• Analyses & Alternatives
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• v.6 no.2
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• pp.117-154
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• 2022

The purpose of this study is to verify the practical validity of financial sanctions, which has recently emerged as the most powerful form of economic sanctions preferred by U.S. foreign policy tool. Based on the theoretical discussion, analyse this study the trend of de-dollarization appearing in connection with financial sanctions and argue that the effectiveness of financial sanctions erode the dollar financial hegemony, which is the source of its power can be degraded, so that its effectiveness could not be so great as most people likely think about. After World War II, there has been an increasing tendency in the international community to favor economic sanctions over the use of military force as an effective means of foreign policy. Among these economic sanctions, a distinct feature that has recently appeared is the remarkable increase in the frequency of use of financial sanctions. The country that favors financial sanctions most is the United States. The reason is that they believe that the power of their own dollar financial hegemony can exert deadly pressure on other countries. Financial sanctions favored by the United States are said to have increased the effectiveness of sanctions by upgrading the pressure of sanctions to the next level. Nevertheless, financial sanctions have a side that underestimates the cost. This problem is found in the signs that the backlash from not only countries subject to financial sanctions but also many countries with interests in these countries is leading to a tendency to de-dollarization. This study will try to see how likely this de-dollarization trend is to offset the effectiveness of financial sanctions.

• Korea Trade Review
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• v.48 no.1
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• pp.165-191
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• 2023

The US and EU have imposed energy sanctions on the Russian oil and gas sector in response to the Ukraine crisis. One of the key measures is to cut oil and gas imports from Russia. The US and EU are both the senders of sanctions against Russia. However, there is a fundamental difference between them. While the US is the net oil and gas exporter, most EU member states are heavily dependent on Russian oil and gas. If the US and other major oil and gas exporting countries can replace Russia in the EU energy market, the effectiveness of energy sanctions against Russia can be guaranteed. Our result shows that it is difficult for the major oil and gas exporters to fully replace Russia in the short run because of the lack of additional production capacity and infrastructure. We conclude that the US and EU's energy sanctions against Russia can not guarantee its effectiveness. We argue that other measures, such as diplomacy, should be taken to settle the conflicts in Ukraine.

• KDI Journal of Economic Policy
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• v.35 no.1
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• pp.1-32
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• 2013

Economic sanctions and inducements are types of 'policy instruments' based on 'economic tools' to influence other international actors. Ongoing debates on sanctions and inducements have exposed drawbacks for relying on individual case studies. There are some studies in the literature that attempt theoretical analysis of sanctions and inducements, but they are mostly based on rational choice theory. In reality, however, there exist so many cases that cannot be explained by rational choice theory. These are called anomalies or exceptions. The literature introduces specific variables to interpret these anomalies and thus sacrifice the universality of the theory. From this point of view, prospect theory would present an effective tool to analyze economic sanctions and inducements. It is a behavioral economic theory that tries to model a decisions making process in reality. The theory says that people make decisions based on subjective value of losses and gains from an individual reference point, and that people evaluate these losses and gains using heuristics. Thus prospect theory could offer a different frame which has greater explanatory range without adding new variables. As a result of this study, target's losses of 'back down' towards economic sanctions loom larger when the reference point level increases, therefore, the effectiveness of sanctions decreases. However, target's losses of 'stand firm' towards economic inducements loom larger under the same condition of reference point, therefore, the effectiveness of inducements increases. The findings of the paper suggest meaningful implications to the economic policy towards North Korea.

• Strategy21
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• s.37
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• pp.242-274
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• 2015

2015년 5월 수중발사 탄도미사일(SLBM) 발사시험을 통해 북한은 전 세계의 이목을 또 다시 집중시켰다. 북한은 2013년 제3차 핵실험을 감행한 이후 최근까지도 탄도미사일과 로켓 발사 등의 무력도발을 지속해 왔다. 이와 같은 북한의 무력도발은 한반도의 안정뿐만 아니라 미국 본토의 안보에도 매우 부정적인 영향을 미치고 있다. 지금까지 미국은 북한의 핵미사일 개발 저지를 위해 경제적 또는 군사적 방안들을 선별적으로 적용해 왔다. 그러나, 이러한 미국의 노력에도 불구하고 북한은 여전히 핵미사일을 개발하겠다는 꿈을 포기하지 않고 있는 것이 사실이다. 본 논문은 북한의 핵미사일 개발에 대한 미국의 대안적 전략(Alternative Strategy)을 제시하는데 그 목적이 있다. 필자는 대안적 전략 제시에 앞서 북한의 핵과 탄도미사일 개발현황을 내용(Contents)과 맥락(Context) 차원에서 분석하고 미 오바마 행정부의 대북전략을 비판적으로 검토하였다. 그리고 대안적 전략으로 동맹국과 함께 경제적(Sticky Power), 군사적(Sharp Power) 수단의 동기화(Synchronizing)를 통해 북한이 감당하기 힘든 전략적 환경을 조성(Shaping the Strategic Environment)하는 것이 '북한의 핵개발 포기' 라는 전략목표를 달성하는 방안 임을 강조하고 있다. 미국이 대안적 전략목표를 달성하기 위해서는 경제적 수단으로 ① 북한의 자금세탁 및 위조지폐 발행국 지정, ② 북한을 지원하는 모든 해외자산에 대한 제재조치, ③ 북한의 테러지원국 재지정, ④ 북한 제재를 위한 미국의 입법추진, ⑤ 대량살상무기 관련 금수품목의 확대를 적용함과 동시에 군사적 수단으로 ① 대량살상무기 비확산 활동 강화, ② 대탄도미사일 전략 개발 및 정보(ISR: Intelligence Surveillance and Reconnaissance) 공유, 맞춤형 억제전략(TDS: Tailored Deterrence Strategy)의 구체화 등을 통한 한·미 군사 억제방안의 강화, 그리고 ③ SM-3, THAAD(Terminal High Altitude Area Defense) 등 한·미·일 3자간 MD(Missile Defense)체제의 구축 등을 동기화하여 적용해야만 할 것이다. 미국의 대안적 전략은 ① 북한의 핵미사일 개발에 대한 중국의 협력방지, ② 한·중간 경제관계의 악화, ③ 한·일간의 역사적 긴장관계라는 위험요소를 내포하고 있는 것 또한 사실이다. 따라서 미국이 대안적 전략목표인 '북한의 비핵화' 달성을 위해서는 이와 같은 위험요소를 완화시키는 노력도 병행되어야 할 것이다. 끝으로, 미국은 북한의 김정은이 핵미사일 개발 포기라는 상이한 방향의 전략적 결정을 할 경우에 대비하여 한·미 연합훈련의 보류, 북한에 대한 경제제재조치 해제 등 북한과의 협상 가능성도 열어두고 이에 대해서도 철저하게 준비해 나가야 할 것이다.

• Journal of Korean Society of Forest Science
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• v.95 no.3
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• pp.268-273
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• 2006

This study analyzed the technological change of Korean sawmill industry affected by change of factor price. An aggregate cost function has been estimated to analyze the technological change in Korean sawmill industry between 1970 and 2003 to the technical bias and scale effect. There was substitution among labour, capital, and material, especially in more elastic relation between labour and capital. In addition, domestic sawmill industry was progressed into structure which is biased to labour saving, and capital and material using because of increase of labour price. Since Korean sawmill industry's technology still exhibits an increasing returns to the scale, the large amount of investment has contributed to productivity growth, and the future productivity growth continually depend on the scale effect for some time.

• The Korean Journal of Air & Space Law and Policy
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• v.34 no.1
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• pp.3-38
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• 2019

In 1984, Congress enacted a new measure of administrative sanctions which is a civil money penalty program for violations of Aviation Act and its implementing regulations. This civil money penalty system has been in operations in lieu of suspending or revoking certificates issued by Korean government, Ministry of Land, Infrastructure, and Transport. According to the rules of Aviation Business Act or Aviation Safety Act, where the Minister of Land, Infrastructure and Transport should order an air carrier to suspend operation because of her violation under certain rules, in which case the suspension of operation is likely to cause serious inconvenience to consumers of air transport services or to harm public interest, the Minister of the department may impose an administrative monetary penalty in lieu of the suspension of operation. In this regard, airline related civil money penalties are somewhat different from those of fair trade, which is the origin of the money penalties system in Korea. Civil money penalties in the field of fair trade are imposed on executive duty violations that undermine the value of the market economy order, and focus on reimbursement of profits due to violations and compensation for unfair spending by consumers. However, in the aviation sector, breach of duty by a business operator does not simply cause the property loss of the public, but it has a direct impact on life or property of the public. In this respect, aviation penalties are more likely to be administrative sanctions or punitive measures than refunds of unfair benefits, compared to penalties in the field of fair trade. In general, civil money penalties have been highly preferred as administrative sanctions because they are subject to investigations by administrative experts and thus, efficiency can be ensured and execution is quicker than judicial procedures. Moreover, in Korea, because punitive civil damages cannot awarded by the courts, the imposition of civil money penalties is recognized as a means of realizing social justice by recognizing the legal feelings of the people. However, civil money penalties are administrative sanctions, and in terms of effectiveness, they are similar to criminal fines, which are a form of punishment. Inadequate legislation and operation of penalties imposition may cause damage to the value of Constitution. Under the above recognition, this paper has been described for the purpose of identifying the present status of the civil money penalties imposition system and operating status in the area of air transport under the laws and regulations in Korea. Especially, this paper was focused on exploring the problem and improvement direction of Korean system through the comparative study with foreign laws and regulations.

• Journal of the Korea Society of Computer and Information
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• v.20 no.6
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• pp.107-115
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• 2015

A fine is defined to the criminal penalty which is slighter than imprisonment on a system of criminal penalty, but put practically a seat to imprisonment and similar strong discipline contrivance to commission agent in capitalism societies be doing. Also, did heavy commission, but the corporation time, a fine to consider the respect which cannot impose other criminal penalty, and cannot but impose fine penalty only to this corporation carries out art as important criminal penalty than the commission which a person does. But fine drawing of our country cannot carry out art scaring to criminal penalty to rich body as aggregate fine drawing, and a lot of, but do abatement duration of a fine so as same, and be most in spite of adjudication criminal sentence occupying at criminal case adjudication, and difference cannot do to an amount of a fine that is carrying well out the art. Therefore, and have to change to the daily fine systemdm which gained because of total fine system in order to carry out value as modern criminal penalty, and a few fines shall exchange to penalty payment system according to complement department canon of Penal Code, and social accusation protects individual information of low commission agent if so, can normally do art accomplishment of criminal penalty. The system that the maximum can guarantee right of defence of accused has to have to be introduced in procedural a few aspect to pronounce this and a fine. Specially, let explain necessary fact to be related to, and informal procedures understand, and introduction of drawing to be able to get from accord of accused is necessary for accused before charging to informal decree in order cannot be guaranteed right of defence this of accused while consisting in writing of whether accusation and adjudication are procedural at informal procedures, and to supplement respect.

• KDI Journal of Economic Policy
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• v.15 no.2
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• pp.121-160
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• 1993

본고(本稿) 1981~92년의 부당한 공동행위(共同行爲) 및 사업자단체금지행위(事業者團體禁止行爲) 심결례(審決例)들을 통해 우리나라 사업자들의 담합(談合)패턴과 특징(特徵)을 살펴보고 이를 바탕으로 담합규제법제(談合規制法制)와 그 운용상(運用上)의 문제(問題)들을 검토하여 담합규제(談合規制)의 실효성(實效性) 제고(提高)를 위한 경쟁정책적(競爭政策的) 대안(代案)들을 제시하고 있다. 우리의 담합규제법제(談合規制法制)와 법시행방법(法施行方法)은 은밀하고 지속적인 담합(談合)보다는 담합(談合)의 직접적 증거를 남길 가망이 많은 명시적(明示的) 공모행위(共謀行爲)의 적발(摘發)로 기울어져 있는 것으로 보인다. 사실, 담합사건(談合事件)들이 경쟁적(競爭的) 시장(市場)에 편재(偏在)되어 있고 사업자간(事業者間) 및 사업자단체(事業者團體) 공동행위(共同行爲)의 평균공모기간(平均共謀期間)이 각각 8개월과 10.7개월에 지나지 않는다는 것은 적발 시정조치된 행위(行爲)가 주로 담합(談合)의 시도(試圖)였음을 시사하는 것이다. 또한 가격고정공모(價格固定共謀)의 평균가격인상율(平均價格引上率)이 18%임을 감안할 때 담합실행기간(談合實行期間) 매출액(賣出額)의 1%라는 현재의 최고(最高) 과징금액(課徵金額)은 부당이득환수(不當利得還收)나 행정제재(行政制裁)의 어떤 측면에서도 그 실효성(實效性)이 극히 의심스러운 적은 금액이며, 거의 모든 위법행위(違法行爲)에 대하여 시정조치(是正措置)만이 취해지고 담합사업자(談合事業者)들에게 과징금(課徵金)이나 형사벌(刑事罰)이 부과되는 경우도 극히 드물어 담합억지효과(談合抑止效果)가 의문시되고 있다. 담합규제(談合規制)의 실효성(實效性) 제고(提高)를 위해서는 경쟁(競爭)의 실질적(實質的) 제한성(制限性)이 아니라 경쟁제한(競爭制限)의 부당성(不當性)을 위법성(違法性) 판단기준으로 하여 가격고정(價格固定), 입찰조작(入札操作), 시장분할(市場分割) 등 '적나라한' 담합(談合)에 대한 당연위법원칙(當然違法原則)을 확립하고, 과징금(課徵金)을 담합기간(談合期間) 매출액(賣出額)의 20% 정도로 상향조정(上向調整)하여 담합(談合)에 대한 핵심적 제재수단(制裁手段)으로 활용하여야 한다, 또한 담합(談合)의 적발(摘發) 입증노력(立證努力)에 경제적(經濟的) 분석(分析)과 증거(證據)를 이용하고, 특히 입찰조작(入札操作)의 감시(監視) 적발체제(摘發體制)를 확립하여 공공조달분야(公共調達分野)에 대한 경쟁정책(競爭政策)을 강화해야 하며, 묵시적(默示的) 담합(談合)을 가능케 하면서도 합의(合意)로 간주될 수 없는 담합촉진(談合促進) 기도행위(企圖行爲)를 금지할 법적(法的) 근거(根據)를 마련해야 할 것이다.

• Korea and Global Affairs
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• v.2 no.1
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• pp.69-92
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• 2018

North Korea conducted a total of six nuclear tests from the 1st test of 2006 to September, 2017. North Korea developed an armed forces security strategy at the level of regime protection and defense to respond to U.S. hostile policy. However, it is certain that strategic goals of North Korea's nuclear test were to overcome a crisis in North Korea's regime through US-North Korea negotiation and complete nuclear armed forces for socialist unification on the Korean Peninsula. North Korea's continuous nuclear test is a direct factor in threatening peace on the Korean Peninsula and an indirect factor in security dynamics of Northeast Asia. The U.N. Security Council has enforced sanctions against North Korea through six resolutions against North Korea's reckless nuclear test for the past 10 years. However, Kim Jong-Un's regime is in a position to stick to simultaneous pursuit of nuclear and economic development in spite of anti-North sanction of international society including U.N. and U.S.A. It is understood that North Korea was stimulated to conduct intense nuclear test as U.N. and U.S.A's anti-North sanction was not effective on North Korea. Full-scale and local wars are expected as military options, one of anti-North sanctions of the Trump administration. The Trump administration has attempted diplomatic pressure strategy as a secondary boycott unlike previous administrations. Nevertheless, North Korea has stood against U.N. and U.S.A's anti-North sanction with brinkmanship tactics, announcing full-scale military confrontation against U.S. It is judged that North Korea will pursue simultaneous nuclear weapons and economic development in terms of regime survival. North Korea will have less strategic choices in that its regime may collapse because of realistic national strategy between U.S.A. and China.

• Journal of Korean Society of Transportation
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• v.27 no.3
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• pp.111-118
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• 2009

Factors causing traffic accidents are various and traffic law violations can be among them. The efforts to increase traffic law obedience rates of drivers are common in many other countries to reduce traffic accidents, and one of generally applied methods is to increase the amounts of violation fines. Expensive levels of traffic law violation fines could have drivers choose "obey the law" in their decision-making stages since they are economically better-off by following the law. In this sense, this study has developed an economic model to verify whether the current levels of the traffic violation fines of Korea are effective for drivers to choose "obey-the-law" decisions. Speed violations and traffic signal violations have been selected for the case study to verify the relationships between "expected probabilities of being-caught" and "levels of violations fines".