• Asia-Pacific Journal of Business
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• v.13 no.1
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• pp.103-123
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• 2022

Purpose - This study investigates the effects of earnings management, related party transactions between chaebol affiliates on earnings management and ESG score on their profitability using return on assets (ROA). Design/Methodology/Approach - We use data including ESG (Environmental, Social, and Corporate Governance) score of the Korea Corporate Governance Service(KCGS), and financial data of 10,145 firm-year observations from the Total Solution 2000 (TS 2000) and Korea Companies-Information Service (KOKOInfo), and apply the finite lagged models to investigate the long-term effects of related party transactions between chaebol affiliates of earnings management on ESG scores and corporate performance. Furthermore, to take into consideration the simultaneous mutual effects on each other of main variables, we introduce finite distributed lags of five years. Findings - First, ESG-rated firms have a higher total asset return than non-ESG-rated firms. Second, chaebol firms have a higher profitability than non-chaebol firms. Third, profit management of related party transactions between affiliates within a chaebol has a positive effect on the short-term profitability and a negative effect on the long-term profitability. Fourth, chaebol ESG firms have a lower impact on profitability due to rating up (down) than non-chaebol ESG firms. Research Implications or Originality - Based on the above results, it can be concluded that firms used related party transactions for earnings management, the effects of related party transactions change over time, and chaebol firms manipulate earnings through related party transactions and ESG scores.

• Asia-Pacific Journal of Business
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• v.13 no.1
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• pp.153-166
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• 2022

Purpose - ESG(Environmental, Social and Governance) rating is an indicator to predict the sustainable development and long-term value creation of enterprises, which is becoming more and more important. This study divided the ESG rating into each sector(E, S and G) to identify which ESG elements are effective in enhancing enterprise value according to the characteristics of the enterprise, which is different from previous studies. Design/methodology/approach - In this study, Bloomberg ESG Disclosure Score was used to empirically analyze the relationship between ESG ratings and corporate value by taking the listed companies of China's Shanghai Composite Index from 2017 to 2020 as the object. Findings - First, the relationship between ESG ratings and enterprise value shows a statistically significant positive correlation, which supports the results of previous studies. Second, the analysis results from the classification of ownership structure of enterprises (state-owned enterprises and non-state-owned enterprises) show that compared with state-owned enterprises, the ESG ratings of non-state-owned enterprises is more closely related to enterprise value. Third, the analysis of various industries (manufacturing and non-manufacturing) shows that compared with manufacturing, ESG scores of non-manufacturing has a more positive effect on enterprise value. Lastly, the analysis by industry type (heavy-contaminated companies, non-contaminated companies) confirmed that ESG scores of non-contaminated companies has a positive effect on corporate value than heavy-contaminated companies. Research implications or Originality - This study classified ESG evaluation grades(E, S and G) for listed companies in China and analyzed in detail how they affect corporate value according to corporate characteristics, drawing implications for what ESG indicators should be focused on to increase corporate value.

• Journal of Korea Trade
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• v.27 no.1
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• pp.1-18
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• 2023

Purpose - Using a sample of Korean multinational corporations, we examine whether the relationship between tax risk and the implied cost of capital discriminates between the environmental, social, and corporate governance (ESG) of highly rated firms. Design/methodology - Firms with high tax risks have an increased uncertainty of future cash flows. Therefore, as the volatility of future cash flow increases, information asymmetry and the required return increases. Highly rated ESG firms can reduce information asymmetry, thereby weakening the positive relationship between tax risk and cost of capital. We employ the standard deviation of the cash effective tax rate as proxy of tax risk. We utilize the ESG rating data of the Korea Corporate Governance Service (KCGS). We use a PEG model, MPEG model, and GM model to measure the implied cost of capital. Findings - We find a positive association between the implied cost of capital and tax risk. The positive relationship between tax risk and the implied cost of capital weakens in highly rated ESG firms. Highly rated ESG firms prefer a stable tax position to invest after-tax cash flows into sustainable management. Therefore, the negative effects of tax risk on cost of capital can be reduced. Originality/value - This study provides empirical evidence that ESG activities can mitigate the negative impact of tax risk on the cost of capital for Korean multinational corporations. In a business environment where ESG activities are more important, the empirical results that ESG activities can reduce the corporate risk of Korean FDI companies are expected to provide implications for the ESG activities of multinational corporations.

• The Journal of the Convergence on Culture Technology
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• v.9 no.3
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• pp.159-166
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• 2023

Humanities are as crucial as the technology itself in the intelligent information society. Human-centered convergence information technology (IT), which reflects emotional and human nature, can be considered a unique technology with an optimistic outlook in the unpredictable future. Based on this research background, this paper proposed an education model that can improve the IT humanities capabilities of various learners, including elementary and secondary students, prospective teachers, incumbent teachers, school managers, and the general public, through analysis of previous studies on convergence education models. Furthermore, the practical aspects of the proposed model were closely examined so that the proposed education model could be stably incorporated and utilized in the educational field. There are seven strategies for implementing the education model proposed in this paper, including research on textbooks, teaching and learning materials, activation of research results, maker space creation, global joint research, online education operation, developing living lab governance, and diversification of self-sustaining platforms for sustainable and practical education. In the future, validity verification through expert Delphi is required as a follow-up study.

• Journal of Korean Society of Archives and Records Management
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• v.18 no.1
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• pp.129-154
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• 2018

It is time to prepare for the imminent development from the field of records management through decentralization to the records management of the new age in accordance with the flow of decentralization. To overcome a centralized record management system, more archives should be established to realize autonomous and decentralized records management. In accordance with the shift to a full-scale electronic record management environment, the appropriateness and effectiveness of the three-phase system of processing-archival-permanent record management based on physical transfer should be reviewed in terms of transfer cost and work efficiency. The archives should function as institutional archives to carry out the continuous volume record management and the autonomous record management at the institution level. This study examined the possibilities and implications of the archives to expand their functions as archives of institutions for the decentralization of record management and information governance orientation. In addition, the study diversified the types of records management institutions as a way to accomplish this and determined a way to design the functions of archives that integrate the current-end-end-end records management. At each level, institutions should set up archives based on their circumstances and aim at information governance at the level of each archive. Moreover, each archive level should establish a horizontal network to govern record information management.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.1
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• pp.367-373
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• 2016

The construction of National Spatial Data Infrastructure (NSDI) started from 2008 and was completed at 2012, with the aim of co-utilizing public agencies' national spatial information by integrating and linking. Despite the existence of the NSDI, an update of spatial data is not fully reflected because the spatial information has not been updated simultaneously by NSDI and public agencies. By examining the public agencies' services using the spatial information, a national budget is wasted because the re-usable similar services are duplicated. These issues could be solved by adopting a cloud system, whose concept is co-utilizing IT resources, to the NSDI. This study examined the service cloud based expansion and development plan for NSDI. The plan included an implementation strategy for a spatial information service cloud system and an establishment plan for a governance system. The service scenarios, concept diagram, and service functions for the system were derived in a system implementation plan. For the service functions, the unit functions of two modules were proposed and specific functions were derived. In the establishment of a governance system, the business roles and business processes were defined for organizations managing service cloud based NSDI. The business role and process were defined and derived by each service life-cycle step. With the proposed system implementation plan, a detail system design and composition of the organization could be possible, and a service cloud-based NSDI system could be implemented.

• Journal of the Society of Disaster Information
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• v.19 no.3
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• pp.562-571
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• 2023

Purpose: This study aims to provide a direction for restructuring resilient waterfront spaces, emphasizing the severity of water-related disasters and the significance of developing responsive urban strategies. Method: To achieve this objective, the study analyzes overseas planning and design cases based on the theoretical framework of urban resilience. The goal is to identify physical and social systemic design elements that can be applied to waterfront space planning and design of Korea. Result: The proposals from the Resilient by Design Callenge included strategies for enhancing social systems and promoting sustainability in a more systematic manner. Additionally, various physical design strategies and technologies were identified in the Sponge City projects, which aim to create a flexible urban waterfront space. Conclusion: When planning and designing Korean waterfront spaces to effectively respond to disasters, several elements should be considered, such as enhancing educational functions, expanding local resident participation, establishing a governance system, developing systematic sustainable plans, adopting ecological approaches, and implementing various low-impact development techniques.

• Korean Institute of Interior Design Journal
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• v.22 no.6
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• pp.162-172
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• 2013

This study focuses on the genealogical analysis of the urban public spaces by the local history of Seoul which is significantly different from western cities. The analysis targets the discourse of the urban street which defines urban space-structure among the urban public spaces. Based on the analysis, we define the progress levels of urban public design policy in Seoul. Firstly, in 1960's and 1970's, 'urban reconstruction' was intensively carried out for the country modernization, and 'vehicle preferred street expansion' resulted in damages to historical inheritance, in-humanized street, and cultural uniformity. 1980's and 1990's would be defined as 'politic acceptance of plural values to the urban street.' There were the Olympic Games held in Seoul in 1988, which were the celebrations of the 600th capital establishment and the autonomous local government system. In the meanwhile, diverse values on the urban street were discussed in terms of globalization. There also were the self-reflection for the urban skyscrapers and high-population rate, the cultural uniformity of urban street, and the commercialization in downtown with urban reconstruction plans. Then, the sense of landscape and amenity was focused. Various urban projects and regulations were held according to the changes of value recognition. 2000's can be defined as 'introduction to the organic integration and the urban public design governance.' In the 21st century, types of recognition have changed significantly, which include publicness, humanism, sustainability, symbolism, artistry, placeness, and communication. They cause the establishment of ordinances and the installation of integrated organization via urban design administration. The legislation has been revised in order to support the various methods for the maintenance and operation of urban landscape in terms of local characteristics. New regulations were established for residents to participate in the processes of the urban planning with street design policy.

• Journal of Distribution Science
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• v.14 no.1
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• pp.29-38
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• 2016

Purpose - The purpose of paper is to review and look into the process of port development of each country, and compare with their system of port management. Research design, data and methodology - The methods to be taken is to examine a process of port development in terms of historic and regulated point of views, and each country's port is compared with various port models. Results - China has evolved of port governance into 3 stages, which has lead to almost liberalized port management system in process of privatization slogan. Japan has three stages of port development, and key commitments have been done by local government, rather than national one. Korea has also several stages of port reforms, and national government has been deeply involved in port industry, as well as regional government and port authority in certain areas. Conclusions - whatever port management system each countries has taken, it eventually aims to port productivity in country's port. To adopt most proper port management system may be answer for country to cope with environmental changes around port industry.

• Asian Journal of Business Environment
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• v.6 no.1
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• pp.19-24
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• 2016

Purpose - This paper aims to find and analyze factors that determine the flows of bilateral foreign direct investment in intra-ASEAN. It specifically focuses on the dimension of macro-economic, natural resources, human resources, and the quality of governance. Research design, data, and methodology - Data were collected from 64 bilateral relations between ASEAN nations from 2002 to 2013. Panel gravity model was utilized to find factors that determine the flows of bilateral foreign direct investment. Results - Significant factors were identified that determine the flows of bilateral foreign direct investment: GDP home country, GDP host country, real interest rate, distance, and total natural resources rent. Unexpectedly, natural resources have a negative effect. Conclusions - In a situation of increasing the flow of FDI among the countries of ASEAN, the government should control the interest rates and maintain good relations with nearby countries. The negative effect of total natural resource rents implies that ASEAN countries should not depend on their natural resources to attract foreign investments.