• Journal of the Korean Society of Marine Environment & Safety
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• v.28 no.4
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• pp.567-576
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• 2022

Seafarers are exposed to various unpredictable maritime risks due to the spatial specificity of the working environment of the sea; thus, sufficient compensation for injured crewmembers is needed. However, Korea does not provide such compensation. Therefore, this study attempted to examine the Maritime Labor Act and the Industrial Accident Insurance Act of Germany, an advanced European social insurance country, and derive implications compared to Korea. First, we investigated how compensations are managed by a public institution in Germany and by shipowners in Korea. Second, regarding the contents of accident compensation, Germany does not only provide continuous treatment and care through various support systems, but also operates various programs to enable a return to ship work. In contrast, Korea has a temporary compensation system that allows shipowners to avoid liability for accident compensation, which is disadvantageous to shipwrecked seafarers. Finally, in Germany, workers' compensation insurance is public, judged considering the origin of work, whereas in Korea, it is determined by shipowners or insurance companies. Therefore, it is necessary to establish a public institution in charge of crew accident compensation to ensure proper compensation for crewmembers in Korea and to improve the Seafarers Act or system to provide compensation for additional medical care, disability pension, and rehabilitation benefits.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.26
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• pp.203-223
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• 2005

Many international transactions involve the use of security devices, commonly referred to as "guarantees", "bonds", or "standby credits", designed to protect one of the parties from a breach by its counter-party. These security mechanisms may be provided by banks, insurance companies, specialized surety companies, or other financial service firms. Although some legal systems distinguish between "guarantees", "bonds", and "indemnities", these terms are often used as synonyms in the everyday language of international traders. It may therefore be necessary to examine the particular characteristics and nature of the guarantee obligation in order to properly classify the guarantee. Two main categories of guarantee are demand and suretyship. Under a demand guarantee, the guarantor must pay on first demand by the beneficiary. The beneficiary only has to demand payment under the guarantee - there is no need to prove that the principal has actually defaulted on a contractual obligation. Under a suretyship or conditional guarantee, the obligation of the guarantor is triggered by the actual default or contractual breach of the principal, as evidenced in a document such as a court judgement or arbitral award against the principal. Guarantees have been widely used in the international business transactions. Main uses of guarantees are as follows : Performance Bonds/Guarantees, Bid(or Tender) Bonds/Guarantees, Advance Payment or Repayment Bonds/Guarantees, Retention Bonds/Guarantees, Maintenance(or Warranty) Bonds/Guarantees etc.

• Journal of Information Technology Services
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• v.14 no.4
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• pp.269-281
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• 2015

The objective of this study is offering new on line business model for automotive market. In order for the research aim, we conduct direct in-depth interviews with CEO, including analysis of business patterns on eight automotive firms in Gwangju city. As a result, we suggest new business model so called, Online to offline (o2o) that combines advantages in both off-line and on-line business. Techniques that o2o automotive companies may employ include in-store pick up of items purchased online, allowing customers. Purchasing the automotive is not only a car but also services including insurance, warrant services. o2o business model suggested shows the operating of the goods and service sale. When it comes to characteristics of automotive conventional sale patterns, utilization of the online-to-offline commerce has not eliminated the advantages that e-commerce companies have. That model can enhance the new values for customers as well as new market creation. Also, this new business model (o2o) can contribute the emerging industry business model installed based in particular, emergence of Iot (Internet of thing) in terms of sharing knowledge and information between enterprise and customers.

• Korea Trade Review
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• v.42 no.3
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• pp.25-47
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• 2017

Forfaiting is a trade finance facility whereby financial institution purchases accounts receivable from exporters, on a without recourse basis. After the adoption of K-IFRS in 2011, accounting for simple borrowing as usual negotiation increases debt ratio which in turn, worsens financial soundness of a company. Hence, exporting companies have their interest in forfaiting that enables book-off in order to decrease the borrowing. Along with the execution of URF 800 at ICC and increasing the interest of exporting companies into forfaiting, foreign exchange banks in Korea expand the development of products related to forfaiting. Upon surveying all these national banks of this matter, this paper identified an appropriate solution for the forfaiting practice.

• Korean Management Science Review
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• v.34 no.3
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• pp.15-41
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• 2017

The purpose of this study is to analyze the effects of the BSCs of 642 firms excluding the financial and insurance companies listed on KOSPI. The analysis of financial performance through analysis of major financial ratios between BSC and non-BSC firms is compared with the input of human and material resources for business growth. We will promote the spread of BSC and examine the areas differentiated performance improvement. The analytical categories are manufacturing, service, wholesale and retail, and information and communications, which are 2,136 business years out of 2,378 final analytical samples. The results of the analysis are as follows. As a result of the analysis, among the four industries analyzed, the industries that showed the best performance were manufacturing. In the case of service industry, growth and activity were lower than those of non-adoption (NA) companies, but the operating margin was significantly different from manufacturing. However, market value was higher than that of NA companies, and R&D expenditures and advertising expenses were significantly higher than NA firms. On the other hand, there was no significant difference in profitability between the BSC and NA firms, but the market value was very significant. EPS is 5.22 times, BPS is 5.64 times, PBR is 1.3 times, and EVA is 35 times higher. In addition, R&D expenditure and advertising expenditure are more than twice as high as those of NA. In the case of the service industry, there is no significant difference in the growth performance from the NA firms. Activity indicators, BSC introduced companies are three times lower than both the total assets turnover and the capital turnover rate. The operating profit margin was high at 45.8% for introduced companies and 37.2% for non-introduced companies. In market value analysis, only BPS was 1.68 times higher. On the other hand, investment in welfare expenses is 0.2% of total assets, which is relatively low compared to NA firms. However, research and development expenses and advertising expenses are 2.1% and 1.02% of total assets, respectively, but they are relatively lower than those of NA firms. Unlike the manufacturing and service industries, wholesale and retail trade was significantly higher than the NA firms in terms of sales growth and total assets growth rate. In terms of market value, EPS and BPS were significantly higher, but the benefits, R&D expenditures, and advertising expenses were lower than those of NA firms. The information and communication industry showed lower level of performance than the NA firms in all indicators except cash liquidity, BPS, and EVA.

• Asia Marketing Journal
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• v.12 no.2
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• pp.111-133
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• 2010

Marketing financial services used to be easier. Today, the competition in financial services is fierce. Not only has the competition become more intense, financial services have also changed structurally. In an environment with various customer needs and severe competitions, the marketing in financial services industry is getting more difficult and more important than before. However, there are still not enough studies on financial services marketing in Korea whereas lots of research papers have been published frequently in some international journals. The purpose of this paper is (1)to review the literature on financial services marketing, (2)to investigate current marketing activities based on in-depth interview with financial marketing managers in Korea, and (3)to suggest some implications for future research on the financial services marketing. Financial products are not consumer products. In fact, they are not products at all in the way product marketing is usually described. Nor are they altogether like services. The financial industry operates in a unique way, and its marketing tasks are correspondingly complex. However, the literature review shows that there has been a lack of basic studies which dealt with inherent characteristics of financial services marketing compared to the research on marketing in other industries. Many studies in domestic marketing journals have so far focused only on the general customer behaviors and the special issues in some financial industries. However, for more effective financial services marketing, we have to answer following questions. Is there any difference between financial service marketing and consumer packaged goods marketing? What are the differences between the financial services marketing and other services marketing such as education and health services? Are there different ways of marketing among banks, securities firms, insurance firms, and credit card companies? In other words, we need more detailed research as well as basic studies about the financial services marketing. For example, we need concrete definitions of financial services marketing, bank marketing, securities firm marketing, and etc. It is also required to compare the characteristics of each marketing within the financial services industry. The products sold in each market have different characteristics such as duration and degree of risk-taking. It means that there are sub-categories in financial services marketing. We have to consider them in the future research on the financial services marketing. It is also necessary to study customer decision making process in the financial markets. There have been little research on how customers search and process information, compare alternatives, make final decision, and repeat their choices. Because financial services have some unique characteristics, we need different understandings in the customer behaviors compared to the behaviors in other service markets. And also considering the rapid growth in financial markets and upcoming severe competition between domestic and global financial companies, it is time to start more systematic and detailed research on financial services marketing in Korea. In the second part of this paper, I analyzed the results of in-depth interview with 20 marketing managers of financial services companies in Korea. As a result, I found that the role of marketing departments in Korean financial companies are mainly focused on the short-term activities such as sales support, promotion, and CRM data analysis although the size and history of marketing departments to some extent show a sign of maturity. Most companies established official marketing departments before 2001. Average number of employees in a marketing department is about 58. However, marketing managers in eight companies(40% of the sample) still think that the purpose of marketing is only to support and manage general sales activities. It shows that some companies have sales-oriented concept rather than marketing-oriented concept. I also found three key words which marketing managers think importantly in financial services markets. They are (1)Trust in customer relationship, (2)Brand differentiation, and (3)Rapid response to customer needs. 50% of the sample support that "Trust" is the most important key word in the financial services marketing. It is interesting that 80% of banks and securities companies think that "Trust" is the most important thing, whereas managers in credit card companies consider "Rapid response to customer needs" as the most important key word in their market. In addition, there are different problems recognition of marketing managers depending on the types of financial industries they belong to. For example, in the case of banks and insurance companies, marketing managers consider "a lack of communication with other departments" as the most serious problem. On the other hand, in the case of securities firms, "a lack of utilization of customer data" is the most serious problem. These results imply that there are different important factors for the customer satisfaction depending on the types of financial industries, and managers have to consider them when marketing financial products in more effective ways. For example, It will be necessary for marketing managers to study different important factors which affect customer satisfaction, repeat purchase, degree of risk-taking, and possibility of cross-selling according to the types of financial industries. I also suggested six hypothetical propositions for the future research.

• Journal of Convergence for Information Technology
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• v.9 no.7
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• pp.8-13
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• 2019

Recently, In line with the recent trend of the fourth industrial revolution, many companies and institutions have been increasingly applying automated technologies using artificial intelligence to various tasks. Particularly, due to the government's 52-hour workweek system, companies are increasingly struggling with manpower management. Therefore, they are interested in RPA (Robotic Process Automation) for office environment automation for efficient manpower management. It is being introduced in the back-office business in credit card companies, bank, insurance. These RPA solutions require AI-based recognition technology, scripting technology, business software API-related technologies, and various solutions such as Automate One, Automation Anywhere, UiPath, and Blue Prism are provided. This paper analyzes and describes the technology of RPA solution, the market trend, and the efficiency of RPA adoption.

• The Korea Journal of Herbology
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• v.29 no.3
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• pp.35-42
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• 2014

Objectives : Since single extract powders was released at 1987, the insurance fee has not been changed, but the price of raw material has been increasing. According to this, Pharmaceutical company couldn't invest on quality of the product, so, the quality of single extracts went down and lost the consumer's trust. We checked the contents of marker ingredients in single extract thereby to recover the reliability of insurance-covered herbal preparations. Methods : we bought total twelve products of eight different single extracts of two main pharmaceutical companies among total 65 kinds of single extract powder stipulated in KHP (The Korean Herbal Pharmacopoeia) monograph III at Jan. 2013. Assays of selected single extract powders are performed by KHP regulation. And we surveyed price fluctuation of relevant herb raw materials from 2005 to 2012. Results : Among twelve products, eight single extract powders were suitable by the KHP regulation. But four products didn't reach the content amount of KHP. Marker contents in the single extracts product of Pueraria Root, Licorice, Peony root and Scutellaria Root of A company were 70%, 1%, 23.7% and 75.1%, respectively. Conclusions : We can acertain whether there's a quality problem in the insurance-covered single extract powders. But, A company is no longer producing these improper single extract powders. As a medicine, single extract powders needs to be strictly quality controlled by the company, and regularly monitored by the KFDA.

• Korean Security Journal
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• no.6
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• pp.273-289
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• 2003

The purpose of this study is to explore the underlying causes of the development of private security in the United States. These include the increasing crime rates and fear of crime, the poor performance of public policing, the decentralization of political authority, the increase of mass private property, economic growth and increase of personal income, commodification of security, insurance companies' demand for tighter security and fear of litigation, and historical events such as World War I & II. Based on the findings of this study, it is suggested that no single factor would account for the growth of private security in the United States. In other words, the rapid growth of private security in the United States should be attributed to the interrelated influences of the factors given above. Finally, it might be the contribution of this study that the future development of private security in Korea would be guided by understanding the case of the United States because of the similarities of the developmental process in private security industry of two countries.

• Journal of the Korean Data and Information Science Society
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• v.8 no.2
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• pp.153-161
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• 1997

A Korean exporience life table(male) is constructed by using a mixture of weighted moving average(WMA) model and Gompertz' parametric survival model based on 25,000,000 insured of major 6 life insurance companies from 1988 to 1992. The graduated values are taken as those which minimize the composite measure of fittness and smoothness. Moreover, we propose closed form estimators for three parameters of Gompertz' model.