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Studies on Development Policies for Regional Industry (지역산업 육성정책에 대한 고찰)

  • Kim, Dong-Soo;Lee, Doo-Hee;Kim, Kye-Hwan
    • Journal of the Economic Geographical Society of Korea
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    • v.14 no.4
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    • pp.467-485
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    • 2011
  • After Korean War, Korea focused on catching up with the world economy by concentrating on some target industries around the Capital Region and southern coastal cities. Thus, the regional disparity between Capital Region and non-Capital Regions increased drastically. At last, when Korea acquired full-fledged autonomy in 1994 in the Civilian government (1993-1998) and experienced the Asian financial crisis in 1997-1998, local governments were awakened to the notion of region-oriented development, especially for regional industrial development. The purposes of this paper are to introduce regional industrial development policies since 1998 and to suggest some recommendations in terms of how to adjust regional development for industrial policies in the future. In the introducing phase (Kim administration, 1998-2003), four provincial governments requested national funding to raise regional industries that are of strategic importance. At the same time, the central government recognized the need to nurture regional industries to overcome structural weaknesses. As a result, the Roh administration (2003-2008) gave a birth to a systematizing phase. As the ultimate regional policy objective, the balanced national development has been set and the Special Acts, Special Accounts, Committee, and National Plan have been established. Regional Industrial Promotion Project has been carried out very actively during this period. It had a good start albeit idealistic to a certain extent. Therefore, the current government has changed policy paradigm from balanced growth to regional competitiveness along with global paradigm shifts. In order to enhance regional competitiveness, regional development policies have been pursued in more efficient way. Leading Industry Nurturing Projects (LINPs) on Economic Region level, existed Regional Industrial Promotion Projects (RIPPs) on Province level, and Region Specific Industry Projects (RSIPs) on Local Area level have been implemented. Now, it is appropriate to review regional development policies including industrial policies since 1998 and to adjust them for the future sustainable regional development. Because LINPs and RIPPs will be terminated in next two years, the 2nd stage projects are on planning to reduce the redundancies in two projects. In addition, business support program would be reformed from subsiding technology development to building ecological business system. Finally some policy implications are provided in this paper, which is useful to establish the new regional industrial policies for both central and local government.

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Analysis on the Snow Cover Variations at Mt. Kilimanjaro Using Landsat Satellite Images (Landsat 위성영상을 이용한 킬리만자로 만년설 변화 분석)

  • Park, Sung-Hwan;Lee, Moung-Jin;Jung, Hyung-Sup
    • Korean Journal of Remote Sensing
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    • v.28 no.4
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    • pp.409-420
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    • 2012
  • Since the Industrial Revolution, CO2 levels have been increasing with climate change. In this study, Analyze time-series changes in snow cover quantitatively and predict the vanishing point of snow cover statistically using remote sensing. The study area is Mt. Kilimanjaro, Tanzania. 23 image data of Landsat-5 TM and Landsat-7 ETM+, spanning the 27 years from June 1984 to July 2011, were acquired. For this study, first, atmospheric correction was performed on each image using the COST atmospheric correction model. Second, the snow cover area was extracted using the NDSI (Normalized Difference Snow Index) algorithm. Third, the minimum height of snow cover was determined using SRTM DEM. Finally, the vanishing point of snow cover was predicted using the trend line of a linear function. Analysis was divided using a total of 23 images and 17 images during the dry season. Results show that snow cover area decreased by approximately $6.47km^2$ from $9.01km^2$ to $2.54km^2$, equivalent to a 73% reduction. The minimum height of snow cover increased by approximately 290 m, from 4,603 m to 4,893 m. Using the trend line result shows that the snow cover area decreased by approximately $0.342km^2$ in the dry season and $0.421km^2$ overall each year. In contrast, the annual increase in the minimum height of snow cover was approximately 9.848 m in the dry season and 11.251 m overall. Based on this analysis of vanishing point, there will be no snow cover 2020 at 95% confidence interval. This study can be used to monitor global climate change by providing the change in snow cover area and reference data when studying this area or similar areas in future research.

A Study on the ROK Army Leadership for promoting Jointness (합동성 증진을 위한 한국군 리더십 연구)

  • Jin, Jae-Yeoul
    • Korea and Global Affairs
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    • v.1 no.2
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    • pp.209-242
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    • 2017
  • The purpose of this study is to contribute to enhancing spiritual combat power as the core of intangible combat power in Korean armed forces through analyses and suggestions on Admiral Yi Sun-sin's leadership for four major sweeping victories based upon jointness which effectively integrates tangible and intangible combat power in armed forces to maximize the synergy of fighting power. As our armed forces has improved their military structure in the dimension of hardwares so as to enhance their efficiency, according to the results of analyzing the process to promote the jointness between our armed forces and our allied powers in the dimension of softwares supporting such hardware dimensions, it was necessary to innovate the system for reinforcing future-oriented spiritual combat power as well as all the tasks related to leadership as the core of intangible combat power jointly and harmoniously. In order to derive tasks about the leadership of Korean armed forces in the dimension of softwares which should be combined with military structural reform for strengthening spiritual combat power for national defense, this study selected research questions linked with jointness. That is, (1) what is the core of military leadership in Western advanced countries in the age of jointness? (2) What are the contemporary illuminations or implications of Korean leaderships through Admiral Yi Sun-sin's war history? Then, this study analyzed literature reviews, this author's field interviews in the time of war participation, and leadership war history focusing on Admiral Yi Sun-sin's leadership for four major sweeping victories. According to the results of these analyses, this study extracted (1) the strategic leadership to predict and prepare the future, (2) the leadership of integration to create synergy effects, and (3) the leadership of knowledge to be practiced focusing on combats. In addition, in order to reinforce spiritual combat power based upon jointness, (1) it is necessary to precede in-depth and substantial leadership diagnosis for enhancing jointness. (2) It is necessary to embody national defense reform as well as integration for jointness improvement after scientifically comparing and analyzing the differentiation and integration between the Ministry of National Defense, army-navy-air force leadership centers, and PKO centers. (3) It is necessary to promote the merger and abolition between institutions related to intangibale combat power under the Ministry of National Defense.

A Comparative Study on Failure Pprediction Models for Small and Medium Manufacturing Company (중소제조기업의 부실예측모형 비교연구)

  • Hwangbo, Yun;Moon, Jong Geon
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.11 no.3
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    • pp.1-15
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    • 2016
  • This study has analyzed predication capabilities leveraging multi-variate model, logistic regression model, and artificial neural network model based on financial information of medium-small sized companies list in KOSDAQ. 83 delisted companies from 2009 to 2012 and 83 normal companies, i.e. 166 firms in total were sampled for the analysis. Modelling with training data was mobilized for 100 companies inlcuding 50 delisted ones and 50 normal ones at random out of the 166 companies. The rest of samples, 66 companies, were used to verify accuracies of the models. Each model was designed by carrying out T-test with 79 financial ratios for the last 5 years and identifying 9 significant variables. T-test has shown that financial profitability variables were major variables to predict a financial risk at an early stage, and financial stability variables and financial cashflow variables were identified as additional significant variables at a later stage of insolvency. When predication capabilities of the models were compared, for training data, a logistic regression model exhibited the highest accuracy while for test data, the artificial neural networks model provided the most accurate results. There are differences between the previous researches and this study as follows. Firstly, this study considered a time-series aspect in light of the fact that failure proceeds gradually. Secondly, while previous studies constructed a multivariate discriminant model ignoring normality, this study has reviewed the regularity of the independent variables, and performed comparisons with the other models. Policy implications of this study is that the reliability for the disclosure documents is important because the simptoms of firm's fail woule be shown on financial statements according to this paper. Therefore institutional arragements for restraing moral laxity from accounting firms or its workers should be strengthened.

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Effectiveness of stages-matched educational program for cervical cancer screening among adult women in a community (일개 지역사회 여성 주민의 자궁경부암 조기검진 수검에 관한 행동변화단계별 교육 프로그램의 효과)

  • Kim, Young-Bok
    • Korean Journal of Health Education and Promotion
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    • v.24 no.5
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    • pp.23-37
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    • 2007
  • Background: Even though cervical cancer poses a significant global cancer burden, successful implementations for early detection offer an opportunity to prevent deaths and reduce the cancer burden. In Korea, cervical cancer is the most prevalent type of cancer among adult women, but it is one of the few cancers in which a consensus-approved screening test exists for early diagnosis, Pap test, that can be combined with highly efficacious treatment regimens for early-stage disease. Purpose: This study was carried out to identify the cognitive-behavioral factors associated with cervical cancer screening behavior among adult women, aged 40 to 59, and to develop tailored messages and to evaluate the effectiveness of stage-matched educational program. Method: A total of 283 women who aged 40 years or older was recruited in Seoul, from September, 1st to November, 14th, 2003. The intervention group (N=162) and the control group (N=121) were selected from five sub-districts in Seocho-gu, Seoul. Building on the TTM, a quasi-experimental study was conducted to test the effectiveness of stages-matched intervention addressed at the five stages of cervical cancer screening behavior. Women in the intervention group were randomly assigned to one of two conditions, internet or postal services. Results: In our results, 88.9% of participants had received a Pap test at least once in their life-time, and 65.4% had got it in the past two years. With regard to cognitive-behavioral factors, the stages-matched educational program increased attitude and process of change for cervical cancer screening. The percentage changed was the largest in maintenance stage. With regard to delivery methods for tailored messages, the print materials were more effective at increasing screening adherence than the e-mail. Whereas the postal service group showed remarkable the change of behavior stage, the internet service group did not. Also it was not shown any difference of the satisfaction with stages-matched educational program between internet and postal service groups. Conclusion: This study suggested that cervical cancer screening behavior could be changed by tailored messages which had developed with cognitive-behavioral factors. The stages-matched educational program was effective to promote the screening adherence for cervical cancer.

A Study about the Aesthetics of Oriental in Modern Fashion design (현대패션디자인에 나타난 동양의 미의식 연구)

  • 임영자
    • Journal of the Korean Society of Costume
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    • v.30
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    • pp.261-274
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    • 1996
  • In the present age dominate by both cer-taingty of 1% and uncertainty of 99% 'Fuzzy thinking' of Bart Kosko that is the way to solve the problems by the scientific way through a worldview of Buddhism or Taoism greatly prevails around the world over 'Lateral greatly prevails around the world over 'Lateral thinking' and the authenticity or the right and-wrong of the uncertainty which is the thinking way to find the answer of the problems of illogical way of Edward de Beno against the western vertical thinking were Concurrently fashion designers over the world also adopt the oriental elements. But there exist differences of thoughts between the orient and the occident. And they have dif-ferent thinking way of aestheticism and references of the value on the beauty. Not only beauty but the view through the mind as intuitional thought in which not only the rec-ognition of sense but also the rationalism and the naturalness play key role. The aesthetic sense in the orient contains both the truth and virtue. 2) The beauty of the mean It's from the thought of neutralization of Confucius. The mean or moderation state which in harmony with ethical virtue and aes-thetic beauty is the ideal and is the ultimate. Therefore the thought of Confucian is the creativity in which the balance and the har-mony is most important. Fashion design is also one of the representation of the mean because the spirit of the designer is harmonized for-mlessly with the object of the model of the fashion design. 2) The beauty of skillfulness It indicates the Taoism of Lao-tzu and Chuangtzu. It takes a super-artistic declar-ation that human can feel and recognize the color of colorlessness the sound of sound-lessness and the taste of tastelessness. The thought of arts affected by Taoism is 'ad-vanced age' called the beauty of skillfulness. The view of arts of lao-tzu takes the beauty of cosmos and the nature as a standard. Es-pecially the beauty of inactivity is recognized by the linkage between the beauty and the ugliness. And these things appear in fashion design as a design element such as humor or exaggeration. 3) The beauty of non-dualism It is thought of Buddhism that all evil passions of worry occur form the opposition in dualism. Finally this thought leads to that everything is consistent and truth is only one from the point of view that virtue and vice has on linkage that is 'no virtues no vices' and 'one with two, two, with one, one is not two' A big tendency like this became the root forma-tion of the thought of the oriental arts. 3. Characteristics of the oriental aesthetic sense on the present fashion design 1) The formation of the fashion design on the oriental elements In the picture-incantation which was a representation of an era when the thought of 'cosmic dual forces' dominated the basic polygons of 'a circle square triangle' means both 'one two three' and 'the negative positive mean' of cosmic elements. From this point of view the was of planner cutting in the Orient is dif-ferent from that of the Occidental which is in three-dimensional. The planner polygon type of the cut-pieces comes to have the meaning of the three-dimension when they consist of a suit that has the combination of each cut-piece. This shows the consistency with the principle of cosmos creation of Taoism that one is two two is three and three is every-thing. 2) The coloring and the symbolic represen-tation of the fashion design on the orien-tal elements The sense on the colors in the Orient from the thought of 'the cosmic dual forces and the five elements' is not the experi-enced from the knowledge but contains the consideration of philosophy Five-primary-color representing compass directions Blue(East) Red(South) Yellow(Center) White (West) and Black (North) is called ' the posi-tive' for this five-primary-color secondary-color which comes from the compound of the primary colors is called 'the negative' The thought of 'the cosmic dual forces and the five elements' is also an theory containing the natural order of the cos-mos and this shows the perceptional differ-ence that they are not conceptual but to be recognized and fell directly. A thought of Buddhism which is 'Colors are colorlessness and Clolorlessness are color's proves that. 3) The pattern and symbolic representation of the fashion design on the oriental elements The pattern as a visual style is a figure of symbolic representation which adopt the mental and physical world of human and are the compo-sition of artistic revelation of the human nature and the religous thought of incantation. Es-pecially the symbolic representation of the oriental thought of Confusion. Buddhism and Taoism There are patterns such as plants aminals the oriental four gods and geometry. From the above it's the time toward the 21'th century when the world is constructing one global area and one historical zone. And the exotic mood of the Orient represented in the fashion which doesn't make the common feeling in general does not cease to develop only to express the visual modeling but also adopts the thought religion and the art which are the root of the Orientail and contains inherent willing of modeling.

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How Can Non.Chaebol Companies Thrive in the Chaebol Economy? (비재벌공사여하재재벌경제중생존((非财阀公司如何在财阀经济中生存)? ‐공사층면영소전략적분석(公司层面营销战略的分析)‐)

  • Kim, Nam-Kuk;Sengupta, Sanjit;Kim, Dong-Jae
    • Journal of Global Scholars of Marketing Science
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    • v.19 no.3
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    • pp.28-36
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    • 2009
  • While existing literature has focused extensively on the strengths and weaknesses of the Chaebol and their ownership and governance, there have been few studies of Korean non-Chaebol firms. However, Lee, Lee and Pennings (2001) did not specifically investigate the competitive strategies that non-Chaebol firms use to survive against the Chaebol in the domestic Korean market. The motivation of this paper is to document, through four exploratory case studies, the successful competitive strategies of non-Chaebol Korean companies against the Chaebol and then offer some propositions that may be useful to other entrepreneurial firms as well as public policy makers. Competition and cooperation as conceptualized by product similarity and cooperative inter.firm relationship respectively, are major dimensions of firm.level marketing strategy. From these two dimensions, we develop the following $2{\times}2$ matrix, with 4 types of competitive strategies for non-Chaebol companies against the Chaebol (Fig. 1.). The non-Chaebol firm in Cell 1 has a "me-too" product for the low-end market while conceding the high-end market to a Chaebol. In Cell 2, the non-Chaebol firm partners with a Chaebol company, either as a supplier or complementor. In Cell 3, the non-Chaebol firm engages in direct competition with a Chaebol. In Cell 4, the non-Chaebol firm targets an unserved part of the market with an innovative product or service. The four selected cases such as E.Rae Electronics Industry Company (Co-exister), Intops (Supplier), Pantech (Competitor) and Humax (Niche Player) are analyzed to provide each strategy with richer insights. Following propositions are generated based upon our conceptual framework: Proposition 1: Non-Chaebol firms that have a cooperative relationship with a Chaebol will perform better than firms that do not. Proposition 1a; Co-existers will perform better than Competitors. Proposition 1b: Partners (suppliers or complementors) will perform better than Niche players. Proposition 2: Firms that have no product similarity with a Chaebol will perform better than firms that have product similarity. Proposition 2a: Partners (suppliers or complementors) will perform better than Co.existers. Proposition 2b: Niche players will perform better than Competitors. Proposition 3: Niche players should perform better than Co-existers. Proposition 4: Performance can be rank.ordered in descending order as Partners, Niche Players, Co.existers, Competitors. A team of experts was constituted to categorize each of these 216 non-Chaebol companies into one of the 4 cells in our typology. Simple Analysis of Variance (ANOVA) in SPSS statistical software was used to test our propositions. Overall findings are that it is better to have a cooperative relationship with a Chaebol and to offer products or services differentiated from a Chaebol. It is clear that the only profitable strategy, on average, to compete against the Chaebol is to be a partner (supplier or complementor). Competing head on with a Chaebol company is a costly strategy not likely to pay off for a non-Chaebol firm. Strategies to avoid head on competition with the Chaebol by serving niche markets with differentiated products or by serving the low-end of the market ignored by the Chaebol are better survival strategies. This paper illustrates that there are ways in which small and medium Korean non-Chaebol firms can thrive in a Chaebol environment, though not without risks. Using different combinations of competition and cooperation firms may choose particular positions along the product similarity and cooperative relationship dimensions to develop their competitive strategies-co-exister, competitor, partner, niche player. Based on our exploratory case-study analysis, partner seems to be the best strategy for non-Chaebol firms while competitor appears to be the most risky one. Niche players and co-existers have intermediate performance, though the former do better than the latter. It is often the case with managers of small and medium size companies that they tend to view market leaders, typically the Chaebol, with rather simplistic assumptions of either competition or collaboration. Consequently, many non-Chaebol firms turn out to be either passive collaborators or overwhelmed competitors of the Chaebol. In fact, competition and collaboration are not mutually exclusive, and can be pursued at the same time. As suggested in this paper, non-Chaebol firms can actively choose to compete and collaborate, depending on their environment, internal resources and capabilities.

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Relationship between Brand Personality and the Personality of Consumers, and its Application to Corporate Branding Strategy

  • Kim, Young-Ei;Lee, Jung-Wan;Lee, Yong-Ki
    • Journal of Global Scholars of Marketing Science
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    • v.18 no.3
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    • pp.27-57
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    • 2008
  • Many consumers enjoy the challenge of purchasing a brand that matches well with their own values and personalities (for example, Ko et al., 2008; Ko et al., 2006). Therefore, the personalities of consumers can impact on the final selection of a brand and its brand personality in two ways: first, the consumers may incline to purchase a brand or a product that reflects their own personalities; second, consumers tend to choose a company that has similar brand personalities to those brands that are being promoted. Therefore, the objectives of this study are following: 1. Is there any empirical relationship between a consumer's personality and the personality of a brand that he or she chooses? 2. Can a corporate brand be differentiated by the brand personality? In short, consumers are more likely to hold favorable attitudes towards those brands that match their own personality and will most probably purchase those brands matching well with their personality. For example, Matzler et al. (2006) found that extraversion and openness were positively related to hedonic product value; and that the personality traits directly (openness) and indirectly (extraversion, via hedonic value) influenced brand effects, which in turn droved attitudinal and purchase loyalty. Based on the above discussion, the following hypotheses are proposed: Hypothesis 1: the personality of a consumer is related to the brand personality of a product/corporate that he/she purchases. Kuksov (2007) and Wernerfelt (1990) argued that brands as a symbolic language allowed consumers to communicate their types to each other and postulated that consumers had a certain value of communicating their types to each other. Therefore, how brand meanings are established, and how a firm communicate with consumers about the meanings of the brand are interesting topics for research (for example, Escalas and Bettman, 2005; McCracken, 1989; Moon, 2007). Hence, the following hypothesis is proposed: Hypothesis 2: A corporate brand identity is differentiated by the brand personality. And there are significant differences among companies. A questionnaire was developed for collecting empirical measures of the Big-Five personality traits and brand personality variables. A survey was conducted to the online access panel members through the Internet during December 2007 in Korea. In total, 500 respondents completed the questionnaire, and considered as useable. Personality constructs were measured using the Five-factor Inventory (NEO-FFI) scale and a total of 30 items were actually utilized. Brand personality was measured using the five-dimension scale developed by Aaker (1997). A total of 17 items were actually utilized. The seven-point Likert-type scale was the format of responses, for example, from 1 indicating strongly disagreed to 7 for strongly agreed. The Analysis of Moment Structures (AMOS) was used for an empirical testing of the model, and the Maximum Likelihood Estimation (MLE) was applied to estimate numerical values for the components in the model. To diagnose the presence of distribution problems in the data and to gauge their effects on the parameter estimates, bootstapping method was used. The results of the hypothesis-1 test empirically show that there exit certain causality relationship between a consumer's personality and the brand personality of the consumer's choice. Thus, the consumer's personality has an impact on consumer's final selection of a brand that has a brand personality matches well with their own personalities. In other words, the consumers are inclined to purchase a brand that reflects their own personalities and tend to choose a company that has similar brand personalities to those of the brand being promoted. The results of this study further suggest that certain dimensions of the brand personality cause consumers to have preference to certain (corporate) brands. For example, the conscientiousness, neuroticism, and extraversion of the consumer personality have positively related to a selection of "ruggedness" characteristics of the brand personality. Consumers who possess that personality dimension seek for matching with certain brand personality dimensions. Results of the hypothesis-2 test show that the average "ruggedness" attributes of the brand personality differ significantly among Korean automobile manufacturers. However, the result of ANOVA also indicates that there are no significant differences in the mean values among manufacturers for the "sophistication," "excitement," "competence" and "sincerity" attributes of the corporate brand personality. The tight link between what a firm is and its corporate brand means that there is far less room for marketing communications than there is with products and brands. Consequently, successful corporate brand strategies must position the organization within the boundaries of what is acceptable, while at the same time differentiating the organization from its competitors.

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Studies of Long-term Variability of Methane in the Moo-Ahn Observatory Site in Korea (무안지역을 중심으로 한 메탄의 장주기적 농도변화 특성 연구)

  • Choi, Gyoo-Hoon;Youn, Yong-Hoon;Kang, Chang-Hee;Jo, Young-Min;Ko, Eui-Jang;Kim, Ki-Hyun
    • Journal of the Korean earth science society
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    • v.23 no.3
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    • pp.280-293
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    • 2002
  • In this study, we analyzed the long-term distribution patterns of $CH_4$ determined from the Moo-Ahn (MAN) observatory in relation with those derived from the world major background monitoring sites. Comparison of the data were made using those data sets collected for the period between Aug. 1995 to Dec. 1991. The mean $CH_4$ concentration of MAN observatory was measured to be 1898${\pm}$85.3 ppb, recording the highest concentration of all the monitoring sites. When the concentration of $CH_4$ for different stations was compared over latitudinal scale, its concentration appeared to increase systematically as a function of latitude with an exception of MAN (and the other Korean monitoring site at Tae Ahn). Moreover, such phenomenon was more distinctive in Northern than Southern Hemisphere. According to the analysis of the monthly distribution patterns of $CH_4$ at MAN observatory, its concentration level began to increase from the months of February/March and peaked during August. In addition, when the level of oscillation in monthly concentrations (between the maximum and minimum values) was checked, differences were significant between MAN and other monitoring stations. If the rate of concentration change was checked using the data sets collected for this limited time period in terms of linear regression analysis, results for MAN showed the highest annual increasing rate of 16.5 ppb. It is hence suggested that the largest variability in the $CH_4$ distribution patterns at MAN observatory may be reflected by the high irregularity in its source/sink processes.

Some lessons from German startup policies (독일의 창업정책과 정책적 시사점)

  • Kim, Young-woo
    • Journal of Venture Innovation
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    • v.1 no.1
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    • pp.49-65
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    • 2018
  • For a long time the German economy was primarily defined by large corporations and thriving small and medium-sized enterprises. Since about 2005 a second strand has started to emerge and it is one which is becoming increasingly important and is creating jobs - start-ups in the digital sector. This start-up activity is taking an important role in Germany's economic development: Start-up companies spawn innovations and create jobs, thus promoting the concept of competition. In general "start-up" refers to digitally-driven companies that are not more than five years old. Germany's start-up policy consists of three main parts. First of all, Germany has the characteristics of technology-based start-ups. The Hartz reform since 2002 has shown its focus on technology-based start-ups. In particular, it is the most appropriate for a start-up company to take the role of a new technology company to respond to changes in the global industrial structure. Second, it is approaching from a long-term perspective. In this regard, the small business policy, including Germany's new business policy, is seen as a tradition that can be consistent and can make policy decisions based on the basics rather than following the times. Third, the government is implementing policies centered on demand. Germany's start-up policy is summarized as a technology-based policy and new job creation. The policy response is that the government seeks the best combination of policies by adapting them to the times from the broad trend of employment market policies. What is important here is that policies are made based on consumers, not suppliers, in the process of policy making and implementation. With the Digital Agenda 2020 the Federal government has likewise committed itself to preparing the digital economy for international competition and making Germany the "No. 1 digital growth country in Europe". Ever since 1998 the Federal Ministry for Economic Affairs and Energy (BMWi) has awarded the "EXIST" start-up scholarship to students and graduates. The Ministry also invests in the High Tech start-up fund. Together with Kreditanstalt für Wiederaufbau (KfW) and 18 other investors from the world of business the seed investor promotes young technology companies. Germany offers start-ups a good infrastructure and lots of funding opportunities. Berlin is regarded as Europe's start-up capital and also attracts lots of international young entrepreneurs.