• Korean Journal of Soil Science and Fertilizer
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• v.15 no.1
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• pp.2-15
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• 1982

In this report, a total domestic demand for major commercial fertilizer for crop production in Korea up to 1996 was estimated. The agricultural products and area for demand for both 1982 and 1986 was quoted from the estimate of the 5th Five-year Economic plan. And the demands estimated for 1991 and 1996 reflected possible changes of diet from cereal to meat and their indirect effects on the increase of cereal consumption. As the advanced countries followed, consequently, the demands for soybean, corn and other feed grains were expected to be increased as well as the land for growing those crops. 1. Total annual demands for nitrogen, phosphorus and potassium fertilizers were estimated 1,050,000M/T, 1,110,000M/T, 1,280,000M/T and 1,010,000M/T for the year 1982, 1986, 1991, and 1996 respectively. 2. It was assumed that there would be difficulties in self-sufficiency of grains at the cost of the maximum utilization of land and fertilizers in 1996. 3. It was clear that the increase of the productivity per unit area is possible by improving the conditions of arable land which could resulted a self-sufficiency of food in Korea. As a consequence, the demand for fertilizers at that time would exceed the level of estimates. 4. The recent decrease in demand for commercial fertilizers (currently estimated 850,000M/T) was due to an inadequate application of fertilizers for respective crop reqirement. This inadequacy should be checked and encouraged the consumptions of fertilizers to be increased by supporting the price of grain.

• KDI Journal of Economic Policy
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• v.12 no.2
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• pp.95-120
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• 1990

The underpricing of new shares of a firm that are offered to the public for the first time (initial offerings) is well known and has puzzled financial economists for a long time since it seems at odds with the optimal behavior of the owners of issuing firms. Past attempts by financial economists to explain this phenomenon have not been successful in the sense that the explanations given by them are either inconsistent with the equilibrium theory or implausible. Approaches by such authors as Welch or Allen and Faulhaber are no exceptions. In this paper, we develop a signalling model of capital investment to explain the underpricing phenomenon and also analyze the efficiency of investment. The model focuses on the information asymmetry between the owners of issuing firms and general investors. We consider a firm that has been owned and operated by a single owner and that has a profitable project but has no capital to develop it. The profit from the project depends on the capital invested in the project as well as a profitability parameter. The model also assumes that the financial market is represented by a single investor who maximizes the expected wealth. The owner has superior information as to the value of the firm to investors in the sense that it knows the true value of the parameter while investors have only a probability distribution about the parameter. The owner offers the representative investor a fraction of the ownership of the firm in return for a certain amount of investment in the firm. This offer condition is equivalent to the usual offer condition consisting of the number of issues to sell and the unit price of a share. Thus, the model is a signalling game. Using Kreps' criterion as the solution concept, we obtained an essentially unique separating equilibrium offer condition. Analysis of this separating equilibrium shows that the owner of the firm with high profitability chooses an offer condition that raises an amount of capital that is short of the amount that maximizes the potential profit from the project. It also reveals that the fraction of the ownership of the firm that the representative investor receives from the owner of the highly profitable firm in return for its investment has a value that exceeds the investment. In other words, the initial offering in the model is underpriced when the profitability of the firm is high. The source of underpricing and underinvestment is the signalling activity by the owner of the highly profitable firm who attempts to convince investors that his firm has a highly profitable project by choosing an offer condition that cannot be imitated by the owner of a firm with low profitability. Thus, we obtained two main results. First, underpricing is a result of a signalling activity by the owner of a firm with high profitability when there exists information asymmetry between the owner of the issuing firm and investors. Second, such information asymmetry also leads to underinvestment in a highly profitable project. Those results clearly show the underpricing entails underinvestment and that information asymmetry leads to a social cost as well as a private cost. The above results are quite general in the sense that they are based upon a neoclassical profit function and full rationality of economic agents. We believe that the results of this paper can be used as a basis for further research on the capital investment process. For instance, one can view the results of this paper as a subgame equilibrium in a larger game in which a firm chooses among diverse ways to raise capital. In addition, the method used in this paper can be used in analyzing a wide range of problems arising from information asymmetry that the Korean financial market faces.

• Korean journal of food and cookery science
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• v.13 no.3
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• pp.272-277
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• 1997

To evaluate the quality of commercial anchovy sauces, 8 varieties (2 products from the Fishery Cooperation, 2 from small companies, and 4 well-known brands) were chosen and their physicochemical and sensory properties were examined. The salinity of anchovy sauces ranged from 19.8％ to 26%, where product E was the saltiest and followed by F> H > B > E > A> C = G > D. Product D with the least salinity was turbid, rancid, and high in ammonia content, suggesting that it is difficult to control the quality of anchovy source with a low salt content. Protein content of anchovy sauces ranged from 2.51％ to 2.64%. The unit price of anchovy source A was the highest, whereas B was the lowest. Sensory evaluation scores of anchovy sauces were in the order of B > G > A > F > E > C > H > D for color, B > G = C > H > E = F > G > D for odor, E > C > F > G > H > D > B > A for saltiness, and B > A > C > H > E = F > G > D for overall acceptability. Above results suggest that product B was the best in quality as well as the cheapest among all. Based on the above results, kimchies were prepared with product A, B, C with a high sensory quality and product H with a high market occupancy, and sensory evaluation was performed. The kimchi with product C got the highest sensory score in appearance and the one with product A and H in odor. Although the kimchi with product A generally had high scores throughout the fermentation period, there were no significant differences in texture, salty taste, and overall acceptability among kimchies with different varieties of anchovy sauces.

• Journal of agricultural medicine and community health
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• v.44 no.1
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• pp.28-38
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• 2019

Objectives: We searched and reviewed the literature including the laws or acts, statistics, guidelines, papers and conference proceedings related to home visit nursing care in South Korea. Method: We searched and reviewed the literature including the laws or acts, statistics, guidelines, papers and conference proceedings related to home visit nursing care in Korea. Results: There are three types of home care nursing in Korea. Public health center provides home visit nursing to vulnerable population by registered nurses for free, based on community health act in public health center. As of 2017, 1,261,208 people were enrolled in the visiting health program of public health center. Health behavior and disease management has been improved and showed having cost-benefit effect among the enrolled people in visiting health program. Visiting nursing care in long-term care services is provided by registered nurses or nurse aid, based on long-term care act. The cost is paid as the unit price according to service time. 1,095,764 older people used long-term care services in 2017, only 0.2% of total cost used for home visiting nursing. Even though the number of user of home visiting nursing, it was reported that users spent less medical cost and hospitalized shorter. Hospital-based home care nursing is provided to patients and their families under the prescription of a doctor by family nurse specialists who are employed by medical institute based on medical law. Four hundred sixty family nurse specialists worked for hospital-based home care nursing and hospital-based home care services accounted for 0.038% of total medical expenses in 2017. Conclusion: Even though home visit nursing care services are different in aspect of legal basis, personnel, running institutes, and cost basis, home visit nursing care showed cost-benefit effect and good health outcomes. In order to advance home visit nursing care, the integrated home visiting care, improvement of working condition, and revision of legal basis should be considered.

• Journal of Bio-Environment Control
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• v.28 no.2
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• pp.143-149
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• 2019

This study was conducted to investigate the graft-taking and growth of grafted cucumber seedlings as affected by light quality and blink cycle of LED modules. Four light quality treatments, namely blue, red, blue+red, white LED and four blink cycle levels of 5s/5s, 7s/3s, 9s/1s and control were provided to investigate the effect of lighting quality and blink cycle on the graft-taking and growth of grafted cucumber seedlings. Photoperiod for the control was 12/12 h. Photosynthetic photon flux, air temperature, and relative humidity for healing were maintained at $100{\mu}mol{\cdot}m^{-2}{\cdot}s^{-1}$, $25^{\circ}C$, and 90%, respectively. There was no significant difference in graft-taking of grafted cucumber seedlings according to light quality except the blue LED with the blink cycle of 5s/5s. Regardless of the blink cycle, there was no significant difference in graft-taking of cucumber seedlings healed under red, blue+red, and white LED modules. These results implied that the effects of light quality and blink cycle on the graft-taking were not significant. Differences in the leaf length, leaf area, and fresh weight of cucumber seedlings healed blue or red LED with the blink cycle of 9s/1s were found to be significant. There was no significant effect of the blink cycle on the growth of cucumber seedlings healed under white LED modules. The prices of white LED are gradually falling due to increased demand. Considering the manufacturing unit price of white LED modules, the cost savings of 10-15% are expected as compared to the conventional blue/red LED modules. Therefore, it was concluded that the use of white LED modules will be economical as an artificial lighting sources for healing of grafted seedlings.

• The Journal of the Korean Institute of Forest Recreation
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• v.22 no.4
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• pp.11-22
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• 2018

This study analyzes the economic feasibility on the transition of production structure to increase income for a local forest village in Laos PDR. The study area was the Nongboua village in Sangthong district where the primary product is rice from rice paddy. Possible strategies were considered to increase the villagers' revenue, and Noni (Morinda citrifolia) was production in the short-term. We assumed that the project period was for 20 years for the analysis, and a total of 1,100 Noni tree was planted in 1 ha by $3m{\times}3m$ spacing. This study classified basic scenario one, scenario two, scenario three by the survival rate and purchase pirce of Noni. Generally Noni grows well. However, the seedlings' average survival rate (= production volume) was set up conservatively in this study to consider potential risks such as no production experience of Noni and tree disease. The scenario one assumed that the survival rate of Noni seedlings was 50% for 0-1 years, 60% for 0-2 years, and 70% for 3-20 years; the scenario two, 10% less, i.e., 40%, 50%, and 60%; and the scenario three, 10% less, i.e., 40%, 50%, 60% and purchase price 10% less, i.e., $0.29 to $0.26, respectively. Our analysis showed that all 3 scenarios resulted in economically-feasible IRR (internal rate of return) of 24.81%, 19.02%, and 16.30% of with a discounting rate of 10%. The B/C (benefit/cost) ratio for a unit area (1ha) was also analyzed for the three scenarios with a discounting rate of 10%, resutling in the B/C ratio of 1.71, 1.47, and 1.31. The study results showed that the Nongboua village would have a good opportunity to improve its low-income structure through planting and managing alternative crops such as Noni. Also the results can be used as useful decision-making information at a preliminary analysis level for planning other government and public investment projects for the Nonboua village.

• Journal of the Korea Society for Simulation
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• v.18 no.3
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• pp.73-82
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• 2009

Due to the many advantages including low price, low power consumption, and miniaturization, the CMOS camera has been utilized in many applications, including mobile phones, the automotive industry, medical sciences and sensoring, robotic controls, and research in the security field. In particular, the 360 degree omni-directional camera when utilized in multi-camera applications has displayed issues of software nature, interface communication management, delays, and a complicated image display control. Other issues include energy management problems, and miniaturization of a multi-camera in the hardware field. Traditional CMOS camera systems are comprised of an embedded system that consists of a high-performance MCU enabling a camera to send and receive images and a multi-layer system similar to an individual control system that consists of the camera's high performance Micro Controller Unit. We proposed the SL-AVS (Small Size/Low power Around-View System) to be able to control a camera while collecting image data using a high speed synchronization technique on the foundation of a single layer low performance MCU. It is an initial model of the omni-directional camera that takes images from a 360 view drawing from several CMOS camera utilizing a 110 degree view. We then connected a single MCU with four low-power CMOS cameras and implemented controls that include synchronization, controlling, and transmit/receive functions of individual camera compared with the traditional system. The synchronization of the respective cameras were controlled and then memorized by handling each interrupt through the MCU. We were able to improve the efficiency of data transmission that minimizes re-synchronization amongst a target, the CMOS camera, and the MCU. Further, depending on the choice of users, respective or groups of images divided into 4 domains were then provided with a target. We finally analyzed and compared the performance of the developed camera system including the synchronization and time of data transfer and image data loss, etc.

• Resources Recycling
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• v.32 no.3
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• pp.57-67
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• 2023

The treatment of waste plastic has primarily been entrusted to small companies, which has resulted in challenges in obtaining an accurate overview of the current state of affairs and ensuring profitability. Consequently, despite the presence of recycling technology, their practical application has proven to be challenging. In this study, as part of the waste plastic material recycling plan, it is assumed that the PET/OPP laminated waste film is peeled off at the waste film generation site for the second use. The recycling rate of PET/OPP delaminated waste film is assumed to be 2%, 10%, and 30% referring to the figures suggested by "Life-cycle Post Plastic Measures" from the Korean government. In this study, a physical separation method was developed as a recycling approach for waste PET. A result of cost-benefit analysis was conducted to evaluate the economic viability of the recycling process based on changes in the recycling rate. The findings indicated that a recycling rate of waste PET was 30% or higher resulted in a cost-benefit ratio (Benefit-cost ratio, BCR) of 1.32, exceeding the threshold of BCR ≥1, which is considered to meet the minimum requirement for cost-benefit balance. As the government's allocation ratio and unit price are expected to increase in the future, the cost-benefit ratio is expected to increase further. This case is expected to serve as a pilot initiative for waste PET recycling and foster profit creation for businesses in similar industries.

• Korean Journal of Agricultural and Forest Meteorology
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• v.25 no.3
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• pp.142-150
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• 2023

As global warming continues, the time of invasion of Spodoptera frugiperda has been advanced and the inflow rate has been increasing, leading to great increases in damage to crops. In this study, in order to minimize crop damage caused by S. frugiperda, the control period was set for corn fields through control thresholds, and the control effects according to the chemical spraying methods were investigated in forage corn filed. Even under the condition of 4% injury level during the corn silking stage, the damage rate of ear was 70%, showing an aspect of extensive damage. The economic injury level of S. frugiperda second instar larvae was shown to be 0.7 larvae per stalk, and the control threshold level was shown to be 0.6 larvae. The income was calculated by applying the corn wholesale unit price, and according to the result, even under the condition of injury level of 4%, there was a loss of KRW 895,221/10a, and the higher the injury level, the greater the decrease in income. To control S. frugiperda, the insecticidal effects of 10 single formulations registered for S. frugiperda were tested, and according to the results, four types(emamectin benzoate, chlorantraniliprole, indoxacarb, and spinetoram) showed high insecticidal activity not lower than 93.3%, and three types (chloran- traniliprole, spinetoram, and indoxacarb) were considered to be effective in controlling S. frugiperda as they showed high residual effects through insecticidal effect persistence tests. Therefore, conventional control and aerial control were conducted twice at 7-day intervals with indoxacarb SC and chlorantraniliprol WP, which show high activity against S. frugiperda, respectively, prior to the silking of forage corn. As a result, conventional control showed higher control values, 46.3%p in the case of indoxacarb SC and 21.7%p in the case of chlorantraniliprol WP, than aerial control through the primary control. In the secondary control too, higher control values of 26.7%p in the case of indoxacarb SC and 40.4%p in the case of chlorantraniliprol WP were found in conventional control than in aerial control. Therefore, it is considered necessary to prepare measures to improve the control effects in the recent situation where alternative methods for manpower control are widely used.

• Journal of Sericultural and Entomological Science
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• v.25 no.1
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• pp.34-43
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• 1983

These studies have been carried out to find better locations for sericultural service regardless of the international silk market fluctuation in Korea. In order to acieve the purpose, various investigations and analyses have been carried out for more than four hundred sericultural communities to find out the main factors which caused to decrease in cocoon production in spite of a gloomy past silk market. Now, we believe that we have set up some fundamental guide lines in developing sound serviceable sericultural communities in Korea in case the government accepts the written advices, and the results obtained are as follows: 1. The Korean sericulture has been very prosperous from the 60's to the 70's. In 1976 the cocoon production was at its peak, reaching 41,704M/T from which its decline took place with annual averages of 18.5% for total cocoon production and 16.4% for mulberry field. These figures represent a quantitative decrease to one-third of the total amount in 1976. Since then, the Korean sericulture had continuously suffered from a shortage of raw silk resulting in a slow development of sericulture. At present, a steady development through all possible measures is great importance. 2. The downfall of the korean sericulture resulted from two factors of such as the external, which led to the decline in the price of raw silk at the international market and restrain of import and, the internal, resulting in the little increase of cocoon price and a comparatively lower benefits from the sericulture than from other cash crops. 3. The already established sericultural zone collapsed and then reorganized with the outstanding regional specialization so the decline in total cocoon production in the country. Based on the agricultural regions, 1980 cocoon production was very stable in the mountaineaus area of the east-south which used with intercropping. In this area there was small decline of 33% compare with that of the 1979, and with 70% decline in the dry field farming area of Kangwon Do. In an administrative districtwise, six counties beginning with Sanchnung county of Kyungsang Nam Do, showed less than 20% decline of cocoon production, sixteen counties beginning with Samchuck county of Kangwon Do marked above 80% decrease of cocoon production. In the smaller unit area-wise, there was a big difference among them. twenty-five myons rather increased and a hundrd fourty-three myons decreased above 80% of it. 4. The cocoon production was positively correlated with the decreasing percentage of cocoon production per household. It was also affected by the ratio of the mulberry field area to the total cultivated area per household and cocoon productivity per 10a. 5. Four hundred sixty-four villages in the seventeen counties were surveyed on the basis of farm management and techniques concerned ('80/'79), and then the results were evaluated by using of computer. These results are summarized as foolows: (1) Cocoon production per household There was no difference among the agricultural regions in cocoon production. The cocoon production per household in the comparatively stable villages increased from 100.8kg in 1979 to 122kg in 1981. Cocoon yield in the stable villages decreased by 20% of '81/'79. The cocoon production per house hold in while that of the unstable villages decreased by more than 40% from 102.9kg in 1979 to 82kg in 1981. (2) Cocoon yield per 10a mulberry field The cocoon yield per 10a was higher in the plain area than in the mountaineous area. The stable villages had an average of 73.4kg cocoon yield/10a while the unstabe ones had only an average of 55kg. (3) Adoption the mulberry branch rearing method The branch rearing method was more popular in the plain area than in the mountainous area. In the stable vilages adopted 24.2% in spring and 16.7% in autumn of 1979. In 1981 it shwed increases of 34.3% and 10.1% in the two seasons respectivly. However, the unstable villages showed 13.3% and 126% in both seasons, respectively. (4) The patterns of the combined management system in the sericultural farming The popular management system in the sericultural from was combined with rice and other cash crops, showing 55% of the total households surveyed. Fourteen percent of the households combined the management system with rice and other cash crops and 14% of the households combined with rice only. The villages wich earned less than 20% of the total income from the sericulture reached 81% of the total houscholds indicating that they were still far beyond a complete combination system. (5) Damage by agricultural chemicals The damage caused by agricultural chemicals was mainly due to the protection of rice against insectpests and diseases in the plain areas and took place mostly in the autumn season. The chemicals applied was 65% of Iiquid and 35% of powder forms and 35% of damage was from granulat form of the chemicals. The use of the granular chemicals was low because of high cost.