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The Correlations between Renminbi Fluctuations and Financial Results of Venture Companies in the Floating Exchange Rate (변동환율제도하의 위안화 환율변동과 벤처기업의 재무성과 간 상관관계 연구)

  • Sun, Zhong Yuan;Chang, Seog-Ju;Na, Seung-Hwa
    • 한국벤처창업학회:학술대회논문집
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    • 2010.08a
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    • pp.139-160
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    • 2010
  • On July 21st in 2005, People's Bank of China (PBOC) turned the currency peg against the U.S. dollar into managed currency system based on a basket of unnamed currencies under China's exchanged rate regime. This change means that China's enterprises are not free from currency fluctuations. The purpose of this study is to analyze the relations between Renminbi fluctuations in the floating exchange rate and financial results of venture companies. The process and outcomes of this study are as follows, First, in order to measure the financial results of venture companies, I choose venture companies in Shandong Province listed on the Shanghai Stock Exchange (SSE) at random and several quarter financial sheets according to safety ratios, profitability ratios, growth ratios, activity ratios. Second, I arrange the daily Renminbi exchange rate data announced from July 21st, 2005 to December 31st, 2008 by PBOC into the quarterly data. Third, in order to confirm the relations between Renminbi fluctuations and financial results of venture companies, I carry out Pearson's correlation analysis. As a result, the revaluation of the Chinese Renminbi has weakly negative effects on debt ratio, total assets turnover ratio and equity turnover ratio in statistics. But the revaluation of the Chinese Renminbi is not related to other financial index in statistics. The result of this study is that the revaluation of the Chinese Renminbi has little influence on the export and import of Chinese venture companies and certifies the fact that Chinese venture companies have much foreign currency assets. In addition to avoid the currency exposure risk, this study shows the effective method about currency exposure risk which adjusts proportion of Renminbi to foreign currency.

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Tie Spatial Structure of Ch'ang-ts'ai-ts'un Village A Case Study on a Rural Village of Korean Immigrants in Yen-pien Area of China (중국(中國) 연변지구(延邊地區) 조선족(朝鮮族)마을의 구성(構成) 룡정시 지신향 장재촌을 대상으로)

  • Lee, Kyu Sung
    • Journal of architectural history
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    • v.3 no.1
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    • pp.83-99
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    • 1994
  • Ch'ang-Ts'al-Ts'un is a rural Village near Lung-jing City in Yen-pien Korean Autonomous Province of China. It was formed about 100 years ago by Korean Immigrants and has been developed maintaing the characteristics of traditional Korean architecture. Therefore investigating the spatial structure of this village is a meanigful work to confirm and explore one branch of Korean architecture. This study aims at analyzing the spatial structure of the village using direct data collected from the field work and indirect data from books and maps. The field work consists of on-the-site survey of the village layout, interviews of residents, observation notes and photography. Ch'ang-Ts'ai-Ts'un is located 360-370 m high above the sea level and at the side of a long valley. A river flows in the middle of the valley and relatively flat arable land exists at the both sides of the river. The location of the village related to the surrounding river and mountains suggests that the site of the village was chosen according to Feng-Shui, Chinese and Korean traditional architectural theory. The main direction of the house layouts is South-western. The village has been growing gradually until today. Therefore it is meaningful to make the village layout before Liberation(1946 A.D.) because the characteristics of Korean architecture prevailed more in that period. The area of the previous village is limited to the west side of the creek. New houses were later added to the east of the creek, forming a 'New Village'. Previously the village was composed of 3 small villages: Up, Middle and Down. Also the main access roads connecting the village with the neighboring villages were penetrating the village transversely. Presently the main access road comes to the village longitudinally from the main highway located in front of the village. The retrospective layout shows the existence of well-formed Territory, Places and Axes, thus suggesting a coherent Micro-cosmos. The boundary of imaginery territory perceived by present residents could be defined by linking conspicous outside places sorrounding the village such as Five-mountains, Front-mountain, Shin-dong village, Standing-rock, Rear-mountain and Myong-dong village. Inside the territory there are also the important places such as Bus-stop, Memorial tower of patriots, Road-maitenance building and the village itself. And inside it 5 transverse and 1 longitudinal axes exist in the form of river, roads and mountains. The perceived spatial structure of the village formed by Places, Axes and Territory is geometrical and well-balanced and suggests this village is fit for human settlement. The administrative area of the village is about 738 ha, 27 % of which is cultivated land and the rest is mountain area. Initially the village and surrounndings were covered with natural forest But the trees have been gradually cut down for building and warning houses, resulting in the present barren and artificial landscape with bare mountains and cultivated land. At present the area of the village occupied by houses is wedge-shaped, 600 m wide and 220 m deep in its maximum. The total area of the village is $122,175m^{2}$. The area and the rate of each sub-division arc as follow. 116 house-lots $91,465m^{2}$ (74.9 %) Land for public buildings and shops $2,980m^{2}$ (2.4 %) Roads $17,106m^{2}$ (14.0 %) Creek $1,356m^{2}$ (1.1 %) Vacant spaces and others $9,268m^{2}$ (7.6 %) TOTAL $122,175m^{2}$ (100.0 %) Each lot is fenced around with vertical wooden pannels 1.5-1.8 m high and each house is located to the backside of the lot. The open space of a lot is sub-divided into three areas using the same wooden fence: Front yard, Back yard and Access area. Front and back yards are generally used for crop-cultivation, the custom of which is rare in Korea. The number of lots is 116 and the average size of area is $694.7m^{2}$. Outdoor spaces in the village such as roads, vacant spaces, front yard of the cultural hall, front yard of shops and spacse around the creek are good 'behavioral settings' frequently used by residents for play, chatting, drinking and movie-watching. The road system of the village is net-shaped, having T-junctions in intersections. The road could be graded to 4 categories according to their functions: Access roads, Inner trunk roads, Connecting roads and Culs-de-sac. The total length of the road inside the village is 3,709 m and the average width is 4.6 m. The main direction of the road in the village is NNE-SSE and ESE-WNW, crossing with right angles. Conclusively, the spatial structure of Ch'ang-Ts'ai-Ts'un village consists of various components in different dimensions and these components form a coherent structure in each dimension. Therefore the village has a proper spatial structure meaningful and appropriate for human living.

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Rapid Detection of Rifampicin Resistant M. tuberculosis by PCR-SSCP of rpoB Gene in Clinical Specimens (RpoB 유전자 PCR-SSCP법에 의한 임상검체내 Rifampicin 내성 결핵균의 신속진단)

  • Shim, Tae-Sun;Kim, Young-Whan;Lim, Chae-Man;Lee, Sang-Do;Koh, Youn-Suck;Kim, Woo-Sung;Kim, Dong-Soon;Kim, Won-Dong
    • Tuberculosis and Respiratory Diseases
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    • v.44 no.6
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    • pp.1245-1255
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    • 1997
  • Background : Rifampicin(RFP) is a key component of the antituberculous short-course chemotherapy and the RFP resistance is a marker of multi-drug resistant(MDR) tuberculosis. RPoB gene encodes the $\beta$-subunit of RNA polymerase of M. tuberculosis which is the target of RFP. And rpoB gene mutations are the cause of RFP resistance of M. tuberculosis. Although several reports showed that PCR-SSCP would be a rapid diagnostic method for identifying the RFP resistance, there were few reports Performed using direct, clinical specimens. So we Performed PCR-SSCP analysis of rpoB gene of M. tuberculosis in direct, clinical specimens. Methods : 75 clinical specimens were collected from patients at Asan Medical Center from June to August 1996. After PCR of IS 6110 fragments, 43 both AFB smear-positive and IS6110 fragment PCR-positive specimens were evaluated. The RFP susceptibility test was referred to the referral laboratory of the Korean Tuberculosis Institute. DNA was extracted by bead beater method. And heminested PCR was done using 0.1ul(1uCi) [$\alpha-^{32}P$]-dCTP. SSCP analysis was done using non-denaturating MDE gel electrophoresis. Results : The results of PCR of IS6110 fragments of M. tuberculosis were positive in 55(73%) cases of 75 AFB smear-positive clinical specimens. Of the 55 specimens, RFP susceptibility was confirmed in only 43 specimens. Of the 43 AFB smear-positive and IS6110 fragment-positive specimens, 29 were RFP susceptible and 14 were RFP resistant. All the RFP susceptible 29 strains showed the same mobility compared with that of RFP sensitive H37Rv in SSCP analysis of ropB gene. And all the other RFP resistant 13 strains showed the different mobility. In other words they showed 100% identical results between PCR-SSCP analysis and traditional susceptibility test. Conclusion : The PCR-sseP analysis of rpoB gene in direct clinical specimens could be used as a rapid diagnostic method for detecting RFP resistant M. tuberculosis.

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Physical Geography of Munkyung (문경의 자연지리)

  • Bak, Byeong-Su;Son, Myoung-Won
    • Journal of the Korean association of regional geographers
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    • v.4 no.2
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    • pp.15-30
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    • 1998
  • Physical geography is the discipline which deals with the relationship between man and natural environment. Therefore, it should be studied as the organized unity. In this paper I recognize the drainage basin as a framework outlining physical geography, describe the difference of inhabitant's life style due to the difference of natural environment in the drainage basin, and consider the meaning of drainage basin as a unit of life(and unit of regional geography). Munkyung is divided into three regions(intermontane basin region, middle mountainous region, marginal hilly region of the great basin) owing to the topographic characteristics. Subdivision in these regions is related closely to drainage network distribution, specially in intermontane basin region. And small regions have developed with the confluence point of $3{\sim}4$ order streams as the central figure. Intermontane basin region is the valley floor of Sinbuk-Soya-Kauun-Nongam stream located in the limestone region which is exposed according to Munkyung fault at its northern part. Small streams are affected strongly by the influence of the NNE-SSE or WNW-ESE tectolineament. Thus Kaeripryungro(鷄立嶺路), Saejaegil(새재길), Ewharyungro(伊火嶺路) and so on are constructed through the tectolineament. In the valley floors of small streams which flow into the intermontane basin, there are large floodplains. Floodplain in Sinbuk, Joryung, and Yangsan stream is used to paddy field or orchard, and in Nongam stream is used to paddy field or vegetable field. Hills are distributed largely in the periphery of intermontane basin. Limestone hills in Kauun and Masung basin are not continuous to the present low and flat floodplain, and most of those are used to forest land and field. On the other side. granite hills in Koyori are continuous to be used to the present floodplain, and they are used to residential area and field. In the middle mountainous region are there hilly mountains constructed in the geology of Palaeozoic Pyeongan System in northern area and Chosun System's Limestone Series in southern area, and banded gneiss and schist among Sobaeksan Gneiss Complex. In Palaeozoic Pyeongan System region are there relatively rugged mountains and ingrown meanders developed along tectolineaments. Chosun System's Limestone Series region builds up a geomorphic surface, develops various karst landforms. Mountainous area is used to field. On the other hand, especially in case of Hogye, valley bottom is wide, long, and discontinuous to slope, is used to paddy field dominantly. And schist region in Youngnam Block of Pre-Cambrian is rugged mountainous. Marginal hilly region of the great basin is hilly zone located in the margin of erosional basin(Bonghwa-Youngju-Yechon-Hamchang-Sangju). This region is lower geomorphic surface which is consisted of hills of $50{\sim}100$m height. Hills are used to field or orchard, and dissected gentle depression is used to paddy field.

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Aeromagnetic Interpretation of the Southern and Western Offshore Korea (한국 서남근해에 대한 항공자력탐사 해석)

  • Baag Czango;Baag Chang-Eob
    • The Korean Journal of Petroleum Geology
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    • v.2 no.2 s.3
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    • pp.51-57
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    • 1994
  • Analysis of the aeromagnetic data aquired by US Navy in the year 1969 permits us to predict a new sedimentary basin, Heugsan Basin, south of the known Gunsan Basin in Block Ⅱ. The basin appears to consist of three sub-basins trending NNW-SSE. The results of our analysis provide not only an independent assessment of the Gunsan Basin, but also new important information on the tectonic origin and mechanism for the two basins as well as for the entire region. The basin forming tectonic style is interpreted as rhombochasm associated with double overstepped left-lateral wrench faults. From the magnetic evidence, a few NE-SW trending major onshore faults are extended to the study area. We also interpreted the nature of the faults to be left-lateral wrenches. This new gross structural style is consistent with the results of recent Yeongdong Basin analysis by Lee. The senses of fault movement are also supported by the paleomagnetic evidence that the Philippine Sea had experienced an 80-degree clockwise rotation since the Eocene. Based on a 2 $\frac{1}{2}$ model study the probable maximum thickness of the sediments in the Gunsan Basin is approximately 7500 meters. We believe that the new Heugsan Basin was left unidentified because a high velocity layer may be overlying the basin. Because the overall structural configuration of the Heugsan Basin appears to be favorable for hydrocarbon accumulation, a detailed airborne magnetic survey is recommended in the area in order to verify the magnetic expression of this thick basin. A detailed subsequent marine gravity survey is also recommended in order to delineate the sedimentary section and to acquire supplemental data to the magnetic method only if an overlying high velocity layer is confirmed. Otherwise a high energy source seismic survey may be more effective.

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Geological Structures of the Taean Formation in the Gomseom Area, Southwestern Gyeonggi Massif (경기육괴 남서부 곰섬 일대 태안층의 지질구조)

  • Kim, Inho;Kim, Ae-Ji;Woo, Hayoung;Park, Seung-Ik
    • Economic and Environmental Geology
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    • v.52 no.2
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    • pp.159-168
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    • 2019
  • The western Gyeonggi Massif, where records evidence of Phanerozoic subduction/collision tectonics, is an important area to understand the crustal evolutionary history of the Korean Peninsula. This study presents geometric and kinematic characteristics of the geological structures of the Taean Formation in the Gomseom area, southwestern Gyeonggi Massif. We interpreted the geometric relationships between structural elements, and conducted stereographic and down-plunge projections for structural domains. As a result, at least three different deformational events ($D_1$, $D_2$ and $D_3$) are recognized in the study area. In the first deformational event ($D_1$), regional foliations being well defined by the preferred orientation of muscovite and biotite were formed. In the second deformational event ($D_2$), NNE-trending low-angle contractional faults and related crenulation lineations/cleavages were formed. The crenulation lineations shallowly plunge toward SSW~SSE or NNW~NNE. In the third deformational event ($D_3$), SE-plunging folds and NE-trending high-angle faults were formed as 'fault-related fold' and 'fold-accommodation fault', indicating that the $D_3$ folds and faults are genetically linked to each other. This contribution provides important insights into the structural evolution of the Taean Formation along western Gyeonggi Massif, where had evolved as subduction/collisional orogenic belts in the East Asia.

Characteristics and Distribution Pattern of Carbonate Rock Resources in Kangwon Area: The Gabsan Formation around the Mt. Gachang Area, Chungbuk, Korea (강원 지역에 분포하는 석회석 자원의 특성과 부존환경: 충북 가창산 지역의 갑산층을 중심으로)

  • Park, Soo-In;Lee, Hee-Kwon;Lee, Sang-Hun
    • Journal of the Korean earth science society
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    • v.21 no.4
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    • pp.437-448
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    • 2000
  • The Middle Carboniferous Gabsan Formation is distributed in the Cheongrim area of southern Yeongwol and the Mt. Gachang area of Chungbuk Province. This study was carried out to investigate the lithological characters and geochemical composition of the limestones and to find out controlling structures of the limestones of the formation. The limestones of the Gabsan Formation are characterized by the light gray to light brown in color and fine and dense textures. The limestone grains are composed of crinoid fragments, small foraminfers, fusulinids, gastropods, ostracods, etc. Due to the recrystallization, some limestones consist of fine crystalline calcites. The chemical analysis of limestones of the formation was conducted to find out the contents of CaO, MgO, Al$_2$O$_3$, Fe$_2$O$_3$ and SiO$_2$. The content of CaO ranges from 49.78-60.63% and the content of MgO ranges from 0.74 to 4.63% The contents of Al$_2$O$_3$ and Fe$_2$O$_3$ are 0.02-0.55% and 0.02${\sim}$0.84% , respectively. The content of SiO$_2$ varies from 1.55 to 4.80%, but some samples contain more than 6.0%. The limestones of the formation can be grouped into two according to the CaO content: One is a group of which CaO content ranges from 49.78 to 56.26% and the other is a group of which CaO content varies from 59.36 to 60.38%. In the first group, the contents of Al$_2$O$_3$, Fe$_2$O$_3$ and SiO$_2$ range very irregularly according to the CaO content. In the second group, the values of MgO, Al$_2$O$_3$, Fe$_2$O$_3$ and SiO$_2$ are nearly same. Detailed structural analysis of mesoscopic structures and microstructures indicates the five phase of deformation in the study area. The first phase of deformation(D$_1$) is characterized by regional scale isoclinal folds, and bedding parallel S$_1$ axial plane foliation which is locally developed in the mudstone and sandstone. Based on the observations of microstructures, S$_1$ foliations appear to be developed by grain preferred orientation accompanying pressure-solution. During second phase of deformation, outcrop scale E-W trending folds with associated foliations and lineations are developed. Microstructural observations indicate that crenulation foliations were formed by pressure-solution, grain boundary sliding and grain rotation. NNW and SSE trending outcrop scale folds, axial plane foliations, crenulation foliations, crenulation lineations, intersection lineations are developed during the third phase of deformation. On the microscale F$_3$ fold, axial plane foliations which are formed by pressure solution are well developed. Fourth phase of deformation is characterized by map scale NNW trending folds. The pre-existing planar and linear structures are reoriented by F$_4$ folds. Fifth phase of deformation developed joints and faults. The distribution pattern of the limestones is mostly controlled by F$_1$ and F$_4$ folds.

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