• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.6
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• pp.1-9
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• 2016

In this study, we investigate the announcement effects of M&As with a start-up as a target firm on shareholder wealth of an acquiring firm. We use M&A events in KOSPI or KOSDAQ market between 2002 and 2014 after the financial crisis. Among the total 1436 mergers and acquisitions that took place domestically during this period, 1383 cases were selected as cases to be studied, excluding 53 cases where acquiring firms were unlisted firms. The results of the analysis are as follows: First, as a result of a comparison between the acquiring firms' CARs of the whole sample group(n=1383) occurred during the (-2, +1), (-5, +2), (-10, +5) periods of M&A announcement date(t=0) and the sub-sample group(n=468) where the target firms are start-ups which were established within five years, the acquiring firms of the whole sample group do not show significat CARs, while the acquiring firms of the sub-sample group show the significantly positive CARs. This suggests that M&A with start-ups have a positive effect on firm value of acquiring firms. Second, when merging unlisted start-ups, the acquiring firms show positive CARs, showing that there exists a listing effect in the merger of start-up. Third, merging the start-ups belonging to the high-tech industry shows the higher CARs than the case of merging the start-ups belonging to the non-high-tech industry. This study has great significance as the first in Korea to investigate the effect of M&A announcement with a start-up.

• Strategy21
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• s.46
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• pp.239-276
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• 2020

The failure of early economic sanctions aimed at hurting the overall economies of targeted states called for a more sophisticated design of economic sanctions. This paved way for the advent of 'smart sanctions,' which target the supporters of the regime instead of the public mass. Despite controversies over the effectiveness of economic sanctions as a coercive tool to change the behavior of a targeted state, the transformation from 'comprehensive sanctions' to 'smart sanctions' is gaining the status of a legitimate method to impose punishment on states that do not conform to international norms, the nonproliferation of weapons of mass destruction in this particular context of the paper. The five permanent members of the United Nations Security Council proved that it can come to an accord on imposing economic sanctions over adopting resolutions on waging military war with targeted states. The North Korean nuclear issue has been the biggest security threat to countries in the region, even for China out of fear that further developments of nuclear weapons in North Korea might lead to a 'domino-effect,' leading to nuclear proliferation in the Northeast Asia region. Economic sanctions had been adopted by the UNSC as early as 2006 after the first North Korean nuclear test and has continually strengthened sanctions measures at each stage of North Korean weapons development. While dubious of the effectiveness of early sanctions on North Korea, recent sanctions that limit North Korea's exports of coal and imports of oil seem to have an impact on the regime, inducing Kim Jong-un to commit to peaceful talks since 2018. The purpose of this paper is to add a variable to the factors determining the success of economic sanctions on North Korea: preventing North Korea's evasion efforts by conducting illegal transshipments at sea. I first analyze the cause of recent success in the economic sanctions that led Kim Jong-un to engage in talks and add the maritime element to the argument. There are three conditions for the success of the sanctions regime, and they are: (1) smart sanctions, targeting commodities and support groups (elites) vital to regime survival., (2) China's faithful participation in the sanctions regime, and finally, (3) preventing North Korea's maritime evasion efforts.

• Korea Science and Art Forum
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• v.37 no.4
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• pp.149-159
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• 2019

This research was started to identify the color status of signboards at the target site and suggest the direction of improvement for the signboard project in Dongsang-dong, Jongno-gil, a central area of the old city center of Gimhae. The area under study forms a depressed street atmosphere with old facilities, and is a typical type of old city center sign that needs to be rebuilt. The purpose of this study is to investigate prior research related to signage and similar signboard improvement cases, and then to identify the current status of colors by sorting out the casting, auxiliary and highlighted colors through the survey of the color of the signboard in the target area, and to propose a desirable direction for the future sign business based on the basis of these findings. This paper divided the target sections by industry and conducted a color analysis of signboards. The results and contents of the research are as follows. First, cast-colored signboards in general businesses showed a variety of primary color distributions with high L* values, on average, with high intensity and high chromaticity. Second, the auxiliary colors were mostly white or black in color-free, making a contrast between the casting colors. Third, the highlight was that a* value showed a high distribution in positive water plus and was mainly distributed in obsolescence, such as red or yellow, and color was used to reflect the characteristics of each store. However, the stores in the entire section lack unity because they were using colors that were higher in color than middle colors, which was causing the street's aesthetic look to be undermined. Based on the results of these studies, it is thought that the future color scheme for Gimhae's signature improvement project will limit the number of colors to a certain extent and give a sense of security and visual comfort to the use of colorlessness and obscurity around the representative colors of Gimhae.

• Journal of Legislation Research
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• no.44
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• pp.725-756
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• 2013

In this paper, the possibility of extension of falsification conception was investigated to discuss the validity of this precedent. Consequently this extension was indispensible according to the article 237-2 of criminal code which regards the reproduced document as the document in the document crime. However, this is against the security of human right. On the contrary, there is not this kind of article in the German criminal code and the German precedents and majority theory are negative to regard it as the criminal document. And also, there is the pont of view that the reproduced document is not the criminal document because it's not the expression itself of document nominee's intention, so the article 237-2 should be demolished in Korea. According to this opinion, the serious reconsideration should be required in the legislation of this article 237-2. Nevertheless, if this extended conception is needed and it's possible, the meaning of the computer monitor's image is not able to be ignored in the conception of falsification. Therefore this should be regarded as the element of the falsification conception. In other words, this can't be evaluated as the object of falsification but the target of falsification, according to the conception extension, though the precedents do not regard it as the document in document crime.

• Maritime Security
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• v.7 no.1
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• pp.31-60
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• 2023

This study proposes a new convergence weapon system that combines the covert placement and detection abilities of a self-propelled mobile mine with the rapid tracking and attack abilities of supercavitating rocket torpedoes. This innovative system has been designed to counter North Korea's new underwater weapon, 'Haeil'. The concept behind this convergence weapon system is to maximize the strengths and minimize the weaknesses of each weapon type. Self-propelled mobile mines, typically placed discreetly on the seabed or in the water, are designed to explode when a vessel or submarine passes near them. They are generally used to defend or control specific areas, like traditional sea mines, and can effectively limit enemy movement and guide them in a desired direction. The advantage that self-propelled mines have over traditional sea mines is their ability to move independently, ensuring the survivability of the platform responsible for placing the sea mines. This allows the mines to be discreetly placed even deeper into enemy lines, significantly reducing the time and cost of mine placement while ensuring the safety of the deployed platforms. However, to cause substantial damage to a target, the mine needs to detonate when the target is very close - typically within a few yards. This makes the timing of the explosion crucial. On the other hand, supercavitating rocket torpedoes are capable of traveling at groundbreaking speeds, many times faster than conventional torpedoes. This rapid movement leaves little room for the target to evade, a significant advantage. However, this comes with notable drawbacks - short range, high noise levels, and guidance issues. The high noise levels and short range is a serious disadvantage that can expose the platform that launched the torpedo. This research proposes the use of a convergence weapon system that leverages the strengths of both weapons while compensating for their weaknesses. This strategy can overcome the limitations of traditional underwater kill-chains, offering swift and precise responses. By adapting the weapon acquisition criteria from the Defense force development Service Order, the effectiveness of the proposed system was independently analyzed and proven in terms of underwater defense sustainability, survivability, and cost-efficiency. Furthermore, the utility of this system was demonstrated through simulated scenarios, revealing its potential to play a critical role in future underwater kill-chain scenarios. However, realizing this system presents significant technical challenges and requires further research.

• Korean Security Journal
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• no.40
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• pp.209-242
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• 2014

This study is to understand sure the primary crime prevention has been incidence as a social problem intended for parents through the analysis of the Crime Prevention Design (CPTED) CPTED element of recognize elements that target crime prevention strategy to effectively help students be and an object of the present invention is to provide a policy suggestion haryeoneunde proposed basic data required for orientation. To achieve the study objectives such as the core framework in this study IPA: Importance-Performance Analysis) also was selected. Subjects of study in 2010 Gyeongju Elementary parents name and were 203 first research group investigating the secondary school population of the region in 2014 to nomadic parents of 297 people sampled selection. Questionnaire that use by this study applies "Important-Performance Analysis : IPA" technique that Martilla & James(1977) presented and analyzed awareness for CPTED elements of strategy for student's crime prevention to elementary school pupil students' parentse. It was the first group, 0.886, 0.920, 0.895 and 2nd group 0.880, 0.906, 0.878 that reliability of (Cronbach' s ${\alpha}$) the importance, and believability of run chart was the first group, 0.880, 0.917, 0.878 and 2nd group, 0.735, 0.840, 0.830. Analysis of the data carried out frequency analysis, reliability analysis, Frequency analysis was performed, paired sample t-Test for the reliability analysis, and the technical statistical analysis of the data is. The analysis of lattice bars execution through the IPA, the importance of the primary parents elements of CPTED strategies are generally very high, but found that the variation depending on the components that Performance. This study, an important element of the strategy to eliminate the school building for students from inside and outside the criminal fears CPTED is a mechanical surveillance in the first group, organizational surveillance, and the second group is the region intensified I'll showed mechanically and organizational factors in the investigation, and request that the investment is urgently important element is also execution low, crime prevention personnel security higher importance than expanding the front door. The analysis result of this study expects that basic data can be used in policy direction presentation that examines closely CPTED elements of strategy for crime prevention of students and applies CPTED's component effectively at elementary school hereafter.

• Korean Security Journal
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• no.20
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• pp.339-363
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• 2009

The 9.11 demonstrated that terrorist attack could be more serious problem than the war in our modern life. No countries in the world have evaded being a target for terrorists today. As well as South Korea, the whole world must share attentions and responsibilities for fighting against the terrorism. Since the international terrorist groups have expanded their targets from Western countries to Koreans, civilian hostages are no longer other's affair; it became a serious threat to public. Increased Korean investment, trade, missionary, and travel overseas also expanded activity regions worldwide. It also result increased terrorist threats and possible abduction. The number of kidnapping crisis has increased since the terrorists use it as an effective method of sending a message. Piracy refers to a broad range of violent acts at sea, and has traditionally been regarded as common enemies. Piracy constitutes a great threat to the security of navigation as well as to the safety of vessels and crews. Lessons from hostage issues such as Korean hostage crisis in Somalia and Afghanistan show that it can cause criticism on moral issues if armed rescue missions fail or hostages are killed, so the governments and related corporations try to solve it by paying ransom. Terrorists and use these advantages in order to put a huge pressure on the governments. In this study we will look at essential characteristics and types of hostage abductions and recognition of national safety, lessons and solutions to previous Korean hostage cases in overseas. At the same time, it provides a guidelines of the direction in the fighting against terrorist groups and Piracy.

• The Journal of Engineering Geology
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• v.28 no.2
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• pp.217-246
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• 2018

During the selection and characterization of target formations in the Small-scale Offshore $CO_2$ Storage Demonstration Project in the Pohang Basin, we have carefully investigated the possibility of induced earthquakes and leakage of $CO_2$ during the injection, and have designed the storage processes to minimize these effects. However, people in Pohang city have a great concern on $CO_2$-injection-intrigued seismicity, since they have greatly suffered from the 5.4 magnitude earthquake on Nov. 15, 2017. The research team of the project performed an extensive self-investigation on the safety issues, especially on the possible $CO_2$ leakage from the target formation and induced earthquakes. The target formation is 10 km apart from the epicenter of the Pohang earthquake and the depth is also quite shallow, only 750 to 800 m from the sea bottom. The project performed a pilot injection in the target formation from Jan. 12 to Mar. 12, 2017, which implies that there are no direct correlation of the Pohang earthquake on Nov. 15, 2017. In addition, the $CO_2$ injection of the storage project does not fracture rock formations, instead, the supercritical $CO_2$ fluid replaces formation water in the pore space gradually. The self-investigation results show that there is almost no chance for the injection to induce significant earthquakes unless injection lasts for a very long time to build a very high pore pressure, which can be easily monitored. The amount of injected $CO_2$ in the project was around 100 metric-tonne that is irrelevant to the Pohang earthquake. The investigation result on long-term safety also shows that the induced earthquakes or the reactivation of existing faults can be prevented successfully when the injection pressure is controlled not to demage cap-rock formation nor exceed Coulomb stresses of existing faults. The project has been performing extensive studies on critical stress for fracturing neighboring formations, reactivation stress of existing faults, well-completion processes to minimize possible leakage, transport/leakage monitoring of injected $CO_2$, and operation procedures for ensuring the storage safety. These extensive studies showed that there will be little chance in $CO_2$ leakage that affects human life. In conclusion, the Small-scale Offshore $CO_2$ Storage Demonstration Project in the Pohang Basin would not cause any induced earthquakes nor signifiant $CO_2$ leakage that people can sense. The research team will give every effort to secure the safety of the storage site.

• Journal of the Korean Geographical Society
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• v.38 no.2
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• pp.312-323
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• 2003

This writer absolutely agrees with the government that regional disequilibrium is severe enough to consider moving the administrative capital. Pursuing this course solely to establish a balanced development, however, is not a convincing enough reason. The capital city is directly related to not only the social and economic situation but, much more importantly, to the domestic political situation as well. In the mid-1970s, the proposal by the Third Republic to move the capital city temporarily was based completely on security reasons. At e time, the then opposition leader Kim, Dae-jung said that establishing a safe distance from the demilitarized zone(DMZ) reflected a typically military decision. His view was that retaining the capital city close to the DMZ would show more consideration for the will of the people to defend their own country. In fact, independent Pakistan moved its capital city from Karachi to Islamabad, situated dose to Kashmir the subject of hot territorial dispute with India. It is regrettable that no consideration has been given to the urgent political situation in the Korean peninsula, which is presently enveloped in a dense nuclear fog. As a person requires health to pursue his/her dream, a country must have security to implement a balanced territorial development. According to current urban theories, the fate of a country depends on its major cities. A negligently guarded capital city runs the risk of becoming hostage and bringing ruin to the whole country. In this vein, North Koreas undoubted main target of attack in the armed communist reunification of Korea is Seoul. For the preservation of our state, therefore, it is only right that Seoul must be shielded to prevent becoming hostage to North Korea. The location of the US Armed Forces to the north of the capital city is based on the judgment that defense of Seoul is of absolute importance. At the same time, regardless of their different standpoints, South and North Korea agree that division of the Korean people into two separate countries is abnormal. Reunification, which so far has defied all predictions, may be realized earlier than anyone expects. The day of reunification seems to be the best day for the relocation of the capital city. Building a proper capital city would take at least twenty years, and a capital city cannot be dragged from one place to another. On the day of a free and democratic reunification, a national agreement will be reached naturally to find a nationally symbolic city as in Brazil or Australia. Even if security does not pose a problem, the governments way of thinking would not greatly contribute to the balanced development of the country. The Chungcheon region, which is earmarked as the new location of the capital city, has been the greatest beneficiary of its proximity to the capital region. Not being a disadvantaged region, locating the capital city there would not help alleviate regional disparity. If it is absolutely necessary to find a candidate region at present, considering security, balanced regional development and post-reunification scenario of the future, Cheolwon area located in the middle of the Korean peninsula may be a plausible choice. Even if the transfer of capital is delayed in consideration of the present political conflict between the South and the North Koreas, there is a definite shortcut to realizing a balanced regional development. It can be found not in the geographical dispersal of the central government, but in the decentralization of power to the provinces. If the government has surplus money to build a new symbolic capital city, it is only right that it should improve, for instance, the quality of drinking water which now everyone eschews, and to help the regional subway authority whose chronic deficit state resoled in a recent disastrous accident. And it is proper to time the transfer of capital city to coincide with that of the reunification of Korea whenever Providence intends.

• Korean Journal of Social Welfare
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• v.58 no.1
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• pp.59-85
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• 2006

The purpose of this study was to identify how traumatic experiences and stresses caused hopelessness and depression among low-income residents, and to delineate what social problem solving capabilities might play roles in relation to the hopelessness theory of depression. For the purpose of the study, the target group of this study was restricted to adults over 20. This study recruited 175 low-income residents(the Beneficiary of National Basic Livelihood Security Act and the Near Poor Group) in Busan, Korea and employed a self-administered survey method during February, 2004. The following are the major results of the study. First, in low-income subjects, stresses showed positive influences on hopelessness. Second, in low-income subjects, stresses and hopelessness showed positive influences on depression. Third, stress influenced depression with hopelessness as the intervening variable, but it was not statistically significant path in traumatic experiences. The hopelessness theory of depression is to test whether the individuals who have negative attributional style and experience negative life events are likely to make negative attributions for the negative events they confront. The present study, using low-income residents, found that negative life experience predict negative attributions without negative attributional style. Fourth, social problem solving capabilities buffered the relationship between stress and hopelessness. It was also significant subscales apart from Positive Problem Orientation and Negative Problem Orientation. Fifth, social problem solving capabilities buffered the relationship between hopelessness and depression. It was also significant subscales apart from Negative Problem Orientation and Impulsivity/Carelessness Style. Based on the results, practice implications by identifying what social problem solving capabilities might play roles in hopelessness theory of depression were discussed.