• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.18
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• pp.189-218
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• 2002

The EPC/Turnkey Contract goes to the extreme in allocating risks to the contractor and depending on the types of project, this may be regarded as unacceptable. It has also gone to the extreme in the extent to which the contractor is responsible for the specification and design of the Works. The employer is not responsible for correctness of any information provided by him nor for correctness of any specification or other matter included in the Employer's Requirements, except the definition of the intended purpose and criteria for testing and performance. With such conditions it is surprising that the employer is entitled to interfere in the contractors performance to an extent that is close to what is norm for a construction contract with employer design and with normal risk allocation. The combination of risk allocation and inappropriate administrative provisions makes the EPC/Turnkey Contract a document that will meet severe resistance from contractors. It is also likely that employers will see the risks and difficulties from their own perspective. It is a fiction that the EPC/Turnkey Contract will give the employer a contact with a certainty of final price and completion date. It is not a fiction that the EPC/Turnkey Contract carries many seeds for disputes between the parties. The Orange Book has become an accepted document even if it clearly contains some weaknesses. Some of these have been corrected in the Plant Contract. In my opinion FIDIC should let users become more familiar with the Plant Contract as a follow up to the Orange Book.

• Journal of the Korea Convergence Society
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• v.6 no.4
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• pp.127-132
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• 2015

This study attempts to empirically investigate if relative momentum strategy is effective in the Korean stock market. The sample of the study is comprised of companies which are traded in both Kospi and Kosdaq stock markets in Korea for the period between 2001~2014. The study observes that the momentum strategy buying past winner stocks and selling past loser stocks is negatively correlated with the value strategy buying value stocks with high book to market ratio and selling glamour stocks with low book to market ratio. And each strategy is alternatively effective from period to period. The study demonstrates that the momentum strategy is effective when both strategies which are negatively correlated are treated as one system by estimating Fama and French's[1] 3 factor regression model.

• Journal of Korean Library and Information Science Society
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• v.20
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• pp.61-105
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• 1993

For decades, general services and accounting officers have been dominant forces in collection development activities in college and university libraries in Korea. The role of certified librarians has been rather peripheral. This has been allowed by the fact that library acquisitions departments had to be headed by non-librarian general administrative officers by the government regulation. The philosophy behind this regulation was that acquiring library materials was not any different from simple purchasing act of other useful goods in the marketplace. In affiliation with the element of general administrative officers, domestic book-sellers also had a great influence in collection building activities in college and university libraries in Korea. This has been made possible by the fact that no other people could su n.0, pply library materials, especially foreign library materials. It has been pointed out for years that the mechanism in which general administrative officers and domestic book-sellers had a greater say in library acquisitions activities was especially inefficient in acquiring wanted materials in wanted speed and in wanted price. In this mechanism, books and periodicals were mere goods. They were not perceived as intellectual property holding information and knowledge in them. Since the student movement to revolutionize the library system of the Pusan National University, September 1987 to December 1988, the creative and progressive elements in this university library have been making great efforts to change the acquisitions system in this library into a more efficient one by putting certified librarians at the center of the whole acquisitions process. These efforts have been successful to a certain degree. In this discursive study of the case of the Pusan National University Library, I have tried to achieve a social description of the library process in which progressively motivated librarians succeeded in alienating administrative officers and book-sellers and in grasping in their hands the hegemony in the collection building aspect of library activities. It has been discovered that this was possible only when the librarians were mature enough to have their kind of professionalism, i.e., professional ethics and craftsmanship.

• The Journal of Information Technology
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• v.3 no.3
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• pp.89-102
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• 2000

The purposes of this research are to analyze information contents of net book value and earnings. If investors use Net book value and earnings to their investment strategies, These informations are positively to be correlated with future corporate value. Research methodologies applied are theoretical and empirical ones. Results of the study are as follows: First, as investors form their investment portfolios, PBR and ROE are good indicator in finding out undervalued and overvalued corporation. Second, present earnings are differently reflected in future stock prices. Price-earnings correlation of undervalued corporations are higher than that of overvalued ones. Results of this study imply that Investors can utilize net book value and earnings to their investment strategies.

• Journal of the Korean Data Analysis Society
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• v.20 no.6
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• pp.2759-2769
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• 2018

The behavioral finance view on the existence of asset pricing anomalies is based on two factors: investors' sentiment and limits to arbitrage. This paper tries to examine the effect of investors' sentiment on the stock price in the Korean stock market. In order to measure investors' sentiment, we constructed the sentiment index using principal component of five sentiment variables. By using sentiment index as an additional independent variable to three risk factors, impacts of the sentiment index on individual stocks and 25 portfolios sorted by BM-size are examined. Main results found are as follows: 1) not only all three risk factors show positive impacts on the return of individual stock, but also the sentiment index has a positive impact. SI alone explains 15% of individual return variation. 2) among four independent variables, the most important factor turned out to be the market risk factor and investors' sentiment has better explanatory power on stock price than the size effect. 3) after controlling the market risk factor, the coefficient of the sentiment index for the smallest size and highest book/market value portfolios is significantly positive. 4) all the coefficients of the sentiment index for 25 portfolios sorted by BM-size have significant positive value after controlling size or (and) value.

• Asia-Pacific Journal of Business
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• v.11 no.4
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• pp.243-254
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• 2020

Purpose - This paper explores whether overnight returns measured from the last closing price to today's opening price explain the cross-section of stock returns. Design/methodology/approach - This study is conducted using the Korean stock market data from 1998 to 2018, obtained from DataGuide database. The analysis begins with portfolio-level tests, followed by firm-level cross-sectional regressions. Findings - First, when decile portfolios sorted on the daily average of overnight returns in the previous months, the highest decile portfolio exhibits a significant negative risk-adjusted return. This suggests that stocks with higher average overnight returns are temporarily overvalued due to buying pressure from investors. Second, at least 6 months of persistence exists in average overnight returns, which is in line with the results reported by Barber, Odean and Zhu (2009) that investor sentiment persists over several weeks. Finally, Fama-MacBeth cross-sectional regression of expected returns after controlling for a variety of firm characteristic variables such as firm size, book-to-market ratio, market beta, momentum, liquidity, short-term reversal, the slope coefficient for overnight returns remains negative and statistically significant. Research implications or Originality - Overall, the evidence consistently suggests that overnight return is considered as a new priced factor in the cross-section of expected returns. The findings of this paper not only adds to finance literature, but also could be useful to practitioners in making stock investment decision.

• Journal of Chest Surgery
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• v.25 no.4
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• pp.438-444
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• 1992

We analysed 7,180 annual cases of surgical treatment performed by Department of Thoracic and Cardiovascular Surgery of 6 major institutes in Seoul Korea, All cases were applied to 101 of 140 coded items applicable to the field of Thoracic and Cardiovascular Surgery, in the book of "Standard Price List for Medical Service" which was notified by the Ministry of Health and Social Affairs, and of them, applied field specific items were 70 of 93 applicables. The most frequently applied items were those associated to ECC[extracorporeal circulation] 1,510 cases, and then item of closed thoracostomy 751 cases was next. Except the items associated to ECC, the coded item of the highest "Total cost[fee x total applied numbers]" was mitral valve replacement 182,356,570 won[534,770 won x 341 cases]. 140 items were arranged in "Total cost" order, and then categorized into 5 groups. Medical insurance fees of each group were modified by different grades without changes in sum of total fees. Fees of Group 1, the highest group in "Total cost" were pulled up, on the other hand, Group 4, the lowest group, were pulled down, Group 5, composed of overlapping items with other fields, were not changed. The result of adjustment by grouping showed 21.2% increment effect[535,749,105 won] in real income. And we found that new coded items for modern high technological procedures should be added to "Standard Price List for Medical Service “Standard Price List for Medical Service".

• 지역과문화
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• v.7 no.2
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• pp.85-111
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• 2020

In Korea, the independent publication market has grown since it came into existence in the 1990s. In 2008, the country's first independent bookstores selling independent publications opened. As of late 2019, there were a total of 466 independent bookstores in Korea and the number of independent bookstores rapidly increased for the last decade. However, the closing rate of independent bookstores is rapidly increasing. This trend is also shown in independent bookstores in Gwangju. Recently, the closing rate of independent bookstores in Gwangju is more than twice as high as the national average. Against this backdrop, this study intended to identify the current conditions of independent bookstores in the city, analyze the problems facing them, and find solutions. Independent bookstores in Gwangju currently make various efforts such as book curation, management of various supplementary programs, and book markets. However, the bookstores have problems including the curation and programs focused on specific areas, focus on limited generations, dependence on publications from the Seoul metropolitan area. To address these problems, this study proposed solutions such as diversifying publications through planning and developing of local contents, strengthening the taste-based salon nature, organizing networks of independent bookstores, and systematically incubating independent bookstores. At the system level, this study also suggested a need for local bookstore certification system, a complete execution of a fixed book price system, and a fair provision rate.

• Korean journal of food and cookery science
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• v.26 no.1
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• pp.72-78
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• 2010

This study aimed to obtain basic data toward fostering understanding and interest in local foods, to the overall end of enhancing development and popularization of such foods. It also gives direction toward promotion of local food by researching attitudes toward local foods and viewpoints on requirements for improvement of such, among university students living in the Daegu-Kyungbuk area. The results of analyzing perceptional scores for native local foods in Kyungbuk by characteristics t showed statistically significant differences according to sex and duration of residence in Kyungbuk. Obstacles to the promotion of local foods include lack of marketing, lack of specialized restaurants, lack of knowledge, lack of menus, lack of generalization, and high price. The results of analyzing viewpoints on requirements for improved perception of local foods, there were statistically significant differences in active advertisement and marketing, diversity of local foods, and duration of dwelling.

• Journal of the Korean Society of Clothing and Textiles
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• v.21 no.4
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• pp.782-794
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• 1997

The purpose of study were 1) to find whether brand loyalty is reasonable measurement for market segmentation or not, 2) to know consumers' purchasing behavior by marketsegmentation, 3) to draw preference jean product. Objects were 462 high school students who live in Seoul and random sampling referred from "Korean school guide book". The questionnaires were selected from the previous studies and various bibliographies. For statistic analysis, percentage, average, ANOVA, x2-test, Duncantest, paired t-test, and multiple regression were used by SAS package. The results of this study were as follows. 1) Consumers were classified into affective brand loyalty group, familiar brand loyalty group, habitual brand loyalty group, brand interest but no brand loyalty group, and no brand loyalty group. 2) There were notable differences in clothes purchasing behavior variable through market segments' purchasing (requency, price. 3) The most Prefered jean Product is 80,000 won, domestic well-known brand, baggy style and preferable jean product shows different when it classified brand loyalty.d loyalty.