• The Korean Journal of Financial Management
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• v.26 no.1
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• pp.95-125
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• 2009

This paper examines the disciplinary effect of deposits using the semiannual accounting data of mutual savings banks(henceforth 'MSBs') in Korea for the period of 2003 through 2007. I find overall strong evidence in favor of the existence of market discipline in the industry. MSBs with higher BIS ratio and lower NPL ratio turn out to have higher increase rate of deposits than MSBs with lower such ratios. The coefficient of NPL ratio becomes greater with time, suggesting that the effect is cumulative. It turns out that depositors respond more sensitively to NPL ratio than BIS ratio in a period of MSB failure. On the other hand, MSBs turn out to act very positively responding to the depositors' discipline. They increase BIS ratio or decrease NPL ratio following the previous decrease in deposits. Government authorities need to make more efforts to develop a suitable incentive system (e.g. penalties on a false disclosure) to improve the efficiency of disclosure by MSBs. Moreover, they need to acknowledge the importance of NPL ratio as a market disciplinary tool which has been becoming more important, especially in times of MSB failure.

• KDI Journal of Economic Policy
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• v.14 no.2
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• pp.3-27
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• 1992

In 1988, the government provided to the low income people 34.1% of the stocks of Pohang Iron & Steel Company through the People's Share Program of Privatization for the first time, and then in 1989 21% of the share of the Korea Electric Power Corporation were also provided to the low income classes through the same way. The purpose of the People's Share Program was known to be to support the low income classes through participating the profit of public enterprises, and also to expand the capital market through the diversification of stock holding structure. Initially, the government planned that the government share of enterprises such as the Citizens National Bank, the Korea Telecommunication Authority would be sold to the low income classes through the People's Share Program step by step. The income support policy, however, was no longer driven after 1989 when the overall stock prices started to decline. In this paper we tried to measure the effect of the privatization scheme of the public enterprises through the People's Share Program. The problems of the People's Share Program of the Pohang Iron & Steel Commpany and the Korea Electric Power Corperation were also identified. Several implications of the privatization scheme of the public enterprise through the People's Share Program by stages were found. The People's Share Program was found to be a non-stable policy measure for the income support of low income classes. The efficiency impact of the privatization through the People's Share Program was found to be non-significant.

• Ecology and Resilient Infrastructure
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• v.2 no.2
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• pp.167-176
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• 2015

The water quality of the Gulpo Stream flowing through Incheon, Bucheon, Seoul, and Kimpo is getting worse due to a slow flow rate and bank constructions by stream channelization as well as an inflow of pollutants from living-sewages and factory-sewages. Besides, a dry stream phenomenon caused by a lack of maintenance water upstream makes a self-purification system worse, and the water quality of the Gulpo Stream is currently at its lowest level. The accumulated sludge of the streambed is mostly formed by the deposition of particle pollutants due to the slow flow rate and an artificially straightened stream channel. This accumulated sludge adsorbs a great quantity of organic materials and heavy metals. Because of the internal contamination possibility by a re-gushing, even after the pollution source is removed, it can cause future water pollution. Without a total examination as previously recommended, it is considered difficult to accomplish practical efficiency. In conclusion, the management of periodic sediment management such as dredging would be necessary in the Gulpo Stream because sediment could be an internal pollution source of stream water under anaerobic conditions.

• Proceedings of the Korea Water Resources Association Conference
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• 2019.05a
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• pp.176-176
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• 2019

Thailand had issued a national strategic development master plan with issues related to water resources and water security in the entire water management. Water resources are an important factor of living and development of the country's socio-economy to be stable, prosperous and sustainable. Therefore, water management in both multidimensional and multi-sectoral systems is important and will supports socio-economic and environmental development. The direction of national development in accordance with the national strategic framework for 20 years that requires the country to level up security level in terms of water, energy and food. To response to the proposed goals, there is a subplan to increase water productivity of the entire water system for economical development use by evaluating use value and to create more value added from water use to meet international standard level. This study aims to evaluate the water productivity of Thailand in each basin and all sectors such as agricultural sector, service and industrial sectors by using the water use data from water account analysis and GDP data from NESDB during the past 10 years (1996-2015). The comparison of water productivity with other countries will also be conducted and in addition, the measures to improve water productivity in next 20 years will be explored to response to the National Strategic Master Plan goals. Water productivity is defined as output per unit of water depleted. The simplest way to compare water productivity across different enterprises is in monetary terms. World Bank presents water productivity as an indication of the efficiency by which each country uses its water resources. There are two data sets used for water productivity analyses, i.e., the first is water use data at end users and the second is Gross Domestic Product. The water use at end users are estimated by water account method based on the System of Environmental-Economic Accounting for Water (SEEA-Water) concept of United Nations. The water account shows the analyses of the water balance between the use and supply of each water resource in physical terms. The water supply and use linkage in the water account analyses separated into each phases, i.e., water sources, water managers, water service providers, water user at end user under water regulators of all kinds of water use activities such as household, industrial, agricultural, tourism, hydropower, and ecological conservation uses. The Gross Domestic Product (GDP), a well- known measuring method of the national economic growth is not actually a comprehensive approach to describe all aspects of national economic status, since GDP does not take into account the costs of the negative impacts to natural resources that result from the overexploitation of development projects, however, at present, integrating the environment with the economy of a country to measure its economic growth with GDP is acceptable worldwide. The study results will show the water use at each basin, use types at end users, water productivity in each sector from 1996-2015 compared with other countries, Besides the productivity improvement measures will be explored and proposed for the National Strategic Master Plan.

• Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology
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• v.9 no.6
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• pp.773-782
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• 2019

Basel III (Third Basel Accord or Basel Standards) is a global, voluntary regulatory framework on bank capital adequacy, stress testing, and market liquidity risk. Basel III regulatory ratios include capital adequacy, asset soundness, and liquidity. The capital adequacy variables include BIS capital adequacy ratio, BIS tier 1 capital ratio, and tangible common equity ratio. The asset soundness variables include non-performing loan ratio and non-performing loan coverage ratio. The liquidity regulation variables include KRW liquidity coverage ratio and foreign currency liquidity coverage ratio. This study aims to investigate how capital adequacy standard affects efficiency of internet primary banks. As a result of this study, BIS capital adequacy ratio of domestic internet primary banks is lower than that of commercial banks. In order to maintain sustainable operation considering capital adequacy regulations, it is necessary to expand additional capital. In addition, the delinquency rate and non-performing loan ratio of domestic internet primary banks is gradually increasing due to the maturity of high-yield loans in 2019.

• Journal of Korea Technology Innovation Society
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• v.21 no.4
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• pp.1296-1312
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• 2018

The wave of the Fourth Industrial Revolution was spreaded in Moon Jae-in Government. The efficiency of the R&D budget of government began to pay attention, the role of the National Science & Technology Information Service (NTIS) which provides all national R&D information in real time World's first R&D information portal has been emphasized. NTIS provides information on national R&D projects with their participating researchers, outcomes, and facilities & equipment through of information from each ministry and institution. NTIS supports to build science and technology policies, to enable transparent and efficient management of national R&D projects and to promote joint utilization of the R&D data among researchers and industrial utilization of the R&D data. NTIS provides since 2005. In this paper, I have analyzed the economic ripple effect of NTIS using the Input-Output model technique based on the input-output tables published by the Bank of Korea. When I set the NTIS R&D budget (about 120M$ for the last 13 years) as input coefficients, the effect on production inducement, value added inducement and employment inducement was analyzed by 211M$, 100M$ and 1,882 respectively.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.3
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• pp.252-260
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• 2021

For frailty management, the importance of resistance exercise has been emphasized, and various devices have been developed. Recently, digital weight control technology that converts electromagnetic resistance to a digital weight is attracting attention, but there are no reports confirming the effectiveness and safety of the device for seniors in Korea. This study conducted a biomechanic-based ergonomic analysis of an elderly-friendly exercise device utilized in digital load control technology to suggest a direction for development. Twenty seniors (age: 62.40 ± 2.09 years) were included. The load of the device was classified into three levels, and the muscle activity and heart rate were assessed during three experimental motions. A questionnaire based on the International Organization for Standardization 9241-11 was adopted to evaluate the stability, operationality, efficiency, and satisfaction with the software and device. The program could be divided into three exercise intensities that can be utilized in the field depending on whether the exercise load, muscle activity, and heart rate were consistent. The monitor size needed to be enlarged to make the menu Korean, reduce the device size, and minimize noise. Considering these findings, the development of an advanced age-friendly exercise device by improving the size, display, and noise is suggested.

• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.89-119
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• 1992

This paper purports to analyze the economic rationale of compensating balance requirements and its impact on money supply. This practice has recently been severely criticized for artificially increasing the money supply and, therefore, limiting the nation's aggregate lending policy under the tight constraint of the given money supply target. A review of the existing literature implies that compensating balance requirements is a banking practice which leads to corrections in the distortion of financial resource allocation due to the imperfection of financial market stemming from asymmetric information and/or financial regulations on deposit and lending rates. Therefore, the economic rationale of this practice is deemed to improve the efficiency of financial resource allocation. On the other hand, the macroeconomic impact of compensating balance requirements on the money supply depends on the impact on the money multiplier, which in turn depends on the desired ratio of deposit that people wish to maintain on the money borrowed from the banking system, and on the desired reserve ratio that the banking system would like to hold for deposit withdrawal. If the compensating balance requirements could increase the desired ratio of deposit to borrowing (bank lending), it will increase the available amount of total reserve within the banking system and, in turn, the money multiplier. However, this channel has not been fully analyzed in the literature, and the direction of the effect is ambiguous. If the practice could reduce the turn-over rate of deposit and, thereby, reduce the desired reserve ratio of the banking system, then it will also increase the money multiplier. While this channel operates unambiguously toward increasing the money multiplier, this effect will be limited by the extent that the banking system holds the excess reserve over the required reserve because the excess reserve will set the maximum amount for the desired reserve to fall. This paper tries to determine the effect on the money supply by empirically estimating the multiplier and the desired ratio of deposit to lending equations as functions of the ratio of compensating balance to the related lending, which is not observable and is estimated for the regression purpose. The results suggest that the effect of compensating balance requirements on the money supply in Korea does not exist or is very tenuous even if it could operate. Therefore, this paper concludes that the well publicized policy of cross cancelling the compensating balance and the related lending will not be effective at controlling the money supply and increasing the amount of loans without expanding the money supply.

• The Journal of Engineering Geology
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• v.28 no.1
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• pp.101-115
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• 2018

This study was carried out to evaluate the effects of various filter conditions on unconfined aquifer (alluvial aquifer). We made model test device which has filter layer, pumping well and observation well which consist of sand layer and gravel layer to test. Step drawdown test and long term pumping tests were carried out using the device. The permeability characteristics of each test group were confirmed and the optimal yield was calculated. As a result of comparing the optimal yield of double filter and single filter in sand, dual-filter SD-300 was valued at 216.8 % higher final optimal yield than single-filter SS-300. Comparing the dual filter SD-300 and the single filter SS-100 with a thin filter layer, dual-filter SD-300 was valued at 709.2% higher final optimal yield than single-filter SS-300. As a result of analysis of optimal yield change over time, It was confirmed that the ratio of optimal yield of single filter and dual filter increase over time. In order to evaluate the long-term change in water intake efficiency, we considered the point at which the initial optimal yield was reduced by 50%. The dual filter SD-300 is about 351.1% higher than SS-300, which is the same thickness filter, and about 579.0% higher than SS-100. From these results, Assuming that the point at which the initial quantity of water intake is reduced to 50% is the well life, double filters are expected to increase their lifespan by about 3.5 times over single filters of the same thickness and by about 5.8 times over typical single filter. These results can be used to design wells to river bank filtration or filtered seawater. In addition, it is possible to clarify the effect of the double filter through the comparison with the future field test results.

• The Korean Journal of Financial Management
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• v.22 no.1
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• pp.71-91
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• 2005

The object or this paper is to analyze the rollover effect on KOSPI 200 index option prices. Especially we analyze the implied volatilities of the options that became the near maturity options as the old one expired. For this analysis, a panel data of KOSPI 200 Index Option Prices from year 1999 to year 2001 were used, and following results were obtained. First, after controlling for the underlying index returns, strike prices and other pricing factors, the call option prices tend to decrease while the put option prices tend to increase during the week of expiry. Second, if one concentrates on the daily price changes, call option prices tend to go up on Thursday (as the old options expire), and then experience a price decrease on the following day, while the reverse is true for the put options. These results imply that the option prices are affected by some of the market micro-structure effects such as whether the option is the near maturity option. We conjecture that the reason for this is related to the undervaluation of KOSPI 200 futures. The results from this paper have implications on the timing of option trades. If one wants to buy put options, and/or sell call options, he has better off by executing his intended trades before the old options expire. On the other hand, if one wants to buy call options, and/or sell put options, hi has better off by executing his intended trades after the expiry.