• KDI Journal of Economic Policy
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• v.36 no.4
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• pp.135-169
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• 2014

This study empirically analyzes changes in production patterns of farmers by agricultural disaster insurance. The aim of this project is to achieve stability of farm management by paying insurance in case of a natural disaster. However, it causes farmers to change production patterns in the direction of increasing production, and leads the crop price to drop. This can be explained by producers' risk reduction through the disaster insurance. The empirical analysis is based on IV approach with using two stage least squares method. The first stage estimates by difference-in-differences methodology indicate that the production of insurable crops increases more about 80,000ton on average than that of non-insurable crops. In addition, to solve the endogeneity problem caused by general supply and demand model, I use the first stage estimates and find that the price index of the crops drops about 2.3% according to the production increase by 10,000ton. The credibility of these results is also attained by various robustness checks. These findings suggest that it is necessary for government to analyze the whole economy which consists of producer and consumer welfare when it determines the policy. Besides, it implies that it is essential to develop a new market to cope with the unintended effect.

• Toxicological Research
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• v.24 no.1
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• pp.87-91
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• 2008

The present study was conducted to monitor the level of triflumizole residues in fruits (apple and pear) and vegetable (cucumber) samples in order to assess risk posed by the presence of such residues to the consumer. Triflumizole was applied at a recommended dose rate to apple and pear pulps and to a cucumber sample. The samples were collected at harvesting time following several treatments (three and/or four treatments). Triflumizole was extracted with methanol and re-extracted into dichloromethane. The presence of triflumizole was determined by HPLC with UV detection at 238 nm following the cleanup of the extract by open preparative chromatographic column with Florisil. The versatility of this method was evidenced by its excellent linearity (> 0.999) in the concentration range between 0.2 and 4.0 mg/kg. The mean recoveries evaluated from the untreated samples spiked at two different fortification levels. 0.1 and 0.4 mg/kg, and ranged from 87.5${\pm}$0.0 to 93.3${\pm}$2.6 for the tested fruits and vegetable, respectively, and the repeatability (as relative standard deviation) from three repetitive determinations of recoveries were no larger than 6%. The calculated limit of detection was 0.02 mg/kg and the minimum detectable level of 4 ng for triflumizole was easily detected. When triflumizole was sprayed onto the apple trees three times at 50-40-30 and 40-30-21 days prior to harvesting and four times onto the pear trees at 40-30-21-14 days prior to harvesting, the mean residual amounts of 0.05 and 0.06 mg/kg for apples and pears, respectively, were not detected in all of the treatments. When the cucumber sample was fumigated four times at 7, 5, 3 and 1 day prior to harvesting, the mean residual amount was not detectable. Triflumizole can be used safely when sprayed (wettable powder, 30% active ingredient) and fumigated (10%) 4 times at 14 and 1 day prior to harvesting to protect the fruits and vegetable, respectively.

• Korean Journal of Construction Engineering and Management
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• v.6 no.3 s.25
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• pp.144-155
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• 2005

Since 1950s, the Korean housing market has continually experienced the chronicle lack of housing stock because of lower housing investment in comparison with a population explosion, prompt urbanization and rapid restructuring of family. The Korean housing market have thus been driven not by the pricing model by housing demand-supply chain but by the Korean housing policies focusing on the increase of housing supply and the living stability of the middle or low-income bracket. After all, repetitive economic vicious circle of housing price and the increase of unsold apartments aggravated the malfunction of the Korean housing market. Meanwhile, the Korean construction firms have exacerbated their profitability. Such terrible situations are mainly triggered by the Korean construction firms that weighed on the short-term profits and quick response of the government policy alterations rather than the prospect of housing market Therefore, this research focusing on the dynamics of housing market identified and classified the demand and supply elements that consist not only of housing system structures but also of the environmental elements that affect the structures. Based on the system thinking and traditional theory of consumer's choice, the interactions of these elements were constructed as a causal loop diagram that explains the mutual influences among housing subsystems with feedback loops. This paper describes and discusses about the causes of the dynamic changes in the Korean housing market. This study would help housing suppliers, including housing developers, construction firms, etc., to form a more comprehensive understanding on the fundamental issues that constitute the Korean housing market and thereby increasing their long term as well as minimizing the risk involved in the housing supply businesses.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.55
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• pp.209-240
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• 2012

Since the age of Lord Mansfield, who laid the foundation of the modern English insurance contract law in the second part of the 18th century, English insurance law has developed a unique rule of warranty. Lord Mansfield adopted very different approach and afforded such a strict legal character to insurance warranty, because the promise, given by the insured, played an important role for the insurer to assess the scope of the risk insured at that time. It is still important that the insured keep his promises strictly to the insurer under the insurance contract, but legal environments have changed dramatically since the times of Lord Mansfield. English Law Commission proposed some proposals for reforming the warranty regime to reflect the changes of legal environment in CP 2007. This article is, therefore, designed to examine the proposals and consider their legal and practical implications. The proposals of Law Commission is summarized as following. First, in CP 2007, Law Commission made two principal proposals for reform of the law on warranty. The first is that the insurer should not be entitled to rely on a breach of warranty unless the insured has been provided with a witten statement of what they have undertaken under warranty. The second is that the insurer should not be entitled to reject a claim on the ground that the insured has breached a warranty unless there was a causal connection between the breach and the loss. Secondly, for consumer insurance, the rule requiring a causal connection would be mandatory, whereas for business insurance, it would be possible for the parties to agree on the effect a breach of warranty should have, provided they use clear language to express their intentions. Thirdly, where the insured contracted on the insurer's written standard terms of business, some statutory controls would be afforded to the contract to ensure that the cover was not substantially different from what the insured reasonably expected. Finally, Law Commission propose that a breach of warranty give the insurer the right to terminate the contract, rather than automatically discharging it from liability, but (unless otherwise agreed) only if the breach has sufficiently serious consequences to justify termination under the general law of contract. Having evaluated the proposals of the Law Commission and considered their legal and practical implications, it is quite clear that the proposed rule interfere with freedom of contract and create legal uncertainty. But change can not made without any victims, so Law Commission's attempt to change severe and injust aspects of the warranty regime would be very welcomed and respected.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.7
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• pp.577-582
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• 2020

Electricity produced at power plants is distributed to consumers through several stages of substations. At this time, an ultra-high voltage transformer is needed in the initial transmission stage to transmit a voltage suitable for each consumer. A high voltage, non-uniform electric field is formed at the end of the winding of the ultra-high voltage transformer, which carries a risk of dielectric breakdown. The winding of the ultra-high voltage transformer is an electrode, which is the key to converting the magnitude of the voltage. A non-uniform electric field is formed along the shape of the winding end, resulting in high electrical stress. The static ring installed at the upper and lower ends of the winding is used to disperse the stress at the winding end. Several variables should be considered when designing a static ring. Among them, this study examined how the curvature of the static ring, the thickness of the insulating paper, the number of barriers, and barrier thickness affect the electrical stress of the static ring using the Finite Element Method. Suggestions to be considered when designing the static ring are proposed through the FEM results.

• The Journal of the Korea Contents Association
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• v.18 no.4
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• pp.416-427
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• 2018

As the loan size of real estate PF is huge, its market ripple effect gets bigger when overdue occurs. Accordingly, the management of the delinquency rate and macroeconomic analysis are required. As the preceding research mainly proceeded with microeconomic analysis through the real estate PF data of individual banks to evaluate importance of list or analyzed core factors for delinquency, it lacked research on comprehensive real estate PF size. In order to overcome the limitations of such data, this research studied real estate PF delinquency rate of the entire market and effect relationship by the size. The research utilized the size of real estate PF loans, money supply, interest rate, consumer price index(CPI), and GDP data. Also, it applied the first model of VECM as linear relationship between at least two or more variables, following the result of co-integration test. As a result of Granger-causality test, the real estate PF loans delinquency rate is influenced by their loan size, and as a result of impulse response analysis, the interest rate is shown to be affecting delinquency rate the most. Interest rate could risesomeday and aggravate the delinquency rate of real estate PF. Also, risk exposure could be serious as the loan size increases.Therefore, the management of real estate PF delinquency rate requires continuous monitoring, tracking and observing issued loans from a macro point of view. The plans to prevent delinquency will be necessary.

• Journal of Distribution Research
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• v.6 no.2
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• pp.19-40
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• 2002

According to the secondary data, private brand(PB)'s share of retail sales is 25-30% in the USA, but about 45 in Korea. In Korea PB's average price is 23.3% less than manufacturer brand. It is very interest that PB's price advantage doesn't have a good effect on it's share of retail sales. This research's objective is to study why Korean consumers don't purchase private brand cheaper than manufacturer brand. A theoretical reasoning depends on information cue theory and means-ends model of perceived value. A unit of analysis is consumers who purchase private brand at E-mart in Pusan city, one of largest discount store in Korea. Hypothesis tested by Lisrel's structural equation model and interesting results as follows: First, favorable brand image among extrinsic cues is most positively correlated with perceived quality/sacrifice and intrinsic cues is also statistically significant. This fact imply that intrinsic cues; package, logo, country of origin are very important in the adoption of private brand in Korea. Second, compared with manufacturer's brand, PB's perceived price is positively correlated with perceived quality/sacrifice. This fact imply a assimilation effect between manufacturer's brand and private brand. Finally, a correlation between perceived sacrifice and PB proneness is satistically insignificant, but perceived quality has a significant effect on its proneness. this fact imply that innovators(about 4% of potential consumer) are risk-taker.

• The Journal of the Korean life insurance medical association
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• v.24
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• pp.97-117
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• 2005

Internally Korean insurance market is that whole life products' growth are becoming slowdown that's why new insurance products have appeared on the market in consideration of consumer's needs recently. Externally domestic insurance market competitions has drifted from insurance industry to whole financial industry since bankasurance started. Life insurance companies should open up a new market to survive from severe competitions. Worksite marketing can be an alternative. An insurer make arrangements with an employer about an insurance terms which an insurer offers in Worksite marketing. Then eligible individuals enroll in the plans at their own discretion and pay 100 percent of the premium for coverage through payroll deductions. An employer doesn't need to pay extra money for additional benefit but can raise employee's loyalty and satisfaction of company through worksite marketing. An employee can be covered at discounted premium rate and less strict underwriting guidelines to an insurer compared to individual insurance. In developed countries specially U.S insurance market, Worksite marketing is getting very popular and growing rapidly due to the advantages. Worksite marketing has both individual insurance characters and group insurance characters. Individual insurance characters are that employees enroll in the plans at their own discretion and pay 100 percent of the premium for coverage. Group insurance characters are that actively at work and participation etc. An insurer have to reflect these two characters on Worksite marketing when an insurance company work out a plan for developing products and underwriting guidelines. When an insurer devise worksite products, one should consider participation level which means percentage of eligible employees participating. Participation is related to anti-selection. As we know underwriting is essential for every kind of insurance, especially underwriting plays major role in worksite marketing. We can see that in the below. Firstly, it has a function in calculation of premium rate. When calculate premium rate for worksite products underwriters have to estimate expected participation level and risk factors. So underwriters and acturies keep in close contact with each other. Secondly, underwriting methods are important. When an insurer underwrite worksite products, there are three kinds of underwriting methods. These are Simplified issue underwriting, Full underwriting and Guaranteed issue underwriting. Simplified issue underwriting typically requires no medical examination, but usually requires supplying satisfactory answers to one or several health and/or lifestyle questions. Full underwriting requires a complete medical history questionnaire that may further require an exam. Guaranteed issue underwriting means that coverage is issued without the employee having to provide evidence of insurability. When insurer set the GI limit are usually based on the type of industry, number of eligible employees, the average amount of coverage and participation level. In addition to insurer should have a clear definition of eligible employee on the insurance provision and application form. It will minimize possibility of trouble claims and anti-selection. An insurer also establish preexisting condition exclusion and special guidelines for late entrants. When an insurer introduce Worksite marketing to Korean insurance market, an insurer has to examine market research to analyze potential market and strategy of sales most of all. Also an insurer should review real situation of the U.S, England and Japanese market etc. There are a lot of new technologies about worksite marketing process that an insurer should learn. When an insurer consider many things which we explained it can be a real alternative.

• Journal of Wetlands Research
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• v.13 no.1
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• pp.1-11
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• 2011

A chronic drought stress has been imposed during non-rainy season(from winter to spring) since 1990s. We faced the most significant water crisis in 2001, and the drought was characterized by sultry weather and severe drought on a national scale. It has been widely acknowledged that the drought related damage is 2-3 times serious than floods. In the list of the world's largest natural disaster compiled by NOAA, 4 of the top 5 disasters are droughts. And according to the analysis from the NDMC report, the drought has the highest annual average damage among all the disasters. There was a very serious impact on the economic such as rising consumer price during the 2001 spring drought in Korea. There has been flood prevention measures implemented at national-level but for mitigation of droughts, there are only plans aimed at emergency (short-term) restoration rather than the comprehensive preventive measures. In addition, there is a lack of a clear set of indicators to express drought situation objectively, and therefore it is important and urgent to begin a systematic study. In this study, a nonstationary downscaling model using RCM based climate change scenario was first applied to simulate precipitation, and the simulated precipitation data was used to derive Standardized Precipitation Index (SPI). The SPI under climate change was used to evaluate the spatio-temporal variability of drought through principal component analysis at three different time scales which are 2015, 2045 and 2075. It was found that spatio-temporal variability is likely to modulate with climate change.

• Journal of Distribution Research
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• v.12 no.3
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• pp.69-90
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• 2007

This study is set out to investigate the factors that influence customers' behavior of choice and switching between online and offline channels, separating the purchase decision into two stages, i.e., information search and purchase. Factors influencing channel choice are found to differ from stage to stage. The main results of this study are as follows. At the information search stage, customers' channel knowledge had impacts on the choice of the channel. Customers are more likely to visit offline bookstores when they have hedonic shopping orientation and higher involvement level with books. On the contrary, customers are more apt to search online when they have a lot of online shopping experiences. At the purchase stage, the results varied according to the search channel. When customers search for information online, the following variables lead to online purchases: online shopping experiences with books, price-focused shopping orientation, and time availability for shopping. Perceived risk made customers purchase offline even though they searched online. In case of offline searching, customers with more convenience-focused, hedonic-focused shopping orientation and less tim availability purchased offline.