• Korean Journal of Fisheries and Aquatic Sciences
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• v.34 no.6
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• pp.643-651
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• 2001

Paddlewheel-driven circulation in a culture pond has been simulated based on the depth integrated 2 dimensional hydrodynamic model. Acceleration by paddlewheel is expressed as shaft force divided by water mass discharged by paddlewheel blades. The model has been calibrated and applied to culture ponds as following steps:- i) The model predicted velocities at every 10 m along longitudinal direction from the paddlewheel. The model was calibrated comparing the results with the measured values at mass correction factor $\alpha$ and dimensionless eddy viscosity constant $\gamma$, respectively, in a range $15\~20$ and 6. ii) Wind shear stress was simulated under conditions of direction $0^{\circ}C,\;90^{\circ}C\;and\;180^{\circ}C$ and speed 0.0, 2.5, 5.0 and 7.5 m/s. Change rate of current speed was <$1\%$ at wind in parallel or opposite direction to the paddlewheel-driven jet flow, while $4\%$ at orthogonal angle. iii) The model was then applied to 2 culture ponds located at the Western coast of Korea. The measured and predicted currents for the ponds were compared using the regression analysis. Analysis of flow direction and speed showed correlation coefficients 0.8928 and 0.6782 in pond A, 0.8539 and 0.7071 in pond B, respectively. Hence, the model is concluded to accurately predict circulation driven by paddlewheel such that it can be a useful tool to provide pond management strategy relating to paddlewheel operation and water quality.

• Journal of the Korean Electrochemical Society
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• v.13 no.2
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• pp.116-122
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• 2010

A $Cu_3Si$ film electrode is obtained by Si deposition on a Cu foil using DC magnetron sputtering, which is followed by annealing at $800^{\circ}C$ for 10 h. The Si component in $Cu_3Si$ is inactive for lithiation at ambient temperature. The linear sweep thermammetry (LSTA) and galvano-static charge/discharge cycling, however, consistently illustrate that $Cu_3Si$ becomes active for the conversion-type lithiation reaction at elevated temperatures (> $85^{\circ}C$). The $Cu_3Si$ electrode that is short-circuited with Li metal for one week is converted to a mixture of $Li_{21}Si_5$ and metallic Cu, implying that the Li-Si alloy phase generated at 0.0 V (vs. Li/$Li^+$) at the quasi-equilibrium condition is the most Li-rich $Li_{21}Si_5$. However, the lithiation is not extended to this phase in the constant-current charging (transient or dynamic condition). Upon de-lithiation, the metallic Cu and Si react to be restored back to $Cu_3Si$. The $Cu_3Si$ electrode shows a better cycle performance than an amorphous Si electrode at $120^{\circ}C$, which can be ascribed to the favorable roles provided by the Cu component in $Cu_3Si$. The inactive element (Cu) plays as a buffer against the volume change of Si component, which can minimize the electrode failure by suppressing the detachment of Si from the Cu substrate.

• The Journal of Korean Academy of Prosthodontics
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• v.41 no.3
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• pp.369-378
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• 2003

Statement of Problem: Recently, resin cements have become more widely used and have been accepted as prominent luting cements. Current resin cements exhibit less microleakage than conventional luting cements. However, the constant contact with water and exposure to occlusal forces increase microleakage even in resin cements inevitably. Most bonding resins have been modified to contain a hydrophilic resin such as 2-hydroxyethylmethacrylate (HEMA) to overcome some of the problems associated with the hydrophobic nature of bonding resins. By virtue of these modifications, bonding resins absorb a significant amount of water, and there may also be significant stresses at bonding interfaces, which may adversely affect the longevity of restorations. Therefore the reinforcement of water stability of resin cement is indispensable in future study. Purpose: This study was conducted to examine the influence of water retention on microleakage of two resin cements over the period of 6 months. Materials and Methods: 32 extracted human teeth were used to test the microleakage of a single full veneer crown. Two resin cements with different components and adhesive properties - Panavia F (Kuraray Co., Osaka, Japan) and Super-Bond C&B (Sun Medical Co., Kyoto, Japan)- were investigated. The storage medium was the physiological saline solution changed every week for 1 month, 3 months, and 6 months. One group was tested after storage for 1 day. At the end of the each storage period, all specimens were exposed to thermocycling from $5^{\circ}C$ to $55^{\circ}C$ of 500 cycles and chewing simulation of 50,000 cycles, and then stained with 50% silver nitrate solution. The linear penetration of microleakage was measured using a stereoscopic microscope at ${\times}40$ magnification and a digital traveling micrometer with an accuracy of ${\pm}3{\mu}m$. Values were analyzed using two-way ANOVA test, Duncan's multiple range tests (DMRT). Results : Statistically significant difference of microleakage was shown in the 3-month group compared with the1-day or 1-month group in both systems (p<0.05) and there were statistically significant differences in microleakage between the 3-month group and the 6-month group in both systems (p<0.05). The two systems showed different tendency in the course of increased microleakage during 3 months. In Panavia F, microleakage increased slowly throughout the periods. In Super-Bond C&B, there was no significant increase of microleakage for 1 month, but there was statistically significant increase of microleakage for the next 2 months. For the mean microleakage for each period, in the 3-month group, microleakage of Super-Bond C&B was significantly greater than that of Panavia F. On the other hand, in the 6-month group, microleakage of Panavia F was significantly greater than that of Super-Bond C&B (p<0.05). Conclusion: Within the limitation of this study, water retention of two different bonding systems influence microleakage of resin cements. Further studies with the longer observation periods in viro are required in order to investigate water stability and the bonding durability of the resin cement. CLINICAL IMPLICATIONS Microleakage at the Cement-tooth interfaces did not necessarily result in the failure of the crowns. But it is considered to be a major factor influening the longerity of restorations. Further clinical approaches for decreasing the amount of microleakage are required.

• The Journal of Internal Korean Medicine
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• v.18 no.2
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• pp.268-295
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• 1997

Sweating is natural phenomenon necessary for the regulation of an individual's body-temperature. The secretion of sweat is mediated by a portion of our vegetative nervous system(the sympathetic nervous system). In some people, this system is working at a very high activity level, far higher than needed to keep a constant temperature. This condition is referred to as hyperhidrosis. Especially excessive sweating of the hands and the feet is palmoplantar hyperhidrosis or volar hyperhidrosis. This is by far the most distressing condition. It was founded that the first important cause of this was emotional factor. The hands are much more exposed in social and prefessional activities than any other part of our body. Many individuals with palmoplantar hyperhidrosis are limited in their choice of proffession, because unable to manipulate materials sensitive to humidity or reluctant to shake hands; some patients arrive to the point to avoid social contact. The occidental medical treatments for palmoplantar hyperhidrosis include application of topical agents(chemical antiperspirants such as aluminum chloride), iontophoresis(treatment with electrical current), or surgery(thoracic sympathectomy). It was reported that the most effective treatment was thoracic sympathectomy. So this study was started to find the easy and effective oriental medical treatments against the occidental medical treatments through the oriental medical literature. The occidental medical idea for palmoplantar hyperhidrosis is only limited in neurologic system, so surgery is the best treatment. But the oriental medical idea for palmoplantar hyperhidrosis is much wider, so the oriental medical causes and treatments for this are able to be veriety. And the oriental medical teatment is freely in treating the patients of palmoplantar hyperhidrosis, because entire idea including pulse, facial color, mental condition, constitution and other symptom exists in the oriental medicine. The results of a bibliographic study of causes and treatments for palmoplantar are as follows; 1. The main causes of pa1moplantar hyperhidrosis are heat in the stomach, damp-heat in the spleen and the stomach, insufficiency of the spleen-qi and the stomach-qi, deficiency of the spleen-yin and the stomach-yin, and the others are the stomach-cold syndrome, stasis of blood and dyspepsia in the stomach, disorder of the liver-qi, deficiency of the heart-yin and the kidney-yin, deficiency of the heart-yang and the kidney-yang, stagnated heat in the liver and the spleen, the lung channel-heat etc. 2. The main methods of medical treatments for palmoplantar hyperhidrosis are clearing out the stomach-heat, eliminating dampness and heat in the spleen and the stomach, invigorating the spleen-qi and the stomach-qi, reinforcing the spleen-yin and the stomach-yin, warming the stomach, relaxing the liver and alleviating of mental depression and tonifying the heart and the kidney etc. 3. The main prescriptions of palmoplantar hyperhidrosis are Taesihotang, Palmultang-kakam, Samyeongbaechusan, Chongbisan, Sasammaekmundongtang, the others are Leejungtang, Hwangkikonjungtang, Seungkitang, Boyumtang, Baekhotang, Chongsimyonjayum, Moyrosan, etc. 4. Local medicine for external use are liquid after boiling alum in water for about 1 or 2 hours, liquid after boiling alum and pueraria root in water and liquid after boiling stragalus root, pueraria root, ledebouriella root and schizonepeta in water, etc. 5. The methods of acupuncture therapy include invigorating Bokyru, Yumkuk and purgating Hapkouk, or invigorating Bokyru, Kihae and purgating Hapkouk, or steadying Hapkouk, Nokung.

• Current Research on Agriculture and Life Sciences
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• v.26
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• pp.55-62
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• 2008

To obtain food materials of high isoflavone content from soy-sprouts, 8 soy-sprout varieties, Aga 1, Aga 2, Aga 3, Aga 4, Pungsannamulkong, Eunhakong, Jangkikong and Bosugkong, were grown into soy-sprouts for 7 days under light condition and stored for 5 days at 6 different temperatures; 3, 6, 9, 20, 30, and $40^{\circ}C$ in the dark. The isoflavone content of 7 days grown sprout varieties were highest in the order of Aga 3>Aga 1>Aga 2>Aga 4>Jangkikong>Bosugkong>Eunhakong>Pungsannamulkong. The highest isoflavone content of Aga 3 was $4,619{\mu}g/g$. The isoflavone content of soy-sprouts showed much varietal differences depending on the storage temperatures. Comparative high isoflavone content was obtained at storage temperatures of $6^{\circ}C$ and $20^{\circ}C$ while most of varieties showed low isoflavone content at $9^{\circ}C$ and $30^{\circ}C$. No constant trend in isoflavone content for the tested varieties along with the days to storage but most of varieties showed the highest isoflavone content in 3 days of storage. On the contrary, Aga 4 and Jangkikong showed high isoflavone content even at 5 days of storage. The comparatively high isoflavone content for 4 varieties including of Aga 3 out of 8 varieties was obtained from the treatment of one day storage at $20^{\circ}C$. Out of all treatments, the highest isoflavone content was obtained from one day storage at $20^{\circ}C$ for Aga 3 and the content was as high as $11,705{\mu}g/g$. In this experiment, soy-sprouts were believed to be made continuous growth during the storage because the sprouts were being dipped in water during the temperature treatment to protect soy-sprouts from drying. Thus, it is inferred that additional researches should be made to establish better method to increase isoflavone content in soy-sprouts during the storage.

• The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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• v.28 no.1
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• pp.1-18
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• 2023

The East Sea, one of the regions where the most rapid warming is occurring, is known to have important implications for the response of the ocean to future climate changes because it not only reacts sensitively to climate change but also has a much shorter turnover time (hundreds of years) than the ocean (thousands of years). However, the processes underlying changes in seawater characteristics at the sea's deep and abyssal layers, and meridional overturning circulation have recently been examined only after international cooperative observation programs for the entire sea allowed in-situ data in a necessary resolution and accuracy along with recent improvement in numerical modeling. In this review, previous studies on the physical characteristics of seawater at deeper parts of the East Sea, and meridional overturning circulation are summarized to identify any remaining issues. The seawater below a depth of several hundreds of meters in the East Sea has been identified as the Japan Sea Proper Water (East Sea Proper Water) due to its homogeneous physical properties of a water temperature below 1℃ and practical salinity values ranging from 34.0 to 34.1. However, vertically high-resolution salinity and dissolved oxygen observations since the 1990s enabled us to separate the water into at least three different water masses (central water, CW; deep water, DW; bottom water, BW). Recent studies have shown that the physical characteristics and boundaries between the three water masses are not constant over time, but have significantly varied over the last few decades in association with time-varying water formation processes, such as convection processes (deep slope convection and open-ocean deep convection) that are linked to the re-circulation of the Tsushima Warm Current, ocean-atmosphere heat and freshwater exchanges, and sea-ice formation in the northern part of the East Sea. The CW, DW, and BW were found to be transported horizontally from the Japan Basin to the Ulleung Basin, from the Ulleung Basin to the Yamato Basin, and from the Yamato Basin to the Japan Basin, respectively, rotating counterclockwise with a shallow depth on the right of its path (consistent with the bottom topographic control of fluid in a rotating Earth). This horizontal deep circulation is a part of the sea's meridional overturning circulation that has undergone changes in the path and intensity. Yet, the linkages between upper and deeper circulation and between the horizontal and meridional overturning circulation are not well understood. Through this review, the remaining issues to be addressed in the future were identified. These issues included a connection between the changing properties of CW, DW, and BW, and their horizontal and overturning circulations; the linkage of deep and abyssal circulations to the upper circulation, including upper water transport from and into the Western Pacific Ocean; and processes underlying the temporal variability in the path and intensity of CW, DW, and BW.

• Journal of the Korean Society of Marine Environment & Safety
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• v.30 no.1
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• pp.13-19
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• 2024

An analysis of the coastal water temperature in the Tongyeong waters, the eastern sea of the South Sea of Korea, revealed that the water temperature rose sharply before the typhoon made landfall. The water temperature rise occurred throughout the entire water column. An analysis of the sea surface temperature data observed by NOAA(National Oceanic and Atmospheric Administration) satellites, indicated that sea water with a temperature of 30℃ existed in the eastern waters of the eastern South Sea of Korea before the typhoon landed. The southeastern sea of Korea is an area where ocean currents prevail from west to east owing to the Tsushima Warm Current. However, an analysis of the satellite data showed that seawater at 30℃ moved from east to west, indicating that it was affected by the Ekman transport caused by the typhoon before landing. In addition, because the eastern waters of the South Sea are not as deep as those of the East Sea, the water temperature of the entire water layer may remain constant owing to vertical mixing caused by the wind. Because the rise in water temperature in each water layer occurred on the same day, the rise in the bottom water temperature can be considered as owing to vertical mixing. Indeed, the southeastern sea of Korea is a sea area where the water temperature can rise rapidly depending on the direction of approach of the typhoon and the location of high temperature formation.

• Journal of Distribution Science
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• v.8 no.3
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• pp.49-56
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• 2010

At the initial stage of Internet advertising, banner advertising came into fashion. As the Internet developed into a central part of daily lives and the competition in the on-line advertising market was getting fierce, there was not enough space for banner advertising, which rushed to portal sites only. All these factors was responsible for an upsurge in advertising prices. Consequently, the high-cost and low-efficiency problems with banner advertising were raised, which led to an emergence of keyword advertising as a new type of Internet advertising to replace its predecessor. In the beginning of 2000s, when Internet advertising came to be activated, display advertisement including banner advertising dominated the Net. However, display advertising showed signs of gradual decline, and registered minus growth in the year 2009, whereas keyword advertising showed rapid growth and started to outdo display advertising as of the year 2005. Keyword advertising refers to the advertising technique that exposes relevant advertisements on the top of research sites when one searches for a keyword. Instead of exposing advertisements to unspecified individuals like banner advertising, keyword advertising, or targeted advertising technique, shows advertisements only when customers search for a desired keyword so that only highly prospective customers are given a chance to see them. In this context, it is also referred to as search advertising. It is regarded as more aggressive advertising with a high hit rate than previous advertising in that, instead of the seller discovering customers and running an advertisement for them like TV, radios or banner advertising, it exposes advertisements to visiting customers. Keyword advertising makes it possible for a company to seek publicity on line simply by making use of a single word and to achieve a maximum of efficiency at a minimum cost. The strong point of keyword advertising is that customers are allowed to directly contact the products in question through its more efficient advertising when compared to the advertisements of mass media such as TV and radio, etc. The weak point of keyword advertising is that a company should have its advertisement registered on each and every portal site and finds it hard to exercise substantial supervision over its advertisement, there being a possibility of its advertising expenses exceeding its profits. Keyword advertising severs as the most appropriate methods of advertising for the sales and publicity of small and medium enterprises which are in need of a maximum of advertising effect at a low advertising cost. At present, keyword advertising is divided into CPC advertising and CPM advertising. The former is known as the most efficient technique, which is also referred to as advertising based on the meter rate system; A company is supposed to pay for the number of clicks on a searched keyword which users have searched. This is representatively adopted by Overture, Google's Adwords, Naver's Clickchoice, and Daum's Clicks, etc. CPM advertising is dependent upon the flat rate payment system, making a company pay for its advertisement on the basis of the number of exposure, not on the basis of the number of clicks. This method fixes a price for advertisement on the basis of 1,000-time exposure, and is mainly adopted by Naver's Timechoice, Daum's Speciallink, and Nate's Speedup, etc, At present, the CPC method is most frequently adopted. The weak point of the CPC method is that advertising cost can rise through constant clicks from the same IP. If a company makes good use of strategies for maximizing the strong points of keyword advertising and complementing its weak points, it is highly likely to turn its visitors into prospective customers. Accordingly, an advertiser should make an analysis of customers' behavior and approach them in a variety of ways, trying hard to find out what they want. With this in mind, her or she has to put multiple keywords into use when running for ads. When he or she first runs an ad, he or she should first give priority to which keyword to select. The advertiser should consider how many individuals using a search engine will click the keyword in question and how much money he or she has to pay for the advertisement. As the popular keywords that the users of search engines are frequently using are expensive in terms of a unit cost per click, the advertisers without much money for advertising at the initial phrase should pay attention to detailed keywords suitable to their budget. Detailed keywords are also referred to as peripheral keywords or extension keywords, which can be called a combination of major keywords. Most keywords are in the form of texts. The biggest strong point of text-based advertising is that it looks like search results, causing little antipathy to it. But it fails to attract much attention because of the fact that most keyword advertising is in the form of texts. Image-embedded advertising is easy to notice due to images, but it is exposed on the lower part of a web page and regarded as an advertisement, which leads to a low click through rate. However, its strong point is that its prices are lower than those of text-based advertising. If a company owns a logo or a product that is easy enough for people to recognize, the company is well advised to make good use of image-embedded advertising so as to attract Internet users' attention. Advertisers should make an analysis of their logos and examine customers' responses based on the events of sites in question and the composition of products as a vehicle for monitoring their behavior in detail. Besides, keyword advertising allows them to analyze the advertising effects of exposed keywords through the analysis of logos. The logo analysis refers to a close analysis of the current situation of a site by making an analysis of information about visitors on the basis of the analysis of the number of visitors and page view, and that of cookie values. It is in the log files generated through each Web server that a user's IP, used pages, the time when he or she uses it, and cookie values are stored. The log files contain a huge amount of data. As it is almost impossible to make a direct analysis of these log files, one is supposed to make an analysis of them by using solutions for a log analysis. The generic information that can be extracted from tools for each logo analysis includes the number of viewing the total pages, the number of average page view per day, the number of basic page view, the number of page view per visit, the total number of hits, the number of average hits per day, the number of hits per visit, the number of visits, the number of average visits per day, the net number of visitors, average visitors per day, one-time visitors, visitors who have come more than twice, and average using hours, etc. These sites are deemed to be useful for utilizing data for the analysis of the situation and current status of rival companies as well as benchmarking. As keyword advertising exposes advertisements exclusively on search-result pages, competition among advertisers attempting to preoccupy popular keywords is very fierce. Some portal sites keep on giving priority to the existing advertisers, whereas others provide chances to purchase keywords in question to all the advertisers after the advertising contract is over. If an advertiser tries to rely on keywords sensitive to seasons and timeliness in case of sites providing priority to the established advertisers, he or she may as well make a purchase of a vacant place for advertising lest he or she should miss appropriate timing for advertising. However, Naver doesn't provide priority to the existing advertisers as far as all the keyword advertisements are concerned. In this case, one can preoccupy keywords if he or she enters into a contract after confirming the contract period for advertising. This study is designed to take a look at marketing for keyword advertising and to present effective strategies for keyword advertising marketing. At present, the Korean CPC advertising market is virtually monopolized by Overture. Its strong points are that Overture is based on the CPC charging model and that advertisements are registered on the top of the most representative portal sites in Korea. These advantages serve as the most appropriate medium for small and medium enterprises to use. However, the CPC method of Overture has its weak points, too. That is, the CPC method is not the only perfect advertising model among the search advertisements in the on-line market. So it is absolutely necessary that small and medium enterprises including independent shopping malls should complement the weaknesses of the CPC method and make good use of strategies for maximizing its strengths so as to increase their sales and to create a point of contact with customers.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.32 no.2
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• pp.27-41
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• 2014

This study aims to investigate the history, cultural values prototype through literature analysis, characteristics of construction, location, space structure and landscape characteristics by Arc-GIS on the Munam pavilion(聞巖亭) in Changnyeong. The results were as follows. First, Shin-cho((辛礎, 1549~1618) is the builder of the Munam pavilion and builder's view of nature is to go back to nature. The period of formation of Munam pavilion is between 1608-1618 as referred from document of retire from politics and build a pavilion. Secondly, Munam pavilion is surrounded by mountains and located at the top of steep slope. Pavilion was known as scenic site of the area. But damaged in a past landscape is caused by near the bridge, agricultural facilities, town, the Kye-sung stream of masonry and beams. Thirdly, Munam pavilion is divided into the main space, which is located on the pavilion, space in located on the pavilion east and west and the orient space, which is located on the Youngjeonggak. Of these, original form of Munam pavilion is a simple structure composed of pavilion and Munam rock, thus at the time of the composition seems to be a direct entry is possible, unlike the current entrance. Fourth, Spatial composition of Munam pavilion is divided into vegetation such as Lagerstroemia indica trees in Sa-ri in Changnyeong, ornament such as letters carved on the rocks and pavilion containing structure. The vegetation around the building is classified as precincts and outside of the premises. Planting of precincts was limited. Outside of area consists of front on the pavilion, which is covered with Lagerstroemia Indica forest and Pinus densiflora forest at the back of the pavilion. Ofthese,LargeLagerstroemiaIndicaforestcorrespondstothenaturalheritageasHistoricalrecordsofrarespeciesresourcesthatareassociated withbuilder. Letterscarvedontherocksrepresenttheboundaryof space, which is close to the location of the Munam pavilion and those associated with the builder as ornaments. Letters carved on the rocks front on the pavilion are rare cases that are made sequentially with a constant direction and rules as act of record for families to honor the achievements. Fifth, 'The eight famous spots of Munam' is divided into landscape elements that have nothing to do with bearing 4 places and landscape elements that have to do with bearing 4 places. Unrelated bearings of landscape elements are Lagerstroemia indica trees in Sa-ri in Changnyeong, Pinus densiflora forest at the back of the pavilion, Okcheon valley, Gwanryongsa temple and Daeheungsa temple. Bearing that related element of absolute orientation, which is corresponding to the elements are Daeheungsa temple, Hwawangsan mountain, Kye-sung stream and Yeongchwisan mountain. Relative bearing is Gwanryongsa temple, Yeongchwisan mountain and Kye-sung stream Gongjigi hill. At Lagerstroemia indica trees in Sa-ri in Changnyeong, Pinus densiflora forest at the back of the pavilion, Kye-sung stream and Okcheon valley, elements are exsting. Currently, it is difficult to confirm the rest of the landscape elements. Because, it is a generic element that reliable estimate of the target and locations are impossible for element. Munam pavilion is made for turn to nature by Shin-cho(辛礎). That was remained a record such as Munamzip(聞巖集) and Munamchungueirok(聞巖忠義錄) that is relating to construction of pavilion. Munam pavilion located in a unique form, archival culture through the letters carved on the rocks and Large Lagerstroemia indica forest and through eight famous spots, cultural landscape elements can be assumed that those elements are remained.

• KDI Journal of Economic Policy
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• v.14 no.2
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• pp.109-153
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• 1992

This paper estimates a translog cost function for the Korea's banking industry and derives various implications on the prospect for the Korean banking structure in the future based on the estimated efficiency indicators for the banking sector. The Korean banking industry is permitted to operate trust business to the full extent and the security business to a limited extent, while it is formally subjected to the strict, specialized banking system. Security underwriting and investment businesses are allowed in a very limited extent only for stocks and bonds of maturity longer than three year and only up to 100 percent of the bank paid-in capital. Until the end of 1991, the ceiling was only up to 25 percent of the total balance of the demand deposits. However, they are prohibited from the security brokerage business. While the in-house integration of security businesses with the traditional business of deposit and commercial lending is restrictively regulated as such, Korean banks can enter the security business by establishing subsidiaries in the industry. This paper, therefore, estimates the efficiency indicators as well as the cost functions, identifying the in-house integrated trust business and security investment business as important banking activities, for various cases where both the production and the intermediation function approaches in modelling the financial intermediaries are separately applied, and the banking businesses of deposit, lending and security investment as one group and the trust businesses as another group are separately and integrally analyzed. The estimation results of the efficiency indicators for various cases are summarized in Table 1 and Table 2. First, security businesses exhibit economies of scale but also economies of scope with traditional banking activities, which implies that in-house integration of the banking and security businesses may not be a nonoptimal banking structure. Therefore, this result further implies that the transformation of Korea's banking system from the current, specialized system to the universal banking system will not impede the improvement of the banking industry's efficiency. Second, the lending businesses turn out to be subjected to diseconomies of scale, while exhibiting unclear evidence for economies of scope. In sum, it implies potential efficiency gain of the continued in-house integration of the lending activity. Third, the continued integration of the trust businesses seems to contribute to improving the efficiency of the banking businesses, since the trust businesses exhibit economies of scope. Fourth, deposit services and fee-based activities, such as foreign exchange and credit card businesses, exhibit economies of scale but constant returns to scope, which implies, the possibility of separating those businesses from other banking and trust activities. The recent trend of the credit card business being operated separately from other banking activities by an independent identity in Korea as well as in the global banking market seems to be consistent with this finding. Then, how can the possibility of separating deposit services from the remaining activities be interpreted? If one insists a strict definition of commercial banking that is confined to deposit and commercial lending activities, separating the deposit service will suggest a resolution or a disappearance of banking, itself. Recently, however, there has been a suggestion that separating banks' deposit and lending activities by allowing a depository institution which specialize in deposit taking and investing deposit fund only in the safest securities such as government securities to administer the deposit activity will alleviate the risk of a bank run. This method, in turn, will help improve the safety of the payment system (Robert E. Litan, What should Banks Do? Washington, D.C., The Brookings Institution, 1987). In this context, the possibility of separating the deposit activity will imply that a new type of depository institution will arise naturally without contradicting the efficiency of the banking businesses, as the size of the banking market grows in the future. Moreover, it is also interesting to see additional evidences confirming this statement that deposit taking and security business are cost complementarity but deposit taking and lending businesses are cost substitute (see Table 2 for cost complementarity relationship in Korea's banking industry). Finally, it has been observed that the Korea's banking industry is lacking in the characteristics of natural monopoly. Therefore, it may not be optimal to encourage the merger and acquisition in the banking industry only for the purpose of improving the efficiency.