• Journal of Families and Better Life
• /
• v.14 no.3
• /
• pp.1-20
• /
• 1996

The purposes of this study are to investigate the living environments, focused on economic and housing environments, of the elderly households in Chungbuk and to provide for the suggestions from the perspective of the well-being of the elderly. The results are as follows: for the economic environment, 70% of the elderly households receive the economic help from children, but the amount of the help is not much. Less than 20% of the households receive the pension and public assistance. Most elderly households had more assets than debt. The households tend to spend more for the necessties than for the non-necessities. The higher the income, the more the assets and the higher the consumption expenditures the higher is the life satisfaction. Therefore it is necessary to provide the elderly with opportunities to increase their income. For the housing environment, most elderly live in their own detached house with average size of 23 pyung. And there is 1.6 households per house. The condition of housing facilities is poor. The elderly prefer staying in the same place to moving, and invest little for their housing even though being able to afford to do so. The housing satisfaction, which is significantly influenced by the ownership the size the quality change in moving and the housing facilities, is correlated with the satisfaction of their condition as elderly households and their living satisfaction. Therefore, thoughtful policy is required to improve the standard of housing condition for the elderly households.

• Journal of Environmental Science International
• /
• v.10 no.2
• /
• pp.91-97
• /
• 2001

A macroeconomic minimodel was simulated to analyze the effect of global exchange on the Korea\\`s economy. The simulation results illustrate some of the consequences of public policy and some insight into current world problems. All computer simulation runs made under various conditions suggest that the Korea\\`s system in the near future may be strongly influenced by the favorable availability of outside resources, while the national power and assets may be declined by indigenous environmental stock depletion. The borrowed capital allows the temporary money stock to increase and the national assets to grow faster and a little higher, as using up the environmental resources more quickly. Later, when the debt is paid off, the foreign exchange holdings may not go so high. For the environmentally sound and sustainable development, over 75% of total economic production should be invested to the natural resource management. Therefore, the economic structure of Korea should be transferred from the present industrial structure to social-economic structure based on ecological-recycling concept.

• East Asian Economic Review
• /
• v.24 no.1
• /
• pp.89-124
• /
• 2020

Even with the sizable Foreign Exchange (FX) holdings and good credit ratings of its top assets, Asia remains vulnerable to various shocks. This paper highlights the limited cross-border asset pledgeability as a significant factor for the lingering vulnerability in Asia. The dichotomy in asset holdings between pledgeable FX and non-pledgeable domestic assets in major economies in Asia has been the source of increasing stabilization costs as well as weakened market momentum in the region. Specifically, the peculiar feature of asset holdings in Asia reflects seriously deficient cross-border asset pledgeability that is left unaddressed. Asset pledgeability contributes toward financial stability via three channels: 1) capital market development by recognizing the role of collateral, 2) increased shock absorption capacity via collateral management, 3) and the newly activated safe asset provision. Therefore, it is crucial to go beyond the usual market development strategy and expand the overall asset pledgeability in the region that has remained unduly depressed.

• Economic Analysis
• /
• v.27 no.2
• /
• pp.71-123
• /
• 2021

In this study, we present a methodology and model to estimate land prices and the value of land assets in North Korea in the absence of any data about land characteristics from North Korean authorities. Using this framework, we experimentally make market price-based estimates for land assets across the entire urban area of North Korea. First, we estimate the determinants of land prices in South Korea using data on market prices of land from the late 1970s, when it was estimated that the income level gap between South Korea and North Korea wasn't relatively large, and from the early 1980s, when urbanization levels in both of them were similar. Second, we calculate land prices and their relative ratios for each city and urban area in North Korea around 2015 by substituting proxy variables of determinants of land prices derived through a geographic information analysis of North Korea into the function of land prices that we have already estimated. Finally, we estimate the value of land assets in urban areas across North Korea by combining the ratio of housing transaction prices surveyed in several cities in North Korea with the relative prices estimated in this research. As a result, land prices in urban areas in North Korea, looking at the relative ratio of price by city, are estimated to be the highest, at 100.00, in Tongdaewon district of Pyongyang, and to be the lowest, at 1.70, in Phungso county, Ryanggang Province. Meanwhile, the value of land assets in urbanized areas was estimated at $21.6 billion in 2015, which was 1.2 to 1.3 times the GDP of North Korea that year. This ratio is similar to South Korea's in the 1978-1980 period, when the South Korean economy grew at an average rate of 6%. Considering North Korea's growth rate of about 1% in the 2013-2014 period, its ratio of land assets to GDP appears very high.

• Journal of Families and Better Life
• /
• v.14 no.3
• /
• pp.109-120
• /
• 1996

While theories of portfolio selection have been developed very little is known about how individuals actually go about constructing their asset potfolios. This study investigates empirically the characteristics of household's assets and which factor associated with risky and safe asset amount. Data used in this study consisted of 2,164 households and the statistics employed to analyze the data are univariate procedure Logit analysis and OLS. The results of this study were as follows: Among 2,164 households 505 housholds(23.3%) had risky assets. Average risky asset amount is 8,351,500 won and average safe asset amount is 7,086,900 won. Region education and occupation of household head home ownership transfer and other income and total expenditure had significant effects on either and other income and total expenditure had significant effects on either household having risky asset or safe asset. Financial income transfer and other income and total expenditure had significantly p sitive relation with the risky asset amount. Whereas age and the occupation of household head the sense of economic wellbeing earned financial tranfer and other income and total expenditure had significantly positive relation with safe asset amount.

• International Journal of Reliability and Applications
• /
• v.8 no.2
• /
• pp.183-197
• /
• 2007

There is a growing trend for asset intensive industries to outsource maintenance services of their complex assets since outsourcing through service contract reduces upfront investments in infrastructure, expertise and specialised maintenance facilities. Estimation of costs for such contracts is complex and it is important to the user and the service providers for economic variability. The service provider's profit is influenced by many factors such as the terms of the contract, reliability of asset, and the servicing strategies, costs of resources needed to carryout maintenance. There is a need to develop mathematical models for understanding future costs to build it into the contract price. Three policies for service contracts are proposed in this paper considering the concepts of outsourcing maintenance service of assets to the service providers. Conceptual models are developed for estimating servicing costs of outsourcing through service contracts by considering time dependent failure mode.

• Journal of Korean Society of Forest Science
• /
• v.96 no.6
• /
• pp.724-729
• /
• 2007

Due to the low productivity in timber harvesting, economic values of forest resources have been rarely validated in Korea. Since the Korea Forest Service provided a statistic of the timber assets for the survey of the 4th National Accounting (1998), no more statistics or measurements have been provided. Further, it becomes an issue that there is no clear standard to classify timber assets into produced or non-produced assets. In this research, we intended to provide a reasonable standard that enables one to classify timber assets either in produced or non-produced assets. For this purpose, articles in the '1993 System of National Accounts (SNA)', which presented definitions and scopes of biological assets, were scanned. The articles related to timber assets in the Korean version of SNA were compared with those in the original version of SNA that were proposed by UN. The results show that the Korean version of SNA seems to have much emphasis on natural occurrence or plantation for the classification standard, while its original version rather focus on the existence of direct control, responsibility, and management by institutional units. According to the original version of SNA, naturally occurring assets, which were basically classified into non-produced assets, were treated as being cultivated and classified into the produced asset when they (or their growth) were under the direct control, responsibility, and management of institutional units. Therefore, a guidance was presented to renew the Korean version of SNA and to innovate the classification standards for timber assets.

• Journal of the Korean Home Economics Association
• /
• v.39 no.1
• /
• pp.65-80
• /
• 2001

This study aimed to investigate the changed consciousness and expenditure on Kyong-Jo after IMF economic crisis and the some factors which have effects on the change. The expenditure on Kyong-Jo included donations and gifts associated with congratulations and condolences. The data were collected through the personal questionnaire on Cheju Island. The sample consisted of 400 married adults whose age were between 20 to 65. The independent variables were some individual characteristics, household related variables, and Kyong-Jo related variables. The dependent variables included the change in consciousness and expenditure on Kyong-Jo. The data were analyzed by methods such as frequencies, means, Multiple Regression and Logistic Regression analysis. Major results were as follows. The respondents perceived that Kyong-Jo is fundamentally a good custom to help each other when some one is in the hard time. Their perception of the expenditure on Kyong-Jo has not been changed even since IMF economic crisis. 70% of the respondents staid that there was little difference of the expenditure on Kyong-Jo before and after IMF economic crisis. This trend is in contrast to the perception and the expenditure of the people who lived in the other residences after IMF economic crisis. The factors which had significant effects on the respondent's consciousness of the expenditure on Kyong-Jo were occupation, whether owns a house or not, household income, and household assets. The change of household expenditure on Kyong-Jo was effected by the respondent's sex, occupation, household income, household assets, and social network. These results suggested that the respondents on Cheju Island more strongly hold the conservative perception to the expenditure on Kyong-Jo rather than the people in other residences.

• Journal of Arbitration Studies
• /
• v.33 no.2
• /
• pp.53-83
• /
• 2023

The investment agreement prepared at the beginning of inter-Korean economic cooperation in 2000 can be evaluated as very ineffective as a product of mutual political and diplomatic compromise rather than an effective protection for our investment assets. South Korean companies suffered a lot of losses due to the freezing of assets in the Geumgang mountain district and the closure of the Kaeseung Industrial Complex, but they did not receive practical damage relief due to institutional vulnerabilities. Currently, North Korea is under international economic sanctions of the UN Security Council, so it is true that the resumption of inter-Korean economic cooperation is far away, but North Korea's human resources and geographical location are still attractive investment destinations for us. Therefore, if strained relations between the two Koreas recover in the future and international economic sanctions on North Korea are eased, Korean companies' investment in North Korea will resume. However, the previous inter-Korean investment agreement system was a fictional systemthat was ineffective. Therefore, if these safety devices are not reorganized when economic cooperation resumes, unfair damage to Korean companies will be repeated again. The core of the improved investment guarantee system is not a bilateral system between the two Koreas, but the establishment of a multilateral system through North Korea's inclusion in the international economy. Specifically, it includes encouraging North Korea to join international agreements for the execution of arbitration decisions, securing subrogation rights through membership of international insurance groups such as MIGA, creating matching funds by international financial organizations. Through this new approach, it will be possible to improve the safety of Korean companies' investment in North Korea, and ultimately, it will be necessary to lay the foundation for mutual development through economic cooperation between the two Koreas.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.1
• /
• pp.19-27
• /
• 2020

This paper aims to empirically study the determinants of liquidity of Indian listed firms. To account for profit persistence, we apply a (pooled, fixed and random) effect models to a panel of Indian listed firms that covers the time period from 2010 to 2016. This study consists of 2154 firms operating in Indian market. Liquidity (LQD) of Indian firms is measured by liquid assets to total assets, whereas bank size, capital adequacy, profitability, leverage, and firm age are used as internal determinants. Further, economic activity, inflation rate, exchange rate, and interest rate are the external factors considered. The findings reveal that leverage, return on assets, and firm age are the essential internal determinants that impact the liquidity of Indian listed firms. Furthermore, among the internal determinants, the results indicate that firm size, leverage ratio, return on assets ratio, and firm age are found to have a significant positive association with firms' LQD, except leverage ratio and firm age has a negative relationship with firms' LQD. From this result, this article has provides helpful ideas and empirical evidence on the inner and external determinants of the companies mentioned in India is very useful to bankers, analysts, regulators, investors and other stakeholders.