• Title/Summary/Keyword: Holding Cost

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Growth Performance and Carcass Evaluation of Jeju Native Cattle and Its Crossbreds Fed for Long Fattening Period

  • Lee, W.S.;Oh, W.Y.;Lee, S.S.;Khan, M.A.;Ko, M.S.;Kim, H.S.;Ha, J.K.
    • Asian-Australasian Journal of Animal Sciences
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    • v.20 no.12
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    • pp.1909-1916
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    • 2007
  • This study compared the growth performance and carcass evaluation of Jeju native cattle (JNC) and its crossbreds (CBK = 25 JNC:50 Charolais:25 Brahman and BCBK = 62.5 JNC:25 Charolais:12.5 Brahman). Eight male calves of each JNC, CBK and BCBK were weaned at 4 month of age and were fed for 24 months of age. All animals grazed a pasture between 5 to 10 months of age then they were fed growing ration at the rate of 1.5% of their BW along with ad libitum supply of Italian ryegrass hay between 11 to 16 months of age and thereafter switched to ad libitum feeding of finishing ration and hay between 17 to 24 months of age. Mean body weight (BW) and BW gain were higher in CBK compared with BCBK and JNC at 4, 10, 16 and 24 months of age. Average daily BW gain during 4 to 10 months of age was the highest for CBK followed by BCBK and JNC. However, daily BW gain was higher in BCBK than in CBK and JNC during 11 and 16 months of age. During fattening period (17 to 24 months) average daily BW gain was higher in JNC than in CBK and BCBK. Slaughter weight, hot and cold carcass weight were higher in CBK compared with JNC and BCBK. Weight of bones, boneless meat, ribs, excluded rib meat, retailed cut meat, tender loin, sir loin, strip loin, sticking, top round, bottom round, fore leg, shank, and thin-flank were higher in CBK than in BCBK and JNC. Fat weight in these carcass cuts and kidney fat was similar in JNC and its crossbreds. Logissimus dorsi and its ratio were higher in CBK compared with BCBK and JNC. Percent moisture, crude protein, and ash contents of beef were similar in JNC and its crossbreds. Percent beef fat was higher in JNC and BCBK than in CBK. Cooking loss and water holding capacity of beef was similar in JNC and its crossbreds. Sheer force was lower in BCBK compared with JNC and CBK. Juiciness, tenderness and flavor of beef were higher in BCBK compared with JNC and CBK. In conclusion, CBK has shown higher growth rate and produced heavier carcasses with good degree of fatness compared with JNC and BCBK. However, fattening for longer period could increase the maintenance cost in CBK and BCBK because of their higher BW which they attained during growing period.

Mixture Study for Early-age Strength Improvement of NAC-typed High-strength Concrete Piles (NAC 방식 고강도 콘크리트 파일의 초기강도증진을 위한 배합에 대한 연구)

  • Yi, Seong Tae;Noh, Jae Ho;Heo, Hyung Seok
    • Journal of the Korea institute for structural maintenance and inspection
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    • v.16 no.2
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    • pp.58-64
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    • 2012
  • Due to the influence of global oil prices, industrial productivity, which oil consumption is high, was significantly reduced. AC type of high-strength PHC piles is being manufactured through twice the steam curing process and this have resulted in a significant rise for product's manufacturing costs. NAC way other types of file manufacturing process has the advantage of reducing manufacturing costs by a turn of the steam curing. Nevertheless, because the initial strength be poor than that of AC method, shipment is being after the curing period of approximately three days. In addition, the growth of the product enhance with curing period can not be avoided, as a result, cost of inventory is acting as the rise. Piles by the AC method is immediately shipped after curing, damaging problems does not occur when they are introduced to the field site (for example, pile on-site). In the case of NAC, however, at least after the curing period of three days and after expressing the strength of 80 MPa or more, they are shipped on the scene. Therefore, NAC type has problems as follows: (1) increase in moderate inventory holding costs with type and (2) breakage in the field due to lack of strength. In this study, for NAC-typed PHC files, mixing characteristics research for the strength development at 1 day equivalent to AC method were conducted and strength characteristics with changes of original materials were evaluated were also identified.

How to Improve the Competency of Agency CM Companies to Conduct the CM at Risk Projects? (용역형 CM사가 책임형 CM 프로젝트를 수행하기 위해 필요한 역량)

  • Jeon, Myeongsik;Kang, Youngcheol
    • Korean Journal of Construction Engineering and Management
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    • v.22 no.6
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    • pp.44-54
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    • 2021
  • As the CM at Risk market grows recently, designers and CM companies that have been performing agency CM services have been showing their interests to participate in the CM at Risk projects. With the assumption that agency CM companies with a lot of experiences and know-how in the field of construction project management have created the circumstances to enter the CM at Risk market, this study investigates the competencies necessary for the agency CM companies to carry out the CM at Risk projects. The compentencies to run the CM at Risk projects were identified based on the literature review. A survey was conducted to identify the competencies that need to be supplemented first. The survey results revealed that competency related to partner companies, finance and guarantee, risk and claim, and project cost were identified to have a higher level of complementation compared to other competencies. In addition, considering that the level of competency that need to be secured is high, as the level of holding of all competency is on average 76% of the required level, in the beginning, small-scale CM at Risk projects with relatively low risk are mainly carry out, strengthening competency and then increasing the scale is considered more appropriate strategy.

A Study on Recent Discussions ahout the Pysician's Explanation in Medical Litigation (의료소송에서 의사의 설명에 대한 최신 지견)

  • Baek, Kyounghee
    • The Korean Society of Law and Medicine
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    • v.24 no.4
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    • pp.37-63
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    • 2023
  • In medical litigation, there are various cases where a doctor's 'explanation' of a patient becomes problematic. Medical explanations and guidance are required from the doctor, starting from the beginning of diagnosis, through treatment processes such as surgery, when hospitalization is necessary for treatment, during hospitalization, upon discharge, and after discharge. Furthermore, notification from the doctor or medical institution may be requested regarding the economic costs that will be incurred due to medical treatment. South Korea's judiciary has been developing legal principles regarding such doctor's explanations by distinguishing between explanations for obtaining consent for medical treatment and medical explanations related to guidance on patient treatment methods, taking into account related laws such as the stage of treatment and the Medical Service Act. Additionally, the Constitutional Court recently ruled on the non-benefit cost notification system linked to the explanation of economic costs. However, holding a doctor accountable solely because the doctor's explanation was insufficient has aspects that do not correspond to the actual situation in clinical reality, and may have a reflexive disadvantage that results in a decline in legal rights. Therefore, the doctor's explanation needs to be examined from both perspectives: guaranteeing the patient's right to self-determination and protecting his or her right to decision.

Returns and Resale Price Maintenance in Book Distribution (도서유통(圖書流通) 효율화(效率化)를 위한 공정거래정책(公正去來政策))

  • Shin, Kwang-shik
    • KDI Journal of Economic Policy
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    • v.13 no.2
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    • pp.141-161
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    • 1991
  • Resale price maintenance has long been employed in book distribution, perhaps longer than for any other product. Another unusual practice in the book trade that has proven to be quite durable in spite of its substantial cost in real resources is the returns policy. Publishers typically grant the right to return unsold books within a stipulated time for full credit against future orders. This paper investigates the functions and effects of resale price maintenance in the book trade, and argues that resale price maintenance and returns are substitute methods of providing the same economic function. Resale price maintenance can be used to compensate booksellers for initially stocking books with uncertain prospects and for providing a conduit through which manufacturers acquire information about consumer demand (market testing services). Permitting the return of unsold books for full credit places a floor under retail prices and transfers a considerable portion of the cost of introducing a new product line back to the publisher. Both reflect publishers' needs to have their books displayed. In the U.S. returns privileges were first proposed in 1913, roughly coincident with the Macy decision outlawing RPM. Publishers slowly granted return privileges, which become nearly universal by 1970. The decline in margins in recent years has been accompanied by an increase in returns as the return policy served to substitute for lost margins on successful titles as a methods of compensating full-line booksellers. In contrast, returns privileges are unusual in countries where price maintenance in books has been practiced. These observations are consistent with our analysis. In Korea, resale price maintenance of books is practiced under an exception to Korean antitrust law. The availability of effective price maintenance is likely to reduce the use of returns programs. Since consumers prefer to obtain books at outlets where they know the books are likely to be stocked rather than taking a chance on stores that carry a more limited line, it also provides a strong incentive for booksellers to expand. But the privilege of resale price maintenance should be confined to books which publishers want to be price maintained. Resale price maintenance and returns system differ in the transactions costs associated with inventory holding, and publishers' judgement on the comparative advantage of the two schemes should be honored. Publishers should also remain free to authorize sales at discount at any time not to impair the ability of booksellers to dispose of product variants that prove unpopular.

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Effects of Dietary Nutrient Levels on Growth Performance, Blood Urea Nitrogen, and Meat Quality in Finishing Pigs (비육돈에 있어서 영양소 및 원료 첨가수준이 다른 사료의 급여가 생산성, 혈중 요소태질소 및 육질특성에 미치는 영향)

  • Shin, Seung-Oh;Cho, Jin-Ho;Kim, Hae-Jin;Chen, Ying-Jie;Yoo, Jong-Sang;Wang, Yuan;Huang, Yan;Kim, In-Ho
    • Food Science of Animal Resources
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    • v.27 no.4
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    • pp.387-391
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    • 2007
  • This study was conducted to evaluate effects of dietary nutrient levels on growth performance, blood urea nitrogen, and meat quality in finishing pigs. A total of ninety six pigs ($Landrace{\times}Yorkshire{\times}Duroc$) were used in this 66 day study. Dietary treatments included 1) T1 (ME 3,441 kcal/kg, CP 16.30%, Lysine 0.93%), 2) T2 (ME 3,433 kcal/kg, CP 17.00%, Lysine 1.00% and 3) T3 (ME 3,449 kcal/kg, CP 17.00%, Lysine 1.00%). During the overall period, there were no significant differences in ADG (average daily gain), ADFI (average daily feed intake), gain/feed ratio or BUN (blood urea nitrogen) among the treatments (p>0.05). The $b^*$ value of M. longissimus dorsi muscle color significantly increased (p<0.05) with T3 treatment compared to T2 treatment. However, there were no differences in the $L^*\;and\;a^*$ values, pH, M. logissimus dorsi area, drip loss, cooking loss, TBARS and WHC (water holding capacity) for pigs fed the various treatments (p>0.05). The total feed cost per kg of weight gain was not significantly different among the various dietary treatments (p>0.05). In conclusion, these results show no effects of dietary nutrient levels on growth performance and meat quality in finishing pigs, and also suggest that a high nutrient density diet may not be a beneficial feeding strategy for finishing pigs in terms of cost.

An analysis on the possession and infringement of copyright on the contents-related contest exhibit (콘텐츠 관련 공모전의 저작권 소유와 저작권 침해 분석)

  • Park, Keong-Cheol;Jung, Sun-Mee
    • Cartoon and Animation Studies
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    • s.29
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    • pp.243-266
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    • 2012
  • As contest exhibits have been activated, a variety of organizations are holding contest with various purposes. Analysis on the guidelines prepared by various sponsoring bodies ranging from public organizations to privately owned businesses shows that sponsoring bodies tend to possess copyrights of entries. Parts of guidelines of contest exhibit are the contract. While sponsoring body shows its opinion on copyright through guidelines, individual participant tends to consider it simply as a form to submit for contest exhibit rather than a contract. Now is the time to bring out a question in respect of the copyright on the contest exhibit. The important fact is that copyright on corporate contents is important, but copyright on individual contents is equally important and it must be protected and respected. This study aims to bring out a question on copyright by analyzing possession and infringement of copyright that stands forth in the guidelines of contest exhibit. Provisions on copyright of contest exhibit play a role as a contract. Provisions on copyright of contest exhibit shall be the ones which can be understood and accepted by both sponsoring body and winner who are the A and B of a contract. For this, change in perception of sponsoring bodies ranging from public organizations to privately owned businesses with prominent position is strongly required. For the foregoing, First, Indication of Copyright: Clear and concrete terms must be used. Second, Scope of Interpretation: Concrete and detailed indication must be made for preventing indication that allows comprehensive interpretation. Third, Cost for Author's Property Right: In case sponsoring body needs to possess or use the author's property right of prize-winning work, proper rights on use considering prize money corresponding to possession or use of author's property right must be indicated. Fourth, Term of Use: The term for using author's property right must be indicated. Fifth, Scope of Rights: The scope of author's property right that sponsoring body requires must be limited and indicated. Sixth, Mutual Respect: Items related to copyright must be indicated on the basis of the concept of bilateral contract founded on mutual consideration and respect, not on the concept of unilateral contract.

Removable implant-supported partial denture using milled bar with Locator® attachments in a cleft lip & palate patient: A clinical report (구순구개열 환자에서 Locator® 유지장치가 장착된 milled titanium bar를 이용한 가철성 임플란트 피개 국소의치의 보철수복증례)

  • Yang, Sang-Hyun;Kim, Kyoung-A;Kim, Ja-Yeong;Seo, Jae-Min
    • The Journal of Korean Academy of Prosthodontics
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    • v.53 no.3
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    • pp.207-214
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    • 2015
  • Due to the limitations of conventional removable partial denture prostheses to treat a cleft lip & palate patient who shows scar tissue on upper lip, excessive absorption of the maxillary residual alveolar ridge, and class III malocclusion with narrow palate and undergrowth of the maxilla, 4 implants were placed on the maxillary edentulous region and a maxillary removable implant-supported partial denture was planned using a CAD/CAM milled titanium bar. Unlike metal or gold casting technique which has shrinkage after the molding, CAD/CAM milled titanium bar is highly-precise, economical and lightweight. In practice, however, it is very hard to obtain accurate friction-fit from the milled bar and reduction in retention can occur due to repetitive insertion and removal of the denture. Various auxiliary retention systems (e.g. $ERA^{(R)}$, $CEKA^{(R)}$, magnetics, $Locator^{(R)}$ attachment), in order to deal with these problems, can be used to obtain additional retention, cost-effectiveness and ease of replacement. Out of diverse auxiliary attachments, $Locator^{(R)}$ has characteristics that are dual retentive, minimal in vertical height and convenient of attachment replacement. Drill and tapping method is simple and the replacement of the metal female part of $Locator^{(R)}$ attachment is convenient. In this case, the $Locator^{(R)}$ attachment is connected to the milled titanium bar fabricated by CAD/CAM, using the drill and tapping technique. Afterward, screw holes were formed and 3 $Locator^{(R)}$ attachments were secured with 20 Ncm holding force for additional retention. Following this procedure, satisfactory results were obtained in terms of aesthetic facial form, masticatory function and denture retention, and I hereby report this case.

A study on the prediction of korean NPL market return (한국 NPL시장 수익률 예측에 관한 연구)

  • Lee, Hyeon Su;Jeong, Seung Hwan;Oh, Kyong Joo
    • Journal of Intelligence and Information Systems
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    • v.25 no.2
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    • pp.123-139
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    • 2019
  • The Korean NPL market was formed by the government and foreign capital shortly after the 1997 IMF crisis. However, this market is short-lived, as the bad debt has started to increase after the global financial crisis in 2009 due to the real economic recession. NPL has become a major investment in the market in recent years when the domestic capital market's investment capital began to enter the NPL market in earnest. Although the domestic NPL market has received considerable attention due to the overheating of the NPL market in recent years, research on the NPL market has been abrupt since the history of capital market investment in the domestic NPL market is short. In addition, decision-making through more scientific and systematic analysis is required due to the decline in profitability and the price fluctuation due to the fluctuation of the real estate business. In this study, we propose a prediction model that can determine the achievement of the benchmark yield by using the NPL market related data in accordance with the market demand. In order to build the model, we used Korean NPL data from December 2013 to December 2017 for about 4 years. The total number of things data was 2291. As independent variables, only the variables related to the dependent variable were selected for the 11 variables that indicate the characteristics of the real estate. In order to select the variables, one to one t-test and logistic regression stepwise and decision tree were performed. Seven independent variables (purchase year, SPC (Special Purpose Company), municipality, appraisal value, purchase cost, OPB (Outstanding Principle Balance), HP (Holding Period)). The dependent variable is a bivariate variable that indicates whether the benchmark rate is reached. This is because the accuracy of the model predicting the binomial variables is higher than the model predicting the continuous variables, and the accuracy of these models is directly related to the effectiveness of the model. In addition, in the case of a special purpose company, whether or not to purchase the property is the main concern. Therefore, whether or not to achieve a certain level of return is enough to make a decision. For the dependent variable, we constructed and compared the predictive model by calculating the dependent variable by adjusting the numerical value to ascertain whether 12%, which is the standard rate of return used in the industry, is a meaningful reference value. As a result, it was found that the hit ratio average of the predictive model constructed using the dependent variable calculated by the 12% standard rate of return was the best at 64.60%. In order to propose an optimal prediction model based on the determined dependent variables and 7 independent variables, we construct a prediction model by applying the five methodologies of discriminant analysis, logistic regression analysis, decision tree, artificial neural network, and genetic algorithm linear model we tried to compare them. To do this, 10 sets of training data and testing data were extracted using 10 fold validation method. After building the model using this data, the hit ratio of each set was averaged and the performance was compared. As a result, the hit ratio average of prediction models constructed by using discriminant analysis, logistic regression model, decision tree, artificial neural network, and genetic algorithm linear model were 64.40%, 65.12%, 63.54%, 67.40%, and 60.51%, respectively. It was confirmed that the model using the artificial neural network is the best. Through this study, it is proved that it is effective to utilize 7 independent variables and artificial neural network prediction model in the future NPL market. The proposed model predicts that the 12% return of new things will be achieved beforehand, which will help the special purpose companies make investment decisions. Furthermore, we anticipate that the NPL market will be liquidated as the transaction proceeds at an appropriate price.

A Study on Forest Insurance (산림보험(山林保險)에 관한 연구(硏究))

  • Park, Tai Sik
    • Journal of Korean Society of Forest Science
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    • v.15 no.1
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    • pp.1-38
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    • 1972
  • 1. Objective of the Study The objective of the study was to make fundamental suggestions for drawing a forest insurance system applicable in Korea by investigating forest insurance systems undertaken in foreign countries, analyzing the forest hazards occurred in entire forests of Korea in the past, and hearing the opinions of people engaged in forestry. 2. Methods of the Study First, reference studies on insurance at large as well as on forest insurance were intensively made to draw the characteristics of forest insurance practiced in main forestry countries, Second, the investigations of forest hazards in Korea for the past ten years were made with the help of the Office of Forestry. Third, the questionnaires concerning forest insurance were prepared and delivered at random to 533 personnel who are working at different administrative offices of forestry, forest stations, forest cooperatives, colleges and universities, research institutes, and fire insurance companies. Fourth, fifty three representative forest owners in the area of three forest types (coniferous, hardwood, and mixed forest), a representative region in Kyonggi Province out of fourteen collective forest development programs in Korea, were directly interviewed with the writer. 3. Results of the Study The rate of response to the questionnaire was 74.40% as shown in the table 3, and the results of the questionaire were as follows: (% in the parenthes shows the rates of response; shortages in amount to 100% were due to the facts of excluding the rates of response of minor respondents). 1) Necessity of forest insurance The respondents expressed their opinions that forest insurance must be undertaken to assure forest financing (5.65%); for receiving the reimbursement of replanting costs in case of damages done (35.87%); and to protect silvicultural investments (46.74%). 2) Law of forest insurance Few respondents showed their views in favor of applying the general insurance regulations to forest insurance practice (9.35%), but the majority of respondents were in favor of passing a special forest insurance law in the light of forest characteristics (88.26%). 3) Sorts of institutes to undertake forest insurance A few respondents believed that insurance companies at large could take care of forest insurance (17.42%); forest owner's mutual associations would manage the forest insurance more effectively (23.53%); but the more than half of the respondents were in favor of establishing public or national forest insurance institutes (56.18%). 4) Kinds of risks to be undertaken in forest insurance It would be desirable that the risks to be undertaken in forest insurance be limited: To forest fire hazards only (23.38%); to forest fire hazards plus damages made by weather (14.32%); to forest fire hazards, weather damages, and insect damages (60.68%). 5) Objectives to be insured It was responded that the objectives to be included in forest insurance should be limited: (1) To artificial coniferous forest only (13.47%); (2) to both coniferous and broad-leaved artificial forests (23.74%); (3) but the more than half of the respondents showed their desire that all the forests regardless of species and the methods of establishment should be insured (61.64%). 6) Range of risks in age of trees to be included in forest insurance The opinions of the respondents showed that it might be enough to insure the trees less than ten years of age (15.23%); but it would be more desirous of taking up forest trees under twenty years of age (32.95%); nevertheless, a large number of respondents were in favor of underwriting all the forest trees less than fourty years of age (46.37%). 7) Term of a forest insurance contract Quite a few respondents favored a contract made on one year basis (31.74%), but the more than half of the respondents favored the contract made on five year bases (58.68%). 8) Limitation in a forest insurance contract The respondents indicated that it would be desirable in a forest insurance contract to exclude forests less than five hectars (20.78%), but more than half of the respondents expressed their opinions that forests above a minimum volume or number of trees per unit area should be included in a forest insurance contract regardless of the area of forest lands (63.77%). 9) Methods of contract Some responded that it would be good to let the forest owners choose their forests in making a forest insurance contract (32.13%); others inclined to think that it would be desirable to include all the forests that owners hold whenerver they decide to make a forest insurance contract (33.48%); the rest responded in favor of forcing the owners to buy insurance policy if they own the forests that were established with subsidy or own highly vauable growing stock (31.92%) 10) Rate of premium The responses were divided into three categories: (1) The rate of primium is to be decided according to the regional degree of risks(27.72%); (2) to be decided by taking consideration both regional degree of risks and insurable values(31.59%); (3) and to be decided according to the rate of risks for the entire country and the insurable values (39.55%). 11) Payment of Premium Although a few respondents wished to make a payment of premium at once for a short term forest insurance contract, and an annual payment for a long term contract (13.80%); the majority of the respondents wished to pay the premium annually regardless of the term of contract, by employing a high rate of premium on a short term contract, but a low rate on a long term contract (83.71%). 12) Institutes in charge of forest insurance business A few respondents showed their desire that forest insurance be taken care of at the government forest administrative offices (18.75%); others at insurance companies (35.76%); but the rest, the largest number of the respondents, favored forest associations in the county. They also wanted to pay a certain rate of premium to the forest associations that issue the insurance (44.22%). 13) Limitation on indemnity for damages done In limitation on indemnity for damages done, the respondents showed a quite different views. Some desired compesation to cover replanting costs when young stands suffered damages and to be paid at the rate of eighty percent to the losses received when matured timber stands suffered damages(29.70%); others desired to receive compensation of the actual total loss valued at present market prices (31.07%); but the rest responded in favor of compensation at the present value figured out by applying a certain rate of prolongation factors to the establishment costs(36.99%). 14) Raising of funds for forest insurance A few respondents hoped to raise the fund for forest insurance by setting aside certain amount of money from the indemnity paid (15.65%); others wished to raise the fund by levying new forest land taxes(33.79%); but the rest expressed their hope to raise the fund by reserving certain amount of money from the surplus money that was saved due to the non-risks (44.81%). 15) Causes of fires The main causes of forest fires 6gured out by the respondents experience turned out to be (1) an accidental fire, (2) cigarettes, (3) shifting cultivation. The reponses were coincided with the forest fire analysis made by the Office of Forestry. 16) Fire prevention The respondents suggested that the most important and practical three kinds of forest fire prevention measures would be (1) providing a fire-break, (2) keeping passers-by out during the drought seasons, (3) enlightenment through mass communication systems. 4. Suggestions The writer wishes to present some suggestions that seemed helpful in drawing up a forest insurance system by reviewing the findings in the questionaire analysis and the results of investigations on forest insurance undertaken in foreign countries. 1) A forest insurance system designed to compensate the loss figured out on the basis of replanting cost when young forest stands suffered damages, and to strengthen credit rating by relieving of risks of damages, must be put in practice as soon as possible with the enactment of a specifically drawn forest insurance law. And the committee of forest insurance should be organized to make a full study of forest insurance system. 2) Two kinds of forest insurance organizations furnishing forest insurance, publicly-owned insurance organizations and privately-owned, are desirable in order to handle forest risks properly. The privately-owned forest insurance organizations should take up forest fire insurance only, and the publicly-owned ought to write insurance for forest fires and insect damages. 3) The privately-owned organizations furnishing forest insurance are desired to take up all the forest stands older than twenty years; whereas, the publicly-owned should sell forest insurance on artificially planted stands younger than twenty years with emphasis on compensating replanting costs of forest stands when they suffer damages. 4) Small forest stands, less than one hectare holding volume or stocked at smaller than standard per unit area are not to be included in a forest insurance writing, and the minimum term of insuring should not be longer than one year in the privately-owned forest insurance organizations although insuring period could be extended more than one year; whereas, consecutive five year term of insurance periods should be set as a mimimum period of insuring forest in the publicly-owned forest insurance organizations. 5) The forest owners should be free in selecting their forests in insuring; whereas, forest owners of the stands that were established with subsidy should be required to insure their forests at publicly-owned forest insurance organizations. 6) Annual insurance premiums for both publicly-owned and privately-owned forest insurance organizations ought to be figured out in proportion to the amount of insurance in accordance with the degree of risks which are grouped into three categories on the basis of the rate of risks throughout the country. 7) Annual premium should be paid at the beginning of forest insurance contract, but reduction must be made if the insuring periods extend longer than a minimum period of forest insurance set by the law. 8) The compensation for damages, the reimbursement, should be figured out on the basis of the ratio between the amount of insurance and insurable value. In the publicly-owned forest insurance system, the standard amount of insurance should be set on the basis of establishment costs in order to prevent over-compensation. 9) Forest insurance business is to be taken care of at the window of insurance com pnies when forest owners buy the privately-owned forest insurance, but the business of writing the publicly-owned forest insurance should be done through the forest cooperatives and certain portions of the premium be reimbursed to the forest cooperatives. 10) Forest insurance funds ought to be reserved by levying a property tax on forest lands. 11) In order to prevent forest damages, the forest owners should be required to report forest hazards immediately to the forest insurance organizations and the latter should bear the responsibility of taking preventive measures.

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