• The Korean Journal of Financial Management
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• v.23 no.2
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• pp.27-56
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• 2006

This paper analyzes whether corporations which have done capital reduction fulfill the objectives of their capital reduction as planned and also asks how did the capital reduced corporations fare in terms of stock returns, by investigating the capital reduced corporations on the Exchange and the Kosdaq between 2000 and 2004. Most capital reduced companies aim to improve their capital structure. Debt to Equity ratio among financial ratios has improved significantly after capital reduction, yet the profitability of corporations wasn't up to expectations. The analysis of cumulative abnormal returns (CARs) indicates that the CARs were below '0' during whole investigation period. Besides, the CARs of companies listed on the Kosdaq have plummeted to -53.5%. Half of the companies on the Kosdaq in this sample which have reduced their capital to avoid delisting have been eventually delisted after capital reduction. This Study concludes that simple capital reduction without having value-added projects is not beneficial to shareholders.

• Journal of the Korean Institute of Landscape Architecture
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• v.49 no.5
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• pp.27-45
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• 2021

The purpose of this study is to trace the path of policy for urban parks and greenbelts (PUPG) pursued by Seoul Mayor Kim Hyeon-ok, who was a protagonist of Seoul's modernization and to reveal the policy's characteristics. A high modernism perspective was projected to advance his PUPG discussion. High modernism was an unavoidable phenomenon that appeared in post-war urban reconstruction projects and emerged in the form of a belief that the national elite creates the ideal social order and rational planning. Its characteristics were to build with legibility, immediacy, and convenience by power, with private participation and profit creation, while realizing the spectacle of "the city being built". As a high-modernist, Seoul Mayor Kim Hyun-ok's urban planning aimed to deal with the booming population and the expansion of Seoul's territory. Although his PUPG extended the parks to the outskirts of Seoul, he showed a dualistic attitude, diverting parks away from the city center. On the other hand, he induced the participation of the private sector to create parks. However, he showed the other side of modernization, eliminating the placeness and excluding related systems. The path taken by Mayor Kim Hyun-ok's PUPG was started to respond to population growth and resolve the encroachment of parks. The ultimate goal was to accept the realization of urban planning and experiment with non-financial methods. The characteristics of his PUPG reflecting high modernism were: First, elites were represented in the National Land Planning Association, HURPI, and Jang Moon-gi participated; second, legibility was ensured by using east-west and north-south axes, elevation standards, and rational planning. Third, parks were quickly released to respond to the rapid urban change. Fourth, it showed off events and spectacles to attract private capital.

• Journal of the Korean Regional Science Association
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• v.35 no.1
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• pp.3-18
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• 2019

Urban sprawl has been criticized due to its negative effects, including the encroachment of farmland and open spaces, the increase in traffic congestion and air pollution, the decline of central city, the decrease in social capital, and the unfairness of tax burdens on infrastructure and public services. This study measures urban sprawl in the capital region of South Korea where the characteristics of urban sprawl have been known to be different from those identified in the U.S. metropolitan areas. In particular, the study examines whether the capital region has experienced the decline of the central city with an expansion of low density residential development in suburban areas. Three measurements, the sprawl index with population density, the ratio of changes in urbanized areas to changes in population, and the population density gradient, were employed to measure urban sprawl, and GIS mapping and descriptive analysis were used to examine the central city decline and the characteristics of development patterns in suburban areas. The results show that the capital region of South Korea is moving to the American style sprawled development with the decline of the central city and an increase of single detached homes in suburban areas, implying that policy makers need to develop growth management strategies to prevent urban sprawl and its negative effects that many U.S. metropolitan areas have suffered from.

• Journal of The Korean Digital Architecture Interior Association
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• v.7 no.1
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• pp.7-13
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• 2007

Virtues and advantages of urban areas would be tarnished if benefits and convenience of the cities were overwhelmed by the logics of selfish development and reckless expansion. Reckless development, which is not limited to a certain point of time and space, has become a social and environmental problem for a long period of time, taking advantage of legal and administrative loopholes. In the metropolitan area surrounding the capital, especially Yongin, where semi-agricultural zones have been developed recklessly, serious problems have already emerged including the lack of infrastructure, environmental contamination, destruction of scenic landscapes, encroachment of good farmland and forest and invitation of natural disasters. This study assumed all these problems as the consequence of the inadequacy of the legislative system and analyzed the causes. The study also suggests some countermeasures. Most of all, a "planning-first, development-later" practice should be brought into place so that various experts could participate for a detailed planning. Public development should also be expanded so that beneficial public facilities could be set up in the first place. A system for reasonable development charges should also be come up with. In this process, the role of the administrators becomes yet more important for a long-term, systematic planning of future cities, accompanied by public housing developments.

• Journal of the Korean Society of Environmental Restoration Technology
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• v.22 no.4
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• pp.35-45
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• 2019

The objective of this study is to analyze habitat distribution on tiger, wolf, and leopard in Joseonwangjosilok. Nowaday, we only come to meet these kind of animals at the historical records because of haman-induced habitat encroachment. Historically, extinct animal became an object of game by people. So, we try to get distribution information for restoration on historical extinct animals. We made distribution map by constructing 402 counts on tiger(350), leopard(51) and wolf(1) recordsfrom 14th to Early 20th century for study. Analyzing historical materials, criteria for data analysis took into account objectivity, location information, accuracy for extinct animals. We carried out location identification of animals by using geocoding comparing with geographical name of the Joseon Dynasty period, topographic map of time under the rule of Japanese imperialism, present place name and historical materials. Database items are constructed 20 types for example appearance year of animal, population, location, damage, etc. As a result of analysis for appearance regions, tigers were recorded in capital area of higher density population intensively, and also were frequently seen at Daegu, Andong etc. Leopard and wolf were founded at regionally Gyeonggi-do and Jinju with limitation, relatively seen a few number. The reason of the appearance records like this, tiger prefer game of open and water-front area in near human residential area, there are lots of historical records such as 'Hosang'(mourning someone who killed by Tiger) and hunting. But leopard and wolf inhabit rocky area and dense forest, the reason why they made a few contact with human. Results of this are expect to be applicable restoration research for extinct animal by providing for populations, habitat environments and distribution information.

• Journal of the Korean Institute of Landscape Architecture
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• v.40 no.3
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• pp.69-80
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• 2012

The purpose of this paper was to study the issues related to converting the graveyards within forests into spaces intended for tree burials by means of planting, given the situation that the graveyards have encroached on land and damaged the environment. For the reason, a field survey was performed to determine the width, length, and distance to the nearest tree of 205 graveyards in the capital area. Through this, it was determined that the domestic lands damaged by graveyards amounted to $862km^2$, including the areas that were deforested to manage the graves. This only confirms that land encroachment by graveyards is a serious issue. The methods for making tree burial sites were examined from the perspective of how to meet public demands given the graveyard's spatial distinctiveness. As a result, this study suggested different methods to establish tree burial sites according to the degree of transformation and the term of its formation. This study also classified the graveyards into three types, and identified the planting methods that harmonized the safe growth of trees and the scenic beauty of memorial places based on the standard. This is in order to plant trees that are shade-tolerant and suitable to the forest line, along with which other tree line was and also, to plant aesthetic trees around the empty space. Through applying the developed methods, this study established and monitored two exemplary sites in Yongin and Boryeng. Aesthetic trees were planted in Yongin site which was located in an open area, aod the shade-tolerant trees were planted in Boryeong, which was located in a forest area. As a result, the image of a garden appeared at Yongin site and the image of a tree colony harmonized with the near forest emerged at Boryeong site. Therefore, it is confirmed that the method of planting according to the distribution status of neighboring trees was effective. As a result of monitoring, mulching wood chips were suitable for sites that were small or easy to approach. This is because the weeds were controlled in Yongin site by mulching. Furthermore, by monitoring the growth of 11 species of vegetation, this study confirmed that low and cover-type vegetations were suitable for tree burial sites. In Boryeong site, the wild cherry trees, which were planted as adult trees, all died, and the tilling of snake's beard, which were planted as cover vegetation, was slow. Therefore, this study found that seedlings were more suitable to plant in forest graveyards than adult trees, which were large and difficult to approach, and it was effective to use the remaining lawn and form a low vegetation after the crown of trees had expanded to such places.