• Journal of Korean Society of Forest Science
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• v.103 no.1
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• pp.137-146
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• 2014

We have developed the Forest Carbon Sink Index on afforestation and reforestation activities, a regulation stated in article 26 of the 'Law on the maintenance and enhancement of carbon sink (Carbon Sink Law)', which took effect on March, 2013. According to the legal purpose to evaluate the performance of individual forest carbon offset projects and to compare each other at a certain point, values of the forest carbon sink index were calculated by the scoring method. Three criteria were established based on the Carbon Sink Law: 'Carbon' (real greenhouse gas reduction), 'Human' (socio-economic effect) and 'Nature' (environmental effect). Continuously, 9 indicators from the three criteria were selected by top-down approach; the adequacy of each criteria and indicators were reviewed through on-line Delphi survey; and finally weighted value of each criteria and indicators were assigned. To reflect the characteristics of the domestic forest carbon offset projects, which focus on corporate social responsibility-typed projects, we applied the score weighting method to minimize gaps among criteria and ones among indicators. After applying our newly developed forest carbon sink index to five domestic forest carbon offset projects, we could confirm that the criteria of 'Human' and 'Nature', which criteria are in relatively low weight, can play a role as an actual incentive to reduce negative socio-economic and environmental impacts. Based on performance evaluation of the five forest carbon offset project by the forest carbon sink index, the best or good performance project developers could be rewarded, and further the performance evaluation would work as an incentive to stimulate the involvement of domestic project developers in the field of forest carbon offset project.

• Journal of Korea Technology Innovation Society
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• v.11 no.2
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• pp.241-263
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• 2008

Within any income approach, a discount rate is used to convert some projected free cash flow to its presented value. In case of valuing companies, the most frequently used discount rate is the weighted average cost of capital(WACC) at the aggregate level. But technology valuation is different to discounting aggregate corporate cash flow since it is concerned about individual Intellectual property. Therefore, blindly applying standard discount rate such as WACC in technology valuation is unlikely to lead to the right result. The primary focus of this paper is to establish the structure of discount rate for technology valuation and to suggest the method of estimation. To determine an appropriate discount rate for technology valuation, the level of technology risk, market risk and competitive risk should be included in the structure of discount rate. This paper suggests the build-up model which consists of three components as a expansion of the CAPM. It includes (1) a risk-free rate of return, (2) general market risk premium and beta and (3) intellectual property risk premium related to technology risk and specific target market risk. However, there is no specific check list for examining the intellectual property risk until now and no specific method for quantifying its risk into risk premium. This paper developed the 10 element to determine the level of the intellectual property risk and applied estimation function such as linear function, natural log function and exponential function to transform the level of risk into risk premium. The limitation of this paper is that the range of intellectual property risk premium is inferred based on the information of foreign and domestic valuation agency. Finally, this paper explored the development of an intellectual property discount rate for technology valuation and presented the method in order to quantify the intellectual property risk premium.

• The Journal of the Convergence on Culture Technology
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• v.5 no.4
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• pp.277-282
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• 2019

This study analyzed the determinants of the financial Soundness of savings banks. In particular, empirical analysis was carried out on how the loan deposit ratio correlates with financial soundness after restructuring. As the restructuring of savings banks was finalized in 2014, asset management changed and it is time to analyze the financial characteristics of savings banks. In summary, the relationship between the savings bank lending rate and the NPL ratio is estimated to have a negative value at the 1% significance level. In other words, the higher the mortgage rate, the lower the substandard and below ratio. It can be said that it is not easy for a savings bank to build an aggressive loan portfolio. In other words, the more difficult it is to finance loans through savings deposits, the more likely the risk aversion tends to be. The higher the corporate loan ratio, average interest expense, and economic growth rate, the higher the risk index. The larger the asset size and the higher the loan growth rate, the lower the risk index. Increasing the mortgage rate may reduce risk-seeking behavior, but it does not mean that it is unconditionally positive for savings banks. Therefore, the loan deposit rate regulation should reduce the incentives for excessive asset expansion and manage preemptive soundness through lending portfolio management.

• Journal of Climate Change Research
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• v.1 no.3
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• pp.219-226
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• 2010

This study is analyzed the financial feasibility of biomass power plant in China in terms of fuel marginal price of biomass power plant. The range of fuel price is 150~300 RMB and IRR(Internal Rate of Return), NPV(Net Present Value), DSCR(Debt Service Coverage Ratio) and operation time are analyzed by 10 RMB from 150 RMB. The sensitivity of IRR went down by 1.35 on average. The sensibility of NPV showed big difference by 20% on 260 RMB and 270 RMB. In addition, DSCR of loan is at 1.0 at raw cost of 242 RMB and at lower than 1.0 when the raw cost over 242 RMB. It means that the pay-off of principal and interest of the loan is expected to be difficult in that case. The operation time of power plant should be 88% against standard operation time to maintain over 1.0 of DSCR. Therefore, the factors affecting the cost of raw material to build the power plant and to operate it should be prioritized.

• Journal of Korean Society of Disaster and Security
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• v.11 no.2
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• pp.9-15
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• 2018

From natural disasters such as floods, heavy rains, and strong winds and social disasters such as 911 U.S. terrorism and cyber attacks that could have a fatal impact on corporate continuity, it is necessary to introduce and implement a Business Continuity Management System (BCMS) within a firm to maintain continuity of business and to change the organizational structure for an emergency state in order to operate and manage it systematically and efficiently. therefore, this study analyzed and verified the impact of introducing a Business Continuity Management System (BCMS) on the change in the recognition structure of an organization in four categories, including personal recognition, organizational culture, organizational structure, and organizational strategy, in order to analyse the impact and effect of introducing a Business Continuity Management System (BCMS) on the change in the recognition structure of each category. through this study, we believe that the introduction of a Business Continuity Management System (BCMS) within a firm could effectively change the organization's perception of an emergency state and help it maintain its continuity as well as improve its value.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.19 no.5
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• pp.25-32
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• 2019

The purpose of this study is to investigate how to make a proper investment in ICO in the market. Previously, companies used to borrow money from banks or to obtain investments from venture capital (VC) and angel investors, but now ICOs are used as a new type of funding and financing model. The ICO sells the tokens or coins created on the blockchain openly online to raise the necessary funds, and provides the market value by paying the tokens or coins as much as the investment amount. According to this study, the limitations of the ICO market are (1) difficulties in evaluating the company, (2) uncertainties in investments, (3) lack of legal safeguards, and (4) measures to secure corporate stability after recruitment. At present, there is no way to cope with this systematically since the ICO is not protected in the legal framework. Nevertheless, we investigated the ways to make proper investment in the existing ICO market. In investing in ICO, investors should (1) consider investment methods and profitability, and (2) verify and judge investment fraud through various channels (ex. Homepage, composition team profile, etc.) and make investments based on this. This study will contribute to the formation of a healthy ICO market by understanding the newly emerged ICO market and studying the considerations when investing in it, thereby contributing to the right investor training and reducing the mass production of consumer damages caused by fraud. The limitation of this study is that the domestic ICO has not yet been examined in the legal framework, so further research is needed when policy changes occur in the future.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.3
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• pp.568-578
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• 2021

Patents that are research results from industry-university cooperation (IUC) are a source of innovation, and play an important role in economic growth, such as technology transfer and commercialization. For this reason, there are many efforts to revitalize IUC, but in general, company patents are achievements that can be commercialized, rather than research achievements, so not all patents are used for business, even after their creation as the outcome of IUC. Therefore, this research supports the design of measures in which IUC can ultimately be linked to successful utilization of patents by identifying the purposes of IUC, even after it has been successfully promoted, and patents have been filed as a result. To this end, first, the patents registered for industry-academia cooperation in the United States are collected, and second, a predictive model is designed, with unexpired and expired patents predicted using machine learning techniques. The final identified patents are intended to derive available factors in terms of marketability and technicality. This study is expected to help predict the utilization of unexpired and expired patents, and is expected to contribute to setting goals for research results from technical cooperation between corporate and university officials planning early IUC.

• The Journal of the Korea Contents Association
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• v.21 no.2
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• pp.572-586
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• 2021

With the advent of the 4th Industrial Revolution, the modern economy is transforming into a service-oriented economic society, and there is a growing need for companies to reorganize organizational culture, values, and human resources to suit the changing environment. Especially, even when times change, human capital is the most important factor in maintaining sustainable development and Corporate value, since all work is done by people. Therefore, in this study, in order to recognize the importance of human resources and verify the appropriate human resources for the changing service economy era, we reviewed the literature and that drew the human resources suitable for the recent service economy era Based on this, an empirical study was conducted on whether the suggested human resources factors were useful. To this end, a feasibility analysis, reliability analysis, correlation analysis, confirmatory factor analysis, and reference validity were conducted by dividing into a preliminary survey and a main survey. As a result, it was finally drawn with 30 items, 7 factors. The results of this study are expected to be used as basic data in various fields of research on human resources in the service economy era, and in-depth empirical studies are needed in the future.

• Korean small business review
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• v.42 no.2
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• pp.117-137
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• 2020

We examine the current status of smart factory deployment and diffusion programs in Korea, and seek to promote manufacturing innovation from the perspective of SMEs. The main conclusions of this paper are as follows. First, without additional market creation and supply chain improvement, smart factories are unlikely to raise profitability leading to overinvestment. Second, new business models need to connect "manufacturing process efficiency" with "R&D" and "marketing" in value chain in smart factories. Third, when introducing smart factories, we need to focus on the areas where process-embedded technology is directly linked to corporate competitiveness. Based on the modularity-maturity matrix (Pisano and Shih, 2012) and the examples of U.S. Manufacturing Innovation Institute (MII), we establish the new smart factory deployment policy measures as follows. First, we shift our smart factory strategy from quantitative expansion to qualitative upgrading. Second, we promote by each sector the formation of industrial commons that help SMEs to jointly develop R&D, exchange standardized data and practices, and facilitate supplier-led procurement system. Third, to implement new technology and business models, we encourage partnerships, collaborations, and M&As between conventional SMEs and start-ups and business ventures. Fourth, the whole deployment process of smart factories is indexed in detail to identify the problems and provide appropriate solutions.

• Korean small business review
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• v.43 no.4
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• pp.95-115
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• 2021

Quality is an important factor influencing organizational performance, so it should be possible to accurately and effectively measure the quality perceived by members. The Consumer Cooperative can be seen as a retail industry by industry classification, and there are various studies based on the dimension of retail quality, but compared to the general retail industry, few studies have been conducted based on the quality level perceived by members. The purpose of this study is to develop quality dimensions and sub-attributes by analyzing in detail and elaborately how the quality of cooperative is viewed from the perspective of members who are both consumers and owners. To this end, the quality dimension of cooperative quality is needed to be newly developed and quality components are demonstrated based on previous studies on the quality dimension. The quality dimension of the cooperative was developed through prior research to suit the value of the cooperative in product, service, and social responsibility, and a survey was conducted to demonstrate the four major cooperative members in Korea. Through this, sub-dimensions were constructed and the quality dimension of the high-order model was demonstrated through exploratory factor analysis and confirmatory factor analysis. It aims to discover key management elements in terms of quality management and provide practical implications to management.