• Title/Summary/Keyword: Government Consumption

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Economic Analysis of Rice Production by Seed Broadcasting -In the Case of Daeho Large Scale Tidal and Development Area- (수도 직파재배의 경제성분석 -대단위 대호간척농지를 중심으로-)

  • Lim, Jae Hwan;Ryu, Yong Hee
    • Korean Journal of Agricultural Science
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    • v.23 no.2
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    • pp.301-322
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    • 1996
  • This study is first aimed at identifying the possibility of labour saving and production cost decreasing in rice production with respect to seed broad casting technology. Comparison of labour inputs and production costs of rice in-between USA and Korea and recommendation of policy guidelines for the continous rice cultivation are the second objective of this study. Under the WTO system, rice enterprice is the most vulnerable crop in the sense of labour productivity and price competitiveness in the international market. How to adapt labour saving technology and how to decrease production costs are the most imminent problems to be solved in rice production. To achieve the objectives, survey on nine rice enterprice farms were made in Daeho tidal farmland with respect to the size of farm, labour inputs, productivity, farm mechanization and farm land base development. The existing data on labour saving technology by seed broadcasting which had surveyed by Rural Development Administration were collected to compare the surveyed data from Daeho tidal farm land The study results and policy recommendation are summarized as follows; 1. Labour requirements per 10a for rice enterprise farms with seed broadcasting and with transplanting were estimated 11.4 and 18.5hours respectively. 'This above labour inputs were equivalent to 1/3-1/5 of the national average labour inputs of 53.6 hours which were included transplanting and harvesting by machinery. Considering the labour requirement of 1.7 hours per 10a for the USA rice production, Korea rice culture has possibility to decrease labour demand upto USA level of labour inputs. 2. Production cost of rice in Korea were estimated US$4,181 per ha which were higher than that of USA by 3.00 times and production costs per ton were shown as US$313 for USA rice and US$1,018 for Korean rice. 3. Land productivity of rice per 10a in America was reached to 4,325kg and the counterpart of Korea was about 4,181kg in recent year. In the sense of land productivity, both yields of rice were comparable. 4. The price of japonica type rice similar to Korean traditional rice in international market in 1994 was f.o.b US$466 per ton which was equivalent to import parity price of US$830 per ton in domestic market. The price of rice purchased by Korean G't and received by farmers were amounted to US$ 2,013 and US$ 1,663 respectively in the same year. Domestic prices mentioned above were higher than the import parity price as US$830 by 2.0-2.4 times. 5. American rice production competitive to Korean rice was equivalent to 17,012 thousand tons, 1.28% of the world production of rice in 1991 and consumption of rice in America was amounted to 2,633 thousand tons. Exportable quantity of USA rice were estimated as 4,379 thousand tons of which 52.3%, 2,300 thousand tons, were exported indeed in the same year. 6. The quantity of Korean rice produced in 1991 was estimated 1.00% of the world production. The world amount of rice exported in 1991 was reached to 2.45% of the world production of which 34.2% was occupied by USA The remaining quantities of world exported rice were dominated by Tiland, Pakistan and Vietnam where produced indica variety. 7. Under the given technology, labour inputs per 10a for rice production could be possible to save by 70% of the national average labour requirement of 53.6 hours through implmenting complete farm mechanization with land consolidation and on-farm development and improvement of fanning practices like seedbroad casting txchnology etc. On the other hand, prduction costs of rice could be decreased by 10% rather than 49% as target indicated in the Rural Development Counter Measures of Korean Government in 1994 owing to increasing farm mechanization cost and interest on land service with high price. Accordingly production cost of rice per kg could be decreased only by 10% of the 1994 production cost. 8. Rice policy of Korean government in the future should take into account the labour saving technology to solve labour shortage in rural area and to enhance off-farm incomes by creating job opportunities in agro-industrial zones and special production area. On account of the staple food and main energy source for people's health, rice production even encountered vulnerable economic settings should be continued without price distortion policies and discouraging farmer's intention to cultivate rice by importing institutionally the direct income subsidy system.

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Survey on the Content and Intake Pattern of Sugar from Elementary and Middle School Foodservices in Daejeon and Chungcheong Province (대전.충청지역 초.중학교 급식의 당 함량 및 급식을 통한 당류의 섭취실태 연구)

  • Park, You-Gyoung;Lee, Eun-Mi;Kim, Chang-Soo;Eom, Joon-Ho;Byun, Jung-A;Sun, Nam-Kyu;Lee, Jin-Ha;Heo, Ok-Soon
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.39 no.10
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    • pp.1545-1554
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    • 2010
  • Korean government will set up the nationwide food safety system with strict control of hazardous nutrients like sugar, fatty acids and sodium as well as advanced nutrition education system. In addition, almost one hundred percent of school food service rate forced the government to consider more effective ways to upgrade the nutritional status of school meals. The object of our study was to provide the data on content and consumption of sugar in school meal for the nationwide project. For this purpose, we surveyed the sugar content of 842 school meal menus and their intake level for 154 days in 8 schools in Daejeon and Chungcheong Province. Sugar contents, the sum of the quantity of 5 sugars commonly detected in food, were analysed with HPLC-RID (Refractive Index Detector). Sugar intakes were calculated by multiplying the intake of each menu to the sugar content of that menu. The sugar content was highest in the desserts, which include fruit juices, dairy products and fruits. Sugar content of side dish was high in sauces and braised foods. Sugar intake from one dish is high in beverage and dairy product, and one dish meals contribute greatly to sugar intake because of their large amount of meal intake. The average lunch meal intakes of second grade and fifth grade elementary school students were 244 g/meal and 304 g/meal, respectively. The meal intake of middle school student was 401 g/meal. The average sugar intake from one day school lunch was 4.22 g (4.03 g on elementary and 5.31 g on middle school student), which is less than 10% of daily sugar reference value for Koreans. The result of this study provides exact data of sugar intake pattern based on the content of sugar which is matched directly to the meals consumed by the students.

The Characteristics and Background of Gwanyo's Production of White Porcelain with "Byeol(別)" Inscription in 16th and 17th Century Joseon (조선 16~17세기 관요(官窯) '별(別)'명 백자의 성격과 제작 배경)

  • KIM, Kwihan
    • Korean Journal of Heritage: History & Science
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    • v.55 no.2
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    • pp.214-230
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    • 2022
  • This paper discusses the characteristics and background of the production of white porcelain with the "Byeol(別)" inscription. Such porcelain was produced by the government-run porcelain kiln, Gwanyo(官窯), in the 16th and 17th centuries (from the 1560s to the 1640s), during the Joseon dynasty. The white porcelain ware, inscribed with either the term Byeol or "jwa(左)" and "u(右)," constituted a dual production system of white porcelain by Gwanyo starting in the 1560s. However, to date, few studies have examined Byeol-inscribed white porcelain. This, therefore, makes it difficult to achieve a comprehensive understanding of the evolution of inscriptions on the white porcelain produced by Gwanyo in the 15th to 17th centuries. Besides a regular annual stock of porcelain(年例進上磁器), Gwanyo also produced and supplied additional porcelain ware, or Byeol-gi, at the behest of the royal family or the court of Joseon. Byeol-inscribed white porcelain is a form of Byeol-gi, produced through extra firing, or Byeolbeon(別燔). According to use, Byeol-gi can be categorized as an item for national use(國用) or an item for internal use(內用). However, if the porcelain only carries the "Byeol(別)" inscription, it is difficult to identify its characteristics. Furthermore, as part of the annual production of porcelain was for the supply of Byeol-gi, and then for other purposes, the white porcelain came to be inscribed with dots indicating a change in ownership. In the 16th century, the royal family increased its consumption of white porcelain based on Shinyu Gongan(辛酉貢案), the government's fiscal reform measures. To guarantee a stable supply of exceptional Byeol-gi in light of Gwanyo's decline in the 1560s, the royal family benefited from the inscription of "Byeol." The white porcelain produced by Gwanyo was divided into annual offerings-those with the inscriptions "jwa(左)" and "u(右)"-and Byeol-gi, those with the inscription of "Byeol." They were managed separately from the commencement of production. Byeol-inscribed white porcelain was produced until the 1640s. During the mid-and late 1640s, Byeolbeon was temporarily suspended. Starting in the 1650s, the white clay used to produce the annual stock of white porcelain was sourced from regions other than those providing the clay for Byeol-gi production. The former used clay from Wonju(原州土) and Seosan(瑞山土), while the latter used clay from Gyeongju(慶州土) and Seoncheon(宣川土). According to the literature, the clay from Gyeongju and Seoncheon was much cleaner than that from Wonju and Seosan. Byeolbeon thus underwent a transformation, whereby production was separately managed, right from the stage of white clay mining. Ultimately, the need for the separate management of Byeol-gi through inscriptions diminished, resulting in the disappearance of Byeol-inscribed white porcelain.

A Study on the Support System for Reinforcement of Competitiveness of Small Business persons - Mainly Focused on Support System for Small Business Persons - (소상공인 경쟁력 강화의 지원제도에 관한 연구 - 소상공인 지원제도를 중심으로 -)

  • Woo, Dae-IL;Lee, Sang-Youn
    • The Korean Journal of Franchise Management
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    • v.2 no.2
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    • pp.95-110
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    • 2011
  • As global economic conditions are getting uneasy and polarization of our economy is intensified, the economic sentiment of small businesses is still low and unstable. The collapse of worldwide banking systems due to sub prime crisis in 2007 became the catalyst that shakes financial industries in each country in the world; the most sentiment people, small businesspersons, also have hard time facing survival way out, facing a great crisis. All organizing powers including manufactures, wholesales and retails are being gradually greater in mutual relations and dependence, and unstable factors about risks are also increasing. For exterior environmental and physical risk factors which cannot make small businesses survive themselves by developing ways out are eventually increasing, those who cannot cope with these factors face a great crisis. Although the government tries hard to overcome this situation conducting many ways, the effect does not continue. It is the real state that independent business markets including overall employment and establishing business have vicious cycle that they cannot be improved, due to increase of employment centered on short-term labors which lack durability in creation of employment and decline of household income. Recently, growth shows indication of slowdown because of multinational risk factors including financial crisis in each country in Europe, the death of Kim Jung-il, relationship with North Korea, and unstability of war situation in the Middle East Asia. Experts expect that growth rate will be about 4%, and independent business that ordinary people feel is still gloomy. It's reality that there is no adequate alternative for lack of jobs, unstable employment and a means of living after retirement. Also, the fact that large companies enter the market which is narrow and in the excessive competition should be an environmental factor that makes the situation worse. The business concept, a franchise, is the part we should think about whether it is the institutional solution that can guarantee independent businessmen stable life. Major companies are frightfully entering the market today, breaking the barrier to entry and shouting of a win-win with independent businesses. It's the small businesspersons who go through painful domestic recession, cannot predict the future and manage confusing and unstable independent business. It's very important to restore the domestic economy through wisely boosting consumption as soon as possible. It's also important to lead the situation by gathering powers of the government and related organizations, agonizing, suggesting solutions, and establishing accurate directions. The purpose of this study, therefore, is to suggest ways to strengthen competitiveness of small businesspersons by examining small business support policies which are currently implemented.

Analyzing Residential Land Use Change and Population Density Considering Climate Change Using Land Use Equilibrium Model in Jeju (토지이용균형모델을 이용한 기후변화에 따른 제주도 지역의 주거용 토지이용변화와 인구 밀도 예측)

  • YOO, So-Min;LEE, Woo-Kyun;Yamagata, Yoshiki;Lim, Chul-Hee;SONG, Chol-Ho;CHOI, Hyun-Ah
    • Journal of the Korean Association of Geographic Information Studies
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    • v.18 no.4
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    • pp.43-58
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    • 2015
  • The greenhouse gas emission caused by rapid economic growth and population is increasing in Korea. Also, climate change from greenhouse gases emission is accelerated. IPCC(Intergovernmental Panel on Climate Change) report projects an increase of greenhouse gas emissions by 90% from the year 2000 to 2030(SRES, 2000). Within this context, establishing countermeasures on climate adaptation and mitigation is becoming increasingly important to reduce the negative effect of climate change at a global level. Along with global efforts to tackle climate change, Korean government has incorporated 'Low Carbon Green Growth'strategies into its national policy agenda. Local governments have also conducted a number of studies to devise plans for environmentally friendly and sustainable city development. In this paper, the land-use equilibrium model, which reflects economic and geographical characteristics, is used to analyze the change in residential land use and population density. The target area for study is Jeju island in Korea. With an application of land use equilibrium model, it derived three types of scenarios of the land use change: (1) dispersion scenario-reflecting present-day conditions (2) adaptation scenario-applying adaptation measures to climate change and (3) combined scenario-integrating both adaptation and mitigation measures in model to climate change. By applying dispersion to combined scenario, the general trend shows a downward shift in population density. Subsequently, energy consumption and expected cost associated with casualties were calculated on the basis of the findings of respective scenario. The results show a descending trend in energy consumption and expected casualtie. Therefore, understanding for residential land use and population density of each scenario that analyzed land use equilibrium model in the study is expected to devise a environmental city plan for climate change stabilization and climate adaptation and mitigation.

Research Trends and Future Directions for R&D Vitalization of Domestic Dairy Industry (국내 유가공산업의 R&D활성화를 위한 연구 동향과 방향)

  • Yoon, Sung-Sik
    • Journal of Dairy Science and Biotechnology
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    • v.29 no.1
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    • pp.23-31
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    • 2011
  • Domestic dairy industry is now standing at the crossroad for planning next fifty years, mainly because economic and environmental situations surrounding Korean peninsula are fast changing. For the aspects of dairy consumption, fresh milk consumed less, while consumption of the other milk and dairy products is slightly increasing every year. In 2010, it is approximately estimated that 1,939,000 tons of raw milk was used and the supply would be short by about 35,000 tons, based on the amounts in the previous year. Currently, multilateral negotiations against US and EU are underway. When it will be in effect in the future, significant damage would be expected in the dairy and livestock sectors, leading to cut domestic milk supply. Quality of farm-gate milk is graded as 1A on average 90% or more, loaded with very low in microbial and somatic cell counts. Therefore, policy implications have to be placed toward switch currently the UHT processing method to Pasteurization or the LTLT technology, by which natural flavors and nutrients in milk mostly remain after heat treatment. Domestic cheese products comprise only 10% and the rest is occupied by the various kinds of imported natural products. The market size keeps increasing up to 65,423,000 tons last year. When it comes to vitalization of our natural cheese industry, cheese whey, which is a main by-product in cheese manufacture, is a critical issue to be solved and also "On-Farm Processing" would be combined with a growth of big dairy companies when few immediate issues among the relevant regulations will be eased and alleviated in the near future. Fermented milk market is recorded as a single area of gradual increase in the past 10 years, Korea. Fermented yogurts with health claims targeted stomach, liver, and intestine are popular and has grown fast in sales amounts. In this context, researches on beneficial probiotic lactic acid bacteria are one of the important projects for domestic milk and dairy industries. Labelling regulations on efficacy or health-promoting effects of functional dairy products, which is the most important issue facing domestic dairy processors, should be urgently examined toward commercial expression of the functionality by lawful means. Colostrum, a nutrition-rich yellowish fluid, is roaded with immune, growth and tissue repair factors. Bovine colostrum, a raw material for immune milk preparations and infant formula, can be used to treat or prevent infections of the gastrointestinal tract. Nanotechnology can be applied to develop new milk and dairy products such as micro-encapsulated lactase milk for consumers suffering lactose intolerance. Raw milk is suggested to be managed by its usage in the processing line because imbalance of supply and demand is structural problem in every country and thus the usage systems as in the advanced dairy countries is worth of bench-marking to stabilize milk supply and demand. Raw milk produced is desirable to divide into the three parts; domestic, import, and buffering purposes. It is strongly recommended that a domestic dairy control center as an institutional framework should be urgently established as is Dairy Board in New Zealand and Australia. Lastly, government policy should be directed to foster the highly-educated people who are majoring in Dairy Sciences or working in the dairy industry by means of financial support in studying and training abroad as well.

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Comparison of dietary behavior, changes of diet, and food intake between 40~59 years old subjects living in urban and rural areas in Lao PDR (라오스 도시·농촌 지역별 40~59세 주민들의 식행동, 식생활변화 및 식품섭취 비교 연구)

  • Kim, Ji Yeon;Yi, Kyungock;Kang, Minah;Kang, Younhee;Lee, Gunjeong;Kim, Harris Hyun-soo;Hansana, Visanou;Kim, Yuri
    • Journal of Nutrition and Health
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    • v.49 no.2
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    • pp.111-124
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    • 2016
  • Purpose: The current study was conducted for evaluation and comparison of dietary behavior and food intake in different regions of Lao PDR. Methods: The survey was conducted on 979 people aged 40~59 years old living in 25 urban provinces and 25 rural provinces in four districts (VTE Capital-Chanthabuly, Xaysetha, VTE Province-Phonhong, and Thoulakhom) of Laos. General demographic information, health status, and dietary behavior were surveyed using a questionnaire. Results: The literacy ratio (p = 0.000), education level (p = 0.000), asset ownership level (p = 0.000), and government and private employee ratio (p = 0.000) were higher in urban subjects compared with rural subjects. The mean value of weight (p = 0.000), waist circumference (p = 0.000), and diastolic blood pressure (p = 0.009) and alcohol consumption (p = 0.000), self-rated health status (p = 0.001), and the rate of obesity (p = 0.000) were significantly higher in urban subjects compared with rural subjects. However, the rate of current smoker was significantly higher in the rural group (p = 0.023). Meals are becoming more westernized by higher frequency of eating out, consumption of fatty meat and fried or stir-fried food in urban areas compared to rural areas. Urban subjects had relatively better balanced meals compared to rural subjects whereas they consumed insufficient meals per day and consumed meals irregularly compared to rural subjects. Intake of fruit and milk was significantly higher in urban subjects compared with rural subjects. However, the intake of vegetables was significantly higher in rural areas than urban areas. Conclusion: The result of this study showed that the traditional Lao diet is being replaced by an unhealthy western dietary pattern, which may be a risk factor for increasing development of non-communicable disease (NCD) in Lao PDR. Planning of proper personalized nutritional intervention and education in each area is needed to decrease the health risks of NCD.

The Influence of the Restrictions in Chinese economic growth on Korean commercial environment (중국 경제성장의 제약요인이 한국 통상환경에 미치는 영향)

  • Shong, Il-Ho;Lee, Gye-Young
    • International Commerce and Information Review
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    • v.15 no.4
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    • pp.457-479
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    • 2013
  • Through a Chinese rise, Chinese dream is actualizing as the world's great power. According to outlook of World Bank and IMF, Around 2030 China will be a great power bigger than America's economic power. The rise of China will give a huge impact to the whole world. China expands her influence through a global manufacturing base and a global market. To actualize 'Peaceful Rise' Strategy, China has many constraints. Chinese society is facing many difficult social problem due to side effects of a rapid development. Such as the spread of corruption, the severity of wealth gap, environmental degradation and energy shortage. Internationally there are containment from hegemon so-called 'China threat' dispute, Taiwan issue and territorial disputes. Western countries are hostile to China for two reasons. Based on expectations, one is China's socialist system and the other is the rising China which will compete for supremacy with Europe and America. Recent emergence of Chinese nationalism and the containment of the neighboring countries are also serious limiting factors. Domestically they have the rampant corruption in the bureaucracy, weakened capacity of Communist rule, wealth disparity due to the discriminatory economic development strategy, seriousness of rural problem, social instability, lack of social security systems and the development gap between the eastern coastal areas and western inland areas, ethnic minorities problems, the constraint of sustainable development issues due to lack of resources, environmental pollution and energy constraints. Like the former Soviet Union, China may face a dismantlement. After the rise, China may encounter possibilities of a war between great powers or a collapse of Chinese society caused by deepening internal conflict. Serious economic polarization would make peasants and urban workers, who are social vulnerable people, to turn their back to communist party and threaten the justification and the appropriateness of the ruling communist party. Chinese government will think internal system security threat is more formidable risk factor than a system security threat from the hegemon. The decline of great country comes from internal reasons rather than external reasons. To achieve peaceful rise, unification with Taiwan is an essential prerequisite. Taiwan issues are complex problems which equipped with international and domestic factors. Lack of energy resources, environmental pollution in China will bring economic crisis to Korean enterprises. Important influence to Korean economy will be a changeover of the method in economic development. It will turn the balance of investment and consumption, GDP-centered growth to consumption and environment-centered growth. Services industries including finance, environment, culture, education, health care and social welfare will grow. Change in China's growth model will give a great challenge upon the intermediate goods industry in Korea. Korea should reduce the portion of machinery, automotive, semiconductor, steel and chemical-centered export industry to China, and should increase the proportion of the service industry.

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Effects of Nutrition Education Program Based on Social Cognitive Theory for Low Sodium Consumption among Housewives Living in Certain Regions of Seoul (서울시 일부 지역 주부의 나트륨 섭취 감소를 위한 사회인지이론 기반의 영양 교육 프로그램의 적용 및 평가)

  • Baek, Jae Yeon;Yi, Hae-Yeon;Hwang, Ji-Yun;Kim, Kirang
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.46 no.10
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    • pp.1243-1252
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    • 2017
  • There are limited programs for low sodium intake based on the nutrition education model for housewives who cook family meals. The objective of this study was to evaluate the effects of model-based nutrition programs for low sodium intake among housewives residing in Seoul by incorporating social cognitive theory. A questionnaire survey before and after education was conducted on 140 housewives who participated in the 'Low Sodium Nutritional Education Program' delivered by a district public health center for 12 weeks from November 2015 to January 2016. The contents of the nutrition education program and program evaluation items were based on the action plans for 'Less Sodium Healthy Practice' suggested by the Ministry of Food and Drug Safety. The results show that program participants showed a lower preference for sodium, higher selection of low sodium dishes from restaurants or cafeteria if available, and increased awareness of the need of restaurants to serve low sodium dishes compared to before. In terms of behavioral changes, there were significant improvements in checking nutrition labeling and selection of foods with low sodium, use of low sodium food products, use of natural seasonings to reduce salt intake, and consumption of fast foods and processed foods. On the other hand, requesting less salty meals when ordering and introducing restaurants or cafeterias with healthy and low sodium menus turned out to be difficult to put into practice. In conclusion, the nutrition education program for sodium intake reduction for housewives was effective in increasing knowledge, environment recognition, and behaviors related to low sodium intake but not behaviors related to physical environmental factors. Therefore, further nutrition education programs and practices for sodium intake reduction should be comprehensively implemented with improvement of physical environments for low sodium intake.

Construction of Consumer Confidence index based on Sentiment analysis using News articles (뉴스기사를 이용한 소비자의 경기심리지수 생성)

  • Song, Minchae;Shin, Kyung-shik
    • Journal of Intelligence and Information Systems
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    • v.23 no.3
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    • pp.1-27
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    • 2017
  • It is known that the economic sentiment index and macroeconomic indicators are closely related because economic agent's judgment and forecast of the business conditions affect economic fluctuations. For this reason, consumer sentiment or confidence provides steady fodder for business and is treated as an important piece of economic information. In Korea, private consumption accounts and consumer sentiment index highly relevant for both, which is a very important economic indicator for evaluating and forecasting the domestic economic situation. However, despite offering relevant insights into private consumption and GDP, the traditional approach to measuring the consumer confidence based on the survey has several limits. One possible weakness is that it takes considerable time to research, collect, and aggregate the data. If certain urgent issues arise, timely information will not be announced until the end of each month. In addition, the survey only contains information derived from questionnaire items, which means it can be difficult to catch up to the direct effects of newly arising issues. The survey also faces potential declines in response rates and erroneous responses. Therefore, it is necessary to find a way to complement it. For this purpose, we construct and assess an index designed to measure consumer economic sentiment index using sentiment analysis. Unlike the survey-based measures, our index relies on textual analysis to extract sentiment from economic and financial news articles. In particular, text data such as news articles and SNS are timely and cover a wide range of issues; because such sources can quickly capture the economic impact of specific economic issues, they have great potential as economic indicators. There exist two main approaches to the automatic extraction of sentiment from a text, we apply the lexicon-based approach, using sentiment lexicon dictionaries of words annotated with the semantic orientations. In creating the sentiment lexicon dictionaries, we enter the semantic orientation of individual words manually, though we do not attempt a full linguistic analysis (one that involves analysis of word senses or argument structure); this is the limitation of our research and further work in that direction remains possible. In this study, we generate a time series index of economic sentiment in the news. The construction of the index consists of three broad steps: (1) Collecting a large corpus of economic news articles on the web, (2) Applying lexicon-based methods for sentiment analysis of each article to score the article in terms of sentiment orientation (positive, negative and neutral), and (3) Constructing an economic sentiment index of consumers by aggregating monthly time series for each sentiment word. In line with existing scholarly assessments of the relationship between the consumer confidence index and macroeconomic indicators, any new index should be assessed for its usefulness. We examine the new index's usefulness by comparing other economic indicators to the CSI. To check the usefulness of the newly index based on sentiment analysis, trend and cross - correlation analysis are carried out to analyze the relations and lagged structure. Finally, we analyze the forecasting power using the one step ahead of out of sample prediction. As a result, the news sentiment index correlates strongly with related contemporaneous key indicators in almost all experiments. We also find that news sentiment shocks predict future economic activity in most cases. In almost all experiments, the news sentiment index strongly correlates with related contemporaneous key indicators. Furthermore, in most cases, news sentiment shocks predict future economic activity; in head-to-head comparisons, the news sentiment measures outperform survey-based sentiment index as CSI. Policy makers want to understand consumer or public opinions about existing or proposed policies. Such opinions enable relevant government decision-makers to respond quickly to monitor various web media, SNS, or news articles. Textual data, such as news articles and social networks (Twitter, Facebook and blogs) are generated at high-speeds and cover a wide range of issues; because such sources can quickly capture the economic impact of specific economic issues, they have great potential as economic indicators. Although research using unstructured data in economic analysis is in its early stages, but the utilization of data is expected to greatly increase once its usefulness is confirmed.