• Title/Summary/Keyword: Market Failure

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A Study on the Public Interest of Collected Information (수집된 정보의 공익성에 관한 고찰)

  • Park, Kook-Heum
    • Informatization Policy
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    • v.26 no.1
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    • pp.25-45
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    • 2019
  • With the advent of the data economy, interest in using big data has increased, but conflicts with protecting personal information have been also steadily raised. In this regard, major countries are accelerating use of big data by exempting de-identified, pseudonymous personal information from protection. However, these policies have been made without the understanding that the economic value of personal information has been actually changing slowly. This paper presents the concept of 'collected information' and defines it as having public interest and therefore, not the exclusive property of the collector of such information. The paper shows the collected information has public interest in terms of personal information protection, connectivity, and universal service and public goods. It also specifies that the 'data governance' cannot be applied to the current data utilization framework that depends upon the holder's consent; rather, it raises the need to improve the practices of information provision consent or provide the beneficiary right of information use to the information holder in order to ensure the proper 'data governance' that will turn market failure into success.

Implications from Shipbuilding Industry Failure Case (조선산업 실패 사례를 통해서 본 시사점)

  • Park, Hui-Yo;Han, Jeoung-Hee
    • Journal of Industrial Convergence
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    • v.14 no.2
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    • pp.33-38
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    • 2016
  • The Korean shipbuilding industry, which started in the 1970s with the advance of three shipbuilding companies, has been ranked as the world's largest and most successful model of the heavy and heavy chemical industry in the world since the 1990s, and has become a driving force for Korea's economic growth for several decades, including job creation and trade surplus. The domestic shipbuilding industry has won a lot of orders in favorable market environment, expanded facilities and manpower, built many ships and delivered them to shipowners, earning a lot of foreign currency and creating a 'successful myth.' However, when the global economic crisis broke out in 2008, shipbuilding in Chosun was stagnant and shipbuilding orders sharply decreased.As the facility and manpower increased in the boom period, the economy and the facilities become overcrowded as a result of the crisis, signs of a crisis in 2013 begin to appear. In 2015, three major Korean shipbuilders lost more than 6 trillion won in operating losses. Now, Korea's shipbuilding industry is facing a crisis such as massive insolvency and restructuring. Would not it have been possible to prevent the loss and restructuring of a trillion won if we recognized the recession of the global economy and understood the appropriate timing of technological innovation and prepared countermeasures against the crisis? Therefore, we analyze trends and trends of global shipbuilding industry such as Europe, China, and Japan in the competition structure of the shipbuilding industry and identify the problems of our shipbuilding industry and suggest suggestions.

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Data Availability Zone for backup system in Cloud computing service (클라우드 컴퓨팅 서비스 백업을 위한 데이터 가용영역 방법론)

  • Park, Young-ho;Park, Yongsuk
    • Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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    • 2014.10a
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    • pp.366-369
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    • 2014
  • Recently been viewed as a core technology of the IT industry, cloud computing services. It is expected that the market for cloud services industry showed a growth rate of 18.9% annually, to form a scale of $ 1,330 billion dollars in 2013, and to form a 1,768 billion dollars in 2015. Growth of cloud computing services industry, provides the operational efficiency and reduce costs for many companies, but the risks associated with it is also increasing. There is a problem that phenomenon is to lose control of the data on features of the cloud service, more data is gathered in one place, when a failure occurs, it is removed simultaneously the data of all devices. therefore, in the present paper is investigate the area a quick recovery with up to the problem and secure data storage INT the cloud computing service is available in only the data in the cloud service possible.

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A Study of Incentive Problems of Welfare State (복지국가의 인센티브 문제에 관한 연구)

  • Cheon, Byung You
    • 한국사회정책
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    • v.20 no.2
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    • pp.69-96
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    • 2013
  • This paper is to critically review the economic reasoning of non-sustainability of welfare state due to its intrinsic incentive problems and to see how the nordic welfare state responds to them. The welfare state as a political design of state to pursue equality has social insurance as its main economic function. It survives market failure of private insurance to contribute to human capital investment and industrial restructuring. The universal tax-financed welfare state, however, has the problem of tragedy of commons such as reduced work incentive and work ethics. But, the existing nordic welfare state overcomes it through employment-focused policy arrangements, maintenance of work ethics and benefits moral, incentive mechanism of wage-compression, public educational investment and its complementation with social security. The Nordic model shows that problems of incentive and moral are not about those of theory and reasoning, but about their reality which policies and institutions could respond to.

Measuring Psychological Support for the Unemployed: The Case of Kakao NEET Project

  • Jeong, Jaekwan;Park, Kahui;Hyun, Yaewon;Kim, Daewon
    • KSII Transactions on Internet and Information Systems (TIIS)
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    • v.15 no.4
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    • pp.1502-1520
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    • 2021
  • This paper attempts to investigate Korean youth Not in Education, Employment and Training (NEET) and how daily activities and community participation may influence their positive emotions and job search desire. First, we conducted a focus group interview with 16 NEETs who participated in the Kakao NEET Company project. The project allowed participants to experience employment by founding a virtual company in which each participant selected a daily activity to perform as part of the company's operations. Second, the interview responses were categorized and assigned emotional values using the card sorting technique and multi-dimensional analysis (MDS). A total of 11 emotional values were derived through this process. Finally, a social network analysis was conducted in order to measure the density of relations among the emotional values. Results suggest that immersion, confidence, belongingness were the three highest values evaluated by participants. Furthermore, network diagrams imply that the stronger participants perceived social support and belongingness with others, the stronger their responsibility grew, further leading them to establish steady goals. In particular, the high eigenvector score for "desire for job" suggests that emotional values are sequentially connected to the immersion-social support-responsibility-goal-job desire. This sequence suggests that digital services that are developed with the aim to enhance social values such as the Kakao NEET Project may engender motivation and confidence in youth NEETs. The overall results suggest that a systematic approach to policymaking should be considered in order to provide fundamental solutions and expand opportunities for social participation and emotional comfort, as social isolation due to low self-esteem has been reported as one of the reasons for NEETs' failure in the labor market.

Classification and Risk Analysis of Stablecoins

  • Kim, Junsang
    • Journal of the Korea Society of Computer and Information
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    • v.27 no.12
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    • pp.171-178
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    • 2022
  • In this paper, we propose a classification method according to the type and characteristics of stablecoins for risk analysis, and analyze the risk factors of each stablecoin based on this classification. First, this paper explains the technologies and ecosystem of blockchain and decentralized finance(DeFi) to understand stablecoins. In addition, the operation principle of the major stablecoins currently released and used is explained for each proposed classification type. Based on this, the risk type and risk factors of each stablecoin are derived. The risk types proposed in this paper are classified as defegging, liquidation, and exploit, and the risk factors are classified as depegging due to reliability of operator, depegging due to reliability of algorithm, depegging due to failure of algorithm, liquidation due to high volatilty and oracle attack. Based on the proposed classification, we analyze the risk factors of major stablecoins currently circulating in the crypto market.

Study of Necessity of Advanced Integrated Digital Engineering and Management Tools (선진통합형 디지털 엔지니어링 및 경영 도구의 필요성 연구)

  • Luke (Yang Ouk) Kim;Kyung Ho Lee
    • Journal of the Computational Structural Engineering Institute of Korea
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    • v.36 no.1
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    • pp.27-38
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    • 2023
  • How the port, shipping, shipbuilding, and vender industries in Korea can have a seamless value chain through their digitally smooth cooperation by applying the latest information and communications technology through the "4th industrial revolution" was examined. Also considered was the proposition that the value chain should be a smart, seamless value chain among industries with successful hyperconnection. Their cooperative relationships were defined, and the crucial elements for the sustainable development of these industries were considered. As a result, the direction for achieving environmental, social, and governance management by realizing decarbonization through today's digitalization could be studied. In particular, the importance of digitization as a way to respond to the future market from the perspective of small and medium-sized enterprises and the role of digitization realized by small and medium-sized equipment companies in the overall industry were examined. The results simultaneously show the state of linkage between industries and the reason why the value chain must maintain a smooth relationship. In addition, using the lessons learned from recent failure cases from the Korean shipbuilding industry as a cornerstone, the direction for creating a strategic pathway for intelligent connection was investigated.

Preparation of Flower-Like Al2O3 Nanostructures by Hydrothermal Synthesis and Study of Thermal Properties of BN/Al2O3 Composites (수열합성법을 이용한 Flower-Like 형상의 Al2O3 Nanostructure 제조 및 BN/Al2O3 복합체의 방열 특성 연구)

  • Noh Geon Song;Yong Jin Jeong
    • Journal of the Korean Institute of Electrical and Electronic Material Engineers
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    • v.36 no.6
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    • pp.633-637
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    • 2023
  • Recently, with the development of the smart device market, the integration of high-functional devices has increased the heat density, causing overload of the device, and resulting in various problems such as shortened lifespan, performance degradation, and failure. Therefore, research on heat dissipation materials is being actively conducted to realize next-generation electronic products. The heat dissipation material is characterized in that it is easy to dissipate heat due to its high thermal conductivity and minimizes leakage current flowing through the heat dissipation material due to its low electrical conductivity. In this study, flower-shaped Al2O3 and BN composites were engineered with a simple hydrothermal synthesis approach, and their thermal conductivity characteristics were compared and evaluated for each synthesis condition for the application to a heat dissipation material. Spherical BN and flower-shaped Al2O3 were easily obtained, and SEM/EDS analyses confirmed the uniform presence of BN between the Al2O3, and it can be expected that these shapes can affect the thermal conductivity.

Enhancing Existing Products and Services Through the Discovery of Applicable Technology: Use of Patents and Trademarks (제품 및 서비스 개선을 위한 기술기회 발굴: 특허와 상표 데이터 활용)

  • Seoin Park;Jiho Lee;Seunghyun Lee;Janghyeok Yoon;Changho Son
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.46 no.4
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    • pp.1-14
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    • 2023
  • As markets and industries continue to evolve rapidly, technology opportunity discovery (TOD) has become critical to a firm's survival. From a common consensus that TOD based on a firm's capabilities is a valuable method for small and medium-sized enterprises (SMEs) and reduces the risk of failure in technology development, studies for TOD based on a firm's capabilities have been actively conducted. However, previous studies mainly focused on a firm's technological capabilities and rarely on business capabilities. Since discovered technologies can create market value when utilized in a firm's business, a firm's current business capabilities should be considered in discovering technology opportunities. In this context, this study proposes a TOD method that considers both a firm's business and technological capabilities. To this end, this study uses patent data, which represents the firm's technological capabilities, and trademark data, which represents the firm's business capabilities. The proposed method comprises four steps: 1) Constructing firm technology and business capability matrices using patent classification codes and trademark similarity group codes; 2) Transforming the capability matrices to preference matrices using the fuzzy function; 3) Identifying a target firm's candidate technology opportunities using the collaborative filtering algorithm; 4) Recommending technology opportunities using a portfolio map constructed based on technology similarity and applicability indices. A case study is conducted on a security firm to determine the validity of the proposed method. The proposed method can assist SMEs that face resource constraints in identifying technology opportunities. Further, it can be used by firms that do not possess patents since the proposed method uncovers technology opportunities based on business capabilities.

Analysis of the Impact of US, China, and Korea Macroeconomic Variables on KOSPI and VKOSPI (미국·중국·한국 거시경제변수가 한국 주식수익률 및 변동성 지수 변화율에 미치는 영향 분석)

  • Jung-Hoon Moon;Gyu-Sik Han
    • Asia-Pacific Journal of Business
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    • v.15 no.1
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    • pp.209-223
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    • 2024
  • Purpose - This article analyzes the impact of macroeconomic variables of the United States, China, and Korea on KOSPI and VKOSPI, in that United States and China have a great influence on Korea, having an export-driven economy. Design/methodology/approach - The influence of US, China, and Korea interest rates, industrial production index, consumer price index, US employment index, Chinese real estate index, and Korea's foreign exchange reserves on KOSPI and VKOSPI is analyzed on monthly basis from Jan 2012 to Aug 2023, using multifactor model. Findings - The KOSPI showed a positive relationship with the U.S. industrial production index and Korea's foreign exchange reserves, and a negative relationship with the U.S. employment index and Chinese real estate index. The VKOSPI showed a positive relationship with the Chinese consumer price index, and a negative relationship with the U.S. interest rates, and Korean foreign exchange reserves. Next, dividing the analysis into two periods with the Covid crisis and the analysis by country, the impact of US macroeconomic variables on KOSPI was greater than Chinese ones and the impact of Chinese macroeconomic variables on VKOSPI was greater than US ones. The result of the forward predictive failure test confirmed that it was appropriate to divide the period into two periods with economic event, the Covid Crisis. After the Covid crisis, the impact of macroeconomic variables on KOSPI and VKOSPI increased. This reflects the financial market co-movements due to governments' policy coordination and central bank liquidity supply to overcome the crisis in the pandemic situation. Research implications or Originality - This study is meaningful in that it analyzed the effects of macroeconomic variables on KOSPI and VKOSPI simultaneously. In addition, the leverage effect can also be confirmed through the relationship between macroeconomic variables and KOSPI and VKOSPI. This article examined the fundamental changes in the Korean and global financial markets following the shock of Corona by applying this research model before and after Covid crisis.