• Journal of the Korean Dietetic Association
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• v.9 no.3
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• pp.197-208
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• 2003

This study was surveyed to provide the information on current operational practices and issues of contract-managed foodservice companies. Questionnaires were distributed to 79 contract-managed foodservice companies (eight large-size, 48 mid-size, 23 small-size companies) from March to May in 2002. The contract-managed foodservice companies provided averages of 269,184 (range 140,036-503,500), 14,837 (range 450-75,269), and 4,065 (range 930-8,050) meals daily from large, medium, and small-size companies, respectively. The companies managed to averages of 268.2 (160-619) foodservice contracts at large-size companies, 21.9 (5-63) contracts at mid-size companies, and 4.7 (1-10) contracts at small-size companies. The average numbers of dietitians were 298.6 (range 104-671) in large-size companies, 22.2(6-86) in mid-size companies, and 3.8(1-9) in small-size companies. The averages of sales were 156.5 billion at large-size companies, 6.7 billion at mid-size companies, and 1.7 billion at small-size companies in 2001. The contract was two types including management fee contract(5%), and profit and loss contract(95%). The cost ratios for office foodservice were 59.5% at food cost, 24.2% at labor cost, 6.3% at profit, and 10.1% at other cost. For hospital foodservice, the ratios were 54.0% at the food cost, 34.6% at labor cost, 3.0% at profit, and 11.8% at other cost. For high school foodservice, the ratios were 62.2% at the food cost, 21.5% at labor cost, 5.4% at profit, and 11.2% at other cost. When the contractors managed to the foodservice, the most important matters were the sanitation management and customer satisfaction. Also, the difficult problems were excess investment of equipments and low meal prices.

• Journal of Climate Change Research
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• v.2 no.2
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• pp.115-131
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• 2011

Out of all the possible actions that can be taken to respond to greenhouse gas reduction, including development of greenhouse gas reduction technology, infrastructure, actions to improve energy saving and efficiency, and offset with carbon emission reductions (CERs), this study shall focus on the investment on CERs. This study will take a look at risks involved with investing in CERs such as UN registration refusal risk and CERs price fluctuation, and will design risk management model which shall be verified. The goal of this paper is to provide optimized CERs investment strategies for different types of investors, such as general trading companies seeking for investment opportunities and financial companies with plans for green products development and investment by preparation for carbon market. It is expected that the global competitiveness of domestic financial companies shall be improved by taking actions on carbon market instead of previous passive response to climate change and that Korea, the number two Carbon Emissions supplier and number one derivatives market in terms of volume, shall be able to lead the worldwide carbon market.

• Journal of the Korean Dietetic Association
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• v.9 no.2
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• pp.128-137
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• 2003

The purposes of this study were to investigate the current status of contracted hospital food services and to find out the difference in accordance with the number of beds in hospitals. Thirty six hospitals having more than 100beds in Seoul, Inchon and Kyungkido were the subjects of this study. Data was collected through surveys. The survey was conducted during March and April in 2002. The Questionnaires were mailed to the 36 directors of dietetic departments of the hospitals and 36 managers of contracting patient food services. Statistical analysis was completed using SPSS Win(11.0) for descriptive analysis and t-test. The results of the study are summerized as follows; Ⅰ. Hospital perspective : The range covered by contract food service was 63.3% and 36.7% in hospital food services, and medical nutrition services. The patient and employee food services were in 83.3%, and patient food services were in 6.7%. The methods selecting contractors are general, limited, selected and competitive biddings, and private contracts. The responsibility for supervision of contract food services was the dietetic department (51.7%) in most cases. Hospitals having personnel responsible for contracting affairs were in 75.9% of the cases and 24.1% did not have personnel. The biggest reason for contracting was facilitation of personnel management. The most important criteria on selecting food services contractors was the professionality of the contractor. Ⅱ. Contractor's perspective : The cost per meal in the year 2001 was composed of 1,905 won for food cost, 1,081 won for labor cost, 222 won for expenses, 114 won for VAT, 14 won for rent and 146 won for miscellaneous or controllable expense, representing 109 won loss per meal. The profit-and-loss contract cost is higher than the fee-contract cost. The ratios of food cost, labor cost and expenses are higher and the ratios of miscellaneous or controllable expense, VAT, rent and profit are lower in hospitals with more than 400 beds compared with those less than 400 beds. However, no significant differences are present between these two groups of hospitals. The actual contract period was 2.2 years upon initial contract and 1.2 years upon renewal. The initial investment cost was 53 million won and the cost of renovation and repair was 8.5 million won. Significant differences were present between two groups of hospitals. The conditions of employment and number of personnel hired by contractors for contract patient food services were significantly different according to the number of beds.

• International Commerce and Information Review
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• v.9 no.4
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• pp.141-158
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• 2007

The purpose of this paper is to examine the validity or effectiveness of the Arbitration Clause such as Model Clause I, and to confirm how other issues such as arbitrable "investment", appointment of arbitrators and law governing the agreement be reflected in the agreement. However, the parties should be sure that the arbitration clause is valid if they have checked whether, for their particular situation, the ICSID Centre has jurisdiction. For the validity of the Arbitration Clause, first the host country and the country which the investor belong to must be "contracting states" to the ICSID Convention. Second, the specific consent to arbitrate must be expressed in writing in the investment contract or in a national investment law or in an investment protection treaty. The issue of "nationality" of an other contracting state is determined by the place of incorporation or the location of the head office. In case the parties have doubts about a valid consent to arbitrate, Art. 41 of the ICSID Convention provides, regarding ICSID jurisdiction, that the tribunal shall be the judge of its own competence. It follows that ICSID Arbitration has an autonomous and exclusive character. As a consequence, domestic courts may not interfere with the question of ICSID's jurisdiction, which is called as "rule of abstention".

• East Asian Economic Review
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• v.24 no.4
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• pp.441-468
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• 2020

Capital inflows have a strong presence that influences destination countries' development of institutions, which can in turn help resuscitate a stopped economy and re-attract capital that was lost during crises such as the recent public health crisis. While the previous literature emphasizes the mechanism that foreign investors press or even threaten the local government for change, this paper explores empirically whether institutional improvement can be achieved through the channel that host countries voluntarily reform institutions in anticipation of potential investments predicted by the exogenous geographical and cultural characteristics of the recipient countries. Given that countries with better institutional quality can accumulate larger FDI stocks, we still find that the need for more FDI, in contrast to FPI and debt, gives higher incentives to host countries to strategically improve their institutions before seeking capital overseas. Moreover, the predicted FDI exerts more prominent impacts on institutions on constraining elite than those involved in launching a business, enforcing contracts, and protecting properties. The results imply that a long-run plan for upgrading elite constraint institutions is crucial for a post-pandemic FDI reboot.

• Journal of the Korea Institute of Building Construction
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• v.3 no.1
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• pp.155-160
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• 2003

The Korean economic crisis hit badly the local construction industry, especially during the year of the 1998 when the country took the IMF bailout proframme. Under the poor business environment, such as reduction of construction investment, financial difficulty from high interest rate, and increasing bankruptcies, restructuring measures were repuired for survival of the industry. It is obvious the restructuring process is essential for the future business success. regardless of the financial crisis. With this background, this research aims the contribute to improved construction management structure and strengthened international competitiveness of the industry through the cost reduction and productivity enhancement, by analysising and proposing and optimal level of the manpower structure of construction management organization With the subject of 24 construction fields of apartment houses in the capital region as of January 1, 1999, constructed by OO company having leaded the construction industry of the country so far now, the researcher performed the on the spot survey regarding the organization/manpower structure and construction contract amount.

• Journal of Distribution Science
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• v.12 no.4
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• pp.11-22
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• 2014

Purpose - The domestic franchise industry has made significant contributions to industry such as investment, employment, and community economy development, facilitating growth potential. The franchise industry provides management knowhow transfer between parent companies and franchisees as per contracts addressing use of business signs, franchisees' independent position, franchisor support, and royalties to be paid to the franchisors. However, many franchisors lack management knowhow and provide insufficient support because of poor control of franchisees and not having a systematic approach to support. This results in dissatisfied franchisees and failure to establish long-term relationships. Few studies have examined relational commitment and/or re-contract intention by support resources between franchisors and franchisees, despite a considerable output of theories and studies of the growth of the franchise industry. The purpose of this study, therefore, was to examine the effects of the ability to provide resources on relational commitments and re-contract intention, and to suggest causal relationships and implications. Research design, data, and methodology - The subject was domestic franchisors registered with the Association of Franchise with more than 50 franchisees. Franchisees under contract for 2 years and considering re-contract of their franchise 2 years later were used. The subjects totaled 300 franchisees in Seoul. A questionnaire survey was used to investigate the subject of franchisees' concessions during the 10 days from November 21, 2013 to November 30, 2013. After excluding 16 surveys with poor answers, 284 responses were finally used. Four areas and 44 questions were used. A nominal scale was used for four common characteristics questions including gender, ages, educational background, and franchise managing time. Questions regarding ability, relational commitment, and re-contract intention made use of a Likert 5-point scale. Data coding and data cleaning were used. SPSS 18.0 was used as follows. First, frequency analysis was done to investigate demographic characteristics. Second, exploratory factor analysis was done to verify validity of testing tools, and Cronbach's α coefficient was used to verify reliability. Third, correlation analysis and multiple regression analysis were done. An exploratory factor analysis was done to verify validity of concepts. A correlation analysis was done to test relationships between the variables, and multiple regression analysis was done to verify franchisor's ability, franchisees' relational commitment, and re-contract intention. Results - The following were the outcomes. First, store operation management, finance operation management, and human resource management affected the calculated bond. Second, store operation management and finance operation management affected the emotional bond. Third, store operation management, finance operation management, human resource management, and marketing management affected the prescriptive bond. Fourth, calculated bond and prescriptive bond had an effect on re-contract intention. Conclusions - As stated above, in franchise management, parent companies' offer and instruction of core competence to their franchisees as an information resource could improve the relational bond by helping them grow together through the resource sharing. Consequently, core competence factors were promoting factors that could improve franchisees' re-contract intention for a long time.

• Journal of Distribution Science
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• v.13 no.11
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• pp.47-58
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• 2015

Purpose - This study aims to seek determinants of department store sales commission rates under consignment contracts based on transaction cost theory, the power-dependence view, and the resource-based view. A consignment contract is a unique contract where the retailer, over a given period, takes possession of goods owned by a supplier, promotes the sales of these goods, and receives a profit share from their sales. Under this contract, the supplier owns the goods until they are sold. In department stores in South Korea, over 70% of overall sales comes through consignment contracts. In other words, this is the most popular contract agreement between large retailers and vendors in South Korea. Consignment contracts yield high profits to department stores with minimal sales uncertainty, stock cost, and marketing investment. Many suppliers believe the consignment contract commission rates are too high. However, department stores disagree. They state that the commissions are not high as they generate new value for the suppliers by accumulating up-to-date merchandise and supporting various marketing programs on their behalf. Recently, consignment contracts have been critically examined and scrutinized by politicians, mass media, and the public of Korea. This study further intends to derive implications reflecting both buyer and seller perspectives as well as offer insights to policy makers in making appropriate decisions. Research design, data, and methodology - To verify the proposed research model and test hypotheses, the authors selected 164 suppliers, which currently have relationships with department stores. This study carefully investigated the reliability, content validity, convergent validity, and discriminant validity of the proposed model. The data were analyzed using SPSS 18.0 and AMOS structural equation modeling program Results - For the transaction cost theory and the power-dependence view, the results indicated that product diversity and demand volatility had a positive impact on the sales dependence on a department store. Dependence in turn had a positive effect on the sales commission under the consignment contract. Based on the resource-based view, the department store's marketing capability, the supplier's perception toward merchandising, and supporting activities could enhance the department store's channel leadership in the buyer-seller relationship. Subsequently, the channel leadership had a positive effect on the sales commission. However, product complexity had no relationship with department store dependence. Conclusions - This is the first empirical research that investigates the determinants of sales commissions under consignment contracts in the domestic retail industry. This study reveals several theoretical and practical implications for both marketing scholars and marketers. In terms of theoretical implication, this study integrated and enlarged certain theoretical background, such as transaction cost theory, the power-dependence view, and the resource-based view, to explain the determinants of sales commissions under consignment contracts that include sales revenue. From a business management viewpoint, this research offers useful insights for policy makers by applying two different perspectives, both the manufacturer and the retailer, in terms of the sales commission issue under a consignment contract.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.6
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• pp.1-12
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• 2022

This paper put the goal on boosting up early startup investment by delivering and positioning SAFE as the main early startup investment type in Korea. In particular, this paper proves the better fitting of SAFE as to the early stage of venture investment than these of Convertible Note. This paper as referring the previous studies of SAFE as the major keystone issues determining active SAFE applying (legal positioning issue, tax treatment issue, failure of inducing the following investment with uncertainty over maturity) proposes boosting up policy of Korean SAFE. First, as to accounting treatment of SAFE, it suggests SAFE to recognize legally as "the capital" on the Korean Venture Investment Act of introducing SAFE actively as venture investment type. Second, as to tax treatment issue, it proposes on amending venture indication rule as the best alternative of resolving tax issue by accepting SAFE as the investment meeting to venture investment requirement. Third, as benchmarking foreign cases, it delivers the method of modifying foreign SAFE Contract Format by adding up more clauses about safety vehicles against the failure of the following investment and fixing maturity date and event. Ultimately, all resolutions of this paper fall on highlighting the role of Korean Venture Investment Act and Ministry of SMEs and Startups.

• Journal of the Korean Operations Research and Management Science Society
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• v.12 no.1
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• pp.157-157
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• 1987

Hydro-electric power generation from multi-purpose dams has been playing important roles in the electric power supply network in Korea. Although the total share of hydro power in national electricity supply now becomes very small, the peak-shaving and frequency control capability of hydro power helps the power company enormously in maintaining the quality of power. But since the company that builds and operates the multi-purpose dams in Korea has to sell all the electricity produced to the monopolistic utility, there have been various problems in justifying the investment, designing pricing mechanism, and controlling operations of the power plants. In addition, economic evaluation of the hydro power has been distorted by a variety of reasons and hence it has been very difficult to encourage effective development and utilization of national water resources. To make the problem worse, both parties are public companies with X-inefficiency problems. Thus, changing environment requires to reengineer the system that governs hydro power generation. We address the problems of Korean hydro-electric power generation system in four areas: the investment justification process, the operations decison right of the hydro power plants, the pricing of the purchased-power, and the negotiation of contract revision. Then we propose improvement directions of new hydro-electric power system in view of static and dynamic efficiency, X-inefficiency and equity.