• Land and Housing Review
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• v.14 no.1
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• pp.33-46
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• 2023

This study investigated price factors for large apartment complexes in Seoul during the COVID-19 pandemic and compared Gangnam and non-Gangnam areas, which have been recognized as heterogeneous markets. We find that the change in apartment prices in large-scale complexes did not significantly affect the individual characteristics of apartments, unlike previous studies, but was affected by macroeconomic variables such as interest rates and money. On the other hand, considering the units of the interest rate and total monetary volume variables, the effects of two variables on the apartment sales price is significantly high. In addition, the Gangnam area model analysis shows that apartment prices are greatly affected by interest rates and currency volume, and, the non-Gangnam area model analysis shows that apartment prices are greatly affected by interest rates and currency volume, but the degrees are different from the Gangnam area model. Overall, our study shows that interest rates and money supply were the main factors of apartment price changes, but apartment prices in non-Gangnam areas are more sensitive to changes in interest rates and money supply.

• The Journal of Fisheries Business Administration
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• v.33 no.1
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• pp.43-68
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• 2002

In the fisheries industry, the cost of oil Is the greatest factor, contributing 25% 40% of the cost of production. In order to support fisheries, the government has supplied large amounts of money for oil to the fisheries industry. However, the elimination and restriction against the subsidy of fisheries has been actively discussed throughout international organizations Including the WTO. The purpose of this thesis is to study the existing issue of subsidies on the fisheries Industry, which is currently disputed in international organizations, and predict a future policy about the oil supply that considers the most important factors on fisheries. In chapter 2, the paper begins by outlining the tendencies of discussion in relation to the subsidy on fisheries among international organizations, and categorizes them on the basis of their types. Chapter 3 defines the current conditions and characteristics of the Korean subsidy on fisheries and analyzes which portions of the subsidy on fisheries should be eliminated first when it is prohibited. In chapter 4, procedures and problems for producing tax-free oil are discussed, because tax-free oil has a higher possibility of being ruled out. Chapter 5 proposes a reasonable plan concerning oil supply policies for maintenance or enrichment of the fishing industries, post the elimination of subsidies. Conclusions were drawn in eight areas as a result of this study: 1) securing the large storage of oil, 2) extending customers of oil to include non-fishermen, 3) coordinating the segmentation of marketing area, 4) diversification of the sales goods, 5) producing oil sales experts, 6) developing original brands, 7) expanding the purchasing area to buy oil in the international market, and 8) operating funds to stabilize oil price. It would not be appropriate to wait until international organizations decide to ban the subsidy of fisheries. Corresponding plans ( such as securing the large storage of oil) tend to be large scale and long-term projects because they take a number of years, from designing the oil storage tank to selecting the proper region and initiating the construction. Therefore, it is strongly suggested that any extensive and time consuming projects including preparation for the tax-free oil should be completed in new actions before the ban by the international organizations.

• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.191-212
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• 1992

This paper discusses the role of money in the process of capital accumulation where financial markets are impeded by contract enforcement problems in the context of overlapping generations framework. In particular, in less developed countries (LDCs) creditors may know little about the repayment capability of potential debtors due to incomplete information so that financial instruments other than money may not acceptable to them. In this paper the impediments to the operation of the private finanical markets are explicitly modelled. We argue that creditors cannot observe actual investment decisions made by the potential borrowers, and as a result, loan contracts may not be fully enforceable. Therefore, a laissez-faire regime may fail to provide the economy with the appropriate financial instruments. Under these circumstances, we introduce a government operated discount window (DW) that acts as an open market buyer of private debt. This theoretical structure represents the practice of governments of many LDCs to provide loans (typically at subsidized interest rates) to preferred borrowers either directly or indirectly through the commercial banking system. It is shown that the DW can substantially overcome impediments to trade which are caused by the credit market failure. An appropriate supply of the DW loan enables producers to purchase the resources they cannot obtain through direct transactions in the credit market. This result obtains even if the DW is subject to the same enforcement constraint that is responsible for the market failure. Thus, the DW intervention implies higher investment and output. However, the operation of the DW may cause inflation. Furthermore, the provision of cheap loans through the DW results in a worse income distribution. Therefore, there is room for welfare enhancing schemes that utilize the higher output to develop. We demonstrate that adequate lump sum taxes-cum-transfers along with the operation of the DW can support an allocation that is Pareto superior to the laissez-faire equilibrium allocation.

• Korean Journal of Agricultural Science
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• v.26 no.2
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• pp.70-76
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• 1999

Rice farming is not only the most important income resources of Korean farmers but also the roots of Korean traditional culture. Paddy fields have acted as an food supply base but also have contributed to the public multi-functions such as flood control, water conservation, controlling soil erosion, providing recreational and resting spaces, water purification, air cleaning, oxygen supply and air cooling and so on. The public multi-functions of paddy except rice production have not been evaluated before UR negotiation and starting WTO system. Under the drastic changes of rice economic settings as price decrease of rice and downward decrease of farm income, Korean and Japanese farmers might have lost their intention to grow rice in paddy fields without the direct payment system to compensate rice income decrease. To adapt the direct payment system, the total public value of multi-function of paddy should be identified in terms of money. According to the research results, the total value of multi-functional value of paddy in Korea were estimated 21,596thousand won which is higher than rice production value by 2.1 times. On the other hand the total value of Japanese paddy were amounted to 21,390 Yen which is more than that of Korea by 10times outstandingly. Likewise Japanese have evaluated the paddy field very important enterprise from the view point of food security and multi -functions of paddy to their socio-economic life and environmental sustainability in Japan.

• The Korean Journal of Air & Space Law and Policy
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• v.31 no.2
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• pp.37-72
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• 2016

In the aerospace field, besides special purpose airplanes, contracts for supply of various types of products such as prototypes, unmanned aerial vehicles and space launch vehicles are increasing. In the case of the contractor, it was planned to spend a large amount of money to supply the production, but if the purchase specification that presents the quality and performance standard of the product is poor or lacks the capacity to judge the performance, consuming enormous amounts of time and money. Even if the undertaker does not have the ability to supply the products with the required performance and quality to achieve the purpose of the contract, he/she must pay the cost of burial due to the incompleteness of the work and the compensation for the cancellation of the contract. In this case, the defendant ordered the plaintiff to supply the aircraft by the Happy Box method, which is capable of ILS Offset flight as specified in the Purchase Specification, but the plaintiff attempted to supply the aircraft by the RNAV method. Although the ILS ground signal can be inspected by the RNAV method, the aircraft manufactured in the manner claimed by the plaintiff does not have the ILS Offset flight function required by the purchase specification, so the defendant can not achieve the purpose required by the purchase specification. It was a question of whether a defendant's cancellation of contract was legitimate. The aircraft, which is the object of this contract, is a subordinate substitute, so the case contract is of undertaking. Therefore, in order to complete the work in this contract, the major structural parts of the aircraft must be manufactured as agreed and have the performance generally required in the social sense. However, the aircraft delivered by the plaintiff has serious defects because the defendant can not achieve the purpose required by the purchase specification due to the lack of the ILS Offset flight function required by the purchase specification. This deficiency is impossible for the plaintiff to repair, so the defendant 's cancellation of the contract is legitimate.

• Proceedings of the Technology Innovation Conference
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• 1996.12a
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• pp.296-324
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• 1996

Technology financing is different from other forms of corporate financing such as equipment purchase or facility related financing in terms of its riskiness. It is, therefore, difficult for innovative entrepreneurs to access any fund even though there are various ready-made funds available for implementing their technology development projects. The objective of this paper is to suggest a new means of financial support, entitled "stepwise Financing Mechanism" and to introduce credit based financing program. The Stepwise Mechanism will alleviate riskiness of technology development greatly by dividing the process of the development. Also, a credit based financing will make market interest rate decline and may have the same result as increasing the supply of money.

• Journal of the Korean Operations Research and Management Science Society
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• v.34 no.2
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• pp.77-90
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• 2009

Total profit level Increases if a company increase the cost for achieving R&D related goals of equipment productivity enhancement, production cost saving, or for achieving equipment scale target, sales volume goal. But how much money should be invested to achieve a certain level of profit? We formulated the model to set the optimal goal levels to minimize the investment cost under the constraint that certain level of total profit should be guaranteed. This model derived from a case of P steel company. We found that this should be considered in relation with the production sales planning (known as optimal product mix problem) to guarantee the profit. We suggested a nonlinear programming model, 3 valiant form of the p+roduct mix problem. We can find the optimal Investment level for the R&D related goals or sales volume goal, equipment scale target for the P steel company using the model.

• Proceedings of the Korea Electromagnetic Engineering Society Conference
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• 2005.11a
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• pp.437-442
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• 2005

This paper deals with the measurement and analysis of radio characteristic of 424 MHz for using the automation of transmission and supply of electric power, ana automatic meter reading(AMR). Normally radio propagation characteristic is the base of system design, performance evaluation and choice of position of the base station in wireless communication. It is the most accurate way to design a base station through practical measurements, but it costs much time, money and engineers. So, we developed 424 MHz short range wave propagation model for AMR service.

• Proceedings of the KIEE Conference
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• 2007.04a
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• pp.346-348
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• 2007

Underground pipe is an instrument to transport rapidly and safely a lot of fluid like gas, oil, water supply and drain system. It acts like blood vessels of human body in a modern industry. As in this country, the pipe facilities have been constructing since 1970's. The pipes constructed for a long time ago are already starting to reveal the problem like corrosion and most of them are built underground. So for companies, the managing of the underground pipes is very hard because it needs high technology and a lot of money. So we made a new robot system to repair and maintain the pipes at a low price. This new robot is devised using pressing wall type to work inside 700${\sim}$900(mm) size pipe. And it has good carrying and working power.

• Journal of the Korea Furniture Society
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• v.12 no.1
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• pp.125-130
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• 2001

The sofa industry, which is now one of the major furniture industries in Korea, has developed since 1970s as the apartment building boom and the rise of living standards triggered its demand. Among others, durable and high-quality leather sofa had been most favored and excelled other sofas since mid-1980s along with the growth of national economy before IMF control tightened money market in late 1990s. Leather sofa is still favored and its industry has great possibilities to increase as people tend to seek higher and more personalized living conditions with the stabilization of economy. However, there are several problems in the sofa industry due to the current economic difficult conditions, i.e.; 1. It is hard to cut down the cost of raw material as the supply mostly depend on import. 2. It is hard to keep product quality due to technical difficulties. 3. There are still illegal duplicates of foreign or domestic competitors'design. The aim of this study is to examine the reality of the leather sofa industry in Korea and to suggest new vision for its progress.