• Journal of Intelligence and Information Systems
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• v.23 no.1
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• pp.23-46
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• 2017

Although there have been cases of evaluating the value of specific companies or projects which have centralized on developed countries in North America and Europe from the early 2000s, the system and methodology for estimating the economic value of individual technologies or patents has been activated on and on. Of course, there exist several online systems that qualitatively evaluate the technology's grade or the patent rating of the technology to be evaluated, as in 'KTRS' of the KIBO and 'SMART 3.1' of the Korea Invention Promotion Association. However, a web-based technology valuation system, referred to as 'STAR-Value system' that calculates the quantitative values of the subject technology for various purposes such as business feasibility analysis, investment attraction, tax/litigation, etc., has been officially opened and recently spreading. In this study, we introduce the type of methodology and evaluation model, reference information supporting these theories, and how database associated are utilized, focusing various modules and frameworks embedded in STAR-Value system. In particular, there are six valuation methods, including the discounted cash flow method (DCF), which is a representative one based on the income approach that anticipates future economic income to be valued at present, and the relief-from-royalty method, which calculates the present value of royalties' where we consider the contribution of the subject technology towards the business value created as the royalty rate. We look at how models and related support information (technology life, corporate (business) financial information, discount rate, industrial technology factors, etc.) can be used and linked in a intelligent manner. Based on the classification of information such as International Patent Classification (IPC) or Korea Standard Industry Classification (KSIC) for technology to be evaluated, the STAR-Value system automatically returns meta data such as technology cycle time (TCT), sales growth rate and profitability data of similar company or industry sector, weighted average cost of capital (WACC), indices of industrial technology factors, etc., and apply adjustment factors to them, so that the result of technology value calculation has high reliability and objectivity. Furthermore, if the information on the potential market size of the target technology and the market share of the commercialization subject refers to data-driven information, or if the estimated value range of similar technologies by industry sector is provided from the evaluation cases which are already completed and accumulated in database, the STAR-Value is anticipated that it will enable to present highly accurate value range in real time by intelligently linking various support modules. Including the explanation of the various valuation models and relevant primary variables as presented in this paper, the STAR-Value system intends to utilize more systematically and in a data-driven way by supporting the optimal model selection guideline module, intelligent technology value range reasoning module, and similar company selection based market share prediction module, etc. In addition, the research on the development and intelligence of the web-based STAR-Value system is significant in that it widely spread the web-based system that can be used in the validation and application to practices of the theoretical feasibility of the technology valuation field, and it is expected that it could be utilized in various fields of technology commercialization.

• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.191-212
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• 1992

This paper discusses the role of money in the process of capital accumulation where financial markets are impeded by contract enforcement problems in the context of overlapping generations framework. In particular, in less developed countries (LDCs) creditors may know little about the repayment capability of potential debtors due to incomplete information so that financial instruments other than money may not acceptable to them. In this paper the impediments to the operation of the private finanical markets are explicitly modelled. We argue that creditors cannot observe actual investment decisions made by the potential borrowers, and as a result, loan contracts may not be fully enforceable. Therefore, a laissez-faire regime may fail to provide the economy with the appropriate financial instruments. Under these circumstances, we introduce a government operated discount window (DW) that acts as an open market buyer of private debt. This theoretical structure represents the practice of governments of many LDCs to provide loans (typically at subsidized interest rates) to preferred borrowers either directly or indirectly through the commercial banking system. It is shown that the DW can substantially overcome impediments to trade which are caused by the credit market failure. An appropriate supply of the DW loan enables producers to purchase the resources they cannot obtain through direct transactions in the credit market. This result obtains even if the DW is subject to the same enforcement constraint that is responsible for the market failure. Thus, the DW intervention implies higher investment and output. However, the operation of the DW may cause inflation. Furthermore, the provision of cheap loans through the DW results in a worse income distribution. Therefore, there is room for welfare enhancing schemes that utilize the higher output to develop. We demonstrate that adequate lump sum taxes-cum-transfers along with the operation of the DW can support an allocation that is Pareto superior to the laissez-faire equilibrium allocation.

• Industry Promotion Research
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• v.5 no.1
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• pp.89-98
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• 2020

This study is to find ways to build economic participation for the elderly through job projects to help the elderly live a pleasant life. The results of this study are as follows. First, the relevant laws must be overhauled. To this end, jobs targeting the elderly should be selected first, and legal procedures should be prepared in the government. Second, they should extend the retirement age and support senior employment businesses. The extension of the retirement age believes that a resumption of the wage structure is inevitable in order to increase employment for senior citizens. It is also desirable to implement policies such as giving tax benefits to companies that employ older people more than a certain percentage of them. Third, there should be self-help efforts by the elderly. Three factors are essential to keep the work of old age pleasant and faithful. In other words, it is important to always learn new knowledge and hone one's ability in order to do a rewarding job of living without health and some economic stability. In conclusion, measures to establish economic participation for the elderly through the work-seeker project will require, among other things, a sufficient extension of the retirement age to allow the elderly to engage in their jobs, while overhauling the system, including legal maintenance.

• Journal of Environmental Health Sciences
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• v.19 no.4
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• pp.51-58
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• 1993

The integrated solid waste management for Seoul Metropolitan city can be established on the basis of the following hierarchy of priorities: 1. Efforts for source reduction should be propelled by both government and citizens to achieve the effects of resource conservation. The adequate production and consumption which are environmentally amenable and sustainable can be induced by the reasonable imposition of deposit money for waste treatment to one-time use products. To accomplish source reduction effectively, the induction of legal and institutional regulation of producer and consumer participation is requisite. 2. For resource recovery, wastes generated should be recycled as far as practicable. Community residents are responsible to separate discharge, the authorities concerned have responsibility of separate collection, and recycling industry should be assissted through tax reduction and financing. Resource separation facilities can be constructed at Kimpo Metropolitan landfill site for wastes not separately collected due to some unavoidable circumstances. 3. Garbage should be composted. Garbage is uneconomical for incineration, because it has high moisture content and low calorie, thus there is no reason for the incineration of garbage even though garbage is classified into combustibles. Composting facilities can be located at sites which are not densely populated and easily accessible to transportation, for example, Kimpo Metropolitan landfill site. Compost produced can be managed by the authorities for the use of fertilizer to a green tract of suburban land and farms. 4. Nonhazardous combustible wastes not recyclable can be utilized for thermal recovery at the incinerators which are completely equipped with pollution control devices. According to the trend of local autonomy and the equity principle of local autonomous entities, incineration facilities of minimal capacity required can be constructed at each districts of Seoul Metropolitan city which have organized local assembly. In case of Yangcheon district, the economically combustible waste quantity is about 260 tons/day which exceeds 150 tons/day, the incineration capacity of existing facility. But, from now on, waste quantity can be reduced substantially by the intensive efforts of citizens for source reduction and recycling and the institutional support of administrative organizations. Especially, it is indispensable for the government to constitute institutional and technological bases that can recycle paper and plastics form 43% of waste generated. A good time for constructing of incineration facilities for municipal solid waste can be postponed to the time that pollution control technologies of domestic enterprises are fully developed to satisfy the standards of air pollution prevention, because the life expectancy of Kimpo Metropolitan landfill site is about 25 years. Within this period, institutional improvements and technological advancements can be attained, while the air qual. ity of Seoul Metropolitan city can be ameliorated to the level to afford incineration facilities. 5. For final disposal, incombustibles and ash are landfilled sanitarily at Kimpo Metropolitan landfill site.

• The Journal of Art Theory & Practice
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• no.3
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• pp.51-66
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• 2005

With the advent of the time when the competitiveness of a nation or a city can be evaluated by the extent of cultural reception, the art exhibitions, like other genres of art, are actively held in various ways by different institutions. The spaces of exhibition offered not only by public museums and galleries but also by private galleries, alternative spaces and open-air exhibition spots are being increased. Likewise, the number of exhibitions organized on a large scale by Biennales and local governments is on the increase. In accordance with actual tendency, the Ministry of Culture and Tourism has planned to increase the number of museums and galleries up to 500 by the year of 2011. Under these circumstances, the actual situation shows that the central and local governments are adopting beneficial measures to support the private galleries such as permission of construction on green belt areas and tax deduction. That is, our society has come to realize that the necessity and importance of public as well as private galleries to play their roles as cultural and educational institution. Now, the number of galleries is growing. Exhibitions are held everywhere. Therefore, spectators have more chance to visit them than before. With these conditions and the growing number of amateurs, social interest in curator organizing exhibitions is getting popular. Because of the rise of curatorial popularity on the social level, the influence of curators which is exercised within the gallery seems to become gradually enlarged. In reality, it is true that the curatorial influence cannot be ignored more than ever for appear in various fields their new features made from their professional cometence. The function of gallery is more strengthened and its position is more heightened than those in 80s. For these reasons, the curators whose playground is the gallery, they may be regarded as invisible power to the artists. Futhermore, their influence as such seems to be more likely because our world of art does not still have any reliable system of art criticism. Nevertheless, considering the actual situation in which national and public galleries as cultural institution would rather exist on the local sentiments or political dynamics than on autonomy, there must be some restrictions for the galleries and the curators to obtain the power. In this context, the actual moment is looked upon as transitional period to make the curatorship settled down. Before discussing the power relevant to curatorship, we are going to examine first the role and function of curator and then the new curatorial role and function at the age of information. Finally, we will see in sequence the development and problems of curatorship, the power and dilemmas of curator.

• Journal of Korean Society of Forest Science
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• v.89 no.5
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• pp.576-584
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• 2000

The term 'greenways' is a fairly new one. The term greenways refer to linear corridors which set aside pieces of nature. The objective of this study was to find out the feasibility of developing greenways in Taegu. Sample of 446 trail users were asked to describe their use patterns and as well as their perceptions of the benefits and problems associated with trails through on-site interviews conducted during the months of July and August of 1999. Trail users in Taegu were predominately male(61%) and over half of the respondents used private vehicle to access to the study areas as compared to 2% of respondents used bicycle. Trail users responded that health & fitness and open space preservation were the two most important benefits, and the provision of trail access to disabled persons was ranked last. As problems at study areas, lack of interpretive information was the biggest problem followed by lack of drinking water, poor trail marking/signs and not enough information. Most(94.1%) of the trail users surveyed indicated that they would support greenways development and 96.8% of respondent would use after greenways development. Willingness to pay for developing greenways was assessed with hypothetical scenario. Average willingness to pay in the survey was 10,200 won as a tax. The development/application of greenways in Taegu would work best when establish a network of trails with environmentally sensitive manner.

• International Area Studies Review
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• v.17 no.4
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• pp.109-130
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• 2013

This study aims to identify the priority for the Gwangyang and Qingdao hinterlands which are in the same category of benchmarking crowed paths. This study has been mainly done with comparison. There is certain limitation to use competitive factors of existing research so, this study has had proper competitive factors deriving from factors analysis and studied hinterland priority of competing factors by AHP. Major results are as follows. First, the factor analysis resulted in 20 factor that were 0.6 or higher loading level of commonality and then these 20 factors were divided into groups: operating factors, service factors, cost factors, port infrastructure factors, and hinterland conditions factors with the rotated component matrix analysis. Second, according to the result of top competitive factors, the best factor was the hinterland condition(0.256). The other factors such as infrastructure, economy, accessibility, incentive, and port traffic in hinterland were highly ranked in terms of general importance using multiple weights. Third, the result of detailed properties importance about the final alternative, Gwangyang hinterland was considered more highly than Qingdao hinterland in the port information system, the support a variety of administrative services, the efficiency of the customs, and the tax benefits.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.12
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• pp.888-895
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• 2020

In the construction industry, off-site construction (OSC) is drawing attention as a production method due to changes in working hours and the supply and demand of manpower. In 1991, there was a policy of spreading and expanding the use of precast concrete (PC) apartment homes, but they have not been actively used so far since they were discontinued due to quality problems. In this study, policy tasks were analyzed to motivate the application of OSC-based PCs in the apartment housing sector, and policy directions were derived by conducting focus group interviews (FGI). Nine policies are suggested regarding the following topics: PC apartment supply quantity provision, priority application of public housing, priority supply of public housing, preferential floor area ratio, funding, tax support, improvement of business area structure, improvement of delivery method, factory certification system, and training of experts. The results of the FGIs are as follows. First, in order to revitalize PC apartment homes, leading efforts from the public sector are required. Second, rather than reorganizing the business sector or introducing a new delivery method, a policy direction that induces the strengthening of cooperation is desirable. Third, PC activation should be promoted on an institutional basis for securing appropriate construction costs and quality.

• The Journal of the Korea Contents Association
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• v.22 no.1
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• pp.250-260
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• 2022

The purpose of this study is to verify the impact of government subsidies and technological innovation on the business performance of Chinese cultural industry enterprises. Therefore, this study takes 238 listed cultural industry enterprises in China from 2015 to 2020 as the object, collects 1175 samples, and uses Stata16 software for empirical analysis. The analysis results are as follows. First, government subsidies have a positive impact on the business performance of Chinese cultural industry enterprises. Second, government subsidies have a positive impact on the scientific and technological innovation of Chinese cultural industry enterprises. Third, scientific and technological innovation has a positive impact on the business performance of Chinese cultural industry enterprises. Fourth, scientific and technological innovation plays a partially mediating role in the relationship between government subsidies and business performance of Chinese cultural industry enterprises. Based on the research results, measures to improve the business performance of cultural industry companies are as follows. First, establish a modern cultural industry market system. Second, the government should expand financial and tax support for cultural industry companies. Third, promote the integration of cultural industries with scientific and technological innovation.

• KDI Journal of Economic Policy
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• v.13 no.4
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• pp.91-116
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• 1991

Market liberalization progressing simultaneously with high and rapidly rising domestic wages has created an adverse business environment for domestic firms. Korean firms are losing their international competitiveness in comparison to firms from LDC(Less Developed Countries) in low-tech industries. In high-tech industries, domestic firms without government protection (which is impossible due to the liberalization policy and the current international status of the Korean economy) are in a disadvantaged position relative to firms from advanced countries. This paper examines the division of roles between the private sector and the government in order to achieve a successful structural adjustment, which has become the impending industrial policy issue caused by high domestic wages, on the one hand, and the opening of domestic markets, on the other. The micro foundation of the economy-wide structural adjustment is actually the restructuring of business portfolios at the firm level. The firm-level business restructuring means that firms in low-value-added businesses or with declining market niches establish new major businesses in higher value-added segments or growing market niches. The adjustment of the business structure at the firm level can only be accomplished by accumulating firm-specific managerial assets necessary to establish a new business structure. This can be done through learning-by-doing in the whole system of management, including research and development, manufacturing, and marketing. Therefore, the voluntary cooperation among the people in the company is essential for making the cost of the learning process lower than that at the competing companies. Hence, firms that attempt to restructure their major businesses need to induce corporate-wide participation through innovations in organization and management, encourage innovative corporate culture, and maintain cooperative labor unions. Policy discussions on structural adjustments usually regard firms as a black box behind a few macro variables. But in reality, firm activities are not flows of materials but relationships among human resources. The growth potential of companies are embodied in the human resources of the firm; the balance of interest among stockholders, managers, and workers of the company' brings the accumulation of the company's core competencies. Therefore, policymakers and economists shoud change their old concept of the firm as a technological black box which produces a marketable commodities. Firms should be regarded as coalitions of interest groups such as stockholders, managers, and workers. Consequently the discussion on the structural adjustment both at the macroeconomic level and the firm level should be based on this new paradigm of understanding firms. The government's role in reducing the cost of structural adjustment and supporting should the creation of new industries emphasize the following: First, government must promote the competition in domestic markets by revising laws related to antitrust policy, bankruptcy, and the promotion of small and medium-sized companies. General consensus on the limitations of government intervention and the merit of deregulation should be sought among policymakers and people in the business world. In the age of internationalization, nation-specific competitive advantages cannot be exclusively in favor of domestic firms. The international competitiveness of a domestic firm derives from the firm-specific core competencies which can be accumulated by internal investment and organization of the firm. Second, government must build up a solid infrastructure of production factors including capital, technology, manpower, and information. Structural adjustment often entails bankruptcies and partial waste of resources. However, it is desirable for the government not to try to sustain marginal businesses, but to support the diversification or restructuring of businesses by assisting in factor creation. Institutional support for venture businesses needs to be improved, especially in the financing system since many investment projects in venture businesses are highly risky, even though they are very promising. The proportion of low-value added production processes and declining industries should be reduced by promoting foreign direct investment and factory automation. Moreover, one cannot over-emphasize the importance of future-oriented labor policies to be based on the new paradigm of understanding firm activities. The old laws and instititutions related to labor unions need to be reformed. Third, government must improve the regimes related to money, banking, and the tax system to change business practices dependent on government protection or undesirable in view of the evolution of the Korean economy as a whole. To prevent rational business decisions from contradicting to the interest of the economy as a whole, government should influence the business environment, not the business itself.