• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.58
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• pp.313-328
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• 2013

Today FTA extends over the world and Korea as a main member of international trade is no exception. In the past Korea, as the developing countries, has made endlessly effort to induce foreign investment from foreign enterprise and/or government to be a truly OECD countries today and made it. Korea's trade economy was reached 1 trillion dollars in 2012. Now we have to find a new way to produce, process, procure goods from foreign investment and also need to protect our profit and/or rights within foreign judicial territory. There are two method to protect foreign enterprise or government. First they rely on general principles in WTO or Bilateral Investment Treaty that the principle of equality, national treatment, and most-favored-nation treatment, you can create a predictable environment to protect foreign enterprise and/or government. Second they need to incorporate contractual clauses in their agreement such as stabilization clause, force majeure, arbitration, governing law or sovereign immunity. Of course there are many things left behind to consider I hope it will be helpful to those who prepare foreign investment contract.

• Proceedings of the Technology Innovation Conference
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• 2001.06a
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• pp.117-130
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• 2001

R&D is the core competence of an enterprise. Furthermore, R&D requires huge capital investment and has very risky characteristics. Therefore, to be successful in R&D process, several approaches of engineering economics are used prior to decision-making. Until now, typical approaches of engineering economics such as NPV(net present value) or DCF(Discounted cash flow) have been used. But, they cannot properly capture managerial flexibility to adapt and revise later decisions in response to unexpected market development. In a constantly changing and always uncertain marketplace, managerial operation flexibility and strategic adaptability have become vital in order to successfully capitalize on favorable future investment opportunities and limit losses from adverse market development. For the alternatives of conventional static decision-making approaches, new concept of using real options is introduced. Real option theory is based on financial option's characteristics and checks every revision interval whether situation have changed favorable to decision maker or not. In advantageous situation, the decision maker has only to go on. In contrast, with unfavorable situation, he abandons the investment immediately. In this aspect, real option model is more suitable in very uncertain and dynamic business environment in that it can provide the opportunity to cope with flexibility. This paper suggests efficient and effective R&D investment strategy by using real options model. In addition, this paper compares financial options and real options.

• Journal of Distribution Science
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• v.11 no.1
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• pp.15-23
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• 2013

Purpose - During a reform period lasting 30 years, the Blue Economic Zone (BEZ) in the Shandong Peninsula has made progress in attracting foreign investment, and has acquired the foreign direct investment (FDI) essential for economic growth. It is therefore important to conduct a proactive and systematic study of FDI in the BEZ. Research design, data, methodology - This dissertation discusses the contribution of FDI on economic growth, from both a theoretical and empirical perspective. Taking seven core cities for study, statistics and econometrics are used, and panel data are used to validate FDI contribution to import and export in the BEZ. Results- FDI was found to exert both positive and negative influences on the imports and exports of the BEZ. In other words, the research findings are consistent with Trade Generated and Inverse Trade Generated theories put forward by Kojima and Mundell, among other researchers mentioned earlier in this paper. Further, FDI has greatly increased imports and exports for the BEZ. Conclusions - According to the results of this empirical study on local investment environment optimization, FDI plays an important role in foreign trade. This dissertation puts forward recommendations on using FDI to better promote economic growth in the BEZ.

• Journal of Korea Technology Innovation Society
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• v.14 no.2
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• pp.279-300
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• 2011

Given the huge increase in interest in biotechnology, whose applications are being expanded as a new growth engine, investment and agency participation are also increasing. In 2008, the level of investment by the national R&D programs in future emerging technologies (6T) in the field of biotechnology was as great as that in IT, and six agencies and many relevant research institutes are now carrying out various related projects. This paper intends to review the status of investment in biotechnology by analyzing the portfolio and positioning of the national R&D biotechnology programs, which address global issues such as the quality of life, the aging society, and environment and energy, and to propose a new investment strategy and direction for the efficient implementation of the national R&D programs.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.295-303
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• 2022

Information and communication technology (ICT) is one of the primary zones that stimulates economic development in today's globalized world. It promotes technological developments in worldwide communication and manufacturing systems, as well as economic growth and development. Many economic activities, such as international trade and foreign direct investment, rely heavily on contemporary information and communications technologies (FDI). The goal of this study is to look at the dynamic relationship between FDI, ICT, trade openness, and economic growth in the context of BRICS countries from 2000 to 2018, with Gross Domestic Product as the dependent variable and Telephone subscriptions, Mobile subscriptions, Broadband subscriptions, Internet subscribers, Secure internet servers, Trade, and Foreign direct investment as the independent variables.Two variables are used as proxies to manage the macroeconomic environment, while five variables are used as proxies for ICT infrastructures. The outcomes of this study are analyzed using Generalized Methods of Movements (GMM). According to this study, ICT has a positive impact on the economic growth of a few countries. Trade openness and foreign direct investment, on the other hand, have a negative impact on economic growth. As growing countries, the BRICS must participate in economic reform and liberalization measures. This report suggests policy proposals for improving ICT standards, focusing especially on economic growth, trade openness, and increasing foreign investment in the BRICS countries.

• Ocean and Polar Research
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• v.33 no.4
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• pp.473-483
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• 2011

In the recent WTO/DDA negotiations, discussions are progressing to forbid fishery subsidies which have negative effect on the natural environment and the fishery resources and to lower or to eliminate the tariff/non-tariff barriers that distort trade liberalization. As a result, linking to the weak structural environment of Korea's fishing villages; such a scheme has jeopardized the livelihood of fishermen who settle down in local fishing harbors. Against this backdrop, the government is attempting to positively respond to changes in the fishing environment in a number of different ways: promotion of fishing tourism, fishing harbor reinforcement in function, developing fishing villages, and harbors. With respect to investment by priority in fishing harbor development, it is very important to appropriately select investment targets based on objective criteria. A small number of harbors are chosen and investment plans by harbor are systematically devised, economic feasibility and the effects of investment are analyzed and reviewed in relation to each target harbor. This paper is designed to review and assess objective evaluation methods and the degree of importance for the designation of target harbors, dealing with local harbors in Chung Nam Do as a model. Each local government has tried to reorganize existing harbors and develop new harbors, considering a fall in the number of fishing vessels and the expansion of maritime leisure activities. In order to overcome the limit of existing harbors in function, to raise the income of fishermen, and to activate tourism, they have shifted their focus from simple functions such as vessel evacuation and anchoring to harbor beautification, which can work as a basis for fishing tourism. This paper points out that the AHP analysis method for prioritizing local harbors in Chung Nam Do should help to be chosen target harbors in other cities and provinces. Each local government has attempted to reorganize existing harbors and to develop new harbors, taking into consideration the decline in the number of fishing vessels and the expansion of maritime leisure activities. In order to overcome the limited number of functional harbors, to raise the income of fishermen, and to boost tourism, they have shifted their focus from simple functions, such as vessel evacuation and anchoring, to harbor beautification, which can work as a basis for fishing tourism. This paper shows that the AHP analysis method for prioritizing local harbors in Chungcheongnam-do could aid in the effective selection of target harbors in other cities and provinces.

• Proceedings of the Korean DIstribution Association Conference
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• 2005.05a
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• pp.165-191
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• 2005

While a number of studies have recognized the importance of environment of channel systems and consequences of changed environment, only limited studies have dealt with this issue theoretically and practically. The purpose of this study is to empirically validate whether one dimension of environment, called dynamism, has an influence on the relationship characteristics such as transaction specific investment, opportunism and conflict or not; further, it is designed to delve into whether these relationship characteristics have any influence on one crucial relationship quality, 'trust' and its two constituent dimensions - credibility and benevolence. In order to provide empirical validation, a survey was conducted to 163 sales office managers at a major newspaper publisher in Korea. An analysis of the data retrieved from this survey indicated that while environmental dynamism has a positive influence on the publisher's opportunism and conflict perceived by the sales office managers, it did not show a direct influence on the transaction specific investment made by the publisher. Furthermore, while publisher's transaction specific investment had a positive influence on the credibility and the benevolence respectively, publisher's opportunism and level of sales office conflict had a negative influence on the credibility and the benevolence respectively. Currently, a publisher is facing an unprecedentedly dynamic environment. This study should provide ample implications for the publisher in establishing trust, which is a crucial condition in developing and maintaining a long-term successful relationship with its sales offices.

• The Journal of Sustainable Design and Educational Environment Research
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• v.8 no.1
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• pp.11-22
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• 2009

School is a basic and the most fundamental facility of city planning just like other basic public facilities including the village office. Every plan is established on the basis of school. However, the problems such as the population reduction resulting from the nuclear family-zation and low birth rate, employment and welfare of the aged people resulting from "the old aged society", and the infant nursing and education resulting from a rapid increase of the working couples become notable and accordingly more requirements are being made. Reflecting this trend, the concept and operation system should be changed. Up to now, the BTL projects of the educational facilities are gaining a reputation of being efficient in terms of national budget running, but at the same time receiving negative reputation in terms of budget saving under the civil creativity and efficiency. Through upgrading the private sector investment projects into the BTO+BTL system and further into the BTO(Build Transfer Operate), we can accomplish the original goals of the private sector investment projects, and can make the education budget operation more efficient, and can greatly improve the education environments. However, we should not underestimate in this process that these facilities should not negatively affect the education environments. In any situation, the owners of schools are students.

• Land and Housing Review
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• v.11 no.3
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• pp.21-31
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• 2020

This paper quantitatively analyzes the investment performance of the environmental improvement fund focusing on the sales effect and the housing benefit effect. The analysis of this study focused on the effects of sales and housing benefits for completed business sites among the business sites supported by the Environmental Improvement Fund. The analysis results are as follows. First, it appears that the sales effect of the completed workplace is effective compared to the amount of investment, so it seems that the purpose of industrial integration of the environment improvement fund is being achieved. Second, it was found that there are variations by workplace and region in housing benefits. This seems to be due to the fact that profitability can be neglected by reflecting the characteristics of residential facilities built by private businesses. The Environmental Improvement Fund is a policy fund that pursues both profitability and publicity. Therefore, it is necessary to transform the structure of the fund to expand support for industrial infrastructure with high publicity. To this end, it is necessary to establish a long-term management plan that equitably considers the profitability and publicity of the environmental improvement fund.

• The Journal of Sustainable Design and Educational Environment Research
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• v.6 no.2
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• pp.25-52
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• 2007

This paper is focused on the economical efficiency of the geothermal heat pump system in school. As the importance of problems of environment and energy becomes larger, the development and distribution of energy-saving technology in the whole nation has become influential. This paper is intended, targeting on school buildings scattered all over the country, to evaluate the introduction and possibility of a terrestrial heat system which is in the first stage of introduction in the country, through energy consumption and efficiency in case where a terrestrial heat system is introduced. To do that, the author performed a qualitative analysis of the heat pump system using various terrestrial heat energy and the system introduced to existing school buildings and, through the analysis, made tentative evaluation on the most environment-friendly and energy saving type system. Also, the author performed simulation analysis using a currently typical school building standard and, on the basis of this result, conducted efficiency analysis of various heat pump systems. The conclusion according to synthetical analysis & evaluation can be summarized as follows. In case a heat pump system is introduced to a school building, it was deemed the investment in the early stage would increase, but the investment could be collected within 5~6 years through reduction of large operation expenses. Also, it was analyzed in case of terrestrial heat contracted heat mode using midnight electric power among heat pump systems, not only early investment but also operation expenses could be reduced to a great extent. Accordingly in case the system using terrestrial heat energy is applied to the school buildings that are to be newly built or repaired in the future, it will provide an object-lesson to students as well as contributing to energy saving.