• Management & Information Systems Review
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• v.37 no.4
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• pp.1-20
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• 2018

This study aimed to examine earnings quality of firms selected as Global Champs project which has been promoted by the government since 2013 to support small and medium sized enterprises, for the screening year(t-1) and selected year(t). Earing quality is measured as the value of discretionary accruals estimated by Dechow et al.(1995) adjusted Jones model and Kothari et al.(2005) model, respectively. I analyze the differences of earning quality between the Global Champ firms and the paired firms selected through criteria of the similar total assets and the same industry in the screening year and the selected year. This study is motivated by the needs of measurement of the performance of the Project from the accounting transparent point of view. As the results of this study, major findings are summarized as follows. Firstly the earnings quality of the selected firms was lower than that of the paired firms. This can be explained as a result of motivation of earnings management by companies eager to meet the requirements to be selected for the Project. Secondly, in the selected year, the earnings quality was proved to improve, comparing to the screening year. This can be explained by the efforts of companies to reinforce management innovation and transparent management, which in turn led to positive effects on the earnings quality. These findings were found to be consistent in the additional analyses, where the earning quality of the reconstructed sample with only selected companies was compared for the screening year and the selected year, based on the year before the screening year(t-2).

• Journal of Korea Port Economic Association
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• v.37 no.3
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• pp.117-128
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• 2021

In order for the users (shipping firms and shippers) and suppliers (stevedoring firms) in the container terminal industry to win-win, it is necessary to have some appropriate diverse market conditions for the industry. This study analyses the basic conditions and demand and supply characteristics of the industry and investigates the market performance of Busan container ports. First, this article analyses the basic characteristics of demand and supply. As the demand characteristics, there are five ones such as 1) exogeneity of demand, 2) function as export/import transportation and hub for transshipment, 3) increase of users' bargaining power, 4) high substituting elasticity, 5) reduction of volume growth. As the supply characteristics, there are seven ones such as 1) inelasticity of supply, 2) homogeneity of stevedoring services, 3) over-supply, 4) adoption of cutting-edge stevedoring technology, 5) scale economy and impossibility of storage, 6) labor market rigidity, 7) enhancing port's role in SCM. In addition, this study conducts the so-called structure-conduct-performance analysis. For the structure analysis, 1) lacks of scale economy in stevedoring companies, 2) high entry barrier, 3) strengthening of shipping firms' bargaining power, 4) transitory permission scheme for tariff are analyzed. For the conduct analysis, 1) price discrimination between export/import and transshipment, 2) mid-term length of terminal use contract, 3) continuous investment in equipment, 4) low level of cooperation among terminal operating firms are derived. For the performance analysis, 1) inequality in profitability, 2) reduction of export/import cost, 3) delay in adopting cutting-edge technology, 4) idle equipment are analyzed. Following this logical flow, the hypothesis that the market structure influences the market conduct is tested based on the actual dataset. As a future agenda in the conclusion, this article recommends the so-called port industrial policy.

• Land and Housing Review
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• v.12 no.2
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• pp.33-45
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• 2021

Due to recent changes in government policy, officetels have received attention as alternative assets, along with the uplift of office and apartment prices in Seoul. However, the current officetel price indexes use small-size samples and, thus, there is a critique on their accuracy. They rely on valuation prices which lag the market trend and do not properly reflect the volatile nature of the property market, resulting in 'smoothing'. Therefore, the purpose of this paper is to create the officetel price index using transaction data. The data, provided by the Ministry of Land, Infrastructure and Transport from 2005 to 2020, includes sales prices and rental prices - Jeonsei and monthly rent (and their combinations). This study employed a repeat sales model for sales, jeonsei, and monthly rent indexes. It also contributes to improving conversion rates (between deposit and monthly rent) as a supplementary indicator. The main findings are as follows. First, the officetel price index and jeonsei index reached 132.5P and 163.9P, respectively, in Q4 2020 (1Q 2011=100.0P). However, the rent index was approximately below 100.0. Sales prices and jeonsei continued to rise due to high demand while monthly rent was largely unchanged due to vacancy risk. Second, the increase in the officetel sales price was lower than other housing types such as apartments and villas. Third, the employed approach has seen a potential to produce more reliable officetel price indexes reflecting high volatility compared to those indexes produced by other institutions, contributing to resolving 'smoothing'. As seen in the application in Seoul, this approach can enhance accuracy and, therefore, better assist market players to understand the market trend, which is much valuable under great uncertainties such as COVID-19 environments.

• Korean Journal of Ecology and Environment
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• v.56 no.3
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• pp.187-195
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• 2023

Almost all of the water from agricultural dams located to the upper of the Yeongsan river is supplied as irrigation water for farmland and thus is not discharged to the main stream of the river. Also, most of the irrigation water does not return to the river after use, adding to the lack of flow in the main stream. As a result, the water quality and aquatic health of the river have become the poorest among the four major rivers in Korea. Therefore, in this study, several strategies for water quality improvement of the river were developed considering pollution reduction and flow rate increase, and their effect analysis was performed using a water quality model. The results of this study showed that the target water quality of the Yeongsan river could be achieved if flow increase strategies (FISs) are intensively pursued in parallel with pollution reduction. The reason is because the water quality of the river has been steadily improved through pollution reduction but this method is now nearing the limit. In addition, rainfall-related FISs such as dam construction and water distribution adjustment may be less effective or lost if a megadrought continues due to climate change and then rainfall does not occur for a long time. Therefore, in the future, if the application conditions for the FISs are similar, the seawater desalination facility, which is independent of rainfall, should be considered as the priority installation target among the FISs. The reason is that seawater desalination facilities can replace the water supply function of dams, which are difficult to newly build in Korea, and can be useful as a climate change adaptation facility by preventing water-related disasters in the event of a long-term megadrought.

• Korean Business Review
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• v.21 no.2
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• pp.137-170
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• 2008

This study is presenting the logistics strategy in the international logistics markets which makes competition and corporation among north-east Asian countries to establishing the multi-pass Eurasian railroads. The countries located in north-east area of Eurasia like China, Japan, Russia and Korea are paying higher costs and disutility to the transportations and communications due to repeated conflicts and confrontations causes from the politic problems. They are being used surface transportation for most of all logistics between Europe and Asia except special merchandises because of characteristic of cargo to be air, the Silk Road remains vestige only which was main logistic passage to this area since BC. So far the Trans-Siberian Railway is being used by Russia mostly as north of Eurasian transport because of difficulties of service. The Trans-China Railway built in 1992 is not accomplishing as a international logistic passages. It is expected to take a long lead time because of characteristic of resource development and poor logistic infrastructure to the countries like Uzbekistan, double landlocked country, Mongolia and Azerbaijan, the countries do not be adjacent to the sea, even they have great economic jump-up plans through the development of their own resources. The Shanghai Cooperation Organization(SCO) start to sail officially in 2001 is constructed with China, Russia, Tadzhikistan, Kyrgyzstan, Kazakhstan and Uzbekistan as regular members of 6 countries and Mongolia, India, Pakistan, Afghanistan and Iran as observers 5 countries. It is started as a military alliance to protect terror, but now, it is expended to cooperate with the traffic, transportation, trade and share of energies. The Russia is doing their best to activate TSR as a government target to developnorth area equivalently, and economic develop of far-east Siberia. And also it is agreed provisionally to improve and repair of rail road between Nahjin and Hassan to connect TSR and TKR( Trans-Korea Railroad) by Russia, North Korea and South Korea with Russian's aggressive efforts. The development plan of this area is over lapped with GTI(Greater Tumen Initiative) promoted by UNDP, and is a cooperated project by 5 countries of South Korea, Mongolia, China, Russia and North Korea, subject to review the appropriation of energy, tour, environment, rail road connection between Mongolia and China and establishing a ferry route to north-east Asia. It is Japanese situation to pay attention to Russia and China even they have been supplying large-scope of infrastructure in Mongol area without any charges, target to get East Asia Main Rail Road to connect Mongolia and Zalubino of Russia. In case of the program for the Denuclearization of North Korea is not creeping, it will be accelerated to connect the TKR and TSR, TKR and TCR by somehow attending United States, including developing program promoted by UN ESCAP. As the result, Korean peninsular will continue the central role of competition and cooperation as in the past, now and future of north-east Asia, as of geographical-economics and geographical-politics whether it is requested or not wanted by neighbor countries.