• Agribusiness and Information Management
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• v.4 no.1
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• pp.24-31
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• 2012

This case study investigates the KIKO currency option that has been a social issue in recent years among developing countries, especially Korea, where the financial derivatives market is in a state of rapid growth. The forward transaction which becomes a basis of derivatives is intended to hedge risks that may be caused by a future change in asset prices. Although it originates from a simple form of agricultural transactions, there currently exists a variety of derivatives in more sophisticated forms. In the Korean agricultural industry, the need to use such derivatives is great, as there is a huge risk of price fluctuation in agricultural products due to frequent adverse weather. In addition, many developing countries with export-led industrial structures similar to Korea's, of necessity must resort to currency hedging as a method of reducing relevant risk. However, in most cases, the lack of understanding about financial derivatives results in an inappropriate application of these derivatives. The KIKO in this study represents such cases. Since 2007, KIKO has been sold in Korea to many small- and medium-sized export companies for the purpose of currency hedging when the exchange rate between the Korean won and the U.S. dollar was in a downward spiral. The main focus of this study is a case which is most representative of KIKO. As inflation rapidly increased during the financial crisis in the U.S. at the end of 2007, derivatives became a hot issue in the courts rather than in the financial markets. This case study investigates what KIKO and the fierce legal debates over it imply, from the perspective of the option of value evaluation in order to suggest not only a direction in which companies can utilize financial derivatives, but also a roadmap for the future derivatives market.

• World Technopolis Review
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• v.1 no.4
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• pp.276-286
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• 2013

"Federal investments into the future of a region" - pushing economy in the right direction or throwing tax money into a black hole? Hot-headed contentions keep circulating within politics and economy discussing the effect of technology centers and their sustainability within a region. Start-up support and technological infrastructure with the auxiliary service of well developed sector-oriented clusters as a fertile soil for successful networks are an undeniable advantage of well organised technology centers. Sceptic contemporaries still hold against that in order to implement such a center millions of federal funds for infrastructure and operation are invested. What output of this tax money is verifiable in the long run? The case of Dortmund provides substantial food for this necessary and relevant discussion. Now, after 27 years of history of the TechnologieZentrumDortmund, TZDO for short, a positive balance can be drawn. This is not just a matter of personal belief and stance. Fortunately, a recent study on the economic effects of the TZDO on the whole region was performed by the Center of Applied Economy Research M$\ddot{u}$nster, Germany (Gundel and Luttmann 2008). The result is clear and measurable: the TZDO has shown to be of great impact on the positive development of a whole region. This paper presents an account of the approach of the TechnologieZentrumDortmund and its current strategy and mode of operation to reach an utmost of effectiveness of personal and pecuniary input in establishing economic success for the region of Dortmund. An immense change of minds, employment opportunities and a massive structural change of the whole region were some of the ambitious aims that had to be reached and that are achieved to a large extent.

• Korean Journal of Biological Psychiatry
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• v.27 no.2
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• pp.42-57
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• 2020

Electroconvulsive therapy (ECT) is indicated for various mental disorders (e.g., major depressive disorder, schizophrenia, and bipolar disorder) and the behavioral and psychological symptoms of dementia in elderly patients. Furthermore, ECT is a useful first-line treatment in emergency and crisis situations such as suicide risk, violent behavior, catatonia, and food refusal, which are more frequent in elderly patients. ECT is also effective in the treatment of the motor symptoms of neurological disorders, such as Parkinson's disease and Huntington's disease. Due to the high risk of various physical diseases, the comorbid physical conditions of elderly patients should be individually controlled to optimize ECT treatment. Compared to young adults, in elderly patients the seizure threshold is higher, the seizure duration is shorter, and the anesthetic dose is lower. On the contrary, the response rate in the elderly is both faster and higher. Considering potential cognitive decline and the prevention of further deterioration of cognitive function in elderly patients, in the absence of significant comorbidities, twice weekly sessions and right unilateral electrode placement with a lower seizure threshold and less cognitive effect are preferred to bilateral electrode placement, which has a high risk of adverse cognitive effects. After an acute course of ECT, continuation and maintenance of ECT, combined with prescription of therapeutic drugs, may prevent possible relapse or recurrence of mental disorders. In conclusion, ECT can be used to treat mental disorders in elderly adults, with safety and effectiveness comparable to that in young adults.

• Journal of Climate Change Research
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• v.3 no.4
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• pp.271-280
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• 2012

The study aims to analyze economic viability of Integrated Gasification Combined Cycle, an innovative technology to utilize clean coal effectively and efficiently in the era of energy crisis. The study is conducted to evaluate business value of 300 MW IGCC demonstration plant technology development based on binomial option, in consideration of uncertainty of fuel price. Binomial option is one of the real option valuation methods, which is ideally suited to irreversible decision making under uncertainty. With this analysis, it shows that investment value is higher compared with economic evaluation based on discounted cash flow, since this method can measure quantity. As a result, this study is proved to be economically feasible, which have a positive impact on the next generation of IGCC and the connection with Carbon Capture and Storage.

• Journal of the Economic Geographical Society of Korea
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• v.25 no.3
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• pp.397-419
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• 2022

Smart agriculture has emerged to be a solution to the global food crisis and a new growth engine in the era of the Fourth Industrial Revolution. The purpose of this study is to reveal the spatiality of smart agriculture by analyzing smart agriculture policies in major countries and examining how major's agricultural knowledge and experience are expressed in specific agricultural environment. I selected China, Japan, the Netherlands, and the United States as representative examples. In the analysis of agricultural policy, the direction, governance and main areas and technologies were focused. As a result, it is found both standardization strategy and the localization strategy work at the same time. Standardization strategies decontextualize technologies and policies from the economic, social, cultural, and ecological contexts of region. The regionalization strategy builds a smart agricultural model for each country with reflecting geographical characteristics. This study could be for facilitating further researches on geographies of agricultural technology and agricultural knowledge production.

• Journal of the Korean Institute of Rural Architecture
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• v.25 no.3
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• pp.37-45
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• 2023

This study is conducted to provide an empirical review on how schools play a pivotal role in the regional communities. For this, the use of closed schools, activities to revive small-scale schools, and activities related to nearby schools outside the village were analyzed for villages that have participated and have been awarded in the Contest for Making Happy Rural Communities by the Ministry of Agriculture, Food and Rural Affairs. The results of this are as follows. Out of 204 villages that won the contest, there were 19 cases of school closures. Of these 19 cases, there are 17 cases in which the closed school facilities still exist. For the two remaining cases, there are no buildings and only the site remains. To summarize the use of these schools, the functions are being combined and are determined within the range that local residents can operate. The impact or success factors on the region can be summarized into five main categories through the revival of schools in the crisis of closure. First, it was an opportunity to lay an organizational foundation for village projects in the future by reorganizing the village's organization, such as the formation of a village promotion committee to revive the schools. Second, it did not just introduce outsiders to increase the population, but supported housing and jobs for them to successfully settle down. Third, a cultural community was created with senior and junior residents, and finally, the residents became teachers or formed a village education communities such as lifelong education. In the relationship with schools existing outside the village, activities with members of the surrounding schools and linked activities are being carried out in the sense of "school".

• Journal of Animal Science and Technology
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• v.66 no.2
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• pp.279-294
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• 2024

Agriculture has played a significant role in the national economy, contributing to food security, driving economic growth, and safeguarding the dietary habits of the population. Korean agriculture has been compelled to focus on intensive farming due to its limited cultivation area, excessive input costs, and the limitations of agricultural mechanization. In the Republic of Korea (R.O.K), the concept of environmentally friendly animal agriculture began to be introduced in the early 2000s. This concept ultimately aims to cultivate sustainable animal agriculture (SAA) through environmentally friendly production practices, ensuring the healthy rearing of animals to supply safe animal products. Despite the government's efforts, there are still significant challenges in implementing environmentally friendly agriculture and SAA in the R.O.K. Therefore, the objective of this review is to establish the direction that the animal agriculture sector should take in the era of climate crisis, and to develop effective strategies for SAA tailored to the current situation in the R.O.K by examining the trends in SAA in the U.S. The animal agriculture sector in the U.S. has been working towards creating a SAA system where humans, animals, and the environment can coexist through government initiatives, industry research, technological support, and individual efforts. Efforts have been made to reduce emissions like carbon, and improve factors affecting the environment such as the carbon footprint, odor, and greenhouse gases associated with animal agriculture processes for animals such as cattle and pigs. The transition of the U.S. towards SAA appears to be driven by both external goals related to addressing climate change and the primary objectives of responding to the demand for safe animal products, expanding consumption, and securing competitiveness in overseas export markets. The demand for animal welfare, organic animal products, and processed goods has been increasing in the U.S. consumer market. A major factor in the transformation of the U.S. animal agriculture sector in terms of livestock specifications is attributed to environmentally friendly practices such as high-quality feed, heat stress reduction, improvements in reproductive ability and growth period reduction, and efforts in animal genetic enhancement.

• Korea journal of population studies
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• v.35 no.1
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• pp.101-130
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• 2012

This study examines mortality change in North Korea and its association with state production and welfare systems. Two main subjects are analyzed. The first theme is to examine the reliability of mortality related data released by North Korea government authorities. Examining inner consistencies among mortality related statistics and comparing with mortality trends in other socialist societies, the study finds that mortality rate was under estimated. Under-estimation of mortality by North Korean authorities is regarded to result not only from political purpose which aims to propagate the regime's superiority but also from enumeration errors of vital statistics based on the residence registration. The second theme is to estimate the change in mortality of North Korean people since the establishment of DPRK, correcting errors of mortality data. Mortality of North Korean people is estimated to have improved largely by the early 1970s, to have been sluggish hereafter, and finally to have increased during the economic hardship period between 1993 and 2008. While large people died during the food crisis in the late 1990s, however the population loss caused by mortality increase was not so great as the proposition of the huge starvation was expected. It is partly because population turbulence occurred not just by mortality increase, rather it has progressed in the joint effects of fertility decline and exodus of North Korean people for food. It is also due to North Korean people's voluntary activities of informal economy. It is also worth noting the high mortality rate of North Korean men. The high mortality of North Korean men is likely due to men's mobilization for long time in army and labor with high risk of accident and their life styles.

• Environmental and Resource Economics Review
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• v.22 no.4
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• pp.759-784
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• 2013

Participants can use the allowances and offsets for implementing the compliance in the Emissions Trading Scheme(ETS). There are alternative commodities which are different prices it gives the opportunities to reduce the compliance costs and get the arbitrage. This study analyzes the price driver of spread which is the difference between EUA and sCER using AR-GARCH model, EUA and CER during the Phase 2 in EU ETS. The results show that there are common elements which impacts the EUA and sCER and also different elements between them. EUA and sCER get the effects from energy price and economic criteria such as coal price and financial crisis as common elements. However them get the effects from electric price, policy criteria such as restricted CERs and difference price between EUA and ERU price as different elements. The results shows that spread will be widen if energy price increase, especially oil and electric price give more impacts the spreads. This study has the means that it explains the reason why the spreads will broaden sharply in 2012. And it also suggests the price driver of spread during the whole period of Phase 2. In addition, this study shows that political aspects maybe become the main criteria of price change with structural elements shch as energy price in Korea ETS which starts in 2015.

• Journal of Distribution Science
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• v.10 no.3
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• pp.31-42
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• 2012

After the rapidly changing business management environment and financial crisis, high prices and domestic recession in Korea posed threats to the business survival of small and medium enterprises (SMEs). This paper looks at the potential of micro business owners for sustainable development: those who have a spirit of entrepreneurship and the potential to be a hidden champion. Our study of micro business values uses structure equation modeling by LISREL. We have done so in order to understand the foundation of management innovation and success model of micro enterprise by increasing the entrepreneurship and management performance relationship analysis. A micro-enterprise is a type of small business, found only in Korea, often registered as having ten or fewer employees. We examine the successful type of hidden champions and the influence of entrepreneurship on start-ups in business. As compared to past research on the SME entrepreneurship, this study segments small businesses even further. Small business entrepreneurship was classified into three forms that are most appropriate for the Korean situation today: innovation, risk-taking, and pro-activeness. This research is meaningful as it is Korea's first empirical analysis on four business types: wholesale and retail sales, food and lodging business, service business, and manufacturing business. Thus far, research on small business entrepreneurship was carried out using small-scale investigative analysis. However, this research attempted to develop a model that can explain a cause-effect relation of the motivational level when it comes to the difference of entrepreneurship by each business type and small business start-up success factors. Various conceptual and operational definitions could be developed in a diverse and precise manner. Independent variables that are related to the success of small businesses can be developed additionally to examine the success factors related to the systematization in detailed manner. The research showed that the innovation, risk-taking and pro-activeness of the manifested difference in the degree of perception depending on the type of small businesses. Among the four business types, the ones that manifested the highest successful start-up rates were food, service, wholesale and retail sales and manufacturing. Results after conducting the regression analysis are shown on, which proves that the small business entrepreneurship exerts direct effect on the financial management performance of small businesses. In other words, small business entrepreneurship exerts a positive effect on the small business financial success and management performance. The R² value is 0.61. It is possible to know that the perception of systematization and variables on attitude explains the 61% of the success for small self-employed businesses management performance. We define start-up key factors that are helpful to achieve internal growth of firms by finding business survival strategies. The results also focus on Korean government policy for micro enterprise and small business support.