• KSII Transactions on Internet and Information Systems (TIIS)
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• v.14 no.3
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• pp.1280-1300
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• 2020

In the modern financial sector, interest in providing financial services that employ blockchain technology has increased. Blockchain technology is efficient and can operate without a trusted party to store all transaction information; additionally, it provides transparency and prevents the tampering of transaction information. However, new security threats can occur because blockchain technology shares all the transaction information. Furthermore, studies have reported that the private keys of users who use the same signature value two or more times can be recovered. Because private keys of blockchain identify users, private key leaks can result in attackers stealing the ownership rights to users' property. Therefore, as more financial services use blockchain technology, actions to counteract the threat of private key recovery must be continually investigated. Private key recovery studies are presented here. Based on these studies, duplicated signatures generated by blockchain users are defined. Additionally, scenarios that generate and use duplicated signatures are applied in an actual bitcoin environment to demonstrate that actual bitcoin users' private keys can be recovered.

• The Journal of Society for e-Business Studies
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• v.23 no.1
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• pp.1-22
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• 2018

The value chain has been utilized as a strategic tool to improve competitive advantage, mainly at the enterprise level and at the industrial level. However, in order to conduct value chain analysis at the enterprise level, the client companies of the parent company should be classified according to whether they belong to it's value chain. The establishment of a value chain for a single company can be performed smoothly by experts, but it takes a lot of cost and time to build one which consists of multiple companies. Thus, this study proposes a model that automatically classifies the companies that form a value chain based on actual transaction data. A total of 19 transaction attribute variables were extracted from the transaction data and processed into the form of input data for machine learning method. The proposed model was constructed using the Random Forest algorithm. The experiment was conducted on a automobile parts company. The experimental results demonstrate that the proposed model can classify the client companies of the parent company automatically with 92% of accuracy, 76% of F1-score and 94% of AUC. Also, the empirical study confirm that a few transaction attributes such as transaction concentration, transaction amount and total sales per customer are the main characteristics representing the companies that form a value chain.

• Knowledge Management Research
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• v.21 no.1
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• pp.61-78
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• 2020

Recently, in the global financial transaction field, global transactions using computer systems and server hubs between foreign exchanges beyond the one-dimensional offline transactions and two-dimensional online transactions have been actively conducted. In the previous research by Lee Hyung-wook and Lee Min-jae (2018), as the globalization has accelerated following the development of digital technology and the expansion of ubiquitous communication network, the role of companies, the attribute of economic value creation and economic structure are being reorganized. It is said that O2O (Online to Offline) transactions are increasing due to the development. As a result, a new financial transaction paradigm is emerging that solves the inconveniences of existing financial services and enhances speed and convenience. Considering the global network trend and the rapidly developing and evolving digital bank environment, the necessity of utilizing the business platform model is emerging. However, despite this necessity, there are very limited cases in which such an attempt has been applied in practice. Accordingly, this study seeks to explore the business platform of the new financial transaction system. Specifically, the case study systematically examines the actual implementation of a unique network connection model with Koscom's global investment bank, which is currently in charge of the domestic financial transaction system, and improves ICT innovation performance and process through this. I would like to suggest a solution. In particular, this study analyzed a variety of business model construction and use cases by pursuing a platform connection with digital banks, which has recently been increasingly in demand. Therefore, this study intends to pursue the original and long-term profitability of the company by utilizing ICT innovation and platform business model, and also analyzes the convenience and excellence of trading for institutional and individual investors using the platform of digital bank. The implications of this study are significant in that it explores and explores the actual cases of ICT innovation and additional digital bank platform-connected business models based on this, and suggests a unique and preemptive business strategy of the company in the future.

• Korean Journal of Construction Engineering and Management
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• v.20 no.5
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• pp.115-124
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• 2019

The purpose of this study is to analyze the housing price variation within the redevelopment project district, affected by the characteristics of project and implementation stage. This study implemented the hedonic price model employing the actual transaction price with 24 dependent variables from 2006 to 2016 inside 19 redevelopment districts in Seoul. Research finding indicates that the larger ratio of the number of tenants and general distribution, the smaller ratio of rented households and the more positive effect of housing price. It is noteworthy that this study demonstrated the actual transaction price of houses located within the project districts by implementation stage. This study is expected to help the policy makers, the developers and the investors make more reliable decisions on the feasibility study related to the redevelopment project.

• Journal of the Korea Society of Computer and Information
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• v.29 no.7
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• pp.169-179
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• 2024

Currently, information technologies such as blockchain and metaverse are being innovatively developed in Korea and around the world. The government has defined the innovation of these cyber-related technologies as the fourth industrial revolution and presented the Digital New Deal as an important policy of the Korean version of the New Deal, and is implementing various policies and systems related to it. This situation is expected to affect the development of the real estate registration system in Korea. Moreover, as the Supreme Court is currently promoting the transition to a future registration system, it is necessary to examine whether blockchain technology, which allows parties to exchange value without a third party guaranteeing the transaction, can be used in the real estate registration system. In order to secure the credibility of the real estate registration as electronic information under the registration system that introduces electronic registration and blockchain system, the transparency of transaction identification and real estate registration details should also be recorded using the blockchain system as a way to prevent such crimes and legal disputes. As a solution, it is worth considering how to improve the reliability of transaction identification, recognize the actual examination rights of the registrar in the foundation system of the real estate register, and increase public trust by going through the notarization stage when recording rights such as real rights, and consider how to introduce a blockchain system at this stage to ensure integrity and reliability. In the stage before the current real estate registration and study system is converted to a blockchain system, the clarity, transparency, and consistency of the real estate registration entries with the actual real estate must be established so that the real estate study can finally be recognized as authoritative, thereby ensuring the trust of the transaction parties to the real estate study system that has adopted the blockchain system in the future, and bringing us closer to the goal of real estate transactions in the form of smart contracts between the parties who have trusted it based on transparency and integrity of real estate study in the real estate transaction market.

• Korea Real Estate Review
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• v.28 no.4
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• pp.63-73
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• 2018

The purpose of this study is to identify the key factors affecting official land values and the appropriateness of the assessed land price, to find out what determines the real estate price and to assess the appropriateness of the valuation. This study explored whether actual transaction prices of forest land located in six Gu districts in southern and northern parts of Han river are appropriate using independent sample t-analysis and logistic regression analysis. Results showed that regional differences and shape were adequate for development restriction areas, whether biotope was designated, whether or not to be preserved, differences in pitch, and differences in use, and differences in bearing and approach. Thorough analysis of unique factors that determine forest land prices must be carried out in advance and the findings should be applied to the examination and assessment of official land values. The forest land appraisal system is closely related to the public's economic activity, thus it is necessary to apply forest land value determinants considered to be significant by market participants to the forestland appraisal system. I look forward to seeing variables related to the appropriateness of forest land transactions drawn from this study being used as indices for settlement of forest land transaction orders and market stabilization.

• Management & Information Systems Review
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• v.38 no.4
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• pp.61-78
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• 2019

When calculating gains from transfers of assets inherited or donated, the value recognized at the market price as of the date of inheritance or acquisition is recognized as the actual transaction value at the time of acquisition. However, Precedents for the appeal for review by the NTS, the request for adjudgment by the Tax Tribunal(TT) and the request of examination by the Board of Audit and Inspection of Korea(BAI) and the cases of the lawsuit have not shown a consistent results on how much such a the actual transaction value will be measured. This study investigates the operating state of the current tax appeal system using the statistical data of the TT, NTS, and BAI and cases of the lawsuit from 2008 to 2017, and suggests the Improvement of Capital Gains Tax Act on the transfer of inherited and donated property. As a result, total number of requested cases has diminished because cases of the pre-assessment review and the reconsideration appeal by the NTS have decreased steadily over the past decade, while the cases of the lawsuit and the administrative trials(the request for adjudgment by the TT, the appeal for review by the NTS, and the request of examination by the BAI) have been steadily increasing. Also This study found that more than 40% of the complainants proceeded with the cases of the lawsuit proceedings in disagreement with the disposition of tax dissatisfaction under the administrative trials. In addition, Even though the retrospective appraisal price is not recognized as the market price due to the strict interpretation of the tax regulations, it can be seen that it is interpreted as a more expanded concept in the application of the market price than the government office or the tax judge. Therefore, according to the precedents of the cases lawsuit, it is necessary to establish a regulation on the recognition of retroactive appraisal value.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.26 no.7A
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• pp.1275-1283
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• 2001

The purpose of this paper is to test whether prices of mobile communication service reflect their varying degrees of call quality, controlling for other service attributes. As, in fact, service is intangible goods difficult to measure its value, this paper makes use of econometric model, hedonic price analysis. Hedonic price analysis, has ever been applied in public or environmental economics, is employed and produces estimates of the prices (or the contributions toward the total price) for each characteristic. This paper applied hedonic technique to the value measurement of a service property for the use of Korean mobile communication. This paper uses actual transaction prices of mobile communication service to determine whether or not the market functions in pricing call quality of mobile communication service. Finally, this show that the willingness to pay of consumer increases as call quality increases and so market makes prices on call qualities. Thus, major concern in this paper is about value measurement o service quality, and also suggest of the possibility to determine call quality value (or price) of mobile communication service.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.2
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• pp.25-33
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• 2018

In the globalization and free trade era, the current account deficit problem is a common phenomenon experienced by most countries, both developing and developed countries. Also with managed floating regime of exchange rate, it becomes very important to analyze the dynamics of current account balance which determine the trade. The deficit condition has lasted for four years in Indonesia, as well the deficit value above the value of the surplus that has been experienced during the period 2005-2011. This study is firstly aim to examine the condition of the deficit which happens in the export and import, manufactured goods and oil and gas, whether related to the transaction of goods and services. We try to build a predicted model which near the actual. Then, the focuses examines an exchange rate volatility impact on current account deficit. The model used in this research is a simultaneous model of Indonesia current account deficit from 2005 to 2014. The simulation result indicated that depreciation increase surplus to current account deficit. The decrease of export manufactured goods (non oil and gas) higher than the increase of import. For the oil and gas sector, depreciation of the rupiah against the US dollar results in an increased burden of higher oil and gas imports due to import transactions.

• Journal of Venture Innovation
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• v.1 no.1
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• pp.83-98
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• 2018

This paper makes a theoretical approach to the differences between transaction tax and capital gains tax when the financial instruments are traded and imposed taxes in K-OTC market, a newly emerging off-board market. Since it is difficult to reduce risk to the level which investors would like to pursue - depending on the taxation methods of portfolio-composed financial instruments - when it comes to forming a synthetic bond to hedge risk, this paper also seeks for effective taxation methods to make this applicable. First of all, to thoroughly review the taxation balance of synthetic bonds, this paper analyzed the effects of the transaction tax and capital gains tax imposed upon synthetic bonds according to the changes in final stock price and strike price in K-OTC market, and analyzed after-tax profit differences among them depending on whether income tax deduction took place or not. As a result of the research upon the tax gap in transaction tax and capital gains tax according to the changes of final stock prices, it was shown that imposing transaction tax is more likely to be effective for some level of risk hedging with replicating portfolio considering taxation policies and financial markets, since the effect of the transaction tax has a much lower tax gap than that of capital gains tax. In addition, in relation to whether income tax deduction was permitted or not, it was proved that the effect of the transaction tax and the capital gains tax vary depending on the variation in the strike price. Above all, it was shown that if the strike price is lower than the stock price, the transaction tax will be less affected by the existence of income tax deduction than the capital gains tax, while both will be equally affected by the existence of income tax deduction if the strike price is higher than the stock price. Further study would be to demonstrate the validation of this in the K-OTC market with actual financial instruments and, also, to seek for a more systematic hedging method by using a ratio analysis approach to the calculation of the option transaction tax