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Political Economic Analysis of the Central Bank Digital Currency (중앙은행 디지털 화폐에 대한 정치경제학적 분석)

  • YoungBin Hahn
    • Analyses & Alternatives
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    • v.7 no.2
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    • pp.147-178
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    • 2023
  • While most of countries today are opposing the issuance of private-led cryptocurrency, nevertheless they are actively jumping into the issuance of government-led digital currency such as CBDC. This article aims to find an answer to this dual attitude of countries. To achieve the purpose, this article finds out the characteristics of political power and economic interest that digital currency has and applies it to the international dimension of the Bretton Woods II System. Then come up to the conclusion that the answer can be found in the fact that the current dual attitude of countries is closely related to the crisis of the international monetary order. The Bretton Woods II System, which led the world economy through reckless monetary expansion based on credit currency, exposed its limitations through the 2008 global financial crisis and put countries into difficulties. In this situation, the cryptocurrency, which appeared by raising the issue of the monopoly power of the central authority in issuing currency, had no choice but to act as an opportunity to drive countries further and further into a corner. This article views CBDC as a national response to address these issues. In other words, countries maintain their monetary power by absorbing the challenge of private digital currency at the government level through CBDC, and use this as a stepping stone to reorganize the international monetary order in crisis with the intention to use it as a means to their advantage. That is what this article is trying to argue.

Physical Model Experiment for Estimating Wave Overtopping on a Vertical Seawall under Regular Wave Conditions for On-Site Measurements (현장 월파계측을 위한 규칙파 조건에서 직립식 호안의 월파량 추정에 관한 모형실험)

  • Dong-Hoon Yoo;Young-Chan Lee;Do-Sam Kim;Kwang-Ho Lee
    • Journal of Korean Society of Coastal and Ocean Engineers
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    • v.35 no.4
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    • pp.75-83
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    • 2023
  • Apart from implementing hardware solutions like raising the crest freeboard of coastal structures to efficiently counter wave-overtopping, there is a simultaneous requirement for software-driven disaster mitigation strategies. These tactics involve the swift and accurate dissemination of wave-overtopping information to the inland regions of coastal zones, enabling the regulation of evacuation procedures and movement. In this study, a method was proposed to estimate wave-overtopping by utilizing the temporal variation of wave heights exceeding the structure's crown level, with the aim of developing an on-site wave measurement system for providing wave-overtopping information in the field. Laboratory model experiments were conducted on vertical seawall structures to measure wave-overtopping volumes and wave runup heights under different wave conditions and structural freeboard variations. By assuming that the velocity of water inundation on the top of the structure during wave-overtopping events is equivalent to the long-wave velocity, an overtopping discharge coefficient was introduced. This coefficient was utilized to estimate the rate of wave-overtopping based on the temporal changes in wave runup heights measured at the top of the structure. Upon reasonably calculating the overtopping discharge coefficient, it was verified that the estimation of wave-overtopping could be achieved solely based on the wave runup heights.

An Analysis of the Environmental Benefits of the Price Signal Recovery under the Current Electricity Tariff in Korea (국내 계약종별 전기요금 체계의 가격신호 회복에 따른 환경편익 분석)

  • Jae Yeob Kim;Yeonjei Jung
    • Environmental and Resource Economics Review
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    • v.31 no.4
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    • pp.909-930
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    • 2022
  • Although the electricity tariff for each customer class in Korea has an institutional basis which can be linked to cost fluctuations caused by the increase in fuel cost, there is a situation in which it cannot be raised in a timely manner, considering the national economic burden such as inflation. There can be some disagreements about unconditionally raising electricity rates when cost increases occur. It is, however, well known that Korean domestic electricity rates are very low around the world and are in an environment in which rates are not easily adjusted. Moreover, as Korean electricity rates cannot be easily raised due to various factors, domestic electricity rates for each customer class itself have not delivered a desirable price signal for power consumption. Based on historical data such as fuel costs and power production by power source from 2017 to 2020, this study estimated how much power consumption would change if electricity rates were adjusted in 2030 and price signal distortion was resolved. As a result of the estimation, power consumption will be reduced by 9,000 GWh if the current electricity bill is adjusted to a level which can be 100% recovered even with the supply cost alone. This led to a reduction of about 3.82 million CO2tons of greenhouse gas emissions in the Korean power sector.

Rice Seedling Establishment for Machine Transplanting VI. Effect of Mulching Materials on Raising Rice Seedling at Tray for Machine Transplanting (수도 기계이앙 육묘에 관한 연구 Ⅵ.제6보 상자육묘시 피복자재이용 효과)

  • Yun, Yong-Dae;Yang, Won-Ha;Kwang, Yong-Ho;Park, Seok-Hong;Park, Rae-Kyeong
    • KOREAN JOURNAL OF CROP SCIENCE
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    • v.31 no.1
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    • pp.9-15
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    • 1986
  • To establish an efficient light control method using three covering materials on tunnel shaped rice seed-bed at greening stage after seedling emergence, four rice cultivars, Nampungbyeo, Taebaegbyeo, Seonambyeo, and Seomjinbyeo were sown on 15 April and 10 May in 1983 and 1984 respectively. After seedling emergence by a simplified emerging methods the seedling boxes were moved onto tunnel shaped seed-bed which was covered with combined matrials of PE film, silverpoly sheet, and spunbonded polyester fabric. For machine transplanting of rice seedlings in cases of early season and optimum season seeding in central part of Korea, PE film tunnel with silverpoly mulched, and PE film tunnel methods with spunbonded polyester fabric mulched reduced injuries of non-parasitic seedling damping-off and a albinism as affected by it, protected rice seedlings from injuries by extremely low temperature in the night, and reduced less differences in diurnal temperature than those in the other covering methods. At late season seeding for double cropping system of paddy field in southern part of Korea, a single silver-poly or a single spunbonded polyester fabric-covered tunnel method showed good green seedlings, and prevent-ed extreme rising of diurnal temperature by light interception in the tunnel.

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A perceptual study on the correlation between the meaning of Korean polysemic ending and its boundary tone (동형다의 종결어미의 의미와 경계성조의 상관성에 대한 지각연구)

  • Youngsook Yune
    • Phonetics and Speech Sciences
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    • v.14 no.4
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    • pp.1-10
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    • 2022
  • The Korean polysemic ending '-(eu)lgeol' can has two different meanings, 'guess' and 'regret'. These are expressed by different boundary-tone types: a rising tone for guess, a falling one for regret. Therefore the sentence-final boundary-tone type is the most salient prosodic feature. However, besides tone type, the pitch difference between the final and penultimate syllables of '-(eu)lgeol' can also affect semantic discrimination. To investigate this aspect, we conducted a perception test using two sentences that were morphologically and syntactically identical. These two sentences were spoken using different boundary-tone types by a Korean native speaker. From these two sentences, the experimental stimuli were generated by artificially raising or lowering the pitch of the boundary syllable by 1Qt while fixing the pitch of the penultimate syllable and boundary-tone type. Thirty Korean native speakers participated in three levels of perceptual test, in which they were asked to mark whether the experimental sentences they listened to were perceived as guess or regret. The results revealed that regardless of boundary-tone types, the larger the pitch difference between the final and penultimate syllable in the positive direction, the more likely it is perceived as guess, and the smaller the pitch difference in the negative direction, the more likely it is perceived as regret.

Facial Expression Training Digital Therapeutics for Autistic Children (자폐아를 위한 표정 훈련 디지털 치료제)

  • Jiyeon Park;Kyoung Won Lee;Seong Yong Ohm
    • The Journal of the Convergence on Culture Technology
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    • v.9 no.1
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    • pp.581-586
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    • 2023
  • Recently a drama that features a lawyer with autism spectrum disorder has attracted a lot of attention, raising interest in the difficulties faced by people with autism spectrum disorders. If the Autism spectrum gets detected early and proper education and treatment, the prognosis can be improved, so the development of the treatment is urgently needed. Drugs currently used to treat autism spectrum often have side effects, so Digital Therapeutics that have no side effects and can be supplied in large quantities are drawing attention. In this paper, we introduce 'AEmotion', an application and a Digital Therapeutic that provides emotion and facial expression learning for toddlers with an autism spectrum disorder. This system is developed as an application for smartphones to increase interest in training autistic children and to test easily. Using machine learning, this system consists of three main stages: an 'emotion learning' step to learn emotions with facial expression cards, an 'emotion identification' step to check if the user understood emotions and facial expressions properly, and an 'expression training' step to make appropriate facial expressions. Through this system, it is expected that it will help autistic toddlers who have difficulties with social interactions by having problems recognizing facial expressions and emotions.

A study on the child education experiences of married female students who left their children in their home countries for study abroad (모국에 자녀를 둔 기혼 여자유학생의 자녀교육 경험에 관한 연구)

  • Park, Misuk;Kalanova, Dilnoza
    • Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology
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    • v.6 no.10
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    • pp.121-129
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    • 2016
  • The purpose of this study is to explore the child education experiences of married female students who left their children in their home countries. This study consists of two questions. First, what is the meaning of the child in home country for married female students to their foreign student's life? Second, how they do the child education? For this study data was collected from March to May, 2016 through in-depth interviews with 6 married female students who left their children in their home countries to further their studies in Korea. Then, the data was analyzed their cases were analyzed. First, for married female students their children are always in the first place during their life as a foreign student in Korea. Second, their children play a great role in their foreign student life. Third, the child makes them to be exemplary student in their foreign student's life. In addition, children's education is entrusted to those who are raising them in their home country. However, when big decisions have to be made, it is done by the mother. Also, because they feel sorry towards their children they actively reflect the views of the children. Moreover, they often check everything about their children through SNS. Through this study, we expect to less school life's difficulty of foreign married students and it will be helpful material for them to graduate their foreign students' life. The purpose of this study is to explore the child education experiences of married female students who left their children in their home countries.

A Study on the Legal Issues on the Payment of Renewable Energy Subsidies (신재생에너지 보조금 지급에 관한 법적쟁점 고찰)

  • Park, Ji-Eun;Lee, Yang-Kee
    • Korea Trade Review
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    • v.43 no.4
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    • pp.111-130
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    • 2018
  • In December 2015, the Paris Agreement was adopted to cope with global warming caused by greenhouse gas emission and to prevent the average temperature of the Earth from rising. Renewable energy sources have become important to address environmental problems such as rising sea levels, depletion of forests and fine dust. In order to grow renewable energy, government support is needed. However, excessive government support for the renewable energy industry could pose problems that include undermining fair competition and raising costs. The WTO already has heard cases involving renewable energy subsidies. This article focuses on subsidies and countervailing tariffs as well as examines WTO disputes related to renewable subsidies, and also analyze legal issues that are problematic in granting subsidies for the development of new renewable energy industries. In WTO dispute involving renewable energy subsidies, legal issues are SCM Agreement article 2 Specificity, article 3 (b) import substitution subsidy and GATT article 20. This paper proposes improvement measures such as the reintroduction of article 8 Non-Actionable Subsidies or special provisions on energy subsidy. In addition, it is necessary to clarify the interpretation of Article 3 of the subsidy agreement. However, excessive government subsidies can lead to trade friction, so the WTO rules should be improved in line with the WTO goals of environmental protection, equity in free trade, and sustainable development.

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Effects of TDN/CP Ratio on Nutrient Intake, Digestibility, Ruminal Fermentation and Blood Characteristics of Replacement Dairy Heifers (TDN/CP 비율에 의한 영양소 공급이 젖소 육성우의 영양소 섭취량, 소화율, 반추위 발효 및 혈액특성에 미치는 영향)

  • Kim, Gyeom-Heon;Kim, Hyun-Jin;Hwang, Won-Uk;Kim, Soo-Ki
    • Journal of agriculture & life science
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    • v.50 no.5
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    • pp.153-162
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    • 2016
  • This study was conducted to investigate a proper management and nutrient supply for raising replacement heifers to improve lactating performance. In order to determine a proper TDN/CP ratio that would be suitable for domestic use, 13-month-old replacement heifers were fed in the ratios of 4.6:1(T1) and 4.3:1(T2), respectively, to examine the changes in nutritional intake, digestibility, characteristics of rumen fluid and blood compositions. While dry matter intake was same at 9.0kg/day, CP intake did not show any significant difference, though T2(1.45kg/day) was slightly higher than T1(1.34kg/day). In fiber intake and digestibility, two results showed no significant difference, though T1 was slightly higher than T2. The pH, NH3-N and VFA densities in rumen fluid examined at the fourth hour after feed intake did not show any significant difference either. Overall level of VFA was not influenced largely by the TDN/CP ratio, but the iso-butyrate and iso-valerate levels and the A/P ratio were significantly high in T1(p<0.05). In blood characteristics, the treatments showed no significant difference. In conclusion, the TDN/CP ratios of 4.3:1 and 4.6:1 did not significantly affect the characteristics of the ruminant stomach, but in comparison with digestibility of 13-month-old heifers, the ratio of 4.6:1 was more appropriate for increased intake of fiber and higher digestibility.

On correlation and causality in the analysis of big data (빅 데이터 분석에서 상관성과 인과성)

  • Kim, Joonsung
    • Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology
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    • v.8 no.8
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    • pp.845-852
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    • 2018
  • Mayer-Schönberger and Cukier(2013) explain why big data is important for our life, while showing many cases in which analysis of big data has great significance for our life and raising intriguing issues on the analysis of big data. The two authors claim that correlation is in many ways practically far more efficient and versatile in the analysis of big data than causality. Moreover, they claim that causality could be abandoned since analysis and prediction founded on correlation must prevail. I critically examine the two authors' accounts of causality and correlation. First, I criticize that corelation is sufficient for our analysis of data and our prediction founded on the analysis. I point out their misunderstanding of the distinction between correlation and causality. I show that spurious correlation misleads our decision while analyzing Simpson paradox. Second, I criticize not only that causality is more inefficient in the analysis of big data than correlation, but also that there is no mathematical theory for causality. I introduce the mathematical theories of causality founded on structural equation theory, and show that causality has great significance for the analysis of big data.