• Korean journal of communication and information
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• v.66
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• pp.28-58
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• 2014

South Korean broadcasting industry has been under a significant level of structural change since the permission of new general programming channels in the end of 2010. One of the most characteristic features of the change may be the exodus of core manpower from the in-house productions of major terrestrial broadcasters which have been maintaining their dominant power over broadcasting content market based on their systems of tight vertical integration. This paper sheds light on the presence of a purposeful 'mechanism design' that aims to the expansion of market logics in South Korean broadcasting sector by promoting commercial media conglomerates, and analyses how this external design has been actualized while being interlocked with various internal factors of the broadcasting industry. This paper shows that on the backdrop of the mechanism design, some of new media conglomerates has successfully provided various incentives in contrast with those disincentive of terrestrial broadcasters, which in turn, has facilitated the exodus of elite producers. This paper, however, raises a set of questions about whether this relocation process of creativity led by commercial media conglomerates would, in the long term, guarantee more opportunities and potentials for the producers, as promised. As part of conclusion, inherent problems of present mechanism design are highlighted.

• Journal of Digital Convergence
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• v.11 no.11
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• pp.191-196
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• 2013

The proportion of small and medium sized enterprises based on the number of corporations in China is 99%, the number of employees is 80%, and the proportion of GDP is 60%. These facts show that small and medium sized enterprises have an very significant effect on the economic growth of China. However, most of the researches conducted so far have studied large corporations, thus, there are relatively insufficient researches on the determinant of the capital structure of small and medium sized enterprises. Therefore, the purpose of this paper is to confirm the factors that determine the capital structure of small and medium sized enterprises in China. To achieve this purpose, we performed multiple regression method to 45 small and medium sized manufacturing enterprises listed on the Shenzhen Stock Exchange of China. Results of this study are as follows. First, the growth appeared to have a significant positive effect to the debt ratio in 1% significance level. Second, the profitability appeared to have a significant negative effect to debt ratio in 1% significance level. Third, the firm size appeared to have no effect on the debt ratio. Fourth, the secured value and tax shield effect by non-debt appeared to have a weak positive effect on the debt ratio, however these variables showed statistical insignificant.

• Korean Journal of Construction Engineering and Management
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• v.15 no.4
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• pp.58-67
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• 2014

The proportion of investment in national R&D projects in construction and transportation has been increasing continuously; in terms of the size of R&D projects, there are many medium- to large-sized projects of over KRW 10 billion. However, in spite of such continuous increase in R&D investments, there are many technologies developed but not commercialized, i.e., the quiescence of technology. Accordingly, it is necessary to link the R&D results to commercialization by expanding the scope of R&D projects. In this context, this study presented objective reference prices to be used in contracting/transacting technology and implementing commercialization strategy by conducting technology valuations against on-going research projects with earnings approach, and by estimating value of patented technology. Sum of free cash flow (business value) that can be generated during the life of the technology was estimated as KRW 512 million by reflecting a discount rate of 16.34% to convert it into the present value. In addition, the technology value was computed as KRW 227million by applying a technology factor of 44.39% to the above value. Based on the technology value estimated in this way, it is necessary to establish industrialization and commercialization strategy of the technology.

• Journal of Navigation and Port Research
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• v.37 no.6
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• pp.699-707
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• 2013

With the increase in the trade volume between countries, the market of freight forwarders industry has been gradually growing. However, not only in Korea, with the number of global freight forwarders increasing, global competition has been increasingly fierce, and domestic freight forwarders are facing enormous challenges, therefore, the relevant policy sectors have carried out a series of supportive policies, while academics have conducted various researches. But most of them have focused on the current situation or the business model, and they could not get feedback on government support policies from enterprises. Using the AHP analysis, this study decided the priority of the government's ongoing supporting policies, compared the cognitive differences among of the companies of 3 different sizes, which was further verified using t-test. Then we compared the government support policies with the actual expectations of the companies to see if they matched on the basis of the previous results of this study, in order to help to strengthen the competitiveness of our freight forwarding industry.

• The Korean Journal of Franchise Management
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• v.5 no.1
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• pp.143-160
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• 2014

This study focuses that the business starters can refer to this study, select better franchise headquarter and make the franchise member agreement. The most concerned part for the people who want to open franchise shop is what brand is reliable and safe to them. I have analyzed disclosure report that contains overall information of franchise headquarters and researched 300 franchise shops as sample. I drew the conclusion of the decision factors of franchise member agreement, overlooked demographical status by frequency analysis with SPSS 18.0 and performed disperse analysis to examine the decision factors of franchise member agreement and the difference between sex, service type, shop size and income level. In conclusion, the most concerned factor for the franchise agreement is sales management. Sex, shop size and income level are not meaningful factors, but the cost and training management factors are considered differently based on the service type. I hope 1) this study can be utilized for the franchise business starters judge and refer information level provided by the headquarters and make a successful franchise shop business. 2) this study can make solid relationship between franchise members and present a long term vision to them. Finally, this study can be a foundation to promote franchise field through making and supplementing the law of promoting proficient and good franchise headquarters and fairness of franchise transaction and franchise encouragement.

• International Area Studies Review
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• v.15 no.1
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• pp.87-106
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• 2011

Using an event study, this paper investigates stock price reactions on Korean listed firms' convertible bond (CB) issue announcements over the sample period of January 2000 to November 2007. This study finds that on the Korean Security market, the CB issue announcements are associated with an increase in shareholder wealth on the announcement date. An information leakage by insider traders is also observable at preannouncement dates. Unlike the prior studies that indicate a prevailing negative effect on the announcements, this paper shows that domestic CB issue announcements as well as offshore ones yield a positive impact on the stock prices. This presents that in terms of stock price reactions to the CB issue announcements, the two CB issue markets show the positively same effects on shareholder wealth for the post-2000 period. For its drivers, this paper suggests that on the Korean market, firm size have negative relationship with the increase in the wealth incurred by the announcements. By contrast, an issue to maturity, a growth opportunity, and a relative issue size make a positive impact on it.

• Economic Analysis
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• v.25 no.1
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• pp.66-122
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• 2019

As the Korean economy grew, employment expanded steadily, with the number of economically active people increasing and the employment-to-population rate also increasing. However, the working age population started to decline in 2017, and the employment of women and young people has been sluggish. The proportion of non-salaried workers in Korea is much higher than in other OECD countries, and is also excessive, considering Korea's income levels. In addition, the proportion of non-regular workers and the proportion of workers employed at small companies are particularly high among salaried workers. In light of these characteristics of Korean employment, the urgent problems facing the employment structure can be summarized by the deepening dual structure of the labor market, the increase in youth unemployment, sluggish female employment figures, and an excessive share of self-employment. Overall, it is seen that labor market duality is the main structural factor of the employment problems in Korea. Therefore, in order to fundamentally address this employment problem, it is necessary to concentrate policy efforts on alleviating labor market duality.

• Journal of the Korea Convergence Society
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• v.8 no.1
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• pp.19-23
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• 2017

Energy is a vital resource for the economic growth and the social development for any country. As the industry becomes more sophisticated and the economy more grows, the electricity demand is increasing. So forecasting electricity demand is an important for electricity suppliers. Forecasting electricity demand makes it possible to distribute electricity demand. As the market for Negawatt market began to grow in Korea from 2014, the prediction of electricity consumption demand becomes more important. Moreover, power consumption forecasting provides a way for demand management to be directly or indirectly participated by consumers in the electricity market. We use Genetic Algorithms to predict the energy demand of the fishing industry in Jeju Island by using GDP, per capita gross national income, value add, and domestic electricity consumption from 1999 to 2011. Genetic Algorithm is useful for finding optimal solutions in various fields. In this paper, genetic algorithm finds optimal parameters. The objective is to find the optimal value of the coefficients used to predict the electricity demand and to minimize the error rate between the predicted value and the actual power consumption values.

• KDI Journal of Economic Policy
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• v.18 no.1
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• pp.149-215
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• 1996

현행 민영화정책이 공기업의 효율성제고를 최우선 목표로 설정한 것은 타당한 선택이었음에도 불구하고, 경제력집중 심화에 대한 우려와 주식시장의 제약 등을 이유로 민영화정책은 그 추진실적이 부진하고 향후 지속 여부가 불투명한 것이 현실이다. 본(本) 논문(論文)은 우리나라 공기업민영화를 둘러싼 논쟁의 핵심인 경제력집중(經齊力集中), 경쟁도입(競爭導入), 주식시장여건(株式市場與件) 등이 공기업민영화와 관련하여 어떻게 이해되어야 할 것이며, 바람직한 정책대응(政策對應)은 무엇인지를 논의하고 있다. 재산권이론(財産權理論)을 동원하여 주인(主人) 있는 경영(經營)의 의미를 재해석할 때, 기업지배(企業支配) 통제구조(統制構造)의 정착이 요원한 우리 현실에서 민영화가 기업효율을 제고하려면 민간대주주(民間大株主)의 지배(支配)를 인정하는 방식이 최선책(最善策)이며, 소유가 분산되고 전문경영체제(專門經營體制)를 도입하는 민영화방식은 지배구조(支配構造)의 실패가능성(失敗可能性) 때문에 차선책(次善策)이라고 평가된다. 그러나 효율성 차원의 최선책은 경제력집중이라는 국민경제적 비용을 초래하므로, 정부로서는 경제력 집중이라는 비용(費用)과 효율성이라는 편익(便益)을 조화시키는 방안을 모색할 수밖에 없다. 이 경우 정부가 고려할 보완책(補完策)으로는 감자후(減資後) 민영화(民營化)와 분할민영화(分割民營化)가 있다. 한편 자연독점의 특성이 뚜렷한 일부 네트워크사업분야를 제외하면, 민영화시 경쟁도입(競爭導入)은 기업효율성과 국민경제의 배분효율성을 제고하므로 정부로서는 당연한 선택일 것이다. 경쟁은 공기업의 인수자격규제에 있어서도 새로운 기준을 제시하는데, 민영화를 정부(政府)와 민간(民間)사이의 M&A로 이해하고 경쟁제한적(競爭制限的) 기업결합(企業結合)을 규제하는 공정거래법(公正去來法)의 정신(精神)이 인수자격규제기준이 되어야 하며, 업종전문화(業種專門化) 발상(發想)에 근거한 인수자격규제는 득보(得)다 실(失)이 클 것이다. 아직도 자생적 성장기반이 취약한 주식시장의 제약에 따라 민영화일정의 탄력적인 조정은 불가피하지만, 정부는 상장(上場)의 필요성(必要性)을 재검토하고, 매각(賣却)의 우선순위(優先順位)를 조정하며, 무엇보다도 양질(良質)의 주식(柱式) 공급(供給)이 수요(需要)를 창출하는 메커니즘을 개발해야한다. 이와 함께 본(本) 논문(論文)은 현행 추진체계(推進體系)에 내재된 민영화의 지연가능성이 심각한 문제임을 지적하였고, 대규모 공기업의 민영화가 대기업(大企業)의 새로운 전형(典型)을 창출하여 한국자본주의(韓國資本主義)의 건전한 발전을 앞당기는 역사적 기회라는 점을 강조하고 있다. 마지막으로 재벌인수가 가능한 경우와 규제되어야 할 각각의 경우에 대하여 민영화정책(民營化政策)의 '체크리스트'를 제시하고 있다.

• Journal of Korea Port Economic Association
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• v.31 no.4
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• pp.151-168
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• 2015

Shippers face uncertainty and risks until the delivery of goods to the buyer (importer). To avoid these uncertainty and risks, shippers use the abroad logistics center and then try to construct continuous contract relations. From this viewpoint, this study examines the motivations of shippers to take advantage of the logistics center and perception difference for service quality according to the characteristics of shippers. For this purpose, T-test and ANOVA analyses are conducted using SPSS 21.0. The results suggest the following implications. First, there are no differences in perception regarding the motivation to take advantage of the logistics center for the size and characteristics of products. Second, the main motivating factors are maneuver to competitors and meeting buyers' demands by using the abroad logistics center. Furthermore, there is the level of perception for service quality regarding packaging and labeling in the logistics center. In contrast, the problem process and the quality of the order progress information is higher. Finally, specific logistics services are required depending on individual products because each product's characteristics are different.