• Management & Information Systems Review
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• v.34 no.2
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• pp.151-169
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• 2015

Social enterprises that are solving pressing global issues and providing services such as micro-finance, affordable housing, appropriate technology and education for the 'bottom of the pyramid' as well as cultural and community-related businesses that improve the 'quality of life' within a society are the target of impact investments. Among them, a capital financing is one of the most important factor in founding and fostering of social enterprise. However, the capital market for social enterprises in South Korea are not yet sufficiently developed. The Britain and U.S.A. attempted to solve the social problem by the introduction of the social innovation credit model, for example, social impact bonds(SIB), Big Society Capital, DBLIF, and ACCION International, which are considered as an innovative new financing instrument for social program. Instruments are being attempted for the first time in Britain and America. This study have two purposes. The first purpose is abstracting the institutional mechanism for introduction of impact investment such as SIB and DBLIF case in Britain and U.S.A.. Second, analyzing type and mix of policy instrument on impact investment from the perspective of policy instrument.

• Journal of Korea Port Economic Association
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• v.24 no.3
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• pp.101-123
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• 2008

This paper is intended to suggest a development device for Gwangyang Free Economic Zone(GFEZ) to strengthen the competitiveness of its maritime port of Gwangyang and promote the regional development in Gwangyang Bay Area. This study will evaluate the background, processes, and targets for foreign investment, I examined historical treatises as they relate to inducing investments to Free Economic Zones. I will explore good operation and inducing investment methods GFEZ within the 4P(product, price, promotion, place) framework. I tried to suggest a new management methodology for the Free Economic Zones as suggested by the central government from the regional view point. The purpose of this paper is to investigate the marketing strategies; compare them to the 4P for deploying an actual more efficient governing structure body for the GFEZ. As proposals to promote and activate GFEZ, I recommended in this paper several benchmarks. First, GFEZ must construct good clusters related to regional strengths as they relate to products. Second; to give more flexible incentives to foreign companies as compared with China, England, Ireland, India, Malasia, Thailand and Vietnam using prices as a guideline. Third, it is required to cultivate expert manpower who can communicate with foreign clients relate to promotion. A proactive public information system is also required in addition to marketing strategies for inducing investment. Lastly, GFEZ needs to became independent and separate from the central government and even from regional province.

• Proceedings of the Korean Society of Crop Science Conference
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• 2017.06a
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• pp.3-3
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• 2017

The question of how to establish sustainable agricultural systems has become as prominent as questions related to water, energy and climate change. High input/high output agriculture has brought with it many adverse effects; the massive deterioration of soil and water in both quantity and quality, increased greenhouse gas emissions and an increased prevalence of unsafe foods. Additionally, urbanization and climate change has worsened the shortage of farmland and reduced the supply of agricultural water. Given these challenges, maintaining, conserving and efficiently using agri-environmental resources, through fostering of sustainable agriculture, have emerged as key tasks in solving these problems. What is needed therefore is research, based on systematic and comprehensive empirical analyses, that can propose plans and methods for establishing an appropriate sustainable agricultural system. The empirical analysis of sustainable agricultural system is approached separately from economic, environmental and social aspects. An analysis of environment effect reveals that the available phosphate level is 1.3~2.1 times greater than the optimal amount in rice paddies, upland fields and orchards. Further examination has revealed that the excess nutrient is polluting both ground water and surface water. Analytical results for economic feasibility show that factors of production have been invested heavily in the rice crop. Under these conditions, sustainable agriculture, including low-input agriculture, appears to be a possible alternative that will facilitate simultaneous improvements in both economic feasibility and environment effects. Analysis results for sociality reveal that social factors include the value of producer, association and interior networks. Social conditions are comprised of leadership, consumers' awareness, education and conflict solutions. In addition, analysis as to the degree investments contribute to improving agricultural value added has revealed that the direct payment program is the most effective instrument. Experts confirm that economic feasibility can be improved by scientific and well-reasoned nutrient management on the basis of soil testing. Farmers pointed to 'economic factors' as being the largest obstacle to switching to the practice of sustainable agriculture. They also indicate 'uncertainty with regards to sustainable agriculture technology' as an impediment to practicing sustainable agriculture. Even so, farmers who believe environmental and regional issues to be the most pressing problems have expanded their practice of sustainable agriculture. The keys to establishing sustainable agriculture system are classified into the following four aspects. Firstly, from an economic aspect, the research indicates that agricultural policy needs to be integrated with environmental policy and that the function of market making based on the value chain needs to be revitalized. Secondly, from an environmental aspect, there is a need for an optimal resource management system to be established in the agricultural sector. In addition, sustainable agriculture practice will need to be extended with attendant environmentally-friendly and sustainable intensive technology also requiring further development. Thirdly, from a social aspect, green agriculture management needs to be fostered, technology and education extended, and social conflict mediated. Lastly, from a governance aspect, it will be necessary to strengthen good governance, assign and share suitable roles and responsibilities, build a cooperation system and utilize community supported agriculture.

• Journal of Arbitration Studies
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• v.17 no.2
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• pp.101-124
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• 2007

The legal systems and open-door policies to foreign affairs in North Korea have been followed by those of China. Whereas an arbitration system of South Korea accepted most parts of UNCITRAL Model Law, North Korea has succeeded to an arbitration system of a socialist country. China, under the arbitration system of socialist country, enacted an arbitration act reflected from UNCITRAL Model Law for keeping face with international trends. We have used these three arbitration system as a tool for analyzing an arbitration system in North Korea. With an open-door policy, North Korea and China enacted an arbitration act to provide a legal security. Therefore, the core parts of arbitration system in North Korea and China are based on a socialist system while those of South Korea is on liberalism. So, North Korea and China enacted an arbitration act on the basis of institutional arbitration, on the other side, South Korea is based on ad-hoc arbitration. Because of these characters, in terms of party autonomy, it is recognized with the order as South Korea, China and North Korea. Also North Korea enacted separate 'Foreign Economic Arbitration Act' to resolve disputes arising out of foreign economies including commercial things and investments. There are differences in arbitration procedures and appointment of arbitrators : South Korea recognizes parties' autonomy, however parties should follow the arbitration rules of arbitration institutes in North Korea and China. According to an appointment of arbitrators, if parties fail to appoint co-arbitrators or chief arbitrators by a mutual agreement, the court has the right to appoint them. In case of following KCAB's rules, KCAB secretariats take a scoring system by providing a list of candidates. A party has to appoint arbitrators out of the lists provided by arbitration board(or committee) in North Korea. If a party may fail to appoint a chief arbitrator, President of International Trade Arbitration Board(or Committee) may appoint it. In China, if parties fail to appoint a co-arbitrator or a chief arbitrator by a mutual agreement, Secretary general will decide it. If a arbitral tribunal fails to give a final award by a majority decision, a chief arbitrator has the right for a final decision making. These arbitration systems in North Korea and China are one of concerns that our companies take into account in conducting arbitration procedures inside China. It is only possible for a party to enforce a final arbitral award when he applies an arbitration inside North Korea according to International Trade Arbitration Act because North Korea has not joined the New York Convention. It's doubtful that a party might be treated very fairly in arbitration procedures in North Korea because International Trade Promotion Commission controls(or exercises its rights against) International Trade Arbitration Commission(or Board).

• Journal of Arbitration Studies
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• v.19 no.3
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• pp.93-119
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• 2009

Nowadays the number of crimes is increasing rapidly and society is getting more and more dangerous. Recently the criminal aspect of our society, the intelligence, diversity, localized area, as well as for the crime victims also difficult to predict the damage recovery is not easy to change their level of pain and are also serious. This phenomenon is increasingly expected to intensify, the proper response is a factory. The more so if the victim of murder. The criminal mediation working on the operational adjustments Borrower payment, Construction charges, investments and financial transactions due to interpersonal conflicts that occurred as a fraud, embezzlement, breach of trust property crimes such accused, individuals between the defamatory, offensive, encroachment, violating intellectual property rights and private Disputes about the complaint case and other criminal disputes submitted to mediation to resolve it deems relevant to the case who are accused. But the core of a detective control adjustment, adjust the members' representative to the region, including front-line player or a lawyer appointed by the attorney general at this time by becoming parties to this negative view may be ahead. Some scholars are criticizing the current criminal justice system for the absence of proper care for the criminal victims, as an alternative to the traditional criminal justice system. The introduction of the summary trial and related legal cases, the command structure, compensation system, crime victims' structural system can be seen as more classify, crime subject to victim's complaint, By case with a criminal misdemeanor in addition to disagree not punish criminal, minor offense destination, traffic offenders, regular property crime, credit card theft, intellectual property rights violators can be seen due to more categories can try. They sued in law enforcement, Prosecution case has been received and if any one party to the criminal detective Arbitration request arbitration by the parties can agree to immediately contact must be referred to arbitration within 15 days of when the arbitration case will be dismissed. These kinds of early results of the case related to, lawyers are involved directly in the arbitration shall be excluded. Arbitration system is the introduction of criminal justice agencies working to help resolve conflicts caused by adjustment problems will be able to. This article does not argue that we should stick to the traditional justice system as a whole. Instead it argues that the restrictive role of the traditional justice is to be preserved.

• Journal of Arbitration Studies
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• v.24 no.2
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• pp.3-31
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• 2014

As all aspects of international activity have kept growing in good transaction, transnational investments, joint ventures, and the licensing of intellectual property, it is inevitable for disputes to increase across national frontiers. International disputes can be settled by arbitration and ADR. In the situation presented in the paper, any dispute shall be finalized by arbitration and conciliation in the Gaeseong Industrial Complex. Inter-Korean Commercial Arbitration in the Gaeseong Industrial Complex has become the principal method of resolving disputes in trade, commerce, and investment in accordance with the "Agreement on South-North Commercial Dispute Settlement Procedures," "Agreement on Organization and Operation of Inter-Korean Commercial Arbitration Committee," and the Annexed Agreement on "Organization and Operation of Inter-Korean Commercial Arbitration Committee" (2013). But the follow-up measures of the said agreements have not been fulfilled. Some prerequisite measures of the Inter-Korean commercial arbitration must be satisfied. In order to proceed with arbitration and conciliation in the Gaeseong Industrial Complex, we need to ask the following: Does the status of an arbitrational matter? Should an agreement to arbitrate contain a choice of law clause? Should one provide for one arbitrator or three? How should the arbitrators be selected? What is the relation between party-appointed arbitrators and the presiding arbitrator (neutral arbitrator)? Do arbitrators compromise more than the litigation? Can conciliation be combined with arbitration? To execute the enactment of arbitration regulations, the contents of the Arbitration Rules of the Korean Commercial Arbitration Board (South) and the Korea International Trade Arbitration Committee (North), together with the Korean Arbitration Act and External Arbitration Act of North Korea and the UNCITRAL Model Arbitration Law and UNCITRAL l Arbitration Rules are reflected in the Rules. There are many aspects of the Inter-Korean Commercial Arbitration. It is essential to understand key elements; namely, the arbitration agreement, appointment of arbitrator, arbitral proceeding and arbitral award, and enforcement and setting aside of arbitral award. This research deals with five chapters. Chapter 1 provides the introduction. Chapter 2 deals with trade volume between South and North Korea and the kinds of dispute in Gaeseong. Chapter 3 addresses contents and follow-up measures of the agreement on the "South-North Commercial Dispute Settlement Procedures," "Agreement on Organization and Operation of Inter-Korean Commercial Arbitration Committee," and the Annexed Agreement on "Organization and Operation of Inter-Korean Commercial Arbitration Committee" (2013). Chapter 4 features the problems and tasks of the pertinent agreements. Chapter 5 gives the conclusion. Enabling parties to find an amicable solution to the dispute in the Gaeseong Industrial Complex can lead to a useful and appropriate framework either through direct negotiation or by resorting to conciliation or mediation in accordance with pertinent agreements and follow-up measures contained in the agreements.

• KDI Journal of Economic Policy
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• v.29 no.2
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• pp.41-74
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• 2007

This paper aims to assess the effectiveness of Korea's official development assistance (ODA) in terms of improvement in per capita gross domestic product (GDP) of aid recipients, and promotion of Korea's exports and outward foreign direct investments (FDI) to ODA recipients. The assessment has also been done for different groups of aid recipient countries divided by their regional location, income level, and economic freedom. For this purpose, this paper empirically tests the effectiveness of bilateral grants and loans for 163 aid recipient countries during the period of 1990 to 2003. Results show that ODA from Korea had not been able to explain the variations in aid recipient countries' growth in per capita GDP. Provision of aid promoted outward FDI to aid recipient countries during the entire period considered. With respect to exports, provision of aid had facilitated Korea's exports to aid recipient countries, except for the period of 2000~2003. On the basis of the findings, recommendations for future aid policy have been made.

• Journal of Environmental Policy
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• v.10 no.1
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• pp.71-91
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• 2011

The purpose of this paper is to estimate the environmental performance of 29 Chinese provinces by adopting the advanced measurements, integrated pollution intensity index, IPI, which can be computed using Data Envelopment Analysis(DEA) techniques. This index has the advantage of accounting for multiple resources used, good outputs produced and pollutants emitted simultaneously. The result obtained using the methodology shows the obvious evidence that provinces located around eastern area of China take relatively low levels and these phenomenons have been clearly observed throughout the sample period 1998~2007. The estimated index can be interpreted that the environmental burden in China has been steadily decreased as economic growth. This paper also tries to figure out the relationship among IPI, income levels, economic structures, the level of environmental regulations and FDI inflow. The estimated relationship between IPI and income per capita predicts improving environmental performance with increasing income levels. This explains the improvement in IPI which is simultaneously observed with income increases. According to the 'pollution haven hypothesis', many researches have been concerned the possibility that a large amount of foreign capital has been invested in China to avoid the strict environmental standards in advanced countries. However, the estimated coefficients in all model specifications take negative sign with IPI and highly statistical significant. This is a indication that there are positive impacts of foreign investments on IPI by adopting clean and high technologies from advanced countries.

• 한국벤처창업학회:학술대회논문집
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• 2008.04a
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• pp.33-59
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• 2008

Since the late 20th century, due to the globalization of markets and the rapid developments of information and communication technologies, the world has entered into the age of fierce competition. With their abundant low-cost labor, former communist countries such as China, Russia and East Europe and low-developed countries such as India and Brazil have received investments from major industrial companies. There are no other alternatives for Korea and OECD countries to move the industrial economy to the knowledge based innovation system. In knowledge based innovation system, economic development and employment of a region and nation depend solely on the number of its companies and their competitiveness. In this research, after reviewing the current state of technological innovation small companies in korea, we provide a theoretical framework to promote the level of technological innovative entrepreneurship. The framework is based on a value system model that consist of supply factors, demand factors, and supporting institutions. In order to create more innovative small businesses, we insist on the followings. First, more R&D activities related with promising new technologies should be performed. Second, more R&D funds for technological innovation small companies should be provided from governments. Third, more M&A transactions and technology transactions should be marketed freely and competitively. Fourth, more business incubating services and venture capital services should be provided. Fifth, entrepreneurship and innovation culture should be popular and institutionized among people.

• The Journal of the Korea Contents Association
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• v.16 no.3
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• pp.742-759
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• 2016

This study aims to examine effects of service authenticity and service quality on the customer satisfaction and customer loyalty in mediation of customer trust in financial investment company. This research model was validated by the statistical tool of SPSS18.0 and AMOS18.0 using survey data collected from the experienced of financial investment company. The results of this study are summarized as follows. First, service process authenticity has a significant effect with customer satisfaction and customer oriented authenticity has a significant effect with customer satisfaction in mediation of customer trust. Second, service quality(tangibility, reliability, assurance, empathy, except responsiveness) has a positive effect(empathy is the highest of all) with customer satisfaction and the importance of service authenticity and service quality can be confirmed from customer satisfaction and customer loyalty. Third, customer satisfaction and customer loyalty as well as trust and satisfaction have significant effects between them, but there have no significance between trust and loyalty. Finally, this study suggests directions of marketing strategy through build up trust in a strong relationship with the existing loyal customer in financial investment company.