• Title/Summary/Keyword: Exchange rate changes

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A Model for Predicting the Effect of Increasing Air Temperature on the Net Photosynthetic Rate of Quercus mongolica Stands

  • Ihm, Byung-Sun;Lee, Jeom-Sook;Kim, Jong-Wook;Kim, Joon-Ho
    • Journal of Ecology and Environment
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    • v.30 no.1
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    • pp.1-7
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    • 2007
  • A model was developed to predict the effects of rising air temperature on net photosynthetic rate of Quercus mongolica stands at Mt. Paekcheok-san, Kangwon-do in South Korea. The PFD (Photon flux density) and air temperature were determined from weather data from the research site and the Daegwallyeong meteorological station and gas exchange or release responses of each tree component were measured. Using these data, we simulated the effects of increases in mean annual air temperatures above current conditions on annual $CO_2$ budget of Q. mongolica stands. If mean annual air temperature is increased by 0.5, 1.0, 1.5, 2.0, 2.5 or $3.0^{\circ}C$, annual net photosynthetic rate will be increased by 8.8, 12.8, 14.5, 12.6, 9.2 and 1.0 ton $CO_2\;ha^{-1}yr^{-1}$ respectively. Simulations indicate that changes in air temperature will have a major impact on gas exchange and release in Q. mongolica stands, resulting in a net increase in the rate of carbon fixation by standing crops.

A Study on Estimating Container Throughput in Korean Ports using Time Series Data

  • Kim, A-Rom;Lu, Jing
    • Journal of Navigation and Port Research
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    • v.40 no.2
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    • pp.57-65
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    • 2016
  • The port throughput situation has changed since the 2008 financial crisis in the US. Therefore, we studied the situation, accurately estimating port traffic of Korean port after the 2008 financial crisis. We ensured the proper port facilities in response to changes in port traffic. In the results of regression analysis, Korean GDP and the real effective exchange rate of Korean Won were found to increase the container throughput in Korean and Busan port, as well as trade volume with China. Also, the real effective exchange rate of Korean Won was found to increase the port transshipment cargo volume. Based on the ARIMA models, we forecasted port throughput and port transshipment cargo volume for the next six years (72 months), from 2015 to 2020. As a result, port throughput of Korean and Busan ports was forecasted by increasing annual the average from about 3.5% to 3.9%, and transshipment cargo volume was forecasted by increasing the annual average about 4.5%.

An Analysis of he Foreign Exchange Exposure and Determinants (개별기업의 환노출과 결정요인에 관한 연구)

  • Lee, Hyon-Sok
    • The Korean Journal of Financial Management
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    • v.21 no.2
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    • pp.65-98
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    • 2004
  • This paper analyzes the foreign exchange exposure and the influence of determinants on the significant exposure under various return horizons of US dollar and the Japanese yen. Also this research is extended to the existence of asymmetric exposures to foreign exchange risk. The exchange rate exposures exhibit significant time variations that are very large to represent changes in cash flow sensitivities, but the relation of the significant exposures and time variations is not monotonically increasing. The extent to which a firm is exposed to exchange rate fluctuations can be explained by the level of the growth potential, nm size and leverage. For the various return horizons, firms with a higher growth potential tend to have higher exposures. And the larger firms' exposures tend to be smaller. The influences of the level of export ratio and leverage vary with return horizons and each periods. It is found that the exposures of fins are asymmetric. The asymmetry is mainly explained by the market share hypothesis. The level of export ratio commonly influences the asymmetric exposures to the US dollar and the Japanese yen.

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An NMR Study on Complexation of Cesium Ion by p-tert-Butylcalix[6]arene Ethyl Ester

  • Chung, Kee-Choo;Namgoong, Hyun;Lee, Jo-Woong
    • Bulletin of the Korean Chemical Society
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    • v.25 no.5
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    • pp.609-616
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    • 2004
  • Complexation of cesium ion by p-tert-butylcalix[6]arene ethyl ester was studied by NMR spectroscopy in nonpolar $CDCl_3$ and polar acetone-$d_6$ and the results were compared with each other. Analysis of temperature dependent $^1H$ spectra and titration curves reveals that both solvents result in a 1 : 1 cone-form complex with nonpolar $CDCl_3$yielding a more tightly bound one than acetone-$d_6$. Unexpectedly, at very low temperature, we have found that two phenyl ring proton peaks of equal intensity appear both in $CDCl_3$and in acetone-$d_6$ solution which gradually collapse and eventually coalesce into a single line as temperature is raised. This observation could be interpreted in terms of the chemical exchange through direct and/or indirect interconversion between two equivalent conformations possible the complex in both solvents over the temperature range observed. And broadening of $^{133}Cs$ (I = 7/2) nmr line with increasing temperature has also been observed, indicating the exchange of $^{133}Cs$ ion between the complex and the solvent. From numerical fitting of lineshape changes for one-dimensional $^1H$ and $^{133}Cs$ spectra, the exchange rate constants and other relevant parameters for this conformational interconversion and the complex-solvent exchange were deduced.

A Study on the Impact of China's Trade-related Policy Changes on Export Performance of Korean Manufacturing Companies in China (중국의 무역관련 정책 변화가 현지 진출 한국계 기업의 수출성과에 미치는 영향에 관한 연구)

  • Hong, Jae-Sung;Lee, Yong-Keun
    • International Commerce and Information Review
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    • v.16 no.1
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    • pp.69-88
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    • 2014
  • According to the previous study, after 2000s, factors of the Chinese government's trade policy changes would be a significant burden on the company. However, many previous studies were limited to the response strategy by judicial analysis. Therefore, this study aims to analyze the factors that affect the export performance of Korean manufacturing companies in China. Also, by using that result, I would like to provide advises for entered the korean companies in Chinese market As the results, I knew that export performance are most heavily influenced by labor policy factor and the fallowing is exchange rate policy factor. Eventually, Most of our country companies entering in china were affected changes in the exchange rate policy factor, but many company were manufacturing-type businesses to economize labor costs. Therefore, corporate and governmental response strategies are needed for that's companies.

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Changes in Profitability of a Double Cropping using the Carbon Fixation Method (탄소고정방식을 활용한 농작물 이모작의 수익성 변화)

  • Mo, Tae-Jun;Kim, Brian H.S.
    • Journal of Korean Society of Rural Planning
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    • v.26 no.2
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    • pp.61-70
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    • 2020
  • The purpose of this study is to calculate the annual carbon reduction of crops according to the carbon fixation method of agricultural land, therefore to analyze whether the economic inducement of farmers to switch from single cropping to double cropping if the amount of carbon reduction were traded on the Korea Exchange. The analysis targets were Gyeonggi Province, which was divided into four areas to compare the difference between agricultural income and carbon income by crop and cropping system. Agricultural profit was estimated by multiplying the prior data of 2012 by the change rate of the consumer price index, and carbon income was calculated through the carbon reduction for each crop and the average transaction price of KAU19 traded on the Korea Exchange. According to the analysis, the profit rate of double cropping in all areas is -110.4% to 23% compared to single cropping, when only agricultural profit is taken into account, with no economic inducement for farmers to change the cropping system. However, when carbon income is taken into account together, the profit rate of double cropping rises significantly from 122.5% to 238.9% over a single operation in all areas, resulting in an economic inducement to switch the cropping system. This research is meaningful in that farming households could raise their income by additional carbon income, and that carbon credits could be supplied at Korea Exchange to further boost the carbon emission exchange.

A System Dynamics Simulation on KIKO Derivatives and its Implications from International Trade (국제통상에서 KIKO 파생금융상품과 그 영향에 대한 시스템 다이내믹스 시뮬레이션)

  • Eom, Jae-Gun;Chung, Chang-Kwon
    • Korean System Dynamics Review
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    • v.15 no.4
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    • pp.5-28
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    • 2014
  • Derivatives can be easily bought by those companies that need to hedge foreign currency debt or foreign currency assets through the financial market, considering their exchange rate exposure from international trade. The derivatives market has been growing rapidly due to the needs for investment and hedging. To manage foreign exchange risk, companies hedge risks through financial derivatives. According to our study, hedging is an effective way to mitigate the impact of exposure to exchange risk, as long as companies are only hedging underlying assets. Yet, covetous attitude toward the profit from derivatives and unexpected changes in exchange rate can cause problems for companies. This study analyzed the structural risks of derivatives with analysis of system dynamics. In particular, many companies suffered substantial loss due to KIKO during the economic crisis. We explained the problem therein through dynamic analysis. In addition, we revealed the structural problem that could cause a sudden spike in losses through simulations.

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Effect of Curing and Compression Process on the Drug Release of Coated Ion-Exchange Resin Complexes

  • Jeong, Seong-Hoon;Wang, Hun-Sik;Koo, Ja-Seong;Choi, Eun-Joo;Park, Ki-Nam
    • Journal of Pharmaceutical Investigation
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    • v.41 no.2
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    • pp.67-73
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    • 2011
  • Ion exchange resins can be one of the good carriers for sustained drug release. However, the sustained release may not be enough only with themselves and hence film coating with rate controlling polymers can be applied to have a further effect on the drug release. Due to the environmental and economic issues of organic solvent for the polymer coating, aqueous polymeric systems were selected to develop dosage forms. Among the many aqueous polymeric dispersions for the film coating, EC (ethylcellulose) based polymers such as Aquacoat$^{(R)}$ ECD and Surelease$^{(R)}$ were evaluated.A fluid-bed coating was applied as a processing method. The drug release rate was quite dependent on the coating level so the release rate could be modified easily by changing different levels of the coating. The drug release rate in the Aquacoat$^{(R)}$ coated resin particles was strongly dependent on curing, which is a thermal treatment to make homogeneous films and circumvent drug release changes during storage. After dissolution test using the compressed tablets in which the coated resin particles are contained, inhomogeneous coating and even pores could be observed showing that the mechanical properties of EC were not resistant to granulation and compaction process. However, when tablets were prepared in different batches, the release profiles were almost identical showing the feasibility of the coated resin particle as incorporated into the tablet formulation.

Temperature dependent hydrogen exchange study of DNA duplexes containing binding sites for Arabidopsis TCP transcription factors

  • Kim, Hee-Eun;Choi, Yong-Geun;Lee, Ae-Ree;Seo, Yeo-Jin;Kwon, Mun-Young;Lee, Joon-Hwa
    • Journal of the Korean Magnetic Resonance Society
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    • v.18 no.2
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    • pp.52-57
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    • 2014
  • The TCP domain is a DNA-binding domain present in plant transcription factors and plays important roles in various biological functions. The hydrogen exchange rate constants of the imino protons were determined for the three DNA duplexes containing the DNA-binding sites for the TCP11, TCP15, and TCP20 transcription factors using NMR spectroscopy. The M11 duplex displays unique hydrogen exchange property of the five base pairs in the first binding site (5'-GTGGG-3'). However, the M15 and M20 duplexes lead to clear changes in thermal stabilities of these five base pairs. The unique dynamic features of the five base pairs in the first binding site might play crucial roles in the sequence-specific DNA binding of the class I TCP transcription factors.

The Effects of the Changes of Economic Variables on the Import Container Volume of Gwangyang Port (경제변수의 변동이 광양항 수입컨테이너 물동량에 미치는 효과)

  • Mo, Soo-Won
    • Journal of Korea Port Economic Association
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    • v.25 no.3
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    • pp.269-282
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    • 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.

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