• The Journal of the Convergence on Culture Technology
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• v.10 no.1
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• pp.369-378
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• 2024

The aim of this study is to conduct a comparative study on the sustainability of the public pension. While the mainstream view on the sustainability of the public pension presupposes financial sustainability, the original purpose of guaranteeing retirement income has been overlooked. The sustainability of the public pension needs to consider not only financial sustainability, but also various factors such as demographic structure, labor productivity, industrial structure, life cycle of working households, government spending on public pensions, economic growth, and social consensus. With this awareness of the problem, this study conducted a fuzzy set qualitative comparative study in 44 countries, including Korea. As a result of the analysis, it was found that Korea had high financial sustainability for a single year, but relatively low integration related to social consultation and public pension operation, and adequacy such as the degree of guarantee and linkage with other pension systems was also relatively low. The sustainability of the broader public pension should be emphasized not only for financial sustainability, but also for adequacy and integration.

• Journal of the Korean Academy of Child and Adolescent Psychiatry
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• v.20 no.3
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• pp.129-139
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• 2009

Objectives : This study evaluated the effectiveness of school-based mental health screening and treatment linkage programs, focusing on attention-deficit hyperactivity disorder (ADHD) and adolescent depression. Methods : All 11,158 children and adolescents aged 8-14 years in Seoul received a school-based mental health screening, consisting of the Korean versions of the ADHD rating scale and the Child Behavior Checklist (CBCL), for ADHD, and the Center for Epidemiological Studies Depression Scale (CES-DS) and the Suicidal Ideation Questionnaire-Junior (SIQ-JR), for depression. The high-risk children's and adolescents' diagnoses were confirmed using the Diagnostic Interview Schedule for Children-IV (DISC-IV). Treatment linkage programs were managed by the Seoul Metropolitan Community Mental Health Center (Program 1), the Seoul Metropolitan Office of Education (Program 2), or the Dongjak District Office of Education (Program 3). We estimated and compared the referral rates of the three programs. Results : Program 1 screened and referred 22.9% of ADHD youths to mental health services, Program 2, 68.8%, and Program 3, 40.0%. Program 1 screened and referred 22.8% of depressed youths to mental health services, Program 2, 53.8%, and Program 3, 88.9%. Key elements for successful screening and referral programs were an effective school/community mental health center/Office of Education network, the parents' financial support and perception of their child's mental health status as being problematic, and the teachers' active engagement. Conclusion : This is the first study investigating the effectiveness of school-based mental health screenings' linkage to treatment for primary and middle school students in Korea. An effective network for community mental health and improvements in parents' and teachers' perceptions regarding mental health are needed for more successful treatment linkage.

• Journal of the Korean association of regional geographers
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• v.5 no.1
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• pp.121-135
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• 1999

This study investigated the location conditions, spatial linkage structures, and firm specific problems of small firms of the Greater Cincinnati metropolitan area by sectors and by areal distribution. The major locational advantages were closeness to customers and suppliers followed by accessibility to inter-state highways. These results were supported by spatial linkage structures in which within-region linkages occupied a greater portions of linkage, showing the importance of small firms in the regional economy. The linkage patterns showed distance decay effect with high elasticity. While there were no significant differences of locational conditions and spatial linkage structures of small firms between core and peripheral area, a slight difference was identified among sectors. Chemical related manufacturing firms show different locational conditions and spatial linkage structure with weak within-local linkages. The main locational disadvantages were lack of qualified labor, undesirable neighborhood, heavy tax, and space shortage. Considering the biggest problems such as lack of qualified labor, difficulties in sales/marketing, low accessibility to financial resource, and technological inability, the inter-related cooperative business networks among firms and regional institutions, consulting companies, chamber of commerce, and universities are needed to stimulate regional economic development and survival of small firms.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.1217-1230
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• 2021

Using a multinomial logit model with the panel-data set of Vietnam manufacturing firms, this paper investigates the impacts of foreign direct investment (FDI) - small and medium enterprises (SMEs) linkages and other factors on SMEs' participation in the global value chain (GVC). We consider GVC firms are those engaging in any of the three modes including (i) using domestic inputs to export (D2E), (ii) using imported inputs to produce for the domestic market (I2P), (iii) using imported inputs to export (I2E). We discover that FDI-SME linkages statistically encourage Vietnamese SMEs to integrate into the GVC via I2P and I2E, while no statistical association between FDI-SME linkage and D2E participation is found. GVCs participation likelihood is also positively correlated with the introduction of new product introduction. The establishment of firms' production facilities in industrial zones and foreign ownership are both reported to be significantly decisive factors to SMEs' decisions on GVC participation. Besides, there is a strong association between firms' attributes, i.e. employment, capital intensity as well as financial access, and their participation in the GVC. Local governance quality (proxied by the Provincial Competitiveness Index) and the share of skilled labor at the province-level can facilitate firms' integration into GVCs, while greater market concentration may be a hurdle to such potential.

• Korean Journal of Agricultural Science
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• v.26 no.2
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• pp.77-93
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• 1999

This study is aiming at identifying the foreward and backward lingkage effects of the farm land base development project. Korean Government has continuously carried out farmland base development projets including the integrated agricultural development projects. large and medium scale irrigation projects and the comprehensive development of the four big river basin including tidal land reclamation and estuary dam construction for the all weather farming since 1962. the starting year of the five year economic development plans. Consequently the irrigation rate of paddy fields in Korea reached to 75% in 1998 and to escalate the irrigation rate, the Government had procured heavy investment fund from IBRD. IMF and OECF etc. To cope with the agricultural problems like trade liberalization in accordance with WTO policy, the government has tried to solve such problems as new farmland base development policy, preservation of the farmland and expansion of farmland to meet self-sufficiency of foods in the future. Especially, farmland base development projects have been challanged to environmental and ecological problems in evaluating economic benefits and costs where the value of non-market goods have not been included in those. Up to data, in evaluating benefits and costs of the projects, farmland base development projects have been confined to direct incremental value of farm products and it's related costs. Therefore the projects'efficiency as a decision making criteria has shown the low level of economic efficiencies. In estimating economic efficiencies including Leontiefs input-output analysis of the projects could not be founded in Korea at present. Accordingly this study is aimed at achieving and identifying the following objectives. (1) To identify the problems related to the financial supports of the Government in implementing the proposed projects. (2) To estimated backward and foreward linkage effects of the proposed project from the view point of national economy as a whole. To achieve the objectives, Hwangrak benefited area with reservoir which is located in Seosan-haemi Disticts, Chungnam Province were selected as a case study. The main results of the study are summarized as follows : a. The present value of investment and O & M cost were amounted to 3,510million won and the present value of the value added in related industries was estimated at 5.913million won for the period of economic life of 70 years. b. The total discounted value of farm products in the concerned industries derived by the project was estimated at 10,495million won and the foreward and backward linkage effects of the project were amounted to 6,760 and 5,126million won respectively. c. The total number of employment opportunities derived from the related industries for the period of project life were 3,136 man/year. d. Farmland base development projects were showed that the backward linkage effects estimated by index of the sensitivity dispersion were larger than the forward linkage effect estimated by index of the power of dispersion. On the other hand, the forward linkage effect of rice production value during project life was larger than the backward linkage effect e. The rate of creation of new job opportunity by means of implementing civil engineering works were shown high in itself rather than any other fields. and the linkage effects of production of the project investment were mainly derived from the metal and non-metal fields. f. According to the industrial linkage effect analysis, farmland base development projects were identified economically feasible from the view point of national economy as a whole even though the economic efficiencies of the project was outstandingly decreased owing to delaying construction period and increasing project costs.

• KDI Journal of Economic Policy
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• v.30 no.2
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• pp.27-59
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• 2008

This paper empirically investigates the finance-growth linkage in Korea by utilizing firm-level data of manufacturing industries before and after the 1997 financial crisis. We find that, first, an increase in external finance is associated with a faster subsequent capital accumulation of firms. However, this capital accumulation channel became relatively attenuated after the crisis. Second, the total factor productivity growth effect of external finance has been considerably weak both before and after the crisis. Third, the information production and industry restructuring effects of external finance have also remained weak after the crisis. The limited role of external finance in post-crisis Korea partially reflects sluggish corporate investment and weakening dependence of good credit firms on external finance. The evidence suggests that, in order to effectively sustain economic growth, further reform efforts may be required to strengthen resource allocation and corporate restructuring roles of financial markets and institutions.

• The Journal of Information Systems
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• v.30 no.3
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• pp.65-91
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• 2021

Purpose In this study, we investigated the impact of perceived risk and switching costs on switching intention to cloud service based on PPM (Pull-Push-Mooring) model. Design/methodology/approach We focused on revealing the switching factors of the switching intention to the cloud services. The switching factors to the cloud services were defined as perceived risk consisting of performance risk, economic risk, and security risk, and switching costs consisting of financial and learning costs. On the PPM model, we defined the pull factors consisting of perceived usefulness and perceived ease of use, and the push factor as satisfaction of the legacy system, and the mooring factor as policy supports. Findings The results of this study as follows; (1) Among the perceived risk factors, performance risk has a negative effect on the ease of use of pull factors, and finally it was found to affect the switching intention to the cloud services. Therefore, cloud service providers need to improve trust in cloud services, service timeliness, and linkage to the legacy systems. And it was found that economic risk and security risk among the perceived risk factors did not affect the switching intention to the cloud services. (2) Of the perceived risk factors, financial cost and learning cost did not affect the satisfaction of the legacy system, which is a push factor. It indicates that the respondents are positively considering switching to cloud service in the future, despite the fact that the respondents are satisfied with the use of the legacy system and are aware of the switching cost to cloud service. (3) Policy support was found to improve the switching intention to cloud services by alleviating the financial and learning costs required for cloud service switching.

• The Journal of Korea Institute of Information, Electronics, and Communication Technology
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• v.14 no.1
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• pp.70-77
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• 2021

This paper was reclassified industries related to the 4th industrial revolution into manufacturing, information and communication services, finance and insurance services, and science and technology services by comparing the industry association table with the Korean standard industry classification. And the economic ripple effect was analyzed by exogenizing the four sectors of the industry using a demand-driven model. The wholesale and retail and product brokerage services were measured to be large in the manufacturing, information communication services, and science technology service sector according as a result of analysis of the production inducement effect, added value inducement effect, and employment inducement effect. And the financial and insurance services were analyzed to be large in the financial and insurance services sector. The import inducement effect was analyzed to be the largest in all sectors of the fourth industry. As a result of the forward and backward linkage effect, it was confirmed that the manufacturing and the information communication services sector were the intermediate primary production type sensitive to economic fluctuations. Also it was confirmed that the financial and insurance services and the science technology services sector were the final primary production type.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.7
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• pp.174-182
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• 2018

Given the ongoing debate in many aspects of finance, more attention may need to focus on corporate R&D expenditures. This study empirically tests financial determinants of R&D expenditures for NYSE-listed and KOSPI-listed firms. Three major hypotheses were postulated to test for corporate R&D outlay. First, proposed variables such as one-year lagged R&D expenditures, market value based leverage, profitability and cash holdings showed significant influence on corporate R&D costs for the sample firms. Moreover, financial factors inclusive of squared one-year lagged R&D expenditures, the interaction effect between one-lagged R&D expenditures and high-growth firm, non-debt tax shield, Tobin's q and a dummy variable to explain differences in accounting treatment between the U.S. and Korea, revealed significant differences between the two samples. Finally, in the conditional quantile regression (CQR) analysis for the R&D-related variables in relation to corporate growth rate, it was found that the NYSE-listed firms had a statistically significant linkage between growth potential and one-year lagged R&D expenditures at lower quantile levels. This study may shed new light on identifying financial factors affecting differences between the U.S. market (as an advanced market) and the Korean market (as an emerging market) regarding the optimal level of R&D investments for shareholders.

• Economic Analysis
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• v.27 no.1
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• pp.1-36
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• 2021

Given the US dollar's status as a global safe haven, global factors, such as US monetary policy, may have considerable impacts on financial markets in other countries. Regarding such hypothesis, this paper looked at the impacts of US monetary policy on domestic bond and FX swap markets through an event study. According to our analysis, US monetary policy had significant positive impacts on domestic interest rates. In particular, it turned out to have bigger impacts on long-term products with high term premiums. By period, the correlation between US monetary policy and domestic interest rates was not significant before the financial crisis, but was clearly positive after the crisis. The US conventional monetary policy was seen to have big impacts on short-term and medium-term KTB yields, while its unconventional monetary policy had major impacts on long-term KTB yields. Moreover, FX swap rates reacted very sensitively to US monetary policy shocks before the financial crisis, while they did not show any significant reactions after the crisis. This suggests that, in line with the covered interest rate parity, the impact of US monetary policy shocks was transmitted to domestic financial markets mainly through swap rate adjustments before the global financial crisis, but through the changes in domestic interest rates during the post-crisis period.