation
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    • v.2 no.1 s.4
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    • pp.135-141
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    • 2002
  • Both non-linear damping values of the deep and shallow crustal materials and seismic source parameters are found from the observed near-field seismic ground motions at the South-eastern Korean Peninsula. The non-linear numerical algorithm applied in this study is Levenberg-Marquadet method. All the 25 sets of horizontal ground motions (east-west and north-south components at each seismic station) from 3 events (micro to macro scale) were used for the analysis of damping values and source parameters. The non-linear damping values of the deep and shallow crustal materials were found to be more similar to those of the region of the Western United States. The seismic source parameters found from this study also showed that the resultant stress drop values are relatively low compared to those of the Western United Sates. Consequently, comparisons of the various seismic parameters from this study and those of the United States Seismo-tectonic data suggest that the seismo-tectonic characteristics of the South eastern Korean Peninsula is more similar to those of the Western U.S.

A Study for Factors Influencing the Usage Increase and Decrease of Mobile Data Service: Based on The Two Factor Theory (모바일 데이터 서비스 사용량 증감에 영향을 미치는 요인들에 관한 연구: 이요인 이론(Two Factor Theory)을 바탕으로)

  • Lee, Sang-Hoon;Kim, Il-Kyung;Lee, Ho-Geun;Park, Hyun-Jee
    • Asia pacific journal of information systems
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    • v.17 no.2
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    • pp.97-122
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    • 2007
  • Conventional networking and telecommunications infrastructure characterized by wires, fixed location, and inflexibility is giving way to mobile technologies. Numerous research reports point to the ultimate domination of wireless communication. With the increasing prevalence of advanced cell-phones, various mobile data services (hereafter MDS) are gaining popularity. Although cellular networks were originally introduced for voice communications, statistics indicate that data services are replacing the matured voice service as the growth engine for telecom service providers. For example, SK Telecom, the Korea's largest mobile service provider, reported that 25.6% of revenue and 28.5% of profit came from MDS in 2006 and the share is growing. Statistics also indicate that, in 2006, the average revenue per user (ARPU) for voice didn't change but MDS grew seven percents from the previous year, further highlighting its growth potential. MDS is defined "as an assortment of digital data services that can be accessed using a mobile device over a wide geographic area." A variety of MDS have been deployed, with a few reaching the status of killer applications. Many of them need to access the Internet through the cellular-phone infrastructure. In the past, when the cellular network didn't have acceptable bandwidth for data services, SMS (short messaging service) dominated MDS. Now, Internet-ready, next-generation cell-phones are driving rich digital data services into the fabric of everyday life, These include news on various topics, Internet search, mapping and location-based information, mobile banking and gaming, downloading (i.e., screen savers), multimedia streaming, and various communication services (i.e., email, short messaging, messenger, and chaffing). The huge economic stake MDS has on its stakeholders warrants focused research to understand associated dynamics behind its adoption. Lyytinen and Yoo(2002) pointed out the limitation of traditional adoption models in explaining the rapid diffusion of innovations such as P2P or mobile services. Also, despite the increasing popularity of MDS, unexpected drop in its usage is observed among some people. Intrigued by these observations, an exploratory study was conducted to examine decision factors of MDS usage. Data analysis revealed that the increase and decrease of MDS use was influenced by different forces. The findings of the exploratory study triggered our confirmatory research effort to validate the uni-directionality of studied factors in affecting MDS usage. This differs from extant studies of IS/IT adoption that are largely grounded on the assumption of bi-directionality of explanatory variables in determining the level of dependent variables (i.e., user satisfaction, service usage). The research goal is, therefore, to examine if increase and decrease in the usage of MDS are explained by two separate groups of variables pertaining to information quality and system quality. For this, we investigate following research questions: (1) Does the information quality of MDS increase service usage?; (2) Does the system quality of MDS decrease service usage?; and (3) Does user motivation for subscribing MDS moderate the effect information and system quality have on service usage? The research questions and subsequent analysis are grounded on the two factor theory pioneered by Hertzberg et al(1959). To answer the research questions, in the first, an exploratory study based on 378 survey responses was conducted to learn about important decision factors of MDS usage. It revealed discrepancy between the influencing forces of usage increase and those of usage decrease. Based on the findings from the exploratory study and the two-factor theory, we postulated information quality as the motivator and system quality as the de-motivator (or hygiene) of MDS. Then, a confirmative study was undertaken on their respective role in encouraging and discouraging the usage of mobile data service.

Characteristic of mycelial growth of cauliflower mushroom (Sparassis latifolia) using replacement culture with Trichoderma and rDNA analysis in genealogy of crossbreeding strain (푸른곰팡이 대치배양에 의한 꽃송이버섯 균사 생장 특성 및 계통간 교잡균주의 rDNA 분석)

  • Oh, Deuk-Sil;Kim, Hyun-Suk;Kim, Young;Wi, An-Jin;Yoon, Byung-Sun;Park, Whoa-Shig;Park, Hyeong-Ho;Wang, Seung-Jin
    • Journal of Mushroom
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    • v.12 no.1
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    • pp.41-51
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    • 2014
  • Cauliflower mushroom widely known high concent of ${\beta}$-glucan for farm cultivation invigoration verified characteristics of mycelia growth, genetic diversity, resistance to Trichoderma by replacement culture with Trichoderma and growth characteristics of new variety crossbleeding strain. The result of replacement culture with Trichoderma for verification resistance about Trichoderma, 6951 (T. viride) strain did not show special change after formation of confrontation line and 6952 (T. spp.) strain was showed more formation of spore after formation of confrontation line. But 6426 (T. harzianum) strain found to encroach part of growth area of cauliflower mushroom mycelia. Among 10 kinds cauliflower mushroom strain, JF02-06 strain collected by Gurye, found did not spore of Trichoderma and thought to be resistant to Trichoderma. The result of crossbleeding after selected that mother strain good growth and formation of fruit body, verified good mycelia growth at JF02-47, 49 and 50 strain in Korean pine of wood-chip media. The result of gene sequence about ITS1, 5.8S and ITS4 for analysis of genetic diversity at crossbleeding strain, found high significance to other cauliflower mushroom in registered Genebank. The result of growth characteristic of spore and mycelia of cauliflower mushroom by observation microscope, size of spore showed water drop shape to major axis $6{\mu}m$ and minor axis $5{\mu}m$ and clamp showed 3 types in mycelia. The wide of mycelia was $3{\mu}m$. The characteristic of mycelia of cauliflower mushroom found to grow mycelia in clamp at approximately 50%. The growth speed of mycelia was $0.507{\mu}m/min$ and 2nd mycelia grown similar speed to mother mycelia at parallel with mother mycelia after growth speed at $0.082{\mu}m/min$. The formation of clamp made small clamp for 5 hours after shown transfer of electrolyte in mycelia inside. The septum formation started after 3 hours and then finally completed after 2 hours. In this study, strain of cauliflower mushroom verified resistance of Trichoderma, genetic diversity and characteristic of mycelia growth. Therefore, basic knowledge of cauliflower mushroom will improve and further contribute to development of mushroom industry.

Evaluation of Internal Phosphorus Loading through the Dynamic Monitoring of Dissolved Oxygen in a Shallow Reservoir (수심이 얕은 저수지에서 용존산소 동적 모니터링을 통한 인 내부부하 평가)

  • Park, Hyungseok;Choi, Sunhwa;Chung, Sewoong;Ji, Hyunseo;Oh, Jungkuk;Jun, Hangbae
    • Journal of Environmental Impact Assessment
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    • v.26 no.6
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    • pp.553-562
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    • 2017
  • In these days, agricultural reservoirs are considered as a useful resource for recreational purposes, tour and cultural amenity for vicinity communities as well as irrigation water supply. However, many of the agricultural reservoirs are showing a eutrophic or hyper-eutrophic state and high level of organic contamination. In particular, about 44.7% of the aged agricultural reservoirs that constructed before 1945 exceed the water quality criteria for irrigational water use. In addition to external loading, internal nutrient loading from bottom sediment may play an important role in the nutrient budget of the aged reservoirs. The objectives of this study were to characterize variations of thermal structure of a shallow M reservoir (mean depth 1.7 m) and examine the potential of internal nutrient loading by continuous monitoring of vertical water temperature and dissolved oxygen (DO) concentration profiles in 2015 and 2016. The effect of internal loading on the total loading of the reservoir was evaluated by mass balance analysis. Results showed that a weak thermal stratification and a strong DO stratification were developed in the shallow M Reservoir. And, dynamic temporal variation in DO was observed at the bottom of the reservoir. Persistent hypoxic conditions (DO concentrations less than 2 mg/L) were established for 87 days and 98 days in 2015 and 2016, respectively, during the no-rainy summer periods. The DO concentrations intermittently increased during several events of atmospheric temperature drop and rainfall. According to the mass balance analysis, the amount of internal $PO_4-P$ loading from sediment to the overlying water were 37.9% and 39.7% of total loading during no-rainy season in 2015 and 2016, respectively on August when algae growth is enhanced with increasing water temperature. Consequently, supply of DO to the lower layer of the reservoir could be effective countermeasure to reduce nutrient release under the condition of persistent DO depletion in the bottom of the reservoir.

Recent Progress in Air-Conditioning and Refrigeration Research : A Review of Papers Published in the Korean Journal of Air-Conditioning and Refrigeration Engineering in 2012 (설비공학 분야의 최근 연구 동향 : 2012년 학회지 논문에 대한 종합적 고찰)

  • Han, Hwataik;Lee, Dae-Young;Kim, Sa Ryang;Kim, Hyun-Jung;Choi, Jong Min;Park, Jun-Seok;Kim, Sumin
    • Korean Journal of Air-Conditioning and Refrigeration Engineering
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    • v.25 no.6
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    • pp.346-361
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    • 2013
  • This article reviews the papers published in the Korean Journal of Air-Conditioning and Refrigeration Engineering during 2012. It is intended to understand the status of current research in the areas of heating, cooling, ventilation, sanitation, and indoor environments of buildings and plant facilities. The conclusions are as follows : (1) The research works on thermal and fluid engineering have been reviewed as groups of fluid machinery, pipes and valves, fuel cells and power plants, ground-coupled heat pumps, and general heat and mass transfer systems. Research issues are mainly focused on new and renewable energy systems, such as fuel cells, ocean thermal energy conversion power plants, and ground-coupled heat pump systems. (2) Research works on the heat transfer area have been reviewed in the categories of heat transfer characteristics, pool boiling and condensing heat transfer, and industrial heat exchangers. Researches on heat transfer characteristics included the results for natural convection in a square enclosure with two hot circular cylinders, non-uniform grooved tube considering tube expansion, single-tube annular baffle system, broadcasting LED light with ion wind generator, mechanical property and microstructure of SA213 P92 boiler pipe steel, and flat plate using multiple tripping wires. In the area of pool boiling and condensing heat transfer, researches on the design of a micro-channel heat exchanger for a heat pump, numerical simulation of a heat pump evaporator considering the pressure drop in the distributor and capillary tubes, critical heat flux on a thermoexcel-E enhanced surface, and the performance of a fin-and-tube condenser with non-uniform air distribution and different tube types were actively carried out. In the area of industrial heat exchangers, researches on a plate heat exchanger type dehumidifier, fin-tube heat exchanger, an electric circuit transient analogy model in a vertical closed loop ground heat exchanger, heat transfer characteristics of a double skin window for plant factory, a regenerative heat exchanger depending on its porous structure, and various types of plate heat exchangers were performed. (3) In the field of refrigeration, various studies were executed to improve refrigeration system performance, and to evaluate the applicability of alternative refrigerants and new components. Various topics were presented in the area of refrigeration cycle. Research issues mainly focused on the enhancement of the system performance. In the alternative refrigerant area, studies on CO2, R32/R152a mixture, and R1234yf were performed. Studies on the design and performance analysis of various compressors and evaporator were executed. (4) In building mechanical system research fields, twenty-nine studies were conducted to achieve effective design of mechanical systems, and also to maximize the energy efficiency of buildings. The topics of the studies included heating and cooling, HVAC system, ventilation, renewable energy systems, and lighting systems in buildings. New designs and performance tests using numerical methods and experiments provide useful information and key data, which can improve the energy efficiency of buildings. (5) In the fields of the architectural environment, studies for various purposes, such as indoor environment, building energy, and renewable energy were performed. In particular, building energy-related researches and renewable energy systems have been mainly studied, reflecting interests in global climate change, and efforts to reduce building energy consumption by government and architectural specialists. In addition, many researches have been conducted regarding indoor environments.

The Effect of Interest Rate Variability on Housing Prices (이자율 변동이 주택가격에 미치는 영향)

  • Han, Myung-hoon
    • Journal of Venture Innovation
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    • v.5 no.3
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    • pp.71-80
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    • 2022
  • The real estate market is an important part of a country's economy and plays a major role in economic growth through the growth of many related industries. Changes in interest rates affect asset prices and have a significant impact on housing prices. This study analyzed housing prices by dividing them into nationwide, local, and Seoul housing prices in order to analyze whether the effect of changes in interest rates on housing prices shows regional differences. The analysis was conducted from the first quarter of 2011 to the fourth quarter of 2021, and was analyzed using the DOLS model. The main analysis results are as follows. First, interest rates were found to have a significant negative effect on national housing prices, and a drop in interest rates significantly increased national housing prices and an increase in interest rates significantly lowered national housing prices. The consumer price index and loan growth rate also had a positive effect on housing prices nationwide, but statistical significance was not high. Second, interest rates had a negative effect on local housing prices, unlike national housing prices, but were not statistically significant. On the other hand, it was found that the consumer price index and loan growth rate had a larger and significant positive effect on local housing prices compared to national housing prices. Finally, it was found that the interest rate had the only significant negative effect on housing prices in Seoul. And this effect was greater and more significant than the effect on national and local housing prices. In the end, it was found that the effect of interest rates on Korean housing prices differs locally. Interest rates have a significant negative effect on national housing prices, and local housing prices, but they are not statistically significant. In addition, the interest rate was found to have the largest and most significant negative effect on housing prices in Seoul. In addition, it was found that there was a difference in the effect of macroeconomic variables on housing prices. This means that there are differences between regions with different factors influencing local and Seoul housing prices, and this point should be considered when drafting and implementing real estate policies.

An Analysis of the Imported Consumer Goods Distribution Sector of Korea: From a Vertical Structure Viewpoint (수입소비재(輸入消費財) 유통구조(流通構造)의 효율화(效率化) 방안(方案))

  • Nam, Il-chong
    • KDI Journal of Economic Policy
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    • v.13 no.1
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    • pp.3-33
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    • 1991
  • Since the early 1980's, the Korean government has gradually been widening the Korean market to foreign consumer goods. This, combined with the increased purchasing power of the Korean consumers resulting from the continued economic growth of the country, has sparked a spectacular influx of foreign consumer goods into Korea, ranging from BMW's to chopsticks. Import of foreign consumer goods amounted to more than 6 billion dollars in 1989 and is continuing to grow at a rapid rate. The increased import of foreign consumer goods doubtlessly improved the overall welfare of the Korean consumers by providing them with a wider range of options to choose from, by lowering the prices of some of the consumer goods domestically produced, and also by forcing the producers of some Korean goods to face competition with better foreign goods, thus giving them an incentive to raise the quality of their products. However, it is agreed by most economists that this increase in general welfare has been much smaller than what they had expected at the outset. Consumer prices of most imported consumer goods are easily double the import price, and in some cases, more than treble the import prices. Further, there has not been a noticeable drop in the prices of domestically produced consumer goods. Much of the blame has been attributed to the distribution sector of Korea. The objective of this paper is to analyze the imported consumer goods distribution sector of Korea, focusing on the possible sources of the poor performance of that sector, and to make policy suggestions that could potentially increase the welfare. This paper differs from all the previous research by others on this subject in that it analyzes the imported consumer goods distribution sector of Korea as a vertical structure. The distribution sector of an imported consumer good is a vertical structure since it consists of an international market, an import stage, and domestic wholesale and retail markets, in that order vertically. Our study naturally includes the analysis of the vertical restraints as well as the analysis of the industrial organization of each horizontal stage in the vertical structure. Each horizontal component of the imported consumer goods distribution sector is basically a monopolistically competitive market differentiated by characteristics of goods and by the locations and the services of firms. Further, restrictive dealership and resale price maintenance are found to be widely in use. Our main findings are the follwing; First, most consumer goods are imported monopolistically or oligopolistically through restrictive dealership contracts between foreign producers and domestic importers. Such restrictive dealership gives importers market power in the domestic market and explains many of the large discrepancies betwen the consumer prices and the import prices of many goods. Korean anti - trust law does not cover the issues arising from the market power of an importer resulting from a restrictive dealership contract. Second, some major producers of Korean goods are also importers of foreign goods that are substitutes of their products. The import of substitutes by major domestic producers is anti - competitive because it tends to raise the prices of both domestic goods and foreign goods, and also because it reduces the incentive of the domestic producers to raise the quality of their products. Third, wholesalers and retailers widely use resale price maintenance as a price fixing mechanism, and while this is against the anti- trust law, it seldom gets noticed. Fourth, the high level of rents of real estate for commercial use works as an entry barrier to the distribution sector and results in reduced competition by the firms in that sector. Finally, there are information problems. Consumers have inferior information to firms about the quality of a foreign consumer good that they have not tried before. Such information asymmetry often enables firms to raise prices. In addition, information asymmetry between importers frequently delays the import of cheaper substitutes. In order to alleviate the problems indentified above, we suggest the following policy changes. The government should strengthen the anti - trust law and its enforcement to regulate restrictive import contracts, import of competing goods by major domestic producers, and RPM by wholesalers and retailers that is aimed at price fixing. In addition, the government should loosen its tight real estate policy to encourage investment in the distribution sector. Finally, we suggest that the import price revelation policy that has been in use for some items since 1990 be expanded to most imported consumer goods that are introduced for the first time to give consumer better information and be used only for the period of time needed to inform sufficient number of consumers.

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Preparation of Pure CO2 Standard Gas from Calcium Carbonate for Stable Isotope Analysis (탄산칼슘을 이용한 이산화탄소 안정동위원소 표준시료 제작에 대한 연구)

  • Park, Mi-Kyung;Park, Sunyoung;Kang, Dong-Jin;Li, Shanlan;Kim, Jae-Yeon;Jo, Chun Ok;Kim, Jooil;Kim, Kyung-Ryul
    • The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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    • v.18 no.1
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    • pp.40-46
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    • 2013
  • The isotope ratios of $^{13}C/^{12}C$ and $^{18}O/^{16}O$ for a sample in a mass spectrometer are measured relative to those of a pure $CO_2$ reference gas (i.e., laboratory working standard). Thus, the calibration of a laboratory working standard gas to the international isotope scales (Pee Dee Belemnite (PDB) for ${\delta}^{13}C$ and Vienna Standard Mean Ocean Water (V-SMOW) for ${\delta}^{18}O$) is essential for comparisons between data sets obtained by other groups on other mass spectrometers. However, one often finds difficulties in getting well-calibrated standard gases, because of their production time and high price. Additional difficulty is that fractionation processes can occur inside the gas cylinder most likely due to pressure drop in long-term use. Therefore, studies on laboratory production of pure $CO_2$ isotope standard gas from stable solid calcium carbonate standard materials, have been performed. For this study, we propose a method to extract pure $CO_2$ gas without isotope fractionation from a solid calcium carbonate material. The method is similar to that suggested by Coplen et al., (1983), but is better optimized particularly to make a large amount of pure $CO_2$ gas from calcium carbonate material. The $CaCO_3$ releases $CO_2$ in reaction with 100% pure phosphoric acid at $25^{\circ}C$ in a custom designed, evacuated reaction vessel. Here we introduce optimal procedure, reaction conditions, and samples/reactants size for calcium carbonate-phosphoric acid reaction and also provide the details for extracting, purifying and collecting $CO_2$ gas out of the reaction vessel. The measurements for ${\delta}^{18}O$ and ${\delta}^{13}C$ of $CO_2$ were performed at Seoul National University using a stable isotope ratio mass spectrometer (VG Isotech, SIRA Series II) operated in dual-inlet mode. The entire analysis precisions for ${\delta}^{18}O$ and ${\delta}^{13}C$ were evaluated based on the standard deviations of multiple measurements on 15 separate samples of purified $CO_2$. The pure $CO_2$ samples were taken from 100-mg aliquots of a solid calcium carbonate (Solenhofen-ori $CaCO_3$) during 8-day experimental period. The multiple measurements yielded the $1{\sigma}$ precisions of ${\pm}0.01$‰ for ${\delta}^{13}C$ and ${\pm}0.05$‰ for ${\delta}^{18}O$, comparable to the internal instrumental precisions of SIRA. Therefore, we conclude the method proposed in this study can serve as a way to produce an accurate secondary and/or laboratory $CO_2$ standard gas. We hope this study helps resolve difficulties in placing a laboratory working standard onto the international isotope scales and does make accurate comparisons with other data sets from other groups.