• KDI Journal of Economic Policy
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• v.32 no.2
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• pp.171-216
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• 2010

With the payment and settlement systems becoming more and more complex and interconnected, the issue of their interdependency rises as an important academic issue as well as a policy topic. This study examines causes, forms, and risk management of interdependencies of payment and settlement systems in Korea, and presents their current situation. By way of simulations using BOF-PSS2 developed by the Bank of Finland, we quantify the effects of an operational disruption on the payment and settlement systems so as to figure out the degree of interdependency. As a result, the secondary round effect reaches up to ￦13.6 trillion a day, which amounts to 7.8% of the daily settlement value. Furthermore, if we also consider the amount of direct operational disruption, the volume of operational disruption occupies 22.3% of total value of the daily settlement, evidencing that the interdependencies of the payment and settlement systems in Korea is enormously widespread. The secondary round effects are found to be more severe with security companies rather than with banks, and to be more depended upon when it is perceived rather than it actually happens. In case that we expand the liquidity to include cash holdings and deposits as assets, the secondary round effect dramatically decreases in all types of financial institutions while foreign banks account for more share of all the secondary round effects increases. Based on these results, we suggest various policy tasks and directions to improve the risk management of settlement systems: expansion of off-setting settlements, introduction of a new settlement system for securities transactions, rapid provision of liquidity to financial institutions, more effective monitoring on participant institutions, and intensified information sharing and cooperation among the systems.

• Management & Information Systems Review
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• v.37 no.3
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• pp.1-25
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• 2018

This research performed the empirical test for the effects of learning transfer on perceived usefulness, perceived ease of use, self-efficacy and work environment using 390 employees who have experienced e-learning in domestic and foreign companies. Analyzed the mediating effects of self-efficacy and work environment in addition to direct effect of each factor on learning transfer. The results showed that perceived usefulness and perceived ease-of-use of e-learning learner had a positive(＋) effect on self-efficacy and a positive influence on supervisor and peer support and organizational climate. Self-efficacy showed a positive effect on learning transfer, and supervisor support, peer support and organizational climate had a positive influence on learning transfer as well. Perceived usefulness also had a positive effect on learning transfer. However, perceived ease-of-use had no significant effect on learning transfer. As a result of the mediating effect analysis, self-efficacy and work environment were analyzed to have mediating effects between perceived usefulness, perceived ease of use, and learning transfer. The implications of this study are as follows. First, this study designed a new research model that reflects factors influencing the effect of learning transfer on acceptance of e-learning that is common in corporate education. It has derived a research model of perceived usefulness and perceived ease-of-use, which were used as mediating variables for external characteristics factors, as independent variables, using self-efficacy and work environment as mediating variables, which were studied as external factors. Second, most of the studies on technology acceptance model and learning transfer are conducted in a single country. The reliability was enhanced by testing the study models using different samples from 26 countries. Third, perceived usefulness and ease-of-use in existing studies have been considered as key determinants of acceptance intention and learning transfer. This study explored the mediating effects of learner and environmental factors on the accepted information technology and strengthened and supplemented the path of learning transfer of perceived usefulness and ease-of-use. In addition, based on the sample analysis of various countries used in this study, it is expected that future international comparative studies will be possible.

• Korean journal of communication and information
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• v.46
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• pp.511-555
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• 2009

Media-related regulations can be classified into two categories; regulations of individual media contents and regulations regarding the entry to and withdrawal from a certain field. In this dissertation, ownership regulations are regarded as legal and political measures so as to prevent the monopoly and oligopoly of public opinion, and to secure its diversity. Every country has its own regulation model according to its particular media environment. Korea too is obliged to actively respond to its environmental changes, at the same time vitalizing the media industry and protecting consumers' rights and interests. Strong political intentions to protect the public interest is necessary when it comes to media regulation policies, especially in the circumstances that public interest is an industrial priority. As the convergence of broadcasting and telecommunications is leading to a major shift in the media industry, the regulation of cross-media ownership is an issue involving potential conflicts among media-owners, non-governmental organizations and the authorities concerned, depending on their various viewpoints regarding the media industry. In this paper, an attempt was made to search necessity of redefining 'public interest', which is the logic behind the restriction of cross-media ownership, and to reconceptualize issues on the centralization and diversity of media. First, an examination of the actual conditions of newspaper companies was carried out in order to reinvestigate domestic cross-media ownership issues, which is represented by the cross-ownership issue of newspapers and broadcasting stations. Next, the dilemma of policies stimulated by the fusion of media was discussed based on cross-media ownership restrictions, and the need for efficient conflict control was suggested. Finally, proposals on the independency and public confidence of media-related policy-making authorities, the rationalization of regulation models, an itemized discussion on cross-media ownership regulation issues, the elaboration of measures for a balanced development among media were made. It could be found that a number of foreign countries were still facing challenges to prevent monopoly and oligopoly of the public opinion and the industry. A solution to settle disagreements about the dilemma of the media industry, including the cross-media ownership regulation issues, must be arranged on the grounds of 'mutual respect of public interest and industrial interest', In Korea, an ease on the ownership regulations adapting to the change in the media industry may be considered, however the softening of the cross-media ownership regulations must be approached with the utmost care. Paradoxically Relieving cross-media ownership regulations may be considered the foundation of a richer field of journalism, where there is no need for concern over the monopoly and oligopoly of public opinion.

• Journal of Intelligence and Information Systems
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• v.16 no.4
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• pp.131-145
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• 2010

The framework for making a coordinated decision for large-scale facilities has become an important issue in supply chain(SC) management research. The competitive business environment requires companies to continuously search for the ways to achieve high efficiency and lower operational costs. In the areas of production/distribution planning, many researchers and practitioners have developedand evaluated the deterministic models to coordinate important and interrelated logistic decisions such as capacity management, inventory allocation, and vehicle routing. They initially have investigated the various process of SC separately and later become more interested in such problems encompassing the whole SC system. The accurate quotation of ATP(Available-To-Promise) plays a very important role in enhancing customer satisfaction and fill rate maximization. The complexity for intelligent manufacturing system, which includes all the linkages among procurement, production, and distribution, makes the accurate quotation of ATP be a quite difficult job. In addition to, many researchers assumed ATP model with integer time. However, in industry practices, integer times are very rare and the model developed using integer times is therefore approximating the real system. Various alternative models for an ATP system with time lags have been developed and evaluated. In most cases, these models have assumed that the time lags are integer multiples of a unit time grid. However, integer time lags are very rare in practices, and therefore models developed using integer time lags only approximate real systems. The differences occurring by this approximation frequently result in significant accuracy degradations. To introduce the ATP model with time lags, we first introduce the dynamic production function. Hackman and Leachman's dynamic production function in initiated research directly related to the topic of this paper. They propose a modeling framework for a system with non-integer time lags and show how to apply the framework to a variety of systems including continues time series, manufacturing resource planning and critical path method. Their formulation requires no additional variables or constraints and is capable of representing real world systems more accurately. Previously, to cope with non-integer time lags, they usually model a concerned system either by rounding lags to the nearest integers or by subdividing the time grid to make the lags become integer multiples of the grid. But each approach has a critical weakness: the first approach underestimates, potentially leading to infeasibilities or overestimates lead times, potentially resulting in excessive work-inprocesses. The second approach drastically inflates the problem size. We consider an optimized ATP system with non-integer time lag in supply chain management. We focus on a worldwide headquarter, distribution centers, and manufacturing facilities are globally networked. We develop a mixed integer programming(MIP) model for ATP process, which has the definition of required data flow. The illustrative ATP module shows the proposed system is largely affected inSCM. The system we are concerned is composed of a multiple production facility with multiple products, multiple distribution centers and multiple customers. For the system, we consider an ATP scheduling and capacity allocationproblem. In this study, we proposed the model for the ATP system in SCM using the dynamic production function considering the non-integer time lags. The model is developed under the framework suitable for the non-integer lags and, therefore, is more accurate than the models we usually encounter. We developed intelligent ATP System for this model using genetic algorithm. We focus on a capacitated production planning and capacity allocation problem, develop a mixed integer programming model, and propose an efficient heuristic procedure using an evolutionary system to solve it efficiently. This method makes it possible for the population to reach the approximate solution easily. Moreover, we designed and utilized a representation scheme that allows the proposed models to represent real variables. The proposed regeneration procedures, which evaluate each infeasible chromosome, makes the solutions converge to the optimum quickly.

• International Commerce and Information Review
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• v.15 no.1
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• pp.3-34
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• 2013

This research, which was experimented by dividing tangible and intangible products, established the influence that affects recovery for consumers' complaint behavior and behavioral intention as per each different compensation program. In Experiment 1, the consumers, who experienced complaint behavior owing to company's mistake, have preferably recovered through the compensation program offered by the company. However, there was a significant difference in preference recovery between products that caused complaint behavior. According to the study result, the more clear preference recovery was shown in the case of purchasing laptop than the case of dining in family restaurant. Additionally, the consumers' emotion recovery was possible through compensation.; There was a emotion recovery disparity depending on product type between purchasing laptop case and dining in family restaurant case. The consumers, who experienced complaints, were only able to recover their preference, emotion, and behavioral intention through compensation of which recovery was greater in tangible product case than ordinary service. Meanwhile, there was no distinct difference between recovery compensation types even though the products were identical-type ones whereas it appeared that such tangible product which showed greater purchasing effort as laptop computer was more effective in stimulating emotion response. In Experiment 2, the purpose was to find out the difference between complaint behavior and its recovery process shown after purchase by Korean and Japanese college students, who have different consumer purchasing habits. The both consumers of the two countries, who experienced complaint behavior, demonstrated precise difference in preference recovery while the emotion and behavioral intention exhibited no disparity between the two consumer groups. In this experiment, it was learned that Korean college students were show-off purchase type consumers while on the other hand, the Japanese college students were famous product purchase type consumers. Thus, there was a clear difference in laptop computer purchase process and post-purchase evaluation between these two groups. In particular, the Korean college students had quicker preference recovery through compensation than the Japanese college students on account of their tendency to be consciousness of others. Nevertheless, there was no difference between the emotion recovery and re-purchase recovery and therefore, the compensation program for complaints was proven to affect the emotion and behavioral intention.

• Management & Information Systems Review
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• v.36 no.5
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• pp.61-83
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• 2017

The purpose of this study is to investigate the mediating effects of psychological empowerment between participative leadership and creative behavior. Especially, it aims to analyze the unidimension and multidimension of psychological empowerment in an integrated manner, and to suggest effective practice of participative leadership together with theoretical and methodological implications. In this study, the dependent variable was measured separately with time lag as a method to solve the common method bias that can be shown by the self-report type survey method, and positive emotions and negative emotions expressing emotional states in job situations were employed as control variables along with rank. A total of 283 questionnaires were collected from employees who work for companies in various industries with more than 300 domestic employees. SPSS PROCESS macro program('model 4') was used for statistical analysis. Results, First, the full mediation effect of psychological empowerment(unidimension) was confirmed in the relationship between participative leadership and creative behavior. Second, the analysis of the multidimension of psychological empowerment revealed the full mediating effect of meaning, self-determination, and impact, and the mediating effect of competence was not significant. Third, as a result of comparing the mediating effects of unidimension of psychological empowerment and the mediating effects of multidimension, the magnitude of mediating effect of unidimension was found to be much greater than mediating effect of multidimension. And The magnitudes of the three multidimensional mediating effects were similar. This is a case in which the motivational model of participative leadership revealed in the overseas study is proven in the domestic management environment and is significant in that it is the basis of future research. Based on the results of the empirical studies, the implications and limitations of the study and future research directions are presented.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.8 no.6
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• pp.1634-1647
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• 2007

"To invest or not to invest?" Most business leaders are frequently faced with this question on new and ongoing projects. The challenge lies in deciding what projects to choose, expand, contract, defer, or abandon. The project valuation tools used in this process are vital to making the right decisions. Traditional tools such as discounted cash flow (DCF)/net present value (NPV) assume a "fixed" path ahead, but real world projects face uncertainties, forcing us to change the path often. Comparing to other traditional valuation methods, the real options approach captures the flexibility inherent to investment decisions. The use of real options has gained wide acceptance among practitioners in a number of several industries during the last few decades. Even though the options are present in all types of business decisions, it is still not considered as a proper method of valuation in some industries. Mining has been comparably slow to adopt new valuation techniques over the years. The reason fur this is not entirely clear. One possible reason is the level and types of risks in mining. Not only are these risks high, but they are also more numerous and involve natural risks compared with other industries. That is why the purpose of this study is to deal with a more practical approach to project valuation, known as real options analysis in mining industry. This paper provides a case study approach to the copper mining industry using a real options analysis. It shows how companies can minimize investment risks, exercise flexibility in decision making and maximize returns.

• Journal of the Korean Institute of Landscape Architecture
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• v.42 no.6
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• pp.101-110
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• 2014

This study analyzes the validity of the type classification of the type and design changes of apartment landscaping planting construction design changes that were completed in the private sector, efficiently manages the design changes that are displayed over landscaping planting work in general in the future, and performs research by placing the object underlying the presentation. The results are as follows. First, the percentage that occurred in the planting construction of design changes that have occurred in the apartment landscaping construction was carried out in the private sector and accounted for 61.8%. This indicates that part of the planting is a major design change. Second, as the cause of such a design change to be those associated with the field conditions such as lack of main construction period. In particular, due to a change in oral, appeared 7-48 times design changes of one review design change approval is complex, design changes of planting construction had shown a feature that occurs in multiple simultaneous. Third, the 7 types of Design Changes in planting design were delineated as 'design changes for consideration of the user', 'design changes for image improvement', 'design changes for ease of maintenance', 'design changes due to the mismatch of design statement', 'design changes due to the relationship with the engineering species of other', 'design changes due to lack of field study', and 'design changes due to the consideration of feasibility.' Fourth, 'design changes for consideration of the user' and 'design changes for image improvement' were found in more than half of the frequency of the overall changes. This differed from the results shown in public corporations. Fifth, if planting construction design change process, private companies, it was found that is showing the approval of the practice after the previous construction of the construction cost savings due to construction time. However, in the case of a public corporation, these exhibited a different aspect from the private sector and show a design change procedure that reflects the changes after the design change events in the field have occurred. The above results, the type of landscaping works in planting design change of public enterprises, regardless of the private sector, is the same in the seven types, the main reason of and procedures for design changes, indicating that there are other respects. In design change, it may be desirable to apply becomes liquidity rationality and efficiency of the dimension, depending on the nature of the landscape construction.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.7 no.6
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• pp.1319-1336
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• 2006

The successive round of talks oil Korea-USA Free Trade Agreement (FTA) has continued, and it also has the Intellectual property(IPR) unit. Until now, tile one of most disputing concerns in IPR unit through talks is the limitation of compulsory license of claimed invention. The US is urging to establish a safeguard for IPR, as similar measure of the US, to protecting the profit of the US enterprises through these on-going talks, it is more likely expected to take the offensive about infringement of the patent seriously. Based on the current circumstances, the provision strategy study is needed to obtain Korea inventors the first inventor defense under the US patent law system as well as understand the current Korea's patent law and its revision against that in the US. In patent Law, both nations with first to file system and first to invent system permit a prior user of an invention to continue to use the invention notwithstanding its subsequent patenting by another under being subject to certain qualifications and limitations, even though a patent by a later inventor is granted. Normally, the first inventor defense has been used to compensate the drawbacks of the first to file system. The US patent Law, however, adopting the first to invent system admits the first inventor defense. Therefore, pursuing counteract provision under consideration with Korean patent Law system and research environment along with investigating the reason why the US adopted its patent law system, the scope of right, and the new reform of Act. 2005 of the institute, which promotes the first Korean inventor to possess the defense right of the US, provides certain preparations for Korean companies against the expected offensive from the US ones under the US patent Law system.

• Journal of radiological science and technology
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• v.28 no.1
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• pp.25-32
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• 2005

Purpose : To evaluate the degree of the artifact which is caused by the mascara and the eye shadow when acquiring MR images and compare the difference of the image distortion according to the change of various pulse sequence. Material and Method : The popular domestic mascara and eye shadow products were selected from three different companies respectively and divided into two groups mascara (M1, M2, M3 ), eye shadow (E1, E2, E3). Self-designed quadrature type saddle coil which has 4 cm inside diameter, 8 cm length and which is for both Tx and Rx was used. MR image was acquired respectively after applying the mascara to the tape from study 1, the eye shadow to the tape from study 2 and adding the eye shadow to the mascara from study 3. The FSE(fast spin echo), the SE(spin echo), the GE(gradient echo) were used as pulse sequences. The degree of the image distortion which was measured from each sequence was analyzed in quality and quantity. Result : The mascara and the eye shadow caused the artifacts to the MR images partially and induced the image distortion. There was a little difference in terms of the degree of artifact according to the change of pulse sequence. From the study 3 in which the eye shadow was applied to the mascara, on the axial plane image, the width of artifact was 16.73 mm in the GE pulse sequence, 6.64 mm in the SE pulse sequence, and 6.19 mm in the FSE pulse sequence. The degree of the artifact appeared highly in order of the GE, the SE and the FSE. On the sagittal plane image, the length of artifact was 22.84 mm in the GE, 17.81 mm in the SE and it appeared highly with the SE and the FSE technique order. Conclusion : When examining the eyeball and the brain of a woman with the mascara and the eye shadow, we have to consider that the artifact caused by them can have an effect on the image diagnosis. We concluded that it is more suitable for a brain and a eyeball T2 emphasizing image to use the FSE technique than the GE technique.