• International conference on construction engineering and project management
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• 2015.10a
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• pp.683-684
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• 2015

Project Financing (PF) is the long-term financing of infrastructure and industrial projects based upon the projected cash flows of the project rather than the balance sheets of its sponsors. However, the financial institution, the subject of financing in the case of PF in Korea, the lack of validation system of business, rather than to assess the feasibility of the project, requested a credit reinforcement to the construction company, the fact is Construction Company on loans of the employer is the guarantor or debt argument commitments accordingly. As a result, PF contingent liabilities, which are indirect debt, are triggered in the construction company, not included in the financial statements, along with the disclosure standards established according to 2009 PF contingent liabilities, and major can be a management item. In this study, PF contingent liabilities is of Pearson of the index and the PF debt ratio showing the main financial ratios and risk by classifying the credit rating and contractors Ranking of construction companies in order to analyze the impact on the financial condition of the company was performed correlation analyzes, through the Pearson correlation coefficient analysis indicated quantitative or negative relationship to derive the explicit indication.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2005.11a
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• pp.137-140
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• 2005

Given importation of After-Sale System, we may assume that it comes to be changed on housing industry Construction companies have applied installment sale to fund of building, but now they have to take it upon themselves to borrow from PF(Project Financing) on the banking system. The purpose of this study is to assume the change and influence in the construction fund after adopting After-Sale system and suggests the appropriate strategy in PF for providing fund. Construction Companies can produce their Profits by concentrating on reconstruction part especially in the metropolitan area. And They make their own brands and have their competitive power. In this housing market, if After-sale system comes publically, there will be big changes. Until now many companies have no difficulties in making funds to manage construction activity. But After-sale system gives difficulties to many companies. Therefore they have to prepare their own funds under their responsibilities from banks of Project financing.

• Korean Security Journal
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• no.62
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• pp.9-33
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• 2020

This study presents aspects of the financing of terrorism using virtual-currencies. Fisrt of all, this introduces the conventional threat of the financing of terrorism and the analysis of current legal system regarding virtual-currency in South Korea. Next, the financing of terrorism cases are analyzed. With given analysis, the paper deals with its response and future extensions by technical and institutional aspects. The threats of the financing of terrorism are going higher after the appearance of virtual-currencies such as Bitcoin. There are two typical ways to use virtual-currencies by terrorist groups. One is to conduct public fund-raising in the social network system and the dark web. The other is to hack into virtual-currency exchange network in order to steal virtual currencies for developing the weapon of mass destruction. Specifically South Korea is top three country of trading virtual currencies and has been subject to virtual-currency hacking more than 10 cases. However, many countries including South Korea deal with virtual currencies as only innovative technology and means of investment, not the threats of the financing of terrorism. Under these circumstances, there a the legal contradiction. This article points this limit and absurdity. Also, it shows reasonable alternatives. All in all, given these aspects, the article proposes detailed policy directions.

• Journal of Energy Engineering
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• v.18 no.3
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• pp.175-190
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• 2009

This study examines the influence of scale economy, technology, financing capability and market competition on economic performance by value chain in Korean solar energy companies, using the multiple logistic regression analysis. The current profit ratio is analyzed to have been positively affected by financing capability, while negatively by market competition. The scale economy and technology are analyzed to have no statistical significance on the economic performance. The current profit ratio for companies creating higher value in the sourcing process is negatively affected by technology while positively by financial capability. The one in the manufacturing process is affected positively by technology and financing capability, and the one in the marketing process is affected positively by financing capability while negatively by market competition. The implications of this study are as follows: Korean solar energy industry is recommended i) to establish the specific innovation system for technology development, ii) to set up advanced financial system, iii) to carry out the fractal system, the manufacturing system through the network of the firms owning core competence per value chain.

• The Journal of Fisheries Business Administration
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• v.14 no.2
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• pp.110-138
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• 1983

After Liberation of Korea, Korean fisheries economy fell into an exhausted conditions because of the damage of Japanese colonization policy and the Korean War, and fisheries organizations of those days established for the improvement of fishermen's welfare could not carry out their primary purposes and functions. Under such circumstances, Fisheries Cooperatives starting on April 1st in 1961 played a great role in settling the socio-economic confusion of those days. Fisheries financing was also more systematic and substantial after establishment of Fisheries Cooperatives. In fact fisheries industry was faced with much more riskiness than any other industry on account of its speciality and such a riskiness induced general financial institutions to be reluctant to lend money to the fishermen. In order to overcome such a capital rationing, it was necessary to establish the reciprocal financing system based on the principle of mutual protection of economic weakers. Credit business in Fisheries Cooperatives beginning in 1963 was mainly dependent on governmental fund as fund sources. But the size of fund was too small to satisfy fishermen's fund demand, therefore Fisheries Cooperatives carried out the movement of raising its own fund. As a result of the movement the ratio of its own fund to total funds amounted to 47.7% in 1980, but external funds still take a greater part of all funds. To settle the weakness of the ratio of its own fund and chronic deficiency of fund, a conclusion can be drawn as follows : 1. The enlargement of Fisheries Cooperatives' raising ability of funds. .The expansion of urban branch to absorb idle funds in urban area. .The diversification of financing service to compete with genetral financial institutions. 2. The enlargement of governmental fund and preferential treatment of fishermen's savings. 3. Vitalization of mutual finance and fixation of Fisheries Cooperatives' two-phase organization. 4. The re-enforcement of supervisory financing and post management system.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.601-605
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• 2008

In the current Public-Private Partnership, Applying Ex-post management is rising after the completion of construction. So, Advanced countries of construction are getting additional profit from Re-financing while repairing system about Re-financing. But within the our country positive introduction is difficult because of insufficient of social sympathy about Re-financing, shortage of support from government and imperfection of detail regulation. So this study analyzes the cases of Ex-post management Which are applied to Public-Private Partnership that is adopted by project financing in domestic and overseas field and considers plans which can apply more efficiently in Public-Private Partnership. We anticipate that the results of this study can be utilized for materials that can help people who want to understand hereafter introduction of Ex-post management in domestic Public-Private Partnership and expect that the materials can be used for data developing system of Ex-post management.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.39
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• pp.143-175
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• 2008

The documentary letter of credit is the most preferred and frequently used method in International Payment System in Korea, as it has less possibility of occurring credit risks in export than any other payment system. That's because the exporter can get payment from the issuing bank(confirming bank) by delivering the goods and presenting documents following the required procedure under the letter of credit, as the payment is affirmed by the issuing bank(including the confirming bank in case of the confirmed letter of credit) regardless of the buyer's payment. However, the pattern of payment methods used in international trade of Korea is changing dramatically like the importance of the credit is decreasing continuously among the payment methods while the remittance is increasing. The increase of remittance has a positive aspect that International Payment System are changing into those of advanced countries, but the decrease of the credit also has a negative aspect that the exporter might have a greater credit risks. Therefore, we need a systematic device to deal with this. Exporters in Korea usually have used the export credit insurance to deal with the credit risks However, the export credit insurance also have a limitation as the policy finance due to the limitation based on the credit status of the business and the limitation of acceptance from the lack of financial resources of the government, etc. Korea, which is the 11th export power in the world, has a basic limitation to deal with the credit risks by depending on the export credit insurance only. So, in this thesis, I have studied on the international factoring, forfaiting, which are advanced export finances and widely used in advanced countries, as substitutes to deal with the credit risks. the international factoring is an trade financing in which a factor offers full services such as credit cover, offering prepayment, collection, account receivables, management, etc, instead of the exporter on the account receivables occurred by the exporter's delivering goods to the importer. This international factoring has a high possibility of using as a means to deal with the credit risks, because it offers prepayment without recourse. the forfaiting is another export financing in which a forfaiter purchases the draft, the promissory note and other negotiable instruments issued from the international trade, with fixed interest rate without recourse from the exporter or previous holder. By using this method, they can avoid foreign exchange risks, contingency risks as well as credit risks, as the conveyances like the promissory note, etc are issued with the note warranty so-called 'per aval' in business practice. These trade financing are good substitutes to deal with the credit risks in export, but they are not widely used in Korea. Though it can be explained with various reasons, the common reasons are the lack of understanding on the use of advanced export finance, the lack of experts to manage the advanced trade finance, the conservative way of thinking of domestic organizations related to trade financing, the lack of organizations supporting the trade financing, etc.

• Journal of Labour Economics
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• v.37 no.4
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• pp.89-112
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• 2014

This paper characterizes an optimal combination of grant and income-contingent loans (ICL) from efficiency and equity points of view as a government subsidy program for higher-education. In particular, we show that it is always desirable to introduce ICL for students regardless of their household incomes, and also provide arguments for the superiority of tax-financing system to loans with risk-premium as a financing mechanism of ICL. From policy point of view, this paper suggests a need for the extended coverage of our ICL system, while justifying its current tax-financing system.

• Current Research on Agriculture and Life Sciences
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• v.3
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• pp.203-218
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• 1985

In Korea, the developmental gap is deep between rural and urban areas in spacial aspect and, or between agricultural and industrial side. So there are much room for improvement in agri. development in national standpoint as well as in individual farmer's level. In this respect, agricultural financing is requisitive to speed up the pace of agricultural development and in result, to contribute to improvement of farm income. By the way, farmers' credit demands are always in excess-demand status and they rely on private money-lenders in the burden of high interest rate. In agricultural financing market, there are two kinds of credit ; institutional credit and non-institutional credit market, that is private money-lending. In institutional credit, there are mutual credit system operating by the primary coops and policy credit system by NACF financed by Government in part. Here, in this paper, I venture to study on the improvements of the policy credit system to increase and activate the supply function of agri. policy credit into farmers to enhance their socio-economic status.

• Korea Journal of Hospital Management
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• v.15 no.4
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• pp.1-26
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• 2010

We achieved both industrialization and democratization during the shortest period in the world. We also achieved good performance in national health insurance: universal coverage, solidarity in financing, equitable access of health care. However, national health insurance system has faced the problem of sustainability: various expenditure and financing problems. The problem of sustainablity has two facets of economic sustainability and fiscal sustainability. Economic sustainability refers to growth in health spending as a proportion of gross domestic product(GDP). Rapid increasing rate of health spending exceeds the growth rate of domestic product. Growth in health spending is more likely to threaten other areas of economic activity. Concern on fiscal sustainability relates to revenue and expenditure on health care. Health care financing face demographic and technical obstacles. Democratic obstacle is aging problem. Technical obstacle is collection of contribution. Expenditure of health care has various problems in benefit structure and efficiency of health care system. In this article, I suggest several policy reforms to enhance sustainability: generating additional revenue from value added tax, changing method of levying contribution, increasing efficiency of health care system by introducing the competition principle. restructuring of benefit scheme of health insurance. contracting with health care institutions to provide health care services.