• Title/Summary/Keyword: Economic Conditions

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Development and Application of a Methodologyfor Climate Change Vulnerability Assessment-Sea Level Rise Impact ona Coastal City (기후변화 취약성 평가 방법론의 개발 및 적용 해수면 상승을 중심으로)

  • Yoo, Ga-Young;Park, Sung-Woo;Chung, Dong-Ki;Kang, Ho-Jeong;Hwang, Jin-Hwan
    • Journal of Environmental Policy
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    • v.9 no.2
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    • pp.185-205
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    • 2010
  • Climate change vulnerability assessment based on local conditions is a prerequisite for establishment of climate change adaptation policies. While some studies have developed a methodology for vulnerability assessment at the national level using statistical data, few attempts, whether domestic or overseas, have been made to develop methods for local vulnerability assessments that are easily applicable to a single city. Accordingly, the objective of this study was to develop a conceptual framework for climate change vulnerability, and then develop a general methodology for assessment at the regional level applied to a single coastal city, Mokpo, in Jeolla province, Korea. We followed the conceptual framework of climate change vulnerability proposed by the IPCC (1996) which consists of "climate exposure," "systemic sensitivity," and "systemic adaptive capacity." "Climate exposure" was designated as sea level rises of 1, 2, 3, 4, and 5 meter(s), allowing for a simple scenario for sea level rises. Should more complex forecasts of sea level rises be required later, the methodology developed herein can be easily scaled and transferred to other projects. Mokpo was chosen as a seaside city on the southwest coast of Korea, where all cities have experienced rising sea levels. Mokpo has experienced the largest sea level increases of all, and is a region where abnormal high tide events have become a significant threat; especially subsequent to the construction of an estuary dam and breakwaters. Sensitivity to sea level rises was measured by the percentage of flooded area for each administrative region within Mokpo evaluated via simulations using GIS techniques. Population density, particularly that of senior citizens, was also factored in. Adaptive capacity was considered from both the "hardware" and "software" aspects. "Hardware" adaptive capacity was incorporated by considering the presence (or lack thereof) of breakwaters and seawalls, as well as their height. "Software" adaptive capacity was measured using a survey method. The survey questionnaire included economic status, awareness of climate change impact and adaptation, governance, and policy, and was distributed to 75 governmental officials working for Mokpo. Vulnerability to sea level rises was assessed by subtracting adaptive capacity from the sensitivity index. Application of the methodology to Mokpo indicated vulnerability was high for seven out of 20 administrative districts. The results of our methodology provides significant policy implications for the development of climate change adaptation policy as follows: 1) regions with high priority for climate change adaptation measures can be selected through a correlation diagram between vulnerabilities and records of previous flood damage, and 2) after review of existing short, mid, and long-term plans or projects in high priority areas, appropriate adaptation measures can be taken as per this study. Future studies should focus on expanding analysis of climate change exposure from sea level rises to other adverse climate related events, including heat waves, torrential rain, and drought etc.

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Effects of microorganism density and mushroom yields according to the sterilization of casing soils at the cultivation of button mushrooms (복토살균 조건에 따른 양송이 재배과정별 복토내 미생물 밀도 및 수량 특성)

  • Lee, Chan-Jung;Yoo, Young-Mi;Jhune, Chang-Sung;Cheong, Jong-Chun;Moon, Ji-Won;Kong, Won-Sik;Suh, Jang-Sun;Kim, Yong-Gyun;Lee, Byung-Eui;Yoon, Min-Ho
    • Journal of Mushroom
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    • v.12 no.3
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    • pp.220-225
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    • 2014
  • This study was conducted to set the proper sterilization standards of casing soil for the stable production of button mushroom(Agaricus bisporus) from mushroom disease that occurs in infection of casing soil material. Changes of aerobic bacteria are increased as the longer grow-out period and sharply increased after second flushes. Fluorescence Psuedomonas showed high density at high sterilization temperature and $100^{\circ}C$ treatment has extremely high density at 30 min and 60 min in casing 22 days. Density of thermophilic actinomyces is sharply increase from casing with soil and the highest density at 22 days of casing and rapidly decrease after first flushes. Sterilizing temperature of casing soil affects quality and quantity of button mushroom. Treatment of 60 min, 90 min at $80^{\circ}C$ and 30 min at $100^{\circ}C$ produced the highest mushroom yields, especially mushrooms yields of A grads were the highest at treatment of 90 min at $80^{\circ}C$. Treatment of 60min at $100^{\circ}C$ products many yields, however, this treatment has low economic feasibility for its yields. Sterilizing temperature of casing soil has an effect on generating diseases and insect pests. Treatment of 60 min, 90 min at $80^{\circ}C$ and 30 min $100^{\circ}C$ showed lower incidence than the other treatment. Although treatment of 30 min at $100^{\circ}C$ causes low diseases and mushroom fly damage, it has low mushroom yields. Furthermore, although treatment of 60 min at $100^{\circ}C$ has high mushroom yields, it causes high diseases and mushroom fly damage. Therefore the best conditions for the sterilization of casing soils was 60 min and 90 min at $80^{\circ}C$.

Current Status and Prospects of Community Nutrition in Korea (한국 지역사회영양의 현황과 전망)

  • 채범석;한정호
    • Korean Journal of Community Nutrition
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    • v.1 no.1
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    • pp.9-27
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    • 1996
  • The nutritional status is strictly related with flood production, flood processing, and distribution along with habits, education and technological achievement, adapted and adjusted to socio-economic conditions. All these factors are independently affecting the nutritional status of populations. In addition to the above mentioned factors launch of it is useful to consider two points ; unification of the South and the North Korea and WTO. The present study gives and overview of basic knowledge about nutritional status of Korean by using availab1e data in relation to nutrition. The basic characteristics of Korean diet with proportions high in carbohydrate and low in fat, have been relatively constant for the past two decades. The average daily flood intake in terms of weight of flood per person is relatively constant throughout the years. Although the proportion of animal food intake tends to increase recently, the Korean diet is still insufficient in meat, eggs, milk, and fish. Moreover because milk has not been accustomed flood with the general population and not much used in traditional flood preparation in Korea, milk consumption was especially low in comparison with western countries. The total energy intake was relatively constant throughout the years from 1969 to 1993. However, changes in the composition have occurred in the past two decades. The amount and proportions of fat have been s1ightly increasing while the total amount of carbohydrate has been decreasing. The nutrition preblems of Korea have changed over the past severa1 decades. The general adequacy of protein and energy existing after Korean War(1950) was resolved now. Since then the average diet appears to be nearly desirable in terms of rapid rates of growth during childhood and attainment of progressively stature and body weight at maturity. The dietary habits of some young people in these days seem to be taking a more western style diets. This trends if established by habit may lead to a marked change in the traditional diet and health. I think Korean nutritional experiences have potential values for tole other countries in Asia and in western countries. Korean diet illustrates a high level of nutritional status and health attainable will a largely vegetable diet : high in complex carbohydrates, and dietary fibre, and low in tat, and reasonable amount of total protein. This is significant for developing and developed countries that must select specific goals fir adequate nutrition for the people. Compared to the western countries, Koreas different incidence of coronary heart disease and malignancy demonstrates the significance of environment and probably the prominent role of diet in the development of these diseases. The changes occurring in the Korean diet of fir the unusual opportunity to assess the effect of diet upon chronic degenerative disease. In the future, the Korean diet might be continue to change significantly These changes are being influenced by socioeconomic factors that have been emerging and growing stronger since mid-l980 and that probably continue to be potent. The expanded purchasing power of the consumer results in increased discretionary purchases. In the case of foodstuffs, the consumer demands appear to be directed toward items of higher protein content, which, being primarily animal products, are inevitably accompanied by an increased consumption of fat. The continued availability of these more expensive flood items depends upon the balance of foreign trade favouring their importation and domestic production. A regression of foreign trade could result in a decreased supply for the consumer, whereas continued growth of trade iou]d provide freedom for increasing availability to the consumer. In this latter situation the exact choice of foodstuffs is depending upon comsumer tastes and the pressures that may influence it.

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Demonstration and Operation of Pilot Plant for Short-circuit Nitrogen Process for Economic Treatment of High Concentration Nitrogen Wastewater (고농도 질소함유폐수의 경제적 처리를 위한 단축질소공정 파일럿플랜트 실증화 및 운영 결과)

  • Lee, Jae Myung;Jeon, Ji-hyeong;Choi, Hong-bok
    • Journal of the Korea Organic Resources Recycling Association
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    • v.28 no.1
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    • pp.53-64
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    • 2020
  • A 2㎥/d combined wastewater treatment pilot plant containing the multi-stage vertical stacking type nitrification reactor was installed and operated for more than 1 year under the operating conditions of the short-circuit nitrogen process (pH 8, DO 1mg/L and Internal return rate 4Q from nitrification to denitrification reactor). For economically the combination treatment of food wastewater and the leachate from a landfill, the optimal combination ratio was operated by adjusting the food wastewater with the minimum oil content to 5-25% of the total throughput. The main treatment efficiency of the three-phase centrifugal separator which was introduced to effectively separate solids and oil from the food wastewater was about 52% of SS from 116,000mg/L to 55,700mg/L, and about 48% of normal hexane (NH) from 53,200mg to 27,800 mg/L. During the operational period, the average removal efficiency in the combined wastewater treatment process of BOD was 99.3%, CODcr 94.2%, CODmn 90%, SS 70.1%, T-N 85.8%, and T-P 99.2%. The average concentrations of BOD, CODcr, T-N, and T-P of the treated water were all satisfied with the discharge quality standard for landfill leachate ("Na" region), and SS was satisfied after applying the membrane process. On-site leachate had a relatively high nitrite nitrogen content in the combined wastewater due to intermittent aeration of the equalization tanks and different monthly discharges. Nevertheless nitrite nitrogen was accumulated, denitrification from nitrite nitrogen was observed rather than denitrification after complete nitrification. The average input of anti-forming chemical during the operation period is about 2L/d, which seems to be economical compared to the input of methanol required to treat the same wastewater.

A Study on the Effects of the Characteristics of Franchise Business Members on Affiliate Outcomes (업종별 프랜차이즈 선택결정요인이 가맹점 성과의 만족도와 성공·실패에 미치는 영향연구)

  • Jang, Jae-Nam;Kang, Chang-Dong;Ahn, Sung-Sik
    • Journal of Distribution Science
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    • v.9 no.2
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    • pp.49-59
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    • 2011
  • A franchise can be said to be the main method of distribution and marketing. It appears to be the future of the retail industry and is one of the world's fastest growing businesses sectors, as many policy reports and research results have acknowledged. Korea's franchise industry began in the 1970s, spread out into many areas (including food services, retail, and the service industry), and has grown by over 10% each year ever since. The industry's influence on the national economy becomes ever greater. Although the size of the franchise industry is expected to grow as it spreads and as the government expands its support, it has not yet attracted much academic interest. Research has so far been very fragmented. The main interest has been the relationship and conflicts between the head offices and the affiliates. No study has yet occurred on whether the concepts of satisfaction and intent to conclude a contract directly affect the success or failure of the affiliates. Few studies have empirically inquired into the demographic characteristics and abilities of the affiliates that significantly affect their results. Domestic franchise industries must prepare to leap from quantitative to qualitative growth. Most important is the need for affiliate headquarters and affiliates to build confidence between them. A friendly and reliable relationship between affiliate headquarters and affiliates will eliminate distrust from the franchise and maintain a healthy franchise system. This study suggests that current and prospective heads of affiliation should concentrate not on attracting affiliates but on investment and techniques of affiliate support. They should work on the reinforcement of brand power, the appropriate affiliate business environment, systematic education/training, taking burdens off the affiliate business persons, consolidating the relationship with the affiliate business persons, marketing mix factors (e.g. products, price conditions, logistics and shipping services, promotion, supervising and supervisor, operation procedures/processes, and material evidence); these all greatly affect the success or failure of the affiliate business. Supporting the affiliates is an important factor that enhances their results and satisfaction and consequently increases the positive recommendations to others and the ratio of recurrent conclusions of contracts, which ultimately generate the growth of the franchises. In addition, it is suggested that prospective franchise founders should make every effort to choose a good head office since the characteristics of the head office greatly influence the success of the affiliates. This study is significant in that it grasps the characteristics of the head office of affiliation and of the affiliates that influence affiliate results in ways not yet academically attempted.

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An alternative way of Animation Industry : Focusing on Avatar sevice's Lock-in Effect (애니메이션 산업의 대안적 연구 - 아바타 서비스의 소비자 고착화(lock-in) 전략을 중심으로)

  • Han, Chang-Wan
    • Cartoon and Animation Studies
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    • s.6
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    • pp.152-171
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    • 2002
  • This study analyses the avatar service, which is recognized as an alternative strategy of animation industry. The research questions of this study are following: (1) How have the avatar services been developed and what are the present dominant types? (2) Which structural characteristics of e-business environment are needed for the success of avatar services? (3) What is the economic characteristics of avatar business model? To solve these research questions, the basic conditions and the structural characteristics of avatar services have been investigated. In the first place, two forms of avatar service are classified. One is the internet service site whole primary service is to provide chatting service based on avatar service. The other is the portal site in which many kinds of products and services are presented as bundles to meet the needs of internet users. So avatar service is one of bundles which those portal sites are providing with. In this study, the big five internet service sites are selected based on the profits they earned through the sales of avatar service. The result of analysis is that the pricing strategy of those big five sites is very different from those of traditional off-line markets. The pricing mechanism are based on the value which internet users endow with the avatar items, not based on the costs of making the products. Avatar is the representative informative goods. The informative goods have the original cost structures, constant fixed costs and zero marginal costs, so the providers of avatar services make much of the subjective values of consumers. The sayclub, which is the most successful avatar service site and earn the average sales of 3 billing won a month, takes the aggressive strategy of pricing avatar items at highest price in the industry. The avatar service providers which make lots of profits are planning of making differentiate the services, introducing well-known brand items and star-named items. Nevertheless, the fact that the members of the sayclub are not decreasing means that the network effect of the site is so strongly manifest. Moreover, the costs the members have paid for the avatar items are so big not as to switch from one site to the other site, it can be very costly. These switching costs are endemic in high-technology industries and digital contents industries. It can be so large that switching suppliers is virtually unthinkable, a situation known as 'lock-in'. When switching costs are substantial, competition can be intense to attract new customers, since, one they are locked in, they can be a substantial source of profit. The consumers of avatar items have switching costs if they subscribe for the new avatar service site. The switching costs can be subscription costs as well as the costs of giving up the items they already paid for. One common example of switching costs involves specialized supplies, as with inkjet printer cartridges. In this example, the switching cost is the purchase of a new printer. The market is competitive ex ante, but since cartridges are incompatible, it is monopolized dx post. So the providers of printer/cartridges set pricing printer so cheap and cartridges expensive. On the contrary, since the avatar service can be successful with the strong network effect, the providers of avatar services have to compete aggressively for new customers. So they allow the subscription at a low price(almost marginal cost) in the early market. The network effect can be maximized when the members are sufficiently growing. The providers which have the monopoly power with sufficient subscribers. begin to raise the prices over the lifetime of the product and make profits.

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An Analysis of the Locational Selection Factors of the Small- and Medium-sized Hospitals Using the AHP : Centered on the Spine and Joint Hospitals (AHP를 이용한 중·소 병원 입지선택요인 분석 : 척추·관절 병원중심으로)

  • Kim, Duck Ki;Shim, Gyo-Eon
    • The Journal of the Korea Contents Association
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    • v.18 no.5
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    • pp.191-214
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    • 2018
  • This research empirically analyzed the selection factors and the locational selection factors of the medical service facilities according to the gradual increase of the importance of the selection factors and the locational selection factors regarding the establishments of the small- and medium-sized hospitals according to the rapid changes of the socio-economic conditions. By analyzing the priority order according to the levels of the importance of each evaluation item factor through a research related to the selection factors and the locational selection factors of the small- and medium-sized hospitals and by drawing what the important factors that have the influences on the competitiveness of the pre-existent small- and medium-sized hospitals are through the classification of the real estate locational factors and the non-locational factors, the purpose lies in utilizing them as the basic data and materials for the opening strategies of the small- and medium-sized hospitals considering the special, locational characteristics according to the important factors of the selection factors of the small- and medium-sized hospitals, regarding the medical suppliers that have been preparing, for opening the new, small- and medium-sized hospitals. Based on the results of the preceding researches and the researches on the case examples, 28 evaluation factors were arrived at in terms of the level of the medical treatment, the medical services, the accessibilities of the hospitals, the conveniences of the hospitals, and the physical environment. And, regarding the 28 detailed evaluation factors that had been collected, through the interviews with the related experts, the 5 factors of the medical level, the medical service, the expertise of the hospital, the convenience of the hospital, and the physical environment were selected as the upper class evaluation factors. And, according to each upper class, a total of 28 low-part evaluation factors were selected. Regarding the optimal evaluation factors that were selected, the optimal locational factors were selected by carrying out an AHP questionnaire survey investigation with 200 medical experts as the subjects. Regarding the AHP analysis results, similarly with the case examples of the precedent researches, the levels of the importance appeared in the order of the medical level, the medical services, the accessibility of the hospital, the physical environment, and the convenience. And the factors that were related to the facilities of a hospital appeared low. The results of this research can be applied in providing the basis for the decision-makings regarding the selections of the locations of the small- and medium-sized hospitals in the future.

Analysis and Improvement Measures on the Status of the Installation and Operation of Facilities for Recycling Food Waste into Compost (음식물쓰레기 퇴비화시설의 설치 및 운영 현황분석 및 개선방안)

  • Ryu, Ji-Young;Kong, Kyu-Sik;Shin, Dae-Yewn;Phae, Chae-Gun
    • Journal of the Korea Organic Resources Recycling Association
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    • v.12 no.3
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    • pp.95-111
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    • 2004
  • This research sought to determine the status of the installation and operation of composting facilities of domestic public resource-making facilities and come up with corresponding improvement measures. The composting facilities were the most extensively installed of related facilities with over a 0.5 ton treated volume per day. The monthly and yearly carry-in volume of food waste were found to stand at 1,101.7 tons per day and 930.9 tons per day, thus falling short of the average planned volume of 1,270.9 tons. Many composting facilities, which were installed in areas for which factory registration were not approved, did not get approvals. Composting facilities underwent operation stoppage mainly due to faulty fermentation and crushing equipment. Mainly metals contained in food waste caused faults to the crushing equipment, thus requiring a facility designing against faults and corrosion. The initial water content was found to stand at 50-60%, thus complying with the requirement. However, since the composting food waste had an appropriate mixture of sawdust, food waste, and returned compost, it should meet the initial conditions. For fermentation facilities, the duration time for fermentation was 15 days, and post-fermentation tanks required 21 days of duration time, thus establishing the minimum criteria. However, some facilities did not meet the requirements, taking more time in decomposition, thus suggesting a need to determine the duration time according to facilities. In composting food waste, microorganism-based thermal oxidizer-operated fermentation tanks should be used to ensure an economic operation. On the contrary, 14 out of 25 survey targets heated fermentation tanks in any form. These thermal facilities contain the growth of bacteria, lowering chemical reaction in composting; thus composting facilities should be basically designed to use microorganism-based thermal oxidizers in drying water. An average daily volume of food waste and supplementary materials that was injected in producing compost was 22.8 tons. This volume produced 7.3 tons of compost per day, decreasing 68%. Properties of produced compost were analyzed by its color, absence or presence of remaining decomposition heat, and smell, to assess the quality. As a result, the composting process was not properly installed nor operated in about 50% of composting facilities. Compost should be produced to be soil-friendly.

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Technical Efficiency in Korea: Interindustry Determinants and Dynamic Stability (기술적(技術的) 효율성(效率性)의 결정요인(決定要因)과 동태적(動態的) 변화(變化))

  • Yoo, Seong-min
    • KDI Journal of Economic Policy
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    • v.12 no.4
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    • pp.21-46
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    • 1990
  • This paper, a sequel to Yoo and Lee (1990), attempts to investigate the interindustry determinants of technical efficiency in Korea's manufacturing industries, and also to conduct an exploratory analysis on the stability of technical efficiency over time. The hypotheses set forth in this paper are most found in the existing literature on technical efficiency. They are, however, revised and shed a new light upon, whenever possible, to accommodate any Korea-specific conditions. The set of regressors used in the cross-sectional analysis are chosen and the hypotheses are posed in such a way that our result can be made comparable to those of similar studies conducted for the U.S. and Japan by Caves and Barton (1990) and Uekusa and Torii (1987), respectively. It is interesting to observe a certain degree of similarity as well as differentiation between the cross-section evidence on Korea's manufacturing industries and that on the U.S. and Japanese industries. As for the similarities, we can find positive and significant effects on technical efficiency of relative size of production and the extent of specialization in production, and negative and significant effect of the variations in capital-labor ratio within industries. The curvature influence of concentration ratio on technical efficiency is also confirmed in the Korean case. There are differences, too. We cannot find any significant effects of capital vintage, R&D and foreign competition on technical efficiency, all of which were shown to be robust determinants of technical efficiency in the U.S. case. We note, however, that the variables measuring capital vintage effect, R&D and the degree of foreign competition in Korean markets are suspected to suffer from serious measurement errors incurred in data collection and/or conversion of industrial classification system into the KSIC (Korea Standard Industrial Classification) system. Thus, we are reluctant to accept the findings on the effects of these variables as definitive conclusions on Korea's industrial organization. Another finding that interests us is that the cross-industry evidence becomes consistently strong when we use the efficiency estimates based on gross output instead of value added, which provides us with an ex post empirical criterion to choose an output measure between the two in estimating the production frontier. We also conduct exploratory analyses on the stability of the estimates of technical efficiency in Korea's manufacturing industries. Though the method of testing stability employed in this paper is never a complete one, we cannot find strong evidence that our efficiency estimates are stable over time. The outcome is both surprising and disappointing. We can also show that the instability of technical efficiency over time is partly explained by the way we constructed our measures of technical efficiency. To the extent that our efficiency estimates depend on the shape of the empirical distribution of plants in the input-output space, any movements of the production frontier over time are not reflected in the estimates, and possibilities exist of associating a higher level of technical efficiency with a downward movement of the production frontier over time, and so on. Thus, we find that efficiency measures that take into account not only the distributional changes, but also the shifts of the production frontier over time, increase the extent of stability, and are more appropriate for use in a dynamic context. The remaining portion of the instability of technical efficiency over time is not explained satisfactorily in this paper, and future research should address this question.

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Limit Pricing by Noncooperative Oligopolists (과점산업(寡占産業)에서의 진입제한가격(進入制限價格))

  • Nam, Il-chong
    • KDI Journal of Economic Policy
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    • v.12 no.1
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    • pp.127-148
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    • 1990
  • A Milgrom-Roberts style signalling model of limit pricing is developed to analyze the possibility and the scope of limit pricing in general, noncooperative oligopolies. The model contains multiple incumbent firms facing a potential entrant and assumes an information asymmetry between incombents and the potential entrant about the market demand. There are two periods in the model. In period 1, n incumbent firms simultaneously and noncooperatively choose quantities. At the end of period 1, the potential entrant observes the market price and makes an entry decision. In period 2, depending on the entry decision of the entrant, n' or (n+1) firms choose quantities again before the game terminates. Since the choice of incumbent firms in period 1 depends on their information about demand, the market price in period 1 conveys information about the market demand. Thus, there is a systematic link between the market price and the profitability of entry. Using Bayes-Nash equilibrium as the solution concept, we find that there exist some demand conditions under which incumbent firms will limit price. In symmetric equilibria, incumbent firms each produce an output that is greater than the Cournot output and induce a price that is below the Cournot price. In doing so, each incumbent firm refrains from maximizing short-run profit and supplies a public good that is entry deterrence. The reason that entry is deterred by such a reduced price is that it conveys information about the demand of the industry that is unfavorable to the entrant. This establishes the possibility of limit pricing by noncooperative oligopolists in a setting that is fully rational, and also generalizes the result of Milgrom and Roberts to general oligopolies, confirming Bain's intuition. Limit pricing by incumbents explained above can be interpreted as a form of credible collusion in which each firm voluntarily deviates from myopic optimization in order to deter entry using their superior information. This type of implicit collusion differs from Folk-theorem type collusions in many ways and suggests that a collusion can be a credible one even in finite games as long as there is information asymmetry. Another important result is that as the number of incumbent firms approaches infinity, or as the industry approaches a competitive one, the probability that limit pricing occurs converges to zero and the probability of entry converges to that under complete information. This limit result confirms the intuition that as the number of agents sharing the same private information increases, the value of the private information decreases, and the probability that the information gets revealed increases. This limit result also supports the conventional belief that there is no entry problem in a competitive market. Considering the fact that limit pricing is generally believed to occur at an early stage of an industry and the fact that many industries in Korea are oligopolies in their infant stages, the theoretical results of this paper suggest that we should pay attention to the possibility of implicit collusion by incumbent firms aimed at deterring new entry using superior information. The long-term loss to the Korean economy from limit pricing can be very large if the industry in question is a part of the world market and the domestic potential entrant whose entry is deterred could .have developed into a competitor in the world market. In this case, the long-term loss to the Korean economy should include the lost opportunity in the world market in addition to the domestic long-run welfare loss.

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