• Journal of Intelligence and Information Systems
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• v.29 no.3
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• pp.419-437
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• 2023

As the number of thin filers in Korea surpasses 12 million, there is a growing interest in enhancing the accuracy of assessing their credit default risk to generate additional revenue. Specifically, researchers are actively pursuing the development of default prediction models using machine learning and deep learning algorithms, in contrast to traditional statistical default prediction methods, which struggle to capture nonlinearity. Among these efforts, Graph Neural Network (GNN) architecture is noteworthy for predicting default in situations with limited data on thin filers. This is due to their ability to incorporate network information between borrowers alongside conventional credit-related data. However, prior research employing graph neural networks has faced limitations in effectively handling diverse categorical variables present in credit information. In this study, we introduce the Transformer embedded Graph Convolutional Network (TeGCN), which aims to address these limitations and enable effective default prediction for thin filers. TeGCN combines the TabTransformer, capable of extracting contextual information from categorical variables, with the Graph Convolutional Network, which captures network information between borrowers. Our TeGCN model surpasses the baseline model's performance across both the general borrower dataset and the thin filer dataset. Specially, our model performs outstanding results in thin filer default prediction. This study achieves high default prediction accuracy by a model structure tailored to characteristics of credit information containing numerous categorical variables, especially in the context of thin filers with limited data. Our study can contribute to resolving the financial exclusion issues faced by thin filers and facilitate additional revenue within the financial industry.

• The Journal of the Korean life insurance medical association
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• v.24
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• pp.97-117
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• 2005

Internally Korean insurance market is that whole life products' growth are becoming slowdown that's why new insurance products have appeared on the market in consideration of consumer's needs recently. Externally domestic insurance market competitions has drifted from insurance industry to whole financial industry since bankasurance started. Life insurance companies should open up a new market to survive from severe competitions. Worksite marketing can be an alternative. An insurer make arrangements with an employer about an insurance terms which an insurer offers in Worksite marketing. Then eligible individuals enroll in the plans at their own discretion and pay 100 percent of the premium for coverage through payroll deductions. An employer doesn't need to pay extra money for additional benefit but can raise employee's loyalty and satisfaction of company through worksite marketing. An employee can be covered at discounted premium rate and less strict underwriting guidelines to an insurer compared to individual insurance. In developed countries specially U.S insurance market, Worksite marketing is getting very popular and growing rapidly due to the advantages. Worksite marketing has both individual insurance characters and group insurance characters. Individual insurance characters are that employees enroll in the plans at their own discretion and pay 100 percent of the premium for coverage. Group insurance characters are that actively at work and participation etc. An insurer have to reflect these two characters on Worksite marketing when an insurance company work out a plan for developing products and underwriting guidelines. When an insurer devise worksite products, one should consider participation level which means percentage of eligible employees participating. Participation is related to anti-selection. As we know underwriting is essential for every kind of insurance, especially underwriting plays major role in worksite marketing. We can see that in the below. Firstly, it has a function in calculation of premium rate. When calculate premium rate for worksite products underwriters have to estimate expected participation level and risk factors. So underwriters and acturies keep in close contact with each other. Secondly, underwriting methods are important. When an insurer underwrite worksite products, there are three kinds of underwriting methods. These are Simplified issue underwriting, Full underwriting and Guaranteed issue underwriting. Simplified issue underwriting typically requires no medical examination, but usually requires supplying satisfactory answers to one or several health and/or lifestyle questions. Full underwriting requires a complete medical history questionnaire that may further require an exam. Guaranteed issue underwriting means that coverage is issued without the employee having to provide evidence of insurability. When insurer set the GI limit are usually based on the type of industry, number of eligible employees, the average amount of coverage and participation level. In addition to insurer should have a clear definition of eligible employee on the insurance provision and application form. It will minimize possibility of trouble claims and anti-selection. An insurer also establish preexisting condition exclusion and special guidelines for late entrants. When an insurer introduce Worksite marketing to Korean insurance market, an insurer has to examine market research to analyze potential market and strategy of sales most of all. Also an insurer should review real situation of the U.S, England and Japanese market etc. There are a lot of new technologies about worksite marketing process that an insurer should learn. When an insurer consider many things which we explained it can be a real alternative.

• Journal of the Economic Geographical Society of Korea
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• v.17 no.4
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• pp.632-645
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• 2014

This paper criticized the recent Korean 'creative economy policies' focused on regional developmental implications. Even though the policies targeted to promote ICT new startups and build virtuous circle of ICT industrial ecosystem in Korea as a whole, the outside regions of the Seoul-Busan industrial axis where the bases of ICT industries are very weak would suffer from systematic exclusion in ICT investments and deepening regional disparities. Second, ICT-centered policies would selectively affect or operate commensurate with the size of regions in this low-growth, after-financial crisis age. Third, the possibilities of regional insularity and lock-in in these low levels of 'related variety' regions would worsen the industrial competitiveness. Lastly, the policies should be reoriented to fortify region-based creative economic ecosystem based upon triple helix learning region.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.2 no.2
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• pp.93-120
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• 2007

To promote the commercialization of high technology based start-up company, it is essential to activate technology trading for the Innovative Small & Medium companies which eager to acquire technology competitiveness through technology trading and facilitate financial system which provide Small & Medium companies with technology commercialization money. This study focus on enhancing credibility of technology valuation solutions through the improvement of the existing technology valuation solutions. The existing technology valuation solutions in practice have deficiency in reasonable valuation because of subjective technology factor's calculation. And the commercialization risk of high technology based start-up companies cannot be fully reflected in the existing valuation solutions. The high risk of technology commercialization acts as a hurdle in the facilitation of providing money for the start-up companies. The improved new model will have more acceptable objectivity and reasonably reflect the commercialization risk of start-up companies. The new model has two distinctive features compared to existing solutions. The new model newly adopts commercialization success factor which reflects the risk of high technology based start-up company. And the new model excludes technology factor which is controversial among interested parties. The exclusion of technology factor will improve the objectivity of technology valuation and the adoption of commercialization success factor will solicit investor and capitalist who concern the high risk of technology based start-up companies. In conclusion, the improved new model is expected to activate technology trading and facilitate the money market through which high technology based start-up companies raise commercialization money.

• The Korean Society of Law and Medicine
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• v.21 no.1
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• pp.153-185
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• 2020

In principle, even if serious consequences such as death or serious injury of a patient occur as a result of a medical accident, if the medical malpractice of a health care worker is not recognized, the health care worker is not held liable for said consequences. However, with the opening of the Korea Medical Dispute Mediation and Arbitration Agency on April 7, 2012, a system was established to compensate health care personnel for their medical malpractices only in the case of "injuries caused by medical accidents in the course of childbirth" (hereinafter referred to as "program for compensation of medical accidents"). Article 46 paragraph 1 of the current Medical Dispute Mediation Act, which is the basis of the Force Majeure Medical Accident Compensation System, stipulates that "medical accidents under delivery" claims are to be determined by the Medical Accident Compensation Review Committee are subject to the compensation project. And the details of the compensation, ratio of sharing financial resources for compensation, scope of compensation, and the guidelines and procedure for the payment of compensations are prescribed by Presidential Decree. In other words, the Presidential Decree requires the state to pay 70 percent of the compensation funds, and 30 percent of the above funds among health care providers. The Constitutional Court has decided on the 2015Hun-Ga13 that the scope of the health care institution's founders and the share of the compensation funds cannot be directly determined by the law, and that the portion delegated by the Presidential decree does not violate the Principle of Legal Protection nor Comprehensive Nondelegation Doctrine. However, this can be seen as an exclusion of accountability for force-induced delivery accidents even if there is no negligence of the medical staff. If the nature of the system is a type of social security system with a social compensatory nature, it could consider eliminating the health care innovator's cost-sharing provisions, leaving the full cost to the state. However, it is also necessary to review institutional protocols that strengthen the efforts of medical institutions in areas such as analysis of the causes of medical accidents and measures to prevent their recurrence. In addition, I think that the conclusion of the Act is in line with the purpose of the Comprehensive Wage Support Regulations that at minimum the law sets an upper limit of the compensation funds that are to be paid by health and medical institutions. Moreover, it is reasonable for the Medical Accident Compensation Review Committee to specify gestational age and weight of births, which are the criteria for compensation, under the Enforcement Decree of the Medical Dispute Mediation Act, in relation to the criteria for payment of contributions by the Medical Accident Compensation Review Committee, and to set the detailed criteria.

• Korean Journal of Social Welfare
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• v.53
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• pp.285-310
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• 2003

As National Pension Scheme for all nation complete in 1999 through expanding application in cities, the public pension including Public Occupational Pension became main axis of old-age income maintenance. After 4years since then, now, it is only half of total National Pension insured persons who have been qualified to receive pension through participate and contribution. The other half of National Pension insured is left the excluded from public pension. This paper is intended to identify scale and characteristics of the excluded from public pension and to analysis its cause, and to explore policy measures for solving the excluded's problem. for current recipients over 60 years old generation, the its excluded's scale is no less than 86% of the old over 60 years. The probability of getting in the excluded is high in case of old elderly and female for current elderly generation. For future recipients 18-59 years working generation, the its excluded's scale is no less than 61% of the 18-59 years total population. The probability of getting in the excluded is high in case of 18-29 years and female for current working generation. As logistic regression analysis determinant factor of paying or not pension contribution for future recipients, it appear that probability of getting in the excluded for current working generation is high in case of younger old, lower education attainment, irregular employee, working at agriculture forestry fishery sector, construction sector, wholesale retail trade restaurants hotels sector, financial institution and insurance real estate renting and leasing sector in comparison with manufacturing sector, occpaying at elementary occupation, professionals technicians and associate professionals, sale and service workers, plant machine operators and assemblers, legislators senior officials and managers in comparison with clerks. The Policy measures for the current recipient old generation have need to reinforce supplemental role of Senior's pension(non-contribution pension) until maturing of public pension, because of no having chance of public pension participants for them. And the Policy measures for the future recipient working generation have need to restructure social security fundamentally corresponding with social-economic change as labour market and family structure etc. The pension system has need to change from one earner one pension to one citizen one pension with citizenship rights. At this point, public pension have need to manage with combining insurance's contribution principle and citizenship principle financing by taxes. Then public pension will become substantially universal social network for old-age income maintenance and we can find real solution for the excluded from.

• 한국사회정책
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• v.25 no.3
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• pp.37-71
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• 2018

Since 2016, public and political interest on basic income has been increased beyond academic interest. The recent debate on basic income has expanded on issues regarding to the concrete implementation of basic income moving further than the debate on conception of the basic income in the abstract level. This study examines major critiques of basic income which was raised from social policy area and makes a counter-argument on these critiques. Major points summarized as follows. First, the problem of jobs and social insurance exclusion is not serious enough to call for basic income. Second, existing social security systems will be crowded out by excessive financial burden if basic income is introduced. Third, policies to cultivate citizens' capacities to cope with a technological change should be given priority over basic income. This study disputes these critiques by counter arguing four points. First, it is necessary to reconstruct welfare state based on basic income, given the labor market changes, such as long-term trend of employment change, newly emerging employment of platform companies, and inconsistency of platform labor and social insurance. Second, hypothesis of crowding-out effect on social security system is just a criticism that can be applied to the basic income initiative of the right-wing. Also, it is unable to find a logical basis or evidence of this hypothesis from the historical process of welfare state development or previous studies. Third, it is necessary to discuss how to reconfigure existing social security system and basic income which are complementary to each other and also have consistency with labor market as a configuration, not as a matter of choosing between basic income and social security system. Fourth, de-laborization does not mean a refusal to labor but a free choice, and the basic principle of social security is not needs but right. In conclusion, in order to develop more productive debate on basic income, it requires more sophisticated discussion and criticism from the point of view of the distributive justice; the debate on the sustainability of social insurance-centered welfare states; and debates on the political realization of basic income.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.6
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• pp.57-70
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• 2023

The investigation delved into 457 pieces of scholarly work, encompassing articles, published theses, and dissertations from the National Research Foundation of Korea, spanning the period of the 1997 IMF financial crisis up to 2022. The materials were sourced using terms such as 'angel investment', 'angel investor', and 'angel investment attraction'. The initial phase involved filtering out redundant entries from the preliminary collection of 267 works, leaving aside pieces that didn't pertain directly to angel investment as indicated in their abstracts. The next stage of the analysis involved a more rigorous selection process. Out of 43 papers earmarked in the preceding cut, only 32 were chosen. The criteria for this focused on the exclusion of conference presentations, articles that were either not submitted or inconclusive, and those that duplicated content under different titles. The final selection of 32 papers underwent a thorough systematic literature review. These documents, all pertinent to angel investment in South Korea, were scrutinized under five distinct categories: 1) publication year, 2) themes of research, 3) strategies employed in the studies, 4) participants involved in the research, and 5) methods of research utilized. This meticulous process illuminated the existing landscape of angel investment studies within Korea. Moreover, this study pinpointed gaps in the current body of research, offering guidance on future scholarly directions and proposing social scientific theories to further enrich the field of angel investment studies and analysis also seeks to pinpoint which areas require additional exploration to energize the field of angel investment moving forward. Through a comprehensive review of literature, this research intends to validate the establishment of future research trajectories and pinpoint areas that are currently and relatively underexplored in Korea's angel investment research stream. This study revealed that current research on domestic angel investment is concentrated on several areas: 1) the traits of angel investors, 2) the motivations behind angel investing, 3) startup ventures, 4) relevant institutions and policies, and 5) the various forms of angel investments. It was determined that there is a need to broaden the scope of research to aid in enhancing and stimulating the scale of domestic angel investing. This includes research into performance analysis of angel investments and detailed case studies in the field. Furthermore, the study emphasizes the importance of diversifying research efforts. Instead of solely focusing on specific factors like investment types, startups, accelerators, venture capital, and regulatory frameworks, there is a call for research that explores a variety of associated variables. These include aspects related to crowdfunding and return on investment in the context of angel investing, ensuring a more holistic approach to research in this domain. Specifically, there's a clear need for more detailed studies focusing on the relationships with variables that serve as dependent variables influencing the outcomes of angel investments. Moreover, it's essential to invigorate both qualitative and quantitative research that delves into the theoretical framework from multiple perspectives. This involves analyzing the structure of variables that have an impact on angel investments and the decisions surrounding these investments, thereby enriching the theoretical foundation of this field. Finally, we presented the direction of development for future research by confirming that the effect on the completeness of the business plan is high or low depending on the satisfaction of the entrepreneurs in addition to the components.