• Informatization Policy
• /
• v.22 no.4
• /
• pp.22-44
• /
• 2015

With the growing interest being reflected in the FinTech industry, much attention has been paid to mobile easy payment services as well. In the era of mobile commerce, the core advantage of using mobile easy payment services(simplifying complex payment procedures and thus facilitating user convenience and reducing the chance of giving up payment) are being more emphasized. Mobile easy payment service market not only includes mobile easy payment service providers but also users, non-users, affiliates, banks, and credit card companies as main stakeholders. Exploring those stakeholders is thus important to thoroughly understand such market. However, extant literature on mobile easy payment services mostly focuses on examining adoption intention of users or non-users. This study, an exploratory research based on interviews, thus aims to extract driving as well as inhibiting factors of mobile easy payment service use from six different perspectives (i.e., social platform, bank, credit card company, affiliate, user, and non-user) and analyze a sequence of cause and effect for each factor. For this, the causal loop diagram was developed to deduce key issues and propose an alternative. Theoretical and practical implications of this study will also be discussed.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.39
• /
• pp.143-175
• /
• 2008

The documentary letter of credit is the most preferred and frequently used method in International Payment System in Korea, as it has less possibility of occurring credit risks in export than any other payment system. That's because the exporter can get payment from the issuing bank(confirming bank) by delivering the goods and presenting documents following the required procedure under the letter of credit, as the payment is affirmed by the issuing bank(including the confirming bank in case of the confirmed letter of credit) regardless of the buyer's payment. However, the pattern of payment methods used in international trade of Korea is changing dramatically like the importance of the credit is decreasing continuously among the payment methods while the remittance is increasing. The increase of remittance has a positive aspect that International Payment System are changing into those of advanced countries, but the decrease of the credit also has a negative aspect that the exporter might have a greater credit risks. Therefore, we need a systematic device to deal with this. Exporters in Korea usually have used the export credit insurance to deal with the credit risks However, the export credit insurance also have a limitation as the policy finance due to the limitation based on the credit status of the business and the limitation of acceptance from the lack of financial resources of the government, etc. Korea, which is the 11th export power in the world, has a basic limitation to deal with the credit risks by depending on the export credit insurance only. So, in this thesis, I have studied on the international factoring, forfaiting, which are advanced export finances and widely used in advanced countries, as substitutes to deal with the credit risks. the international factoring is an trade financing in which a factor offers full services such as credit cover, offering prepayment, collection, account receivables, management, etc, instead of the exporter on the account receivables occurred by the exporter's delivering goods to the importer. This international factoring has a high possibility of using as a means to deal with the credit risks, because it offers prepayment without recourse. the forfaiting is another export financing in which a forfaiter purchases the draft, the promissory note and other negotiable instruments issued from the international trade, with fixed interest rate without recourse from the exporter or previous holder. By using this method, they can avoid foreign exchange risks, contingency risks as well as credit risks, as the conveyances like the promissory note, etc are issued with the note warranty so-called 'per aval' in business practice. These trade financing are good substitutes to deal with the credit risks in export, but they are not widely used in Korea. Though it can be explained with various reasons, the common reasons are the lack of understanding on the use of advanced export finance, the lack of experts to manage the advanced trade finance, the conservative way of thinking of domestic organizations related to trade financing, the lack of organizations supporting the trade financing, etc.

• KSII Transactions on Internet and Information Systems (TIIS)
• /
• v.11 no.5
• /
• pp.2628-2645
• /
• 2017

This paper proposes a new offline electronic payment (e-payment) system that satisfies the major security requirements of e-payment, i.e. anonymity, unlinkability, unforgeability, double spending control, conditional traceability, and fraud prevention. The central idea is the use of Hwang et al.'s RSA-based untraceable blind signature (BS), which disables the link between the e-coin and its owner and ensures the anonymity of both the customer and the merchant. It attaches an expiration, a deposit and the transaction dates to each e-coin in order to manage the database of the bank effectively, to correctly calculate the interest on the e-coin and to aid arbitration if a dishonest customer attempts to double-spend the coin. It also ensures the anonymity of the customer as long as the coin is spent legitimately. Only when a fraudulent e-coin transaction is detected can the bank, with the help of the central authority (a trusted entity), determine the identity of the dishonest customer. The system is referred to as offline since the bank does not need to be concurrently involved in transactions between a customer and a merchant. Finally, analyses of the performance of the prototype and the primary security requirements of the proposed system are also presented.

• Korean Journal of Remote Sensing
• /
• v.39 no.6_1
• /
• pp.1467-1475
• /
• 2023

The public-interest direct payment program involves providing direct payments to agricultural producers and rural residents through public funds, premised on performing public functions such as environmental conservation, stable food supply, and maintaining rural communities via agricultural activities. Scientific estimation of crop cultivation areas and production levels is crucial for formulating agricultural policies linked to regulating food supply, which increasingly impacts the national economy. Conducting comprehensive on-site inspections for compliance monitoring of direct payment programs has shown very low efficiency in relation to budget and time. The expansion of areas subject to compliance monitoring and various challenges in on-site inspections necessitate streamlining current monitoring methods and devising effective strategies. As a solution, the application of Remote Sensing technology and spatial information utilization, allowing swift acquisition of necessary information for policies without overall on-site visits, is being discussed as an efficient compliance monitoring method. Therefore, this study evaluated the potential use of remote sensing for improving operational efficiency in monitoring compliance with public-interest direct payment programs. Using satellite images during farming seasons in Gimje and Hapcheon, vegetation indices and spatial variations were utilized to identify cultivated areas, presence of mixed crops, validated against on-site inspection data.

• Journal of Convergence Society for SMB
• /
• v.5 no.4
• /
• pp.25-30
• /
• 2015

Recently, interest in Fin-Tech, a compound word of finance and technology, has been increased. However, Fin-Tech that is a mixture of finance and IT is exposed in terms of security. In this paper, we propose a method to solve the security-related problem that occurs in the financial sector where the Fin-Tech is used. Proposed method found out different problems of services which are provided by companies through a variety of financial sectors and described a method to facilitate the security service. In particular, proposed method presents a service plan to secure safety and to minimize the damage. Also, proposed method set an objective to stabilize financial services based on analyzed result after analyzing the problems of existing FinTech security services.

• Journal of the Korean Home Economics Association
• /
• v.38 no.11
• /
• pp.63-75
• /
• 2000

To identify the actual situation of financial information disclosure, a content analysis was performed on pamphlets of a time deposit and a new reserve trust offered by banks and other financial institutes. Although consumers required information on interest rate, tax favor, loan service, protection of brink depositors and bank security to select a financial service account, informations offered on pamphlets are not sufficient. Therefore concrete way of information offer system shoed be developed. In offering interest rate, interest rate after tax deduction or payment at maturity should be also mentioned. Information on tax favor, protection of bank depositors and bank security should be contained in pamphlets as well. Use of easy terms and notes are recommended for developing pamphlets for financial products.

• Journal of the Korean Society for Industrial and Applied Mathematics
• /
• v.26 no.4
• /
• pp.343-352
• /
• 2022

We present the user-friendly graphical user interface design and implementation of Monte Carlo simulation (MCS) for computing option price of the four-underlying asset step-down equity linked securities (ELS) using the Android platform. The ELS has been one of the most important and influential financial products in South Korea. Most ELS products are based on one-, two-, and three-underlying assets. However, currently there is a demand for higher coupon payment from ELS products because of the increased interest rate in financial market. In order to allow the investors to have higher coupon payment, it is necessary to design a multi-asset ELS such as four-asset step-down ELS. We conduct the computational experiments to demonstrate the performance of the Android platform for pricing four-asset step-down ELS. Furthermore, we perform a comparison test with a three-asset step-down ELS.

• Proceeding of Spring/Autumn Annual Conference of KHA
• /
• 2011.04a
• /
• pp.296-300
• /
• 2011

It's well known that housing is one of the largest holdings in household wealth and at the same time the majority of households highly concentrate on it for their wealth accumulation. Coupled with a low interest rate and increasing housing price, the rationale is conspicuous and the propensity to debt-financed consumption becomes strengthened. This research was to examine the risk of home financing. In doing so, the study utilized several secondary data to identify the characteristics of households who finance loans for home buying in three regions of the nation - so-called Bubble 7, Seoul Metropolitan Area, and others. Based on the 2009 KB survey, the major findings were as follows: the majority of the studied households in Seoul Metropolitan Area who owned a house lived in rental housing, housing accounted for 89% of the household wealth, and home loans taken on were a ballon payment amortized for a short-term period (5 years) with an adjustable interest rate. In addition, the payment method most of the households depend on is income. The financing mechanism fueled debt load of the households, and further they are financially very vulnerable to such factors as increase in interest rate, unemployment and market downturn. In the absence of understanding the financial system, the consumption behavior leads to house-poor, so that financial accountability and ethics are addressed while the intervention of the government in home financing system should be more cautious but stimulate financial soundness in household wealth accumulation.

• Proceedings of the Korean Institute Of Construction Engineering and Management
• /
• autumn
• /
• pp.17-22
• /
• 2001

"대가지급"은 시공자(계약상대자)가 계약의 이행을 통해 얻고자 하는 궁극적인 목적이므로 "대가지급"과 관련된 계약조건은 발주자와 시공자 모두에게 공정하고 합리적인 내용이 되어야 할 것인데 우리나라 건설계약에 적용되고 있는 "공사계약일반조건(회계예규 2200.04-104-9, 2001.2.10)"에 규정된 "대가지급" 관련 조항의 내용은 그러한 합리성이 결여되어 있는 문제점이 있다. 대표적인 문제점으로 발주자가 대가지급을 하지 못하거나 지연시키는 경우 지급지연에 따른 이자에 대한 보상규정만을 두고 있을 뿐인데 이는 국제건설계약에 적용되고 있는 계약조건에 규정된 시공자의 권리와는 너무도 큰 차이가 있다 할 것이다. 그러므로 본 고에서는 세계건설시장에서 공정성과 합리성을 인정받고 있는 FIDIC 계약조건에 규정된 "대가지급" 관련 조항의 내용들을 구체적으로 알아보고 이를 통해 우리나라 건설계약에 적용되고 있는 계약조건의 문제점을 파악함으로써 건설제도의 선진화에 일조 하고자 한다.

• Journal of Korea Society of Digital Industry and Information Management
• /
• v.12 no.1
• /
• pp.51-61
• /
• 2016

Because the Apple Pay which created by U.S's Apple Inc. and launch of Samsung pay in last August in domestic, people have high interest in Pin-Tech industries and new method of easy payment. In this paper, it will study newly introduced Pin-Tech industries and marketability of Pin-Tech industries. Also it will propose safe use of Pin-Tech services based on cases in domestic and overseas. This paper is organized as follows. In Chapter 2, it will study concept of Pin-Tech services and status of Pin-Tech services in domestic and overseas. In Chapter 3, it will look technical trends of Pin-Tech services. In Chapter 4, it will propose direction based on analysis of cases of Pin-Tech services. This paper will finish with conclusion in Chapter 5. Given the global trends, Korea is now just took the first steps in new Pin-Tech era. The Pin-Tech services are in situations that it is not yet activated in domestic due to the various financial regulations and procedures. In this paper, it will shows cases of concerns of Pin-Tech services and domestic authentication which relates to easy payment certification. If Pin-Tech services are develop with easy payment certification and adapt to domestic environment and develop based on stability and security as mentioned in this paper, domestic Pin-Tech services and security technology will grow to the world level. Also it requires unceasing research and efforts from relevant government officials, security companies and Pin-Tech ICT companies.