• Management & Information Systems Review
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• v.36 no.4
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• pp.21-32
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• 2017

Motivated by the recent cases of negligent social responsibility as manifested by foreign luxury fashion brands in Korea, this study investigates whether agency costs depend on the sustainability of different types of corporate governance. Agency costs refer either to vertical costs arising from the relationship between stockholders and managers, or to horizontal costs associated with the potential conflicts between majority and minority stockholders. The firms with luxury fashion brand could spend large sums of money on maintenance of magnificent brand image, thereby increasing the agency cost. On the contrary, the firms may hold down wasteful spending to report a gaudily financial achievement. This results in mitigation of the agency cost. Agency costs are measured by the value of the principal component. First, three ratios are constructed: asset turnover, operating expense to sales, and earnings before interest, tax, and depreciation. Then, the scores of each of these ratios for individual firms in the sample are differenced from the ratios for the benchmark firm of S-OIL. S-OIL was designated as the best superior governance model firm for 2013 by CGS. We perform regression analysis of each agency cost index, luxury fashion brand dummy and a set of control variables. The regression results indicate that the agency costs of the firms with luxury fashion brand exceed those of control group in the fashion industry in the part of operating expenses, but the agency cost falls short of those of control group in the part of EBITD, thus the aggregate agency costs are not differential of those of the control group. In sensitivity test, the results are same that the agency cost of the firms are higher than those of the matching control group with PSM(propensity matching method). These results are corroborated by an additional analysis comparing the group of the companies with the best brands with the control group. The results raise doubts about the effectiveness of management of the firms with luxury fashion brand. This study has a limitation that the research has performed only for 2013 and this paper suggests that there is room for improvement in the current research methodology.

• Journal of the Korean Society of Food Culture
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• v.11 no.4
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• pp.455-463
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• 1996

A survey was conducted to investigate the perceptions of health and foods, and the food habits among the elderly men who came to the Tap-Gol park on a daily basis. A total of 253 subjects were selected for this study. The data was analyzed through the $X^2-test$, Duncan's multiple range test and Pearson Correlation by the use of SAS program. The results were as follows. The majority of the subjects were in their 70's. 56.1% of them lived with their sons' families, 9.1% lived alone, and 27.3% lived with a spouse. 32% of the subjects were living with the expense less than 50,000 won per month. Although some were suffering from such diseases as arthritis, indigestion, and hypertension etc., the subjects were generally in good health. Their dependance on dietary supplements were insignificant. Most of the subject had a common-sensible notion as to health. They put emphasis on the three factors for the maintenance of good health: a balanced diet, a peace of mind and exercising. With regard to the food habits, the majority were fair in general. The subject living with family had more regular meals than the single people did. 41.5% of the subjects responded that they had irregular meals, mainly for lunch due to a poor appetite or a financial problem. The respondents cited protein food, milk, fruit, sea weeds and food cooked with oil as conducive to good health. But what they consumed did not match what they thought was good, particularly milk. The results of this study lead to the suggestion that Korea need to develop such a lunch program for the elderly as is practiced in the U.S., through which dietary motivation can be stimulated and a low-priced and balanced diet offered at least for one meal a day.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.41 no.5
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• pp.581-589
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• 2021

With the recent increase in the introduction of micro-electric vehicles in Korea, interest in micro-electric vehicle user satisfaction is increasing to revitalize related markets. In this paper, a basic study was conducted on the development of public services using micro-electric vehicle based on the constituent factors of user satisfaction. The survey includes: ① 'Analytic Hierarchy Process (AHP) for selecting the priority factors of user satisfaction of micro-electric vehicles', ② 'A survey of micro-electric vehicles image' to collect data in advance for providing users' preferences and transportation services for micro-electric vehicles, ③ In order to investigate the user satisfaction level of users who actually operated micro-electric vehicles, the order of 'user satisfaction survey of micro-electric vehicle drivers' was conducted. In the Analytic Hierarchy Process (AHP) analysis, it was found that users regarded as important in the order of 'user utilization data', 'vehicle movement data', and 'charging service data'. In the micro-electric vehicle image survey, users perceived micro-electric vehicles more positively in terms of "safety", 'durability', 'Ride comfort', 'design', 'MOOE (Maintenance and other operating expense)', and 'environment-friendly' when comparing micro-electric vehicles with electric motorcycles. In the survey on the user satisfaction of micro-electric vehicle drivers, the use of micro-electric vehicle did not directly affect work performance efficiency, and there was an experience of being disadvantaged on the road due to the size of the micro-electric vehicle, and driving in a cluster of micro-electric vehicle for outdoor advertisements. The city's public relations effect was great, but it was concerned about safety. In the future, based on the results of this study, we plan to build a user satisfaction structural equation model, preemptively discover feedback R&D for micro-electric vehicle utilization services in the public field, and actively seek to discover new public mobility support services.

• The Korean Journal of Air & Space Law and Policy
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• v.28 no.2
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• pp.295-347
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• 2013

Korea launched the science satellite by the first launch vehicle Naro-ho(KSLV-1) at the Naro Space Center located at Oinarodo, Cohenggun Jellanamdo in August, 2009 and October, 2010. However, the first and second launch failed. At last, on January 30, 2013 the third launch of the launch vehicle Naro-ho has successfully launched and the Naro science satellite penetrated into the space orbit. Owing to the succeed of the launch of Naro-ho, Korea joined the space club by the eleventh turn following the United States, Russia, Japan and China. The United Nations adopted the Outer Space Treaty of 1967, the Rescue Agreement of 1968, the Liability Convention of 1972, the Regislation Convention of 1976, and Moon Agreement of 1979. Korea ratified the above space-related treaties except the Moon Agreement. Such space-related treaties regulate the international liability for the space activity by the launching state of the space object. Especially the Outer Space Treaty regulates the principle concerning the state's liability for the space activity. Each State Party to the Treaty that launches or procures the launching of an object into outer space is internationally liable for damage to another State Party or to its natural or judicial persons by such object or its component parts on the earth, in air space or in outer space. Under the Liability Convention, a launching state shall be absolutely liable to pay compensation for damage caused by its space object on the surface of the earth or to aircraft in flight. The major nations of the world made national legislations to observe the above space-related treaties, and to promote the space development, and to regulate the space activity. In Korea, the United States, Russia and Japan, the national space-related legislation regulates the government's liability of the launching state of the space object. The national space-related legislations of the major nations are as follows : the Outer Space Development Promotion Act and Outer Space Damage Compensation Act of Korea, the National Aeronautic and Space Act and Commercial Space Launch Act of the United States, the Law on Space Activity of Russia, and the Law concerning Japan Aerospace Exploration Agency and Space Basic Act of Japan. In order to implement the government's liability of the launching state of space object under space-related treaties and national legislations, and to establish the standing as a strong space nation, Korea shall improve the space-related policy, laws and system as follows : Firstly, the legal system relating to the space development and the space activity shall be maintained. For this matter, the legal arrangement and maintenance shall be made to implement the government's policy and regulation relating to the space development and space activity. Also the legal system shall be maintained in accordance with the elements for consideration when enacting the national legislation relevant to the peaceful exploration and use of outer space adopted by UN COPUOS. Secondly, the liability system for the space damage shall be improved. For this matter, the articles relating to the liability for the damage and the right of claiming compensation for the expense already paid for the damage in case of the joint launch and consigned launch shall be regulated newly. Thirdly, the preservation policy for the space environment shall be established. For this matter, the consideration and preservation policy of the environment in the space development and use shall be established. Also the rule to mitigate the space debris shall be adopted. Fourthly, the international cooperation relating to the space activity shall be promoted. For this matter, the international cooperation obligation of the nation in the exploration and use of outer space shall be observed. Also through the international space-related cooperation, Korea shall secure the capacity of the space development and enter into the space advanced nation.