• Korea Journal of Hospital Management
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• v.28 no.1
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• pp.37-51
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• 2023

Purposes: There exist many non-covered services that the National Health Insurance does not cover, and thus, their prices are set by individual health care providers. However, little study has been done to investigate how hospitals set prices for those services. The purpose of this study is to examine the relationship between ownership, profitability, and prices of those services for a sample of general hospitals. Methodology/Approach: Data regarding the prices of major non-covered services (e.g., upper-level hospital room fees, MRI, Da 7inci robot surgery, and LASIK) were obtained from the Health Insurance Review and Assessment Service and the financial information, as well as other characteristics, were derived from the financial reports from the Korea Health Industry Development Institute. Descriptive statistics, t-tests, and multiple linear regression analyses were used to test the relationship between the independent variables and the dependent variables. Findings: Hospitals owned by private universities appeared to have higher prices for non-covered services while regional public hospitals tend to have lower prices. Profitability, measured by operating margin, was not significantly related to the prices. Hospitals that charge higher prices were more likely to be located in the capital area (Seoul, Incheon, and Gyeonggi), and to employ larger number of personnel. Practical Implications: Public hospitals tend to charge lower prices for non-covered services. Relative market power appears to be related to pricing. Further research is needed to investigate whether such a relationship varies over time and its effects on the quality and access.

• Journal of Venture Innovation
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• v.3 no.2
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• pp.95-109
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• 2020

The source of value-added creation in modern times has been transformed from material to man's value-added generating power, and ownership of the means of production has been converted from a particular landlord, capitalist to a person with value-added capacity, and a system of capital participation is needed beyond the profit-sharing system or performance incentive system in which workers of an enterprise participate in simple profits if they significantly increase the added value of the company. It is also necessary to introduce our private stock system as a means of addressing the problem of capital bias and for the stable development of capitalism. The purpose of Employee Stock Ownership Plans is to improve the economic and social status of workers and promote labor-management cooperation by allowing workers to acquire and hold shares of the stock company in which the employee ownership association is established through the employee ownership association, but the reality is that our stock ownership system has failed to achieve its purpose due to insufficient protection against the employee. In terms of welfare, the acquisition of our company shares should include active government support for the welfare of workers' ownership on a social welfare level rather than on the logic of the capital market, and in terms of investment, it would not be appropriate to apply the regulation for investor protection to see workers' acquisition of our company shares as 'investment' in the view of workers' willingness to own shares on the stock market. Therefore, as a way to support and deregulate employee's stock acquisition, 1. Expanding direct support, such as tax support, 2. As employee's stock ownership association is being discussed as a division's nature, it is less effective in terms of various management, not investment, and 3. Those who own stocks with 1% of the company's shares and 300 million won in face value will be classified as major shareholders. As a way to reduce the risk of management of our company owners and cooperative funds, As a measure to reduce the risk of management of our company owners and cooperative funds, only our employee shareholders' association shall manage the fund in a long-term deposit, and even though our employee's stock is managed by the association or company after the end of the deposit period, the management of each employee shall be allowed and In terms of improving the utilization of our company's stock and fund, 1. Employee's stockholders are prohibited from lending during the deposit period, but it is necessary to improve profitability by allowing them to borrow under strict restrictions, 2. It is necessary to make the use of the employee's welfare funds available for the preservation of losses, and to stipulate the redemption obligations of unlisted companies in order to improve the redemption system of our company.

• Journal of Distribution Research
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• v.17 no.5
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• pp.39-57
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• 2012

The unabated influx of micro businesses has turned the Korean retailing market to a rat race, which causes severe financial distress for micro business owners due to heavy competition. The woes of these micro business owner's are exacerbated by the presence of large scale distributors such as Super Supermarket(SSM) and large discount stores. In summary, the Korean retail market is overburdened an uneconomically viable. Retailing has low barriers to entry which attracts unskilled labor or those with little capital. These start-ups have low opportunity costs since they would make low wages elsewhere in the economy. Thus, these owners are content with relatively low returns on their investment. These 'subsistence ventures' are maintained for economical viability rather than economic growth. These 'subsistence ventures' intensifies competition among small-scale businesses. The presence of large retail corporations also aggravates the situation. The recent stagnation of the economy has worsened the retail market in Korea. The overwhelming competition solidifies the coarse structural system and the prolonged economic sluggishness has increased the risk of insolvency for micro business owners. As the economy continues to stagnate, the imminent risk in retailing market will rise up to surface threatening economic stability. More systematic inflows and outflows of retailers are required in order to redress this structural problem. It has been empirically shown that the self-employment rate is high in Korea compared to other OECD countries. To draw the comparison of self-employment rate by industry, Korea shows high rates among transportation, whole sale, retail, education, lodging, and restaurants. In the case of the transportation and education service sectors, this high rate can be explained by the idiosyncratic nature of Korean culture. In the transportation sector, political policies favor private cap service and private freight carriers. In the education service sector, Koreans put particular emphasis on education that leads to many private institutions that outnumber other OECD countries. For these singular reasons, Korea maintains high micro business, self-employed rates particularly in retailing. A comparable nation is Japan, with its similar social, economic, cultural environment among OECD countries. Unlike Korea, Japan has much lower rates of micro business which continues to decrease. Also Korean retailers are much more destitute than Japanese. The fundamental problem of Korean retailing is the involuntary exit of these 'subsistence ventures,' micro businesses with low margins, in which a small drop in demand can lead to financial difficulties for the owner. This problem will be exacerbated when Korean babyboomers retire and join the micro business ventures. The first priority in order to cope with the severity of oversupply in retailing is to provide better opportunities for the potential self-employers. There should be viable alternatives to subsistent ventures. Strengthening the retirement program, scrutiny of exit process, reconfiguration of policy funds are the recommendations.

• Journal of Korean Society of Forest Science
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• v.80 no.1
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• pp.72-81
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• 1991

This study was carried out to provide necessary information for improving quarrying industry management in Korea. The results of the study are summarized as follows : 1. In aggregate and building-stone quarrying firms the managers over 40 years of age are 97% and 89.1%, the ones above education level of high school are 90% and 85% and the ones not more than 10 years of quarrying experience are 70% and 52%, respectively. Accordingly it can be pointed out that most of the managers of two types of firms are relatively old, have high educational background, while quarrying experiences of building-stone firm managers are longer than that of aggregate firm managers. 2. Most of the management forms are social corporation(60%) for aggregate quarry firms and private management(76%) for building-stone firms. Average areas of permitted stone-pits of aggregate and building-stone quarries are about 2.86ha and 1.66ha respectively. That is, aggregate quarrying firms are carried on a larger scale than building-stone quarrying firms. 3. The yearly average product of aggregate quarrying firms has increased steadily from $88.961m^3$ in 1985 to $144.028m^3$ in 1988, while, in case of building-stone quarry firms, it has significantly increased from $4.155m^3$ to $19.462m^3$ from 1985 to 1987, but reduced to $13.400m^3$ in 1988. Unstable production activities of building-stone quarrying firms may require continuous government support. 4. Major cost items are equipment rental, depreciation, salaries, repair, maintenance for aggregate quarrying firms, and salaries, depreciation, fuel, tax for building-stone quarrying firms. The yearly average rate of return is about 9.7% for aggregate quarry firms and 2.6% for building-stone quarry firms. It can be pointed out that aggregate quarrying firms is better managed than building-stone quarrying firms. 5. The production elasticity of salary for aggregate quarrying firms is 0.495, that of employees is 0.559, and that of capital service is 0.513. The sum of the elasticities is 1.257>1. Fur building-stone quarrying firms, that of employees is 0.492, that of variable costs is 0.192, and that of capital service is 0.498. The sum of elasticities is 1.172>1, thus denotes the increasing returns to scale for both types quarrying firms. 6. The ratio of marginal value product to opportunity cost of empolyees is 2.54, that of variable costs is 3.62, and that of capital service is 1.45, in aggregate quarrying firms. That of employees is 2.47, that is variable costs was 2.34, and that of capital service is 19.67 in building-stone quarrying firms. Therefore the critical factors for more expansion of management scale in aggregate quarrying firms are variable cost and employees, and are capital service in building-stone quarry ing firms. 7. The break-even points of stone sales are about 0.587 billion won and 0.22 billion won in aggregate and building-stone quarrying firms respectively. The optimum sales Level for profit maximization are about 2.0 billion and 0.5 billion in aggregate and building-stone quarry firms respectively.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2004.11a
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• pp.175-181
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• 2004

A construction project of Incheon 2nd bridge, which is connected between the Incheon Song-Do New Town and the Incheon International Airport in Young-Jong-Do, have been proposed by the private capital in 1999. But the optimal span width in the bridge main span have not been decided in spite of the three investigations into the feasibility of ship's safe transit in this planned bridge. In this paper, we study the optimal main span width according to the traffic volume in the future traffic and the ship maneuverability of maximum size aspect. The result cf this study, Incheon 2nd bridge main span design is required to design two-way traffic scheme and 1,000m span width, which will satisfy the safe transit from the viewpoint of the traffic volume in the future traffic and the ship maneuverability maximum size.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2004.11a
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• pp.337-342
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• 2004

A construction project of Incheon 2nd bridge, which is connected between the Incheon Song-Do New Town and the Incheon International Airport in Young-Jong-Do, have been proposed by the private capital in 1999. But the optimal span width in the bridge main span have not been decided in spite of the three investigations into the feasibility of ship's safe transit in this planned bridge. In this paper, we study the economic analysis on port operational efficiency according to traffic schemes, me-way or two-way of vessels over 10,000G/T, in the bridge main span of this bridge. In this comparative result, total queueing time due to the one-way in the bridge main span is evaluated 20,362 hours in 2011 and 24,544 hours in 2020. Therefore the demurrage cost and the accumulation cost of freight are evaluated 19.7 billion won in 2011, and 23.3 billion won in 2020, then total accumulated costs during 33 years from 2008 until 2040 are evaluated about 768..9 billion won.

• Management & Information Systems Review
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• v.29 no.4
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• pp.23-44
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• 2010

This study examines the value-relevance of accruals and discretionary accruals. Also, by examining the effects of the corporate life-cycle on these relationship, this study is able to provide evidence of the value-relevance of accruals and discretionary accruals measures in the economic context of life-cycle theory. This study uses results based on life-cycle classification methods developed by Anthony and Ramesh(1992), adjust Jones model and Dechow Dechev(2002) model. We classify firms using individuals variables(sales growth, capital expenditure growth, employee growth) and then use a composite score obtained from all variables for classification. Our sample consists of 272 firms listed in the Korean Stock Exchange during 14 years(1996-2009). Our final sample for regression variables consists of 2,448 firm-year observations. This evidence implies that the value-relevance of accruals and discretionary accruals in the growth and mature stage can have positive impact on the price but in the decline the value-relevance of accruals and discretionary accruals can have negative impact on the price. The results mean that discretionary accruals communicate managements' private information in the growth stage, but. earnings management in the decline stage. The results of this study suggest that corporate life cycle stages influence the value-relevance of accruals and discretionary accruals measures.

• Journal of the Economic Geographical Society of Korea
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• v.14 no.4
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• pp.453-466
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• 2011

The main aim of this paper is to explore the Korean development strategy in the context of trajectories of the economic development from 1961 to 2010. The fast and high growth in the period of 1961 and 2010 resulted from the 'export-oriented industrialization' through a combination of 'mass production-mass exports' and '(relatively) high productivity-low wages' up to the late 1980s, a mixture of 'mass production-mass exports' and '(relatively) high productivity-high wages' to the late 1990s, and a combination of the reformation of public and private sectors for overcoming the Korean financial crisis and the gradual improvement of the marketization and social safety net since 2000. With respect to this model of development, the global and national modes of regulation were established. Along with the formation of endogenous forces (as the national mode of regulation), that of exogenous forces (as the global mode of regulation) are the important rules of the game at the global level, which lead and stabilize the process of accumulation by the export-led industrialization in Korea. In this respect, the establishment of global modes of regulation is led by exogenous forces such as trade regulations, exchange rates, global-Korean industrial relations, and global regulations of loans to developing countries. On the other hand, the national modes of regulation are formed by endogenous forces such as the triangular relationship of the state, capital and labor.

• Korean journal of communication and information
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• v.67
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• pp.152-176
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• 2014

Public opinion has dramatically shifted from positive to negative in Korea society especially since the IMF crisis. Such terms as 'aristocratic union', 'collectivism', 'damages on public interest' became a kind of conventional wisdom. Undoubtedly, media's representation has much to do with such a tantamount difference. This study thus attempts to understand the mechanism by analyzing media discourse related to labor strikes. For this purpose, this paper made a choice three cases including doctor-pharmacist dispute, general strike by truckers' solidarity, and Ssangyong Motor's strike. Total 217 editorial pieces of , and conceived to be a representative newspaper of ideological stance were analyzed. Research showed that while paying particular attention to demoralizing labor strikes, shed positive light on such disputes by articulating fundamental causes hampered by pro-capital policies along with anti-labor law enforcement. The believed to be relatively a neutral one showed ambivalent attitudes toward those cases. More favorable and inclusive reporting were found in accordance with policy shifts as well. Media's selective partisanship for the sake of private interests is firmly believed to downgrading credibility on Korean journalism. Also is fair, balanced and less biased reporting over socal disputes a vital part in crystallizing social consensus. In this consideration, the authors hoped this study to provide an opportunity to contemplate on what would be desirable journalistic values in modern democracy.

• The Journal of the Korea Contents Association
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• v.18 no.4
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• pp.444-453
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• 2018

The study addresses the analysis on the financial determinants of corporate research and development (R&D) expenditure in finance. Overall level of R&D spending was estimated as one of the top-tier on a global basis and a majority of the expenditure was invested by large domestic firms in private sector. Consequently, financial factors that influence R&D intensity were empirically tested in the first hypothesis by using conditional quantile regression model for firms listed in KOSPI stock market in the post-era of the global financial turmoil. Firms in the groups of high- and low-R&D intensity were statistically compared to detect financial differences in the second hypothesis which was accompanied by the test of multi-logit model that included firms without R&D outlay. Concerning the results of the hypothesis tests, R&D spending of the prior fiscal year, firm size, business risk and advertising expense overall showed statistically significant impacts to determine the level. As an extended study of [1] that had examined financial factors of R&D intensity at the macro-level, the results of the present study are anticipated to contribute to maximizing shareholders' wealth in advance or emerging capital markets, when applied to find an optimal level of R&D expenditure.