• Journal of Climate Change Research
• /
• v.2 no.2
• /
• pp.93-106
• /
• 2011

Republic of Korea officially announced its mid term reduction target which reduce about 30% of BAU GHG emission by 2020 in the 15th meeting of UNFCCC(COP 15) held in Copenhagen, Denmark 2009. To achieve this goal, it is necessary to understand the serious of climate change and take part in GHG reduction not only industry but also the nation. However, such positive participation in green life which may cause inconvenient of the life of the people. It should be accomplished with providing reliable information. This study suggests the scientific potentialities of GHG emission by guideline on low carbon life and green life to form and change a lifestyle suitable for coping with climate change. And also, this study quantitate the GHG reduction which may reduce demand for air conditioning by cool biz and warm biz. In Korea, this campaign has become known as 'CoolMaebsi' by Ministry of Environmental of Korea. 'CoolMaebsi' is a compound word of 'Cool' which means feel refreshed, and 'Maebsi' is a Korean word which means attire. Though this campaign is effective and significant to reduce the GHG emission yet there were no study on quantitative analysis. Therefore this study calculated reduced energy consumption and potential GHG emission by measuring variation of skin temperature. As the result, wearing warm biz and cool biz have an effect of reducing not only the energy consumption but also GHG emission. To achieve the low carbon society, it is necessary to improve the energy saving system and introduce the policy which guide to change a life style.

• The Korean Journal of Archival Studies
• /
• no.35
• /
• pp.41-91
• /
• 2013

There have been numerous steps of growth in policy system since the legal systemization through the enactment of Information Disclosure of public institution Act in 1996 and Records Management of public institution Act in 1999 as well as infrastructure advancement led by government bodies, but it still shows insufficiency in some aspects of information disclosure system and records management. In particular, the issue of reliability on record information disclosed through information disclosure system is raised, and institutional base through the legal and technical devices to ensure the reliability are not well prepared. Government has attempted to enact laws and regulations to guarantee the public right to know through information disclosure and records management at government level, and establish the national system in a way that advances the infrastructure for encouraging the participation in state affairs and utilization of national record information resources. There are limitations that it lacks internal stability and overlooks the impact and significance of record information itself by focusing upon system expansion and disclosing information quantatively. Numerous record information disclosed tends to be falsified, forged, extracted or manufactured by information disclosure staffs, or provided in a form other than official document or draft. In addition, the disclosure or non-disclosure decisions without consistency and criteria due to lack of information disclosure staff or titular supervising authority, which is likely to lead to societal confusion. There are also frequent cases where the reliability is damaged due to voluntary decision, false response or non response depending upon request agents for information disclosure. In other cases, vague request by information disclosure applicant or civil complaint form request are likely to hinder the reliability of record information. Thus it is essential to ensure the reliability of record information by establishing and amending relevant laws and regulations, systemic improvement through organizational and staff expertise advancement, supplementing the information disclosure system and process, and changing the social perception on information disclosure. That is, reliable record information is expected to contribute to genuine governance form administration as well as accountability of government bodies and public organizations. In conclusion, there are needed numerous attempts to ensure the reliability of record information to be disclosure in the future beyond previous trials of perceiving record information as records systematically and focusing upon disclosing more information and external development of system.

• Land and Housing Review
• /
• v.12 no.2
• /
• pp.33-45
• /
• 2021

Due to recent changes in government policy, officetels have received attention as alternative assets, along with the uplift of office and apartment prices in Seoul. However, the current officetel price indexes use small-size samples and, thus, there is a critique on their accuracy. They rely on valuation prices which lag the market trend and do not properly reflect the volatile nature of the property market, resulting in 'smoothing'. Therefore, the purpose of this paper is to create the officetel price index using transaction data. The data, provided by the Ministry of Land, Infrastructure and Transport from 2005 to 2020, includes sales prices and rental prices - Jeonsei and monthly rent (and their combinations). This study employed a repeat sales model for sales, jeonsei, and monthly rent indexes. It also contributes to improving conversion rates (between deposit and monthly rent) as a supplementary indicator. The main findings are as follows. First, the officetel price index and jeonsei index reached 132.5P and 163.9P, respectively, in Q4 2020 (1Q 2011=100.0P). However, the rent index was approximately below 100.0. Sales prices and jeonsei continued to rise due to high demand while monthly rent was largely unchanged due to vacancy risk. Second, the increase in the officetel sales price was lower than other housing types such as apartments and villas. Third, the employed approach has seen a potential to produce more reliable officetel price indexes reflecting high volatility compared to those indexes produced by other institutions, contributing to resolving 'smoothing'. As seen in the application in Seoul, this approach can enhance accuracy and, therefore, better assist market players to understand the market trend, which is much valuable under great uncertainties such as COVID-19 environments.

• KSCE Journal of Civil and Environmental Engineering Research
• /
• v.28 no.5B
• /
• pp.595-601
• /
• 2008

The purpose of this study is to investigate the trends and patterns of various kind of water uses in a household by metering in Korea. Water use components are classified by toilet, washbowl, bathing, laundry, kitchen, miscellaneous. Flow meters are installed in 140 household selected by sampling in all around Korea. The data are gathered by web-based data collection system from the year 2002 to 2006, considering pre-investigated data such as occupation, revenue, family members, housing types, age, floor area, water saving devices, education, miscellaneous. Reliable data are selected by upper fence method for each observed water use component and statistical characteristics are estimated for each residential type to determine liter per capita per day. Estimated domestic per capita day show an indoor water use with the range from 150 lpcd to 169 lpcd for each housing type as the order of high rise apartment, multi-house, and single house. As the order of consuming amount among water use components, it is investigated that toilet (38.5 lpcd) is the first, and the second is laundry water (30.8 lpcd), the third is kitchen (28.4 lpcd), the fourth is bathtub (24.7 lpcd), the next is washbowl (15.4 lpcd). The results are compared with water uses in U.K. and U.S. As life style has been changed into western style, pattern of water use in Korea is tend to be similar with the U.S. water use pattern. Compared with the surveying results by Bradley, on 1985. Thirty liter of total use increased with the advancement of economic level, and a little change of water use pattern can be found. Especially, toilet water take almost half part of total water use and laundry water shows lowest as 11% in surveying at the year of 1985. But, this study shows that 39 liter, 28% of toilet water, has been decreased by the spread of saving devices and campaign. It is supposed that the spread large sized laundry machine make by-hand laundry has been decreased and water use increased. Unit water amount of each end-use in household can be applied to design factor for water and wastewater facilities, and it play a role as information in establishing water demand forecasting and conservation policy.

• Journal of Venture Innovation
• /
• v.4 no.1
• /
• pp.51-65
• /
• 2021

The HR policy in the public sector was closed and operated mainly on written tests, but in 2006, a new evaluation, promotion and education system based on competence was introduced in the promotion and selection system of civil servants. In particular, the seniority-oriented promotion system was evaluated based on competence by operating an Assessment Center related to promotion. Competency evaluation is known to be the most reliable and valid evaluation method among the evaluation methods used to date and is also known to have high predictive feasibility for performance. In 2001, 19 government standard competency models were designed. In 2006, the competency assessment was implemented with the implementation of the high-ranking civil service team system. In the public sector, the purpose of the competency evaluation is mainly to select third-grade civil servants, assign fourth-grade civil servants, and promotion fifth-grade civil servants. However, competency assessments in the public sector differ in terms of competency assessment objectives, assessment processes and competency assessment programmes compared to those in the private sector. For the purposes of competency assessment, the public sector is for the promotion of candidates, and the private sector focuses on career development and fostering. Therefore, it is not continuously developing capabilities than the private sector and is not used to enhance performance in performing its duties. In relation to evaluation items, the public sector generally operates a system that passes capacity assessment at 2.5 out of 5 for 6 competencies, lacks feedback on what competencies are lacking, and the private sector uses each individual's competency score. Regarding the selection and operation of evaluators, the public sector focuses on fairness in evaluation, and the private sector focuses on usability, which is inconsistent with the aspect of developing capabilities and utilizing human resources in the right place. Therefore, the public sector should also improve measures to identify outstanding people and motivate them through capacity evaluation and change the operation of the capacity evaluation system so that they can grow into better managers through accurate reports and individual feedback

• Korean small business review
• /
• v.31 no.2
• /
• pp.85-102
• /
• 2009

With the continued globalization of world markets, transfer pricing has become one of the dominant sources of controversy in international taxation. Transfer pricing is the process by which a multinational corporation calculates a price for goods and services that are transferred to affiliated entities. Consider a Korean electronic enterprise that buys supplies from its own subsidiary located in China. How much the Korean parent company pays its subsidiary will determine how much profit the Chinese unit reports in local taxes. If the parent company pays above normal market prices, it may appear to have a poor profit, even if the group as a whole shows a respectable profit margin. In this way, transfer prices impact the taxable income reported in each country in which the multinational enterprise operates. It's importance lies in that around 60% of international trade involves transactions between two related parts of multinationals, according to the OECD. Multinational enterprises (hereafter MEs) exert much effort into utilizing organizational advantages to make global investments. MEs wish to minimize their tax burden. So MEs spend a fortune on economists and accountants to justify transfer prices that suit their tax needs. On the contrary, local governments are not prepared to cope with MEs' powerful financial instruments. Tax authorities in each country wish to ensure that the tax base of any ME is divided fairly. Thus, both tax authorities and MEs have a vested interest in the way in which a transfer price is determined, and this is why MEs' international transfer prices are at the center of disputes concerned with taxation. Transfer pricing issues and practices are sometimes difficult to control for regulators because the tax administration does not have enough staffs with the knowledge and resources necessary to understand them. The authors examine transfer pricing practices to provide relevant resources useful in designing tax incentives and regulation schemes for policy makers. This study focuses on identifying the relevant business and environmental factors that could influence the international transfer pricing of MEs. In this perspective, we empirically investigate how the management perception of related variables influences their choice of international transfer pricing methods. We believe that this research is particularly useful in the design of tax policy. Because it can concentrate on a few selected factors in consideration of the limited budget of the tax administration with assistance of this research. Data is composed of questionnaire responses from foreign firms in Korea with investment balances exceeding one million dollars in the end of 2004. We mailed questionnaires to 861 managers in charge of the accounting departments of each company, resulting in 121 valid responses. Seventy six percent of the sample firms are classified as small and medium sized enterprises with assets below 100 billion Korean won. Reviewing transfer pricing methods, cost-based transfer pricing is most popular showing that 60 firms have adopted it. The market-based method is used by 31 firms, and 13 firms have reported the resale-pricing method. Regarding the nationalities of foreign investors, the Japanese and the Americans constitute most of the sample. Logistic regressions have been performed for statistical analysis. The dependent variable is binary in that whether the method of international transfer pricing is a market-based method or a cost-based method. This type of binary classification is founded on the belief that the market-based method is evaluated as the relatively objective way of pricing compared with the cost-based methods. Cost-based pricing is assumed to give mangers flexibility in transfer pricing decisions. Therefore, local regulatory agencies are thought to prefer market-based pricing over cost-based pricing. Independent variables are composed of eight factors such as corporate tax rate, tariffs, relations with local tax authorities, tax audit, equity ratios of local investors, volume of internal trade, sales volume, and product life cycle. The first four variables are included in the model because taxation lies in the center of transfer pricing disputes. So identifying the impact of these variables in Korean business environments is much needed. Equity ratio is included to represent the interest of local partners. Volume of internal trade was sometimes employed in previous research to check the pricing behavior of managers, so we have followed these footsteps in this paper. Product life cycle is used as a surrogate of competition in local markets. Control variables are firm size and nationality of foreign investors. Firm size is controlled using dummy variables in that whether or not the specific firm is small and medium sized. This is because some researchers report that big firms show different behaviors compared with small and medium sized firms in transfer pricing. The other control variable is also expressed in dummy variable showing if the entrepreneur is the American or not. That's because some prior studies conclude that the American management style is different in that they limit branch manger's freedom of decision. Reviewing the statistical results, we have found that managers prefer the cost-based method over the market-based method as the importance of corporate taxes and tariffs increase. This result means that managers need flexibility to lessen the tax burden when they feel taxes are important. They also prefer the cost-based method as the product life cycle matures, which means that they support subsidiaries in local market competition using cost-based transfer pricing. On the contrary, as the relationship with local tax authorities becomes more important, managers prefer the market-based method. That is because market-based pricing is a better way to maintain good relations with the tax officials. Other variables like tax audit, volume of internal transactions, sales volume, and local equity ratio have shown only insignificant influence. Additionally, we have replaced two tax variables(corporate taxes and tariffs) with the data showing top marginal tax rate and mean tariff rates of each country, and have performed another regression to find if we could get different results compared with the former one. As a consequence, we have found something different on the part of mean tariffs, that shows only an insignificant influence on the dependent variable. We guess that each company in the sample pays tariffs with a specific rate applied only for one's own company, which could be located far from mean tariff rates. Therefore we have concluded we need a more detailed data that shows the tariffs of each company if we want to check the role of this variable. Considering that the present paper has heavily relied on questionnaires, an effort to build a reliable data base is needed for enhancing the research reliability.

• Journal of Intelligence and Information Systems
• /
• v.26 no.2
• /
• pp.105-129
• /
• 2020

This study uses corporate data from 2012 to 2018 when K-IFRS was applied in earnest to predict default risks. The data used in the analysis totaled 10,545 rows, consisting of 160 columns including 38 in the statement of financial position, 26 in the statement of comprehensive income, 11 in the statement of cash flows, and 76 in the index of financial ratios. Unlike most previous prior studies used the default event as the basis for learning about default risk, this study calculated default risk using the market capitalization and stock price volatility of each company based on the Merton model. Through this, it was able to solve the problem of data imbalance due to the scarcity of default events, which had been pointed out as the limitation of the existing methodology, and the problem of reflecting the difference in default risk that exists within ordinary companies. Because learning was conducted only by using corporate information available to unlisted companies, default risks of unlisted companies without stock price information can be appropriately derived. Through this, it can provide stable default risk assessment services to unlisted companies that are difficult to determine proper default risk with traditional credit rating models such as small and medium-sized companies and startups. Although there has been an active study of predicting corporate default risks using machine learning recently, model bias issues exist because most studies are making predictions based on a single model. Stable and reliable valuation methodology is required for the calculation of default risk, given that the entity's default risk information is very widely utilized in the market and the sensitivity to the difference in default risk is high. Also, Strict standards are also required for methods of calculation. The credit rating method stipulated by the Financial Services Commission in the Financial Investment Regulations calls for the preparation of evaluation methods, including verification of the adequacy of evaluation methods, in consideration of past statistical data and experiences on credit ratings and changes in future market conditions. This study allowed the reduction of individual models' bias by utilizing stacking ensemble techniques that synthesize various machine learning models. This allows us to capture complex nonlinear relationships between default risk and various corporate information and maximize the advantages of machine learning-based default risk prediction models that take less time to calculate. To calculate forecasts by sub model to be used as input data for the Stacking Ensemble model, training data were divided into seven pieces, and sub-models were trained in a divided set to produce forecasts. To compare the predictive power of the Stacking Ensemble model, Random Forest, MLP, and CNN models were trained with full training data, then the predictive power of each model was verified on the test set. The analysis showed that the Stacking Ensemble model exceeded the predictive power of the Random Forest model, which had the best performance on a single model. Next, to check for statistically significant differences between the Stacking Ensemble model and the forecasts for each individual model, the Pair between the Stacking Ensemble model and each individual model was constructed. Because the results of the Shapiro-wilk normality test also showed that all Pair did not follow normality, Using the nonparametric method wilcoxon rank sum test, we checked whether the two model forecasts that make up the Pair showed statistically significant differences. The analysis showed that the forecasts of the Staging Ensemble model showed statistically significant differences from those of the MLP model and CNN model. In addition, this study can provide a methodology that allows existing credit rating agencies to apply machine learning-based bankruptcy risk prediction methodologies, given that traditional credit rating models can also be reflected as sub-models to calculate the final default probability. Also, the Stacking Ensemble techniques proposed in this study can help design to meet the requirements of the Financial Investment Business Regulations through the combination of various sub-models. We hope that this research will be used as a resource to increase practical use by overcoming and improving the limitations of existing machine learning-based models.