• KDI Journal of Economic Policy
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• v.46 no.1
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• pp.21-51
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• 2024

Since the Global Financial Crisis of 2008-2009, the importance of nonbank financial institutions in macroprudential management has increased significantly. Consequently, major countries and international financial institutions have been actively discussing and implementing macroprudential supervision and regulation for non-bank financial institutions (NBFI). In this context, this paper analyzes the systemic risk of both banks and non-bank sectors (securities firms and insurance companies) in South Korea over different time periods. Using the widely recognized ΔCoVaR methodology for measuring systemic risk, the analysis reveals that systemic risk increased substantially across all three sectors (banks, securities firms, and insurance companies) during the Global Financial Crisis, the European Sovereign Debt Crisis, and the COVID-19 pandemic. Although the banking sector exhibited relatively high systemic risk compared to the securities and insurance sectors, the relative differences in systemic risk varied across the different crisis periods. Notably, during the margin call crisis in March of 2020, the gap in systemic risk between the banking and securities sectors decreased significantly compared to that during both the Global Financial Crisis and the European Sovereign Debt Crisis, indicating that securities firms had a more substantial impact on risk in the overall financial system during this period. Furthermore, I analyze the impact of the issuance of equity-linked securities (ELS) by financial institutions on systemic risk, as measured by ΔCoVaR, finding that an increase in the outstanding balance of ELS issuance by financial institutions had an impact on increasing ΔCoVaR during the three crisis periods. These findings underscore the growing importance of non-bank financial institutions in relation to South Korea's macroprudential management and supervision. To address this evolving landscape, enhanced monitoring and regulatory measures focusing on non-bank systemic risk are essential components of maintaining financial stability in the country.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.33 no.1
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• pp.76-87
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• 2015

The present study examines the Saekgyeong (Classic of Husbandry; 1676), an agricultural manual dating from the Joseon Dynasty (1392-1910), and the agricultural thought of its author by Park Se-dang (pen name: Seogye; 1629-1703), a scholar. Its purpose lies in exploring the value of contemporary urban agriculture based on an examination of the attitudes toward agriculture, the values pursued through agriculture, and the ways of dealing with and using land as evinced by the classic and its author. Confirmed through an examination of Park's agricultural philosophy and the Saekgyeong, the results of the present study are as follow. First, there is the socioeconomic value of pursuing the stability of and promoting the economic independence of indigent petty peasants through productivity improvement. Second, there is the experiential value of exploration through experience and agricultural field practice for study. Third, there is the environmental value of endeavoring to overcome an infertile natural environment through agricultural methods that sought to accommodate the land by reading the flow and phenomena of nature. Fourth, there is the practical value of compiling the Saekgyeong and seeking to broaden its use as a guidebook containing agricultural methods appropriate to the land and the wisdom for life.8) When examined in terms of contemporary urban agriculture, the significance of the four values above is as follows: the socioeconomic effect of encouraging urban agricultural activities as a means of welfare for socially alienated classes and promoting the creation of jobs; the enhancement of the significance of study through hands-on activities from an educational perspective; the recycling and recovery of resources and the enhancement of environmental consciousness for the recovery of urban ecology; and a practical spirit that seeks to contribute directly to society through academic research that contributes to practical life and approaches familiar to the populace. The present study sought to find the value of urban agriculture, under discussion in diverse ways in recent years, in the thoughts of our ancestors, who pondered on agriculture. Despite differences in the periodic background, the significance of the present study lies in its in-depth reexamination of the fundamental significance of diverse agricultural values that are being pursued today.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.30 no.3
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• pp.42-56
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• 2012

This study was carried out to investigate the construction characteristics and the landscaping design skill for Wiyiam at Ongnyucheon(玉流川) in the rear garden of Changdeok Palace focusing on constructing technique, space composition and transformational process of the site. The results of this study were summarized as follows; First, Wiyiam of Ongnyucheon was constructed as garden ornament which was modified the huge bedrock into the shape of the mountain. The waterfall of Wiyiam was originally made of torrent which water flowed into the bottom, but it was reconstructed to take the effect of Inak(離落: the method to drop water from high place) by carving rock into square shape at the era of King Gojong(高宗). Second, main characteristics of Wiyiam appeared in Donggwoldo was the hill built up with a square pond and ground at the back of Wiyiam and the profound scenery of mountains and stream from the view of Wiyiam. Also, pavilions such as Soyojeong(逍遙亭), Cheongujeong and Taegeukjeong(太極亭) built in Ongnyucheon seemed to be constructed as the spots to appreciate the view and waterfall sound of Wiyiam. Also the spots were not bounded by the function of creating special water systems such as Cheongujeong pond and Taegeukjeong pond and showed the outstanding landscape design skill to make people feel unusual interest from each spot. On the other hand, this study considered that the evening scenery of Wiyiam, beautiful sound of falling water, unusual water system with beautiful plant materials were landscaped for the function of the psychological peace and stability to the appreciators. Lastly, the extreme change of space composition in Ongnyucheon was assumed as a strategy to improve the existing poor drain environment by confirming that the mountain stream and wall of Soyojeong were removed and drainage in both side of Soyojeong was installed in the 21th year of King Gojong's reign(1884).

• Journal of Environmental Impact Assessment
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• v.8 no.2
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• pp.53-63
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• 1999

This study aims to develop a set of criteria for evaluating the sustainability of forest landuse, which could facilitate the environmentally friendly development of forest lands in Korea. The concept of sustainable development in forest landuse was reviewed from literature and by interviews with experts in forest-related fields. Delphi technique was employed for gathering experts' opinions. According to the results of Delphi test, the concept of sustainable development in forest landuse was confirmed as "Use of forest lands in a lasting manner within the carrying capacity of the ecosystem involved". There are 16 factors which should be considered with care when the development of forest lands is planned. They include the ratio of forest cover left undeveloped, ecological stability, and landscape naturalness. Among them are the ecological factors rated most important. The experts emphasized the importance of local characteristics in setting up the criteria for sustainable forestland development. The study did not attempted to apply the criteria to real settings. Therefore, before applications in real situations, further case studies should be made for the criteria to be safely used in landuse planning.

• Horticultural Science & Technology
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• v.33 no.3
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• pp.453-458
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• 2015

A new Hibiscus cultivar 'Daewangchun', having vigorous growth, uniform plant habit, upright, compact branches, and a long red eye was developed through interspecific crosses between H. syriacus 'Samchully' (♀) and H. sinosyriacus 'Seobong' (♂). The Hibiscus breeding program was initiated in 2005 and Hibiscus ${\times}$ 'Daewangchun' was preliminarily selected as '05-R-204' in 2 008 due to its vigorous growth and stable flower quality w ith rich pink flowers. The s elected line was further evaluated for different growth characteristics, leaf shape, leaf size, and flowering characteristics, as well as tested for distinctness, homogeneity, and stability during 2010-2012. The new cultivar 'Daewangchun' had violet pink flowers (RHS N80C) with a long red eye spot, medium size and fan petals. The size of flower was 12.0 cm and size of the red eye was 3.0 cm. Leaves were 8.7 cm long and 4.7 cm wide. After plant characteristic evaluation for 3 years (2010-2012), 05-R-204 was registered as cultivar 'Daewangchun' (4731, No. of plant variety protection rights) in 2013. This newly developed cultivar 'Daewangchun' has tall vigorous growth and unique flowers with a long red eye and can be used as specimen plants in landscaping.

• Journal of Dairy Science and Biotechnology
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• v.33 no.3
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• pp.171-177
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• 2015

In March 2015, the milk quota system in Europe that had lasted for more than 30 years was abolished to improve the competitiveness of the European dairy sector in the international market. Despite an increase in the consumption of dairy products in Europe, the milk price is expected to stabilize in the next decade after a decrease between 2015 and 2016. This stabilization of prices will be caused by a significant increase in production, with the proportion exceeding domestic demand to be exported. In the international market, the price of milk will reduce in the next decade, leading to a restructuring of the milk sector with a lower number of farms, but with higher production and efficiency. Mountain farms will follow the same trend, although these farms play an important social role by providing ecosystem services such as maintaining cultural services, reducing greenhouse gas emissions, promoting soil stability, and improving the aesthetic value of the landscape. Nevertheless, they remain at a disadvantage compared with lowland farms. To prevent the loss of mountain farms, there is thus a need to valorize the ecosystem services that they provide and promote the processing of milk into certified products of high quality.

• Journal of Environmental Science International
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• v.22 no.4
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• pp.435-442
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• 2013

The purpose of this study, the type of rooftop learn more about the psychological benefits to users has been carried out, and healthy college students were examined in 40 patients. Conduct research to make the rooftop of the type of lawn, trees, ecological garden, wetland biotope, flowering plant in Seoul were divided into six groups. Measurement methods based on the type designation of the Planting and landscape photography by once the participants for each 10 minutes to watch and mood state tests (POMS) and the mean fractionation (SD), based on survey information about the psychological effects were correlated. Mood States test lawn, tree-oriented type, flowering plant stability in type, kindness, openness, and the effect of raising warme there was a tension, anxiety, depression, anger inhibition was effective. In contrast, depression and fatigue are common rooftop greening, respectively. The results in terms of the psychological effects of the type of rooftop garden ecology and wetland biotope than lawn, tree-oriented type, flowering plant types of users with a positive psychological effect seemed to be better.

• Geomechanics and Engineering
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• v.22 no.6
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• pp.497-507
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• 2020

This paper presents the results of a three-dimensional numerical investigation into the effect of new tunnel construction on structural performance of existing tunnel lining. A three-dimensional finite difference model, capable of modelling the tunnel construction process, was adopted to perform a parametric study on the spatial variation of new tunnel location with respect to the existing tunnel with emphasis on the plan crossing angle of the new tunnel with respect to the existing tunnel and the vertical elevation of the new tunnel with respect to the existing one. The results of the analyses were arranged so that the effect of new tunnel construction on the lining member forces and stresses of the existing tunnel can be identified. The results indicate that when a new tunnel underpasses an existing tunnel, the new tunnel construction imposes greater impact on the existing tunnel lining when the two tunnels cross at an acute angle. Also shown are that the critical plan crossing angle of the new tunnel that would impose greater impact on the existing tunnel depends on the relative vertical location of the new tunnel with respect to the existing one, and that the overpassing new tunnel construction scenario is more critical than the underpassing scenario in view of the existing tunnel lining stability. Practical implications of the findings are discussed.

• Journal of Ecology and Environment
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• v.34 no.3
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• pp.269-278
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• 2011

Carabid beetle community changes in paddy fields, abandoned paddy fields, and mountains were investigated to understand differences in species diversity and composition of different habitat types in small agricultural landscapes in South Korea. A total of 2,938 individuals from 37 species were identified and classified from the studied habitats. Diversity in the mountains was higher than that in abandoned paddy fields. As the number of years since abandonment increased, the diversity and stability of the carabid beetle community also increased. Abandoned paddy fields in some paddy field areas and adjoining mountainous areas, left with preconditions for management and control, have provided the opportunity to improve the diversity and habitat of small agricultural landscapes. Species composition changed continuously from the paddy fields to the mountains, in accordance with individual species habitat preferences. Abandoned paddy fields in small agricultural landscapes are believed to play an important role as transitional buffer zones between paddy fields and the adjacent mountainous areas.

• Journal of Environmental Science International
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• v.27 no.9
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• pp.789-796
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• 2018

This study aims to measure the emotional effects of pet plants, which have become popular in recent years. A questionnaire regarding perceptions of these indoor plants was administered to 78 university students. Thirty of these students took care of two species of pet plants for 90 days, and the emotional effects of this exercise were determined based on the type of words used in their daily records. The questionnaire results showed that the general recognition of emotional effects was low, though awareness of the term "pet plants" was high. However, after gardening for 90 days, participants began to consider their pet plants friends or family members, noting feelings of affection and sympathy in their daily writeups. These participants also experienced positive changes in their emotional well-being, including feelings of joy, hope, relaxation, confidence, and accomplishment. This study argues that pet plants can have positive effects on emotional stability and suggests that their adoption would be beneficial to humanity at large.