• Management & Information Systems Review
• /
• v.23
• /
• pp.41-74
• /
• 2007

In Korea, corporate merger activities were activated since 1980, and nowadays(particuarly since 1986) the changes in domestic and international economic circumstances have made corporate managers have strong interests in merger. Korea and America have different business environments and it is easily conceivable that there exists many differences in motives, methods, and effects of mergers between the two countries. According to recent studies on takeover bids in America, takeover bids have information effects, tax implications, and co-insurance effects, and the form of payment(cash versus securities), the relative size of target and bidder, the leverage effect, Tobin's q, number of bidders(single versus multiple bidder), the time period (before 1968, 1968-1980, 1981 and later), and the target firm reaction (hostile versus friendly) are important determinants of the magnitude of takeover gains and their distribution between targets and bidders at the announcement of takeover bids. This study examines the theory of takeover bids, the status quo and problems of merger in Korea, and then investigates how the announcement of merger are reflected in common stock returns of bidding firms, finally explores empirically the factors influencing abnormal returns of bidding firms' stock price. The hypotheses of this study are as follows ; Shareholders of bidding firms benefit from mergers. And common stock returns of bidding firms at the announcement of takeover bids, shows significant differences according to the condition of the ratio of target size relative to bidding firm, whether the target being a member of the conglomerate to which bidding firm belongs, whether the target being a listed company, the time period(before 1986, 1986, and later), the number of bidding firm's stock in exchange for a stock of the target, whether the merger being a horizontal and vertical merger or a conglomerate merger, and the ratios of debt to equity capital of target and bidding firm. The data analyzed in this study were drawn from public announcements of proposals to acquire a target firm by means of merger. The sample contains all bidding firms which were listed in the stock market and also engaged in successful mergers in the period 1980 through 1992 for which there are daily stock returns. A merger bid was considered successful if it resulted in a completed merger and the target firm disappeared as a separate entity. The final sample contains 113 acquiring firms. The research hypotheses examined in this study are tested by applying an event-type methodology similar to that described in Dodd and Warner. The ordinary-least-squares coefficients of the market-model regression were estimated over the period t=-135 to t=-16 relative to the date of the proposal's initial announcement, t=0. Daily abnormal common stock returns were calculated for each firm i over the interval t=-15 to t=+15. A daily average abnormal return(AR) for each day t was computed. Average cumulative abnormal returns($CART_{T_1,T_2}$) were also derived by summing the $AR_t's$ over various intervals. The expected values of $AR_t$ and $CART_{T_1,T_2}$ are zero in the absence of abnormal performance. The test statistics of $AR_t$ and $CAR_{T_1,T_2}$ are based on the average standardized abnormal return($ASAR_t$) and the average standardized cumulative abnormal return ($ASCAR_{T_1,T_2}$), respectively. Assuming that the individual abnormal returns are normal and independent across t and across securities, the statistics $Z_t$ and $Z_{T_1,T_2}$ which follow a unit-normal distribution(Dodd and Warner), are used to test the hypotheses that the average standardized abnormal returns and the average cumulative standardized abnormal returns equal zero.

• The Journal of Art Theory & Practice
• /
• no.13
• /
• pp.73-95
• /
• 2012

In terms of element and process, art today has already been fully systemized, yet tends to become even more systemized. All phases of creation and exhibition, appreciation and education, promotion and marketing are planned, adjusted, and decided within the order of a globalized, networked system. Each phase is executed, depending on the system of management and control and diverse means corresponding to the system. From the step of education, artists are guided to determine their styles and not be motivated by their desire to become star artists or running counter to mainstream tendency and fashion. In the process of planning an exhibition, the level of artist awareness is considered more significant than work quality. It is impossible to avoid such systems and institutions today. No one can escape or be freed from the influence of such system. This discussion addresses a serious distortion in the selection system as part of the system connotatively called "art museum system," especially to evaluate artistic achievement and aesthetic quality. Called "studio system" or "art star system," the system distinguishes successful minority from failed absolute majority and justifies the results, deciding discriminative compensations. The discussion begins from work by Hunter Jonakin and Dan Perjovschi. The key point of this discussion is not their art worlds but the shared truth referred by the two as the collusive "art market" and "art star system." Through works based on their experiences, the two artists refer to these systems which restrict and confine them. Jonakin's Jeff Koons Must Die! is avideo game conveying a critical comment on authoritative operation of the museum system and star system. In this work, participants, whether viewer or artist, are destined to lose: the game is unwinnable. Players take the role of a person locked in a museum where artist Jeff Koons' retrospective is held. The player can either look around and quietly observe the works, which causes a game-over, or he can blow the classical paintings to pieces and cause the artist Koons to come out and reprimand the player, also resulting in a game-over. Like Jonakin, Dan Perjovschi's some drawings also focuses on the status of the artist shrunken by the system. Most artists are ruined in a process of competition to survive within the museum system. As John Burger properly pointed out, out of the art systems today, public collections (art museums) and private collections have become "something unbearable." The system justifies the selection system of art stars and its frame of reference, disregarding the problem of producing numerable victims in its process. What should be underlined above all else is that the present selection system seriously shrinks art's creative function and its function of generating meaning. In this situation, art might fall to the level of entertainment, accessible to more people and compromising with popularity. This discussion is based on assumption and consciousness on the matter that this situation might cause catastrophic results for not only explicit victims of the system but also winners, or ones defined as winners. The system of art is probably possible only by desire or distortion stemmed from such desire. The system can be flourished only under the economic system of avarice: quantitatively expanding economy, abundant style, resort economy in Venice and Miami, and luxurious shopping malls with up-to-date facilities. The catastrophe here is ongoing, not a sudden emergence, and dynamic, leading the system itself to a devastating end.

• Korean Security Journal
• /
• no.10
• /
• pp.103-125
• /
• 2005

Hazard are defined here as threat to life, well-being, material goods and environmental from the extremes of natural processes or technology. The challenges of natural and technology in increasing the exposure of people and property to risk pose a dilemma for any government seeking the fullest protection for its people and their property. As society progresses and as technology improves and becomes ever more intricate and far reaching, the human species is confronted with increasingly diverse and numerous catastrophic events. Not so infrequently, unfortunately, the impact of either a man-made or natural disaster is compounded by the fact that policy makers have neither prepared themselves or the public to respond appropriately to a disaster once the tragedy has struck. Many concerns have been raised for importance of emergency management after 1990's numerous urban disasters in Korea. Emergency management is the discipline and profession of applying science, technology, planning, and management to deal with extreme events that can injure or kill large numbers of people, cause extensive damage to property, and disrupt community life. When the primary function of private security is to protect lives and property of clients, emergency management should be included in the security service and many countermeasures should be carried out for that purpose. The purpose of this study is to establish ways and means needed to improve the private security emergency management system in Korea. This study is spilt into four chapters. Chapter I is the introduction part. Chapter II introduces the reader to a private security and emergency management theory, and Chapter III deals with the establishment of an effective emergency management system in Korea private security, Chapter IV is a conclusion. Policy makers and private security industry employers in Korea has not concerned with the importance of training and education by lack of recognition and has been passive about qualified guards. And the authorities supervising and the administrating the guards has not recognized the importance of private security and has neglected the training of the guards. In theses contexts, private security should develop and maintain a educational program of emergency management to meet their responsibilities to provide the protection and safety of the clients. Today's modern corporate security director, is, first of all, a competent, well-rounded business executive and, second, a 'service expert'. And, emergency management personnel in private security industry need continuous training.

• The Journal of Art Theory & Practice
• /
• no.14
• /
• pp.53-83
• /
• 2012

This thesis is a study of artistic measures and climate refugees, based on Hack's World Climate Refugee Camp project. According to Hack, climate refugees appeared with the process of globalization. Hack claimed that the people who put climate refugees in danger are the industrialized nations, and therefore, their rejection of refugees is nonsense. He also stated that the fundamental solution would be the active participation of such nations. Thus, he travels around the world, encouraging participants and globalizing his project. Interestingly, the practical participation method of his climate calamity project is divided into four methods, which are all related to realizing the danger and presenting various solutions. First, the aesthetic of survival: the reason Hack focused on the warming trend and claimed that we have to accept the climate refugees as refugees comes from the thought that we are all potential refugees, and the anxiety that climate refugees may cause war in the end. The solution Hack found for surviving in such a world is to create "refugee camps" to notify people about the seriousness of climate change, and to put the "aesthetic for survival" in action. Second, a relation-oriented relationship: communication between Hack and the participants was done in various ways. They are experiencing a bond and emotions of an interrelationship through their actions in the experimental field, experiencing a new form of art, which they were not able to experience in a museum. Third, a utopian measure: Hack's utopian measure started from the fear of dystopia but Hack still believes that it is not only a dream, but that it can be realized. He claims that even though the start may be feeble, it is possible to rescue children from starvation and to treat climate refugees as proper human in the end, when communication and cooperation is done the right way and properly. Fourth, the aesthetic of global relation, the internet: the new solution Hack is trying on the internet is to make more people participate in his project. It is fate that "human are the wrongdoer and the victim at the same time", but according to Hack's opinion, social disaster can be avoided through effort and it is optimistic that we can give form to the culture revolution we are experiencing now. Hack's project illustrated the importance of daily life, compared to art inside a museum, through active participation of the people and opened up a new method of art through realistic responses to disasters. This is distinctive from the past exhibitions, where artists gave shape and form to ideals and an imaginary world, in that it shows that the artist and audience aim for creating a community-like structure, just like Bourriaud's art method. Hack's project of climate calamity illustrates that installation and action art is not only an art genre which shows installation and activities, but that it can include social and political issues and that it can be completed with the help of participants, consequently becoming a genre of modern art. Hack raises a question about art's identity through various descriptions. Artists as planners, who base their artworks on their subjectivity or the characteristics of a specific period, the people as participants, the duet of art work and play, human and human, and further, human and nature. The practical participation method, as a measure for "disaster", reveals the new art of the 21st century within Hack's artworks. Even though there are several problems with Hack's usage of art as a measure for disaster, it will actively open up a new page for the 21st century's art with the theme of disaster.

• Korean Journal of Heritage: History & Science
• /
• v.53 no.2
• /
• pp.254-269
• /
• 2020

The purpose of this study is to propose guidance for wall renewal that is appropriate for an ancient city wall through application of advanced research and theories in wall design. It is a streetscape improvement project which forms part of the "Ancient City Image Finding Project". Study methods consist of advanced research classification, wall design theory contemplation, and analysis of the significance of designated ancient city areas and the "Ancient City Image Finding Project" status. Based on these methods, case study candidates were selected, case status and problems were identified, and improvement proposals were analyzed by comparing various features. Advanced wall research was classified into six categories including analysis of wall characteristics; wall design principle applications; wall structure, color, shape, and application; modern reinterpretation; palace walls; and house, temple, and village walls. The wall is an element of the streetscape improvement component of the "Ancient City Image Finding Project", with the characteristic of providing preceding experience in visual and cognitive awareness than interior structure. Case candidates for ancient city wall improvement are based on the composition distribution of the special conservation district in each ancient city as well as the conservation promotion district. Ultimately, the surrounding village of Gongju-si Geumseong-Dong Songsanri-gil, adjacent to the Royal Tomb of King Muryeong, was selected as the candidate. The "Ancient City Image Finding Project" of the surrounding village of Gongju-si Geumseong-Dong Songsanri-gil began with new Hanok construction. However, wall maintenance did not begin concurrently with that new Hanok construction. Support and maintenance took place afterwards as an exterior maintenance project for roadside structures. If the Hanok and wall were evaluated and constructed at the same time, the wall would have been built in unison with the size and design of the Hanok. The layout of the main building and wall of the Hanok is deemed to be a structure that is closed tightly because of its spatial proximity and tall height. Songsan-ri-gil's wall design should create a calm, subtle, and peaceful atmosphere with shapes, colors, and materials that express ancient city characteristics, but it is in an awkward position due to its sharpness and narrowness. The cause of the problem at Gongju-si Geumseong-dong Songsanri-gil, the case candidate, is that it is lacking significantly in terms of the aesthetic factors that traditional walls should possess. First, aesthetic consciousness seems to have disappeared during the selection and application process of the wall's natural materials. Second, the level of completion in design and harmony is absent. Maintenance guidance after analyzing the cause of problems in ancient city wall maintenance at Gongju-si Geumseong-dong Songsanri-gil, the subject area of research, is as follows: First, the Hanok design and layout of the wall and main gate should be reviewed simultaneously. Second, the one-sided use of natural stone wall in the Hanok wall design should be reexamined. Third, a permanent system to coordinate the opinions of citizens and experts during the planning and design phases should be employed. Fourth and finally, the Hanok's individuality shall be collectivized and its value as a cultural asset representing the identity of the community shall be increased.

• Journal of Science of Art and Design
• /
• v.12
• /
• pp.65-96
• /
• 2007

Today, the modern art is extremely diverse. It is denying its own boundary through chaos, extreme, abjection. In fact the diversity of the modern art can be best described as questioning and challenging to the essence of the reality, rather than the artistic pursuit of the beauties. The pursuit of the reality has been a long lasting discourse since the ancient. Through the history, the reality (referent) and representation (image) has been complementing and disposing each other in a relationship of a meaningful construction until the modern times. The limit of modernistic self-reference and the emergence of the figure leads to the emergence of Post-modernism in a trend of experimenting new visual arts. The return to the figure is clearly distinguished from existing representation's system and it brought new meanings to approaches and interpretations of the reality. In the case of Pop arts of 1960's and the following the modern sculptures, which is covered by this thesis, I put an emphasis on the diversification of those via changed strategies on the reality. In a situation where the reality is dictated by signified, the modern arts can no longer stay on a classic concept of representation, rather it pursuits new system and diverse strategies. I provide three types of strategic characters of the reality and the diversification of reality: the transition of the reality. These three types can be used as a frame work, which is supporting new aspects of the modern arts in reflecting on existing system. Therefore, the reason of categorizing is to distinguish modernistic arts and post modernistic arts, and to propose new post-modernistic discourses. Adapting J.F, Lyotard's view, absence is used to trace down the diversification of the reality thorough the sublime on the deconstruction of the mega discourses and the relationship of representation. Based on H. Faster's theory of the appropriation, the appropriation is used to exemplify the strategies of visual arts are in variations and being delayed. Lastly, in the transition, J. Baudrilliard's simulacre is used in terms of the concept of post modernistic representation. Based on the core of his theories, the deconstruction of existing concepts and simulation as the post modernistic representation, and the world of hyperreality based on simulacre are explained. These allows us to deny that representation is the expression of reality through mimesis. My aim is to work on the definition of the arts and representation in the modern era, and go further from there in order to clarify meaning and extension of the modern sculptures. Now two artists are reviewed based on their own art works: George Seagal; Jeff Koons. They are selected among numerous artists from the Post Modern era. Epic contents and emphasis on daily life of Seagal's works show good examples to artists from Pop Arts and following time period and may have served as a start point for Postmodernism. Indeed, he tried to show a newly defined relationship between art works and daily life experience. On the other hand, J.Koons used the strategies of fabrication and appropriation, which shows characteristics of the postmodernism. Through his four individual exhibitions, he shows the diversification of the reality based on art works as fetishistic merchandises, and newly defined concept of Ready-made since M Duchamp. Lastly, the diversification of the reality is analyzed again in context of my art works. I focused on the return to the figure among a variety of trends of late 20 th century modern sculpture. It showed the post modernistic point of view on the reality. Post modernistic diversified strategies are adopted as a method of distinguishing each art works via the diversification of the reality. This is the result of contemporary social and cultural situations.

• Journal of the Korean Institute of Traditional Landscape Architecture
• /
• v.30 no.2
• /
• pp.119-129
• /
• 2012

Yongdoseo and Guimunwon are described in "Bokgeo(卜居, fixabode)" of "Sanlimkyengje(山林經濟)" written by Manseon Hong. This record is a unique garden conceptual idea applying the principles of Hetu(河圖) and Luoshu(洛書), fanciful gardens which have not been actually constructed. Here, two garden types were concretely described respectively, however the underlying meaning therein cannot be apprehended without exact understanding about Sangsu studies. Therefore, the purpose of this study is to illuminate the meaning contained in Garden illustration and the historical meaning of landscape therein through considering this text. To achieve the purpose of this study, the writer and the compiler who are the background of this writing and the outline of Sangsu studies were investigated. Also, the principles of Saengsu(生數), Seongsu(成數), Yin Yang(陰陽), Four Bodies(四象), Palgwedo(八卦圖), etc. which are in Hetu and Luoshu were considered. The result of this study went through this research process is summarized as follows. First, Hetu Luoshu are conceptual definitions which wholly abstracted the basic propositions of Sangsu philosophy such as the universe change principle, etc., while Yongdoseo and Guimunwon can be said to be operational definitions which apply those as garden composition principle, enabling to experience the meaning contained therein concretely and explain it in a replicable way. This attempt is a unique example, unprecedented in Chinaas well. Second, as a livingspace, garden was selected as a means to concretize operational definitions about the meaning of Hetu Luoshu, and as the property to reproduce the bearings concept, the location and the number, etc. of Hetu Luoshu, Taegukjeong(太極亭), Shipjagak(十字閣), Dondae(墩臺), well, pond as well as various kinds of trees were used. Third, the main motif of Yongdoseo and Guimunwon is the relation between Apriority(先天) and Posterior(後天), and the relation between Constitution(體) and Use(用) of Hetu and Luoshu respectively. That is, Yongdoseo planted evergreen trees such as Shipjangcheong(十長靑) in order to symbolize the universe creation principle which Hetu stands for, i.e. silent, harmonious, orderly and win-win image. In Guimunwon, flowering trees(花木) and fruit trees(果木) were planted freely to express the change of Posterior which Luoshu stands for, thatis, dynamic, disharmonious, disorderly, incompatible(相剋) and changing image. The effects intended to be attained through such planting were, 'freshness and cheerfulness(淸爽)' of Yongdoseo and 'splendidness' of Guimunwon respectively. Sangsu studies based on Hetu and Luoshu is a unique thinking system to the Orient which came from the accumulated wisdom of several scholars from various schools through a long period since ancient times. Therefore, the concept and the theory thereof are profound and huge, and its viewpoints of interpretation are diverse. It is a limit of this study that more in-depth and various consideration was not performed. As a further research project, more empirical study of Orientalism such as Sangsu studies, etc. inherent in Traditional Garden is necessary.

• Journal of Distribution Research
• /
• v.17 no.5
• /
• pp.85-111
• /
• 2012

Introduction : The purpose of this study was to examine the relationship between perceptual characteristics of consumers and intent of relational continuance for PB(Private Brand) products in discount stores. This study was conducted as an empirical study based on survey. For the empirical study, factors of PB products as characteristics perceived by consumers such as perceived quality, store image, brand image and perceived value were deduced from preceding studies. The effect of such factors on intent of relational continuance mediated by brand trust and brand equity of PB products was structurally examined. Research Model : Based on theory analysis and hypotheses, constructed a Structural Equation Model(SEM). The research model is shown in Figure 1. Research Method : This paper is based on s qualitative study of selected literature and empirical data. The survey for empirical study was carried out on consumers in Gyeonggi and Busan between January 2012 and May 2012. 300 surveys were distributed and 253 (84.3%) of them were returned. After excluding omissions and insincere responses, 245 surveys (81.6%) were used for final analysis as effective samples. Result : First of all, the Reliability was carried out for instrument used. The lower limit of 0.7 for Cronbach's Alpha as suggested by Hair et al. (1998). And Construct validity was established by carrying out exploratory factor analysis by Varimax rotation for all. Four factor result for the consumer's perceptual characteristics of PB Products, two mediating factors and one dependent factor. All constructs included in research framework have acceptable validity and reliability. Table 1 shows the factor loading, eigen value, explained variance and Cronbach's alpha for each factor. In order to assure validity of constructs, I implemented Confirmatory Factor Analysis (CFA), using AMOS 20.0. In confirmatory factor analysis, researcher can take control over the specification of indicators for each factor by hypothesizing that a specific factor is loaded with the relevant indicators. Moreover, CFA is particularly useful in the validation of scale for the measurement of specific construct. CFA result summarized Table 2 shows that the fit measures of all constructs fulfill the recommended level and loadings are significant. To test causal relationship between constructs in the research model, used AMOS 20.0 that provides a graphic module as method for analysing Structural Equation Modeling. The result of hypothesis test is shown in Table 3. As a result of empirical study, perceived quality, brand image and perceived value as selected attributes for PB products showed significantly positive (+) effect on brand trust and brand equity. Furthermore, brand trust and brand equity showed significantly positive (+) effect on intent of relational continuance. However, store image of discount stores selling the PB products was analyzed to have positive (+) effect on brand trust and no significant effect on brand equity. Discussion : Based on the results of this study, the relationship between overall quality, store image, brand image and value perceived by consumers about PB products and intent of relational continuance was structurally verified as being mediated by brand trust and brand equity. Looking at the results, a strategic approach that maximizes brand trust and equity value for PB products by large discount stores is required on top of basic efforts to improve quality, brand image and value of PB products in order to maximize consumer's intent of relational continuance and to continuously attract repeated purchase of products.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.6 no.1
• /
• pp.109-132
• /
• 2011

While the resource-based view suggests that a firm's competitive advantage rests on a set of valuable, rare and inimitable resources more generally (Barney, 1991), research in new firms has more specially indicated a link between initial resources and early performance and survival (Bruderl and Schussler, 1990; Fichman and Levinthal, 1991; Carroll et al., 1996). The RBV primarily focuses on the particular resources, and their characteristics, that provide the potential for advantage (Conner, 1991). Yet in order to realize this advantage, organizations must not only develop their resources, but also effectively deploy them (Admit and Shoemaker, 1993). This suggests that advantage from resources may reside in both the input (resource development) side and the output (resource deployment) side. This research looks at venture survival as a function of both the resources a firm owns, and the resources it can access from others. We focus more specifically on technology resources, which are among a technology-based firm's most critical resources (Itami, 1987). In addition, technological knowledge can contribute a large portion of the value of a firm's products (Goodman and Lawless, 1994). We look at both the input and output side: the pool of technology resources that serve as an input to a firm's activities, and the market that values and purchases the output of this activity. We take an international perspective, examining whether resources explain internationalization on the input and output side, and in turn, whether this internationalization can explain survival. We explore three sets of questions. First, can survival in entrepreneurial firms be explained as a function of the resources a firm owns, and beyond that, to those the firm can access, and still further, to those the firm can access internationally? Second, do resources explain internationalization on both the input and output side? And finally, does internationalization explain survival? Implications for theory include extending the RBV to not only include a firm's resources, but its access to the resources of other entities. In addition, examining internationalization on both the input and output side enables us to understand not just the potential advantage of resources, but the manner in which they are deployed as a source of advantage. This research also contributes to the literature on international entrepreneurship by examining whether internationalization can explain survival for early stage firms. For practitioners, this research will provide insights on the importance of building alliances and, in so doing, broadening an organization's perspective about the technology resources available to the firm on the input side. The study will also inform practitioners about the value of maximizing the market for a firm's valuable resources. In addition, this research provides an extraordinary opportunity to access a large, comprehensive, and longitudinal dataset on technology-based ventures in Korea.

• Journal of National Security and Military Science
• /
• s.9
• /
• pp.313-340
• /
• 2011

The National Defense Reformation bill of "National Defense Reformation 2020" which have been constantly disputed and reformed by the government went through various levels of complementary measures after the North Korean sinking on the Republic of Korea (ROK) Naval Vessel "Cheonan". The final outcome of this reform is also known as the 307 Plan and this was announced on the 8th March. The reformed National Defense Reformation is to reduce the number of units and military personnel under the military structure reformation. However, in order for us to undertake successful National Defense Reformation, the use of privatized civilian resources are essential. Therefore according to this theory, the ROK Ministry of National Defense (MND) have selected the usage of privatized resources as one of the main core agenda for the National Defense Reformation management procedures, and under this agenda the MND plans to further expand the usage of private Especially the MND plans to minimize the personnel resources applied in non-combat areas and in turn use these supplemented personnel with optimization. In order to do this, the MND have initiated necessary appropriate analysis over the whole national defense section by understanding various projects and acquisition requests required by each militaries and civilian research institutions. However for efficient management of privatized civilian resources, first of all, those possible efficient private resources which can achieve optimization will need to be identified, and secondly continuous systematic reinforcements will need to be made in private resource usage legislations. Furthermore, we would need to consider the possibility of labor disputes because of privatization expansion. Therefore, full legal and systematic complementary measures are required in all possible issue arising areas which can affect the combat readiness posture. There is another problem of huge increase in operational expenses as reduction of standby forces are only reducing the number of soldiers and filling these numbers with more cost expensive commissioned officers. However, to overcome this problem, we would need to reduce the number of positions available for active officers and fill these positions with military reserve personnel who previously had working experiences with the related positions (thereby guaranteeing active officers re-employment after completing active service). This would in tum maintain the standards of combat readiness posture and reduce necessary financial budgets which may newly arise. The area of maintenance, supply, transportation, training & education duties which are highly efficient when using privatized resources, will need to be transformed from military management based to civilian management based system. For maintenance, this can be processed by integrating National Maintenance Support System. In order for us to undertake this procedure, we would need to develop maintenance units which are possible to be privatized and this will in turn reduce the military personnel executing job duties, improve service quality and prevent duplicate investments etc. For supply area, we will need to establish Integrated Military Logistics Center in-connection with national and civilian logistics system. This will in turn reduce the logistics time frame as well as required personnel and equipments. In terms of transportation, we will need to further expand the renting and leasing system. This will need to be executed by integrating the National Defense Transportation Information System which will in turn reduce the required personnel and financial budgets. Finally for training and education, retired military personnel can be employed as training instructors and at the military academy, further expansion in the number of civilian professors can be employed in-connection with National Defense Reformation. In other words, more active privatized civilian resources will need to be managed and used for National Defense Reformation.