• Journal of the Daesoon Academy of Sciences
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• v.23
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• pp.153-192
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• 2014

This article's purpose is to overcome the inadequacy of deliberative democracy for communication on the basis of Haewonsangsaeng. The inadequacy of deliberative democracy for communication is presented as the following two. First, as deliberative democracy treats civic virtue as instrumental thing, deliberative democracy is still in moral solipsism. Second, as deliberative democracy doesn't consider 'the inequality of power' among diverse political positions, the project of deliberative democracy for communication ends up in the exposure of the inequality of power among diverse political positions. Sangsaeng in Haewonsangsaeng concerned with inter-relationship over individualism treats civic virtue as original motility. In this context, Sangsaeng in Haewonsangsaeng is the alternative notion to overcome the first inadequacy of deliberative democracy for communication. Haewon in Haewonsangsaengas is the condition for Sangsaeng. and Haewon's method is to exclude or to eliminate the structural frame of Sanggeuk meaning mutual conflict and antagonism. This article presents two structural frame of Sanggeuk. First, First structural obstacle as internal obstacle is suggested through analyzing pluralism on the basis of existential philosophy. The result of the analysis is the 'antagonism' between the hegemonical value and the peripheral value. Second structural obstacle as external obstacle is the extinction of public sphere caused by the growth of market and the expansion of bureaucracy.

• International Area Studies Review
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• v.15 no.1
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• pp.59-86
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• 2011

This paper examines a country's strategic optimal tariff policy against a foreign firm with market power. That is, the purpose of the paper is, under asymmetric information, to reexamine the problem of optimal tariff policy against a foreign monopolist from another country's welfare standpoint. This is to extend the analysis of Brander and Spencer(1984) which is both analytic and elaborate. The incentive compatible tariff schedule is derived, and then policy implications are investigated. The main result is that, under incomplete information, the optimal tariff is elevated above its full-information counterpart in order to capture foreign rents. Moreover, it suggests that trade policies motivated by rent extraction are unlikely to be robust to the introduction of incomplete information. This research complements an existing literature on the strategic trade policy in terms of asymmetric information.

• Journal of Industrial Convergence
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• v.21 no.2
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• pp.133-138
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• 2023

Due to social phenomena such as rapid aging in Korea, nuclear familyization, single marriage, and low birth rate, the number of Companion animals and the number of households with Companion animals are increasing due to the increase in single-person households. In fact, one out of every four households has a pet, and the scale of the industry is expected to reach 6 trillion won in 2027. In particular, in a situation where the Companion animal cosmetics market is in the spotlight amid the diversification of the pet industry, there is a great lack of research on related research and industry development methods. Accordingly, this study attempted to search and analyze academic data, patented technologies, and the latest data related to pet cosmetics and provide them as basic data for the Companion animal cosmetics industry, and the results are as follows. Academic data included verification of the effectiveness of natural materials to improve the skin condition of dogs, analysis of the pet cosmetics industry, and research on ICT-converged pet cosmetics, and the industry was mainly cleaning cosmetics, with pet shampoo launches in Amorepacific, LG Household & Healthcare, and Aekyung. In the patented technology for pets, a patent has been registered for natural product material composition and formulation ratio for skin moisturizing, skin improvement, thinning, and inflammation symptom relief. As a result of this award, it was confirmed that research and development are still insufficient compared to the consumption demand of the pet cosmetics market, and it is believed that industry analysis and development research in related fields should be actively carried out.

• Journal of Dairy Science and Biotechnology
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• v.29 no.2
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• pp.37-42
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• 2011

The changes in pH, titratable acidity, chromaticity, total count, coliform group and organoleptic properties of the whole market milks (UHT, LTLT) that sold currently on the domestic market were stored after their production at 0, 10, 20, 30 and $40^{\circ}C$ to predict their quality during distribution, and examined prior to the analysis on the correlation of their quality properties and organoleptic preference level and discovery of optimal quality indicator. The investigation of correlation between pH, acidity and preference level of milks depending on respective storage temperature showed significant correlation (p<0.01) for the milk stored at 10, 20, 30 and $40^{\circ}C$, and the higher temperature was directly proportional to the higher correlation coefficient. The correlation between total count and preference level for LTLT milk stored at 0, 10, 20, 30 and $40^{\circ}C$ showed high correlation coefficient at every high temperature condition respectively as R=0.81, R=0.91, R=0.96, R=0.90 & R=0.99, and the correlation coefficients were also significant level for the UHT milk irrespective of their storage temperature except $0^{\circ}C$. Accordingly, the changes in total colonies turned out to be suitable to be the quality indicator for the quality prediction of the milk on the distribution.

• KDI Journal of Economic Policy
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• v.12 no.2
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• pp.95-120
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• 1990

The underpricing of new shares of a firm that are offered to the public for the first time (initial offerings) is well known and has puzzled financial economists for a long time since it seems at odds with the optimal behavior of the owners of issuing firms. Past attempts by financial economists to explain this phenomenon have not been successful in the sense that the explanations given by them are either inconsistent with the equilibrium theory or implausible. Approaches by such authors as Welch or Allen and Faulhaber are no exceptions. In this paper, we develop a signalling model of capital investment to explain the underpricing phenomenon and also analyze the efficiency of investment. The model focuses on the information asymmetry between the owners of issuing firms and general investors. We consider a firm that has been owned and operated by a single owner and that has a profitable project but has no capital to develop it. The profit from the project depends on the capital invested in the project as well as a profitability parameter. The model also assumes that the financial market is represented by a single investor who maximizes the expected wealth. The owner has superior information as to the value of the firm to investors in the sense that it knows the true value of the parameter while investors have only a probability distribution about the parameter. The owner offers the representative investor a fraction of the ownership of the firm in return for a certain amount of investment in the firm. This offer condition is equivalent to the usual offer condition consisting of the number of issues to sell and the unit price of a share. Thus, the model is a signalling game. Using Kreps' criterion as the solution concept, we obtained an essentially unique separating equilibrium offer condition. Analysis of this separating equilibrium shows that the owner of the firm with high profitability chooses an offer condition that raises an amount of capital that is short of the amount that maximizes the potential profit from the project. It also reveals that the fraction of the ownership of the firm that the representative investor receives from the owner of the highly profitable firm in return for its investment has a value that exceeds the investment. In other words, the initial offering in the model is underpriced when the profitability of the firm is high. The source of underpricing and underinvestment is the signalling activity by the owner of the highly profitable firm who attempts to convince investors that his firm has a highly profitable project by choosing an offer condition that cannot be imitated by the owner of a firm with low profitability. Thus, we obtained two main results. First, underpricing is a result of a signalling activity by the owner of a firm with high profitability when there exists information asymmetry between the owner of the issuing firm and investors. Second, such information asymmetry also leads to underinvestment in a highly profitable project. Those results clearly show the underpricing entails underinvestment and that information asymmetry leads to a social cost as well as a private cost. The above results are quite general in the sense that they are based upon a neoclassical profit function and full rationality of economic agents. We believe that the results of this paper can be used as a basis for further research on the capital investment process. For instance, one can view the results of this paper as a subgame equilibrium in a larger game in which a firm chooses among diverse ways to raise capital. In addition, the method used in this paper can be used in analyzing a wide range of problems arising from information asymmetry that the Korean financial market faces.

• Journal of Korean Society of Occupational and Environmental Hygiene
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• v.24 no.4
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• pp.556-565
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• 2014

Objectives: This study is aimed at inquiring into the grasp of real condition of working environment and improvements by calculating the hypertension distribution consequent on job stress risk and exposure level of alleviating factors. In addition, this study is intending to estimate the hypertension distribution through socio-demographic factors and level of stressors occurring at working environment, such as high workload, low control, low support, job insecurity, long working hours, low income. Methods: This study estimated the hypertension distribution using the tertiary Korean Working Conditions Survey data, and conducted comparative analysis according to the category of individual questionnaire items using odds ratio. Result: As a result of study, it was found that in the event that working environment satisfaction is low and business & an immediate superior's attitudes are negative, the hypertension distribution was high. Particularly, it was found that physical risk factor musculoskeletal risk factor, and mental risk factor in a workplace were all increasing the hypertension distribution. Conclusions: With the aged workers' labor market participation ratio increasing, hypertension could be a major issue in the field of Occupational Safety and Health. Thus, it's necessary that the relevant employer should lower the hypertension distribution through creation of pleasant working environment and inducement of workers to improve in the relations with their superiors. As for the uppermost limit of this study, there is a limit to clarifying the mechanism of hypertension through multivariate statistics analysis because it's difficult to establish causal relationship by individual questionnaire item as the working conditions survey is made by cross-sectional study. In the follow-up research, this study is going to do research on the mechanism of hypertension through questionnaire supplementation and in-depth analysis.

• Journal of Bio-Environment Control
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• v.23 no.4
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• pp.391-400
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• 2014

The number of large scale greenhouses has recently been increasing to cope with mass consumption of agricultural product. Korean government announced a new development plan for constructing greenhouse complex in reclaimed lands for the purpose of improvement in exports and activation of domestic market of agricultural product. Wind environment in the reclaimed land is totally different from that of inland area, and it can give a strong influence on ventilation performance of naturally ventilated greenhouse facilities. In this study, internal airflow analysis of naturally ventilated greenhouse built on a reclaimed land was conducted using wind tunnel and PIV for validation research. Later, the PIV measured results will be used to improve the accuracy of 3 dimensional CFD simulation in the future. Wind profile at a reclaimed land was produced using ESDU program and it was applied to the wind tunnel. The calculated error was only 5% and 0.96 of correlation coefficient, implying that the computed profiles were designed properly. From the measured results, when external wind speed changed from $1m{\cdot}s^{-1}$ to $1.5m{\cdot}s^{-1}$, air velocities inside the greenhouse which PIV measured were also increased proportionately in case of both side vent open and side-roof vent open. Considering reduced ratio of air velocity inside the greenhouse, it was measured a minimum of 40% in case of side vent and 30% in case of side-roof vent compared with external wind speed from each vent type. From the quantitative and qualitative PIV analysis, the PIV measured results indicated that there were well ventilated and stagnant areas in the greenhouse according to external wind condition as well as ventilation design.

• Journal of the Korea Safety Management & Science
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• v.18 no.3
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• pp.127-135
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• 2016

Korean automobile industrial is in a difficult situation because of more competitive global market and lower demand. Therefore, domestic as well as global automobile manufacturers are making greater efforts in cost reduction to strengthen the competitiveness. According to statistical data, logistics cost in domestic manufacturers is higher than advanced countries. In this study, we developed program to effectively manage standard time of procurement logistics, and confirm based on A-automobile factory data. For the purpose, we develop the system which is possible to manage standard time as well as calculate man-hour. Program is not just for calculating and managing standard man-hour, scenarios analysis function will be added to calculate benefit while introduce logistics automated equipment. In this study we propose scenario using AGV instead of electric motor while move component. In the scenario analysis, job constitution is changed, and then we use system to compare the result. We can confirm standard man-hour is reduced from 22.3M/H to 14.3M/H. In future research, it is necessary scenario analysis function, and develop algorithm with realistic constraint condition.

• Journal of Navigation and Port Research
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• v.37 no.6
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• pp.647-653
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• 2013

Energy acquisition due to the increase of oil price is one of the most important issues and policy for most countries. Various tankers have been built in the world and sent to the trade market. It is necessary to build the port infrastructure and facilities to give them proper services such as mooring, packing, storing, and transshipment, etc. However, the domestic guidelines or standards for design and construction for the dolphin berth among these facilities are out of date and do not meet the recent trend of tanker types. Therefore, it requires amendment on the guidelines or standards. In this study, a detailed analysis of the tanker fleet, covering 8,000 ships under operation and order to build, is made to estimate the proper PBL(Parallel Body Length) of each tanker class. After discussion and comparison on the dolphin berth design and construction codes of various countries, those are the leading countries of tanker operation and management, suggestion was made to amend on the design code. The referred codes are of Korea, Japan, UK, USA, and Canada. The analysis of tanker fleet shows the PBL as 0.45L under the normal ballast condition. In order to verify the deduced amendment on the domestic design code for dolphin berth, it was selected one of the domestic dolphin berth, located at the Yeosu oil terminal, which is almost completed to construct. The design criteria and expected tankers to moor in that terminal were analyzed and the appropriateness and countermeasure for deficiency were summarized.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.3 no.4
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• pp.1-41
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• 2008

The Korean semiconductor industry has made a great contribution to growth of Korean economy for the last decades by maintaining a top position in terms of Korean total annual export volume. However, the advanced semiconductor equipment and materials that are used for the production of semiconductor devices still depend on the suppliers from Europe, Japan, and America who have an influential position in the Korean semiconductor industry. The objective of this study is to empirically investigate the attributes determining the extent of autonomy in decision making for the Korean subsidiaries of multinational corporations in the semiconductor industry. This study found there were differences in the extent of autonomy in decision making in terms of the global strategies the multinational corporations pursue. This study surveyed employees at the Korean subsidiaries and joint venture companies of semiconductor multinational corporations and collected 726 survey questionnaires. Several statistical analyses including frequency analysis, reliability analysis, factor analysis, multiple regression analysis and ANOVA were performed using the collected sample data. Based on the analyses, this study found as follows: Firstly, from the factor analysis, this study found Korean subsidiaries faced three sources of uncertainties stemmed from political conditions, competent conditions, demand and supply conditions. The internal resources were characterized by the independencies of production capability, financial capability, marketing capability and human resource management capability. The operational performance was determined by total revenue, net profit and market share growth. Secondly, it was found the uncertainties from political condition and competent condition and the independencies of financial capability and marketing capability partially influenced the extent of autonomy in decision making. The independencies of production capability and human resource management capability significantly influenced the autonomy of decision making in the most areas. It was also found an increase of total revenue, net profit and market share growth partially affected the extent of autonomy in decision making of the Korean subsidiaries. Finally, it was found that the polycentrism of global management by multinational corporations seemed to bring a higher extent of autonomy in decision making than ethnocentrism or geocentrism of global management. Based on the results, this study provided managerial implications regarding the extent of autonomy in decision making for Korean subsidiaries of multinational corporations in order to help management to enhance their business capabilities.