• Proceedings of the Korea Institutes of Information Security and Cryptology Conference
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• 2003.07a
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• pp.208-211
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• 2003

최근 인터넷의 급속한 발달은 개인의 생활에 많은 변화를 주었다. 새로운 환경에서 개인의 전자거래는 시장의 요구사항과 산업적 경향에 따라서 변화와 발전을 거듭하게 되었고 그 결과 전자지갑, 전자화폐, 신용카드와 같은 안전한 전자지불시스템이 필연적으로 등장하게 되었다. 하지만 국내에 도입 또는 국내에서 개발된 많은 전자지불시스템이 국산 암호알고리즘을 사용하지 않는 것이 대부분이다. 따라서, 본 논문에서는 전자지 불프로토콜인 SET의 암호알고리즘 중 DES를 국내 암호알고리즘인 SEED로 대체 적용하여 실험실 모델을 설계·구현하였다.

• The Korean Journal of Financial Management
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• v.8 no.1
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• pp.123-137
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• 1991

This paper developes a multiperiod trading model of securities price formation which extends the notion of market created risk introduced by Kraus and Smith [1989]. It is shown that stock price volalitility can depend on combinations of market parameters known to the market participants only imperfectly. Resulting portfolio rebalancing equilibria generate self-justifying price movements while market fundamental remain unchanged.

• The Journal of Information Technology
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• v.6 no.1
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• pp.85-105
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• 2003

The study revealed that the companies are still reluctant to stop using document-based payment methods although they are aware the use of electronic payment system would reduce express and save time. Considering problems that are suggested in the conventional payment method, more companies will introduce and utilize the electronic payment system. Moreover, as the refined electronic payment system is essential in electronic trade, active studies on this field would greatly contribute to the development of electronic payment system. The prevailing settlement of international trade still relies on trading documents while the legal issues are not finalized for electronic bill of lading (B/L) and electronic bill. This research purpose on comparing some e-trading models in character and presenting the obstacles of e-trading activation and the solutions. e-trading models this research has studied are BOLERO, TradeCard, electronic L/C etc. Comparing characteristic points of the e-trading model in this article are as follows; 1)Access ways as a global e-trading model, 2)Structural and Functional characteristic, 3)Role as a global e-trading model, 5)Legal and Application issues in practice, 6)Security issues for Technology. But Further studies on this subject would be needed.

• Korean Business Review
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• v.17 no.2
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• pp.1-23
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• 2004

Since revision of Korean GAAP on the merge transaction in 1999, the few studies on the problems of the GAAP or on the inconsistency of GAAP and regarding tax regulations have been performed. The objective of this study is to understand the present state of the merge transactions, to find out the problems on the regarding GAAP and tax regulations, and to suggest the method to improve them. Among the 69 merge transactions of the listed and registered companies for the recent 3 years, 67 merge transactions are reported as the purchase transactions and 2 transactions as the pooling of interest. And 11 transactions occurred between parents and subsidiaries. I investigate the sufficiency of the foot disclosures on the merge transactions, I find out that the disclosure on the amortization of the negative goodwill are not sufficient, and several transactions are not recorded in conformity with GAAP. This paper indicates the problems on the GAAP as follows: the complicated and irrational method of amortization of the negative goodwill, the valuation of the stocks acquired before the merge, the inconsistent adjustments to purchase consideration contingent on future events, and the valuation of the merge between the parents and subsidiaries. And the problems on the tax regulations are as follows: tax deferment of the income from merge valuation, the ambiguous definitions of the fair value, and stock dividend of the income from merge valuation.

• Journal of the Korean Regional Science Association
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• v.36 no.1
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• pp.37-50
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• 2020

Estimating investment profits of real estate is critical to understand real estate markets and create relevant policy as real estate market and capital market combines closely. Thus, this study applied the concept of Tobin's Q to estimate investment profits for apartments as well as row-houses and multi-family homes in Seoul from 2010 to 2018. Investment profits were estimated by two approaches: subtracting the replacement cost from the transaction price and calculating ratio of the transaction price to the replacement cost, respectively. The spatio-temporal changes in investment profits were apparent in apartments compared with row-houses and multi-family homes. As a result of analyzing the spatial econometrics models, the investment profit was higher in the area with high density and new developments regardless of the housing types. The framework and key findings would be the effective reference to understand residential investment behavior, create relevant housing policy, introduce value capture of windfall, measure regional competitiveness, and estimate housing bubble.

• The Journal of Society for e-Business Studies
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• v.17 no.2
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• pp.63-72
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• 2012

The Korean telecommunications market has been expanding swiftly, these days, to be saturated. In this environment, the upcoming mobile telecommunication market, where 4G service was introduced this year, is becoming more substitutive and competitive. Thus, the demand forecasting of 4G service is very difficult, while it is critical to market success. This paper adopts a multi-generation diffusion model to capture the diffusion and substitution patterns for two successive generation of technological services, i.e., 3G and 4G mobile telecommunications services. The three parameters, i.e., the coefficient of innovation, the coefficient of imitation, and the coefficient of market potential, used in the multi-generation diffusion model based on Norton and Bass[11] are obtained by inference from similar substitutive relations between older and newer telecommunication services to 3G and 4G services. The simulation results show that the Bass type multi-generation model can be successfully applied to the demand forecasting of newly introduced 4G mobile telecommunication service.

• KDI Journal of Economic Policy
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• v.12 no.2
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• pp.81-94
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• 1990

Illegal transactions such as blackmarketing and smuggling allegedly result from too restrictive trade policies. A recent U.S. Senate hearing on the blackmarketing of American goods imported into Korea for the purpose of supporting United States troops and their dependents stationed in Korea concluded with the allegation that Korea's highly restrictive trade practices are responsible for the emergence of the black market. It has also suggested that the removal of such restrictive trade policies would eliminate black market activities. This study addresses the relationship between trade policy and blackmarketing by investigating whether trade liberalization results in the reduction of illegal transactions, and whether the eradication of blackmarketing indeed improves social welfare. When both legally imported goods and illegally exchanged items command the same price, trade liberalization, meaning a decrease in tariff rates or an increase in import quotas, will increase the quantity of legal imports at the expense of illegally transacted goods on the black market. But the price of legally imported goods usually differs from that of illegally sold ones. In this case, a change in the relative prices of these two groups of goods due to a change in trade policy will give rise to income, as well as substitution, effects. Initially, a decrease in the import price due to a decrease in import tax rates or an increase in the allotted quota will reduce illegal transactions, since the decrease in the import price will induce the substitution of legal imports for illegally exchanged, but otherwise, identical goods. On the other hand, the demand for the illegally transacted goods will rise, because of the income effect of the reduced import price. Thus, assuming the positive income effect overwhelms the negative substitution effect, the demand for illegal goods will increase, thwarting the reduction of blackmarketing through trade liberalization. Yet, stepping up the enforcement measures which are geared to preventing blackmarketing itself will drastically reduce the extent of illegal transactions, since it increases the cost of blackmarketing and hence the price of the illegally transacted goods. What this study suggests is that the emergence of the black market in Korea should be attributed more to the excessive supply of duty-free goods imported through U.S. commissaries and exchanges than to the excessive demand for foreign goods. On the other hand, blackmarketing, in most cases, improves economic welfare, since it constitutes an increase in the "actual" amount of imported goods. Suppressing blackmarketing through stepped-up enforcement methods is beneficial only when the substitution effect of the legally transacted goods resulting from the increase in the price of the illegal goods prevails, since the increase in the demand for legal imports must override the decrease in the demand for black market goods as well as the negative income effect.

• Environmental and Resource Economics Review
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• v.25 no.3
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• pp.377-401
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• 2016

This study analyzes how much cost the power generation and energy sector in South Korea have to bear due to the introduction of emissions trading scheme during 2016 - 2017. To this end, the data on the seventh basic plan for long-term electricity supply and demand is applied to the electricity market simulation model called M-Core, and then the model forecasts carbon dioxide emissions to compare with the free emission allowances in the first national emissions permit allocation plan. The main results are as follows. Carbon dioxide emissions are estimated to be less in 2016 but more than the free emission allowances in 2017. When the price of the allowances is changed from \10,000/ton to \20,000/ton, the cost of purchasing the allowances is ranged from \70 billion to \140 billion. Under the assumption that CO2 cost is incorporated into the variable cost, a reversal of merit order between coal and LNG generation takes place when the price of the allowances exceeds \80,000/ton.

• Information Systems Review
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• v.23 no.4
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• pp.45-67
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• 2021

As the transaction volume of the C2C second-hand market is growing, the number of frauds, which intend to earn unfair gains by sending products different from specified ones or not sending them to buyers, is also increasing. This study explores the model that can identify frauds in the online C2C second-hand market by examining the postings for transactions. For this goal, this study collected 145,536 field data from actual C2C second-hand market. Then, the model is built with the characteristics from postings such as the topic and the linguistic characteristics of the product description, and the characteristics of products, postings, sellers, and transactions. The constructed model is then trained by the machine learning algorithm XGBoost. The final analysis results show that fraudulent postings have less information, which is also less specific, fewer nouns and images, a higher ratio of the number and white space, and a shorter length than genuine postings do. Also, while the genuine postings are focused on the product information for nouns, delivery information for verbs, and actions for adjectives, the fraudulent postings did not show those characteristics. This study shows that the various features can be extracted from postings written in C2C second-hand transactions and be used to construct an effective model for frauds. The proposed model can be also considered and applied for the other C2C platforms. Overall, the model proposed in this study can be expected to have positive effects on suppressing and preventing fraudulent behavior in online C2C markets.

• Journal of Arbitration Studies
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• v.25 no.1
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• pp.25-46
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• 2015

Cross-border consumer disputes are on the increase as cross-border trade between consumers and businesses continues to grow. Cross-border consumer disputes are difficult to solve, because there are different languages, laws and institutions between the parties. These consumer disputes can be solved more easily by Online Dispute Resolution (ODR) in comparison with utilizing court processes. ODR is a branch of dispute resolution which uses technology to facilitate the resolution of disputes between parties. It primarily involves negotiation, mediation or arbitration, or a combination of all three. In this respect it is often seen as being the online equivalent of alternative dispute resolution (ADR). On 18 June 2013, the new legislation on Alternative Dispute Resolution and Online Dispute Resolution has been published - the "Directive on Consumer ADR and Regulation on Consumer ODR". The new legislation on ADR and ODR will allow consumers and traders to solve their disputes without going to court, in a quick, low-cost and simple way. The United Nations working group for online dispute resolution of cross-border electronic commerce transactions (UNCITRAL Working Group III) has been underway since 2010 to continue its work on procedural rules for ODR.