• The Journal of Small Business Innovation
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• v.20 no.1
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• pp.1-18
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• 2017

This study examined whether divided and spun-off companies design and execute spin-offs to minimize tax burdens by analyzing multiple spin-off transactions in the Dongbu Group, when the Korean tax law regarding corporate restructuring was amended in July 2010. Before the July 2010 tax amendment, taxes on the capital gains arising from the qualifying spin-off were deferred to the earlier of the shares in or assets acquired by the spun-off company are disposed. This tax treatment relieves the divided company's tax burden by deferring taxes on capital gains, compared with non-qualifying spin-offs. However, if shares in or assets acquired by the spun-off company are disposed after the July 2010 tax amendment, the capital gain incurred at the time of the qualifying spin-off would be taxed again at the spun-off company, in addition to a taxation on the divided company's capital gains. This creates double taxation implications for the parties involved in the spin-off. As a result, the double taxation may outweigh the benefit from the tax deferral on the qualifying spin-off, which may make a qualifying spin-off tax unfavorable. Among the four spin-off cases in the Dongbu Group addressed in this study, a spin-off occurred before the tax amendment, whereas three spin-offs occurred after the tax amendment. Initially, we expected that the spin-off before the tax amendment would be a qualifying spin-off, and the other three spin-offs would be non-qualifying spin-offs, considering the taxation rules before and after the July 2010 tax amendment. However, based on the review of summarized balance sheets disclosed in the spin-offs' corporate filings, no capital gains arose during the four spin-offs that occurred in the Dongbu Group. Therefore, we concluded that the Dongbu Group considered non-tax factors more than tax factors while designing and executing the spin-offs. The local media posited during this period that these spin-offs may intend to resolve financial issues in the Dongbu Group, and this analysis was supported by the fact that some shares in the new spun-off companies were sold by the Dongbu Group. Our case studies provide evidence that all costs, including both tax and non-tax costs, must be considered in the course of spin-offs, in addition to the tax burdens on all parties involved in the corporate restructuring, which parallels the work of Scholes et al. (2008). This study provides implications that various aspects should be considered and reviewed in advance when the management makes decisions for effective tax planning.

• Journal of the Korean Geographical Society
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• v.31 no.1
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• pp.49-67
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• 1996

On of Revolutionary changes of the commercial facilities is appearance of supermarket since the 1970's. It means modernization of retail establishment size. Simultaneously, and then path of distribution resulted in change. Namely, function of wholesale and retail is mixed, path of distribution is shortened, and then distribution function become more influential. By these changes, producer, manager and consumer can be benefit. That is, a change of commercial part is accurance to change of society and economy of region. The aim of the study is to examine commercial properties of supermarket in Kwangju city, and then, it is concerned with life of residents. Factor analysis is applied to the study. The results are as follows: Four factors are abstracted. The first factor of large explanation on properties of supermarket is accounted for years of management, land lent, number of establishments of wholesale${\cdot>$retail${\cdot>$service, age of manager, distance of neighbour residence, and so on. Namely, these may be regarded as commercial environmental feature. Moreover, regional distribution on the ground of factor score is concentrated on CBD and it's neighbour area, which are the areas of highest land lent in Kwangju city. The second factor is accounted for number of supermarket and number of population in each 'dong' (smallest factor-scored area is new housing complex in an outer ring of Kwangju. The third factor is accounted for number of workers, and size of establishment. Regional distribution is concentrated on neighbour of CBD and the outer ring area. These are scattered in contrast to the first and second factors which are continuous. The fourth factor is noted on a sale price of non-foodstuffs, that is, a feature of formation of goods. The highest factor score areas are the CBD, neighbour area of the CBD and a part of an outer ring area. On the other hand, the property of supermarket is preferred to 'the near distance' according to consumer's viewpoint. Furthermore, the location of supermarket, which is actually used by residents, is almost near residental area. It means that condition of location of supermarket is important in the distance of neighbour residence. Besides, supermarkets in Kwangju city are actually situated at residental area, that is, those locations in Kwangju city correspond to preference of consumer's viewpoint. Moreover, this result corresponds to the first factor of the analysis. Namely, the distance of property of supermarket from neighbour residence has very important effect on both of consumer and manager. In the end, supermarket is strongly related to life of residents. It means that supermarket is also responsible to quality of life. On the other hand, commercial facilities have been changed according to consumer's needs and social environments. For these reasons, commercial properties of supermarket must be reexamined in according to diverse commercial facilities and change of commercial environments.

• Journal of the Korean Institute of Landscape Architecture
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• v.48 no.4
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• pp.19-28
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• 2020

The Urban Heat Island (UHI) Effect has intensified due to urbanization and heat management at the urban level is treated as an important issue. Green space improvement projects and environmental policies are being implemented as a way to alleviate Urban Heat Islands. Several studies have been conducted to analyze the correlation between urban green areas and heat with linear regression models. However, linear regression models have limitations explaining the correlation between heat and the multitude of variables as heat is a result of a combination of non-linear factors. This study evaluated the Heat Island alleviating effects in Seoul during the summer by using a deep neural network model methodology, which has strengths in areas where it is difficult to analyze data with existing statistical analysis methods due to variable factors and a large amount of data. Wide-area data was acquired using Landsat 8. Seoul was divided into a grid (30m × 30m) and the heat island reduction variables were enter in each grid space to create a data structure that is needed for the construction of a deep neural network using ArcGIS 10.7 and Python3.7 with Keras. This deep neural network was used to analyze the correlation between land surface temperature and the variables. We confirmed that the deep neural network model has high explanatory accuracy. It was found that the cooling effect by NDVI was the greatest, and cooling effects due to the park size and green space proximity were also shown. Previous studies showed that the cooling effects related to park size was 2℃-3℃, and the proximity effect was found to lower the temperature 0.3℃-2.3℃. There is a possibility of overestimation of the results of previous studies. The results of this study can provide objective information for the justification and more effective formation of new urban green areas to alleviate the Urban Heat Island phenomenon in the future.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.11
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• pp.7227-7236
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• 2015

The survey revealed that, due to the discharge characteristics of seafood wastewater, irregular inflow loads were caused, making it difficult to treat the wastewater safely. It is crucial for the operation of pressure and floating tanks for the treatment of high-concentration organic wastewater such as seafood wastewater. The survey of operation factors for the pressure and floating tanks revealed this: A/S ratio 0.05 (design criteria 0.01), the pressurized air pressure 8bar(design criteria 6bar), the pressure tank pressure 6bar (design criteria 4.5bar), and HRT 60sec(design criteria: 10sec). Also, the recirculation rate was changed to over 40%(design criteria: 30%), and the surface load rate was changed to under $13.7m^3/m^2{\cdot}hr$(design criteria: under $17.7m^3/m^2{\cdot}hr$); thus, compared to the initial design criteria, the operation factors were changed according to inflow characteristics, thus enhancing the pressure and floating tank performance. The survey of inflow load revealed BOD 140.7%, $COD_{Mn}$ 120.32%, and SS 106.3%, compared to the inflow design criteria, as well as T-N 135.5% and T-P173.3%, higher than the design criteria. The survey of the treatment facility annual operation cost revealed high portions in sludge treatment cost(27.7%) and chemicals costs(26.0%), and the sludge treatment cost will likely further increase due to the ban on ocean dumping. The unit cost for the treatment of seafood wastewater was found to be KRW 3,858 per ton, more than 27 times higher than the sewage treatment cost(KRW 142.6/ton), presumably because the seafood wastewater contains high-concentration organic substances and nutritive salts.

• Journal of Intelligence and Information Systems
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• v.21 no.3
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• pp.79-99
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• 2015

The prediction of bankruptcy has been extensively studied in the accounting and finance field. It can have an important impact on lending decisions and the profitability of financial institutions in terms of risk management. Many researchers have focused on constructing a more robust bankruptcy prediction model. Early studies primarily used statistical techniques such as multiple discriminant analysis (MDA) and logit analysis for bankruptcy prediction. However, many studies have demonstrated that artificial intelligence (AI) approaches, such as artificial neural networks (ANN), decision trees, case-based reasoning (CBR), and support vector machine (SVM), have been outperforming statistical techniques since 1990s for business classification problems because statistical methods have some rigid assumptions in their application. In previous studies on corporate bankruptcy, many researchers have focused on developing a bankruptcy prediction model using financial ratios. However, there are few studies that suggest the specific types of bankruptcy. Previous bankruptcy prediction models have generally been interested in predicting whether or not firms will become bankrupt. Most of the studies on bankruptcy types have focused on reviewing the previous literature or performing a case study. Thus, this study develops a model using data mining techniques for predicting the specific types of bankruptcy as well as the occurrence of bankruptcy in Korean small- and medium-sized construction firms in terms of profitability, stability, and activity index. Thus, firms will be able to prevent it from occurring in advance. We propose a hybrid approach using two artificial neural networks (ANNs) for the prediction of bankruptcy types. The first is a back-propagation neural network (BPN) model using supervised learning for bankruptcy prediction and the second is a self-organizing map (SOM) model using unsupervised learning to classify bankruptcy data into several types. Based on the constructed model, we predict the bankruptcy of companies by applying the BPN model to a validation set that was not utilized in the development of the model. This allows for identifying the specific types of bankruptcy by using bankruptcy data predicted by the BPN model. We calculated the average of selected input variables through statistical test for each cluster to interpret characteristics of the derived clusters in the SOM model. Each cluster represents bankruptcy type classified through data of bankruptcy firms, and input variables indicate financial ratios in interpreting the meaning of each cluster. The experimental result shows that each of five bankruptcy types has different characteristics according to financial ratios. Type 1 (severe bankruptcy) has inferior financial statements except for EBITDA (earnings before interest, taxes, depreciation, and amortization) to sales based on the clustering results. Type 2 (lack of stability) has a low quick ratio, low stockholder's equity to total assets, and high total borrowings to total assets. Type 3 (lack of activity) has a slightly low total asset turnover and fixed asset turnover. Type 4 (lack of profitability) has low retained earnings to total assets and EBITDA to sales which represent the indices of profitability. Type 5 (recoverable bankruptcy) includes firms that have a relatively good financial condition as compared to other bankruptcy types even though they are bankrupt. Based on the findings, researchers and practitioners engaged in the credit evaluation field can obtain more useful information about the types of corporate bankruptcy. In this paper, we utilized the financial ratios of firms to classify bankruptcy types. It is important to select the input variables that correctly predict bankruptcy and meaningfully classify the type of bankruptcy. In a further study, we will include non-financial factors such as size, industry, and age of the firms. Thus, we can obtain realistic clustering results for bankruptcy types by combining qualitative factors and reflecting the domain knowledge of experts.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.6
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• pp.4335-4347
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• 2015

The objective of this study was to investigate $PM_{10}$ and $CO_2$ concentrations in the classrooms of 286 elementary schools in Suwon, Ansan, and Hwaseong in the province of Gyeonggi between August 2008 and December 2012. By gaining an understanding of the environmental factors that influence these concentrations, this study also aimed to establish a management plan for indoor air quality in schools, which substantially affects the health of elementary students. When the schools were classified by region, no statistically significant difference in $PM_{10}$ concentration was observed. However, $PM_{10}$ concentration was relatively high in industrial areas and low in rural areas. No difference in $CO_2$ concentration was observed among the surveyed cities. Analysis of annual $PM_{10}$ concentration showed that the highest values for Suwon and Hwaseong occurred in 2008 and 2009, respectively (p<0.01). In the case of Ansan, the highest concentration occurred during 2009, but the difference was not significant compared to the other years. Analysis of the annual $CO_2$ concentration of each city shows no significant difference among the cities (p-value=0.366,0.730,0.210). According to a time series analysis of $PM_{10}$ and $CO_2$ by season, from autumn 2008 to winter 2012, $PM_{10}$ concentration was high during 2009, then it gradually decreased until 2012, and started to increase again. While no difference in annual $CO_2$ concentration was observed, the concentration had a tendency to be higher in spring and winter than in summer. By analyzing the relationship between $PM_{10}$ and $CO_2$ and the environmental factors (years of construction, average students of classroom, temperature, and humidity), it showed a significant negative correlation was found between $CO_2$ and the environmental temperature and humidity, at -0.329 and -0.188, respectively (p<0.01).

• Journal of Chest Surgery
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• v.39 no.3 s.260
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• pp.220-225
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• 2006

Background: Spontaneous pneumomediastinum is an uncommon, benign, self-limited disorders that usually occurs in young adults without any apparent precipitating factors or disease. The purpose of this study was to review our experience in dealing with this entity and describe a reasonable course of assessment and management. Material and Method: A retrospective case series was conducted to identify adults patients with SPM who were diagnosed and treated in a single institution between 2001 and 2005. Result: Fifteen patients were identified who included 14 men and 1 women with a mean age of 26 years. Presenting symptoms were chest pain in 12 patients ($80\%$), dyspnea in 5 patients ($33\%$), and throat discomfort in 4 patients ($26\%$). Two cases were associated with use of inhalational drugs and 3 cases were associated with exercise. The predisposing factors were asthma, excessive exercise, and vomiting in spontaneous pneumomediastinum. The physical findings were subcutaneous emphysema in 10 patients ($77\%$). Chest radiography and computerized tomography were the diagnostic methods in all cases with CT scan revealing six cases with associated pulmonary abnormalities. Esophagogram and flexible bronchoscopy were selectively used. Fifteen patients ($100\%$) were admitted to the hospital. Their mean hospital stay was 3 days. All patients were conservatively treated. In a follow-up of 3 years no complications or recurrences were observed. Conclusion: Most simple spontaneous pneumomediastinum cases were benign diseases and most of them ($77\%$) had shown typical chest pain, dyspnea and subcutaneous emphysema. Inhalational drug use was not a major cause of SPM; however, increased use of bronchoinhalers was a suspicious cause of SPM.

• Journal of Chest Surgery
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• v.32 no.3
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• pp.281-286
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• 1999

Background: The purpose of this study is to analyze the types of complications, the incidences of complications, and preoperative and postoperative risk factors affecting the incidence of the complication. Material and Method: Between August 1990 and August 1997 in Asan Medical Center, 42 patients(24 men and 18 women) underwent surgical resection for pulmonary aspergilloma. The mean age was 46.6${\pm}$11.5 years(range 29 to 69 years). Hemoptysis(90%) was the most common presentation. Pulmonary tuberculosis was the most common predisposing cause(81%). The associated diseases were bronchiectasis(n=11), active puolmonary tuberculosis(n=9), diabetes mellitus(n=8), lung carcinoid(n=1), and acute myeloblastic leukemia(n=1). Lobectomy was done in 32 cases(76%), segmentectomy or wedge resection in 4, pneumonectomy in 2, and lobectomy combined with segmentectomy in 4. Result: Operative mortality was 2%. The most common postoperative complication was persistent air leakage(n=6). The variables such as age, sex, pulmonary function test, amount and duration of hemoptysis, associated diseases(diabetes mellitus, active pulmonary tuberculosis), mode of preoperative management(steroid, antifungal agent, bronchial arterial embolization), and modes of operative procedures were statistically insignificant. The radiologic extent of infiltration to normal lung parenchyme was statistically significant(p=0.04). Conclusion: We conclude that the extent of the infiltration to normal lung parenchyme in preoperative radiologic studies should be carefully evaluated to reduce the postoperative complications in surgery for pulmonary aspergilloma.

• Korean Journal of Soil Science and Fertilizer
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• v.28 no.3
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• pp.227-232
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• 1995

The model equations including scaling factors to estimate the soil water characteristics curve(SWCC) without direct measurement of soil water tension were developed. Scaling were applied to a data set of soil water content, soil water tension, particle size distribution, and OM contents of the 134 soil samples with the 10 soil textural classes. The capability of the model equations was tested on another 205 soil samples. The parameter, ${\theta}^*$, of soil water contents was used by scale transformation as follows : ${\theta}^*=[{\theta}i-{\theta}(1.5MPa)]$/$[{\theta}(10KPa)-{\theta}(1.5MPa)]$ Using ${\theta}^*$ a model equation to estimate SWCC, which was applicable to all textural classes, was developed as follows: $H(0.1MPa)=0.13{\cdot}({\theta}^*)^{-2.04}$. Other model equations to estimate the water content at the soil water tension of 10KPa [${\theta}(10KPa)$] and 1.5MPa [${\theta}(1.5MPa)$], which are required to ${\theta}^*$ were developed by using scale factors of sand(S) and silt(Si) content and organic matter content(OM) as foilows : ${\theta}(10KPa)=26.80-3.99ln[S]+2.36{\sqrt{[Si]}}+2.88[OM]$ ($R=0.81^{**}$) ${\theta}(1.5KPa)=15.75-2.86ln[S]+0.55{\sqrt{[Si]}}+0.70[OM]$ ($R=0.76^{**}$) The measured and estimated values of ${\theta}(1/30MPa)$ on the 205 soil samples were highly correlated on 1 : 1 corresponding line with $R=0.85^{**}$.

• Korean Journal of Weed Science
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• v.5 no.1
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• pp.63-72
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• 1985

To establish the method of integrated weed management in rice nurserybed, phytotoxic factors of herbicide and antidote efficacy were evaluated at the Yeongnam Crop Experiment Station in 1982 and 1984. Seven hundred eighty four research items were carried out as weed control research since 1961. While 65% of these were belonged to rice research, only 6% was attributed to nurserybed among rice research. More herbicidal phytotoxicity exhibited when seedbed was pressed just after seeding than sand covered or uncovered seedbed and also this phytotoxic symptom enhanced by using intact seed compared to pregerminated seed. Rinsing practice of seedbed reduced the phytotoxic effect of butachlor and this effect was more pronounced with the number of rinsing operation increase and at the pressed plot. However, herbicidal efficacy was not significantly decreased by rinsing operation. Growth of rice seedling hardly affected where the herbicide was absorbed through root only compared to absorption from both of root and shoot for pyrazolate, butachlor and thiobencarb. Herbicide antidote `CGA 123'407' completely protected from the phytotoxic effect of pretilachlor without arising any adversal effect in weed control. However, without antidote, pretilachlor showed the most severe phytotoxic symptom among used herbicides.