• Journal of Digital Convergence
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• v.16 no.7
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• pp.63-69
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• 2018

This study is to examine the determinants of the elderly poverty by using the Decision-tree analysis. In line with this perspective, this study includes individual characteristics, family characteristics, working characteristics, and periodic income characteristics after retirement as determinants for senior poverty. The study uses data from the Korean Retirement and Income Study based on panel survey and employs the Decision-tree analysis to explain the causes of the elderly poverty. As the result of analysis, earned wage has the greatest effect on the elderly poverty. Depending on status of the earned wage, there are 2 different variable groups. One with no earned wage includes public pension, education, and residence, paid employee and gender in the other with earned wage. Based on the analytical results, the study suggests measures to address the elderly poverty.

• The Journal of the Korea Contents Association
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• v.17 no.9
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• pp.449-465
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• 2017

Small and medium-sized company workers are ill-prepared for retirement due to low wages and poor working conditions, as result, are likely to get into poverty in retirement. The purpose of this study is to conduct a case study on the current status of financial and non-financial retirement preparation of the small and medium-sized company workers. The main findings are as follows. First, the small and medium-sized company workers show the anxiety about retirement. Many pre-retirees worry that their retirement savings may not generate enough income in retirement, and the level of benefits paid in public pension is inadequate. Second, they are preparing for retirement in the areas of finance, health, working after retirement and social activity. Third, they are realistic and practical in retirement decisions makings. they are considering household budget downsizing, cutting education costs, the low-waged job choice and cash flow preference in retirement. The safety and reality in preparation for retirement are top considerations. In conclusion, this case study shows that pre-retirees of small and medium-sized companies are seeking diverse retirement solutions. We need to design integrated and practical retirement planning programs to support their specific retirement needs.

• 한국노년학
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• v.38 no.2
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• pp.271-290
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• 2018

The study aims to analyze the effects of socio-economic deprivation on suicidal ideation. The analysis data were used as a guide for Korea Welfare Panel Study 9. the frequency analysis, mean difference analysis, correlation analysis, and logistic regression were performed by SPSS programs. The results of analysis are as follows. First, The results of frequency analysis by deprivation type showed a high frequency of deprivation in the following order. Experience of not receiving a public pension, experience of being able to work but unemployed, experience of not being able to eat a balanced diet due to financial difficulties, and experience where you had nothing to eat but no more money to buy. Second, the average difference analysis shows that when a person does not have a spouse, the lower the academic background and the income level, the higher the likelihood of suicide. Third, regression analysis shows that the following deprivation patterns have a statistically significant effect on older adults' thoughts of suicide. Experience in which the respondents or their family could not go to hospital because they had no money, experience that move house because is back rent more than 2 months or can not pay rent, experience that they could not afford to buy food and eat well-balanced meals, experience of failing to pay your bills on time, experience of being able to work but not having a job, and experience in which financial difficulties left them short of food and no money to live. Based on such research results, some policy measures, such as the expanding management of medical care benefits cases, the improvement of elderly housing, residential conditions and the diet survey for the elderly, and the expansion of measures to support elderly people's tax rates, were proposed.

• Journal of the Korean Society of Safety
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• v.34 no.1
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• pp.115-121
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• 2019

Background: Due to the diversification and advancement of research, researchers have become to deal with a variety of chemical and biological harmful materials in the laboratories of universities and research institutes and the risk has increased as well. Therefore, it is necessary to strengthen the social safety net for laboratory accidents by strengthening the compensation to the level comparable to that of Korean Workers' Compensation & Welfare Service, when the researchers become physically disabled by laboratory accidents. The purpose of this study is to secure researchers' health rights and to create a research environment where researchers can work with confidence by strengthening the compensation to the level comparable to that of Korean Workers' Compensation & Welfare Service. Method: We analyzed the laboratory accidents by year, injury type, severity of accident and disability grade with the 6 year data from 2011 to 2016, provided by Laboratory Safety Insurance. Based on the analysis result, we predicted the financial impact on Laboratory Safety Insurance if we introduce a compensation annuity by disability grade which is similar to Injury-Disease Compensation Annuity of Korean Workers' Compensation & Welfare Service. Result :As of 2011, the insured number of Laboratory Safety Insurance was approximately 700,000. The Average premium per insured was KRW 3,339 and there were 158 claims. Total claim amount was KRW 130 million, whereas the premium was about KRW 2.3 billion. The loss ratio was very low at 5.75%. If we introduce a compensation annuity by disability grade similar to Injury-Disease Compensation Annuity of Korean Workers' Compensation & Welfare Service, the expected benefit amount for 1 case of disability grade 1 would be KRW 1.6 billion, assuming 2% of interest rate. Given current premium, the loss ratio, the ratio of premium income to claim payment, is expected 41.4% in 2017 and 151.6% in 2026. The increased loss ratio due to the introduce of the compensation annuity by disability grade is estimated to be 11.0% in 2017 and 40.4% in 2026. Conclusion: Currently, laboratories can purchase insurance companies' laboratory safety insurance that meets the standards prescribed by Act on the Establishment of Safe Laboratory Environment. However, if a compensation annuity is introduced, it would be difficult for insurance companies to operate the laboratory safety insurance due to financial losses from a large-scale accident. Therefore, it is desirable that one or designated entities operate laboratory safety insurance. We think that it is more desirable for laboratory safety insurance to be operated by a public entity rather than private entities.

• 한국사회정책
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• v.23 no.1
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• pp.95-123
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• 2016

As Korean society grows rapidly older, a systematic analysis of the determinants of labor supply behavior among the elderly becomes a prerequisite for designing more effective senior employment policies and income security regime for the elderly. Literatures review shows that a majority of previous researches have been ignoring the problem of "endogenous predictor" especially when it comes to the estimation of the effects of the two key variables, education and non-labor income, on labor supply decisions among older people. They have failed to take into consideration the unobserved heterogeneities which might affect both labor supply decisions of the elderly and their levels of education and non-labor income, which means, according to some econometric literatures, that the estimated coefficients of the two predictors can be inconsistent. The paper tries to redress the endogeneity problem by employing a panel logit model with data from the 1st. to 4th. wave of the KLoSA(Korean Longitudinal Survey of Ageing) to estimate the effects of key predictors on the probability of getting jobs among older people(ages of 60 or older). Both a random effects and a fixed effects model reaffirms that non-labor income has a negative effect on the chances of being employed. And a random effects model shows that the effect of education is also negative, as has frequently been reported by previous studies. That means the effects of education and non-labor income on elderly employment remain negative after the effect of unobserved heterogeneities is controled for and the problem of endogenous predictors is redressed through an appropriate panel data analysis. These findings mean, in turn, that when Korean baby-boomers, who had acquired an unprecedentedly higher level of education and were expected to enjoy ever-larger amount of non-labor income than their preceding generations, retires in near future, their incentives to work will become much weaker and the lack of labor-force and the burden of financing increased public pension expenditure will become more troublesome. The paper concludes with recommending some policy initiatives helpful to solve these expected problems.

• 한국노년학
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• v.34 no.2
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• pp.387-407
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• 2014

This study aims to identify the multiple trajectories of depressive symptoms and the characteristics of each trajectory group among the elderly. This study uses five waves of longitudinal data from the Korean Welfare Panel Study (KWPS, 2006-2010). Subjects were older adults aged 60 and over who had completed at least three waves between 2006 and 2010. A total of 4,181 respondents were analyzed. The latent growth mixture model and the multiple logistic regression model were mainly used for data analysis. The major findings were as follows: After controlling for the variables of gender, age, education, marital status, self-assessed health, and poverty, this study identified four different trajectory classes: stable low depressive symptoms (71.8%), high but decreased depressive symptoms (10.6%), moderate but increased depressive symptoms (7.9%), and an increased, then a decreased pattern of depressive symptoms (9.7%). The characteristics of theses trajectories as compared to previous studies were a lower percentage of 'stable low depressive symptoms', no 'persistently high depressive symptoms', and higher level of depressive symptoms. Also, the elderly in the stable low trajectory group had better health status, higher self-esteem and a good relationship with family members, having longer working periods, and more living in non-poverty. In addition, chronic health problems, loss of spouse, and household income differentiated the increased and then decreased pattern from the low stable pattern. Also, age and public pension differentiated the moderated but increased pattern from the low stable pattern. Based on the findings of this study, the researchers suggested political and practical implications for reducing depressive symptoms in later life.

• 한국노년학
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• v.25 no.2
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• pp.109-126
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• 2005

Recently it has been encouraged in developed countries that labor force participation of the elderly is one of the means to cut down the cost of social welfare for them. However, empirical studies have rarely explored how work in later life contributes to national economy. Especially, even though 56.6 percent of elderly workers aged 65 and older engaged in agriculture and forestry in Korea, their contribution has been socio-economically overlooked. This study aims at examining the effect of farming labor in later life on social welfare expenditure. For this purpose, social welfare expenditure was defined as social benefits provided for the elderly by the social security in public sector and measured as transportation allowance, pension, livelihood aid, medical aid, and health insurance in 2003. Data were obtained from National Health Insurance Cooperation and 37 town/village offices and analyzed by 3 age groups; 65~74, 75~84, and 85 and over using SPSS/PC windows program. Results showed that both livelihood and medical support in all age groups were expended more to non-farm than to farm workers. The amount differences per person between them were 113,959~361,132 won in livelihood support and 15,644~51,418 won in medical support. Also, participation in farming influence reduction of livelihood expenditure for the group 65~74 and 75~84 and that of medical expenditure only for the group 65~74. Based on these results, it was estimated the amount of social welfare expenditure reduced by farming labor in later life. The limit of this study and the policy implications of the results are discussed.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.11
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• pp.66-79
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• 2016

A discussion has recently emerged over the increase of approvals of K-REITs, which is concluded on the basis of how to raise funds for business activity, fulfill the expected rate of return and maximize the management of managing investment funds. In addition, corporations need to acknowledge the necessity of the capital structure reflected in the current economic environment and decision-making processes. This research analyzed the characteristics by investment types and influence factors about the debt ratio of K-REITs. The data were collected from general management about business state, investment, and finance from 2002 to 2015 in K-REITs (except for the GFC period of 2007~2009). The results of the research demonstrated the high ratios of the largest shareholder characteristics, which are corporation, pension funds, mutual funds, banks, securities, insurance, and, recently, the increasing ratio of the largest shareholder and major stockholder. The investment of K-REITs is increasing the role of institutional investors that take a leading development of K-REITs. The behaviors of simultaneous investment of institutional investors were analyzed to show that they received higher interest rates than other financial institutions and ran in parallel with attraction and compensation. The results of the multiple regressions analysis, utilizing variables about debt ratio were as follows. The debt ratio showed a negative (-) relation that profitability is increasing, which matches the pecking order theory and trade off theory. On the other hand, investment opportunities (growth potential) showed a negative (-) relation and assets scale that indicated a positive (+) relation. The research results are reflected as follows. K-REITs focused on private equity REITs more than public offering REITs, and in the case of financing the capital of others, loan capital is operated under the guarantee of tangible assets (most of real estate) more than financing of the stock market. Further, after the GFC, the capital of others was actively utilized in K-REITs business, and the debt ratio showed that the determinant factors by the ratio and characteristics of the largest shareholder and investment products.