• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2022.06a
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• pp.369-370
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• 2022

In Korea's ship finance, due to the nature of pro-cyclical investment, the private sector's ship finance greatly shrinks during the shipping recession, and policy financial institutions take the lead in ship finance. Meanwhile, the government established the 「Strategy for the Realization of Shipping Industry Leader」 (June 29, '2) and set a development goal by 2030 through support such as securing new high-efficiency ships. To promote financial investment. However, investment in the shipping industry is not easy to induce due to risks and uncertain market conditions. Therefore, it is necessary to review tax benefits that can induce joint investment of investors at the government level. Therefore, it is necessary to introduce a Korean version of tax lease scheme for ships in order to resolve the liquidity gap in the domestic ship finance market and successfully implement the five-year plan for reconstruction of shipping industry.

• KDI Journal of Economic Policy
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• v.30 no.2
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• pp.185-223
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• 2008

This paper considers a heterogeneous agent dynamic general equilibrium model and analyzes effects of an increase in labor income tax rate on labor market and the aggregate variables in Korea. The fiscal policy regarding how the government uses the additional tax revenue may take the two forms: 1) general transfer and 2) earned income tax credit (EITC). The model features are as follows: 1) Workers are heterogeneous in their productivity. 2)Labor is indivisible, hence the analysis focuses on the variation in labor supply through the extensive margin in response to a change in fiscal policy. 3) The incomplete markets are introduced, so individual workers can not perfectly insure themselves against risks related to stochastic changes in income or employment status. 4) The model is of general equilibrium, hence it is equiped to analyze the feedback effect of changes in aggregate variables on individual workers' decisions. In the case of general transfer policy, the government equally distributes the additional tax revenue to all workers regardless of their employment states. Under this policy, an increase in the labor income tax rate dampens work incentives of individual workers so that the aggregate employment rate decreases by 1% compared with the benchmark economy. In the case of EITC policy, only employed workers whose labor incomes are below a certain EITC ceiling are eligible for the EITC benefits. Unlike the general transfer policy, the EITC induces low-income workers to participate the labor market to be eligible for EITC benefits. Hence, the aggregate employment rate may increase by 2.7% at the maximum. As the EITC ceiling increases, too many workers can collect the EITC but the benefits per worker becomes too little so that the increase in employment rate is negligible. By and large, this study demonstrates that EITC may effectively raise the aggregate employment rate, and that it can be a useful policy tool in response to the decrease in the labor force due to population aging as observed in Korea recently.

• Journal of Digital Convergence
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• v.12 no.7
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• pp.197-203
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• 2014

This study deals with a comparative analysis on reverse mortgage loans and mortgage loans in order to pave a path for activation of real estate financing. The fact-revealing analysis was conducted through surveys based on theoretical consideration and advanced researches, which has drawn a range of findings. As the results of this study, the important findings concerning the improvement on the activation of practical housing reverse mortgages are applicable to all real estate, diversifying the tax benefits, and deregulation of 1 house, etc. and findings concerning the improvement to activate mortgage loans are diversifying types of interest rates, diversifying types of repayment, tax benefits for less than 15 years maturity period, and granting benefits(low interest rates, higher loan limits) to low-income households, etc. This study has a significance for providing basic materials in order to accomplish advanced finance policies along with social welfare services as suggesting measures to improve and activate real estate financing through the findings out of the fact-revealing analysis conducted as above.

• Korean Journal of Organic Agriculture
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• v.18 no.3
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• pp.291-313
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• 2010

The objective of this paper is to apply choice experiment methods to estimate non-market value of organic farming and its policy implication. A preliminary survey shows that the attributes of organic farming are reduce environmental pollution, bio-diversity improvements, cultural diversity improvements and maintain local community, reduce green-house gas emissions, energy saving, landscape improvements and tax for organic farming improvement policy. Questionnaire was eight different choice sets presented to each respondent. Implicit values of the attributive levels of organic farming have been calculated into tax money costs per house. This paper compared the six feasible scenarios in terms of willingness to pay per year. This study is expected to contribute to government's organic farming policies and quantitative information related to practice of organic farming.

• Proceedings of the Korean Society of Soil and Groundwater Environment Conference
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• 2000.05a
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• pp.24-27
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• 2000

The development of land classification and soil productivity rating systems (SPR) are examined for their application to valuation of agricultural land in South Dakota, USA. The application of SPR data to land valuation work conducted by real estate appraisers, tax assessors, and economists are discussed along with an assessment of its benefits and limitations.

• Journal of Arbitration Studies
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• v.20 no.1
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• pp.169-189
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• 2010

Composition depending on the development of industrial sites are located just within the existing facilities are hoping to become a retention, in accordance with the law will impose a liability amount. Then calculating the profit and loss analysis of the retention is required. In other words, the composition of the industrial site will be retained for existing facilities and the amount of the profit is necessary to analyze. In this study, the calculation of expenses and the income of retained existing facilities will be presented with analytical methods. Especially the existing cases of dispute with the results of the adjustment and the calculation of contributions for a range of benefits associated with the analysis according to 'The Industrial Sites and Development Act', the following conclusions were drawn. According to 'The Industrial Sites and Development Act', the facility at the industrial site composition within the limits of increasing the convenience of being charged is reasonable. In particular, the industrial site of buildings located within existing facilities depending on the composition and future industrial sites are public facilities available for the facility to consider the possibility of calculating contributions to be reasonable. Additional benefits which can be the land prices, tax exemptions, and increasing efficiency of land use for the benefits are not yet realized the benefits against the expenses side, as well as imposing double taxation. Therefore, the heavy emphasis on convenience is not considered to be reasonable. Including in the industrial site, the cost of damages caused, that is, noise, pollution, and the defective product possibility should be considered a side opinion, but it still does not promote the development of states estimated the cost of the damage is not right to be counted. Therefore, this facility should not be included in calculating contributions.

• Korean Journal of Childcare and Education
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• v.9 no.6
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• pp.197-221
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• 2013

The purpose of this study was to examine the relationship between the child care support policies and the birth rate in 33 OECD countries. In the structural equation modelling, the birth rate was the dependent variable while the cash-support policies, the child-care facility service policies, and the tax benefits policies were the independent variables. The analysis showed that the most effective factor on the birth rate was the child-care facility service policies. Regarding the effectiveness of the policy expenses, the cash-support policies showed stable fluctuation of effectiveness according to the fluctuation of cash amount, the child-care facility service policies. In conclusion, in order to increase the effectiveness of the cash-support policies, the adequate cost calculation to decrease the parents' burden for child-bearing, re-allocation of budget, and support methods and timing should be continually discussed. In addition, for the better effectiveness of the facility service policies, more various, comprehensive and high-quality facility service policies that could balance home and work, should be implemented.

• Journal of Information Technology and Architecture
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• v.11 no.1
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• pp.81-88
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• 2014

This study is about the suggestion of reduction method for social insurance cost of startup SMEs Based on the study abroad and the current status of Korea we suggest several methods such as direct and indirect support, exemption, deferment/loan. For the economic effect analysis, we derived benefits and costs. Employment, value added, and revenue increasing effects are considered as benefits. Costs are analyzed by each method. In case of exemption, the analysis is impossible. Analysis results show that direct and deferment/loan case have an effect of 563,469 jobs creation, added value of 26.82 trillion wons, and increase in tax revenues about 82.4 billion wons. In case of exemption, There are 105,368 jobs creation, 5.02 trillion wons of added value, and 15.4 billion wons of increase in tax revenues. And for each case, there are costs 9.58 trillion won, 5.42 trillion won, 1.79 trillion won.

• Journal of Environmental Policy
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• v.3 no.1
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• pp.55-69
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• 2004

Bioenergy can be obtained from various forms of biomass such as agricultural, food processing, and municipal wastes. Recently, its importance is recognized more seriously because of its positive impacts on economic and stable energy supply and environmental sustainability. Despite its advantages, bioenergy has not been used as much as it was expected, nor has it been developed to the level of attractive commercialization in energy market. The main reasons for the sluggish progress have been analyzed by comparing the bioenergy policies in Korea and U.S.A. Both Korea and U.S. governments have recognized the importance of bioenergy and put in various efforts to promote the use of bioenergy. Both governments have legislated alternative energy promotion plans that support R&D, tax reduction, rewards, and low interest loans. However, it is suggested that the bioenergy policy and plan juxtapose the financial supports (R&D, tax exemption, low interest loan, education, etc.) with strong mandates and obligations. Although imposing strong mandates prerequisites the economically attractive and feasible technologies, it can motivate and speed up more effective technology development, in turn. In addition, the bioenergy R&D support must include studies on commercialization and marketing as well as process development. R&D on the socioeconomic effects of bioenergy should also be supported. Lastly, decision making processes for the bioenergy policy, and for alternative energy overall, must include environmental agencies for taking advantage of environmental benefits of bioenergy.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.11
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• pp.213-221
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• 2021

The paper attempts to investigate the optimal capital structure of Vietnamese listed firms based on a structural approach. Using the data from around 70 companies in the Consumer Staples sector listed on the Vietnamese Stock Exchange during the period 2018-2020, this study finds that the optimal capital structure of examined companies has a wide range of diversification. This can be explained by the various types of actual products for each typical firm within the chosen sector. The result also confirms that a large proportion of researched firms were actually overleveraged, which is consistent with the trade-off hypothesis that firms wish to take tax advantages while using more debt, which creates the benefits from tax-shield. Furthermore, the research highlights the reversed correlation, which suggests that the lower the company's risk (the lower the sigma of the assets), the greater the optimal capital structure is suggested. Another interesting finding is that almost all consumer staples companies have a better optimal capital structure under the Leland and Toft (1996) model than under the Leland (1994) model. Furthermore, there is a strong correlation of optimal financial leverage ratio between years. In other words, the optimal debt levels of the latter year are strongly dependent on the gearing levels of the previous years.