• The Journal of the Convergence on Culture Technology
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• v.9 no.2
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• pp.301-306
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• 2023

Convergeance in the military operations can be attained by simultaneously integrating effects based on sensor, C2, shooter asset in multi-domain and there is no exception to special operations. However, because of challenges from enemy, terrain, geopraphy, and weather, it's not easy to intertwine effects created from ground, sea, air, cyber and electromagnetic spectrum, and space in special operations conducted in deep area. This study presented how to intertwine high-tech such as long-rane reconnaissance·strike drone, cutting-edge sensor, jamming pod, and modular repeater in order to offset aforementioned challenges. Several new high-tech are able to strengthen convergeance of special operations in accordance with the development of the 4th industrial revolution. Therefore, follow-up studies need to be continued making an efforts to search for them.

• The Journal of the Convergence on Culture Technology
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• v.9 no.3
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• pp.19-26
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• 2023

The impact of environmental, social and governance (ESG) performance on investors' decision-making is growing. Investors' focus on the financial performance of firms in the past is expanding to the non-financial performance of the interests of stakeholders surrounding firms. Against this backdrop, this study conducted a panel regression analysis on firms evaluated by Korea Corporate Governance Service to analyze the impact of ESG performance, a firm's non-financial performance, on firm risk. According to the analysis, ESG performance has a negative (-) effect on all three firm risks (systematic risk, unsystematic risk, and total risk), indicating that the stakeholder theory and risk management theory are supported. The implications of this study are: First, ESG reduces not only unsystematic risk but also broad and indiscriminate systematic risk; Second, investors can reduce the risk of their investment portfolio by executing ESG investments; Third, companies can achieve stable financial performance even in adverse circumstances by utilizing the insurance function of ESG management; Lastly, the government can enhance the stability of the financial market while improving the financial soundness of firms through reasonable ESG-related regulations.

• Convergence Security Journal
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• v.24 no.3
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• pp.51-57
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• 2024

Cryptocurrency service providers and virtual asset operators, built on blockchain technology, face transaction risks such as cyber threats, wallet theft by internal personnel, theft of customers' private keys, and fraudulent cryptocurrency transfer signatures. To ensure secure operations against these threats, their security is validated through the ISMS-P certification. This study to analyze the risks presented in ISO TR 23576, which is specialized for cryptocurrency service providers and operators, in addition to the ISMS-P certification they obtain. The study will focus on the detailed inspection items of ISMS-P and ISO TR 23576 for cryptocurrency service providers and assess their importance. Based on this analysis, the study proposes an internal security control process for cryptocurrency service providers to address the top-priority risks, enabling practitioners to perform security control tasks more efficiently.

• The Korean Journal of Financial Management
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• v.27 no.2
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• pp.85-114
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• 2010

Using the financial institutions that have adopted performance-based stock option plan, this paper examines whether performance-based executive stock options improves effectively firm value. Over the period 2002~2005, we investigate short-term and long-term effects of the performance-based stock options on stock price. The empirical results are summarized as follows. First, the announcement of plain vanilla stock options generates no significant effects on firm value. Meanwhile, the announcement of performance-based stock options results in negative and significant abnormal returns, which is contrary to the expectation. In addition, we find that there are strong, significant and negative announcement effects when banks grant performance-based stock options. Secondly, there is no significant difference between the long-term performance of the sample granting stock options and that of the benchmarks, which is similar to the findings of the previous research. Also, we fail to get any evidence that performance-based stock option awards have improved the long-term firm value.

• Journal of Distribution Science
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• v.12 no.8
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• pp.113-121
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• 2014

Purpose - Recently, the number of corporations that practice environmental and social responsibility, besides engaging in traditional profit-seeking activities, has been growing steadily, as interest in Corporate Social Responsibility (CSR) is increasing. Recent research on CSR practices has identified the relationship between CSR activities and corporate value as one of the main issues in this respect. Considering that donations constitute a large proportion of a company's charitable activities, we considered the extent of donation expenses as a charitable activity in order to mitigate sample selection bias. Specifically, we analyzed the impact of donation expenses on firm value, while investigating if this impact varied in response to the level of corporate governance of firms. Research design, data, and methodology - We used non-financial firms listed on the Korean Stock Exchange, having their fiscal year end in December, and the sample period was 2006-2013. For the dependent variable, Tobin's q was used as the corporate value, and for the independent variable, donations were measured as the donation-expense-to-sales ratio. Corporate governance scores, as rated by the Korea Corporate Governance Service, were used to measure corporate governance levels because they consider the overall aspects of governance, including ownership structure, the board of directors, and the audit mechanism of individual companies. To examine the impact of donations on a company in relation to the level of corporate governance, we estimated regression models using the interaction terms of the governance dummy and donation variables. Then, we further estimated the regression models of two sub-samples that were classified according to the level of corporate governance. Similar to previous studies, the study uses variables that affect firm value, such as R&D expenditure, advertising expenses, EBITDA, debt-to-equity ratio, sales growth, company age, and company size as control variables. Results - The empirical results show that firm value significantly increased in response to an increase in donation expenses. Upon including the interaction terms of governance level dummy variables and donations, the coefficients of the interaction terms show significant positive values, while those of donation variables show significant negative values. In the strong governance sub-sample, the relationship between the donation expenses and corporate value was statistically positive (+) and significant. However, in the weak governance sub-sample, the relationship between the donation expenses and corporate value was statistically insignificant and negative (-). Conclusions - The empirical results suggest that donation expenses are significantly linked to an enhanced corporate value if firms have a good corporate governance structure. However, if the corporate governance structure is weak, the same relationship is not necessarily observed. The results of this study show that if a firm has high corporate governance, CSR practices enhance the company's reputation such that it has a positive (+) relationship with corporate value. If a firm has weak corporate governance, on the other hand, CSR practices are recognized as an agency cost and do not increase corporate value.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.22 no.3
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• pp.585-600
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• 2012

Security issues in online games are increasing as the online game industry grows. Real money trading (RMT) by online game users has become a security issue in several countries including Korea because RMT is related to criminal activities such as money laundering or tax evasion. RMT-related activities are done by professional work forces, namely gold-farmers, and many of them employ the automated program, bot, to gain cyber asset in a quick and efficient way. Online game companies try to prevent the activities of gold-farmers using game bots detection algorithm and block their accounts or IP addresses. However, game bot detection algorithm can detect a part of gold-farmer's network and IP address blocking also can be detoured easily by using the virtual private server or IP spoofing. In this paper, we propose a method to detect gold-farmer groups by analyzing their connection patterns to the online game servers, particularly information on their routing and source locations. We verified that the proposed method can reveal gold-farmers' group effectively by analyzing real data from the famous MMORPG.

• Journal of the Korea Society of Computer and Information
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• v.20 no.5
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• pp.123-131
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• 2015

Bright development of information communication is caused by usabilities and another case to our society. That is, the surveillance which is unlimited to electronic equipment is becoming a transfiguration to a possible society, and there is case that was able to lay in another disasters if manage early error. Be what is living on at traps of surveillance through the Smart phones which a door of domicile is built, and the plane western part chaps, and we who live on in these societies are installed to several places, and closed-circuit cameras (CCTV-Closed Circuit Television) and individual use. On one hand, while the asset value which was special of enterprise for marketing to enterprise became while a collection was easily stored development of information communication and individual information, the early body which would collect illegally was increased, and affair actually very occurred related to this. An investigation agency is endeavored to be considered the digital trace that inquiry is happened by commission act to the how small extent which can take aim at a duty successful of the inquiry whether you can detect in this information society in order to look this up. Therefore, procedures to be essential now became while investigating affair that confiscation search regarding employment trace of a computer or the telephone which delinquent used was procedural, and decisive element became that dividing did success or failure of inquiry whether you can collect the act and deed which was these electronic enemy. By the way, at this time a lot of, in the investigation agencies the case which is performed comprehensively blooms attachment while rummaging, and attachment is trend apprehension to infringe discretion own arbitrary information rising. Therefore, a lot of nation is letting you come into being until language called exile 'cyber' while anxiety is exposed about comprehensive confiscation search of the former information which an investigation agency does. Will review whether or not there is to have to set up confiscation search ambit of electronic information at this respect how.