• Economic Analysis
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• v.27 no.3
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• pp.1-32
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• 2021

This study empirically analyzes whether bank capital channel and risk-taking channel for monetary policy work for domestic banks in South Korea by analyzing the impact of the expansionary monetary policy on the rate spread between deposit and loan, capital ratio, and loan amount. For the empirical analysis, the Uhlig (2005)'s sign-restricted SVAR(Structural Vector Auto-Regression) model is used. The empirical results are as follows: the bank's interest rate margin increases, the capital ratio improves, risk-weighted asset ratio increases, and the amount of loans increases in response to expansionary monetary shock. This empirical results confirm that bank capital channel and risk-taking channel work in domestic banks, similar to the previous research results. The implications of this study are as follows. Although the expansionary monetary policy has the effect of improving the bank's financial soundness and profitability in the short term as bank capital channel works, it could negatively affect the soundness of banks by encouraging banks to pursue risk in the long run as risk-taking channel works. It is necessary to note that the capital ratio according to the BIS minimum capital requirement of individual banks may cause an illusion in supervising the soundness of the bank. So, the bank's aggressive lending expansion may lead to an inherent weakness in the event of a crisis. Since the financial authority may have an illusion about the bank's financial soundness if the low interest rate persists, the authority needs to be actively interested in stress tests and concentration risk management in the pillar 2 of the BIS capital accord. In addition, since system risk may increase, it is necessary to conduct regular stress tests or preemptive monitoring of assets concentration risk.

• Analytical Science and Technology
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• v.19 no.1
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• pp.96-102
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• 2006

Trimethylamine (TMA) is one of the difficult odorous compounds for the collection and analysis. Although sulfuric acid absorption and/or sulfuric acid impregnated filter method are commonly recommended for its sampling, these methods also suffer from difficulties involved in sample treatment and operational procedures. Hence, as an ancillary approach to measure TMA, we investigated the combination of bag sampling and SPME analysis for TMA measurements. For the purpose of our study, we investigated the following three subjects: 1) temporal variability of standard storage, 2) bag loss effect of TMS, and 3) TMA loss due to repetitive analysis of an identical bag sample. According to our storage test up to 7 or 20 dyas, TMA loss were found to occur up to 40 to 50% within relatively short period of up to 48 hrs depending on its concentration ranges. When the tests were made for bag loss by transferring TMA standards across different size bags, we were able to find that the extent of bag loss are not significant with 5 to 20% loss rate. Finally, the TMA sorptive loss via its exposure to SPME fiber was generally estimated to run from 2 to 3%.

• The Journal of the Convergence on Culture Technology
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• v.9 no.6
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• pp.365-370
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• 2023

Royalty contributed to the development of the non-fungible token (NFT) ecosystem as a reward system that pays a portion of the sales to the creator whenever transactions occur. This study quantitatively analyzes the impact of the abolition of royalties, which is being expanded by some NFT marketplaces, on the NFT market, and qualitatively analyzes the results of the impact. The analysis results are as follows. First, the number of NFT mints is decreasing by causing creators to leave the NFT market and reducing new entry. Second, major NFT projects have refused to trade with marketplaces that have abolished royalties, leading to a decrease in the number of transactions. Third, the abolition of royalties has undermined the motivation of NFT creators to continue to develop their projects, leading to a drop in NFT floor prices. This study is expected to contribute to reducing the current negative impact in the short term by suggesting how the NFT community provides incentives to owners who voluntarily pay royalties independently of the policy of the NFT marketplace. In addition, it suggests that in the long run, fundamental solutions to the problem of abolishing royalties require improvements in technology related to royalty payments, cooperation between NFT marketplaces and NFT creators, and institutional support related to royalties.

• Journal of the Korea Society of Computer and Information
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• v.29 no.4
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• pp.183-189
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• 2024

Against the backdrop of IMO's stricter environmental regulations due to global warming, Europe's Fit for 55 plan, and other initiatives, the establishment of infrastructure for the supply of environmentally friendly marine fuels and policy analysis are more critical than ever. This study comprehensively analyzes existing research and policies on the supply of environmentally friendly marine fuels, as well as trends in regulations, industry responses, and the current status of infrastructure for the supply of environmentally friendly fuels, to draw insightful conclusions. The results show that the establishment of infrastructure for the supply of environmentally friendly fuels is as important as the introduction of environmentally friendly ships, due to the strengthening of environmental regulations. LNG is a viable option in the short term, but a transition to carbon-free fuels is necessary in the long run. In this regard, a strategic approach is needed to focus support on fuels that are advantageous to produce, considering domestic industrial conditions from a long-term perspective. Therefore, the government should actively promote infrastructure development through measures such as supporting the development and supply of environmentally friendly fuels, improving regulations and providing incentives, attracting private investment, and strengthening international cooperation. This study is expected to serve as a valuable resource for setting policy directions for the transition to an environmentally friendly maritime industry. Future research will include a comparative analysis of the economic viability of environmentally friendly fuels and basic research on the selection of fuels that are advantageous to Korea.

• Korean Journal of Agricultural and Forest Meteorology
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• v.10 no.4
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• pp.121-131
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• 2008

This study was conducted to delineate temporal and spatial patterns of potential risk of cold injury by combining the short-term cold hardiness of Campbell Early grapevine and the IPCC projected climate winter season minimum temperature at a landscape scale. Gridded data sets of daily maximum and minimum temperature with a 270m cell spacing ("High Definition Digital Temperature Map", HD-DTM) were prepared for the current climatological normal year (1971-2000) based on observations at the 56 Korea Meteorological Administration (KMA) stations using a geospatial interpolation scheme for correcting land surface effects (e.g., land use, topography, and elevation). The same procedure was applied to the official temperature projection dataset covering South Korea (under the auspices of the IPCC-SRES A2 and A1B scenarios) for 2071-2100. The dormancy depth model was run with the gridded datasets to estimate the geographical pattern of any changes in the short-term cold hardiness of Campbell Early across South Korea for the current and future normal years (1971-2000 and 2071-2100). We combined this result with the projected mean annual minimum temperature for each period to obtain the potential risk of cold injury. Results showed that both the land areas with the normal cold-hardiness (-150 and below for dormancy depth) and those with the sub-threshold temperature for freezing damage ($-15^{\circ}C$ and below) will decrease in 2071-2100, reducing the freezing risk. Although more land area will encounter less risk in the future, the land area with higher risk (>70%) will expand from 14% at the current normal year to 23 (A1B) ${\sim}5%$ (A2) in the future. Our method can be applied to other deciduous fruit trees for delineating geographical shift of cold-hardiness zone under the projected climate change in the future, thereby providing valuable information for adaptation strategy in fruit industry.

• Information Systems Review
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• v.21 no.4
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• pp.143-156
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• 2019

Types of innovation can be categorized into simplification, information, automation, and intelligence. Intelligence is the highest level of innovation, and RPA can be seen as one of intelligence. Robotic Process Automation(RPA), a software robot with artificial intelligence, is an example of intelligence that is suited for simple, repetitive, large-scale transaction processing tasks. The RPA, which is already in operation in many companies in Korea, shows what needs to be done to naturally focus on the core tasks in a situation where the need for a strong organizational culture is increasing and the emphasis is on voluntary leadership, strong teamwork and execution, and a professional working culture. The introduction was considered naturally according to the need to find. Robotic Process Automation, or RPA, is a technology that replaces human tasks with the goal of quickly and efficiently handling structural tasks. RPA is implemented through software robots that mimic humans using software such as ERP systems or productivity tools. RPA robots are software installed on a computer and are called robots by the principle of operation. RPA is integrated throughout the IT system through the front end, unlike traditional software that communicates with other IT systems through the back end. In practice, this means that software robots use IT systems in the same way as humans, repeat the correct steps, and respond to events on the computer screen instead of communicating with the system's application programming interface(API). Designing software that mimics humans to communicate with other software can be less intuitive, but there are many advantages to this approach. First, you can integrate RPA with virtually any software you use, regardless of your openness to third-party applications. Many enterprise IT systems are proprietary because they do not have many common APIs, and their ability to communicate with other systems is severely limited, but RPA solves this problem. Second, RPA can be implemented in a very short time. Traditional software development methods, such as enterprise software integration, are relatively time consuming, but RPAs can be implemented in a relatively short period of two to four weeks. Third, automated processes through software robots can be easily modified by system users. While traditional approaches require advanced coding techniques to drastically modify how they work, RPA can be instructed by modifying relatively simple logical statements, or by modifying screen captures or graphical process charts of human-run processes. This makes RPA very versatile and flexible. This RPA is a good example of the application of digital to intelligence(D2I).

• Journal of Korean Society of Forest Science
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• v.74 no.1
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• pp.47-55
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• 1986

During the past 4 years, I have made a careful analysis of the present rotating system of hunting areas, on the one hand, by asking a group of hunters to fill out a questionnaire, and on the other hand, by referring to the written documents on the subject. And, as a result, it is concluded that this system, by varying the hunting grounds each year, contains in itself several problems as follows. 1. The hunters find it quite inconvenient to use a different hunting ground year after year and they also complain that the present hunting ground charge is more than it is worth. Therefore, it is expected that the number of hunters will explosively increase in the future with the betterment of hunting conditions. 2. The hunters have almost no information about game and they are, as a whole, lacking in the ethics of hunting. 3. The allotment of time in hunting training courses is not so sufficient that it is next to impossible to improve the quality of hunters. 4. As a rule, the population density of wildlife is so sparse that it falls short of the proper standard of it. 5. The present hunting system does not seem to contribute to the advancement of tourism. 6. It is absolutely necessary to make a general survey of the situation of wildlife for the legal protection of it. Besides, the interests of hunters are so closely tied up with those of farmers and foresters that dreastic measures should be taken to settle their conflicting differences. For the purpose of solving the above-mentioned problems and at the same time, of developing sound hunting practices in the long run, I hereby make two suggestions. 1. The Establishment of the Hunting License Test System It is desirable to issue a license to a prospective hunter after he has met a special qualification and then passed a test so that he may have bits of information needed for his hunting activities. 2. The Introduction of The Revier System The fundamental concept of this system is based on the assumption that the private landowner should reserve a right to the pursuit of game and take responsibility for wildlife management.

• The Korean Journal of Financial Management
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• v.25 no.1
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• pp.51-84
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• 2008

We investigate the signaling effect of repurchase preceding new equity issue using Korean data. In a short time span, firms announce stock repurchases and equity offerings. The proximity of two events in Korean firms indicates that those are not independent of each other. In this paper, we test the signaling effect of repurchase on equity offerings on the two measures. One is announcement effect, which is measured as CAR(0, +2). The other is the effectiveness which is measured as CAR(0, +30) because the price movement during this window influences on the price of new issues. Previous studies that stock repurchase convey positive signal to equity offerings-Billet and Xue(2004) and Jung(2004)-construct sample without the limit of time interval between two events. This causes the unclear relation between those because of the long time interval. In this study we consider only samples of being within one year each other to reduce this problem and clarify the signal of repurchase on equity offerings. Korean firms are allowed to repurchase own shares with two different method. One is direct repurchase as same as open market repurchase. The other is stock stabilization fund and stock trust fund which trust company or bank buy and sell their shares on the behalf of firms. Generally, the striking different characteristic between direct repurchase and indirect repurchase is following. Direct repurchase is applied by more strict regulation than indirect repurchase. Therefore, the direct repurchase is more informative signal to the equity offering than the indirect repurchase. We construct two sample firms- firms with direct repurchase preceding-equity offerings and indirect repurchase-preceding equity offering, and one control firms-equity offerings only firms-to investigate the announcement effect and the effectiveness of repurchases. Our findings are as follows. Direct repurchase favorably affect the price of new issues favorably. CAR(0, +2) of firms with direct repurchase is not different from that of equity offerings only firms but CAR(0, +30) is higher than that of equity offerings only firms. For firms with indirect repurchase and equity offerings, Both the announcement effect and the effectiveness does not exist. Jung(2004) suggest the possibilities of how indirect stock repurchase can be regarded as one of unfair trading practices on based on the survey results that financial managers of some of KSE listed firms have been asked of their opinion on the likelihood of the stock repurchase being used in unfair trading. This is not objective empirical evidence but opinion of financial managers. To investigate whether firms announce false signal before equity offerings to boost the price of new issues, we calculate the long-run performance following equity offerings. If firms have announced repurchase to boost the price of new issues intentionally, they would undergo the severe underperformance. The empirical results do not show the severer underperformance of both sample firms than equity offerings only firms. The suggestion of false signaling of repurchase preceding equity offerings is not supported by our evidence.

• Journal of Distribution Science
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• v.8 no.3
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• pp.37-47
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• 2010

CRM refers to the operating activities that always maintain and promote good relationship with customers to ultimately maximize the company's profits by understanding the value of customers to meet their demands, establishing a strategy which may maximize the Life Time Value and successfully operating the business by integrating the customer management processes. In our country, many big businesses are introducing CRM initiatively to use it in marketing strategy however, most medium and small sized companies do not understand CRM clearly or they feel difficult to introduce it due to huge investment needed. This study is intended to present CRM promotion strategy and activities plan fit for the medium and small sized companies by analyzing the success factors of the leading companies those have already executed CRM by surveying the precedents to make the distributors out of the industries have close relation with consumers to overcome their weakness in scale and strengthen their competitiveness in such a rapidly changing and fiercely competing market. There are 5 stages to build CRM such as the recognition of the needs of CRM establishment, the establishment of CRM integrated database, the establishment of customer analysis and marketing strategy through data mining, the practical use of customer analysis through data mining and the implementation of response analysis and close loop process. Through the case study of leading companies, CRM is needed in types of businesses where the companies constantly contact their customers. To meet their needs, they assertively analyze their customer information. Through this, they develop their own CRM programs personalized for their customers to provide high quality service products. For customers helping them make profits, the VIP marketing strategy is conducted to keep the customers from breaking their relationships with the companies. Through continuous management, CRM should be executed. In other words, through customer segmentation, the profitability for the customers should be maximized. The maximization of the profitability for the customers is the key to CRM. These are the success factors of the CRM of the distributors in Korea. Firstly, the top management's will power for CS management is needed. Secondly, the culture across the company should be made to respect the customers. Thirdly, specialized customer management and CRM workers should be trained. Fourthly, CRM behaviors should be developed for the whole staff members. Fifthly, CRM should be carried out through systematic cooperation between related departments. To make use of the case study for CRM, the company should understand the customer and establish customer management programs to set the optimal CRM strategy and continuously pursue it according to a long-term plan. For this, according to collected information and customer data, customers should be segmented and the responsive customer system should be designed according to the differentiated strategy according to the class of the customers. In terms of the future CRM, integrated CRM is essential where the customer information gathers together in one place. As the degree of customers' expectation increases a lot, the effective way to meet the customers' expectation should be pursued. As the IT technology improved rapidly, RFID (Radio Frequency Identification) appears. On a real-time basis, information about products and customers is obtained massively in a very short time. A strategy for successful CRM promotion should be improving the organizations in charge of contacting customers, re-planning the customer management processes and establishing the integrated system with the marketing strategy to keep good relation with the customers according to a long-term plan and a proper method suitable to the market conditions and run a company-wide program. In addition, a CRM program should be continuously improved and complemented to meet the company's characteristics. Especially, a strategy for successful CRM for the medium and small sized distributors should be as follows. First, they should change their existing recognition in CRM and keep in-depth care for the customers. Second, they should benchmark the techniques of CRM from the leading companies and find out success points to use. Third, they should seek some methods best suited for their particular conditions by achieving the ideas combining their own strong points with marketing. Fourth, a CRM model should be developed that will promote relationship with individual customers just like the precedents of small sized businesses in Switzerland through small but noticeable events.

• Journal of Astronomy and Space Sciences
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• v.22 no.1
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• pp.1-12
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• 2005

The Korean VLBI Network (KVN) will open a new field of research in astronomy, geodesy and earth science using the newest three Elm radio telescopes. This will expand our ability to look at the Universe in the millimeter regime. Imaging capability of radio interferometry is highly dependent upon the antenna configuration, source size, declination and the shape of target. In this paper, imaging simulations are carried out with the KVN system configuration. Five test images were used which were a point source, multi-point sources, a uniform sphere with two different sizes compared to the synthesis beam of the KVN and a Very Large Array (VLA) image of Cygnus A. The declination for the full time simulation was set as +60 degrees and the observation time range was -6 to +6 hours around transit. Simulations have been done at 22GHz, one of the KVN observation frequency. All these simulations and data reductions have been run with the Astronomical Image Processing System (AIPS) software package. As the KVN array has a resolution of about 6 mas (milli arcsecond) at 220Hz, in case of model source being approximately the beam size or smaller, the ratio of peak intensity over RMS shows about 10000:1 and 5000:1. The other case in which model source is larger than the beam size, this ratio shows very low range of about 115:1 and 34:1. This is due to the lack of short baselines and the small number of antenna. We compare the coordinates of the model images with those of the cleaned images. The result shows mostly perfect correspondence except in the case of the 12mas uniform sphere. Therefore, the main astronomical targets for the KVN will be the compact sources and the KVN will have an excellent performance in the astrometry for these sources.