• International conference on construction engineering and project management
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• 2015.10a
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• pp.122-126
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• 2015

Credit enhancement is absolutely essential for financing Independent Power Producer (IPP) projects in Asia particularly for countries whose sovereign credit rating is on non-investment grade and foreign investment is difficult to achieve. Due to nexus of agreements among varies parties in IPP project, it is hard to clearly visualize the roles of these agreements. Examples are: What credit enhancement factors are most influential to minimize the associated risks of IPP projects? Why are they powerful? What are their roles? Who are less powerful and what are the obstacles that causes them less powerful? A research is conducted to identify the credit enhancement factors for IPP projects in Asia. IPP professionals validated 27 out of 28 identified credit enhancement factors, and five factor groupings were made through factor analysis. Afterwards, network theory is applied to find the unanswered questions, which by graphical and mathematical representations show that the host government's credit enhancement, MDBs, ECAs and other parties' credit enhancement are prominent and of great importance to handle the associated risks of IPP projects in Asia

• Journal of the Korean Operations Research and Management Science Society
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• v.37 no.2
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• pp.17-29
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• 2012

We examine a mortgage bank's incentive distortion problem when the bank sells its existing loan through MBS(Mortgage-Backed Security), considering the mortgage market structure and varying investors' risk attitude. Main findings in our comparative statics are the followings. The bank's monitoring incentive on the loan sold is distorted downwards when the deposit interest rate is lower than the coupon rate of MBS. Credit enhancement associated with the loan sale may mitigate the incentive distortion problem. However, the downward distortion of monitoring incentive does not disappear unless the credit enhancement, a loan guarantee, is provided up to 100%. Finally as the investors' risk preference changes from risk-neutral to risk-averse type, the incentive distortion problem becomes more severe. At the end, we recommend the introduction of covered bond in order to mitigate the incentive distortion problem, which is inevitable to current pass-through MBS.

• Journal of Korean society of Dental Hygiene
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• v.9 no.2
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• pp.179-191
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• 2009

The purpose of this study was to examine the needs of dental hygiene students at a lifelong education center of a three-year-course college for a credit bank system. The subjects in this study were 200 dental hygiene students at a college located in J, which offered courses of a credit bank system. A survey was conducted from May 19 to 23, 2008, to gather data on the acquisition of a bachelor's degree and the credit bank system, and the answer sheets from 184 respondents(92%) were collected. After the collected data were analyzed with SPSS/WIN 12.0 program, the following findings were given: 1. In regard to an intention of taking a bachelor's degree, the largest number of the students investigated(74.5%) intended to do that if they had any chance. As for the reason, 55.6% wanted to get the degree in pursuit of their own personal development. 2. Concerning how to win a bachelor's degree, the largest group that accounted for 63.0% preferred the credit bank systems of college lifelong education centers. 41.8% got interested in the credit bank system mainly because their acquaintances informed them of it. It shows that colleges should reinforce publicity activities if they want to offer the credit bank system. 3. The quality of educational programs and cost had an impact on the choice of an educational institution when they planned to get a bachelor's degree from the credit bank system. Therefore excellent educational programs should be provided, and the government should provide learners with economic help and fund educational institutions. 4. As to comparison of a regular college and the credit bank system as a way to get a bachelor's degree, that was considered to be helpful for finding a job(a mean of 3.39) and for the development of sociability(3.22). That was also deemed to be of use for the improvement of practical job performance, to win public recognition and to be helpful for being well-cultivated, though not many students had those opinions. They took a different view according to academic year(p<.05). 5. Regarding the expected effects of getting a degree from the credit bank system, the greatest group expected it to step up their personal development(3.85). The second largest group expected it to boost job efficacy(3.30), and the students whose academic year was higher had a better opinion. 6. As for future directions for the credit bank system, the largest group put emphasis on the improvement of social perception through intensive P.R. and the enhancement of the qualifications of professors and lecturers(4.02). These opinions were more stressed by the juniors than by the sophomores and seniors, and academic year made a significant difference to their views(p<.05).

• Asia-Pacific Journal of Business
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• v.11 no.3
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• pp.169-184
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• 2020

Purpose - This research is intended to analyze the current status and problems of tax benefits in the R&D sector and suggest ways to improve tax credit for research and manpower development expenses when various countries fiercely develop efforts to enhance national competitiveness through increased investment in R&D Design/methodology/approach - This study will examine the current status of the tax support system for domestic and foreign R&D, and suggest improvement measures to expand research and development activities in the future. Findings - First, a plan may be considered to abolish and perpetuate the sunset deadline for tax credit for research and manpower development expenses as in the case of the United States and Japan. This perpetuation can be a proactive measure to actively support long-term R & D investment in companies facing economic decisions under uncertainty. Second, it should be revised to raise the tax credit rate of large corporations, which are shrinking every year, compared to SMEs, so that both large corporations and SMEs can improve their international competitiveness and secure excellent technologies through R & D. Finally, the target technologies for each new growth engine and source technology should be expanded to various fields, including national cybersecurity enhancement technology, aviation engine technology, carbon emission and global cooling technologies, which are areas of interest in major overseas R&D countries, to help active R&D and investment in these areas. Research implications or Originality - This study can find a contribution in comparing and analyzing the national R&D tax support system and presenting improvement measures at a time when the benefits of tax credit for research and manpower development expenses of large companies are decreasing due to frequent tax law revisions and the government's factors of increasing tax revenues. In addition, recent research and development items and research technologies of foreign countries were analyzed by Nature's top 10 major science and technology issues, and advanced technologies that should be applied to target technology areas by new growth engine and source technology were specifically investigated and presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.4
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• pp.101-112
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• 2012

Business consulting which aims at advising overall management, comparative advantage in competitive environment, administration and so forth is deemed to be significant so that a credit union may flexibly respond to rapid and complicated financial environment. Accordingly, business consulting has been initiated and implemented in credit union since 2002, which seemingly leads to positive outcome to enhance its competitiveness. However, very few research exists which analyze the credit union's competitiveness and business performance after the business consulting. Thus, the research intends to verify how consulting influences on management performance by its various factors. With the above studies in mind, hypothesis is formed that the characteristics of a consulting comsumer and the characteristics of supplier will give a meaningful impact on management performance. The test shows the result as followings: Firstly, a primary credit union's trust and NACUFOK's expertise demonstrate that they are closely relevant to financial and non financial management performance. Secondly, support and willingness to apply states that they influences on non financial performance, while no direct impact is found to financial performance. Thirdly, NACUFOK's capability is rarely interrelated to financial and non financial performance. The present study implies that the credit union as a consulting beneficiary should participate in the consulting, accept the result, and make effort to solve the management problems. In addition, NACUFOK as a consulting supplier should initiate the organization in exclusive charge, perform the professional group, and foster the professional consultant for the development of consulting method, the improvement of consulting process, and the specialization of consultant including the enhancement of core competencies. When these perspectives are sufficient, it will be connected to the management outcomes, further, it will be boosted up the competitiveness of the Credit Union. Hopefully the present study helps to motivate the consulting of primary credit union, boost up the effectiveness of consulting, further, providing the perspective on consulting the credit union. And these may result in the indication of consulting development direction and the competitiveness of Credit Union.

• Journal of Environmental Policy
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• v.9 no.4
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• pp.77-102
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• 2010

The purpose of this paper is to analyze the Japanese emission trading system and climate change policy thereby contributing to the instituting of similar systems that will be viable for the Korean context. In applying such analyses, it is important to include a careful consideration of cost sharing between stakeholders and firms, an enhancement of the trust worthiness of data concerning greenhouse gases, and an examination of related infrastructure such as emissions authentication agencies and their development. Moreover, it is important to minimize the outflow of domestic resources such as offset credit, green electricity certification system, and ecopoint, making compatible economic growth and carbon reduction thereby encouraging the production and dissemination of 'Environmental Value' as well as connecting 'Environmental Value' to a emission trading system.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.20 no.3
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• pp.9-21
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• 2010

Recently, famous online shopping websites were hit by hacking attack, and many users' personal information such as ID, password, account number, personal number, credit card number etc. were compromised. Hackers are continuing to attack online shopping websites, and the number of victims of these hacking is increasing. Especially, the exposure of credit card numbers is dangerous, because hackers maliciously use disclosed card numbers to gain money. In 2007 Financial Cryptography Conference, Ian Molly et al. firstly proposed dynamic card number generator, but it doesn't meet reuse resistant. In this paper, we analyzed security weaknesses of Ian Molly's scheme, and we proposed a new one-time virtual card number generator using a mobile device which meets security requirements of one-time virtual card numbers. Then, we propose one-time credit card number generation and transaction protocol using Integrated Authentication Center for user convenience and security enhancement.

• Journal of Distribution Science
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• v.13 no.1
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• pp.83-91
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• 2015

Purpose - Despite the structural irrationality of multi-level transportation and the oil price rise, the domestic freight transportation market continues to grow, mirroring the rise in e-commerce and resultant increase in courier services and freight volumes. Several studies on courier services have been conducted. However, few studies or statistics have been published regarding regular freight services although they have played a role in the freight service market. The present study identifies the characteristics of regular freight service users to seek competitiveness enhancement measures specific to regular freight services. Research design, data, and methodology - IPA is a comparative analysis of the relative importance of and satisfaction with each attribute simultaneously. This study used IPA because it facilitates the process of analyzing importance and performance, deriving implications and a visual understanding of results. To enhance the competitiveness of regular freight services, this study surveyed its current users regarding the importance of the regular freight service factors. A total of 200 copies of a questionnaire were circulated and 190 copies were returned. In addition to demographics, respondents answered questions about the importance of and satisfaction with services on a 5-point Likert scale. Excluding 3 inappropriate copies, 187 out of 190 copies were analyzed. PASW Statistics 18 was used for statistical analysis. A total of 20 question items were selected for the service factors presented in the questionnaire based on the 1st pilot survey and previous studies. Results - According to the IPA performed to compare the importance of and satisfaction with service factors, both importance and satisfaction are high in the 1st quadrant, which involves the economic advantage of using regular freight services, quick arrival at destinations, weight freight handling, and less time constraints on freight receipt/dispatch. This area requires continuous management. Satisfaction is higher than importance in the 2nd quadrant, which involves the adequacy of freight, cost savings over ordinary courier services, notification on freight arrival, and freight tracking information. This area requires intensive investment and management. Satisfaction is lower than importance in the 3rd quadrant, involving the credit card payment system, courier delivery service, distance to freight handling sites, easy access to freight handling sites, and prompt problem solving. This area requires further intensive management. Both importance and satisfaction are low in the 4th quadrant, involving the availability of collection service, storage space at freight handling sites, kindness of collection/delivery staff, kindness of outlet staff, and easy delivery checks. This area is a set of variables should be excluded from priority control targets. Conclusions - Based on the IPA, service factors that need priority controls because of high importance and low satisfaction include the credit card payment system, delivery service, distance to freight handling sites, easy access to freight handling sites, and prompt problem solving. The findings need to be applied to future marketing strategies for regular freight services and for developing competitiveness enhancement programs.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.12
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• pp.65-84
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• 1999

During the past few decades, we have witnessed three approaches to overcome the legal disparities between trading countries: - determining the individual governing law in accordance with the conflict of laws principle; - unifying and harmonizing private international law into uniform rules and substantive laws under the auspices of ICC, UNCITRAL, UNIDROIT and various NGOs ; and - drafting model laws like the UNCITRAL Model Law on Electronic Commerce and promoting member countries to enact them. Against this backdrop, the United Nations Convention on Contracts for the International Sale of Goods (CISG) and the process by which it was adopted, established the benchmark for the unification of commercial law. The CISG, completed in 1980, merged civil and common law concepts and came into force in 1988 after a certain number of countries endorsed the treaty. Besides the CISG, the U.N. Limitations Convention and the UNIDROIT Principles of International Commercial Law, to name a few, have attempted to set cross-border legal norms and standards in the international business transactions. However, since the advent of computer-based commerce, there have emerged all-out efforts to establish uniform rules before national legal systems have been developed. As a consequence, the Model Law on Electronic Commerce has become a specimen legislation covering functional equivalents of paper-based writing and signature. For the credit enhancement exemplified by the Uniform Rules for Demand Guarantees (ICC Publication No.458), the UNCITRAL prepared the U.N. Convention on Independent Guarantees and Stand-by Letters of Credit, which was adopted by the U.N. General Assembly in 1995 but remains still not effective as only two countries have ratified this treaty so far. In this connection, two draft conventions underway at UNIDROIT and UNCITRAL deserve our attention as the probability of unification in the Korean Peninsula is mounting. They are to create security interests for commercial finance in moveable equipment and accounts receivable. The UCC-type security rights are regarded to be useful to enable the North Koreans with limited properties to borrow from the banks.

• Journal of Korean Society of Forest Science
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• v.98 no.3
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• pp.263-271
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• 2009

This study aims to identify negotiation alternatives related to Post-2012 reducing emissions from deforestation (RED) and enhancement of forest carbon stock (EFCS) activities. It also aims to recommend a negotiation strategy considering environmental integrity and national interest on the basis of estimating reduction potentials of each alternative on the assumption that tradable carbon credits play an important role as positive incentives. In order to estimate greenhouse gas (GHG) reduction potentials and income potential from RED and EFCS activities, 99 countries were selected by the Global Forest Resources Assessment of the Food and Agriculture Organization of the United Nations. A 'baseline and credit' method was applied to estimate RED activities. Gross-net and net-net methods were applied for EFCS activities. According to the results, Brazil, Indonesia, and the Democratic Republic of Congo have more potential to get positive incentives through RED, while China, Chile, and the Republic of Korea have more potential to get positive incentives through EFCS. This study suggests including both RED and EFCS activities in the boundary of policy approaches and endowment of positive incentives to consider GHG reduction potentials in the global scale and equity among developing countries. Making a discount rate application of forest management activities can be also recommended to factor out the effects of human-induced activities by EFCS activities.