• KDI Journal of Economic Policy
• /
• v.30 no.2
• /
• pp.1-26
• /
• 2008

This paper attempts to re-evaluate the size of housing wealth effect in Korea. Our focus is on the size of 'genuine' housing wealth effect, i.e., the response of consumption spending by home-owners to the changes in housing wealth. Two issues show up while we estimate the 'genuine' wealth effects using aggregate time series data: the issues around home ownership and proper measure of consumption. We first argue that it is more appropriate to use non-housing consumption, because housing consumption is in large part not of the choice of home owners but the imputed rents they do not actually choose to pay. We then proceed to address the issue of home ownership, by examining how much to revise the estimates of housing wealth effect obtained from aggregate non-housing consumption data. We construct two structural models and estimate the share of home-owners' consumption in those models' context. It is found that, if properly revised in light of the estimated consumption shares of home-owners, the magnitude of resulting housing wealth effects are larger than what simple time series regressions imply.

• Korean Association of Arts Management
• /
• no.58
• /
• pp.179-204
• /
• 2021

Not only the consumption trend after the COVID-19 pandemic but also low financial interest rates have stimulated people to invest artworks. With the recent noticeable growth, art investments that mainly conducted by younger generation through online platform can be characterized by a fractional ownership in art market which means several people share one piece of artwork. This study explores 4 fractional ownership platforms in the domestic art market including Art Together, Art & Guide, Tessa, and Pica projects, using a business model canvas that describes nine key elements: Customer Segments, Value Proposition, Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partners and Cost Structure. The four cases have similar business models, but the details of revenue streams are different. The key sources of revenue are the profit and commission of the work. Thus, maximizing the profit margin of artworks is the core of revenue streams, so selecting and purchasing highly profitable artworks are significant. Based on the analysis, there are 3 suggestions to continue fractional ownership platform businesses in art market successfully. First, it is required to have a long-term perspective on art investments, as a way to diverse asset portfolio. Second, business confidence should be increased to maintain customer loyalty. Third, the role of platforms as competent experts is important.

• The Journal of the Institute of Internet, Broadcasting and Communication
• /
• v.23 no.3
• /
• pp.45-50
• /
• 2023

As the ownership of pets has steadily increased in recent years, the need for an effective pet management system has grown. In this study, we propose a pet management system with a deep learning-based emotion recognition SNS. The system detects emotions through pet facial expressions using a convolutional neural network (CNN) and shares them with a user community through SNS. Through SNS, pet owners can connect with other users, share their experiences, and receive support and advice for pet management. Additionally, the system provides comprehensive pet management, including tracking pet health and vaccination and reservation reminders. Furthermore, we added a function to manage and share pet walking records so that pet owners can share their walking experiences with other users. This study demonstrates the potential of utilizing AI technology to improve pet management systems and enhance the well-being of pets and their owners.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.13 no.8
• /
• pp.3417-3426
• /
• 2012

This study aims to determine how ownership structure (share-holding ratio of insiders, foreigners) affects agent costs (the portion of asset efficiency or non-operating expenses) through empirical analysis. However, as existing studies on correlations between ownership structure and agent costs adopted Pooled OLS Model, this study focused on additionally formulating Fixed Effect Model and Random Effect Model aimed to reflect the time of data formation and corporate effects as study models based on verification results on the suitability of Pooled-OLS Model before comparative analysis for the purpose of improvement of credibility and statistical validity of the results of empirical analysis based on the premise that the Pooled OLS Model is not reliable enough to verify massive panel data. The data has been accumulated over 10 years from 1998 to 2007 after the IMF crisis hit the nation, from a subject 331 companies except for financial institutions. As a result of the empirical analysis, verification of the suitability of model has determined that the Random Effect Model is appropriate in terms of asset efficiency among agent costs items. On the other hand, the Fixed Effect Model is appropriate in terms of non-operating costs. As a result of the empirical analysis according to the appropriate model, no hypothesis adopted in the Pooled OLS Model has been accepted. This suggests that developing an appropriate model is more important than other factors for the purpose of generating statistically significant empirical results by showing that different empirical results are produced according to the type of empirical analysis.

• The Journal of Information Technology
• /
• v.8 no.1
• /
• pp.63-81
• /
• 2005

The purpose of this study is primarily to analyse empirically the productivity effects of worker participation in capital by Korean employee stock ownership plan that had taken newly effect on and after January 1,2002, and secondarily to examine the impact of unionization on productivity. The analysis data are those of 150 firms that listed or registered on the stock market, and introduced ESOP. The result of this study can be summarized as follows. First, the worker participation in capitia have significantly a positive effect on productivity, but the magnitude of those effects vary according to estimation models and sectors. The elasticity of stock share owned by employees on productivity is from 0.03 to 0.24. Second, there is no unitary relationship between unionization and productivity. The coefficients of union dummy variable are positive or negative according to models and sectors as well as insignificant.

• Information and Communications Magazine
• /
• v.33 no.6
• /
• pp.18-26
• /
• 2016

Network and network functions virtualization (NFV) promise a number of attractive benefits and thus have driven mobile network operators to transform their previously static networks to more dynamic and software-defined networks. In this article, we share a mobile network operator's view based on implementation and deployment experiences in the wild during the past few years towards a software-defined 5G core network. More specifically, we present a practical point of view from mobile network operators and elaborate on why some of the virtualization benefits such as total cost of ownership (TCO) reduction are not easily realized as initially intended. Then, we describe 5G visions, services, and their requirements commonly agreed across mobile operators globally. Given the requirements, we then introduce desirable characteristics of 5G mobile core network and its key enabling technologies.

• Asian-Australasian Journal of Animal Sciences
• /
• v.9 no.2
• /
• pp.215-221
• /
• 1996

In the marginal upland areas of East Java, Indonesia, ruminants provide farming households with tradable assets in addition to manure and draught power. Households are interested in acquiring ruminants at an early stage of household development. This paper discusses farmers' access to cattle via sharing arrangements. In these arrangements owners lend animals to other farmers in retum for a share of the offspring or the profits. Livestock owners only entrust cattle to households with prior experience in livestock keeping and sufficient labour. Details of the sharing contracts differ between villages. Changes in cattle numbers and ownership over time are attributed to patterns of the development of village agriculture and the economic development of farming households. Feed shortages in the dry season bring about short-term changes; cattle numbers decline and the proportion of households rearing shared cattle increases. The institution of sharing plays a major role in replenishing herds after periods of severe drought.

• Proceedings of the KIEE Conference
• /
• 2006.07b
• /
• pp.1085-1086
• /
• 2006

EMU, Electric Multiple Unit, is very complicated system that consists of thousand parts. If breakdown happens, work that clears cause in most cases work that clears cause in most cases is very complicated and difficult. Also it needs much times and experts of several parts. Maintenance is depending on know-how of the operator and breakdown that happen before happens often repeatedly because information management and public ownership are not achieved properly about analysis and action result. In this paper we present the case-based expert system for EMU which is able to share this know-how knowledge that data-based systemically with another operator.

• International Journal of High-Rise Buildings
• /
• v.7 no.2
• /
• pp.141-143
• /
• 2018

Critics of height argue that it de-humanizes our cities. Yet a critical mass is a necessity for vibrant city life, and height is a key contributor. If we can overcome the environmental impacts and technicalities of building tall and dense, our cities' streets can thrive and prosper. To make this happen, we must move towards working together to share resources, so we can ensure the continuity of the public realm. We already have the tools to do this; the challenge lies in the coordination of the public and private institutions that govern urban space. District heating and cooling systems; shared logistics spaces; care, responsibility and ownership of the public realm between buildings; seamless connectivity between modes of transport; creative combinations of shelter and seating, and the placement of buildings so that they are not overbearing to the streets around them - these attributes can be found in many places, though rarely all at once. This paper looks at the development of the city and offers Barangaroo South, Sydney, which addresses all these aspects, as a potential template for future city planning.

• 한국방재학회:학술대회논문집
• /
• 2008.02a
• /
• pp.325-328
• /
• 2008

After insufficient road facilities are expanded, it is more important to maintain performance of road facilities the time according to passing. When the road facilities are maintained optimally through proper maintenance, the total amount of investment can be minimized and national competitiveness is improved. Individual maintenance research of road facilities such as PMS or BMS was in progress until currently, but it is difficult to joint ownership and share information between systems, and it is impossible to use as the decision-making. Therefore, Asset Management System for road facilities is enforced to solve the inefficiency of existing systems, maintenance the road facilities systematically under the limited budget and get the maximum benefits against the cost from the view point of long-term. In this paper, the concept of Asset Management System explained, and research plan from KICT in order to introduce the Asset Management System of road facilities from 2008 hereafter for 5 years accounted.