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THE FOREIGN EXCHANGE RATE UNDER RATIONAL EXPECTATION (이성적(理性的) 기대하(期待下)의 환율행태분석(換率行態分析))

  • Yu, Il-Seong
    • The Korean Journal of Financial Management
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    • v.6 no.1
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    • pp.31-62
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    • 1989
  • By using deterministic dynamic models, we observe the behavior of the foreign exchange rate of a small open economy with rational expectation formation and different restrictions on the international economic integrations. First, an economy connected to the world by purchasing power parity and uncovered interest parity is studied in the next section. In both sections, financial assets available in the economy are domestic money and bonds. Stocks are added as a financial instrument in the next section, and real capital accumulation is also taken into account. Furthermore, the economy concerned there is fairly autonomous, and not directly governed by either purchasing power parity or uncovered interest parity. The expectation formation used throughout the whole paper is complete perfect foresight, which is the certainty version of rational expectation and free from any forecast errors. It is found that upon monetary expansion the short run depreciation of the foreign exchange rate is a fairly robust result regardless of the degree of the international economic integration, while it is not true for fiscal expansion. The expectation on the long run state significantly affects the short run response of the exchange rate. All of our models postulate that the current account should be balanced eventually. As the result, the short run behavior of the exchange rate is affected by the expectation on the long run balance and may well be a blend of the traditional flow view and modem asset view. The initial overshooting of the exchange rate is easily observed even in the fairly autonomous economy Furthermore, the initial overshooting is not reduced over time, but augmented for some time before it is eventually eliminated. As long as we maintain rational expectaion, introducing time delay in the adjustment of the foreign goods price to the foreign exchange rate does not make much difference.

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The Effect of Patent Citation Relationship on Business Performance : A Social Network Analysis Perspective (특허 인용 관계가 기업 성과에 미치는 영향 : 소셜네트워크분석 관점)

  • Park, Jun Hyung;Kwahk, Kee-Young
    • Journal of Intelligence and Information Systems
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    • v.19 no.3
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    • pp.127-139
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    • 2013
  • With an advent of recent knowledge-based society, the interest in intellectual property has increased. Firms have tired to result in productive outcomes through continuous innovative activity. Especially, ICT firms which lead high-tech industry have tried to manage intellectual property more systematically. Firm's interest in the patent has increased in order to manage the innovative activity and Knowledge property. The patent involves not only simple information but also important values as information of technology, management and right. Moreover, as the patent has the detailed contents regarding technology development activity, it is regarded as valuable data. The patent which reflects technology spread and research outcomes and business performances are closely interrelated as the patent is considered as a significant the level of firm's innovation. As the patent information which represents companies' intellectual capital is accumulated continuously, it has become possible to do quantitative analysis. The advantages of patent in the related industry information and it's standardize information can be easily obtained. Through the patent, the flow of knowledge can be determined. The patent information can analyze in various levels from patent to nation. The patent information is used to analyze technical status and the effects on performance. The patent which has a high frequency of citation refers to having high technological values. Analyzing the patent information contains both citation index analysis using the number of citation and network analysis using citation relationship. Network analysis can provide the information on the flows of knowledge and technological changes, and it can show future research direction. Studies using the patent citation analysis vary academically and practically. For the citation index research, studies to analyze influential big patent has been conducted, and for the network analysis research, studies to find out the flows of technology in a certain industry has been conducted. Social network analysis is applied not only in the sociology, but also in a field of management consulting and company's knowledge management. Research of how the company's network position has an impact on business performances has been conducted from various aspects in a field of network analysis. Social network analysis can be based on the visual forms. Network indicators are available through the quantitative analysis. Social network analysis is used when analyzing outcomes in terms of the position of network. Social network analysis focuses largely on centrality and structural holes. Centrality indicates that actors having central positions among other actors have an advantage to exert stronger influence for exchange relationship. Degree centrality, betweenness centrality and closeness centrality are used for centrality analysis. Structural holes refer to an empty place in social structure and are defined as efficiency and constraints. This study stresses and analyzes firms' network in terms of the patent and how network characteristics have an influence on business performances. For the purpose of doing this, seventy-four ICT companies listed in S&P500 are chosen for the sample. UCINET6 is used to analyze the network structural characteristics such as outdegree centrality, betweenness centrality and efficiency. Then, regression analysis test is conducted to find out how these network characteristics are related to business performance. It is found that each network index has significant impacts on net income, i.e. business performance. However, it is found that efficiency is negatively associated with business performance. As the efficiency increases, net income decreases and it has a negative impact on business performances. Furthermore, it is shown that betweenness centrality solely has statistically significance for the multiple regression analysis with three network indexes. The patent citation network analysis shows the flows of knowledge between firms, and it can be expected to contribute to company's management strategies by analyzing company's network structural positions.

Optimization of Protocol for Injection of Iodinated Contrast Medium in Pediatric Thoracic CT Examination (소아 흉부 CT검사에서 조영제 주입에 관한 프로토콜의 최적화)

  • Kim, Yung-Kyoon;Kim, Yon-Min
    • Journal of the Korean Society of Radiology
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    • v.13 no.6
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    • pp.879-887
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    • 2019
  • The purpose of this study is to establish a physiological injection protocol according to body weight, in order to minimize amount of contrast medium and optimize contrast enhancement in pediatric patients performing thoracic CT examinations. The 80 pediatric patients under the age of 10 were studied. Intravenous contrast material containing 300 mgI/ml was used. The group A injected with a capacity of 1.5 times its weight, and groups B, C and D added 5 to 15 ml of normal saline with a 10% decrease in each. The physiologic model which can be calculated by weight about amount of injection of contrast medium and normal saline, flow rate and delay time were applied. To assess image quality, measured average HU value and SNR of superior vena cava, pulmonary artery, ascending and descending aorta, right and left atrium, right and left ventricle. CT numbers of subclavian vein and superior vena cava were compared to identify the effects of reducing artifacts due to normal saline. Comparing SNR according to the contrast medium injection protocol, significant differences were found in superior vena cava and pulmonary artery, descending aorta, right and left ventricle, and CT numbers showed significant differences in all organs. In particular, B group with a 10% decrease in contrast medium and an additional injection of saline showed a low degree of contrast enhancement in groups with a decrease of more than 20%. In addition, the group injected with normal saline greatly reduced contrast enhancement of subclavian vein and superior vena cava, and the beam hardening artifact by contrast medium was significantly attenuated. In conclusion, the application of physiological protocol for injection of contrast medium in pediatric thoracic CT examinations was able to reduce artifacts by contrast medium, prevent unnecessary use of contrast medium and improve the effect of contrast enhancement.

Site Competition of Ca2+ and Cs+ Ions in the Framework of Zeolite Y (Si/Al = 1.56) and Their Crystallographic Studies (제올라이트 Y (Si/Al = 1.56) 골격 내의 Ca2+과 Cs+ 이온의 자리 경쟁 및 그들의 결정학적 연구)

  • Kim, Hu Sik;Park, Jong Sam;Lim, Woo Taik
    • Journal of the Mineralogical Society of Korea
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    • v.31 no.4
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    • pp.235-248
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    • 2018
  • The present work was performed in order to study the effect of competing cation of $Ca^{2+}$ ion on ion exchange of $Cs^+$ on zeolite Y (Si/Al = 1.56). Three single-crystals of fully dehydrated and partially $Cs^+$-exchanged zeolites Y (Si/Al = 1.56) were prepared by the flow method using mixed ion-exchange solutions. The $CsNO_3:Ca(NO_3)_2$ molar ratios of the ion exchange solution were 1 : 1 (crystal 1), 1 : 100 (crystal 2), and 1 : 250 (crystal 3) with a total concentration of 0.05 M. The single-crystals were then vacuum dehydrated at 723 K and $1{\times}10^{-4}Pa$ for 2 days. The structures of the crystals were determined by single-crystal synchrotron X-ray diffraction technique in the cubic space group $Fd{\bar{3}}m$, at 100(1) K. The unit-cell formulas of crystals 1, 2, and 3 were ${\mid}Cs_{21}Ca_{27}{\mid}[Si_{117}Al_{75}O_{384}]-FAU$, ${\mid}Cs_2Ca_{36.5}{\mid}[Si_{117}Al_{75}O_{384}]-FAU$, and ${\mid}Cs_1Ca_{37}{\mid}[Si_{117}Al_{75}O_{384}]-FAU$, respectively. In all three crystals, the $Ca^{2+}$ ions preferred to occupy site I in the D6Rs, with the remainder occupying sites I', II', and II. On the other hand, the significant differences in the fractional distribution of $Cs^+$ ions are observed depending on the intial $Cs^+$ concentrations in given ion exchange solution. In Crystal 1, $Cs^+$ ion are located at sites II', II, III, and III', and in crystal 2, at sites II, IIIa, and IIIb. In crystal 3, $Cs^+$ ions are only located at sites IIIa and IIIb. The degree of $Cs^+$ ion exchange decreased sharply from 28.0 to 2.7 to 1.3 % as the initial $Ca^{2+}$ concentration increases and the $Cs^+$ content decreases.

Development of the forecasting model for import volume by item of major countries based on economic, industrial structural and cultural factors: Focusing on the cultural factors of Korea (경제적, 산업구조적, 문화적 요인을 기반으로 한 주요 국가의 한국 품목별 수입액 예측 모형 개발: 한국의, 한국에 대한 문화적 요인을 중심으로)

  • Jun, Seung-pyo;Seo, Bong-Goon;Park, Do-Hyung
    • Journal of Intelligence and Information Systems
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    • v.27 no.4
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    • pp.23-48
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    • 2021
  • The Korean economy has achieved continuous economic growth for the past several decades thanks to the government's export strategy policy. This increase in exports is playing a leading role in driving Korea's economic growth by improving economic efficiency, creating jobs, and promoting technology development. Traditionally, the main factors affecting Korea's exports can be found from two perspectives: economic factors and industrial structural factors. First, economic factors are related to exchange rates and global economic fluctuations. The impact of the exchange rate on Korea's exports depends on the exchange rate level and exchange rate volatility. Global economic fluctuations affect global import demand, which is an absolute factor influencing Korea's exports. Second, industrial structural factors are unique characteristics that occur depending on industries or products, such as slow international division of labor, increased domestic substitution of certain imported goods by China, and changes in overseas production patterns of major export industries. Looking at the most recent studies related to global exchanges, several literatures show the importance of cultural aspects as well as economic and industrial structural factors. Therefore, this study attempted to develop a forecasting model by considering cultural factors along with economic and industrial structural factors in calculating the import volume of each country from Korea. In particular, this study approaches the influence of cultural factors on imports of Korean products from the perspective of PUSH-PULL framework. The PUSH dimension is a perspective that Korea develops and actively promotes its own brand and can be defined as the degree of interest in each country for Korean brands represented by K-POP, K-FOOD, and K-CULTURE. In addition, the PULL dimension is a perspective centered on the cultural and psychological characteristics of the people of each country. This can be defined as how much they are inclined to accept Korean Flow as each country's cultural code represented by the country's governance system, masculinity, risk avoidance, and short-term/long-term orientation. The unique feature of this study is that the proposed final prediction model can be selected based on Design Principles. The design principles we presented are as follows. 1) A model was developed to reflect interest in Korea and cultural characteristics through newly added data sources. 2) It was designed in a practical and convenient way so that the forecast value can be immediately recalled by inputting changes in economic factors, item code and country code. 3) In order to derive theoretically meaningful results, an algorithm was selected that can interpret the relationship between the input and the target variable. This study can suggest meaningful implications from the technical, economic and policy aspects, and is expected to make a meaningful contribution to the export support strategies of small and medium-sized enterprises by using the import forecasting model.

Spatial Distribution and Successional Changes of Riparian Vegetation on Sandbars Exposed after Watergate-Opening of Weirs in the Geumgang River, South Korea (보 개방 후 노출된 금강 모래톱에서 하천 식생의 공간 분포와 천이)

  • Lee, Cheolho;Kim, Hwirae;Cho, Kang-Hyun
    • Ecology and Resilient Infrastructure
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    • v.9 no.3
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    • pp.194-205
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    • 2022
  • Sandbars formed by sediment transportation and sedimentation are some of the most important habitats for specific wildlife and they provide an aesthetic landscape in streams. The purpose of this study was to understand the successional process of the colonization and development of early vegetation over time on sandbars exposed by the opening of a gate at a downstream weir. We selected the following four study sites in the Geumgang River, South Korea: three weir-upstream sites with different gate-opening times and a control site that was not affected by weir operation. Changes in the structural characteristics and spatial distribution of the riparian vegetation on the sandbars exposed after opening the gate at the weir were surveyed according to the different exposure periods of the sandbars at the study sites. The newly formed sandbars accounted for more than 33% of the area of the existing floodplain in the three weir-upstream sites of the Geumgang River after opening the gate at the weir. Nine main plant communities were distributed on the exposed sandbars. These communities were classified as annual mesophytic, perennial hydrophytic, perennial hygrophytic, subtree, and tree vegetation based on their species traits. As the duration of exposure of the sandbar increased, the area of the bare sandbar and the annual herbaceous and perennial hydrophytic communities decreased, and the areas occupied by perennial hygrophytic, subtree, and tree communities increased. Changes in vegetation on the sandbar were classified into three types of succession according to the condition of the aquatic habitat before the gate-opening and the degree of physical disturbance caused by the water flow after the gate-opening. The types of succession were: 1) succession starting from hydrophytes in the lentic aquatic zone, 2) succession starting from annual herbaceous hygrophytes in the lotic aquatic zone, and 3) willow-dominated succession in the disturbed channel side. Our results suggested that the dynamics of successional changes in vegetation should be considered during weir operation to ecologically manage the habitats and landscape of the fluvial landforms, including sandbars in streams.

Predicting the Effects of Agriculture Non-point Sources Best Management Practices (BMPs) on the Stream Water Quality using HSPF (HSPF를 이용한 농업비점오염원 최적관리방안에 따른 수질개선효과 예측)

  • Kyoung-Seok Lee;Dong Hoon Lee;Youngmi Ahn;Joo-Hyon Kang
    • Journal of Wetlands Research
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    • v.25 no.2
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    • pp.99-110
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    • 2023
  • Non-point source (NP) pollutants in an agricultural landuse are discharged from a large area compared to those in other land uses, and thus effective source control measures are needed. To develop appropriate control measures, it is necessary to quantify discharge load of each source and evaluate the degree of water quality improvement by implementing different options of the control measures. This study used Hydrological Simulation Program-FORTRAN (HSPF) to quantify pollutant discharge loads from different sources and effects of different control measures on water quality improvements, thereby supporting decision making in developing appropirate pollutant control strategies. The study area is the Gyeseong river watershed in Changnyeong county, Gyeongsangnam-do, with agricultural areas occupying the largest proportion (26.13%) of the total area except for the forest area. The main pollutant sources include chemical and liquid fertilizers for agricultural activities, and manure produced from small scale livestock facilities and applied to agriculture lands or stacked near the facilities. Source loads of chemical fertilizers, liquid fertilizers and livestock manure of small scale livestock facilities, and point sources such as municipal wastewater treatment plants (WWTPs), community WWTPs, private sewage treament plants were considered in the HSPF model setup. Especially, NITR and PHOS modules were used to simulate detailed fate and transport processes including vegitation uptake, nutrient deposition, adsorption/desorption, and loss by deep percolation. The HSPF model was calibrated and validated based on the observed data from 2015 to 2020 at the outlet of the watershed. The calibrated model showed reasonably good performance in simulating the flow and water quality. Five Pollutants control scenarios were established from three sectors: agriculture pollution management (drainge outlet control, and replacement of controlled release fertilizers), livestock pollution management (liquid fertilizer reduction, and 'manure management of small scale livestock facilities) and private STP management. Each pollutant control measure was further divided into short-term, mid-term, and long-term scenarios based on the potential achievement period. The simulation results showed that the most effective control measure is the replacement of controlled release fertilizers followed by the drainge outlet control and the manure management of small scale livestock facilities. Furthermore, the simulation showed that application of all the control measures in the entire watershed can decrease the annual TN and TP loads at the outlet by 40.6% and 41.1%, respectively, and the annual average concentrations of TN and TP at the outlet by 35.1% and 29.2%, respectively. This study supports decision makers in priotizing different pollutant control measures based on their predicted performance on the water quality improvements in an agriculturally dominated watershed.

A Study of the Relationship between Realistic Expression of Objects and Graphic Novel in Korean Comics - Focused on the work by Kwon, Ga-Ya - (한국만화에 있어 대상의 사실적 표현과 그래픽 노블의 연관관계에 대한 연구 - 권가야의 <남한산성>작품을 중심으로 -)

  • Park, Hee-Bok;Kim, Kwang-Su
    • Cartoon and Animation Studies
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    • s.37
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    • pp.361-392
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    • 2014
  • Regarding works that express objects realistically in painting, Gustave Courbet advocated realism in the mid-19th century, France, resisting the then academist style of painting, and works in realist style were produced in earnest by painters such as H. Daumier or Jean F. Millet, who went along with him. Later, realism has expanded into the realm of general literature, including fine art, which has had profound impacts on works of art and literary works. In comics, too, in the same historical context as a form of painting, realistic comics began to be produced by painters or cartoonists at the time. These realism comics are those dealing with stories based on facts, and in terms of contents, objective description and representation of the social realities of the times is one of the most important objectives, but it could not be concluded that in their visual aspect, that is, that of expressing the objects, they were realistic. In the meantime, a graphic novel was born, which was the intermediate form between comics and novels around the United States and Europe since the 1980s. Graphic novels appeared in forms and styles with strong literary and artistic values in the comics market in the U.S. which was full of the superhero genre (comics around heroes), and their major characteristics are very realistic expressions in terms of contents and visual aspect. They are complex and delicate and even have artistic, literary values as if readers read a fiction or literary work of which its narrative structures or pictures are produced with graphics. The characteristics of realistic expressions shown in graphic novels are very different from the previous works of comics. It is noteworthy that they began to be acknowledged as works of art like painting or illustration, thanks to their features of strongly individual auteurist painting style, a fairly high degree of completion of the works, and creative and experimental expression techniques or methods, instead of following the fashion of the times. In recent years, in South Korea, Hollywood blockbuster films have been released one after another and become box office hits, there are increasing interest and demand for the original graphic novels. Accordingly, many original graphic novels have been translated and started to be sold, and keeping pace with this global flow of fashion, some writers in Korea began to produce works of graphic novels. However, to look into the domestic works produced claiming to be graphic novels, there are various opinions on their format and authenticity. In this sense, this study focused on Ga-ya Kwon's Namhansanseong, one the representative works of Korean style graphic novels, and in particular, it attempted to analyze their characteristics and commonalities focusing on the visual aspect of realistic expressions of objects. It is expected that there would be an opportunity to seek for ways so that Korean style graphic novel can be further developed as a genre of comics, with competitiveness by looking back on the identity and present state of domestic graphic novels and developing and applying Korea's original subject matters differentiated from those of graphic novels in the U.S., Europe or Japan through this study. In addition, it is desired that they will be a new energizer for the stagnant domestic comics market.

A Study on the Relationship Between Online Community Characteristics and Loyalty : Focused on Mediating Roles of Self-Congruency, Consumer Experience, and Consumer to Consumer Interactivity (온라인 커뮤니티 특성과 충성도 간의 관계에 대한 연구: 자아일치성, 소비자 체험, 상호작용성의 매개적 역할을 중심으로)

  • Kim, Moon-Tae;Ock, Jung-Won
    • Journal of Global Scholars of Marketing Science
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    • v.18 no.4
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    • pp.157-194
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    • 2008
  • The popularity of communities on the internet has captured the attention of marketing scholars and practitioners. By adapting to the culture of the internet, however, and providing consumer with the ability to interact with one another in addition to the company, businesses can build new and deeper relationships with customers. The economic potential of online communities has been discussed with much hope in the many popular papers. In contrast to this enthusiastic prognostications, empirical and practical evidence regarding the economic potential of the online community has shown a little different conclusion. To date, even communities with high levels of membership and vibrant social arenas have failed to build financial viability. In this perspective, this study investigates the role of various kinds of influencing factors to online community loyalty and basically suggests the framework that explains the process of building purchase loyalty. Even though the importance of building loyalty in an online environment has been emphasized from the marketing theorists and practitioners, there is no sufficient research conclusion about what is the process of building purchase loyalty and the most powerful factors that influence to it. In this study, the process of building purchase loyalty is divided into three levels; characteristics of community site such as content superiority, site vividness, navigation easiness, and customerization, the mediating variables such as self congruency, consumer experience, and consumer to consumer interactivity, and finally various factors about online community loyalty such as visit loyalty, affect, trust, and purchase loyalty are those things. And the findings of this research are as follows. First, consumer-to-consumer interactivity is an important factor to online community purchase loyalty and other loyalty factors. This means, in order to interact with other people more actively, many participants in online community have the willingness to buy some kinds of products such as music, content, avatar, and etc. From this perspective, marketers of online community have to create some online environments in order that consumers can easily interact with other consumers and make some site environments in order that consumer can feel experience in this site is interesting and self congruency is higher than at other community sites. It has been argued that giving consumers a good experience is vital in cyber space, and websites create an active (rather than passive) customer by their nature. Some researchers have tried to pin down the positive experience, with limited success and less empirical support. Web sites can provide a cognitively stimulating experience for the user. We define the online community experience as playfulness based on the past studies. Playfulness is created by the excitement generated through a website's content and measured using three descriptors Marketers can promote using and visiting online communities, which deliver a superior web experience, to influence their customers' attitudes and actions, encouraging high involvement with those communities. Specially, we suggest that transcendent customer experiences(TCEs) which have aspects of flow and/or peak experience, can generate lasting shifts in beliefs and attitudes including subjective self-transformation and facilitate strong consumer's ties to a online community. And we find that website success is closely related to positive website experiences: consumers will spend more time on the site, interacting with other users. As we can see figure 2, visit loyalty and consumer affect toward the online community site didn't directly influence to purchase loyalty. This implies that there may be a little different situations here in online community site compared to online shopping mall studies that shows close relations between revisit intention and purchase intention. There are so many alternative sites on web, consumers do not want to spend money to buy content and etc. In this sense, marketers of community websites must know consumers' affect toward online community site is not a last goal and important factor to influnece consumers' purchase. Third, building good content environment can be a really important marketing tool to create a competitive advantage in cyberspace. For example, Cyworld, Korea's number one community site shows distinctive superiority in the consumer evaluations of content characteristics such as content superiority, site vividness, and customerization. Particularly, comsumer evaluation about customerization was remarkably higher than the other sites. In this point, we can conclude that providing comsumers with good, unique and highly customized content will be urgent and important task directly and indirectly impacting to self congruency, consumer experience, c-to-c interactivity, and various loyalty factors of online community. By creating enjoyable, useful, and unique online community environments, online community portals such as Daum, Naver, and Cyworld are able to build customer loyalty to a degree that many of today's online marketer can only dream of these loyalty, in turn, generates strong economic returns. Another way to build good online community site is to provide consumers with an interactive, fun, experience-oriented or experiential Web site. Elements that can make a dot.com's Web site experiential include graphics, 3-D images, animation, video and audio capabilities. In addition, chat rooms and real-time customer service applications (which link site visitors directly to other visitors, or with company support personnel, respectively) are also being used to make web sites more interactive. Researchers note that online communities are increasingly incorporating such applications in their Web sites, in order to make consumers' online shopping experience more similar to that of an offline store. That is, if consumers are able to experience sensory stimulation (e.g. via 3-D images and audio sound), interact with other consumers (e.g., via chat rooms), and interact with sales or support people (e.g. via a real-time chat interface or e-mail), then they are likely to have a more positive dot.com experience, and develop a more positive image toward the online company itself). Analysts caution, however, that, while high quality graphics, animation and the like may create a fun experience for consumers, when heavily used, they can slow site navigation, resulting in frustrated consumers, who may never return to a site. Consequently, some analysts suggest that, at least with current technology, the rule-of-thumb is that less is more. That is, while graphics etc. can draw consumers to a site, they should be kept to a minimum, so as not to impact negatively on consumers' overall site experience.

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A Study of the Time-Space and Appreciation for the Performance Culture of Gwanseo Region in Late Joseon Period: Focusing on Analysis of Terminology (조선후기 관서지방의 공연 시공간과 향유에 관한 연구)

  • Song, Hye-jin
    • (The) Research of the performance art and culture
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    • no.22
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    • pp.287-325
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    • 2011
  • This paper studies the time-space and appreciation of the performance culture of Gwanseo region, which is considered to have formed a characteristic culture in late Joseon period. For this purpose, 4 gasa written in hangeul (Korean alphabet), as well as 4 yeonhaeng gasa, 108 articles of Gwanseoakbu were examined. Plus, among the 9 types of yeonhaengrok (Documents of Performance culture) written in Chinese character, those parts which describe the performance traits have been analyzed. Then, 'main list of terminology' has been deduced based on the categorization according to the following points : 1) subjects of performance and appreciation 2) time and period of performance 3) space of performance 4) contents of performance 5) background and motive for performance and 6) method of performance. Through this process, various 'nouns' and 'predicate verbs' in relation to performance culture emerged, which were systemized according to types of performance elements and categories. Major terminology includes predicate verbs and symbolic verbs such as nokuihongsang,' 'baekdaehongjang,' 'jeolsaekgeumga,' 'cheonga,' 'hwaryu,' 'gamuja,' and 'tongsoja,' as well as the terms already known such as gisaeng, iwon, yangbang, akgong, and jeonak, which refer to musicians and dancers. Subjects of performance were divided into performers and listeners, categorized into concert, music, and dance, according to performance form. In the case for music, it was divided into instrumental or vocal, solo or accompanied (byeongju, self-accompaniment). In the case for vocal music, noteworthy was the inclusion of profesional artist's singing (called gwangdae or uchang). The record of 23 names of popular artists from Gwanseo region, with mention of special talents for each person, reflects the degree of activeness and artistic level of the province. Depending on the appreciating patrons, the audience were indicated as the terms including 'yugaek (party guest),' jwasang,' 'on jwaseok,' and 'sonnim (guests).' It seems that appraisal for a certain performance was very much affected by the tastes, views, and disposition of the appreciating patrons. Therefore it is interesting to observe different comparative reviews of concerts of different regions given by literary figures, offering various criticism on identical performance. In terms of performance space, it has been divided into natural or architectural space, doing justice to special performance sites such as a famous pavilion or an on-the-boat performance. Specific terms related to the scale and brightness of stage, as well as stage props and cast, based on descriptions of performance space were found. The performance space, including famous pavilions; Yeongwangjeong, Bubyeokru, Baeksangru, Wolparu, and Uigeomjeong, which are all well-known tourist sites of Gwanseo province, have been often visited by viceroys. governors, and envoys during a tour or trip. This, and the fact that full-scale performances were regularly held here, and that more than 15 different kinds of boats which were used for boat concert are mentioned, all confirm the general popularity of boat concerts at the time. Performance time, categorized by season or time of day (am/pm/night) and analyzed in terms of time of occurrence and duration, there were no special limitation as to when to have a performance. Most morning concerts were held as part of official duties for the envoys, after their meeting session, whereas evening concerts were more lengthy in duration, with a greater number of people in the audience. In the case of boat concert, samples include day-time concert and performances that began during the day and which lasted till later in the evening. Major terminology related to performance time and season includes descriptions of time of day (morning, evening, night) and mention of sunset, twilight, moonlight, stars, candles, and lamps. Such terms which reflect the flow of time contributed in making a concert more lively. Terminology for the contents of performance was mostly words like 'instrumental,' 'pungak,' or 'pungnyu.' Besides, contextual expressions gave hints as to whether there were dance, singing, ensemble, solo, and duets. Words for dance and singing used in Gwanseo province were almost identical to those used for gasa and jeongjae in the capital, Hanyang. However, many sentences reveal that performances of 'hangjangmu' of hongmunyeon, sword dance, and baettaragi were on a top-quality level. Moreover, chants in hanmun Chinese character and folk songs, which are characteristic for this region, show unique features of local musical performance. It is judged that understanding the purpose and background of a performance is important in grasping the foundation and continuity of local culture. Concerts were usually either related to official protocol for 'greeting,' 'sending-off,' 'reports,' and 'patrols' or for private enjoyment. The rituals for Gwanseo province characteristically features river crossing ceremony on the Daedong river, which has been closely documented by many. What is more, the Gwanseo region featured continued coming and goings of Pyeongan envoys and local officers, as well as ambassadors to and fro China, which required an organized and full-scale performance of music and dance. The method of performance varied from a large-scale, official ones, for which female entertainers and a great banquet in addition to musicians were required, to private gatherings that are more intimate. A performance may take the form of 'taking turns' or 'a competition,' reflecting the dynamic nature of the musical culture at the time. This study, which is deduction of terminology in relation to the time-space and appreciation culture of musical performances of Gwanseo region in late Joseon period, should be expanded in the future into research on 'the performance culture unique to Gwanseo region,' in relation to the financial and administrative aspects of the province, as well as everyday lifestyle. Furthermore, it could proceed to a more intensive research by a comparative study with related literary documents and pictorial data, which could serve as the foundation for understanding the use of space and stage, as well as the performance format characteristic to Korean traditional performing arts.