• Title/Summary/Keyword: silver market

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The Transition of Production, Consumption and Price of Non-ferrous Metals (비철금속(非鐵金屬)의 생산(生産), 소비(消費), 시세(時勢)의 추이(推移))

  • Moon, W.J.
    • Economic and Environmental Geology
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    • v.2 no.3
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    • pp.1-25
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    • 1969
  • In considering the mining industry, it is necessary to study the production, consumption and price of ore and metals in every country of the world in order to determine the trend of the industry in the present and for the future. This study is necessary especially for exporting domestically produced are which is in excess of domestic consumption and for importing are, or metal where local production does not meet domestic demand. It will be treated of Au, Ag, Cu, Pb, Zn, W, Mo, which are the most important non-ferrous metals, and which greatly affect the mining industry of Korea. The presentation will concern itself only with the free world. About 1, 200 ton of gold are produced annually with little fluctiation in recent years. Most of the gold produced is consumed by advanced countries for industrial uses as well as for producing precious objects. The U.S.A. expends yearly about four times its domestic production and Japan about three times its domestic production for industry and arts. Because of the instability of the currency of the U.S.A., England and France, recently, the price of gold has been $ 41-42 per ounce, whereas the official price is $35.00 per ounce. It will be expected that the official price will be raised in the near future. As for silver, about 6,500 tons are produced annually with no special fluctuation change in recent years. However, the annual consumption is about 14,000 ton, so the supply and demand is extremely unbalanced. The shortage is made up by the sale of the U.S. treasury's reserve stock and the reclaiminig of silver from coins and other scrap. As the Treasury'S reserves will be exhausted in a year or two, the price of silver which is $1. 64 per ounce, will go up drastically in about a year. As for copper, 5,257,000 ton's were mined in 1966. It's production is being increased about 5% annually. However, consumption exceeds production by about 100,000 ton a year. The recent Foreign refinery copper price in the U.S.A is $ 60 per pound. The supply of copper being insufficient to meet international demands, the price will go up and with no prospect of being lowered in the near future even with the slight annual increase in production. About 2,100,000 to 2,200,000 tons of lead are produced annually. Consumption exceeds production by about 50,000-60,000 tons annually. The current price of lead in New York is $ 155 per pound. As the supply of lead is internationally stable, It will be believed that there will be no significant change in its price in the near future. In 1967, 3,926,000 tons of Zinc were produced. There is annual increase of 4-7% in production. The annual consumption exceeds production by 100,000 to 200,000 tons. The current zinc price in the St. Louis market inthe U.S.A. is $ 145 per pound. Even though its supply is stable and sufficient world wide, the consumption rate will increase at a faster pace than before; hence, the price will slowly go up. Tungsten mines yield about 11,000 tons a year. Its production has been relatively constant in the past few years. The amount of its consumption increases slowly world wide, but in the free world· there has been a slight annual decrease. However, since Red China has not been exporting their tungsten to other countries for several months, the price on the London market of S.T.U. of $Wo_3$ has increased to $ 44~46. Should Red China begin to export actively again the price will drop to $ 40~42. In 1967, 56,000 tons of Molybdenum were produced. Production exceeds consumption by 200,000 -30,000 tons annually. The current price in the U.S.A. is $ 1.72 per Mo pound. Since the rate of production in the U.S.A. is on the increase with large amounts of ore reserve, the price of molubdenum should not go up.

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The Development of Coin Circulation Institutes and their Regional Impact during the Reign of King Hyojong(孝宗) (효종조(孝宗朝) 행전사목(行錢事目)과 행전책(行錢策), 성과와 한계)

  • JUNG, Suhwan
    • (The)Study of the Eastern Classic
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    • no.73
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    • pp.153-184
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    • 2018
  • The aim of this thesis was to examine the circumstances that led up to successful coin use across the entire nation in 1678 (the $4^{th}$ year of King Sukjong's reign), during the Joseon Dynasty. To this end, this thesis analysed the Sa-Mouk(事目, Provisions) that contained the institutional protocol for coin circulation, implemented by King Hyojong and the statesman Kim Youk(金堉) who had practical experience in these matters over the ten years of King Hyojong's reign(1649-1659). To regulate the problematic wide circulation of coarse cotton cloth as currency in the market of 1650 (the $1^{st}$ year of King Hyojong's reign), prohibition measures were implemented. Besides the superficial justification given for these measures(i.e., that the market price was disturbed by the use of coarse cotton cloth), there was another purpose to prohibiting the circulation of cotton cloth as money, following the standard ruled by the government: the state aimed to ensure momentum for the upcoming coin circulation policy, by strengthening its control of the current economy. In 1651 (the $2^{nd}$ year of King Hyojong's reign), the government fully cracked down on the use of coarse cotton cloth as currency, and simultaneously implemented its coin circulation policy in the Pyeongan(平安) region. The pretext for this policy was to raise finances to support people who were starving as a result of poor harvests and famine. People who received coins from government officials could purchase food in the market, and the coin circulation policy was judged to be successful. Subsequently, to extend coin circulation further throughout the region, the Sa-Mouk for Seoul was established. The Sa-Mouk included stipulations regarding the use of coin in transactions and for government expenditure; it aimed thereby to enhance the national policy's market credit. The hasty implementation of the policy for the expansion of coin circulation caused some problems that required its modification. In 1652 (the $3^{rd}$ year of King Hyojong's reign), coin circulation was increased to encompass the Gyeonggi(京畿) region, and some of the tax that had been paid in rice was now paid in coin. However, coins were in short supply, since there was insufficient copper, the main material used in coin production, and the policy faced a significant limitation. Therefore, in 1655(the $6^{th}$ year of King Hyojong's reign), a new Sa-Mouk for coin circulation was established. This Sa-Mouk included specifications regarding the determination of coin values based on rice and silver, and mandated the wide spread installation of stores for exchanging spot goods for coins throughout the region in which coins were circulating. This policy's objective was to secure stability for the national economy by further regulating coin circulation. The sustained implementation of the coin circulation policy for ten years by King Hyojong and the statesman Kim Youk offered the government an opportunity to accumulate experience in coin circulation in the market, and also to learn from institutional trial and error. This may have been one of the contributing factors to the nation-wide coin circulation that was established in 1678. The objective of the policy implemented during King Hyojong's reign was not to meet the market's requirements, but rather to ensure the preservation of the national economy, and this misjudgement constituted the policy's key limitation. At this time, the government urgently needed to secure finances to cope with the war against China's Qing Dynasty.

Study on the types of portfolio of MPP(multiple program provider) -Focused on the affiliates of free TV- (지상파 계열 MPP의 브랜드 포트폴리오 유형에 대한 연구)

  • Lee, Moon-Haeng
    • Korean journal of communication and information
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    • v.42
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    • pp.107-139
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    • 2008
  • With the rapid change of broadcasting industry, the dominant market power of Korean free TV is going down. The purpose of this study is to estimate what is their strategy to recover the actual difficulties as for advertising media and production company. We will focus on mainly their horizontal diversification, MPP(multiple program provider). They will be classified and analysed by 5 portfolio types of Aaker: Cashcow Brand, flanker Brand, Strategic Brand, Silver Bullet Brands and Branded Energizer. For this, we will study the data from Korean Broadcasting Committee, home page of each channels, etc. At result, since MPP(multiple program provider), affiliates of Korean free TV have the stable advertising revenues compared with other cable channels, there are many cases of Cashcow brands which need few supplementary investment from the parental company and influence positively for the other channel brands.

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The Effect of Men's Underwear Benefits Sought on Underwear Purchasing Behavior (남성의 속옷 추구혜택에 따른 구매행동)

  • Lee, Eun-Kyung;Hwang, Jin-Sook
    • Journal of the Korea Fashion and Costume Design Association
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    • v.12 no.4
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    • pp.15-28
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    • 2010
  • This study was intended to present basic materials for the direction of product planning and marketing strategy to increase the market share of men's underwear. For this purpose, it attempted to classify the groups according to the benefit of pursuing men's underwear and analyze the differences in purchase behavior among the segmented groups. The specific purposes of the study were to investigate the purchase behavior of men's underwear, to segment the consumers into groups according to underwear benefits sought, to investigate the differences in purchase behavior among the groups, and to investigate the differences in demographics among the groups. The questionnaire was distributed to men aged the 20s to the 40s living in Seoul. A total of 297 questionnaires were used for the final analysis. As a result, the following findings were obtained. It was found that 84.8% of the respondents showed there was no favorite underwear brand. They showed the favorite color of translucent color, the favorite style of trunk and brief, the favorite post-processing of silver nano, deo processing, and the favorite material of charcoal. In purchasing men's underwear, the respondents showed a preference for simple image, and the discount store as the place of purchase. The results also showed that there were four groups of underwear benefits sought: sex appeal/individuality, comfort, practicality, and fashion/brand groups. In regard to the group differences, there were significant differences in underwear purchase motives, underwear preferences, store selection criteria, and demographics.

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The Effect of Benefits of Mobile Application Use-Diffusion and Purchase Intention in Service Management (서비스경영에 있어 모바일 애플리케이션의 편익이 사용-확산과 이용의도에 미치는 영향에 관한 연구)

  • Yim, Ki-Heung;Kwon, Jin-Hee;Quan, Zhi-xuan
    • Journal of Digital Convergence
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    • v.14 no.3
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    • pp.63-69
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    • 2016
  • One of the biggest recent issues in the communication market is the explosive distribution of smartphones. One of the reasons why a smartphone could have seen this rapid distribution in terms of the service management is because it enables the access to the Internet without getting restricted by place and time through customization by a user, unlike a feature phone which only has the existing functions mounted on that were already chosen by a suppler. The other reason is because of its applications. This study aimed to make an empirical investigation of the impact of each of the different convenience types of mobile applications on the usage and the use diversity, consider the process of use diffusion, and find out whether there is a difference in the effect of each convenience type on the use-diffusion. According to the findings of this study, it was firstly shown that the effect of each convenience type on the use-diffusion is different, and secondly, it appeared that the more various functions of the mobile applications are used, the more usage increases.

Effects of the Atmosphere on the Comparative Solderability of Lead-Tin and Lead-Free Solders

  • Bin, Jeong-Uk;S.M.Adams;P.F.Stratton
    • Proceedings of the International Microelectronics And Packaging Society Conference
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    • 2001.04a
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    • pp.45-47
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    • 2001
  • Due to pressure from threatened legislation in Europe, consumer and governmental pressure in Japan, and glob머 market considerations in the US, there is a rapidly growing interest in lead-free solderinger, Although the move to lead free soldering seems inevitable, many problems will arise in production assembly. It is generally acknowledged that the lead-free solders available offer a much s smaller process window than lead/tin, related mainly to the higher soldering temperatures which naturally result from increases of liquidus temperatures of at least 300 C. However, raising reflow temperatures from the current 220-2300 C to 250 2600 C will lead to problems with the boards and components as well as i increasing oxidation effects. There is a need to keep reflow temperatures low without reducing solderablity. Some results on benefits of inert atmospheres are discussed in this paper. For example, testing in a nitrogen atmosphere, with 300 ppm oxygen, by the N National Physical Laboratory (NPU has revealed clear benefits for ine$\pi$mg lead-free alloys, by restoring the solderability to lead/tin levels, by enabling lower soldering temperatures. However, there has been little testing over a range of oxygen levels in nitrogen and this is an important issue in determining n nitrogen supply and oven costs. Some results are reported here from work by NPL conducted for BOC in w which solderability was evaluated for tin기ead and tin/silver/copper eutectic a alloys in a wetting balance over a range of oxygen levels form 10 ppm to 21% ( (air). The studies confirm that acceptable wetting times occur in inert atmospheres a at soldering temperatures 20 to 300 C lower than are possible in air.

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Preservative characteristics of photographic films and papers on the speed method (사진용 필름, 인화지의 감도측정에 따른 보존특성)

  • Ahn, Hong-Chan;Han, Sang-Wan;Choi, Hoon-Jeong;Heo, Hoon
    • Journal of Korean Society of Archives and Records Management
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    • v.3 no.2
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    • pp.143-155
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    • 2003
  • As archives, photograph is the evident records of historical facts and experiences. Thus, it is worth preserving. Unlike other documents silver halide photographic films and prints are quite sensitive to environmental factors such as light, temperature and humidity, which demands careful treatment in preservation. This study was carried out to select popular photographic films and papers on the market, to examine their photographic speeds (or sensitivities) and to compare and analyze their preservative features after keeping them some time in a weather-o-meter. Consequently, B/W materials were superior to color ones in preservation. And films were better than papers in the same manner. But we were not able to observe remarkable differences among material's manufacturers.

Single Person Household and Urban Policy in Seoul (도시에서 혼자 사는 것의 의미: 1인가구 현황 및 도시정책 수요)

  • Miree BYUN
    • Korean Journal of Culture and Social Issue
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    • v.21 no.3
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    • pp.551-573
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    • 2015
  • The rise of single living has been one of the most important demographic shifts of recent decades. The solo household is a little less than 40% in Europe areas and that of Tokyo is over 45%. Being impacted this figure, the formation of single economy is the key word in World Economic Forum(WEF) 2008. Seoul' single household is increasing rapidly. Between 2000 and 2005, the growth of single person is around 34%, the population of single person reached 700,000 people. Now 20% of total household in Seoul is Single household. Living alone or solo living is not exceptional or special in Seoul Metropolitan City. The rise in single living will create pressures towards poverty and inequality and so on. Seoul should develop and prepare the urban policy for single household. We figured out the four key trends which composed of single household in Seoul. Four types of single person are like below : Gold Mr and Miss, Reserved labor forces, depressed single and silver generation. Gold group is amonst people aged 30 and 40 who is working in the area of white collar and professional. They are usually elective single person household who have chosen solo living. Reserved labor forces group is usually among 20s people who have not get the regular hob. For this group, job acquiring is the most important issue. Depressed single person household group is among people aged late 30s and 40s. Its group is the result from the broken family. The silver group is among aged over 65 that is the main issue of the aged society. In this research, we stressed that people living alone can be split into two types - elective single person households who have chosen single living, and forced single person household who have been constrained to this lifestyle by circumstances. Except gold group, the rest of the group is the forced single household who are faced to poverty. The monthly income of single person household is almost under 2 million won. Single person household is usually working in the blue collar job and service area. So, except gold group that is the smallest part of single person household, almost single person is not the target of private market, but the object of public policy.

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A Study on Commodity Asset Investment Model Based on Machine Learning Technique (기계학습을 활용한 상품자산 투자모델에 관한 연구)

  • Song, Jin Ho;Choi, Heung Sik;Kim, Sun Woong
    • Journal of Intelligence and Information Systems
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    • v.23 no.4
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    • pp.127-146
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    • 2017
  • Services using artificial intelligence have begun to emerge in daily life. Artificial intelligence is applied to products in consumer electronics and communications such as artificial intelligence refrigerators and speakers. In the financial sector, using Kensho's artificial intelligence technology, the process of the stock trading system in Goldman Sachs was improved. For example, two stock traders could handle the work of 600 stock traders and the analytical work for 15 people for 4weeks could be processed in 5 minutes. Especially, big data analysis through machine learning among artificial intelligence fields is actively applied throughout the financial industry. The stock market analysis and investment modeling through machine learning theory are also actively studied. The limits of linearity problem existing in financial time series studies are overcome by using machine learning theory such as artificial intelligence prediction model. The study of quantitative financial data based on the past stock market-related numerical data is widely performed using artificial intelligence to forecast future movements of stock price or indices. Various other studies have been conducted to predict the future direction of the market or the stock price of companies by learning based on a large amount of text data such as various news and comments related to the stock market. Investing on commodity asset, one of alternative assets, is usually used for enhancing the stability and safety of traditional stock and bond asset portfolio. There are relatively few researches on the investment model about commodity asset than mainstream assets like equity and bond. Recently machine learning techniques are widely applied on financial world, especially on stock and bond investment model and it makes better trading model on this field and makes the change on the whole financial area. In this study we made investment model using Support Vector Machine among the machine learning models. There are some researches on commodity asset focusing on the price prediction of the specific commodity but it is hard to find the researches about investment model of commodity as asset allocation using machine learning model. We propose a method of forecasting four major commodity indices, portfolio made of commodity futures, and individual commodity futures, using SVM model. The four major commodity indices are Goldman Sachs Commodity Index(GSCI), Dow Jones UBS Commodity Index(DJUI), Thomson Reuters/Core Commodity CRB Index(TRCI), and Rogers International Commodity Index(RI). We selected each two individual futures among three sectors as energy, agriculture, and metals that are actively traded on CME market and have enough liquidity. They are Crude Oil, Natural Gas, Corn, Wheat, Gold and Silver Futures. We made the equally weighted portfolio with six commodity futures for comparing with other commodity indices. We set the 19 macroeconomic indicators including stock market indices, exports & imports trade data, labor market data, and composite leading indicators as the input data of the model because commodity asset is very closely related with the macroeconomic activities. They are 14 US economic indicators, two Chinese economic indicators and two Korean economic indicators. Data period is from January 1990 to May 2017. We set the former 195 monthly data as training data and the latter 125 monthly data as test data. In this study, we verified that the performance of the equally weighted commodity futures portfolio rebalanced by the SVM model is better than that of other commodity indices. The prediction accuracy of the model for the commodity indices does not exceed 50% regardless of the SVM kernel function. On the other hand, the prediction accuracy of equally weighted commodity futures portfolio is 53%. The prediction accuracy of the individual commodity futures model is better than that of commodity indices model especially in agriculture and metal sectors. The individual commodity futures portfolio excluding the energy sector has outperformed the three sectors covered by individual commodity futures portfolio. In order to verify the validity of the model, it is judged that the analysis results should be similar despite variations in data period. So we also examined the odd numbered year data as training data and the even numbered year data as test data and we confirmed that the analysis results are similar. As a result, when we allocate commodity assets to traditional portfolio composed of stock, bond, and cash, we can get more effective investment performance not by investing commodity indices but by investing commodity futures. Especially we can get better performance by rebalanced commodity futures portfolio designed by SVM model.

A Study on the Influence of Consumer Type on the Choice of Next-Generation Eco-Friendly Vehicle and Consumer Purchase Intention - Comparative Study on Japan and Korea - (소비자 유형이 차세대 친환경자동차선택속성과 소비자 구매의도에 미치는 영향에 관한 연구 - 한국 일본 비교연구 -)

  • Yim, Ki-Heung;Chong, Min-Young
    • Journal of Digital Convergence
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    • v.15 no.11
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    • pp.133-146
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    • 2017
  • In recent years, the development and market participation of major makers of next-generation eco-green vehicles has been accelerating. Consumer interest has also increased. Consumer characteristics, consumption type, characteristics of next-generation eco-friendly vehicles, and government policies on next eco-green vehicles. The results of this study are as follows. In Korea, there was no significant difference by gender, age, monthly average income, and consumer type. However, there was no significant difference in purchase intention by gender, age, and monthly income, Respectively. In the case of Japan, there was no significant difference by gender, age, monthly income, and consumer type. In Korea, on the other hand, images such as brand, color, and design have positive effects on eco-friendly vehicles. In the case of Japan, image and stability have a positive effect on consumers' purchasing behavior. Therefore, it is important for Japanese consumers to consider not only the image of purchasing an eco-friendly vehicles, but also the safety of the vehicles body, appear. In the case of Korea, the socio-environmental value-seeking type has a significant relationship with the purchasing intention. In the case of socio-environmental value-seeking type, the government's support policy such as carbon dioxide tax, direct support from the national or local governments, gasoline tax, Carbon tax and fuel related tax relief showed positive effects. In the case of Japan, the price-seeking type and the socio-environmental value-seeking type were found to have a significant relationship with the purchasing intention. Both the price-seeking type and the socio-environmental value-seeking type showed that the carbon dioxide tax, Direct support, gasoline tax, gasoline tax, and carbon tax, etc. have positive effects.