• Horticultural Science & Technology
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• v.30 no.2
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• pp.178-184
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• 2012

This study was carried out to decide ITS (internal transcribed spacer) sequence of some Korean native $Aster$ species and to resolve their relationship among Korean native $Aster$, including $Kalimeris$, $Gymnaster$, $Heteropappus$ genus separated from $Aster$ in a previously study based on the pappus length. We registered 11 ITS sequences of $Aster$ species including $A.$ $glehni$ to GenBank and those sequences were used for the cluster analysis with $Kalimeris$ species. The size of ITS1 was varied from 248 to 256 bp, while ITS2 was varied from 220 to 222 bp. The G + C content of the ITS region ranged from 49.4 to 53.5%. Pairwise comparison results showed that the substitution rate of ITS1 and ITS2 region was 9% and 10%, respectively. $Kalimeris$ sensu strict substitution rate was lower than that of $Aster$ sensu strict species. The strict consensus parsimonious cluster analysis showed $A.$ $tripolium$ is the first branching from the clade and the next is $A.$ $scaber$. The $Kalimeris$ species except for the $A.$ $hispidus$ were grouped into the same clade with high bootstrap value (91%) within $Aster$. $Gymnaster$ and $Heteropappus$ that has been classified by morphological characters were also grouped into broad sense $Aster$ clade. These results implied these three genera could be merged together into $Aster$ based on the ITS sequences.

• KDI Journal of Economic Policy
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• v.32 no.4
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• pp.1-34
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• 2010

We conduct a comprehensive risk analysis of household debt in Korea for the first time using the whole sample credit bureau (CB) data of 2.2 million individual debtors. After analysing debt service capacity profiles of debtor groups classified by the borrower characteristics such as income, age, occupation, credit scoring, and the type of creditor business companies, we investigate the impact of interest rate and income changes on debt service-to-income ratios (DTIs) and default rates of respective debtor groups. Empirical results indicate that debt service burdens are relatively high for low income wage earners, high income self-employed, low income capital and card loan holders, and high income mutual savings loan holders. We also find that debtors from multiple financial companies are particularly weak in their debt service capacity. The scenario analysis indicates that financial companies, with the current level of capital buffers, may be able to absorb negative consequences arising from the increase in DTIs and loan default rates if the interest rate and income changes remain modest. However, the negative consequences may fall disproportionately on non-bank financial companies such as capital, credit card, and mutual savings banks, whose debtors' DTIs are already high. We also find that the refinancing risk of household debt is relatively high in Korea as more than half of household mortgage debts are bullet loans. As the DTIs of mortgage loan holders are already high, under the current DTI regulation, mortgage loans may not be readily refinanced especially when the interest rate rises. Disruptions in mortgage loan refinancing may put downward pressure on housing prices, which may in turn magnify refinancing risk under the current loan-to-value (LTV) regulation. Overall our analysis suggests that, for more effective monitoring of household debt risk, it is necessary to combine existing surveillance schemes based on macro aggregate indicators with more comprehensive and detailed risk analyses based on micro individual data.

• The Korean Journal of Financial Management
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• v.22 no.1
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• pp.71-91
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• 2005

The object or this paper is to analyze the rollover effect on KOSPI 200 index option prices. Especially we analyze the implied volatilities of the options that became the near maturity options as the old one expired. For this analysis, a panel data of KOSPI 200 Index Option Prices from year 1999 to year 2001 were used, and following results were obtained. First, after controlling for the underlying index returns, strike prices and other pricing factors, the call option prices tend to decrease while the put option prices tend to increase during the week of expiry. Second, if one concentrates on the daily price changes, call option prices tend to go up on Thursday (as the old options expire), and then experience a price decrease on the following day, while the reverse is true for the put options. These results imply that the option prices are affected by some of the market micro-structure effects such as whether the option is the near maturity option. We conjecture that the reason for this is related to the undervaluation of KOSPI 200 futures. The results from this paper have implications on the timing of option trades. If one wants to buy put options, and/or sell call options, he has better off by executing his intended trades before the old options expire. On the other hand, if one wants to buy call options, and/or sell put options, hi has better off by executing his intended trades after the expiry.

• 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.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.36 no.3
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• pp.37-47
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• 2018

This study was attempted to understand present status and characteristics of landscape components of the domestic Korean Gugokwonlim created by the classical scholars in the Joseon Dynasty. The results are as follows. First, Distribution of Gukokwonlim in Korea shows that 55(51.4%) are located in Daegu and Gyeongsangbuk-do, and 22(20.56%) are located in Chungcheongbuk-do. Concentrated locations of Gugok are on the part of Baekdudaegan, from Sobaeksan mountain to Sokrisan mountain via Wolaksan mountain, and the Nakdong River basin of the Nakdong vein in the right bank. This consideration seems to be closely related to the academy of Yeongnam Confucianism and the their trend of Wonrim enjoyment. Second, according to the result of examining the distribution of Gugok according to the basic local government authority, The biggest number of the Gugok places(10 places, 9.35%) are located in Andong, which is called 'the capital of Korean spiritual culture.' Additionally in order, 9 places(9.45%) is located in Goesan, 8 places(7.48%) in Mungyung, 6 places(5.61%) in Bonghwa, and 5 places(4.67%) in Yeongju. Third, in order to the creating time of Gugokwonlim, 33 (33.0%) were created in $18^{th}$ century, and other 33 (33.0%) were created in $19^{th}$ century. In addition, 14 were created during $20^{th}$ century, while 13 were created in $17^{th}$ century. And 4 were created in $16^{th}$ century. Respectively. great number of $18^{th}$ and $19^{th}$ centuries shows that many(66.0%) Gugokwonrim were created between late 18th to 19th centuries. Fourth, There were 97(90.65%) of 'Gugok' in the form of collecting type, and a total number of bottom-up style Gugok were 99(92.5%) while top-down style Gugok were 8(7.5%). Fifth, Among the contents of Gugok, 67 were found in pome of Gugok(64.49%), 29 caved letters in rock(27.10%), and 16 in painting of Gugok(14.95%). Sixth, The most emerged landscape components of Gugok was Dae(臺) 124(13.05%), followed by Am(巖) 115[11.2%, including of Am(岩)] 115(11.2%), and Dam(潭) 73(7.68%), Jeong(亭) 48(5.05%), Dong(洞) 39(4.10%), San(山) 36(3.78%), Am(岩, rocks) 31(3.26 %), Bong(峯, peaks) 27(2.84%), Yeon(淵) 23(2.42%) and Chun(川) and Tan(灘) 22(2.31%). Mostly, common landscape components of Gugok are entrusted natural things. It is expected that more studies about the analysis of characteristics of Gugok's positioning types considering total distance and a gradient are required to understand more clearly characteristics and location distribution of true Gugok and its landscape components.

• Journal of the Economic Geographical Society of Korea
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• v.20 no.1
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• pp.1-15
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• 2017

This paper analyzes empirically how the three main industries (petrochemical industry, shipbuilding industry, automobile industry) that are driving the growth of Ulsan region in 2005~2013 have grown by what factors. For this purpose, we investigate the structural changes of the three main industries by using regional input-output tables announced by the Bank of Korea and examine the growth contribution rate of each industry that is divided into domestic final demand, export demand, import substitution for final goods, import substitution for intermediate goods and technological change, respectively. The growth rate of gross output and aggregate demand in petrochemical and automobile industries increased in 2010-1013 compared to 2005-2010, but the growth rate of gross output and aggregate demand in shipbuilding industry slowed down. As a result of analysis of factors contributing to the increase in gross output of the three main industries, export demand has the greatest effect. By industry, the rate of growth contribution of export demand in petrochemical industry is recorded as 209.23% in 2005-2010 and 113.78% in 2010-2013, respectively. The rate of growth contribution of export demand in automobile industry is recorded as 258.72% in 2005-2010 and 72.69% in 2010-2013, respectively. On the other hand, the rate of growth contribution of export demand in shipbuilding industry is recorded as 94.47% in 2005-2010, but it decreased to -255.32% in 2010-2013. Analysis of growth factors of Ulsan's three main industries is expected to serve as the basis for reorganizing related industrial policies and establishing them.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.3
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• pp.125-140
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• 2018

According to statistics, it is shown that domestic SMEs rely on bank loans for the majority of fund procurement. From financial information shortage (Thin file) that does not provide information necessary for credit evaluation from banks such as financial statements. In order to overcome these problems, recently, in alternative finance such as P2P, using differentiated information such as demographics, trading information and the like utilizing Fintech instead of existing financial information, small funds A new credit evaluation method has been expanding to provide SMEs with small amounts of money. In this paradigm of environmental change, in this research, credit evaluation which can expand fund supply to SMEs by utilizing big data based on trade area information such as sales fluctuation, location conditions etc. In this research, we try to find such a solution. By analyzing empirically the big data generated in the trade area, we verify the effectiveness as a credit evaluation factor and try to derive the main parameters necessary for the business performance evaluation of the founder of SMEs. In this research, for 17,116 material businesses in Seoul City that operate the service industry from 2009 to February 2018, we collect trade area information generated for each business location from Big Data specialized company NICE Zini Data Co., Ltd.. We collected and analyzed the data on the locations and commercial areas of the facilities that were difficult to obtain from SMEs and analyzed the data that affected the Corporate financial Distress. It is possible to refer to the variable of the existing unused big data and to confirm the possibility of utilizing it for efficient financial support for SMEs, This is to ensure that commercial lenders, even in general commercial banks, are made to be more prominent in one sector of the financing of SMEs. In this research, it is not the traditional financial information about raising fund of SMEs who have basically the problem of information asymmetry, but a trade area analysis variable is derived, and this variable is evaluated by credit evaluation There is differentiation of research in that it verified through analysis of big data from Trading-area whether or not there is an effect on.

• Journal of The Korean Association For Science Education
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• v.40 no.4
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• pp.385-398
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• 2020

This study aims to examine genetics problem-solving processes of high school students with different learning approaches. Two second graders in high school participated in a task that required solving the complicated pedigree problem. The participants had similar academic achievements in life science but one had a deep learning approach while the other had a surface learning approach. In order to analyze in depth the students' problem-solving processes, each student's problem-solving process was video-recorded, and each student conducted a think-aloud interview after solving the problem. Although students showed similar errors at the first trial in solving the problem, they showed different problem-solving process at the last trial. Student A who had a deep learning approach voluntarily solved the problem three times and demonstrated correct conceptual framing to the three constraints using rule-based reasoning in the last trial. Student A monitored the consistency between the data and her own pedigree, and reflected the problem-solving process in the check phase of the last trial in solving the problem. Student A's problem-solving process in the third trial resembled a successful problem-solving algorithm. However, student B who had a surface learning approach, involuntarily repeated solving the problem twice, and focused and used only part of the data due to her goal-oriented attitude to solve the problem in seeking for answers. Student B showed incorrect conceptual framing by memory-bank or arbitrary reasoning, and maintained her incorrect conceptual framing to the constraints in two problem-solving processes. These findings can help in understanding the problem-solving processes of students who have different learning approaches, allowing teachers to better support students with difficulties in accessing genetics problems.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.6
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• pp.111-122
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• 2016

Support and efforts are being strengthened at the national level for entrepreneurial activities that are expected to revitalize our economy. Generally, according to the previous studies, it is known that entrepreneurship positively affects economic growth and the reduction of unemployment rate through employment creation. The analysis of the impact of entrepreneurial activities on economic growth and job creation is mainly based on national comparative analysis. In this paper, however, the impact of start-up activities in the Busan metropolitan city on regional economic growth and employment improvement. In this study, the dummy variables were assigned to firms within three years, five years, and ten years after start-up according to the period since the start-up of the firm. As a result of the empirical analysis, the value of dummy variable of the start - up firms was found to be significant in the analysis of the sales growth rate as the dependent variable according to the preceding study by Evans(1987). Therefore, it can be seen that the growth rate of the start - up company is higher than that of the other companies and it is positive for the regional economic growth. In addition, the coefficient of the dummy variable decreases from the enterprise analysis to the latter within three years, five years, and ten years after the start-up, and confirms that the coefficient of the firm's start-up years has a negative value. I could see more clearly. On the other hand, in the analysis of the effect of start-up firms on unemployment rate reduction, the growth rate of regular workers was higher than that of other firms. This suggests that it positively affects the reduction of the unemployment rate in the region. In addition, in the dynamic analysis using the Almon estimation formula and the Koyck model, the effect of log-transformed net start-up firms on the growth rate of new workers is very significant. As a result of the above model, It is reaffirmed that start-up activity has a positive effect on employment growth.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.5
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• pp.77-98
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• 2020

Recently, the government provided about 35 trillion won to start-ups through a large amount of start-up support funds from the Korea Credit Guarantee Fund and the Korea Development Bank, and more than 100 trillion won to start-ups over the past three years.(2015-2018) The Ministry of SMEs and Startups announced that a total of 1.4517 trillion won will be supported by 16 ministries (90 projects) after surveying start-up support projects by ministries in 2020 to create a start-up country. Indeed, among the budgets supported by the Ministry of SMEs and Startups, startups accounted for 85%, while scale-ups (growth and maturity) were only 15%. However, the survival rate of Korean start-ups was far lower than that of developed countries. The survival rate for the three years after the start-up was 39.1 percent, with only about 4 out of 10 surviving, with 27.5 percent surviving for five years, and only 3 out of 10 surviving. On the other hand, overseas start-ups have a survival rate of twice as high as that of Korea for five years. Accordingly, this study aims to empirically analyze and examine the need for research on nascent entrepreneurs, which have recently been actively supported by the government, as well as the impact of start-up motivation and start-up preparation on the intention to continue business. The survey was conducted from April 1 to May 15, 2020 for nascent entrepreneurs nationwide, and 222 of the total 245 copies were analyzed, and the questionnaire was measured using the Likert 5-point scale. As a result of the analysis, first, all factors constituting start-up motivation were adopted by significantly affecting start-up satisfaction. In addition, among the sub-factors of nascent entrepreneurs' preparation, item preparation was adopted as a significant influence on start-up satisfaction. Second, the nascent entrepreneurs' satisfaction level was adopted by having a significant impact on the business continuity. Third, some of the motivations for self-realization of the motivation for start-ups were adopted by having a significant impact on the business continuity. In addition, the preparation of items for the start-up preparation of nascent entrepreneurs was partially adopted as they had a significant impact on the business continuity. Fourth, it was adopted by the mediation effect of start-up satisfaction between the motivation of the nascent entrepreneurs' preparation and the business continuity. In addition, it was adopted by the medium effect of start-up satisfaction between the nascent entrepreneurs' preparation and the business continuity. Based on the results of these studies, it is intended to draw practical implications, and to provide useful policy implications to increase nascent entrepreneurs' satisfaction and continue to carry out their start-ups.