• Journal of Family Resource Management and Policy Review
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• v.17 no.1
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• pp.159-178
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• 2013

This study aims to evaluate the retirement income readiness of Korea, a country that-considering its high property asset ratio-is seeing an unprecedented rapid progression of graying. The result of analyzing 6,589 non-retired households in Statistics Korea's Survey of Household Finances (2011) is as follows. First, the Retirement Readiness Index, considering annual income and asset utilization income before including longevity risk, was 70.6. The index increased to 89.5 when utilizing real assets excluding houses and exceeded 100 when utilizing houses. Second, when designating 100 to be the life expectancy and taking into consideration longevity risk, there results were 52.5, 63.7, and 81.1, respectively. Third, since it is less likely for one to use all current financial assets as post-retirement income, the study reviewed the changes in the Retirement Readiness Index by applying three different levels of asset utilization ratios (50%, 75%, and 100%), which refer to the conversion ratios of current assets to retirement assets. This study is significant in that it considers longevity risk and applies asset utilization ratios in various ways, outside of the assumption that all current financial assets will be used as post-retirement income, to take a more realistic approach to retirement readiness.

• Journal of Korea Technology Innovation Society
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• v.7 no.3
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• pp.533-554
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• 2004

Real option valuation considers the managerial flexibility to make ongoing decisions regarding implementation of investment projects and deployment of real assets. The appeal of the framework is natural given the high degree of uncertainty that firms face in their technology investment decisions. This paper suggests an algorithm for estimating volatility of logarithmic cash flow returns of real asset based on Monte Carlo simulation. This research uses a binomial model to obtain point estimate of real option value with embedded expansion option case and provides also an array of numerical results to show the interval estimation of option value using Monte Carlo simulation.

• The Journal of Economics, Marketing and Management
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• v.11 no.6
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• pp.23-34
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• 2023

Purpose: This study conducted an empirical study to identify the current status of real estate managers' ESG awareness and to derive recommendations for improvement. Research design, data and methodology: A survey was conducted among those who actually manage real estate assets regardless of region. Descriptive statistical analysis, paired sample t-test, and IPA analysis were conducted using SPSS 27.0 statistical package. Results: The results of the t-test showed that respondents perceived their on-site management achievements to be lower than their perceived importance in all areas of ESG. In the IPA matrix, the mean of achievement is higher than 3, which is moderate. Environment (E) was found to be relatively low in importance. In the Social (S) aspect, the achievement level was low compared to its importance, and Governance (G) was found to be low in importance. Conclusions: Based on the analysis, it seems that policies are needed to emphasize the importance of environmental issues such as greenhouse gas reduction in the environment (E) sector and to strengthen realistic achievement in the social (S) and governance (G) sectors.

• KDI Journal of Economic Policy
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• v.14 no.2
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• pp.189-203
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• 1992

Any money model should address the most important phenomenon of a monetary economy, which is the phenomenon of the rate of return dominance. Even if the holding returns on financial or nonfinancial assets are higher than the rate of return on fiat money holding, which is typically zero, people still hold and use money. In a period of accelerating inflation, number of dominating assets increases continuously, yet people continue to hold and use money. Wallace's (1980) overlapping generations model cannot address the rate of return dominance phenomenon. His model does not capture the mediun of exchange role of fiat money. In this paper, an overlapping types model of fiat money is constructed, in which different types of consumers have different preferences on different types of goods, are endowed with different types of goods, are located at seperated regions, and live for only two periods. In this model, people hold and use money despite the dominating assets, even if inflation accelates. Money in this case serves as a pure medium of exchange, whereas in Wallace's model, money serves as a pure store of value, and money disappears if a dominating asset exists. An interesting feature of the overlapping types model presented in this paper is that money does not provide a cheap approximation to an idealized and efficient real allocation. A monetary economy is always superior to a nonmonetary economy, because money helps overcome the incompleteness of the overlapping types friction. In a monetary economy, however, a pareto optimal allocation cannot always be achieved, because money cannot always overcome the overlapping types friction itself. Therefore, with the criterion of optimality of real allocations, the monetary economy is more optimal than a nonmonetary economy but less optimal than a complete Arrow-Debreu economy. This feature has important implications on macro modelling. Because of the difficulty in introducing money into a macro model in an essential and endogenous manner as in the overlapping types model of this paper, a macro model typically ignores money and studies real allocations without the money factor. The possible inefficiencies of a monetary economy, relative to a complete real Arrow-Debreu economy, may indicate differences in real allocations between the two models.

• Journal of Families and Better Life
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• v.20 no.6
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• pp.81-93
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• 2002

The purpose of this study is to analyze the effects of household income drops on household economic status during economic crisis periods. Using the data taken from Korean Household Panel Study for 1996 and 1998, it was investigated how household income change affected household income, expenditure, and assets/debt. The economic status change of the income-decreased group was compared with that of the income-increased group. The major findings were as follows: Average income of the total sample was 1,905 thousand won in 1996, while 1,419 thousand won in 1998. The household of which income was decreased during the period was 65.1% of total sample. Average income of the group was reduced from 2,263 thousand won to 1,239 thousand won. Among income sources, the amount of income from real asset was found to be the highest decreasing rate, and the amounts of both business and employed-work income were reduced almost up to an half of those in two years ago. The amounts for all expenditure categories were also decreased with decreasing household income. Especially the expenditures for food away from home, leisure, durable, recreation, and vehicle-related expense were found to have the highest income elasticity. The households with decreased income were found to reduce household expenditures by 377 thousand won per month, which was 70.9% of that in 1996. Decreases in household income resulted in decreases in net wealth by 10,170 thousand won. With decreases in household income, the amounts of total insurance and private savings such as gye were decreased, and so were the amounts of real assets and monetary assets.

• Journal of Families and Better Life
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• v.19 no.4
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• pp.211-223
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• 2001

This study analyzed the financial ratio change of self-employed households between 1997 and 1998. The data were drawn from Korean Households Panel Study and utilitze7 descriptive statistics such as frequency, percentile to investigate the differences between two period of time, 1997 and 1998. The sampe size in 1997 was 692 householdsand and 600 households in 1998. The mean of financial asset showed that in 1997, self-employed households had much less in liquidity assets, especially in bank-related income, stock, but had more in real-estate, Gye, and private loan than those in 1998. In cases of debt-owned, the self-employed tended to have more debt in non-bank related and it illustrates that the self-employed may experience the difficulties to access the financial assistance in economic depression. Using guideline of each ratios, for six financial ratios, self-employed could meet less proper level$ in 1998 compared to those in 1997. It proves that the economic crisis affect the stability of income and financial assets of self-employed households and types of financial assets changes because of the stability.

• Journal of Korea Multimedia Society
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• v.1 no.2
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• pp.154-161
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• 1998

This paper proposes a parallel processor system which processes cultural assets image recognition and retrieval algorithm in real time. A serial algorithm which is developed for the parallel processor system is parallellized. The parallel processor system consists of a control unit, 100 PE(Processing Elements), and 10 Park's multi-access memory systems which has 11 memory modules per each one. The parallel processor system is simulated by CADENCE Verilog-XL which is a package for the hardware simulation. With the same simulated results as that of the serial algorithm, the speed ratio of the parallel algorithm to the serial one is 81. The parallel processor system we proposed is quite effective for cultural assets image processing.

• Convergence Security Journal
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• v.20 no.2
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• pp.53-58
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• 2020

In this study, it suggests the High Availability (HA) implementation plan of building a continuous service infrastructure as a strategy ensuring availability, as the importance of availability securing corporate business continuity emerges in the knowledge and information society. However, if the reliability of the criticality assessment of information asset is not ensured, it requires assessment measures for availability that can be managed by mapping with service maintenance assessment items, which are availability criteria based on the asset criticality evaluated through the asset value matrix because it is difficult to maintain security in conjunction with the value of real assets. Therefore, this study suggests the assessment measures for availability of information assets.

• Journal of Korean Society of Rural Planning
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• v.19 no.3
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• pp.117-129
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• 2013

The Historic Cultural Environment Conservation Areas around Chosun Royal Tombs in Gyeonggi Province are larger than those around other Cultural Assets, so more efficient management tools on the Areas should be needed. This study aims to suggest the directions of policy to modify the existing management tools by analyzing the spatial extent and alteration standards of the 12 Historic Cultural Environment Conservation Areas around Chosun Royal Tombs in Gyeonggi Province. The results of this study are as follows: First, in most cases, the spatial extents of the Areas are 500m, but the spatial extents should be precisely classified in Gyeonggi Ordinance of Cultural Assets Protection, and be excluded according to the layout of Protection Areas and roads. And the outside view from the inside is more important in Chosun Royal Tombs, so the areas on the axis of the view must be controled by considering the development density(bulk or height of buildings). Second, the same zoning areas must be classified as the same section of the Area allowing for equity, and Finally, the Current Conditions Permission Criteria should be actualized to take into account the difference between the development densities of zoning araes and the Criteria.

• Journal of the Korean Operations Research and Management Science Society
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• v.37 no.4
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• pp.95-109
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• 2012

Being able to quickly locate valuable medical equipment is critical inside hospitals. In order to utilize limited budget and resources efficiently, accurate locating or tracking is required in many fields. In this research, we focus on how to find the location of missing assets by using RFID in real time indoors to track equipment. When equipment needs to be searched, the purpose of a RFID device is to minimize the time, investment cost and effort spent searching for the equipment. Thus, this research presents a mathematical model of using RFID (both handheld reader and stationary reader) for efficient asset location. We derive the expected time of locating RFID-tagged objects in a multi-area environment where hand-held RF readers are used. We then discuss where to deploy stationary RF readers in order to maximize the efficiency of the search process.