• KDI Journal of Economic Policy
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• v.12 no.4
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• pp.113-126
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• 1990

With the introduction of the national pension, efficient integration of Korea's four public pension schemes has been discussed. The main point of such discussions is whether to have a progressive scheme or an income-proportional one. Under the assumption of a perfect labor market, it has been proved in the income tax literature that the regressive tax scheme with the 0 % tax rate to the most able person (person earning highest income) is pareto efficient, if there is an incentive problem in the labor supply. In this paper, a life-cycle model with a linear benefit schedule, when there is uncertainty about future earning ability, is studied. It is proved that the second best pension scheme is that having a progressive benefit schedule. This result implies that integration into a progressive pension scheme, like the current national pension, is required not only for efficiency but also for equity.

• Spatial Information Research
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• v.23 no.4
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• pp.23-32
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• 2015

The basic purpose of standardization is to enhance economic feasibility and increase efficiency in the field of production, consumption, and distribution, etc. Therefore, standardization field requires circulatory system that can not only produce standards but develop and revise published standards. With such a background, to activate standards and promote systematic standardization activities, the government proposed establishing circulatory system for geospatial information standards in the National Geospatial Information Standardization Project in 2011. However, the result of analysis show that the current National Spatial Data Infrastructure(NSDI) standardization system caused a various problems including duplicate publication of standards because domestic NSDI standardization field have repeated production activities of standards without conformity assesment and certification activities. With a view to establishing circulatory standardization system, this study suggests ways of improving current domestic standardization system by reestablishing the cycle structure and circulatory system for geospatial information standards. Through this study, we could determine strategic direction for virtuous circle of geospatial information standards in macro level and it can be effectively utilized in term of planning mid-and-long-term roadmap for establishing NSDI standardization system.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.2
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• pp.97-110
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• 2020

This paper is on the policy proposal for venture ecosystem. First, one of the three secrets of the US venture ecosystem is the law of 50:50. Angel capital investment is as important as venture capital investment. Although professional angel investors and accelerators account for as much as VC in the venture ecosystem, they are ignored from policy considerations. We argue that the revision of related law is urgent. Second, large US firms invest more in M&As than in internal R&D. Therefore, accelerators and professional angel investors could make effective investment recovery after investing in a startup company. In other words, angel capital does not come in without secondary market development. Angel capital and secondary markets are the two pillars of the venture ecosystem. The government alone is difficult to develop a secondary market. This is why the private sector should come in and introduce corporate venture capital (CVC). Third, we believe the policy direction for national economic growth should be extended from the startup to scale-up. This is because the startup's sales and job creation will start in five years. While the previous study focused on funding (venture financing), this paper aims to balance all three stages of a venture: startup, growth, and recovery, which are the life cycle of a venture company or venture investment. In particular, we propose specific policies in each chapter to improve practical application.

• Journal of Distribution Research
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• v.15 no.5
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• pp.195-215
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• 2010

Large-scale discount stores, that were in charge of leading role up to recently, reach the limit of growth because of increasing competition, saturation of domestic market, and shortened product life-cycle. As per the limit of domestic market, large-scale discount stores are trying to various global market entry strategy and global marketing strategy like new store entry, takeover of foreign distribution chain, and global sourcing strategy. In the past, global companies of advanced country have been entering to Asian market with leading position. But, as per the rapid growth of Asian economy in the late 1980's, East Asian distribution companies like Japanese company were trying to enter the Asian market. In Asian market, starting with China, that was relatively not advanced in comparison with economic development, not only western advanced countries but also East Asian countries like Japan and Korea are entering actively for overcome their limitations of domestic market. Many of distribution companies experienced success and failure for various reason already. Korean large-scale discount stores are relatively late starters in Asian market. So, this paper purposed to review global market entry strategy of Japanese large-scale discount stores, and find out strategic implications for successful global market entry strategy of Korean large-scale discount stores.

• Journal of Distribution Science
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• v.12 no.12
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• pp.83-92
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• 2014

Purpose - A business ecosystem refers to mutually dependent systems interconnected by a loose foundation of various ecosystem members such as customers, suppliers, partners, and other stakeholders. The ecosystem-based strategy attempts to achieve competitive advantage for firms by enriching a business ecosystem or building a sustainable business ecosystem through the collaboration and co-evolution of its members. A sustainable business ecosystem is a source of competitiveness for firms anda manageable resource for gaining a competitive advantage. Customers represent the core membership of the business ecosystem and play a pivotal role in building a sustainable business ecosystem. This study examines the effects of customer participation on economic and social value in the business ecosystem and suggests a course of action for building a sustainable business ecosystem. Research design, data, and methodology - Two business cases of South Korea are selected from two different business types: business-to-business (B2B) and business-to-customer (B2C) firms. Business ecosystems for B2B and B2C firms reflect contrasting characteristics. Data was collected from in-depth interviews with four representatives of four firms. Results - The study suggested seven propositions for the relationships between customer participation and a sustainable business ecosystem through multiple case studies based on in-depth interviews. The results reveal the following four strategic actions for building sustainable business ecosystems based on the suggested propositions: alignment, systemization, socialization, and co-evolution. Alignment refers to achieving a harmonic balance or virtuous circle among the firm's mission, investment, and value creation. Systemization refers to building and implementing management and infrastructure systems rooted in the corporate culture. Socialization of customers in the business ecosystem reinforces the harmony or virtuous cycle. Finally, co-evolution is associated with the relationship between firms and customers as buyer firms in a restricted business ecosystem. Conclusions - This study considers multiple cases for the execution of a sustainable business ecosystem in collaboration with customers and suggests seven propositions and four strategic actions. The results are based on qualitative data from interviews with business associates from two firms in an open business ecosystem and two firms in a restricted business ecosystem, both in South Korea. Our research results regarding two contrasting business ecosystems shed light on business issues and policy making in Asian business environments, which are in the transition stages from a traditional conglomerate-driven to an inclusive growth-driven economy. The business ecosystem itself should be considered a manageable resource for firms' competitive positions in the market. A customer is a member of the business ecosystem and should thus be viewed not only as a purchasing entity and an object of relationship management but also as a co-creator of value. Therefore, firms should collaborate with customers to build sustainable business ecosystems. For this, firms must create social value, which cannot be created by customers alone, within the business ecosystem. Then, customers participate in a business ecosystem and build it to be favorable to them. Implications for academics and practitioners were suggested.

• Journal of Labour Economics
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• v.24 no.2
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• pp.63-94
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• 2001

Based on the human capital theory, the wage differentials among laborers are generated from the discrepancy of human capital stock which depends on individual laborer's decision. Hence, the wage differentials among laborers or between male and female are not the results of discrimination, but the results of individual choice. But, if the individual choice for human capital stock would be affected by the male-female discrimination, the explanation for male-female wage differentials base on the human capital stock has a bias. Actually, women have experienced in the discrimination on labor market participation due to gravity, parturition, infant rearing. Also, it is a fact that women have been discriminated against men in labor market owing to social, traditional, and cultural discriminations. If woman or her parent will less invest on human capital than man owing to the existence of discrimination in labor market, the 'expected human capital stock' instead of human capital stock will explain male-female wage differentials better. Therefore, in this study, we set up three models; first model includes working hours, industry, occupation, etc which are in general used as explanatory variables for wage decision, second model includes the variables which reflect the traditional human capital stock together with the first model's explanatory variables, third model employes the 'expected human capital stock' instead of traditional human capital stock. From the empirical test, the estimates of discrimination in three models are .93, .60, and, .48 respectively. This result implies that the male-female wage differentials in Korea can be explained by the discrepancy of 'expected human capital stock'. Since the discrepancy in expected human capital stock depend on the disparity in life-cycle labor force participation, male-female wage differentials can largely be attributed to male-female disparity in expected lifetime labor force participation.

• Journal of Korea Technology Innovation Society
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• v.20 no.2
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• pp.368-386
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• 2017

The purpose of this study is to present the technology value model based on profit approach and IITP practical guide for Ethernet network technology, which is the core technology of autonomous vehicles and connected cars in the hyper-connected industry. In-vehicle network, Ethernet technology, Ethernet port count, port pricing, and application data for technology assessment are sources of global market research organizations. The data on the company's COGS (Cost of Goods Sold), operating capital requirement, capital expenditure, and income statement data are used by the Bank of Korea's Business Analysis Report. According to the results of the study, the product market size was estimated to be US $470.3 billion and the technology market size was $52.1 billion over the seven years of economic life cycle of technology. The market value of the technology was estimated to be $260 million reflecting the possibility of entry into the market. In the case of the corporate management analysis report, the average value of the IITP and the top 25% were $0.7 million and $40.2 million, respectively. -27.8 million, and -73.6 million dollars respectively. This implies that government support for policy support is needed when conducting corporate R&D with high cost-to-sales ratio. The results of this study can be used as a reference for the evaluation of technology demand based ICT R&D technology in the industrial internet market in the fourth industrial revolution era.

• International Journal of Highway Engineering
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• v.20 no.1
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• pp.87-95
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• 2018

PURPOSES : A geo-grid pavement, e.g., a stress-absorbing membrane interlayer (SAMI), can be applied to an asphalt-overlay method on the existing surface-pavement layer for pavement maintenance related to reflection cracking. Reflection cracking can occur when a crack in the existing surface layer influences the overlay pavement. It can reduce the pavement life cycle and adversely affect traffic safety. Moreover, a failed overlay can reduce the economic value. In this regard, the objective of this study is to evaluate the bonding properties between the rigid pavement and a SAMI by using the direct shear test and the pull-off test. The predicted fractural energy functions with the shear stress were determined from a numerical analysis of the moving average method and the polynomial regression method. METHODS : In this research, the shear and pull-off tests were performed to evaluate the properties of mixtures constructed using no interlayer, a tack-coat, and SAMI with fabric and without fabric. The lower mixture parts (describing the existing pavement) were mixed using the 25-40-8 joint cement-concrete standard. The overlay layer was constructed especially using polymer-modified stone mastic asphalt (SMA) pavement. It was composed of an SMA aggregate gradation and applied as the modified agent. The sixth polynomial regression equation and the general moving average method were utilized to estimate the interlayer shear strength. These numerical analysis methods were also used to determine the predictive models for estimating the fracture energy. RESULTS : From the direct shear test and the pull-off test results, the mixture bonded using the tack-coat (applied as the interlayer between the overlay layer and the jointed cement concrete) had the strongest shear resistance and bonding strength. In contrast, the SAMI pavement without fiber has a strong need for fractural energy at failure. CONCLUSIONS : The effects of site-reflection cracking can be determined using the same tests on cored specimens. Further, an empirical-mechanical finite-element method (FEM) must be done to understand the appropriate SAMI application. In this regard, the FEM application analy pavement-design analysis using thesis and bonding property tests using cored specimens from public roads will be conducted in further research.

• Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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• v.13 no.4
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• pp.301-313
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• 2015

The rock cavern storage for spent fuel has been assessed to apply in Korea with reviewing the state of the art of the technologies for surface storage and rock cavern storage of spent fuel. The technical feasibility and economic aspects of the rock cavern storage of spent fuel were also analyzed. A considerable area of flat land isolated from the exterior are needed to meet the requirement for the site of the surface storage facilities. It may, however, not be easy to secure such areas in the mountainous region of Korea. Instead, the spent fuel storage facilities constructed in the rock cavern moderate their demands for the suitable site. As a result, the rock cavern storage is a promising alternative for the storage of spent fuel in the aspect of natural and social environments. The rock cavern storage of spent fuel has several advantages compared with the surface storage, and there is no significant difference on the viewpoint of economy between the two alternatives. In addition, no great technical difficulties are present to apply the rock cavern storage technologies to the storage of domestic spent fuel.

• Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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• v.14 no.4
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• pp.423-434
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• 2016

The importance of severe nuclear accidents and probabilistic safety assessment (PSA) were brought to international attention with the occurrence of severe nuclear accidents caused by the extreme natural disaster at Fukushima Daiichi nuclear power plant in Japan. In Korea, studies on level 3 PSA had made little progress until recently. The code systems of level 3 PSA, MACCS2 (MELCORE Accident Consequence Code System 2, US), COSYMA (COde SYstem from MAria, EU) and OSCAAR (Off-Site Consequence Analysis code for Atmospheric Releases in reactor accidents, JAPAN), were reviewed in this study, and the disadvantages and limitations of MACCS2 were also analyzed. Experts from Korea and abroad pointed out that the limitations of MACCS2 include the following: MACCS2 cannot simulate multi-unit accidents/release from spent fuel pools, and its atmospheric dispersion is based on a simple Gaussian plume model. Some of these limitations have been improved in the updated versions of MACCS2. The absence of a marine and aquatic dispersion model and the limited simulating range of food-chain and economic models are also important aspects that need to be improved. This paper is expected to be utilized as basic research material for developing a Korean code system for assessing off-site consequences of severe nuclear accidents.