• KDI Journal of Economic Policy
• /
• v.46 no.1
• /
• pp.21-51
• /
• 2024

Since the Global Financial Crisis of 2008-2009, the importance of nonbank financial institutions in macroprudential management has increased significantly. Consequently, major countries and international financial institutions have been actively discussing and implementing macroprudential supervision and regulation for non-bank financial institutions (NBFI). In this context, this paper analyzes the systemic risk of both banks and non-bank sectors (securities firms and insurance companies) in South Korea over different time periods. Using the widely recognized ΔCoVaR methodology for measuring systemic risk, the analysis reveals that systemic risk increased substantially across all three sectors (banks, securities firms, and insurance companies) during the Global Financial Crisis, the European Sovereign Debt Crisis, and the COVID-19 pandemic. Although the banking sector exhibited relatively high systemic risk compared to the securities and insurance sectors, the relative differences in systemic risk varied across the different crisis periods. Notably, during the margin call crisis in March of 2020, the gap in systemic risk between the banking and securities sectors decreased significantly compared to that during both the Global Financial Crisis and the European Sovereign Debt Crisis, indicating that securities firms had a more substantial impact on risk in the overall financial system during this period. Furthermore, I analyze the impact of the issuance of equity-linked securities (ELS) by financial institutions on systemic risk, as measured by ΔCoVaR, finding that an increase in the outstanding balance of ELS issuance by financial institutions had an impact on increasing ΔCoVaR during the three crisis periods. These findings underscore the growing importance of non-bank financial institutions in relation to South Korea's macroprudential management and supervision. To address this evolving landscape, enhanced monitoring and regulatory measures focusing on non-bank systemic risk are essential components of maintaining financial stability in the country.

• Korean Journal of Health Education and Promotion
• /
• v.30 no.4
• /
• pp.111-123
• /
• 2013

Objectives: This study aimed to share with experiences of a demonstration program based on a community for prevention and management of hypertension and diabetes mellitus, and to supply the evidence of accessible strategies within the community through the public-private partnershipin the near future. Methods: This study case was "the program of registration and management of hypertension and diabetes mellitus patients" which was conducted in Hogncheon-gun in Gangwon-province, 2012. Results: The infrastructure of this center was constructed with the public-private sector partnership according to the basic model of demonstration program since November, 2012. So, the total registered rate of hypertension and diabetes mellitus patients were 26.6% in comparison with suspected patients (to the result of 2011 Korea National Health and Nutrition Examination Survey), 37.8% in comparison with the real number of outpatient (to the claims data of 2011 Branch Honcheon-gun, National Health Insurance Corporation), and 107.8% in comparison with the project goal, sequentially. To the patients who were not treated for 30 and 60 days among the registered patients, a recall service was conducted. Through this intervention, it was monitored that this program has enhanced the consecutive treatment rate of the registered patients. Conclusions: To improve the continuous management of hypertension and diabetes mellitus patients, we are gotten to know that the community need the joint participation and mutual cooperation with public-private sector partnership.

• KDI Journal of Economic Policy
• /
• v.14 no.4
• /
• pp.107-121
• /
• 1992

Moonlighting or second-jobs will increase shirking of the primary job. This paper analyzes the motives for moonlighting so that the means of reducing these motives could be explored. The traditional theory claims that a worker who cannot fully realize his work potential will look to moonlighting. In a two-period model, however, the following motives are more important. The precautionary savings motive : A worker has an incentive to save for fear of losing his job and his income in the second period. The worker could save more by working more during the first period, and this additional motive for working is the precautionary savings motive. The insurance motive : When a worker is unemployed, he cannot expand his moonlighting hours according to his needs since the moonlighting hour is upward rigid. Therefore, a worker has an incentive to secure additional moonlighting hours in the first period so that quick adjustment can be made during the unemployment in the second period. Two policy measures to remove those motives for moonlighting are recommended, for these measures will enhance the productivity in the primary job. First, a firm should guarantee that there will be no layoffs in a downturn in the economy and that the employment level is adjusted to the economic states by work sharing among workers. Second, as unemployment insurance benefits compensate a portion of the income in case of unemployment, it substitutes the motives for moonlighting. A generalization of this argument can be found in Ehrlich and Becker(1972) where self-insurance(moonlighting) and market insurance(in this case, unemployment insurance) serves as substitutes. The two policy measures in the above have a spill-over effect : A decrease of labor supply in the moonlighting market will ease job search, and therefore will help those who have their primary job in the moonlighting sector.

• Fire Science and Engineering
• /
• v.15 no.1
• /
• pp.55-65
• /
• 2001

This paper's purpose is three-folded: modeling the self-regulating fire prevention system, developing a packet of practical fire prevention measures and regulations, and reviewing the applicability of fire insurance system in Korea as a main components of the self-regulating fore prevention system. The so called self-regulating fire prevention system is defined as a grand national fire prevention framework based on and promoted by the vitality and creativeness of the market (or private sector). This drastically contrasts with the existing government-led fire prevention system in Korea. The self-regulating fire prevention system has three grounds: the principle of self-responsibility, the redefinition of the fire service as a public goods, and the principle of self-selection. It seems natural that the self-regulating fire prevention system requires the function of fire insurance institution as a pivoting mechanism providing individual decision makers with a system of incentives, resulting in rational behaviors in the part of each individuals and in the well-balanced fire prevention network in the part of the overall public. In this regard, this pilfer examines the institutions and performance of the fire insurance industry in Korea and reviews the limitation of the industry as an instant replacement mechanism of the current government-led fire prevention system in Korea.

• Journal of Family Resource Management and Policy Review
• /
• v.9 no.3
• /
• pp.113-134
• /
• 2005

The study was first part of the research on development of consumer education program as social education program. The purpose of this study was to review social consumer education programs conducted by various organizations and to examine the consulting statistics from Korea Consumer Protection Board and Korea National Council of Consumer Organizations. In Consumer Protection Board, consumer education was operated mainly for both college students majored in consumer studies and public-sector workers. Outgoing education was provided mainly to the persons in industries and housewives. Other consumer organizations conducted consumer education using government funds. The organizations considered 'purchasing' and 'consumerism' most frequently as the topics for the education. 'Credit' and 'insurance' were another main concerns at the education. The consulting statistics showed that 'mobile communication', 'laundry service', 'health foods', and 'educational materials for foreign language' took the largest portion of the consumer consulting. Some implications were made for developing consumer education program as social education.

• Journal of Information Technology Services
• /
• v.11 no.3
• /
• pp.89-101
• /
• 2012

The study investigated if IT investment in Korean financial markets for the past 18 years has grown following the s-curve pattern based on Nolan's growth model in order to find the correlation between IT investment and management performance in the financial industry. According to the research finding it can be said that the overall financial markets maintain s-curve pattern, and IT investment is related to management performance, particularly increase in total assets and net profit. However, each sector has defining features of growth patterns. The banking industry has grown similarly to the s-curve, and the insurance industry also shows the s-curve but it looks more like linear pattern. In terms of securities industry, its growth patterns can hardly be considered s-curve due to the irregular changes. his research outcome illustrates the analysis of IT growth patterns in the financial industry and thus, it is expected to be a useful reference when deciding the appropriate time for IT investment in the financial industry.

• Tuberculosis and Respiratory Diseases
• /
• v.52 no.6
• /
• pp.579-589
• /
• 2002

Since the inception of the National Tuberculosis Control Program in 1962, the incidence of tuberculosis and its associated mortality has declined dramatically due to effective anti-tuberculosis drugs and a systematic control program. The prevalence of radiographically active tuberculosis has fallen from 5.1% in 1965 to 1.0% in 1995. However, tuberculosis is still a major problem, as the mortality rate is still higher compared to other developed countries. Furthermore, tuberculosis is currently re-emerging in HIV/AIDS epidemic countries. In order to lower the tuberculosis death rate to the levels of developed countries, the tuberculosis control efforts in private healthcare institutions and the national tuberculosis control program in the public sector, need to work together more effectively and efficiently. In this paper, the quthor reviewed the current situation regarding tuberculosis management in private healthcare institutions of Korea based on the literature and the National Health Insurance Claim data, and the future tasks of tuberculosis management are suggested.

• Korean Journal of Health Education and Promotion
• /
• v.14 no.2
• /
• pp.185-195
• /
• 1997

This study is aimed to devise a development and utilization of health educator in Korea. Health education activities should be a matter of the highest priority in the health promotion program. However the health education program able to establish effectively through utilizing health educator. The histories of health education program both private and public sector in Korea was compiled in this paper. The regulations of health educators in developed countries such as U.S.A, Japan and other European countries was contemplated in terms of their roles, qualities and working sites. This study proposed positively to develop new national license of health educator in consideration of the working places and roles in Korea. The former is placed to five fields such as health center, industry, health insurance corporation, school, hospital and other health related institions, and the latter is working with high quality of planning, excuting and evaluating health education program.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
• /
• 1991.06a
• /
• pp.21-36
• /
• 1991

The main function of most ship management companies in Korea has been crew manning for foreign shipowners i.e. limited management whereas those in Norway. U, K Hong Kong Singapore and etc. have been largely involved in full management which includes ship operation maintenance and repairs chartering financial administration accounting insurance etc not to mention crew manning The shortage of supply of seamen caused by deindustrialisation and increasing GNP tends to deteriorate the profitability of ship management companies in Korea. In these circumstances they may have to expand their present business to full management in order to continue to be going concerns, This paper evaluates the roles and performances of ship management companies in Korean shipping sector during the last three decades and suggests some ideas in order to develop them identifying major barriers against their development and analysing business activities of ship management companies in advanced maritime countries.

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