• Korean Journal of Social Welfare
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• v.46
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• pp.7-36
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• 2001

The current benefit expenditure of National Pension Scheme is comparatively small, as it stands in the early stage in reference to the historical development. On the other hand, the current contribution rate of National Pension is set up beyond which is sufficient to cover the current benefit expenditure. Therefore, National Pension makes big surplus every year such that the size of accumulated fund increases very fast. Nevertheless, the apprehension of financial instability of National Pension prevails these days. If so, is it really well-grounded? In terms of the method of financing. public pension schemes of most of all nations in the world are based on pay-as you go or partial funding. Under these financing methods, financial soundness fundamentally depends on the power that the government is able to impose the burden which is equivalent to benefit expenditure and the attitude of the public which represents whether they will admit it or not. Under this perspective, the judgement of financial soundness of public pension can not be made arithmetically and technically only on the basis of the balance between receipts and expenditure but should be accomplished considering the very complex and diverse aspects. In these context, this paper defines what the financial soundness of public pension means specifically and presents the objective indices which help judge it, that is, implicit debt, cost rate, summarized cost rate, pension expenditure as percentage of GDP, and fund rate. Then, applying the indices, this paper analyzes the long-term financial situation of National Pension empirically and evaluates its financial soundness in exploratory perspective.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.105-112
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• 2020

The study investigates and measures the impact of capital structure, profitability and financial performance on the success of the business organization. Capital structure of the business organization refers to the proportion of external funds and internal funds, i.e., debt and equity. In Saudi Arabia, petrochemicals companies are working on equity, but financial performance reflects negative trend for the period 2004 to 2016. The research is based upon secondary data available on the websites of petrochemicals companies of Saudi Arabia. Financial Ratio variability analysis and Trend Indices of financial ratios (TI_CBI) measure and compare the financial variability and sensitivity of financial ratios of the business organization. Correlation between Trend Indices (TI_CBI) of independent variable and dependent variables are to be calculated to know the impact of changes in debt equity on other dependent variables. The results reveal the unexpected performance of petrochemicals companies due to under-utilization of the resources caused by low demand and lower prices of the products governed by some internal and external factors. The study finds that size, demand, cost of production, profitable streams of products, and low cost capital in external funds are the factors responsible for overall growth development of the petrochemicals industry of Saudi Arabia.

• Fourth Industrial Review
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• v.2 no.1
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• pp.19-32
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• 2022

Purpose - As new technologies that have led the 4th industrial revolution spread after the COVID-19 pandemic, the business crisis of existing financial institutions and the threat of employee jobs are growing, especially in the financial sector. The purpose of this study is to propose a human-technology convergence curriculum for creating high value-added in financial institutions and upskilling financial manpower. Research design, data, and methodology - In this study, a curriculum was designed to strengthen job competency for Private Bankers, high-quality employees of a bank dealing with high-net-worth owners. The focus of the design is that learners acquire skills to use robo-advisors as a tool and supplement artificial intelligence ethics. Result - The curriculum is organized into a total of 16 classes, and the main contents are changes in the financial environment and financial consumers, the core technology of robo-advisors and AI ethics, and establishment and evaluation of hyper-personalized asset management strategies using robo-advisors. To achieve the educational goal, two evaluations are performed to derive individual tasks and team project results. Conclusion - Human-centered upskilling convergence education will contribute to improving employee value and expanding corporate high value-added business areas by utilizing new technologies as tools. It is expected that the development and application of convergence curriculum in various fields will continue to be advanced in the future.

• The Korean Journal of Franchise Management
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• v.15 no.1
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• pp.61-78
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• 2024

Purpose: Dining out at restaurants was limited during the COVID-19 period. In order to confirm the impact of COVID-19 on the chicken market, this study selected three chicken companies, Kyochon, BBQ, and BHC, and conducted financial statement analysis and regression analysis. Research design and methodology: Each company's financial statements were divided into before and after COVID-19, and the rate of change and financial ratio for each item were calculated to see if there were any significant changes, and the impact of COVID-19 on each company's sales was identified through regression analysis. Result: As a result of the study, the increase in sales and assets of each company continued, and the influence of COVID-19 could be confirmed through regression analysis. It can be inferred that COVID-19 indeed affected the expansion of the chicken market. Conclusion: Therefore, it was confirmed through this study that COVID-19 had a significant effect on the growth of the chicken market. While individual chicken small business owners are grappling with declining sales per outlet, the decline of commercial areas, and a surge in closures, the broader chicken franchise industry is witnessing a surge in demand and business expansion prompted by the pandemic.

• Journal of Family Resource Management and Policy Review
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• v.21 no.1
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• pp.45-63
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• 2017

The purpose of this study was to emphasize the household financial education as a part of family life education, especially when provided at local community level; it also examines diverse measures by which to deliver such education. To this end, the current study focuses on the education programs of a healthy family support center, which has been established as a representative transmission system. The current status of its operations was examined, and practical measures by which to stimulate the delivery of financial education within that center were derived. In more detail, previous studies inside and outside of Korea were examined, and the current status of financial education included in the area of family life education was assessed; as a result of these assessments, the definition and objectives of financial education as family life education were adjusted. The limits of financial education that has been delivered thus far were reviewed, with the aim of proposing measures by which to sufficiently stimulate the delivery of financial education programs-programs that ultimately reflect the healthy family philosophy. This study proposes four specific measures by which to stimulate financial education. The first is the application of 'life cycle perspectives' to educational terms. The second is the activation of financial education programs that involve the family unit as educational subjects. Third, the delivery of lectures which related to the financing and nurturing of program coordinators was proposed. The fourth is drawing a connection between online and offline education in terms of effectively applying teaching methods. Ultimately, the results of this study can be used as basic data to inform the planning, development, and operational stages of financial education programs within family life education, which can be performed in healthy family support centers in the future.

• Korean Journal of Construction Engineering and Management
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• v.23 no.4
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• pp.36-46
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• 2022

It takes a relatively long time for construction companies that lack the ability to finance to adapt to construction policy in the construction industry. However, financial institutions rarely provide financial products to construction companies, particularly small and medium-sized construction companies, because their security capacity and credit rating are low. This study investigates the financial products needed for small and medium construction companies to adapt to policy changes. The demand of small and medium construction companies for financial products is analyzed by experts' advise and survey. And, when the investigated financial products for the construction industry are introduced, the legal systems in need of revision are analyzed. Based on the analyzed demand and the number of legal systems needing revision, the priority for the introduction of financial products to the construction industry is analyzed. Among the financial products investigated, the priority of "Expert consultation, such as accountant, tax accountant, lawyer, etc." is the highest. In future studies, the criteria and method of financial product development for high-priority financial products could be researched.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 1993.04a
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• pp.62-71
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• 1993

Recently, the computer software technology is not keeping pace with the increasing demand of application software development and rapid changes in business environment. To overcome this "software crisis", many researchers have studied the methodologies to improve the productivity in software development and the flexibility of software usage. Among these methodologies, the most promising and intensively studied methodology is the Object-Oriented Approach The purpose of this study is, therefore, to examine the applicability of the Object-Oriented Approach for improving productivity and flexibility in Management Information Systems development. For an application, we selected a financial planning model, especially focusing on the budgeted income statement. In this thesis, we identified relevent objects in the budgeted income statement, and represented them in the object models. By implementing these object models using C++ language, we evaluated their adaptability in the budget-making process, and showed, by comparing them with the existing Planning '||'&'||' Modeling Languages such as IFPS(Interactive Financial Planning Saystem), their practicability in Management Information Systems. The results of this study are as follows: First, the same object models can be used in making the budgeted income statement both in the department level and in the corporate level. Second, the object models provide the flexibility and extensibility of an application program in case of the changes in business environment. Third, the Object-Oriented Approach is a practical methodology to improve the productivity and cut down the maintenance cost of application software development.t.

• Journal of Navigation and Port Research
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• v.40 no.5
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• pp.329-336
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• 2016

The overall purpose of this paper is to conduct research on alternatives for strengthening the competitiveness of a state-run shipping company, Vinalines Corporation, the largest shipping and maritime enterprise in Vietnam. The first section of the introduction gives a panoramic overview of the current development situation of the Vietnam maritime industry and Vinalines. After summarizing a literature review in section 2, some alternatives are proposed in sections 3 and 4 to overcome the current difficulties of Vinalines and to improve the corporation's competitiveness for sustainable development by utilizing linear optimization and financial analysis. The final section presents a summary and recommendation for future study. It is concluded that privatization is the key solution for every problem faced by the corporation at present. Furthermore, modification of laws, restructuring of enterprise governance, financial situation, and fleet are also extremely necessary.

• East Asian Economic Review
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• v.24 no.1
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• pp.89-124
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• 2020

Even with the sizable Foreign Exchange (FX) holdings and good credit ratings of its top assets, Asia remains vulnerable to various shocks. This paper highlights the limited cross-border asset pledgeability as a significant factor for the lingering vulnerability in Asia. The dichotomy in asset holdings between pledgeable FX and non-pledgeable domestic assets in major economies in Asia has been the source of increasing stabilization costs as well as weakened market momentum in the region. Specifically, the peculiar feature of asset holdings in Asia reflects seriously deficient cross-border asset pledgeability that is left unaddressed. Asset pledgeability contributes toward financial stability via three channels: 1) capital market development by recognizing the role of collateral, 2) increased shock absorption capacity via collateral management, 3) and the newly activated safe asset provision. Therefore, it is crucial to go beyond the usual market development strategy and expand the overall asset pledgeability in the region that has remained unduly depressed.

• World Technopolis Review
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• v.8 no.2
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• pp.82-91
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• 2019

The value of universities in driving economic development has been understood for a long time. However, with the increasing importance of the 'science-entrepreneurship' relationship in giving science its modern economic value there is growing interest in how this dynamic can be enhanced. One of the strategies that has been widely adopted has been the creation of research-science-technology parks although commonly these projects were being established prior to the theoretical approaches that justify their development. This paper reports on a study that measured the financial value of the links between the University of Surrey and tenants on its Surrey Research Park project and also looks forward at strategies being adopted by the University concerning the continuous improvement of its technology transfer offering to increase the value of these links and put some empirical data behind the claims of the value of research-science-technology parks as part of a wider innovation strategy.