• Journal of Distribution Science
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• v.14 no.10
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• pp.47-57
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• 2016

Purpose - This study's purpose is to investigate the market structure of the Korean duty free shop industry that has received recent attention from researchers and practitioners. By raising the question of whether or not the Korean duty free shop industry is unequivocally monopolistic, a wider viewpoint is provided. The study seeks to offer insights and managerial implications for marketers and policy makers who are in charge of regulating major Korean duty free shops. Research design, data, and methodology - The authors use secondary data from various sources, including Korea Customs Service and the Moodie Report, to investigate the structure of the duty free shop industry of Korea. Based on several theories, they present various criteria and statistical evidence such as K-firm concentration ratio, HHI, consumer substitutability, excess profit, and marketing costs. Results - In terms of consumer substitutability, it is difficult to confirm whether or not the Korean duty free shop industry is monopolistic. Notwithstanding monopoly characteristics in terms of market share, neither the company Lotte nor Shilla appear to have market dominating power. It is not easy for either of them to control prices or to achieve a much lower operational profit ratio due to a dominant bargaining power. Moreover, the license is not an economic rent. In this situation, it is not easy for these companies to obtain an excessive profit. Conclusions - Considering that most global duty free shops are trying to go upscale to improve bargaining power, it does not seem likely that rigid regulations are needed in the industry. Even though the Korean duty free industry ostensibly has a monopolistic structure, government and policy-makers should look beyond the surface. They should take global and other reasonable criteria into consideration when they establish or change regulation policies. Thorough understanding and appropriate support are needed for the Korean duty free shop industry. Additionally, duty free shops should position themselves as global companies struggling against unlimited international competition, rather than Korean domestic companies. At the same time, they need to give customers appropriate information about the benefits they provide.

• Journal of Distribution Science
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• v.15 no.11
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• pp.73-82
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• 2017

Purpose - This paper aims to investigate a profit maximizing incentive of foreign traders in distributing the KOSPI 200 Futures. Such an incentive may induce unsophisticated retail traders to suffer loss from speculative trading. Since Korean government increased the entry barriers of the market to protect unsophisticated traders, the market size has been decreasing while the proportion of the contract held by foreign traders has been increasing. These on going changes make the market imperfectly competitive, where a profit maximization incentives of foreign traders are expected to grow. In this paper, we attempt to find any evidence of such behavior, thereby providing implications regarding market policy and market efficiency. Research design, data, and methodology - According to Kyle(1985), an informed trader exploits his/her monopoly power optimally in a dynamic context so that he/she makes positive profit, where he/she could conceal his/her trading utilizing noise trading as camouflage. We apply the KOSPI 200 Futures market to the Kyle's model: foreign traders who take into account the effect of his/her trading to maximize expected profits as an informed trader, retail investors as noise traders, and financial institutions as market makers. To find any evidence of monopolistic behavior, we test the variants of trading volume and price data of the KOSPI 200 Futures over the period of 2009 and 2017. Results - First, we find that the price of the KOSPI 200 Futures are more volatile than the price of underlying asset. Second, we find that monopolistic foreign trader's trading order flows are consistent with exploiting his/her monopoly power to maximize profit. Finally, we find that retail investors' trading order flows are inversely consistent with maximizing profit, that is, uninformed retail investors suffer loss continuously in speculative trading against informed traders. Conclusions - Our results show that the quantity of strategic order flows may have a large effect on the price, therefore, resulting the market inefficiency. The results also imply that, in implementing regulations, the depth of the market must be considered to maintain market liquidity, and suggesting interesting research topics regarding the market structure.

• Proceedings of the Korean Society of Soil and Groundwater Environment Conference
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• 1996.11a
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• pp.39-49
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• 1996

Hundreds of contaminated sites have been generated due to the past mismagement of toxic substances, the lack of adequate environmental controls and ignorance of the potential environmental impacts of general activities in Canada. The general public, industry and governments have been addressing the contaminated sites with a number of cleanup responses. Environmental protection and remediation have become top priorities for the public and private sectors alike in Canada. Between the late 1980s and the early 1990s, the Canadian Environmental Protection Act and Canada's Green Plan were followed by provincial and territorial laws and policies to regulate contaminated sites. The National Contaminated Site Remediation Program(NCSRP) was initiated in 1989. It has been administered through bilateral agreements between the federal and participating provincial/territorial governments. They have committed a total of $250 million toward orphan site cleanup and technology development/demonstration over a five year period. The federal government has committed an additional $25 million to assess contaminated sites on federal crown land. Over 40 orphan high-risk contaminated sites, over 230 federal sites and over 35 technology development/demonstration projects have been addressed. The Canadian Council of Ministers of the Environment has developed a series of guidance documents to ensure a consistent and successful implementation of the Program. The management/regulation scheme of contaminated sites generally consists of： 1) identifying and investigating sites, 2) determining site contamination, 3) recognizing responsibility and liability, 4) assessing priority for remediation, 5) activation, evaluation and implementing remediation options, and 6) documenting remediation completion. The NCSRP supported the successful development/demonstration of a wide range of innovative remedial technologies. They are related to stabilization/solidification, thermal washing/flushing, advanced oxidation, sonics, and groundwater contaminated with hydrocarbons, PAHS, PCBs, heavy metals, and other hazardous pollutants in a variety of site environments.

• Korean journal of food and cookery science
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• v.7 no.4
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• pp.23-34
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• 1991

This study was to investigate consumer recognition of food safety and food additives. The results of this study are as follows: 1. When shopping for food, the food safety was rated as foremost concern for the respondents and the details checked most often were manufacture date, packing condition and axpiration date, respectively. When asked their opinion about harmful factors in relation to food safety, the most important consideration was food additives. The highest rating for credibility regarding the sources of information on food was given to scientists in university and institute, lowest one was given to food manufacturer. 2. Government regulation on the use of food additives was known to exist, but control of the uses of food additive was considered inadequate by 60% of the respondents. These results showed significant differences for age (p<0.05), for education level (p<.01) and for income (p<.05) respectively. 3. 47.9% of the respondents indicated that they were willing to purchase the additive free foods, although it was expensive. More than 70% made an effort to eat food with less food additive and were concerned about possible effects of food additives on health, showing significant differences for age (p<0.05), for education level (p<0.05) and for income (p<0.05). 4. Labeling for food additive found on food package was shown to be unsatisfactory, showing significant difference only for income (p<0.05) and more information about food was needed by over 91.3% of the respondents, showing significant difference for education level (p<0.05). 5. Although approximately 80% of the respondents were concerned about artificial preservative, artificial flavor, artificial color and artificial sweetener, the concern about artificial preservative was the highest. Primary causes that respondents felt fear toward food additives were the unknown harms and cancer, and primary sources that respondents got information on food were televison and radio, respectively. From these results, it was shown that consumer considered food safety important and they felt a great deal of concern about food additives.

• Journal of Korean Society of Occupational and Environmental Hygiene
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• v.25 no.2
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• pp.115-125
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• 2015

Objectives: The major objectives of this study are to review the EU CLP Regulations to propose ways of improving the reliability of MSDS and labels. Methods: To review the EU CLP Regulations, we used EU documents including directives and regulations on chemical management. In addition, we used EU governmental agency reports to illuminate the history and background of the CLP. We found the EU CLP's instruments for reliable hazard communication and evaluated the operations of the instruments. Results: EU CLP Regulations have four instruments for the EU CLP Regulations to make hazard communication reliable. These instruments are GHS, the harmonized CMR and respiratory sensitive substances classification list, C&L inventory and restriction of trade secrets. These are highly useful for achieving the objectives of REACH and CLP(no data-no market and changing the burden of proof). Conclusions: Changing the burden of proof is a key principle for achieving a society safe from hazardous chemicals. Chemical manufacturers and importers alone should bear the responsibility for reliable MSDS. We recommend benchmarking the EU CLP Regulations in order to change efficiently the burden of proof. Trade secrets should be limited to low-hazard substances and be approved by the government before the chemical product is on the market. Like the C&L inventory, chemical product information including substances identification and hazard properties should be notified, aggregated and be opened to public on the Internet. Finally, we recommend a MSDS registration system once again.

• Journal of Wetlands Research
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• v.6 no.4
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• pp.71-81
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• 2004

Recently the ecosystem has been seriously damaged by reckless development. The Ministry of Environment is now shifting its policy from one of "end-of-pipe" management and being regulation-centered to one striving to be preparatory and self-regulating. The nature conservation plan has been focused on protecting only the wildlife, so a systematic conservation of the nationwide ecosystem is inherently limited. To go beyond this limit, the strengthening of the link between the natural environmental conservation plan and the land use development plan is necessary. This study first diagnosed the "AS-IS" status of the natural environment conservation planning process and then envisioned a "TO-BE" image of the organic link between that plan and the land/metropolitan development plan. In conclusion, it was determined that the system of planning should be reformed and the focus of the planning should be shifted from source oriented planning to spatial environment planning. A biotope map should be drawn during this process and the examination criteria, methodology, and drawing standards are needed. The central government and self-governing bodies should have reasonable roles and responsibilities, and cooperate for more efficient conservation planning.

• Journal of Biosystems Engineering
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• v.38 no.2
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• pp.103-112
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• 2013

Background: The Korean government launched a project in 2008, where the amount of rice used as raw ingredient in rice-based foods in 2012 was planned to increase up to 10% (470,000 ton) of the total rice production through developing various new rice-based processed foods and their commercial manufacturing technology. Among the four major rice-based processed foods, rice cakes and noodles need rice flour as their main raw ingredient. Technology in rice flour utilization and manufacturing is far behind than the technology pertinent to wheat flour in many subject areas. Purpose: This review aims to provide information on rice flour utilization and manufacturing with some fundamental subjects in the area of size reduction. Results: A variety of food items including bread, noodle, cake, cookie, muffin, pre-mix, beverage, vinegar, surimi, and artificial meat have found rice flour as their raw ingredient. Rice bread made out of 100% rice flour has been developed and is now sold in retail stores. Various noodle products made from rice flour are also on the market. Issues on product definition and labeling regulation about rice flour content of the products were explored. Generalized grinding equations available in the literature were seldom used in practice; instead, it has been a general practice to develop empirical equations from test milling data. Introductory remarks on three popular particle size measurement methods (sieving, Coulter counter, light diffraction) were explained. Mathematical expressions frequently used to describe particle size distribution and to correlate cumulative quantity of particles with particle size were represented. Milling methods used in producing rice flour were described along with their advantages and disadvantages. Because of their profound effect on functional properties of the rice flour, four rice flour milling equipments used at both laboratory experiments and commercial manufacturing plants were discussed.

• Journal of Environmental Impact Assessment
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• v.23 no.4
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• pp.237-250
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• 2014

A wide range of projects for ocean renewable energy are currently in development around the world and ocean energy industries continue to receive significant support from their governments. Surrounded by sea on three sides, Korea has potentially abundant renewable ocean energy resources, which include tidal current, tidal range, offshore wind power, osmotic pressure and ocean thermal energy. Numerous ocean renewable energy projects has been developed in Korea. Nevertheless, there are some concerns that those developments often select an environmentally unsuitable location and/or there are very few existing information on those environmental effects. The purpose of this study is to improve supporting policies and regulation systems of ocean renewable energy development in Korea by reviewing and compiling government policies and environmental assessment systems related to ocean renewable energy development around the world. The study suggests several policy implications for its environmental-friendly development in Korea, including requirements of strategic environmental assessment for proactive and environmentally suitable site selection of ocean renewable energy development and continuous post-development environmental monitoring, and so on.

• Journal of Internet Computing and Services
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• v.15 no.5
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• pp.123-132
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• 2014

Internet is composed of many independent networks referred to as Internet Service Providers (ISPs) and each provider is generally interconnected based on a commercial agreement. Though many countries are engaged in deregulation in internet interconnection, there is still debate whether the large ISPs are unwilling to peer with small providers, have incentives to lower the quality of data transmission of transit operators or set the interconnection charge regarding the actual costs incurred by the interconnection. Korean government introduced regulations in internet interconnection after observing noticeable anti-competitive behaviors from 2005. This paper analyzes whether there is margin squeeze problem/market concentration, and suggests political proposals in Korean regulation status.

• Journal of the Korean Society of Food Culture
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• v.19 no.4
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• pp.447-459
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• 2004

Fortified foods are consumed widely in modem society according to increased concern on health oriented foods. This study investigated the patterns of vitamin-and/or mineral-fortified food use among 677 teenage students(13-18 years of age) in Chungnam province and Daejeon city in Korea using questionnaire. More than 63.7% of total subjects consumed more than one package of fortified foods belonged to more than three categories of five categories including sweets/biscuits, ramyons, beverages, milk and dairy products, and breads as a frequency of more than 1-2 times/week during previous three months prior to present survey. Consumption of fortified foods was higher in middle school students than in high school students(p<0.05), and in females than in females(p<0.001). Users of fortified foods took the snacks more often(p<0.001), and they tended to believe more positively that fortification can be helpful in health maintenance than did non-users. Users preferred vitamin C and Ca(calcium) as a fortified nutrient. Major fortified nutrients in fortified foods taken by users were various; vitamin B-complex and Ca from sweets/biscuits, Ca from ramyons, vitamin C and Ca from beverages, Ca and iron from milk and dairy products and breads. These results suggest that fortified foods are used commonly and are influenced by several factors among teenagers. Types of fortified nutrient, in fortified foods taken by subjects, are various and fortification is performed unspecifically. As a consequence both nutrition education and government regulation on fortified foods should be enforced to maximize the benefits and minimize the hazard of their use.