• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.1
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• pp.47-65
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• 2023

As stakeholder demands and sustainable finance grow, ESG management and ESG evaluation are becoming important. SMEs should also prepare for the trends of ESG rating practices that affects supply chain management and financial transactions. However, SMEs have no choice but to focus on survival first, so there are restrictions on putting into ESG management. In addition, there is a lack of research on the legitimacy of ESG management by SMEs, and volatility in ESG evaluation systems and rating grades is also increasing. Accordingly, it is necessary to review ESG evaluation trends and practical guidelines along with the review of previous studies. As a result of the exploratory study, SMEs need to implement ESG management and make efforts to specialize in ESG related new businesses under conditions in which their survival base is guaranteed in terms of implementation strategies. In addition, it is necessary to focus on the strategic use of various evaluation results along with accumulating information favorable for ESG evaluation through organizational learning and software management. The implications of this study are that various studies such as the classification criteria for SMEs and the relationship between ESG evaluation grades and long-term survival rates are needed in ESG evaluation of SMEs. At the government policy level, it is time to consider the ESG evaluation system exclusively for SMEs so that ESG management can be implemented and ESG evaluation at different levels by industry and size.

• Journal of Climate Change Research
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• v.5 no.1
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• pp.1-12
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• 2014

With continued economic growth, Korea has seen an increase in the nighttime activities of its citizens as hours of activity have extended into night. There is an increasing trend in energy consumption related to citizens' nighttime activities. In order to analyze ideas for an efficient replacement of the power consumption of streetlights and for profit generation by applying grid-type solar systems, this study used an RETScreen model. Through energy analysis and cost analysis, the application benefit and viability of grid-type solar street light systems were analyzed. With analysis result of a total weekly power generation of 114 kWh via a grid-connected solar streetlight system, it was shown that the net present value of a grid-connected solar street light system is 155,362 KRW, which would mean a payback period of about 5.2 years, and as such, it was shown that profit could be generated after about 6 years. In addition, if the grid-connected solar power generation system proposed by this study is to be applied, it was shown that 401,935 KRW in profit could be generated after the 20-year useful life set for the solar system. In addition, the sensitivity analysis was performed taking into account the price fluctuations of SMP, maintenance. As a result, a payback period has increased by 1~2 years, and there were no significant differences. Because the most important factor that affect the economic analysis is the cost of supply certification of renewable energy, a stable sales and acquisition of this certification are very important. the Seoul-type Feed in Tariff(FIT) connected to other institutions will enable steady sales by confirming to purchase the certification for 12 years. Therefore, if those issues mentioned above are properly reflected, Central-grid PV system project will be able to perform well in the face of unfavorable condition of solar PV installation.

• The Korean Journal of Air & Space Law and Policy
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• v.31 no.2
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• pp.145-176
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• 2016

Aviation safety can be secured through regulations and policies of various areas and thorough execution of them on the field. Recently, for aviation safety management Korea is making efforts to prevent aviation accidents by taking various measures: such as selecting and promoting major strategic goals for each sector; establishing National Aviation Safety Program, including the Second Basic Plan for Aviation Policy; and improving aviation related legislations. Obstacle limitation surface is to be established and publicly notified to ensure safe take-off and landing as well as aviation safety during the circling of aircraft around airports. This study intends to review current aviation obstacle management system which was designed to make sure that buildings and structures do not exceed the height of obstacle limitation surface and identify its operating problems based on my field experience. Also, in this study, I would like to propose ways to improve the system in legal and regulatory aspects. Nowadays, due to the request of residents in the vicinity of airports, discussions and studies on aviational review are being actively carried out. Also, related ordinance and specific procedures will be established soon. However, in addition to this, I would like to propose the ways to improve shortcomings of current system caused by the lack of regulations and legislations for obstacle management. In order to execute obstacle limitation surface regulation, there has to be limits on constructing new buildings, causing real restriction for the residents living in the vicinity of airports on exercising their property rights. In this sense, it is regarded as a sensitive issue since a number of related civil complaints are filed and swift but accurate decision making is required. According to Aviation Act, currently airport operators are handling this task under the cooperation with local governments. Thus, administrative activities of local governments that have the authority to give permits for installation of buildings and structures are critically important. The law requires to carry out precise surveying of vast area and to report the outcome to the government every five years. However, there can be many problems, such as changes in the number of obstacles due to the error in the survey, or failure to apply for consultation with local governments on the exercise of construction permission. However, there is neither standards for allowable errors, preventive measures, nor penalty for the violation of appropriate procedures. As such, only follow-up measures can be taken. Nevertheless, once construction of a building is completed violating the obstacle limitation surface, practically it is difficult to take any measures, including the elimination of the building, because the owner of the building would have been following legal process for the construction by getting permit from the government. In order to address this problem, I believe penalty provision for the violation of Aviation Act needs to be added. Also, it is required to apply the same standards of allowable error stipulated in Building Act to precise surveying in the aviation field. Hence, I would like to propose the ways to improve current system in an effective manner.

• Journal of Environmental Policy
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• v.5 no.1
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• pp.45-70
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• 2006

China has achieved great economic growth above 9% annual since it changed to more of a market economy system by its reform and open-door policy. At the same time, China has experienced severe ecological deterioration, such as air and water pollutions caused by its rapid urbanization and industrialization. China is now confronted with environmental pollution and ecological deterioration at a critical point, at which economic development in China is limited. Moreover, environmental problems in China have become a lit fuse for social fluctuation beyond pollution problems. The root and background of environmental problems in China, firstly, are its government's lack of understanding of these problems and incorrect economic policies affected by political and ideological prejudice. Secondly, the plundering of resources, 'the principle of development first' which didn't consider environmental sustainability is another source of environmental deterioration in China. In addition, a huge population and poverty in China have increased the difficulty in solving its environmental problems, and in fact have accelerated them. The Chinese government has established many environmental laws and institutions, increased environmental investments, and is enlarging the participation of NGOs and the general public in some limited scale to solve its environmental problems. However, it has not obtained effective results because of the lack of environmental investments owing to the government's limit of the development phase, a structural limit of law enforcement and local protectionism, and the limit of political independency in NGOs and the lack of public participation in China. It seems that China remains in the stage of 'economic development first, environmental protection second', contrary to its catch-phrase of 'the harmony between economic development and environmental protection'. China is now confronted with dual pressure both domestically and abroad because of deepening environmental problems. There are growing public's protests and demonstrations in China in response to the spread of damage owing to environmental pollution and ecological deterioration. On the other hand, international society, in particular neighboring countries, regard China as a principal cause of ecological disaster. In the face of this dual pressure, China is presently contemplating a 'recycling economy' that helps sustainable development through the structural reform of industries using too much energy and through more severe law enforcement than now. Therefore, it is desirable to promote regional cooperation more progressively and practically in the direction of building China's ability to solve environmental problems.

• The Korean Journal of Financial Management
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• v.24 no.2
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• pp.41-79
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• 2007

This study examines the expiration-day effects of stock index futures and options in the Korean stock market. The so-called 'expiration-day effects', which are the abnormal stock price movements on derivatives expiration days, arise mainly from cash settlement. Index arbitragers have to bear the risk of their positions unless they liquidate their index stocks on the expiration day. If many arbitragers execute large buy or sell orders on the expiration day, abnormal trading volumes are likely to be observed. If a lot of arbitragers unwind positions in the same direction, temporary trading imbalances induce abnormal stock market volatility. By contrast, if some information arrives at market, the abnormal trading activity must be considered a normal process of price discovery. Stoll and Whaley(1987) investigated the aggregate price and volume effects of the S&P 500 index on the expiration day. In a related study, Stoll and Whaley(1990) found a similarity between the price behavior of stocks that are subject to program trading and of the stocks that are not. Thus far, there have been few studies about the expiration-day effects in the Korean stock market. While previous Korean studies use the KOSPI 200 index data, we analyze the price and trading volume behavior of individual stocks as well as the index. Analyzing individual stocks is important for two reasons. First, stock index is a market average. Consequently, it cannot reflect the behavior of many individual stocks. For example, if the expiration-day effects are mainly related to a specific group, it cannot be said that the expiration of derivatives itself destabilizes the stock market. Analyzing individual stocks enables us to investigate the scope of the expiration-day effects. Second, we can find the relationship between the firm characteristics and the expiration-day effects. For example, if the expiration-day effects exist in large stocks not belonging to the KOSPI 200 index, program trading may not be related to the expiration-day effects. The examination of individual stocks has led us to the cause of the expiration-day effects. Using the intraday data during the period May 3, 1996 through December 30, 2003, we first examine the price and volume effects of the KOSPI 200 and NON-KOSPI 200 index following the Stoll and Whaley(1987) methodology. We calculate the NON-KOSPI 200 index by using the returns and market capitalization of the KOSPI and KOSPI 200 index. In individual stocks, we divide KOSPI 200 stocks by size into three groups and match NON-KOSPI 200 stocks with KOSPI 200 stocks having the closest firm characteristics. We compare KOSPI 200 stocks with NON-KOSPI 200 stocks. To test whether the expiration-day effects are related to order imbalances or new information, we check price reversals on the next day. Finally, we perform a cross-sectional regression analysis to elaborate on the impact of the firm characteristics on price reversals. The main results seem to support the expiration-day effects, especially on stock index futures expiration days. The price behavior of stocks that are subject to program trading is shown to have price effects, abnormal return volatility, and large volumes during the last half hour of trading on the expiration day. Return reversals are also found in the KOSPI 200 index and stocks. However, there is no evidence of abnormal trading volume, or price reversals in the NON-KOSPI 200 index and stocks. The expiration-day effects are proportional to the size of stocks and the nearness to the settlement time. Since program trading is often said to be concentrated in high capitalization stocks, these results imply that the expiration-day effects seem to be associated with program trading and the settlement price determination procedure. In summary, the expiration-day effects in the Korean stock market do not exist in all stocks, but in large capitalization stocks belonging to the KOSPI 200 index. Additionally, the expiration-day effects in the Korean stock market are generally due, not to information, but to trading imbalances.

• Journal of The Korean Society of Grassland and Forage Science
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• v.40 no.1
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• pp.29-36
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• 2020

This study was conducted to suggest the new grassland grade system on evaluating the grassland status. The grassland status has been evaluated based on the forage yield (good, fair and poor) by municipal authorities. The grassland grades by current system were 19 good, 11 fair and 11 poor among the 41 grassland farms from 6 provinces. This evaluation result differed greatly from the result of actual measurement of forage yields which showed all poor. The big difference was resulted from failing the reflection of the various characteristics, such as different seasonal growth and harvest frequency. Furthermore, the lack of consistent examining date and method added the inaccuracy of current grassland grade system. The new grassland grade system based on the grassland vegetation ratio (grass, weed and bare soil) was initially designed into 6-grade system (1st; 100~80%, 2nd; 79~60%, 3rd; 59~40%, 4th; 39~20%; 5th; 19~1% and 6th; 0% on the basis of grasses proportion), but later was changed into 4-grade system (1st, 2nd, 3rd, and 4th grades are 70% or more, 50% or more, 50% or less, and 0% of forage proportion, respectively) after reflecting the opinion of grassland farms and municipal authorities. Re-evaluation on the grassland status using the 4-grade system resulted in the total 80% consisted of 2nd, 3rd and 4th grade which means most grasslands needs the partial reseeding or the rehabilitation of entire grassland. Pictures and schematic diagrams depicting the 4-grade system were presented to improve the objectivity of evaluation. The optimal time for assessing grassland status is fall when plant height 20~30 cm. Conclusively, the 4-grade system is an efficient method for all non-professionals including grassland farms or municipal authorities in assessing the grassland status. To apply this system to the field, the institutional arrangements such as amendment of grassland act should take place in advance.

• Journal of Distribution Science
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• v.10 no.5
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• pp.7-17
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• 2012

The recent announcement of the National Research Foundation of Korea (NRF) to cease journal accreditation operations as of the end of the year 2014 can easily influence the future of many research journals in Korea. Although this plan has not yet been formalized or structured, its facilitation would be the major turning point for the current Korean research and scholarly journals and publications. In addition, the NRF's plan to select and fund top 20 or more research journals over the five year period beginning 2015 suggests that the competition will most likely increase among Korean journals. Each journal would need to develop its unique strategy to improve and strengthen its competitiveness to become or maintain its position as a major research journal in Korea. The association of Korean Distribution of Science (KODISA) and its research journal, Journal of Distribution Science (JDS), has been continuously improving its reputation as a reputable journal in the distribution and related fields since its establishment in 1999. Due to demand, JDS has had to undergo several changes in its publication cycle first from semiannual publication to quarterly, then finally to monthly publications in 2012, and has become one of the major social science journals in Korea. Furthermore, with the redesigning of its webpage with English language in July of 2011, KODISA has made the published journals freely accessible and available to both domestic and foreign researchers, scholars, practitioners, and learners. These changes have resulted in the rapid increase in the bounce rate and the number of journal submissions by foreign scholars, with four research articles having been submitted by foreign scholars just in March of 2012 alone. However, although the changes and outcomes have resulted in a reasonable success so far, the achievement may only become a short-term success without continuously developing, improving, and implementing both effective and efficient strategies through critical, thorough, and frequent examinations and evaluations of both KODISA and JDS. As such, the purpose of this research is to carefully examine both KODISA and JDS to identify problematic factors and to develop appropriate strategies to change or modify those problems for further strengthening and improving their reputation and status. The paper examines and analyzes the past, present, and future of KODISA and JDS and their managerial, operational, and systematic procedures and operations. The narrow scope of research and inefficiencies in promoting the association and the journal and the improvement of impact factors are identified as the notable problems that could hinder JDS from being included in SCOPUS or SSCI in the near future. This type of examination and exploration has not been previously conducted, so the major limitation of this paper can be identified as not meticulously elaborating on the problems nor proving detailed recommendations based on the existing researches. This article asserted that solving the problem of the narrow scope of research would lead to facilitation of resolving other inefficient problems. Inclusion of international academic disciplines to the distribution and their related fields would be the viable initiation of expanding the research area, and this strategy could promote the journal as well as improve its impact factors. The narrow scope of research seems to be a good research topic and merit further exploration as an individual research project, because this kind of research could yield the creation of new understandings or theories.

• Journal of Korean Society of Transportation
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• v.19 no.1
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• pp.101-114
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• 2001

Transportation enterprises should maintain constant and qualitative operation. Thus, in short period, transportation enterprises don't change supply in accordance with demand. In the result, transportation enterprises don't reduce operation in spite of management deficit at will. In freight transportation type, less-than-truckload(LTL) has more relation with above transportation feature than truckload(TL) does. Because freight transportation supply of TL is more flexible than that of LTL in correspondence of freight transportation demand. Relating to above mention, it appears that shortage of road and freight terminal of LTL is larger than that of TL. Especially in road and freight terminal comparison, shortage of freight terminal is larger than that of road. Shortage of road is the largest in 1990, and improved after-ward. But shortage of freight terminal is serious lately. So freight terminal needs more expansion than road, and shows better investment condition than road. Freight terminal expansion brings road expansion in LTL, on the contrary, freight terminal expansion substitutes freight terminal for road in TL. In transportation revenue, freight terminal's contribution to LTL is larger than that to TL. However, when we adjust quasi-fixed factor - road and freight terminal - to optimal level in the long run, in TL, diseconomies of scale becomes large, but in LTL, economies of scale becomes large. Consequently, it is necessary for TL to make counterplans to activate management of small size enterprises and owner drivers. And LTL should make use of economies of scale by solving the problem, such as nonprofit route, excess of rental freight handling of office, insufficiency of freight terminal, shortage of driver, and unpreparedness of freight insurance.

• Journal of Legislation Research
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• no.41
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• pp.261-302
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• 2011

A lien is the right to possession the thing until receiving repayment of its bonds in some cases that the property of other person or the occupant for marketable securities receive the bond that has occurred on that property or marketable securities. This has own purpose to break 'principle of creditor equality' to protect especially the bond of the subject occupant in terms of justice. These lien on our civil law come according to the law in prepared certain requirements. However, an incomplete real rights granted by way of security that does not have a preferential performance right or seniority on the exchange value of the object suffer from the problems a lot in the real estate auction process because of the feature that is not announced in the register unlike the mortgage. In addition, the lien of real estate is not lapsed in an auction process. There is no preferential performance righ in a positive law as providing that can oppose to the buyer(a successful bidder) until received repayment the secured bond price to be compliant with the lien(Civil Case Execution Law the 91st clause of Article 5). However, as asserted the super preferential performance righ to a buyer in real terms, acts as primary cause of breaking unexpected loss and according unfair law relation to a senior mortgagee and seizor, etc. and the principles of the creditors equality to the persons concerned in other words, the principles of justice. All of these issues are the establishment of the lien and theory conflict on the effects. In spite of the fluctuations of a real right about real estate is announced as a registration by the current law, only the lien come into unclear announcement means for possession. In addition, Civil Case Execution Law argument is caused by the adoption abernahmeprinzip about the lien (Civil Case Execution Law the 91st clause of Article 5). Therefore, this paper was examined briefly the significance and purpose, history and law-making examples of each country and the valid requirements and effect of the lien that is basic principle of law about the lien system above all. And then, it will be reviewed the improvement plan for de lege ferenda to improve the issues about this after reviewing the objection, theory and judicial precedent about opposing power and preferential performance right of the lien in the real estaKey Words : Lien, Oppose Power, Mortgage right, Preferential Performance right, Seizure, Real Estate Auction, Lien who can not Opposing against Successful Bidder, Lien who can Oppose against Successful Bidder, Possessionte auction that is a fundamental problem on requirement and effect of the lien.

• 한국사회정책
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• v.25 no.2
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• pp.429-446
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• 2018

The $4^{th}$ Industrial Revolution, symbolizing the explosive innovation of digital technologies, is expected to have a great impact on labor relations and produce a lot of contested issues. The labor-management issues, created by the $4^{th}$ Industrial Revolution, are as follows: (1) employment restructuring, job re-allocation, and skill-reformation, driven by the technological displacement, resetting of worker-machine relationship, and negotiation on labor intensity and autonomy, (2) the legislation of institutional protection for the digital dependent self-employed, derived from the proliferation of platform-mediated labor, and the statutory recognition of their 'workerness', (3) unemployment safety net, income guarantee, and skill formation assistance for precarious workeforce, (4) the protection of worker privacy from workplace surveillance, (5) protecting labor rights of the digital dependent self-employed and prcarious workers and guaranteeing their unionization and collective bargaining. In comparing how labor unions in Western countries have responded to the $4^{th}$ Industrial Revolution, German unions have showed a strategic approach of policy formation toward digital technological innovations by effectively building and utilizing diverse channel of social dialogue and collective bargaining, while those in the US and UK have adopted the traditional approach of organizing and protesting in attempting to protect the interest of platform-mediated workers (i.e. Uber drivers). In light of the best practice demonstrated by German unions, it is necessary to build the process of productive policy consultation among three parties- the government, employers, and labor unions - at multi levels (i.e. workplace, sectoral and national levels), in order to prevent the destructive damage as well as labor-management confrotation, caused by digital technological innovations. In such policy consultation procesess, moreover, the inclusive and integrated approach is required to tackle with diverse problems, derived from the $4^{th}$ Industrial Revolution, in a holistic manner.