The TeenBiz 2013 August by theteenbiz

2013. August

UME L O V

The Entirely Student-Run Business Newspaper:

The TeenBiz

Editor: Stephanie Y.

This Month’s Hot News: 

Before You Launch A Startup Business



What is “Paper Company”?



What is Teenagers’ Dream?



What is “Black Swan Effect”?



Who Are “Left-Behind” in the Economic Recovery?



3D Printers: More of Possibilities or More of Dangers?



Hurricane Andrea Devastates Local Economy



The Magic of Abercrombie and Fitch on High school Students



The New Trade Market 'KONEX'



North Korea - " Go and Get the Grass Seed! "



'Yen Weakness' and the Korean Wave



Stress Test of Wall Street



Business of Baseball: Baseball Industry’s High Profitability and Equality



China Slacking Economic Growth



Google: The Technology Giant



Clear Breaches of Tuna by Weak Yen

Contents: Startup Business

1,5

Paper Company

1,4

Teenage Dream Black Swan Effect

2 2-3

Economic Recovery

3D Printers

Before You Launch a Startup Business Writer: Bongha Lee Retail, a sector of the global business circulation economy, has been widely challenged among the startup business owners as a method of burgeoning finance for entrepreneurship. More importantly, the unprecedented growth of IT industry is now encouraging teenagers to participate in social innovation through a diverse medium: online business. Online business may be one of the most suitable ways to develop preentrepreneurship at times when legal consideration hampers the establishment of startup businesses. Nevertheless, preparation for a solid business plan in order to diminish the potential foundering impact has been tactlessly constructed that

Hurricane Andrea

Abercrombie & Fitch

KONEX

Grass Seed Project

Yen Weakness

Writer: Jane Park

These days, there are many news about paper companies. Through this way, the wealthy people pocket public money and become even richer. Let us find what these paper companies are

Stress Test Business of Baseball

8-9

China’s Slacking Economy

Google: The Tech Giant

Tuna & Weak Yen

Volume 2. News 8.

many fail to realize the gravity of initial business routes. Only 47% of the retail businesses could evince potential success after four years. The rate continues to rise. This discovery portrays the incompetence of a business that lacks technological assistance compared to major companies, leading numerous startup businesses to hiatus or deconstruction. It is meaningless to expect a new business to survive without registering a business license and retail/ resale permit from the U.S. government, especially for teenagers under the supervision of the guardian. EBay, however, allows those who wish to establish a small business without requiring an intricate business plan or license. There is no need to

submit a Certificate of Occupancy. A new fashion and entertainment retail, Bongmall, has recently reduced the unnecessary finance by designating its website under the domain of Wordpress.com to initiate a blog-style business. There is a risk of capital over launching of 500,000 business entrepreneurs. Three trillion dollars cannot be ignored without a corroboration of major companies. In addition, the VAT return from every product sales is relatively lower or even exempted. According to YA 2007, 50% of maximum tax exemption is given next as a 200,000dollar normal charge income for the three consecutive YAs.

Continued on Page 5

What is “Paper Company”? and how they work. A paper company equals to a ghost company. In other words, this fake company is a means to reap more money. Then, how can

they get more money by building paper companies? It is simple. Because these companies do not want to pay taxes, they build a paper company in Virgin Islands.

Continued on Page 4

The TeenBiz

What is Teenagers’ Dream? Writer: Youngju Kwon As the range of jobs is nationally getting wider and wider, students are now required to attain the abilities to become a "global leader". These abilities include fluency in English, confidence, great learning skills, leadership, creative thinking and daringness. With this upward trend in global business, our government emphasizes the importance of self-will and creativity in our education system. We see this emphasis in our middle school, high school and college curriculums. Despite such government effort, however, our students are not up to par with the global generation. Evidently, students nowadays only want commonly well-known jobs such as police officers, judges, doctors, teachers, and so on. The range of these well-respected jobs is becoming narrower as time goes by. Look around the students who are studying for their dreams. We hardly find students who want to pioneer a new field of occupation. What is the reason, then? It is probably because of the fear that they will fail. Parents and surrounding people expect students to achieve great success and earn a lot of money. So students tend to pursue jobs that guarantee a lot of income and a convenient life. Also, limits in their education could narrow their dream spectrum. Teenagers only learn in the classroom with textbooks, not in the real world. So they cannot see and experience the big world and have limited knowledge of reality.

For teenagers of the global generation, real-life experiences and studies are necessary — evident from the saying, “one seeing is much better than hundreds of hearing.” Passive learning is meaningless. Unfortunately, the teenagers’ range of desirable jobs is becoming narrower as the range of jobs as a whole is increasing. If this phenomenon continues, there will be no development and may even create a national economic recession. Then, what should the government do to encourage our teenagers to explore various jobs and face new challenges with confidence? First, our education system should give teenagers more chances to experience real jobs and time to think of their future, not just suppress them with great amount of studying. Also, students must learn to free themselves from parental pressures to always succeed. Teenagers must seriously and independently think about their future, explore a variety of jobs, then choose the job that they can really excel in and want. Our nation can develop only if our teenagers open various new fields of occupation and truly become global leaders.

What is “Black Swan Effect”? The effect is spotlighted by the Asiana Airline accident in San Francisco Writer: Sang-tae Ahn On July 7 3:28 (in local time), people were shocked by the sad news from San Francisco; an airplane, HL7742, had trouble with landing on airstrip. Slamming the rear of airplane down on the ground and splitting it into two, the crash resulted in three casualties. The news embellished Korean media and international news channels with lament and condolence. Because of this horrifying event, the chief master of Asiana Airline apologized, and many economic experts expected that the event would backfire on related markets. While public was curious with the main cause of the accident, some eminent professionals shed a light on the influence: “Black Swan” effect. “Black Swan” effect is a term that represents an event that has miniscule possibility to happen but has a major effect. This word metaphorically means that just as people are prejudiced that swan is only white, they expect disastrous situations to not occur, but there is a possibility for the “unexpected but influential” event to happen. Not only could this term be used generally, but it has been widely

employed in political and economic context. The 9/11 attack in 2001, for instance, was an exemplary case that demonstrated how effective the “Black Swan” effect is. People in United States did not even expect any invasion from a threatening force within their border, but such expectation turned out to be a blatant mistake. After they were galvanized by the heinous event, Americans prepared hardily for warding off potential danger triggered by the “Black Swan.” They heightened their national security and costs for defending themselves. The U.S. Subprime mortgage crisis in 2007-2008 also exhibited how substantial influence an event imposes on both national economy and cosmopolitans. As a result from insolvency of mortgage delinquents and defaults, the economic collapse led to worldwide economic downturn. As shown in those two current issues, the “Black Swan” effect is regarded as a considerable factor to be applied to an investment strategy. This strategy is to protect one’s asset from losing and falling to zero.

Continued on Page 3

Volume 2 . News 8.

What is “Black Swan Effect”? - Cont’d

NTSB offers clues in Asiana crash / © Politico Source: http://www.politico.com/story/2013/07/ntsb-asiana-crash-clues-94372.html Instead of investing 100% of money to a company, “Black Swan” strategy acknowledges the possibility of an unexpected event and divides the money into two: 90% of all is for conservative investment and 10% is for speculative use. Although this method risks investors some deficit, it would yield substantial benefit when market decreases sharply. “Black Swan” became an umbrella term that encompasses from general phenomenon to political scope to economic realm. The cause of Asiana Airline accident is still obscure. Many experts and officials are still investigating and debating on what triggered this disastrous happening. Even though accidents from Korean airlines have rarely occurred since the 1990s, there has always been a possibility that it could happen. Nonetheless, people blindly believed that nothing was going to happen and disregarded the “probability”. Trickling down all pertinent businesses’ stock values, Asiana Airplane crash left an

incurable scar and instilled fear among the prospective passengers. With regard to the “Black Swan” theory, such ignorance in people brought out sharp downturn of relevant business’s stocks in the market, and it also left three casualties and a huge mental impact in people. As the principle of the “Black Swan” effect shows, we would rather have recognition of diminutive likelihood of disaster than put too much credit on present, preparing for an unexpected situation in economy and politics like this. We cannot exclude any infinitesimal probability of events with which we don’t want to encounter; we should consider the Black Swans hiding in the bush of unconsciousness.

It feels as if it were only yesterday when The TeenBiz launched its first publication. With less than five writers, The TeenBiz had experienced difficulties and certainly many flaws in the way it was run. However, as more teenagers showed their avid enthusiasm toward our newspaper, we have come to grow as a moderately big publication. To all of you who have joined our publication team from 2013 Summer Recruitment, we send our hearty welcomes. We hope you will find what you seek here. The TeenBiz has experienced a fast growth in both the number of participants and the number of articles per one publication. At the same time, we are very surprised to see each member choosing to depict a creative topic and turning it into a high-quality piece of work. Thank you. We hope to communicate with all of you in our next publication. Have a great summer! Yours Sincerely, The TeenBiz

Volume 2 . News 8.

What is 'Paper Company'? - Cont’d Virgin Islands is a small country, so the people do not have to pay a lot of tax. The tax is about 3% of their incomes; this is considered a very low rate. The wealthy abuse this fact. They pay little and the rest becomes their own. Virgin Island is a tool for the companies’ to embezzle public funds. Therefore, other people's recognitions of the island are getting worse. Even if

you search 'Virgin Island' on web portals, you can see related search words like 'Virgin Island Tax Heaven', 'Tax Heaven', 'Paper Company' and so on. But the other problem is that Koreans are also implicated in this situation. The police found so many people most of whom belong to major companies. Disappointed at them, Korean citizens are criticizing them

openly. The investigation is extended widely and accomplices were further found. In addition, because there would be more accomplices, the police is trying to search deeper. This happening made lots of major Korean companies' and Korea's status as a nation fall greatly. This issue should be solved quickly and the government should also work to correct the tax policy.

Paper companies come up in the related search lists of Naver / © Naver

Who Are “Left-Behind” in the Economic Recovery? Writer: Julie Na Eon Kim Gas prices are rising; growth is slowing, and jobs are still hopelessly not enough to manage the 12 million people who are out of work. Despite the news of an improving housing market and rising stock prices, most of the U.S households are far from experiencing a real difference. The question is whether this so-called “economic recovery” is truly happening for everyone in the country. Data shows that for the workers in the middle class, wage has fallen at an average rate of 4% ever since the recession “ended,” after adjusting for inflation. Moreover, housing analysts in New York City and San Francisco have shown concerns that growth in some of the housing prices may intensify the “affordability gap” which affects the lower-income households. For those in the middle to lower class, this “recovery” does not seem to be of any help.

Young homeowners also seem to be experiencing struggles as “depleted confidence, high unemployment, student loan debt, poor credit, low inventory, competition with investors and stricter qualification standards,” as cited by USA Today, make it even more difficult for young adults to purchase homes. Home ownership levels for those aged from 25 to 34 has decreased tremendously, from 46.7% to 39.7% in the years 2006 to 2011, showing a 7% downfall. Those between 35 and 44 have also shown a deep decline in

ownership rates with a 6.3% downfall. Things also do not seem to be looking up for older workers either, as long-term unemployment plagues the older generation far more than those of the younger. Data from the U.S department of Labor indicates that the number of those who have been unemployed for more than a year for Americans aged 45 and over has quadrupled since 2007. Inner city teenagers and female workers also seem to be suffering, as they find it more and more difficult to find work. As told by Thea Lee, an economist and the Deputy Chief for the labor union AFLCIO, “It is a pathetic recovery.” “It really is extraordinary that four years ago we declared the recession over, but we are not within spitting distance of full employment.”

“It is a pathetic recovery,” says Thea Lee, the Deputy Chief of AFLCIO / © AFL-CIO / Source: http://www.aflcio.org/Multimedia/Videos/Thea-Lee-AFLCIOConference-Beyond-Free-Trade

Volume 2 . News 8.

Before You Launch a Startup Business - Cont’d New frontier venture company, Detroit, officially announced that the company is broke, whereas the Motor City is unofficially broke after the ongoing illegitimate bankruptcy protection. This indicates a potential foible for machination. Unlike Korea’s system in which the CEO is responsible for the bankruptcy, the American system calls the inability to operate in the mechanical system a legal issue by the investors, and this is equally distributed to all just like the

Detroit’s $18-billion debt. According to Ray Hannesey from NewsEntrepreneur.com, “As customers reduce spending, the city employee fights against any reduction in pays or benefits.”

for the new entrepreneurs to regulate their current expenses.

This must be another point to consider regardless of the situation. Analyzing the inundating system of economic management, and how the investment insinuates the current possibility to success - this is the key © FreeDigitalPhotos.net

3D Printers: More of Possibilities or More of Dangers? Writer: Sung Bin Kang 3D printing, otherwise known as “additive manufacturing” has been recently commended as the technology of endless possibilities. Its possibilities have spread to field like architecture, construction, industrial design, automotive, aerospace, military, engineering, civil engineering, dental and medical industries, biotech, fashion, footwear, jewelry, eyewear, education, geographic information systems, and food. 3D printers’ well known use has been in the field of prosthetics. The story of a South African carpenter and a special effects artist from Washington in their journey of making an affordable prosthetic hand has moved hearts of many people in the world. The duo brought down the generally unaffordable price of prosthetic hands around $10,000 to significantly lower price of $150. This was only possible through the use of 3D printers. Similarly, a duck was recently given a prosthetic foot. These cases prove the countless uses of 3D printing. Unfortunately, all technologies have two edges. Well-known danger of 3D printing is in the making of firearms. Recently, a gun expert called CanadianGunNut released a video in which he tested a .22 single shot rifle of which an only metal piece of 1 inch

3D Printer may bring sensations or dangerous implications / © 3dguy.tv Source: http://3dguy.tv/3d-printed-smartphone-covers-for-3d-printingroofing nail fire pin. CanadianGunNut succeeded in firing dozen bullets when the barrel finally split in half. Like this, 3D printer can be a danger in the way of using it. Another situation in which 3D printers can be dangerous is when they are used in wrong environment. When 3D printing is in action, it emits ultrafine particles into the air. These particles, if not eliminated with ventilation system, can be breathed in by humans and can cause health problems. Places without ventilation system can be homes and lot of other places. Use of 3D printers in these places can be detrimental to the health of their users.

3D printers are well appreciated for its versatility, but at the same time watched cautiously for its dangerous uses. The bottom line is that the benefits of 3D printers are immeasurable and its dangers fixable.

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Hurricane Andrea Devastates Local Economy Writer: Minjee Kim In June, powerful hurricane Andrea swept through Cuba and much of the East Coast of the United States, devastating factories and farms. The concept of the production possibility curve can be applied to this situation. A production possibilities curve (PPC) is a curve that shows the maximum combinations of goods and services that can be produced by an economy in a given period, if all the resources are being used fully and efficiently and the state of technology is fixed. The diagram shows the PPC for Cuba before and after the hurricane. Before the hurricane, Cuba had the possibility of producing anywhere on PPC1. In reality, it is unlikely to have actually been producing on the curve, because there are always

some resources that are not in use. The hurricane destroyed some of the country’s factors of production, thereby reducing the potential output of Cuba and shifting the curve inwards to PPC2. In this case, the factors of production called land is no longer able to produce as much agricultural output as it could before because of the damage done to the fields. Damage to factories means that Cuba has lost some of its factors of production known as capital. This means that Cuba can currently produce fewer manufactured goods. Although many people were displaced, fortunately there were only three losses of lives and the labour force is keen to get things going. According to local entrepreneurs business will be back to normal by this time next year.

The Magic of Abercrombie and Fitch The New Trade Market 'KONEX' on High school Students Writer: Janie Ha Abercrombie and Fitch is a casual American retailer aimed at consumers aged between 18 to 22. This brand has been gaining a lot of attention from Korean consumers, especially high school students. Abercrombie and Fitch is relatively new in Korea, and maybe that is the reason why it is so popular. However, this brand received negative reviews from the media due to racist comments and the CEO's obsession towards the American” beauty. Abercrombie and Fitch is famous for its sweaters and t-shirts. The brand is very popular among teenagers in Korea even though its products are very costly. It is just like the North Face syndrome, in which everyone wants to own one and there is a big chance that nobody is going to wear it next year. Why do they show adherence to this brand so much? Is it because it is American? It is just like any other Korean brand but with a different label. One thinks that Abercrombie and Fitch should not be gaining so much attention.

Writer: Do Hyun Choi Today's CEO of Abercrombie and Fitch, Mike Jeffries stated that "He does not want larger people shopping in his store, he wants thin and beautiful people. He does not want his core customers to see people who are not as hot as them wearing his clothing. People who wear his clothing should feel like they are one of the ‘cool kids’.” This is not the end of his sayings; he also stated that he wants only white people to wear his clothes. He may be the CEO of one of the coolest outfitters, but with this kind of mindset, he should not be successful. Of course, Abercrombie and Fitch is a beautiful retailer, but it does not deserve to gain too much attention from consumers.

Korea Exchange already has two trade markets of stock - the KOSPI and KOSDAQ. But the KOSPI and the KOSDAQ are only for the enterprises. For these reasons the small enterprises have had difficulties in growing industries or businesses with stocks. However, in July 2013, The new stock trade market called 'KONEX' was opened. One thinks the core of capitalism 4.0 is to “coexist.” In this context, KONEX is one oft he most important opportunities to construct a steady base of coexistence. From here, KONEX must have got its support. That is the only way to grow both big and small enterprises and consumer markets.

In conclusion, Abercrombie and Fitch is too expensive for teenagers to wear, and by looking at the CEO; he should not gain too much fame if he is going to think with that mindset.

Volume 2 . News 8.

North Korea - " Go and Get the Grass Seed! " Writer: Yoon Jung Shin All parts of North Korea are absorbed in “turfing” the garden. Kim Jong Un, the new leader of this isolated country, installed the 'Grass Laboratory' and offered to all the citizens about 1kg (2.2pounds) of grass seeds per one family with four family members. Also, he encourages them to develop some various grass that have not been announced yet. The main purposes of this project are to earn foreign currency and decorate the all-around landscapes. However, the general responses of citizens are negative. They have complaints with several reasons. First, their livelihoods are now at risk. Their conditions are getting worse because of this grass project. As many people know, most of the economic strengths of North Korea has been invested in the technical development, not to the ordinary rations. According to one North Korea defector who lives in South Korea, only a minority of people can grab some golden chances to

receive food rations. In these circumstances, they had barely made ends meet with their small fields, but now, they have to plant grass seeds in that fields. Of course, their yields will terribly decrease. Also, many of the citizens get cuts on fingers from sharp materials which are spread all over the fields, such as fragments of glass. They avoid this problem by choosing temporary expedients that put some kinds of thimbles on their fingers, but this method cannot work perfectly. Especially, collecting grass seed has become a duty that students have to complete if they want to graduate their schools. Thus, the problem is growing serious. Finally, most of these sort of projects frequently have ended in failure, so the reliability of the citizens is in bad shape. For instance, Kim had tried to make mulberry fields in the center of Pyongyang-Si, the capital of North Korea, and had also tried to

'Yen Weakness' and the Korean Wave Writer: Hyeon Ju Cho (Diana) Recently, Japan has had difficulty with its economy because of the Yen weakness. This can be a problem for Japan and also other countries all around the world. Korea cannot be the exception. As Japan is located nearby Korea, this economy emergency is affecting Korea a lot in many ways. The most serious change is tourist business in Korea. Since there are Korean waves around the world, many tourists are visiting Korea. They usually watch performances that reflect Korean culture such as Nanta, Miso, Jump and Bibab. Most of tourists who watch this performance were Japanese but the number of them has reduced by about 25% compared to last winter. Traditional Musical 'Miso' was famous to Japanese who came to Korea through the Korean wave. Until last

year, the amount of people increased by up to 120% compared to the year before. However, since the Yen weakness reduced the number of Japanese tourists, theaters are worrying about how they are going to fill the empty seats. Furthermore, 25% of audience in the performance 'Jump' was Japanese, and now, their audience rate has been decreased by up to 40%. This phenomenon is more serious in the K-pop industry. In addition, Yen weakness also affected the alcohol industry. The import rate of Korea's representative alcoholic drink Makkolli, Soju and beer has decreased a lot. In April, Soju, beer and Makkolli each decreased by 11%, 23.6%, and 50.7% compared to last year. This can be a huge damage. This is just a start. Experts predict that if this Yen weakness continues, our whole economy will decrease about 0.2%.

plant lots of Korean spice viburnum to earn foreign currency, but all of these projects came to nothing, and had wasted the manpower and money. As the case stands, people are distrustful about this grass seed project. But in reality, the leader does not seem to care what anyone else is thinking.

Stress Test of Wall Street Writer: Joongwu Kim On July 18, the test for cyber attack was conducted. The simulation set up a situation in which the stock market of the United States was raided with cyber attacks and tested whether banks were capable of dealing with a series of computer hacks. Huge investment banks including JP Morgan, BOA Merrill Lynch, Citigroup, and Wellsfargo participated in the event. Along with such an event, in Wall Street, the capital of the worlds’ finance, ‘Stress Tests’ are being conducted. ‘Stress Test’ is a practice of provision about cyber hacking and pandemics, which causes a critical risk of financial collapse. A test will be carried out in November to prepare for fatal infectious diseases such as novel influenza and MERS coronavirus. This test will check whether financial systems are run ordinarily when over 30 percent of employees do not attend work because of the epidemic. ‘Stress Tests’ show the factors that make the global economy and large financial institutions monetarily dangerous. However, the test is not perfect and it is unclear whether these tests play a significant role in protecting fiscal systems from various problems.

Volume 2 . News 8.

Business of Baseball: Baseball Industry’s High Profitability and Equality While values of Major League Baseball teams are rising, the industry is becoming equal

© Tiq IQ Blog / Source: http://blog.tiqiq.com/2013/03/new-york-yankees-tickets-2013-still-expensive Writer: Yong Jin Lee Many people might wonder how Yankees are able to afford a team with numerous players of astronomical salaries. Well, Yankees’ affordability could partially be attributed to the increasing sources of revenue. According to Forbes’ annual financial evaluation of Major League Baseball (MLB) teams, 2012 season’s average MLB team value has risen 23% compared to the previous season. With the new national broadcasting fee contract in act in the year 2014, MLB in total will gain $12.4 billion, bringing teams unprecedented amounts of revenue. It seems that the baseball

industry is an everlasting gold mine. But some dubious baseball fans might ask, what about the teams that are not popular and cannot earn enough revenues from broadcasting? In fact, Major League Baseball already prompted a solution to that possible problem in 2005 when MLBAM, a MLB branch that started accommodating spectators’ demands online, actively expanded their influence in the league. MLBAM runs online websites that update MLB teams’ statistics, videos, and schedules, and is owned by 30 MLB teams equally.

Every team website is run by MLBAM and the profits gained from the sites are equally distributed as each team owns equal share. So the teams that cannot take advantage of the high broadcasting fees rely more on the profits earned through the sites. While Major League Baseball runs in a highly open and competitive market, the league tries to balance the capacity of each teams’ team management. Continued on Page 9

China Slacking Economic Growth Writer: Hyo Jung Kweon China has been seen as a new economic tycoon, with an amazing 11.9% of economic growth in the first quarter of 2010. Since then, China’s economic growth percentage has hovered above 7%, marking 7.5% in the second quarter this year. The slowing growth means a lot. The decrease of sales to its

main consumers, like the U.S. and Europe, and the lack of domestic demand of its product, is regarded as the main reason for the slacking outcome. Also, since China’s main source of income is manufacturing, the increase of payroll costs and energy costs may be a critical blow. China is trying to recover

the plummeted economic growth graph, with attempts of new management and banking systems. As the world watching China’s efforts, whether China will be able to get over their moment is something to sit and wait.

Volume 2 . News 8.

Business of Baseball: Baseball Industry’s High Profitability and Equality - Cont’d Interestingly, how well the teams are doing in the league does not always correlate with the profitability of the teams during the pennant race. In other words, team’s profitability can be affected by factors other than the team’s success in the league. Teams’ ticket sales take up large part of the teams’ revenue, and teams’ ticket sales clearly show the irregularities that teams face. For example, LA Dodgers, although they have recovered from hitting the rock bottom this May, attracted the most spectators at home regardless of their frustrating losses in May. Instead Oakland Athletics shows a different pattern. While the Athletics have showed a strong presence throughout the early part of the season, their number of attendance at their home

games or ticket sales remain at the bottom of the attendance report. Well, this fact highlights the importance of business incorporated in baseball. Although every MLB teams invest in public relations, Seattle Mariners is one of the teams that approached public relations in ways no other teams had tried. They are regarded as the pioneer of comedic baseball commercials that made fun of their own players in 1994. In recent years, with the rise of social networking sites, Mariners have pioneered in a marketing approach of involving videos of their team players. This method of marketing emphasizes the interactivity between the players and the fans, and in the end, the method attracted more interest and

brought in greater revenues from the fans. Overall, methods of marketing, or so say methods of publicizing the teams, are not limited to social networking sites. Traditionally, MLB teams annually involve their players in volunteer works during and after the season, and some of the times, the teams involve their fans unknowingly, whether through recounting one’s experience at a ballpark or through capturing your enthusiasm at a ballpark by ballpark cameraman. Like many other sports, baseball industry is a business intensive sport, but with business, competitive sport industry like baseball industry can also be quite equal. With more revenues teams gain in, more business ideas teams will require in order to succeed.

Google: The Technology Giant Writer: Larry Jeon Google search engine, Google Cloud Storage, and Google Chrome browser are the technologies that lead the internet trend in the 21st century. Now, Google is preparing for a smart-phone real time translator that will predictably lower the language barrier. This function is currently on testing process, and the Google claims the accuracy of this translator to be presumably high. With such development of technology, it is not hard to envision a world where people travel around the globe without having problems concerning communication between people. This Google’s invention translates calls from one language to another in real time meaning English spoken from one end of the call will be instantly translated into Portuguese who is listening on the other side of the call. This function is best maximized when used in places where no noise is around. It is unknown whether such function can currently be used in calls made under private mobile radio communication network, but it is expected to be available under Google’s private internet mobile network due to technological and legal factors.

English and Portuguese are the languages that have been specifically cited as providing the most perfect translations on the Google’s current translating system. An actual date of service and locations are still unmentioned. Google is formerly providing the translation function only on internet websites, and Android smart phones and PC tablets markets are likely to trigger more heated competition in IT trends. Moreover, it must be noted that the ability to understand and translate limitless conversations across the whole world will amount to a countless piles of data for companies to utilize for advertisement purposes and some other profitable business possibilities.

On the other side, Google – project glass has become on the hottest issues that prevail in global technology market. Google Glass is a wearable computer equipped with Head Mounted Display that could function without using hands. The device is also capable of understanding and operating order that have been given orally and can also interact with internet through Wi-Fi. Most of already existing applications also are available on the glass including Google Maps, Google +, Gmail, and applications from other companies including NewYork Times, Evernote, etc.

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Clear Breaches of Tuna by Weak Yen Writer: Sooji kim There is an exciting news for seafood gourmets in Korea. The price of one of the most delicious and expensive sashimi ingredients, tuna, is rapidly plunging. Generally, a tuna costs more than seven-million won to even two-billion won, so general consumers are not very apt to purchase it. However, the continued depreciation of the yen changed the whole seafood market trend. During the last three months, yen value fell from 1400 won to 1100 won, which is about 15%. This is because of the quantitative easing policy of Japan. After Liberal Democratic Party seized power, they carried out ‘Abenomics’ in order to escape from strong yen and deflation that had lasted for almost 20 years. The reason they pursue this policy is that Japan has struggled a long economic stagnation. Prime Minister of Japan, Abe Shinzo, even stated “We will run a rotary press at full throttle to print money.”

Quantitative easing is a monetary policy used by the central bank to stimulate national economy by supplying currency to the market. This policy brings beneficial effect in Japanese economy. Since the price of exported product is set lower in the importing country, the export companies in Japan can be developed. Also, due to increased money circulation, expanded consumption activities lead to an invigoration of domestic market in Japan. Nevertheless, quantitative easing not only brings benefits but also has drawbacks. For Korea, these policies do more harm than good. Export volume of Korean companies declined sharply, so most of the Korean companies find themselves in deficit. This phenomenon is how it has been so far for the tuna industry. According to the Korea Overseas Fisheries Association, enterprise such as Dongwon F&B and Sajo Seafood underwent declining sales

for about 25 percent and their amount of tuna stock increased by 700 ton from last year. To emerge from recession, fishery companies marked down the tuna price by about 15 percent. It caused a sudden increase of tuna demand by 42 percent, moving two notches up to the second place in the sashimi ingredients market. Because of the low yen, the whole seafood market trend is changing. So, do not hesitate, young gastronomes! Now is the best chance to taste delectable fatty meat of blue fin tuna!

This Month’s Writers, Photographers and Editors: Thank you for your contribution. Youngju Kwon, Joongwu Kim, Bongha Lee, Sooji Kim, Seung Lee Lee, Sang-tae Ahn, Jane Park, Julie Na Eon Kim, Sung Bin Kang, Su Yeong Jang, Minjee Kim, Janie Ha, Yoon Jung Shin, Hyeon Ju Cho (Diana), Jungyun Choi, Yong Jin Lee, Do Hyun Choi, Hyo Jung Kweon, Larry Jeon, Yeon Jae (Annie) Song, Minsung Kim

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