• Korea Trade Review
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• v.41 no.3
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• pp.1-25
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• 2016

This study reviews international discussions about the trade-labor linkage and examines the labor chapters of FTAs enforced by the US and the EU from a comparative perspective. Since early 1990s, starting from the NAFTA, the US has included forceable labor provisions in its FTAs and this trend continues to the TPP which was concluded in October 2015. On the other hand, the EU's labor provisions in its FTAs have been composed of promotional elements on labor rights based on cooperations and dialogues. These different features of labor provisions in the US and European FTAs are mainly due to the motives of the FTAs of the US and the EU respectively as well as their domestic situations with regards to domestic law and institutional set-ups. The coordination of labor provisions involves a long-term institutional as well as regulatory convergence which triggers not only economic but also social changes, compared to a relatively short-term effect of tariff elimination. For Korea which has been a FTA partner country both with the US and the EU, it is significant to keep the different characteristics in the labor provisions in mind, particularly in the process of its implementation. Concerning the implementation of Korea-US FTA, it might be problematic if Korean law and its regulatory practice on labor-management relations do not comply with that of the US. The Korea-EU FTA case can also have an indirect impact on Korea's labor laws since it stipulates in its provisions that both parties should have discussions not only within each government but also with the civil communities including NGOs. Thus, Korea should pay more attention to the true meaning in labor provisions of both FTAs in order to promote its firms to be equipped with the right labor-management system in their operations abroad.

• Journal of Power System Engineering
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• v.20 no.5
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• pp.20-28
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• 2016

This study has developed an organic/inorganic hybrid solution by addition of $SiO_2$ polysilicate and Melamine to the urethane. The three types of cold rolled steel were evaluated a corrosion resistance properties by using these solutions. The urethane solution(U) and the urethane solution with $SiO_2$ polysilicate($US_7$) were generate a lot of corrosion. The urethane solution with $SiO_2$ polysilicate and melamine($US_7M_3$) was excellent in corrosion resistance, regardless of the steel type. In addition, corrosion resistance has been shown to depend on the tensile strength. The appearance of coating by U and $US_7$ solution is bumpy surface, and were a lot of fine defects. $US_7M_3$ solution is made a sophisticated molecular cross-linking structure inside the coating, it was a slick surface. Other characteristics are exhibited the excellent property for all solutions.

• Economic Analysis
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• v.27 no.1
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• pp.1-36
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• 2021

Given the US dollar's status as a global safe haven, global factors, such as US monetary policy, may have considerable impacts on financial markets in other countries. Regarding such hypothesis, this paper looked at the impacts of US monetary policy on domestic bond and FX swap markets through an event study. According to our analysis, US monetary policy had significant positive impacts on domestic interest rates. In particular, it turned out to have bigger impacts on long-term products with high term premiums. By period, the correlation between US monetary policy and domestic interest rates was not significant before the financial crisis, but was clearly positive after the crisis. The US conventional monetary policy was seen to have big impacts on short-term and medium-term KTB yields, while its unconventional monetary policy had major impacts on long-term KTB yields. Moreover, FX swap rates reacted very sensitively to US monetary policy shocks before the financial crisis, while they did not show any significant reactions after the crisis. This suggests that, in line with the covered interest rate parity, the impact of US monetary policy shocks was transmitted to domestic financial markets mainly through swap rate adjustments before the global financial crisis, but through the changes in domestic interest rates during the post-crisis period.

• Communications for Statistical Applications and Methods
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• v.31 no.1
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• pp.105-127
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• 2024

We propose recurrent neural network (RNN) methods for forecasting realized volatility (RV). The data are RVs of ten major stock price indices, four from the US, and six from the EU. Forecasts are made for relative ratio of adjacent RVs instead of the RV itself in order to avoid the out-of-scale issue. Forecasts of RV ratios distribution are first constructed from which those of RVs are computed which are shown to be better than forecasts constructed directly from RV. The apparent asymmetry of RV ratio is addressed by the Piecewise Min-max (PM) normalization. The serial dependence of the ratio data renders us to consider two architectures, long short-term memory (LSTM) and gated recurrent unit (GRU). The hyperparameters of LSTM and GRU are tuned by the nested cross validation. The RNN forecast with the PM normalization and ratio transformation is shown to outperform other forecasts by other RNN models and by benchmarking models of the AR model, the support vector machine (SVM), the deep neural network (DNN), and the convolutional neural network (CNN).

• Korea Trade Review
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• v.43 no.5
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• pp.47-66
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• 2018

This study analyzes the potential economic effects of a trade war between the U.S. and China. The CGE model is used to estimate the macroeconomic variables of each country and the change in imports/exports by industry by considering three different scenarios: (i) the US imposes a 25% of tariff on China; (ii) the US and China impose a 25% tariff bilaterally; (iii) the United States expands protection in vehicles and metals to Korea, Japan, and the EU. According to the results of the study, when the US and China initiate a trade war, GDP and welfare of both countries decline. China's decline in GDP and welfare are larger than those of the United States, which implies a trade war is more favorable to the U.S. than to China. In the long run, China's GDP and welfare decline widens further. While the trade volumes of the US and China are greatly reduced, the trade volumes of other countries does not significantly fluctuate. Finally, if the US extends protection policy to Korea, Japan and the EU, it creates undesirable effects on the US. In particular, damage to the US jeopardizes its advantageous position in a trade war with China. In order to emphasize the unfairness of protectionist policy and the damage to Korean industry, Korea needs to establish a strategy to counter US protectionist policy.

• Journal of the Korean Society of Radiology
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• v.83 no.4
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• pp.876-886
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• 2022

Purpose To evaluate the performance of MicroPure US imaging to detect and characterize microcalcifications. Materials and Methods A total of 171 lesions with suspicious microcalcifications seen on mammography and B-mode US were included and simultaneously evaluated using MicroPure US imaging. The size of microcalcifications was divided into small (punctate, amorphous, fine pleomorphic, and fine linear) and large (coarse heterogeneous), and the extent was divided into narrow (grouped) and wide (others). MicroPure US imaging visibility was divided into four types based on the number of microcalcifications on the two images: B > M (more on B-mode), B = M (similar), B < M (more on MicroPure), and negative. Triple pairwise comparison was used to evaluate the imaging features according to the MicroPure US imaging visibility. Results Among the 171 lesions examined, 157 lesions (91.8%) were detected by MicroPure US imaging. The proportion of Breast Imaging Reporting and Data System (BI-RADS) category 4A was significantly higher in the MicroPure positive group, and that of category 4B was significantly higher in the MicroPure negative group (p = 0.035). The other imaging features did not differ. Among the positive MicroPure subgroups, all features showed no significant difference. Conclusion MicroPure US imaging demonstrated 91.8% positivity in detecting microcalcifications on B-mode US. MicroPure US imaging visibility correlated with the BI-RADS category of microcalcifications.

• International Commerce and Information Review
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• v.16 no.5
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• pp.409-433
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• 2014

In this paper, I estimate long-run elasticities of US real GDP and real exchange rate between Korean Won and US Dollar on export of Korean goods to US and analyze changes in their trend by using VECM and rolling regression with a fixed window. For the purposes I use the year data from 1990 to 2013 which are selected from UNCTAD, Korea Trade Association(KTA), and Bank of Korea(BOK). The results are that the long-run elasticities of US real GDP vary from 2.849 to 2.938 for the period from 1990 to 2013 depending on the models in VECM and all of them are significant statistically. The elasticities of real exchange rate between Korean WON and US Dollar vary from 0.962 to 0.967 for the same period depending on the models in VECM and all of them are significant statistically. In case of the results through the OLS and the rolling regression, the long-run elasticities of US. real GDP are 3.015 for Basic Model, 2.949 for the modified Model 1, and 2.125 for the modified Model 2 for the period from 1990 to 2013 depending on the models and all of them are significant statistically. The average of long-run elasticities of real US GDP before the global financial crisis of 2008 is greater than that after the global financial crisis of 2008. On the other hand, the long-run elasticities of real exchange rate between Korean WON and US $ are 0.347 for Basic Model, 0.566 for the modified Model 1, and -0.217 for the modified Model 2 for the same period and all of them are significant statistically except for the modified Model 2. The average of long-run elasticities of real exchange rate before the global financial crisis of 2008 is greater than that after the global financial crisis of 2008.

• Journal of the Korea Organic Resources Recycling Association
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• v.29 no.3
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• pp.35-40
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• 2021

In order to investigate the degree of solubilization of sewage sludge using sono-activated persulfate(UV/PP), VSS reduction rate, solubilization rate and extracellular polymeric substances were measured. Ultrasonic(US) and alkali·ultrasonic method using sodium hydroxide(US/SH) were compared. Under the persulfate·ultrasonic conditions, the VSS reduction rate and the solubilization rate increased to 27.6% and 58.9%, respectively. TB-EPS as Carbohydrate and Protein were extracted by 770 mg/L and 2,162 mg/L. Compared to the other methods, US and US/SH, the VSS reduction rate and solubilization rate were higher. And also, according to the TB-EPS values, cell wall destruction was more efficient.

• Fashion & Textile Research Journal
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• v.18 no.3
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• pp.301-316
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• 2016

Due to the dramatic increase in consumers' price sensitivity and growing importance for global retailers to create relevant price strategies, this study investigates the global pricing strategy of the main SPA brands such as ZARA, H&M and UNIQLO. Based on price information shown on official website, the study developed SPA brand index by using exchange rates in terms of US dollars and ratio of differences between the local price and the US price. These figures were compared with GDP per person data in order to analyze each brand's price level against the income level. The study also compared SPA brand index with Big Mac index to identify the difference in price levels between the fast fashion market and the fast food market. ZARA and H&M were mostly targeting Middle East and Asia as a high-price market when considering index only. After taking the income level into account, however, Asia came out be the highest price market and Middle East was similar to the US market. On the other hand, UNIQLO targeted Asia as the lowest price market and the US and EU as the highest in terms of index only. But, Asia came out to be the highest price zone after considering the income level while the price of the US and EU was reasonable. Comparison with Big Mac Index indicated that most of Asia had a higher price level of the fashion market than the food market, whereas most European countries had a similar or high-price level of food market.

• Korean Journal of Veterinary Research
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• v.39 no.2
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• pp.294-300
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• 1999

In this study PRRSV was isolated from serum of an infected pig and designated as CNV-1, ORF4 gene was sequenced, and the nucleotide sequence, deduced amino acid sequence and the amino acid sequence of the neutralizing domain was compared with other PRRSV Strains. ORF4 gene of the Korean isolate PRRSV CNV-1 was shown to be 537bp in length, which is the same as US strain ISU55 but 21bp longer than another US strain MN1b, and 15bp shorter than European strain LV. The homologies of the nucleotide sequences between the Korean isolate CNV-1 and the US strains ISU55, MN1b and European strain LV were 91.8%, 88.1%, 67.6%, respectively, and the homologies of the deduced amino acid sequences were 94.4%, 84.4%, 68.5%, respectively. The neutralizing domain of the CNV-1 was shown to be 36 amino acids in length which is the same as ISU55, MN1b, but 4 amino acids shorter than that of the neutralizing domain reported in LV. The homologies of the amino acid sequences of the neutralizing domain between the Korean isolate CNV-1 and the US strains ISU55, MN1b and European strain LV were 92.5%, 85%, 57.5%, respectively. The molecular characteristics of ORF4 gene of the Korean isolate PRRSV CNV-1 shown in this study suggests that the CNV-1 is genetically closer to the US strains. Also the wide variation of the neutralizing domain between the CNV-1 and LV suggests that there is substantial immunogenic variation between the two strains.