• Journal of Korean Society of Transportation
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• v.35 no.4
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• pp.360-373
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• 2017

The BTO-a projects is the types, which has a demand risk among the type of PPP projects in Korea. When demand risk is realized, private investor encounters financial difficulties due to lower revenue than its expectation and the government may also have a problem in stable infrastructure operation. In this regards, the government has applied various risk sharing policies in response to demand risk. However, the amount of government's risk sharing is the government's contingent liabilities as a result of demand uncertainty, and it fails to be quantified by the conventional NPV method of expressing in the text of the concession agreement. The purpose of this study is to estimate the value of investment risk sharing by the government considering the demand risk in the profit sharing system (BTO-a) introduced in 2015 as one of the demand risk sharing policy. The investment risk sharing will take the form of options in finance. Private investors have the right to claim subsidies from the government when their revenue declines, while the government has the obligation to pay subsidies under certain conditions. In this study, we have established a methodology for estimating the value of investment risk sharing by using the Black - Scholes option pricing model and examined the appropriateness of the results through case studies. As a result of the analysis, the value of investment risk sharing is estimated to be 12 billion won, which is about 4% of the investment cost of the private investment. In other words, it can be seen that the government will invest 12 billion won in financial support by sharing the investment risk. The option value when assuming the traffic volume risk as a random variable from the case studies is derived as an average of 12.2 billion won and a standard deviation of 3.67 billion won. As a result of the cumulative distribution, the option value of the 90% probability interval will be determined within the range of 6.9 to 18.8 billion won. The method proposed in this study is expected to help government and private investors understand the better risk analysis and economic value of better for investment risk sharing under the uncertainty of future demand.

• Korean Journal of Agricultural Science
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• v.44 no.2
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• pp.272-282
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• 2017

In Bangladesh, since the beginning of 21st century, the poultry industry has become an unparalleled platform for a quick profit, the generation of local employment, and the production of cheaper animal proteins. This paper summarizes poultry industry-related facts and figures for Bangladesh, starting from the very beginnings of this sector when poultry farming was part of subsistence family farming only to today's highly commercialized horizon, through personal experiences, secondary data analysis, spot visits, and the sharing of views and ideas with stakeholders. A critical analysis reveals that the poultry industry in Bangladesh may become multi-dimensional and more stable in the near future as it establishes sufficient backward and forward linkages to input and output supplies. We can foresee its passing the very fast growing juvenile stages of higher net profit earning and less responsible then becoming fully mature. The projected demand and production potentials of this sector are increasing, but at a slower pace than before, in the face of some important challenges like emerging disease, higher prices of inputs, consumer preferences, and strong market competition. However, evidence suggests that the production systems of poultry in Bangladesh are entering a new era to cater to the needs of consumers, society, and government as it produces healthier and more diversified, further-processed foods, in the coming years. A better economy in the country, a more health-conscious population, and the availability of new and affordable innovations in this sector might be the driving forces to support the foreseen transformations.

• Journal of Digital Convergence
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• v.16 no.2
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• pp.351-359
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• 2018

The purpose of this research is to arouse attention to the importance of eliminating the 'Shadow Encroaching Phenomena on the Essence' in advertising expression by interdisciplinarily applying ethicality. This research shows that when advertising expression is planned and executed without enough consideration of ethicality, short-term effectiveness to reach goals can be increased, but it is easy to induce an unintended 'Shadows' Boomerang Phenomena'. This research also proposes that such processes arouse consumers' ethical defense mechanisms, possibly causing the 'Shadow Encroaching Phenomena' in the end. In conclusion, this research proposes the following. First, the pursuit of commercial profit in a capitalistic society must be done under the premise of securing a consensus of ethicality in a common society. Second, under the premise of an integrated process of education, sharing, execution, and confirmation of ethicality, companies can achieve both the micro-practical goal of profit pursuit and the macro-environmental goal of ecological sympathy.

• Trans-
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• v.1
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• pp.141-166
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• 2016

France owns a unique film production process with the big share of public funding. In its background there is the most developed film support scheme in the world. We consider the French film industry has the fair competition order than any other country. This study follows the French film production process from the project planning to film screening. It looks into various aspects French cinema: production scale of French films, investment/production agreement, actors casting, decision of the film budget, major investors, staffs' wages and collective convention, screening, overseas sales and profit-sharing. It aims to get across the French film industry, especially the film production sector. As a case study, we choose a romantic comedy, Heartbreaker(L'Arnacœur) made in 2010. This study presents a French film industry structure. It will give you some hints to reconsider the existing problems of Korean film industry, for example, screen monopoly, vertical integration of conglomerates, poor secondary market, low earnings rate… etc.

• The Korean Journal of Franchise Management
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• v.13 no.4
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• pp.23-37
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• 2022

Purpose: The Korean franchise market has undergone drastic growth in recent years. Followed by expansion of franchise business types, relevant legal matters have diversified. Compared to conventional economic laws that focused on resolving problems related to unfair transactions between franchisors and franchisees, more diverse labor laws have emerged recently due to governance and economic dependencies of franchise structure. However, it was found that the business environment of franchisees and working conditions of franchisee employees have not changed accordingly due to the unique structure of franchise business. Though franchisees are entrepreneurs independent from franchisors, they are still under franchising contract with the franchisors. For instance, employees of franchisees have been exposed to malpractices in regard to pay, time, and other working conditions. These malpractices may show the ineffectiveness of current labor laws. Labor management is an important issue for sustainability of franchise businesses. Negative publicity of franchises generated from violating relevant labor laws may have significant negative impact on overall image of franchised brands. However, franchisors should not hold franchisees fully responsible for legal violations in terms of labor management but strive to prevent relevant risks. Thus, the recent amendment in labor law related to increased minimum wage and reduced worktime have called for more attention to effectively implementing the law. Research design, data, and methodology: This study was conducted through a review of franchise-related laws and various institutions and policies. Results: It is further needed for all parties, including franchisors, franchisees, and franchisee employees, to take collaborative actions to improve working conditions of franchisees. Therefore, this study aims to propose appropriate and effective response plans toward recent changes in the Minimum Wage Act, while strengthening sustainability of franchisors, franchisees, and their employees. Conclusions: The proposal mainly contains plans regarding profit-related aids and profit sharing/cost reduction strategies for franchisees, as well as collective bargaining in the franchisor-franchisee relation. More detailed suggestions are included. Conclusions: This proposal may help franchisors and policymakers develop business plans and policies in improving business conditions of franchisees and working conditions of franchisee employees.

• Korean Journal of Environmental Biology
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• v.32 no.4
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• pp.397-402
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• 2014

In June 1992, Convention on Biological Diversity (CBD) was concluded by 158 countries in Rio de Janeiro. And now, 194 member nations are participating in discussions for their own profit. Recently, Nagoya Protocol regarding Access to genetic resources and Benefit-Sharing (ABS) was approved and took effect from October $12^{th}$, 2014. Thus, it is important to understand the impact of CBD and ABS functioning on researchers studying marine biodiversity. Until now, in the previous Conference of the parties to the Convention on Biological Diversity, the interest towards researching marine and marine living resources was relatively low, and accordingly, the discussions regarding marine and marine living resources were delayed. However, in the $12^{th}$ Pyeongchang Conference of the Parties to the Convention on Biological Diversity, the arguments concerning Ecologically or Biologically Significant marine Areas (EBSA) and the other marine related issues were discussed. Although, South Korea has not yet officially joined Nagoya Protocol, however the consultations in regard to Prior and Informed Consent (PIC), Mutually Agreed Terms (MAT) and Global Multilateral Benefit-Sharing Mechanism (GMBSM) were discussed. We belive that as a possessing nation of biological resources, South Korean government authorities should revise their management systems protocol and regulations concerning domestic biological resources, in order to strengthen the information system and help academia and industry to utilize the biological resources abroad easily and effectively.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2006.05a
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• pp.187-192
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• 2006

In the absence of a clear command and control structure, a key challenge in supply chain management is the coordination and alignment of the supply chain members who pursue divergent and often conflicting goals. The newsvendor model is typically used as a framework to quantify the cost of misalignment and to assess the impact of coordination initiatives. This paper considers a fuzzy approach for the newsvendor problem which includes a single manufacturer and a single retailer. We use several fuzzy parameters in the model such as the demand, the wholesale price, and the market sales price. We apply a coordination policy, referred to as buyback, to solve the fuzzy newsvendor problem. Based on the buyback policy, the optimal order quantity of the retailer can be computed, and the possible profits of the members in the supply chain can be calculated with minimum sharing of private information. Focusing on the fuzzy model with buyback policy for the newsvendor problem, we illustrate exemplary fuzzy models. We also illustrate an integration model, which extends a single-manufacturer-single-retailer model to the single-manufacturer-multiple-retailer setting. In the extended model, we consider three coordination policies including quantity discount, profit sharing, and buyback, as well as non-coordination case.

• Korean Management Science Review
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• v.26 no.3
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• pp.185-204
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• 2009

Power bloggers have become one of the most important resources of blog service companies, and only those who attract and secure power bloggers will be able to have competitive edge and profitability in blog related businesses. This study examines the effects of technology acceptance factors and economical factors on the loyalty of power bloggers. The analysis results show that the usefulness, power of social influence and enjoyment positively affect the attitude and intention to continuous use. The relationship between the attitude and intention to continuous use is demonstrated as significant. The economical benefit exhibits weakly positive influence on the attitude to blogging, but not on the intention. This indicates that although many power bloggers receive economic benefits through their blogging activities, such economical benefits do not have big impact on their activities and the intention to use. The blog service providers may use the analysis results when developing new blog services. In particular, the usefulness, which is often considered as one of the most important factors in the success of the blogosphere, is found to have less impact than the enjoyment among power bioggers. This is because blog users, especially power bloggers, use the blog not for a specific purpose or for generating a special product; most of them use the blog to satisfy their own personal desires. When developing blog services, therefore, it is important to cater to the users' enjoyment and their psychological compensation. What is surprising is that the effect of the economical factor is not ad significant as one might have expected. This implies that the new blog services that provide profit sharing or advertising revenue sharing may not be as successful as one would have hoped for in maintaining the loyalty of power bloggers.

• Journal of Digital Convergence
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• v.17 no.9
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• pp.89-95
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• 2019

he purpose of this study is to propose a shared platform service that can deal with used books based on small stores. The volume of used book market has more than doubled since the book price system, and large bookstores are actively participating in the used book market. Used book sharing platform is an advanced form of online used book direct trade and can be easily used by installing applications on the user's mobile phone. The second-hand book sharing platform is not a shared platform that creates a huge profit-making enterprise, but a future-oriented shared platform that can benefit all users of the platform. If the shared platform, which is the core of the fourth industrial revolution, is applied to almost all small stores and utilized as a hub for second-hand book transactions, it will establish itself as a more reasonable market for second-hand book transactions.

• Journal of the Architectural Institute of Korea Planning & Design
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• v.34 no.12
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• pp.3-12
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• 2018

The purpose of this study is to draw implications for revitalizing public-private partnership system that can reduce the financial burden of the government and utilize the creative know-how of the private sector by analyzing the cases of public building construction projects by public-private partnership method in Japan. In this study, first of all, I looked at the current state of public-private partnership policy in Japan and then selected 8 representative projects as an analysis target. Next, in order to grasp the specific situation that is aimed at securing publicity and revitalizing private participation, I analyzed the role sharing between public and private sectors in the maintenance and management of public buildings, and examined the conditions for private revenue facilities. As a result of the analysis, the following implications were drawn. First, the methods of public building construction by public-private partnership in Japan are largely divided into BTO method based on the PFI method, and the method of installing public facilities and private revenue facilities based on the term leasehold rights system. Second, measures were taken to mitigate the burden of the state and local governments in establishing public facilities. Third, the public has delegated to the private sector actively about the role that the private sector can play, expanding the role of private sector widely from design to operation in the public building construction projects. Fourth, in order to actively participate in private sectors and promote regional revitalization, private profit-making projects are widely accepted, but consideration has been given to guarantee a certain level of publicity.