• Korean Journal of Construction Engineering and Management
• /
• v.12 no.5
• /
• pp.35-45
• /
• 2011

Establishing housing supply strategies in Korean housing market is a crucial issue due to contradictory but concurrent two problems in market; one is the unstable working-class residential and the other is the high vacancy rate by the low-level of sales rate. Although government has been continuously implementing various supply policies in an attempt to evenly distribute houses as well as to keep supply and demand in balance, it is difficult to satisfy all of stakeholders, such as housing consumers, housing owners and housing suppliers. This paper, therefore, applies a system dynamics methodology and offers a dynamic and integrated model encompassing for-profit behaviors of each market participants. The proposed model simulates the future trends of house prices, the balances between supply and demand, construction companies earnings and vacancy rate when applying various housing supply scenarios. From the simulation result, recent governmental small-size rental housing supplies in bulks should utilize private construction companies to stabilize housing distribution rate and private supply system as well as the supply and demand are well balanced.

• Health Policy and Management
• /
• v.10 no.3
• /
• pp.169-187
• /
• 2000

Cigarette smoking has been identified as the most important source of preventable morbidity and premature mortality (WHO, 1995), The prevalence of smoking among men is very high in Korea. This study estimated productivity losses due to smoking in Korea, 1997. The derivation of cost estimates for mortality, disability, hospitalization and use of physician services related to cigarette smoking is bas 어 on the calculation of attributable fractions suggested by MacMahon and Cole and Smoking-Attributable Mortality, Morbidity, and Economic Cost(SAMMEC) software. To estimate the number of deaths from neoplastic, cardiovascular, respiratory diseases associated with cigarette smoking, estimates for adults(aged 20 years and over) were based on 1997 mortality data, 1995 data on smoking prevalence from Korea Institute for Health and Social Affairs. Smoking-attributable indirect morbidity cost data were obtained from the National Federation of Medical Insurance. As the result of cost estimation, these productivity losses were 336-430 billion won. During 1997, 8,620-10,804 deaths were attributed to smoking. Cigarette smoking resulted in 133,991-169,422 Years of Potential Life Lost (YPLL) to life expectancy. For smoking -attributable indirect mortality costs, the present value of future earnings(PVFE) for the age at death are 299-384 billion won. Smoking-attributable indirect morbidity costs, the costs of lost productivity for persons who are disabled by smoking-related chronic diseases are 37-46 billion won. In this study the productivity losses due to smoking were restricted to the health effects of smoking. It is possible that these costs were underestimated with the limitation of the data. Smoking is the leading preventable cause of illness and death. The results of this study can be used as elementary data for antismoking policy.

• Safety and Health at Work
• /
• v.12 no.3
• /
• pp.324-338
• /
• 2021

Background: We hypothesized that the growing demand of Korean workers for work-life balance would change the factors influencing job satisfaction. We sought to verify our hypothesis by conducting a conjoint analysis based on the Korean Working Conditions Survey (KWCS). Methods: We analyzed the raw data of the KWCS, conducted by the Occupational Safety and Health Research Institute from 2006 to 2017. To complete the analysis, we counted on a conjoint model of analysis, typically used in the analysis of customer satisfaction. The dependent variable was the satisfaction of workers with their working conditions, and the independent variables were the job quality indicators identified by Eurofound. Results: The factors that have the greatest impact on working conditions satisfaction are summarized as follows: "physical environment" for the first wave, "adverse social behavior" for the second wave, "occupational status" for the third and fourth waves, and "management quality" for the fifth wave. "Earnings" were not a major factor in determining employee job satisfaction, and the relative importance index is decreasing. Conclusion: According to the results of the analysis of the tendencies of Korean workers, the factors that affect the satisfaction with the working conditions have changed over time. It is crucial to identify factors that affect working conditions to assure the health and productivity of workers. The results of this study demonstrate that policymakers and employers are required to attentively consider human relations and social environment at work to improve working conditions in the future.

• Journal of Digital Convergence
• /
• v.10 no.10
• /
• pp.283-288
• /
• 2012

3D is the one of the current world in the spotlight as part of the future earnings of the business sector. Existing flat 2D and stereoscopic 3D to change the 3D shape and texture make walking along the dimension of the real world and the virtual reality world by making it feel contemporary reality of coexistence good show. 3D for the interest of the people has been spreading throughout the movie which is based on a 3D Avata. 3D TV market of the current conglomerate of changes in the market pioneer in the 3D market, further leap into the era of the upgrade was. At the same time, however, the modern man of the world, if becoming a necessity in the smartphone craze new innovation in the IT market mobile phone market and also has made. A small computer called a smartphone enough, the ripple velocity and the aftermath of the innovation of the telephone, the Internet as much as to leave many issues. Smartphone smart phone is a mobile phone that can be several functions. The current iPhone, Android. In addition to a large number of Windows Phone smartphones are released. Above the overall prospects of the future and a business service model for 3D facial expression as input avatar virtual 3D character on camera on your smartphone camera to recognize a user's emotional expressions on the face of the person is able to synthetic synthesized avatars in real-time to other mobile phone users matching, transmission, and be able to communicate in real-time sensibility fused video communication services to the development of applications.

• Culinary science and hospitality research
• /
• v.1
• /
• pp.57-89
• /
• 1995

Despite prologed business stagnation of both international and domestic economy, hotel business as well as tourist industry has continuously been keeping growing, owing to increase of surplus income and world flowing population. During recent 4 years, growth rate of yearly mean in domestic hotels reached 9.9% and especially that of the superior class hotels 15.2%. In the composition of domestic tourist hotel's revenue, the earnings of guest rooms form 37.4%, on the other hand those of food & beverage 39.9%. This result is that our hotel business is concentrated on its interest in FOOD & BEVERAGE of which productivity per unit dimension can be increased to an unlimited extent and extent and superior class hotels strengthened in F&B are increasing in comparison with European or American hotels which are focused on guest rooms in their management. For value added rate of F&B is low as compared with increase of their earnings, they are interested in the management techniques which focus on rising the rate. As for the cost of Food & Beverage, personnel expenditure forms 36.5% and the direct materials 31.5%. Therefore how to manage personnel and materials costs which compose as much as 68% of total revenue will greatly affect net profit. We can say that an effective management technique in cost of Food & Beverage is one of the most important know-hows in hotel management. Especially management know-how for the Kitchen Department where the most of foods come out makes a great effects on various expenses, productivity and it is the achievement from hotel management. For the most of the hotel's top managers, they don't seriously take the fact that KITCHEN SYSTEM affects greatly total expenditure. This study starts from the point of recognizing the question of fundamental cause affecting tow largest cost elements incurred in Food & Beverage and trying to present an effective kitchen system. To settle the questions raised, I compared and analyzed productivity and cost of food & beverage and unit kitchen centered around superior class hotels in Seoul, which vary in Kitchen Systems. In order to attain the aforementioned study effectively purpose of this study, I compared Room-Service and Coffee-Shop Menu, flow of basic food in the kitchen, extent and result of division of labor and integration in the kitchen, scale of outlet kitchen, productivity, the turnover rate of food in store, food cost rate one another which all vary in Kitchen Systems. All these elements are compared and analyzed each other being divided into two main groups such as①. Main Production kitchen and Banquet Kitchen, and ②. coffee-shop kitchen and Room-service Kitchen. Therefore this study is to point out the problems in managing kitchens of superior class hotels which are different in systems. An effort was made to find out the better Kitchen System for superior deluxe hotels. I emphasize the followings on the proper scale of division of labor and integration of unit kitchen and a disposition plan for outlet kitchens of restaurant. First, KITCHEN SYSTEM as a sub-system of Hotel Management System is composed of sub-systems of outlet unit kitchen. Basic food materials are cooked and served for the guests while support kitchen and out restaurant kitchen interact organically each other. So Kitchen should be considered as a system composed of integrated sub-systems. Second, support and banquet kitchens should be integrated to be managed. And these unit kitchens have to be designed to be placed in the back of banquet rooms area. Third, coffee-shop kitchen and room-service kitchen should be integrated to be managed. Fourth, several unit business kitchens should be place on the same floor. Fifth, main production kitchens ought to be located near the loading duck, food store and large refrigerator. Sixth, considering the limits of supervision, duties should be adjusted as 12-20 cooks in two shifts a day for a sub-kitchen, and 18-30 cooks in three shifts a day so that labor division can be made. Last, I would like to two points for direction and task of future study. Firstly, I compare the effective income and increasing costs each other, which are incurred by increasing the use rate of the second processing materials for foods perched outside and through the results. I can find out the better points of the processing production and circulation system, and then I study this effects made on hotel kitchen system. Secondly, I can point out that more efficient kitchen system shall be established through comparing and analyzing the matter of amount of indirect costs and flow of food in different kitchen systems.

• Korean small business review
• /
• v.31 no.4
• /
• pp.67-93
• /
• 2009

The purpose of this paper is to explore the relations between financial constraints and dividend smoothing of innovative small and medium sized enterprises(SMEs) listed on Korea Securities Market and Kosdaq Market of Korea Exchange. The innovative SMEs is defined as the firms with high level of R&D intensity which is measured by (R&D investment/total sales) ratio, according to Chauvin and Hirschey (1993). The R&D investment plays an important role as the innovative driver that can increase the future growth opportunity and profitability of the firms. Therefore, the R&D investment have large, positive, and consistent influences on the market value of the firm. In this point of view, we expect that the innovative SMEs can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. And also, we expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Aivazian et al.(2006) exert that the financial unconstrained firms with the high accessibility to capital market can adjust dividend payment faster than the financial constrained firms. We collect the sample firms among the total SMEs listed on Korea Securities Market and Kosdaq Market of Korea Exchange during the periods from January 1999 to December 2007 from the KIS Value Library database. The total number of firm-year observations of the total sample firms throughout the entire period is 5,544, the number of firm-year observations of the dividend firms is 2,919, and the number of firm-year observations of the non-dividend firms is 2,625. About 53%(or 2,919) of these total 5,544 observations involve firms that make a dividend payment. The dividend firms are divided into two groups according to the R&D intensity, such as the innovative SMEs with larger than median of R&D intensity and the noninnovative SMEs with smaller than median of R&D intensity. The number of firm-year observations of the innovative SMEs is 1,506, and the number of firm-year observations of the noninnovative SMEs is 1,413. Furthermore, the innovative SMEs are divided into two groups according to level of financial constraints, such as the financial unconstrained firms and the financial constrained firms. The number of firm-year observations of the former is 894, and the number of firm-year observations of the latter is 612. Although all available firm-year observations of the dividend firms are collected, deletions are made in the case of financial industries such as banks, securities company, insurance company, and other financial services company, because their capital structure and business style are widely different from the general manufacturing firms. The stock repurchase was involved in dividend payment because Grullon and Michaely (2002) examined the substitution hypothesis between dividends and stock repurchases. However, our data structure is an unbalanced panel data since there is no requirement that the firm-year observations data are all available for each firms during the entire periods from January 1999 to December 2007 from the KIS Value Library database. We firstly estimate the classic Lintner(1956) dividend adjustment model, where the decision to smooth dividend or to adopt a residual dividend policy depends on financial constraints measured by market accessibility. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between current payout rato and target payout ratio each year. In the Lintner model, dependent variable is the current dividend per share(DPS_t), and independent variables are the past dividend per share(DPS_t-1) and the current earnings per share(EPS_t). We hypothesized that firms adjust partially the gap between the current dividend per share(DPS_t) and the target payout ratio(Ω) each year, when the past dividend per share(DPS_t-1) deviate from the target payout ratio(Ω). We secondly estimate the expansion model that extend the Lintner model by including the determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory. In the expansion model, dependent variable is the current dividend per share(DPS_t), explanatory variables are the past dividend per share(DPS_t-1) and the current earnings per share(EPS_t), and control variables are the current capital expenditure ratio(CEA_t), the current leverage ratio(LEV_t), the current operating return on assets(ROA_t), the current business risk(RISK_t), the current trading volume turnover ratio(TURN_t), and the current dividend premium(DPREM_t). In these control variables, CEA_t, LEV_t, and ROA_t are the determinants suggested by the residual dividend theory and the agency theory, ROA_t and RISK_t are the determinants suggested by the dividend signaling theory, TURN_t is the determinant suggested by the transactions cost theory, and DPREM_t is the determinant suggested by the catering theory. Furthermore, we thirdly estimate the Lintner model and the expansion model by using the panel data of the financial unconstrained firms and the financial constrained firms, that are divided into two groups according to level of financial constraints. We expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, because the former can finance more easily the investment funds through the market accessibility than the latter. We analyzed descriptive statistics such as mean, standard deviation, and median to delete the outliers from the panel data, conducted one way analysis of variance to check up the industry-specfic effects, and conducted difference test of firms characteristic variables between innovative SMEs and noninnovative SMEs as well as difference test of firms characteristic variables between financial unconstrained firms and financial constrained firms. We also conducted the correlation analysis and the variance inflation factors analysis to detect any multicollinearity among the independent variables. Both of the correlation coefficients and the variance inflation factors are roughly low to the extent that may be ignored the multicollinearity among the independent variables. Furthermore, we estimate both of the Lintner model and the expansion model using the panel regression analysis. We firstly test the time-specific effects and the firm-specific effects may be involved in our panel data through the Lagrange multiplier test that was proposed by Breusch and Pagan(1980), and secondly conduct Hausman test to prove that fixed effect model is fitter with our panel data than the random effect model. The main results of this study can be summarized as follows. The determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory explain significantly the dividend policy of the innovative SMEs. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between the current payout ratio and the target payout ratio each year. In the core variables of Lintner model, the past dividend per share has more effects to dividend smoothing than the current earnings per share. These results suggest that the innovative SMEs maintain stable and long run dividend policy which sustains the past dividend per share level without corporate special reasons. The main results show that dividend adjustment speed of the innovative SMEs is faster than that of the noninnovative SMEs. This means that the innovative SMEs with high level of R&D intensity can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. The other main results show that dividend adjustment speed of the financial unconstrained SMEs is faster than that of the financial constrained SMEs. This means that the financial unconstrained firms with high accessibility to capital market can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Futhermore, the other additional results show that dividend adjustment speed of the innovative SMEs classified by the Small and Medium Business Administration is faster than that of the unclassified SMEs. They are linked with various financial policies and services such as credit guaranteed service, policy fund for SMEs, venture investment fund, insurance program, and so on. In conclusion, the past dividend per share and the current earnings per share suggested by the Lintner model explain mainly dividend adjustment speed of the innovative SMEs, and also the financial constraints explain partially. Therefore, if managers can properly understand of the relations between financial constraints and dividend smoothing of innovative SMEs, they can maintain stable and long run dividend policy of the innovative SMEs through dividend smoothing. These are encouraging results for Korea government, that is, the Small and Medium Business Administration as it has implemented many policies to commit to the innovative SMEs. This paper may have a few limitations because it may be only early study about the relations between financial constraints and dividend smoothing of the innovative SMEs. Specifically, this paper may not adequately capture all of the subtle features of the innovative SMEs and the financial unconstrained SMEs. Therefore, we think that it is necessary to expand sample firms and control variables, and use more elaborate analysis methods in the future studies.

• Journal of the Economic Geographical Society of Korea
• /
• v.17 no.2
• /
• pp.321-334
• /
• 2014

This study is planned to discover the behavior of Korean peasants cope with the changes of structure last 30 years. So, I have surveyed the activists of Jindo Peasants Association through questionnaire. The outcome of survey are as follows; First, Peasants movement have been become weakened and the hope of future have disappeared. Although they have resisted the pressure of structural changes zealously, their life conditions have worsened. So, Peasants movement have been become weakened and they have no alternative choice. Second, The economic situations of all activist those who surveyed have worsened and there is no exits. If looking only at the surface of things, the socio-economic situations of Jindo peasants activists show a tendency to polarization. But, to tell the truth, overall immiseration have occurred at Jindo area. Third, confusion of their sense of values and weakening of self-esteem have occurred among the Jindo peasants activists. It is because that farming which is evaluated high in respect to cultural and industrial perspective, have been eliminated and disregarded. Especially, worsening of earnings and expenses make the peasants to be in the worse situations.

• Journal of Korean Society of Forest Science
• /
• v.104 no.3
• /
• pp.495-502
• /
• 2015

This study intended to provide basic data required in establishing policies for improving the forestry management and the compensation standard for the loss from non-timber forest products by examining the cost of cultivating key medicinal herbs and the earnings from them to analyze the income. According to the income analysis on the cultivation of medicinal herbs, the average annual income per unit area of Adenophora triphylla var. japonica Hara was the highest as it recorded 14,233,000 won/10a and was followed by Pleuropterus multiflorus TURCZ. which recorded 4,121,000 won/10a, Gastrodia elata Blume 3,766,000 won/10a, Epimedium koreanum Nakai 3,537,000 won/10a, Atractylodes ovata (Thunb.) DC. 2,655,000 won/10a, Aralia continentalis Kitagawat 1,048,000 won/10a, Paeonia lactiflora Pallas 1,025,000 won/10a, and Bupleurum falcatum L. 919,000 won/10a. Compared with the income from major nuts and fruits analyzed in 2014, the average annual income per unit area for medicinal herbs was relatively higher. For Adenophora triphylla var. japonica Hara and Aralia continentalis Kitagawat, soots are used for food and the roots for medicine, it appears that it can become a new income source for the farming and mountain villages. Meanwhile, the price for Paeonia lactiflora Pallas is dropping due to Chinese imports, and also damage to the income from other medicinal herbs due to Chinese imports is expected with the implementation of Korea-China FTA in the future.

• Asian Pacific Journal of Cancer Prevention
• /
• v.16 no.3
• /
• pp.1295-1301
• /
• 2015

Background: Cancer imposes a significant economic burden on individuals, families and society. The purpose of this study was to estimate the economic burden of cancer using the healthcare claims and cancer registry data in Korea in 2009. Materials and Methods: The economic burden of cancer was estimated using the prevalence data where patients were identified in the Korean Central Cancer Registry. We estimated the medical, non-medical, morbidity and mortality cost due to lost productivity. Medical costs were calculated using the healthcare claims data obtained from the Korean National Health Insurance (KNHI) Corporation. Non-medical costs included the cost of transportation to visit health providers, costs associated with caregiving for cancer patients, and costs for complementary and alternative medicine (CAM). Data acquired from the Korean National Statistics Office and Ministry of Labor were used to calculate the life expectancy at the time of death, age- and gender-specific wages on average, adjusted for unemployment and labor force participation rate. Sensitivity analysis was performed to derive the current value of foregone future earnings due to premature death, discounted at 3% and 5%. Results: In 2009, estimated total economic cost of cancer amounted to $17.3 billion at a 3% discount rate. Medical care accounted for 28.3% of total costs, followed by non-medical (17.2%), morbidity (24.2%) and mortality (30.3%) costs. Conclusions: Given that the direct medical cost sharply increased over the last decade, we must strive to construct a sustainable health care system that provides better care while lowering the cost. In addition, a comprehensive cancer survivorship policy aimed at lower caregiving cost and higher rate of return to work has become more important than previously considered.

• Journal of Korean Neurosurgical Society
• /
• v.63 no.4
• /
• pp.519-531
• /
• 2020

Objective : The purpose of this study is identify the operation status of the neurosurgical care units (NCUs) in neurosurgical residency training hospitals nationwide and determine needed changes by comparing findings with those obtained from the Korean Neurosurgical Society (KNS) and Korean Society of Neurointensive Care Medicine (KNIC) survey of 2010. Method : This survey was conducted over 1 year in 86 neurosurgical residency training hospitals and two neurosurgery specialist hospitals and focused on the following areas : 1) the current status of the infrastructure and operating systems of NCUs in Korea, 2) barriers to installing neurointensivist team systems, 3) future roles of the KNS and KNIC, and 4) a handbook for physicians and practitioners in NCUs. We compared and analyzed the results of this survey with those from a KNIC survey of 2010. Results : Seventy seven hospitals (87.5%) participated in the survey. Nineteen hospitals (24.7%) employed a neurointensivist or faculty member; Thirty seven hospitals (48.1%) reported high demand for neurointensivists, and 62 hospitals (80.5%) stated that the mandatory deployment of a neurointensivist improved the quality of patient care. Forty four hospitals (57.1%) believed that hiring neurointensivist would increase hospital costs, and in response to a question on potential earnings declines. In terms of potential solutions to these problems, 70 respondents (90.9%) maintained that additional fees were necessary for neurointensivists' work, and 64 (83.1%) answered that direct support was needed of the personnel expenses for neurointensivists. Conclusion : We hope the results of this survey will guide successful implementation of neurointensivist systems across Korea.