• 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.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.33 no.6
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• pp.2575-2582
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• 2013

In the delivery systems for public construction works, design-build methods such as turn-key and alternative have contributed to improving the quality of structures and developing the construction technology. However, it is pointed out that construction based on a design-build method is likely to waste a budget due to its higher contract price than construction based on a design-bid-build method. Other issues such as contract monopoly, bid rigging and deliberation irregularity in design-build. Since there are not much works have been accomplished to comparatively analyze the actual performance and effect based on delivery methods, discussing and judging the performance and effect of each deliver method with limited information could lead to an error. Thus, this study by extensively investigates the actual project cost data, ranging from contract price to the construction cost of the public construction works and comparatively analyzed the characteristics of each delivery method about cost structure and fluctuation trend. This work is expected to assist stake-holders in properly understanding delivery systems for public construction works and promoting their efficient management.

• Korean journal of applied entomology
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• v.15 no.3 s.28
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• pp.133-136
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• 1976

In order to survey the kinds and distribution of tobacco parasitic nematodes, 51 soil samples were. collected from 14 associations under the office of Monopoly of Kyungbuk and Kyungnam province. 1, The plant parasitic nematodes were found $96.1\%$ in the whole sampled. 2. The propotion of infested field of each nematode genera, Tylenchus shown as dominant by $82.3\%$ and next Aphelenchus $72.5\%$, Tylenchorhynchus $58.8\%$, Meloidogyne$50.9\%$, Criconemoides $25.4\%$, Pratylenchus, Hirschmanniella $23.5\%$ in order. 3. The density of genera per localities were as follows Pratylenchus is most abundant in Youngdeog as 43 population, Tylenchorhynchus shown in Jinbo, Tylenhus in Yeongil, Meloidogyne in Kimcheon, Xiphinema in Euisung. 4. Eighteen species belonging to 16 different genera of 11 families were identified, 12 of them are new for Korea as tobacco parasitic nematodes; Aglenchus costatus, Aphelenchus avenae, Criconemoides informis, Ditylenchus dipsaci, Helicotylenchus dihystera Hirschmanniella imamuri, Meloidogyne incognita, Psilenchus hilarulus, Rotylenchus pini, Tylenchorhynchus claytoni, Tylenchorhynchus nudus and Xiphinema americanum.

• Korean Business Review
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• v.17
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• pp.27-52
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• 2004

The miraculous growth of Korean economy and its business corporations during 1960' s and 1970's are mainly due to the government leadership and its market intervention. We can find the reasons why the government initiated economic growth plan was so successful in Korea in its efficient bureaucratic government system and fair discipline to the corporations based on its contribution to the economy. During 1960's, the primary factors for the growth of business entities and the formation of business groups were the financial special favor, the preferential treatment in the new industry entrance and the merge & acquisition, lavish export incentives from the government, and the export explosion to Vietnam. During 1970's, the substantial deduction of corporations' private debt, enormous support in heavy industry investment, special benefits to general trading companies by the government, and the construction export to the Middle-East were the main causes of the business growth and the business groups formation. Also, the economic rent for the big companies had still been effective since 1960's. However, the preferential benefit to the big companies made them to diversify into the unrelated business ares and to be in very vulnerable financial position. The governmental support brought about the monopoly as well.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.39 no.3
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• pp.1-9
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• 2016

NSS (Navigation satellite system) provides the information for determining the position, velocity and time of users in real time using satellite-networking, and is classified into GNSS (Global NSS) and RNSS (Regional NSS). Although GNSS services for global users, the exactitude of provided information is dissatisfied with the degree required in modern systems such as unmanned system, autonomous navigation system for aircraft, ship and others, air-traffic control system. Especially, due to concern about the monopoly status of the countries operating it, some other countries have already considered establishing RNSS. The RNSS services for users within a specific area, however, it not only gives more precise information than those from GNSS, but also can be operated independently from the NSS of other countries. Thus, for Korean RNSS, this paper suggests the methodology to design the satellite constellation considering the regional features of Korean Peninsula. It intends to determine the orbits and the arrangement of navigation satellites for minimizing PDOP (Position dilution of precision). PGA (Parallel Genetic Algorithm) geared to solve this nonlinear optimization problem is proposed and STK (System tool kit) software is used for simulating their space flight. The PGA is composed of several GAs and iterates the process that they search the solution for a problem during the pre-specified generations, and then mutually exchange the superior solutions investigated by each GA. Numerical experiments were performed with increasing from four to seven satellites for Korean RNSS. When the RNSS was established by seven satellites, the time ratio that PDOP was measured to less than 5 (i.e. better than 'Good' level on the meaning of the PDOP value) was found to 94.3% and PDOP was always kept at 10 or less (i.e. better than 'Moderate' level).

• Journal of the Korean Regional Science Association
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• v.31 no.1
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• pp.43-63
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• 2015

This study empirically analyzes the relationship between market structure and R&D activities. Especially, the outcome of R&D activities could be imitated or plagiarized by nearby competitors before it is protected legally through patenting, it would work as a club good and its market structure need to be defined at the geographic level of city, county or ward rather than the whole nation. According to the regression results of this study using Survey on Technology Statistics of Small- and Medium-Sized Firms, individual firms' R&D investment is more active when market structure of area(city, county, or ward)-industry(two-digit industry) is monopolistic or oligopolistic rather than competitive. However, as the variable representing market structure is redefined over a geographic scope of 16 metropolitan areas or provinces, 6 regions, or the whole nation, the relationship between market structure and R&D activities seems to become weak. Moreover, when the R&D expenditure is divided by its source, more active R&D spending in a less competitive market is observed as long as it is procured by internal fund of the firm in question.

• KDI Journal of Economic Policy
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• v.27 no.1
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• pp.39-79
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• 2005

This paper addresses the question of whether a monopolistic banking system can lead to a higher steady state level of capital stock. Information externality has enhanced as the advance of the financial system such as the establishment of the credit bureau system, networking, etc. Hence this paper aims to analyze the effects of both information externality and economic development on the determination of the optimal banking market structure. This paper shows that the presence of information externality together with asymmetric information would explain how a monopoly bank leads to a higher steady state level of capital stock. It also shows that not only under-developed countries but industrialized countries may also benefit from a concentrated banking system. This analysis provides an alternative explanation of the recent deregulation and resulting trends in mergers and acquisitions. This also provides a theoretical foundation to support governments' policy changes toward promoting merger and acquisition activities.

• The Journal of the Korea Contents Association
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• v.9 no.12
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• pp.245-252
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• 2009

The electrical power industry has been recognized as a natural monopoly industry for its technological and industrial characteristics. However, a competitive market system has been introduced to that industry in Europe, North America and Australia to overcome the inefficiencies originated from the monopolistic system for decades. In Korea, the power industry is expected to be placed in a competitive market system within several years after separation and privatization of vertically integrated industry in progress. Hence, there is a need for a research on the increase of customer value in that industry, however, existing studies have little dealt with that problem and there is no research on the price policy to consider churn and retention of customers. Therefore, this study provides a methodology for increasing customer loyalty and lifetime value by presenting the lowest pricing plan which leads to diminishing customers' cost. It is verified through an empirical examination that firms can enhance customer loyalty using a price element in that industry and maximize their profit by finding out customers whose lifetime values would increase.

• Archives of design research
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• v.13 no.4
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• pp.23-32
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• 2000

The present age is requested designer to be a generalist. The educational methods of university is changing over from intention of the technical education which is one of the traditional education methods to intention of a talented man with multiple knowledge. Also, the universities are establishing special curricular for cultivating men of ability. Many of an employer want to engage not only the specialist as the talented men in their own major field, but the generalist as the multiple knowledge in several field. Designer should have both a good stock of knowledge and personality. Also design should be able to easy access to all as a generalist instead of an obstinate streak as a monopoly of their specialist. This study was focused on development of basic research for understanding about design to generalist. It is purposed to suggest a research for a new recognition of design.

• Journal of Korea Spatial Information System Society
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• v.11 no.2
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• pp.79-88
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• 2009

The volume of memory to store real-time data stream is varied dynamically. Continuous queries processing the data stream must manage the storage volume dynamically. In previous research, according to current volume of data a general memory manager which allocates and releases memory by a page unit is researched.However, the method frequently executes page allocation and release to store data stream. Moreover, particularly delayed queries can monopolize many of pages because the method directly allocates pages when a query has not enough memory. Focusing on the problems in memory management systems, this research proposes a memory management method which reduces the frequency of allocation and release and uniformly distributes pages for queries. The method can reduce the frequency of allocation and release through allocation based on utilization ratio of pages in each query and prevent memory monopoly through memory allocation which considers query delay.