basket system ( 1980. 2 ~ 1990. 2 )
Average exchange rate system ( 1990. 3 ~ 1997. 12. 15 )
The freely flotation exchange rate system ( 1997. 12 16 ~ today )
Declare intervening in the local foreign exchange market
lower exchange rate by using foreign exchange reserves
E.R. repeated sudden rise and fall
exchange rate did not be stabilized
foreign exchange reserves decreased
not exist,
then either:
• The currency must appreciate or depreciate, or
• The central bank must intervene to stabilize the currency
• Downvaluation
-> Exchange rate increase
• IS curve will shift right.
• Buys excess foreign currency.
and Sells domestic currency.
• LM curve will shift right.
• As a result, Y increases.
1, Fan culture of idol singers
1) Overall fan culture of idol singer in Korea
Korean idol culture is shorter than Japanese idol culture. In Japan, idol singer existed in 1960s, so idol fandom and fan culture of idol are set in Japan. But in Korea, H.O.T. who is made by SM Entertainment in 1990s is representative idol singer. They had got a lot of popularity from teenagers and contributed g
I. Introduction of currency wars
War using the exchange rate policy has been sustainable like Europe’s exchange rate policy in the early 20th century and Japan’s exchange rate policy after World War II. Recently, Economic purposes such as restoring slowdown of economy due to financial crisis and recovery of trade deficit are combined with political purpose and retaliatory currency manipul
5. History of US-Korea FTA
Although the treaty was signed on June 30, 2007, ratification of the agreement stalled when President George W. Bush's fast-track trade authority expired and a Democrat-controlled U.S. Congress expressed objections to the treaty related to concerns over bilateral trade in automobiles and U.S. beef exports. Nearly three years later, on June 26, 2010, President Barack Ob