• Proceedings of the KSRS Conference
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• 2004.10a
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• pp.3-6
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• 2004

This study aims to estimate, in monetary figures, the environmental value of recreational theme park- Huis Ten Bosch (HTB), located in Nagasaki Prefecture, Japan, through the integration of both contingent valuation method (CVM) and remote sensing. In the analysis, we have estimated the environmental value of HTB through CVM. Then, we have compared this amount with the valuation made by using remote sensing. The results of the study would provide the interest groups some monetary base, to value the worth of environmental restoration activities undertaken by HTB.

• International Journal of Computer Science & Network Security
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• v.22 no.8
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• pp.420-424
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• 2022

The Arab Automotive Company was the first corporation in Saudi Arabia and was founded in 1928. Since then, the number of Saudi corporations had increased. In 1985, Tadawul (The Saudi Stock Exchange ) was instituted under the supervision of the Saudi Arabian Monetary Authority (SAMA) and the base value of the index was 1000. This decision came as a response to accelerated growth in the number of Saudi corporations which had increased during the 1970s as the Saudi's economy developed.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.5
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• pp.91-102
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• 2020

The study investigates the relationship between the inflation rate and economic growth to find out the optimal inflation threshold for economic growth. Therefore, this study applied an ordinary least square model (OLS) and the ordinal regression model, and collected the time-series data from 1996 to 2017 to test the relationship between inflation and economic growth in the short-term and long-term. The sample fits the model and is statistically significant. The study showed that 96.6% of correlation between inflation rate and economic growth are close and 4.5% of optimal inflation threshold is appropriate for economic growth. It finds that the optimal inflation threshold is base to perform economic growth, besides the inflation rate is positively related to economic growth. The results support the monetary policy appropriately. This study identifies issues for Government to consider: have a comprehensive solution among macroeconomic policies, monetary policy, fiscal policy and other policies to control and maintain the inflation and stimulate growth; have appropriate policies to regulate inflation to stimulate economic growth over the long term; set a priority goal for sustainable economic growth; not pursue economic growth by maintaining the inflation rate in the long term, but take appropriate measures to stabilize the inflation at the optimal inflation threshold.

• KDI Journal of Economic Policy
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• v.12 no.3
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• pp.71-94
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• 1990

This paper reviews the rationale of monetary and banking intervention by an outside authority, either the government or the central bank, and seeks to delineate clearly the optimal limits to the monetary and banking deregulation currently underway in Korea as well as on a global scale. Furthermore, this paper seeks to establish an objective and balanced view on the role of the central bank, especially in light of the current discussion on the restructuring of Korea's central bank, which has been severely contaminated by interest-group politics. The discussion begins with the recognition that the modern free banking school and the new monetary economics are becoming formidable challenges to the traditional role of the government or the central bank in the monetary and banking sector. The paper reviews six arguments that have traditionally been presented to support intervention: (1) the possibility of an over-issue of bank notes under free banking instead of central banking; (2) externalities in and the public good nature of the use of money; (3) economies of scale and natural monopoly in producing money; (4) the need for macro stabilization policy due to the instability of the real sector; (5) the external effects of bank failure due to the inherent instability of the existing banking system; and (6) protection for small banknote users and depositors. Based on an analysis of the above arguments, the paper speculates on the optimal role of the government or central bank in the monetary and banking system and the optimal degree of monetary and banking deregulation. By contrast to the arguments for free banking or laissez-faire monetary systems, which become fashionable in recent years, monopoly and intervention by the government or central bank in the outside money system can be both necessary and optimal. In this case, of course, an over-issue of fiat money may be possible due to political considerations, but this issue is beyond the scope of this paper. On the other hand, the issue of inside monies based on outside money could indeed be provided for optimally under market competition by private institutions. A competitive system in issuing inside monies would help realize, to the maxim urn extent possible, external economies generated by using a single outside money. According to this reasoning, free banking activities will prevail in the inside money system, while a government monopoly will prevail in the outside money system. This speculation, then, also implies that the monetary and banking deregulation currently underway should and most likely will be limited to the inside money system, which could be liberalized to the fullest degree. It is also implied that it will be impractical to deregulate the outside money system and to allow market competition to provide outside money, in accordance with the arguments of the free banking school and the new monetary economics. Furthermore, the role of the government or central bank in this new environment will not be significantly different from their current roles. As far as the supply of fiat money continues to be monopolized by the government, the control of the supply of base money and such related responsibilities as monetary policy (argument(4)) and the lender of the last resort (argument (5)) will naturally be assigned to the outside money supplier. However, a mechanism for controlling an over-issue of fiat money by a monopolistic supplier will definitely be called for (argument(1)). A monetary policy based on a certain policy rule could be one possibility. More importantly, the deregulation of the inside money system would further increase the systemic risk inherent in the current fractional banking system, while enhancing the efficiency of the system (argument (5)). In this context, the role of the lender of the last resort would again become an instrument of paramount importance in alleviating liquidity crises in the early stages, thereby disallowing the possibility of a widespread bank run. Similarly, prudential banking supervision would also help maintain the safety and soundness of the fully deregulated banking system. These functions would also help protect depositors from losses due to bank failures (argument (6)). Finally, these speculations suggest that government or central bank authorities have probably been too conservative on the issue of the deregulation of the financial system, beyond the caution necessary to preserve system safety. Rather, only the fullest deregulation of the inside money system seems to guarantee the maximum enjoyment of external economies in the single outside money system.

• Journal of Korean Society for Quality Management
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• v.37 no.3
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• pp.1-9
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• 2009

Top Managers are apt to do the decision making on the base of cost-benefit analysis. Therefore the return on quality is indispensable to get the commitment of the top managers on the quality programs. The monetary or tangible effects of the most improvement activities through the suggestion systems and the quality circle activities are computed and reported. In most cases the reported gains are much bigger than the input invested. In spite of the reported high return many top managers are doubtful about the truth of reports because the gains are not translated into the profit on the income statement. This paper discusses about the mechanism of individual improvement activities and analyze the system effect which sum the individual effect and the realization effect on the income statement during that period. This will help the top managers to commit on the quality programs with high confidence.

• East Asian Economic Review
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• v.17 no.2
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• pp.129-159
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• 2013

Over the course of the recent global financial crisis, emerging economies experienced massive swings in capital inflows. In this paper, we estimate a VAR model to assess the impact of capital inflow shocks, which are identified using a set of sign restrictions, on house prices in Korea. We base the analysis on three alternative measures of capital inflows: net total inflows, net portfolio inflows and gross total inflows. The results suggest that capital inflow shocks have a significantly positive and persistent effect on real house prices. Although shocks to capital inflows are found to be substantially more important for Korean asset markets than for other OECD countries, their overall explanatory power is modest. Using regional house price data we also show that capital inflow shocks have an asymmetric effect on property markets across the seven largest Korean cities and across different parts of Seoul.

• Journal of Korean Society of Transportation
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• v.22 no.5
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• pp.89-97
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• 2004

The Korea Air Force(KAF) has operated freight flights based on the prefixed time and route schedule, which is adjusted once in a month. The major purpose of the operation of freight flights in the KAF is to distribute necessary supplies from the home air base to other air bases. The secondary purpose is to train the young pilots to get more experiences in navigation. Each freight flight starts from and returned to the home air base everyday except holidays, while it visits several other air bases to accomplish its missions. The study aims to forecast freight demand at each base by using time series analysis, and then it tried to optimize the cost of operating flights by solving vehicle routing problem. For more specifically, first, several constraints in operating cargos were defined by reviewing the Korea Air Force manuals and regulation. With such constraints, an integer programming problem was formulated for this specific routing problem allowing several visits in a tour with limitation of maximum number of visits. Then, an algorithm to solve the routing problem was developed. Second, the time series analysis method was applied to find out the freight demand at each air base from the mother air base in the next month. With the forecasted demands and the developed solution algorithm, the oprimum routes are calculated for each flight. Finally, the study compared the solved routing system by the developed algorithm with the existing routing system of the Korea Air Force. Through this comparison, the study proved that the proposed method can provide more (economically) efficient routing system than the existing system in terms of computing and monetary cost. In summary, the study suggested objective criteria for air routing plan in the KAF. It also developed the methods which could forecast properly the freight demands at each bases by using time series analysis and which could find the optimum routing which minimizes number of cargo needed. Finally, the study showed the economical savings with the optimized routing system by using real case example.

• Journal of the Earthquake Engineering Society of Korea
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• v.11 no.4
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• pp.13-23
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• 2007

This paper focuses on providing a practical approach for decision making in Performance-Based Design (PBD). Satisfactory performance is defined by several performance objectives that place limits on direct (monetary) loss and on a tolerable probability of collapse. No specific limits are placed on conventional engineering parameters such as forces or deformations, although it is assumed that sound capacity design principles are followed in the design process. The proposed design procedure incorporates different performance objectives up front, before the structural system is created, and assists engineers in making informed decisions on the choice of an effective structural system and its stiffness (period), base shear strength, and other important global structural parameters. The tools needed to implement this design process are (1) hazard curves for a specific ground motion intensity measure, (2) mean loss curves for structural and nonstructural subsystems, (3) structural response curves that relate, for different structural systems, a ground motion intensity measure to the engineering demand parameter (e.g., interstory drift or floor acceleration) on which the subsystem loss depends, and (4) collapse fragility curves. Since the proposed procedure facilitates decision making in the conceptual design process, it is referred to as a Design Decision Support System, DDSS. Implementation of the DDSS is illustrated in an example to demonstrate its practicality.

• Journal of Environmental Science International
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• v.26 no.9
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• pp.1087-1099
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• 2017

Emergy methodology was used to analyze the biophysical basis of Korean agriculture and assess its sustainablility. Total yearly emergy input into Korean agriculture was $7.72{\times}10^{22}sej/yr$ in 2013. Purchased inputs were the dominant emergy source, accounting for 90.1% ($6.95{\times}10^{22}sej/yr$) of the annual input. This clearly indicates that the Korean agriculture is a modern, industrialized system that depends mostly on market goods and services derived from nonrenewable resources. The monetary equivalent of the total emergy input was 18.9 trillion \/yr, 1.5 times greater than the total production cost from farm expense surveys. Emergy return on investment of Korean agriculture was low, with an emergy yield ratio of 1.11. Korean agriculture appears to exert pressure on the environment as revealed by the high environmental loading ratio of 9.30. With very low emergy input from renewable sources (9.7%) and high environmental pressure, Korean agriculture is not sustainable, with an emergy sustainability index of 0.12. This study suggests that higher use efficiency of and lower dependence on nonrenewable purchased inputs need to be prioritized in an effort to enhance the sustainability of Korean agriculture.

• International Commerce and Information Review
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• v.3 no.2
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• pp.261-280
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• 2001

From the IMF(International Monetary fund) crisis, the management conditions of the trading company which run business in world market, has rapidly changed. In particular, the trading conglomerate's competitive power have declined. This study, addressing such changes, intend to analyze what factors are that have generated this changes in trading conglomerate's environment. The study specifically takes it into account that the differences between Korea trading company and Japan's. This research was confirmed by data and field survey in two country. The results of research are summarized as follow. The Korean trading company are inferior to the Japanese trading company in total volume(Korea: 24.1, Japan 100), the benefit volume(Korea: 8.7, Japan 100), the stability of turnover(Korea: 36.6, Japan 100), the network power in foreign country(Korea: 19.2, Japan 100), the power of e-business(Korea: 17.0, Japan 100). But the debt ratio of Korea company is significantly lower than that of Japan's(Korea: 160.4%, Japan 940.5%). In conclusion, providing that the Korean trading company want to be a world-class champion in trading field, they have to introduce the new management strategies which means the high-profit base trading, the long term investment and the internet business.