• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.7
• /
• pp.91-101
• /
• 2021

The paper examines the impact of the COVID-19 pandemic on the stock market prices. The vector autoregression model (VAR) has been used in this analysis to survey 341 stocks on the Ho Chi Minh City Stock Exchange (HOSE) for the period from January 23, 2020 to December 31, 2020. The empirical results obtained from the analysis of 11 economic sectors suggest that there is a statistically significant impact relationship between COVID-19 and the healthcare and utility industries. Additional findings show a statistically significant negative impact of COVID-19 on the utility share price at lag 1. Analysis of impulse response function (IRF) and forecast error variance decomposition (FEVD) show an inverse reaction of utility stock prices to the impact of COVID-19 and a gradual disappearing shock after two steps. Major findings show that there is a clear negative effect of the COVID-19 pandemic on share prices, and the daily increase in the number of confirmed cases, indicate that, in future disease outbreaks, early containment measures and positive responses are necessary conditions for governments and nations to protect stock markets from excessive depreciation. Utility stocks are among the most severely impacted shares on financial exchanges during a pandemic due to the high risk of immediate or irreversible closure of manufacturing lines and poor demand for basic amenities.

• The Journal of Fisheries Business Administration
• /
• v.51 no.4
• /
• pp.47-67
• /
• 2020

I explore that South Korea's major import fishery product markets-frozen hairtail, frozen mackerel, frozen pollock and frozen squid-are integrated by testing whether there is favorable evidence of the law of one price (LOP). Unlike previous studies on the LOP for fishery product markets, I assume non-zero import costs and include them in a trade model. To explore whether LOP holds for major import fishery product markets in South Korea with non-zero import costs, I utilize a non-linear time-series model, Smooth Transition Autoregressive (STAR) model with the sample periods from January in 2002 to December in 2019. I find that the behaviors of home-foreign price (i.e., import price) differentials of all four major import fishery products are non-linear depending on whether trade occurs and favorable evidence of LOP for each import market in South Korea. These findings indicate that each of South Korea's major import fishery product markets is integrated. They imply that the supply of each major import fishery product-frozen hairtail, frozen pollock, frozen mackerel and frozen squid, and their prices are stable even if there is an economic shock on each market. When it comes to trade policy implications, the Korean trade policy including tariffs or quotas against their import countries for the four major import fishery products may not have influences on their price in the markets.

• Proceedings of the Korean Society of Crop Science Conference
• /
• 2023.04a
• /
• pp.157-157
• /
• 2023

Pre-harvest sprouting (PHS) in rice (Oryza sativa L.) is one of the main problems associated with seed dormancy. PHS causes yield loss and reduction of grain quality under unpredictable humid conditions at the ripening stage, thus affecting the economic value of the rice crop. To resolve this issue, it is important to understand the molecular mechanism underlying seed dormancy in rice. Recent studies have shown that seed dormancy is affected by a large number of genes associated with plant hormones. However, the effect of heat stress on seed dormancy and plant hormones is not well understood. In this study, we compared the PHS rate as well as the transcriptome and small RNAome of the seed embryo and endosperm of two different accessions of rice, PHS-susceptible rice (low dormancy) and PHS-resistant rice (high dormancy) under three different maturation stages. We identified and verified the candidate genes associated with seed dormancy and heat stress-related responses in rice using quantitative real-time PCR. We newly discovered hormone-related genes, heat shock protein-related genes, and miRNAs potentially involved in PHS. These findings provide a foundation for understanding the dynamics of transcriptome and small RNAome of hormone- and heat stress-related genes, which affect PHS during seed maturation.

• Journal of the Economic Geographical Society of Korea
• /
• v.14 no.3
• /
• pp.286-306
• /
• 2011

Based on the announcement by the National Competitiveness Council in 2008, this study analyzed the direction of the changing policy in Seoul Metropolitan Area promoted by the current government and to inquire into such the effect, research was done to study the changes in space demand by companies which respond sensitively to changes in regulation in Seoul Metropolitan Area. In addition, the effect of Seoul Metropolitan Area policy on company location is explored while company location changes and changes in direction of space demand due to easing of regulation in Seoul Metropolitan Area by the current government are examined. Research methods utilized empirical analysis and survey analysis. Empirical analysis utilized statistical data since 1980's. For survey analysis, the effect of changing policy in Seoul Metropolitan Area, which is an exogenous shock, on decision making of the enterprise is considered to derive the direction of demand for company manufacturing lots. The results of the study showed that decision for company location or factory size has been affected greatly by Seoul Metropolitan Area policy and domain regulation and institution to restrict permission area of a manufacturing building from the law of improvement plan of the Metropolitan area were the biggest regulatory policies. Due to easing of regulation in Seoul Metropolitan Area by the current government, the demand for manufacturing lot is expected to increase. In particular, the demand for manufacturing lot is expected to increase centered around Seoul Metropolitan Area and Chungcheong province while demand is expected to decrease in Gangwon province. The reason is because company preference is high for the Seoul Metropolitan Area which has the best transportation/logistics and market conditions in Korea. But in the case of Southeast region and Daegyung region that form exclusive economic zones, changing policy in Seoul Metropolitan Area has little impact. In the case of Seoul Metropolitan Area, demand increase does not occur in the entire area but instead, demand is expected to increase in growth management zones.

• Journal of Korea Port Economic Association
• /
• v.25 no.3
• /
• pp.269-282
• /
• 2009

This study investigates the difference of behavioral patterns between the import container volume of all ports and that of Gwangyang port in Korea. All series span the period January 1999 to December 2008. I first test whether the series are stationary or not. I can reject the null hypothesis of a unit root in each of the level variables and of a unit root for the residuals from the cointegration at the 5 percent significance level. I hitherto make use of variance decompositions and impulse response functions, both of which have now been widely used to examine how much movement in one variable can be explained by innovations in different variables and how rapidly these fluctuations in one variable can be transmitted to another. The variance decompositions for the import container volume show that the proportions of the forecast error variance of import container volumes explained by themselves are 30 and 26 per cent after 12 months, respectively. As a result, innovations in exchange rate and business activity explain 70 and 74 per cent of the variance in the import container volume. All in all, innovation accounting indicates that import container volumes are not exogenous with respect to exchange rate and business activity. The impulse responses indicate that container volumes decrease sharply to the shocks in exchange rate and decay very slowly to its pre-shock level, while container volumes respond positively to the shocks in the business activity and disappear very slowly, showing that the shocks last very long. Furthermore Gwangyang port is more sensitive to the change of the exchange rate and the industrial production than all ports.

• Journal of Navigation and Port Research
• /
• v.42 no.6
• /
• pp.546-554
• /
• 2018

The Bulk market, unlike the line market, is characterized by stiff competition where certain ship or freight owners have no influence on freight rates. However, freights are subject to macroeconomic variables and economic external shock which should be considered in determining management or chartering decisions. According to the results analyzed by use of ARIMA Inventiom model, the impact of the financial crisis was found to have a very strong bearing on the BDI index. First, according to the results of the VEC model, the libor rate affects the BDI index negatively (-) while exchange rate affects the BDI index by positively (+). Secondly, according to the results of the VEC model's J ohanson test, the order ship volume affects the BDI index by negatively (-) while China's economic growth rate affects the BDI index by positively (+). This shows that the shipping company has moved away from the simple carrier and responded appropriately to changes in macroeconomic variables (economic fluctuations, interest rates and exchange rates). It is believed that the shipping companies should be more aggressive in its "trading" management strategy in order to prevent any unfortunate situation such as the Hanjin Shipping incident.

• Journal of Korean Society of Transportation
• /
• v.29 no.4
• /
• pp.7-15
• /
• 2011

Emerged in early 1990s, so called 'Quick service' industry that provides faster delivery of small parcels than regular mail service accelerated use of motorcycles. As the economic grows, use of large bicycles (more than 250CC displacement) for leisure purpose has also rapidly increased. Traffic crash data clearly shows the increasing trend in motorcycle crashes. The ratio of motorcycle involved crashes out of total has increased from 5.7% in 2005 to 8.3% in 2008, and similar trend can be found in fatalities ratio as well. In this study, we assess the level of risk when motorcycles operate on motorways by analyzing traffic rule violation ratio, lane change behaviour, driving speed behaviors of motorcycles in Uninterrupted Traffic Flow Facilities and using PC-CRASH simulation we also calculate car shock impulses occurred when an accident happens. Analysis result shows that the motorcycle is different from the car in terms of lane change timing and average speed, and also shows motorcycle drivers tends to conduct more improper driving behavior particularly when traffic is congested. The results from this study could be usefully applied when the law enforcement agent decides whether bicycles shall be allowed to use motorways. The result could be also utilized as fundamental information for further study of bicycles' driving behavior.

• Journal of the Korean Geographical Society
• /
• v.37 no.5
• /
• pp.480-497
• /
• 2002

This paper is concerned with unveiling the responsiveness of large Korean firms to external shock by examining corporate restructuring in terms of production and organization. Throughout empirical research, I speculate on how corporate restructuring influences and relates to corporate teaming and adaptation. The main findings of this research are as follows. First, the restructuring of business structure was expected to strengthen core competencies and improve profitability and the restructuring of organizational structure to make it possible for responding more quickly to radical changes in its business environment. Second, both downsizing and employment adjustment have assisted the firm with unlearning obsolete practices, preconditions necessary for effectively accomplishing new teaming practices. Third, both the spatial reorganization of production activities and process innovation require and involve learning processes. In conclusion, it claims that corporate restructuring can be seen as a powerful loaming tool, particularly in the context of radical economic change.

• Journal of the Korean Society for Precision Engineering
• /
• v.22 no.3 s.168
• /
• pp.115-122
• /
• 2005

As the digital TV markets rapidly growing, many manufacturers introduce large size flat screen TV units. There are two different display types available to large size models which are plasma and TFT-LCD. Since both are constructed with thin large panels that are mostly fragile to even moderate mechanical shock inputs. Some large size panels are severely resonated by the acoustic sound generated TV which deteriorates video quality. Recognizing the potential problems of large displays, accurate measurement of the panels is to be an essential task for the reliable design. Measurement of mechanical properties of a thin large crystallized panel such as TFT-LCD display with traditional material testing equipments is challenging. Since TFT-LCDs are constructed with combination of brittle glass panels, polymer sheets, and liquid crystal, their properties are not only anisotropic but also usually non-linear. Accurate measurement of the properties often requires very expensive facilities. Especially when the size of the test sample is as large as 40-inch or wider, direct measurement cost is prohibitive. Even worse, machining of the large TFT-LCD to make a smaller size specimen that could be fit into a material tester is not possible because of liquid crystal leakage. A new method fer the measurement of elastic modulus of large TFT-LCD panel is presented in this article. The suggested method provides a simple, economic, and user-friendly way fer measuring the elastic modulus of large panels with considerable level of accuracy.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
• /
• v.22 no.4
• /
• pp.78-84
• /
• 2008

Inundation of substation and ground power equipment broke out every summer season in low-lying downtown and low-lying shore by localized heavy rain, typhoon and tidal wave. In case inundation excluding the exchanging cost of equipment, it occurs a great economic and social loss owing to recovery time and events of electric shock occur by inundation electrical facility. So we researched the installation situation of substation and power equipment and inundation loss at Flood Danger Area. And we analyzed refutation or law relating to the flood protection counterplan of US, England Australia. We present flood protection countermeasures by survey and analyzing the internal standard and his paper will be used to resent a reform proposal of electrical feinted law about flood protection.