• Management & Information Systems Review
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• v.29 no.1
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• pp.1-23
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• 2010

This study examines the impacts of outside directors' characteristics and compensation on stock performances of KOSDAQ and NASDAQ IPO firms. The results of this study indicated the following interesting results. First, there is no significant relation between outside directors' age and CARs on KOSDAQ firms. while significant positive relation between outside directors' age and CARs on NASDAQ firms. And the elder age group shows a more positive impact on performances compared with the younger age group. Second, there is no relation between outside directors' academic background and CARs for KOSDAQ firms. But We find a significantly positive one for NASDAQ firms. Third, In Relation to outside directors' careers, their professional or CEO careers group have more positive impact on stock performances than gray directors' careers group. Lastly, there is an insignificant negative relation between the outside directors' compensation and CARs for KOSDAQ firms. while there is a positive relative for NASDAQ firms. In particular, there is a significant positive relative between value of stock options and CARs for NASDAQ firms. from the result, I could find out the stock option for outside' directors have a positive influence on firm value.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2013.10a
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• pp.69-70
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• 2013

IPCC (International Panel on Climate Change) reported that the arctic sea-ice extent has been decreased by 2.7% per decades since satellite observations in 1978. The decreased sea-ice extent has gained an international attention due to its economical benefits from the NSR (Northen Sea Route). The NRS - not a clearly defined single route, but a number of alternative routes across the top of Russiahas a 37 % reduction in sailing distance, comparing to the SSR (Southen Sea Route) passing thourgh the Suez Canal. Sailing days are consequently reduced from 30 days to 20 days. Also, it is estimated that the Northen Sea has 20 to 25% of world's oil resources and occupies 40% of the world's fishery production. As Republic of Korea was admitted as an observer to the Arctic Council on May 15, 2013, there has been increasing needs to explore new route in the Northen Sea. In this situation, Korea Institute of Ocean Science & Technology (KIOST) is preparing a plan for the development of Arctic-circle Ocean Environmental Information System to support the ice navigation and resource exploration in the Arctic. We will introduce a conceptual design of a satellite-based ice navigation supporting system for the northern sea route.

• Information Systems Review
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• v.11 no.2
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• pp.183-207
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• 2009

In general, the introduction of information technology to domestic small and middle size firms is depending on the governmental supporting policy. However, even under this situation there is also a case that the building up of information technology is initiated by the management of small and middle size firms. An accumulated know-how for information technology and powerful leadership in such firms are considered as success factors. This study attempts to analyze a case for 'THEFACESHOP', in which MIS is successfully built. To achieve corporate goals, the CEO of THEFACESHOP based on the extensive knowledge of information technology drove to build up information system. Also, the board of directors supported him, and employees committed to their organization. Through the strong leadership of the CEO, the information system of THEFACESHOP became sufficient and efficient. And it led the organization and the information system to be competitive. In particular, the systematic approach of THEF ACESHOP reinforcing its competitiveness can be summarized as follows: First, it tried to construct basic information systems as like ERP etc. to increase work-efficiency. Second, it completed CRM related systems for analysis to maximize its customer orientation and marketing effect. Third, the last step can be stated as the building up of operation related CRM systems to improve the responsiveness of target marketing activities and the profitability of its agencies. Such endeavors of THEFACESHOP contributed to increase productivity and performance of the organization. As a result, THEFACESHOP has had its own 'Natural Story' and price competitiveness. For that reason THEFACESHOP became the best of brand-shop cosmetic firms. This success based on the strong leadership and the systematic investment on the information system.

• Journal of Energy Engineering
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• v.24 no.4
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• pp.192-199
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• 2015

Under the economic banner of "self-reliance," North Korea has focused on hydro and thermal power as its main energy supply sources. However, in the face of extreme energy penury caused by machinery and material supply instability in the wake of the collapse of the former communist block as well as equipment aging and deterioration due to floods and other disasters, North Korea and international aid organizations are increasingly turning their attention toward energy source diversification. In particular, renewable energy is recognized as the best strategic energy source for North Korea and it is a decentralized energy option that is suitable in light of North Korea's power distribution networks and its pursuit of self-reliance. Biogas can contribute to improving the human rights situation of North Koreans in conjunction with an increase in food production. For this reason, renewable energy is the most promising option for an energy source that is likely to secure humanitarian aid from international organizations such as the Food and Agricultural Organization (FAO) and the World Food Programme (WFP). However, the implementation of such humanitarian aid has been hampered by rising concerns about the diversion of provided energy materials for military purposes and the disguised introduction of dual use items strategic materials as well as UN Security Council resolutions and sanctions of the international community against North Korea's military provocation, including nuclear tests and missile launches. This paper explores the possibility of solving this dilemma and proceeding with the humanitarian aid to North Korea by evaluating the potential for sanction and the risk of diversion of the possible products for biogas-related aid on the basis of the list of UN-sanctioned items.

• The Journal of the Korea Contents Association
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• v.12 no.9
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• pp.280-292
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• 2012

In general, a venture capital invests in tech startups and helps them improve the corporate transparency through board of directors. With respect to venture capital investment and its impact on the corporate transparency of the newly public firms from 2004 to 2010 in Korea, we have made regression analysis. First, it was found that it was likely to be less transparent, the larger its asset size or the higher its debt ratio was. Second, lower level of ownership-control disparity resulted in higher transparency. Third, a shorter period to IPO and higher growth rate were more prominent in companies with lower degree of transparency. The above findings were not conclusive to prove whether or not venture capital directly increases the transparency level of its portfolio companies, but do insinuate the possibility of a negative impact on the transparency of its investee companies, as early IPO's were associated with less transparency. This is all the more persuasive as it was observed that companies with a lower level of transparency had generally raised more money from venture capitals, and that companies with a higher growth rate and/or higher PBR, have shown to be less transparent.

• Management & Information Systems Review
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• v.35 no.1
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• pp.173-188
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• 2016

The introduction and operation of compensation committee can affect managers' incentive-compensation system. In this context, The purpose of this paper examines whether managers' pay-performance sensitivity is affected by the quality of the compensation committee(compensation committee size, the proportion of outside directors on the compensation committee, the proportion of directors with 2 or more non additional board seats on the compensation committee) To test this hypothesis, we use a sample of 260 firm-year observations between 2001-2013. The results are as follows. Firstly, we find that no significant relevance between the compensation committee size and pay-performance sensitivity. But the proportion of outside directors on the compensation committee and the proportion of directors with 2 or more non additional board seats on the compensation committee is positively associated with both pay-earnings based performance sensitivity and pay-stock based performance sensitivity. Secondly, we find that the integration quality of the compensation committee is positively associated with both pay-earnings based performance sensitivity and pay-stock based performance sensitivity. Overall, our analysis suggests that compensation committee are important mechanism in the design of efficient incentive-compensation system.

• Convergence Security Journal
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• v.19 no.3
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• pp.117-126
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• 2019

Historically, the United Nations supported the establishment of the government of the Republic of Korea after liberation and played a decisive role in defending liberal democracy and peace by sending peacekeepers during the Korean War. With the political and military support of the United Nations, the Republic of Korea was able to grow into the world's 10th largest economy today, and now it is time to fulfill its responsibilities and roles to contribute to peace and prosperity in the international community as a middle power. The international peace operations of the United Nations are comprehensive concepts encompassing conflict prevention, peacemaking, peace enforcement, peacekeeping, and peace building, and are implemented in accordance with the Security Council resolutions based on the UN Charter. In order to effectively respond to changes in the international security environment and conflict factors after the post-Cold War, the UN promoted a paradigm shift in international peace operations through the 2000 Brahim Report and the 2015 High-Level Panel Report on UN Peace Activities. Therefore, this study aims to assess the Korean military's international peace operations at a limited level, such as reconstruction assistance and humanitarian assistance, and to present development measures for more active participation as a middle power in the future. To this end, we reviewed the history and specificities of conflict, the conflicting factors after the post-Cold War, and the new paradigm of UN peace operations, focusing on the African region where a number of UN peacekeeping missions are stationed. And it also suggested ways to develop international peace operations that the Korean military should pursue in the future.

• The Korean Journal of Financial Management
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• v.27 no.1
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• pp.89-120
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• 2010

In this paper, we analyse empirically the relations between ownership structure and cash holdings of firms listed on Korea Securities Market and Kosdaq Market of Korea Exchange. The main results of this study can be summarized as follows. Cash holdings increase as large shareholder's equity holdings increase. Cash holdings increase as the difference between first largest shareholder's and second largest shareholder's equity holdings increase, and cash holdings increase as the ownership concentration increase. Managerial ownership exert a non-linear effects on cash holdings. So to speak, at lower level of managerial ownership, managers hold more cash to pursue their own interests at the expense of minority shareholders, but at higher level of managerial ownership, the interests of managers and shareholders are aligned, and also at highest level of managerial ownership, managers hold more cash to pursue their own interests at the expense of minority shareholders. Cash holdings increase larger in owner-controlled firm than in management-controlled firm. These results support the expropriation of minority shareholders hypothesis that large shareholders can extract private benefits from corporate resources under their control at the expense of minority shareholders. This paper contributes to defining information value of large shareholder's equity holdings on cash holdings for a firms' other stakeholders such as investors and creditors, and to strengthening a legal and institutional safeguard for external minority shareholders. Ownership concentration might have negatively affected the evolution of the legal and institutional frameworks for corporate governance and the manner in which economic activity is conducted. It could be a formidable barrier to future policy reform.

• Journal of Legislation Research
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• no.53
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• pp.109-147
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• 2017

North Korean defectors had left North Korea often to escape from food shortages in the mid-1990s. Since the 2000s, the reasons of their flee from North Korea have more resulted from their exposure to external information, and a desire for democracy and freedom. However, North Korean defectors living in China are not recognized as refugees and thus subject to various human rights violations including forced repatriation. It needs to be thought that wether North Korean defectors who escape from North Korea are political refugees under international law. If they are not recognized as refugees in their new countries, it is imperative to consider a possible way to protect their human rights under international law. The problem of recognition of the refugee status of a person is a matter of involving the sovereignty of individual countries, however, the Convention Relating to the Status of Refugees should provide protection of their unique rights, as recognizes by the UNHCR, and their status should be treated as a refugees issue in a broad sense. In the future, it is a necessary to establish international solidarity among individual countries, the UN General Assembly, the decisions of the Human Rights Council and support of UNHCR, to anticipate the need for the refugee recognition and the protection of International Human Rights in preparation for possible mass defections and refugees from North Korea.

• 한국사회정책
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• v.25 no.4
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• pp.265-299
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• 2018

The pilot project for type diversification of self-sufficient support center that convert the centre corporation into social cooperative was introduced in 2015. That aimed to increase the number of participants of self-sufficient programmes and to create more jobs for the working poor through expanding the center's autonomy of usage of budget and arrangement of self-sufficient programmes. This study analyzed the organization transmitting processes and changes of the centers took part in the pilot project, then aimed to suggest the improvement schemes to be helpful for reinforcing positive efforts and removing obstacles in the process converting. The results show that converting into social cooperative is a choice for the sustainability of the centers led by surroundings rather than self-initiated plan. There are some positive changes that are increasing the enterprising spirit and obligation of the center staff. Further more, the cooperation with other community organizations is enhanced based on achieving regional recognition, and support of local governments and the opportunity for new businesses are expanded. However, these are very limited in the regions where social economy is undeveloped. Eventually, we should seek the development schemes of the pilot project considering the reduction of the number of participants in self-sufficient programmes and decreasing of their ability to work, even if some positive aspects are revealed.