• Korean Journal of Social Welfare
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• v.46
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• pp.290-318
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• 2001

In 1981, Chile has fundamentally reformed the public pension system from the pay-as-you-go system (PAYGs) to the full funding defined contribution system managed by the private funding companies. The Chilean privatization reform influenced not only the neighbor South American countries but also the advanced countries. The United Kingdom contracted out the state earning related pension system. Australia and Sweden recently introduced the private investment accounts system. And now the hot debates on the privatization of the social security pension is going on in the United States of America. This wind of privatizing the public pension system is being backed up by the New Liberalism, the nowadays' strongest ideology. Besides, the theoretical and idealogical debate between the World Bank and the ILO/ISSA was happened in the middle of 1990s. The World Bank, the supporter of the international financial capital, insisted the introducing of the full funding individual accounts system and the abolition of the existing PAYGs. The ILO/ISSA apposed the World Bank's policies and advocated the moderate reform of the PAYGs. In this paper, I reviewed the Chilean reform, the World Bank's report and the opposing argument of the ILO/ISSA against it, and analysed the core issues of the two sides. Also, I tried to present the suggestions to the Korean public pension systems. Through the discussing the debate, we made certain of the importance of the basic issues in the social security system like equity vs. adequacy, inter-generational redistribution vs. intra-generational redistribution and welfare vs. economy, once again.

• Journal of the Society of Disaster Information
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• v.6 no.2
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• pp.67-85
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• 2010

The purpose of this consideration is to present fundamental data for understanding and development the historical approach of Korea Protection by re-examining Royal guarding system through the history in Early Chosun Dynasty. This paper initiated from this critical mind seeking to understand the changing phase of Korea Guarding system, and fundamentally to find the future-oriented ways for the Guarding system. The main materials of history in Early Chosun Dynasty were re-examined, investigated and analyzed and the main references are a code of laws and official as well as private documents such as Kukjo-Oreyeui. Guards system for Royal prince has been found in Byung-jeon of Kyungguk-daejon. he Guards organization has dual system, one was Gumgun which was a private military man and the other was Wuibyung which was a Central military man. On the contrary, central military man were normally protected the royale palaces, but when the King come and go they accompanied and protected the King in safety zone. But just in case they did a job as a member of capital protection military affairs. A question of finance was the reason why there had been dual protection system due to financial matter. If it increased number of man it would pay much money, therefore central military man who has no relevance to national finance were supplied as members of military affairs for the protection of king.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.663-673
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• 2020

To enhance the performance of privatized firms and state-owned enterprises, Vietnamese government set up a specialized monitoring body named State Capital Investment Corporation (SCIC) in 2006 to supervise their performance. This motivated us to conduct this study to investigate the effective control of SCIC on privatized firms' performance. We collected the annual reports of 500 non-financial privatized firms listed on HSX and HNX during the period from 2007 to 2017 from Thomson Reuters. Observations with missing values were removed and trimming outliers were implemented resulting in a dataset comprising of 4146 firm-year observations. We applied a quadratic regression model of state ownership on firms' performance, and applied the method of Baron and Kenny (1986) to test the moderating effect of SCIC control. To fix "selection bias" that may occur and result in endogeneity of moderator (M), we utilized the PSM technique to analyze the marginal effect of the moderator (SCIC) on privatized firms' performance. Our findings indicate a positive moderating role of SCIC on the relationship between the state ownership and firms' performance. This implies that there is a positive effect of liberating the management of the private firms from government control, which also means that lesser the intervention of government in the day to day operational activities of a private firm, better the performance of a privatized firm is.

• Journal of Korean Port Research
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• v.13 no.2
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• pp.215-232
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• 1999

Privatisation has emerged within the past few decades as one of the most significant challenges to public ports and their governments throughout the world. More than forty countries have committed to some form of port privatisation thus far and they will quite likely be joined by dozens more by the turn of the century. A decision to privatise ports can be driven by a variety of forces. The most obvious is to relieve a financially strapped government by turning to the private sector for an infusion of capital required to modernise and sustain port operations, or to bolster the national treasury. Inefficient and costly port operations can seriously impair the competitiveness of a nation’s export industries and artificially raise the cost and thus constrain the availability of imported goods. Privatisation in certain circumstances therefore holds the promise of stimulating economic growth particularly for those whose livelihood depends directly upon port activity and trade. The main objective of this paper is first of all, to introduce a variety of methods of port privatisation after reviewing the reason why port facilities should be privatised. This paper also aims to make some proposals with which a port privatisation process in Korea can be improved after summarising the present Terminal Operating Company(TOC) system propelled by Ministry of Maritime Affairs and Fisheries.

• Journal of the Architectural Institute of Korea Planning & Design
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• v.35 no.7
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• pp.3-14
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• 2019

This study is to analyze the social integration plan characteristics of public rental housing community facilities in England, Singapore and Korea. The purpose of this study is to present the direction of social integrated community facility planning and management system for the revitalization of the Korean public rental housing community. To this end, similarities and dissimilarities are derived by comparing cases of community facilities in apartments. Methods of this study include literature survey, analyzed government web sites in overseas cases. Also domestic cases are analyzed qualitatively through field visits, expert interviews, and internal data review. The results of this study are as follows: First, various community facilities plans are needed to accommodate the role of private and public spaces. Second, activate the professional community facilities operation system with public-private cooperation. Third, Community facilities should be planned as local infrastructure.

• Journal of Labour Economics
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• v.44 no.1
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• pp.169-204
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• 2021

We empirically verified whether there are different educational investment behaviors according to university admissions, using the Korean Education and Employment Panel data. The results are as follows; the average annual private education cost and the average amount of time spent studying alone per week of rolling admission type were lower than those of regular admission type. Also, rolling admission applicants had longer leisure and sleeping hours, such as watching TV and using computers. These results show the possibility that the university admission system will change the educational investment behavior. Furthermore, there is a possibility to induce the human capital investment to be made efficiently.

• Journal of the Korea Safety Management & Science
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• v.24 no.2
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• pp.67-76
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• 2022

Power generation construction projects involving large amounts of capital can affect the survival of a company along with huge economic losses in the event of a business failure. In general, private companies are organizations with challenging risk taking tendencies while public companies have a risk averse tendency to avoid risk, so these differences in organizational tendencies make it difficult to respond to risk. In particular, public companies are more likely to fail than private companies because they choose the contradiction of risk picking to enter overseas markets with high uncertainty despite their tendency to risk averse due to the nature of the organization. Therefore, these organizations need risk management techniques that reflect a risk-averse strategy. Accordingly, this paper analyzes the risk management research papers of the existing overseas development EPC business in order to find the risk management techniques related to the organizational tendencies of public companies and proposes "establishing a performance audit system for risk management of the organizational tendencies of public companies" as a way to extract the risk factors through the examples of overseas development projects of public companies and to manage the organizational tendencies of public companies that affect them.

• KDI Journal of Economic Policy
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• v.27 no.1
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• pp.81-122
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• 2005

The paper aims to establish the characteristics of the Korean firms' R&D investment and to estimate the private rate of return to R&D investment. For the empirical analysis, a balanced panel data is constructed with 695 firms on 8 year observations. The panel data enables to characterize R&D investment of the Korean firms, which is mostly conformed to the 'stylized facts' of R&D investment that found in the previous studies on foreign firms. Klette model was used to estimate the private rate of return on R&D investment and depreciation rate of R&D capital. The paper estimates that the rate of return on R&D investment is 10.5% on average or 16.4% on median for the whole industry whereas manufacturing firms show 10.4% on average or 16.4% on median. The depreciation rate was estimated about 32.9% for whole industry, where it ranges from the minimum 11.6% for metal industry and 49.5% for services. The median estimate of the rate of return for R&D investment of Korean firms is roughly two times higher than real interest rates for the same period, which implies that R&D investment allows sizable rent in addition to the opportunity cost of capital investment.

• The Journal of the Korea Contents Association
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• v.18 no.9
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• pp.584-593
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• 2018

The startup, which is a common noun to start a small business, has been recently one of main targets for policymakers due to its important role for job creation and considerable potential for sustainability of an economy. However, technological entrepreneurship decreased by 5.0% p from 2013 to 2016. The revitalization of entrepreneurial investment promoted by the government is mainly supported in fruitable venture companies at grow stage or 2~3 years before IPO through venture capital firms and angel funds. It is far from an investment at start-up. It is therefore necessary to motivate private investment to be active in the private start-up sector. In addition, the start-up investment requires institutional support and government support to meet the expectations of investors about the possibility of payback and profitability of private investment invested in the founding period. As a small entrepreneur at a comparably early stage in the lifecycle of business, investments for the startup are generally made by informal investors such as family, friends and fools, and their decision making processes are relatively non-programmed compared with ones for listed corporales such as venture capital and angel fund agency. This study focuses on analyzing decision making factors in investment, and verifying an impact of such factors, specifically the possibility of investment payback and investment profitability, in a decision-making process for the startup especially at the very early stage.

• Korean Security Journal
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• no.58
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• pp.195-213
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• 2019

「Security Services Industry Act」made in 1976 for the purpose of contributing to the good operation of services industry by establishing the requirements for promotion, development and systematic management of services industry has been since 26 times of overall revisions. Period division of private security through overall revision of 「Security Services Industry Act」 can be roughly divided into three periods. The first is a settlement period. It is a period when the present five business areas were completed rom 1976 to 2001. Beginning with facility and escort security in 1996, five types of jobs have been prepared. so far by adding personal protection in 1996, and machine and special security in 2001. The second is a quantitative growth period. It is a period when quantitative development is made on the institutional basis. As various culture, sports and arts events are increasing based on the demand of security services due to an increase in the people's sense of security, quantitative development was made, which additionally influenced the downward trend of capital and the possibility of having two jobs through revisions. The third is a qualitative growth period. From 2013 to the present is a period when quantitative growth has slowed and qualitative growth has been made. After the period of quantitative growth, the growth slowed down. However, by raising the criteria for permission of services industry through creation of a rule for the group civil petition, by raising capital, by institutionally compensating for diverse punishment regulations, by realizing the training hours for new security guards, by permitting private education, etc, the reliability and professionality of a security guard job has been to be recovered.