• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.8
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• pp.86-93
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• 2018

This study examines the differences in the determinants of dividend payout across advance disclosure firms and ordinary disclosure firms using firm-level data from firms listed on the Korea Exchange. Results are as follows: First, firm characteristics of advance disclosure firms significantly differ from those of ordinary disclosure firms in all variables except sales growth and operating risk variables. Second, regression results show that the determinants of dividend payout from ordinary disclosure firms are generally similar to results of previous studies. However, determinants of advance disclosure firms contain only few variables such as Tobin's Q, corporate bond yield, and operating cash flows from conventional factors. Third, logistic regression results show that factors affecting the probability of dividend payment substantially differ across advance disclosure firms and ordinary disclosure firms. These results suggest that the motivation and incentive of dividend payout from firms choosing advance disclosure are substantially and systematically different from those of ordinary disclosure firms.

• The Korean Journal of Archival Studies
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• no.68
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• pp.73-105
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• 2021

The aim of this study was to investigate the current state of operation of information disclosure system in Busan Metropolitan Police Agency and to suggest recommendations for improvement. To achieve this goal, this study quantitatively analyzed the data on information disclosure claims (2010~2020.6), appeal cases (2010~2020.6), the disclosure rate of original documents (2014~2019) and so on. Furthermore, it examined how and how much information is announced in advance through the agency's homepage and the information disclosure portal site. Results show that the agency has various problems regarding information disclosure including the high rate of transferring information to other institutions, the low disclosure rate of original documents, the high rate of information released publicly only after an administrative appeal, a small number of information announced in advance, and a not user-friendly website. To solve these problems, this study proposes providing accurate information about the scope of information the agency and other related institutions own, expanding the disclosure of original documents, discovering more information to announce in advance, and enhancing the usability of the website.

• International Commerce and Information Review
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• v.11 no.1
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• pp.309-331
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• 2009

In 25th April. 2008, the Korea legislature gave advance notice on the Revision Bill of Commercial Law in Insurance Division in partial, one of which is the principle of utmost good faith to be codified in accordance with the effectuation of the Revision Bill enforcement. For this, even though the disclosure duty is not included in the Revision Bill, it should also be discussed in relation to the principle of utmost good faith because it is based upon the principle of utmost good faith and forms a part of utmost good faith. In Marine Insurance industry in Korea, there are the sections and the clauses in relation to the English governing law included in the Policies and the Clauses used in Korea and, also, they still come into effect for the Korea Courts' judgements. So. we, Korea, should carefully pay attention to the trend of English courts' leading case, academic world and insurance industry on the disclosure duty in U.K. This study is thus based upon sections 17 and 18~20 of the Marine Insurance Act 1906 and sections 651, 652 and 655 of Commercial Law in Insurance Division, which appear throughout this work. The objective of this work is to analyse the duty of disclosure on Korean and English Insurance Laws including cases cited in this work, comparing the differences resulted from the analysis of the two countries‘laws and legal cases.

• Journal of Korean Society of Archives and Records Management
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• v.19 no.2
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• pp.77-107
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• 2019

This study aims to analyze the current state of the operation of the information disclosure system in the judiciary of Korea to identify problems and suggest ways to provide more effective and substantive requests for information disclosure in the future. To this end, we reviewed the court's information disclosure claims process from 2007 to 2017 using the data published in the judicial yearbook and the data charged to the court information disclosure system of Korea. Results showed the different processes according to the person in charge, the high withdrawal rate, the complaint response rate, and the trend of the information nonexistence as the common problems. To solve these issues, we proposed to improve the various claims system, strengthen the education of the information disclosure claimant, publish the manual, and expand the provision and original text of information in advance.

• Journal of Arbitration Studies
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• v.28 no.2
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• pp.217-248
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• 2018

This paper reviews the Supreme Court of Japan in Decision of December 12, 2017, 2016 (Kyo) 43 (2011) concerning arbitrator's duty of disclosure and reasonable investigation under the Japan Arbitration Act (Arbitration Act). The Supreme Court of Japan recently issued a precedential decision interpreting, for the first time, the arbitrator disclosure requirements of the Arbitration Act. Under Article 18(4) of the Arbitration Act, arbitrators have an ongoing obligation to disclose circumstances which may give rise to justifiable doubts as to their impartiality or independence. The Supreme Court held that Article 18(4) of the Arbitration Act - requiring arbitrators to disclose all "facts likely to give rise to doubts as to his/her impartiality or independence" - (1) is not satisfied by blanket disclosures or advance waivers of potential future conflicts, and (2) requires disclosure of facts both known to an arbitrator or "that can be normally ascertained by an investigation that is reasonably possible${\cdots}$" This new standard presents opportunities and challenges for enforcing arbitration awards in Japan, and suggests measures that both arbitrators and parties can use to protect their awards. Also, the Supreme Court's new standards for evaluating arbitrator conflict disclosures suggest some measures that both arbitrators and parties to arbitration in Japan can take to protect the enforceability of their awards. The key factual question posed by the Supreme Court's ruling was whether an arbitrator's conflicts check was reasonable. Maintaining records regarding a review of potential conflicts or any investigation provides a ready source of proof in case of a future challenge. The Supreme Court has spoken clearly that so-called advance waivers of potential conflicts are not effective under Japanese law. Instead, to the extent that potential conflicts arise during the course of arbitration, they should be specifically disclosed.

• The Korean Journal of Archival Studies
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• no.57
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• pp.35-73
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• 2018

This study aims to elucidate the implications for 20 years of the establishment of the information disclosure law by analyzing contents of the public regulations of 50 states of the United States. For the purpose, it looks at the general outline of the open meetings law of the 50 states, including the requirements and procedure of the advance notification of the meeting, and the protest procedure and penalties for the violation of the law. As a result of analysis, under the law, public meetings should announce their schedule and agenda in advance, and minutes of meetings and recording of meetings should be accessible to citizens. Furthermore, a person who violates the law for opening meetings could be fined or imprisoned. The implications for the establishment of the Open Meetings Act in Korea are as follows: First, the open meeting system starts with the appropriate period and method of advance notice of meeting holding. Second, the substantive contents of the advance notification guarantee the effectiveness of the meeting disclosure system. Third, the method and subject of advance notification should be as wide and diverse as possible. Fourth, all decisions of the meeting that violate the law are null and void. Fifth, a system should be set up so that any citizen could easily raise objections to the violation of the law. Sixth, the person who violates the law should be held responsible. Lastly, citizen access to minutes, recordings as well as comprehensive meeting minutes writing including attendees, agendas, and ballots should be guaranteed.

• The Korean Journal of Archival Studies
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• no.22
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• pp.77-114
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• 2009

The right to know is not satisfied merely by making or improving laws or systems. The right to know is a matter of culture rather than system. Nevertheless, consistent system improvement measures are required. There are many laws relating to the right to know. In particular, at the core are the Official Information Disclosure Act, the Record and Archives Management Act, and the Presidential Record Management Act. The fact that systems relating to official record management and presidential record management are related to the right to know is understood by the promotion of records and archives management reform after the year 2004, as a result of which the national archives management innovation road map was established. Reflecting the many opinions of the "Information Disclosure System Improvement Task Force" composed with participation of the government and the press after the participatory government's announcement of "Measures to Advance the Support System for News Coverage," amendments to the Information Disclosure Act have come forward with system improvement measures in connection with issues that had arisen until then. Such improvement measures have not resulted in actual improvements. This thesis proposes several system improvement measures, focusing on those that have arisen until now but have not been reflected in discussion, such as converting the concept of information non-disclosure into disclosure postponement, preparing and disclosing particular information disclosure standards, specifying personal information for non-disclosure, specifying and strictly applying any information that has not been disclosed for purposes of internal review, deleting non-disclosure items in stenographic records that do not have a reason to exist, and establishing limits and terms of non-disclosure. Of the most remarkable system improvement measures that have been made until now is our recognition that the right to know is not limited to the information disclosure system but that the "cause" of archive management should be systematic and scientific. In other words, the right to know is understood to establish not just accidential factors, such as with a whistle-blower, but the inevitable factors of systemization of production, distribution, preservation, and use of archives. Much more study should be pursued regarding disclosure of archives information. In particular, difficult issues to be resolved regarding reading records at permanent archives management institutions, such as the National Archives of Korea, or copyrights that arise in the process, require constant study from academia and relevant institutions.

• Journal of Korean Medical Science
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• v.33 no.49
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• pp.327.1-327.10
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• 2018

Background: It is difficult to decide whether to inform the child of the incurable illness. We investigated attitudes of the general population and physicians toward prognosis disclosure to children and associated factors in Korea. Methods: Physicians working in one of 13 university hospitals or the National Cancer Center and members of the general public responded to the questionnaire. The questionnaire consisted of the age appropriate for informing children about the prognosis and the reason why children should not be informed. This survey was conducted as part of research to identify perceptions of physicians and general public on the end-of-life care in Korea. Results: A total of 928 physicians and 1,241 members of the general public in Korea completed the questionnaire. Whereas 92.7% of physicians said that children should be informed of their incurable illness, only 50.7% of the general population agreed. Physicians were also more likely to think that younger children should know about their poor prognosis compared with the general population. Physicians who opposed incurable illness disclosure suggested that children might not understand the situation, whereas the general public was primarily concerned that disclosure would exacerbate the disease. Physicians who were women or religious were more likely to want to inform children of their poor prognosis. In the general population, gender, education, comorbidity, and caregiver experience were related to attitude toward poor prognosis disclosure to children. Conclusion: Our findings indicate that physicians and the general public in Korea differ in their perceptions about informing children of poor prognosis.

• East Asian Journal of Business Economics (EAJBE)
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• v.1 no.3
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• pp.55-70
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• 2013

Purpose: The article looks at the member' rights and trustees duties and determines where should the emphasis be as it often happens that these two aspects often clash. Research Design, Data and Methodology: It is determined in this article whether the trustees owe fiduciary duties to both the fund and members and further determines whether the trustees should advance the interests of the members. Results: The article further looks at the governance of the retirement funds and argues that the proper governance of these funds protects the interest of the members. The duty to disclosure of information to members is of paramount importance to ensure that members are able to make well informed decisions. Conclusion: The article considers the issues of disclosure of information from other countries, United Kingdom, United States and Malawi. It is argued in this article that trustees must be persons who are trustworthy and have the best interest of the members at heart and must therefore familiarize themselves with the laws that regulate their duties.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2013.05a
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• pp.275-278
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• 2013

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