• Knowledge Management Research
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• v.21 no.3
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• pp.45-65
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• 2020

It is desirable to invest in wine that increases its value, but wine investment itself is unfamiliar in Korea. Also, the process itself is unreasonable, and information is often forged, because pricing in the wine market is done by a small number of people. With the right solution, however, the wine market can be a desirable investment destination in that the longer one invests, the higher one can expect. Also, it is expected that the domestic wine consumption market will expand through the steady increase in domestic wine imports. This study presents the consortium block chain framework for revitalizing the wine market and enhancing transparency as the "right solution" of the nation's wine investment market. Blockchain governance can compensate for the shortcomings of the wine market because it guarantees desirable decision-making rights and accountability. Because the data stored in the block chain can be checked by consumers, it reduces the likelihood of counterfeit wine appearing and complements the process of unreasonably priced. In addition, digitization of assets resolves low cash liquidity and saves money and time throughout the supply chain through smart contracts, lowering entry barriers to wine investment. In particular, if the governance of the block chain is composed of 'chateau-distributor-investor' through consortium blockchains, it can create a desirable wine market. The production process is stored in the block chain to secure production costs, set a reasonable launch price, and efficiently operate the distribution system by storing the distribution process in the block chain, and forecast the amount of orders for futures trading. Finally, investors make rational decisions by viewing all of these data. The study presented a new perspective on alternative investment in that ownership can be treated like a share. We also look forward to the simplification of food import procedures and the formation of trust within the wine industry by presenting a framework for wine-owned sales. In future studies, we would like to expand the framework to study the areas to be applied.

• Journal of Korean Society of Forest Science
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• v.55 no.1
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• pp.59-67
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• 1982

The objectives of this report is to evaluate the contribution of forest investments by the forest owners for the developments of private forests in the villages where the forest production, especially, chestnut production is active. The results obtained are as follows : 1) Newly purchased forest lands of 526 hectares, 71 percent, in 741 hectares by 96 farmers were replanted with chestnut trees for chestnut production. 2) As the chestnut production is considered to be the unique source of the early capital return in management of forests, selling and buying of forest lands in the area surveyed are enhanced to reforest the forest land with chestnut seedlings. 3) Most of new farmers being engaged in plantation and production of chestnuts in the forests are employees of private industries and government agencies, and merchants in neighboring towns. 4) All materials and expenses for formation of chestnut orchards are generally supplied by forest land owners. 5) Active buying and selling of newly established chestnut bushes are surely served as the estate in the area, thus, the trading of the bushes of young chestnut seedling also enhances the forest as the estate. 6) The management of forest established with chestnut orchards is a special form for forest investment, it makes possible to encourage imputing of capital to the new form of forests, chestnut orchards, and it could be a good possible model for private forest development as compared with that of government funding.

• Journal of the Korean Society of Food Science and Nutrition
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• v.44 no.5
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• pp.664-672
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• 2015

In order to develop new immuno-stimulating ingredients from mature leaves of green tea, crude polysaccharides were isolated from pectinase digests of tea leaves (green tea enzyme digestion, GTE-0), after which their immuno-stimulating activities and chemical properties were examined. GTE-0 mainly contained neutral sugars (54.9%) such as glucose (14.2%), arabinose (12.2%), rhamnose (11.1%), and galacturonic acid (45.1%), which are characteristic of pectic polysaccharides. The anti-complementary activity of GTE-0 was similar to that of polysaccharide K (used as positive control). Number of morphologically activated macrophages was significantly increased in the GTE-0-treated group. GTE-0 significantly augmented $H_2O_2$ and reactive oxygen species production by murine peritoneal macrophage cells in a dose-dependent manner, whereas production of nitric oxide showed the highest activity at a dose of $100{\mu}g/mL$ among all tested concentrations. Murine peritoneal macrophages stimulated with GTE-0 showed enhanced production of various cytokines such as interleukin (IL)-6, IL-12, and tumor necrosis factors-${\alpha}$ in a dose-dependent manner. Further, GTE-0 induced higher phagocytic activity in a dose-dependent manner. In ex vivo assay for cytolytic activity of murine peritoneal macrophages, GTE-0-treated group showed significantly higher activity compared to the untreated group at an effector-to-target cell ratio of 20. The above results lead us to conclude that polysaccharides from leaves of green tea have a potent immuno-stimulating effect on murine peritoneal macrophage cells.

• Journal of Animal Science and Technology
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• v.51 no.5
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• pp.395-406
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• 2009

Fifty four Hanwoo steers in final fattening period were assigned to 3 groups control, top dressed $PROSOL^{(R)}$ as an emulsifier (TP) and DSP group (experimental diet made to down spec of nutrients with $PROSOL^{(R)}$, which is sodium stearoyl-2-lactylate), based on the body weight (647.96${\pm}$41.31 kg) and months of age (27.3${\pm}$0.8 mo), and the experiment was conducted to establish the reasonable fattening method of Hanwoo steers for 91 days. Average daily body gains during trial were 0.94, 0.84 and 0.98 kg in control, TP and DSP, respectively (P=0.011). DDMI/ADG of TP group tend to lightly improving compared to control and DSP group (P=0.692). There was no effect of supplementation of the $PROSOL^{(R)}$ in concentrates on growth rate, feed efficiency and shrinkage in Hanwoo steers during the short final fattening period. MQI from TP and DSP was not different based on the rib-eye area and carcass weight in carcass than that from control. Back fat thickness tended to be thicker than control (P>0.05). Marbling score, texture and maturity for TP and DSP was abundantly to increase compared to control (P<0.003). There was significantly increment in supplemented $PROSOL^{(R)}$ (P<0.0001). The meat quality grade of control, TP and DSP were 2.94, 3.78 and 4.50, respectively. Related to this result, the auction price (carcass/kg) were gained significantly (P<0.003) from control (17,560), TP (18,586) and DSP (19,266 won) so which the monetary return was the highest in DSP and the differences was recognized between TP and DSP. Percentage over 1st grade appeared in control, TP and DSP were 55.4, 88.9 and 100.0%, respectively. These results supported the hypothesis that supplementation of emulsifier improve the marbling score and the carcass quality grade by increased digestibilities of the feed fat in Hanwoo steers in fattening period.

• The Korean Journal of Financial Management
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• v.22 no.1
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• pp.71-91
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• 2005

The object or this paper is to analyze the rollover effect on KOSPI 200 index option prices. Especially we analyze the implied volatilities of the options that became the near maturity options as the old one expired. For this analysis, a panel data of KOSPI 200 Index Option Prices from year 1999 to year 2001 were used, and following results were obtained. First, after controlling for the underlying index returns, strike prices and other pricing factors, the call option prices tend to decrease while the put option prices tend to increase during the week of expiry. Second, if one concentrates on the daily price changes, call option prices tend to go up on Thursday (as the old options expire), and then experience a price decrease on the following day, while the reverse is true for the put options. These results imply that the option prices are affected by some of the market micro-structure effects such as whether the option is the near maturity option. We conjecture that the reason for this is related to the undervaluation of KOSPI 200 futures. The results from this paper have implications on the timing of option trades. If one wants to buy put options, and/or sell call options, he has better off by executing his intended trades before the old options expire. On the other hand, if one wants to buy call options, and/or sell put options, hi has better off by executing his intended trades after the expiry.

• The Korean Journal of Financial Management
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• v.25 no.4
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• pp.53-78
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• 2008

Foreign investors who invest in the Korean stock markets are exposed to two kinds of foreign exchange rate risk, the economic exposure and the translation exposure. The former is the foreign exchange rate exposure in return generating process of the assets invested and the latter is the foreign exchange rate exposure in the translation of domestic return into foreign investors' currency. Domestic investors, however, are exposed only to foreign exchange rate exposure in the asset invested. This different situation on foreign exchange rate exposure between foreign investors and domestic investors can induce different response to exchange rate change by investor groups. Previous studies on foreign exchange rate exposure of Korean firms reported that quite a few Korean firms are exposed to foreign exchange risks and suggested to manage the foreign exchange risks. Also, many studies on the market segmentation showed that a market can be practically segmented according to the characteristics of investor groups. These studies support the hypothesis that the Korean stock market can be practically segmented by the foreign investors' attitude to the foreign exchange rate exposure. This study examines the response of both foreign investors and domestic investors to the foreign exchange rate exposures in Korean stock markets. Test results show that foreign investors increase their sell transactions when the foreign exchange rate exposure of the previous day is negative. This result can be possible when foreign investors attempt to actively manage the decrease in value of their assets due to rising of exchange rate. Analysis on the sell order data is also supportive to this interpretation. Foreign investors also increase their buy transactions when the foreign exchange rate exposure of the previous day is negative. This result can be possible when foreign investors use actively the relation between the increase in asset value and the translation gain due to declining of exchange rate. Analyses on buy order data, however, do not show the same result as the analyses on transaction data. This difference may come from the difference of information contained in transaction data and order data. In summary, the result of the paper supports the hypothesis that foreign investors response differently to foreign exchange rate exposure compared with domestic, Korean investors. Two groups do not show different response when exchange rate exposure is positive, i.e., as foreign exchange rate is increase (decrease), the asset value is increase (decrease). However, foreign investors' response is different from that of domestic investors when exchange rate exposure is negative, i.e., as foreign exchange rate is increase (decrease), the asset value is decrease (increase). These results mean that foreign investors and domestic investors are placed in different situations related to foreign exchange rate exposure, and these differences are reflected in the Korean stock markets. And domestic investors need to consider foreign investors' different attitude to the foreign exchange rate exposure when they analysis foreign investors' trading behavior.

• International Commerce and Information Review
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• v.13 no.4
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• pp.177-201
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• 2011

Myanmar had fallen behind other southeast asian nations since Burmese way to Socialism settled down. However, historically second election in Myanmar hold in 2011 and dramatic changes in areas such as Special Economic Zone announcement, the very huge inflows of foreign direct investment in a year of 2009, the infrastructure building projects, a permit of the right to strike for Labour Organization in Myanmar etc. Particularly, Foreign investments and trade with neighbouring countries are actively growing and also with Korea. But investments of Korea in Myanmar relatively are not diversity, with limited sectors such as mining and sewing manufacturing. In this point of view, this paper is trying to make implications for strategies of entry and investments of Korea in Myanmar by using previous papers related to Myanmar economies, trade and foreign investments with updated statistical data. The implications for Korea is that recently Myanmar economy is in its early stages of development. Although it can occur huge demand of railway, road, communications and constructions related to social infrastructures essentially needed for development of a country, these sectors relatively need huge investments. On the other hands, textile and sewing industry relatively need smaller investments in which investors can utilize low labour cost and a position for export to third countries. But those firms which set up for those purpose in Myanmar might have trouble creating domestic markets in future. Moreover, due to demand which occur in the early stage of growth in Myanmar, trade volume tend to increase and trading is also possible to invest but Myanmar still have lots of problems with infrastructure such as road and logistics and we need to make pre-survey for the costs and benefits of our products Finally, Myanmar government is trying to promote and encourage some of industries such as export-oriented industry, import substitution industry and labour-intensive industry. It can also means they will accumulate capital which can be sources for Myanmar economic growth.

• International Commerce and Information Review
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• v.13 no.4
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• pp.51-79
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• 2011

Korea has accomplished the establishment of the National Single Window for Paperless Trade. Since 1991, it has developed Trade Automation Service System based on EDI technology. In 2003, Korean government and private sectors jointly began to set up National Paperless Trade Service( e-Trade Service) as one of the e-government projects. In 2008, they commenced the uTradeHub Service which was equipped with Internet based e-B/L and e-Nego service systems for the first time in the world To facilitate the service Korea amended its e-Trade facilitation Act and Law by 2007. At the end of 2011, Korea historically recorded its trade volume of 1 trillion US dollars and joined '$1 trillion trade club' as the 9the member country since the country had started international trade less than five decades ago. A rolling out of the e-B/L and e-Nego service will 'ally reduce the transaction costs of trading businesses and accelerate the activation e-trade services. The purposes of the study are to examine 'e-B/L Korea' service and its facilitation strategies as well as identify obstacles to utilize the 'e-B/L Korea' service. The paper reviewed and analyzed Korea's Paperless trade system and distinctive characteristics of the 'e-B/L Korea Service. Parts of the fOWld distinctive characteristics of the Korea's e-B/L service are as follows; It is well equiped with IT and legal system. It also has more that 30,000 potential users who are already uTradeHub service users. The paper indicated several weaknesses of the current system such as global KPI issues, circulation of the electronic documents not only in the domestic market but also among economies, development of the electronic Bill of Exchange. As resolution measures, the paper recommended the introduction of mutual recognition system of PKI among trade partner counties, setting up e-trade solution for small and medium companies, and special attention to raise users' awareness of the e-B/L service.

• Journal of Intelligence and Information Systems
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• v.19 no.3
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• pp.45-55
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• 2013

Thereby using smartphone and mobile device be more popular the more people utilize mobile device in many area such as education, news, financial. In January, 2007 Apple release i-phone it touch off rapid increasing in user of smartphone and it create new market and these broaden its utilization area. Smartphone use WiFi or 3G mobile radio communication network and it has a feature that can access to internet whenever and anywhere. Also using smartphone application people can search arrival time of public transportation in real time and application is used in mobile banking and stock trading. Computer's function is replaced by smartphone so it involves important user's information such as financial and personal pictures, videos. Present smartphone security systems are not only too simple but the unlocking methods are spreading out covertly. I-phone is secured by using combination of number and character but USA's IT magazine Engadget reveal that it is easily unlocked by using combination with some part of number pad and buttons Android operation system is using pattern system and it is known as using 9 point dot so user can utilize various variable but according to Jonathan smith professor of University of Pennsylvania Android security system is easily unlocked by tracing fingerprint which remains on the smartphone screen. So both of Android and I-phone OS are vulnerable at security threat. Compared with problem of password and pattern finger recognition has advantage in security and possibility of loss. The reason why current using finger recognition smart phone, and device are not so popular is that there are many problem: not providing reasonable price, breaching human rights. In addition, finger recognition sensor is not providing reasonable price to customers but through continuous development of the smartphone and device, it will be more miniaturized and its price will fall. So once utilization of finger recognition is actively used in smartphone and if its utilization area broaden to financial transaction. Utilization of biometrics in smart device will be debated briskly. So in this thesis we will propose fingerprint numbering system which is combined fingerprint and password to fortify existing fingerprint recognition. Consisted by 4 number of password has this kind of problem so we will replace existing 4number password and pattern system and consolidate with fingerprint recognition and password reinforce security. In original fingerprint recognition system there is only 10 numbers of cases but if numbering to fingerprint we can consist of a password as a new method. Using proposed method user enter fingerprint as invested number to the finger. So attacker will have difficulty to collect all kind of fingerprint to forge and infer user's password. After fingerprint numbering, system can use the method of recognization of entering several fingerprint at the same time or enter fingerprint in regular sequence. In this thesis we adapt entering fingerprint in regular sequence and if in this system allow duplication when entering fingerprint. In case of allowing duplication a number of possible combinations is $\sum_{I=1}^{10}\;{_{10}P_i}$ and its total cases of number is 9,864,100. So by this method user retain security the other hand attacker will have a number of difficulties to conjecture and it is needed to obtain user's fingerprint thus this system will enhance user's security. This system is method not accept only one fingerprint but accept multiple finger in regular sequence. In this thesis we introduce the method in the environment of smartphone by using multiple numbered fingerprint enter to authorize user. Present smartphone authorization using pattern and password and fingerprint are exposed to high risk so if proposed system overcome delay time when user enter their finger to recognition device and relate to other biometric method it will have more concrete security. The problem should be solved after this research is reducing fingerprint's numbering time and hardware development should be preceded. If in the future using fingerprint public certification becomes popular. The fingerprint recognition in the smartphone will become important security issue so this thesis will utilize to fortify fingerprint recognition research.

• Journal of the Korean Geographical Society
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• v.28 no.4
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• pp.379-391
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• 1993

Present-day world economy is characterized by : technology nationalism, economic regionalism, market protectionism, multinational corporations, efc. All nations are striving for intensifying national economic rivalry and seeking after their own interests above everything else. Many regions of the world are also forming trading blocs, which could negatively affect nonmember states. The ultimate way to meet these difficulties is to establish production facilities in the countries imposing trade regulations. However, as the existing models of direct forrign investment (DFI) do not account for the particular nature of Korean firm's DFI activities, a new point of departure is imperative. It is because of this that Korean firms have only limited firm-specific advantages, the basic precondition of extant DFI theories, compared with their developed counterparts.