• Journal of Distribution Science
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• v.10 no.6
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• pp.27-37
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• 2012

Many studies have focused on the importance of organizational integration when companies try to achieve growth through mergers and acquisitions (M&A). However, there has been little research that focuses on the new branding or customer base integration of the M&A process, despite the fact that this integration is very important for achieving M&A goals and business performance in industries such as retail. The purpose of this study is to provide an M&A case study of the retail industry, focused especially on the new branding and customer integration of two department stores. This study examined key integration processes in terms of brand name and membership systems of both companies by examining how the merged company achieved its new branding and the integration of its membership systems. The methodology of this research is the case study, which is used in both normative and empirical studies for distribution research in Korea. This research analyzes the case of both new branding and customer membership systems of the two companies. The new branding initiatives of this case centered on decision making including brand extension and brand naming. The customer membership integration of the two companies is analyzed on the basis of the customer reward programs that include both financial and service rewards. This study shows the success factors of new branding and customer integration in the M&A process in terms of achieving marketing goals and business performance as follows: First, companies should identify the integration areas by analyzing the brand and membership of both companies and make a balanced decision for both the customer and company. Second, the goals of new branding and membership integration in the M&A process should not emphasize business efficiency from a short-term perspective but rather should consider brand power and business synergy from a long-term perspective. Third, the post-merger integration process of the brand or customer areas requires not only the organized execution of integration tasks but also follow-up programs for changes in business strategy and marketing-related programs to realize the synergy effects of integrated organization. Although this study provides a detailed review and analysis of the new branding and customer integration processes in post-merger integration and in identifying the primary decision-making areas of these processes, there are some limitations requiring further research that may overcome or compensate for these limitations. The suggested future research areas are as follows: First, since this research is a case study of only one M&A, it makes few theoretical contributions such as new propositions or theories or possibilities for generalization. This limitation can be overcome through further research using multiple cases, which may lead to new propositions. Second, the methodology of this study lacks sufficient rigor in terms of its analytic approach because this case study was developed and analyzed descriptively. Further research is needed to compensate for these limitations, such as using a theory-based approach or comparative analysis approach that makes case analysis more systematic.

• International Area Studies Review
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• v.21 no.4
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• pp.41-63
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• 2017

FDI can either be absorbed in the production cycle with domestic investment and create an inducement effect or it can remain as an exogenous factor and increase the volatility of GDP. The purpose of this paper is to research these different impacts that FDI could have. For that, the endogenous growth theory was employed. The statistic method used are the panel model for sectoral analysis, and GARCH model and VAR for time series analysis. Myanmar was selected as this paper's research subject because it is one of countries which had a colossal amount of FDI inflow recently. The panel analysis did not confirm the causality between sectoral FDI and sectoral GDP. The reason for this could be in the lack of data, since sectoral data exists yearly only during 2006-2016. Therefore this study conducted the times series analysis. According to the results, during 2006 until 2010, it showed signs of GARCH but the effect of FDI on GDP was nonexistent, which means FDI was not integrated into the domestic production cycle but stayed in residual terms. During 2011 to 2016, FDI seemed to affect the growth of Myanmar's GDP. The estimation confirmed the existence of GARCH and the Granzer causality test confirmed that FDI influenced the GARCH, which signified FDI increased the volatility of GDP. The VAR analysis showed responses of GDP to FDI was small(about 0.0007). This research assumes that FDI can be divided in two parts: one part which can be assimilated in the domestic production cycle and the other where it stays outside of the production cycle. The former creates production inducement effect and the latter only increases the volatility of GDP. According to this study, the latter outweighs the former impact in Myanmar.

• (The)Study of the Eastern Classic
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• no.54
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• pp.387-416
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• 2014

This article explored the duplicity relation between the Daxue/Zhongyong of Confucianism and the Yonghobigyeol of Taoism, which was advocated by Bongwoo Gwon Tae-hoon, who was a Confucian scholar and the progenitor of Sundoism. The view of Bongwoo Gwon Tae-hoon was that the Confucian scriptures that contain the mind control method handed down from Confucius are Daxue, Zhongyong and Zhouyixicichuan (周易繫辭傳). His another view was that Zhuzi (朱子) intentionally did not expose the original object of Confucian mind control method in the interpretation of Sangangling (三綱領) of Daxuezhangju (大學章句) annotated by him, since he was invoked by the contemporary logic of Sung Period (宋代). Bongwoo Gwon Tae-hoon added a new annotation on Daxue Sangangling and tried to disclose the original object of Confucian mind control method through new interpretation by explaining the implied meaning of character '中' (zhong) of Zhongyong Yunzhijuezhong (允執厥中) by way of Iljungron (一中論). In addition to this new interpretation, Bongwoo Gwon Tae-hoon took the Yuanxiangfa (原象法), which Confucius compiled as the extract of Yijing (易經) from Zhouyixicichuan (周易繫辭傳), as the core of Confucian metaphysical philosophy study. He suggested Yuanxiangfa as a methodology to reach the ultimate target of study together with the Yonghobigyeol of Taoism and paid attention to the close relationship between the two. Bongwoo Gwon Tae-hoon verified the original object of Daxue by new interpretation on Daxue Sangangling, left an analytical thought on the consistency among Daxue, Zhongyong and Xicichuan (繫辭傳) and the study method of Igyohabil (異敎合一), where he integrated the principle of Taoism and Confucianism. Bongwoo Gwon Tae-hoon left a new topic to Korean world of thought, which is as important as the Seondanhosuron (禪丹互修論) of Cheonghaja Gwon Geuk-jung (靑霞子 權克中) in Joseon Period.

• Journal of the Korean Institute of Landscape Architecture
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• v.50 no.2
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• pp.64-75
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• 2022

The purpose of this study is to illuminate the meaning of the soundscapes of two bells, Daeheung-dong Cathedral and Sungsimdang in Eunghang-dong, which are landmarks and attractions in the historic downtown of Daejeon. The study was conducted through field research and recordings, as well as literature studies of related documents and soundscape theory. Daejeon city was developed along with Daejeon Railway Station during the Japanese colonial period in the early 20th century. As the Chungnam Provincial Office moved to Daejeon, Daeheung-dong and Eunhang-dong in Jung-gu, located near Daejeon Station, developed significantly and formed the city centre. As major administrative agencies moved to Seo-gu in the 1990s, the downtown area of Daejeon was on a path of decline, and the decline accelerated with the development of Sejong city. Meanwhile, Daeheung-dong Cathedral and Sungsimdang, founded by refugees during the Korean War, firmly protected the historic downtown area of Daejeon, where the natives left. Daeheung-dong Cathedral, established during the Japanese colonial period, is a local landmark with a history of 100 years in 2019. Sungsimdang, which was created with the backdrop of the Korean War, is also a historical and cultural asset with a history of 60 years and a local landmark selected as the No. 1 tourist attraction in Daejeon. This research, which started from the sound of the bells of Daeheung-dong Cathedral, heard even in the neighboring residential areas, led to the discovery of the bells of Sungsimdang in Eunhang-dong, located across the street. In this paper, the bells of Daeheung-dong Cathedral and Eunhang-dong Sungsimdang have characteristics of soundmarks according to R. Murray Schafer's soundscape sound category. Furthermore, this paper attempted to analyze the meaning of the two bells according to the relatively recent EU soundscape definition. These two bells are signal sounds at the surface level, but are the sound marks of the historic downtown area of Daejeon at the deep level. Although there are outward differences in size, scale, frequency, and famousness, these two bells share a meaning in terms of locality and good influence with the historicity and spatiality of a special relationship. The implication of this study is that the two places should be preserved as local historical and cultural assets not only as visual landmarks but also as sound marks in the urban regeneration or urban development of Jung-gu, Daejeon.

• Asia Marketing Journal
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• v.14 no.1
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• pp.53-81
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• 2012

Constructing attractive bundle offers depends on more than an understanding of the distribution of consumer preferences. Consumers are also sensitive to the framing of price information in a bundle offer. In classical economic theory, consumers' utility should not change as long as the total price paid stays same. However, even when total prices are identical, consumers' preferences toward a bundle product could be different depending on the format of price presentation and the locus of price discount. A weighted additive model predicts that the impact of a price discount on the overall evaluation of the bundle will be greater when the discount is assigned to the more important product in the bundle(Yadav 1995). Meanwhile, a reference dependent model asserts that it is better to assign a price discount to a tie-in component that has a negative valuation at its current offer price than to a focal product that has a positive valuation at its current offer price(Janiszewski and Cunha 2004). This paper has expanded previous research regarding price discount presentation format, investigating the reasons for mixed results of prior research and presenting new mechanisms for price discount framing effect. Prior research has hypothesized that bundling is used to sell a tie-in component with an offer price above the consumer's reference price plus a focal product of the same offer price with reference price(e.g., Janiszewski and Cunha 2004). However, this study suggests that bundling strategy can be used for increasing product's attractiveness through the synergy between components even when offer prices of bundle components are the same with reference prices. In this context, this study employed various realistic bundle sets with same price between offer price and reference price in the experiment. Hamilton and Srivastava(2008) demonstrated that when evaluating different partitions of the same total price, consumers prefer partitions in which the price of the high-benefit component is higher. This study determined that their mechanism can be applied to price discount presentation formats. This study hypothesized that price discount framing effect depends not on the negative perception of tie-in component with offer price above reference price but rather on the consumers' perceived consumption benefit in bundle product. This research also hypothesized that preference for low-benefit discount mechanism is that perceived consumption benefit reduces price sensitivity. Furthermore, this study investigated how consumers' concern for quality in a price discount--a factor not considered in previous research--influences price discount framing. Yadav(1995)'s experiment used only one magazine bundle of relatively low quality uncertainty and could not show the influence of perceived uncertainty of quality. This study assumed that as perceived uncertainty of quality increases, the price sensitivity mechanism for assigning the discount to low-benefit will increase. Further, this research investigated the moderating effect of uncertainty of quality in price discount framing. The results of the experiment showed that when evaluating different partitions of the same total price and the same amount of discounts, the partition that discounts in the price of low benefit component is preferred to the partition that decreases the price of high benefit component. This implies that price discount framing effect depends on the perceived consumption benefit. The results also demonstrated that consumers are more price sensitive to low benefit component and less price sensitive to high benefit component. Furthermore, the results showed that the influence of price discount presentation format on the evaluation of bundle product varies with the perceived uncertainty of quality in high consumption benefit. As perceived uncertainty of quality gradually increases, the preference for discounts in the price of low consumption benefit decreases. Besides, the results demonstrate that as perceived uncertainty of quality gradually increases, the effect of price sensitivity in consumption benefit also increases. This paper integrated prior research by using a new mechanism of perceived consumption benefit and moderating effect of perceived quality uncertainty, thus providing a clearer explanation for price discount framing effect.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.32 no.2
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• pp.68-81
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• 2014

This study was conducted to identify the spacialty, to illuminate the existence and values of Myeongwoldae(明月臺) and Forest Myeongwol, and to suggest the sustainable usage, preservation and management plans with the purpose of ecological and cultural landscaping characteristic and value identification. The result of the study is as follows. Castle Myeongwol and Port Myeongwol shows the status of Hallim-eup Myeongwol District which is the administrative center of western Jeju as well as is the fortress. Building Wolgyejeongsa and School Woohakdang, the head temple of education and culture, located in Myeongwol District represents the spaciality of Myeonwol-ri which was the center of education. Stand Myeongwol is one of the most representative Confucian cultural landscapes in Jeju Island and the field of communion with nature where scholars enjoy poetries, nature, changgi(Korean chess), and go in the Joseon Dynasty period. It was found that the current relics of Myeongwoldae was recovered through the maintenance project conducted by Youth Group Myeongwol composed with Hongjong-si(洪鍾時) as the center during the Japanese colonial era in 1931. It seems that the stonework of Myeongwoldae composed of three levels in the order of square, octagon, and circle based on the heaven-man unity theory of Confucianism and the octagon in the middle is the messenger of Cheonwonjibang(天圓地方), in other words, between the square-shaped earth and the circle-shaped sky. It is assumed that both Grand Bridge Myeongwol and Bridge Myeongwol were constructed as arched bridges in early days. Bridge Myeongwol is the only arched bridge remaining in Jeju Island now, which has the modern cultural heritage value. In Forest Myeongwol, 97 taxa of plants were confirmed and in accordance with 'Taxonomic Group and Class Criteria of Floristic Specific Plants', eight taxa were found; Arachniodes aristata of FD IV and Ilex cornuta, Piper kadsura, Litsea japonica, Melia azedarach, Xylosma congestum, Richosanthes kirilowii var. japonica, Dichondra repens, Viburnum odoratissimum var. awabuki of FD III. Otherwise, 14 taxa of naturalized plants including Apium leptophylihum which is imported to Jeju Island only were confirmed. In Forest Myeongwol, 77 trees including 41 Celtis sinensis, 30 Aphananthe aspera, two Wylosma congestum, a Pinus densiflora, a Camellia japonica, a Melia azedarach, and an Ilex cornuta form a colony. Based on the researched data, the preservation and plans of Myeongwoldae and Forest Myeongwol is suggested as follows. Myeongwoldae, Bridge Myeongwol, and Forest Myeongwol should be managed as one integrated division. Bridge Myeongwol, an arched bridge which is hard to be found in Jeju Island is a high-standard stonework requiring long-term preservation plans. Otherwise, Grand Bridge Myeongwol that is exposed to accident risks because of deterioration and needs safety diagnosis requires measures according to the result of precise safety diagnosis. It is desirable to restore it to a two-sluice arched bridge as its initial shape and to preserve and use it as a representative local landmark with Stand Myeongwol. In addition, considering the topophsis based on the analysis result, the current name of Jeju Special Self-Governing Province Monument No. 19 'Myoengwol Hackberry Colony' should change to 'Myeongwol Hackberry-Muku Tree Colony'. In addition, the serial number system which is composed without distinction of hackberry and muku tree should be improved and the regular monitoring of big and old trees, specific plants, and naturalized species is required.

• Economic and Environmental Geology
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• v.25 no.3
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• pp.337-349
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• 1992

The Tertiary basins in Korea have widely been studied by numerous researchers producing individual results in sedimentology, paleontology, stratigraphy, volcanic petrology and structural geology, but interdisciplinary studies, inter-basin analysis and basin-forming process have not been carried out yet. Major work of this study is to elucidate evidences obtained from different parts of a basin as well as different Tertiary basins (Pohang, Changgi, Eoil, Haseo and Ulsan basins) in order to build up the correlation between the basins, and an overall picture of the basin architecture and evolution in Korea. According to the paleontologic evidences the geologic age of the Pohang marine basin is dated to be late Lower Miocence to Middle Miocene, whereas other non-marine basins are older as being either Early Miocene or Oligocene(Lee, 1975, 1978: Bong, 1984: Chun, 1982: Choi et al., 1984: Yun et al., 1990: Yoon, 1982). However, detailed ages of the Tertiary sediments, and their correlations in a basin and between basins are still controversial, since the basins are separated from each other, sedimentary sequence is disturbed and intruded by voncanic rocks, and non-marine sediments are not fossiliferous to be correlated. Therefore, in this work radiometric, magnetostratigraphic, and biostratigraphic data was integrated for the refinement of chronostratigraphy and synopsis of stratigraphy of Tertiary basins of Korea. A total of 21 samples including 10 basaltic, 2 porphyritic, and 9 andesitic rocks from 4 basins were collected for the K-Ar dating of whole rock method. The obtained age can be grouped as follows: $14.8{\pm}0.4{\sim}15.2{\pm}0.4Ma$, $19.9{\pm}0.5{\sim}22.1{\pm}0.7Ma$, $18.0{\pm}1.1{\sim}20.4+0.5Ma$, and $14.6{\pm}0.7{\sim}21.1{\pm}0.5Ma$. Stratigraphically they mostly fall into the range of Lower Miocene to Mid Miocene. The oldest volcanic rock recorded is a basalt (911213-6) with the age of $22.05{\pm}0.67Ma$ near Sangjeong-ri in the Changgi (or Janggi) basin and presumed to be formed in the Early Miocene, when Changgi Conglomerate began to deposit. The youngest one (911214-9) is a basalt of $14.64{\pm}0.66Ma$ in the Haseo basin. This means the intrusive and extrusive rocks are not a product of sudden voncanic activity of short duration as previously accepted but of successive processes lasting relatively long period of 8 or 9 Ma. The radiometric age of the volcanic rocks is not randomly distributed but varies systematically with basins and localities. It becomes generlly younger to the south, namely from the Changgi basin to the Haseo basin. The rocks in the Changgi basin are dated to be from $19.92{\pm}0.47$ to $22.05{\pm}0.67Ma$. With exception of only one locality in the Geumgwangdong they all formed before 20 Ma B.P. The Eoil basalt by Tateiwa in the Eoil basin are dated to be from $20.44{\pm}0.47$ to $18.35{\pm}0.62Ma$ and they are younger than those in the Changgi basin by 2~4 Ma. Specifically, basaltic rocks in the sedimentary and voncanic sequences of the Eoil basin can be well compared to the sequence of associated sedimentary rocks. Generally they become younger to the stratigraphically upper part. Among the basin, the Haseo basin is characterized by the youngest volcanic rocks. The basalt (911214-7) which crops out in Jeongja-ri, Gangdong-myon, Ulsan-gun is $16.22{\pm}0.75Ma$ and the other one (911214-9) in coastal area, Jujon-dong, Ulsan is $14.64{\pm}0.66Ma$ old. The radiometric data are positively collaborated with the results of paleomagnetic study, pull-apart basin model and East Sea spreading theory. Especially, the successively changing age of Eoil basalts are in accordance with successively changing degree of rotation. In detail, following results are discussed. Firstly, the porphyritic rocks previously known as Cretaceous basement (911213-2, 911214-1) show the age of $43.73{\pm}1.05$ 및 $49.58{\pm}1.13Ma$(Eocene) confirms the results of Jin et al. (1988). This means sequential volcanic activity from Cretaceous up to Lower Tertiary. Secondly, intrusive andesitic rocks in the Pohang basin, which are dated to be $21.8{\pm}2.8Ma$ (Jin et al., 1988) are found out to be 15 Ma old in coincindence with the age of host strata of 16.5 Ma. Thirdly, The Quaternary basalt (911213-5 and 911213-6) of Tateiwa(1924) is not homogeneous regarding formation age and petrological characteristics. The basalt in the Changgi basin show the age of $19.92{\pm}0.47$ and $22.05{\pm}0.67$ (Miocene). The basalt (911213-8) in Sangjond-ri, which intruded Nultaeri Trachytic Tuff is dated to be $20.55{\pm}0.50Ma$, which means Changgi Group is older than this age. The Yeonil Basalt, which Tateiwa described as Quaternary one shows different age ranging from Lower Miocene to Upper Miocene(cf. Jin et al., 1988: sample no. 93-33: $10.20{\pm}0.30Ma$). Therefore, the Yeonil Quarterary basalt should be revised and divided into different geologic epochs. Fourthly, Yeonil basalt of Tateiwa (1926) in the Eoil basin is correlated to the Yeonil basalt in the Changgi basin. Yoon (1989) intergrated both basalts as Eoil basaltic andesitic volcanic rocks or Eoil basalt (Yoon et al., 1991), and placed uppermost unit of the Changgi Group. As mentioned above the so-called Quarternary basalt in the Eoil basin are not extruded or intruaed simultaneously, but differentiatedly (14 Ma~25 Ma) so that they can not be classified as one unit. Fifthly, the Yongdong-ri formation of the Pomgogri Group is intruded by the Eoil basalt (911214-3) of 18.35~0.62 Ma age. Therefore, the deposition of the Pomgogri Group is completed before this age. Referring petrological characteristics, occurences, paleomagnetic data, and relationship to other Eoil basalts, it is most provable that this basalt is younger than two others. That means the Pomgogri Group is underlain by the Changgi Group. Sixthly, mineral composition of the basalts and andesitic rocks from the 4 basins show different ground mass and phenocryst. In volcanic rocks in the Pohang basin, phenocrysts are pyroxene and a small amount of biotite. Those of the Changgi basin is predominant by Labradorite, in the Eoil by bytownite-anorthite and a small amount pyroxene.

• Journal of the Daesoon Academy of Sciences
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• v.33
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• pp.31-62
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• 2019

The purpose of this article is to study on the Daesoon Cosmology of the Correlative Relation between Mugeuk and Taegeuk. Daesoon cosmology is a cosmology based on the juxtaposition between the Gucheon Sangje and the world. In this article, I would like to say that this theory in Daesoon Thought was developed in three stages: the phase of the Mugeuk Transcendence of Gucheon Sangje, the stage of the Taegeuk Immanence, and the phase of the Grand Opening of the Later World between Mugeuk and Taegeuk as a correlative gentle reign. First of all, the phase of the Mugeuk Transcendence of Gucheon Sangje has been revealed as a yin-yang relationship. The stage of the Taegeuk Immanence represents the togetherness of harmony and co-prosperity between yin and yang, and the phase of the Grand Opening of the Later World between Mukeuk and Taegeuk refers to the unshakable accomplishment of its character and energy. It will be said that this is due to the practical mechanism in the correct balance of yin-yang making a four stage cycle of birth, growth, harvest, and storage. In addition, the Daesoon stage of the settlement of yin and yang is revealed as a change in the growth of all things and the formation of the inner circle. The mental growth reveals the characteristics of everything in the world, each trying to shine at the height of their own respective life as they grow up energetically. The dominant culture of cerebral communion renders a soft and elegant mood and combines yin and yang to elevate the heavenly and earthly period through transcendental change into sympathetic understanding. The stage of the Grand Opening of the Later World between Mugeuk and Taegeuk is one of the earliest days of the lunar month and also the inner circle of Taegeuk. It is in line with Ken Wilbur's integrated model as a step to the true degrees to develop into a world with brightened degrees. It is a beautiful and peaceful scene where celestial maidens play music, the firewood burns, and the scholars command thunder and lightning playfully. Human beings achieve a state of happiness as a free beings who lives as gods upon the earth. This is the world of theGrand Opening of the Later World between Mugeuk and Taegeuk. Daesoon Thought was succeeded by Dojeon in 1958, when Dojeon emerged as the successor in the lineage of religious orthodoxy and was assigned the task of handling Dao in its entirety. In addition, Daesoon is a circle and represents freedom and commonly shared happiness among the populous. Cosmology in the Daesoon Thought will enable us to understand deep dimensions and the identity of members as individuals within an inner circle of correlation between transcendence and immanence. This present study tries to analyze the public effects philologically and also the mutual correlation by utilizing the truthfulness of literature and rational interpretation. The outlook for the future in Daesoon Thought also leads to the one-way communication of Daesoon as a circle.