• The Journal of the Korea Contents Association
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• v.11 no.10
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• pp.187-196
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• 2011

This study aimed to estimate the economic impact of the '2011 Seoul Motor Show' using a direct survey-based regional input-output(I-O) model. Based on the regional I-O table, Exhibition multipliers were derived with respect to output, income, employment, value-added and indirect tax. Attendees' survey was conducted to estimate per capita expenditure. The results of this study indicated that all attendees of '2011 Seoul Motor Show' generated 53.1 billion Won of output impact, 11.7 billion Won of income impact, 24.1 billion Won of Value-added impact, 2.6 billion Won of tax impact, and 1,030 part-time and full-time jobs throughout direct and indirect effects. Another result of this study was that output multiplier of the exhibition industry was similar with other industries, however, income, employment and value-added multipliers were relatively larger than those of other industries.

• The Journal of the Korea Contents Association
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• v.10 no.10
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• pp.334-350
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• 2010

This study aims at investigating the possible effects on the tax accounting practices stemming from adopting the IFRS in financial reporting process. It also seeks for policy implications to help alleviate practical conflicts likely to arise from the inconsistencies between the existing tax law and the tax related IFRS provisions. The results of the survey analysis are summarized as follows: firstly, majority opinion is opposed to the fair value based revaluation of property assets as well as the application of immediate recognition of foreign currency translation gains/losses. It favors the existing provision on asset securitization which adopts sales transaction view. Secondly, most of the respondents oppose the proposed amendments which allows dual classification of lease contracts on the ground. Third, functional currency appears acceptable on a conceptual level, even though a deep concern is expressed regarding the practical feasibility of computing taxable income using financial statements translated on the basis of functional currency on a practical viewpoint. Fourth, many respondents support the existing convention of recognizing depreciation expenses for taxation purposes and are in favor of the separation of accounting and tax books on a long-term basis. Fifth, the majority opinion approves the maintenance of existing tax reconciliation system and the recognition of expenses related with the doubtful accounts on reporting basis. Finally, a concern is raised with regard to the added burden of practical job loads needed to comply with the proposed amendments.

• KDI Journal of Economic Policy
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• v.33 no.2
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• pp.111-143
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• 2011

As the 'jobless growth' is developing into a worldwide phenomenon, many countries try to recover a virtuous relationship between the growth and employment using various wage subsidy programs. This study focuses on wage subsidy to employers, labor demand-side wage subsidy for which one can think of two types-a tax credit(a flat wage subsidy) and a social insurance premium exemption(a proportional wage subsidy). For job creation, Korean government reintroduced a tax credit to small and medium-sized enterprises(SMEs) which have increased their employment level in 2010. But many experts has continuously insisted that it should be replaced with a social insurance premium exemption arguing only a few SMEs benefit from the tax credit as most of them are actually not paying any corporate or general income tax bills. However, as the insurance premium exemption accompanies an increase in the amount of budget with the coverage widen, one cannot confirm its cost effectiveness over the tax credit. This paper aims to provide a theoretical analysis to derive some formal conditions under which a social insurance premium exemption creates more jobs than a tax credit does given a budget constraint. We show that the former's dominance over the latter depends on whether there exists a dead zone of social insurance or not. If there does not exist a dead zone, a social insurance premium exemption is more desirable in many cases, whereas one cannot guarantees its dominance over a tax credit if there exists a dead zone. Therefore in order to realize its dominance, the government should minimize a dead zone so that most SMEs effectively benefit from the insurance premium exemption. In addition, applying discriminative exemption rates which reflect each firm's job conditions such as wage level and labor demand/supply sensitivity, the government try to enhance job creation effect.

• Korea journal of population studies
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• v.8 no.1
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• pp.65-86
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• 1985

Korean population is ecpected to reach about 50 million by year 2000. And per capita GNP might attain the $5,000 level. This is bound to have profound impact on housing. For one thing, population and income growth will accelerate new household formation thus increasing new housing needs. On the other, changes in the housing preference function in association with income growth and new way of life would mean increasing demand for better dwelling environment. In addition, by year 2000, there will be many more elderly households necessitating new approaches to housing. The question is whether or not Korea could cope with new housing perspectives. If Korean housing has made in the past some progress in housing quality, it has not been able to tackle the mounting housing shortage. This is attributable to the concentration of effective housing demand in the hands of upper income groups in association with skewed income distribution and sustained dwelling price hike. Korea needs some basic changes in housing policy. The public sector should produce much more small dwellings either for sales or renting. Second, mortgage loans should be expanded so as to increase the access to housing. Third, every thing must be done to cut down the dwelling price through tax cut, relaxation of some requlations, cyclical stabilization of dwelling construction and loan subsidies.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.12
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• pp.85-94
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• 2021

Infrastructure capacities are essential elements and one of the sustainable lines to drive economic growth. Infrastructure development, both physical and social, is vital to sector-wise economic development. However, there is limited evidence of how infrastructure development in certain sectors benefits the economy as a whole. This study explains the relationships between infrastructure and economic growth in selected middle-income Asian countries, highlighting the essential criteria to benefit from both physical and social infrastructure, as well as sectoral (agriculture, industry, and services) economic output. The research uses the data from 1990 to 2020 for empirical estimations. The study used Levin, Lin, & Chu test, ADF- Fischer chi- Square, and PP- Fischer Chi-Square to test unit root and to observe the stationary nature of the panel. Padroni and Kao cointegration is applied to check the cointegration among different panes. A Fully Modified OLS was employed for checking the association between physical and social infrastructure and economic growth. Results show that physical and social infrastructure negatively impact sectoral output in Asia's middle-income countries. Apart from infrastructure the per capita GDP growth, tax to GDP ratio, and population growth shows a simultaneous relation between infrastructure and sectoral economic growth.

• Health Policy and Management
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• v.32 no.1
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• pp.107-112
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• 2022

Catastrophic healthcare expenditure refers to out-of-pocket spending for healthcare exceeding a certain proportion of a household's income and can lead to subsequent impoverishment. The aim of this study was to investigate the proportion of South Korean households that experienced catastrophic healthcare expenditure between 2006 and 2020 using available data from the National Survey of Tax and Benefit (NaSTaB), Korea Health Panel (KHP), and Households Income and Expenditure Survey (HIES). Trend test was used to analyze the proportion of household with catastrophic healthcare expenditure. In the NaSTaB 2020 data, households who experienced catastrophic health expenditure was 1.73%. Trend analysis was significant with the decreasing trend (annual percentage change [APC], -5.55; p<0.0001) in the proportion of households with the catastrophic health expenditure. Also, in the 2018 KHP and the 2016 HIES, households who experienced catastrophic health expenditure was 2.21% and 2.92% respectively. In contrast, the trend was significantly increased in the KHP (APC, 0.55; p<0.0001) and the HIES (APC, 1.43; p<0.0001). Therefore, the findings suggest the need to strengthen public health care financial support and monitor catastrophic healthcare expenditures, especially for low-income group.

• Journal of the Korean Institute of Navigation
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• v.19 no.3
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• pp.35-65
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• 1995

The development of Korean shipping industry is maybe defined into three development stages-industry fixing stage, industry coordinating stage, industry development stage-. The development of shipping industry has been depended on the geovernment/authority role such as shipping policy, system, law, rules and regulations. In 1983, Korean shipping industry reorganization and coordination by shipping authority have made our shipping industry on the stable condition together with each company's efforts. Today's world economic environment such WTO/UR negotiation results get this government role limited. According to the being reduced government role, each company's competitive advantage power becomes more important. Besides, korean shipping industry is exposed into the entire and bitter world competition. In order to win and prevent the world shipping competition, it is necessary to look out the competitive advantage power of Korean shipping industry. The first purpose of this study is the situation analysis for competitive advantage power of Korean shipping industry. The second is to compare with our shipping policies with foreign ones concerned with ship, cargo, crew, tax and others. But in order to compare with foreign shipping, this study need their shipping statistics data, this study has some limit of the foreign data. This study has been carried on the basis of the following items. 1. Shipping environment, 2. Ships and ship acquirement(shipbuilding/purchasing), 3. Oceangoing cargo and ship's stowage rate, 4. Human factor in shipping-crew, 5. The incomes and costs in finacial statements. We have some conclusions as following through the this study. First, Korean shipping industry environment-competitive disadvantage situation- has changed rapidly due to the shipping market opening, free market entering of foreign shipping. Second, Korean shipping is disadvantageous due to the high tax rate and financing conditions in connection with ship acquirement. In order to improve the competitive advantage power, the shipping tax system and ship financing conditions should be reviewed to profitable for owners. Third, but both world and Korean oceangoing cargoes quantity have been increased annualy, Korean ship's cargo stowage rate is being decreased. This is serious situation but Korean shipping take well use of foreign vessel with hire. It is recommended to take use of owner's vessel and hired ones in the long range view, considering the world shipping management. But the number of crew has been decreased by 2, 000~3, 000 annualy, it is desirable that the long sea-experienced crew have been increased. Almost of owners usauly complain the crew cost is the main obstacles to competitive advantage power. Human factor is the most important firm's asset. All owners should pay attention to this though, and invest the proper budget to training, education, welfare as much as possible. In the long run this effects could be feedback to owners. Fifth, We must improve the financial statements structure, that is, the first step is to increase income, the second is to decrease cost, the third is to increase income on the same cost, the fourth is to decrease cost on the same income. It is essential to find out what the urgent investment is and what unnecessary cost is. At last, in order to competite world shipping race, each shipping firm must try for himself to retain the power. The government/authority is no longer dependable. I believe that each firm's power will be the industry's power, the industry's power will be the nations's power.

• KDI Journal of Economic Policy
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• v.12 no.4
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• pp.113-126
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• 1990

With the introduction of the national pension, efficient integration of Korea's four public pension schemes has been discussed. The main point of such discussions is whether to have a progressive scheme or an income-proportional one. Under the assumption of a perfect labor market, it has been proved in the income tax literature that the regressive tax scheme with the 0 % tax rate to the most able person (person earning highest income) is pareto efficient, if there is an incentive problem in the labor supply. In this paper, a life-cycle model with a linear benefit schedule, when there is uncertainty about future earning ability, is studied. It is proved that the second best pension scheme is that having a progressive benefit schedule. This result implies that integration into a progressive pension scheme, like the current national pension, is required not only for efficiency but also for equity.

• Environmental and Resource Economics Review
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• v.12 no.3
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• pp.397-425
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• 2003

This paper develops a simple theoretical model that is consistent with the empirical evidence of an inverted U-shpated relationship between pollution and per capita income, which is so-called environmental Kuznets curve in this literature. Also, by incorporating the issue of environmental externality into an endogenous growth model, I investigate the circumstances under which growth can be sustained with the optimal control of pollution, and hence the sustainable development can be achieved. In order to study the problem of implementing the social optimum in a market economy, I examine the optimality of three different kinds of environmental policy instruments; pollution tax, pollution-permit trading system (pollution voucher), and direct regulation. This paper shows that the optimum can be implemented with a pollution tax or with a voucher system. Also, it is shown that the socially optimal rate of pollution tax should increase proportionally to the growth rate of consumption.

• Health Policy and Management
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• v.22 no.4
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• pp.538-560
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• 2012

This study tried to find out the level of national health expenditure and associated factors in the OECD countries and then to derive lessons for Korea's health financing based on the cross-national comparison. As a result, Korea's health expenditure in 2010(7.1% of GDP) accounted for 74.7 percent of the OECD average and ranked as countries to spend less on health. At the same time, the socio-economic indicators such as GDP per capita, elderly population ratio and the total tax revenue to GDP also remained between 72 ~ 82 percent of the OECD average. The public share of health financing(58.2%) was relatively lower than those of other countries. However the health expenditure and the public share have grown 1.9 ~ 2.4 times higher than the OECD average over the past decade. According to the quantitative analysis, countries with relatively high income and elderly population turned out to have high health expenditure. Whereas, an inverse relationship was found between the total health expenditure and the public funding. It was estimated that the value of national health expenditure to GDP decreases 0.083 when the rate of public funding increases 1 percent point. Further, the share of public funding was affected positively by the total tax burden. Based on these findings, this study suggests that the sustainable spending on health and alleviating households' direct burden could be ensured by enhancing the share of public funding along with adjusting the tax burden of the people.