• Journal of Korean Institute of Industrial Engineers
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• v.41 no.3
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• pp.243-252
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• 2015

This paper considers a supply chain consisting of a manufacturer under the cap-and-trade emissions regulation and a permit supplier. We study joint production quantity and investment in reducing permit production cost decisions for centralized and decentralized supply chains. We formulate two supply chain contracts with aims to coordinate the decentralized supply chain; wholesale price contract and cost-sharing contract. Under the cost-sharing contract, the manufacturer shares a part of the investment in reducing permit production cost and then is allowed to purchase emission permit at a lower price. We analytically find that the proposed cost-sharing contract with reasonable parameters can coordinate the supply chain whereas the wholesale price contract is not desirable to achieve the system-wide profit. Numerical example is followed to support the analysis.

• Journal of Nutrition and Health
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• v.36 no.5
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• pp.528-535
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• 2003

The purposes of this study were: 1) to investigate the operational and financial characteristics of contract-managed high school food services in Seoul, 2) to analyze the financial performance of high school food services 3) to develop guidelines for meal pricing and facilities investment costs. From Oct to Nov 2001, questionnaires were mailed to 249 high schools that were managed by contract food service companies. A 40.2％ response rate was recorded. The results of this study were as follows: 1. Student enrollment in high schools run by contract-managed food services was 1,518, with a 68.5％ participation rate in the school lunch program. The average meal price was 2,141 won. 2. Based on the income statement analysis, average total sales were 410,440,504 won and average net profit was 16,098,558 won. 3. The optimum food cost per meal was 1,200-1,300 won per meal, calculating using the methods of conversion factor, RDA (Recommended Daily Allowance), and nutrient exchange unit. 4. Guidelines for meal pricing were developed using the modified actual pricing method based on facilities investment cost, number of meals and food cost. The ratio of labor cost, general management expenses and ordinary profit were adopted from the schools with liability. The food cost, depreciation and interest cost were calculated based on unit meal. 5. The guideline for facilities investment was developed based on the number of meals, meal price and food cost. The guideline included the maximum facilities investment cost paid by the contract food service management company. (Korean J Nutrition 36(5): 528∼535, 2003)

• Journal of the Korean Society of Food Culture
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• v.17 no.5
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• pp.578-583
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• 2002

The purposes of this study were to a) find out the operational characteristics of the contract-managed highschool foodservice in Seoul, b) investigate the expected level of meal-price and facilities investment cost perceived by contract-managed highschool foodservice managers c) compare the present level and expected level of meal-price and facilities investment cost. From October 12 to November 13 in 2001, the questionnaires were mailed to 249 high schools which was managed by contract foodservice company with respondent rate 40.2%. Data were analyzed using SPSS Win(10.0) for descriptive analysis and one group paired t-test. The results of this study were as follows ; 1. The student enrollment of highschools run by contract-managed foodservice was 1,243 with 72.6% participation rate of school lunch program. The average meal-price was 2,138 won. The average annual period of school foodservice operation was 156.78 days per year. The average contracting period was about 3 years. 2. The average cost concerned in the facilities investment amounts 169,578,180 won at the initial investment and 25,204,092 won at the repairs and maintenance cost in the course of operation. 3. The present level of meal-price and facilities investment cost were respectively 2,136won/meal and 171,157,336.72 won. And expected level of meal-price and amount of facilities investment cost were 2,418.75 won and 121,353,215.19 won. Comparing the present level with the expected level of the meal- price and facilities investment cost, expected level of meal-price was significantly higher than the present level of meal-price(p<.001) and expected level of facilities investment cost was significantly lower than present level of facilities investment cost(p<.001).

• Korea Trade Review
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• v.41 no.5
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• pp.305-323
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• 2016

The scope of umbrella clause is very important because it is possible to extend or reduce the range of protection of the investment. Umbrella clause stipulated in the majority of BIT is often controversial, since there is no established criteria for the scope. So, this study considered ICSID arbitration cases related to the scope of umbrella clause. There are two different approaches for the scope of umbrella clause by arbitral tribunals. First, all of the disputes on the investment contract elevated to the disputes on the BIT. And umbrella clause can be applied that the host state entered into investment contract not only as a sovereign but also as a merchant. Second, all of the claims on the investment contract don't elevate to the claims on the BIT. Umbrella clause can be applied only if the host state violates the protected investment contractual rights and obligation under the BIT. And umbrella clause can be applied that the host state entered into investment contract as a sovereign but not as a merchant. Therefore, this study suggests to concretely specify the scope of umbrella clause under the BIT. And it is necessary to improve predictability by establishing continual database of the scope of umbrella clause and to prepare for investment disputes related to the scope of umbrella clause.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.58
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• pp.313-328
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• 2013

Today FTA extends over the world and Korea as a main member of international trade is no exception. In the past Korea, as the developing countries, has made endlessly effort to induce foreign investment from foreign enterprise and/or government to be a truly OECD countries today and made it. Korea's trade economy was reached 1 trillion dollars in 2012. Now we have to find a new way to produce, process, procure goods from foreign investment and also need to protect our profit and/or rights within foreign judicial territory. There are two method to protect foreign enterprise or government. First they rely on general principles in WTO or Bilateral Investment Treaty that the principle of equality, national treatment, and most-favored-nation treatment, you can create a predictable environment to protect foreign enterprise and/or government. Second they need to incorporate contractual clauses in their agreement such as stabilization clause, force majeure, arbitration, governing law or sovereign immunity. Of course there are many things left behind to consider I hope it will be helpful to those who prepare foreign investment contract.

• Korean Journal of Organic Agriculture
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• v.17 no.4
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• pp.441-461
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• 2009

Switching to organic farming practices in agricultural production reaches the end of the period it takes an average of five years. During this period, agricultural soil management to improve the investment must be sustained. Results of the survey of environment-friendly agricultural lease rates appear to approximately 54.2% lower than agricultural practices. Environmentally friendly agricultural land is leased on a long transition period of the contract cost, many buried incompleteness, uncertainty of contract fulfillment(opportunistic behavior) occurs when the transaction costs. This ultimately can hinder the spread of organic farming. Thus, the qualitative development of organic farming and land leasing in order to minimize transaction costs, should that occur. The alternative 'cooperative long-term lease contract' is a system.

• Journal of the Korean Dietetic Association
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• v.8 no.3
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• pp.280-288
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• 2002

The purpose of this study was to investigate the operational characteristics of the contract-managed highschool foodservice and to analyze the factors to effect the menu price. The data was collected from 249 highschools in Seoul. The results are as follows; Those surveyed highschools were established as 1 national, 74 public, and 174 private institution. Highschools were classified as 176 academic, 66 vocational, and 7 specific purposed institution. Students were organized as 70 boys', 23 girls', and 41 coeducational highschools. Most highschool started contract-managed highschool foodservice from 1999 and the period of foodservice contract was most 3 years and the operation styles in food distribution were 96 classrooms, 105 dining halls and 17 classrooms combined dining halls. The scale of contract foodservice management companies was 63.1% small and medium and 36.9% large enterprises. The surveyed highschools had the average meal price 2,141 won per meal and they had 1,518 pupils on the register. The participating rate to the foodservice was 68.5%. The facilities investment cost of the contract foodservice management company was 179,204,230 won for private institutions and was 138,119,010 won for national&public institutions. The period of the contract was 3.22 years in private institutions, which was significantly higher than national&public institutions which showed 2.85 years. The commissary foodservice schools had higher facilities investment cost than conventional foodservice schools. Classrooms foodservice had higher participating foodservice rate than Dining halls. The investment cost for facilities showed high in order of girls', boys', and coeducational high schools, and the number on the register and the number participating in the foodservice showed high in order of boys', girls', and coeducational high schools. The number on the register showed the highest in academic and vocational schools, specific purposed institutions in sequence, and the number participating in the foodservice showed high in order of academic schools, specific purposed institutions and vocational. However, the participating foodservice rate showed high in specific purposed institution, academic and vocational schools in order, and the meal price, the investment cost for facilities showed high in specific purposed institution, academic and vocational schools in sequence. Regionally, the district south of Han river had the average meal price 2,266.13 won, which showed higher in the eastern part which had 2,033.33 won. The western part had the average investment cost for facilities of 233,331,060 won, and the central district 126,137,140 won. The number on the register showed 1845.68 in the eastern part and 1308.00 in Dong-Jak area, that had clear differences among areas. When the period of the contract went longer, the investment cost for facilities had a tendency to increase. The significant differences were existed among meal price, the investment cost for facilities, the number on the register, the number participating in the foodservice, and the participating foodservice rate. The investment cost for facilities had increased according to the number participating in the foodservice and the participating foodservice rate. And the large enterprises showed higher participating foodservice rate than the small and medium enterprises.

• Journal of Distribution Science
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• v.12 no.12
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• pp.19-26
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• 2014

Purpose - This paper aims to test the effects of Korean food service franchisors' and franchisees' TSI (Transaction Specific Investment) on dependence and trust toward the franchisor and re-contract intention. The study examines the effects of both franchisors' and franchisees' TSI on dependence and trust, as compared with Ganesan (1994). Research design, data, and methodology - Data were collected from 495 Korean food service franchisees and analyzed with structural equation modeling using path analysis through SPSS 18.0 and AMOS 18.0. Results - 1) The franchisor's TSI has positive effects on the franchisee's dependence and trust toward the franchisor. 2) The franchisee's TSI has a positive effect on the franchisee's dependence toward the franchisor. 3) The franchisee's dependence and trust have positive effects on commitment. 4) The franchisee's dependence, trust, and commitment have a positive effect on re-contract intention. Conclusions - The franchisor's and franchisee's TSI affect the franchisee's dependence and trust toward the franchisor. The franchisee's dependence and trust influence commitment and re-contract intention. This has managerial implications for franchisors striving to raise franchisees' re-contract intention.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.60
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• pp.79-106
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• 2013

The world is significant increasing investment volume into developing countries from foreign investors. Foreign financial capital is searching in interesting place among the emerging market. However foreign investors put still their experience in the economical and social crisis with political risks in the host countries. MIGA entered into the political risks insurance market which has one of the basic matter of sponsored the private investment guarantee programs. They put guarantee or covering risks of currency inconvertibility, expropriation, breach of contract and political violence. In the case contracts of guarantee concluded between investor and MIGA which are disputes in relation to such MIGA service contract, it should be settled by negotiation, conciliation and arbitration under the convention establishing the Multilateral Investment Guarantee Agency(MIGA). All disputes within the scope to states and investor of MIGA members shall be settled in accordance with the procedure set out in the convention. Recently, MIGA is opening the office in Seoul to strengthen joint efforts between MIGA and Korea. It will be a good chance to consider sustainable improvement and dispute solutions for emerging countries in foreign investment to the korean investors.

• Journal of Nutrition and Health
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• v.36 no.10
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• pp.1083-1093
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• 2003

Efficient financial management is a critical factor in achieving school foodservice goals. The objective of this study was to suggest efficient financial management practices in secondary school foodservices. In pursuit of this objective, we first identified performance indexes for measuring the success of financial management. Second, we suggested financial management standards, financial data classification methods and a report system. Last, we analyzed operating ratios with the financial data of self-operated and contract-managed school food services. The data were collected through an open-ended questionnaire from 10 middle/high school foodservices in Seoul and Kyeonggi Provincial during on-sites visits and interviews with dieticians and managers. Student participation, sales goals, re-contract frequency and number and cost of disaster loss were identified as the performance indexes for financial management. Income statements were compiled by identifying and classifying financial data. Total revenues consisted of subsidies, meal sales, other revenue and interest. Expenditures consisted of purchased food, salaries and wages, utility costs, office supplies, kitchen supplies, purchased services, company overhead indirect costs, facility investment and maintenance, facility usage expenses, employee benefits and miscellaneous. Mean price of a meal was 2,326 won at self-operated foodservices when the subsidies were included as revenues and 2,360 won at contract-managed foodservices. When including the subsidies as revenues, the operating ratios of self-operated foodservice showed that the food cost percentage was 66.9％, labor cost 23.2％, operation cost 9.9％ and profit 0％. The correspond figures at contract-managed foodservices were 57.6％, 21.5％, 15.3％, and 5.5％, respectively. Food costs in self-operated foodservices was significantly higher than that for contract-managed foodservices, however, facility investment and maintenance and facility usage expenses at self-operated foodservices was significantly lower than those for contract-managed foodservices. Based on this study, the methodology and classification system of financial data was found to be applicable to assess the financial structure of school foodservices.