• Journal of Korea Port Economic Association
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• v.33 no.1
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• pp.47-59
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• 2017

The objective of this study is to determine the short run and long run dynamics between maritime import volume (IMV), industrial production (IP), and real effective exchange rate (REER) of the Korean Won over the REER of certain major currencies (US Dollar, Chinese Yuan, and Japanese Yen) in Korea's Jeonnam province. The Johansen and Juselius cointegration results reveal that at least one cointegration vector or long-run relationship exists. Hence, this study estimated the long run equilibrium equation, which indicates that both IP and REER are inelastic, although the former is bigger than the latter. Moreover, the dynamic causality analysis reveals short and long-run unidirectional causality from IP and REER to IMV in all three models. Further, in all the models, the results indicate short run unidirectional causality from REER to IP. In addition, the impulse response (IR) results show that the impulse of IP and REER decayed after four months. Additionally, the IR analysis results indicate that the REER of the Korean Won over the REER of Japanese Yen is the biggest with respect to the impact of relative REER on IP, which is the proxy variable of regional real income. Thus, empirical results indicated that real income and REER play an important role in determining the Jeonnam's maritime import demand behavior in the short run and long run. More importantly, substantial actions reducing unexpected fluctuation of the REER and real income based on micro and macro economic policies will increase the imported volume in the ports of the Jeonnam province.

• KDI Journal of Economic Policy
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• v.12 no.1
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• pp.111-125
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• 1990

For the last several years, considerable criticism has been leveled against Korea's exchange rate management. While Korea was designated a currency manipulator by the U.S., domestically it is often complained that the won/dollar rate did not adequately reflect changes in Korea's export competitiveness and fluctuations in the exchange rates of major currencies. In view of this situation, Korea changed its exchange regime at the beginning of March this year from the dual currency basket system to a more flexible one, called a "market average rate regime". Under this new regime, the won rate is determined in the exchange market based upon the supply of and demand for foreign exchange and is allowed to freely fluctuate each day within a + 0.4 % range. This paper, first, seeks to evaluate Korea's exchange rate management under the dual basket regime of the 1980s, and then to construct an optimal currency basket for the won which could provide a proper indicator for exchange market intervention under the new market average rate regime. The analysis of fluctuations in the real effective exchange rate (REER) of the won indicates that the won rates in the 1980s failed not only to offset changes in relative prices between home and trading partner countries, but also to properly respond to variations in major exchange rates as further evidenced by sizable fluctuations in the nominal effective rates of the won. In other words, the currency basket regime which was adopted in 1980 for the stabilization of the REER of the won has not been operated properly, mainly because authorities often resorted to policy considerations in determining the won's rate. In the second part of the paper, an optimal currency basket for Korea is constructed, designed to minimize the fluctuations in the REER of the won without including policy considerations as a factor. It is recognized, however, that both domestic and foreign price data are not available immediately for the calculation of the REER. For this problem, the approach suggested by Lipschitz (1980) is followed, in which optimal weights for currencies in the basket are determined based upon the past correlation between price and exchange rates. When the optimal basket is applied to Korea since the mid-80s, it is found that the REER of the won could have been much more stable than it actually was. We also argue for the use of variable weights rather than fixed ones, which would be determined by the changing relationship between exchange rates and relative prices. The optimal basket, and the optimal basket exchange rate based on that basket, could provide an important medium- or long-term reference for proper exchange market intervention under the market average rate regime, together with other factors, such as developments in the current account balance and changes in productivity.

• Proceedings of the KSR Conference
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• 2008.06a
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• pp.1333-1339
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• 2008

Typically, we regularly have carried out a technical review to know a progress status and outcomes of a project to the appropriate technical plans. But during the technical review executed at a planned point of time, lots of problems; reports of an ambiguous progress status and outcomes, a discordance between opinions, and an hour's delay, have been occurred. To solve those problems an early stage, an informal reviews are executed before the formal technical review. One of the informal review is the Peer-Review. This paper is a matter of the effective and efficient Reer-Review process utilized in performing the national research and development project. Additionally, it was presented a general misunderstanding and improvement plan about the Peer-Review.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.771-780
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• 2021

The study assesses the impact of tariffs on Vietnam's trade in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Research data was conducted between 2001 and 2018 on the official website of the Uncomtrade and the World Bank. This paper uses the gravity model to estimate the relationship between data series and considers the impact of factors on Vietnam's trade with CPTPP countries. The results have proven that tariff reductions have a positive effect on Vietnam's trade. Besides, the trade openness of Vietnam and CPTPP countries has positive impacts on Vietnam's trade. The study also shows that Real Effective Exchange Rate (REER) between Vietnam's and CPTPP countries' currencies has no strong effect on Vietnam's trade. Based on these findings, the article also suggests a number of policies to promote Vietnam's trade in future. In order to support businesses to better utilize opportunities and promote exports to CPTPP countries, the government of Vietnam should: (1) focus on reducing costs and time to participate in the market for production and business investors; (2) improve business investment environment to mobilize resources for production; and (3) continue to organize information campaigns to raise businesses' awareness of how to take advantage of CPTPP preferences.

• Journal of the Institute of Electronics Engineers of Korea TC
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• v.45 no.1
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• pp.42-50
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• 2008

Unlike a cellular network, a mobile ad hoc network(MANET) is constructed only by mobile nodes without access point. Mobile nodes in MANET operate with scarce resources and restricted battery. If battery of intermediate node is exhausted, overall network might be diverged. Therefore, power-aware is really important. An on-demand multipath routing protocol which is proposed to compensate for shortcoming of on-demand single path routing protocol can reduce mute discovery overhead because route discovery starts only when all routes are disconnected. AOMDV(Ad hoc On-demand Multipath Distance Vector) which is on-demand multipath routing protocol based on AODV, reduces 40% of route discovery frequency. However, AOMDV have none of power-aware. So AOMDV have problem that route discovery for power exhaustion is not reduced at all. This paper proposes new power-aware path selection algorithm for AOMDV and scheme that broadcast REER packets when mobile node's battery can be gone. Performance comparison of proposed algorithm with AOMDV using ns-2 simulator shows that route discovery of proposed algorithm is reduced maximally 36.57% than AOMDV's.

• Korean Chemical Engineering Research
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• v.47 no.1
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• pp.133-140
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• 2009

This paper presents the experimental study to analyze the pressure and production behavior using depressurization and thermal methods in order to evaluate the hydrate productivity in the 2-D multi-well, plate-type apparatus which has 80 md permeability and 30% hydrate saturation. Injecting methane gas through multi-well allowed to set up the highly saturated hydrate system and combining two different sorts of sands made possible to build up the low permeability system. In this system, both depressurization and electric stimulation methods were applied. When operating pressure was low, according to the depressurization experiments results, the gas recovery was high, however strong pulses which appeared at initial stage of production would damage the operation system. Moreover, cases that hydrate reformed have occurred by endothermic reaction. We have conducted experiments four and six times for the depressurization magnitudes of 140 psi and 320 psi, respectively, to analyze production behavior for the method more in detail. For the cases that the depressurization magnitude was set as 140 psi, the unstable period appears in the results, but stabilized soon. In the experiment results for 320 psi the discontinuous and intermittent behavior has been observed. Thermal stimulation experiments was conducted with depressurizing 80 psi which is the case that shows stable behavior and low recovery. In the results, the gas recovery was high and the energy efficiency was low for long stimulating time. The energy efficiency and gas recovery increased for the soaking time of 1 minute after 2 minute-preheating. In the cases of which the soaking time exceeds 1 minute, energy loss by long soaking time caused low gas recovery and poor energy efficiency.