• The Korean Journal of Applied Statistics
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• v.24 no.1
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• pp.103-114
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• 2011

Current series for testing stock market cointegrations tend to be restricted to analyzing the relations between stock market prices and may not be able to understand the whole picture of the variations in the stock market system. The nature of the variations in the stock prices, between the countries that experienced economic crisis and those did not, are different for a certain period of time, and accordingly excluding the potentially important variables in the stock market system causes statistical bias. This study considers domestic foreign exchange markets and financial markets in testing for the cointegrating relations of the stock prices in Korea and major investing countries. The results demonstrate the possibility of specification errors unless those markets are included in the statistical modeling process.

• Proceedings of the Korean Institute of Interior Design Conference
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• 2006.05a
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• pp.179-182
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• 2006

Since the middle of 1990's, domestic apartment building suppliers have set up brand images to overcome the difficulties in financial situation after IMF foreign exchange crisis. The main trends in recent apartment buildings could be classified generally into several types, such as 'Ubiquitous Intelligent(standing for High-tech)', 'Walkable Community(community-friendly)', 'Eco-friendly', 'Ergonomic Humanity(Human Engineering)', 'e-easy Home through Internet(Digital Home)'. With those brand images, construction enterprises have been making inroads into local apartment markets, especially one of the region around Dae-gu. It is meaningful and worth researching and analyzing the local residents' preferences and tendencies to form marketing strategies of brand images. Here, this research and analysis is of pre-examination before getting down the study of this subject.

• The Research Journal of the Costume Culture
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• v.13 no.2 s.55
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• pp.221-239
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• 2005

The purpose of this study was to analyse the fashion style expressed in women magazine advertisements. The method of this study was used content analysis with 692 samples in women magazines ('Woman Sense', 'Yeosung Dong-A', and 'Jubu Saeng-hwal') which were issued in March, June, September, and December from 1998 to 2002. The data analysis were divided nine elements: 1. silhouette, 2. color, 3. pattern, 4. length of skirt & slacks, 5. adjustment, 6. breadth of collar lapel, 7. shoes, 8. make-up, 9. hair style. The results of this study were as follows: 1. silhouette : The four seasons were expressed in square silhouette. 2. Color : The spring, summer, and winter seasons were expressed in white color, while the fall season was expressed in neutral color. 3. Pattern : The four seasons were expressed in plain pattern. 4. Length of skirt & slacks : The four seasons were expressed in various length. 5. Adjustment : The four seasons were expressed in single button. 6. Breadth of collar lapel : The spring, summer, and winter seasons were expressed in small breadth, while the fall season was expressed in middle breadth. 7. Shoes : The four seasons were expressed in high-heeled shoes. 8. Make-up : The four seasons were expressed in light tone. 9. Hair style : The four seasons were expressed in up-style.

• Asia-Pacific Journal of Business
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• v.13 no.2
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• pp.123-138
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• 2022

Purpose - This study compares the performances of dynamic asset allocation strategies using Korean stocks and U.S. dollar, which have been negatively correlated for a long time, to examine the diversification effects in the portfolios of them. Design/methodology/approach - In the current study, we use KOSPI200 index, as a proxy of the aggregated portfolio of Korean stocks, and USDKRW foreign exchange rate to implement various portfolio management strategies. We consider the equally-weighted, risk-parity, minimum variance, most diversified, and growth optimal portfolios for comparison. Findings - We first find the enhancement of risk adjusted returns due to risk reduction rather than return increasement for all the portfolios of consideration. Second, the enhancement is more pronounced for the trading strategies using correlations as well as volatilities compared to those using volatilities only. Third, the diversification effect has become stronger after the global financial crisis in 2008. Lastly, we find that the performance of the growth optimal portfolio can be improved by utilizing the well-known momentum phenomenon in stock markets to select the length of the sample period to estimate the expected return. Research implications or Originality - This study shows the potential benefits of adding the U.S. dollar to the portfolios of Korean stocks. The current study is the first to investigate the portfolio of Korean stocks and U.S. dollar from investment perspective.

• The Korean Journal of Financial Management
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• v.21 no.2
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• pp.153-181
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• 2004

This study is to explore whether the relationship among financial markets changed according to financial development. For this study, data analysis was conducted through analytic methods incorporated structural breaks such as Zivot and Andrews'(1992) unit root test Gregory and Hansen's(1996a,b) cointegration test, etc. In study results, it was found that dynamic relationship between stock price and interest rate was changed from negative to positive after the structural break(Oct 1999). It may be resulted from the fact that asset substitutability between stock and bond was increased since stock investment became popularized The negative relationship between stock price and exchange rate was reinforced after the structural break(the foreign currency crisis). Also, the negative relationship between interest rate and exchange rate was strengthened after the structural break(Oct. 1999).

• Korean Journal of Agricultural Science
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• v.39 no.4
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• pp.491-496
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• 2012

Vegetable seeds are one of the most important key factors to determine the way of vegetable's production, distribution, processing and storage. Unfortunately, because of international exchange crisis in 1997, the most of main Korean seed companies were merged into foreign capitals. Currently, many domestic seed companies are incapable of their own survey and development of vegetable seed markets in foreign countries. To provide valuable seed market information for these companies, China, especially Yunnan and Guangdong provinces in China, was selected. Since China is one of the major vegetable seed importers. Also, Yunnan and Guangdong provinces are the most promising targets to export Korean vegetable seeds. The current status of vegetable production in China was analyzed with consideration of Yunnan and Guangdong provinces. The contents of survey and analysis are covering major vegetable crops' cultivation area, farm number, cultivation type, production amount, market price, farm income, packaging method, distribution type and amount of seed consumption. And particularly, major horticultural characteristics of leading varieties were presented to assist the development of exportable varieties of domestic seed companies. We assume the results of this study would be practically usable for the development of exportable varieties.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.10
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• pp.4359-4368
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• 2011

Among several macroeconomic missteps blamed for the recent global financial crisis including the social problems of income distribution and the lack of proper financial remedies, two of them have received particular attention: the global BOP(Balance of Payment) imbalance and the misguided monetary policy. Such BOP imbalance was blamed for massive foreign exchange investment flows from Asia into the U.S., triggering the financial and real estate bubble in America. The latter refers to the excessively loose monetary policy of the U.S. Federal Reserve, which pushed financial institutions and households into reckless investment behavior in search of higher returns. Given the abuse of certain innovative financial techniques and new investment instruments that have been created in recent decades, both collateralized debt obligations (CDOs) and credit default swaps (CDS) enjoyed a symbiotic and toxic relationship prior to the financial crisis This paper is organized as follows: The first section analyzes the real causes of the recent financial crisis. The second details the role of CDOs and CDS. Then, to identify key determinants of the CDS spreads in an emerging capital market, the sample data of major Korean firms' CDS spreads are used to estimate the risk premium by utilizing the multiple regression analysis. The empirical test result indicates that Korean 3-year treasury bond rate(TYIELD), market to book value ratio(MV/BV), and assets size(INASSETS) are shown to demonstrate statistically significant influences on the changes of the CDS premium for sample firms.

• Survey Research
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• v.9 no.3
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• pp.1-21
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• 2008

The housing market in Korea had mainly consisted of Maemae(purchasing market) and Chonsei(rental market). Since 1997 foreign exchange crisis, the rental housing market has experienced substantial changes in preferred rental contracts between Chonsei and monthly-rent. Even though monthly-rent has taken a substantial portion of housing rental contracts, not yet reliable monthly-rent index has been developed. Furthermore, it isn't obvious to define monthly-rent because there are many types of monthly rent structures from full-monthly-rent to monthly-rent-with-variable-deposit. This study is the basic research of developing a housing price index of monthly-rent in accordance with the existing price index of Maemae and Chonsei in Korea. This research has been carried out with the following contents: (1) Constructing the actually desirable concept of monthly-rent through examining monthly-rental market in Korea. (2) Selecting the reasonable method to investigate monthly-rental market, especially monthly-rent-with-variable -deposit. (3) Designing monthly-rental market samples and calculating the price index of monthly-rent based on 2005 Census.

• Korean System Dynamics Review
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• v.4 no.2
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• pp.153-171
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• 2003

In this study, we tried to build a model which can deal with the efficient and effective operation of electric power industry, especially focused on the nuclear industry. Here, SD(system Dynamics) approach is used to visualize the underlying phenomenon of the nuclear power industry. SD is a methodology for studying and managing complex feedback systems, such as one finds in business and other social systems, The span of SD applications has grown extensively and now encompasses work in corporate planning and policy design, public management and policy, biological and medical modeling, energy and the environment. Recently, according to the report from KEPCO(Korea Electric Power Corporation), they are considering delaying a new power plant construction. It may be based upon business fluctuation downsized from Korean economic crisis in 1997 and freezing of construction funds due to unstable foreign exchange rate. At this point, we need desperately a kind of strategic model that would contribute to cope with the current business situation, energy generation, Production, and resulting Pollution. Specifically, this model, using SD approach, starts with the detailed drawing of influence diagram, which describes those relevant key points on nuclear power generation systems in electric power industry of Korea. These include such (actors as the operation of nuclear industry and parameters related to the decision making for business policy. Based upon the above-mentioned influence diagram drawn, we developed SD simulation model to evaluate and analyze strategic management of KBPCO. Based on our analysis, we could demonstrate how simulation model can be applied to the real electric power generation in Korea.

• Journal of the Korean Operations Research and Management Science Society
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• v.26 no.2
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• pp.99-109
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• 2001

In this study, we tried to build a model which can deal with the efficient and effective operation of electric power industry, especially focused on the nuclear industry. Here, SD (System Dynamics) approach is used to visualize the underlying phenomenon of the nuclear power industry. SD is a methodology for studying and managing complex feedback systems, such as one finds in business and other social systems. The spend of SD applications has grown extensively and now encompasses work in corporate planning and policy design, public management and policy, biological and medical modeling, energy and the environment. Recently, according to the report from KEPCO (Korea Electric Power Corporation), they are considering delaying a new power plant construction. It may be based upon business fluctuation downsized from Korean economic crisis in 1997 and freezing of construction funds due to unstable foreign exchange rate. At this point, we need disparately a kind of strategic model that would contribute to cope with the current business situation, energy generation, production, and resulting pollution. Specifically, this model, using SD approach, starts with the detailed drawing of influence diagram, which describes those relevant key points on nuclear power generation systems in electric power industry of Korea. These include such factors as the operation of nuclear industry and parameters related to the decision making for business policy. Based upon the above-mentioned influence diagram drawn, we developed SD simulation model to evaluate and analyze strategic management of KEPCO. Based on our analysis, we could demonstrate how simulation model can be applied to the real electric power generation in Korea.