• KDI Journal of Economic Policy
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• v.14 no.2
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• pp.109-153
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• 1992

This paper estimates a translog cost function for the Korea's banking industry and derives various implications on the prospect for the Korean banking structure in the future based on the estimated efficiency indicators for the banking sector. The Korean banking industry is permitted to operate trust business to the full extent and the security business to a limited extent, while it is formally subjected to the strict, specialized banking system. Security underwriting and investment businesses are allowed in a very limited extent only for stocks and bonds of maturity longer than three year and only up to 100 percent of the bank paid-in capital. Until the end of 1991, the ceiling was only up to 25 percent of the total balance of the demand deposits. However, they are prohibited from the security brokerage business. While the in-house integration of security businesses with the traditional business of deposit and commercial lending is restrictively regulated as such, Korean banks can enter the security business by establishing subsidiaries in the industry. This paper, therefore, estimates the efficiency indicators as well as the cost functions, identifying the in-house integrated trust business and security investment business as important banking activities, for various cases where both the production and the intermediation function approaches in modelling the financial intermediaries are separately applied, and the banking businesses of deposit, lending and security investment as one group and the trust businesses as another group are separately and integrally analyzed. The estimation results of the efficiency indicators for various cases are summarized in Table 1 and Table 2. First, security businesses exhibit economies of scale but also economies of scope with traditional banking activities, which implies that in-house integration of the banking and security businesses may not be a nonoptimal banking structure. Therefore, this result further implies that the transformation of Korea's banking system from the current, specialized system to the universal banking system will not impede the improvement of the banking industry's efficiency. Second, the lending businesses turn out to be subjected to diseconomies of scale, while exhibiting unclear evidence for economies of scope. In sum, it implies potential efficiency gain of the continued in-house integration of the lending activity. Third, the continued integration of the trust businesses seems to contribute to improving the efficiency of the banking businesses, since the trust businesses exhibit economies of scope. Fourth, deposit services and fee-based activities, such as foreign exchange and credit card businesses, exhibit economies of scale but constant returns to scope, which implies, the possibility of separating those businesses from other banking and trust activities. The recent trend of the credit card business being operated separately from other banking activities by an independent identity in Korea as well as in the global banking market seems to be consistent with this finding. Then, how can the possibility of separating deposit services from the remaining activities be interpreted? If one insists a strict definition of commercial banking that is confined to deposit and commercial lending activities, separating the deposit service will suggest a resolution or a disappearance of banking, itself. Recently, however, there has been a suggestion that separating banks' deposit and lending activities by allowing a depository institution which specialize in deposit taking and investing deposit fund only in the safest securities such as government securities to administer the deposit activity will alleviate the risk of a bank run. This method, in turn, will help improve the safety of the payment system (Robert E. Litan, What should Banks Do? Washington, D.C., The Brookings Institution, 1987). In this context, the possibility of separating the deposit activity will imply that a new type of depository institution will arise naturally without contradicting the efficiency of the banking businesses, as the size of the banking market grows in the future. Moreover, it is also interesting to see additional evidences confirming this statement that deposit taking and security business are cost complementarity but deposit taking and lending businesses are cost substitute (see Table 2 for cost complementarity relationship in Korea's banking industry). Finally, it has been observed that the Korea's banking industry is lacking in the characteristics of natural monopoly. Therefore, it may not be optimal to encourage the merger and acquisition in the banking industry only for the purpose of improving the efficiency.

• Journal of The Korean Association For Science Education
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• v.37 no.6
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• pp.1051-1061
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• 2017

An image is a comprehensive result that you have experienced about an object and means the image that you have on the surface of your consciousness. The image of the subject has an important influence on learning the subject. The image analysis of the subjects that the learners have will be good data to decide the direction of teaching and learning. The purpose of this study is to develop and apply measurement tools for physics image and discuss its educational implications. The research method is to develop the measurement tools for the physics image by semantic analysis method and apply it to the secondary pre-service physics teacher. The subjects of the study were 39 first graders, 31 second graders, 37 third graders, and 38 fourth graders at the University of Education, a total of 145 students, 82 of whom were male and 63 were female. The study results show that the image measurement tools for physics consisted of 25 items from five elements: 'interest,' 'feeling,' 'scope,' 'evaluation,' and 'viewpoint.' There were statistically significant differences between the male and female students in applying the measurement tools developed for the physics image of secondary pre-service physics teachers. Male students showed significantly higher statistical significance than female students in the 'interest' and 'feeling' elements of measurement tools for the physics image. In the 'scope' element of measurement tools for the physics image the second grade was statistically higher than the fourth grade. Finally, we discussed educational implications for image analysis of physics and the usefulness of using measurement tools in physics image.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.24 no.8B
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• pp.1444-1455
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• 1999

In the standard location strategy such as IS-41 and GSM, Home Location Register(HLR) and Visitor Location Register(VLR) databases are used to manage the location of mobile terminals. The primary goal that location management schemes investigate is to reduce the cost of database access and the traffic for signaling network. When mobile terminals move frequently, one of problems in the standard location management scheme is that HLR database is highly updated and the traffic in signaling network can be occurred significantly due to high message transfer rate between HRL and VLR. As a solution to these problems, this paper proposes the location management scheme using VLR Gateway(VG) to reduce the both traffics of HLR update and signaling network which are resulted from location registration requirements of mobile terminals whenever they cross their registration area boundary. VG is a kind of database that is placed between HLR and VLR. It integrates one or more registration area defined in a system into one group and plays a role on behalf of HLR in a integrated registration scope so that the call delivery and the movement of mobile terminals are possible without HLR access in the scope. In order to evaluate performance of IS-41 and proposed scheme, we simulate two schemes based on wide range of call to mobility ratio. Its experiment result shows that in the proposed scheme total database cost increased slightly whereas HLR and signaling traffic decreased remarkably.

• Journal of Korea Port Economic Association
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• v.27 no.4
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• pp.37-49
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• 2011

By strengthening the market control and expanding the networks, providers of global logistics are expanding their service scope. E-logistics connects e-business to internal and external information system by using WMS, TMS, and OMS. The paper focuses on analyzing the efficiency of the tope fifty Global Logistics Providers. Therefore, the study classifies the factors which specify the efficiency of a total logistics industry and verified its firmness. Furthermore, the most recently published reports by Logistics Quarterly and Armstrong Association in 2011 was used in order to guarantee credibility of the study. This study utilizes three years of materials, from 2007, 2008, 2009 on publish 2010, for scope period for analysis. By applying SBM (Slack Based Measure) & the DEA Window model, the trend in efficiency and stableness was analyzed. Consequently, the main purpose of the paper is evaluating the efficiency. Also, analyzing its determinants and illustrating a long-term relationship between the annual turnover and major shippers was used as output measures. In addition, the number of information system operations, the grade of information systems, and employee of Logistics Providers was used as input measures.

• Korean Journal of Construction Engineering and Management
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• v.20 no.1
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• pp.32-40
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• 2019

This study analyzed operating condition and the problems of damage compensation insunace (property insurance) for qualified architect and derived some suggsetions for improvement. The Certified Architects Act requires all building design and construction supervision to buy property insurance. This study proposes following suggestions to solve problems of current architect property insurance. Firstly, we need to increase the insurance purchasing rate of damage compensation insurance for qualified architect. It is necessary to clearly specify the matters concerning the submission of insurance policies by the architects, which is currently carried out by the Minister's official letter, in the form of official announcement. Secondly, proper insured amount should be adjusted. In order to insured substantial compensation capacity, total amount of insurance should be enlarged. Thirdly, the insurance period should be extended to one year after completion of building to allow compensation for accidents due to design negligence. Generally, the design defect can mostly be identified within one year after completion. Fourthly, insurance coverage should be extended. In the long run, it is essential to enlarge the scope of the security not only to property damage but also to human losses. Finally, an accident record sharing system should be established among insurance companies, so that proper insurance premiums or discounts can be made based on the system.

• Quality Improvement in Health Care
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• v.26 no.2
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• pp.86-94
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• 2020

Purpose: This study aimed to identify current quality control (QC) practices of primary care clinics participating in the National Cancer Screening Program (NCSP) in Korea. Methods: A nationwide survey using a structured questionnaire was conducted among the primary care clinics participating in the NCSP, which were selected by a proportionate stratified sampling. The questionnaire consisted of general information about the responding clinics and the scope of QC activities undertaken. A total of 360 clinics responded and the set of data was then analyzed with Chi-square test and multivariable logistic regression analysis. Results: Among 360 respondents, 332 (92%) reported that they were involved in the QC activities. Most frequently performed QC activities were 'maintenance of facility and instruments' (89%) and 'staff training' (85%). The analysis revealed, with statistical significance (p<.05), that there was an association between certain characteristics of the clinics and the scope of QC activities. These findings also indicated that the diversity of QC practices varies according to the size of the clinics. The clinics screening more types of cancer, those with more screenees, and those with more employees were more likely to implement various QC activities including 'maintenance of facility and instruments', 'external quality control', and 'management of screening data'. Conclusion: To our knowledge, this is the first study to investigate the current status of QC activities conducted among primary care clinics participating in the NCSP. The results of this survey can be used as a basis for further development of policies on quality management of small- and medium-sized primary care clinics in Korea. However, further studies encompassing various aspects of QC activities and management of primary care clinics are needed to assess the current situation in a concise manner.

• Journal of Service Research and Studies
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• v.10 no.4
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• pp.89-100
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• 2020

The smart factory is an important axis of the 4th industrial revolution. Smart factory is a system that induces the maximum efficiency and effectiveness of production using the IoT and intelligent sensing systems. The product lifecycle management technique is a method that can actively reflect the consumer's requirements in the smart factory and manage the entire process from the consumer to the post management. There have been many studies on product lifecycle management, but studies on how to organize product lifecycle management knowledge domains in preparation for the era of the 4th industrial revolution were insufficient. This study analyzed the opinions of a group of experts preparing for the 4th industrial revolution in terms of product lifecycle management. The impact of the 4th industrial revolution on the detailed knowledge areas of product lifecycle management was investigated. The changes in product lifecycle management were summarized using a qualitative data analysis technique for a group of experts. Based on the opinions of experts, the product lifecycle management, which consists of a total of 30 detailed knowledge areas, was prepared to supplement or prepare for the 4th industrial revolution. This study investigates changes in product lifecycle management in preparation for the 4th industrial revolution in the knowledge domain of the existing defined product life cycle management. In future research, it is necessary to redefine the knowledge domain of product life cycle management suitable for the era of the 4th industrial revolution and investigate the perception of experts. Considering the social culture and technological change factors of the 4th industrial revolution, the scope and scope of product life cycle management can be newly defined.

• Journal of Distribution Science
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• v.11 no.12
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• pp.5-11
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• 2013

Purpose - The purpose of this study was to construct a turnover estimation model by investigating research by Park et al. (2006) on the market area of domestic distribution. The study investigated distribution by using a new tool for the turnover estimation technique. This study developed and discussed the turnover estimation technique of Park et al. (2006), applying it to a large-scale retailer in "D"city that was suitable for on-the-spot distribution. It constructed the new model in accordance with test procedures keeping to this retail business location, to apply its procedures to a specific situation and improve the turn over estimation process. Further, it investigated the analysis and procedures of existing turnover estimation cases to provide problems and alternatives for turnover estimation for a large-scale retailer in "D"city. Finally, it also discussed problems and scope for further research. Research design, data, and methodology - This study was conducted on the basis of "virtue" studies. In other words, it took into account the special quality of the structure of Korea's trade zones. The researcher sought to verify a sale estimate model for use in a distribution industry's location. The main purpose was to enable the sale estimate model (that is, the individual model's presentation) to be practically used in real situations in Korea by supplementing processes and variables. Results - The sale estimate model is constructed, first, by conducting a data survey of the general trading area. Second, staying within the city's census of company operating areas, the city's total consumption expenditure is derived by applying the large-scale store index. Third, the probability of shopping is investigated. Fourth, the scale of sales is estimated using the process of singularity. The correct details need to be verified for the model construction and the new model will need to be a distinct sale estimate model, with this being a special quality for business conditions. This will need to be a subsequent research task. Conclusions - The study investigated, tested, and supplemented the turnover estimation model of Park et al. (2006) in a market area in South Korea. Supplementation of some procedures and variables could provide a turnover estimation model in South Korea that would be an independent model. The turnover estimation model is applied, first, by undertaking an investigation of the market area. Second, a census of the intercity market area is carried out to estimate the total consumption of the specific city. Consumption is estimated by applying indexes of large-scale retailers. Third, an investigation is undertaken on the probability of shopping. Fourth, the scale of turnover is estimated. Further studies should investigate each department as well as direct and indirect variables. The turnover estimation model should be tested to construct new models depending on the type of region and business. In-depth and careful discussion by researchers is also needed. An upgraded turnover estimation model could be developed for Korea's on-the-spot distribution.

• Journal of Distribution Science
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• v.13 no.10
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• pp.73-82
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• 2015

Purpose - This paper aims to investigate whether information asymmetry could explain capital structures in Korean corporations. According to Myers (1984), firms prefer internal funding to external financing due to the costs associated with information asymmetry. When external financing is necessary, firms prefer to issue debt rather than equity by the same reasoning. Since Shyam-Sunder and Myers (1999), numerous studies continue to debate the validity of the theory. In this paper, we show how the theory depends on assumptions and incorporated variables. We hope our investigation can provide helpful implications regarding capital structure, information asymmetry, and other firm characteristics. Specifically, our empirical results are complementary to the analysis of Son and Lee's (2015), a recent study that examines the pecking order theory prediction for Korean retail firms. Research design, data, and methodology - We test empirical models that are some variants of model used in Shyam-Sunder and Myers (1999). The financial and accounting data are provided by WISEfn for the firms listed on the KOSPI during 1990 to 2013. Bond ratings are supplied by the Korea Investor Service (KIS). We take into account the heterogeneity in debt capacity; a firm's debt capacity is measured by using the method of Lemmon and Zender (2010) based on its bond ratings. Finally, we estimate empirical models suggested by Shyam-Sunder and Myers (1999), Frank and Goyal (2003), and Lemmon and Zender (2010). Results - First, we find that Shyam-Sunder and Myers' (1999) prediction fails to explain total debt changes of Korean firms. Second, we find a non-monotonic relationship between total debt changes and financial deficits with respect to debt capacity. This contradicts the prediction of Lemmon and Zender (2010) that argues the pecking order theory survives with a monotonically increasing relationship. Third, we estimate a negative correlation coefficient between financial deficit and current debt changes. The result is the complete opposite of the prediction of Lemmon and Zender (2010). Finally, we also confirm the non-monotonic relationship between non-current debt changes and financial deficits with respect to debt capacity. Yet, the slope of coefficient is smaller than that of total debt change case. Indeed, the results are, to some extent, consistent with the prediction of pecking order theory, if we exclude the mid-debt capacity firms. Conclusions - Our empirical results complementary to the analysis of Son and Lee (2015), a recent study focusing on capital structure in Korean retail firms; their paper suggests interesting topics regarding capital structure, information asymmetry, and other firm characteristics in Korean corporations. Contrary to Son and Lee (2015), our results show that total debt changes and current debt changes are inconsistent with the prediction of Shyam-Sunder and Myers (1999). However, similar to Son and Lee (2015), non-current debt changes are consistent with the pecking order prediction, in the case of excluding the mid-level debt capacity firms. This contrast allows us to infer that industry characteristics significantly affect the validity of the pecking order prediction. Further studies are needed to analyze the economics behind this phenomenon, which is beyond the scope of our paper. In addition, the estimation bias potentially matters regarding the firm-level debt capacity calculation. We also reserve this topic for future research.

• Quality Improvement in Health Care
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• v.28 no.2
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• pp.30-38
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• 2022

Purpose: The Health Insurance Review and Assessment Service (HIRA) in South Korea initiated a quality assessment (QA) program for blood transfusion healthcare services in 2020 to ensure patient safety and appropriate blood use. This study examines the quality of blood transfusion services since the first national QA program for blood transfusion services in Korea. Methods: We analyzed HIRA claims and QA investigation data based on inpatient medical records from all tertiary, general, and primary hospitals between October 2020 and March 2021. The target population was patients aged 18 years and older who received either total knee arthroplasty or red blood cell transfusion. The QA indicators for transfusion healthcare service consisted of four quality indicators and four monitoring indicators. Results: We analyzed the results of QA indicators for transfusion service from the medical records of 189,668 patients from 1,171hospitals and expressed indicators as proportions. The average results for evaluation indicators were as follows: transfusion checklist presence, 64.8%; irregular antibody tests, 61.8%; transfusions in which the hemoglobin levels before transfusion met the transfusion guidelines for patients undergoing total knee arthroplasty, 20.6%, and transfusions in patients undergoing total knee arthroplasty, 59.3%. The average results for monitoring indicators were as follows: transfusion management implementation in medical institutions, 56.9%; preoperative anemia management in anemia patients undergoing total knee arthroplasty, 43.9%; one-unit transfusions, 82.5%; and the transfusion index. Conclusion: The quality of blood transfusion healthcare varied and the assessment revealed that there is scope for improvement. Hospitals require more effective blood transfusion management and this can be facilitated by providing feedback on the QA results about blood transfusion healthcare services to medical institutions, and by disclosing the results to the public.