• Management & Information Systems Review
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• v.33 no.3
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• pp.167-187
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• 2014

While Korean GAAP had detailed regulations for the measurement and disclosure of operating income in the past, K-IFRS did not provide specific rules for operating income until 2011. Some firms that adopted K-IFRS before 2011 did not disclose or calculated operating income in an inconsistent manner although operating income is usually considered as one of the core information items to assess firm valuation. Inconsistency in firms' treatment of operating income invoked much criticism from diverse users of financial statement. The Korean Accounting Institute (KAI hereafter) revised the K-IFRS rules relevant to operating income in September 2010 in response to the voices raised by the business community, whereby the operating income number is allowed to be calculated in conformity with the previous K-GAAP. This study was motivated by the revision of K-IFRS and aims to provide a clue on the validity of such policy decision. To achieve the research objective, we test the relative value relevance of the alternative operating income numbers under K-IFRS versus K-GAAP. Our main findings are as follows. The value relevance of operating income reported before K-IFRS is proved to be higher than after K-IFRS. K-IFRS operating income adjusted to the previous K-GAAP has greater explanatory power for market values relative to one calculated under the K-IFRS regime. In an additional analysis, the sample was decomposed according to whether the operating income under K-IFRS is greater than under K-GAAP. The difference in the value relevance of K-IFRS versus K-GAAP operating income is significant only in the subsample consisting of firms which reports higher operating income under K-IFRS compared to K-GAAP. Also, the firms which would have reported negative operating income on a consecutive basis are more likely to have chosen K-IFRS, resulting in higher numbers than otherwise. It is likely that firms facing the threat of delisting due to consecutive operating loss reporting are more likely to have adopted K-IFRS disclosure rules by which they could report higher operating income numbers. To sum up, these results corroborate the limitation inherent in the K-IFRS regarding operating income disclosures. This paper suggests that the recent revision of K-IFRS implemented by KAI is likely to mitigate some of afore-mentioned limitations effectively.

• Journal of The Korean Association For Science Education
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• v.39 no.5
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• pp.573-584
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• 2019

It is necessary to look at the essence of STEAM education from the viewpoint of the teacher who is the subject of education execution. We carry out questionnaires and telephone interviews for the purpose, definition, change, etc. of STEAM education from eight elementary, middle, and high teachers who are rich in policy and field application experience. As a result of the analysis, the purpose of the STEAM education that the specialists mentioned includes the active participation of the students. Most experts pointed out that the definition of STEAM education is ambiguous. So, it is necessary to express a clear goal of STEAM education. The category and level meaning "fields" from "a convergence of two or more fields" are not indicative definitions, but can be different depending on the situation, considering the context of activities and the level of students. The perception of the experts on framework may be a guide for STEAM education and stumbling block. It is necessary for "Context" to shift away from the emphasis on the real life connection and to the emphasis on the interest of the student and the guidance of the class. "Creative design" must be based on trial and error in the process of solving problems. "Emotional touch" needs to correct elements that cannot be observed, evaluated, and applied to lessons that are elements of emotional experience. As for the expansion of STEAM education, most expert teachers have recognized that STEAM education is becoming increasingly stable and that policy change has continued to slow the pace of stabilization.

• KDI Journal of Economic Policy
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• v.14 no.2
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• pp.55-75
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• 1992

At the outset of import liberalization, most economists expected a significant drop in the prices of domestic goods that faced foreign competition. However, it is now generally acknowledge that a significant drop in prices of those goods has not occurred. A common claim is that the prices did not drop significantly because the major importers of many imported goods were also the domestic producers of competing goods. The objective of this paper is to analyze the welfare effect of importation by domestic firms that produce competing goods, to identify the factors that facilitate such business practices, and to formulate a policy that could improve the welfare. We proved that importation by competing domestic firms definitely raises the prices of both imported and domestic goods compared to the situation where foreign goods are imported by non-producers, ceteris paribus. The intuition behind this result is that since a producer-importer is essentially a cartel, its overall profit maximization requires reduced competition between the products that it sells. On the other hand, if a producer-importer is more efficient at distrinbution than a simple importer, the comparison between the two cases is a priori indeterminate. We also find that the industries in which domestic producers are actively involved in importing competing goods are the ones in which the distribution channels are tightly controlled by importer-producers. This finding suggests that exclusive dealing contracts, which work as an entry barrier, may be the source of importing by domestic producers. We argue that in a country such as Korea, where financial market is highly incomplete, tight control of the distribution channels by oligopolistic manufacturers is likely to be an effective entry barrier that leads to importing by domestic producers of similar goods. We further argue that seemingly superior distribution costs of importer-producers is likely to be a result of market foreclosure which would disappear once the entry barrier of exclusive dealing contracts is removed. Above findings suggest that market imperfections are the source of importation by domestic competitors, which in turn constitutes a market imperfection in itself and reduces consumer welfare. As potential remedies, we considered three alternatives; direct price control by the government over the imported goods sold by major domestic producers, regulation of trade itself between major producers, and regulation of exclusive dealing contracts. For reasons both theoretical and pratical, we find that the last alternative is the most attrative. Prohibiting exclusive contracts between manufacturers and dealers in industries where exclusive dealing contracts are a significant entry barrier is expected to break up the importer-producer cartel and improve the welfare.

• Management & Information Systems Review
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• v.35 no.1
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• pp.51-68
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• 2016

In this paper, we aim to analyze the effect of accounting policy change subsequent to the adoption of K-IFRS in Korea, whereby the firms are required to recognize impairment losses on goodwill on a periodic basis rather than to amortize over a specific period. As a principle-based accounting standard, the K-IFRS expands the scope of fair value measurement with a view to enhance the relevance and timeliness of accounting information. In the same vein, intangibles with indefinite useful life, of which goodwill is an example, are subject to regulatory impairment tests at least once a year. Related literature on the impact of mandatory change in goodwill policy document that impairment recognition is more likely to be practiced opportunistically, mainly because managers have a greater discretion to conduct the tests under K-IFRS. However, existing literature examined the frequency and/or magnitude of the goodwill impairment before versus after the K-IFRS adoption, failing to notice the impairment symptoms at individual firm level. Borrowing the definition of impairment symptoms suggested by Ramanna and Watts(2012), this study performs a series of tests to determine whether the goodwill impairment recognition achieves the goal of communicating timelier information under the K-IFRS regime. Using 947 firm-year observations from domestic companies listed in KRX and KOSDAQ markets from 2008 to 2011, we document overall delays in recognizing impairment losses on goodwill after the adoption of K-IFRS relative to prior period, based on logistic and OLS regression analyses. The results are qualitatively similar in robustness tests, which use alternative proxy for goodwill impairment symptom. Afore-mentioned results indicate that managers are likely to take advantage of the increased discretion to recognize the impairment losses on goodwill rather than to provide timelier information on impairment, inconsistent with the goal of regulatory authority, which is in line with the improvement of timeliness and relevance of accounting information in conjunction with the full implementation of K-IFRS. This study contributes to the extant literature on goodwill impairment from a methodological viewpoint. We believe that the method employed in this paper potentially diminishes the bias inherent in researches relying on ex post impairment recognition, by conducting tests based on ex ante impairment symptoms, which allows direct examination of the timeliness changes between before and after K-IFRS adoption.

• The Korean Journal of Air & Space Law and Policy
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• v.29 no.1
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• pp.199-236
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• 2014

This paper analyses from the perspective of distributive justice the legal mechanisms for international allocation of orbital slots, which are of co-owned nature and thereby limited natural resources in outer space. The allocative function is delegated to the International Telecommunication Union. The Radio Regulation, amongst such other legal instruments as the Constitution and Convention, by which the ITU and contracting States thereof abides, dictates how the orbital positions are distributed. Thus, the RR is thoroughly reviewed in the essay. The mechanisms are in a broad sense categorized into two systems: 'a posteriori system' where the 'first come, first served' principle prevails; and 'a priori system' designed to foster the utilisation of the slots by those who lack space resources and are, in especial, likely to be marginalised under the former system. The argument proceeds on the premise that a posteriori system places the under-resourced States in unfavourable positions in the securement of the slots. In contrast with this notion, seven factors were instantiated for an assertion that the degradation of the distributive justice derived from the 'first come, first served' rule, which lays the foundation for the system, could be either mitigated or counterbalanced by the alleged exceptions to the rule. However, the author of this essay argues for counterevidences against the factors and thereby demonstrating that the principle still remains as an overwhelming doctrine, posing a threat to the pursuit of fair allocation. The elements he set forth are as in the following: 1) that the 'first come, first served' principle only applies to assignments capable of causing harmful interferences; 2) the interoperability of the principle with the 'rule of conformity' with the all the ITU instruments; 3) the viability of alternative registrations, as an exception of the application of the principle, on the condition of provisional and informational purposes; 4) another reference that matters in deciding the priority: the types of services in the TFA; 5) the Rule of Procedure H40 proclaiming a ban on taking advantage of coming first to the Register; 6) the technical factors and equity-oriented norms under international and municipal laws along with; 7) the changes of 'basic characteristics' of registered assignments. The second half of this essay illustrates by examining the relevant Annexes to the Regulation that the planned allocation, i.e., a priori system, bear the structured flaws that hinder the fulfillment of the original purpose of the system. The Broadcasting and Fixed Satellite Systems are the reviewed Plans in which the 'first come, first served' principle re-emerges in the end as a determining factor to grant the 'right to international recognition' to administrations including those who has not the allotted portions in the Plan.

• The Journal of Natural Sciences
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• v.14 no.1
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• pp.83-121
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• 2004

This study was carried out to examine how solid the production foundation of rice in Chung-Nam Province is, and, if not, to probe alternative measures through the size of farms specializing in rice, of which direction would be a pivot of rice industry-oriented policy. The results obtained can be summarized as follows : 1. The amount of rice production in Chung-Nam Province is highest in Korea and the size of paddy field area is the second largest : This implying that the probability that rice production in Chung-Nam Province would be severely influenced by a global trend of market conditions. The number of farms specializing in rice becoming the core group of rice farming account for 7.7 percent of the total number of farm household in Korea. Average field area financial support which had been input to farm household by Government had a noticeable effect on the improvement of the policy of farm-size program. 2. Farm-size program in Chung-Nam Province established from 1980 to 2002 in creased the cultivation size of paddy field to 19,484 hectares, and this program enhanced the buying and selling of farmland and the number of farmland bargain reached 6,431 household and 16,517 hectares, respectively, in 1995-2002. Meanwhile, long-term letting and hiring of farmland appeared so active that the bargain acreage reached 6,970 hectares, and farm involved was 7,059 households, however, the farm-exchange-and-unity program did not satisfy our expectation, because the retirement farm operators reluctantly participated to sell their farms. Another reason that had delayed the bargain of farms rested on the general category of social complication attendant upon the exchange and unity operation for scattered farm. Such difficulties would work negative effects out to carry on the target of farm-size work in general. 3. The following measures were presented to propel the farm-size promotion program : a. Occupation shift project, followed by the social security program for retirement and elderly farm operators, should be promptly established and also a number of types of incentives for promoting the letting and hiring work and farm-exchange-and-unity program would also be set up. b. To establish the effective key system of rice production, all the farm operators should increase the unit area yield of rice and lower the production cost. To do so, a great deal of production teams of rice equipped with managerial techniques and capabilities need to be organized. And, also, there should be appropriate arrays of facilities including information system. This plan is desirable to be in line with a diversity of the structural implement of regional integration based on farm system building. c. To extend the size of farm and to improve farm management, we have to devise the enlargement of individual size of farm for maximized management and the utilization of farm-size grouping method. In conclusion, it can be said that the farm-size project in Chung-Nam Province which has continued since the 1980s was satisfactorily achieved. However, we still have a lot of problems to be solved to break down the barrier for attainment of the desirable farm-size operation work.. Farm-size project has fairly close relation with farm specialization in rice and, thus, the positive support for farm household including the integrated program for both retirement farmers and off-farm operators should be considered to pursue the progressive development of the farm-size program, which is key means to successful achievement of rice farming enforcement in Chung-Nam Province.

• Journal of Global Scholars of Marketing Science
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• v.20 no.2
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• pp.179-187
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• 2010

Understanding consumers' preferences and use of media types is imperative for marketing and advertising managers, especially in today's fragmented market. A clear understanding assists managers in making more effective selections of appropriate media outlets, yet individuals' choices of type and use of media are based on a variety of characteristics. This paper examines one personality trait, sensation seeking, which has not appeared in the literature examining "new" media preferences and use. Sensation seeking is a personality trait defined as "the need for varied, novel, and complex sensations and experiences and the willingness to take physical and social risks for the sake of such experiences" (Zuckerman 1979). Six hypotheses were developed from a review of the literature. Particular attention was given to the Uses and Gratification theory (Katz 1959), which explains various reasons why people choose media types and their motivations for using the different types of media. Current theory suggests that High Sensation Seekers (HSS), due to their needs for novelty, arousal and unconventional content and imagery, would exhibit higher frequency of use of new media. Specifically, we hypothesize that HSS will use the internet more than broadcast (H1a) or print media (H1b) and more than low (LSS) (H2a) or medium sensation seekers (MSS) (H2b). In addition, HSS have been found to be more social and have higher numbers of friends therefore are expected to use social networking websites such as Facebook/MySpace (H3) and chat rooms (H4) more than LSS (a) and MSS (b). Sensation seekers can manifest into a range of behaviors including disinhibition,. It is expected that alternative social networks such as Facebook/MySpace (H5) and chat rooms (H6) will be used more often for those who have higher levels of disinhibition than low (a) or medium (b) levels. Data were collected using an online survey of participants in extreme sports. In order to reach this group, an improved version of a snowball sampling technique, chain-referral method, was used to select respondents for this study. This method was chosen as it is regarded as being effective to reach otherwise hidden population groups (Heckathorn, 1997). A final usable sample of 1108 respondents, which was mainly young (56.36% under 34), male (86.1%) and middle class (58.7% with household incomes over USD 50,000) was consistent with previous studies on sensation seeking. Sensation seeking was captured using an existing measure, the Brief Sensation Seeking Scale (Hoyle et al., 2002). Media usage was captured by measuring the self reported usage of various media types. Results did not support H1a and b. HSS did not show higher levels of usage of alternative media such as the internet showing in fact lower mean levels of usage than all the other types of media. The highest media type used by HSS was print media, suggesting that there is a revolt against the mainstream. Results support H2a and b that HSS are more frequent users of the internet than LSS or MSS. Further analysis revealed that there are significant differences in the use of print media between HSS and LSS, suggesting that HSS may seek out more specialized print publications in their respective extreme sport activity. Hypothesis 3a and b showed that HSS use Facebook/MySpace more frequently than either LSS or MSS. There were no significant differences in the use of chat rooms between LSS and HSS, so as a consequence no support for H4a, although significant for MSS H4b. Respondents with varying levels of disinhibition were expected to have different levels of use of Facebook/MySpace and chat-rooms. There was support for the higher levels of use of Facebook/MySpace for those with high levels of disinhibition than low or medium levels, supporting H5a and b. Similarly there was support for H6b, Those with high levels of disinhibition use chat-rooms significantly more than those with medium levels but not for low levels (H6a). The findings are counterintuitive and give some interesting insights for managers. First, although HSS use online media more frequently than LSS or MSS, this groups use of online media is less than either print or broadcast media. The advertising executive should not place too much emphasis on online media for this important market segment. Second, social media, such as facebook/Myspace and chatrooms should be examined by managers as potential ways to reach this group. Finally, there is some implication for public policy by the higher levels of use of social media by those who are disinhibited. These individuals are more inclined to engage in more socially risky behavior which may have some dire implications, e.g. by internet predators or future employers. There is a limitation in the study in that only those who engage in extreme sports are included. This is by nature a HSS activity. A broader population is therefore needed to test if these results hold.

• The Korean Journal of Air & Space Law and Policy
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• v.24 no.2
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• pp.139-161
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• 2009

The idea of establishing an International Court of Air and Space Law (hereinafter referred to ICASL) is only my academic and practical opinion as first proposal in the global community. The establishment of the International Court of Air and Space Law can promote the speed and promote fairness of the trial in air and space law cases. The creation of an ICASL would lead to strengthening of the international cooperation deemed essential by the global community towards joint settlement in the transnational air and space cases, claims and would act as a catalyst for the efforts and solution on aircraft, satellite and space shuttle's accidents and cases and all manpower, information, trial and lawsuit to be centrally managed in an independent fashion to the benefit of global community. The aircraft, satellite and spacecraft's accidents attributes to the particular and different features between the road, railway and maritime's accidents. These aircraft, satellite and spacecraft's accidents have incurred many disputes between the victims and the air and space carriers in deciding on the limited or unlimited liability for compensation and the appraisal of damages caused by the aircraft's accidents, terror attack, satellite, space shuttle's accidents and space debris. This International Court of Air and Space Law could hear any claim growing out of both international air and space crash accidents and transnational accidents in which plaintiffs and defendants are from different nations. This alternative would eliminate the lack of uniformity of decisions under the air and space conventions, protocols and agreements. In addition, national courts would no longer have to apply their own choice of law analysis in choosing the applicable liability limits or un-limit for cases that do not fall under the air and space system. Thus, creation of an International Court of Air and Space Law would eliminate any disparity of damage awards among similarly situated passengers and shippers in nonmembers of air and space conventions, protocols, agreements and cases. Furthermore, I would like to explain the main items of the abovementioned Draft for the Convention or Statute of the International Court of Air and Space Law framed in comparison with the Statute of the International Court of Justice, the Statue of the International Tribunal for the Law of the Sea and the Statute of the International Criminal Court. First of all, in order to create the International Court of Air and Space Law, it is necessary for us to legislate a Draft for the Convention on the Establishment of the International Court of Air and Space Law. This Draft for the Convention must include the elected method of judges, term, duty and competence of judge, chambers, jurisdiction, hearing and judgment of the ICASL. The members of the Court shall be elected by the General Assembly and Council of the ICAO and by the General Assembly and Legal Committee of the UNCOPUOS from a list of persons nominated by the national groups in the six continent (the North American, South American, African, Oceania and Asian Continent) and two international organization such as ICAO and UNCOPUOS. The members of the Court shall be elected for nine years and may be re-elected as one time. However, I would like to propose a creation an International Court of Air and Space Law in extending jurisdiction to the International Court of Justice at the Hague to in order to decide the air and space convention‘s cases. My personal opinion is that if an International Court on Air and Space Law will be created in future, it will be settled quickly and reasonably the difficulty and complicated disputes, cases or lawsuit between the wrongdoer and victims and the injured person caused by aircraft, satellite, spacecraft's accidents or hijacker and terrorists etc. on account of deciding the standard of judgment by judges of that’s court. It is indeed a great necessary and desirable for us to make a new Draft for the Convention on a creation of the International Court of Air and Space Law to handle international air and space crash litigation. I shall propose to make a new brief Draft for the Convention on the Creation of an International Court of Air and Space Law in the near future.

• KDI Journal of Economic Policy
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• v.12 no.3
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• pp.27-45
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• 1990

Two opposing views prevail regarding the economic impact of rural out-migration on the rural areas of origin. The optimistic neoclassical view argues that rapid rural out-migration is not detrimental to the income and welfare of the rural areas of origin, whereas Lipton (1980) argues the opposite. We developed our own alternative model for rural to urban migration, appropriate for rapidly developing economies such as Korea's. This model, which adopts international trade theories of nontraded goods and Dutch Disease to rural to urban migration issues, argues that rural to urban migration is caused mainly by two factors: first, the unprofitability of farming, and second, the decrease in demand for rural nontraded goods and the increase in demand for urban nontraded goods. The unprofitability of farming is caused by the increase in rural wages, which is induced by increasing urban wages in booming urban manufacturing sectors, and by the fact that the cost increases in farming cannot be shifted to consumers, because farm prices are fixed worldwide and because the income demand elasticity for farm products is very low. The demand for nontraded goods decreases in rural and increases in urban areas because population density and income in urban areas increase sharply, while those in rural areas decrease sharply, due to rapid rural to urban migration. Given that the market structure for nontraded goods-namely, service sectors including educational and health facilities-is mostly in monopolistically competitive, and that the demand for nontraded goods comes only from local sources, the urban service sector enjoys economies of scale, and can thus offer services at cheaper prices and in greater variety, whereas the rural service sector cannot enjoy the advantages offered by scale economies. Our view concerning the economic impact of rural to urban migration on rural areas of origin agrees with Lipton's pessimistic view that rural out-migration is detrimental to the income and welfare of rural areas. However, our reasons for the reduction of rural income are different from those in Lipton's model. Lipton argued that rural income and welfare deteriorate mainly because of a shortage of human capital, younger workers and talent resulting from selective rural out-migration. Instead, we believe that rural income declines, first, because a rapid rural-urban migration creates a further shortage of farm labor supplies and increases rural wages, and thus reduces further the profitability of farming and, second, because a rapid rural-urban migration causes a further decline of the rural service sectors. Empirical tests of our major hypotheses using Korean census data from 1966, 1970, 1975, 1980 and 1985 support our own model much more than the neoclassical or Lipton's models. A kun (county) with a large out-migration had a smaller proportion of younger working aged people in the population, and a smaller proportion of highly educated workers. But the productivity of farm workers, measured in terms of fall crops (rice) purchased by the government per farmer or per hectare of irrigated land, did not decline despite the loss of these youths and of human capital. The kun having had a large out-migration had a larger proportion of the population in the farm sector and a smaller proportion in the service sector. The kun having had a large out-migration also had a lower income measured in terms of the proportion of households receiving welfare payments or the amount of provincial taxes paid per household. The lower incomes of these kuns might explain why the kuns that experienced a large out-migration had difficulty in mechanizing farming. Our policy suggestions based on the tests of the currently prevailing hypotheses are as follows: 1) The main cause of farming difficulties is not a lack of human capital, but the in­crease in production costs due to rural wage increases combined with depressed farm output prices. Therefore, a more effective way of helping farm economies is by increasing farm output prices. However, we are not sure whether an increase in farm output prices is desirable in terms of efficiency. 2) It might be worthwhile to attempt to increase the size of farmland holdings per farm household so that the mechanization of farming can be achieved more easily. 3) A kun with large out-migration suffers a deterioration in income and welfare. Therefore, the government should provide a form of subsidization similar to the adjustment assistance provided for international trade. This assistance should not be related to the level of farm output. Otherwise, there is a possibility that we might encourage farm production which would not be profitable in the absence of subsidies. 4) Government intervention in agricultural research and its dissemination, and large-scale social overhead projects in rural areas, carried out by the Korean government, might be desirable from both efficiency and equity points of view. Government interventions in research are justified because of the problems associated with the appropriation of knowledge, and government actions on large-scale projects are justified because they required collective action.

• Journal of Popular Narrative
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• v.26 no.3
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• pp.45-86
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• 2020

In this article, the "modernization of the tradition" constructed on the cultural politics and the way in which it appropriated in the korean theatre in the 1970s were analyzed. It is trying to reveal its implications. It is also a work to critically review the aspects of self-censorship in the korean theatre in the 70s. To that end, we looked at the theatre company Minye Theatre, which preoccupied the traditional discussions in the 1970s by creating national dramas. Until now, the evaluation of the theatre company Minye Theatre in the 1970s has focused on the achievement on the directing of Heo Gyu, who promoted the succession and transformation of tradition. However, the traditional ideology constructed in the state-led cultural politics in the 70s and the way in which it was operated cannot be evaluated only in terms of artistic achievement. The ideology of tradition is selected according to the selective criteria of the subject to appropriate tradition. What's important is that certain objects are excluded, discarded, re-elected, re-interpreted and re-recognized in the selection process of selected traditional ideology. This is the situation in the '70s, when tradition was constantly re-recognized amid differences between the decadent and the disorder that were then designated as non-cultural, and led to a new way of appropriate. The nation-led traditional discussion of the '70s legalized the tradition with stable values, one of the its way was the national literary and artistic support. Under the banner of modernization of tradition, theatre company Minye preoccupied the discussions on the tradition and presented folk drama as a new theatre. As an alternative to the crisis of korean theatre at the time, the Minye chose the method of inheriting and transforming tradition. It is noteworthy that Heo Gyu, the representative director of the theatre company Minye, recognized the succession and transformation of traditional performance as both a calling and an experiment. For Heo Gyu, tradition was accepted as an irresistible stable value and an unquestionable calling, and as a result, his performance, filled with excessive traditional practices, became overambitious, especially when it failed to reflect the present-here reality, the repeated use of traditional expression tools resulted in skilled craftsmanship, not artistic creation. The traditional ideology of the 70s unfolds in a new aspect of appropriation in the 80s. In 1986, Son Jin-Cheok, Kim Seong-nyeo, and Yoon Mun-sik, who were key members of the theatre company Minye Theatre, left the theatre to create the theatre company Michu, and secured popularity through Madangnori(popular folk yard theatre). Son Jin-Cheok's Madangnori is overbearing through satire and humor. It gained popularity by criticizing and mocking state power. On the other hand, not only the form of traditional performance, but also the university-centered Madanggeuk movement, which appropriated on the spirit of resistance from the people to its traditional values, has rapidly grown. In the field of traditional discussions of the 70s, Madanggeuk was self-born through appropriation in which the spirit of resistance of the people is used as a traditional value. Madanggeuk as well as Michu that achieved the popularization of Madangnori cannot be discussed solely by the artistic achievement of the modernization of tradition. Critics of korean theatre in response to state-led traditional discussions in the 70s was focused only on the qualitative achievement of performing arts based on artistry. I am very sorry for that. As a result, the popular resistance of the Madanggeuk and the Madangnori were established in the 'difference' with the traditions of the theatre company Minye Theatre. Theatre company Minye Theatre was an opportunity for the modernization of tradition, but the fact that it did not continuously produce significant differences. This is the meaning and limitation of the "tradition" of the theatre company Minye Theatre in the history of korean theatre in the 1970s.