• Korean Management Science Review
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• v.31 no.2
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• pp.49-63
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• 2014

With the huge concerns on the inefficiency of public enterprises, particularly a significant amount of debt, an increasing number of studies have been carried out to analyze the levels of inefficiency and investigate the causes of that inefficiency. However, very limited range of analytical methodologies have been used in the efficiency analysis and moreover, the effects of external factors have been little addressed. This study explores the efficiency of urban railway corporations in Korea by utilizing a method of stochastic frontier analysis (SFA). In particular, the potential effects of external factors including residential and floating populations of a station were statistically analyzed. A total of seven Korean urban railway corporations were selected to compare each other in terms of operational efficiency. The results present three important findings. First, the Cobb-Douglas model was found to be more valid for SFA compared to the Translog model. Second, the efficiencies of urban railway corporations in Seoul and Busan are relatively high whereas those of Daejeon and Gwangju are very low in efficiency in the area of sales revenue. In an aspect of number of transport of passengers, Gwangju Metro also showed the lowest efficiency. Third, the external factors are significantly associated with the efficiency, indicating that the efficiencies of Daejeon Metro and Gwangju Metro would increase while the efficiency of Seoul Metro would decreases when the external variables are excluded in the efficiency analysis. The results provide several meaningful implications for managers of the urban railway corporations as well as policy makers who are attempting to resolve the inefficiency problems of public enterprises.

• Korean Business Review
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• v.17
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• pp.185-214
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• 2004

This paper is focused on the e-business level in Kangwon Province by industries, volumes, employees comparing with nation wide survey output, and analysis of the tasks and problems of e-business in environment, infrastructure, process, manpower, effect. Poor level of Kangwon province was identified. It is important that role clarity and cooperation among central goverment, Kangwon province, large enterprises and small and medium enterprises. Local goverment and regional cities and counties should play a centripetal role of the regional enterprises, and faithfully execute the support policies of the central goverment, and make the unique supporting climate of coopration between the university and enterprises in consideration with situations of each regional characteristics. More specifically, there are widening the infrastructure of e-business for regional enterprises, strenthening educatin and public relation of the electronic commerce, supporting and utilizing the electronic ccommerce research center. Also, fund supporting for SOHO is desirable in consideration of the poor Kangwon land and population, and to enhence the electronic commerce technology of the Kangwon enterprises, relative importance of policy of it is incresing. In conclusion, indices of Kangwon province in all areas of the survey is appeared poor. So efficient and effective policies is needed in each central and regional goverment. To promote Kangwon enterprises, investment in e-business commerce should be expanded.

• International Area Studies Review
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• v.13 no.1
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• pp.219-240
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• 2009

Through the research, we found that the organizational systems of social enterprises in Europe have both properties of limited companies and stock companies in traditional organizational structures such as cooperatives, mutual companies and associations. However, social enterprises pursue interests of entire community, allowing the interested parties to join them in comparison with cooperatives. And for finance, most of the countries mainly use public fund such as national grants, but they are using more sales revenue. However, in our country the organizational systems of social enterprises have been introduced as the government and academic circles discussed expansion of social employment within a short period. So Korean enterprises tend to depend on national support rather than profitable activities for finance. Therefore, we need to develop a Korean convention or social agreement for the organizational systems of social enterprises. Furthermore, it is important for social enterprises to secure safe finance through development of social services and social cultures such as donation.

• Knowledge Management Research
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• v.21 no.2
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• pp.21-40
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• 2020

Korea Credit Guarantee Fund(KODIT) is a public financial institution under the provision of the Korea Credit Guarantee Fund Act. Facing the waves of change both locally and globally, KODIT will serve as 'social value creator' in making a paradigm shift from a large corporation(Conglomerate-dominated) economy to a social enterprise-oriented one based on social economy. This study focuses on the supporting service programs for social enterprises and job creation how it affects the performance of social value creation of KODIT. There is currently no detailed research of the social value in terms of the business and management academic agenda. Therefore, the present study describes the importance of social value creation on the policy financial institution. This study conducted in-depth case study for social value performance. As a public policy financial institution, KODIT exert diverse efforts to correct market failure and achieve inclusive growth. For example, KODIT extends credit guarantee services for the liabilities of promising corporations and stimulates financial and non-financial supporting programs for social enterprises. Although the role of social value and social economy has gained business field attention, few investigations have been conducted to explain how social value is achieved. The present study can thus act as the foundation for exploring the social value creation in the circumstances of public financial institution.

• The Journal of the Convergence on Culture Technology
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• v.9 no.4
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• pp.467-472
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• 2023

Public enterprises for urban development, whose main tasks are housing and land development and building maintenance, have various disaster and safety management responsibilities, and their importance is increasing with the recent full-scale revision of related laws, so it became necessary to establish a management strategy. In this study, by the AHP analyses, we intend to present a reasonable process and results for deriving promotion strategies and tasks and establishing disaster safety management operation goals, emphasizing on the safety management system and ICT-based safety technology

• Journal of Korea Port Economic Association
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• v.33 no.4
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• pp.83-98
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• 2017

Being in the globally competitive environment, public port enterprises which accentuate on the employment of excellent talents to procure competitive advantage are introducing the NCS(National Competency Standards)-based employment system that focuses on job skills. This study mainly aims to analyze the actual status of NCS utilization among public port enterprises and its usefulness as well as performance. The appropriateness, efficiency, satisfaction, comprehensiveness and performance of the current NCS - based employment system were analyzed by using collected data from the recruiting officers and new employees as subjects. And eventually an improvement plan was suggested. The result of analysis shows that the appropriateness and satisfaction level of NCS - based employment system are generally high; while its effectiveness, applicants' recognition and acceptance level as well as performance are slightly higher. Moreover, the job capability and performance on the job of new employee selected by the NCS employment system were analyzed to be higher when the appropriateness and satisfaction level of that system is high. In order to establish NCS - based employment system, early formulation and implementation of job performance assessment system to evaluate the actual abilities and performance of job is necessary. This study suggested the NCS - based employment system is effective for public port enterprises to procure excellent talents, as well as being useful for job preparation of job seekers according to the job competencies requirement of the enterprises. Therefore, this study contributes to the proliferation of NCS - based recruitment system.

• KDI Journal of Economic Policy
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• v.14 no.2
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• pp.3-27
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• 1992

In 1988, the government provided to the low income people 34.1% of the stocks of Pohang Iron & Steel Company through the People's Share Program of Privatization for the first time, and then in 1989 21% of the share of the Korea Electric Power Corporation were also provided to the low income classes through the same way. The purpose of the People's Share Program was known to be to support the low income classes through participating the profit of public enterprises, and also to expand the capital market through the diversification of stock holding structure. Initially, the government planned that the government share of enterprises such as the Citizens National Bank, the Korea Telecommunication Authority would be sold to the low income classes through the People's Share Program step by step. The income support policy, however, was no longer driven after 1989 when the overall stock prices started to decline. In this paper we tried to measure the effect of the privatization scheme of the public enterprises through the People's Share Program. The problems of the People's Share Program of the Pohang Iron & Steel Commpany and the Korea Electric Power Corperation were also identified. Several implications of the privatization scheme of the public enterprise through the People's Share Program by stages were found. The People's Share Program was found to be a non-stable policy measure for the income support of low income classes. The efficiency impact of the privatization through the People's Share Program was found to be non-significant.

• Journal of Climate Change Research
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• v.3 no.4
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• pp.281-291
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• 2012

Forests act as carbon sinks and also improve water resources and biodiversity to climate change. Secure funding, administrative support, and sustainable management systems are essential to conserve forests and to implement international forestry related projects to climate change. Public private partnership (PPP) could be an effective way for forestry sector in developing countries. Awareness analysis should be preceded in order to encourage participation of enterprises for the diversification of funding and the enhancing quality of projects. We conducted a survey targeting more than 129 private enterprises for awareness analysis. As a result, lack of information, complexity of processes and low profit resulted in low interest on forest projects from private enterprises. Improving awareness of recipient countries on forest resources, financial and institutional supports from the public sector, information sharing, performance management and equal partnership between sectors were suggested to encourage PPP in international forestry related projects to climate change.

• Journal of the Economic Geographical Society of Korea
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• v.15 no.1
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• pp.1-25
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• 2012

This paper is the first paper of two linked papers about the FDI of the economic infrastructure-related public companies. This paper analyzes overseas investments of infrastructure public companies which is characterized by state control and support of socio-economic facilities and services. In theoretical consideration the genealogy and characteristics of FDI are examined, and then global FDI trends since 1970, institutional changes and FDI trends in Korea are analyzed. This analysis shows that the globalization of large state-owned enterprises or public companies from developing and transition economies constitutes an important component of FDI and new emerging source of FDI. Finally the objects and strategies of large 10 infrastructure public companies are analyzed in perspectives of features having both advanced and developing economies type.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.4
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• pp.315-324
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• 2022

The goal of this study is to understand better the relationship between hospital bed occupancy rate and cost rigidity as a proxy for the degree of hospital bed congestion, as well as the relationship between the risk of changes in hospital bed occupancy rate and congestion cost, targeting public hospitals. As public hospitals for analysis, we selected hospital projects from the Public Enterprises Survey Reports published by the Department of Public Enterprises, Ministry of Finance, and obtained unbalanced panel data consisting of 1,505 hospitals and 15 years, totaling 12,595 hospitals and years. The analysis revealed that the risk of changes in the bed occupancy rate increases the degree of cost rigidity and leads to a decrease in the variable cost ratio; furthermore, an increase in the bed occupancy rate decreases the degree of cost rigidity and leads to an increase in the variable cost ratio. These findings suggest that although public hospitals are taking managerial actions to avoid congestion costs, congestion costs resulting from higher bed occupancy rates have not been eliminated. The regression analysis results show that even if congestion costs arise as the occupancy rate increases, they are covered by the increase in revenue associated with the increase in the occupancy rate.