• East Asian Economic Review
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• v.22 no.4
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• pp.507-529
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• 2018

This paper evaluates the whole impact of quantitative easing on inflation in Korea implemented by the central banks in four major advanced economies, the U.S., Euro Area, U.K. and Japan. According to the analysis employing a VAR-X model with the security holdings of those central banks an exogenous variable, quantitative easing is estimated to exert downward pressures on inflation in Korea. Considering the impulse responses of Korean macroeconomic variables to a quantitative easing shock, the spillover effect is transmitted through exchange rate channel while trade channel turns out to be ineffective. In an additional analysis assessing the impact of each quantitative easing program of the central banks, only those of the Fed and European Central Bank are estimated to be significant. The empirical results prove to be robust even if using long-term interest rates as an alternative indicator of quantitative easing.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.66 no.6
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• pp.916-922
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• 2017

Security systems for inland cargo truck transportation are mostly limited to route tracking for safe and efficient transportation. With this route tracking system, the status of cargo trucks can be monitored easily within inland boundaries. In case of oil transportation by land, however, security systems ensuring transportation of a designated quantity of products have been subject to extensive research since thefts and substitution by a similar product in the transportation process have emerged as a social problem. Security devices installed in an oil tank truck must meet the explosion-proof performance standards and be applicable to varying types of trucks. Accordingly, a wireless electronic seal with RF communication functions is considered to be the most appropriate method, but e-seals on moving vehicles require such levels of performance and reliability that can overcome certain challenges including changing radio waves and topographical impediments. Considering these characteristics of oil tank trucks, this study proposes an stabilization method to enhance the RF communication performance of e-seals, based on radio simulation and experiment findings.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.27 no.2
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• pp.361-371
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• 2017

The increase in user data stored in the device implies the increase in threats of users' sensitive data. Currently, smartphone authentication mechanisms such as Pattern Lock, fingerprint recognition are widely used. Although, there exist disadvantages of inconvenience use and dependence that users need to depend on their own memory. User behavior based authentication mechanism have advantages of high convenience by offering continuous authentication when using the mobile device. However, these mechanisms show limitations on low accuracy of authentication and there are researches to improve the accuracy. This paper proposes improved authentication mechanism that uses user's smartphone application usage pattern which has not considered on earlier studies. Also, we analyze performance of proposed mechanism with collected datasets from actual use of smartphone applications.

• International Journal of Computer Science & Network Security
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• v.24 no.5
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• pp.172-180
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• 2024

Since the beginning of 2015, corporate social responsibility (CSR) models have been changing in connection with the trend towards the transition of joint value creation of corporate activities and consideration of stakeholders' interests. The purpose of the academic paper lies in empirically studying the current practice of social responsibility of transnational corporations (TNCs). The research methodology has combined the method of qualitative analysis, the method of cases of agricultural holdings in emerging markets within the framework of resource theory, institutional theory and stakeholders' theory. The results show that the practice of CSR is integrated into the strategy of sustainable development of TNCs, which determine the methods, techniques and forms of communication, as well as areas of stakeholders' responsibility. The internal practice of CSR is aimed at developing norms and standards of moral behaviour with stakeholders in order to maximize economic and social goals. Economic goals are focused not only on making a profit, but also on minimizing costs due to the potential risks of corruption, fraud, conflict of interest. The system of corporate social responsibility of modern TNCs is clearly regulated by internal documents that define the list of interested parties and stakeholders, their areas of responsibility, greatly simplifying the processes of cooperation and responsibility. As a result, corporations form their own internal institutional environment. Ethical norms help to avoid the risks of opportunistic behaviour of personnel, conflicts of interest, cases of bribery, corruption, and fraud. The theoretical value of the research lies in supplementing the theory of CSR in the context of the importance of a complex, systematic approach to integrating the theory of resources, institutional theory, theory of stakeholders in the development of strategies for sustainable development of TNCs, the practice of corporate governance and social responsibility.

• The Korean Journal of Financial Management
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• v.8 no.1
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• pp.139-153
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• 1991

This paper examines the pecuniary effects stemming from insider trading in the equities of firms targeted for acquisition. Illegal exchanges by those having advantageous information are found to result in excessive returns to stockholders of the sought firms. However, unusual market activities are not typical immediately subsequent to the illegal trading date, suggesting that nonpublic information is synthesized by market mechanisms with sufficient speed so that others cannot profit by imitating the better informed traders. The obtained evidence does not support the contention that insider trading on nonpublic information harms the outsider stockholders of involved firms.

• Journal of Korean Library and Information Science Society
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• v.40 no.4
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• pp.327-351
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• 2009

In this study, the actual condition in operating Information Disclosure System and University Information Disclosure was investigated and analyzed for 413 universities which had their own homepages out of the total 414 universities, which were the targets of university information disclosure in 2008. To activate Information Disclosure System of the academic library, how to use Korea Library Statistics Items and National Libraries Operation Assessment Index as the standard of information disclosure, and how to use a national library statistics system effectively were suggested. In addition, to make University Information Disclosure efficient, the amendments about the status of books holdings and library budget were respectively suggested so that the items and contents of disclosure about the status of library support might be disclosed by focusing on the security of finance and the improvement of the academic library. In order to enhance the interest of universities and in society and policy, it is necessary for the academic library to make use of Information Disclosure System and University Information Disclosure as a major means.

• Korean Security Journal
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• no.22
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• pp.91-111
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• 2010

Around the middle of the ninth century the strict bone-rank system of Silla frustrated many people who had political ambition but lacked nobility. They had to seek other ways, including maritime trade. Such an undertaking reflected and also increased their economic and military power. Trade prospered with T'ang China and with Japan as well. The threat of piracy to Silla's thriving maritime trade caused to create a succession of garrisons at important coastal points. Chonghae Jin (Chonghae garrison) was regarded as the most important of these. It was established in 828 by Chang Pogo. Chonghae Jin was on Wando, an island just east of the southwestern tip of Korea and a key place at this time in the trade between China, Korea, and Japan. From this vantage point Chang Pogo became a merchant-prince with extensive holdings and commercial interests in China and with trade contacts with Japan. Although piracy was rampant in East Asia at that time, either the Chinese or Silla government was not able to control it due to inner political strife and lack of policing resources. Infuriated by the piracy and the government's inability to control it, Chang Pogo came back to Silla to fight against the pirates and to protect maritime trade. He persuaded the king of Silla and was permitted to control the private armed forces to sweep away the pirates. In 829 he was appointed Commissioner of Chonghae-Jin with the mission of curbing piracy in that region. Chang's forces were created to protect people from pirates, but also developed into traders among Silla Korea, T'ang China, and Japan in the 9th century. This was geographically possible because the Chonghae Garrison was situated at the midpoint of Korea, China, and Japan, and also because Chang's naval forces actually dominated the East Asia Sea while patrolling sea-lanes. Based on these advantages, Chang Pogo made a great fortune, which might be collected from a charge for protecting people from pirates and the trades with China and Japan. Chang's forces could be termed the first private security company in the Korean history, at least in terms of historical documents. Based on historical documents, the numbers of private soldiers might be estimated to exceed tens of thousands at least, since Chang's forces alone were recorded to be more than ten thousand. Because local powers and aristocratic elites were said to have thousands of armed forces respectively, the extent of private forces was assumed to be vast, although they were available only to the privileged class. In short, the domination of Chang's forces was attributable to the decline of central government and its losing control over local powers. In addition it was not possible without advanced technologies in shipbuilding and navigation.

• KDI Journal of Economic Policy
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• v.32 no.2
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• pp.171-216
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• 2010

With the payment and settlement systems becoming more and more complex and interconnected, the issue of their interdependency rises as an important academic issue as well as a policy topic. This study examines causes, forms, and risk management of interdependencies of payment and settlement systems in Korea, and presents their current situation. By way of simulations using BOF-PSS2 developed by the Bank of Finland, we quantify the effects of an operational disruption on the payment and settlement systems so as to figure out the degree of interdependency. As a result, the secondary round effect reaches up to ￦13.6 trillion a day, which amounts to 7.8% of the daily settlement value. Furthermore, if we also consider the amount of direct operational disruption, the volume of operational disruption occupies 22.3% of total value of the daily settlement, evidencing that the interdependencies of the payment and settlement systems in Korea is enormously widespread. The secondary round effects are found to be more severe with security companies rather than with banks, and to be more depended upon when it is perceived rather than it actually happens. In case that we expand the liquidity to include cash holdings and deposits as assets, the secondary round effect dramatically decreases in all types of financial institutions while foreign banks account for more share of all the secondary round effects increases. Based on these results, we suggest various policy tasks and directions to improve the risk management of settlement systems: expansion of off-setting settlements, introduction of a new settlement system for securities transactions, rapid provision of liquidity to financial institutions, more effective monitoring on participant institutions, and intensified information sharing and cooperation among the systems.

• Journal of Korean Society of Forest Science
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• v.89 no.3
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• pp.440-451
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• 2000

This study was conducted in order to provide essential data and relevant management proposal to conserve and maintain big and old trees in a rational way. For the field survey, 77 big and old trees preserved by the laws in Chollabuk-do, Korea were investigated. The study results are summarized as follows : 1. To conserve and manage big and old trees, the valuable trees have been designated as natural monument trees and protection-needed trees. There are 141 individuals of 37 species designated as natural monuments and 10,049 individuals of 102 species designated as protection-needed trees. 2. Management budget for natural monument trees was devoted at 70% from the national expenditure, but that for protection-needed trees was devoted at 98% from the local expenditure. 3. Standardized sign boards and sign stones for natural monument trees were well placed and other protection facilities such as fences, branch supports and branch holdings were established. On the other hand, management of protection-needed trees was deficient overall. 4. Problems for designation process and management of protection-needed trees could include items such as insufficient management budget, various development activities, land ownership, misjudgement of tree age and species identification, unsatisfaction of sign board placement, insufficient surgery for damaged trees, pavement around tree root system and environmental pollution around the trees. 5. In order to improve the existing management methods of big and old trees, the following schemes were suggested : the development of practical criteria for natural monument and protection-needed trees, nationwide surveys of big and old tree resources, the security of national budget, securing sufficient spaces for the tree growth, specialization of management systems, extended practices of tree form management, establishment of permanent standard signs and consideration of opinions of village residents.