• Journal of Korea Trade
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• v.24 no.7
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• pp.38-53
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• 2020

Purpose - A financial crash triggers asset fire sales by foreign investors and, as a consequence, the price of domestic assets severely decreases. Domestic investors take advantage of these low prices by replacing foreign assets with domestic assets, which helps to alleviate the liquidity shock caused by foreigners. However, is the amount of capital retrenchment by domestic investors sufficient to protect the Korean economy from capital stop by foreign investors during financial crisis? This paper answers this question and suggests the implications of this phenomenon for the Korean economy. Design/methodology - We estimate the associations between capital stop and retrenchment and various financial crises such as banking, currency, debt, and inflation crises using the complementary log-log model. Specifically, we use data of gross capital flows to differentiate between the role of foreign and domestic investors in financial markets. Capital stop and retrenchment designate a sharp decrease in gross capital inflows and outflows, respectively. Findings - Capital stop is significantly associated with financial crises, especially currency and debt crises. This implies that increased risk aversion during times of financial turmoil encourages foreign investors to retrench their investments, worsening liquidity shocks. Conversely, capital retrenchment is not significantly associated with such crises. The results show that, although financial crises reduce gross capital outflows, the reduction is not as large as that with capital inflows. Originality/value - The contribution of this paper is threefold. First, this study investigates how domestic investors behave during times of financial distress by studying gross capital flows-not net capital flows. Second, we concentrate on sharp changes in capital flows during crises. Third, we examine the associations between capital stop and retrenchment and financial crises in general, not specific events.

• Korean Journal of Social Welfare Studies
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• v.42 no.1
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• pp.433-461
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• 2011

This study investigated changes and determinants of public pension generosity and pension spending in welfare states during the last retrenchment period. Path-dependency thesis, industrialization theory and power resources model were examined with the twelve welfare states from 1980 to 2007. The main results are as follows. First, the developments of benefit generosity and pension spending have been differently presented according to pension structure. Second, the cross-national pooled-time series analysis confirmed that pension structure is the most significant factors to determine the level of benefit generosity and pension spending. Third, the positive effect of population ageing on pension spendings were proved even without any changes of pension generosity. New social risks, however, have restrained the pension spending. Fourth, the power of the left party and labor union did not affect the pension policy, which implies that power resources theory cannot explain the development of pension policy in this retrenchment period.

• The Journal of Asian Finance, Economics and Business
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• v.10 no.1
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• pp.201-208
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• 2023

The coronavirus (COVID-19) pandemic poses disastrous effects on human lives and hinders global efforts to realize the Sustainable Development Goals (SDGs) by 2030. The study examined the effects of the pandemic on unemployment toward realizing the SDGs. The downsizing and collapse of businesses have forcibly left many unfortunate Malaysians jobless and without income. The situation may directly influence government efforts to achieve SDG 8 'Decent work and economic growth', which indirectly affects SDG 1 'No poverty', SDG 2 'Zero hunger', and SDG 3 'Good health and well-being'. Pre-and post-pandemic assessments on unemployment and retrenchment level by sector were performed by adopting observation and data comparison methods. Critical findings revealed that the unemployment rate has risen among males and females and the youth, as well as the number of retrenchments. The services sector, specifically the wholesale, retail, trade, and hotel industry showed the highest number of retrenchments. Some important unemployment issues were also covered in this study, including the demand for employment, the role of government and business, and the effect of the gig economy on the current employment landscape. The avenue for future studies can focus on additional societal effects that could prevent the country from attaining the SDGs by 2030.

• Korean Journal of Social Welfare
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• v.66 no.3
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• pp.231-251
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• 2014

Recently, Korean government documented the plan to cope with the situation related to rich pensioners of Basic old-age pension. The purpose of this paper is to verify that how many rich pensioners are existing and to evaluate government reform plan's validity and effect. Main results are as follows; firstly, if the definition of rich pensioners is on the top 10%, the proportion of them would form 2.9% of total. And then, an amount of expenditure for them is only 2.6% of total. Secondly, in terms of disposable income, debt, and transfer income from child, the household who would be applied by government's plan is not richer than other household who is in the same living standard. And then, if the government's plan enforced, the effect might be very small. Lastly, the plan of government will discriminate against persons who support their parent. As a result, Basic old-age pension will be worsen. This paper should underline that the government's reform is only the 'hidden' retrenchment strategy in order to introduce a standard of the obligation to support own parent in the state without scientific prediction and serious discussion of negative public opinion. That is why, this is the same as the 'Trojan Horse'.

• Proceedings of the Korean Institute of IIIuminating and Electrical Installation Engineers Conference
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• 1993.10a
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• pp.51-54
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• 1993

In this paper, it is proposed the the SCADA(Supervisory control and Data Acquisition) system in Apartment complex. The proposed SCADA system make use of the computer CRT(Cathod RAy Tube), which automatically observe the Electrical Facility, Elvator Facility, Fire Alarm Facility and process in the real-time data. In order to improve the hardware performance and the information process, the SCADA system composed of master-slave topology and decentralized the supervisory Facility. This system is expected the retrenchment of construction expenditure and the level-up of supervisory execution.

• International Journal of Railway
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• v.6 no.4
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• pp.131-138
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• 2013

We have studied the financial performance of Pakistan Railways and found that the financial indicator (net earnings ratio) of Pakistan Railways is consistently decreasing over the years, causing severe financial and operational crises. The implication of our study indicates that the '3Rs' Strategy (retrenchment, repositioning and reorganizing) should be put into practice and furthermore, favorable changes in environmental factors can also contribute towards organizational turnaround. This study would help the Government of Pakistan to think and plan more clearly about turnaround strategies that could improve the performance and growth of Pakistan Railways.

• Proceedings of the KSME Conference
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• 2007.05a
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• pp.837-842
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• 2007

Since construction materials have been towards larger and heavier, the rate of accident associated with installation works of heavy construction materials is increasing. Installation works of heavy construction materials lead to frequent accidents, increasing the WMSDs(Work-Related Musculo-Skeletal Disorders) in construction site. In case of installation work of heavy glass ceiling, the rate of accidents such as falling and collision is increasing as well. This paper describes a ergonomic design of working platform(deck) in a glass ceiling installation robot. As well as, a design of working process is considered to accomplish an efficient installation work. As a result of the design, an installation work of heavy glass ceiling by the robot will be expected safety assurance and retrenchment of the construction cost and period.

• Journal of Korean Library and Information Science Society
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• v.30 no.3
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• pp.97-116
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• 1999

The purpose of this paper is to develop a model of the strategic management of university library in Korea. The model from this study is summarized as follows: 1. External environment is divide into opportunities and threats. 2) Internal environment is divide into strengths and weakness. We can formulate a management strategy on the basis of library environment element from environment analysis and library situation. 2. Formulation of strategic management are formulated through three stages. 1) Library strategy: $\circled1$Growth strategy $\circled2$Stability $\circled3$Retrenchment 2) Business(competition) strategy 3) Functional strategy: $\circled1$Material organization strategy $\circled2$Collection strategy $\circled3$Reference service strategy $\circled4$Human resource management strategy $\circled5$marketing strategy 3. Implementation of strategic management 1) The chief of strategy implementation 2) Programs, budgets and procedures 3) Structure and strategy implementation 4) culture and strategy implementation 4. Evaluation and control of strategy implementation.

• 제어로봇시스템학회:학술대회논문집
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• 2001.10a
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• pp.170.4-170
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• 2001

Safety and confidence of the communications network is the main purpose for the unmanned control systems, in terms of appling a satellite communications network to the water treatment and supply plant communication system. Since the unmanned control systems were applied in the industrial site, the lack of confidence on the communications network has been presented continuously as a main problem for the unmanned and automation systems. Therefore, satellite communications network was presented as one of the methods to solve this problem, supporting the wire used telecommunication. In addition to the safety of a communications network, there is the retrenchment of expenditure. This dual communications network has ...

• Journal of the Korean Society for Railway
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• v.8 no.5
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• pp.470-476
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• 2005

RCM developed by American air industry in early 1960, its process is most realistic for some physical assets and it permits the system to maintain given function status through decision of demand about optimum maintenance. Therefore, many industries have selected RCM technique and have carried out RCM in order to solve many problems concerning maintenance management as improvement of reliability and availability of facilities, removal of hazard element about break down and retrenchment of maintenance cost. Through the execution of RCM, we can solve actual problems. And finally we will be able to develop more and more maintenance activities with RCM notion. In this study, we will consider the application of KTX-RCM which is set up with basic theory of RCM and constructed to improve vehicle safety, availability and regularity of KTX, linking with CMMS(Computerized Maintenance Management System).