• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2022.06a
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• pp.369-370
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• 2022

In Korea's ship finance, due to the nature of pro-cyclical investment, the private sector's ship finance greatly shrinks during the shipping recession, and policy financial institutions take the lead in ship finance. Meanwhile, the government established the 「Strategy for the Realization of Shipping Industry Leader」 (June 29, '2) and set a development goal by 2030 through support such as securing new high-efficiency ships. To promote financial investment. However, investment in the shipping industry is not easy to induce due to risks and uncertain market conditions. Therefore, it is necessary to review tax benefits that can induce joint investment of investors at the government level. Therefore, it is necessary to introduce a Korean version of tax lease scheme for ships in order to resolve the liquidity gap in the domestic ship finance market and successfully implement the five-year plan for reconstruction of shipping industry.

• Journal of the Korean Society of Environmental Restoration Technology
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• v.20 no.6
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• pp.67-77
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• 2017

Demands for housing has diversified recently due to low birth rate and the growth of aging population. Also, a share of idle houses and obsolete houses over 20 years old is gradually rising. Therefore, there is a need for a sustainable, environment-friendly improvement policy that is in line with a new housing paradigm and avoids full-scale new construction, such as a customized housing renovation plan considering local economic circumstances. Therefore, afforestation system applicable to buildings are assessed positively, but lack objective performance evaluation. Through one-year, long-term monitoring of replicated obsolete buildings that have poor insulation performance, this study calculated monthly average power consumption and analyzed power charges by applying pricing plans before and after the revision of progressive tax in order to examine economic effects expected by applying the afforestation system. In the obsolete buildings, the study showed that monthly average power consumption was reduced by 16.6kWh with 5.2% average reduction rate. Highest reduction was made in July at 11.3%. Aggregate monthly power consumption charges were relatively high in winter before and after the revision of progressive tax. Power charges reduction effect was highest in March when monthly power consumption was reduced to 300kWh level by applying the afforestation system.

• Journal of Environmental Policy
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• v.7 no.2
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• pp.1-32
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• 2008

This study examined the income distribution effect of the environmental taxes in the energy sector by applying the Urban Family Survey and the Household Income and Expenditure Survey to the Kakwani index. The results analyzed are as follows: first, taxes of the non-transportation energy sector show progressive tax schemes, while those of transportation energy show regressive ones. Second, we calculated the scenario-specific progressivity index on basis of the existing energy price structure. Contrary to the previous works claimed to be regressive, the progressivity in scenario I got higher than before, except for the congestion taxes. Also, the index by the total sum of taxes in scenario II showed just a little bit higher progressive tax system. In scenario III, both the value added tax and the total sum of taxes have a little regressive structure, but the indexes in the environmental taxes, heat capacity taxes, and those which the environmental tax and the congestion tax and heat capacity taxes are summed up, are in general progressive. Third, subsidizing the tax revenues raised from the environmental taxes to the poor classes by a simulation approach shows more progressive as expected, implying the more subsidy the higher the progressivity index. As a result, it is said that the implementation of the environmental taxes has no negative impact on the income distribution, and the subsidy of the tax revenue raised from it to the poor can make the income inequality improve.

• Journal of Electrical Engineering and Technology
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• v.11 no.2
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• pp.285-299
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• 2016

Although South Korea experienced a rolling blackout in 2011, the possibility of a blackout in South Korea continues to increase due to rapid electrification. This study examines the problems of energy taxation and price distortions as possible reasons for the rapid electrification in South Korea, which is occurring at a faster rate than in Japan, Europe, and other developed countries. Further, we suggest new energy taxation and price systems designed to normalize electricity prices. In order to do so, we consider two possible scenarios: the first imposes a tax on bituminous coal for electricity generation and the second levies a tax to provide compensation for the potential damages from a nuclear accident. Based on these scenarios, we analyze the effects of a new energy system on electricity price and demand. The results show that a new energy system could guarantee the power generation costs and balance the relative prices between energy sources, and could also help prevent rapid electrification. Therefore, the suggested new energy system is expected to be utilized as a basis for energy policy to decrease the speed of electrification, thus preventing a blackout, and to induce the rational consumption of energy in South Korea.

• Journal of the Korean Society of Hazard Mitigation
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• v.10 no.1
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• pp.57-63
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• 2010

Central government moves welfare, education, and public fire service that need a lot of budget to local governments. But, central government don't give a enough finance support to local governments to implement those services. Therefore, local government suffer from the financial pressure. Fire service is supplied by province government in Korea. Public facilities tax is an object tax for fire service in province government. But, since total revenue of public facilities tax is just about 30% of fire service budget, the financial pressure of local governments has been increasing and the fire services could not been improved comparing with the increasing demands for the services. The purpose of this article is to examine a stable tax system for fire service. To do so, this study analyzes the fire public service budget, finds out some problems, and compares with developed countries to solve these problems.

• Management & Information Systems Review
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• v.23
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• pp.157-174
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• 2007

Concerning this nation's M&A system, it is expected that standards of limitation on ownership is considerably modified and alleviated. This would allow companies to freely merge with each other, raising the efficiency of the whole national economy and ultimately benefiting all economic subjects. Another goal of business merger lies in adjusting net income or reducing tax amount. The income and the amount are to be financially reported. If merger between companies does not create any synergy effect, but just contributes to net income increase or tax reduction for the purpose of the parties' financial reporting, it might distort a rational distribution of wealth over all facets of economy. Merger whose goal is to create the most desirable synergy effect should be positively encouraged, but that whose goal lies in tax avoidance needs to be strongly restricted. Thus the purpose of this study was to find how to improve this nation's merger-related taxation system. For the purpose, this researcher investigated problems of existing tax supports to merger, which meets related taxation requirements, especially in terms of liquidation income, appraisal profit from merger, fictitious dividend and requirements for taxation. Among the problems, the study found, the biggest thing was that liquidation income or deficit carried forward, if any, is subject to be prior deducted from surplus, so the income is likely to generate. To raise the consistency of this nation's taxation on business restructuring, existing local systems in regard to merger, division, investment in kind and dividend-exclusion method need to be reconsidered following the introduction of consolidated taxation system.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.6
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• pp.145-155
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• 2020

This study analyzes the degree of competition in the oil refinery market in Korea, which is considered an oligopoly market. The price of gasoline and diesel and the quantity of supply are used to identify the market competition. We also analyze whether the oil tax reduction policy has affected market competition. The competitiveness of the market was examined using monthly data from 2008 to 2019. Bresnahan-Lau method was employed to estimate the degree of competition in the oil refinery market, which is frequently used in the industrial studies. The analysis shows that the gasoline and diesel markets seem close to a perfect competitive market. Also, the tax cut has weakened market competition. In other words, the monopolistic power has increased in the market, so consumers have not benefit from the price cuts as much as tax cuts. Although the oil refinery market where four major companies are competing, the government's monitoring and price disclosure system help the market to be highly competitive as much as a perfect competition market. The tax cut, in the high oil price era, has a negative effect on the competition because of an information asymmetry about the price-setting process between suppliers and consumers.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.169-175
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• 2022

Unexpected events, such as the COVID-19 pandemic, can occur at any time and have an influence on all countries. The COVID-19 pandemic has infected more than 200 nations, including Indonesia. As a result of this phenomenon, Indonesia's state revenue system will need to be adjusted. Therefore, the goal of this research is to see if there are any differences in taxation in Indonesia as a result of the COVID-19 incident. The data was collected using the base years of 2018, 2019, and 2020. The information came from the financial statements of companies in the industrial sector that are publicly traded on the Indonesian Stock Exchange (IDX). Purposive sampling was used, and there were 54 companies represented in the samples that met the criterion. In this study, the difference test was used as an analytical technique. According to the findings, there was no difference in the pattern of tax avoidance between pre-COVID-19 in 2019 and during the COVID-19 period in terms of leverage and fixed asset intensity. It occurred because the tax avoidance policy was implemented as a short-term fiscal strategy to ensure the company's existence. Finally, because these findings were restricted to the Indonesian environment, their generalizability was limited.

• Journal of the Korean Regional Science Association
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• v.10 no.2
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• pp.73-82
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• 1994

The Korean government has introduced land policy reform measures recently, in order to stabilize the circulating system of land, without a parent law involving effective land use. The measures aim to change the pattern of land market rather than the pattern of land use. Expecially, the excessive profits tax on land intends to redistribute the owernership of residential land, and to recapture windfall gains on an accrual basis. However, it may incur secondary gains in macro economics and an unintended reduction of urban land supply in the land market. This paper aims to study empirically the impact caused by the excessive profits tax on land, and to promote urban land supply. Ultimately, this paper can be regarded as an interim report on outcome of research projects which aim to propose a method of urban land supply suitable to an advanced society.

• Journal of the Korean Home Economics Association
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• v.38 no.11
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• pp.63-75
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• 2000

To identify the actual situation of financial information disclosure, a content analysis was performed on pamphlets of a time deposit and a new reserve trust offered by banks and other financial institutes. Although consumers required information on interest rate, tax favor, loan service, protection of brink depositors and bank security to select a financial service account, informations offered on pamphlets are not sufficient. Therefore concrete way of information offer system shoed be developed. In offering interest rate, interest rate after tax deduction or payment at maturity should be also mentioned. Information on tax favor, protection of bank depositors and bank security should be contained in pamphlets as well. Use of easy terms and notes are recommended for developing pamphlets for financial products.