• Korean Journal of Construction Engineering and Management
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• v.11 no.3
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• pp.134-144
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• 2010

In China, the enhancement of water services has become the most crucial issue confronted with the rapid urbanization and industrialization process. A huge financial gap to meet the demand for water infrastructure and need for adopting advanced operation technology precipitated the rapid growth of PPP over the last 10 years. Diverse schemes of PPP such as TOT, Divestiture, and Management Contract and Lease have been practiced. Local governments and private investors/operator have adjusted their objectives and strategies to avoid potential pitfalls behind BOT projects in China. However, current academic research outcomes do not properly reflect important issues of BOT projects or related case studies in China. This limitation has brought in the lack of assessment of important risks and success factors required for the improvement of the body of risk management. In this regard, this study uses the market analysis method to identify major schemes of PPP water projects and conducts case studies on five PPP projects to identify key risk and success factors in association with each different scheme. It is expected that the risk and success factors identified from the cases will be used as reference to Korean companies which plan to enter the Chinese water market.

• Journal of the Korean Regional Science Association
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• v.32 no.3
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• pp.29-43
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• 2016

The purpose of this study is to derive research subject that has been overlooked in previous studies and contribute to seek to the direction of research in rural development by analyzing the studies in the last 30 years on rural society. In this study, Social Network Analysis was used for identifying the changes in research themes and connection structure of keyword. The study shows that in the previous Roh Moo-Hyun's Administration from 1986 to 2000, the convergence of the research is not active. In terms of the connection structure of keyword, lots of keywords are connected to the 'Migration, IMF, Satisfaction, Green Tourism' but its form is not complicated. In the Roh Moo-Hyun's Administration from 2001 to 2007, the academic exchanges and convergence of keywords on rural development were promoted research. The connection structure of keyword was formed like a complex cluster associated with 'The Rural Elderly, Rural Tourism, Rural Development Policy, Urban-Rural Comparison'. Although some scholars who study 'Women's Studies, Tourism' formed the cluster, its form is still passive. Since 2008 until now, the keyword network of rural development research clustered densely and formed singly. It reveals that the convergence of research subjects has proceeded actively. And studies such as the 'Community, Participation, Social capital, Quality of life, Social networks, Alternative food movement' have begun.

• KDI Journal of Economic Policy
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• v.14 no.2
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• pp.3-27
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• 1992

In 1988, the government provided to the low income people 34.1% of the stocks of Pohang Iron & Steel Company through the People's Share Program of Privatization for the first time, and then in 1989 21% of the share of the Korea Electric Power Corporation were also provided to the low income classes through the same way. The purpose of the People's Share Program was known to be to support the low income classes through participating the profit of public enterprises, and also to expand the capital market through the diversification of stock holding structure. Initially, the government planned that the government share of enterprises such as the Citizens National Bank, the Korea Telecommunication Authority would be sold to the low income classes through the People's Share Program step by step. The income support policy, however, was no longer driven after 1989 when the overall stock prices started to decline. In this paper we tried to measure the effect of the privatization scheme of the public enterprises through the People's Share Program. The problems of the People's Share Program of the Pohang Iron & Steel Commpany and the Korea Electric Power Corperation were also identified. Several implications of the privatization scheme of the public enterprise through the People's Share Program by stages were found. The People's Share Program was found to be a non-stable policy measure for the income support of low income classes. The efficiency impact of the privatization through the People's Share Program was found to be non-significant.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.2
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• pp.699-711
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• 2011

This study is to perform several major analyses to find any differences in the leverage between the pre- and post-period of the currency crisis. Moreover, another aspect is to investigate a financial aspect which has received relatively little attention to the firms and/or industries in the emerging capital markets in comparison to those in the advanced markets. The purpose of this empirical study is to confirm whether or not, it is myth or reality that Korean business conglomerate, chaebol, firms with subsidized financing from government-owned domestic financial institutions in the pre-financial turmoil, may still maintain their higher leverage, even after the crisis. It was found that firms belonging to the chaebol in Korea maintained higher average book-value and market-value based debt ratios, relative to their counterparts not belonging to the chaebol across all of the tested models. There were positive relationships of IND3(=the chemical industry) and Ind5(=the construction industry) to the book-value leverage. This study identified that there were no differences in the explanatory variables included, between the tested models (that is, without and with including the present value of an operating lease) related to each debt ratio. Since the Korean government continue to improve the corporate governance of the domestic firms in terms of accounting transparency and corporate ownership, it would be more efficient, if utilizing this "new" ratio considering an operating lease as an effective measurement of the level of leverage. In terms of the capital structure, it may also be possible for foreign firms to utilize and benefit from the results obtained in this study when operating their new businesses in Korea, given the economic circumstances such as the ongoing progress of the Korea-America FTA or the Korea-China FTA.

• Korean Journal of Construction Engineering and Management
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• v.21 no.5
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• pp.64-73
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• 2020

The government announced a plan for fund support to the enterprises with high possibility of recovery and early restructuring for the enterprises with low recovery by objectifying credit assessment system. Such announcement of government could be extended to restructuring risk of middle standing enterprises with low financial soundness by establishing the basis to prepare prompt restructuring by reinforcing the basis for restructuring through capital market. This research analyzed financial soundness based on the financial evaluation of bank by selecting 10 middle standing construction companies which focused on housing business in 2019, based on such analysis result, it was confirmed that there was a high possibility of restructuring risk. This research determined that there would be a decrease in growth rate of construction industry on the whole in 2020 due to fall of economic growth rate and reinforced real estate regulation, accordingly, there's a big possibility for middle standing construction companies with paid-in capital ratio due to its low possibility of maintenance of stable credit rating. This research established KCSI assessment model by utilizing the material of a reliable research institute in order for middle standing construction companies to evade restructuring risk, and indicated risk ratio differentiated per each item through a working-level expert survey. Such research result could suggest credit risk reduction method to middle standing construction company management staffs, and prepare a basis to evade restructuring risk.

• The Journal of Natural Sciences
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• v.11 no.1
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• pp.119-130
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• 1999

As Japanese economy has been well developed, the manpower problem of farmland has also become one of the largest and the most crucial issues in the overall agricultural policy of the Japanese Government. Particularly, the energetic younger generation and a core of agricultural labor force, has drastically decreased, while the weak older generation has increased. The severity of manpower shortage in agricultural sector led to create a farmer training programs which had been vigorously begun by the Yamagata Prefecture, and a center for promoting local autonomy. The major purpose of education for enhancement of status of future farmers as well as the welfare of core farmhousehold is to provide them with technical of vocational education to give training to those who want to become agricultural technicians, rural leaders of practical farmers Educational program for future and young farmers put emphasis on practical trainings which are directly applied to proper farm management. As a supporting policy for promoting future farmers' activities, Prefecture-level supports were strengthened to develop technical capability, managerial and supervisory ability, and the ability to lead organized activity so that the farm youth may operate modern farms with higher efficiency and greater specialization. Political consideration was also made to develop a rich sense of farm management as well as the adaptability necessary to introduce technical and managerial innovations. Methological measurements on how the Korean government has to do for solving the problem of agricultural manpower facing in farmland in Korea were noted.

• Korean Journal of Heritage: History & Science
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• v.52 no.2
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• pp.4-19
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• 2019

Despite continuous volatility in ideological leanings, South Korean governments, conservative or progressive, have published a series of plans for aiding the economic development of North Korea. The Moon administration's plan is the paragon of such efforts. In addition, recent detente between the North Korean regime and the US government evokes much hope in its success. There is, hidden behind the veil of hope, apprehension about the crisis of management of cultural heritage in the North Korean region. It is believed that development policies may overwhelm efforts at conservation of cultural heritage, in particular that the hurrying of development projects would provoke insufficient and inappropriate investigation of archaeological sites., If these problems arise, responsibility for their resolution would be carried by South Korean archaeologists and governmental institutes. This paper reviews what the South Korean government has suggested for North Korea's economic recovery and examines what capability the South Korean archaeology sector has for investigating North Korean cultural heritage. It then discusses the scale of investigation needed, and what should beused as precedent in planning substantial excavations when development projects are performed in the North Korean region. Constructing a digital map system for cultural heritage of North Korea is suggested as one of the most urgent tasks precedent to substantial excavations. It is of great importance because we do not currently have any substantial information about the locations and current condition of cultural heritage sites and artifacts in the North Korean region. The mapping of Bronze Age sites in North Korea, conducted as a sort of pilot test, revealed that archaeological sites are densely distributed in several regions, especially Hwanghae-do and Pyoyang Directly-Administrated City, and that there is high potential of discovering new sites.

• Journal of Digital Convergence
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• v.19 no.3
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• pp.453-463
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• 2021

The purpose of this study is to establish the most severe impacts of Covid-19 in the field of the performing arts and to explore countermeasures taken both at home and abroad. This study has been conducted through literature surveys. The conclusion is as follows. First, since the outbreak of Covid-19, theater venues around the world have actively taken part in uploading recorded performances to streaming services. Secondly, these performance visualizings are generally considered as being complimentary goods rather than a substitute for live performance. Thirdly, although more audiences are tuning into watch on-line performances, consumption is concentrated on a few theaters which have a worldwide reputation and a broad range of content. Fourthly, to tackle the impact that Covid-19, the UK government announced a series of job protection schemes in the field of the Arts. In addition, Arts Council England prepared an emergency response package. In Korea, some countermeasures such as government support for artists and cultural establishments have also been implemented. Lastly, some suggestions for the sector. I conclude that there is an need for domestic companies to secure core contents of significant quality and to make strategic alliances with leading overseas performance companies so that they may cooperate together.

• Analyses & Alternatives
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• v.7 no.2
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• pp.147-178
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• 2023

While most of countries today are opposing the issuance of private-led cryptocurrency, nevertheless they are actively jumping into the issuance of government-led digital currency such as CBDC. This article aims to find an answer to this dual attitude of countries. To achieve the purpose, this article finds out the characteristics of political power and economic interest that digital currency has and applies it to the international dimension of the Bretton Woods II System. Then come up to the conclusion that the answer can be found in the fact that the current dual attitude of countries is closely related to the crisis of the international monetary order. The Bretton Woods II System, which led the world economy through reckless monetary expansion based on credit currency, exposed its limitations through the 2008 global financial crisis and put countries into difficulties. In this situation, the cryptocurrency, which appeared by raising the issue of the monopoly power of the central authority in issuing currency, had no choice but to act as an opportunity to drive countries further and further into a corner. This article views CBDC as a national response to address these issues. In other words, countries maintain their monetary power by absorbing the challenge of private digital currency at the government level through CBDC, and use this as a stepping stone to reorganize the international monetary order in crisis with the intention to use it as a means to their advantage. That is what this article is trying to argue.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.3
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• pp.81-95
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• 2024

This study empirically analyzed the effectiveness of government financial support policies for venture enterprises in the Daejeon region, using raw data obtained from the Small and Medium Venture Business Administration's survey results from 2016 to 2021. Daejeon, considering its economic significance, has a significant proportion of venture enterprises in its economy compared to the national average, with a focus on technological development. Conducting regression analysis yielded several key findings. Firstly, loan and guarantee support is effective for improving sales and market share, while R&D support is effective for technological development. Second, R&D and loan support have the most significant impact on sales in the fourth stage (maturity), while guarantee support is most influential in the third stage. Third, in industry analysis, the coefficients representing the effects of financial support were larger across all performance indicators compared to firm level data analysis. Based on these empirical analysis results, the study proposes several policy implications as follows. First, the government should actively provide funding support to venture companies rather than leaving investments to the capital market. Second, the methods and targets of funding support should vary according to the purpose of the support. Third, it is necessary to establish a platform that connects venture companies with private investors to commercialize developed technologies. Fourth, the funding support of venture capital for technology-intensive venture companies should be expanded.