• KDI Journal of Economic Policy
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• v.32 no.4
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• pp.153-195
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• 2010

The recent global financial crisis has been the outcome of, among other things, the mismatch between institutions and the reality of the market in the current global financial system. The International financial institutions (IFIs) that were designed more than 60 years ago can no longer effectively meet the challenges posed by the current global economy. While the global financial market has become integrated like a single market, there is no international lender of last resort or global regulatory body. There also has been a rapid shift in the weight of economic power. The share of the Group of 7 (G7) countries in global gross domestic product (GDP) fell and the share of emerging market economies increased rapidly. Therefore, the tasks facing us today are: (i) to reform the IFIs -mandate, resources, management, and governance structure; (ii) to reform the system such as the international monetary system (IMS), and regulatory framework of the global financial system; and (iii) to reform global economic governance. The main focus of this paper will be the IMS reform and the role of the Group of Twenty (G20) summit meetings. The current IMS problems can be summarized as follows. First, the demand for foreign reserve accumulation has been increasing despite the movement from fixed exchange rate regimes to floating rate regimes some 40 years ago. Second, this increasing demand for foreign reserves has been concentrated in US dollar assets, especially public securities. Third, as the IMS relies too heavily on the supply of currency issued by a center country (the US), it gives an exorbitant privilege to this country, which can issue Treasury bills at the lowest possible interest rate in the international capital market. Fourth, as a related problem, the global financial system depends too heavily on the center country's ability to maintain the stability of the value of its currency and strength of its own financial system. Fifth, international capital flows have been distorted in the current IMS, from EMEs and developing countries where the productivity of capital investment is higher, to advanced economies, especially the US, where the return to capital investment is lower. Given these problems, there have been various proposals to reform the current IMS. They can be grouped into two: demand-side and supply-side reform. The key in the former is how to reduce the widespread strong demand for foreign reserve holdings among EMEs. There have been several proposals to reduce the self-insurance motivation. They include third-party insurance and the expansion of the opportunity to borrow from a global and regional reserve pool, or access to global lender of last resort (or something similar). However, the first option would be too costly. That leads us to the second option - building a stronger globalfinancial safety net. Discussions on supply-side reform of the IMS focus on how to diversify the supply of international reserve currency. The proposals include moving to a multiple currency system; increased allocation and wider use of special drawing rights (SDR); and creating a new global reserve currency. A key question is whether diversification should be encouraged among suitable existing currencies, or if it should be sought more with global reserve assets, acting as a complement or even substitute to existing ones. Each proposal has its pros and cons; they also face trade-offs between desirability and political feasibility. The transition would require close collaboration among the major players. This should include efforts at the least to strengthen policy coordination and collaboration among the major economies, and to reform the IMF to make it a more effective institution for bilateral and multilateral surveillance and as an international lender of last resort. The success on both fronts depends heavily on global economic governance reform and the role of the G20. The challenge is how to make the G20 effective. Without institutional innovations within the G20, there is a high risk that its summits will follow the path of previous summit meetings, such as G7/G8.

• The Korean Journal of Air & Space Law and Policy
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• v.29 no.2
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• pp.239-272
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• 2014

The rights and obligations of the Member States of ITU in the domain of international frequency management of the spectrum/orbit resource are incorporated in the Constitution and Convention of the ITU and in the Radio Regulations that complement them. These instruments contain the main principles and lay down the specific regulations governing the major elements such as rights and obligations of member administrations in obtaining access to the spectrum/orbit resource, as well as international recognition of these rights by recording frequency assignments and, as appropriate, any associated orbits, including the geostationary-satellite orbits used or intended to be used in the Master International Frequency Register (MIFR) Coordination is a further step in the process leading up to notification of the frequency assignments for recording in the MIFR. This procedure is a formal regulatory obligation both for an administration seeking to assign a frequency in its network and for an administration whose existing or planned services may be affected by that assignment. Regulatory problem lies in allowing administrations to fulfill their "bringing into use" duty for preserving his filing simply putting any satellites, whatever nationlity or technical specification may be, into filed orbit. This sort of regulatory lack may result in the emergence of the secondary market for satellite orbit. Within satellite orbit secondary market, the object of transaction may be the satellite itself, or the regulatory rights in rem, or the orbit registered in the MIFR. Recent case of selling the Koreasat belongs to the typical example of orbit transaction between private companies, the legality of which remains doubtedly controversial from the perspective of international space law as well as international transaction law. It must be noted, however, that the fact is the Koreasat 3 and its filed orbit is for sale.

• Journal of Intelligence and Information Systems
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• v.17 no.2
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• pp.97-107
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• 2011

Nowadays there are a lot of issues about copyright infringement in the Internet world because the digital content on the network can be copied and delivered easily. Indeed the copied version has same quality with the original one. So, copyright owners and content provider want a powerful solution to protect their content. The popular one of the solutions was DRM (digital rights management) that is based on encryption technology and rights control. However, DRM-free service was launched after Steve Jobs who is CEO of Apple proposed a new music service paradigm without DRM, and the DRM is disappeared at the online music market. Even though the online music service decided to not equip the DRM solution, copyright owners and content providers are still searching a solution to protect their content. A solution to replace the DRM technology is digital audio watermarking technology which can embed copyright information into the music. In this paper, the author proposed a new audio watermarking algorithm with two approaches. First, the watermark information is generated by two dimensional barcode which has error correction code. So, the information can be recovered by itself if the errors fall into the range of the error tolerance. The other one is to use chirp sequence of CDMA (code division multiple access). These make the algorithm robust to the several malicious attacks. There are many 2D barcodes. Especially, QR code which is one of the matrix barcodes can express the information and the expression is freer than that of the other matrix barcodes. QR code has the square patterns with double at the three corners and these indicate the boundary of the symbol. This feature of the QR code is proper to express the watermark information. That is, because the QR code is 2D barcodes, nonlinear code and matrix code, it can be modulated to the spread spectrum and can be used for the watermarking algorithm. The proposed algorithm assigns the different spread spectrum sequences to the individual users respectively. In the case that the assigned code sequences are orthogonal, we can identify the watermark information of the individual user from an audio content. The algorithm used the Walsh code as an orthogonal code. The watermark information is rearranged to the 1D sequence from 2D barcode and modulated by the Walsh code. The modulated watermark information is embedded into the DCT (discrete cosine transform) domain of the original audio content. For the performance evaluation, I used 3 audio samples, "Amazing Grace", "Oh! Carol" and "Take me home country roads", The attacks for the robustness test were MP3 compression, echo attack, and sub woofer boost. The MP3 compression was performed by a tool of Cool Edit Pro 2.0. The specification of MP3 was CBR(Constant Bit Rate) 128kbps, 44,100Hz, and stereo. The echo attack had the echo with initial volume 70%, decay 75%, and delay 100msec. The sub woofer boost attack was a modification attack of low frequency part in the Fourier coefficients. The test results showed the proposed algorithm is robust to the attacks. In the MP3 attack, the strength of the watermark information is not affected, and then the watermark can be detected from all of the sample audios. In the sub woofer boost attack, the watermark was detected when the strength is 0.3. Also, in the case of echo attack, the watermark can be identified if the strength is greater and equal than 0.5.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.4
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• pp.45-70
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• 2009

This article investigates which types of the strategies announced by the listed firms contribute to enhancing the long-term performance of the companies. Since 2002, Korean Exchange adopted the "faire disclosure policy" which mandates that all publicly traded companies must disclose material information to all investors at the same time. Thanks to the policy, Korean investors can, now, easily access the board's decision on management strategies on the same day the decision is made. If the companies trustfully carry out their announced strategies, we can decide which types of strategies actually enhance or deteriorate the long-term performance, simply by comparing the announced strategies and the firm's performance. The sample companies are confined to 60 firms that became listed in the KOSDAQ market through back-door listing from 2003 to 2005. Using only the newly listed companies, we can avoid the interference on the long-term performance of the strategies pursued before the event date. This often holds true, for many companies radically modify their strategies after the listing. Furthermore, the back-door listing companies serve our purpose better than IPO companies do, because the former tend to have a variety of announcement within a given period of time beginning the listing date. Using these sample companies, this article analyzes the effect on one year buy-and-hold returns and abnormal buy-and-hold returns after the listing of the various types of strategies announced during the same period of time. The results show that those evidences of restructuring such as 'reduction of capital' and 'resignation of incumbent board members', actually contribute to the increase in adjusted long-term stock returns. Those strategies which can be view as evidence of new investment such as 'increase in tangible assets', 'acquisition of other companies', do also helps the stockholders better off. On the contrary, 'increase in bank loans', 'changes of CEO' and 'merger' deteriorate the equity value. The last findings let us to presume that the back-door listing companies appear to use the bank loans for value-reducing activities; the change in CEO is not a sign of restructuring, but rather a sign of failure of the restructuring; another merger carried out after back-door listing itself is also value-reducing activity. This article's findings on reduction of capital, merger and bank loans oppose the results of the former empirical studies which analyze only the short-term effect on stock price. Therefore, more long-term performance studies on public disclosures are in order.

• Journal of Korean Ophthalmic Optics Society
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• v.7 no.1
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• pp.45-50
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• 2002

The 'hands-on' craftsmanship of the 20th century has came and gone. Today, we are dealing with whole new, 'cerebral approach,' to concept and design with this new approach, design and function are very much dependant upon planning, sales, promotion, and the formative technique of the design industry. The innovative process of design constantly change as it reflects the needs and wants of society. It is and industry that constantly change as it reflects the needs and wants of society. It is and industry that constantly remakes and reshapes itself to suit current trend and outlook. The current idea being that consumers are looking for quality over quantity. Due to the 20th centuries dominant philosophy of functionalism, production intended to standardize the individual's purchasing choice. Aesthetic, or philosophic qualities played a second fiddle to the functional bias of a product, With production, Marketing, and research and development are integrated into the management process. This translates as good which include efficiency, quality, durability, and credibility an trademark and style. There is a definite 'post-modernist' movement and style in 21st century. Every possibility is available as the old boundaries of the 20th century are laid aside. There is a new, transformative quality to the current paradigm of design. The old "should" and "should not" of design no longerapplies. The integrated rative of design solves the usual disparity between aesthetic qualities and production. Design and profirability need not be stranger to one another. It can differentiate the image perceived of both enterprises and consumers by making use of integrated goods services. With an integrated system. both producers and designers win. While design gets full access to design in turn. All consumers make decisions based upon the evaluation of quality, service, and image ; even though it may not be a conscious decision to do so. Consumers are fully integrated human beings ; therefore producers who apply the new, integrated paradigmatic approach to concept, design, and production will reap the harvest of making a true relationship with individual buyer.

• Asia pacific journal of information systems
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• v.17 no.2
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• pp.123-137
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• 2007

The advent of the Internet and related Web technologies has created an easily accessible link between a firm and its customers, and has provided opportunities to a firm to use information technology to support supplementary after-sale services associated with a product or service. It has been widely recognized that supplementary services are an important source of customer value and of competitive advantage as the characteristics of the product itself. Many of these supplementary services are information-based and need not be co-located with the product, so more and more companies are delivering these services electronically. Net-based customer service, which is defined as an Internet-based computerized information system that delivers services to a customer, therefore, is the core infrastructure for supplementary service provision. The importance of net-based customer service in delivering supplementary after-sale services associated with product has been well documented. The strategic advantages of well-implemented net-based customer service are enhanced customer loyalty and higher lock-in of customers, and a resulting reduction in competition and the consequent increase in profits. However, not all customers utilize such net-based customer service. The digital divide is the phenomenon in our society that captures the observation that not all customers have equal access to computers. Socioeconomic factors such as race, gender, and education level are strongly related to Internet accessibility and ability to use. This is due to the differences in the ability to bear the cost of a computer, and the differences in self-efficacy in the use of a technology, among other reasons. This concept, applied to e-commerce, has been called the "e-commerce divide." High Internet penetration is not eradicating the digital divide and e-commerce divide as one would hope. Besides, to accommodate personalized support, a customer must often provide personal information to the firm. This personal information includes not only name and address, but also preferences information and perhaps valuation information. However, many recent studies show that consumers may not be willing to share information about themselves due to concerns about privacy online. Due to the e-commerce divide, and due to privacy and security concerns of the customer for sharing personal information with firms, limited numbers of customers adopt net-based customer service. The limited level of customer adoption of net-based customer service affects the firm profits and the customers' welfare. We use a game-theoretic model in which we model the net-based customer service system as a mechanism to enhance customers' loyalty. We model a market entry scenario where a firm (the incumbent) uses the net-based customer service system in inducing loyalty in its customer base. The firm sells one product through the traditional retailing channels and at a price set for these channels. Another firm (the entrant) enters the market, and having observed the price of the incumbent firm (and after deducing the loyalty levels in the customer base), chooses its price. The profits of the firms and the surplus of the two customers segments (the segment that utilizes net-based customer service and the segment that does not) are analyzed in the Stackelberg leader-follower model of competition between the firms. We find that an increase in adoption of net-based customer service by the customer base is not always desirable for firms. With low effectiveness in enhancing customer loyalty, firms prefer a high level of customer adoption of net-based customer service, because an increase in adoption rate decreases competition and increases profits. A firm in an industry where net-based customer service is highly effective loyalty mechanism, on the other hand, prefers a low level of adoption by customers.

• Asia pacific journal of information systems
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• v.17 no.2
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• pp.97-122
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• 2007

Conventional networking and telecommunications infrastructure characterized by wires, fixed location, and inflexibility is giving way to mobile technologies. Numerous research reports point to the ultimate domination of wireless communication. With the increasing prevalence of advanced cell-phones, various mobile data services (hereafter MDS) are gaining popularity. Although cellular networks were originally introduced for voice communications, statistics indicate that data services are replacing the matured voice service as the growth engine for telecom service providers. For example, SK Telecom, the Korea's largest mobile service provider, reported that 25.6% of revenue and 28.5% of profit came from MDS in 2006 and the share is growing. Statistics also indicate that, in 2006, the average revenue per user (ARPU) for voice didn't change but MDS grew seven percents from the previous year, further highlighting its growth potential. MDS is defined "as an assortment of digital data services that can be accessed using a mobile device over a wide geographic area." A variety of MDS have been deployed, with a few reaching the status of killer applications. Many of them need to access the Internet through the cellular-phone infrastructure. In the past, when the cellular network didn't have acceptable bandwidth for data services, SMS (short messaging service) dominated MDS. Now, Internet-ready, next-generation cell-phones are driving rich digital data services into the fabric of everyday life, These include news on various topics, Internet search, mapping and location-based information, mobile banking and gaming, downloading (i.e., screen savers), multimedia streaming, and various communication services (i.e., email, short messaging, messenger, and chaffing). The huge economic stake MDS has on its stakeholders warrants focused research to understand associated dynamics behind its adoption. Lyytinen and Yoo(2002) pointed out the limitation of traditional adoption models in explaining the rapid diffusion of innovations such as P2P or mobile services. Also, despite the increasing popularity of MDS, unexpected drop in its usage is observed among some people. Intrigued by these observations, an exploratory study was conducted to examine decision factors of MDS usage. Data analysis revealed that the increase and decrease of MDS use was influenced by different forces. The findings of the exploratory study triggered our confirmatory research effort to validate the uni-directionality of studied factors in affecting MDS usage. This differs from extant studies of IS/IT adoption that are largely grounded on the assumption of bi-directionality of explanatory variables in determining the level of dependent variables (i.e., user satisfaction, service usage). The research goal is, therefore, to examine if increase and decrease in the usage of MDS are explained by two separate groups of variables pertaining to information quality and system quality. For this, we investigate following research questions: (1) Does the information quality of MDS increase service usage?; (2) Does the system quality of MDS decrease service usage?; and (3) Does user motivation for subscribing MDS moderate the effect information and system quality have on service usage? The research questions and subsequent analysis are grounded on the two factor theory pioneered by Hertzberg et al(1959). To answer the research questions, in the first, an exploratory study based on 378 survey responses was conducted to learn about important decision factors of MDS usage. It revealed discrepancy between the influencing forces of usage increase and those of usage decrease. Based on the findings from the exploratory study and the two-factor theory, we postulated information quality as the motivator and system quality as the de-motivator (or hygiene) of MDS. Then, a confirmative study was undertaken on their respective role in encouraging and discouraging the usage of mobile data service.

• Asia pacific journal of information systems
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• v.18 no.1
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• pp.97-115
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• 2008

Introduction The e-government is concerned with using Internet and Web technologies to exchange information and services with citizens, businesses and other related organizations, and it centers on three functions, namely informational, interactive, and transactional [UN, 2001]. Many developed countries like the U.S. have been actively involved in e-government projects, since they enable both more effective public services for citizens and more efficient internal operations. Korea is among these leading countries that are planning to leverage computer and communication technologies to provide for integration of work processes and information as well as convenient access to information and services. For this reason, evaluating e-government projects is becoming a crucial issue for both researchers and policy-makers. However, most research to date has primarily focused on a model of success of an e-government system designed for citizens, overlooking internal systems specifically created for employees working in a public organization. This paper is intended to propose a model to measure the success of a Web-based information system designed for use by internal users at Chungwadae, the executive branch of Korea's central government. The paper is also aimed at applying the model to the assessment of the present system being used at Chungwadae in comparison with the preceding system. Evaluating an e-Government System The most widely cited model of information systems success today is that of DeLone and McLean[1992, 2003, 2004]. The original model states that the success of an information system can be measured using six dimensions, including system quality, information quality, use, user satisfaction, individual impact, and organizational impact. Although the ultimate success of an information system may be reflected in the impact that the system has upon individuals as well as an organization, aspects of using the system such as system use and user satisfaction can play an important role in determining the system success, because the system would be a sheer failure if users don't like and use the system. As a response to criticisms given by numerous researchers, the authors adapted their model to fit the emerging Web-based environment. The revised model[DeLone and McLean, 2003] they offered included an additional quality dimension, namely service quality, and combined individual and organizational impacts into net benefits which can also influence user satisfaction. The e-government system success model can be built around this updated model. Our model incorporates information quality, system quality, and service quality as in the DeLone and McLean model. However, the 'system use' dimension has been replaced by perceived usefulness, as suggested by Seddon[1998]. In addition, because the e-government systems that this paper focuses on are internal public systems used in government agencies, the 'net benefits' dimension has been replaced by perceived work efficiency. Based on the proposed model, a total of nine hypotheses have been formulated which we tested using an empirical analysis. Methods A questionnaire form has been created with items that are designed to examine the relationships among the variables in the model. The questionnaire has been handed over, in person, to 65 members of Chungwadae staff who are now actively using the E-Support System, the present information system created to support internal work at Chungwadae. We made arrangements to meet with each individual who agreed to participate in our survey, and helped to fill out the survey form with explanations. Of the 65 copies that were delivered, only 33 were returned, and 30 responses of these have been adopted for our analysis, since three were not valid. The extremely small sample size was due to the limited number of staff members who had adequate experience required of this study. Results We gathered data from the questionnaire survey and analyzed them using a regression analysis to test the hypotheses. As shown in the table below, the results indicated that all three dimensions of an information system’s quality are positively related to user satisfaction. However, information quality and system quality were found to be positively related to perceived usefulness, while service quality was not. In addition, perceived usefulness is not positively related to user satisfaction, implying that a user may find a system useful, but may not be satisfied with it. Finally, user satisfaction and perceived usefulness both are positively related to perceived work efficiency. This suggests that workers' positive experience with the system is important to guarantee favorable work efficiency. Conclusions We conclude that the proposed model proved useful in measuring the success of an internal information system used by a government agency. To demonstrate the applicability and usefulness of the model in the paper, we applied the model to the assessment of the present internal system used at Chungwadae in comparison with the preceding system. The results showed that the present system outperforms the preceding one in a statistically significant way. Future research will have to focus on applying the model to Korea's governmental agencies other than Chungwadae and examine whether it proves applicable in different types of governmental organizations.

• Asia pacific journal of information systems
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• v.18 no.1
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• pp.145-162
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• 2008

One of the big concerns in e-society is privacy issue. In special, in developing robust ubiquitous smart space and corresponding services, user profile and preference are collected by the service providers. Privacy issue would be more critical in context-aware services simply because most of the context data themselves are private information: user's current location, current schedule, friends nearby and even her/his health data. To realize the potential of ubiquitous smart space, the systems embedded in the space should corporate personal privacy preferences. When the users invoke a set of services, they are asked to allow the service providers or smart space to make use of personal information which is related to privacy concerns. For this reason, the users unhappily provide the personal information or even deny to get served. On the other side, service provider needs personal information as rich as possible with minimal personal information to discern royal and trustworthy customers and those who are not. It would be desirable to enlarge the allowable personal information complying with the service provider's request, whereas minimizing service provider's requiring personal information which is not allowed to be submitted and user's submitting information which is of no value to the service provider. In special, if any personal information required by the service provider is not allowed, service will not be provided to the user. P3P (Platform for Privacy Preferences) has been regarded as one of the promising alternatives to preserve the personal information in the course of electronic transactions. However, P3P mainly focuses on preserving the buyers' personal information. From time to time, the service provider's business data should be protected from the unintended usage from the buyers. Moreover, even though the user's privacy preference could depend on the context happened to the user, legacy P3P does not handle the contextual change of privacy preferences. Hence, the purpose of this paper is to propose a mutual P3P-based negotiation mechanism. To do so, service provider's privacy concern is considered as well as the users'. User's privacy policy on the service provider's information also should be informed to the service providers before the service begins. Second, privacy policy is contextually designed according to the user's current context because the nomadic user's privacy concern structure may be altered contextually. Hence, the methodology includes mutual privacy policy and personalization. Overall framework of the mechanism and new code of ethics is described in section 2. Pervasive platform for mutual P3P considers user type and context field, which involves current activity, location, social context, objects nearby and physical environments. Our mutual P3P includes the privacy preference not only for the buyers but also the sellers, that is, service providers. Negotiation methodology for mutual P3P is proposed in section 3. Based on the fact that privacy concern occurs when there are needs for information access and at the same time those for information hiding. Our mechanism was implemented based on an actual shopping mall to increase the feasibility of the idea proposed in this paper. A shopping service is assumed as a context-aware service, and data groups for the service are enumerated. The privacy policy for each data group is represented as APPEL format. To examine the performance of the example service, in section 4, simulation approach is adopted in this paper. For the simulation, five data elements are considered: $\cdot$ UserID $\cdot$ User preference $\cdot$ Phone number $\cdot$ Home address $\cdot$ Product information $\cdot$ Service profile. For the negotiation, reputation is selected as a strategic value. Then the following cases are compared: $\cdot$ Legacy P3P is considered $\cdot$ Mutual P3P is considered without strategic value $\cdot$ Mutual P3P is considered with strategic value. The simulation results show that mutual P3P outperforms legacy P3P. Moreover, we could conclude that when mutual P3P is considered with strategic value, performance was better than that of mutual P3P is considered without strategic value in terms of service safety.

• Journal of Wetlands Research
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• v.18 no.3
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• pp.262-266
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• 2016

We investigated the characteristic demographics for visitors to Mujechi bog on Mt. Jungjok, with the purpose of developing a management strategy for the conservation and wise use of the montane wetland. Using daily visitor data from 2007, 2011, and 2015 we extracted and analyzed; visitation date, age, residential areas, purpose of visitation and the time allotted for the visit. The largest age cohort was the decade of the fifties(36.8%/total number of visitors) and followed by the decade of the forties(30.4%). The majority of visitors were from Ulsan(67%), Busan(16.6%), and Yangsan(10.8%). The visitors' primary objectives were to hike Mt. Jungjok(39-64.4%) or view Mujechi bog(18.7-51.8%) during the weekend. People visited more during the weekend than weekdays(F=6.19, p<0.002). In addition, there was a clear seasonality obvious in the monthly visits. The proportion of visitors were present in spring and fall, the month with the highest visitation rate was May at $15.6{\pm}2.8%$($mean{\pm}S.D.$). This increase in May was partly due to the desire to see the Korean azalea in bloom in the spring. Montane bog, like Mujechi, could be highly affected by disturbance(e.g. stamping, sediment inflow) caused by visitors. Therefore, it is suggested, based on the level of visitation that to reduce possible human disturbance effects, that either a seasonal restriction or a yearly alternation of trails be established. Visitors to the wetland should be restricted access to certain areas of the wetland, or be required to go in the accompaniment of a ranger or warden.