• The Korean Journal of Financial Management
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• v.20 no.2
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• pp.41-72
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• 2003

The purposes of this paper are to build theoretical and empirically testable model to identify determining factors of ownership structure, and to analyze this model empirically using th Korea Stock Exchange panel data, and to test the impact of opening the stock market on the determinants of ownership structure. The determining factors of ownership structure identified in this paper include debt ratio, dividend, asset characteristics, profitability, growth business risk, size, institutional investors and chaebol-non chaebol dummy variable. Empirical panel estimation test reveals that this model can explain about $9\sim11%$ of the cross sectional variance in the equity ratio of large shareholders. The reasons that this model has too explanatory power are that some variables were measured with errors, and that there were some omitted variables in tested model. The regression results on the model variables ar generally in line with predictions. But the coefficient estimates on size is never significant. And it appears that the exogenous variable which explains opening the stock market has positive effect on the determinants of ownership structure.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.2
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• pp.23-33
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• 2014

This paper aims at delivering significant implications to high-tech startups by visualizing the implementation process of leading KOSDAQ listed companies's business model. This paper founded two meaningful outcomes; first, hish-tech starts-up make a clear direction of implementing intangible business model in real business, second, targeting the role model of benchmarking business model among leading companies, by linking common feature between high-tech starts-up and leading KOSDAQ listed venutures sharing one of Key performance indexes falls on viable business model. The research results of visualizing the implementation of leading KOSDAQ listed ventures' business model shows three major implications. First, business model indicates not just simple logic of creating and delivering values, but more shows CEO leading management vehicle. Second, business model represents the multi-dimension process itself of integrating in and out company's core assets and competencies initiated by CEO. Third, financial outcomes of business model is automatic result of implementing on setting target customer, creating value, and delivering it rather than planned strategically. Fourth, the focal points of implementing business model falls on collecting real information from business sites.

• Korean Business Review
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• v.17 no.2
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• pp.1-23
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• 2004

Since revision of Korean GAAP on the merge transaction in 1999, the few studies on the problems of the GAAP or on the inconsistency of GAAP and regarding tax regulations have been performed. The objective of this study is to understand the present state of the merge transactions, to find out the problems on the regarding GAAP and tax regulations, and to suggest the method to improve them. Among the 69 merge transactions of the listed and registered companies for the recent 3 years, 67 merge transactions are reported as the purchase transactions and 2 transactions as the pooling of interest. And 11 transactions occurred between parents and subsidiaries. I investigate the sufficiency of the foot disclosures on the merge transactions, I find out that the disclosure on the amortization of the negative goodwill are not sufficient, and several transactions are not recorded in conformity with GAAP. This paper indicates the problems on the GAAP as follows: the complicated and irrational method of amortization of the negative goodwill, the valuation of the stocks acquired before the merge, the inconsistent adjustments to purchase consideration contingent on future events, and the valuation of the merge between the parents and subsidiaries. And the problems on the tax regulations are as follows: tax deferment of the income from merge valuation, the ambiguous definitions of the fair value, and stock dividend of the income from merge valuation.

• Management & Information Systems Review
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• v.32 no.1
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• pp.195-216
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• 2013

This Study investigates evaluation policies for goodwill under the current tax law and suggests improvements as follows. First, even though not appear on the financial statements of acquiree at the date of acquisition, the current corporate tax raw regulates that firms need to estimate purchased goodwill including acquisition amount and additionally recognizable intangible property right with no distinction. According to this rule, purchased goodwill from business combination under the current tax raw has a drawback in overestimating. So, there is need of further improvement on the current related purchased goodwill regime to distinguish additionally recognized intangible property right from purchased goodwill. Second, in the consideration of internally generated goodwill, suggested in the current inheritance and gift tax act as a supplementary evaluation technique, the estimated value of goodwill may contain some bias, since the current regulation uniformly applies to all the companies with no industry characteristics. This may particularly become problematic while computing abnormal earnings, uniformly applying the 10% normal return to all the companies since the normal return is not likely to reflect industry characteristics and thus the computed abnormal earnings may be biased. Therefore, there is need to revise the current regulation relating to the normal return, to convert from the existing 10% rule to the industry average rate of return method.

• Journal of Broadcast Engineering
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• v.8 no.4
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• pp.410-426
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• 2003

MPEG-21 defines a digital item as an atomic unit lot creation, delivery and consumption in order to provide an integrated multimedia framework in networked environments. It is expected that MPEG-21 standardization makes it Possible for users to universally access user's preferred contents in their own way they want. In order to achieve this goal, MPEG-21 has standardized the specifications for the Digital Item Declaration (DID). Digital Identification (DII), Rights Expression Language (REL), Right Data Dictionary (RDD) and Digital Item Adaptation (DIA), and is standardizing the specifications for the Digital Item Processing (DIP), Persistent Association Technology (PAT) and Intellectual Property Management and Protection (IPMP) tot transparent and secured usage of multimedia. In this paper, we design an MPEG-21 terminal architecture based one the MPEG-21 standard with DID, DIA and DIP, and implement with the MPEG-21 terminal. We make a video summarization service scenario in order to validate ow proposed MPEG-21 terminal for the feasibility to of DID, DIA and DIP. Then we present a series of experimental results that digital items are processed as a specific form after adaptation fit for the characteristics of MPEG-21 terminal and are consumed with interoperability based on a PC and a PDA platform. It is believed that this paper has n important significance in the sense that we, for the first time, implement an MPEG-21 terminal which allows for a video summarization service application in an interoperable way for digital item adaptation and processing nth experimental results.

• Convergence Security Journal
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• v.20 no.4
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• pp.187-196
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• 2020

In order to manage information security risk, various information security level evaluation and information security management system certification have been conducted on a larger scale than ever. However, there are continuous cases of infringement of information protection for companies with excellent information security evaluation and companies with excellent information security management system certification. The existing information security risk management methodology identifies and analyzes risks by identifying information assets inside the information system. Existing information security risk management methodology lacks a review of where cyber threats come from and whether security devices are properly operated for each route. In order to improve the current risk management plan, it is necessary to look at where cyber threats come from and improve the containment level for each inflow section to absolutely reduce unnecessary cyber threats. In addition, it is essential to measure and improve the appropriate configuration and operational level of security equipment that is currently overlooked in the risk management methodology. It is necessary to block and enter cyber threats as much as possible, and to detect and respond to cyber threats that inevitably pass through open niches and use security devices. Therefore, this paper proposes additional evaluation items for evaluating the containment level against cyber threats in the ISMS-P authentication items and vulnerability analysis and evaluation items for major information and communication infrastructures, and evaluates the level of security equipment configuration for each inflow.

• Journal of Space Technology and Applications
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• v.2 no.2
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• pp.146-168
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• 2022

Witnessing current military conflicts in South China Sea and Eastern Europe, most defense analysts evaluate one of the most serious security threat toward the US is coming from the superpower competitions with Russia and China. The main means for such super power hegemonic competitions is military power and space power is a key enabler to maximize the efficiency and effectiveness of military employment. Reflecting above circumstances, the space hegemonic competition between the Unites States and China is spreading into all aspects of national powers. Under such an environment, R.O.K needs to significantly develop national space power to preserve life and assets of people in space. On the other hand, the R.O.K has a lot of limitations in launching space assets into orbits by land-based space rockets due to its geographic locations. The limitation of rocket launching direction, the failure to secure a significant area enough to secure safety and the limitation to secure open area enough to build associated facilities are among them. On this paper, I will suggest the need to build the 2nd space rocket launching site after analyzing a lot of short-falls the current 'Naro' space center face, compared to those of advanced space powers around the world.

• Journal of Internet Computing and Services
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• v.24 no.6
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• pp.161-169
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• 2023

Due to the Fourth Industrial Revolution, innovation in various technologies such as artificial intelligence (AI), big data (Big Data), and cloud (Cloud) is accelerating, and data is considered an important asset. With the innovation of these technologies, various efforts are being made to lead technological innovation in the field of defense science and technology. In Korea, the government also announced the "Defense Innovation 4.0 Plan," which consists of five key points and 16 tasks to foster advanced science and technology forces in March 2023. The plan also includes the establishment of a Condition-Based Maintenance system (CBM+) to improve the operability and availability of weapons systems and reduce defense costs. Condition Based Maintenance (CBM) aims to secure the reliability and availability of the weapon system and analyze changes in equipment's state information to identify them as signs of failure and defects, and CBM+ is a concept that adds Remaining Useful Life prediction technology to the existing CBM concept [1]. In order to establish a CBM+ system for the weapon system, sensors are installed and sensor data are required to obtain condition information of the weapon system. In this paper, we propose a sensor data metadata schema to efficiently and effectively manage sensor data collected from sensors installed in various weapons systems.

• Strategy21
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• s.46
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• pp.239-276
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• 2020

The failure of early economic sanctions aimed at hurting the overall economies of targeted states called for a more sophisticated design of economic sanctions. This paved way for the advent of 'smart sanctions,' which target the supporters of the regime instead of the public mass. Despite controversies over the effectiveness of economic sanctions as a coercive tool to change the behavior of a targeted state, the transformation from 'comprehensive sanctions' to 'smart sanctions' is gaining the status of a legitimate method to impose punishment on states that do not conform to international norms, the nonproliferation of weapons of mass destruction in this particular context of the paper. The five permanent members of the United Nations Security Council proved that it can come to an accord on imposing economic sanctions over adopting resolutions on waging military war with targeted states. The North Korean nuclear issue has been the biggest security threat to countries in the region, even for China out of fear that further developments of nuclear weapons in North Korea might lead to a 'domino-effect,' leading to nuclear proliferation in the Northeast Asia region. Economic sanctions had been adopted by the UNSC as early as 2006 after the first North Korean nuclear test and has continually strengthened sanctions measures at each stage of North Korean weapons development. While dubious of the effectiveness of early sanctions on North Korea, recent sanctions that limit North Korea's exports of coal and imports of oil seem to have an impact on the regime, inducing Kim Jong-un to commit to peaceful talks since 2018. The purpose of this paper is to add a variable to the factors determining the success of economic sanctions on North Korea: preventing North Korea's evasion efforts by conducting illegal transshipments at sea. I first analyze the cause of recent success in the economic sanctions that led Kim Jong-un to engage in talks and add the maritime element to the argument. There are three conditions for the success of the sanctions regime, and they are: (1) smart sanctions, targeting commodities and support groups (elites) vital to regime survival., (2) China's faithful participation in the sanctions regime, and finally, (3) preventing North Korea's maritime evasion efforts.

• Journal of Korea Technology Innovation Society
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• v.19 no.3
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• pp.465-482
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• 2016

Previous researches have introduced various ways to analyze the impact of standardization on innovation while the works are not only small in number but based on interview or case study. This paper addresses the impact of standardization activities within South Korean industries on technological innovation applying an empirical analysis of standardization activities and technological innovation. Drawing on Korean Industrial Standards Classification from panel data of 2003 to 2012, we employed corresponding data of each industrial classification: Number of standards, Accumulated number of standards, Number of patents applied in Korea, Sales, Operational profit, Intangible asset, and R&D invest. In the first model, we run panel data models employing the number of patents applied in Korea as an independent variable, and the number of standards, accumulated number of standards, sales, and operational profit as dependent variables to observe industrial impacts upon the relationship between standards and patents, along with time lagged consideration. The result shows that number of standards are revealed to have a negative influence on patent applications in the year of research, and no significant effect appears for the next two years while positive effect shows up on the third year. Meanwhie, accumulated number of standards turned out to have positive effects on patent applications in Korea. This implies it takes time for innovation subjects to embrace newly established standards while having a significant amount of positive effect on technological innovation in the long term. In the second model, we use canonical correlation analysis to find industrial-wide characteristics. The result of this model is equivalent to the result of panel data analysis except in a few industries, where some industry specific characteristics appear. The implications of our results present that Korean policy makers have to take account of industrial effects on standardization to promote technological innovation.