• Title/Summary/Keyword: Policy Changes

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Risk Analysis of Household Debt in Korea: Using Micro CB Data (개인CB 자료를 이용한 우리나라 가계의 부채상환위험 분석)

  • Hahm, Joon-Ho;Kim, Jung In;Lee, Young Sook
    • KDI Journal of Economic Policy
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    • v.32 no.4
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    • pp.1-34
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    • 2010
  • We conduct a comprehensive risk analysis of household debt in Korea for the first time using the whole sample credit bureau (CB) data of 2.2 million individual debtors. After analysing debt service capacity profiles of debtor groups classified by the borrower characteristics such as income, age, occupation, credit scoring, and the type of creditor business companies, we investigate the impact of interest rate and income changes on debt service-to-income ratios (DTIs) and default rates of respective debtor groups. Empirical results indicate that debt service burdens are relatively high for low income wage earners, high income self-employed, low income capital and card loan holders, and high income mutual savings loan holders. We also find that debtors from multiple financial companies are particularly weak in their debt service capacity. The scenario analysis indicates that financial companies, with the current level of capital buffers, may be able to absorb negative consequences arising from the increase in DTIs and loan default rates if the interest rate and income changes remain modest. However, the negative consequences may fall disproportionately on non-bank financial companies such as capital, credit card, and mutual savings banks, whose debtors' DTIs are already high. We also find that the refinancing risk of household debt is relatively high in Korea as more than half of household mortgage debts are bullet loans. As the DTIs of mortgage loan holders are already high, under the current DTI regulation, mortgage loans may not be readily refinanced especially when the interest rate rises. Disruptions in mortgage loan refinancing may put downward pressure on housing prices, which may in turn magnify refinancing risk under the current loan-to-value (LTV) regulation. Overall our analysis suggests that, for more effective monitoring of household debt risk, it is necessary to combine existing surveillance schemes based on macro aggregate indicators with more comprehensive and detailed risk analyses based on micro individual data.

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Changes in spatial organization of Korea by the construction of Seoul-Pusan railroad (京釜線 鐵道建設에 따른 韓半島 空間組織의 變化)

  • ;Joo, Kyung-Sik
    • Journal of the Korean Geographical Society
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    • v.29 no.3
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    • pp.297-317
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    • 1994
  • This study demonstrates the changes in the spatial organization of Korea by the construction of Seoul-Pusan railroad. This Seoul-Pusan line, which is the most important one in Korea was constructed in 1905. The original plan of the line was selected to cross the main traditional roads to control the entire Korean peninsular and to mobilize the Korean commercial potentials. It was the line to exploit the staples and to expand the Japanese market in Korea. In accordance with the contracts between Japan and Korean government, Korean government had to supply the lands for railroad, office, and service facilities. That was one of the important reasons that Korean government had been broken down. The main findings of this study are as follows: 1. The Seoul-Pusan railroad line was constructed Japanese colonial policy which emphasized three main purposes; the first was to reorganize the economic space and to collapse the traditional Korean markets for Japanese ruling, and the second was to find out the military supply routes, and the third was to search for the transcontinental line for China and Siberia. As the results, the old Korean pedestrian routes, which were the Eastern, the mid, the westren, and the Samnam route lost their functions. 2. Japanese requested for Korean government usually ten times of wider space for the site of stations than the needed one. The land was expropriated, and constructed the new centers aparted from the original Korean towns. In this process Japanese got the most developmental and windfall profits. The newly constructed centers were for Japanese immigration and the town service facilities which would be used to control the Korean financial market. At last, they easily converted the Korean spatial economy into Japanese colonial one, which made to reinforce the sphere of Seoul-Pusan line. 3. Japanese planned the stations as the central points in Korea. So the railroad stations were located apart from the centers of towns, to avoid the Korean resistances, and to maximize their profits. The mean distance from staiton to 'the town center is about 1km while the Japanese case is 0.6km. 4. The pattern of present Korean railroads is not the 'X type'. Because the Honam line is not the trunk one. So, we could call the Korean railroad pattern as the 'Ip(Chinese character 入) type' . The operational effects of Seoul-Pusan line brought out the concentration of the national economy to this line as Japanese planned. And the polorization had occurred between this line and the other parts of Korea. For twenty years (1910-1930), the transported freights were increased about 5 times. In 1930, the total freight of Seoul-Pusan line became 2, 010, 444 metric tons. If we examine this process, the underconstructing Seoul-Pusan express electric railroad should avoid adjacent this line to reduce the regional and ecological imbalance. 5. The forms of centers on the Seoul-Pusan line were classified into six types in relation to station, town center, and built-up area; the compact (integrated) type, the elongated one, the splited (independent) one, the absorbed one, the consolidated one, and the declined one. All types of these towns might be developed in accordance with the centrality, railroad function, and the other transportational functions. 6. The Seoul-Pusan line plays the most important role among Korean railroads but the ratio of passenger and freight become lower because the effiects of other inaugurated railoads the different transportation modes such as trucks and cars would be got more merits in competition. 7. The results of cluster analyses on the cities of railroad stations showed the rudimentary urban systems in 1910 and 1930. In 1930, the cities were classified into three groups; the group of small cites, the intermediate (developing) city-group, and the special city-group. In 1930s the spatial organization and urban system of Korea were similar to the present ones. We call appreciate that these were the effects of the Seoul-Pusan line.

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The Present Situation and Challenges of the Russian Music Industry: Centered on the Digital Sound Sources (러시아 음악 산업 현황과 과제 - 디지털 음원을 중심으로 -)

  • Kwon, ki-bae;Kim, Se-il
    • Cross-Cultural Studies
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    • v.50
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    • pp.395-424
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    • 2018
  • The purpose of this paper is to examine the current situation and background of the Russian consumer music market, where digital music sources are making great strides in the noted recent years. In addition, music storage technology, media and change are considered together in this report. Moreover, Russia is the 12th largest music market in the world. The Russian music industry is following the recent trend of the global music industry, where the digital music market is growing rapidly on many different levels. The explosive growth of the digital sound sources in Russia's music industry is attributed to the explosive increase in available consumer downloads, streaming sound source service, and the increase in the number of digital sound sources using mobile technologies due to the development of the Internet. In particular, the sales of the available and accessible streaming sound sources are expected to grow explosively by the year 2020, which is expected to account for more than 85% of total digital music sales. In other words, the spread of smartphones and the resulting changes in the lifestyle of the Russians have created these changes for the global consumer of music. In other words, the time has come for anyone to easily access music and listen to music without a separate audio or digital player. And the fact that the Russian government's strong policy on the eradication of illegal copying of music is becoming an effective deterrent, as is also the factor that led to the increase of the share of the digital sound source to increase sales in Russia. Today, the Russian music industry is leading this change through the age and process of simply adapting to the digital age. Music is the most important element of cultural assets, and it is the beneficial content, which drives the overall growth of the digital economy. In addition, if the following five improvements(First, strengthen the consciousness of the Russian people about copyright protection; Second, utilizing the Big Data Internet resources in the digital music industry; Third, to improve the monopoly situation of digital music distributors; Fourth, distribution of fair music revenues; and Fifth, revitalization of a re-investment in the current Russian music industry) are effective and productive, Russia's role and position in the world music market is likely to expand.

Changes in Fatty Acid Composition and Phytosterol Content During Ripening Period of the Autumn-Sown Waxy Corn (가을재배 찰옥수수의 등숙에 따른 지방산 조성 및 Phytosterol 함량 변화)

  • Kim, Sun-Lim;Kim, Mi-Jung;Jung, Gun-Ho;Lee, Jin-Seok;Son, Beom-Young;Kim, Jung-Tae;Bae, Hwan-Hee;Go, Young-Sam;Baek, Seong-Bum
    • KOREAN JOURNAL OF CROP SCIENCE
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    • v.64 no.1
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    • pp.25-32
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    • 2019
  • This study was carried out to investigate the changes in fatty acid composition and phytosterol content of the autumn sowing waxy corn during its ripening period for the production of high quality and value-added fresh ears. The content of crude oil in the waxy corn kernels steadily increased with days after pollination(DAP); the crude oil content in Heukjinjuchal (HC) was higher than that in Ilmichal (IC). The composition of fatty acids according to DAP showed a statistically significant change; palmitic and linoleic acid composition gradually decreased, but oleic acid increased, and the composition of unsaturated fatty acids in HC was higher than that in IC. The phytosterol content was increased until 33 DAP, and was 937.7 mg/100g and 867.9 mg/100g in IC and HC, respectively, but there was no statistically significant difference between the varieties. The phytosterol contents in IC varied in the following order: ${\beta}-sitosterol$ > stigmasterol > campesterol, but that in HC varied in the order ${\beta}-sitosterol$ > campesterol > stigmasterol. The campesterol content did not show significant differences between the varieties, but the stigmasterol and ${\beta}-sitosterol$ content was significantly higher in HC than in IC. Palmitic, linolieic, and linolenic acid were significantly correlated with campesterol and ${\beta}-sitosterol$, and stearic acid was positively correlated with stigmasterol. Oleic acid was positively correlated with campesterol and ${\beta}-sitosterol$ but negatively correlated with stigmasterol. As a result, it was suggested that fatty acids may affect the variation in phytosterol contents during the ripening period in waxy corn.

The Effect of CO2 Fixation for Microalgae based on CO2 Concentration and Flow Rate (이산화탄소 농도 및 유속에 따른 하천 내 미세조류의 이산화탄소 고정 효과)

  • Park, Hyomin;Lee, Sangdon
    • Journal of Wetlands Research
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    • v.20 no.4
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    • pp.363-369
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    • 2018
  • One of the recent environmental problems is climate change due to the increase of atmospheric $CO_2$, which causes ecological changes and various environmental problems. Therefore, various studies are being carried out to reduce $CO_2$ in the world in order to solve various environmental problems caused by increase of $CO_2$. The $CO_2$ reduction using microalgae is an environmentally friendly method by using photosynthesis reaction of microalgae. However, most studies using single species. There is no study on the $CO_2$ fixing efficiency of microalgae in natural rivers. Therefore, this study was to identify the microalgae in the Sum river and to analyze the growth characteristics of microalgae in the river to obtain optimal culture conditions. And the changes of biomass and chlorophyll-a of microalgae were analyzed according to $CO_2$ concentration and injection rate. The purpose of this study was to investigate the fixing efficiency of carbon dioxide in microalgae in natural rivers. Six kinds of dominant species were observed as a result of the identification of microalgae in Sum river(Ankistrodesmus falcatus, Scenedesmus intermedius, Selenodictyum sp., Xanthidium apiculatum var. laeve, Cosmarium pseudoquinarium, Dictyosphaerium pulchellum). All of these species were green algae. Biomass and chlorophyll-a increased with the increase of $CO_2$ concentration and biomass and chlorophyll-a increased faster flow rate at the same $CO_2$ concentration. Also, the quantity of $CO_2$ fixation on the microalgae tended to be higher when the flow rate of injected gas was faster. This study can be referred as being significant in the micro-algae in river. In addition, the optimal conditions for $CO_2$ fixation of microalgae in rivers and the quantification of the quantity of $CO_2$ fixation from microalgae in rivers can be used as basic data for future policy of $CO_2$ reduction.

Changes of Ecosystem Services in Agricultural Area According to Urban Development Scenario - For the Namyangju Wangsuk District 1, the 3rd Phase New Town - (도시개발 시나리오에 따른 농업지역의 생태계서비스 변화 분석 - 3기 신도시 남양주 왕숙1지구를 대상으로 -)

  • Kim, Sukyoung;Choi, Jaeyeon;Park, Chan;Song, Wonkyong;Kim, Suryeon
    • Journal of Environmental Impact Assessment
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    • v.30 no.2
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    • pp.117-131
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    • 2021
  • Urban development is continuously being carried out to stabilize housing supply. The importance of ecosystem services assessments considering the various urban spatial structures is emerging as land use change in the wake of urban development has impact on the provision of ecosystem services. However, few studies are available as to the effects of land use transition in agricultural land due to urban development on ecosystem services. The purpose of this study is to examine the applicability of decision-making in the urban planning process by analyzing the impact of land use change on ecosystem services due to urban development. Therefore, the scenario was set on before and after the city development, targeting Namyangju Wangsuk Zone 1 and InVEST model was used to compare and analyze changes in value of ecosystem services. Analysis results of ecosystem services before the urban development, it turned out that habitat quality and water yield increased overtime but carbon storage and crop production decreased. Analysis results of ecosystem services after the urban development indicated that all items in ecosystem services by scenario decreased more than in 2018. Among the scenarios of urban development, compact city had the lowest value of water resource supply but had the highest value in terms of habitat quality, carbon storage amount, and crop production. The study results demonstrate that the compact city has positive effects on ecosystem services and is expected to be used as the basic data for supporting policy decision-making in the establishment of future urban development and management plans.

Future Prospects of Forest Type Change Determined from National Forest Inventory Time-series Data (시계열 국가산림자원조사 자료를 이용한 전국 산림의 임상 변화 특성 분석과 미래 전망)

  • Eun-Sook, Kim;Byung-Heon, Jung;Jae-Soo, Bae;Jong-Hwan, Lim
    • Journal of Korean Society of Forest Science
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    • v.111 no.4
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    • pp.461-472
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    • 2022
  • Natural and anthropogenic factors cause forest types to continuously change. Since the ratio of forest area by forest type is important information for identifying the characteristics of national forest resources, an accurate understanding of the prospect of forest type change is required. The study aim was to use National Forest Inventory (NFI) time-series data to understand the characteristics of forest type change and to estimate future prospects of nationwide forest type change. We used forest type change information from the fifth and seventh NFI datasets, climate, topography, forest stand, and disturbance variables related to forest type change to analyze trends and characteristics of forest type change. The results showed that the forests in Korea are changing in the direction of decreasing coniferous forests and increasing mixed and broadleaf forests. The forest sites that were changing from coniferous to mixed forests or from mixed to broadleaf forests were mainly located in wet topographic environments and climatic conditions. The forest type changes occurred more frequently in sites with high disturbance potential (high temperature, young or sparse forest stands, and non-forest areas). We used a climate change scenario (RCP 8.5) to establish a forest type change model (SVM) to predict future changes. During the 40-year period from 2015 to 2055, the SVM predicted that coniferous forests will decrease from 38.1% to 28.5%, broadleaf forests will increase from 34.2% to 38.8%, and mixed forests will increase from 27.7% to 32.7%. These results can be used as basic data for establishing future forest management strategies.

A Preservation of Traditional Landscape through Co-Prosperity in Local Communities - In Case of "Terraced Paddy Fields of Gacheon Village, Namhae", Scenic Site - (지역공동체 상생을 통한 전통경관 보전방안 - 명승 남해 가천마을 다랑이 논을 사례로 -)

  • Kim, Dong-Hyun
    • Journal of the Korean Institute of Traditional Landscape Architecture
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    • v.40 no.2
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    • pp.14-23
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    • 2022
  • The purpose of this study is to preserve the sustainable traditional landscape of the "Terraced Paddy Fields of Gacheon Village, Namhae". To this end, the changes in the traditional landscape and its factors were analyzed, and a conservation plan was sought to coexist with local communities. The results are as follows; First, the traditional scenery of "Terraced Paddy Fields of Gacheon Village, Namhae" is characterized by stonework built on a steep topography to secure cultivated land and narrow rice fields. To this end, local communities have maintained the traditional landscape through their long-established traditional knowledge, but after the designation of cultural heritage, the unique landscape of the "Terraced Paddy Fields of Gacheon Village, Namhae" changed as standardized stone construction methods were applied. Recently, the Cultural Heritage Administration recognized these problems and returned to the direct repair system of local communities, so cultivated land is regaining the scenery of the past. Second, the factors that changed the traditional landscape of the "Terraced Paddy Fields of Gacheon Village, Namhae" were largely found to be a decrease in voluntary conservation consciousness, a limited management range of preservation society, a decrease in agricultural population, and a lack of skilled traditional skills. After the designation of cultural heritage, expectations for policy support by the state or local governments accelerated the damage as existing farmland was neglected, and the lack of agricultural population also resulted in the same result. The preservation society is making efforts to preserve it, but the phenomenon of excessive and insufficient management personnel is intensifying. Conflicts between residents due to profit polarization have spread to the problem of escalating. In addition, there are concerns about the loss of traditional knowledge such as step farming technology and stone construction functions. Third, to suggest a win-win plan with local communities for preserving the traditional landscape, it is necessary to seek the ways to expand farming participants and generate profits through the placement of professional careers and public-private linkage system. In addition, it is desirable to improve the profit distribution system through the preservation society to strengthen the management authority and induce participation. And a support system is required for education on the transmission of terraced farming technology and stone construction functions.

A Study on Predicting the Logistics Demand of Inland Ports on the Yangtze River (장강 내수로 항만의 물류 수요 예측에 관한 연구)

  • Zhen Wu;Hyun-Chung Kim
    • Korea Trade Review
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    • v.48 no.3
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    • pp.217-242
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    • 2023
  • This study aims to analyze the factors influencing the logistics demand of inland ports along the Yangtze River and predict future port logistics demand based on these factors. The logistics demand prediction using system dynamics techniques was conducted for a total of six ports, including Chongqing and Yibin ports in the upper reaches, Jingzhou and Wuhan ports in the middle reaches, and Nanjing and Suzhou ports in the lower reaches of the Yangtze River. The logistics demand for all ports showed an increasing trend in the mid-term prediction until 2026. The logistics demand of Chongqing port was mainly influenced by the scale of the hinterland economy, while Yibin port appeared to heavily rely on the level of port automation. In the case of the upper and middle reach ports, logistics demand increased as the energy consumption of the hinterland increased and the air pollution situation worsened. The logistics demand of the middle reach ports was greatly influenced by the hinterland infrastructure, while the lower reach ports were sensitive to changes in the urban construction area. According to the sensitivity analysis, the logistics demand of ports relying on large cities was relatively stable against the increase and decrease of influential factors, while ports with smaller hinterland city scales reacted sensitively to changes in influential factors. Therefore, a strategy should be established to strengthen policy support for Chongqing port as the core port of the upper Yangtze River and have surrounding ports play a supporting role for Chongqing port. The upper reach ports need to play a supporting role for Chongqing port and consider measures to enhance connections with middle and lower reach ports and promote the port industry. The development strategy for inland ports along the Yangtze River suggests the establishment of direct routes and expansion of the transportation network for South Korean ports and stakeholders. It can suggest expanding the hinterland network and building an efficient transportation system linked with the logistics hub. Through cooperation, logistics efficiency can be enhanced in both regions, which will contribute to strengthening the international position and competitiveness of each port.

A Study on the Characteristics of Enterprise R&D Capabilities Using Data Mining (데이터마이닝을 활용한 기업 R&D역량 특성에 관한 탐색 연구)

  • Kim, Sang-Gook;Lim, Jung-Sun;Park, Wan
    • Journal of Intelligence and Information Systems
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    • v.27 no.1
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    • pp.1-21
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    • 2021
  • As the global business environment changes, uncertainties in technology development and market needs increase, and competition among companies intensifies, interests and demands for R&D activities of individual companies are increasing. In order to cope with these environmental changes, R&D companies are strengthening R&D investment as one of the means to enhance the qualitative competitiveness of R&D while paying more attention to facility investment. As a result, facilities or R&D investment elements are inevitably a burden for R&D companies to bear future uncertainties. It is true that the management strategy of increasing investment in R&D as a means of enhancing R&D capability is highly uncertain in terms of corporate performance. In this study, the structural factors that influence the R&D capabilities of companies are explored in terms of technology management capabilities, R&D capabilities, and corporate classification attributes by utilizing data mining techniques, and the characteristics these individual factors present according to the level of R&D capabilities are analyzed. This study also showed cluster analysis and experimental results based on evidence data for all domestic R&D companies, and is expected to provide important implications for corporate management strategies to enhance R&D capabilities of individual companies. For each of the three viewpoints, detailed evaluation indexes were composed of 7, 2, and 4, respectively, to quantitatively measure individual levels in the corresponding area. In the case of technology management capability and R&D capability, the sub-item evaluation indexes that are being used by current domestic technology evaluation agencies were referenced, and the final detailed evaluation index was newly constructed in consideration of whether data could be obtained quantitatively. In the case of corporate classification attributes, the most basic corporate classification profile information is considered. In particular, in order to grasp the homogeneity of the R&D competency level, a comprehensive score for each company was given using detailed evaluation indicators of technology management capability and R&D capability, and the competency level was classified into five grades and compared with the cluster analysis results. In order to give the meaning according to the comparative evaluation between the analyzed cluster and the competency level grade, the clusters with high and low trends in R&D competency level were searched for each cluster. Afterwards, characteristics according to detailed evaluation indicators were analyzed in the cluster. Through this method of conducting research, two groups with high R&D competency and one with low level of R&D competency were analyzed, and the remaining two clusters were similar with almost high incidence. As a result, in this study, individual characteristics according to detailed evaluation indexes were analyzed for two clusters with high competency level and one cluster with low competency level. The implications of the results of this study are that the faster the replacement cycle of professional managers who can effectively respond to changes in technology and market demand, the more likely they will contribute to enhancing R&D capabilities. In the case of a private company, it is necessary to increase the intensity of input of R&D capabilities by enhancing the sense of belonging of R&D personnel to the company through conversion to a corporate company, and to provide the accuracy of responsibility and authority through the organization of the team unit. Since the number of technical commercialization achievements and technology certifications are occurring both in the case of contributing to capacity improvement and in case of not, it was confirmed that there is a limit in reviewing it as an important factor for enhancing R&D capacity from the perspective of management. Lastly, the experience of utility model filing was identified as a factor that has an important influence on R&D capability, and it was confirmed the need to provide motivation to encourage utility model filings in order to enhance R&D capability. As such, the results of this study are expected to provide important implications for corporate management strategies to enhance individual companies' R&D capabilities.