• Proceedings of the Korean Society of Computer Information Conference
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• 2019.01a
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• pp.119-122
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• 2019

최근 웹 변조 공격은 대형 포탈, 은행, 학교 등 접속자가 많은 홈페이지에 악성 URL을 불법 삽입하여 해당 URL을 통해 접속자 PC에 자동으로 악성코드 유포하고 대규모 봇넷(botnet)을 형성한 후 DDoS 공격을 수행하거나 감염 PC들의 정보를 지속적으로 유출하는 형태로 수행된다. 이때, 홈페이지에 삽입되는 악성 URL은 탐지가 어렵도록 Javascript 난독화 기법(obfuscation technique) 등으로 은밀히 삽입된다. 본 논문에서는 웹 소스코드에 은닉된 악성 Javascript URL들에 대한 일괄 점검체계를 제안하며, 구현된 점검체계의 prototype을 활용하여 점검성능에 대한 시험결과를 제시한다.

• The Journal of the Korea Contents Association
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• v.13 no.7
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• pp.432-439
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• 2013

In this study, we evaluate the volatility of housing prices by using literature review and empirical analysis and furthermore we suggest how to improve. In order to diagnose housing market, the KB Bank's House Price Index, Real estate 114;s materials were compared. In addition, to examine the volatility, GARCH (Generalized Autoregressive Conditional Heteroskedasticity) and EGARCH (Exponential GARCH) model are used. By analysis of this research, we found the volatility of housing price also was reduced in the medium and the large houses since 1998, while the volatility of small housing price relatively was large. We proved that the price change rate of small housing was higher than the medium's. On the order hand, the supply of small apartments fell down sharply. The short-term oriented policy should be avoided, and the efficiency and credibility of policy should be increased. Furthermore, the long-term policy system should be established. and rental market's improvement is necessary for stabilization of housing market.

• Management & Information Systems Review
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• v.29 no.4
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• pp.207-223
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• 2010

One of the important prudential regulations is the capital regulation. The current domestic and international capital regulation sets the minimum capital requirement according to the size of risk which is the simple sum of market risk and credit risk. However the portfolio theory suggests that, due to the effect of diversification, the total risk is less than the summation of market and credit risk. This paper investigates and does empirical test to verify the diversification effect in measuring financial firm's integrated risk. We verify the diversification effect between the market risk and credit risk. This paper's contribution is to present the empirical evidence that, considering the relationship between market and credit risk, the integrated risk is less than sum of them. This implication is that the surplus capital may be used for the other purposes, therefore enhancing capital allocation efficiency in view of society as a whole.

• International Commerce and Information Review
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• v.15 no.2
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• pp.25-47
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• 2013

In China, the commercial bank credit financing is the most important external financing channel for SMEs. However, the lack of credit guarantee significantly deters commercial banks to finance SMEs. which may generate a negative impact on the trade activities of SME in China. In this paper we examine the risk of credit guarantee for SMEs financing and the factors affecting this risk through a VAR (Value-at-Risk) model. Our analysis shows that the scale of enterprises' impact on the VAR (risk of financing guarantee) is not much relevant. We also find that the certainty of financing for SMEs, such as the fixed asset ratio, has a significant and negative effect on the VAR of Chinese credit guarantee institutions. The product uniqueness is positively correlated with the VAR, and operation risk is also positively related to the credit risk of Chinese credit guarantee institutions.

• Economic Analysis
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• v.26 no.2
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• pp.43-71
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• 2020

This paper aims to derive macroeconomic implications by analyzing the business cycle characteristics of the youth unemployment. The results of empirical analysis seem to show that youth unemployment appears to be relatively less correlated with business cycle compared to other age groups, and thus it is difficult to explain the recent steady increase in the potential labor force as a result of the business cycle fluctuation alone. Moreover, the alternative unemployment measures of the youth group showing upward trend were estimated to be co-integrated with output measures. This co-integrated trend increase suggests that unlike other age groups, youth may be influenced by structural factors inherent in Korea's economic growth path. The fact that the wage difference based on firm size has widened steadily since the Asian financial crisis and that the proportion of large companies that provide relatively high-quality jobs compared to major industrialized countries is significantly lower may be the evidence of the structural changes in Korean youth labor market. The results of above analysis may explain why the job search periods for youth has lengthened amid these structural changes.

• Economic Analysis
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• v.27 no.4
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• pp.43-69
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• 2021

As the trade linkages and the financial relationship between China and Korea grow stronger, China's influence on Korea is also growing larger. Therefore, it is meaningful to examine key features of Chinese monetary policy operations and the current situation, and to analyze the transmission mechanism of China's monetary policy shocks onto the Korea economy. China's monetary policy shocks can have an impact on the Korea economy through the trade, financial and oil-price channels. In the trade channel, an expansionary Chinese monetary policy can increase Korea's exports of intermediate goods to China under the vertical trade structure, via the vertical trade integration effect. Meanwhile, the expenditure switching effect and the income demand effect show no statistical significance. In the financial and oil-price channels, expansionary Chinese monetary policy shocks can decrease the interest rate and increase both stock prices and the consumer price index in Korea through changes in global portfolio capital flows, interest rates, and raw material prices.

• KDI Journal of Economic Policy
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• v.32 no.2
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• pp.171-216
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• 2010

With the payment and settlement systems becoming more and more complex and interconnected, the issue of their interdependency rises as an important academic issue as well as a policy topic. This study examines causes, forms, and risk management of interdependencies of payment and settlement systems in Korea, and presents their current situation. By way of simulations using BOF-PSS2 developed by the Bank of Finland, we quantify the effects of an operational disruption on the payment and settlement systems so as to figure out the degree of interdependency. As a result, the secondary round effect reaches up to ￦13.6 trillion a day, which amounts to 7.8% of the daily settlement value. Furthermore, if we also consider the amount of direct operational disruption, the volume of operational disruption occupies 22.3% of total value of the daily settlement, evidencing that the interdependencies of the payment and settlement systems in Korea is enormously widespread. The secondary round effects are found to be more severe with security companies rather than with banks, and to be more depended upon when it is perceived rather than it actually happens. In case that we expand the liquidity to include cash holdings and deposits as assets, the secondary round effect dramatically decreases in all types of financial institutions while foreign banks account for more share of all the secondary round effects increases. Based on these results, we suggest various policy tasks and directions to improve the risk management of settlement systems: expansion of off-setting settlements, introduction of a new settlement system for securities transactions, rapid provision of liquidity to financial institutions, more effective monitoring on participant institutions, and intensified information sharing and cooperation among the systems.

• Korean small business review
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• v.42 no.2
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• pp.23-42
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• 2020

In this paper, it is analyzed that the financial factors of successful/unsuccessful companies in restructuring among Korean SMEs. For this purpose, the cases of 494 SMEs that had been subjected to workout programs due to financial distress between 2008-2014 were collected from A bank which is a SME financing bank, and had been subjected to logistic regression and t-test. And the sample cases are categorized into two groups, companies subject to external audit and the others, to provide more reliability. The result suggests; First, in all sample cases of SMEs, those are success factors for workout in connection with smaller total assets, lager sales amount, lower ratio of intangible assets, higher ratio of operating profit, lower ratio of short-term debt, higher ratio of long-term debt, and longer corporation history. Secondly, several factors have different influence on companies subject to external audit and the others. Lastly, the success factors for workout in Korean SMEs turned out to be different from those suggested in previous studies that are focused on large company. Some of the financial factors that led financially distressed firm to a successful restructuring showed the same results as large companies, but some of them were not related to them or even had the inverse influence on SMEs. This implies that SMEs have their distinctive success factors.

• 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.

• Economic Analysis
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• v.25 no.2
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• pp.54-95
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• 2019

The purpose of this study is to analyze quantitatively and qualitatively the effects of the increase in online shopping and its effects on real-world commercial outlets. The empirical analysis of this study is based on the results of "Census on Establishments" and "Online Shopping Survey" that cover 15 years, from 2002 to 2016. According to the results of this study, the increase in the number of online transactions affects the decrease in the number of stores in the real-world retail sector. However, non-specialized large stores and chain convenience stores showed an increase in the number of stores. In addition, the number of F&B stores increased the most in line with the increase in online transactions. This is because the increase in online transactions and in internet users led to the use of more delivery applications and the introduction of popular places on blogs or through social media. Street-level rents for medium and large-sized locations increased. In other words, it is seen that the demand for differentiated real-world stores that provide a good user experience increases, even though online transactions also increase. These results suggest that real-world stores should provide good user experiences in their physical locations with a certain size and assortment of goods.