• Journal of the Economic Geographical Society of Korea
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• v.11 no.4
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• pp.580-599
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• 2008

This paper aims at examining the existence and characteristics of regional difference in project finance in Korea. Main results of this paper are as follow. Firstly, regional difference in project finance between capital region and local can be seen partially. However, their characteristics are different from corporate finance. ANOVA tests show significant differences of excess interest rate occur in case of commercial real estate projects and significant differences of contracted terms occur in case of residential real estate projects carried out by local banks. Secondly, key factors causing the regional differences in project finance are asymmetric information for cash flow generated by the project between the capital region and local. Especially, regional differences in project finance are different from those in corporate financing because of local banks$^{\circ}{\phi}$ behaviors. They follow and act as the passive members of nationwide banks in case of the capital region projects. Thirdly, prepaid sale system and the guarantee system depending on construction companies dilute the regional differences in project finance in case of residential real estate projects. Although these systems contributed rapid growth of project finance, they may be the main factors distorting project finance market which lead to financial crisis. In these context, policy implications may be derived in order to solve the confronted problems of project finance market.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.4
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• pp.37-47
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• 2013

This study investigates regional financial markets and proposes some policy measures for boosting up the regional financial system. Financial supports for start-ups, small and medium sized enterprises(SMEs) in early stage growth have been constrained due to expanded financial gaps among regions during financial restructuring period. The bank consolidation through M&A is associated with widening financial gaps between Seoul area and others, and between regions where regional banks survives or not. Loans to small firms are associated with relationship lending techniques that may be better supported by smaller regional banks. The loan rate to SMEs in locals where regional banks are activated has tended to be 10%point higher than the locals where regional banks closed, and also drive the greater contribution for preventing local capital outflow and promoting local capital investment by local penetrating strategy. Government should develop regional financial policies to boost up regional financial system, and expand the business area of regional financial institutions for supporting start-ups and SMEs.

• Journal of Korea Port Economic Association
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• v.27 no.3
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• pp.161-177
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• 2011

Nowadays, a capital flow and intimacy of financial system among countries have been increasing in global financial environment. So it is easily possible that the risk of some countries which are in financial crisis infects other countries in the world. A recent global financial crisis reminds countries in East Asia of advancing the financial cooperation as well as financial integration. Countries in East Asia agreed with the Chiang Mai Initiative to prevent a recurrence of financial crisis in East Asia. A bilateral swap arrangement of the CMI has several purposes in order to offer foreign currency liquidity against economic crisis, remove the opportunity cost of foreign exchange reserve, push ahead the financial integration, increase the export-import logistics and so on. This paper analyzes the effect of financial cooperation in East Asia on the export-import logistics with random effect estimation and fixed effect estimation. As a result, each of country in East Asia is able to increase almost 10.3% of the export-import logistics on average.

• Journal of the Korean association of regional geographers
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• v.11 no.4
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• pp.511-522
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• 2005

This paper aims at analyzing the current status, characteristics and problems of housing development project finance firstly, and secondly, examining the policy measures in order to enhancing the housing development project finance systems. The main results of this paper are as follows. Project finances are very activated in the housing development projects, especially, apartment development, since 2001. But most of housing development project finance are not virtual project finance, but conditional corporate finance, because most of project finance didn't uses bankruptcy remote. Therefore, the main policy measures in order to activate effective growth of project finance are, first, institutionalizing of project finance, second, enhancing the feasibility study capabilities of finance companies, third, using the real estate funds effectively, and forth, networking housing development project finances with long-term mortgage finances.

• International Commerce and Information Review
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• v.3 no.2
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• pp.235-259
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• 2001

최근 군산에 자유무역지역이 신규 지정되고 기존의 마산과 익산의 수출자유지역은 자유무역지역으로 이름이 바뀌었다. 새로 도입된 자유무역지역은 성격상 기존의 수출가공구적인 입장에서 탈피하여 제조, 물류, 금융 등이 동시에 가능한 복합적인 성격을 지향하며, 특히 대중국 수출전진기지로서의 군산자유무역지역의 성패가 서해안시대를 맞이한 국민경제 발전의 관건이 되고 있다. 본 연구는 기존의 자유무역지역의 경험과 외국의 자유무역지역의 제도, 군산자유무역지역의 현안문제 등을 종합적으로 검토하여 자유무역지역의 제도개선과 자유무역지역 통합관리시스템 도입방안을 모색하였다.

• Journal of the Korean Regional Science Association
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• v.34 no.4
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• pp.3-18
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• 2018

These days, regional innovation draws more attention than ever as a growth engine for regional economies, and governments put a variety of efforts to establish Regional Innovation systems(RISs). In this circumstance, this study aims to analyze types of RISs and the combinations of the factors influencing innovation performance as measured by patent application. Most of previous works have depended on case-oriented or variable-oriented strategy to classify types of RISs or to analyze the effects on performance of innovation factors, having some limitations: Variable-oriented approaches fail to capture complex combinatory effects of factors, while case-oriented approaches tend to depend on subjective interpretation. This study made use of the recently proposed fs/QCA(Fuzzy-set Qualitative Comparative Analysis) to overcome the limitations of those strategies. Based on the theory of RIS, three factors for regional innovation-input, infrastructure, and network-are used to classify 16 Korean Provinces. The results show that eight types of regional innovation types are identified, and that most of the regions are classified into either IN-type, equipped with high levels of Input and Network, or F-type, with high levels of infrastructure. In addition, applying seven sub-variables of the three factors to the fussy-set combination factor analysis, we examine a combination of factors influencing patent application. The results show that regions with high levels of R&D expense, valid patent, industry-academia cooperation, IP budget, and TLO values, and low IP capital almost always have a high level of patent application. Therefore, for regional innovation, the public sector needs to provide institutional support for R & D personnel training. It is also important to for both the public and the private sectors to make efforts to stimulate IP financing.

• Proceedings of the Korea Water Resources Association Conference
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• 2015.05a
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• pp.268-268
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• 2015

하천법 제66조에서 지자체는 하천에서 생기는 수익금을 하천의 유지 보수에 관한 비용에 사용해야 한다고 규정하고 있고, 동법 시행령 제77조에서 하천 수익금은 하천의 유지 보수를 위해 우선적으로 사용해야 한다고 규정하고 있다. 하천 수익금은 법에서 규정한바와 같이 하천관리를 위해 사용되어야 하지만 건설교통부에서 제공한 2003년도 자료를 분석한 결과 하천과 관련된 용도로 사용된 하천수익금은 30%만 사용되고 있었다. 하천 수익금은 하천의 유지 보수에 우선순위로 사용해야 함에도 불구하고 현재 지자체의 하천 관리에 소요되는 비용을 구체적으로 파악하기 어려운 실정이다. 따라서 본 연구는 지역 내 물 관리 및 재정 관리를 구축하고 있는 네덜란드의 사례를 통하여 국내 하천 유지 보수를 위한 재정확보 도입 방안을 도출하였다. 네덜란드는 지역의 55%가 해수면 아래에 위치한 저지대 국가로 기후변화의 적응을 위해 각 지역별 물 기구는 물 관리를 위한 재정확보로서 독자적인 세금시스템을 구축해왔다. 본 연구는 먼저 네덜란드의 하천관리 측면의 물 기구의 정책방향, 중점추진과제 등의 여건을 살펴봄으로써 네덜란드의 물 관리 방향을 조사하였다. 이를 통해 (1)물 관리 업무에 쓰인 네덜란드 정부 지출 내용 (2)네덜란드 물 관리 기구 법제분석 (3)네덜란드 물 관리 주관 기관 및 재정 조달 방식을 구분할 수 있었다. 또한 국내 하천 수익금 징수 체계와 네덜란드 징수체계를 비교 분석하였다. 비교분석 결과 우리나라와 달리 네덜란드 물기구의 시스템은 중앙정부와 별도로 독립적인 세금시스템을 갖춰 독자적인 하천관리유지가 가능하였다. 이는 지역별 물 기구가 세금을 토대로 물 관리를 위한 금융기관을 설립함으로써 물 관리 재정문제를 해결하고 있기 때문이다. 이는 물 관리를 위한 재원 확보를 위해 네덜란드가 지자체 중심의 물관리가 정착되는 모범적인 사례를 보여주고 있다는 점을 파악할 수 있다. 본 연구를 통하여 네덜란드의 사례를 통해 국내의 재정확보 방안을 위한 방향성을 도출하였다. 네덜란드의 사례는 물 관리의 확보를 위해 자체 금융기관을 설립하여 재원조달을 성공했다는 점에서 국내 하천의 관리 유지 재원조달에 관한 새로운 관점을 시사한다. 국내 하천의 관리유지 재원조달에 대한 논의가 지속되고 있으므로 네덜란드 사례는 향후 우리나라의 하천 관리유지를 위한 재원조달의 제도적 기반을 구축하기 위한 기초 조사로 활용되어 질 것으로 기대한다.

• Korean Journal of Construction Engineering and Management
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• v.20 no.2
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• pp.68-78
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• 2019

Recently, housing prices have surged, and the government has implemented various regulations, such as finance and taxes. Because of the policy, the nationwide housing price have stabilized, but polarization has occurred. Some argue that regulation can adversely affect the actual demand. Therefore, not only the correlation between market variables but also ripple effect of policy has to be analyzed in policy planning and analysis from a microscopic point of view. In this study, a simulation model was developed by integrating system dynamics for analyzing market structure and agent-based model for modeling decision process of market participants. This research applied the financial regulation and the tax regulation to the model and evaluated the policy effectiveness. This study reveals which feedback dominates according to the policies, which have same purpose. It is because market participants make different decision for each policy. Furthermore, there were other ripple effects not only in the policy target submarket but also in other submarket.

• International Commerce and Information Review
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• v.14 no.4
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• pp.317-337
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• 2012

This study has investigated shipping finance systems in Korea and China, and extracted negative factors based on it to propose a way to develop the shipping financial system in Korea for shipbuilding industry and marine transportation. From after the global financial crisis in 2008 to right before the Lehman Brothers Holdings bankruptcy, shipping finance has been dominated by the major industrialized countries in Europe. However, the weight point is moving to the countries in Asia region such as Korea, Japan, and China based on relatively strong banking system and low interests rate. This study focused on the alternatives the current situation that the starter of shipping finance among three countries in Northeast Asia, South Korea is facing China's challenges. In the paper, shipping finance in Korea presented its defectives such as the limits of ship financing, lack of professional workforces, ever-present foreign exchange risks, and lack of understandings of the parties. As the countermeasures of them, it proposed establishing professional institute for ship financing, training professionals in financial industry, raising foreign credentials of won, and continuing associations between the parties. Even though we are the first Asian country introduced ship funds, the ship funds growth in China shall be under our eyes while we keep systemic networks between shipping, ship building, and ship financing.

• Information Systems Review
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• v.10 no.1
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• pp.21-45
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• 2008

Over the years a lot of organizations or enterprises are spending the majority of their IT budgets on IT resources procurement and maintenance. IT resources are typically duplicated in each Region, Division, and/or Business Unit. The biggest sources of cost savings come directly from the reduction in maintenance cost and the elimination of duplicated resources. Global corporations are investing heavily in shared services implementations in order to stay competitive in an industry environment. A number of financial services firms have turned to IT shared services to reduce the level of IT asset and infrastructure redundancies. Recently, Korean financial services industry is moving to diversification(bank, securities, insurance, etc.) and consolidation(M&A, strategic alliance, etc.), and wants the elimination of duplicated IT resources. This research is intended to find out and demonstrate the factors having a significant effect on adoption of IT shared services center in finance services industry.