2013. October
E2
UM VOL
This Month’s Hot News:
Where is the Destination?
Influences of Radiation On Marine Commercial Activity
Gluttonous Wave
Faster than LTE: LTE-A
Obama's ‘Grand Bargain’
China’s Automobile Markets on Rise
President Park's Chuseok Gifts
No Country for Organic Food
KT Wins the Crown in the LTE Battle
Samsung's New Gadget: Gear and Note3
Tokyo to Host 2020 Olympics
New Phone = Evolution?
Significance of Chuseok? Great Expenses?
President Park Withdraws Welfare Policy
The U.S. Efforts to Salvage Its Economy: Quantitative Easing
CNT Computer Overcomes Limits of Silicon Circuit
Contents: Destination 1 Radiation 2 Gluttonous Wave 3 Faster than LTE 3 Obama’s Grand Bargain 4 Chinese Automobiles 4 President’s Chuseok Gifts 5 Organic Food 5,7 KT Wins LTE Battle 6,9 Galaxy Gear and Note3 6 Toky to Host 2020 Olympics 7 New Phone = Evolution? 8 Significance of Chuseok 8 President Park withdraws Welfare Policy 9 Quantiative Easing 10 CNT Computers 9
The Entirely Student-Run Business Newspaper:
The TeenBiz Editor: Stephanie Y.
Volume 2. News 10.
Where is the Destination? Writer: Sang Tae Ahn Editor: Jungyun Choi Is growth good for biodiversity? – this topic has been leading online readers and subscribers of the Economists, one of the most famous economy-related journals, to get on the stage of fierce debate. Followed by statements of two prominent speakers and remarks of one objective and dispassionate moderator, this discussion is still being held now, last week of September and fascinating thoughtful readers. Those debaters and commenters are seeking for where the final destination is to which our economic growths are leading our society: destruction or development. It is a widely received notion that economic growth and manufacturing have been the primary culprits of nature destruction and biodiversity diminution; this argument is also the most predominant opinion of this discussion. However, defending side of this motion is also pretty logical and systematic. The prime speaker, Bjorn Lomborg, the skeptical environmentalist and professor of Copenhagen Business School and Director, contends that the strong correlation between the degree of prosperity and growth and the extent to the biodiversity preservation, and that although economic growth can engender somewhat destructive and calamitous effect on biodiversity, its benefit outweighs its disadvantage, citing a verisimilar concept of human society, the Kuznets Curve. The curve describes the relationship between prosperity and inequality, represented in an inverted U-shaped graph. At the early stages of growth, inequality tends to rise; at the later stages it falls. Likewise, he suggests that linkage between economic growth and biodiversity can be paralleled to such a notion; while experiencing lurid downward moving, later, their graph will draw a steeply rising curve. Accompanied by this notion, his argument is also attractively convincing readers of approval to this topic with reliable data. Statistical results – Living Planet Index (LPI), researches from trustworthy organizations and groups, and noticeably simple-represented graph – perfectly corroborate his thesis, proving that
prosperity and development have also achieved many ecologically beneficial progresses with pro-environment movements. In contrast to his fervid explanation and impassioned speech, argument of foremost opponent of this topic, Jonathan Baillie, is quite simple, as many might expect; it elucidates the commonly accepted notion that the economic growth is the most evident suspect who has left ecological footprints – its consumption of food, water, materials and energy- and driven the decrease in biodiversity. The accusation and disapproval of this agenda has been occupying over 70% of whole percentage of votes, but it is not absolute resolution of this debate. As a reader and a participant of this discussion, I am appreciating both sides of this debate. No one will say neither that the notion that economic growth is detrimental to environment has been as widely acknowledged as false, nor that prosperity has not led any eco-friendly movement. It is an evident fact that economic growth has been at once exerting harmful effect on biodiversity and directing the improvement of environment. I believe that there is no absolute solution to this question; although economic growth is, if so, leading us to destruction, we cannot stop growth and development with our hands. On the other hand, if development is ushering us to advancement and cheerful future, we also cannot elude impending ecological crisis and overlook a large sum of moribund species now. It is a difficult assignment of human beings that people should find its solution and our economy’s destination within somewhere between two extreme spectrums of future of economic growth: destruction and development. The appropriate regulations on economic growth and feedbacks on environment in accordance with circumstances are the only pathway to lead us to bright future.
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The TeenBiz
Influences of Radiation On Marine Commercial Activity Writer: Danhee Kim / Editor: Annie Song The Fukushima nuclear power plant had erupted on March 11, 2011. Despite the fact that this happened almost two and a half years ago, Japanese government recently admitted that this radiation problem has not yet been solved.
What's more, radiation can influence people’s reproductive cells to leave their genetic injury to the next generation. To prevent these harmful effects of radiation, people are advised to refrain themselves from eating fish.
Radiation Detection from Imported Japanese Seafood 51 39
13 7
Refrigerated Refrigerated Refrigerated Pollack Mackerel Cod
Red seabream
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Refirgerated Parrotfish Yellowtail
Radiation found in fish / © The TeenBiz. Information provided by Korea Food and Drug Administration Since 2011, the radiation from Fukushima has been emitting continuously. Even though the Korean officials knew that the radiation problem was still continuing, they are importing fish from Japan. The officials said that the Japanese marine products are safe to eat, because they have checked the amount of radiation in these products. In the above chart, Korea Food and Drug Administration said that fish from Japan can be eaten, because the fish with the radiation is below the valued standard. The government is also easing people’s mind by telling them that the fish is safe to be consumed.
Consumers in the fish market / Photo provided by Danhee Kim
The fear against the radiation brought a direct impact on marine markets. The rate of fish purchases declined sharply. No matter how much the merchants claim that the products are not from Japan, people continue to suspect the fish’s place of origin. Moreover, the tendency in buying fish changed as well. People have started to buy the West Coast fish rather than the fish from East and South Coast. Nevertheless, Koreans are avoiding buying most of the aquatic products due to radiation. This is because radiation is very harmful to the body. Radiation can ionize the water in the body and produce peroxide, which has a strong oxidizing effect. Simply put, when people get bombed by radiation, the cells in their bodies will get damaged, making them hard to recover.
The radiation symbol / Photo provided by Danhee Kim
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Gluttonous Wave: Chinese Automobiles Writer: Larry Jeon / Editor: Minsung Kim China has never given up its place in all kinds of industries, still upholding its place as one of the countries to display prominent growth rate. Moreover, the recent Chinese automobile industry has been showing considerable potential that all countries are paying attention to. Thanks to China’s highly dense rate of labor, the rapid inclination of Chinese automotive parts industry is stepping further with support from China’s immense investment and compatibly cheap prices that attract customers all over the world. Few days ago, Changan Automobile Company( 长 安 汽 车 ), representing the entire Chinese automobile industry, participated in the Frankfurt Motor Show held in Germany. Since its establishment in 1987, Frankfurt Motor Show has been popular for its 116 years of history and its role as the ‘Automobile Olympic’ guarantees the quality of displayed cars in the show. Changan Auto ranks as China’s fourth biggest local brand and is also known to have connections with Matsuda, Ford, and Suzuki as their partner firms. “Until the coming 2020, Changan Auto is planning to invest more than 0.8 billion dollars in ten main global Auto markets, selling more than four hundred thousand cars yearly”, said ‘Zhuhualong’ the vice
president of Changan Auto. Following the supportive government policy towards the Auto industry, China’s Automotive Parts firms are expanding their investment to other fields of auto industries. They are mainly focusing on improving their current After-Service marketing. However, when the overall level of quality of cars increases, some of those companies will be entering foreign OEM Market (Original Equipment Manufacturer), alerting other Automotive Parts companies, especially those in Korea.
development towards global firms could not have been made if there were no aids for automotive parts from other major Auto companies. In other words, should Korea not only focus on building technological competence but also enlarge the size of its market. Kia and Hyundai Auto should not be so complacent about their current achievements. Such casual way of thinking may result in falling big time in global market.
Korea surely possesses the high technology required to produce cars of enough quality. But, including high prices and expensive cost of labor, the size of Korean Auto Market is too small compared to China’s market. Moreover, the cheap automotive parts may become an incentive to Korean automobile companies, which could mean yielding their places in Global Auto market to China. Competing with Chinese Auto firms can never be seen as an easy task despite the reputation of Hyundai and Kia Auto as global automobile companies. Their sudden surge of
© Free Digital Photos.net
Faster than LTE: LTE-A Writer: Judy Kim / Editor: Seunglee Lee Samsung has developed a new product named Galaxy S4 LTE-A. Thus, it has become the first company in the world to use the LTE-A technology. Now that Galaxy S4 LTE-A has been introduced, mobile communications cannot be discussed without mentioning LTE-A, or the Long Term EvolutionAdvanced. LTE-A has a close relationship with LTE. LTE is a technology that has evolved to provide a much faster Internet access. The main difference between LTE-A and LTE is that LTE -A uses the CA (Carrier Aggregation) technology, which combines frequencies far away from each other. By combining frequencies, one can increase speed to about twice as much as that of LTE. To be exact, LTE-A's speed is maximum 150Mbps. With 150 Mbps, downloading a 1GB file will take about 54 seconds. To compare this with former technology, 3G will take 9 minutes and 15 seconds and LTE 1 minute and 47 seconds. LTE-A is even faster than wired internet, which takes about 1
minute and 20 seconds. With LTE-A, the use of radio communications would become much more convenient. It is shocking to hear that companies are trying to develop 5G, a technology even more advanced than LTE-A. 5G would be able to download a 1G file in a second.
LTE-A supersedes LTE in many respects. / © SKT World
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Obama's ‘Grand Bargain’- Reduction of Corporate Tax and Extension of Investment Writer: Diana (Hyeon Ju) Cho Editor: Annie Song It has been half a year since Barack Obama, the President of the United States, started his second term, but he did not accomplish anything to speak of. Most of his policies submitted at the beginning of the year were fettered by the Republican Party. According to the survey taken in July by Wall Street Journal and NBC, the President Obama's approval rate about his government processing was only 45%. This was the lowest rate after the one in the late 2011.
remarked the President. He also exclaimed that "CEO's average earnings increased by 40% after 2009, while the general public's earnings were decreasing than they were in 1999."
This is why President Obama brought up the economic issue. On Wednesday, July 24, 2013, at Knox College in Galesburg, Illinois, he mentioned the importance of expanding the middle class, creating new jobs, reducing income gap, reforming taxes, interrupting budget cut, and reforming immigration. He especially emphasized on expanding the middle class, the biggest problem the government has.
To solve these problem, he suggested a 'grand bargain' to the Republican Party. It is about the reduction of corporate tax and pushing forward the extension of investment for more recruitment in small corporations. In respect to this, the White House officials explained that this 'grand bargain' is in line with what Obama mentioned in his presidential election pledge, in which he promised to reduce corporate tax by 28% and 25% for manufacturing industry field, which is currently 35%. Thus, it requires the Republican Party to extent investment for a job creation program, which the Obama government is pushing ahead.
"For the last 10 years, most of the income focused on top 1% even though corporations are having a huge gain and creating jobs steadily,"
President Obama pointed out the fact that the 'American Jobs Act' package, which he suggested in 2011, was supported by the
Republican Party, but most of them could not cross the threshold. He also said that the Republican Party was driving America to sequester, which could shrink the investment for job creation. Considering this fact, the suggestion by Obama amounts to a prescription that can prevent the recurrence of sequester. Major companies and lawmakers from both the ruling and opposition parties are welcoming Obama's new suggestion, as it might bring better condition for big companies and create more jobs for job seekers. However, it is not certain to whether this compromise will be accepted, as there are different views on this statement in the Republican Party. Ron Johnson, the senate, intimated the possibility of this 'big deal'. On the other hand, John Boehner from the lower house exclaimed that Obama's 'grand bargain' was not a concession. And still, it seems uncertain as to how things will turn out.
China’s Automobile Markets on Rise Writer: In Hyuk Kim / Editor: Minsung Kim China, one of the most powerful countries in the world, has been developing gradually. Even though it still experiences the enormous gap between the rich and the poor, China’s economy is growing steadily. According to the statistics of the World Bank, China’s GDP per capita went up by about 436% between 2002 and 2012. Therefore, there are many major foreign companies that tend to target Chinese consumers in order to gain more economic profits. Currently, the automobile market is burgeoning in China. The Shanghai Auto Show of 2013 clearly showed possibilities for the
success of Chinese carmakers. Lots of attendees were walking around to choose cars which they would buy. Companies tried to attract many customers as much as possible. Moreover, auto analysts claimed that 3 out of 4 Chinese car consumers always pay in paper money, not in credit cards. That is why most carmakers cannot leave China, but choose to expand their business field. Major car companies such as General Motors, Ford, and PSA Peugeot Citroen successfully targeted Chinese customers. For instance, GM’s August sales had increased about 17.7% more than that of in 2012. China became a vital market that global carmakers try to target. Some
companies even made models particularly for Chinese consumers. Italy’s Fiat created a Viaggio Sedan only for China. Although China’s automobile market is the biggest in the world, the market is very competitive for carmakers to handle. Bob Socia, the President of GM China, emphasized that China’s auto market is highly competitive. However, more companies continue to pursue their dreams by entering China. Carmakers have no choice but to endure harsh risks that might cause terrible consequences. But they strongly believe that China is a “Dream” nation, which provides numerous opportunities for them to succeed.
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President Park's Chuseok Gifts Writer: Eunyoung Lee Editor: Seunglee Lee President Park sent gifts to more than 9000 citizens during Chuseok, a Thanksgiving holiday based on the Lunar calendar. People who received the gifts were key members of communities from various fields, ranging from nationally recognized individuals to the underprivileged.
briefing, the President wished to celebrate the national holiday with a warm heart. This year, she chose pine nuts, rice and jerked meat as gifts. Walnuts replaced jerked meat for Buddhists and language learning guides were sent as presents to underprivileged children.
According to Cheong Wa Dae's
The president considers the
gifts as a way of stimulating rural economy. In fact, former president Lee also chose several agricultural products as Chuseok presents to support the rural areas and create regional harmony. President Park also visited the traditional Korean market the day before Chuseok.
No Country for “Organic” Food Writer: Bongha Lee Editor: Stephanie Y. It has been extensively controversial as to whether the products people are consuming in their daily lives are “fabricated.” This could heavily breakdown those who are negligent of the effect of the food intake. The proposal on the freedom of choice for consumers regarding the identification of genetically modified organisms (GMO) was largely ignored for economic boost. According to the Breakdown of GMO Labeling Laws in Each Country by Mike Barrett of Prisonplanet, there is no mandatory labeling of GMO mark in Mexico, Canada, Bhutan, and United States - the country with the third largest population of 313.9 million people in total. Exacerbating the current “oblivion”, ironically, the strict and precise reinforcement of the labeling regulation by government has not achieved “the extent and breath of the regulation [that] are decided politically.” This allowed the “undetectable” final products during the identification of GMO. It is also questionable as to the essence or the reality of the nutrition value relating to the processing of the food and the effects of the treatment to the consumers’ health. Food Inc., a documentary film directed by Robert Kenner, lucidly illustrated the unsustainable agri-businesses with economic purposes. These business exercise
Genetically Modified Foods Bring Controversy / © Free Digital Photos.net heavy usages of petroleum based products. The film featured the domination mechanized agri-businesses over major food companies, and how large input of pesticide and fertilizers can possibly be fatal to the consumers. The response from the massive food companies followed by the publication of the documentary brought a dismissive public inclination against the major pesticide companies such as Monsanto Company, Tyson Foods, Smithfield Foods, and Perdue Farms. “Lait, Mensonges et Propagande Milk”, written by Thierry Souccar, associated
the multi-hormone boiling [cow] with the effect of the health in scientific approach. The book quoted the abundance of IGF-1 research run by Professor Jeff Holly in Bristol University. The research conclusively proved the deadly health effect of milk produced through industrialized or genetically modified mechanisms.
Continued on Page 7
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KT Wins the Crown in the LTE Battle Writer: Sooji Kim / Editor: Annie Song One of the most inevitable and influential products in the 21st century for teenagers would definitely be a “smart phone”. Recently, a very fierce battle over ‘LTE frequency band’ came to an end. Through this frequency band auction, every telecommunication carrier companies could secure frequency band to operate “Broadband LTE” service. “Broadband LTE” and “TE-A” are both are based on LTE and theoretically twice faster than LTE (Max 150Mbps). However, those systems are completely different. Broadband LTE combines two different adjacent frequency bandwidths to use it as one single bandwidth. In other words, it is similar to the road-widening project in which the road is doubled in size to double the speed of the traffic.
much more beneficial than using LTE-A, because consumers can use their phones with doubled speed. Also, consumers have to purchase a new smart phone if they want to use LTE-A. Who won the latest “LTE frequency auction”? After a very fierce and resilient battle, KT Corporation finally became the one who smiled at the results. It won 1.8GHz bandwidth which is adjacent block of existing bandwidth for 900 billion won. Even though the company has spent excessive costs on this, it can now operate Broadband LTE service since the bandwidth (15MHz and 20MHz) is adjacent.
LG U Plus Corporation, on the other hand, was not be happy because the worst-scenario became a reality. It won 2.6GHz spectrum for 479 billion won, which was not yet commercialized in LTE-A interconnects the two Korea. It is inevitable to invest in separated frequency bandwidths by additional base station and continue to using “Carrier Aggregation technology”. launch LTE service. It is like constructing one more road in a highway. Respectively, SK Corporation gained another 1.8GHz spectrum From the perspective of (35MHz) for 1.05 trillion won which is consumers, using broadband LTE is
wide enough to do broadband LTE service but different frequency from the existing one. The problem here is that since frequency bandwidth is different, it takes time to start the broadband LTE service. Also, only 30% of its consumers can get the Broadband LTE service, because only a part of the smart phone can perceive spectrum bandwidth of 1.8GHz. Instead, SK Corporation could pursue practical interests by securing broad bandwidth in relatively low costs. The winning bid itself costs 1.05 trillion won, but actually it only needs to defray 450 billion won by returning the original bandwidth. Metaphorically speaking, to solve the traffic-jam problem (which is the LTE speed problem), KT Corporation has to combine the next road to launch the Broadband LTE service. Continued on Page 9
Samsung's New Gadget: Gear and Note3 Writer; Janie Ha / Editor: Stephanie Y.
Samsung stated that the gear "lacks something special". There are rumors that the new updated version of the gear is coming out in January. Nonetheless, some say that they do not know what the gear is intended to do and question the need of them. One believes that the Note 3 is a great invention as usual, but the gear needs some tune up to go through.
Samsung has lunched the new Galaxy Note 3 and Gear on September 25 in Seoul, South Korea. Chang Joon Kim, the marketing associate of Korea has stated that "Saumsung tries its best to bring the most modern mobiles to give pleasure to users all around the world". The Galaxy note 3 has evolved from the previous Galaxy Note series. The Note 3 now has 5.7 inch HD super Amoled screen with a 3GB ram, making the device a lot faster. The thickness has reduced to 8.3 mm and the weight has decreased to 168 grams. Samsung stated that the most developed part was the S-pen. It is now able to do air command, which is using the phone without actually touching the screen. One can predict that the Note 3 will be the new sensation just like the previous note series.
Samsung’s Galaxy Gear / © Swide.com Samsung Galaxy gear is a new smart watch with amazing features. This smartwatch has a 1.63 inch Amoled touch screen and has 4GB of space. It can alert the user with incoming messages, phone calls and processing apps. However, this gear only pairs up with the Note 3 and Note 10.1. So other phones will not be able to use the gear.
Samsung Galaxy Note 3 / © Bostinno. Streetwise Co. Source: http:// bostinno.streetwis e.co/2013/07/25/ galaxy-note-3release-datespecs-samsung-to -make-3gb-ramchips/
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No Country for “Organic” Food - Cont’d Another alert for the food markets and the consumers is that the definition of “organic”without application of pesticide or genetic modification- has a potential “impurity” or indecisive classification during its process of abiding by the legal assortment. Such movement for mandatory labeling of GMO for the sake of consumers’ freedom of choice Proposition 37% GMO Labeling - was denied. Still, 47 percent of consumers believe that the health effect of the pesticide applied products will bring a somewhat long-term effect. There is no
consideration for a deep speculation on what shapes consumers’ body, according to 2010 Nielson’s study. One of the reasons must be that the organic food is in average 20 to 40% higher in price than that of inorganic food which has more abundant amount and lower price. However, some argues that the organic industries are growing in rapid rate producing thousands of jobs. According to OTA’S 2011 Organic Industry Survey, 21% of jobs were created for every $ 1 billion in retail and overall
organic market surpassed $31 billion for the first time. People’s consideration of healthier and better food is now heading toward to the possitive market slogan -“what you eat is what you are”.
Tokyo to Host 2020 Olympics Writer: Sung Mo Koo Editor: Stephanie Y. On September 7th, Tokyo was chosen to host the 2020 Summer Olympis, gaining the most votes from the International Olympic Committee (IOC). This is the second time for Tokyo after 1964 Summer Games. The voting happened in Buenos Aires in Argentina, Istanbul of Turkey and Madrid of Spain competing against Tokyo. When Tokyo had gained the most votes but not the majority of them, another voting happened between Istanbul and Madrid, resulting in the victory of Istanbul. However, Tokyo overwhelmed Istanbul in the final vote with the score of 60 to 36, being announced as the winner of the bid.
Many Japanese took the hostage of the Olympics as a positive incident and a way to escape from a long-term economic decline. Indeed, the economic impact that the Olympics will bring to Tokyo is huge. For 7 years until the Olympic happens in Japan, Japan plans to invest more than 3 billion won building appropriate infrastructure and a national stadium that can accommodate 80,000 seats. This also entails 150,000 new employments and an increased number of tourists to Japan. Correspondently, these phenomena will foster Abenomics to broaden its policies and gain more supports.
One thing that worries people internationally is the speech made by the Tokyo Electric Power Company, Inc. just a few days after Tokyo was selected with honor. It announced that 8,000 tons of radiation has been emitted and is currently spreading all over, without any effective method to stop it. Whether this is true or not is not clarified yet. However, if it is, Abe will have to deeply apologize for the speech he made to deceit votes and gain votes. Whether the 2020 Tokyo Olympic will be successful still remains unclear.
There were several reasons on why Tokyo had been chosen over the other two. The largest concern with Istanbul and Madrid was that those cities were undergoing a serious financial crisis and thus were dubious of whether the Olympic could be hosted safely or not. Moreover, Syrian war happening on the border of Turkey made IOC more reluctant in picking Istanbul. While the safety problem from the nuclear disaster on 2011 emerged, the Prime Minister Shinzo Abe assured that the radiation is controlled perfectly within 0.3km2 of where the accident occurred and thus will not cause any further problem in hosting the Olympics.
Tokyo to Host 2020 Olympics / © Free Digital Photos.net
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New Phone = Evolution? Writer: Jane Park / Editor: Stephanie Y. Samsung released a new Smartphone named 'Galaxy Golden'. This product has special characteristics, because it is Korea’s very first folder type Smartphone. However, there are 2 differing opinions on its release. On one side it compliments the product, saying that "It is a great idea for users who change their preferences from feature phones to Smartphones." The other says that "it is too expensive to buy and targets especially elder people who use feature phone." Following are their reasoning. -It would be a success and may be an evolution. A group of people says that the phone will succeed. Some of them even say it is the evolution of Smartphones, because it is a folder type Smartphone that includes full functions. The product is for consumers who has used to have feature phones before Smartphones came out. These mostly include older generations (those who are older than 40 years). As some functions resemble feature phones' function, consumers can easily adapt to the change. The demand
for the product is increasing and younger people are trying to get information to give their phones as presents to the elders. Because of this, the phone’s another name is “Hyodo Phone” (in English, Good Son[Daughter] Phone). ●
Toward the elders, more people would buy them. Samsung’s venture will be successful then.
It is Samsung's Failure
However, the other side says that although the product itself is a great idea, it is mostly a failure. The most important reason is price. The company has intentionally made the product for elder people, but it does not give sufficient discounts. When the phone was first released, it cost about 1,000,000 won (about 1,000 dollars). Even though the cost is going down recently, it still exceeds than 600,000. Because people do not try to buy this product because of its cost, it is predicted that Samsung would have a Samsung releases Galaxy Golden / surplus of this model. © pdadb.net The product itself is a groundbreaking idea. It has good points, bad points and side effects. 'The others say that if the price becomes
Significance of Chuseok? Great Expenses? Writer: Hyunsue Jung Editor: Annie Song Chuseok is an autumn festival celebrated on the 15th day of August, which is the Lunar month. It is a special day for Koreans. Chuseok is similar to the Thanksgiving Day in Korea. We show our gratitude to our ancestors with deep bow. We prepare foods like “Songpyeon” for memorial ceremonies when we are gathered with families. We also prepare newly harvested fruits to express our gratitude. However, many people complain about consuming too much money during Chuseok. People spend nearly 320 000 won during Chuseok on average according to the Korea Price Research Center. They said that newly harvested fruits and other materials cost high especially during this year. The reason is that Chuseok was earlier than before and the harvest depression has
gotten worse. Harvest depression made people spend more money to buy big and high-quality fruits.
fall festival is much more important and it has to be continued on.
Based on the complaints made by people, it has been suggested to change Chuseok to the 2nd week of October. People felt that it would not be hard to prepare newly harvested fruits and other food ingredients for people. However, many other were against the idea as well. They asserted that there would not be any purpose of celebrating Chuseok if we change the date of it. Which is more important: domestic economy or following the tradition of celebrating Chuseok? I believe that it is better not to change the date of Chuseok. Instead, we can buy small fruits and not prepare gift sets. Also, children should not ask for extra allowances. The true meaning of our own
Songpyeon, Korea’s traditional Chuseok Food / © Photo provided by: Hyunsue Jung
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KT Wins the Crown in the LTE Battle - Cont’d However, SKT Corporation needs to move to another existing road and LG U plus should construct a new road. Since KT Corporation does not require any additional construction or investment, it launched the world-first ‘Broadband LTE-A’ service by using 1.8GHz golden frequency on September 14th.
exceptionally good, and likewise that the telecommunication environment in Korea has a fairly promising future.
Consequentially, competition over mobile phone carrier companies’ services started to accelerate. SKT Corporation presented a video centered tariff system and a middle-low price tariff system. KT Corporation is By next July, the nation’s three spreading its marketing strategy, which mobile phone carrier companies can doubles the data volume than its rival start nation-wide broadband LTE service. companies, whereas LG Corporation It is a well-known fact that Korean has introduced a data specialized tariff mobile phone environment is system. As broadband LTE
environment establishes, mobile phone carrier companies are expected to expand more diverse and intense marketing strategies.
President Park Withdraws Welfare Policy Writer: Youree Kim Editor: Stephanie Y. In 2013, President Park has drawn the public’s attention with an enormous welfare policy. Recently, however, the President has been drawing attention of the people again by withdrawing the policies. Before Park was elected as the President, major points of her welfare policy was as follows: 1.
Provide 200,000 won to every elder citizens over 65.
2.
Cut college tuition in half.
3.
Free education for high school students.
4.
Practice daycare of children of age 8 to 9 for free.
5.
The medical bills of the four major diseases will be paid by government.
In September, the President officially announced that some of her policies will be delayed or amended. The new amendment for the welfare policy includes: 1.
2.
Aid for every elder will be given to the 70% of elders who are in the low income group. Also, the amount of money will be downsized. Half-payment for college tuition, free education for high school students and daycare for children under 9 will be delayed.
President Park detracts her Welfare Policy / © Free Digital Photos.net 3.
The government’s entire assumption of the medical bills of four diseases will be reduced to the minimum and only bills for compulsory treatments will be covered for the patients.
Due to the sudden change in the welfare policies, the public has been showing feelings of disappointment toward President Park. To show her regrets for the change in welfare policies, the President has made an official apology on 26 and
27 of September (first in the Cabinet meeting and second in the Blue House). Although the President has been making a series of apologies and has been announcing that she will try her best to make the policy possible, she has already let the public down. In addition, the resignation of Minister of the Ministry of Health and Welfare (Minister Jin) is cornering President into a corner.
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The U.S. Efforts to Salvage Its Economy: Quantitative Easing Writer: HyoJung Kweon Editor: Stephanie Y.
which drives up the actual supply of money available for loans.
In order to save the US from an economic meltdown, the Federal Reserve initiated programs; one of them being 'quantitative easing'. As the US economy is starting to show signs of slight improvement, these programs may have to be reduced. However, since the nation's economy is not only that of one nation, but closely related to the global economy, there are various points of view regarding the tampering of the quantitative easing effort.
How does it affect the economy?
What is quantitative easing? Quantitative Easing, also known as 'QE', is a term for a policy which provides for more money usage to help the economy's circulation. To do so, the Federal Reserve buys bonds and assets,
By quantitative easing, the long-term interest rates drop, which increases the mortgage rate. This may stimulate consumer expenditures. Another influence of the easing is the decrease of dollar value. By this, the Fed aims to strengthen the country's competitiveness in imports. If the program goes well, the unemployment rate will decrease, and the economic growth rate will rise. However, it has the risk of a serious exchange-rate-war. Other side effects may be rapid increases in raw materials and crude oil prices, which will definitely lead to inflation. How will it affect Korea?
The inflow of foreign capital will result in mortgage rate rises. Also, since the dollar value has dropped, the value of the Korean Won has become stronger. Although nothing is sure, the strengthening of the Won value may not be beneficial to the reinforcement of import competitiveness.
Would quantitative easing solve the economic crisis? / Š Free Digital Photos.net
CNT Computer Overcomes Limits of Silicon Circuit Writer: Diana (Hyeon Ju) Cho Editor: Stephanie Y. Today, silicon, which are the standard materials of electronic circuits, are finally reaching the fundamental limits of chip miniaturization. This means that the chips, which are made of silicon, are too small so they cannot be miniaturized any more. Recently, a researcher from Stanford University has suggested a solution to this problem. CNT, which is called a dream new material, can be taken as the first step to replace existing semiconductors. Therefore, in the not too distant future, we might think of a smart phone or a lap top as a lame equipment made of silicon semiconductor.
technology which is up-and-coming in potential high-tech field. A nanometer is one billionth of a meter and the Nano technology is all about dealing with nanometer materials. CNT is a tabulate new material which is composed of connected hexagon shaped carbons. People might think it is weak because of its small size but it is 100 times harder than a metal. Its electric conductivity is as high as copper and the heat conduction is the same as that of a diamond. This is why scientists have paid attentions on this new material as it has a potential of creating a smaller and faster computer.
On 26th of September, the science journal "Nature" reported that the researcher from Stanford University has succeeded in developing a computer using 'Carbon Nano Tube' circuit. It does not have an official name but is called "Cedric" by researchers. It is just an initial model so it falls short of general computers. However it is expected to be a turning point of high-performance and high-efficiency computer development using CNT by experts.
CNT's processing speed is going to be amazingly fast. The present silicon semiconductor can accept one billion of transistor but CNT can make trillion units. The more transistor we use, the more efficiently the computer performs. In Cedric, researchers used a special algorithm and made chips with 178 transistors which is composed of 200 CNT's each. As heat conduction is high, it is expected to reduce power consumption up to 10%. The CNT transistor was first released in 1998, but it was difficult to handle so the scientists could not try developing computers.
"Cedric" is based on Nano
Even though it has a similar efficiency with that of the first silicon computer, it is a favorable start. With their amazing result, researchers say that this is not a scientific revolution but is meaningful because they proved that there is another materical that can replace silicon with its reaching limit in terms of its performance and energy efficiency.
Silicon may play a major role in future computer industries / Š Free Digital Photos.net
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