• KDI Journal of Economic Policy
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• v.35 no.2
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• pp.133-166
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• 2013

This study analyzes the relationships between soft dollar(brokerage commission) and characteristics of funds, and between brokerage commission and return on funds, using the data on equity funds of Korea from June 2008 to November 2011. The result confirms a statistically significant negative relationship between management & sales fees and brokerage commission, meaning that rather than raising management & sales fees, which could be easily recognized by investors, it is through brokerage commission, a hidden cost, which asset management firms indirectly compensate for their services. Meanwhile, the analysis on the relationship between brokerage commission and return on funds reveals that higher brokerage commissions lead to lower return on funds, meaning at least in short-term no contribution to increasing returns in the future. These results suggest the need for streamlining the system to alleviate conflicts of interest between investors and management firms in addition to effectively controlling for principal-agent problems.

• Journal of the Korean Institute of Landscape Architecture
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• v.38 no.4
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• pp.54-63
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• 2010

The recently-introduced Special Use Permit system is an exceptional approval system for private park developers to develop unexecuted urban park sites into urban parks with the implementation of profit-generating businesses within the boundary of preserving the original function of the park under an agreement with local authorities. This thesis studies the application of this system. This is a feasibility study of cases that have contributed to the acceptance of intended park sites by developing some parts of park sites as public housing, focused on unexecuted urban park areas for the long term in Suwon City based on the Special Use Permit, and creating other sites as park area. First, it has been judged that realization of business is possible at 300 percents of the floor area ratio in case of flatland neighborhood park which has high appraised land values. It is judged that realization of business is possible within a 10 percents size of private land at 200 percents of the floor area ratio in case of woodland and waterside neighborhood parks that have low appraised land values on the outskirts of the city. Second, through working expenses combining compensation and money for park construction, a balance of business profit can be understood within about 50 percents of total expenditures. Because the public contribution ratio by the Special Use Permit can be presumed as about 50 percents of total expenditures, it implies that windfall profits by the Special Use Permit can be adequately collected.

• Journal of Agricultural Extension & Community Development
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• v.12 no.2
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• pp.137-150
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• 2005

Although the rate of women farmer's participation in agricultural activities have been increased upto 52.7 % as of year 2003, Korean society has not fully recognized their roles in rural society. According to the agricultural basic law, most of rural women were engaged in agriculture as full time job, however, only about 11% of them could have supporting evidence of themselves as farmer having legal right. If women farmers faced some unexpected things such as a traffic accident, insurance company would not reward them as farmers unless they provide written proof of their job as farm worker or farm owner. Based on lawyer's legal advice, the authors developed a diary called "Saenghwalilji", a daily diary based on their time use and bookkeeping to prove the fact of their contribution to income generation of the farm. After examination of the diary, 18 persons out of 29 volunteers kept two types of dairy for the period of two weeks, and they reported it was very useful. Finally the better one of two was selected after reflecting the suggestions from the respondents. The "Saenghwalilji", will be very useful proof of women farmer's contribution to income, at the same time improving their farm management through better use of daily life time.

• The Korean Journal of Financial Management
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• v.24 no.1
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• pp.149-182
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• 2007

This study examines the determinants of the long-run stock price performance of the firms that granted stock options between 1997 and 2002. We divide the sample into the firms run by the owner and those run by the professional manager. If the primary reason for granting stock options is reduction of the agency costs between the manager and shareholders, the effect of stock options is likely to be more pronounced in the firms run by the professional manager. We find that the long-run abnormal returns of the firms run by the professional manager are negatively associated with the shareholdings by the manager and the book-to-market value and are positively associated with the earnings growth and the size of the outstanding stock options. In contrast, the long-run abnormal returns of the firms run by the owner are negatively associated with the cash flows rate and the sales growth rate and are positively associated with the firm size. This is consistent with the argument that the agency costs arising from the conflicts between the manager and shareholders are an important determinant of the post-stock option granting long-run stock price performance only in the firms run by the professional manager. The results also suggest that stock options in the firms run by the owner are likely to be used for the purposes such as additional compensation, a signaling device, a means that reduce the agency costs within firms.

• Journal of Digital Convergence
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• v.17 no.9
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• pp.301-310
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• 2019

This study aims to examine eligibilities, services and delivery of services for the current end-of-life care and analyze the quality control of services for end-of-life care. We analyzed the literature and laws on end-of-life systems in Korean and the United States. Current end-of-life care, hospice and palliative care in Korea is being provided mainly in hospital setting. Quality control for the services focuses on setting the criteria for structures in hospitals (i.e. staffing, facilities and equipment). Whereas American end-of-life care system has much broader eligibility for service beneficiaries and provides care mostly at home. Also quality control for services includes process (delivering service) and outcomes, such as monitoring performance indicators and consumer's satisfaction. This is linked to annual payment. The comparative analysis findings contributed to give the next direction of current Korean end-of-life care system. It is nessary to establish the better and extensive end-of-life care system in Korea in considering other countries' end-of-life care systems based on more future research.

• The Korean Society of Law and Medicine
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• v.22 no.3
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• pp.31-55
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• 2021

The Personal Information Protection Act, one of the revised 3 Data Laws, established a special cases concerning pseudonymous data. As a result, a personal information controller may process pseudonymized information without the consent of data subjects for statistical purposes, scientific research purposes, and archiving purposes in the public interest, etc. In addition, as a follow-up to the revised Personal Information Protection Act, a 'Guidelines for Utilization of Healthcare Data' was prepared, which deals with the pseudonymization in the medical sector. The guidelines are meaningful in that they provide practical criteria for accomplices by defining specific interpretations and examples that take into account the characteristics of healthcare data. However, the guidelines need to clarify the purpose of using pseudonymous data and strengthen the fairness of the composition of the data deliberation committee. The guidelines also require establishing a healthcare data compensation framework and strengthening the protection of rights for vulnerable subjects. In addition, the guidelines need to be adjusted for inconsistency with the Bioethics and Safety Act and the Medical Service Act. It is expected that this study will contribute to the creation of a safe environment for the utilization of healthcare data as well as the improvement of related laws and systems.

• Asia Marketing Journal
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• v.12 no.4
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• pp.55-78
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• 2011

Recently strategic alliance between business firms has become prevalent to overcome increasing competitive threats and to supplement resource limitation of individual firms. As one of allianced sales promotion activities, a new type of discount program, so called "Alliance Card Discount", is introduced with the partnership of credit cards and loyalty cards. The program mainly pursues short-term sales growth by larger discount scheme while spends less through cost share among alliance partners. Thus this program can be regarded as cost efficient discount promotion. But because there is no solid evidence that it can really deliver profitable sales growth, an empirical study for its effects on sales and profit should be conducted. This study has two basic research questions concerning the effects of allianced discount program ; 1)the possibility of sales increase 2) the profitability of the discount driven sales. In F&B industry, sales increase mainly comes from increased guest count. Especially in family restaurants, to increase the number of guests we need to enlarge the size of visitor group (number of visitors for one group) because customers visit by group in a special occasion. And because they pay the bill by group(table), the increase of sales per table is a key measure for sales improvement. The past researches for price & discount sensitivity and reference discount rate explain that price sensitive consumers have narrow reference discount zone and make rational purchase decision. Differently from all time discount scheme of regular sales promotions, the alliance card discount program only provides the right to get discount like discount coupon. And because it is usually once a month opportunity given by the past month usage level, customers tend to perceive alliance card discount as a rare chance to get. So that we can expect customers try to maximize the discount effect when they use the limited discount opportunity. Considering group visiting practice and low visit frequency of family restaurants, the way to maximize discount effect should be the increase the size of visit group. And their sensitivity to discount and rational consumption behavior defer the additional spending for ordering high price menu, even though they get considerable amount of savings from the discount. From the analysis of sales data paid by alliance discount cards for four months, we found the below. 1) The relation between discount rate and number of guest per table is positive : 25% discount results one additional guest 2) The relation between discount rate and the spending per guest is negative. 3) However, total profit amount per table is increased when discount rate is increased. 4) Reward point accumulation & redemption did not show any significant relationship with the increase of number of guests. These results suggest that the allianced discount program substantially contributes to sales increase and profit improvement by increasing the number of guests per table. Though the spending per guest is decreased by discount rate increase, the total amount of profit per table is improved. It seems the incremental profit by increased guest count offsets the profit decrease. Additional intriguing finding is the point reward system does not have any significant impact on the increase of number of guest, even if the point accumulation & redemption of loyalty program are usually regarded as another saving offers by customers. In sum, because it is proved that allianced discount program with credit cards and loyalty cards is effective to both sales drive and profit increase, the alliance card program could be recommended as strategically buyable program.

• Journal of Korea Port Economic Association
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• v.22 no.4
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• pp.1-17
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• 2006

In the Bill of Lading of The Irbenskiy Proliv is not subject to the Hague-Visby Rules in accordance with paragraphs (A) and/or (E) of cl.1 or to the Hague Rules in accordance with paragraphs (B) and/or (D) of cl.1. The Irbenskiy Proliv is very rare case that is effective to exempt the carrier as literal words of Bill of Lading. The action concerns cargoes of perishable goods shipped from Brazil to Japan, under Bills of Lading each of which contained an extensive carrier's exemption clause. A preliminary issue was ordered to be determined on the question whether c1.4 is effective to exempt the ralliers from any potential liability for the claims in this case. The court held that there is no reason to reject c1.4 as part of each of the contracts contained in or evidenced by the bills of lading; and it protects the carrier where damage to the goods shipped results from such causes. It is therefore effective to exempt the carriers from any potential liability for those claims.

• Journal of Food Hygiene and Safety
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• v.27 no.1
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• pp.55-62
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• 2012

This study is a survey of regulatees' perception on main contents and enforcement effect of the Act, the retailers at food stores within Green Food Zone, for the effective enforcement of "The Special Act on the Safety Management of Children's Dietary Life" legislated in 2008. Percentage, frequency analysis, and T-test are derived from the survey carried out to the 175 retailers at food stores within Green Food Zone, across the country except Jejudo, for the two months March and April of 2011. The survey results are as follows. Over 80% of the respondents are aware of comprehensive policy for child food safety and the enforcement of 'the Special Act' and considering the rate of satisfaction on food safety information provided by government, over 90% of the respondents, virtually most of them, are satisfied. The rate of awareness of Green Food Zone is about 80% and that of outstanding business for children is about 50%, showing little perception of it. The comparison of the survey result of 2011 with that of 2010, which have the same questions to the retailers within Green Food Zone, still indicates a need for enhancement of understanding on absolute standard, though it showed fairly better improvement in general. Several proposals are given in this study based on the survey results, which will contribute to the children food safety and health improvement in the end.

• Korea journal of population studies
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• v.21 no.2
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• pp.182-227
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• 1998

Korean government decided to adopt an explicit population control policy in 1961 and from the following year the establishment and operation of the national family planning programme was included in each of the Five-Year Economic Development Plans that began in 1962. This policy was pursued in the understanding that without proper population control measures korea could not be able to achieve economic development. Korean national family planning programme is characterized by contraceptive target system through public health network with distribution of free contraceptives by family planning field workers and clinical contraceptive services such as IUD, vasectomy and tubaligation at designated clinics by the government. In addition, IE&C activities by the Planned Parenthood Federation of Korea and programme evaluation and research by the Korea Institute for Health and Social Affairs contributed to the development of the government programme. Between 1960 and mid 1980s the nation's total fertility rate was reduced from 6.0 to population replacement level of 2.1 and thereafter it has been maintained at 1.6 to 1.7 of below replacement level. With a short period of less than three decades fertility transition was completed in Korea. It is estimated that if the current level of below replacement fertility continues, the population in Korea stabilize at around 52.78 million people by the year 2028, and it will begin to decrease thereafter. Under this circumstances, the government adopted new directions and strategies of the population policy in June 1996, focused primarily on population quality and social welfare than on demographic arenas. In spite of over 80 percent of high contraceptive prevalence among married women, high incidence of induced abortions is maintained. Moreover, the prevalence of sex selective induced abortions using procedures to determine the sex of the fetus has resulted in an imbalance in the sex ratio at birth. In order to overcome those problems associated with reproductive health new policy for population quality control and health promotion programme should be highly strengthened in the future.