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The Correlations between Renminbi Fluctuations and Financial Results of Venture Companies in the Floating Exchange Rate (변동환율제도하의 위안화 환율변동과 벤처기업의 재무성과 간 상관관계 연구)

  • Sun, Zhong Yuan;Chang, Seog-Ju;Na, Seung-Hwa
    • 한국벤처창업학회:학술대회논문집
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    • 2010.08a
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    • pp.139-160
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    • 2010
  • On July 21st in 2005, People's Bank of China (PBOC) turned the currency peg against the U.S. dollar into managed currency system based on a basket of unnamed currencies under China's exchanged rate regime. This change means that China's enterprises are not free from currency fluctuations. The purpose of this study is to analyze the relations between Renminbi fluctuations in the floating exchange rate and financial results of venture companies. The process and outcomes of this study are as follows, First, in order to measure the financial results of venture companies, I choose venture companies in Shandong Province listed on the Shanghai Stock Exchange (SSE) at random and several quarter financial sheets according to safety ratios, profitability ratios, growth ratios, activity ratios. Second, I arrange the daily Renminbi exchange rate data announced from July 21st, 2005 to December 31st, 2008 by PBOC into the quarterly data. Third, in order to confirm the relations between Renminbi fluctuations and financial results of venture companies, I carry out Pearson's correlation analysis. As a result, the revaluation of the Chinese Renminbi has weakly negative effects on debt ratio, total assets turnover ratio and equity turnover ratio in statistics. But the revaluation of the Chinese Renminbi is not related to other financial index in statistics. The result of this study is that the revaluation of the Chinese Renminbi has little influence on the export and import of Chinese venture companies and certifies the fact that Chinese venture companies have much foreign currency assets. In addition to avoid the currency exposure risk, this study shows the effective method about currency exposure risk which adjusts proportion of Renminbi to foreign currency.

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A Study on the Propensity to Purchase Babies' Cosmetics (베이비화장품의 구매행태에 관한 연구 - 대구, 경북 지역을 중심으로 -)

  • Lee Kyung-Hwa;Kim Ju-Duck
    • Journal of the Society of Cosmetic Scientists of Korea
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    • v.31 no.2 s.51
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    • pp.169-177
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    • 2005
  • The propensity to purchase babies' cosmetics is investigated and analysed for this research. The synopsis of this research paper is as follows. The first, the $68\%$ of all respondents do not how a manufacturer or brand name in the reality of variously emerging domestic and import cosmetics for babies. The second, in case of a child haying a fair, sensitive skin or atopy (atopic dermatitis), the respondents are careful in choosing babies cosmetics but in case of a child having a normal skin the older a child grows from a stage of a new-born, a baby and an infant to a primary-school child, the older its mother is, the more respondents use adults' cosmetics in common rather than use cosmetics only for babies. $7.6\%$ of respondents do not use babies' cosmetirs at ail. Especially, in using bathing goods such as a shampoo or a body cleanser, they frequently use adults' cosmetics in common. The third, the qualify is taken into the utmost consideration in purchasing babies' cosmetics. The Quality of imports is trusted and preferred better than that of domestic goods. The cost of purchasing babies cosmetics is less than 10,000 Won. consumers recognize that the price or cosmetics is rather high. The last, the improvement or babies cosmetics is 'the safety of goods', answered by $56.5\%$ of respondents. The respondents are generally not satisfied with babies' cosmetics. So, a baby's skin is threatened by a newly-built house syndrome, the increase of atopic dermatitis, etc., caused by an environmental pollutions, a change of diet and a change of residential life. Under these actual conditions, babies' cosmetics which can protect a delicate and sensitive skin of a baby should be developed immediately. Consumers should have a correct choice with precise recognition and information on a baby's skin and cosmetics and continually use the efficacious and excellent babies' cosmetics to prevent a baby from a skin irritation, and need to show a keen interest in a healthy skin of a baby.

Myanmar's Macroeconomic changes and its Implications for the Invest of Korean Enterprises (미얀마 통상환경의 변화와 한국기업의 투자 및 진출에 관한 시사점)

  • Jung, Sung-Hoon;Kwon, O-Yoon
    • International Commerce and Information Review
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    • v.13 no.4
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    • pp.177-201
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    • 2011
  • Myanmar had fallen behind other southeast asian nations since Burmese way to Socialism settled down. However, historically second election in Myanmar hold in 2011 and dramatic changes in areas such as Special Economic Zone announcement, the very huge inflows of foreign direct investment in a year of 2009, the infrastructure building projects, a permit of the right to strike for Labour Organization in Myanmar etc. Particularly, Foreign investments and trade with neighbouring countries are actively growing and also with Korea. But investments of Korea in Myanmar relatively are not diversity, with limited sectors such as mining and sewing manufacturing. In this point of view, this paper is trying to make implications for strategies of entry and investments of Korea in Myanmar by using previous papers related to Myanmar economies, trade and foreign investments with updated statistical data. The implications for Korea is that recently Myanmar economy is in its early stages of development. Although it can occur huge demand of railway, road, communications and constructions related to social infrastructures essentially needed for development of a country, these sectors relatively need huge investments. On the other hands, textile and sewing industry relatively need smaller investments in which investors can utilize low labour cost and a position for export to third countries. But those firms which set up for those purpose in Myanmar might have trouble creating domestic markets in future. Moreover, due to demand which occur in the early stage of growth in Myanmar, trade volume tend to increase and trading is also possible to invest but Myanmar still have lots of problems with infrastructure such as road and logistics and we need to make pre-survey for the costs and benefits of our products Finally, Myanmar government is trying to promote and encourage some of industries such as export-oriented industry, import substitution industry and labour-intensive industry. It can also means they will accumulate capital which can be sources for Myanmar economic growth.

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An Extraction Way of Benchmarking Ports through Tier Analysis for Korean Seaports (Tier분석을 통한 벤치마킹항만 적출방법)

  • Park, Ro-Kyung
    • Journal of Korea Port Economic Association
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    • v.25 no.1
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    • pp.15-28
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    • 2009
  • The purpose of this paper is to show the empirical extraction way of benchmarking ports for overcoming the shortcoming which the traditional DEA method has by using 20 Korean ports in 2003 for 2 inputs (birthing capacity, cargo handling capacity) and 2 outputs(Export and Import Quantity, Number of Ship Calls). Because DEA method has produced the limited set of efficient units which are reference to inefficient units respective of their differences in efficiency scores, it is necessary to adopt the more feasible benchmarking information according to the path analysis(tier or stratification). The core empirical results of this paper are as follows. Benchmarking ports against inefficient ports according to the tier analysis are that Masan Port(Janghang$\rightarrow$Jeju$\rightarrow$Seogoipo$\rightarrow$Yeosu), Jinhae Port(Janghang$\rightarrow$Mogpo$\rightarrow$Seogoipo$\rightarrow$Wando), Pohang&DonghaePort(Janghang$\rightarrow$Samcheonpo$\rightarrow$Pyungtag$\rightarrow$Samcheog), and Sogcho Port(Janghang$\rightarrow$Mogpo$\rightarrow$Seogoipo$\rightarrow$Wando). The policy implication to the Korean seaports and planners is that Korean seaports should introduce the new methods like Tier analysis of this paper for evaluating the port performance and enhancing the efficiency in short term, mid term, and long term according to the tier 3 stage, the tier 2 stage, and the tier 1 stage with original DEA stage.

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Environment-friendly and Low-Carbon Agriculture for Demand-Supply Control and Food Security of Korean Rice (쌀 수급안정과 식량안보를 위한 친환경·저탄소 농업 전환방안)

  • Yang, Seung-Koo;Park, Pyung-Sik;Son, Jang-Hwan;An, Kyu-Nam
    • Korean Journal of Organic Agriculture
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    • v.26 no.1
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    • pp.99-128
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    • 2018
  • The cultivation area of rice as staple grains is decreasing in the domestic situation in Korea. Import volume of a duty in foreign rice is 409,000 tons for a year regardless increasing of production per unit area and decreasing of rice consumption. The total stock of rice is increasing cumulatively despite the effort for production mediation of rice. Therefore, maintenance of cultivation area and reduction of production are necessary for national foodstuffs security problems. Development of environment-friendly and low-carbon technology as alternative of global warming and aging of farm labor power is very important responsibility for descendants with creation of sustainable agriculture environment. As alternative for demand and supply stabilization of rice from all angles, first stage: extension of environment-friendly cultivation area as 17% Jeollanam-do level with maintenance of cultivation area under the present circumstances, second stage: extension of environment-friendly cultivation area as 25%, third stage: extension of environment-friendly cultivation area as 35%. From above mentioned scenario, reduction of rice production (60,000 tons), increases of production cost (59,200,000,000 Won), and reduction of income (201,500,000,000 Won) are estimated in first stage. Reduction of rice production (90,000 tons), increases of production cost (122,100,000,000 Won), and reduction of income (313,700,000,000 Won) are estimated in second stage. Reduction of rice production (380,000 tons), increases of production cost (222,000,000,000 Won), and reduction of income (464,500,000,000 Won) are estimated in third stage. From analysis results for partial tillage in transplanting cultivation complex (10ha), rice production is decreased 1.3~1.5 ton by complex. Production cost of rice is decreased and increases of income cultivation type. Gradual extension of environment-friendly agriculture and low-carbon partial tillage could be expected for environment maintenance of the territorial integrity, confidence of consumer, and high-efficiency of low-cost.

A Study on the Establishment and Operation of a Regulatory Response Framework in connection with the Regulatory Strength of the Licensing Policy for New Medical Devices -Focusing on the Application of FMEA- (의료기기 신제품의 인허가정책 규제강도에 연계한 규제대응 프레임워크 수립 및 운영에 관한 연구 - FMEA 적용을 중심으로 -)

  • Kim, Gyosu;Ru, Gyuha;Kim, Yeonhee
    • Journal of Technology Innovation
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    • v.28 no.4
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    • pp.1-26
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    • 2020
  • Due to the spread of Corona 19 around the world, Infectious Disease Medicine and New Medical Devices such as Diagnostic Agent are being rapidly developed and launched, and for the fast supply and demand of these, each country has eased import regulations or has implemented policies for fast approval(NIDS, 2020). On the other hand, New Developed Medical Devices that are not related to New Infectious Diseases, they are still entering the market through strict licensing and licensing regulations, such as delay and cancellation in the test inspection process, etc. Therefore, This Study specialized in the government-managed laws encountered when New Medical Devices enter the market, derive Factors influencing the Strength of Regulations, analyzes the Strength of Regulations, and proposes a Regulatory Response Framework. The Research Method was conducted by Literature Research, was applied by Failure Mode and Effects Analysis(FMEA) Method, Expert Interview(1st): Idea Collection, Expert Interview(2nd): Validation, and Priority through the Application Process of FMEA Method. A Method of Quantifying the Intensity of Regulation was proposed by multiplying the Impact of the Influencing Factors for each stage of regulation and the Burden Impact for each type of Regulatory Affairs to find the Importance of the Regulatory Factors and multiplying the Severity of the Regulatory Impact. The Implications are that major overseas countries and the Korean government are actively responding with Special Regulatory Policies and Mitigation Policies for fast licensing of New Developed Medical Devices in accordance with Corona 19. It is expected that the direction for improvement of regulations and measures to respond to regulations will be implemented so that a more proactive and preemptive response to the regulatory process of the licensing policy for New Devices can be achieved.

Discourse Analysis of Business Chinese and the Comparison of Negotiation Culture between Korea and China - Focused on Business Emails Related to 'Napkin Holder' Imports - (무역 중국어 담화 고찰과 한중 협상문화 비교 - '냅킨꽂이' 수입 관련 비즈니스 이메일을 중심으로 -)

  • Choi, Tae-Hoon
    • Cross-Cultural Studies
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    • v.50
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    • pp.103-130
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    • 2018
  • This research aims to explore the associated linguistic features and functions of Chinese as used for business trading purposes, and which is based on a discourse analysis through a case in which a Korean buyer and a Chinese supplier have exchanged Internet based e-mails. The research questions include first, the linguistic functions and characteristics of Chinese shown as identified in this trade case through e-mails, second, the use of Chinese trade specific terms, and third, the apparent and dynamic negotiation strategies that are identified as followed by the cultural value systems which are used for resolving interest conflicts and issues between the buyer and supplier in the course of negotiating business contracts between two parties. The participants of this research pertain to a Korean buyer, James and a Chinese supplier, Sonya. The associated data consists of 74 e-mails exchanged between the two parties, initiated in an effort to begin and complete a trade item, in this case namely the product of napkin holders. The research for the study is based on the discourse analysis and empirically analyses models of Chinese linguistic functions and features. The findings are the following. First, as identified, the specific Chinese functions used and sequenced in this trade case are of a procedure, request, informing, negotiation and persuasion. Second, the essential trade terms used in this business interaction involve the relevant issues of 1) ordering and price negotiating, 2) marking the origin of the products, 3) the arrangement of the product examination and customs declaration for the anticipated import items, 4) preparation of the necessary legal documents, and 5) the package and transport of the product in the final instance. Third, the impact of the similarities and differences in the cultural value systems between Korea and China on the negotiations and conflict resolution during a negotiated contract between two parties are speculated in terms of the use of culturally based techniques such as face-saving and the utilization of uncertainty-avoiding strategies as meant to prevent misunderstandings from developing between the parties. The concluding part of the study discusses the implications for a practical Chinese language education utilizing the linguistic functions and features of the Chinese culture and language strategies as useful in business associations for trading purposes, and the importance of intercultural communication styles based on similar of different identified cultural values as noted between two parties.

Estimation of CO2 Mitigation Potentials using Food Miles of Domestic and Imported Food - About Beef and Wine - (푸드 마일리지를 이용한 식품의 이산화탄소 감축 잠재량 평가 - 쇠고기와 포도주를 대상으로 -)

  • Seong, Mi-Ae;Kim, Dai-Gon;Lee, Jae-Bum;Ryu, Ji-Yeon;Hong, You-Deog
    • Journal of Climate Change Research
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    • v.2 no.1
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    • pp.15-32
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    • 2011
  • Due to greenhouse gas increased by human activities, abnormal climate changes are continuously occurring everywhere in the world and internationally people make efforts to reduce the emission of greenhouse gas. Our country also is making endeavors to realize low carbon society on the foundation of the green growth and for this low carbon consumption pattern settlement through green life is necessary. Therefore for the nationals the offering of the information on greenhouse gas emission that is reduced through the change to low carbon life is required. In this study the objects are beef and wine whose weight of import is high among the beverages and foods consumed in the country and we calculated the food mileage and emission of carbon dioxide of the domestic and foreign product beef and wine and estimated the potential amount that can be reduced when replacing the imported products with domestic products. As the year 2007 being standard if we replace 10% of imported beef with domestic products it is possible to reduce 14,000 tons of carbon dioxide per year and on one day out of a year if we replace imported beef with domestic beef the reduction of 384 tons of carbon dioxide is appeared to be possible. In the same standard year if we replace 10% of imported wine with domestic product we can reduce 1,396 tons and on one day out of a year if we replace imported wine with domestic wine reduction of 38 tons of carbon per year appeared to be possible. Through active promotion and expansion of variety of domestic foods and beverages in the real life of the nationals the consumption pattern of natural low carbon life should be achieved and offering of more systematized greenhouse gas emission DB is thought to be necessary.

This Study of the Arms Used in the Three Kingdoms (삼국시대(三國時代) 병기체제(兵器體制)의 연구(硏究))

  • Kim, sung-tae
    • Korean Journal of Heritage: History & Science
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    • v.34
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    • pp.20-58
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    • 2001
  • In order to unravel the characteristics of arms used in the 'Three Kingdoms,' Kokuryo, Silla and Paikje. the classification and the developing procedures of the arms should be first discussed. At first, the basic arms of the soldiers of Three Kingdoms were iron swords, iron spearheads, and bows. During that period, swords attached a ring pommel were commonly used. But after 5A. D. a sword with a decoration pommel appeared. Infantry generally used iron spearheads. From the late 4A. D. the long spearheads were broadly used in cavalry battles. In the late 6A. D. infantry mainly used long spearheads, and this resulted in the foundation of long spearheads units. There were two kinds of bows: Short Bow whose arch is small and Long Bow whose arch is long. It is known that the Short Bow was widely used in Kokuryo and Paikje up to 5A. D. In the early era, infantry used Long Bow, yet it was vastly used after 6A. D. when a castle's strategical value was great and defending a castle was. significant. Above mentioned, as basic combat weapons, iron spearhead and bow were fundamental. In particular, the spearhead was the essential weapon to a soldier. Yet, arrow gun and hook-shape cutters were important weapons. Especially, after 6A.D., when a castle became strategically pivotal in military, the arrow gun became the important weapon. This resulted in the foundation of arrow gun units. Hook-shape cutters were used to snatch horsemen or to climb up to fall the castle. Yet, the cutter was not the Three Kingodoms' basic weapon. In addition, the three stages of arms development in the Three Kingdoms are formation stage, development stage, and settlement stage. The formation stage was the period when premitive military unit appeared in the Three Kingdoms. It ranged from 1B. C. to the mid 3A. D. At that time according to regions. there were two weapon systems operating: North area including Kokuryo and the northern part of Paikje and South area including Silla, Kaya and the southern part of Paikje. ln North area a sword with a ring attached at the end of the holder, iron spear with neck and mid-size flat holder and iron arrowhead with an extension to fix, were used. In this period, during a war calvary units were mostly used and their weapon systems seemed possibly to succeed in that of Kochosun. In the development stage, when LoLang's influence on surroundings became weak, Koguryo, Paikjae and Silla had directly contacted each other. In the late 3A.D. to the early 6A.D., Silla achieved a drastic improvement in weapon system. This was the period when Kokuryo played a leading role in arms race. Kokuryo's arms manufacturing techniques passed onto Silla, Kaya and Paikje. In combat strategy a joint operation between infantry and calvary prevailed even if their military tactics were different. In a calvary battle heavily armed horsemen played import roles at this period. The horsemen and even horses were heavily guarded with iron armors. After all, the appearance of fully armed horsemen implies the very need of powerful destructive forces in weapon system. At that time, basic weapons were a big sword with a ring attached at the end of the holder, swallow's tail-shape spear with neck, and iron spearhead with neck and an extension. The settlement stage began at the mid 6A.D., when it was the revolutionary period in the arms development history. Of course, actual proofs and picture documents were not sufficient enough to penetrate full scale of the weapon system. But, according to historical circumstances and historic records, it is very certain that this period was the peak in arms development. In this period special military units, such as infantry-calvary companies, Archery units and Long spear units, that executed particular duties with special weapons, were founded. This became the characteristics of the settlement stage.

A Study on Status Analysis for Advancement iNto Agricultural Sector in Central Asia (중앙아시아 농업분야 진출을 위한 현황분석 - 우즈베키스탄, 카자흐스탄, 키르기즈스탄 중심으로 -)

  • Park, Dong-Jin;Jo, Sung-Ju;Park, Jeong-Woon;Sa, Soo-Jin;Hong, Jung-Sik;Lee, Dong-Jin
    • Journal of the Korean Society of International Agriculture
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    • v.30 no.4
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    • pp.328-338
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    • 2018
  • Central Asia (Uzbekistan, Kazakhstan, Kyrgyzstan) is a hot and arid continental climate, with most areas (68%) consisting of barren vegetation, desert, and meadows. The main agricultural areas for crop production include irrigated farmland, non-irrigated farmland, grassland, prairie and mountain. We are experiencing climate change with recent climate variability increasing. Agriculture is one of major economic sectors and provides a means of livings for the rural population of Central Asia, especially the poor. In the past two decades, Central Asia has experienced a high population growth rate, with Kazakhstan at 16.8%, Uzbekistan at 34.5% and Kyrgyzstan at 28.4%. As a major industry, Kazakhstan has the largest share of exports of agricultural products followed by petroleum, mineral resources, steel, and chemicals. Uzbekistan is the fifth largest cotton exporter as well as the sixth largest cotton producer in the world. Kyrgyzstan exports ores, stones, cultured pearls, and minerals. These three countries are rich in mineral resources, agricultural products, and energy resources. However, not only do they have difficulties in economic development due to the weakness of logistics and industrial infrastructure, but they also have imperceptible cooperation and investment among countries due to insufficient research and development. Through this study, we will investigate national outlook, economic indicators, major agricultural products, import and export status, and agricultural technology cooperation status, and study how Korean agricultural industry advances into these countries through SWOT analysis. Through this, we hope to contribute to the basic data of Central Asian studies and cooperation and investment in agriculture in each country. In addition, in order to increase cooperative exchange and investment in these countries, we will prepare a Central Asia logistics hub for the rapidly changing interKorean railroad era.