• The Korean Journal of Financial Management
• /
• v.2 no.1
• /
• pp.55-75
• /
• 1986

This article is to analyse the economic efficiency of capital market, which plays a role of resource allocation in terms of financial claims such as stock and bond. It provides various contributions to the welfare theoretical aspects of modern capital market theory. The key feature that distinguishes the theory described here from traditional welfare theory is the presence of uncertainty. Securities has time dimensions and the state and outcome of the future are really uncertain. This problem resulting from this uncertainty can be solved by complete market, but it has a weak power to explain real stock market. Capital Market is faced with the uncertainity because it is a kind of incomplete market. Individuals and firms in capital market made their consumption-investment decision by their own criteria, i. e. the maximization of expected utility form intertemporal consumption and the maximization of the market value of firm. We noted that allocative decisions that had to be made in the economy could be naturally subdivided into two groups. One set of decisions concerned the allocation of first-period resources among consumption $C_i$, investment in risky firms $I_j$, and riskless investment M. The other decisions concern the distribution among individuals of income available in the second period $Y_i(\theta)$. Corresponing to this grouping, the theoretical analysis of efficiency has also been dichotomized. The optimality of the distribution of output in the second period is distributive efficiency" and the optimality of the allocation of first-period resources is 'the efficiency of investment'. We have found in the distributive efficiency that the conditions for attainability is the same as the conditions for market optimality. The necessary and sufficient conditions for attainability or market optimality is that (1) all utility functions are such that -$\frac{{U_i}^'(Y_i)}{{U_i}^"(Y_i)}={\mu}_i+{\lambda}Y_i$-linear risk tolerance function where the coefficients ${\mu}_i$ and $\lambda$ are independent of $Y_i$, and (2) there are homogeneous expectations, i. e. ${\Large f}_i(\theta)={\Large f}(\theta)$ for every i. On the other hand, the efficiency of investment has disagreement about optimal investment level. The investment level for market rule will not generally lead to Pareto-optimal allocation of investment. This suboptimality is caused by (1)the difference of Diamond's decomposable production function and mean-variance valuation model and (2) the selection of exelusive investment or competitive investment. In conclusion, this article has made an analysis of conditions and processes of Pareto-optimal allocation of resources in capital marker and tried to connect with significant issues in modern finance.

• Korean Chemical Engineering Research
• /
• v.45 no.3
• /
• pp.249-257
• /
• 2007

The periodic square wave (PSW) model was successfully applied to the optimal design of a batch-storage network. The network structure can cover any type of batch production, distribution and inventory system, including recycle streams. Here we extend the coverage of the PSW model to multitasking semi-continuous processes as well as pure continuous and batch processes. In previous solutions obtained using the PSW model, the feedstock composition and product yield were treated as known constants. This constraint is relaxed in the present work, which treats the feedstock composition and product yield as free variables to be optimized. This modification makes it possible to deal with the pooling problem commonly encountered in oil refinery processes. Despite the greater complexity that arises when the feedstock composition and product yield are free variables, the PSW model still gives analytic lot sizing equations. The ability of the proposed method to determine the optimal plant design is demonstrated through the example of a high density polyethylene (HDPE) plant. Based on the analytical optimality results, we propose a practical process optimality measure that can be used for any kind of process. This measure facilitates direct comparison of the performance of multiple processes, and hence is a useful tool for diagnosing the status of process systems. The result that the cost of a process is proportional to the square root of average flow rate is similar to the well-known six-tenths factor rule in plant design.

• Journal of the Korean Society of Safety
• /
• v.34 no.5
• /
• pp.37-45
• /
• 2019

The characteristic of fire and explosion related to electrostatic discharge is that it is difficult to reproduce the electrostatic charge and discharge phenomenon in addition to the large human and material damage. Therefore, in order to prevent accidents and disasters related to electrostatic in fire and explosion hazard areas, it is important to manage the level of electrostatic in a safe manner from the perspective of system between industrial facilities and human bodies. Rule 325 of the Occupational Safety and Health Regulations, "Prevention of Fire / Explosion due to Electrostatic", requires the use of grounding, conductive materials, humidification and electrification in order to prevent the risk of disaster caused by static explosion and electrostatic in the production process. In order to comply with these measures, related technologies, standards and systems are needed from the viewpoint of preventive measures related to electrostatic in fire and explosion hazard areas, but in Korea, it is still insufficient. Therefore, technical, institutional and managerial measures are needed as a precautionary measure to improve the level of ESD safety in fire and explosion hazard areas and prevent electrostatic related injury. In Korea, we analyzed the current status and characteristics of electrostatic related disaster by using the statistics of industrial accident and fire statistics of the Ministry of Employment and Labor. We also analyzed the current status and characteristics of electrostatic related disasters in Japan using JNIOSH accidents and disasters investigation cases and JNIOSH fire accident data of Japan Fire Bureau. The purpose of this study is to compare and analyze the current status of electrostatic related accidents and disasters in Korea and Japan in order to improve the safety management of electrostatic in fire and explosion hazard areas. In order to prevent accidents and disasters in the industrial field, The technical, institutional, and managerial measures to manage the level of electrostatic in a safe state were derived from the system point of view.

• Computers and Concrete
• /
• v.31 no.3
• /
• pp.267-276
• /
• 2023

The main purpose of the current research is to develop an efficient two variables trigonometric shear deformation beam theory to investigate the buckling behavior of symmetric and non-symmetric functionally graded carbon nanotubes reinforced composite (FG-CNTRC) beam resting on an elastic foundation with various boundary conditions. The proposed theory obviates the use to shear correction factors as it satisfies the parabolic variation of through-thickness shear stress distribution. The composite beam is made of a polymeric matrix reinforced by aligned and distributed single-walled carbon nanotubes (SWCNTs) with different patterns of reinforcement. The material properties of the FG-CNTRC beam are estimated by using the rule of mixture. The governing equilibrium equations are solved by using new analytical solutions based on the Galerkin method. The robustness and accuracy of the proposed analytical model are demonstrated by comparing its results with those available by other researchers in the existing literature. Moreover, a comprehensive parametric study is presented and discussed in detail to show the effects of CNTs volume fraction, distribution patterns of CNTs, boundary conditions, length-to-thickness ratio, and spring constant factors on the buckling response of FG-CNTRC beam. Some new referential results are reported for the first time, which will serve as a benchmark for future research.

• The Korean Journal of Archival Studies
• /
• no.13
• /
• pp.91-134
• /
• 2006

In general, personally collected archives, manuscripts, are physically badly conditioned and also contextual of the archives and information on the history of production is mostly collected partly in the manuscripts. Therefore they need to control the name of the producers on the archives collected in various ways effectively and accumulate provenance information which is the key element when understanding the production background in the collecting repository. Here, the authority control and provenance information management must be organized from the beginning of acquisition and this means to collect necessary information considering control process of acquisition as well. This thesis is for verifying the necessity of the authority control in collecting repository and accumulation of the provenance information and for suggesting the things to be considered as collecting Archival authority system. For all these, this thesis shows that it has checked out the necessity of the authority control in archival management and archival authority control and researched the standard of archival authority control, work process and accumulation process. Archival provenance information management and authority control in the archival authority control system are organized through the whole steps of the archival management starting from the lead file to the name of the producers at archival registration and archival description at acquisition. And a lot of information is registered and described at the proper point of time and finally all the information including authority control which controls the Heading in the authority management must be organized to use them as an intellectual management of archives and Finding Aids. The features of the Archival authority system are as follows; first of all, Authority file type which is necessary at the archival authority control of democracy movement is made up of the name of the group, person, affair and terminology(subject name). Second of all, basic record structures and description elements in authority collection of Korea Democracy Foundation Archives apply in the paragraph 1 of ISAAR(CPF) adding some necessary elements and details of description rule such as spacing words and using the periods apply in the paragraph 4 of KCR coping with the features of the archival management system. And also the way of input on the authority record is based on EAC(Encoded Archival Context). Third of all, it made users approach to the sources which they want more easily by connecting the authority terms systemically making it possible to connect the relative terms with up and down words, before and after words variously and concretely expanding the term relations rather than earlier traditional authority system which is usually expressed only with relative words (see also). So the authority control of archival management system can effectively collect and manage the function of various and multiple groups and information on main activities as well as its own function which is controlling the Heading and express the multiple and intermediary relationship between archives and producers or between producers and it also provides them with expanded Record information service which satisfies user's various requests through Indexing service. Finally applying in this international standard ISAAR(CPF) through the instance of the authority management like this, it can be referred to making Archival authority system in Collecting repository hereafter by reorganizing the description elements into appropriate formations and setting up the authority file type which is to be managed properly for every service.

• Cartoon and Animation Studies
• /
• s.31
• /
• pp.117-152
• /
• 2013

is a comics that the original Yoshokawa Eiji's novel . Since the series started in 1998, it's epic that records the 54 million or more copies of the cumulative sales volume to 1.7 million unit volume average in the book, 34 are currently up to volume has been published. proceeds with narratives in a way of following naturally the personality of a character based on the rule of an author, which is 'people should be described as what they are'. Accordingly it features very unique characterizing. This study focused on the fact that numerous characters in maintain a structural balance through the establishment of a character composition in an antipodal relationship although those characters have strong personalities. In order to analyze the relationship of such characters, the study utilized as an analytic frame MBTI personality types theory which is a psychology test tool. First, the study inferred personality patterns as the temperamental characteristics of MBTI, and tried to analyze the antipodal character composition based on the combination of cognition and judgment which are assumably the most important functions. From this, the study was able to discover the following three structures applied to those characters. (1) The antipodism between Musasi, the main character and Kojiro, a mirror character becomes central to the work, (2) The antipodal relationship between their fosterers and the character playing the mentor's role extends the character attribute of Musasi and Kojiro. (3) The Yoshioka family was also established in the antipodal composition as a role of exchanging influences with Musasi and Kojiro. Through this, the study reached a conclusion that in the pairs of characters in contrast were established as if to reach a dialectic synthesis. As such, the antipodal structuralization of the character composition shown in is deemed to differentiate the inner sides of numerous unique characters; thereby make it possible to describe their inner sides in-depth. Finally, the following common context is found: works in the field of successful comics and animation in terms of criticism and performance are focused on characters. It is probably because their consumers are relatively very interested in those characters as the characters in comics or animation become differentiated from those of novels or movies. Subsequently, it is expected that the analyzed results of characterizing can be referred to during the production of contents by preparing the results as database.

• Journal of Sericultural and Entomological Science
• /
• v.2
• /
• pp.49-61
• /
• 1962

The insect Diplosis mori Yokoyama is causing extensive destruction of mulberry trees in Korea with a resultant loss in silk production. This study was made to determine an effective method of control. Methods and Materials Used Preliminary studies were made to determine more exactly the life cycle of the insect. Based on this information, various control measures were tested, including the use of spray methods with BHC and control of larvae by tilling. Results Obtained 1. Life cycle studies (a) In the Suwon area, this-insect has 5 generations per year. The first starts in the later part of June and the final cycle ends in the later part of September. (b) The adult insects appear about 7: 00-8: 00 P.M. and live for 2-5 days. Females live in longer periods than the male. (c) Larvae lives inside the second and third stipules (A. B.) before mulberry leaf development. They cause extensive damage to the leaves at the point where they are attached to the stem. (d) Weather conditions considerably affect the life cycle. The pupa particularly are affected and not be able to change into the moth stage when there is a long period of no rain. (e) Larvae are large......0.3 to 2.0mm......and are milky-white immediately after hatching but turn to pinkish as the worm matures. The matured worm has a jumping ability up to 15-20cm. The worm burrows into the ground 1.5 to 3.0 cm before changing into the pupal stage. (f) The pupal stage usually lasts 7-8 days, in summer weather conditions and the pupa is surrounded with a coarse cocoon. (g) These insects, as a general rule, overwinter as pupae but sometimes as larvae. 2. Control measures (a) BHC dust applied on the ground seem most effective. It should be done 4-5 days after the worm has burrowed into the ground. For this control, it is recommended that 6kg of a 2% formation Tanbo(l0ares) be used. (b) For the effective spraying against the fly, it is recommended that a formulation of liquid BHC spray terials be used at the rate of 400-600 liters per Tanbo. (c) Tillage methods which provide a cover of soil 5cm or more in depth above infested areas will effect-maively prevent the emergence of the fly from the pupal stage. 3. Conclusions Methods of control against Diplosis mori Yokoyama can be tied more closely to the life cycle of the insect with more effective results. Further studies are needed to complete information on possible controls during or after hibernation. Economic studies on the cost of these control measures are also needed.

• Environmental and Resource Economics Review
• /
• v.13 no.3
• /
• pp.519-547
• /
• 2004

This paper analyze problems about scope of specific trade obligations(STOs), principle of dispute settlement procedure, and non-parties in context of the Cartagena Protocol on Biosafety(POB), which based on sub-paragraph 31(i) of DDA WTO Ministrial Declaration. The implications based on result of this study are as follows. First, to accept the wider scope of STOs under POB in Korea, importing country, won't be harmful to LMOs and Bioindustry. Instead, it will ensure a high level of biosafety concerning the import of LMOs. Exporters can take different kinds of trade measures to countervail adverse effect on the export of LMOs in this case. Therefore importer will endure the aftereffect. However, if korea were in exporter's place, to accept the wider scope STOs under POB will not have a good influence on the export of LMOs. Korea, therefore, should devise scheme for responding to debate about the STOs in MEAs, which have to be based on cost-benefit analysis and scenarios taking into account of speed and level in biotechology progress, status and trend of LMOs R&D and production, and condition of other industries. Second, it is not easy to agree with applying to what's rule between the POB and WTO for settlement dispute. Because there is the incompatibility between the POB characterized according to social rationality and WTO's rules for safety and environmental protection characterized according to scientific rationality. This issue have to be discussed for long period due to gap like that. Accordingly Korea, one of major LMOs importing countries, should suggest continuously that the effort is needed to ensure an adequate level of protection in transboundary movements of LMOs and scientific, environmental and socio-economic study. Third, in case of dispute between party and non-party of the POB, the duties under the WTO of non-party of the POB(if WTO member country) is valid. The country, therefore, will try to settle dispute based on WTO's rules. However, international society have to ensure for sound and safe use of LMOs in the field of transboundary movements. Accordingly Korea should devise scheme for preventing the possibility of dispute between party and non-party of the POB(if WTO member country), which is supported by policy options under the POB.

• Korean Journal of Heritage: History & Science
• /
• v.49 no.2
• /
• pp.20-55
• /
• 2016

Koguryo's tomb mural paintings in North Korea are our precious cultural heritage which have been designated as UNESCO World Heritage property receiving high praise in the following criterion, i) exceptional creativeness of human being, ii) representative value showing the stage of development in construction history of East-Asia, iii) aesthetic superiority iv) uniqueness of building construction including tombs' ceiling. Mural paintings have been found from almost 100 tombs of the Koguryo dynasty out of 130 which are scattered across Huanren County, Lianoning Province, Ji'an, Jilin Province in China and Pyongyang in North Korea. Especially, most of them are gathered in Pyongyang from 4th and 5th century. Peculiarly, some of them have been constructed before King Jangsu's transfer of the capital to Pyongyang(AD 427). It can be regarded that Pyongyang territory had been under control of Koguryo and to become a new capital in the near future. And dense emergence of such tombs since the capital transfer from Gungnae City to Pyongyang during the reign of Jangsu is linked closely to the construction of tombs for rulers under strengthen royal authority of Jangsu and centralized system of authoritarian rule. Tomb mural paintings describe the owner's figure pictorially based on the truth just as in his living years. General lifestyles of ruling powers and sovereigns can be seen from the wall paintings portraying several buildings with various styles, figures, manners of living, which are considered that the tomb owner had led politically and sociologically in his life. In spite of not enough proofs to approve figure of architectures or "Gong-Po" in wall paintings on the tombs as those of Koguryo, it is persuasive with consideration for painting and decoration inside the tomb like wooden building in real life for the purpose of reenacting and continuing the tomb owner's luxurious life after death. "Du-Gong-Po-Zak" had appeared in company with Koguryo tomb murals and it can be found in most of the murals. And the emergence of substantial "Gong-Po-Do" can be counted more than a century ahead of the figure in murals. It could be a reasonable assumption as regards Koguryo tomb murals time of appearance match up with production period of Gahyungmyunggi(家形明器) and Hwasangseok(畵像石) Hwasangjeon(畵像塼) Design in the Mural Painting of the East-Han(東漢) Ancient Tombs in China. On this study, architectural "Gong-Po"s described in Koguryo tomb murals are categorized largely in "Bi(non)-Po-Zak-kye", "Jun(semi)-Po-Zak-kye", and "Po-Zak-kye" based on presence of "Ju-Du", "Cheom-Cha", and "Cheom-Cha-Sal-Mi" with developmental aspect, and, "Po-zak" is subdivided as "Bi(non)-Cheul-Mok" and "Cheul-Mok" types.

• Journal of Ginseng Culture
• /
• v.5
• /
• pp.32-51
• /
• 2023

Because red ginseng was exported in large quantities to the Qing Dynasty in the 19th century, a large-scale ginseng cultivation complex was established in Kaesong. Sibyunje (時邊制), a privately led loan system unique to merchants in Kaesong, made it possible for them to raise the enormous capital required for ginseng cultivation. The imperial family of the Korean Empire promulgated the Posamgyuchik (包蔘規則) in 1895, and this signaled the start of the red ginseng monopoly system. In 1899, when the invasion of ginseng farms by the Japanese became severe, the imperial soldiers were sent to guard the ginseng farms to prevent the theft of ginseng by the Japanese. Furthermore, the stateled compensation mission, Baesanggeum Seongyojedo (賠償金 先交制度), provided 50%-90% of the payment for raw ginseng, which was paid in advance of harvest. In 1895, rising seed prices prompted some merchants to import and sell poor quality seeds from China and Japan. The red ginseng trade order was therefore promulgated in 1920 to prohibit the import of foreign seeds without the government's permission. In 1906-1910, namely, the early period of Japanese colonial rule, ginseng cultivation was halted, and the volume of fresh ginseng stocked as a raw material for red ginseng in 1910 was only 2,771 geun (斤). However, it increased significantly to 10,000 geun between 1915 and 1919 and to 150,000 geun between 1920 and 1934. These increases in the production of fresh ginseng as a raw material for red ginseng were the result of various policies implemented in 1908 with the aim of fostering the ginseng industry, such as prior disclosure of the compensation price for fresh ginseng, loans for cultivation expenditure in new areas, and the payment of incentives to excellent cultivators. Nevertheless, the ultimate goal of Japanese imperialism at the time was not to foster the growth of Korean ginseng farming, but to finance the maintenance of its colonial management using profits from the red ginseng business.