• Journal of Korean Society of Industrial and Systems Engineering
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• v.44 no.2
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• pp.102-114
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• 2021

NDF (No Defect Found) is a phenomenon in which defects have been found in the manufacturing, operation and use of a product or facility, but phenomenon of defects is not reproduced in the subsequent investigation system or the cause of the defects cannot be identified. Recently, with the development of the fourth industrial revolution, convergence of hardware and software technologies in various fields is spreading to products such as aircraft, home appliances, and mobile devices, and the number of parts is increasing due to functional convergence. The application of such convergence technologies and the increase in the number of parts are major factors that lead to an increase in NDF phenomena. NDF phenomena have a significant negative impact on cost, reliability, and reliability for both manufacturers, service providers and operators. On the other hand, due to the nature of NDF phenomena such as difficult and intermittent cause identification and ambiguity in judgment, it is common to underestimate the cost of NDF or fail to take appropriate countermeasures in corporate management. Therefore, in this paper, we propose a methodology for estimating NDF costs by the PAF model which is a quality cost analysis model and ABC (Activity Based Costing) technique. The methodology of this study suggests a detailed procedure and the concept to accurately estimate the NDF costs, using ABC analysis, accounting system information, and IT system data. In addition case studies have validated the methodology. We think this could be a valid methodology to refer to when estimating the cost of other parts. And, it is meaningful to provide important judgment information in the decision-making process based on quality management and ultimately reduce NDF costs by visualizing them separately by major variable factors.

• Journal of Korea Trade
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• v.24 no.6
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• pp.1-18
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• 2020

Purpose - This study investigates whether a listing effect exists in cross-border M&As and whether the effect can be attributed to the uncertainty of the GDP growth rate in the target firm's home country. We apply a joint variable analysis using M&A announcement data from the Korea Exchange (KRX), Shanghai Stock Exchange (SSE), and the Taiwan Stock Exchange (TWSE) from 2004 to 2013. We also conduct an event study using the measure of the uncertainty of the GDP growth rate (based on IMF statistics) in 55 target countries. Design/methodology - We measure the abnormal return (AR) using the market-adjusted model. We test the significance of the AR and the cumulative abnormal return (CAR) using a one-sample t-test. We examine the characteristics of the CARs depending on whether the target company is listed by applying a difference analysis using CAR as a test variable. In addition, we set CAR (-5, +5) as a dependent variable to identify the cause of the listing effect, and test both the financial characteristic variables of the acquirer and the collective characteristic variables of the merger as independent variables in the multiple regression analysis. Findings - First, we find the listing effect of cross-border M&As in the KRX, SSE, and TWSE, which represent the capital markets in Korea, China, and Taiwan, respectively. This listing effect persists during the global financial crisis and has a negative effect on the wealth of acquiring shareholders, especially when the target countries are emerging markets. Second, greater uncertainty regarding the target countries' economic growth in cross-border M&As has a negative effect on the wealth of acquiring firms' shareholders. Third, our empirical analysis demonstrates that the listing effect is attributable to the fact that firms listed in a target country with greater uncertainty of economic growth are more directly and greatly exposed to uncertain capital markets through stock markets, than are unlisted firms. Originality/value - This study is significant in that it presents a new strategic perspective in the study of cross-border M&As by demonstrating empirically that the listing effect is attributable to the uncertainty regarding the economic development of the target firms' home countries.

• Journal of Korea Trade
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• v.26 no.1
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• pp.20-32
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• 2022

Purpose - This paper intends to make theoretical analysis and empirical test on the factors influencing China's export to South Korea, and draw conclusions about China's export efficiency and trade potential. Based on the conclusions, the reasons for China's trade deficit with South Korea are found, and a solution is put forward for solving the problem of China's trade deficit with South Korea. Design/methodology - Based on the data of 2004-2017 years in China, this paper uses the stochastic frontier gravity model to analyze the influencing factors of China's export to South Korea, as well as the export efficiency of each province and the export potential that can be explored. Findings - First, in terms of the factors affecting China's export trade to South Korea, the GDP of the provinces and cities in China, the FDI of South Korea to the provinces and cities in China, the GDP of South Korea, the population and education level of provinces and cities in China can significantly promote the export scale of Chinese provinces and cities to South Korea. The distance between Chinese provincial capitals and the South Korean capital significantly hinders Chinese exports to South Korea; Second, in terms of export trade efficiency, the trade exchange rate of the economically developed cities along the eastern coast of China and several provinces that are close to South Korea is higher than that of the cities in the central and western regions; Third, economic globalization makes trade more convenient, the average export trade efficiency of China's exports to South Korea showed an upward trend. However, under the influence of the 2008 global financial crisis, the export trade efficiency declined from 2008 to 2009, indicating that the impact of the financial crisis on the trade efficiency cannot be ignored. Originality/value - This paper finds out the influencing factors of China's export to South Korea, analyzes the export efficiency of different provinces and cities, excavates the export potential, and puts forward some suggestions for the balanced development of China and South Korea trade in the next step.

• International Journal of Computer Science & Network Security
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• v.22 no.8
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• pp.269-274
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• 2022

Economy of Ukraine is characterized by the rapidly increased level of financial failures at a corporate level. Conditions of doing business in Ukraine become tighter year after year and it should motivate the business owners not only to watch more accurately the state in which their business is but also to introduce new, more precise, more tight systems of crisis management and economic security. The experience shows that in order to stay afloat and not to suffer losses companies should pay more attention to different areas of economic security, such as production potential, financial indicators, logistics, staff, etc. For this purpose companies should use a system of valuation of the most important for their activity indicators and transform their values in an integral one in order to use this assessment in making managerial decisions. Such a valuation is one of the components which the article presents. The article also reveals the key points which characterize crisis management as an integral part of enterprise development and economic security. There are specified the essence and problems of crisis management and proposed the ways of raising the level of economic security of a company based on the example of an industrial and commercial enterprise. The key focus of the enterprise's economic security management is defined as constructive responses to threats from the external environment and, as a result, ensuring stable functioning and effective realization of untapped potential in the future. The current assumption is to explain the scheme of strategic management of an industrial and commercial enterprise and to calculate the methodology of an express assessment of the level of enterprise economic security, taking into account the components of crisis management. To assess the level of economic security of the enterprise, it is proposed to use the method of point assessment, which is based on a multi-level system of indicators, which covers the main areas of the enterprise's activity.

• International Journal of Computer Science & Network Security
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• v.23 no.2
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• pp.1-12
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• 2023

The article examines the axiological psycho-philosophical understanding of the phenomenon of money and its value role in modern society. The traditional and virtual context of the representation of the money phenomenon is considered.Following the ideas of G. Simmel, the authors consider money not only as a purely economic, but also a psycho-philosophical, cultural and social phenomenon. Money appears as a result of cultural development of the world and gradually forms a monetary culture as a space of economic and social interaction of people. Under the influence of the monetary culture of one or another historical period, the character of a person's economic activity, values and life orientations are formed. Modern money culture is often called financial civilization. Peculiarities of modern monetary culture are studied, its main features and problems are determined in the article. The problem of the peculiarities of the constructive and destructive attitude of the individual towards money is identified; a psycho-philosophical and cultural-identification typology of people is described, which is based on clinical observations and interpreted through the prism of psychoanalytic theory. The concept of money is highlighted from the standpoint of a social-psychological approach. The theoretical foundations of money's influence on the decision-making process and human behavior are also revealed.

• Korea Journal of Hospital Management
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• v.28 no.1
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• pp.37-51
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• 2023

Purposes: There exist many non-covered services that the National Health Insurance does not cover, and thus, their prices are set by individual health care providers. However, little study has been done to investigate how hospitals set prices for those services. The purpose of this study is to examine the relationship between ownership, profitability, and prices of those services for a sample of general hospitals. Methodology/Approach: Data regarding the prices of major non-covered services (e.g., upper-level hospital room fees, MRI, Da 7inci robot surgery, and LASIK) were obtained from the Health Insurance Review and Assessment Service and the financial information, as well as other characteristics, were derived from the financial reports from the Korea Health Industry Development Institute. Descriptive statistics, t-tests, and multiple linear regression analyses were used to test the relationship between the independent variables and the dependent variables. Findings: Hospitals owned by private universities appeared to have higher prices for non-covered services while regional public hospitals tend to have lower prices. Profitability, measured by operating margin, was not significantly related to the prices. Hospitals that charge higher prices were more likely to be located in the capital area (Seoul, Incheon, and Gyeonggi), and to employ larger number of personnel. Practical Implications: Public hospitals tend to charge lower prices for non-covered services. Relative market power appears to be related to pricing. Further research is needed to investigate whether such a relationship varies over time and its effects on the quality and access.

• Journal of Convergence for Information Technology
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• v.12 no.3
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• pp.38-45
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• 2022

Due to the development of fintech technology, financial transactions using smart phones are being activated. The password for user authentication during financial transactions is entered through the virtual keypad displayed on the screen of the smart phone. When the password is entered, the attacker can find out the password by capturing it with a high-resolution camera or spying over the shoulder. A virtual keypad with security applied to prevent such an attack is difficult to input on a small touch-screen, and there is still a vulnerability in peeping attacks. In this paper, the entire keypad is divided into several groups and displayed on a small screen, touching the group to which the character to be input belongs, and then touching the corresponding character within the group. The proposed method selects the group to which the character to be input belongs, and displays the keypad in the group on a small screen with no more than 10 keypads, so that the size of the keypad can be enlarged more than twice compared to the existing method, and the location is randomly placed, hence location of the touch attacks can be blocked.

• 한국체육학회지인문사회과학편
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• v.54 no.3
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• pp.315-325
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• 2015

Because our country was currently carrying out of municipality, a local independent athletic policy was required. The purpose of this study was to identify what extent athletic budget apportioned from the government, and review how to allocate a reasonable budget for each local government. We investigated detailed current situation of policy through literature review. Based on the athletic budget of the central government, financial independence rate of local governments, the results of 2012 London Olympics, and etc, the conclusions are as follows. (1) It should be increased more the athletic budget of the government. In addition, it should be stopped that the proceeds generated from the sports business is supported in unrelated sports sector. (2) It should be supported by considering the financial independence rate of local government and local characteristics. (3) It should be supported by the different rate based on a fair assessment results of each sports group. (4) Sports for all aid projects should be transformed into quality-based aid increasing the actual value from quantity-based support. (5) It should establish the valid principles and standards that can be fair distribution of athletic finances.

• Asia-Pacific Journal of Business
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• v.14 no.1
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• pp.149-169
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• 2023

Purpose - The main purpose of this study is to develop the stress test model for Korean banks by exploring the optimal Monte Carlo simulation and BIS forecasting model. Design/methodology/approach - This study selects 15 Korean banks as sample financial firms and collects relevant 76 quarterly data for the period between year 2000 and 2018 from KRX(Korea Excange), Bank of Korea, and FnGuide. The Regression analysis, Unit-root test, and Monte Carlo simulation are hired to analyze the data. Findings - First, most of the sample banks failed to keep 8% BIS ratio for the adverse and severely Adverse Scenarios, implying that Korean banks must make every effort to realize better BIS ratios under adverse market conditions. Second, we suggest the better Monte Carlo simulation model for the Korean banks by finding that the more appropriate volatility should be different depending on variables rather than simple two-sigma which has been used in the previous studies. Third, we find that the stepwise regression model is better fitted than simple regression model in forecasting macro-economic variables for the BIS variables. Fourth, we find that, for the more robust and significant statistical results in designing stress tests, Korean banks are required to construct more valid time-series and cross-sectional data-base. Research implications or Originality - The above results all together show that the optimal volatility in designing optimal Monte Carlo simulation varies depending on the country, and many Korean banks fail to pass sress test under the adverse and severely adverse scenarios, implying that Korean banks need to make improvement in the BIS ratio.

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

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