• KDI Journal of Economic Policy
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• v.30 no.1
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• pp.211-246
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• 2008

This paper evaluates the role of Korean government in the venture capital industry, in particular in the stages of fund-raising and venture investment. Utilizing data from Korean Venture Capital Association (KVCA), the analysis is conducted for the venture boom and post-boom periods separately. Empirical results show that the government played a significant role in the fund-raising stage in both venture boom and post-boom periods. When it comes to the investment stage, however, the empirical results indicate that the government did not accomplish expected roles. In particular, the government failed to induce investments in the outside funds of which the government had a larger stake toward early-staged firms and guide common stock investments during the venture boom period. The empirical outcomes also show that the government has not properly increased venture investments on high-tech industries during the post-boom period. This paper argues tentative reasons why the policy failures were observed in relation to the policy implications and provide several pieces of supporting evidence.

• 한국벤처창업학회:학술대회논문집
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• 2007.11a
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• pp.81-109
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• 2007

The loan rate of the government loan program offered by the Small Business Corporation(SBC) can be determined as a sum of three factors such as a reference interest rate, a policy aim spread, and a credit risk spread. However the loan rate has been lower than the loan rate in the banking sector. The profit has continually run in the red figures and hence the stability the fund managed by the SBC has been damaged. Even though a policy aim spread could be emphasized, the stability and profitability of the fund should be prioritized. This means that the loan rate of the SBC should be determined such that the loss might not be occurred. This requires the policy aim spread to change from relatively large negative to near zero.

• Korean Journal of Health Education and Promotion
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• v.21 no.3
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• pp.19-33
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• 2004

The focus of this paper is to critically evaluate the contemporary health promotion policy of g Korea and Japan. The primary purpose of this comparative research project is to stimulate policy debate and to strengthen the design and implementation of evidence-based policies that improve population health and reduce health related disparities. For the purpose of the research object we adopted analysis of health promotion(HP) sources. The HP Source which is still under development in Europe, is a potentially valuable tool for global use. This European Commission funded project lead by the London School of Hygiene and Tropical Medicine has brought together organisations from all of the European Union Member States, plus Norway, Iceland, Latvia, Switzerland and the Czech Republic to contribute their data. The findings of this research will be conclude by making recommendations for further comparative studies and in particular how EUHPID and the HP Source tool and database can be expanded for use at global level through the IUHPE. The result as follows: 1. The Health Promotion Act enacted 1995 in Korea and 2000 in Japan. The government has a national document on HP titled Health Plan 2010 and Healthy Korea 2010 in Korea and Healthy Japan 21 in Japan. 2. The Health Plan 2010 of Korea contains 14 goals, i.e. life expectancy, smoking, nutrition, mental health, dental health, reproductive health, hypertension, cerebrovascular diseases, arthritis, diabetes mellitus, cardiovascular diseases, and cancer. It should be emphasized that the Korean HP national document adds 3 goals of health expectancy, reproductive health, and arthritis to its Japanese counterpart. Health Plan 2010 of Korea specifies 37 objectives in 14 goals, and Healthy Japan 21 proposes 48 objectives and 80 targets in 9 goals. 3. Health Plan 2010 and Healthy Japan 21 have not been evaluated yet, and no regular systematic monitoring reporting of HP policies is available in Korea and Japan yet. 4. National Health Promotion Fund is a financial source of HP programs at the national level in Korea. Its annual amount is 736 billion Won(equivalent to approximately 640 million US$), otherwise no specific Health Promotion Fund in Japan.

• Journal of Digital Convergence
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• v.18 no.10
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• pp.147-162
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• 2020

The purpose of this study is to present practical improvement plans for policy fund support in national policy banks through an analysis of the efficiency of policy fund support. It targets small and medium-sized enterprises(SMEs) that received policy funding from national policy banks in '17 and '18 consecutively. As for the analysis method, characteristic analysis and corresponding sample T-test was performed. The analysis results are as follows. First, as a result of analyzing the characteristics of small and medium-sized enterprises, most of the financial funds were concentrated on the manufacturing industry. By region, the western region of Gyeonggi Province, by credit rating, was A grade, technology grade was T5, and the use of funds was mostly concentrated on facility funds. Second, as a result of efficiency analysis, profitability had a positive effect on total capital return, stability had a positive effect on interest compensation ratio, and activity had a positive effect on total capital turnover. In conclusion, it is expected to provide practical improvement plans to support policy funds to influence the growth and distribution of funds appropriate to the needs of SMEs.

• 한국사회정책
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• v.25 no.3
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• pp.151-174
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• 2018

This study investigates the issues in relation to the introduction of the fund-based Korean occupational pension, examining the development plans in the members' perspective. The strong drive from Korean government to introduce the fund-based governance seems to be a sort of strategy to expand coverage in occupational pension. It is not logical that the introduction of the fund-based scheme is likely to cause increase in earning rate and, what is more important is to set the conditions to implement the active investment decision. Also, because the introduction of the fund-based scheme may increase possibility of insolvency, it is necessary to strengthen beneficiary protection or funding rule but, in the short term, it is better to focus on funding rule rather than protection scheme. The introduction of the fund-based scheme suggests the direction that members can actively participate in occupational pension, which means that it is possible to operate occupational pension in the direction of intent of the system.

• The Journal of the Korea Contents Association
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• v.19 no.9
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• pp.550-557
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• 2019

The Film Development Fund was established in 2007 to improve the quality of film arts and promote the Korean film and video industry. As a key resource operated by the Korean Film Council, the film development fund provides various projects including support for the promotion of Korean film creation and production, funding in video-specialized investment associations, export and international exchanges of Korean films, and production of small-scale or short films. This study aims to propose ways to reinvent the film development fund, which is in danger of being depleted. Based on such purpose this study examined the status and problems of the current film development fund and reviewed previous literatures and related discussions. Furthermore, the policies of similar overseas organizations for film promotion including French National Film/Video Center (Centre National du Cinema et de l'image $anim{\acute{e}}e$, CNC) and the British Film Institute (BFI) were reviewed to draw a multi-faceted way to replenish the source of revenue for Korean film development fund.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.6 no.3
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• pp.85-107
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• 2011

This study analyzed the influence of supporting policy fund on financial performance of small & medium sized venture firms. The outcomes are as follows. First, it was found that 11 dependent variables in profitability, stability, activity, and growth represent have significantly positive influence on financial performances 4 years after policy fund rather than prior to the fund. In short, supporting policy fund is found to bring improvement on financial performance. Second, it was found that growth rate in asset as a growth indicator and interest coverage ratio as a stability indicator have significantly positive influence on operating income to sales and ROA, respectively. Third, it was found that operating income to sales as a profitability indicator and asset turnover ratio as an activity indicator have positive influence on current ratio. Finally operating income to sales as a profitability indicator and growth rate in sales as a growth indicator have positive influence on interest coverage ratio.

• Asian Journal of Innovation and Policy
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• v.11 no.3
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• pp.277-292
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• 2022

This study examines the implications on the valuations of privately held firms when stakes are acquired by venture capitalists in India. In addition, the effect of fund size and revenue multiple is considered as a determinant of firm value. The study is based on a sample of 1229 rounds of funding during the period 2007-2015. The data was obtained from Venture Intelligence. Three major observations emerged based on an OLS regression. Firstly, it is observed that the stake acquired by venture capitalists has a negative effect on firm value. It supports the belief that when a firm reaches its maximum valuation from the promoter's perspective, there is a tendency to liquidate additional stakes. Secondly, a positive association between the revenue multiple and valuation is recognized. Thirdly, the convex relationship (U-shaped) between the fund size and firm valuations as seen in the case of developed economies, appears to be non-existent in India.

• KDI Journal of Economic Policy
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• v.41 no.2
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• pp.1-39
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• 2019

This paper utilizes a life-cycle overlapping-generations model to quantify the welfare effects of plans to postpone the depletion of the National Pension Fund. In order for the model to incorporate the rapidly changing demographic structure of Korea fully, we build and calibrate a model in transition directly. The model is considered suitable for analyzing the effects of demographic changes on the Korean economy and the effects of plans to change the National Pension System. According to a simulation of the model, to postpone the depletion of the National Pension Fund for 30 years, the premium rate must be increased to 18.3% from the current rate of 9%. By postponing the depletion of the fund reserve, young and future generations gain significantly at the expense of the older generations. The simulation results should be, however, interpreted as meaning that the current system is unjustifiably partial to the older generations. Moreover, given the current premium rate, it is desirable to strengthen the income-redistribution function of the National Pension System.

• Journal of Hospice and Palliative Care
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• v.20 no.1
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• pp.8-17
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• 2017

Globally, efforts are being made to develop and strengthen a palliative care policy to support a comprehensive healthcare system. Korea has implemented a hospice and palliative care (HPC) policy as part of a cancer policy under the 10 year plan to conquer cancer and a comprehensive measure for national cancer management. A legal ground for the HPC policy was laid by the Cancer Control Act passed in 2003. Currently in the process is legislation of a law on the decision for life-sustaining treatment for HPC and terminally-ill patients. The relevant law has expanded the policy-affected disease group from terminal cancer to cancer, human immunodeficiency virus/acquired immune deficiency syndrome, chronic obstructive pulmonary disease and chronic liver disease/liver cirrhosis. Since 2015, the National Health Insurance (NHI) scheme reimburses for HPC with a combination of the daily fixed sum and the fee for service systems. By the provision type, the HPC is classified into hospitalization, consultation, and home-based treatment. Also in place is the system that designates, evaluates and supports facilities specializing in HPC, and such facilities are funded by the NHI fund and government subsidy. Also needed along with the legal system are consensus reached by people affected by the policy and more realistic fee levels for HPC. The public and private domains should also cooperate to set HPC standards, train professional caregivers, control quality and establish an evaluation system. A stable funding system should be prepared by utilizing the long-term care insurance fund and hospice care fund.