• KDI Journal of Economic Policy
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• 제40권1호
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• pp.45-66
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• 2018

This paper measures the extent of comovements in stock returns between Korea and three major countries (China, Japan and the U.S.) using industry-level data for Korea from 2003 to 2016 in the spirit of the international capital asset pricing model. It also examines what drives the comovements between Korea and the three countries. We find that the comovements of Korean stock returns with those of the U.S. and Japan became smaller after the global financial crisis. In contrast, the comovement in stock returns between Korea and China became larger after the crisis. After an additional analysis, we conclude that trade linkage is the main driver of the comovements between Korea and the three countries.

• 한국유기농업학회지
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• 제12권2호
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• pp.135-151
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• 2004

U.S. organic farming has grown rapidly-20 percent or more annually-throughout the 1990s, which kept pace with consumer demand for organically produced food. Thus certified organic acreage is the total to 235 million acres in 48 state in 2001, and SO the U.S. ranked fourth in land area managed under organic farming systems. And according to several surveys, consumer's reasons for purchasing organic food are health and nutrition, taste and environmental concerns. California and North Dakota were the top two states in 2001 for certified organic cropland; the former with mostly fruits and vegetables, and the latter with wheat, soybeans, and other crops. And the top two states for certified organic pasture were Colorado and Texas. And then several states such as Iowa and Minnesota have begun subsidizing conversion to organic farming systems as a way to capture the environmental benefits of these systems. The price of organic produce fluctuates rather broadly because of being traded by market economy principle and of demand-supply disequilibrium. Nevertheless, average price premiums for organic produce are higher than the prices for the produce under conventional farming. Future prospects for U.S. organic farming are as follows; Demand for organically grown foods is expected to continue growing at a rapid pace, as more growers convert to organic production and more processors and distributors expand organic selections in their product lines. And new processed products and new types of healthy foods are likely to appear on the market, and some new organic products will be aimed at mainstream markets.

• KDI Journal of Economic Policy
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• 제42권1호
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• pp.57-95
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• 2020

As a case study of an ex-post evaluation of regulations, in this paper I evaluate the 'uniform settlement rate requirement', a regulation that was introduced in 1986 and that was applied to the international telephone market in the U.S. for more than 20 years. In a bilateral market between the U.S. and a foreign country, each U.S. firm and its foreign partner jointly provide international telephone service in both directions, compensating each other for terminating incoming calls to their respective countries. The per-minute compensation amount for providing the termination service, referred to as the settlement rate, is determined by a bargaining process involving the two firms. In principle, each U.S. firm could have a different settlement rate for the same foreign country. In 1986, however, the Federal Communications Commission introduced the Uniform Settlement Rate Requirement (USRR), which required all U.S. firms to pay the same settlement rate to a given foreign country. The USRR significantly affected the relative bargaining positions of the U.S. and foreign firms, thereby changing negotiated settlement rates. This paper identifies two main routes through which the settlement rates are changed by the implementation of the USRR: the Competition-Induced-Incentive Effect and the Most-Favored-Nation Effect. I then empirically evaluate the USRR by estimating a bargaining model and conducting counterfactual experiments aimed at measuring the size of the two effects of the USRR. The experiments show remarkably large impacts due to the USRR. Requiring a uniform settlement rate, for instance, results in an average 32.2 percent increase in the negotiated settlement rates and an overall 13.7 percent ($3.43 billion) decrease in the total surplus in the U.S. These results provide very strong evidence against the implementation of the USRR in the 1990s and early 2000s.

• 한국중재학회지:중재연구
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• 제33권4호
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• pp.69-87
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• 2023

This study recognizes that consumers are becoming important as a subject of commerce as they change from the existing e-commerce market to the consumer-led e-commerce market, and proposes the use of consumer intervention as a remedy for consumer damage in international e-commerce disputes. In Korea, there is no separate regulation on consumer arbitration, so we will analyze the U.S. arbitration judgment, which is the most active in consumer arbitration, and examine it through the U.S. arbitration judgment so that arbitration can become active as a remedy for consumer disputes in Korea. In summary, in the event of a dispute between consumers and companies through e-commerce, consumers' preference for arbitration was confirmed through repeated collection of opinions without coercion. It is necessary to revitalize arbitration in Korea to protect consumers through arbitration rather than litigation and to resolve disputes through active alternative dispute resolution as a solution to disputes in e-commerce, which is rapidly increasing through U.S. consumer arbitration cases. The topic of the activation of arbitration has been mentioned a lot before, but the preference for arbitration is still lower than that of litigation. However, from now on, as the appearance of existing commerce has changed to consumer-led e-commerce, it has proposed a plan to use arbitration to rescue consumers from damage as consumers as buyers grow in the market.

• 대한예방한의학회지
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• 제23권1호
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• pp.1-13
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• 2019

Backgrounds : The market of Complementary Alternative Medicine(CAM) in the United State(U.S.) accounts for a large proportion of the global CAM market and has a high growth rate. The recent introduction of Obama Care has brought the change in the health insurance system for CAM, and we need to analyze it for its implication to Korean system. Objectives : The purpose of this study is to investigate the current status of acupuncture and chiropractic health insurance in the U.S., and to draw implications for expanding the health insurance coverage for Korean traditional medicine through the comparison between the U.S. and Korean health insurance systems. Methods : We examined the data through the literature search and from the websites of both U.S. government departments and related organizations for the health insurance policy. Based on the collected data, we analyzed its CAM health insurance system in Korea. Results : The acupuncture covered by public health insurance in the U.S. has a limit in the number of treatments and a range of applied diseases compared with Korea. In addition, the practice of acupuncture is not subdivided. However, the chiropractic in the U.S. which also has a limited number of coverage and only three categories of practices are similar to that of Korea. Conclusions : Although the use of CAM by public health insurance is not active in the U.S., but the organizations such as Veterans Health Administration in Vermont is already discussing the use of acupuncture to solve the problem of opioid overuse. Thus Korea also needs to discuss to promote the expansion of the insurance system for CAM.

• 지능정보연구
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• 제13권4호
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• pp.45-63
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• 2007

유비쿼터스 환경에 기반한 시장, 즉 U-마켓에서는 고객이 제품을 구매함과 동시에 고객의 정보가 u-마켓 서버시스템에 저장되어 인터넷 쇼핑몰과 같이 다양한 분석과 활용이 가능하게 되었다. 물리적인 공간과 가상 공간이 결합된 유비쿼터스 기반의 시장 환경에서는 고객이 오프라인에서 다양한 매장을 방문하면서 쇼핑을 하게 되는데, 이때 여러 매장에 동일한 제품이 동시에 존재할 수 있으므로 매장의 위치, 매장 분위기, 제품의 품질이나 가격 등에 대한 고객의 선호도를 반영하여 고객 개개인에게 적절한 매장을 추천해야 할 필요성이 제기된다. 본 논문에서는 유비쿼터스 환경에 기반한 시장에서 고객의 쇼핑 상황을 고려하여 고객의 선호를 반영할 수 있는 매장 추천방법을 제안한다. 제안한 매장 추천방법은 협업 필터링과, Apriori 알고리즘을 기반으로 구성되어 있다. 온라인 쇼핑몰과는 다르게 U-마켓에서는 고객 개개인의 구매목록과 고객의 선호도를 반영한 매장 추천이 필요하며, 본 논문에서 제안하고 있는 매장 추천방법은 고객의 쇼핑경험을 극대화 하고 쇼핑 효율성을 제고시킬 뿐 아니라 장기적인 관점에서 매출증대를 통해 U-마켓 활성화에 기여할 수 있을 것으로 기대한다.

• Journal of Evidence-Based Herbal Medicine
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• 제1권2호
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• pp.17-26
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• 2008

Nowadays the flow of international trade is that there seems to appear economic block significantly because most countries contract FTAs, so our market condition is changing to a severe competitive situation. Korea which has 70% of foreign dependence of trade must get involved in regionalism, and also actively promote FTA more than any other countries. FTA on February in 2006, the pharmaceutical industry are anxious. The pharmaceutical industry in Korea has recently come to a crisis that it is hard to expect a growth due to structure of profit and a change for the worse of management. If Korea-U.S. FTA are contracted in this kind of situation, domestic pharmaceutical companies will be at stake. We can anticipate that FTA with the country that has a strong competitive power like U.S. affect negatively on pharmaceutical industry, because the industry doesn't have enough self-competitiveness. Considering this kind of surroundings, we need to present the policy to enhance competitiveness for damage limitation on pharmaceutical industry by Korea-U.S. FTA. Under this background, this research has groped for a direction to strengthen the competitiveness to develop pharmaceutical industry in quality. The competitive enhancement plan is presented which is divided into the government policy part, the R&D part, and the management part. Although Korea-U.S. FTA is analyzed to wither the pharmaceutical industry, it would be thought that it is a good chance to upgrade domestic pharmaceutical industry if we make the best use of it, and also to make in roads into foreign market.

• 한국디지털정책학회:학술대회논문집
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• 한국디지털정책학회 2004년도 International Conference on Digital Policy & Management
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• pp.129-144
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• 2004

The purpose of this paper is to identify current trends in the sport industry in Korea, U.S. and Japan and to also analyze the potential of the sport industry in the 21st Century. This paper analyzes the current sport related index of Korea, U.S. and Japan and the effect of scientific development. Scientific development has provided prosperity to modern societies and has thus increased the personal disposable income and leisure time available to people living in these societies, Many people spend their?leisure time on sports related activities and the number is growing day by day and this situation makes the sports market a very attractive and important business sector in the world. Considering the increase of household income and leisure time and the introduction of a five-day working week system, the sports market potential growth will be considerable and it is certain the demand for sports related activities, services and products will also show increases in the 21st Century. This paper estimates that sports expenditures could be estimated at $10 billion in Korea, $150 billion in U.S and 4.3 billion yen in Japan. The general trends currently in action in the sport industry estimate that these numbers are growing rapidly and the relative importance of the sport industry among all industries is becoming one of the most important new emerging markets in the world.

• 재무관리연구
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• 제13권1호
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• pp.341-357
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• 1996

Some empirical studies have shown that asset prices respond to announcements of economic news, however, others also have found little evidence. This study assesses how market participants of the S&P 500 Index Futures reacted to the U.S. economic news announcements. For this purpose, using a GARCH (Generalized Autoregressive Conditional Heteroscedasticity) model, we use several U.S. news variables, its each surprise component and interest rates. We find that some economic news variables affected significantly on the S&P 500 Index Futures. In other words, we find that weekend variable, lagged volatility, and surprise component of trade deficit increased level of volatility. However, interest rate, M1, unemployment announcements caused the variance of the S&P 500 Index Futures to reduce, and each of the surprise component of M1 and trade deficit increased it. The result suggests that resolution of uncertainty, through economic news announcement, while, in some cases, causes market participants to reduce their forecast of volatility, a large difference between the market's forecast and the realization of the series causes the volatility to increase.

• 디지털융복합연구
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• 제18권12호
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• pp.183-193
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• 2020

본 연구는 오프쇼어링과 리쇼어링의 원인을 해석하고 이를 촉진시키는 요인과 발생 분야에 대해 검증하고자 한다. 자기조직화 현상과 프로스펙트 이론 관점 하, 미국 리쇼어링 협회의 실측 데이터를 활용하여 미국의 리쇼어링과 오프쇼어링의 실질적인 효과를 계량분석 방법으로 실증 분석 하였다. 연구결과 미국으로의 오프쇼어링은 미국 내 시장력과 투자국가의 혁신성에 양의 상관관계를 보이고, 미국기업의 미국 본국으로의 리쇼어링은 미국 내 시장력에 양의 상관관계이지만, 혁신성과는 상관관계가 미미하였다. 미국기업의 리쇼어링은 해외기업의 오프쇼어링을 이끌며 강한 상관관계를 보이고 있고, 아시아 등 경제 신흥국은 추격 사이클이 짧은 IT분야에 오프쇼어링을 집중하는 경향이 나타났다. 본 연구는 국가의 기업 투자지원 정책 방향성 수립과 경영자의 생산기반 투자 의사 결정에 기여할 것으로 본다. 향후 연구는 리쇼어링과 오프쇼어링의 영향 인자를 보강하여 경제적 후생 평가 모형을 완성하고자 한다.