• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.39 no.2
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• pp.29-38
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• 2021

According to the theory of concentration recovery(ART), experiencing landscapes with healing properties can heal human mental fatigue caused by intentional concentration. The ART illustrates four healing qualities of the landscape. ART admits that various landscapes can have healing properties, the four healing properties of the landscape explained that the greater the perceptual strength, the stronger the healing effect. Until now, research on healing landscapes has been mainly done on natural and urban landscapes. The purpose of this study is as follows. First, eIt is intended to evaluate the healing characteristics of the Yangdong village landscape using RCS and investigate the impact of the healing characteristics on the visiting preference of the target landscape. Second, Evaluating the landscape image of Yangdong Village landscape, Investigating the effect of landscape images on the healing properties of landscape. This study was conducted in Yangdong Village, Gyeongju, 127 college students participated in the survey. SD 16 items to analyze landscape images and RCS 22 items from Laumann(2001) to evaluate healing properties were used as measurement tools. The findings are summarized as follows. First, The landscape image of Yangdong Village was analyzed through SD method, the analysis of the factors of Yangdong Village landscape image results in two factors: place and singularity. Second, It demonstrates the reliability and validity of RCS, Three factors were extracted from the factor analysis results. Third, Landscape images have a positive effect on the three healing characteristics of RCS. Fourth, Three healing properties of RCS have been shown to have a positive effect on visiting preferences, The order of influence on the relative visiting preferences was analyzed as attractiveness, fit, sense of escape, and sense of space. The findings suggest that future work requires research to re-validate the reliability of RCS. It is also necessary to analyze landscape images for various landscape types to specifically understand the effects on healing characteristics.

• (The)Study of the Eastern Classic
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• no.72
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• pp.35-66
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• 2018

This thesis has examined Jo Guimyeong's observation method and rhetoric of style of writing style. He tried to look at the world differently through observation and expressed relationship with the world through the style of comic. $J{\breve{o}}nggwan$ is a new way of looking at subjects and objects. It trust the senses and thoughts of the subject. So It is to clarify the circumstances and logic of the world from one's own point of view. In this case, it collides with the common thinking of the day. He put the reason and the action standard in the "taste" and the "mind". This means three things. First, he is proud that his reasons and actions are no different from those of a saint. Second, an individual is an independent being with different emotions and thoughts. Third, based on this, his works of literature have their own value. These reasons and actions were incarnated through '$J{\breve{o}}nggwan$(靜觀)'s observation methods. What he gained from the three stages of $J{\breve{o}}nggwan$(靜觀)' is the 'great mind'. The first step is self-reflection. It is the process of objectifying oneself. The second target is the appearance of things. It's about looking at everything equally, whether it's precious or vulgar. The third object of observation is a harmonic. He is joining the movement of the harmonizers. Therefore, one's own reasons, actions, and works of literature share the same meaning as those of a harmonizer. He said that the description can change according to his own knowledge. It means that you can fit the situation. A typical example was the analysis of 'Sung Bo hyung hwasangchan'<成甫兄畵像贊>. He described Park Moon-soo's life as the lives of officials through comic. Through this, He criticized Park Moon-soo's natural nature of the academic world. but the situation in which he can't escape from bureaucratic life by inducing laughter. This style of writing is one of the most representative features which was written by Jo Guimyeong writer.

• Journal of Environmental Impact Assessment
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• v.30 no.3
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• pp.141-154
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• 2021

In this study, the effect of the restoration of Yaksa stream and the construction of an apartment complex by the urban renewal project in the Yaksa district of Chuncheon on air quality in the surrounding area was evaluated using computational fluid dynamics (CFD) model simulations. In orderto compare the impact of the project, wind and pollutant concentration fields were simulated using topographic data in 2011 and 2017, which stand for the periods before and after the urban renewal project, respectively. In the numerical experiments, the scenarios were set to analyze the effect of the construction of the apartment complex and the effect of stream restoration. Wind direction and wind speed data obtained from the Chuncheon Automated Synoptic Observing System (ASOS) were used as the inflow boundary conditions, and the simulation results were weighted according to the frequencies of the eight-directional inflow wind directions. The changes in wind speed and NO_X concentration distribution according to the changes in building and terrain between scenarios were compared. As a result, the concentration of NO_X emitted from the surrounding roads increased by the construction of the apartment complex, and the magnitude of the increase was reduced as the result of including the effect of stream restoration. The concentration of NO_X decreased around the restored stream, while the concentration increased significantly around the constructed apartment complex. The increase in the concentration of NO_X around the apartment complex was more pronounced in the place located in the rear of the wind direction to the apartment complex, and the effect remains up to the height of the building. In conclusion, it was confirmed that the relative arrangement of apartment complex construction and stream restoration in relation to the main wind direction of the target area was one of the major factors in determining the surrounding air quality.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.40 no.1
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• pp.74-80
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• 2022

The vegetation of historical sites has been a form of vegetation that has remained since some years ago, but in modern times, vegetation and terrain have been deformed or damaged due to urban development, which was followed by an industrialization. As a solution to this, it is necessary to establish a plan for restoration and management by referring to the vegetation and landscape remaining in the historic site as indicators. This study was conducted to provide basic data for vegetation and landscape management of Baekje Historic Sites in Seoul by comparing and analyzing location characteristics, existing vegetation, and remaining vegetation of past substitutional vegetation for Pungnaptoseong and Mongchontoseong, Baekje Historic Sites in Seoul. As a result of the study, Pungnaptoseong and Mongchontoseong are located near the main stream of the Han River, Pungnaptoseong is located on a flat land consisting of natural embankments and floodplains, and Mongchontoseong is located on a hilly area. In the case of existing vegetation, it has been confirmed that Pungnaptoseong mainly has ornamental trees planting sites, while Mongchontoseong has a distribution of residual species from the past that grow in villages and hilly lowlands. The Substitutional vegetation of Pungnaptoseong and Mongchontoseong was synthesized based on the location characteristics and actual vegetation, it is estimated that the hilly areas may have been divided into "Quercus aliena Blume.", "Quercus mongolica Fisch. ex Ledeb." and so on, "Pinus densiflora Siebold & Zucc." on dry land,"Salix koreensis Andersson.", "Juglans mandshurica Maxim.", "Alnus japonica (Thunb.) Steud." in rivers and tributaries, "Quercus acutissima Carruth." in the main part of the forest, "Pinus densiflora Siebold & Zucc.", "Salix koreensis Andersson.", "Zelkova serrata (Thunb.) Makino." as a divine tree in the beginning of the village. Since the 1960s, all substitutional vegetation in the past has disappeared due to the introduction of foreign species and the creation of urban areas in Pungnaptoseong and Mongchontoseong, and the landscape has also been damaged. Fortunately, the substitutional vegetation was estimated in consideration of the species of residual trees distributed along the walls, climate, location characteristics, and times, but this study was conducted based on literature and existing vegetation surveys. Therefore, it is necessary to supplement the past target vegetation in Baekje historical sites in Seoul through quantitative experiments such as plant relic analysis in the future.

• Korean Journal of Environment and Ecology
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• v.36 no.3
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• pp.220-256
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• 2022

The most important thing for conserving plant diversity in an area is to make an overall inventory of the plant species inhabiting the area. In particular, limestone areas are known for their high plant diversity and distribution of specific plants. Despite that, only a few have been designated as protected areas. This study investigated the vascular plants distributed in Goyangsan Mtn. and Munraesan Mtn., located in limestone areas of the central part of the Korean Peninsula. A field survey was conducted eight times from April to October 2021. As a result, we identified a total of 654 taxa comprising 113 families, 357 genera, 592 species, 15 subspecies, 44 varieties, and 3 formulas. They included four endangered wild plant species: Astilboides tabularis, Eleutherococcus senticosus, Cypripedium macranthos, and Epilobium hirsutum. Endemic plants in Korea were identified as 32 taxa. Floristic target plants were identified as 168 taxa, specifically 5 taxa of grade V, 41 taxa of grade IV, and 36 taxa of grade III. The red data plants included 2 taxa as "Endangered (EN)", 7 taxa as "Vulnerable (VU)", and 7 taxa as "Near threatened (NT)". A total of 41 taxa of naturalized plants were identified, and 4 of them were invasive alien plants. The surveyed vicinity of Goyangsan Mtn. and Munraesan Mtn. showed high plant diversity and contained core habitats for distribution of an endangered wild plant, Astilboides tabularis,in the limestone area. Moreover, both mountains contained a small population of Cotoneaster integerrimus. These findings confirm that the area has conservation values. Therefore, we propose to identify areas with high plant diversity and designate them as special protected areas.

• Journal of the Korean Society of Tobacco Science
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• v.24 no.1
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• pp.67-73
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• 2002

In light of addressing consumer health concern, coping with anti-tobacco movement, and promoting new product, tobacco industry is actively pursuing to make a new generation of cigarettes with low tar and nicotine deliveries, and less harmful substances. Low tar and low nicotine cigarettes increases their market shares dramatically world wide, especially in KT&G, multinational tobacco companies, EU countries, even in China regulated by CNTC to set up yearly target to lower tar and nicotine deliveries. On the other hand, to design a new cigarette with reduced harmful substances begins to gain speed. The "modified Hoffmann list" publishes thirty plus substances in tobacco leaf and main smoke stream, which is the prime suspect causing health problems. Various ways and means are developed to reduce such components including new tobacco breeds, new curing method, tobacco leaf treatment before processing, selected filtration system, innovated casing system to reduce free radicals, as well as some non conventional cigarette products. In TSRC held this year, the main topic is related to reduce tobacco specific nitrosamines in tobacco leaf. The new generation of cigarette is in the horizon. It still needs a lot help to produce commercial products with satisfied taste and aroma characters. The flavor industry is not regulated by many governments demanding which ingredients might or might not be for tobacco use. However, most of the cigarette companies self impose a list of ingredients to guide flavor suppliers to design flavors. Unfortunately, the number of ingredients in those lists is getting shorter every year. It is understandable that the health is not the only reason. Some cigarette companies are playing safe to protect the company from potential lawsuit, while others are just copying from their competitors. Moreover, it is obvious that it needs more assistance from casings and flavors to design new generation of cigarettes with missing certain flavor components in tobacco leaf and main smoke stream. These flavor components are either non-existed or at lower level at new form of cured tobacco leaf or filtered in the main smoke stream along with reduced harmful substances. The use of carbon filters and other selected filtration system poses another tough task for flavor system design. Specific flavor components are missing from the smoke analysis data, which brings a notion of "carbon taste" and "dryness" of mouth feel. It is ever more demanded by cigarette industry to flavor suppliers to produce flavors as body enhancer, tobacco notes, salivating agents, harshness reducer, and various of aromatic notes provided they are safe to use. Another trend is that water based flavor or flavor with reduced ethanol as solvent is gaining popularity. It is preferred by some cigarette companies that the flavor is compounded with all natural ingredients or all ingredients should he GMO free. The new generation of cigarettes demands many ways of new thinking process. It is also vital for tobacco industry. It reflects the real needs for the consumers that the cigarette product should be safe to use as well as bearing the taste and aroma characters smokers always enjoyed. An effective tobacco flavor system is definitely a part of the equation. The global trend of tobacco industry is like trends of any other industries lead by consumer needs, benefited with new technology availability, affected by the global economy, and subjected for various rules and regulations. Anti-tobacco organizations and media exceptionally scrutinize cigarette, as a legal commercial product. Cigarette is probably the most studied commercial product for its composition, structure, deliveries, effects, as well as its new developmental trend. Therefore, any new trend of cigarette development would be within these boundaries. This paper is trying to point out what it would be like for tobacco industry in the next few yews and what concerns the tobacco industry. It focuses mostly on the efforts to produce safer cigarettes. It is such a vital task for the tobacco industry and its affiliate industries such as cigarette papers, filters, flavors, and other materials. The facts and knowledge presented in this paper might be well known for the public. Some of the comments and predictions are very much personal opinion for a further discussion.

• Journal of the Korean Institute of Landscape Architecture
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• v.52 no.1
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• pp.17-33
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• 2024

This study suggests management planning of Bonguisan Neighborhood Park located on the central of Chuncheon city and highly used for citizen's rest and leisure space utilizing its vegetation structure feature. Bonguisan has been the central of the chuncheon since the period of the Three states in Korean history and consistently damaged, especially in present era, an isolation and sererance of its ecosystem has deepen for indiscreet urban development. The percentage of actual vegetation of Boinguisan Neighborhood Park is as follows: Quercus mongolica is 28.5%, Quercus mongolica - Quercus serrata is 2.1%, Pinus densiflora is 15.6%, Pinus densiflora - Quercus mongolica is 15.9%, Betula schmidtii is 1.6%, Robinia pseudoacacia is 5.9%, Pinus koraiensis is 1.6%. Quercus mongolica is distributed on the southwest, northwest, southeast side of region, Pinus densiflora is distributed on the ridge of east and southeast side of region, Betula schmidtii is distributed on the valley of northeast side region and steep slope region which is on the north side of chungwonsa temple. Pinus densiflora community (Comm. I) and Quercus acutissima - Robinia pseudoacacia community (Comm. V) is expected to undergo succession since it's categorized as Quercus spp. and Quercus mongolica community (Comm. II) and Quercus serrata-Quercus mongolica community (Comm. III), Betula schmidtii community (Comm. IV), Pinus koraiensis community (Comm. VI) is expected to maintain. Also for target vegetation and management planning, Vegetation of Bonguisan Neighborhood Park is classified as 1st Natural landscape conservation and improvement type, 2nd Ecological succession type, 3rd Unusual community conservation type, and 4th Recreation and experience type. And we suggested ecological management measure about each management types. For efficient management of Bonguisan Neighborhood Park, it is need to unify management system of it and after designating Pinus densiflora community and Betula schmidtii community which has high ecological preservation value as an ecological landscape protected area and manage it.

• Journal of Intelligence and Information Systems
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• v.23 no.1
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• pp.95-108
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• 2017

Recently, AlphaGo which is Bakuk (Go) artificial intelligence program by Google DeepMind, had a huge victory against Lee Sedol. Many people thought that machines would not be able to win a man in Go games because the number of paths to make a one move is more than the number of atoms in the universe unlike chess, but the result was the opposite to what people predicted. After the match, artificial intelligence technology was focused as a core technology of the fourth industrial revolution and attracted attentions from various application domains. Especially, deep learning technique have been attracted as a core artificial intelligence technology used in the AlphaGo algorithm. The deep learning technique is already being applied to many problems. Especially, it shows good performance in image recognition field. In addition, it shows good performance in high dimensional data area such as voice, image and natural language, which was difficult to get good performance using existing machine learning techniques. However, in contrast, it is difficult to find deep leaning researches on traditional business data and structured data analysis. In this study, we tried to find out whether the deep learning techniques have been studied so far can be used not only for the recognition of high dimensional data but also for the binary classification problem of traditional business data analysis such as customer churn analysis, marketing response prediction, and default prediction. And we compare the performance of the deep learning techniques with that of traditional artificial neural network models. The experimental data in the paper is the telemarketing response data of a bank in Portugal. It has input variables such as age, occupation, loan status, and the number of previous telemarketing and has a binary target variable that records whether the customer intends to open an account or not. In this study, to evaluate the possibility of utilization of deep learning algorithms and techniques in binary classification problem, we compared the performance of various models using CNN, LSTM algorithm and dropout, which are widely used algorithms and techniques in deep learning, with that of MLP models which is a traditional artificial neural network model. However, since all the network design alternatives can not be tested due to the nature of the artificial neural network, the experiment was conducted based on restricted settings on the number of hidden layers, the number of neurons in the hidden layer, the number of output data (filters), and the application conditions of the dropout technique. The F1 Score was used to evaluate the performance of models to show how well the models work to classify the interesting class instead of the overall accuracy. The detail methods for applying each deep learning technique in the experiment is as follows. The CNN algorithm is a method that reads adjacent values from a specific value and recognizes the features, but it does not matter how close the distance of each business data field is because each field is usually independent. In this experiment, we set the filter size of the CNN algorithm as the number of fields to learn the whole characteristics of the data at once, and added a hidden layer to make decision based on the additional features. For the model having two LSTM layers, the input direction of the second layer is put in reversed position with first layer in order to reduce the influence from the position of each field. In the case of the dropout technique, we set the neurons to disappear with a probability of 0.5 for each hidden layer. The experimental results show that the predicted model with the highest F1 score was the CNN model using the dropout technique, and the next best model was the MLP model with two hidden layers using the dropout technique. In this study, we were able to get some findings as the experiment had proceeded. First, models using dropout techniques have a slightly more conservative prediction than those without dropout techniques, and it generally shows better performance in classification. Second, CNN models show better classification performance than MLP models. This is interesting because it has shown good performance in binary classification problems which it rarely have been applied to, as well as in the fields where it's effectiveness has been proven. Third, the LSTM algorithm seems to be unsuitable for binary classification problems because the training time is too long compared to the performance improvement. From these results, we can confirm that some of the deep learning algorithms can be applied to solve business binary classification problems.

• Asia pacific journal of information systems
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• v.24 no.2
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• pp.211-232
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• 2014

Recently, there is a growing interest toward social commerce using SNS(Social Networking Service), and the size of its market is also expanding due to popularization of smart phones, tablet PCs and other smart devices. Accordingly, various studies have been attempted but it is shown that most of the previous studies have been conducted from perspectives of the users. The purpose of this study is to derive user-centered CSF(Critical Success Factor) of social commerce from the previous studies and analyze the CSF perception gap between social commerce service providers and users. The CSF perception gap between two groups shows that there is a difference between ideal images the service providers hope for and the actual image the service users have on social commerce companies. This study provides effective improvement directions for social commerce companies by presenting current business problems and its solution plans. For this, This study selected Korea's representative social commerce business Ticket Monster, which is dominant in sales and staff size together with its excellent funding power through M&A by stock exchange with the US social commerce business Living Social with Amazon.com as a shareholder in August, 2011, as a target group of social commerce service provider. we have gathered questionnaires from both service providers and the users from October 22, 2012 until October 31, 2012 to conduct an empirical analysis. We surveyed 160 service providers of Ticket Monster We also surveyed 160 social commerce users who have experienced in using Ticket Monster service. Out of 320 surveys, 20 questionaries which were unfit or undependable were discarded. Consequently the remaining 300(service provider 150, user 150)were used for this empirical study. The statistics were analyzed using SPSS 12.0. Implications of the empirical analysis result of this study are as follows: First of all, There are order differences in the importance of social commerce CSF between two groups. While service providers regard Price Economic as the most important CSF influencing purchasing intention, the users regard 'Trust' as the most important CSF influencing purchasing intention. This means that the service providers have to utilize the unique strong point of social commerce which make the customers be trusted rathe than just focusing on selling product at a discounted price. It means that service Providers need to enhance effective communication skills by using SNS and play a vital role as a trusted adviser who provides curation services and explains the value of products through information filtering. Also, they need to pay attention to preventing consumer damages from deceptive and false advertising. service providers have to create the detailed reward system in case of a consumer damages caused by above problems. It can make strong ties with customers. Second, both service providers and users tend to consider that social commerce CSF influencing purchasing intention are Price Economic, Utility, Trust, and Word of Mouth Effect. Accordingly, it can be learned that users are expecting the benefit from the aspect of prices and economy when using social commerce, and service providers should be able to suggest the individualized discount benefit through diverse methods using social network service. Looking into it from the aspect of usefulness, service providers are required to get users to be cognizant of time-saving, efficiency, and convenience when they are using social commerce. Therefore, it is necessary to increase the usefulness of social commerce through the introduction of a new management strategy, such as intensification of search engine of the Website, facilitation in payment through shopping basket, and package distribution. Trust, as mentioned before, is the most important variable in consumers' mind, so it should definitely be managed for sustainable management. If the trust in social commerce should fall due to consumers' damage case due to false and puffery advertising forgeries, it could have a negative influence on the image of the social commerce industry in general. Instead of advertising with famous celebrities and using a bombastic amount of money on marketing expenses, the social commerce industry should be able to use the word of mouth effect between users by making use of the social network service, the major marketing method of initial social commerce. The word of mouth effect occurring from consumers' spontaneous self-marketer's duty performance can bring not only reduction effect in advertising cost to a service provider but it can also prepare the basis of discounted price suggestion to consumers; in this context, the word of mouth effect should be managed as the CSF of social commerce. Third, Trade safety was not derived as one of the CSF. Recently, with e-commerce like social commerce and Internet shopping increasing in a variety of methods, the importance of trade safety on the Internet also increases, but in this study result, trade safety wasn't evaluated as CSF of social commerce by both groups. This study judges that it's because both service provider groups and user group are perceiving that there is a reliable PG(Payment Gateway) which acts for e-payment of Internet transaction. Accordingly, it is understood that both two groups feel that social commerce can have a corporate identity by website and differentiation in products and services in sales, but don't feel a big difference by business in case of e-payment system. In other words, trade safety should be perceived as natural, basic universal service. Fourth, it's necessary that service providers should intensify the communication with users by making use of social network service which is the major marketing method of social commerce and should be able to use the word of mouth effect between users. The word of mouth effect occurring from consumers' spontaneous self- marketer's duty performance can bring not only reduction effect in advertising cost to a service provider but it can also prepare the basis of discounted price suggestion to consumers. in this context, it is judged that the word of mouth effect should be managed as CSF of social commerce. In this paper, the characteristics of social commerce are limited as five independent variables, however, if an additional study is proceeded with more various independent variables, more in-depth study results will be derived. In addition, this research targets social commerce service providers and the users, however, in the consideration of the fact that social commerce is a two-sided market, drawing CSF through an analysis of perception gap between social commerce service providers and its advertisement clients would be worth to be dealt with in a follow-up study.

• KDI Journal of Economic Policy
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• v.12 no.1
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• pp.31-68
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• 1990

The concentration of economic power takes the form of one or a few firms controlling a substantial portion of the economic resources and means in a certain economic area. At the same time, to the extent that these firms are owned by a few individuals, resource allocation can be manipulated by them rather than by the impersonal market mechanism. This will impair allocative efficiency, run counter to a decentralized market system and hamper the equitable distribution of wealth. Viewed from the historical evolution of Western capitalism in general, the concentration of economic power is a paradox in that it is a product of the free market system itself. The economic principle of natural discrimination works so that a few big firms preempt scarce resources and market opportunities. Prominent historical examples include trusts in America, Konzern in Germany and Zaibatsu in Japan in the early twentieth century. In other words, the concentration of economic power is the outcome as well as the antithesis of free competition. As long as judgment of the economic system at large depends upon the value systems of individuals, therefore, the issue of how to evaluate the concentration of economic power will inevitably be tinged with ideology. We have witnessed several different approaches to this problem such as communism, fascism and revised capitalism, and the last one seems to be the only surviving alternative. The concentration of economic power in Korea can be summarily represented by the "jaebol," namely, the conglomerate business group, the majority of whose member firms are monopolistic or oligopolistic in their respective markets and are owned by particular individuals. The jaebol has many dimensions in its size, but to sketch its magnitude, the share of the jaebol in the manufacturing sector reached 37.3% in shipment and 17.6% in employment as of 1989. The concentration of economic power can be ascribed to a number of causes. In the early stages of economic development, when the market system is immature, entrepreneurship must fill the gap inherent in the market in addition to performing its customary managerial function. Entrepreneurship of this sort is a scarce resource and becomes even more valuable as the target rate of economic growth gets higher. Entrepreneurship can neither be readily obtained in the market nor exhausted despite repeated use. Because of these peculiarities, economic power is bound to be concentrated in the hands of a few entrepreneurs and their business groups. It goes without saying, however, that the issue of whether the full exercise of money-making entrepreneurship is compatible with social mores is a different matter entirely. The rapidity of the concentration of economic power can also be traced to the diversification of business groups. The transplantation of advanced technology oriented toward mass production tends to saturate the small domestic market quite early and allows a firm to expand into new markets by making use of excess capacity and of monopoly profits. One of the reasons why the jaebol issue has become so acute in Korea lies in the nature of the government-business relationship. The Korean government has set economic development as its foremost national goal and, since then, has intervened profoundly in the private sector. Since most strategic industries promoted by the government required a huge capacity in technology, capital and manpower, big firms were favored over smaller firms, and the benefits of industrial policy naturally accrued to large business groups. The concentration of economic power which occured along the way was, therefore, not necessarily a product of the market system. At the same time, the concentration of ownership in business groups has been left largely intact as they have customarily met capital requirements by means of debt. The real advantage enjoyed by large business groups lies in synergy due to multiplant and multiproduct production. Even these effects, however, cannot always be considered socially optimal, as they offer disadvantages to other independent firms-for example, by foreclosing their markets. Moreover their fictitious or artificial advantages only aggravate the popular perception that most business groups have accumulated their wealth at the expense of the general public and under the behest of the government. Since Korea stands now at the threshold of establishing a full-fledged market economy along with political democracy, the phenomenon called the concentration of economic power must be correctly understood and the roles of business groups must be accordingly redefined. In doing so, we would do better to take a closer look at Japan which has experienced a demise of family-controlled Zaibatsu and a success with business groups(Kigyoshudan) whose ownership is dispersed among many firms and ultimately among the general public. The Japanese case cannot be an ideal model, but at least it gives us a good point of departure in that the issue of ownership is at the heart of the matter. In setting the basic direction of public policy aimed at controlling the concentration of economic power, one must harmonize efficiency and equity. Firm size in itself is not a problem, if it is dictated by efficiency considerations and if the firm behaves competitively in the market. As long as entrepreneurship is required for continuous economic growth and there is a discrepancy in entrepreneurial capacity among individuals, a concentration of economic power is bound to take place to some degree. Hence, the most effective way of reducing the inefficiency of business groups may be to impose competitive pressure on their activities. Concurrently, unless the concentration of ownership in business groups is scaled down, the seed of social discontent will still remain. Nevertheless, the dispersion of ownership requires a number of preconditions and, consequently, we must make consistent, long-term efforts on many fronts. We can suggest a long list of policy measures specifically designed to control the concentration of economic power. Whatever the policy may be, however, its intended effects will not be fully realized unless business groups abide by the moral code expected of socially responsible entrepreneurs. This is especially true, since the root of the problem of the excessive concentration of economic power lies outside the issue of efficiency, in problems concerning distribution, equity, and social justice.