• Title/Summary/Keyword: Financial Services Industry

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A Comparative Study on the Korean Type Regulatory Sandbox System : the Industrial Fusion Promotion Act, the Information and Communication Convergence Act, the Financial Innovation Act, A Study on the Regional Special Districts Act (한국형 규제 샌드박스 제도에 대한 비교분석 연구 : 산업융합촉진법, 정보통신융합법, 금융혁신법, 지역특구법을 중심으로)

  • Choi, Ho-Sung;Kim, Jung-Dae
    • Journal of Digital Convergence
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    • v.17 no.3
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    • pp.73-78
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    • 2019
  • Recently, there is a need to introduce a Korean-style restriction sandbox system that exempts or suspends existing regulations so that new products or services based on new technologies can be commercialized without restrictions. In response, the government reorganized the relevant statutes to promptly check regulations centering on four fields, including industrial convergence, ICT, FinTech, and regional innovation growth, and to allow experimental, proof and market releases by setting certain conditions(zone, period, scale, etc.). However, despite the same regulatory sandbox application, depending on the nature of the field applied, differences in application subject, whether application of regulatory specifics, system of push ahead decision-making and whether support of financial and taxation are shown. This research is intended to present efficient operation measures for successful settling of Korean-style regulation sandboxes by comparing and analyzing, centering on the Industrial Fusion Promotion Act in the Industrial Convergence Field, ICT field's Information and Communication Convergence Act, FinTech field's Financial Innovation Act and Regional Special Zone Act in the Regional Innovation and Growth Sector.

A Design of Smart Fuzzing System Based on Hybrid Analysis (하이브리드 분석 기반의 스마트 퍼징 시스템 설계)

  • Kim, Mansik;Kang, Jungho;Jun, Moon-seog
    • Journal of Digital Convergence
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    • v.15 no.3
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    • pp.175-180
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    • 2017
  • In accordance with the development of IT industry worldwide, software industry has also grown tremendously, and it is exerting influence on the general society starting from daily life to financial organizations and public institutions. However, various security threats that can inflict serious threat to provided services in proportion to the growing software industry, have also greatly increased. In this thesis, we suggest a smart fuzzing system combined with black box and white box testing that can effectively detectxdistinguish software vulnerability which take up a large portion of the security incidents in application programs.

The Effect of New Revenue Recognition Standard on Telecom Firms' Financial Reporting : Focusing on Regulatory Accounting (새로운 수익인식기준이 통신사업자의 재무보고에 미치는 영향 : 규제회계를 중심으로)

  • Chon, Mi-Lim;Jung, Jin-Hyang;Lee, Tae-Hee
    • Journal of Digital Convergence
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    • v.17 no.11
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    • pp.163-170
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    • 2019
  • A new revenue recognition standard was adopted in 2018. The purpose of this paper is to analyse how K-IFRS 1115 'Revenue from Contracts with Customers' affects the revenue recognition of the telecommunication firms and to suggest a regulatory policy for the telecommunications industry. It shows identifying performance obligations for bundles, determining the transaction price and allocating the transaction price to the performance obligation and how to account for it using case study. The most important change in the telecommunication companies's revenue is to allocate the transaction price to two performance obligations: telecom services and mobile handset sales. As a result, sales revenue are expected to drop en masse. This study provides important implications for the regulatory accounting policy of the telecommunications industry.

Dynamic Shift-Share Analysis of FDI Inflow into Korea: Comparison to Developed Countries (동태적 변이-할당분석을 이용한 대한(對韓) 외국인직접투자 유입요인 분석: 선진국과의 비교)

  • Sohn, Jung-Soo;Cho, Jungran;Lee, Sanghack
    • International Area Studies Review
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    • v.18 no.3
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    • pp.23-46
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    • 2014
  • Applying the dynamic shift-share analysis, this paper decomposes inflow of foreign direct investment (FDI) of Korea for the period of 2003-2012 into three components: world growth effect, industry-mix effect and competitive effect. Taking the group of developed countries as population for comparison, this paper finds that Korea has been lagging behind the group of developed countries in attracting FDIs, thereby having recorded negative aggregate industry-mix effects and negative aggregate competitive effects as well. However, the following industries have recorded positive competitive effects: textiles, chemicals, electrical and electronic equipment, motor vehicles and other transport equipment, hotels and restaurants and business services. Moreover, in the sub-period of 2008-2012, positive competitive effects have been recorded for most manufacturing industries. This reflects the fact that inward FDI into Korea has not been affected much by the financial crisis of 2009.

CONSTRUCTION FINANCING AND INDUSTRY DEVELOPMENT

  • Yat-Hung, Chiang
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.962-969
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    • 2009
  • The market of building construction has been competitive in Hong Kong, perhaps as anywhere else in the world. The barrier to entry is low because there are relatively low requirements on the three factors of production - technology, manpower and finance. The prevailing building technology is traditional and labour-intensive. There is also not much need of capital because clients' periodic payments have been the main source of project finance. Further, capitalizing on trade sub-contracting, contractors have been able to keep their direct labour-force small and to transfer much of their business risk to the sub-contractors. Based on interviews to solicit the perception of a sample of building contractors on the particular issues of construction finance, we present the findings in this paper and discuss the various implications. We believe that the current practice of construction financing is both the cause and effect of the competition within, and the competitiveness of, the building construction sector in Hong Kong. We conclude that the building construction sector is "locked or stuck" in this "equilibrium" of traditional technology, reliance on clients' finance and exploitation of sub-contracting. In this "equilibrium" state, there is hardly any motivation for contractors to engage themselves in product or process innovation. Consequently, any talk of industry reform or innovation could only remain just that. We believe that this problem is not unique in Hong Kong. The building construction sector in many other developed and developing economies is posed with similar if not the same problems and constraints. We conclude that there has to be some "external forces" to bring this "equilibrium" state to a higher level "equilibrium" one where higher value-added building construction services are supplied and demanded. This is a state where building contractors possessing innovative technology, better financial and manpower resources could thrive to build better buildings with innovative building methods and processes.

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Current Status and Policy Issues of Collaborations between Universities and Family Companies in Korea (대학과 가족회사의 산학협력 실태 및 활성화 방안)

  • Lee, Jong-Ho;Jang, Hoo-Eun
    • Journal of the Economic Geographical Society of Korea
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    • v.23 no.1
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    • pp.71-81
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    • 2020
  • Family companies are the unique industry-academic cooperation-related systems of Korean universities created by universities to promote various forms of industry-academic cooperation with companies. It is important to figure out the current status of family companies in order to understand the achievements of industrial-academic cooperation projects that have been actively pursued since the early 2000s. A lot of studies on industry-academic cooperation have focused mainly on the university's position. On the contrary, this study focuses on understanding the current status of the family company system and the status of industry-academic cooperation. Introduced in 2004, the Family Company System expanded rapidly as it was used as a performance indicator for college financial support projects related to industry-academic cooperation, with 174,425 companies registered as family companies as of 2017. A survey of family companies registered in universities carrying out the LINC+ project shows that companies registered in multiple universities are increasing, with relatively high demand and satisfaction for industry-academic cooperation among companies. Family companies were found to be relatively satisfied in terms of the use of R&D equipment or joint research, while they were relatively less satisfied in terms of workforce training and retraining. While companies have assessed product quality improvements through industry-academic cooperation, they have underestimated the effect of increasing sales and reducing production costs. Further, it was found that it was urgent to expand incentive systems and improve online information services to boost corporate participation in order to enhance the effectiveness of industry-academic cooperation.

Analysis on the Ripple and Investment Effect of Digital Bio-Healthcare Industry : Using Input-Output Tables 2019 (디지털바이오헬스케어(Digital Bio-Healthcare)산업의 파급효과 및 투자효과 분석 : 2019년 산업연관표를 중심으로)

  • Jang, Pilho;Kim, Yonghwan;Lee, Changwoon;Jun, Sungkyu;Jung, Myungjin
    • Journal of Internet Computing and Services
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    • v.21 no.3
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    • pp.71-81
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    • 2020
  • The digital bio-healthcare industry is one of the three major fostering industries of the Korean Moon Jae-In government. The purpose of this study is to compare and analyze the ripple effect and investment effect in digital bio-healthcare industry. Analyzing the ripple effects of the digital bio-healthcare industry is very important to induce policies on industry and technology development. First, the research methods were reclassified into 33 industries in the standard industry classification and rewritten into 35 industry classification tables. Second, various trigger coefficients and ripple effects coefficients were rewritten by the analysis framework of the industrial association table. Third, we compared the ripple effects of related industries in the production, investment, value-added and jobs sectors of the digital bio-healthcare industry. Finally, in terms of investment effects, the effects of in-house and related industries were compared. The result of this study would be helpful in the establishment of industrial policy and technology development policy.

Improving the Competitiveness of Exporting Enterprises: A Case of Kien Giang Province in Vietnam

  • NGUYEN, Minh Tuan;KHOA, Bui Thanh
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.6
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    • pp.495-508
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    • 2020
  • Economic integration is an indispensable trend in all countries. However, besides the advantages that economic integration brings, there are also disadvantages, such as competition between businesses among states in export activities. Vietnam is a developing country with many advantages, especially, the seafood exporting industry. However, with competitive pressure as well as strategic constraints, Vietnamese seafood exporters still face many difficulties. Therefore, the case study of the Kien Giang province of Vietnam is used to analyze the factors affecting the competitiveness of seafood exporting enterprises. The study applied quantitative research methods with a survey of 350 seafood exporting enterprises in Kien Giang province to achieve the research objectives. The research results identified eleven key factors affecting the competitiveness of seafood exporting enterprises, including (1) vision and strategy of leader; (2) human resources management capability; (3) organization capability; (4) customer-responsive marketing capability; (5) relationship management capability; (6) technical capability; (7) competitors reaction capability; (8) business environment adoption capability; (9) financial capability; (10) products and services innovation capability; and (11) branding management. The research results provided the basis to propose some managerial implications to improve the competitiveness of exporting enterprises in the context of the global economic integration.

The Role of Overconfident CEO to Dividend Policy in Industrial Enterprises

  • HOANG, Lam Xuan;DANG, Duong Quy;TRAN, Thuan Duc
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.7
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    • pp.361-367
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    • 2020
  • Researching the influence and role of CEO overconfidence to dividend policy is important for stock market investors. Therefore, this study was conducted to find out the relationship between CEO overconfidence and dividend policy in industrial enterprises in Vietnam. Data collected from 222 industry enterprises listed on the Vietnam Stock Exchange from 2012 to 2018. Data is collected on financial statements of listed companies. GLS model with panel data is used to analyze regression results. The results show that CEO overconfidence has dividend yield higher than CEO non-overconfidence. At the same time, the dividend payout ratio of enterprises has no difference between CEO overconfidence and CEO non-overconfidence. The results also showed that revenue growth has a positive impact on dividend yield in small enterprises, but negative impact on dividend payout in large enterprises. Research results by firm size have similar results with the general analysis for all enterprises. At the same time, the analysis of ownership type shows that CEO overconfidence has a positive impact on dividend yield of non-state enterprises without affecting other types of enterprises. From these results, the authors also made a number of recommendations to help investors choose businesses to invest in accordance with their strategies.

Analysis of Foodservice Quality Management in Korean Welfare Institutions for the Homeless (한국 부랑인 복지시설의 급식품질관리 분석)

  • Lee, Jin-Mi
    • Journal of the Korean Dietetic Association
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    • v.8 no.3
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    • pp.318-327
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    • 2002
  • The purposes of this study were to: a) examine charateristics of foodservice manaegment practices; b) investigate characteristics of recipients; c) analyze foodservice systems; and d) provide feedback for the efficient and effective foodservice management of welfare institutions for the homeless in Korea. A total of 27 sites was analyzed by questionnaire survey. Satatistical data analysis was completed using the SPSS package program for descriptive analysis. As results of site recipients' characteristics, 69% of total sites were males and 31% were female recipients. Average 60% of recipients were from 30 to 50 years old. Major diseases of recipients were high pressure, and obesity. According to the result of foodservice system analysis, the average meal cost per day was about 2,943 won and average food cost percentage was 29%. Average number of meals per day was about 600 meals. Mostl sites had one dietitian and 48.1% of sites had one cook as a full-time employee. In the part of procurement, dietitians were major chargers of sites for purchasing foods. Major purchasing method was the order and delivery contract. About a half of sites used cycle menu system and standardized recipies. Most of sites had recipients' survey systems for evaluating meal satisfaction. Dietitians at sites had problems on lack of cooking professionals and low meal cost budget for providing higher quality of foods to cure recipients. The results suggested that financial and systematical supports by the government would be very necessary to meet the goal of nutritional balanced meal services.

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