• Knowledge Management Research
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• v.22 no.3
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• pp.17-29
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• 2021

The purpose of this study is to analyze investment performance by applying dynamic methodologies that reflect market expectations rather than traditional static methodologies in applying the glide path of target date fund. In calculating market expectations, the number of distributed shares in the ETF market was used, and the dynamic glide path model portfolio considering market expectations in the analysis period from late 2011 to October 2020 could show better results than the existing static glide path. According to the analysis, increasing the portion of risky assets at a time when the number of shares in the ETF's distribution increases, and in the opposite case, reducing the portion of risky assets is advantageous for profit. The results of this study are expected to provide useful theoretical and practical implications for researchers and asset management workers who are interested in knowledge management from a broad perspective beyond the boundary of pension asset management to the public fund market and ETF market.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.46
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• pp.265-313
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• 2010

Kyoto Protocol is an international convention on concrete performance program for UNFCCC(United Nations Framework Convention on Climate Change), which regulate and prevent to global warming and officially came into effect on February 16, 2005. Kyoto flexible mechanisms, the agreed environmental system in March 1997 in the Third Conference of Parties in UNFCCC General Assembly, Emission Trading System(ETS), Clean Development Mechanism(CDM) and Joint Implementation(JI), are key policies related to environment. In advanced countries, greenhouse gas emissions should be reduced average 5.2% level compared to 1990 in total emissions during 2008-2012. World leading carbon market finished the trial on the EU ETS I greenhouse gas emissions trading system, EU ETS II is operated regularly after 2008. World Bank leads to make 'Prototype Carbon Fund(PCF)' in April 2004, which is the world first carbon fund and a representative public carbon fund type, World Bank operate various funds including present PCF. Thus, I would like to propose as follows in relation to this study: First, in the validity analysis of carbon funds, it would be needed to analyze the Emission Reduction Cost Efficiency(ERCE) of carbon. The ERCE is a break-even value which brings the Net Present Value(NPV) to zero. NPV approach is used among projects and it enables potential projects to be compared and evaluated the ERCE on the basis of the net present value of net future cash flows. Therefore, according to results of analysis, carbon funds should be developed and invested. Second, it would be necessary to allow of issuing bonds together with carbon funds, carbon finance etc. Third, carbon funds, it would be reasonable to have a relatively enough maturity in project and as a financial derivatives in the international financial markets, it is needed various types of transactions. Fourth, it would be needed to standardize the carbon emissions trading for more efficiently. Fifth, it would be necessary to establish and invest in various kinds of domestic and overseas global carbon funds, including governments, privates, governments and privates sectors. And it is also needed to establish the medium and long term plans for carbon funds. Sixth, it would be needed to foster the advanced trade mechanisms for carbon funds in the most effective ways. Finally, carbon funds should be used in harmony with international societies to reduce global warming as the social responsible investing funds and it should be contribute to sustainable development. In addition, it would seem that carbon funds should be studied on establishing the contributable standard of sustainable development in the future assignment.

• The Journal of the Korea Contents Association
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• v.13 no.12
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• pp.81-91
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• 2013

Social Media has been vitalized according to development of technology, it make the crowd-funding which have a form of new donation culture. The crowd-funding has been known as form that is supported for getting investments of ongoing or new project by much public in area of cultural art. Nowadays it receive attention from the movie content production. There are so many successful case such as , in abroad while it is hard to find distinct case in Korea' the movie content production market. Since the movie <26 years> informed public of 'the crowd-funding', recently was successfully complete first and second fund-raising and third fund-raising is in progress. It is upraised as a representative successful case.

• Journal of Preventive Medicine and Public Health
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• v.53 no.5
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• pp.307-310
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• 2020

Severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) has placed unprecedented pressure on healthcare systems, even in advanced economies. While the number of cases of SARS-CoV-2 in Africa compared to other continents has so far been low, there are concerns about under-reporting, inadequate diagnostic tools, and insufficient treatment facilities. Moreover, proactiveness on the part of African governments has been under scrutiny. For instance, issues have emerged regarding the responsiveness of African countries in closing international borders to limit trans-continental transmission of the virus. Overdependence on imported products and outsourced services could have contributed to African governments' hesitation to shut down international air and seaports. In this era of emerging and re-emerging pathogens, we recommend that African nations should consider self-sufficiency in the health sector as an urgent priority, as this will not be the last outbreak to occur. In addition to the Regional Disease Surveillance Systems Enhancement fund (US$600 million) provided by the World Bank for strengthening health systems and disease surveillance, each country should further establish an epidemic emergency fund for epidemic preparedness and response. We also recommend that epidemic surveillance units should create a secure database of previous and ongoing pandemics in terms of aetiology, spread, and treatment, as well as financial management records. Strategic collection and analysis of data should also be a central focus of these units to facilitate studies of disease trends and to estimate the scale of requirements in preparation and response to any future pandemic or epidemic.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.1
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• pp.91-105
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• 2019

The paper aims to combine balance sheet analysis at the firm level with the International Monetary Fund's public debt sustainability assessment framework to assess state-owned enterprises' (SOE) leverage as a contingent liability to the public sector. Based on company data and the interest coverage ratio as a measure of debt at risk, aggregate baseline scenarios are projected to gauge the magnitude of SOE debt as a contingency. SOE's financial and debt ratios are first bootstrapped to generate firm-level distributions and then averaged into a fan chart of the economy-wide SOE contingent liability. Applied to the People's Republic of China as an example, the study finds that by the end of 2015 SOE leverage had grown to a substantial liability. However arbitrary the assumptions underlying these projections, it would appear that even if authorities had to mop up as much as 20% of SOE debt at risk gone bad, this would have been manageable at roughly 2.7% of the gross domestic product in 2016 or 5.5% by 2021. This projection framework is fully amenable to alternative assumptions and settings, which makes it a useful analytical tool to monitor contingent liabilities from non-financial corporate debt that have been building in emerging and advanced economies alike.

• Safety and Health at Work
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• v.5 no.2
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• pp.66-72
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• 2014

Background: The purpose of this study was to enumerate the annual morbidity and mortality incidence and estimate the direct and indirect costs associated with occupational injuries and illnesses in Bangkok in 2008. In this study, data on workmen compensation claims and costs from the Thai Workmen Compensation Fund, Social Security Office of Ministry of Labor, were aggregated and analyzed. Methods: To assess costs, this study focuses on direct costs associated with the payment of workmen compensation claims for medical care and health services. Results: A total of 52,074 nonfatal cases of occupational injury were reported, with an overall incidence rate of 16.9 per 1,000. The incidence rate for male workers was four times higher than that for female workers. Out of a total direct cost of $13.87 million, $9.88 million were for medical services and related expenses and $3.98 million for compensable reimbursement. The estimated amount of noncompensated lost earnings was an additional $2.66 million. Conclusion: Occupational injuries and illnesses contributed to the total cost; it has been estimated that workers' compensation covers less than one-half to one-tenth of this cost.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.32-36
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• 2015

This study explores the issue of program management consortia involving multinational participants. The aim of this research was to leverage advantages in program management (PM) skills and PM model improvement in product line construction in mega scale construction programs, typically funded by public funds. Such ventures involve multinational parties using dedicated partnering based on a program management consortium (PMC) to reduce confrontation between parties in complex circumstances, allowing an open and non-adversarial approach to project management. This research also seeks to implement an ongoing feedback program of best practices and lessons learned to minimize the repetition of mistakes and to reduce costs in sequenced construction. Recently, the Korean government has planned to undertake three large new projects: the Korean Peninsula major river maintenance, the reclamation of Se-Mangum, and the Science/Business City. This paper starts by providing a framework for the cost-reduction strategy for the United States Forces Korea (USFK) Relocation Program, which will be funded with public funds and a private fund investment (PFI) that combines programs executed by two governments as owners and multinational stakeholders, joined in the PMC. The establishment of project-oriented consortia is an innovative and non-adversarial approach to massive international construction projects. Such projects have used various tools effectively and skillfully. This experience may offer an opportunity to practice new and advanced program management delivery methods, and it is expected that Korea will gain a competitive advantage in the international construction market.

• Journal of the Korean Institute of Educational Facilities
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• v.24 no.6
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• pp.19-26
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• 2017

The aim of this study is to suggest an improvement of BTL in Educational Facilities applying the concept of n-BPPP(non-Benefits Public-Private Partnerships). The research is based on four of ninety-nine completed projects of Mixed-use Educational Facilities since 2001. Ninety-nine projects are analyzed and categorized to the typology of architectural program. The architectural programs planned are uniform in function, such as gym, swimming pool, library, info-center, parking etc. The public parking is a main program in the BTL projects, where district offices are involved as partner. The difference between BTL and n-BPPP for educational facilities is the business units. The n-BPPP concerns in regional or district units in order to expand public infrastructure facilities based on the network of schools and local community. And the fund for n-BPPP does not come from the government but from the investors. The economic interest is to reinvest on the maintenance of the facilities. The benefits of n-BPPP will be not only for the Governments in terms of social welfare budgets but also for local residents and students in terms of a variety of high-quality public services. The concept of n-BPPP can be an alternative way for the Mixed-use Educational Facilities.

• Journal of Climate Change Research
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• v.9 no.2
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• pp.181-195
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• 2018

On December 12, 2015, the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) adopted the Paris Agreement, in which several developed and developing countries all committed to participating in the reduction of greenhouse-gas (GHG) emissions. South Korea has submitted an intended nationally determined contribution (INDC) proposal with a target to cut down 37% greenhouse gas business as usual (BAU) until 2030 in preparation for the 2030 GHG BAU. Under the post-2020 regime, which will be launched from 2021 as the agreement entered into force early, it is expected that efforts to support GHG reduction and adaptation to climate change in developing countries will be accelerated with the utilization of technologies and financial resources of developed countries. South Korea has established the Basic Plan for Climate Change Response and the Basic National Roadmap for Greenhouse Gas Reductions by 2030 to promote the response to climate change at the government level. The Ministry of Science and ICT, as the National Designated Entity designated by the UNFCCC, has come up with middle and long-term strategies for climate technology cooperation. South-Korea has an abundance of energy-consuming industries to support its export-oriented industrial structure; it is thus expected that achieving the GHG reduction target will incur a considerable cost. Moreover, in order to meet the reduction target (11.3%) of the intended nationally determined contribution proposed by South Korea, it is necessary for South Korea to actively promote projects that can achieve GHG reduction achievements, and financial resources are needed as leverage to reduce risks that can occur in the early stages of projects and attract private sector investment. This paper summarizes the theoretical discussions on climate finance and conducted a comparative analysis on the status of the funds related to climate change response in the UK, Germany, Japan and Denmark. Through this, we proposed the legal and policy tasks that should be carried forward to raise public funds that can be used for creation of new industries related to climate change as well as to reduce GHG emissions in South Korea. The Climate Change Countermeasures Act, which has been proposed by the National Assembly of South-Korea, stipulates the establishment of funds but there is no additional funding except for general account. In this regard, it is also possible to take measures such as the introduction of carbon tax or the collection and use of royalties through technology research and development projects for climate change, such as Industrial Technology Innovation Promotion Act. In addition, since funds are used in various fields such as domestic greenhouse gas reduction, technology development, and overseas projects, it is necessary to establish a system in which various ministries cooperate with the operation of the fund.

• Journal of Digital Convergence
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• v.19 no.12
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• pp.21-28
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• 2021

The purpose of this study is to analyze the efficiency of the policy direction to see if the government's purpose of relocating public institutions was achieved by analyzing the case of the Korea Housing Finance Corporation, which moved to Busan Metropolitan City in 2014. Based on the Korea Housing Finance Corporation's settlement management disclosure and public institution performance evaluation report from 2009 to 2019, efficiency was compared and analyzed using DEA analysis, work efficiency in management performance evaluation report, and financial ratio. The analysis results are as follows. First, in the case of DEA analysis, the difference in efficiency before and after fat transfer was not noticeable. Second, the efficiency analysis using the performance evaluation report and the financial ratio showed that the efficiency decreased after local relocation. Taken together, in the case of the Korea Housing Finance Corporation, efficiency decreased after local relocation, which can be attributed to sluggish business performance and inefficiency related to financial ratios. However, this study has limitations because it conducted an analysis on the Korea Housing Finance Corporation. To compensate for this, it is necessary to diversify the scope of research targeting all fund-managed quasi-governmental institutions in Korea. Nevertheless, this study is the first study to analyze before and after the relocation of fund-managed quasi-governmental institutions, and is expected to provide significant implications for future policies to be discussed.