• Korean Journal of Agricultural and Forest Meteorology
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• v.23 no.4
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• pp.374-390
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• 2021

Growth and yield of field vegetable crops would be affected by climate conditions, which cause a relatively large fluctuation in crop production and consumer price over years. The yield prediction system for these crops would support decision-making on policies to manage supply and demands. The objectives of this study were to compile literatures related to onion and garlic and to perform data-mining analysis, which would shed lights on the development of crop models for these major field vegetable crops in Korea. The literatures on crop growth and yield were collected from the databases operated by Research Information Sharing Service, National Science & Technology Information Service and SCOPUS. The keywords were chosen to retrieve research outcomes related to crop growth and yield of onion and garlic. These literatures were analyzed using text mining approaches including word cloud and semantic networks. It was found that the number of publications was considerably less for the field vegetable crops compared with rice. Still, specific patterns between previous research outcomes were identified using the text mining methods. For example, climate change and remote sensing were major topics of interest for growth and yield of onion and garlic. The impact of temperature and irrigation on crop growth was also assessed in the previous studies. It was also found that yield of onion and garlic would be affected by both environment and crop management conditions including sowing time, variety, seed treatment method, irrigation interval, fertilization amount and fertilizer composition. For meteorological conditions, temperature, precipitation, solar radiation and humidity were found to be the major factors in the literatures. These indicate that crop models need to take into account both environmental and crop management practices for reliable prediction of crop yield.

• Journal of Navigation and Port Research
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• v.46 no.4
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• pp.375-384
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• 2022

The shipping industry is cyclically impacted by complex variables such as various economic indicators, social events, and supply and demand. The purpose of this study was to analyze the operating profit of 13 Korean liner companies over 30 years, including the financial crisis of the late 1990s, the global financial crisis of the late 2000s, and the COVID-19 global pandemic. This study was conducted to also identify factors that impacted the profit ratio of Korea's liner shipping companies according to economic conditions. It was divided into ocean-going and short-sea shipping, reflecting the characteristics of liner shipping companies, and was analyzed by hierarchical multiple regression analysis. The time series data are based on the Korean International Financial Reporting Standards (K-IFRS) and comprise seaborne trade volume, fleet evolution, and macroeconomic indicators. The outliers representing the economic downturn due to social events were separately analyzed. As a result of the analysis, the China Container Freight Index (CCFI) positively impacted ocean-going as well as short-sea liner shipping companies. However, the Korean container shipping volume only impacted ocean-going liners positively. Additionally, world and Korea's GDP, world seaborne trade volume, and fuel price are factored in the operating profit of short sea liner shipping. Also, the GDP growth rate of China, exchange rate, and interest rate did not significantly impact both groups. Notably, the operating profitability of Korea's liner shipping shows an exceptionally high rate during the recessions of 1998 and 2020. It is paradoxical, and not correlated with the classical economic indicators. Unlike other studies, this paper focused on the operating profit before financial expenses, considering the complexity as well as difficulty in forecasting the shipping cycle, and rendered conclusions using relatively long-term empirical analysis, including three economic shocks.

• The Korean Journal of Franchise Management
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• v.4 no.1
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• pp.1-24
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• 2013

The purpose of this work is to analyze the case that Yeongju Municipality Government of Gyeongbuk and Jung Donuts Co., Ltd., a franchise company, activated local economy through Farm's Franchise Commercialization (FCC) and to establish the concept of FCC. As a food service franchise company, Jung Donuts specializes in making and selling glutinous rice donuts. In cooperation with Commodity Dept. of Yeongju Municipality Government, the company cultivates raw materials under contract. Such farm's franchise business has the following advantages: First, it is meaningful in the point that it contributes to opening a new market of local agricultural products in a stable way. In short, by using most agricultural products of Yeongju as raw materials, the business serves as a stable market for farmers. Secondly, it is possible to set a reasonable price through stable supply of raw materials. It is to advantages of both producers and consumers. Thirdly, the business brings about the effect of employment rise. It can cause increases in employment of franchise head office and its agencies, and of the Commodity Dept.. Lastly, it produces the promotion effect of local special products. By expanding its agencies across the country, a franchise business can promote the items of raw materials in terms of marketing. The successful FCC needs to meet three requirements as follows. The first one is to establish systematic logistic system. Stable logistic system is required in order to directly distribute and deliver products to nationwide agencies by a producing place. The second one is constant R&D activity. Through the activity of R&D of raw materials and equipment, they should be used most effectively. The third one is to build mutual trust relationship. For long-term business achievements, it is required to establish mutual trust relationship in which relevant entities share their visions with each other and cooperate with each other.

• The Korean Journal of Food And Nutrition
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• v.30 no.3
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• pp.539-551
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• 2017

This study investigated the current status and needs for nutrition education to help reduce children's sugars intake at the Center for Children's Foodservice Management (CCFM, n=115), and Child Care Facilities (CCF, n=646) through an online survey conducted from October $5^{th}$ to $30^{th}$ 2015. A total of 14.8% of CCFM respondents and 31.9% of CCF respondents provided nutrition education on sugars intake to young children as a main topic (p<0.001). A higher percentage (CCFM 47.8%: CCF 42.4%) delivered nutrition education on sugars intake to young children as a sub-component (p<0.001). Over 90% of the CCFM and CCF participants agreed on the necessity of providing nutrition education on sugars intake to children. The most common reasons given for delivering nutrition education on children's sugar intake were "there are many more urgent nutrition education topics" for CCFM, and "insufficient nutrition education information and materials" for CCF. The percentage of nutrition education on children's sugar intake provided to the children's parents was low showing about 20% in the both groups. The percentage of CCFM participants providing nutrition, education on children's sugar intake to the teachers in CCF was also low, showing about 14.8%; however, 68.0% of the CCF participants wanted to received teacher's education on guiding children's sugar intake. Regarding ideas about a nutrition education program on children's sugar intake for young children, most respondents in both groups answered "sugar intake and dental cavities or obesity" for appropriate education contents, "story telling or puppet show" for appropriate education methods, and "dietitian from CCFM and class teacher together" for appropriate educator. For appropriate education time, there was a significantl difference between the CCFM responses (average 2.7 times) and the CCF responses (average 4 times). Based on the above results, we found that implementing nutrition education on children's sugar intake at the CCFM and CCF, was low; however, awareness of the need for nutrition education on children's sugar intake and the program development and supply was very high. Also, the opinions of CCFM and CCF participants about a nutrition education program on children's sugar intake for young children can provide foundation data to develop and implement the CCFM-based nutrition education program.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.36 no.3
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• pp.115-127
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• 2018

This study was attempted to find out the value of cultural assets through the clear diagnosis and prescription of the dead and weakness factors of the Population of Retusa Fringe Trees in Pyeongji-ri, Jinan(Natural Monument No. 214), The results are as follows. First, Since the designation of 13 natural monuments in 1968, since 1973, many years have passed since then. In particular, despite the removal of some of the buried soil during the maintenance process, such as retreating from the fence of the primary school after 2010, Second, The first and third surviving tree of the designated trees also have many branches that are dead, the leaves are dull, and the amount of leaves is small. vitality of tree is 'extremely bad', and the first branch has already been faded by a large number of branches, and the amount of leaves is considerably low this year, so that only two flowers are bloomed. The second is also in a 'bad'state, with small leaves, low leaf density, and deformed water. The largest number 1 in the world is added to the concern that the s coverd oil is assumed to be paddy soils. Third, It is found that the composition ratio of silt is high because it is known as '[silty loam(SiL)]'. In addition, the pH of the northern soil at pH 1 was 6.6, which was significantly different from that of the other soil. In addition, the organic matter content was higher than the appropriate range, which is considered to reflect the result of continuous application for protection management. Fourth, It is considered that the root cause of failure and growth of Jinan pyeongji-ri Population of Retusa Fringe Trees group is chronic syndrome of serious menstrual deterioration due to covered soil. This can also be attributed to the newly planted succession and to some of the deaths. Fifthly, It is urgent to gradually remove the subsoil part, which is estimated to be the cause of the initial damage. Above all, it is almost impossible to remove the coverd soil after grasping the details of the soil, such as clayey soil, which is buried in the rootstock. After removal of the coverd soil, a pestle is installed to improve the respiration of the roots and the ground with Masato. And the dead 4th dead wood and the 5th and 6th dead wood are the best, and the lower layer vegetation is mown. The viable neck should be removed from the upper surface, and the bark defect should undergo surgery and induce the development of blindness by vestibule below the growth point. Sixth, The underground roots should be identified to prepare a method to improve the decompression of the root and the respiration of the soil. It is induced by the shortening of rotten roots by tracing the first half of the rootstock to induce the generation of new roots. Seventh, We try mulching to suppress weed occurrence, trampling pressure, and soil moisturizing effect. In addition, consideration should be given to the fertilization of the foliar fertilizer, the injection of the nutrients, and the soil management of the inorganic fertilizer for the continuous nutrition supply. Future monitoring and forecasting plans should be developed to check for changes continuously.

• Asia Marketing Journal
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• v.14 no.2
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• pp.127-156
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• 2012

A lot of interest in the baby-boomer generation, those who were born after World War II, has emerged since their retirement has been accelerated. The retirement of baby-boomers has caused many health, public welfare, social policy and family relationship problems. However, their increased purchasing power has made them more attractive consumers than any other generation, and they have become a fascinating niche market in the depressed economy. This research selected middle-class women of the baby-boomer generation who have had powerful effects on society and have emerged as an attractive niche market, and attempted to understand their lives intensively. Based on research activities, the purpose of this research is to identify baby-boomer generation middle-aged women's life values. Qualitative research methodology was used to achieve research objectives, and this research aimed to suggest marketing implications to connected industries based on the research results. The research objectives are as follows. 1. understanding the lives of baby-boomer middle-class women who have powerful effects on socio-economic phenomena 2. identifying the life values of baby-boomer middle-class women 3. generating marketing implications based on an understanding of baby-boomer middle-class women's lives and life values This research conducted FGIs(focus group interviews), one of the qualitative research methodologies, to figure out baby-boomer middle-class women's life values intensively and selected 10 women living in Seoul for data collection. The qualitative data of collected FGIs were analyzed with spiral data analysis methodology proposed by Creswell(2007). The most effective factors to influence these middle-class women's lives powerfully were 'time' and 'independence'. Their consciousness of the importance of using time affects their life pattern generally, and their independence also impacts greatly on the way they exploit time and on their diverse relationships. They maximized their self-realization and showed long-term partnership with their surrounding circumstances because of those effective factors. Baby-boomer middle-class women's self-realization was divided into two areas. One was their outside activities and another was perfect management of their physical appearance and home interior. Like the results of this research, their need for social entrance will be reinforced more strongly since their internal and external activities aim for the achievement of self-realization. In addition, this research suggests that baby-boomer middle-class women's activities are connected with their management of their physical appearance and home interior decorations, and that such management is caused not only by a simple interest in fashion and beauty but also a profound desire for self-realization. On account of their consciousness, which is different from other generations, Korean baby-boomer middle-class women are able to maintain positive partnerships with their surrounding circumstances; however, they also show ambivalent emotions to retain effective partnerships. To overcome those stressful situations, they make greater efforts to keep up their health and youth, and also engage in diverse activities to maintain their mental health. Finally, they generate positive attitudes toward their economic situation and extra time to develop self-realization and pursue happy, youthful and healthy lives. Based on those results, this study suggests the following implications. First, industries targeting the baby-boomer generation should develop innovative products and services which help the baby-boomer generation maximize their efficiency of time since time is one of the most important factors powerfully impacting the baby-boomer generation. They will engage in various activities to fill up their extra time and consume helpful products and services. Second, such industries should supply the baby-boomer generation with opportunities which propose new ways of self-realization since this generation shows a great desire for self-realization because of their self-efficacy. With customized strategies of satisfying their needs, the baby-boomer generation would discover opportunities to utilize their abilities, relationships and aesthetic senses, and industries would develop a niche market. Third, market segmentations which target the baby-boomer generation's desire to maintain their physical appearance and home interior should be executed since such activities are the main strategies to develop this generation's self-realization. The baby-boomer generation's desire to study those areas would be expanded, and those education systems should produce innovative products and services targeting the baby-boomer generation. This implication also offers to government officials new policies related with the baby-boomer generation. This exploratory study utilized qualitative research methodology to understand baby-boomer middle-class women's lives, and proposed propositions and limitations for further researches. As for the limitations, first, it is hard to generalize the research results so that they may apply to all areas and economic classes of the baby-boomer generation since this research selected only 10 women living in Seoul for the data collection process. To overcome this limitation, extended data collections of subjects from diverse regions and economic classes should be designed. Second, quantitative research should be conducted to supplement the findings with validities. Third, this research focused on only general ideas of the baby-boomer generation's lives since the range of this study was focused on their overall lives. Therefore, intensive research related to specific areas of their lives should be conducted.

• Journal of Distribution Research
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• v.17 no.4
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• pp.55-80
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• 2012

I. Introduction Developing the relationships between companies is very important issue to ensure a competitive advantage in today's business environment (Bleeke & Ernst 1991; Mohr & Spekman 1994; Powell 1990). Partnerships between companies are based on having same goals, pursuing mutual understanding, and having a professional level of interdependence. By having such a partnerships and cooperative efforts between companies, they will achieve efficiency and effectiveness of their business (Mohr and Spekman, 1994). However, it is difficult to expect these ideal results only in the B2B corporate transaction. According to agency theory which is the well-accepted theory in various fields of business strategy, organization, and marketing, the two independent companies have fundamentally different corporate purposes. Also there is a higher chance of developing opportunism and conflict due to natures of human(organization), such as self-interest, bounded rationality, risk aversion, and environment factor as imbalance of information (Eisenhardt 1989). That is, especially partnerships between principal(or buyer) and agent(or supplier) of companies within supply chain, the business contract itself will not provide competitive advantage. But managing partnership between companies is the key to success. Therefore, managing partnership between manufacturer and supplier, and finding causes of conflict are essential to improve B2B performance. In conclusion, based on prior researches and Agency theory, this study will clarify how business hazards cause conflicts on supply chain and then identify how developed conflicts have been managed by two control mechanisms. II. Research model III. Method In order to validate our research model, this study gathered questionnaires from small and medium sized enterprises(SMEs). In Korea, SMEs mean the firms whose employee is under 300 and capital is under 8 billion won(about 7.2 million dollar). We asked the manufacturer's perception about the relationship with the biggest supplier, and our key informants are denied to a person responsible for buying(ex)CEO, executives, managers of purchasing department, and so on). In detail, we contact by telephone to our initial sample(about 1,200 firms) and introduce our research motivation and send our questionnaires by e-mail, mail, and direct survey. Finally we received 361 data and eliminate 32 inappropriate questionnaires. We use 329 manufactures' data on analysis. The purpose of this study is to identify the anticipant role of business hazard (environmental dynamism, asset specificity) and investigate the moderating effect of control mechanism(formal control, social control) on conflict-performance relationship. To find out moderating effect of control methods, we need to compare the regression weight between low versus. high group(about level of exercised control methods). Therefore we choose the structural equation modeling method that is proper to do multi-group analysis. The data analysis is performed by AMOS 17.0 software, and model fits are good statically (CMIN/DF=1.982, p<.000, CFI=.936, IFI=.937, RMSEA=.056). IV. Result V. Discussion Results show that the higher environmental dynamism and asset specificity(on particular supplier) buyer(manufacturer) has, the more B2B conflict exists. And this conflict affect relationship quality and financial outcomes negatively. In addition, social control and formal control could weaken the negative effect of conflict on relationship quality significantly. However, unlikely to assure conflict resolution effect of control mechanisms on relationship quality, financial outcomes are changed by neither social control nor formal control. We could explain this results with the characteristics of our sample, SMEs(Small and Medium sized Enterprises). Financial outcomes of these SMEs(manufacturer or principal) are affected by their customer(usually major company) more easily than their supplier(or agent). And, in recent few years, most of companies have suffered from financial problems because of global economic recession. It means that it is hard to evaluate the contribution of supplier(agent). Therefore we also support the suggestion of Gladstein(1984), Poppo & Zenger(2002) that relational performance variable can capture the focal outcomes of relationship(exchange) better than financial performance variable. This study has some implications that it tests the sources of conflict and investigates the effect of resolution methods of B2B conflict empirically. And, especially, it finds out the significant moderating effect of formal control which past B2B management studies have ignored in Korea.

• Journal of Intelligence and Information Systems
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• v.20 no.3
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• pp.151-171
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• 2014

Firms today have sought management effectiveness and efficiency utilizing information technologies (IT). Numerous firms are outsourcing specific information systems functions to cope with their short of information resources or IT experts, or to reduce their capital cost. Recently, Software-as-a-Service (SaaS) as a new type of information system has become one of the powerful outsourcing alternatives. SaaS is software deployed as a hosted and accessed over the internet. It is regarded as the idea of on-demand, pay-per-use, and utility computing and is now being applied to support the core competencies of clients in areas ranging from the individual productivity area to the vertical industry and e-commerce area. In this study, therefore, we seek to quantify the value that SaaS has on business performance by examining the relationships among firm strategies, SaaS technology maturity, and business performance of SaaS providers. We begin by drawing from prior literature on SaaS, technology maturity and firm strategy. SaaS technology maturity is classified into three different phases such as application service providing (ASP), Web-native application, and Web-service application. Firm strategies are manipulated by the low-cost strategy and differentiation strategy. Finally, we considered customer acquisition as a business performance. In this sense, specific objectives of this study are as follows. First, we examine the relationships between customer acquisition performance and both low-cost strategy and differentiation strategy of SaaS providers. Secondly, we investigate the mediating and moderating effects of SaaS technology maturity on those relationships. For this purpose, study collects data from the SaaS providers, and their line of applications registered in the database in CNK (Commerce net Korea) in Korea using a questionnaire method by the professional research institution. The unit of analysis in this study is the SBUs (strategic business unit) in the software provider. A total of 199 SBUs is used for analyzing and testing our hypotheses. With regards to the measurement of firm strategy, we take three measurement items for differentiation strategy such as the application uniqueness (referring an application aims to differentiate within just one or a small number of target industry), supply channel diversification (regarding whether SaaS vendor had diversified supply chain) as well as the number of specialized expertise and take two items for low cost strategy like subscription fee and initial set-up fee. We employ a hierarchical regression analysis technique for testing moderation effects of SaaS technology maturity and follow the Baron and Kenny's procedure for determining if firm strategies affect customer acquisition through technology maturity. Empirical results revealed that, firstly, when differentiation strategy is applied to attain business performance like customer acquisition, the effects of the strategy is moderated by the technology maturity level of SaaS providers. In other words, securing higher level of SaaS technology maturity is essential for higher business performance. For instance, given that firms implement application uniqueness or a distribution channel diversification as a differentiation strategy, they can acquire more customers when their level of SaaS technology maturity is higher rather than lower. Secondly, results indicate that pursuing differentiation strategy or low cost strategy effectively works for SaaS providers' obtaining customer, which means that continuously differentiating their service from others or making their service fee (subscription fee or initial set-up fee) lower are helpful for their business success in terms of acquiring their customers. Lastly, results show that the level of SaaS technology maturity mediates the relationships between low cost strategy and customer acquisition. That is, based on our research design, customers usually perceive the real value of the low subscription fee or initial set-up fee only through the SaaS service provide by vender and, in turn, this will affect their decision making whether subscribe or not.

• Journal of Korean Society of Forest Science
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• v.45 no.1
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• pp.26-36
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• 1979

Through several trials that has done for making the fertilizing-counter plan on the soil improving species, some results have been got as follows; 1. In the non-phosphorus dressing plots soil improving species have very poor survial ratio and show us to be died step by step. It may be resons that root can not make the nodule in case of non-phosphorus dressing and so tree could not absorb the nitrogen nutrient fixed by the nodule. And root competition with the weedy speces for utilizing the nutrient and oxygen in the soil could be reasons when planting in the heavy weedy rooting site. 2. Triple super phosphate, Fused Mg Phosphate and Fused super phosphate have showed the remarkable effects on the growth of soil improving species within 3rd year after planting. But Koreaan tablet fertilizer(9-12-4) for forest purpose have reacted considerably lower effect in comparision with the above powder and grain type phosphorous fertilizer. 3. In case of tablet type fertilizer tree root will have very little phosphorus absorbing surface because phosphorus can be utilized only from the tablet surface and root can not penetrate into the tablet. This my be reson to show the poor dressing reaction of tablet fertilizer but tablet fertilizer has a possibility to be utilized during long years as a sympton in photo 6. So tablet fertilizer can have a recommendation to dress much fertilizer at p]anting year and then tree root can get much more chance for absorbing the phosphorus that could keep the high survival and for utilizing it during many years without after dressing. 4. The granurar and powder type phosphate can develop the dense root mat like photo 8 because of giving the large surface for absorbing the phosphorus and weedy root can approch to the nodule for taking the nitrogen element. So this type seems to present better effect than tablet type to control the soil movement, stem weight as 200g per meter(l meter long${\times}$0.1m width). When added the lime any effect could not be found and rather give the negative effect. So Lespedeza seed sowing and phosphorus dressing system seems us to be very reasonable method for covering the raw material of basket making, fodder and fuel wood supply. 7. Fused Mg phosphate and Fused super phosphate are good fertilizer to the soil improving species and dressing more than 30g per seedling can be recommendable amount. 5. In the unproductive and dry soil with phosphorus fertilizer Robinia pseudoacacia and Alnus firnui can grow more than 2.3m in height at 3rd year and Alnus inokumae have the rapid height growth that is more than 1.8m at 2nd year. Depending on the growth situation like the above example minirotated management has possibilities and rapid covering of erosed land can be done with the soil improving species and phosphorus fertilizer. 6. In the Lespedeza sowing plot with 40g Fused Mg phosphate dressing per meter in the eroded and unproductive forest soil Lespedeza have completely covered this poor land and produced the green.

• Journal of Intelligence and Information Systems
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• v.24 no.2
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• pp.195-220
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• 2018

In this study, we conducted an empirical analysis of the factors that affect the change of Bitcoin Closing Price. Previous studies have focused on the security of the block chain system, the economic ripple effects caused by the cryptocurrency, legal implications and the acceptance to consumer about cryptocurrency. In various area, cryptocurrency was studied and many researcher and people including government, regardless of country, try to utilize cryptocurrency and applicate to its technology. Despite of rapid and dramatic change of cryptocurrencies' price and growth of its effects, empirical study of the factors affecting the price change of cryptocurrency was lack. There were only a few limited studies, business reports and short working paper. Therefore, it is necessary to determine what factors effect on the change of closing Bitcoin price. For analysis, hypotheses were constructed from three dimensions of consumer, industry, and macroeconomics for analysis, and time series data were collected for variables of each dimension. Consumer variables consist of search traffic of Bitcoin, search traffic of bitcoin ban, search traffic of ransomware and search traffic of war. Industry variables were composed GPU vendors' stock price and memory vendors' stock price. Macro-economy variables were contemplated such as U.S. dollar index futures, FOMC policy interest rates, WTI crude oil price. Using above variables, we did times series regression analysis to find relationship between those variables and change of Bitcoin Closing Price. Before the regression analysis to confirm the relationship between change of Bitcoin Closing Price and the other variables, we performed the Unit-root test to verifying the stationary of time series data to avoid spurious regression. Then, using a stationary data, we did the regression analysis. As a result of the analysis, we found that the change of Bitcoin Closing Price has negative effects with search traffic of 'Bitcoin Ban' and US dollar index futures, while change of GPU vendors' stock price and change of WTI crude oil price showed positive effects. In case of 'Bitcoin Ban', it is directly determining the maintenance or abolition of Bitcoin trade, that's why consumer reacted sensitively and effected on change of Bitcoin Closing Price. GPU is raw material of Bitcoin mining. Generally, increasing of companies' stock price means the growth of the sales of those companies' products and services. GPU's demands increases are indirectly reflected to the GPU vendors' stock price. Making an interpretation, a rise in prices of GPU has put a crimp on the mining of Bitcoin. Consequently, GPU vendors' stock price effects on change of Bitcoin Closing Price. And we confirmed U.S. dollar index futures moved in the opposite direction with change of Bitcoin Closing Price. It moved like Gold. Gold was considered as a safe asset to consumers and it means consumer think that Bitcoin is a safe asset. On the other hand, WTI oil price went Bitcoin Closing Price's way. It implies that Bitcoin are regarded to investment asset like raw materials market's product. The variables that were not significant in the analysis were search traffic of bitcoin, search traffic of ransomware, search traffic of war, memory vendor's stock price, FOMC policy interest rates. In search traffic of bitcoin, we judged that interest in Bitcoin did not lead to purchase of Bitcoin. It means search traffic of Bitcoin didn't reflect all of Bitcoin's demand. So, it implies there are some factors that regulate and mediate the Bitcoin purchase. In search traffic of ransomware, it is hard to say concern of ransomware determined the whole Bitcoin demand. Because only a few people damaged by ransomware and the percentage of hackers requiring Bitcoins was low. Also, its information security problem is events not continuous issues. Search traffic of war was not significant. Like stock market, generally it has negative in relation to war, but exceptional case like Gulf war, it moves stakeholders' profits and environment. We think that this is the same case. In memory vendor stock price, this is because memory vendors' flagship products were not VRAM which is essential for Bitcoin supply. In FOMC policy interest rates, when the interest rate is low, the surplus capital is invested in securities such as stocks. But Bitcoin' price fluctuation was large so it is not recognized as an attractive commodity to the consumers. In addition, unlike the stock market, Bitcoin doesn't have any safety policy such as Circuit breakers and Sidecar. Through this study, we verified what factors effect on change of Bitcoin Closing Price, and interpreted why such change happened. In addition, establishing the characteristics of Bitcoin as a safe asset and investment asset, we provide a guide how consumer, financial institution and government organization approach to the cryptocurrency. Moreover, corroborating the factors affecting change of Bitcoin Closing Price, researcher will get some clue and qualification which factors have to be considered in hereafter cryptocurrency study.