• The Korean Journal of Financial Management
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• v.26 no.1
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• pp.1-29
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• 2009

As foreign investors' share holdings in Korean firms have dramatically increased since 1998 following the financial deregulation on the limit of foreign stock investment, the concern over the negative impacts the foreign investors would bring on the firms' financial policy has been growing too. Foreign investors were perceived to require the firms of excessive payments of cash dividends sometimes with threat of hostile takeover trials detering the firm from investing its cash flow in the physical facilities and RandD eroding their potential growth capabilities. We examine the impact of foreign investment on the firms' dividend policy using 234 listed firms' panel data over the sample periods of 1998 to 2005 employing various panel regression methodology. Foreign shareholders are found not to be related or even negatively related to the payout ratio(dividend/net income), but positively and statistically significantly related to the ratio of cash dividends to book of asset, negatively to the dividend yields. Considering the payout ratio is the most appropriate measure for the dividend payment, we can not support the arguments that the foreign investors' holdings have induced the excessive dividend level in Korean firms.

• Journal of Distribution Science
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• v.12 no.9
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• pp.113-123
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• 2014

Purpose - After Korea's Free Economic Zone (FEZ) system was launched in 2003, there have been many debates about upgrading it and its support systems. However, as of 2013, there were insufficient results. Further, upon the designation of the East Coast and Chungbuk as official FEZs from February 4, 2013 by the 56th the Commission, there is a concern that many people are in the area designated as FEZ 8. This study investigates Korea's new FEZ system as part of Korea's primary new economic development policy in the 21st century. Therefore, this study examines views on the weaknesses of the past ten years of FEZs so that Korea can expand its FEZ system. Research design, data, and methodology -Many countries have considered the FEZ as an economic special zone. By reviewing previous research models, this study provides an update using recent data and materials, until 2013, from the Center of Free Economic Zones. In previous studies, the lack of support systems was attributed to proposals to ensure operational autonomy and differentiation of each FEZ; however, the main cause cannot be solved through regulatory issues, as difficulties caused by the operational system are responsible for the problems. We wish to analyze the FEZ, specifically the operational system; this is the main issue of this study. Results - After the first FEZs were established, it became necessary to have basic plans, as investment results in 2013 compared to the same period this year led to lower earnings in the first half of 2014. We propose an improvement of the operational system because in the free economic zones, the operational system is the root cause of the underlying problem. The results of this research are as follows. The weak management of the FEZ system is influenced by weak investment, delayed development, foreigners' living facilities, benefits of foreign investments, the control tower's policy making decision process, quickness of the process of satisfying legal requirements, and support For the independence of FEZs. Conclusion - Local governments do not have legal rights over FEZ deregulation and investment industries. This study suggests that the local government should have more independence from the central government. Moreover, independent management committees are more effective for ensuring public rights, better employee responsibilities, and better-qualified personnel. The FEZ committee struggles to effectively manage the locations of FEZs, foreign investments, and related facilities under the control of the Ministry of Trade, Industry and Energy. Thus, the FEZ committee should be under either the Prime Minister's office or the Presidential committee, to control and effectively coordinate between the local and central governments. If the problem clearly applies to the operational system in 2013, it is necessary to provide materials and methods so that the results of the first half of 2014 can be computed despite the data limits and lack of resources, and the data can be analyzed in a more diachronic thesis.

• Current Research on Agriculture and Life Sciences
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• v.31 no.4
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• pp.286-294
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• 2013

Increasing concern for the health, well-being, and income of the people has expectedly brought continuous increase in the industrial value of medicinal plants in recent years as these are also used in foods and cosmetics. However, Korea's increased import of these products from China due to the FTA contract causes negative effects on its industrial value. In this regard, various measures for medicinal crop seed development and production, organization and expansion of circulation and forest land use deregulation are needed to promote the agricultural food industry including medicinal plants. As a measure, first, a database of medicinal plants should be built that can help to promote the national medicinal industry and the seed management system. Second, agricultural productivity should be enhanced via the development and supply of varieties of high quality medicinal plants. Third, there should be a good practice of the system maintenance for the production and supply of medicinal crop seeds. Fourth, production and distribution system of medicinal plants should be established by standardization of high quality seeds. Nowadays, the consumption pattern of medicinal crops is changing from direct ingestion to cosmetics, drugs, and food and this is expected to increase continuously. Consequently, the increased production of medicinal crops will support the development policy and the institutional improvement in response to this trend of the positive change of industrialization.

• Journal of Korean Society of Transportation
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• v.27 no.4
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• pp.195-206
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• 2009

The deregulation of aviation markets in Europe and the United Sates had led airlines to reconfigure their networks into hub-and-spoke systems. Recent trends of "Open Skies" in the Asian aviation market are also expected to prompt the reformation of airlines' networks in the region. A significant connectivity index is a crucial tool for airlines and airport authorities to estimate the degree of hub-and-spoke operations. Therefore, this paper suggests a new index, Continuous Indirect Connectivity Index (CICI), for measuring the coordination of airlines' flight schedules, applying it to the Asian, European and the American aviation markets. CICI consists of three components：(i) temporal connectivity to identify the attractiveness between connection flights, (ii) spatial connectivity to differentiate the attractiveness by de-routing distance with continuous linear function, and (iii) relative intensity to reflect the effect of direct flight frequency on transfer routes. CICI is evaluated to examine a casual relationship through regression analyses with two dependent variables of the number of transfer passengers and transfer rates. Compared with Danesi's index and Doganis' index through evaluation processes, CICI has a higher coefficient value of determination, implying that it explains the relationship between connectivity and transfer passengers more precisely.

• Molecular & Cellular Toxicology
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• v.3 no.2
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• pp.98-106
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• 2007

Genotoxic stress triggers a variety of biological responses including the transcriptional activation of genes regulating DNA repair, cell survival and cell death. In this study, we investigated to examine gene expression profiles and genotoxic response in TK6 cells treated with DNA damaging agents MNNG (N-methyl-N'-nitrosoguanidine) and hydrogen peroxide $(H_2O_2)$. We extracted total RNA in three independent experiments and hybridized cRNA probes with oligo DNA chip (Applied Biosystems Human Genome Survey Microarray). We analyzed raw signal data with R program and AVADIS software and identified a number of deregulated genes with more than 1.5 log-scale fold change and statistical significancy. We indentified 14 genes including G protein alpha 12 showing deregulation by MNNG. The deregulated genes by MNNG represent the biological pathway regarding MAP kinase signaling pathway. Hydrogen peroxide altered 188 genes including sulfiredoxins. These results show that MNNG and $H_2O_2$ have both uniquely regulated genes that provide the potential to serve as biomarkers of exposure to DNA damaging agents.

• Environmental and Resource Economics Review
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• v.16 no.2
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• pp.379-409
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• 2007

Korea's energy sector was one of policy sectors that exhibited the classical bureaucratic governance of an administrative state. Under the regime, government monopolized the policy-making process and controled the market and the civil society. It not only provided energy goods and services directly through public enterprises but also dominated the market activities through public regulations. However, during 1993~2002, stringent reformation efforts were made to transform the governance regime from the past bureaucratic model to the market model, by way of privatization of public enterprises and deregulation. The ideology behind the reformation based on the shared recognition that the market and spontaneous order thereof is the better apparatus than the government and artificial order thereof in solving social problems mote efficiently. From the year of 2003, another round of reformation efforts have been promoted to introduce the participatory governance model, through institutionalization of channels for the wider participation of civil society into the energy policy-making process. This reformation efforts respond to; first, the increasing criticism from the civil society on the closedness of energy policy process and the higher probability of policy failures thereof, and second, the recognition that the self-organizing nature of an open policy process is the better mechanism for evolutionary problem-solving.

• Journal of Energy Engineering
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• v.29 no.1
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• pp.63-74
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• 2020

The Kori-Unit 1 nuclear power plant, which is scheduled for decommissioning after permanent shutdown, is expected to generate a large amount of various types of radioactive waste during decommissioning process. For concrete radioactive waste, which is expected to occupy the most amount, it is important to analyze the current waste disposal status and legal limitations and to prepare an appropriate and efficient disposal method. Concrete radioactive waste is waste of various levels, of which the clearance level is bioshield concrete. In this paper, clearance radioactive waste safety evaluation was performed using the RESRAD code, which is a safety evaluation code, based on the activation evaluation results for the wastes with the clearance level. The clearance scenario of the target radioactive waste was selected and the individual's exposure dose was calculated at the time of clearance to determine whether the clearance criteria limit prescribed by the Nuclear Safety Act was satisfied. As a result of the evaluation, the results showed significantly lower results and satisfied the criteria value. Based on the results of this clearance safety assessment, the appropriate disposal method for bioshield concrete, which are the clearance wastes of subject of deregulation, was suggested.

• Journal of Internet Computing and Services
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• v.15 no.4
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• pp.141-152
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• 2014

According to proliferation of smartphones and extension of various services utilizing location information, markets of Location Based Service(LBS) have been activating all over the world. However, as the privacy violations of personal location information have been continuously increased, interests in the deregulation have been grown as well. While the regulations of location information can protect personal information and privacy, it causes some negative affect in terms of development of diverse services and industry activation. In particular, Korea is the only country that has applied strict restrictions of LBS by making location information related independent 'Location Information Protection Act'. As a result of this, the issues that LBS industry has no longer developed in Korea and it is necessary for us to relax the regulations have been consistently raised. Thus, this study confirmed that there was the negative(-) relationship between the regulations and the market activation of LBS by comparing and analyzing the correlation between the market growth rate of LBS and relevant regulations at home and abroad; the regulations are strengthened, restrictions in market entry and the business performance can occur. In other words, LBS business will be able to be activated if the regulations which have not directly related to the privacy have been relaxed.

• Journal of Korea Port Economic Association
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• v.28 no.1
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• pp.263-288
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• 2012

This study aims to define which factors will contribute to vitalization of Saemangeum New Port to secure international competitiveness in order to attract international shipping companies, shippers and forwarders in constructing Saemangeum New Port, and to propose subsequent implications. For research methods of the current study, a factor analysis and a decision making method of analytic hierarchy process(AHP) were used. Through precedent studies, total 11 measuring variables were selected including short entrance and exit channels, main infrastructure development project, tax cut and deregulation, and through a factor analysis, total 3 high rank evaluation factors including 'location and facilities', 'surrounding infrastructure and hydrophile property', and 'local policy and environment'. Analysis results summarizing a test of reliability of measuring variables in this study indicate that as Cronbach alpha coefficient of total 11 measuring variables were turned out to be over 0.8, it is surpassing general average 0.6, which means there is reliability.

• Spatial Information Research
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• v.21 no.6
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• pp.33-42
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• 2013

In a long-term perspective of development of spatial information industry, security regulation, such as limiting public picture resolution of aerial photographs, needs a rational improvement. However, unplanned deregulation of spatial information could lead problematic results such as national security issues because its present security management system is not established in reasonable manner. The main purpose of this research is to suggest the improvement plan of spatial information security management system to meet the reducing security regulation in accordance with changes of political and economic condition including current national spatial information security polices and spatial information industry. From an analytical standpoint, we examined the overall aspects of legal, operation management, and technical system while we maintained especially integrated perspective of spatial information security management. Followed by investigation of spatial information security issues, as well as its regulation and policies in overseas, rational improvement plan of security management is proposed in the aspects of legal, operation management, and technical system. It is also suggested the three-step improvement plan of reducing regulation of security management system.