• The Korean Journal of Financial Management
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• v.26 no.4
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• pp.83-102
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• 2009

Banks traditionally focus on the financial services against the uncertain future liquidity needs, i.e. saving as well as lending. As the business model of banks has been shifted from the originate to hold model to the originate to distribute model since the enactment of Gramm-Leach-Bliley Financial Services Modernization Act in 1999, the financial services encompass information gathering and generating, underwriting and risk sharing through packaging claims for the investors, in addition to the payment and settlement services. Ensued are the financial market integration and diversification of financial services, with which the accessibility to financial services is arguably significantly enhanced. Such integration and diversification necessarily entails the risk of contagion due to the non-fulfilling service over the several other financial services, which would be contained easily under the separate financial services. This paper addresses the pricing of fees for the integrated financial services through which the contagion could spread when the users of financial service are not immune to the failure to fulfill their obligation due to the economic turmoil. Consequently the information asymmetry about the clients is unavoidable. Higher fees could drive out the otherwise good clients out of the pool of customers for the financial services. Then, the risk could be exacerbated due to the proliferation of bad clients who are vulnerable to the financial distress and liquidity crunch. So the banks should take into account the interactional effect of the fees between/among the non interest based activities and interest based activities under the information asymmetry. Contrary to our general perception, the current analysis demonstrates that the bank should focus on the reduction of cost associated with good clients rather than that of bad clients.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.23 no.3
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• pp.167-173
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• 2023

The cash flow matching problem(CFMP) aims to minimize the initial investment by paying the total amount due for the T-year in principal and interest of bonds or bank deposits without paying the full amount in cash. Linear programming(LP) is the only known way to solve CFMP. The linear programming method is a problem that optimizes T linear functions, and it cannot be solved by handwriting, so LINGO, which is a solution to the linear programming method, is used. This paper proposes an algorithm that obtains the solution of CFMP solely by handwriting without the help of LINGO. The proposed algorithm determines the amount of bond purchases by covering payments until the previous year of the next maturity bond in the order that the maturity date falls from the longest to the short term. In addition, until the year before the maturity of the shortest maturity bond, the amount of deposit covered by the principal and interest of the bank deposit was determined. As a result of applying the proposed algorithm to two experimental data, it was shown that more accurate results can be obtained compared to the linear programming method.

• The Journal of the Korea Contents Association
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• v.21 no.4
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• pp.96-110
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• 2021

Korea is faced with the challenge of adapting to the world's fastest - growing low birthrate, aging society, and low growth with low interest rate era. With low fertility and aging population, the factors of financial income of health insurance are decreasing, and the increase of public interest in health, high cost medical technology and the development of medicine are leading to increase expenditure of health insurance. In this study, I will examine the strengthen protection of health insurance, financial stabilization, and fairness of medical care. First, the present status and limitations of health insurance were identified through domestic policy report, domestic and foreign literature, and precedent research. Second, the foreign health insurance policy measures to stabilize the finances were examined separately. Based on this study, in order to maintain sustainable health insurance through reinforcement and financial stabilization of health insurance, the current financial income structure of health insurance must be renovated. It will be necessary to expand government subsidies and discover new tax revenues. In addition, a policy to save finances by reorganizing the medical bill payment system and medical delivery system will also be needed.

• Journal of Korean Society of Rural Planning
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• v.24 no.1
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• pp.89-97
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• 2018

Recently, interest in rural tourism for urban dwellers has increased, and rural communities are chosen as tourist destinations. Under these circumstances, the study was designed to analyze the effects of the quality of service at rural stay sites on customer satisfaction and recommendation intention. The analysis method analyzes the demographic characteristics of the survey participants and characteristics of participation in rural stay. And the quality of service for the experience of rural stay was analyzed with SERVQUAL'S five-dimensional type, reliability, assurance, responsiveness, empathy, tangible and customer satisfaction, intent of recommendation and regression. Major analysis shows that the survey subjects were found to have an average age of 41.8 years, 49 to 59 years old, and a high degree of university graduation. And as characteristic of participation, the form of company was family and relatives, the form of family meeting was many summer, the reservation was Internet, and payment by cash and card were many. As a result of the hypothesis testing, reliability, assurance, responsiveness, and empathy among the quality of service of rural stay were affected in customer satisfaction. In addition, the quality of service and the intent to recommend it were statistically significant, reliability, assurance and empathy. Therefore, it is deemed necessary to make efforts to improve service quality as the quality of service at rural stay places has relevance to customer satisfaction and recommendation intention.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.63
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• pp.25-62
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• 2014

Avoidance refers to the process of terminating a contract because of a non-performance. It implies the right of the aggrieved party to refuse to accept further performance by the other side and to refuse to perform one's own counter-obligations, on a permanent basis. The 1980 U.N. Convention on the International Sale of Goods, hereinafter 'CISG', regulates in Arts. 81-84 the effects of avoidance. The primary effect is that prescribed in Art. 81.1 CISG: both parties are released from their obligations under the contract, subject to any damages which may be due. As seen, the CISG deals with the legal consequences of avoidance, including restitutionary claims. However, a closer look to CISG provisions on restitution reveals that certain matters are left open. For instance, the CISG leaves open questions such as the costs, place and time where restitution is to be made. In this particular, the Convention remains silent as to the consequences of a delayed or refused restitution or the buyer's liability when the goods are damaged or destroyed after the avoidance. In light of the above, the present article attempts to determine the extent to which the modes of restitution are regulated in the CISG and how possible gaps are to be filled.

• Korean Journal of Social Welfare
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• v.41
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• pp.43-67
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• 2000

The main source in financing the National Pension benefits is the contribution raised from the insured's earnings. So, Most of the insured take a great interest in the questions of what return on the payment of contribution National Pension benefits provide and whether there be the difference in return according to earnings level. The Purpose of this study is to assess money's worth of National Pension and to answer the above questions. There are two basic types of money worth analysis, empirical and hopothetical. This study basically belongs to the former in terms that it is based on actual earnings and insured term. For performing money's worth analysis, four different measures which are referred as the "break-even period", the "benefit/tax ratio", the "net lifetime transfer", the "internal rate of return" are used and they all involve the way in which the relationship between the present value of contributions and the present values of benefit is present. The results which evaluate average money's worth of accrued rights before 1999 are le as follows. Break-even period is about 43 months, benefit/tax ratio being 4.9, net lifetime transfers being about 37 mil1ion won, internal rate of return being 33.2%. This verifies that money' worth of National Pension is much higher than actuarially fair. In the mean while, money' worth is proved to be very different according to earnings level. The progressivity relationship between earnings level and rate of return is found in all measures but net lifetime transfer.

• Journal of Distribution Science
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• v.20 no.10
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• pp.61-66
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• 2022

Purpose: Predicting the financial distress distribution of an enterprise is important to warn enterprises about their future. Predicting the possibility of financial distress helps companies have action plans to avoid the possibility of bankruptcy. In this study, the author conducted a forecast of the financial distress distribution of enterprises. Research design, data and methodology: The forecasting method is based on Logit and Discriminant analysis models. The data was collected from companies listed on Vietnam Stock Exchange from 2012 to 2020. In which there are both companies suffer from financial distress and non-financial distress. Results: The forecast analysis results show that the Logistic model has better predictability than the Discriminant analysis model. At the same time, the results also indicate three main factors affecting the financial distress of enterprises at all three research stages: (1) Liquidity, (2) Interest payment, and (3) firm size. In addition, at each stage, the impact of factors on financial distress differs. Conclusions: From the results of this study, the author also made several recommendations to help companies better control company operations to avoid falling into financial distress. Adjustments to current assets, debt, and company expansion considerations are the most important factors for companies.

• East Asian Journal of Business Economics (EAJBE)
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• v.3 no.4
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• pp.9-15
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• 2015

The exchange rate is a very important macro variable that has influence on the whole economy and has, therefore, been the topic of many discussions amongst policymakers, academics and other economic agents. The issue of whether to have a fixed, pegged or floating exchange rate regime was highly debated during the 1970s. The purpose of this paper is to investigate what factors determine the exchange rate in Somalia. Quantitative research methodology has been employed to develop regression model using time series data for the period of 12 years. The regression model has been developed based on Quantity theory of money, purchasing power parity and uncovered interest rate parity theory. Somalia is on the countries where the highest exchange rate volatility exists; for example in 2012, the rate jumped 29% percent and two weak later dropped 21%, when Turkish humanitarian aid agencies injected the market a lot of U.S dollar. Based on my study using regression model for time series data of 12 years, the four factors are mainly attributable for the exchange rate volatility of Somalia; these factors include the balance of payment, inflation rate, money supply (mostly come from remittance and NGOs) and Bank profits.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2007.12a
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• pp.58-59
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• 2007

The English law of ship mortgages is successor to a very long tradition. From the earliest times loans have been required to finance maritime commerce. The term "ship" describes any kind of vessel used in navigation, while the term "ship mortgage" described a method of secured financing, under which a borrower transferred its interest in ship or other property to a creditor, to secure the payment of the debt owed by the borrower or the performance of some their obligation. The shipowner (the borrower)is known as the 'mortgagor, and the person lending the money is known as the 'mortgagee'.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.77
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• pp.169-193
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• 2018

Salvage has been allowed as general average since 1974. However, the adoption of YAR 2004 which had reflects cargo interest's position has made salvage unallowable in general average. The YAR do not have the force of a convention and only apply by mutual agreement between the parties to the contract of carriage. Thus, it is important that any changes to the Rules have the consent of major stakeholder. However, shipowners generally refuged to accept the incorporation of the 2004 Rules. The revised 2016 Rules is the result of compromise between the ship and cargo interests. YAR 2016 Rule VI has the premise that salvage is allowable as general average. However, with regard to the types of salvage that are payable independently by ship and cargo such as under Lloyd's Open Form it does not allow these type of salvages as general average and reapportion them, unless causes significantly inequitable result and meets five conditions. In addition, it makes the adjuster's task much easier as it avoids the deduction in respect of salvage payment can readily be calculated by total amount paid to the salvor. The salvage issue to be dealt with in YAR 2016 reduces the complexity, cost and delay in adjusting general average.