• KDI Journal of Economic Policy
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• v.32 no.3
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• pp.1-32
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• 2010

The global financial crisis has exerted enormous impacts on the attainment of inflation target in Korea. The annual average CPI inflation was 3.3% during the targeting period of 2007-2009 and the target was $3.0{\pm}0.5%$. Thus Korea has succeeded in keeping annual average CPI inflation just below the upper limit of the 2007-2009 target under the global crisis. This paper intends to evaluate the performance of the inflation targeting system in Korea. First, it estimates the conventional call rate reaction equation under the global crisis and finds that the policy interest rates never reacted to expected inflation, output gap, and won/dollar exchange rate, as expected by theory. Second, it identifies the shock of global financial crisis into core and non-core, applying the structural VAR model. The core shock was defined to have no (medium- to) long-run impact on real output. The core shock was identified to have the character of the demand shock, since it has the positive impact on the inflation and output in the short run. The structural core inflation due to core shock was an attractor of headline inflation, not vice versa. Therefore, the structural core inflation that reflects the demand-side shock would be the better intermediate target for the final headline inflation target than the official core inflation that excludes the volatile inflation of agricultural and oil-related products. During the inflation targeting period of 2007-2009, the structural core inflation was more volatile than the official core inflation, because the global crisis has very large negative impacts on the domestic demand as well as the prices of agricultural and oil-related products. This paper shows that the negative core shock during the fourth quarter of 2008 was larger than that in the financial crisis in 1998. But the core shock turned into positive very quickly in 2009, as the Korean economy recovered very quickly from crisis. The volatile changes in structural core inflation suggests that the Bank of Korea barely managed to attain the 2007-2009 inflation target, owing to the very large negative impacts of the global financial crisis on the domestic demand. It also suggests that the rapid rise in core inflation with the rapid recovery of the Korean economy will lead to rapid rise in headline inflation.

• The Journal of the Convergence on Culture Technology
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• v.4 no.2
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• pp.61-67
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• 2018

The purpose of this paper is to explore the educational direction and present improvements of the local college of engineering through the business feasibility and analysis of the universities that conducted financial support projects to improve engineering education. For this study, we analyzed a three-year of survey on the business satisfaction of the university that implemented aid for innovation in engineering education. A result of statistical analysis on the performance of the education programs and operations that performed by the participants in the project shows that the overall satisfaction rate of the support projects has increased from 73.8% to 83.4%, but the average rate of the related industries has relatively decreased. The research shows that the satisfaction level of creativity and problem-solving ability of new employees in task performance was low so that the overall satisfaction level of the business decreased. We are going to come up with improvement plan to develop creative problem solving skills through the design of program for engineering education innovation in the future.

• Journal of Environmental Impact Assessment
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• v.18 no.5
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• pp.257-270
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• 2009

The central government in Korea has pursued a policy to privatize municipal solid waste treatment facilities in order to enhance the effectiveness of public financial management in recent years. To understand the intentions of local governments on this policy, the survey with questionnaires on 37 out of 256 local governments was made in October, 2007. The results were analyzed and compared in 6 classified policy areas. The results showed that local government had enough financial status to operate the facilities with proper services and had the opinion with positive management in finance with increasing rate of prospective views. Among the facilities operated by local governments, the satisfaction levels for landfill(46.2%) and incineration(40.0%) were relatively higher. However those for recycling and food waste resource facilities were not satisfied with showing lower rate of satisfaction. The priority of privatization in consideration among them were following in order of food waste resource plants(76.2%), incinerators(63.6%), and recycling facilities(53.9%) and the most considerable reason to privatize them was due to resolve financial problems(59.7%). They thought and expected that the privatization would provide cost reduction effects in local governments and also be easier to achieve the environmental goals. To enhance such privatization, expanding more incentives by central government would be essential as shown in the investigation of this survey.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.27 no.3
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• pp.449-457
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• 2017

In this paper, we analyze the security and performance of the Quantis Quantum random number generator in terms of cryptography through experiments. The Quantis' post-processing is designed to output full-entropy via bit-matrix-vector multiplication based on mathematical background, and we used the min-entropy estimating test of NIST SP 800-90B so as to verify whether the output is full-entropy. Quantis minimizes the effect on the random bit rate by using an optimization technique for bit-matrix-vector multiplication, and compared the performance to conditioning functions of NIST SP 800-90B by measuring the random bit rate. Also, we have distinguished what is in Quantis' post-processing to the standard model of NIST in USA and BSI in Germany, and in case of applying Quantis to cryptographic systems in accordance with the CMVP standard, it is recommended to use the output of Quantis as the seed of the approved DRBG.

• 사회경제평론
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• v.31 no.2
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• pp.71-104
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• 2018

The purpose of this study is to reveal the significance of regional loan-to-deposit ratio and local banks through Post-Keynesian endogenous monetary theory. According to endogenous monetary theory, banks, rather than financial intermediaries, are credit creation agencies that create deposit money through loans. On the other hand, according to the existing view which interprets bank as a financial intermediary, it is seen that the higher the loan-to-deposit ratio of the deposit bank in a region, the more active the lending activity based on the deposit inflow. However, according to the endogenous monetary theory, the loan-to-deposit rate is reinterpreted as an indicator of regional balance. Especially, relatively high lending-to-deposit rate of a region is interpreted as follows: money circulation in the region is shrinking due to the outflow of deposits created through loans in the region. In addition, when considering the local based financial practices of local banks, their ability to create credit, and their impact on the real economy, it is necessary to positively review the local bank restructuring policy from the perspective of balanced regional development.

• Journal of Digital Convergence
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• v.19 no.4
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• pp.39-48
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• 2021

The retirement pension is one of the security systems for retirement income. In Korea, since 2016, companies with 300 or more employees are obligated to introduce retirement pensions, so the rate of introduction of retirement pensions by large companies is high, but the rate of introduction of small and medium-sized enterprise(SME) is very low. This study aims to suggest a direction for the government's policy establishment to introduction of a retirement pension plan by looking at what financial attributes affect the intention to introduction of retirement pension plan. As a result of the analysis, it was found that among the financial attributes, Return on Sales in the positive (+) direction and Equity Capital Ratio in the negative (-) direction were significant factors influencing the intention to introduce a SME retirement pension. Accordingly, the government policy to induce the introduction of the retirement pension for SMEs needs to be implemented in stages with priority to SMEs with large Return on Sales and Equity Capital Ratio.

• Health Policy and Management
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• v.17 no.1
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• pp.1-27
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• 2007

This study is designed to estimate an appropriate level of patient's cost-sharing for oriental medical services in the Korean National Health Insurance. The findings of this study can be summarized as follows: 1) The current co-payment system for oriental medical services does not reflect its cost structure in clinical practice due to inconsistency of cost-sharing plan in the NHI. 2) Both oriental medical institutions and their patients, as a result, are at a relative disadvantage in financial burden, compared with other services. 3) The substantial proportion of patients' cost-sharing depends on the amount of co-payment and the range of medical cost that a flat rate is applied to. 4) The extension of the range doesn't make any substantial decrease in patient's cost-sharing. 5) The fixed amount of co-payment is more sensitive than a range to total variations of patient's cost-sharing. Based on the above, the budget impacts of a new co-payment system were estimated for each co-insurance rate, according to given scenarios. The results range from -59 billion Won (-8.5%) to 16 billion Won(2.3%).

• Journal of the Korean Institute of Electrical and Electronic Material Engineers
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• v.27 no.5
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• pp.328-341
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• 2014

The object of this paper is to develop optimal optical filter, which can be used to identify the financial account and read the information. The five factors which affect the performance of the optical filter are identified as optical glass type, existence of Fe, Photo pic coating type, and coating form. In this study we seek to determine the optimal combination for the best design of the optical filter. For each combination, the performances of optical filter are investigated using the proper experimental equipments and methods. White-state voltage, black-state voltage, and black-state error rate are used for the performance measures. Through the statistical analysis of the performance data collected, we have determined the optimal design of the optical filter.

• Journal of Korea Technology Innovation Society
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• v.9 no.2
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• pp.304-324
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• 2006

There were considerable researches by finance people trying to find out business ratios as predictors of corporate bankruptcy. However, such financial ratios usually lack theoretical justification to predict bankruptcy for technology-oriented small sized venture firms. This study proposes a bankruptcy predictive discriminant model using technology evaluation data instead of financial data, evaluates the model fit by the correct classification rate, cross-validation method and M-P-P method. The results indicate that linear discriminant model was found to be more appropriate model than the logistic discriminant model and 69% of original grouped data were correctly classified while 67% of future data were expected to be classified correctly.

• Journal of Information Technology Services
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• v.16 no.4
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• pp.47-64
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• 2017

Three years after establishment, companies are said to face a period of risk called the "valley of death." To start a venture company and make it sustainable, the chance of failure must be minimized. According to an in-depth assessment report on special taxation in 2015, the one-year survival rate of Korean companies was about 60 percent and the five-year survival rate about 30%. These rates are low compared to those of major OECD member countries. Worse, such rates in Korea are decreasing year by year. The purpose of this study is to classify the success factors behind venture companies into human capital, social capital and financial capital, and verify through empirical analysis the factors influencing the success of venture companies based on the mediating roles of capability of the startup team and that for innovation. To find the success factors behind venture companies, this study first examined the theories derived from previous studies. SPSS 21 was used as the study method, while descriptive statistics, exploratory factor analysis and CMB test were conducted. In addition, SmartPLS 2 was used for confirmatory factor analysis, hypothesis test, mediation effect. The results of this study can help efforts toward job creation and economic revitalization pursued by the creative economy policy of the incumbent Korean administration. They can also be used as the cornerstone for venture companies in their pursuit of success.