• Korean Journal of Poultry Science
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• v.34 no.2
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• pp.111-117
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• 2007

This experiment was conducted to research the effects of Yellow Clay(YC) on the sensory evaluation of cooked meat in broiler chicks. A total of 216 one day old broiler chicks were divided into 6 groups at random. The six groups are consisted of one control group, to which no YC was added, and 5 groups to which an amount of YC was differently added. Diets contained 0.5, 1.0, 2.0, 4.0 and 8.0% of YC and fed to the 5 group broilers for 6 weeks. The lightness of meat in the broilers treated with YC was significantly higher than that of the control group in after-cooking(P<0.05). Besides, the lightness of meat was higher after-cooking than before-cooking. The properties of hardness, gumminess and chewiness were significantly lowered in the groups treated with Yellow Clay, as the amount of Yellow Clay increased at before-cooking and after-cooking(P<0.05). The turbidity of stock was higher in the groups treated with Yellow Clay as the percentage level of Yellow Clay increased, compared with the control group(P<0.05). The acceptability of color, flavor, and texture of meat and stock was higher in the groups treated with Yellow Clay, when compared with that of the control group(P<0.05). In total, the group treated with the 4 percentage of Yellow Clay was the highest in the overall preference(P<0.05).

• Management & Information Systems Review
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• v.35 no.1
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• pp.189-206
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• 2016

It was required to attach the documents on the details of external audit including the number of the participants in external audit, audited parts and audit times under the Article 7-2 on the audit report to the accounting audit report from 2014 in accordance with the amendment to the Act on External Audit of Stock Companies. This study aim to calculate the audit fee based on the estimated cost of service calculation of the government contribution agencies by reflecting the implementation of the revised external audit. This study calculated the audit fee for the target company (a listed company assumed to have no internal control risks and relevant audit risks for unqualified opinion in the previous year, 100 billion won of total amount of asset, manufacturing company in the previous year and preliminary client request) by putting together four items of expenditure including employment costs, expenditure, general management expenses and profit in accordance with the calculation system of cost of service under the State Contract Act. Then, it used the data collected from the documents on the details of the revised external audit after requesting estimation on the target company with the estimated cost to Big-4 accounting firms to identify the participants and times of the accounting audit. The employment costs applied 150% of participation rate of the base price of employment costs for the academic research service cost in 2014, the expenditure used the average value of accounting firms of corporate business management analysis of the Bank of Korea (2013), the general management expenses applied 5% of the general management rate of service business under Article 7-1 of the Enforcement Rule of the Act on Contracts to which the State is a Party and the profit applied 10% of profit rate of service business under Article 7-2 of the Enforcement Rule of the Act on Contracts to which the State is a Party. Based on the calculation of the estimated costs by applying the above, the audit fee was estimated at 50,617,769won. Although the result is not the optimal audit fee, it may be used as a basic scale to compare the audit fees of companies without criteria. Also, such amendment to the Act on External Audit of Stock Companies may improve independence of auditors and transparency of the accounting system rather than previous announcing only the total audit times.

• Horticultural Science & Technology
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• v.34 no.3
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• pp.461-471
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• 2016

This study was conducted to establish an in vitro propagation system for sea-milkwort (Glaux maritima L.), which is an endangered coastal plant species with high horticultural value. Two phenotypes, 'Red type (RT)' and 'Pistachio type (PT)' based on the colors of stem and flower, were obtained from a personal horticulturist in 2009 and used for this study as plant materials. The stock plants showed typical morphologies in flower, capsule, and seed appearances as previously reported. Low temperature treatment at $4^{\circ}C$ for four or more weeks after in vitro sowing maximized seed germination percentage, indicating that imbibition of seed and subsequent low temperature treatment are crucial for its germination. The in vitro seedlings had phenotypic variation, falling into 'RT' and 'PT' classes like the stock plants. Although slight differences depending on genotype and medium were recognized, the fourth or fifth nodes detached from the in vitro seedlings revealed the best multiplication efficacy when estimated on the basis of total number of nodes of newly developed axillary shoots. In addition, the nodes from 'RT' and 'PT' regenerated the most shoots on medium supplemented with $0.5mg{\cdot}L^{-1}$ BA alone and $0.5mg{\cdot}L^{-1}$ BA plus $0.5mg{\cdot}L^{-1}$ IAA, respectively. The node culture-derived plantlets were well acclimatized in a culture room ex vitro and completed the pseudo-annual life cycle coincident with that in the natural salt march habitat with the current cultivation method of applying fresh water-irrigation under an inland environment. This work represents the first report of in vitro propagation of sea-milkwort. Thus, our study will contribute to exo-habitat conservation and natural habitat restoration of this endangered species in addition to development of a horticultural product.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.46 no.1
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• pp.91-104
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• 2023

The records system is believed to have started in Italy in the 14th century in line with trade developments in Europe. In 1491, Luca Pacioli, a mathematician, and an Italian Franciscan monk wrote the first book that described double-entry accounting processes. In many countries, including Korea, the government accounting standards used single-entry bookkeeping rather than double-entry bookkeeping that can be aggregated by account subject. The cash-based and single-entry bookkeeping used by the government in the past had limitations in providing clear information on financial status and establishing a performance-oriented financial management system. Accordingly, the National Accounting Act (promulgated in October 2007) stipulated the introduction of double-entry bookkeeping and accrual accounting systems in the government sector from January 1, 2009. Furthermore, the Korean government has also introduced International Financial Reporting Standards (IFRS), and the System of National Accounts (SNA). Since 2014, Korea owned five national accounts. In Korea, valuation began with the 1968 National Wealth Statistics Survey. The academic origins of the valuation of national wealth statistics which had been investigated by due diligence every 10 years since 1968 are based on the 'Engineering Valuation' of professor Marston in the Department of Industrial Engineering at Iowa State University in the 1930s. This field has spread to economics, etc. In economics, it became the basis of capital stock estimation for positive economics such as econometrics. The valuation by the National Wealth Statistics Survey contributed greatly to converting the book value of accounting data into vintage data. And in 2000 National Statistical Office collected actual disposal data for the 1-digit asset class and obtained the ASL(average service life) by Iowa curve. Then, with the data on fixed capital formation centered on the National B/S Team of the Bank of Korea, the national wealth statistics were prepared by the Permanent Inventory Method(PIM). The asset classification was also classified into 59 types, including 2 types of residential buildings, 4 types of non-residential buildings, 14 types of structures, 9 types of transportation equipment, 28 types of machinery, and 2 types of intangible fixed assets. Tables of useful lives of tangible fixed assets published by the Korea Appraisal Board in 1999 and 2013 were made by the Iowa curve method. In Korea, the Iowa curve method has been adopted as a method of ASL estimation. There are three types of the Iowa curve method. The retirement rate method of the three types is the best because it is based on the collection and compilation of the data of all properties in service during a period of recent years, both properties retired and that are still in service. We hope the retirement rate method instead of the individual unit method is used in the estimation of ASL. Recently Korean government's accounting system has been developed. When revenue expenditure and capital expenditure were mixed in the past single-entry bookkeeping we would like to suggest that BOK and National Statistical Office have accumulated knowledge of a rational difference between revenue expenditure and capital expenditure. In particular, it is important when it is estimated capital stock by PIM. Korea also needs an empirical study on economic depreciation like Hulten & Wykoff Catalog A of the US BEA.

• Korean Journal of Organic Agriculture
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• v.21 no.3
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• pp.451-465
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• 2013

This study was conducted to estimate Hanwoo carrying capacity when whole crop barley, rye, wheat and tritcale as winter forage crops was grown on different applying sources (chemical fertilizer, cattle or organic fertilizer) and mixed sowing combination with hairy vetch or forage pea during the period of 2011~2012. The experimental plots within whole crop barley or rye were consisted of 7 treatments, which were non-fertilizer, chemical fertilizer (P+K), chemical fertilizer (N+P+K), organic fertilizer, cattle slurry, cattle slurry with hairy vetch, and cattle slurry with forage pea. Each plot was triplicates and experimental treatments were allocated in the randomized complete block design. For whole crop barley, annual mean dry matter (DM) and total digestible nutrients (TDN) yields were the highest in N+P+K plots, but there were no significant differences among organic fertilizer, cattle slurry and mixed sowing with legumes. The TDN were the highest in mixed sowing plots of forage pea plus cattle slurry application. As 450 kg Hanwoo heifers were fed diets included 70% whole crop barley, organic fertilizer, cattle slurry application and mixed sowing plots of forage pea is capable of raising average 2.8 to 3.1 heads/ha a year. For whole crop rye, annual mean DM were the highest in N+P+K plots, but there were no significant differences among cattle slurry. Organic fertilizer application significantly increased TDN and relative feed value (RFV) in comparison with treatments of N+P+K fertilization as chemical fertilizers. In case of 450 kg Hanwoo heifers fed diets included 70% forage rye, it is estimated that cattle slurry application (mixed sowing with legumes) plots can rear average 2.8~ 3.2 heads/ha a year. For whole crop wheat, annual DM, crude protein, and TDN yields of application groups and mixed sowing treatment with legumes showed 6.90~7.44, 0.53~0.60 and 4.35~5.04 ton/ha, respectively. In case of 450 kg Hanwoo heifers fed diets included 70% forage rye, it is estimated that cattle slurry application (mixed sowing with legumes) plots can rear average 3.1~3.7 heads/ha a year. For Triticale, TDN yield was significantly (P<0.05) higher N+P+K plots, organic ferilizer, cattle slurry, cattle slurry with legumes than for no fertilizer and N+P+K plots. The Crude protein (CP) contents were the highest in mixed sowing plots of forage pea plus cattle slurry application. In case of 450 kg Hanwoo heifers fed diets included 70% forage triticale, it is estimated that cattle slurry application (mixed sowing with legumes) plots can rear average 3.4~3.7 heads/ha a year. It can be concluded that, on the basis of DM yield, not only mixed sowing with legumes by applying cattle slurry rather than single sowing of whole crop barley or whole crop rye enhanced production yield and feed values, but also it could be a substitute for imported grains as dietary protein sources in the case of feeding Hanwoo.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.1
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• pp.240-246
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• 2020

This study was conducted to develop specific Single Nucleotide Polymorphism (SNP) markers to identify the genetic characteristics and breed of White Hanwoo (WH) using a molecular biological method. SNP genotyping was performed with an Illumina Bovine HD 777K SNP chip using DNA extracted from 48 Hanwoo and 22 WH. The minor allele frequency (MAF) difference of each SNP was calculated and the statistical significance (P-value) of the MAF difference was calculated through Fisher's Exact test (Genotype). SNPs with 100% difference in the MAF difference were selected based on marker selection criteria. The nine SNP markers with genetic differences were selected. The selected markers have different alleles as being Hanwoo- and WH- specific. Therefore, based on these results, it can be concluded that the Hanwoo and WH varieties can be clearly distinguished by using these SNPs. So, the patent of the WH breed identification markers was registered. WH is a breed that shows the characteristics of a Korean native species that is separate from the native Hanwoo. It is expected that genetic characteristics research on the WH can be used to identify the breed and as a knowledge base for enhancing the value of breeding stock.

• Journal of Intelligence and Information Systems
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• v.23 no.3
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• pp.139-153
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• 2017

Corporate bankruptcy can cause great losses not only to stakeholders but also to many related sectors in society. Through the economic crises, bankruptcy have increased and bankruptcy prediction models have become more and more important. Therefore, corporate bankruptcy has been regarded as one of the major topics of research in business management. Also, many studies in the industry are in progress and important. Previous studies attempted to utilize various methodologies to improve the bankruptcy prediction accuracy and to resolve the overfitting problem, such as Multivariate Discriminant Analysis (MDA), Generalized Linear Model (GLM). These methods are based on statistics. Recently, researchers have used machine learning methodologies such as Support Vector Machine (SVM), Artificial Neural Network (ANN). Furthermore, fuzzy theory and genetic algorithms were used. Because of this change, many of bankruptcy models are developed. Also, performance has been improved. In general, the company's financial and accounting information will change over time. Likewise, the market situation also changes, so there are many difficulties in predicting bankruptcy only with information at a certain point in time. However, even though traditional research has problems that don't take into account the time effect, dynamic model has not been studied much. When we ignore the time effect, we get the biased results. So the static model may not be suitable for predicting bankruptcy. Thus, using the dynamic model, there is a possibility that bankruptcy prediction model is improved. In this paper, we propose RNN (Recurrent Neural Network) which is one of the deep learning methodologies. The RNN learns time series data and the performance is known to be good. Prior to experiment, we selected non-financial firms listed on the KOSPI, KOSDAQ and KONEX markets from 2010 to 2016 for the estimation of the bankruptcy prediction model and the comparison of forecasting performance. In order to prevent a mistake of predicting bankruptcy by using the financial information already reflected in the deterioration of the financial condition of the company, the financial information was collected with a lag of two years, and the default period was defined from January to December of the year. Then we defined the bankruptcy. The bankruptcy we defined is the abolition of the listing due to sluggish earnings. We confirmed abolition of the list at KIND that is corporate stock information website. Then we selected variables at previous papers. The first set of variables are Z-score variables. These variables have become traditional variables in predicting bankruptcy. The second set of variables are dynamic variable set. Finally we selected 240 normal companies and 226 bankrupt companies at the first variable set. Likewise, we selected 229 normal companies and 226 bankrupt companies at the second variable set. We created a model that reflects dynamic changes in time-series financial data and by comparing the suggested model with the analysis of existing bankruptcy predictive models, we found that the suggested model could help to improve the accuracy of bankruptcy predictions. We used financial data in KIS Value (Financial database) and selected Multivariate Discriminant Analysis (MDA), Generalized Linear Model called logistic regression (GLM), Support Vector Machine (SVM), Artificial Neural Network (ANN) model as benchmark. The result of the experiment proved that RNN's performance was better than comparative model. The accuracy of RNN was high in both sets of variables and the Area Under the Curve (AUC) value was also high. Also when we saw the hit-ratio table, the ratio of RNNs that predicted a poor company to be bankrupt was higher than that of other comparative models. However the limitation of this paper is that an overfitting problem occurs during RNN learning. But we expect to be able to solve the overfitting problem by selecting more learning data and appropriate variables. From these result, it is expected that this research will contribute to the development of a bankruptcy prediction by proposing a new dynamic model.

• Journal of Distribution Science
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• v.13 no.9
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• pp.95-101
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• 2015

Purpose - This study provides evidence of the impact of the mandatory adoption of Korean equivalents to International Financial Reporting Standards (K-IFRS) on accounting quality. K-IFRS uses fair value as a basis of measurement and is characterized by principle-based standards. These characteristics can lead to a decrease in conservatism. Therefore, this study aims to examine whether or not there is a change in the level of conservatism before and after the enforcement of K-IFRS (2007~2014). By comparing 2007 through 2008 and 2013 through 2014 (excluding 2009 to 2012), we test "the temporary adjustment phenomenon" and document an overall decline in the degree of conservatism after the adoption of K-IFRS. Research design, data, and methodology - Our sample is comprised of data of all listed Korea Composite Stock Price Index (KOSPI) manufacturing distribution companies in Korea from 2007 to 2014, which yields the pooled sample of 4,412 (panel A) and 1,915 (panel B) firm-year observations for hypotheses 1 and 2. In line with recent literature, we adopt the Givoly and Hayn (2000) model, which recomputes the non-operating accruals, excluding two components that are most likely to capture the effect of restructuring activities: special items and gains or losses from discontinued operations. In addition, we also use these variables: SIZE, LEV, INV_CYCLE, ROA, OWN, and FOR. Results - Our sample period spans 2007 to 2014. This offers evidence on the effect of the mandatory adoption of IFRS on conservatism. Our findings can be summarized as follows. First, in panel A, for mandatory K-IFRS adoption (2011), we do not find any significant evidence of conservatism. We can guess that the "temporary adjustment phenomenon" is the reason that we do not find significant evidence of conservatism. Second, we investigate panel B from 2009 to 2012. We document an overall decline in the degree of conservatism after the adoption of K-IFRS. We can assume that these results are due to "the temporary adjustment phenomenon." Conclusions - This study finds that conservatism significantly decreased after IFRS adoption. In particular, this study makes the initial effort to elucidate "the temporary adjustment phenomenon" to analyze the effect of K-IFRS on conservative accounting. We argue that K-IFRS are conceptually conservative but that inappropriate application of the conservatism principles is likely to prevent financial reporting from reaching the level of conservatism targeted by the IASB. Overall, this paper contributes to the literature on IFRS and can be useful to capital market supervisors who are monitoring the trends of the firms implementing K-IFRS. Additionally, our results inform stakeholders of the potentially negative effect of the greater flexibility permitted by IFRS and/or lack of appropriate enforcement on key dimensions of accounting quality. This has important implications for Korean regulators and standard setters as they review the cost and benefits of IFRS. Our study also sheds light on the importance of the institutional environment in achieving the targeted objectives for improving financial reporting quality.

• Journal of Environmental Science International
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• v.14 no.9
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• pp.817-825
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• 2005

The purpose of this study was to research about salt marsh flora and vegetation in the Dongjin-river estuary area where has a project for Sea Man Geum Reclaimed Land so that we can foster foundation on restoration of an ecological habitat, development of applicable plant and establishment of a conservation policy after deceloping the reclaimed land for salt marsh vegetation which has great value ecologically. In conclusion, we was distributed that there are 7 families 21 genera, 25 species, 2 varieties of vascular plant at the Dongjin-river estuary area which have 27 taxa in total and are $0.64\%$ among 4,191 of korean vascular plant. There are also 2 family, 2 genus, 2 species of a naturalized plant which are $1.1\%$ of indicator of a naturalized plant salt marsh vegetation of the downstream are very much affected by the time of inundation, tidal water so that a low degree of salt marsh has frequent flooding by sea water and has a pure group of Suaeda japonica. A Phragmites communis, Carex scabrifolia are distributed mainly around a waterway of salt marsh and Zoysia sinica, Atriplex subcordata, Phragmites communis are living in stock as forming into patch around medium salt marsh. Suaeda asparagoides, Phacelurus latifolius are living around a little high ground and a Phragmites communis is a behind vegetation of Phacelurus latifolius and a part of the Phragmites communis are living along with waterway in a salt marsh as a community. By the 2-M method twelve plant communities were recognized ; Suaeda japonica. Carex scabrifolia, Zoysia sinica, Artemisia scoparia, Phacelurus latifolius, Phragmites communis, Suaeda maritima, Suaeda japonica-Atriplex gmelini, Phragmites communis-Suaeda japonica, Suaeda japonica-Salicornia herbacea, Salicornia herbacea-Suaeda aspar-agoides and Scirpus planiculmis community. The actual vegetation map was constructed on the grounds of the communities classified and other data.

• The Korean Journal of Financial Management
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• v.25 no.2
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• pp.191-213
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• 2008

This study tests and reconfirms the wealth transfer of mergers and acquisitions(M&As) by examining the changes in and the relationship between shareholder and bondholder wealth after the announcements of M&As for the publicly listed firms in Korea Stock Exchange and KOSDAQ market during $1999{\sim}2006$. The change in shareholder wealth is measured by the Cumulative Abnormal Return(CAR) at the M&A announcements, and the change in bondholder wealth is calculated using the Yield Spread Change(YSC) and the change in acquiring firms' credit ratings. The empirical tests show that the CAR of 344 sample acquiring firms at the announcement is 3.59%, which confirms results of the prior research on M&As in Korean market. The average YSC for 35 sample acquiring firms between $2001{\sim}2006$ proves to be negative when we use the yield spread of firms with comparable credit ratings as a benchmark, which means that the acquiring firms' bondholders gain with the announcements of M&As. We find the same result using another benchmark-the yield spread of government bonds. The improvement in the acquiring firms' credit ratings one year after the M&As also indicates that the M&As, on average, increase bondholder wealth. Our test results are consistent with those of the existing studies on the effect of bondholder wealth after the M&As in the United States, which shows that the bondholder wealth increases after the M&As. We do not find the evidence that there is a wealth transfer from the acquiring firms' bondholders to the shareholders after the M&A announcements. Rather, this study confirms that the wealth of the acquiring firms' bondholders increases in the M&As in Korea.