• Management & Information Systems Review
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• v.35 no.1
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• pp.287-305
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• 2016

This study confirms that there is a correlation between managers' incentive-compensation system(introduction of the compensation committee) and corporate governance mechanisms (ownership structure, proportion of outside directors, debt ratio, competitive strength), and analyzes whether firm value is affected by corporate governance mechanisms. The purpose of this paper are empirically tested using 318 firm-year data listed on the KRX from 2001 to 2010 and 2SLS(two-stage least square method) were used for the analysis of the hypotheses. The results of empirical tests are as follows. Firstly, there is no correlation between introduction of the compensation committee and corporate governance mechanisms. In addition, the results show that there is a causal relationship between some variables. Secondly, results from the analysis of the impact of corporate governance mechanisms on firm value, only introduction of the compensation committee and foreign investors ownership were analyzed as a positive impact on the firm value. This result means that most domestic firm don't actively used for managers' incentive-compensation system as a useful control device for improving corporate governance.

• Korean Journal of Heritage: History & Science
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• v.48 no.4
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• pp.24-43
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• 2015

Since 2011, when Oegyujanggak Uigwe(Records of the State Rites of the Joseon Dynasty) were returned from France, which were looted in 1866 by the French Navy, national attention to our cultural properties abroad was explosively increased and public pressure has been mounting that those cultural properties should be returned in Korea. According to the statistics of "Overseas Korean Cultural Heritage Foundation" Korean cultural Properties, which exist in foreign countries, amounts 160,342 in total 20 countries. Among them about half of them are estimated to be illegally exported cultural property, these are to be restituted. However, in reality it is not so easy to restitute illegally exported cultural properties. For this, it needs to be established a long-term and systematic plan for return of cultural properties from other countries. This paper starts from such a critical mind and tries to find legal policy measures for the return of illegally exported cultural properties. To this end, the author first describes motive and aim of this research in chapter I. and overviews basic understanding and current situation of export of cultural property as well as means and methods of return of cultural property in chapter II. and then deals with international and national norms that are involved in the dispute concerned return of cultural properties in chapter III. Based on this research, in chapter IV., which can be considered as a key part of this paper, the author proposed nine legal policy measures for restitution of cultural properties from foreign countries. That is, actual condition survey of cultural properties in foreign countries, unified management and implement of export ID on cultural properties, fund-raising for the diversification of means of return of cultural properties. local utilization of cultural properties, joining in the multilateral conventions and expansion of the bilateral agreements, restitution and cooperation through international organizations, restitution through lawsuit and arbitration, training experts on restitution of cultural property and networking with foreign experts. Finally, the author summarized his opinion in chapter V. which comprehended researching the above.

• Journal of Korean Society of Forest Science
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• v.31 no.1
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• pp.21-29
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• 1976

In foreign countries the national forests began to emerge when the modern body politic came into being and looked upon forests as an indispensible source of national wealth to the effect that eachnation virtually nationalized the forests to promote the public interest such as erosion prevention and water source stability. Most of the forests that are now in national ownership used to be the estates of kings and feudal lords in the Middle Ages. In Korea in national forests come into being toward the end of Yi-dynasty as an outcome of the Japanese colonial policy under which, with the purpose of exploiting the forest resources, the dense forests of large area were systematically transferred into national property to be controlled by establishing the echelon of the national forest stations. The main task of these stations was to fell lumber to no limits.

• KDI Journal of Economic Policy
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• v.28 no.2
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• pp.97-129
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• 2006

This study investigates whether dynamic loan loss provisioning is necessary in Korean banking environments. Under the dynamic provisioning rule banks are required to accumulate additional reserves to general and specific provisionings in preparation for expected loan losses until maturity. This provisioning is most effective in the case that banks tend to recognize less loan losses in the business upturns and/or in the periods of increasing profits. The empirical study, however, shows that banks support procyclicality of loan loss privisioning and earning smoothing behavior over profit fluctuations. These findings suggest that Korea would not seriously need the introduction of dynamic loan loss provisioning. But this policy implication does not seem robust in view that the recent experience shows the countercyclicality of loan loss provisioning practices and negative correlation between earnings and provisioning after financial restructuring was completed. This result is partly attributable to vigorous shareholder activism because of high foreign ownership of most commercial banks. Once it is true that bank management is more interested in short-term performances, current loan loss provisioning would have attributes of impairing capital adequacy, hence strengthening loan loss provisiong requirements.

• Journal of Fisheries and Marine Sciences Education
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• v.3 no.1
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• pp.35-43
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• 1991

The fishing vessels operation is a kind of maritime profit-making activities, which are complicatedly integrated by the basic and supplemental fishing activities with navigation. The Fishing Vessels Act of Korea defines the character of fishing vessels and gives a legal status to them, and this Act itself is linked with the allied public laws including the Ships Act of Korea. For this reason, the legal status of fishing vessels as Korean flagged ships by the public law is analogous to the general commercial vessels. And the specific character of ownership of the fishing vessels by the Korean Maritime-Commercial Act as a privated law is analogous to the general commercial vessels, nevertheless the Chapter 4(Carriage of goods) and the Chapter 5(General average) of this Act do not apply to the fishing vessels except the fish carriers. A fishing vessel possesses the legal status as a Korean flagged ship by having it registered and putting it on record under the provision of national law, however the principle of genuine link is an important factor for acquisition of nationality. Especially, the basic rules by the Law of the Sea those are attended with the distant-water fishing vessels operation at the overseas fishing ground are summarized as follows ; Firstly, the rights of navigation and fishing activities on the high seas are fundamentally recognized to all states, but the freedom is restricted according to the international legal order aiming at protection of reasonable interests of other states and conservation of the living resources and marine environment. Secondly, in the EEZ or EFZ the freedom of navigation is recognized, but fishing activities are exclusively ruled by the national law of the coastal state. Thirdly, foreign fishing activities are prohibited but the right of innocent passage is recognized in the territorial sea, while both activities are prohibited in the internal waters of the coastal state.

• The Korean Journal of Air & Space Law and Policy
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• v.5
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• pp.207-264
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• 1993

항공사의 외국인 소유는 이것으로 인하여 전체 항공운송 시스템이 변화될 수 있는 핵심적인 개념이다. 작금 항공운송산업을 둘러싼 환경은 급격하게 변화하고 있어서 많은 국가들이 항공사의 외국인 소유와 관련한 기존의 법제나 정책변경을 심각하게 고려하기 시작하였다. 항공기 및 항공사의 국적과 관련한 전통적인 개념은 양자사이에 '진정한' 또는 '효파적인' 관계가 있어야 한다는 것이다. 특별히 항공사의 '실질적인 및 효과적인 통제'조항은 양자 및 다자간 항공운송 협정에서 가장 핵심적인 역할을 해오고 있다. 그러나 변화의 바람이 거세게 일고 있다. 항공운송산업에서 이러한 변화는 미국에서 시작되고 미국의 국제항공관계에 적용되고 있는 규제완화에서 비롯되었다. 미국의 규제완화정책은 합병 및 흡수를 통한 항공사의 집중이라는 결과를 가져와서 항공운송 시장은 궁극적으로 소수의 거대 항공사에 의해 지배될 것이라는 우려를 낳고 있다. 이러한 새로운 추세에 대응하여 많은 국가틀이 다양한 형태의 지역협력체를 형성하고 있다. (예, EC, 아세안, 안데안 그룹, 야마스크로 선언 등) 또한 다수 국가들은 정치.경제적인 이웃에서 정부의 소유주식을 외국인 및 외국회사를 포함한 민간부문에 매각함으로써 사유.사영화를 추진하고 있다. 한편 제조업 분야에서 다국적기업 (IBM, 코카콜라 등)은 별 어력움이 없이 성립될 수 있다. GATT의 주관하에 열리고 있는 우루과이 협상에 참여하고 있는 국가들은 최혜국 대우, 내국인 대우, 시장접근 같은 상품교역의 개념및 원리를 항공운송서비스를 포함한 서비스교역에 적용하는데 기본적으로 합의하였다. 급격히 변화하는 환경에서 항공운송 산업만이 국가의 영공 주권, 항공사의 공익기업 개념, 상업적 이익의 균형교환 같은 자기류의 논리에 집착하여 언제까지나 홀로 고립될 수는 없을 것이다. 더구나 세계 항공운송 산업은 1980년 후반부터 큰 시련에 직면해 있다. 몇몇을 제외한 대부분의 항공사는 세계경제의 불황속에서 초과공급 및 운임전쟁으로 인한 엄청난 적자를 기록하고 있다. 모든점을 미루어볼 때 세계의 항공사들은 과거 어느 때보다도 외국인 투자를 필요로 하고 있으며 항공사가 속해 있는 정부는 외국인 소유에 관한 법제를 개정하고 나아가 전체 항공운송시스템을 개편하도록 압력을 받고 있다. 많은 국가에서 외국인 소유에 관한 법규의 개정은 현존 항공운송 시스템에 다각적인 영향을 가져올 것이다. 다시말하면 양자협상, 반독점및 경쟁볍규의 적용, 고용 및 카보타지등을 포함한 제반분야가 영향을 받을 것이다. 결국 외국인 소유에 관한 법제의 완화는 항공사의 세계화 또는 다국적화의 과정을 촉진시킬 것이고, 항공사간 다양한 형태의 제휴가 이러한 방향에서 계속될 것이다.

• Journal of the Korean Society of Costume
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• v.58 no.2
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• pp.134-148
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• 2008

Methods of delivering products to consumers do not act as less important factor than creative activities to create new product designs. Mobilizing various psychological elements based on human instinct and desire, fashion industry presents a product as an object of envy, gaining viewers' attention. Here, the viewer does not simply take the product as an object to view, but also imagine transformation it will bring. The study of the cause and effects of the interaction, which is found in the relationship between "the viewer" and "what is viewed" is an important factor that needs to be identified in the phase of creation as well as in the aspect of delivery. The relationship between the perceiver and what is perceived features in designs, product advertisements, related articles, and fashion shows in modern fashion, serving as a medium that enables the humans, who must inevitably exist between the two poles such as mind and body, the subject and the object, the ego and non-ego, and the reality and an ideal, to communicate between the poles. Humans cannot do arbitrary acts or make arbitrary selections only as they access to foreign things through instinct, desire, or experienced perception, and they are sometimes positioned passive by things. In the background, as there are human dual characteristics in which they are expressed as the ego and another ego who exists inside of the ego, they not only view an object, but also become an object to be viewed. Many products in modern fashion, as the objects of reciprocal transposition, grow giving illusions to humans. Having a desire for such objects is human's instinct and normal act to keep the life balanced between the reality and an ideal, which is based on the activation of reality function. Furthermore, freely acting rather than ignoring or overcoming the desire may be the act of retrieving one's ownership to the ego.

• International Commerce and Information Review
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• v.15 no.1
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• pp.97-116
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• 2013

The environmental problems such as global climate chage, global wamning, ozone depletion, environmental pollution have been caused by the rapid economic growth, increasing in use of fossil fuels for industralization and scientific technology development. Between Environmental Preservation and Economic Development, the new paradigm, "Sustainable Development" is presented to the world now. To achieve global environmental objectives, some multilateral envrionment mental agreements includes trade regulation. However Kyoto Protocol has no provisions to regulate trade and is not in force yet. By the effectuation of the Kyoto Protocol, Korea will be faced very serious situation because of her high Dependency on Foreign Trade and Fossil Fuel- intensive Industries. We must be able to gain a sense of ownership in the out come of the WTO/CTE discussions by contributing meaningfully to the creation of a constructive relationship between Trade and Environment concerns.

• FLOWER RESEARCH JOURNAL
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• v.17 no.3
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• pp.208-213
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• 2009

Since International Union for the Protection of New Varieties of Plants (UPOV) was established in 1968, the number of joined nations is getting increasing and the regime for variety protection was intensified. Korea joined as the 50th member nation in UPOV. A lot of floricultural plants including rose and chrysanthemum from foreign countries have been applied and registered by Korea Seed and Variety Service (KOSID). Since Korea is one of the importing countries in cut flowers and bulbs, paying royalty is a big burden. Now we are to identify the policy on handling of a mutant from essentially derived varieties (EDV) and relation of a finder (or grower) and breeder by different companies in each country. As a result, the rights are provided not to a finder but to a breeder (breeding company) in most industries. Second, grower's rights are recognized, but in case of the mutant is commercialized, a grower and a breeder should come to a mutual agreement. Third, there is a kind of compensation system for the finder of the mutant.

• International Area Studies Review
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• v.12 no.2
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• pp.27-53
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• 2008

This paper investigates factors determining the level of nontraditional activities at banks around the world. Specifically, the paper examines what kinds of firm-specific and country-specific characteristics determine the level of noninterest income using a comprehensive multi-country database. This paper focuses beyond the traditional U.S. based analyses and provides detailed asset-liability management practices of banks around the world.The findings suggest that banks' size and loan loss provision, explicit deposit insurance, banking restriction, banking freedom ranking of respective countries, the extent of state and foreign ownership, governance, and transparency of the country have positive effects on the level of nontraditional activities. Greater dependence on traditional lending and financing, market based economy, and multiple bank supervisory bodies in the country have negative associations with noninterest income. The economic development of country however affects the extent of the relationship.