• Title/Summary/Keyword: economic difficulties

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Dynamic forecasts of bankruptcy with Recurrent Neural Network model (RNN(Recurrent Neural Network)을 이용한 기업부도예측모형에서 회계정보의 동적 변화 연구)

  • Kwon, Hyukkun;Lee, Dongkyu;Shin, Minsoo
    • Journal of Intelligence and Information Systems
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    • v.23 no.3
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    • pp.139-153
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    • 2017
  • Corporate bankruptcy can cause great losses not only to stakeholders but also to many related sectors in society. Through the economic crises, bankruptcy have increased and bankruptcy prediction models have become more and more important. Therefore, corporate bankruptcy has been regarded as one of the major topics of research in business management. Also, many studies in the industry are in progress and important. Previous studies attempted to utilize various methodologies to improve the bankruptcy prediction accuracy and to resolve the overfitting problem, such as Multivariate Discriminant Analysis (MDA), Generalized Linear Model (GLM). These methods are based on statistics. Recently, researchers have used machine learning methodologies such as Support Vector Machine (SVM), Artificial Neural Network (ANN). Furthermore, fuzzy theory and genetic algorithms were used. Because of this change, many of bankruptcy models are developed. Also, performance has been improved. In general, the company's financial and accounting information will change over time. Likewise, the market situation also changes, so there are many difficulties in predicting bankruptcy only with information at a certain point in time. However, even though traditional research has problems that don't take into account the time effect, dynamic model has not been studied much. When we ignore the time effect, we get the biased results. So the static model may not be suitable for predicting bankruptcy. Thus, using the dynamic model, there is a possibility that bankruptcy prediction model is improved. In this paper, we propose RNN (Recurrent Neural Network) which is one of the deep learning methodologies. The RNN learns time series data and the performance is known to be good. Prior to experiment, we selected non-financial firms listed on the KOSPI, KOSDAQ and KONEX markets from 2010 to 2016 for the estimation of the bankruptcy prediction model and the comparison of forecasting performance. In order to prevent a mistake of predicting bankruptcy by using the financial information already reflected in the deterioration of the financial condition of the company, the financial information was collected with a lag of two years, and the default period was defined from January to December of the year. Then we defined the bankruptcy. The bankruptcy we defined is the abolition of the listing due to sluggish earnings. We confirmed abolition of the list at KIND that is corporate stock information website. Then we selected variables at previous papers. The first set of variables are Z-score variables. These variables have become traditional variables in predicting bankruptcy. The second set of variables are dynamic variable set. Finally we selected 240 normal companies and 226 bankrupt companies at the first variable set. Likewise, we selected 229 normal companies and 226 bankrupt companies at the second variable set. We created a model that reflects dynamic changes in time-series financial data and by comparing the suggested model with the analysis of existing bankruptcy predictive models, we found that the suggested model could help to improve the accuracy of bankruptcy predictions. We used financial data in KIS Value (Financial database) and selected Multivariate Discriminant Analysis (MDA), Generalized Linear Model called logistic regression (GLM), Support Vector Machine (SVM), Artificial Neural Network (ANN) model as benchmark. The result of the experiment proved that RNN's performance was better than comparative model. The accuracy of RNN was high in both sets of variables and the Area Under the Curve (AUC) value was also high. Also when we saw the hit-ratio table, the ratio of RNNs that predicted a poor company to be bankrupt was higher than that of other comparative models. However the limitation of this paper is that an overfitting problem occurs during RNN learning. But we expect to be able to solve the overfitting problem by selecting more learning data and appropriate variables. From these result, it is expected that this research will contribute to the development of a bankruptcy prediction by proposing a new dynamic model.

A Study on Customer Loyalty and Word-of-Mouth Effect according to Character Trait of Patient in Dental Clinics (치과내원환자의 성격특성에 따른 고객충성도 및 구전효과 연구)

  • Yang, Hae-Young
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.12 no.12
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    • pp.5819-5826
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    • 2011
  • Recently in the dental world, competition in the medical industry has been intensified due to the prolonged economic stagnation, the quantitative expansion of medical institutions, the enhancement of medical consumers'awareness of rights, and the diversity of medical consumer needs. Dental institution management of the difficulties is the requirement for dental institution to ensure competitiveness. So Word-of-Mouth marketing, which creates high marketing effectiveness with low cost, needs to be actively utilized as a new alternative to mass communication marketing. This research is to accurately grasp the target group of dental medical marketing activities through research on the degree of customer loyalty and Word-of-Mouth effects according to character trait of the patients visiting dental clinics, and to present the basic data for Word-of-Mouth marketing strategies from a viewpoint of practical business through presenting Word-of-Mouth promotion factors. To achieve this, questionnaire survey was conducted on 10 dental clinics located in Daegu for 4 weeks from April 11, 2011 to May 6, 2011 and 612 copies of responses to the questionnaires for final data for analysis were obtained. The results of the analysis are as follows. There were no significant differences in the degree of customer loyalty according to character trait of the subjects between the introverts and the extroverts, and the subjects with high market mavens propensity were found to show high degree of customer loyalty (F=5.243, p=.006). In the differences in Word-of-Mouth effectiveness according to character trait, there were greater differences in Word-of-Mouth experiences in the extrovert subjects ($x^2$=6.738, p=.006) and the subjects with high market mavens propensity ($x^2$=17.251, p=.000). The results of this research clarifies the degree of customer loyalty according to character trait of the patients visiting dental clinics and the differentiated influences of Word-of-Mouth effectiveness, and through this, they will become basic data for presenting ways to establish strategies from the viewpoint of practical business that should be considered in establishing dental medical marketing strategies.

Text Mining-Based Emerging Trend Analysis for the Aviation Industry (항공산업 미래유망분야 선정을 위한 텍스트 마이닝 기반의 트렌드 분석)

  • Kim, Hyun-Jung;Jo, Nam-Ok;Shin, Kyung-Shik
    • Journal of Intelligence and Information Systems
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    • v.21 no.1
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    • pp.65-82
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    • 2015
  • Recently, there has been a surge of interest in finding core issues and analyzing emerging trends for the future. This represents efforts to devise national strategies and policies based on the selection of promising areas that can create economic and social added value. The existing studies, including those dedicated to the discovery of future promising fields, have mostly been dependent on qualitative research methods such as literature review and expert judgement. Deriving results from large amounts of information under this approach is both costly and time consuming. Efforts have been made to make up for the weaknesses of the conventional qualitative analysis approach designed to select key promising areas through discovery of future core issues and emerging trend analysis in various areas of academic research. There needs to be a paradigm shift in toward implementing qualitative research methods along with quantitative research methods like text mining in a mutually complementary manner. The change is to ensure objective and practical emerging trend analysis results based on large amounts of data. However, even such studies have had shortcoming related to their dependence on simple keywords for analysis, which makes it difficult to derive meaning from data. Besides, no study has been carried out so far to develop core issues and analyze emerging trends in special domains like the aviation industry. The change used to implement recent studies is being witnessed in various areas such as the steel industry, the information and communications technology industry, the construction industry in architectural engineering and so on. This study focused on retrieving aviation-related core issues and emerging trends from overall research papers pertaining to aviation through text mining, which is one of the big data analysis techniques. In this manner, the promising future areas for the air transport industry are selected based on objective data from aviation-related research papers. In order to compensate for the difficulties in grasping the meaning of single words in emerging trend analysis at keyword levels, this study will adopt topic analysis, which is a technique used to find out general themes latent in text document sets. The analysis will lead to the extraction of topics, which represent keyword sets, thereby discovering core issues and conducting emerging trend analysis. Based on the issues, it identified aviation-related research trends and selected the promising areas for the future. Research on core issue retrieval and emerging trend analysis for the aviation industry based on big data analysis is still in its incipient stages. So, the analysis targets for this study are restricted to data from aviation-related research papers. However, it has significance in that it prepared a quantitative analysis model for continuously monitoring the derived core issues and presenting directions regarding the areas with good prospects for the future. In the future, the scope is slated to expand to cover relevant domestic or international news articles and bidding information as well, thus increasing the reliability of analysis results. On the basis of the topic analysis results, core issues for the aviation industry will be determined. Then, emerging trend analysis for the issues will be implemented by year in order to identify the changes they undergo in time series. Through these procedures, this study aims to prepare a system for developing key promising areas for the future aviation industry as well as for ensuring rapid response. Additionally, the promising areas selected based on the aforementioned results and the analysis of pertinent policy research reports will be compared with the areas in which the actual government investments are made. The results from this comparative analysis are expected to make useful reference materials for future policy development and budget establishment.

Changes and Comparative Analysis of Job-offer, Job-search and Small and Medium-sized Companies Before and after the Corona Era (코로나 시대 이전과 이후의 구인·구직 및 중소기업의 변화 및 비교분석)

  • Kim, Youn Su;Chang, In Hong;Song, Kwang Yoon
    • Journal of Integrative Natural Science
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    • v.14 no.1
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    • pp.11-20
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    • 2021
  • On November 17, 2019, an infectious disease with symptoms of pneumonia, called the Wuhan virus at the time, occurred in Wuhan, China. Since then, the name has been changed to COVID-19, and the virus has spread all over the world, and the WHO has declared the highest warning level for infectious diseases, "Pandemic". The coronavirus has also caused great confusion in South Korea. This resulted in large infected people.The first confirmed cases occurred on January 20, 2020, and the number of infected patients is steadily increasing after experiencing several waves, and many corona confirmed cases are also occurring in 2021 after the year. As the whole world enters a pandemic, walls are created between people and people, companies and businesses, and countries and countries, and all growth stops or declines, including human relationships, domestic companies and industries, and foreign industries. As a result, society in general is experiencing a lot of stagnation. Among them, small and medium-sized enterprises (SMEs), which are the basis of all growth in Korea, and youth who are trying to contribute to the national development by entering society, are struggling to find jobs. Even before the coronavirus outbreak, the difficulty of job hunting and the prospect of small and medium-sized businesses were not very good. In this situation, as the country's overall economic situation is poor, the vitality of SMEs has decreased a lot, the prospects are not good, so jobs are reduced, and there are many difficulties due to reluctance to hire new employees. In this study, with 2019 before the corona era and 2020 after the corona era, we compare SMEs before and after the corona era and overall job search and job search activities through average difference analysis, and whether they are affecting through correlation analysis. Through this, it suggests a direction to increase job search through corporate and government policies after raising the prospects of SMEs first.

Relationship between Compulsory Employment System for persons with Disabilities and Health Status (장애인 의무고용제도와 건강상태 간의 연관성)

  • You, Jin Ha;Kim, Ye Won;Yang, Jeong Min;Kim, Jae Hyun
    • Korea Journal of Hospital Management
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    • v.27 no.2
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    • pp.53-66
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    • 2022
  • Aim : The purpose of this study is to investigate the influence of the awareness level of the mandatory employment system for the disabled and the help of the employment increase on the health status of the disabled. Based on this, the purpose of this study is to raise awareness of the compulsory employment system for the disabled and to suggest a way to improve the health of the disabled. Methods : In this study, the first data of the second wave of the 2016-2018 Employment Panel Survey for the Disabled was used to analyze the participation of the disabled in economic activities. a total of 1,648 subjects were analyzed using the chi-square test and generalized estimating equation (GEE). Results : Compared to the group knowing about the compulsory employment system for the disabled, in the group who did not know about the compulsory employment system, the cognitive level was significantly higher for subjective health status (Odds Ratio [OR]: 1.573, 95% Confidence Interval [CI]: 1.252-1.977) and chronic diseases (OR: 1.407, 95% CI: 1.091-1.816), Compared to the group that the compulsory employment system for the disabled is helpful in increasing employment, the group that said it was not helpful at all had depression feel (OR: 2.330, 95% CI: 1.219-4.452) and subjective health status (OR: 2.052, 95% CI: 1.232. -3.416) significantly affected. Conclusion : It was found that the lower the level of awareness and help of the compulsory employment system for the disabled, the negative impact on their health status. Therefore, it is necessary to promote employment growth by raising awareness of the employment system for the disabled. Furthermore, in order to improve the health of the disabled, public relations plans to increase the understanding of the disabled on the system and policies to protect the disabled people who lose their will to work due to difficulties in accessing employment were enacted, and Changes to a disability-friendly working environment should be activated so that participants can participate.

Local Cultural Ecosystem and Emerging Artists: A Study on Hindering Factors in Creative Activities of Young Artists in Gwangju by Adopting Creative Sector Holistic Model (지역문화생태계와 청년예술가 - Creative Sector Holistic Model을 적용한 광주 청년예술가들의 창작 활동 저해요인에 관한 연구 -)

  • Kim, Miyeon;Kim, InSul
    • Korean Association of Arts Management
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    • no.51
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    • pp.5-34
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    • 2019
  • This study is a qualitative study conducted to identify environmental factors that impede emerging artists' ongoing creative activities, focusing on the local cultural ecosystem that they are part of. By doing so, we tried to understand the dynamics between key stake holders in the ecosystem that these young artists interact with and how they build and perceive their own, local cultural environment. The central research question of this study is: what factors impede the continuous creative activities of young artists and what causes them to leave local art scenes? The research was conducted thoroughly on the basis of emerging artists' experience and perspectives and applied to Creative Sector Holistic Model for analysis. The data of this research were collected based on two national-funding projects to support young artists from 2016 to 2018. The main research method of this study was interviews: official and casual interviews were executed with 29 young artists aged 20-34 who work in the fields of painting, literature, sculpture, video, korean traditional music, visual design and crafts. For the analysis of the data, the Creative Sector Holistic Model(Wyszomirski, 2008), which had applied the ecological logic to the creative industries, was applied. The result of this study shows that economic difficulties were not the only hindering factor in their sustainable art-making process. Various impeding factors derived from the local cultural ecosystem have been identified within the Holistic Model, demonstrating that these factors are all intertwined and connected. Thus, analyzing and understanding one's local cultural ecosystem can provide keys to long-term and lasting impacts when a local authorities wish to support young artists for the future of local cultural environment.

Development of Social Entrepreneurship Multidimensional Model and Framework: Focusing on the Cooperation Orientation of Social Enterprises (사회적기업가정신 다차원 모형 및 프레임워크: 사회적기업의 협력지향성을 중심으로)

  • Cho, Han Jun;Sung, Chang Soo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.18 no.2
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    • pp.1-20
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    • 2023
  • The purpose of this study is to identify the unique entrepreneurial behavioral attributes of social enterprises that are distinct from for-profit enterprises at the organizational level, derive a social entrepreneurship model that reflects the unique characteristics of social enterprises as strategic decision-making and organizational behavioral tendencies. In order to effectively achieve the purpose of this study, previous studies were reviewed, and qualitative studies were conducted using the grounded theory method based on this. In this study, social entrepreneurship was identified as five sub-factors through a series of analysis processes, and 'Social value orientation; Innovativeness; Pro-activeness; Risk taking; Cooperation orientation' was newly proposed. It also proposed a new social entrepreneurship framework that integrates and explains the multidimensional model of social entrepreneurship by reviewing and connecting the relationships between each sub-factor of the research model. The 'social entrepreneurship framework' classified the social entrepreneurship model into 'pro-social motivation', 'pro-social behavior', and 'entrepreneurial behavior' attributes and explained them by linking them with each sub-factor that constitutes social entrepreneurship. The most remarkable difference between this study and previous studies is that it identified and added 'Cooperation orientation' as a sub-factor constituting social entrepreneurship from the organizational-level behavioral point of view. Through this study, 'Cooperation orientation' was identified as a major behavioral tendency for social enterprises to materialize pro-social motivation, strengthen the economic foundation of business activities, and improve the efficiency of business operations. 'Cooperation orientation' is a major behavioral tendency that strengthens the legitimacy of business activities between pro-social motivation and profit-seeking of social enterprises, improves the performance of social value creation activities, and overcomes the difficulties of resource constraints through cooperation with the outside and improves operational efficiency. In addition, it was confirmed that 'Cooperation orientation' is a major behavioral tendency of social enterprises that is manifested simultaneously in social value-oriented activities and entrepreneurial activities pursuing profit. The 'Cooperation orientation' newly identified in the study supplements the previous research, increases the explanatory power of the theory of social entrepreneurship, and provides the basis for theoretical expansion to subsequent researchers.

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Mature Market Sub-segmentation and Its Evaluation by the Degree of Homogeneity (동질도 평가를 통한 실버세대 세분군 분류 및 평가)

  • Bae, Jae-ho
    • Journal of Distribution Science
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    • v.8 no.3
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    • pp.27-35
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    • 2010
  • As the population, buying power, and intensity of self-expression of the elderly generation increase, its importance as a market segment is also growing. Therefore, the mass marketing strategy for the elderly generation must be changed to a micro-marketing strategy based on the results of sub-segmentation that suitably captures the characteristics of this generation. Furthermore, as a customer access strategy is decided by sub-segmentation, proper segmentation is one of the key success factors for micro-marketing. Segments or sub-segments are different from sectors, because segmentation or sub-segmentation for micro-marketing is based on the homogeneity of customer needs. Theoretically, complete segmentation would reveal a single voice. However, it is impossible to achieve complete segmentation because of economic factors, factors that affect effectiveness, etc. To obtain a single voice from a segment, we sometimes need to divide it into many individual cases. In such a case, there would be a many segments to deal with. On the other hand, to maximize market access performance, fewer segments are preferred. In this paper, we use the term "sub-segmentation" instead of "segmentation," because we divide a specific segment into more detailed segments. To sub-segment the elderly generation, this paper takes their lifestyles and life stages into consideration. In order to reflect these aspects, various surveys and several rounds of expert interviews and focused group interviews (FGIs) were performed. Using the results of these qualitative surveys, we can define six sub-segments of the elderly generation. This paper uses five rules to divide the elderly generation. The five rules are (1) mutually exclusive and collectively exhaustive (MECE) sub-segmentation, (2) important life stages, (3) notable lifestyles, (4) minimum number of and easy classifiable sub-segments, and (5) significant difference in voices among the sub-segments. The most critical point for dividing the elderly market is whether children are married. The other points are source of income, gender, and occupation. In this paper, the elderly market is divided into six sub-segments. As mentioned, the number of sub-segments is a very key point for a successful marketing approach. Too many sub-segments would lead to narrow substantiality or lack of actionability. On the other hand, too few sub-segments would have no effects. Therefore, the creation of the optimum number of sub-segments is a critical problem faced by marketers. This paper presents a method of evaluating the fitness of sub-segments that was deduced from the preceding surveys. The presented method uses the degree of homogeneity (DoH) to measure the adequacy of sub-segments. This measure uses quantitative survey questions to calculate adequacy. The ratio of significantly homogeneous questions to the total numbers of survey questions indicates the DoH. A significantly homogeneous question is defined as a question in which one case is selected significantly more often than others. To show whether a case is selected significantly more often than others, we use a hypothesis test. In this case, the null hypothesis (H0) would be that there is no significant difference between the selection of one case and that of the others. Thus, the total number of significantly homogeneous questions is the total number of cases in which the null hypothesis is rejected. To calculate the DoH, we conducted a quantitative survey (total sample size was 400, 60 questions, 4~5 cases for each question). The sample size of the first sub-segment-has no unmarried offspring and earns a living independently-is 113. The sample size of the second sub-segment-has no unmarried offspring and is economically supported by its offspring-is 57. The sample size of the third sub-segment-has unmarried offspring and is employed and male-is 70. The sample size of the fourth sub-segment-has unmarried offspring and is not employed and male-is 45. The sample size of the fifth sub-segment-has unmarried offspring and is female and employed (either the female herself or her husband)-is 63. The sample size of the last sub-segment-has unmarried offspring and is female and not employed (not even the husband)-is 52. Statistically, the sample size of each sub-segment is sufficiently large. Therefore, we use the z-test for testing hypotheses. When the significance level is 0.05, the DoHs of the six sub-segments are 1.00, 0.95, 0.95, 0.87, 0.93, and 1.00, respectively. When the significance level is 0.01, the DoHs of the six sub-segments are 0.95, 0.87, 0.85, 0.80, 0.88, and 0.87, respectively. These results show that the first sub-segment is the most homogeneous category, while the fourth has more variety in terms of its needs. If the sample size is sufficiently large, more segmentation would be better in a given sub-segment. However, as the fourth sub-segment is smaller than the others, more detailed segmentation is not proceeded. A very critical point for a successful micro-marketing strategy is measuring the fit of a sub-segment. However, until now, there have been no robust rules for measuring fit. This paper presents a method of evaluating the fit of sub-segments. This method will be very helpful for deciding the adequacy of sub-segmentation. However, it has some limitations that prevent it from being robust. These limitations include the following: (1) the method is restricted to only quantitative questions; (2) the type of questions that must be involved in calculation pose difficulties; (3) DoH values depend on content formation. Despite these limitations, this paper has presented a useful method for conducting adequate sub-segmentation. We believe that the present method can be applied widely in many areas. Furthermore, the results of the sub-segmentation of the elderly generation can serve as a reference for mature marketing.

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Quality of Life and Its Related Factors of Radiation Therapy Cancer Patients (방사선 치료를 받은 암환자의 삶의 질과 관련요인)

  • Shin, Ryung-Mi;Jung, Won-Seok;Oh, Byeong-Cheon;Jo, Jun-Young;Kim, Gi-Chul;Choi, Tae-Gyu;Lee, Sok-Goo
    • The Journal of Korean Society for Radiation Therapy
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    • v.23 no.1
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    • pp.21-29
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    • 2011
  • Purpose: The purpose of this master's thesis is to utilize basic data in order to improve the quality of life of cancer patients who received radiation therapy after analysing related factors that influence patient's quality of life and obtaining information about physical, mental problems of patients. Materials and Methods: By using a structured questionnaire about various characteristics and forms of support, I carried out a survey targeting 107 patients that experienced radiation therapy at a university hospital in the Daejeon metropolitan area from July 15 to August 15, 2010 and analysed the factors influencing quality of life. Results: In case of pain due to disease, 65.15 and painless 81.87 showed a high grade quality of life. As body weight decreases, the quality of life become lower. When the grade of quality of life according to economic characteristics was compared, all items except treatment period showed a difference (P=0.000). When the score of social support, family support, medical support and self-esteem was low, the mark of quality of life showed respectively 61.71, 68.77, 71.31, and 69.39 on the basis of 128 points. When the score of support form was high, the mark of quality of life showed 90.47, 83.29, 90.40, and 90.36 (P<0.05). When analyzing the correlation between social support, family support, medical support and self-esteem and the degree of quality of life, social support was 0.768, family support 0.596, medical support 0.434, self-esteem 0.516. They indicated the correlation of meaningful quantity statistically (P<0.01). The factors that improved the quality of life were married state, having a job and painless status. As monthly income increases, the quality of life was also much improved (P<0.05). Among the factors related to quality of life, social support and medical support and higher self-esteem scores of the quality of life score increased 0.979 point, 0.508 points and 1.667 point, respectively. Conclusion: In conclusion, the quality of life of cancer patients that received radiation treatment is related to social support, medical support and self esteem. Self-esteem is an important factor that influenced quality of life, so if government offers works that doesn't affect patient's health, they are a useful method that maximize self-esteem and lessen their financial burden at the same time. Along with these policies, the developments of the attention of medical and the program for cancer patient's family are needed for the purpose of improving quality of life of cancer patients. Lastly, medical team, patients and family have to cooperate in harmony to overcome difficulties of cancer patients.

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A Study on the Forest Land System in the YI Dynasty (이조시대(李朝時代)의 임지제도(林地制度)에 관(關)한 연구(硏究))

  • Lee, Mahn Woo
    • Journal of Korean Society of Forest Science
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    • v.22 no.1
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    • pp.19-48
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    • 1974
  • Land was originally communized by a community in the primitive society of Korea, and in the age of the ancient society SAM KUK-SILLA, KOKURYOE and PAEK JE-it was distributed under the principle of land-nationalization. But by the occupation of the lands which were permitted to transmit from generation to generation as Royal Grant Lands and newly cleared lands, the private occupation had already begun to be formed. Thus the private ownership of land originated by chiefs of the tribes had a trend to be gradually pervaded to the communal members. After the, SILLA Kingdom unified SAM KUK in 668 A.D., JEONG JEON System and KWAN RYO JEON System, which were the distribution systems of farmlands originated from the TANG Dynasty in China, were enforced to established the basis of an absolute monarchy. Even in this age the forest area was jointly controlled and commonly used by village communities because of the abundance of area and stocked volume, and the private ownership of the forest land was prohibited by law under the influence of the TANG Dynasty system. Toward the end of the SILLA Dynasty, however, as its centralism become weak, the tendency of the private occupancy of farmland by influential persons was expanded, and at the same time the occupancy of the forest land by the aristocrats and Buddhist temples began to come out. In the ensuing KORYO Dynasty (519 to 1391 A.D.) JEON SI KWA System under the principle of land-nationalization was strengthened and the privilege of tax collection was transferred to the bureaucrats and the aristocrats as a means of material compensation for them. Taking this opportunity the influential persons began to expand their lands for the tax collection on a large scale. Therefore, about in the middle of 11th century the farmlands and the forest lands were annexed not only around the vicinity of the capital but also in the border area by influential persons. Toward the end of the KORYO Dynasty the royal families, the bureaucrats and the local lords all possessed manors and occupied the forest lands on a large scale as a part of their farmlands. In the KORYO Dynasty, where national economic foundation was based upon the lands, the disorder of the land system threatened the fall of the Dynasty and so the land reform carried out by General YI SEONG-GYE had led to the creation of ensuing YI Dynasty. All systems of the YI Dynasty were substantially adopted from those of the KORYO Dynasty and thereby KWA JEON System was enforced under the principle of land-nationalization, while the occupancy or the forest land was strictly prohibited, except the national or royal uses, by the forbidden item in KYEONG JE YUK JEON SOK JEON, one of codes provided by the successive kings in the YI Dynasty. Thus the basis of the forest land system through the YI Dynasty had been established, while the private forest area possessed by influential persons since the previous KORYO Dynasty was preserved continuously under the influence of their authorities. Therefore, this principle of the prohibition was nothing but a legal fiction for the security of sovereign powers. Consequently the private occupancy of the forest area was gradually enlarged and finally toward the end of YI Dynasty the privately possessed forest lands were to be officially authorized. The forest administration systems in the YI Dynasty are summarized as follows: a) KEUM SAN and BONG SAN. Under the principle of land-nationalization by a powerful centralism KWA JEON System was established at the beginning of the YI Dynasty and its government expropriated all the forests and prohibited strictly the private occupation. In order to maintain the dignity of the royal capital, the forests surounding capital areas were instituted as KEUM SAN (the reserved forests) and the well-stocked natural forest lands were chosen throughout the nation by the government as BONG SAN(national forests for timber production), where the government nominated SAN JIK(forest rangers) and gave them duties to protect and afforest the forests. This forest reservation system exacted statute labors from the people of mountainious districts and yet their commons of the forest were restricted rigidly. This consequently aroused their strong aversion against such forest reservation, therefore those forest lands were radically spoiled by them. To settle this difficult problem successive kings emphasized the preservation of the forests repeatedly, and in KYEONG KUK DAI JOEN, the written constitution of the YI Dynasty, a regulation for the forest preservation was provided but the desired results could not be obtained. Subsequently the split of bureaucrats with incessant feuds among politicians and scholars weakened the centralism and moreover, the foreign invasions since 1592 made the national land devasted and the rural communities impoverished. It happned that many wandering peasants from rural areas moved into the deep forest lands, where they cultivated burnt fields recklessly in the reserved forest resulting in the severe damage of the national forests. And it was inevitable for the government to increase the number of BONG SAN in order to solve the problem of the timber shortage. The increase of its number accelerated illegal and reckless cutting inevitably by the people living mountainuos districts and so the government issued excessive laws and ordinances to reserve the forests. In the middle of the 18th century the severe feuds among the politicians being brought under control, the excessive laws and ordinances were put in good order and the political situation became temporarily stabilized. But in spite of those endeavors evil habitudes of forest devastation, which had been inveterate since the KORYO Dynasty, continued to become greater in degree. After the conclusion of "the Treaty of KANG WHA with Japan" in 1876 western administration system began to be adopted, and thereafter through the promulgation of the Forest Law in 1908 the Imperial Forests were separated from the National Forests and the modern forest ownership system was fixed. b) KANG MU JANG. After the reorganization of the military system, attaching importance to the Royal Guard Corps, the founder of the YI Dynasty, TAI JO (1392 to 1398 A.D.) instituted the royal preserves-KANG MU JANG-to attain the purposes for military training and royal hunting, prohibiting strictly private hunting, felling and clearing by the rural inhabitants. Moreover, the tyrant, YEON SAN (1495 to 1506 A.D.), expanded widely the preserves at random and strengthened its prohibition, so KANG MU JANG had become the focus of the public antipathy. Since the invasion of Japanese in 1592, however, the innovation of military training methods had to be made because of the changes of arms and tactics, and the royal preserves were laid aside consequently and finally they had become the private forests of influential persons since 17th century. c) Forests for official use. All the forests for official use occupied by government officies since the KORYO Dynasty were expropriated by the YI Dynasty in 1392, and afterwards the forests were allotted on a fixed standard area to the government officies in need of firewoods, and as the forest resources became exhausted due to the depredated forest yield, each office gradually enlarged the allotted area. In the 17th century the national land had been almost devastated by the Japanese invasion and therefore each office was in the difficulty with severe deficit in revenue, thereafter waste lands and forest lands were allotted to government offices inorder to promote the land clearing and the increase in the collections of taxes. And an abuse of wide occupation of the forests by them was derived and there appeared a cause of disorder in the forest land system. So a provision prohibiting to allot the forests newly official use was enacted in 1672, nevertheless the government offices were trying to enlarge their occupied area by encroaching the boundary and this abuse continued up to the end of the YI Dynasty. d) Private forests. The government, at the bigninning of the YI Dynasty, expropriated the forests all over the country under the principle of prohibition of private occupancy of forest lands except for the national uses, while it could not expropriate completely all of the forest lands privately occupied and inherited successively by bureaucrats, and even local governors could not control them because of their strong influences. Accordingly the King, TAI JONG (1401 to 1418 A.D.), legislated the prohibition of private forest occupancy in his code, KYEONG JE YUK JEON (1413), and furthermore he repeatedly emphasized to observe the law. But The private occupancy of forest lands was not yet ceased up at the age of the King, SE JO (1455 to 1468 A.D.), so he prescribed the provision in KYEONG KUK DAI JEON (1474), an immutable law as a written constitution in the YI Dynasty: "Anyone who privately occupy the forest land shall be inflicted 80 floggings" and he prohibited the private possession of forest area even by princes and princesses. But, it seemed to be almost impossible for only one provsion in a code to obstruct the historical growing tendecy of private forest occupancy, for example, the King, SEONG JONG (1470 to 1494 A.D.), himself granted the forests to his royal families in defiance of the prohibition and thereafter such precedents were successively expanded, and besides, taking advantage of these facts, the influential persons openly acquired their private forest lands. After tyrannical rule of the King, YEON SAN (1945 to 1506 A.D.), the political disorder due to the splits to bureaucrats with successional feuds and the usurpations of thrones accelerated the private forest occupancy in all parts of the country, thus the forbidden clause on the private forest occupancy in the law had become merely a legal fiction since the establishment of the Dynasty. As above mentioned, after the invasion of Japanese in 1592, the courts of princes (KUNG BANGG) fell into the financial difficulties, and successive kings transferred the right of tax collection from fisherys and saltfarms to each KUNG BANG and at the same time they allotted the forest areas in attempt to promote the clearing. Availing themselves of this opportunity, royal families and bureaucrats intended to occupy the forests on large scale. Besides a privilege of free selection of grave yard, which had been conventionalized from the era of the KORYO Dynasty, created an abuse of occuping too wide area for grave yards in any forest at their random, so the King, TAI JONG, restricted the area of grave yard and homestead of each family. Under the policy of suppresion of Buddhism in the YI Dynasty a privilege of taxexemption for Buddhist temples was deprived and temple forests had to follow the same course as private forests did. In the middle of 18th century the King, YEONG JO (1725 to 1776 A.D.), took an impartial policy for political parties and promoted the spirit of observing laws by putting royal orders and regulations in good order excessively issued before, thus the confused political situation was saved, meanwhile the government officially permittd the private forest ownership which substantially had already been permitted tacitly and at the same time the private afforestation areas around the grave yards was authorized as private forests at least within YONG HO (a boundary of grave yard). Consequently by the enforcement of above mentioned policies the forbidden clause of private forest ownership which had been a basic principle of forest system in the YI Dynasty entireely remained as only a historical document. Under the rule of the King, SUN JO (1801 to 1834 A.D.), the political situation again got into confusion and as the result of the exploitation from farmers by bureaucrats, the extremely impoverished rural communities created successively wandering peasants who cleared burnt fields and deforested recklessly. In this way the devastation of forests come to the peak regardless of being private forests or national forests, moreover, the influential persons extorted private forests or reserved forests and their expansion of grave yards became also excessive. In 1894 a regulation was issued that the extorted private forests shall be returned to the initial propriators and besides taking wide area of the grave yards was prohibited. And after a reform of the administrative structure following western style, a modern forest possession system was prepared in 1908 by the forest law including a regulation of the return system of forest land ownership. At this point a forbidden clause of private occupancy of forest land got abolished which had been kept even in fictitious state since the foundation of the YI Dynasty. e) Common forests. As above mentioned, the forest system in the YI Dynasty was on the ground of public ownership principle but there was a high restriction to the forest profits of farmers according to the progressive private possession of forest area. And the farmers realized the necessity of possessing common forest. They organized village associations, SONGE or KEUM SONGE, to take the ownerless forests remained around the village as the common forest in opposition to influential persons and on the other hand, they prepared the self-punishment system for the common management of their forests. They made a contribution to the forest protection by preserving the common forests in the late YI Dynasty. It is generally known that the absolute monarchy expr opriates the widespread common forests all over the country in the process of chainging from thefeudal society to the capitalistic one. At this turning point in Korea, Japanese colonialists made public that the ratio of national and private forest lands was 8 to 2 in the late YI Dynasty, but this was merely a distorted statistics with the intention of rationalizing of their dispossession of forests from Korean owners, and they took advantage of dead forbidden clause on the private occupancy of forests for their colonization. They were pretending as if all forests had been in ownerless state, but, in truth, almost all the forest lands in the late YI Dynasty except national forests were in the state of private ownership or private occupancy regardless of their lawfulness.

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