• Journal of Information Technology Services
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• v.15 no.3
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• pp.51-69
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• 2016

Recently, many Korean firms have suffered financial losses and damaged firm's trust due to information security incidents. Hence, a lot of firms have realized the importance of the information security. In particular, the demand for information security certification has increased. This study examined the effect of information security certification using the event study methodology. Our research shows that the announcement of the information security certification significantly influences the market value of the corresponding firm. The certified firms rise, on average, o.4993% (-2 day), 0.5462% (+1 day) of their market value. Further, we found that the financial sector in our data showed a 1.4% higher abnormal returns than the nonfinancial sector. On the other hand, whether a firm first acquired the information security certification is not significant. Our paper presents that it is possible to analyze the effect of the information security certification using the event study. We are expected to be used in making a decision for the investment of information security. Also, our results indicate that the firm which have acquired the information security certification should actively announce that fact.

• Journal of Information Technology Services
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• v.16 no.2
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• pp.33-44
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• 2017

The financial industry recently introduces several issues for utilizing the blockchain technology as the core infrastructure of future finance. Blockchain, first introduced as the underlying technology of Crypto-currencies, Bitcoin is a technology that can ensure the integrity and reliability of data by verifying, recording, and storing data jointly in the network without a central administration organization or a manager. This blockchain has its potential power as a technology for issuing digital currencies, providing transparency, and securing record management, that is expected to be useful in the financial sector. At the same time, considering the characteristics of financial transactions which emphasize privacy, questions are raised about whether a blockchain structure in which information is distributed and shared among participants can be successful. How will we support to implement the potential of the blockchain in order to change the paradigm of the financial industry? How can we manage the side effects of blockchain effectively? Such a policy discussion is necessary. This study introduces the meaning of the blockchain technology, various utilization attempts, and possible problems facing technology from the viewpoint of financial industry, and suggests a policy direction for utilizing this technology as a catalyst to the progress of the financial industry or as a new technology power.

• Journal of the Korea Society of Computer and Information
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• v.22 no.6
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• pp.141-147
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• 2017

Along with the recent growth of Fintech industry and low interest rate basis, one of the alternative investment technique for expecting higher investment profit, P2P loan using P2P financial system is greatly increasing. P2P loan can be referred to as a type of Crowdfunding that the law of Crowdfunding (adopted to revised Capital Market Act) enacted on January 25th 2016 only allows investment type Crowdfunding so that it can be used as a tool of raising fund for startup and venture companies. Also, it is true that Korean government could not make any legislative foundation related to P2P loan. At this moment, those online platform companies mediating P2P loan are not included as financial companies, expected to cause various legal arguments. Financial Services Commission has released a guideline in February of this year saying that limit of P2P loan is 10 million Korean Won per arbitrating company and 5 million Korean Won per borrower. However, what is more important is to make a law supporting this institutional system. If legislation on P2P loan is implemented without care, it may disturb growth of the field but it may result in the damage of investors if not clearly defined by law. As this is the case, first, "revision of execution regulations for loan business" should take place as soon as possible to intensify inspection of loan companies by registering them to Financial Services Commission. Second, saving customer fund separately in the their organization. Third, making law on protecting investors such as regulating exaggerative advertisement. Fourth, to have transparent and fair public announcement system, standardized agreement and guideline describing clear understanding on autonomous public information publication of P2P loan online platform business and information on the borrower.

• Journal of Information Technology Services
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• v.7 no.1
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• pp.151-166
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• 2008

The Outsourcing Industry has grown at a swift pace and evolved over time, and the Global IT Outsourcing market has shown signs of a steady growth. In the Korean financial industry, however, IT Outsourcing is not active as that of the advanced countries and there is lack of literature to understand the characteristics of IT Outsourcing in the financial industry. This paper, therefore, analyze the outcomes surveying 40 financial companies in Korea to investigate how IT Outsourcing risk factors affects IT Outsourcing intention. Based on our literature reviews based on number of key articles, journals, and the focus group interviews, IT Outsourcing risk factors are proposed into four different domains: Transaction, Client, Vendor and Environmental perspective. It found that two risk factors (Client and Environmental perspective) are closely related to the IT Outsourcing intention of the Korean financial industry. Finally, this paper concludes that concrete SLAs (Service Level Agreements) of the clients and support of government agencies are important to mitigate the IT Outsourcing risks.

• The Journal of Industrial Distribution & Business
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• v.10 no.12
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• pp.43-55
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• 2019

Purpose : With the proliferation of O2O platform services that combine offline and online services, many startups are fiercely competing to lead services in the O2O service market. While the prospects for growth in the O2O service market are optimistic because of the close convenience to life, startups can achieve corporate performance only through close cooperation and partnership with suppliers. The purpose of this study is to verify the effect of O2O-based startups' and suppliers' cooperation in supply chain management on SCM performance through supply chain partnerships and startup satisfaction with suppliers. Research design, data, methodology : Data were collected from O2O service-based startups and hypotheses were verified through frequency analysis, exploratory factor analysis, reliability analysis, confirmatory factor analysis, feasibility analysis, and structural equation path analysis. In addition, the mediating effects of supply chain partnerships and startup satisfaction on suppliers were verified. Results : As a result of this study, IT utilization of the O2O startup cooperation method affects the financial perspective of supply chain partnership and SCM performance. The contract implementation of the cooperation method had an impact on the financial and innovation growth perspectives of the SCM performance, and the communication of the cooperation method had an effect on the supply chain partnership, startup satisfaction in the supply chain, and the innovation growth perspective of the SCM performance. Supply chain partnerships had an impact on the financial, innovation growth, and customer perspectives of SCM performance and startup satisfaction within the supply chain had a significant effect on innovation growth and customer perspectives. Conclusions : The implications of this study identified the factors that can improve SCM performance through the cooperation method of O2O startup, supply chain partnership and startup satisfaction with suppliers, and it is significant that the causal relationship was identified by the structural model through the supply chain cooperation factors derived by characteristics. Based on the empirical results, as the services of O2O startups grow, it is expected that empirical research and practical activation of academia should be considered as important in the cooperation of the supply chain.

• The Journal of the Korea Contents Association
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• v.9 no.8
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• pp.41-48
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• 2009

As enactment and enforcement of capital markets integration law, investment banks are going to be appeared in our financial market and be able to provide payment services. To provide these kinds of services, investment banks need to be participated in the financial network. As the financial network enormously affect the economy, the operation of the network will require a variety of risk managements. In this paper we define operational risk management criteria for the financial network such as security, in-time response, economical efficiency and stability to be required for the healthy economy and propose the configuration of the financial network system based on virtual private networks for investment banks to provide payment services. Finally we analyze that the proposed VPN configuration for financial networks has high security and in-time response with the cost and operation effective.

• Proceeding of Spring/Autumn Annual Conference of KHA
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• 2004.11a
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• pp.393-397
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• 2004

The purpose of this study was to analyze the needs for managerial service for residents in multi-family housing. For the survey and statistical analysis, the questionnaires from 484 residents and 84 housing managers of multi-family housing within the Seoul metropolitan area were used. The analytical methods adopted in this study were frequency, percentage, t-test, and factor analysis. The results of this study are as follow : (1) Basic services within a multi-family housing included management, minimum residential self governance, basic etiquette, and community program. And additional service were categorized by the health and entertainment program, the consumer service program, the residential life services, the information and financial services program, and the children's program. (2) The favorite needs of residents' additional services were the market news and information, the programs related health, the mail services, the health diagnosis service programs etc. But, housing managers' needs were the market news and information, and the flea market. As to the results analyzing the needs for additional service fir residents, it was found there were differences between residents and housing managers.

• International Commerce and Information Review
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• v.19 no.4
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• pp.95-124
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• 2017

The dispute analysed in this article concern eight measures taken by Argentina regarding finance, taxation, foreign exchange, and registration. The dispute centered on whether these measures were in violation of the Member's obligations under the General Agreement on Trade in Services (GATS), namely most-favored national treatment, national treatment and market access, and whether they are justified by Article XIV and Article 2(a) of the Annex on Financial Services. Important arguments raised in the dispute include whether the services and the service providers of cooperative and non-cooperative countries and/or Argentina subjected to the measures are like for the purposes of Article II and Article XVII of the GATS, whether the regulatory aspects of the measures are to be considered in determining the inconsistency with Article II and Article XVII of the GATS, and whether the measures are justified in that they were taken in accordance with the national laws and regulations aimed at implementing the Global Forum on Transparency and Exchange of Information for Tax Purposes and the Financial Action Task Force. The essence of this dispute lies in the balance of each Member's right to regulate commercial and/or financial activities and its obligations under the GATS. The Appellate Body tried to strike such a balance in its assessment of: (i) likeness of services and service suppliers, (ii) no less favorable treatment under Articles II and XVII, and (iii) the scope of measures under Article 2(a) of the Annex on Financial Services. This article aims to provide an analysis of the Appellate Body's findings, giving light to the relevant jurisprudence and scholars' writings.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.205-218
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• 2020

This study aims to analyze the influence of financial inclusion on micro-, small-, and medium-sized enterprises' (MSMEs) performance and examine the mediation role of financial intermediation and access to capital. The object of this study is MSMEs in Malang, Indonesia. The sample consists of 100 MSME actors in Malang City, which is determined using Roscoes theory. The data is collected using Simple Random Sampling method, by distributing questionnaire measured with Likert scales. The hypotheses proposed in this study are examined using Partial Least Square (PLS) model. The results of this study show that financial inclusion influences MSMEs' performance both directly and indirectly through mediation from financial intermediation and access to capital. The direct influence means that the efforts to increase access to financial services, especially access to credit financing for MSMEs, will be able to increase market share, number of workers, sales, as well as profit of the MSMEs. Increased financial inclusion has a major impact on improving MSMEs' performance through financial intermediation compared to access to capital. This means that the increase of financial access for MSMEs followed by an increase in financial intermediation in the form of a financial service approach to MSMEs will improve MSMEs' performance.

• Journal of Information Technology Services
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• v.17 no.1
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• pp.33-45
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• 2018

Recently, many South Korean firms have suffered financial losses and damaged corporate images from the data breaches. Accordingly, a firm should manage their IT assets securely through an information security investment. However, the difficulty of measuring the return on an information security investment is one of the critical obstacles for firms in making such investment decisions. There have been a number of studies on the effect of IT investment so far, but there are few researches on information security investment. In this paper, based on a sample of 76 investment announcements of firms whose stocks are publicly traded in the South Korea's stock market between 2001 and 2017, we examines the market reaction to information security investment by using event study methodology. The results of the main effects indicate that self-developed is significantly related to cumulative average abnormal returns (CAARs), while no significant effect was observed for discloser, investment characteristics and firm characteristics. In addition, we find that the market reacts more favorably to the news announced by the subject of investment than the vendor, in case of investments with commercial exploitation. One of main contributions in our study is that it has revealed the factors affecting the market reaction to announcement of information security investment. It is also expected that, in practice, corporate executives will be able to help make an information security investment decision.