As global climate change impacts become more apparent, countries are implementing various policies to achieve carbon neutrality that can be categorized into direct regulations and market-based indirect regulations. The latter, utilizing economic incentives, is considered more efficient in transforming corporate behavior and promoting voluntary efforts for carbon reduction. In alignment with international trends, South Korea has introduced the Emission Trading System (ETS) in 2015. Despite this, the domestic carbon market remains underdeveloped, with low ETS participation, particularly in the aquaculture sector. In order to activate external projects under the ETS, this study proposes short-term strategies including linking ETS with popular eco-friendly energy distribution projects, developing standardized monitoring techniques, and integrating carbon reduction initiatives with other support mechanisms such as direct payment programs. Long-term strategies focus on developing new methodologies for external projects, promoting the use of renewable energy, and enhancing technologies to reduce energy consumption in aquaculture operations. By implementing these strategies, the study aims to enhance the participation of the aquaculture sector in carbon reduction efforts, contributing to the overall goal of carbon neutrality.

본 논문은 한국 창작 뮤지컬 공연시장의 유통 구조적 문제점을 개선하고 발전을 도모하는 차원에 서 국내에 부재한 전문 창작 뮤지컬 저작권 에이전시의 효율적 설립을 위한 방향성을 연구하는 것 을 목적으로 한다. 국내외 뮤지컬 저작권 에이전시의 선행연구 자료는 찾기 어려웠다. 국내 저작권 법안과 저작권 신탁 관리 법안 및 국내외 에이전시 현황을 살피는 선행연구를 통해 연구의 필요성 을 제기하였다. 연구의 방법으로는 70년째 운영 중인 저작권 회사 MTI의 운영 전략 분석을 통한 사 회적 가치와 영향력을 도출하고 국내 저작권 에이전시 설립의 방향에 적용하여 전략을 제시하는 관 점에서 분석하여 기술하였다. 그 결과로 여덟 가지 전략을 도출하였다. 첫째 합법적인 유통구조를 확립하고 저작권 문화 발전에 이바지할 국제 에이전시 설립과 글로벌 전문 인력양성이다. 둘째 창 작 뮤지컬 개발의 원동력이 되는 창작의 메카로서의 조직 구축이다. 셋째 국제저작권 에이전시 시 장에서 ‘아시아 허브’ 임무를 수행하는 포지션의 확립이다. 넷째 IT 산업의 기술을 적극적으로 접목 하여 온라인 자동 결제 시스템을 갖춘 에이전시 설립이다. 다섯째 다양한 관객 맞춤 상품과 경험프 로그램을 개발하여 시장을 확장하고 국민의 삶의 질 향상을 도모하는 방향이다. 여섯째 국내 초중 고생들의 저작권 이용 체계 구축 및 예술 교육 활성화를 위한 청소년 맞춤 저작권 상품개발과 운용 이다. 일곱째 OSMU를 실현하여 풍성한 저작권 부가 상품의 관리가 철저하게 되는 조직이다. 여덟째 정부, 지자체, 교육기관 등의 협력을 끌어내는 거시적 거버넌스가 구축된 기관이다. 이와 같은 연 구 결과를 통해 한국 뮤지컬 에이전시의 설립을 위한 준비를 체계적으로 하고 그 결과 한국 창작 뮤지컬의 구조적 발전에 긍정적 영향을 미칠 수 있다고 제언하였다.

This study examined the feasibility of exporting dairy products from Korea to Vietnam by identifying characteristics of its dairy product market based on results from the analysis of its dairy product market, and surveys on consumers, wholesalers, and retailers. The results from surveys provide characteristics of Vietnam’s dairy product market, the propensity to consume Korean dairy products, and the feasibility of the Korean dairy product exports market. As rapid economic growth and changes in preference result in an expansion of import market in Vietnam, Vietnam’s dairy product market is highly attractive to Korean dairy products. Vietnamese consumers have high confidence in Korean dairy products and are willing to pay a high price for them. Besides, over 200 thousand Koreans are living in Vietnam. This is favorable to Korean dairy products exports. But the success of the Korean dairy products in Vietnam’s dairy product market also depends upon systematic disease controls, the establishment of its brand image, effective quality and sanitation/safety management, and government support. Notably, the economic effects of Korean dairy products exports to Vietnam are 68.7 billion won for a production inducement effect and 297 persons for an employment inducement effect.

Pair trading is a statistical arbitrage investment strategy. Traditionally, cointegration has been utilized in the pair exploring step to discover a pair with a similar price movement. Recently, the clustering analysis has attracted many researchers' attention, replacing the cointegration method. This study tests a clustering-driven pair trading investment strategy in the Korean stock market. If a pair detected through clustering has a large spread during the spread exploring period, the pair is included in the portfolio for backtesting. The profitability of the clustering-driven pair trading strategies is investigated based on various profitability measures such as the distribution of returns, cumulative returns, profitability by period, and sensitivity analysis on different parameters. The backtesting results show that the pair trading investment strategy is valid in the Korean stock market. More interestingly, the clustering-driven portfolio investments show higher performance compared to benchmarks. Note that the hierarchical clustering shows the best portfolio performance.

While protecting its lives and property from natural disasters such as floods and droughts, North Korea needs to develop into an informationized industrial society by securing renewable energy power in the era of energy transition. In addition, existing research has considered that a policy of continuous and consistent expansion of renewable energy based on the safety of the lives of ordinary people could be the solution. South Korea needs to recognize that the supply of energy for a minimum of living is more important to the North Korean people than the economic benefits of securing North Korea's renewable energy market. Therefore, in this paper, from that point of view, we have calculated the amount of electricity that North Korea lacks necessary for the lives of its inhabitants that can be replaced by renewable energy, and considered ways to estimate the market value.

본 연구의 목적은 한국 외식기업의 해외시장 진입유형 선택의 결정 요인을 제도이론을 적용하여 검증하는 것이 다. 외식기업에게 중요한 시장지원제도인 지적재산권 보호, 무역 자유, 투자 자유가 진입유형 선택에 어떻게 영향 을 미치는지 분석하였다. 통제와 자원투입 수준에 따라 진입유형을 거래형, 제휴형, 투자형으로 구분하여 순서형 로지스틱 회귀분석으로 검증한 결과는 다음과 같다. 첫째, 현지의 지적재산권 보호 제도가 취약할수록 통제와 자 원투입 수준이 높은 진입유형을 선택하는 것으로 나타났다. 이는 외식기업의 경영 성과에 중요한 지적재산권이 제대로 보호되지 않을 경우 기업은 이를 보호하기 위해 투자 부담이 증가하더라도 통제력이 높은 진입유형을 선 택하기 때문인 것으로 해석된다. 둘째, 무역 자유 제도가 엄격하게 시행될수록 통제와 자원투입 수준이 높은 진 입유형을 선택하는 것으로 나타났다. 외식업은 음식의 맛과 가격이 중요하므로 한국에서와 동일한 맛을 외국에서 구현하기 위해서는 식재료의 반입 가능성과 조달 비용이 매우 중요하다. 따라서 자유무역이 보장되면 필수 식재 료를 한국에서 직접 반출하여 맛과 가격경쟁력을 확보하려는 유인이 작용하는 것으로 볼 수 있다. 이렇게 거래를 내부화 하려는 것은 한식 식재료들이 해외 시장에서 활발하게 거래되는 품목이 아니기 때문에 현지에서 구하기 어려울 뿐 아니라 가격도 매우 비싸기 때문이다. 셋째, 투자 자유 제도에 대한 가설은 유의확률이 높아 채택되지 않았는데, 이는 외식기업의 특성상 마스터 프랜차이즈 계약을 하더라도 본사의 통제력이 상당 정도 확보되기 때 문인 것으로 유추된다. 본 연구는 한국 외식기업이 해외시장에 진출할 때 현지의 시장지원제도에 따라 진입 전략 에 변화를 준다는 것을 실증적으로 규명했다는 점에서 중요한 의미를 갖는다.

본 연구에서는 시판 중인 신선편이 어린잎채소의 식중 독세균 오염도를 조사하고 신선편이 어린잎채소에 사용되는 원료를 재배방법별(토양재배, 상토재배)로 채취하여 재배방법이 어린잎채소의 안전성에 미치는 영향을 조사하였다. 이를 위하여 시판 중인 어린잎채소 상품 181점과 어린잎채소 상품 원료를 재배방법별로 구분하여 117점을 채취하여 위생지표세균(대장균군, E. coli)와 병원성미생물(E. coli O157:H7, Salmonella spp., S. aureus)를 조사하였다. 그 결과, 시판 중 어린잎채소의 대장균군은 봄철과 여름철에 각각 3.60±2.53 log CFU/g, 5.59±1.18 log CFU/g로 여름철이 유의하게 높게 나타났다(P<0.05). 또한 E. coli의 경우, 봄철에는 A마트에서 수집된 시료 1점에서 검출되었으나 여름철에는 수집된 시료의 42.2%(43/102)점에서 검출되었다. S. aureus의 경우는 봄철에 1점에서만 검출되었고, E. coli O157:H7과 Salmonella spp.는 모든 시료에서 검출되지 않았다. 어린잎채소 원료의 대장균군의 오염도는 토양 재배한 경우 봄철에 1.15±1.95 log CFU/g, 여름철 에는 4.09±2.52 log CFU/g 수준이었다. 한편 상토 재배한 경우는 계절에 관계없이 5.0 log CFU/g이상이었다. E. coli 는 토양 재배한 어린잎채소의 경우 봄철에는 적청경채 1점에서 검출 되었으나 여름철에는 44.4%의 시료에서 E. coli가 검출되어 계절적인 영향이 큰 것으로 나타났다. 한편 상토 재배한 어린잎채소의 경우 봄철과 여름철에 수집 된 시료의 33%, 19%에서 각각 검출되어 시기에 관계없이 지속적으로 검출되는 것으로 나타났다. S. aureus의 경우, 봄철 상토 재배한 어린잎채소 1점에서 검출되었으며 E. coli O157:H7과 Salmonella spp.는 검출되지 않았다. 따라서 어린잎채소 상품의 안전성은 원료의 안전성과 밀접한 관련이 있으며 원료의 안전성을 확보를 위해서는 농업 생산환경 위생관리 기술 개발과 보급이 필요하다.

This study examined the causal relations among brand personality, brand identification, and brand equity of Korean SPA brands that target Chinese consumers. Data were collected from 600 Chinese consumers residing in Beijing and Shanghai from August 15th to August 30th of 2015 by using convenience sampling; 561 of the questionnaires were used in the statistical analyses. Structural equation models were employed using AMOS 22.0. The results were as follows. First, the factors of Korean SPA brand personality, such as sophistication, competence, tenacity, and interest, exerted significant influences on the brand identification, while honesty had no significant influence on brand identification. Second, brand identification had significant influence on brand awareness, brand image, and brand loyalty. Third, brand awareness showed significant influence on brand image and brand loyalty. Fourth, brand image had significant influence on brand loyalty. These results indicated that brand equity can be strengthened by enhancing brand identification with the proper brand personality. This demonstrates that if Chinese consumers can associate Korean SPA brands with a sophisticated, attractive image, brand identification may be improved and brand equity may be strengthened in the long run, providing basic data for establishing efficient marketing strategies for Korean SPA brands in the Chinese market.

In this study, hardness, which is one of the most important texture properties of meat products, was investigated in order to evaluate the potential of using crushed meat products as food for seniors. The hardness of crushed meat products in the Korean market, such as hamburg steak (12 products), meatball (8 products), ddeokgalbi (rib patties, 13 products), and wanja (meat dumplings, 10 products) were analyzed through a texture analyzer. Also, the hardness of UDF 1st grade hamburg steak (Japanese care food) was assessed in comparison with the texture characteristics of crushed meat products. The mean value of hardness of 43 crushed meat products purchased in the Korean market was 64,733±12,319 N/m2 (23,650-102,780 N/m2) while the hardness of UDF 1st grade product was 50,910±4,990 N/m2. The hardness of 16 crushed meat products was not significantly different from that of UDF 1st grade products (p<0.05). On the other hand, crushed meat products had higher relative standard deviation (RSD, %) values of hardness (mean: 19.6%, from 7.8 to 43.1%) than the RSD of UDF 1st grade products (9.8%) except for three products. Therefore, crushed meat products could be a developable “food for seniors” if deviations of texture are minimized. These findings on texture properties could be an effective data base for the development and quality control of “food for seniors” using meat materials.

본 연구에서는 국내 유통 중인 농산물 9품목(n = 578)에 대한 납과 카드뮴 함량을 조사하고 이들의 섭취로 인한 위해성을 평가하고자 하였다. 납과 카드뮴의 함량은 마이크로웨이브 분해 후 ICP-MS로 분석하였다. 조사대상 농산물의 납 평균 함량은 각각 보리 0.014 mg/kg, 완두콩 0.010 mg/kg, 강낭콩 0.008 mg/kg, 녹두 0.006 mg/kg, 파인애플 0.008 mg/kg, 살구 0.016 mg/kg, 매실 0.015 mg/kg, 자두 0.021 mg/kg, 대추 0.019 mg/kg이었고, 카드뮴 평균함량은 보리 0.017 mg/kg, 완두콩 0.004 mg/kg, 강낭콩 0.007 mg/kg, 녹두 0.005 mg/kg, 파인애플 0.001 mg/kg, 살구 0.002 mg/kg, 매실 0.002 mg/kg, 자두 0.002 mg/kg, 대추 0.003 mg/kg이었다. 모든 시료의 납, 카드뮴 함량은 EU, CODEX 및 국내 기준보다 낮은 수준이었다. 조사 대상 농산물에 대한 납, 카드뮴의 인체노출량을 산출한 결과, 납은 잠정주간섭취허용량(PTWI, 25 μg/kg b.w./week)의 0.067%, 카드뮴은 월간잠정섭취허용량(PTMI, 25 μg/kg b.w./month)의 0.28%이었다. 이상의 결과는 조사 대상 농산물의 납, 카드뮴 오염도와 이들의 섭취에 의한 위해성이 모두 낮은 수준이라는 것을 보여준다.

2016년 중국으로 우리나라의 6개 RPC에서 쌀 수출을 개시 하면서 얻어진 우리쌀의 품질대비 가격경쟁력의 우수성과 수출 초기에 발생하였던 문제점 등의 해결 사례는 다음과 같다. 중국내 수입하여 유통중인 중단립종의 가격경쟁력은 일본산과 대만산이 우리 수출쌀에 비해서 2~3배 가격이 높게 유통 되고 있어 우리쌀의 품질관리 여부에 따라 수출가능성은 매우 높다고 할 수 있다. 쌀의 백도는 우리나라 수출쌀이 35내외로 낮은 편이나, 중국의 흑룡강성 최고급쌀인 우창쌀의 백도는 40이상으로 높은 편이다. 배아잔존율은 우리나라 수출쌀이 24% 정도이고 중국의 흑룡강성 최고급쌀인 우창쌀은 5%내외이다. 백도는 40이 상으로, 배아잔존율은 하계 3%이하, 동계 5%이하로 가공하였을 때 중국의 소비자 선호도가 증가 할것으로 사료된다. 진공포장이 풀리는 것을 방지하기 위해서는 쌀 사이에 충진재를 넣거나, 포장시 2중접착을 하거나, 열 접착시에 시간을 1~1.5초, 온도를 130~150oC, 진공압력을 270~300 mmHg로 하고, 이동시 편리성을 도모하기 위해 포장지 상부에 손잡이를 만드는 것도 중요하다. 훈증소독은 메틸브로마이드 보다는 인화수소를 이용하는 것과 중국 남방지역으로의 하계 수출시에는 고온 다습한 것을 감안하여 수분함량을 13%내외로 조절하는 것을 추천한다.

Bargain shopping provides financial benefits and psychological pleasure to shoppers. Bargain shopping is fundamentally responsive behavior in that shoppers respond to various deals offered by retailers or manufacturers in the form of coupons, in-store discounts, or rebates. No matter how actively shoppers search, there are no deals available unless manufacturers or retailers offer them. This type of bargain shopping is found in most countries in the world that adopt market economy system. Haggling is another form of bargain shopping, which involves a process of direct and active price negotiation between a shopper (i.e., buyer) and a seller. Haggling is rarely found in institutionalized retail systems of Western countries. In Asian countries such as South Korea, it is customary to negotiate for lower price not only with street vendors or in free-standing stores in traditional market places but also in the conventional retail stores located in metropolitan shopping areas. In Korea, even foreign travelers are often advised not to buy at the initial offer price. The travelers experience difficulties negotiating with sellers because they rarely have such haggling experience in their own cultures. We view haggling as another form of bargain shopping that is uniquely observed in Asian cultures. However, it has been hardly researched in mainstream marketing literature. The purpose of our study is to explore the nature of haggling experience from a shopper’s perspective. Uncovering the underlying dynamics of the haggling process will provide rich insights into the understanding of retail markets of Asian countries. A qualitative interview was conducted with eighteen individuals who were known as or who reported to be a good haggler. Ten participants were male and the rest were female. Participants’ age raged from 20 to 27 years old. Fourteen were college students and all but one were Koreans. Interviews were conducted in Korean except for the one international exchange student. Semi-structured interviews were conducted for about an hour with each individual. Data included their experiences of shopping including haggling, strategies to obtain good deals, and feelings of bargaining. Interviews were audio-recorded and transcribed verbatim. Data were analyzed with open coding and a focused coding method. Participants reported they haggled over the price of various goods including clothes, consumer electronics, and mobile phone in various retail shops except for department stores and high-end brand stores. Even the foreign participant mentioned they haggled with sellers otherwise she would have felt being ripped off. The first theme emerged is that haggling is grounded on consumer’s shopping capital. It seems natural for Korean participants to engage in the price negotiation. They had informally learned effective haggling from their parents and older siblings during their childhood and from peers and friends after they grew up. They reported that they learned to haggle otherwise they would be overcharged. They develop various skills based on their own and other shoppers’ experiences. This learning process reflects the role of shopping capital in haggling, context-specific form of human capital (Kwon & Kwon, 2007; Ratchford, 2001). Consumers hold various levels of shopping capital. Shoppers employ different shopping strategies to maximize their shopping value depending on the degree of the possession of shopping capital (Kwon & Kwon, 2013). Likewise, haggling is bargain shopping that utilizes their holdings of shopping capital for financial benefits. Hagglers negotiate for better prices using the knowledge and skills that they obtained, accumulated, and updated over time. Hagglers hold a set of skills, such as pretending not to have much interest, or starting from an unreasonably low price and going upward rather than downward in negotiation. The shopping capital applied in this type of haggling is considered as general, including product knowledge, retail system, and price and promotion information, which is transferrable to other shopping contexts. Competitive disposition was observed in haggling drawing upon shopping capital. These hagglers stated that they felt a sense of accomplishment and had a pride of having expertise and control over the negotiation process. One participant mentioned haggling as a “zero-sum game.” Haggling is to buy at the lowest possible price and win over the seller or other shoppers. The second theme emerged is that haggling is grounded on consumer’s relationshiporiented disposition. The focus of relationship-oriented haggler was less on their expertise and shopping knowledge. They pursued good deals drawing upon the relationships established over time and/or the feelings of closeness and relatedness with the sellers at the point of sales. This type of hagglers makes conscious efforts to build and maintain good relations with the sellers of the stores that they patronize. Participants stated that they sometimes stop by the store just to say hi. The recommended the store to friends and brought it up to the sellers on their next visit. In the case of shopping at a new store, they tried to make good impressions by smiling, having good manners, or talking kindly to the seller. One participants stated that he tried to create a sense of connection with the seller by asking personal questions: “where are you from?” “What high school did you go to?” “Where do you live now?” “Do you watch X drama?” This feeling of connection provides the foundation for friendly negotiation and makes it difficult for the seller to say no to their request for discount. Cooperative disposition was observed in relationship-oriented haggling. These hagglers view the negotiation process as a way of obtaining the outcome that benefits both parties (i.e., shoppers and sellers). The lowest possible price is not the goal of their negotiation. Their goal is to reach the optimal price point that is cheap enough for the shopper and, at the same time, that yields a reasonable profit to the seller as well. Seeking for the mutual interest is the most distinctive aspect of this deal shopping, in contrast to the competitive disposition of shopping capital-based hagglers. Relationship-oriented hagglers emphasized the importance of trust. Even in the stores that they visit first time, the hagglers determine whether they can trust the seller based on their appearance and manners of conversation. Feelings of trust appear to be the necessary condition to proceed to the negotiation process in pursuit of reaching at the price point that benefits both parties. This cooperative disposition of haggling reflects the value of Asian culture emphasizing the harmony and interdependence among the members of a social system. The two types of haggling discussed above, the competitive shopping capital-based and the cooperative relationship-oriented haggling, should not be understood as mutually exclusive categories. Although some participants showed a strong tendency of one or the other category, a good number of participants appeared to take hybrid approaches of a goal-driven competitive disposition and, at the same time, being considerate of the seller’s interest. The findings present implications for understanding the intertwining nature of global and local consumption. The former type of haggling is based on the human capital that is applicable in the global consumption context as well as in multi-shopping channels. Savvy shoppers from any corner of the world would shop at global shopping sites (e.g., Amazon.com) based on their shopping capital. They also adeptly shop while traveling abroad. On the other hand, the latter type of haggling is based on performance of interpersonal communication in the local shopping context, mostly at brick-and-mortar retail stores that adopt free-price system. Because this distinctive type of haggling requires face-to-face contact, it is mainly applicable to local shopping experience. However, some online shopping sites began allowing price negotiation through chat rooms, we believe that the utility of relationship-oriented haggling would be more extensive in the global context in the future, which warrants further studies. Our study is one of the first scholarly efforts that attempt to explore the nature of price haggling in retail contexts. The two distinctive approaches of price negotiation appear to utilize different sources of expertise and have different assumptions based on and goals to achieve. These findings of Korean retail market can provide a foundational understanding toward more broad explorations of unique haggling behaviors in various Asian cultures. More future research is suggested in other Asian countries related to this topic.

This paper aims to analyze the characteristics of the contemporary Chinese fashion market and the competitiveness of Korean fashion brands in China. Fashion professionals experienced in both the Korean and Chinese fashion markets participated to investigate the Shanghai market and consumers. The results of in-depth interviews show that Shanghai is the most favorable city among Tier 1 cities for Korean fashion brands planning on entering into the Chinese market. Shanghai consumers are open to international brands and highly prefer newness in fashion. Contemporary menswear was selected as a potentially big market due to the increase of unique, young, upper-middle-class male consumers. The Korean fashion brands’ strength is that they are capable of satisfying Shanghai consumers with excellent product planning and sensory design capabilities. Their disadvantage is that their brand recognition is weaker than that of global and international brands, and their ability to localize to the Chinese market is weak. The opportunity comes is from the Korean Wave, which is a positive for Korea's products and has good geographical access. The threat is that the Shanghai market is fiercely competitive; having access to many worldwide brands, and the competitiveness of Chinese brands is on the rise. To enter the Shanghai market, creative design ability, trendy product development, skill, and appropriate PR methods such as using Korean culture contents would be required to satisfy the young, powerful consumers in Shanghai.

Halal literally means “permissible” in Arabic. The global Halal industry output value amounted to USD 3.2 trillion of which industry accounted for 35%. Chinese Halal food market is approximately USD 21.2 billion, and shares about 3% of the world’s Halal food market. About 24.4 million live in China of which 13.4 million reside in Xinjiang Weiwuer Autonomous Region while 2.5 million live in the Ningxia Hui Autonomous Region. Out of all countries that belong to the “One Belt One Road” (i.e. New Silk Road Economic Belt) project, 27 are Muslim countries. In addition, 65% of the 1.8. billion global Muslim population spread out along the Belt. If we can develop proper technologies accustomed to locals in China, select profitable export items, and conduct effective marketing strategies such as story-telling method, entering the Chinese Halal market may become realistic. Fundamentally, China is close to Korea in multiple ways which can be seen in our policy, economy, culture, etc. China highly favors the “Hallyu” Image that Korea is spreading all over Asia. “High-value-added organic products promoted by Hallyu” might be plausible to target the Chinese Halal market. This is a niche market for Korean organic food products from clean and fresh forests in Korea, which can be exported to China, and labelled with Hallyu brand as well as Halal certification.

1998년에 국내 주식시장이 전면 개방됨에 따라, 외국인자본이 국내 주식시장에 거대한 투자주체로 등 장하게 되었다. 일반적으로 외국인투자자는 정보비대칭으로 말미암아 국내 주식시장에 대한 투자에 있어 서 열위를 가질 수 있는 동시에, 반대로, 선진화된 분석기법과 투자기법으로 투자수익에 있어서 우위를 보일 수 있다고 연구되고 있다. 본 연구는 국내 주식시장이 전면 개방된 초기의 시점에서 외국인투자자들 은 어떤 투자행태를 보였고, 그들이 보인 투자행태가 국내 기관투자자 및 개인투자자들의 투자행태와 차이점을 보이는지에 대해 고찰하고 있다. 또한, 투자성과에 있어서 우위를 보인다고 연구된 외국인투자자 들의 투자행태를 국내 기관투자자들이 추종했을 것인지에 대해 탐색적 접근을 시도하였다. 이를 위해 주식시장 전면개방의 초기단계로서 1999년의 자료와 일정시간이 흐른 단계로서 2003년의 자료를 통해 투자주체별로 각각 실증하였다. 실증결과에 따르면, 1999년 외국인투자자는 자산규모, 평균 주가와 정(+)의 관계를 나타냈다. 기관투자자는 기업규모, 총자본순이익률과 정(+)의 관계를 보였고, 주당 순이익과는 부(-)의 관계를 보였다. 개인투자자의 경우, 주당순이익과 정(+)의 관계, 기업규모와 총자산순 이익률 및 평균주가와 부(-)의 관계를 보였다. 예상한 바와 같이, 전면개방 초기단계에서 외국인투자자와 기관투자자, 개인투자자는 선호하는 주식의 특성에 있어서 차이점을 드러내었다. 2003년 외국인투자자는 기업규모와 부채비율 및 PBR값과 정(+)의 관계를 나타내었다. 기관투자자의 경우, 기업규모, 평균주가, 배당률, PBR값, 수출비중과 정(+)의 관계, 부채비율, 주당순이익, PER값과는 부(-)의 관계를 보였다. 개인투자자는 기업규모와 PBR값과 부(-)의 관계를 확인하였다. 이를 통해, 일정 시간이 흐른 단계에서 기관투자자가 외국인투자자의 투자행태를 추종하였다고 판단하기는 어려웠고, 따 라서, 개인투자자와 달리 기관투자자들은 외국인투자자의 투자행태를 추종할 것이라 기대한 가설은 지지 되지 않았다.

Choline is an amine essential to maintenance of good health. Here, we modified the ion chromatographic method for measuring choline described by Laikhtman & Rohrer and validated by the ICH guideline and applied it to monitoring of choline content in infant formula in the Republic of Korea. The Certified Reference Materials (CRM), NIST 1849a, were used for validation of the modified method. The parameters of validation were linearity, range, specificity, accuracy, precision, LOD, LOQ and recovery. The linearity, R2, was above 0.999 and the analytical range was 2.5 to 50 μg/mL. The specificity was confirmed by the retention time (RT) and positive tests with calibration standard and CRM. The accuracy, precision and recovery values were 99.6 ± 2.41 %, 2.42 % and 90.8 - 92.8 %. The LOD and LOQ values were 0.03 mg/kg and 0.17 mg/kg, respectively. Five livestock products inspection agencies voluntarily participated in the collaborative study. The result, HORRAT value was 0.8 which was within the reference value 0.5 – 2.0. The validated method was applied to the analysis of choline in infant formula in the Republic of Korea. The results also conformed to 'The Standard for Livestock Products Labeling'.

Vitamin K1 is a fat-soluble vitamin essential for human health. We used the Association of Official Analytical Chemists(AOAC) method 999.15, validated by the International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use(ICH) Guideline, to monitor vitamin K1 content in infant formula in the Republic of Korea. The Certified Reference Materials (CRM), NIST 1849a, were used for validation of the test method. The parameters of validation were linearity, range, specificity, accuracy, precision, LOD, LOQ and recovery. The linearity, R2 was above 0.999 and the analytical range was 0.001 to 0.22 μg/mL. The specificity was confirmed by the retention time (RT) and positive/negative sample test. The accuracy, precision and recovery values were 101.13 ± 0.13 %, 3.15 % and 81.60 % - 99.78 %. The LOD and LOQ values were 0.582 ng/mL and 1.76 ng/mL, respectively. Five livestock products inspection agencies voluntarily participated in the collaborative study. The HORRAT value was 0.6, which was within the reference value 0.5 – 2.0. The validated test method was applied for the monitoring of vitamin K1 in infant formula in the Republic of Korea. The results also conformed to 'The Standard for Livestock Products of Processing and Ingredient Specifications' and 'The Standard for Livestock Products Labeling'.