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A Basic Study on the Performance Improvement of Safety Certification Standards (안전인증기준 성능화에 대한 기반 연구)

  • Byeon, Jung-Hwan;Kim, Jung-Gon
    • Journal of the Society of Disaster Information
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    • v.17 no.3
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    • pp.487-499
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    • 2021
  • Purpose:The purpose of the paper is to review the problems of performance enhancement of safety certification standards and to suggest directions for improvement in order to rationalize safety certification standards for future industrial development and environmental changes. Method: The problems and limitations of the safety certification system are summarized through literature review and interview with manager, and the status of safety certification standards is classified into design standards, performance standards, and detailed standards, and the status analysis is performed. In addition, by synthesizing the results of the investigation and analysis, improvements are suggested to improve the performance of the safety certification standards. Result: Through the survey, the problems and limitations of safety certification could be grouped into six categories: government-led certification system operation, standardized certification standards, long time required to improve certification, poor certification standards preparation system, and lack of reflection of industry opinions. And, as a result of analyzing the certification standards by dividing them into performance and design standards, in the case of machinery, equipment, and protection devices, the design standards were high at 69.7% and 64.9%, whereas in the case of protective equipment, the performance standards were high at 61.1%. In order to improve the performance of safety certification standards centered on design standards, it is necessary to determine the possibility of performance enhancement of the certification standards and determine the feasibility of the inspection test method. In order to improve performance, it was reviewed that it was necessary to establish a systemic foundation and infrastructure, such as strengthening the Product Liability Act, systematizing market monitoring, etc., distributing certification test tasks, and participating in the preparation of certification standards by the private sector. Conclusion: Through this study, the problems and limitations of Korea's safety certification system were summarized and the necessity for performance improvement was reviewed. Performance improvement of safety certification standards is a matter that requires preparatory work, such as legislative revision and infrastructure construction, and requires mid-to-long-term promotion. In addition, rather than improving the overall safety certification standards, the performance requirements for each item subject to certification should be reviewed and promoted, and details should be specified through additional research.

Analyzing the discriminative characteristic of cover letters using text mining focused on Air Force applicants (텍스트 마이닝을 이용한 공군 부사관 지원자 자기소개서의 차별적 특성 분석)

  • Kwon, Hyeok;Kim, Wooju
    • Journal of Intelligence and Information Systems
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    • v.27 no.3
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    • pp.75-94
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    • 2021
  • The low birth rate and shortened military service period are causing concerns about selecting excellent military officers. The Republic of Korea entered a low birth rate society in 1984 and an aged society in 2018 respectively, and is expected to be in a super-aged society in 2025. In addition, the troop-oriented military is changed as a state-of-the-art weapons-oriented military, and the reduction of the military service period was implemented in 2018 to ease the burden of military service for young people and play a role in the society early. Some observe that the application rate for military officers is falling due to a decrease of manpower resources and a preference for shortened mandatory military service over military officers. This requires further consideration of the policy of securing excellent military officers. Most of the related studies have used social scientists' methodologies, but this study applies the methodology of text mining suitable for large-scale documents analysis. This study extracts words of discriminative characteristics from the Republic of Korea Air Force Non-Commissioned Officer Applicant cover letters and analyzes the polarity of pass and fail. It consists of three steps in total. First, the application is divided into general and technical fields, and the words characterized in the cover letter are ordered according to the difference in the frequency ratio of each field. The greater the difference in the proportion of each application field, the field character is defined as 'more discriminative'. Based on this, we extract the top 50 words representing discriminative characteristics in general fields and the top 50 words representing discriminative characteristics in technology fields. Second, the number of appropriate topics in the overall cover letter is calculated through the LDA. It uses perplexity score and coherence score. Based on the appropriate number of topics, we then use LDA to generate topic and probability, and estimate which topic words of discriminative characteristic belong to. Subsequently, the keyword indicators of questions used to set the labeling candidate index, and the most appropriate index indicator is set as the label for the topic when considering the topic-specific word distribution. Third, using L-LDA, which sets the cover letter and label as pass and fail, we generate topics and probabilities for each field of pass and fail labels. Furthermore, we extract only words of discriminative characteristics that give labeled topics among generated topics and probabilities by pass and fail labels. Next, we extract the difference between the probability on the pass label and the probability on the fail label by word of the labeled discriminative characteristic. A positive figure can be seen as having the polarity of pass, and a negative figure can be seen as having the polarity of fail. This study is the first research to reflect the characteristics of cover letters of Republic of Korea Air Force non-commissioned officer applicants, not in the private sector. Moreover, these methodologies can apply text mining techniques for multiple documents, rather survey or interview methods, to reduce analysis time and increase reliability for the entire population. For this reason, the methodology proposed in the study is also applicable to other forms of multiple documents in the field of military personnel. This study shows that L-LDA is more suitable than LDA to extract discriminative characteristics of Republic of Korea Air Force Noncommissioned cover letters. Furthermore, this study proposes a methodology that uses a combination of LDA and L-LDA. Therefore, through the analysis of the results of the acquisition of non-commissioned Republic of Korea Air Force officers, we would like to provide information available for acquisition and promotional policies and propose a methodology available for research in the field of military manpower acquisition.

Global Rice Production, Consumption and Trade: Trends and Future Directions

  • Bhandari, Humnath
    • Proceedings of the Korean Society of Crop Science Conference
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    • 2019.09a
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    • pp.5-5
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    • 2019
  • The objectives of this paper are (i) to analyze past trends and future directions of rice production, consumption and trade across the world and (ii) to discuss emerging challenges and future directions in the global rice industry. Rice is a staple food of over half of the world's 7.7 billion people. It is an important economic, social, political, and cultural commodity in most Asian countries. Rice is the $1^{st}$ most widely consumed, $2^{nd}$ largely produced, and $3^{rd}$ most widely grown food crop in the world. It was cultivated by 144 million farms in over 100 countries with harvested area of over 163 million ha producing about 745 million tons paddy in 2018. About 90% of the total rice is produced in Asia. China and India, the biggest rice producers, account for over half of the world's rice production. Between 1960 and 2018, world rice production increased over threefold from 221 to 745 million tons (2.1% per year) due to area expansion from 120 to 163 million ha (0.5% per year) and paddy yield increase from 1.8 to 4.6 t/ha (1.6% per year). The Green Revolution led massive increase in rice production prevented famines, provided food for millions of people, reduced poverty and hunger, and improved livelihoods of millions of Asians. The future increase in rice production must come from yield increase as the scope for area expansion is limited. Rice is the most widely consumed food crop. The world's average per capita milled rice consumption is 64 kilograms providing 19% of daily calories. Asia accounted for 84% of global consumption followed by Africa (7%), South America (3%), and the Middle East (2%). Asia's per capita rice consumption is 100 kilograms per year providing 28% of daily calories. The global and Asian per capita consumption increased from the 1960s to the 1990s but stable afterward. The per capita rice consumption is expected to decline in Asia but increase outside Asia especially in Africa in the future. The total milled rice consumption was about 490 million tons in 2018 and projected to reach 550 million tons by 2030 and 590 million tons by 2040. Rice is thinly traded in international market because it is a highly protected commodity. Only about 9% of the total production is traded in global rice market. However, the volume of global rice trade has increased over six-fold from 7.5 to 46.5 million tons between the 1960s and 2018. A relatively small number of exporting countries interact with a large number of importing countries. The top five rice exporting countries are India, Thailand, Vietnam, Pakistan, and China accounting for 74% of the global rice export. The top five rice importing countries are China, Philippines, Nigeria, European Union and Saudi Arabia accounting for 26% of the global rice import. Within rice varieties, Japonica rice accounts for the highest share of the global rice trade (about 12%) followed by Basmati rice (about 10%). The high concentration of exports to a few countries makes international rice market vulnerable to supply disruptions in exporting countries, leading to higher world prices of rice. The export price of Thai 5% broken rice increased from 198 US$/ton in 2000 to 421 US$/ton in 2018. The volumes of trade and rice prices in the global market are expected to increase in the future. The major future challenges of the rice industry are increasing demand due to population growth, rising demand in Africa, economic growth and diet diversification, competition for natural resources (land and water), labor scarcity, climate change and natural hazards, poverty and inequality, hunger and malnutrition, urbanization, low income in rice farming, yield saturation, aging of farmers, feminization of agriculture, health and environmental concerns, improving value chains, and shifting donor priorities away from agriculture. At the same time, new opportunities are available due to access to new technologies, increased investment by the private sector, and increased global partnership. More investment in rice research and development is needed to develop and disseminate innovative technologies and practices to overcome problems and ensure food and nutrition security of the future population.

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A Study on Policy-making, Leadership and Improvement of Professionalism for Audiovisual Archives Management in Korea (국내 시청각 기록관리 정책 리더십 및 전문성 제고 방안 연구)

  • Choi, Hyo jin
    • The Korean Journal of Archival Studies
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    • no.72
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    • pp.91-163
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    • 2022
  • The focus of this paper lies on the fact that the 'management' and 'utilization' of audiovisual archives are still not specialized in both the public and the private sectors. The use of online video platforms including 'YouTube' has became common. Accordingly the production and collection of high-definition and high-capacity audiovisual archives has been rapidly increasing. However, it also emphasizes that there are no references or principles in the current Public Records Act and its enforcement rules, public standards, and guidelines. This paper ultimately examines the provisions that are related to audiovisual archives of the current Public Records Act, which needed to be revised and enacted due to the lack of an audiovisual archives management manual of national institutions, public broadcasters, and organizations can refer to. In addition, this study tries to find out what kind of systems and guidelines are used in audiovisual archives management. This paper examines the current state of standardization of audiovisual records of the National Archives. It also analyses the systems and the guidelines methodically for efficient audiovisual record management in the public records management sector. It suggests the new direction of relevant public standards and guidelines through this research. Futhermore, it measures to activate the audiovisual management policy-making functions of the National Archives. The necessity of establishing a Public Audiovisual Archives as an organization was also reviewed in this paper. The Public Audiovisual Archives will collect Public Audio and Videos systematically and comprehensively through the legal deposit system. And it will be operated by the management and the utilization system so that it can be used for public as a collective memory. Finally, it will takes a charge of a professional role in audiovisual record management field, such as technology standardization to safeguard and protect the copyrights through this process.

Analysis of Munitions Contract Work Using Process Mining (프로세스 마이닝을 이용한 군수품 계약업무 분석 : 공군 군수사 계약업무를 중심으로)

  • Joo, Yong Seon;Kim, Su Hwan
    • Journal of Intelligence and Information Systems
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    • v.28 no.4
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    • pp.41-59
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    • 2022
  • The timely procurement of military supplies is essential to maintain the military's operational capabilities, and contract work is the first step toward timely procurement. In addition, rapid signing of a contract enables consumers to set a leisurely delivery date and increases the possibility of budget execution, so it is essential to improve the contract process to prevent early execution of the budget and transfer or disuse. Recently, research using big data has been actively conducted in various fields, and process analysis using big data and process mining, an improvement technique, are also widely used in the private sector. However, the analysis of contract work in the military is limited to the level of individual analysis such as identifying the cause of each problem case of budget transfer and disuse contracts using the experience and fragmentary information of the person in charge. In order to improve the contract process, this study analyzed using the process mining technique with data on a total of 560 contract tasks directly contracted by the Department of Finance of the Air Force Logistics Command for about one year from November 2019. Process maps were derived by synthesizing distributed data, and process flow, execution time analysis, bottleneck analysis, and additional detailed analysis were conducted. As a result of the analysis, it was found that review/modification occurred repeatedly after request in a number of contracts. Repeated reviews/modifications have a significant impact on the delay in the number of days to complete the cost calculation, which has also been clearly revealed through bottleneck visualization. Review/modification occurs in more than 60% of the top 5 departments with many contract requests, and it usually occurs in the first half of the year when requests are concentrated, which means that a thorough review is required before requesting contracts from the required departments. In addition, the contract work of the Department of Finance was carried out in accordance with the procedures according to laws and regulations, but it was found that it was necessary to adjust the order of some tasks. This study is the first case of using process mining for the analysis of contract work in the military. Based on this, if further research is conducted to apply process mining to various tasks in the military, it is expected that the efficiency of various tasks can be derived.

Study on US regional human resource development and labor-management-government partnership (미국의 지역 인적자원개발과 지역 노사정 파트너쉽 연구)

  • Jun, Myung-Sook
    • Journal of International Area Studies (JIAS)
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    • v.14 no.2
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    • pp.287-310
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    • 2010
  • Developed nations are increasingly seeking to secure competitiveness in the international market through the development of human resources of workers in high value-added industries. And what is especially important in this process is the fact that workers, employers, and concerned government agencies are participating together in building and improving workers' skills through partnerships. This is based on the perception that workers training programs conducted according to the interest of one side are difficult to bring desired results. For the past decades, Korea has focused mostly on labor-management-government partnerships and strategies for developing the human resources of workers in developed nations in Europe. Related case studies show labor-management-government partnerships in European countries established through powerful trade unions, and interested parties actively cooperate and participate in employment and training programs that benefit both workers and employers. In contrast, studies on human resource development participated by workers and employers are relatively rare in the US, the reason being the lack of a mechanism for establishing labor-management-government partnership due to the country's strong tradition of decentralization and the emphasis on market principles. However, while it is difficult to find such channels for dialogue between workers, employers, and the government in th US on the federal level, there are many regional-level or industry-level programs that tackle common problems through partnerships between interested parties. This study analyzes how the regional labor-management-government partnerships in the US work and examines the types of programs operated by investigating the One-Stop Center based on the Workforce Investment Act and the Wisconsin Regional Training Partnership. While the One-Stop Center is a regional labor-management-government partnership model that is institutionally executed in each state according to the Workforce Investment Act, the WRTP is a regional labor-management -government partnership model led by the private sector. The two examples are introduced in the OECD as best practice examples of regional partnerships, and are key references to Korea's current human resource development policy.

A Study on the Configuration of Chinese Drama and the Connection between Yadam (한문 희곡 <동상기(東廂記)>의 구성과 야담 <동상기찬(東廂記纂)>과의 연계성)

  • Kim, Joon-Hyeong
    • (The) Research of the performance art and culture
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    • no.39
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    • pp.325-355
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    • 2019
  • On June 12, 1791, the old bachelor Kim Hee-jip and the old lady Shin Deok-bin's Daughter get married. The wedding ceremony is a state-led so-called 'virgin virgin bachelor's marriage project'. At that time, the king ordered the recorder to record the case, which is called . The private sector also made it into a work, which is the Chinese drama written by LeeOk(李鈺). was created with the purpose of praising the king, and it inserted entertainment elements into it, so it had a frame of plays, but it did not have a performance in mind from the beginning. LeeOk uses different styles in each of the four acts. He tried to soothe his boredom by setting tales and proverbs in Acts 1 and 2, Pansori in Act 3, and drama in Act 4. In 1918, BaekDooYong(白斗鏞) published DongSangGiChan[東床記纂], which is combines drama and Yadam . In previous studies, these two were perceived as different works, but the two rooms were closely linked: the link was 'someone recognize me[知 己]'. He understood the table of contents made by Lee as 'JaeHyun(才賢)', 'deokhye(德慧)', 'Kwontaek(眷澤)', 'Bokyeon(福 緣)' respectively, and recorded the version of the yadam that fits it in . From acts 1 to 4, Baek contained his desire in it by constructing 'someone recognizes me → I recognize someone → do good things[積善] → blessings[餘慶]'. This is why we can't comprehend and as completely different works.

Research on ITB Contract Terms Classification Model for Risk Management in EPC Projects: Deep Learning-Based PLM Ensemble Techniques (EPC 프로젝트의 위험 관리를 위한 ITB 문서 조항 분류 모델 연구: 딥러닝 기반 PLM 앙상블 기법 활용)

  • Hyunsang Lee;Wonseok Lee;Bogeun Jo;Heejun Lee;Sangjin Oh;Sangwoo You;Maru Nam;Hyunsik Lee
    • KIPS Transactions on Software and Data Engineering
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    • v.12 no.11
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    • pp.471-480
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    • 2023
  • The Korean construction order volume in South Korea grew significantly from 91.3 trillion won in public orders in 2013 to a total of 212 trillion won in 2021, particularly in the private sector. As the size of the domestic and overseas markets grew, the scale and complexity of EPC (Engineering, Procurement, Construction) projects increased, and risk management of project management and ITB (Invitation to Bid) documents became a critical issue. The time granted to actual construction companies in the bidding process following the EPC project award is not only limited, but also extremely challenging to review all the risk terms in the ITB document due to manpower and cost issues. Previous research attempted to categorize the risk terms in EPC contract documents and detect them based on AI, but there were limitations to practical use due to problems related to data, such as the limit of labeled data utilization and class imbalance. Therefore, this study aims to develop an AI model that can categorize the contract terms based on the FIDIC Yellow 2017(Federation Internationale Des Ingenieurs-Conseils Contract terms) standard in detail, rather than defining and classifying risk terms like previous research. A multi-text classification function is necessary because the contract terms that need to be reviewed in detail may vary depending on the scale and type of the project. To enhance the performance of the multi-text classification model, we developed the ELECTRA PLM (Pre-trained Language Model) capable of efficiently learning the context of text data from the pre-training stage, and conducted a four-step experiment to validate the performance of the model. As a result, the ensemble version of the self-developed ITB-ELECTRA model and Legal-BERT achieved the best performance with a weighted average F1-Score of 76% in the classification of 57 contract terms.

Publication Report of the Asian-Australasian Journal of Animal Sciences over its History of 15 Years - A Review

  • Han, In K.
    • Asian-Australasian Journal of Animal Sciences
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    • v.15 no.1
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    • pp.124-136
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    • 2002
  • As an official journal of the Asian-Australasian Association of Animal Production Societies (AAAP), the Asian-Australasian Journal of Animal Sciences (AJAS) was born in February 1987 and the first issue (Volume 1, Number 1) was published in March 1988 under the Editorship of Professor In K. Han (Korea). By the end of 2001, a total of 84 issues in 14 volumes and 1,761 papers in 11,462 pages had been published. In addition to these 14 volumes, a special issue entitled "Recent Advances in Animal Nutrition" (April, 2000) and 3 supplements entitled "Proceedings of the 9th AAAP Animal Science Congress" (July, 2000) were also published. Publication frequency has steadily increased from 4 issues in 1988, to 6 issues in 1997 and to 12 issues in 2000. The total number of pages per volume and the number of original or review papers published also increased. Some significant milestones in the history of the AJAS include that (1) it became a Science Citation Index (SCI) journal in 1997, (2) the impact factor of the journal improved from 0.257 in 1999 to 0.446 in 2000, (3) it became a monthly journal (12 issues per volume) in 2000, (4) it adopted an English editing system in 1999, and (5) it has been covered in "Current Contents/Agriculture, Biology and Environmental Science since 2000. The AJAS is subscribed by 842 individuals or institutions. Annual subscription fees of US$ 50 (Category B) or US$ 70 (Category A) for individuals and US$ 70 (Category B) or US$ 120 (Category A) for institutions are much less than the actual production costs of US$ 130. A list of the 1,761 papers published in AJAS, listed according to subject area, may be found in the AJAS homepage (http://www.ajas.snu.ac.kr) and a very well prepared "Editorial Policy with Guide for Authors" is available in the Appendix of this paper. With regard to the submission status of manuscripts from AAAP member countries, India (235), Korea (235) and Japan (198) have submitted the most manuscripts. On the other hand, Mongolia, Nepal, and Papua New Guinea have never submitted any articles. The average time required from submission of a manuscript to printing in the AJAS has been reduced from 11 months in 1997-2000 to 7.8 months in 2001. The average rejection rate of manuscripts was 35.3%, a percentage slightly higher than most leading animal science journals. The total number of scientific papers published in the AJAS by AAAP member countries during a 14-year period (1988-2001) was 1,333 papers (75.7%) and that by non- AAAP member countries was 428 papers (24.3%). Japanese animal scientists have published the largest number of papers (397), followed by Korea (275), India (160), Bangladesh (111), Pakistan (85), Australia (71), Malaysia (59), China (53), Thailand (53), and Indonesia (34). It is regrettable that the Philippines (15), Vietnam (10), New Zealand (8), Nepal (2), Mongolia (0) and Papua New Guinea (0) have not actively participated in publishing papers in the AJAS. It is also interesting to note that the top 5 countries (Bangladesh, India, Japan, Korea and Pakistan) have published 1,028 papers in total indicating 77% of the total papers being published by AAAP animal scientists from Vol. 1 to 14 of the AJAS. The largest number of papers were published in the ruminant nutrition section (591 papers-44.3%), followed by the non-ruminant nutrition section (251 papers-18.8%), the animal reproduction section (153 papers-11.5%) and the animal breeding section (115 papers-8.6%). The largest portion of AJAS manuscripts was reviewed by Korean editors (44.3%), followed by Japanese editors (18.1%), Australian editors (6.0%) and Chinese editors (5.6%). Editors from the rest of the AAAP member countries have reviewed slightly less than 5% of the total AJAS manuscripts. It was regrettably noticed that editorial members representing Nepal (66.7%), Mongolia (50.0%), India (35.7%), Pakistan (25.0%), Papua New Guinea (25.0%), Malaysia (22.8%) and New Zealand (21.5%) have failed to return many of the manuscripts requested to be reviewed by the Editor-in-Chief. Financial records show that Korea has contributed the largest portion of production costs (68.5%), followed by Japan (17.3%), China (8.3%), and Australia (3.5%). It was found that 6 AAAP member countries have contributed less than 1% of the total production costs (Bangladesh, India, Indonesia, Malaysia, Papua New Guinea and Thailand), and another 6 AAAP member countries (Mongolia, Nepal and Pakistan, Philippine and Vietnam) have never provided any financial contribution in the form of subscriptions, page charges or reprints. It should be pointed out that most AAAP member countries have published more papers than their financial input with the exception of Korea and China. For example, Japan has published 29.8% of the total papers published in AJAS by AAAP member countries. However, Japan has contributed only 17.3% of total income. Similar trends could also be found in the case of Australia, Bangladesh, India, Indonesia, Malaysia and Thailand. A total of 12 Asian young animal scientists (under 40 years of age) have been awarded the AJAS-Purina Outstanding Research Award which was initiated in 1990 with a donation of US$ 2,000-3,000 by Mr. K. Y. Kim, President of Agribrands Purina Korea Inc. In order to improve the impact factor (citation frequency) and the financial structure of the AJAS, (1) submission of more manuscripts of good quality should be encouraged, (2) subscription rate of all AAAP member countries, especially Category B member countries should be dramatically increased, (3) a page charge policy and reprint ordering system should be applied to all AAAP member countries, and (4) all AAAP countries, especially Category A member countries should share more of the financial burden (advertisement revenue or support from public or private sector).

Structural Adjustment of Domestic Firms in the Era of Market Liberalization (시장개방(市場開放)과 국내기업(國內企業)의 구조조정(構造調整))

  • Seong, So-mi
    • KDI Journal of Economic Policy
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    • v.13 no.4
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    • pp.91-116
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    • 1991
  • Market liberalization progressing simultaneously with high and rapidly rising domestic wages has created an adverse business environment for domestic firms. Korean firms are losing their international competitiveness in comparison to firms from LDC(Less Developed Countries) in low-tech industries. In high-tech industries, domestic firms without government protection (which is impossible due to the liberalization policy and the current international status of the Korean economy) are in a disadvantaged position relative to firms from advanced countries. This paper examines the division of roles between the private sector and the government in order to achieve a successful structural adjustment, which has become the impending industrial policy issue caused by high domestic wages, on the one hand, and the opening of domestic markets, on the other. The micro foundation of the economy-wide structural adjustment is actually the restructuring of business portfolios at the firm level. The firm-level business restructuring means that firms in low-value-added businesses or with declining market niches establish new major businesses in higher value-added segments or growing market niches. The adjustment of the business structure at the firm level can only be accomplished by accumulating firm-specific managerial assets necessary to establish a new business structure. This can be done through learning-by-doing in the whole system of management, including research and development, manufacturing, and marketing. Therefore, the voluntary cooperation among the people in the company is essential for making the cost of the learning process lower than that at the competing companies. Hence, firms that attempt to restructure their major businesses need to induce corporate-wide participation through innovations in organization and management, encourage innovative corporate culture, and maintain cooperative labor unions. Policy discussions on structural adjustments usually regard firms as a black box behind a few macro variables. But in reality, firm activities are not flows of materials but relationships among human resources. The growth potential of companies are embodied in the human resources of the firm; the balance of interest among stockholders, managers, and workers of the company' brings the accumulation of the company's core competencies. Therefore, policymakers and economists shoud change their old concept of the firm as a technological black box which produces a marketable commodities. Firms should be regarded as coalitions of interest groups such as stockholders, managers, and workers. Consequently the discussion on the structural adjustment both at the macroeconomic level and the firm level should be based on this new paradigm of understanding firms. The government's role in reducing the cost of structural adjustment and supporting should the creation of new industries emphasize the following: First, government must promote the competition in domestic markets by revising laws related to antitrust policy, bankruptcy, and the promotion of small and medium-sized companies. General consensus on the limitations of government intervention and the merit of deregulation should be sought among policymakers and people in the business world. In the age of internationalization, nation-specific competitive advantages cannot be exclusively in favor of domestic firms. The international competitiveness of a domestic firm derives from the firm-specific core competencies which can be accumulated by internal investment and organization of the firm. Second, government must build up a solid infrastructure of production factors including capital, technology, manpower, and information. Structural adjustment often entails bankruptcies and partial waste of resources. However, it is desirable for the government not to try to sustain marginal businesses, but to support the diversification or restructuring of businesses by assisting in factor creation. Institutional support for venture businesses needs to be improved, especially in the financing system since many investment projects in venture businesses are highly risky, even though they are very promising. The proportion of low-value added production processes and declining industries should be reduced by promoting foreign direct investment and factory automation. Moreover, one cannot over-emphasize the importance of future-oriented labor policies to be based on the new paradigm of understanding firm activities. The old laws and instititutions related to labor unions need to be reformed. Third, government must improve the regimes related to money, banking, and the tax system to change business practices dependent on government protection or undesirable in view of the evolution of the Korean economy as a whole. To prevent rational business decisions from contradicting to the interest of the economy as a whole, government should influence the business environment, not the business itself.

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