• 무역상무연구
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• 제38권
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• pp.377-408
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• 2008

Globalization of R&D activities of multinational firms is becoming important in compared with the past, because of increasing globalization of world economy. So, every country tries to attract foreign investment including R&D activities. In this paper, effects of several factors, which determine the scale of foreign subsidiary's R&D activities in local market, are analyzed. Through the review of previous literature, I found that three groups of determinant factors. The first one is the factor which is related to characteristics of local market, such as competitive situation of local market, accessability to research institutions, etc. The second group is the factor which is related to relationship between foreign subsidiary and its mother company. The dominant factors of this group are operation strategy of foreign subsidiary, competitiveness of mother firm, and equity structure of foreign subsidiary. Finally the characteristics of industry affect to the scale of foreign subsidiary's R&D activities. Among these factors, 6 factors are chosen to investigate empirically. For the empirical investigation, 107 foreign subsidiaries among KOITA(Korea Industrial Technology Association)'s list are chosen. Each subsidiary has more than 50% of foreign equity and implement R&D activities in Korea. The results show that sales volume of foreign subsidiary is dominant influencing factor in determining scale of R&D activities in Korean market. And also I found that currently established firms are implementing more R&D activities than old established firms. This is quite interesting finding. However, R&D activities of foreign subsidiary are not vitalized in Korean market. It probably means that Korean government and Korean business partners have to make effort to enhance foreign firms/ R&D activities, because it could contribute technological and economic development of Korean market.

• 동아시아경상학회지
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• 제6권3호
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• pp.1-15
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• 2018

Purpose - This study investigates the effect of MNEs' characteristics on the use of foreign currency denominated debt in the context of Korean firms. This study examines the relationship between MNEs and the use of foreign debt focusing on the accessibility to the capital market in addition to the motive of hedging against foreign exchange exposure. Research design and methodology - Probit estimation is employed for estimating significant factors in determination of the use of foreign debt by firms. The dependent variable is a dummy variable to indicate whether a firm uses foreign debt or not at the end of 2004. Independent variables include foreign subsidiaries ratio, export to sale, R&D expenditure to sale, and credit rating. Results - The results show that the interaction between the level of internationalization represented by intra-regional diversification and the strategic characteristics embedded in the region of entry affects the use of foreign debt. In case of a high level of diversification within the developing region with a strong pursuit of asset exploitation, MNEs are more likely to use foreign debt, whereas a high level of diversification within the developed region with a strong pursuit of asset seeking, MNEs are less likely to use foreign debt. Conclusions - The differences between MNEs in terms of intra-regional diversification, strategic orientation, and the accessibility to capital markets as well as the hedging motive affect the use of foreign debt.

• 한국중재학회지:중재연구
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• 제30권2호
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• pp.69-90
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• 2020

The arbitration system has many advantages, including resilience, speed, ease of approval, and enforcement of foreign arbitration in international disputes, and it plays an important role in today's international business. As the world's economic activities increase, China's trade disputes are intensifying. In 2017, China emphasized the international cooperation and commercial expansion of foreign investment at "One Belt, One Road." Therefore, it is expected that international business will become more active, with the issue of how to recognize and enforce the foreign arbitration awards in China becoming highly important. In addition, South Korea and China maintained deep trade relations after establishing diplomatic relations in 1992 and concluding the Korea-China Free Trade Agreement, which will inevitably increase trade disputes. As far as South Korea is concerned, China is South Korea's largest trading partner, so it is important for South Korea to analyze how foreign arbitration awards are recognized and enforced in China. China's accession to the New York Convention in 1987 was the beginning of the enforcement of foreign arbitrators. However, since China has begun to recognize and enforce foreign arbitrators relatively late, there are many problems in terms of recognizing and enforcing foreign arbitral awards in China. This study introduces the concept and scope of foreign arbitral awards, as well as the legal basis and procedures for recognizing and enforcing foreign arbitral awards, and examines relevant cases and the denial of recognition and enforcement of a foreign arbitration award. In the end, some issues and remedies for the recognition and enforcement of the foreign arbitral awards system in China were concluded.

• 산업경영시스템학회지
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• 제21권48호
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• pp.133-144
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• 1998

International capital movement has made progress at global liberalization of finance and foreign exchange, international monetary norm changing into floating exchange rate system, easiness of collection of information and trade at improvement of information communication technology from early of 1970's. Results of empirical test for relation between foreign exchange rate or various determination factors of foreign exchange rate and interest rate are followed by next sentences. First, according to relation between foreign exchange rate and interest rate, correlation for each of variables after OECD entrance is increased. But, long-term & short-term interest rate is affected by Hanbo & Kia's bankruptcy, continuous large scale corporates bankruptcy and crisis of foreign exchange. Therefore, financial instability is occured. If portfolio investment fund has been inflow as it is mollified by continuous shortage of foreign exchange and fall of country's credit rating, it is expected to have positive effect for long-term & short-term interest rate from appreciation of won against dollar. Second, results from relation between determination factor of foreign exchange rate and interest rate are followed by next sentences. If surplus of current account and goods account is continued, yield of corporate bond is to be stable. But, margin of surplus is expected to diminish after second quarter 98, and difference between external and domestic interest (after adjusting foreign exchange rate) is to be diminished. And if net inflows of foreign investor's fund (stock and bond) is diminished, it is to have negative effect for yield of corporate bond. According to foreign investor's investment movement of previous years, hedge fund were stayed at least during two years in Mexico. It means that sudden capital outflow is not to be happened at Korea. But if external factors from depreciation of yen and China's renminbi are instable, interest rate is expected to increase from capital's outflows. Third, if it is to decrease instability of foreign exchange rate from increase in surplus of future current account, credit rating's upwardness, stability of yen and renminbi, foreign exchange rate is expected to be stable. It is expected to have continuous stability from short-term interest rate to long-term interest rate in this empirical test.

• 한국임상수의학회지
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• 제28권1호
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• pp.163-172
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• 2011

Subcutaneous foreign body causes recurrent problems such as chronic soft tissue swelling and discharge. Wooden foreign body is one of the most common foreign bodies found in subcutaneous region including face, interdigit, and thoracic or abdominal area. This report demonstrated three dogs with wooden foreign body located in subcutaneous region of thoracic wall, abdominal wall and upper eyelid, respectively. Three dogs showed prominent soft tissue swelling adjacent the foreign body. A sinus or drainage tract was developed in two of these dogs. Ultrasonography revealed that hyperechoic linear structure accompanied acoustic shadow in all dogs, and which was diagnosed as a subcutaneous foreign body. Anechoic or hyperechoic fluid and hypoechoic tissue circumscribed the foreign body. A subcutaneous foreign body in case 3 was removed by clamp under ultrasound-guide with sedation. Sinography was performed in case 1 and clarified that the wooden foreign body did not perforate the thoracic wall and there was no direct communication into thoracic cavity. Ultrasonography and sinography can be used to identify the subcutaneous foreign body and evaluate the inflammatory reaction and relationship between foreign body and adjacent structures.

• 대한안전경영과학회:학술대회논문집
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• 대한안전경영과학회 2002년도 추계학술대회
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• pp.305-319
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• 2002

International capital movement has made progress at global liberalization of finance and foreign exchange, international monetary norm changing into floating exchange rate system, easiness of collection of information and trade at improvement of information communication technology from early of 1970's. Results of empirical test for relation between foreign exchange rate or various determination factors of foreign exchange rate and interest rate are followed by next sentences. First, according to relation between foreign exchange rate and interest rate, correlation for each of variables after OECD entrance is increased. But, long-term ＆short-term interest rate is affected by Hanbo ＆ Kia's bankruptcy, continuous large scale coporates bankruptcy and crisis of foreign exchange. Therefore, financial instability is occured. If portfolio investment fund has been inflow as it is mollified by continuous shortage of foreign exchange and fall of country's credit rating, it is expected to have positive effect for long-term & short-term interest rate from appreciation of won against dollar. Second, results from relation between determination factor of foreign exchange rate and interest rate are followed by next sentences. If surplus of current account and goods account is continued, yield of corporate bond is to be stable. But, margin of surplus is expected to diminish after second quarter 98, and difference between external and domestic interest (after adjusting foreign exchange rate) is to be diminished. And if net inflows of foreign investor's fund (stock and bond) is diminished, it is to have negative effect for yield of corporate bond. According to foreign investor's investment movement of previous years, hedge md were stayed at least during two years in Mexico. It means that sudden capital outflow is not to be happened at Korea. But if external factors from depreciation of yen and China's renminbi are instable, interest rate is expected to increase from capital's outflows. Third, if it is to decrease instability of foreign exchange rate from increase in surplus of future current account, credit rating's upwardness, stability of yen and renminbi, foreign exchange rate is expected to be stable. It is expected to have continuous stability from short-term interest rate to long-term interest rate in this empirical test.

• Journal of Korea Trade
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• 제23권5호
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• pp.87-101
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• 2019

Purpose - This paper examines the effectiveness of the foreign exchange risk insurance system in the promotion of SME exports in Korea. The purpose of this study is to analyze the short-term and long-term responses of SME exports to foreign exchange risk insurance support policies. Based on these empirical studies, we would like to present some operational improvements to the operation of the foreign exchange risk insurance system. Design/methodology - In order to analyze the effect of exchange risk insurance on the exports of SMEs, a VAR model consisting of foreign exchange risk insurance underwriting values, export relative price, and domestic demand pressure, including export volume, was established. The study began with tests of the stationarity of time series data. The unit root tests showed that all concerned variables were non-stationary. Accordingly, the results of the cointegration test showed that the tested variables are not cointegrated. Finally, an impulse response function and variance decomposition analysis were conducted to analyze the impulse of foreign exchange risk insurance on exports of SMEs. Findings - As a result of estimating the VAR (1) model, foreign exchange risk insurance was found to be significant at a 1% significance level for SME' export promotion. In the impulse response analysis, SMEs' export response to the impulse of foreign exchange risk insurance showed that exports gradually increased until the third quarter, and then slowed down. However, the impulse did not disappear, and appeared continuously. Originality/value - This study analyzed the effect of foreign exchange insurance on exports of SMEs by applying the VAR model. In particular, this study is the first to analyze the short-term and long-term effects of foreign exchange risk insurance on exports of SMEs. The empirical evidence in the current study have a policy implication for the policy authority to support and promote the foreign exchange risk insurance in the effect of exchange rate volatility on Korea' export SMEs.

• 한국건축시공학회지
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• 제5권1호
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• pp.75-79
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• 2005

The Korean society faces a new issue of accepting foreign workers. Foreign labors in construction industry reached about 400,000 recently. Thus they have become one of the essential resources to fill up insufficient labor supplies in construction industry. And it is important how to manage foreign labors efficiently. However there are few studies focused on this subject. Purpose of this study is to research productivity of foreign labors in the domestic construction site. So investigate the value of foreign labors. Also this study forecast elements effect on foreign labors productivity in the construction industry. And research what element is more important to improve productivity and what element is more difficult to manage. In the result, this study is expected to prospect effective method of foreign labor's management in the domestic construction industry, so contribute to utilize foreign labors more efficiently.

• 말소리와 음성과학
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• 제4권3호
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• pp.59-73
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• 2012

This study attempts to investigate the contribution of prosody to the foreign accent in Chinese speakers' English production by examining the synthesized speech of crossing native and non-native talkers' prosody and segments. For the stimuli of the foreign accent ratings, we transplanted gender-matched native speakers' prosody onto non-native talkers' segments and vice versa, utilizing the TD-PSOLA algorithm. Eight English native listeners participated in judging foreign accent and comprehensibility of the transplanted stimuli. Results showed that the synthesized stimuli were perceived as stronger foreign accent regardless of speakers' proficiency when English speakers' prosody was crossed with Chinese speakers' segments. This suggests that segments contribute more than prosody to native listeners' evaluation of foreign accent. When transplanted with English speakers' segments, Chinese speakers' prosody showed a difference in duration rather than pitch between high and low proficiency such that stronger foreign accent was detected when low proficient Chinese speakers' duration was crossed with English speakers' segments. This indicated that prosody, more specifically duration, plays a role though the prosodic role is not overall as significant as segments. According to the post acoustic analysis, the temporal features contributing to making the duration parameter prominent as opposed to pitch were found out to be speaking rate, pause duration and pause frequency. Finally, foreign accent and comprehensibility showed no significant correlation such that native listeners had no difficulty listening to highly foreign accented speech.

• Maxillofacial Plastic and Reconstructive Surgery
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• 제18권3호
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• pp.428-434
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• 1996

The practice of oral surgery or other dentistry possesses the danger of causing the loss of foreign bodies used within the oral cavity. If such foreign bodies would be lost, they could enter the viscera through the esophagus or tracheobroncheal tree. Ingestion is four times as frequent as aspiration and 80% to 90% of ingested foreign bodies will pass through the body spontaneously. Once the aspiration or ingestion of foreign bodies is happened, a dental procedure should be discontinued immediately. If symptoms of respiratory distress, including coughing, wheezing, or stridor, are present, a patent airway should be maintained, oxygen administered, and ventilation supported if necessary. The PA chest radiograph will identify the objects in the lung, esophagus, or stomach. Ingested gastrointestinal foreign bodies may be managed by observation, endoscopy, and or surgical intervention and aspirated tracheobroncheal foreign bodies may be managed by bronchoscopy, and or surgical intervention. This case report describes the management of ingested or aspirated foreign bodies happened to the three patients during intraoral treatment. we recommend that the preventive method of ingestion or aspiration of the dental foreign bodies should be performed prior to intraoral treatment and the immedieate measures should be carried out after ingestion or asipiration of it.