• Journal of Arbitration Studies
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• v.24 no.4
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• pp.49-97
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• 2014

This study is about the availability of Chinese internal arbitration institutions by Korean invested companies. Generally, Chinese internal arbitration institutions lack independence from government. However, because parties seeking an arbitration award have ways to get neutrality from internal arbitration institutions that guarantee party autonomy, these Korean companies can use Chinese internal arbitration institutions to resolve disputes in China. Special attention should be given to the following. First, because Korean companies invested in China are legally in the same position as Chinese companies, unless foreign-related factors intervene, when disputes occur with Chinese companies or individuals, the disputes correspond to internal dispute, and when it comes to choosing the arbitration institution, these Korean companies must choose either a Chinese internal arbitration institution or foreign-related arbitration institution. Second, most Chinese internal arbitration institutions still lack independence from government, which can influence the fairness of arbitration in the future. Therefore, Korean companies invested in China should think about alternative ways to get a minimum impartiality in arbitration cases. Third, the parties are allowed to choose arbitration rules freely in Beijing, Xian, Chongqing, Guangzhou, and Hangzhou arbitration commissions. Therefore, in arbitration cases, the parties can get impartiality by choosing arbitrators according to the arbitration rules which they agree on, or by choosing partially modified arbitration rules of those arbitration commissions. Fourth, in order to get an impartial arbitration award from Chinese internal arbitration institutions in China, it is important for Korean lawyers or arbitration experts -- fluent in Chinese -- to be registered in the List of Arbitrators of Chinese internal arbitration institution by way of signing a MOU between the Korean Commercial Arbitration Board, or the Korean Association of Arbitration Studies and arbitration commissions such as those of Beijing, Xian, Chongqing, Guangzhou, and Hangzhou which comparatively do guarantee party autonomy. Fifth, because application of the preservation of property before application of arbitration is not approved in China, in practice, in order to preserve property before application of arbitration, it is best to file another suit in China based on other legal issue (e.g., tort) independent from the contract which an arbitration agreement is applied to. Sixth, in arbitration commissions which allow different agreement regarding arbitration procedures or arbitration rules, it is possible to choose a neutral arbitrator from a third country as a presiding arbitrator via UNCITRAL arbitration rules or ICC arbitration rules. Seventh, in the case of Chinese internal arbitral award, because the court reviews the substantive matters to decide the refusal of compulsory execution, the execution rate could be relatively lower than that of foreign-related cases. Therefore, when Korean companies invested in China use Chinese internal arbitration institution, they should endure low rate of execution. Eighth, considering the operational experiences of public policy on foreign-related arbitration awards so far, in cases of Chinese internal arbitration award, the possibility of cancellation of arbitral award or the possibility to refuse to execute the award due to public policy is thought to be higher than that of foreign arbitral awards. Ninth, even though a treaty on judicial assistance in civil and commercial matters has been signed between Korea and China, and it includes a provision on acknowledgement and enforcement of arbitral award, when trying to resolve disputes through Chinese internal arbitration institution, the treaty would not be a big help to resolve the disputes, because the disputes between Korean companies invested in China and the party in China are not subject to the treaty. Tenth, considering recent tendency of conciliation by the arbitral tribunal in China and the voluntary execution rate of the parties, the system of conciliation by the arbitral tribunal is expected to affect as a positive factor the Korean companies that use Chinese internal arbitration institution. Finally, when using online arbitration, arbitration fees can be reduced, and if the arbitration commissions guaranteeing party autonomy have online arbitration system, the possibility of getting impartial arbitration award through them is higher. Therefore, the use of online arbitration system is recommended.

• Information Systems Review
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• v.15 no.3
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• pp.39-69
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• 2013

Business value of information technology has been the biggest interest of all such as practitioners and scholars for decades. Information technology is considered as the driving force or success factor of firm agility. The general assumption is that organizations making considerable efforts in IT investment are more agile than the organizations that are not. However, IT that should help the strategies of the firm that can hinder business or impede agility of the firm occasionally. In other words, it is still unknown if IT helps the agility of the firm or bothers it. Therefore, we note that contrary aspects of IT such as promotion and hindrance of firm agility have been observed frequently and theorize the relationships between them. In other words, we propose a rationale that firms should need to develop superior firm-wide IT capability to manage IT resources successfully in order to realize agility. Thus, this paper theorizes two IT capabilities, including technical IT capability and managerial IT capability as key factors impacting firm agility and firm performance. Further, we operationalize firm agility into two sub-types, including operational adjustment agility and market capitalizing agility. The data from 171 firms was analyzed using PLS approach. The results showed that technical IT capability has positive impact on firm agility and managerial IT capability had positive moderating effects between technical IT capability and firm agility. In addition, it was identified that top management championship positively moderates between agility and firm performance. Finally, it was indicated that firm agility was a very important causal variable of firm performance. Our study provides more exquisite and practical empirical evidences in the relationship between IT capability and firm agility by proposing applicable solution although IT has some contradicting effects on firm agility. Our findings suggest many useful implications to agility related researches in relatively primitive stage and working level officers in organizations.

• Archives of design research
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• v.19 no.1 s.63
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• pp.253-262
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• 2006

Research of color has been developed and also has raised consumer desire through changing from a tool to pursue curiosity or beauty to a tool creating effects in the 20th century. People have been interested in colors as a dynamic expression of results since the color TV appeared. The meaning of colors has been recently diversified as the roles of colors became important to the emotional aspects of design. While auto colors have developed along with such changes of the times, black led the color trend during the first half of the 20th century from 1900 to 1950, a transitional period of economic growth and world war. Since then, automobile production has increased apace with the rapid economic growth throughout the world and automobiles became the most expensive item out of the goods that people use. Accordingly, increasing production induced facility investment in mass production and a technology leveling was achieved. Auto manufacturing processes are very complicated, auto makers gradually recognized that software changes such as to colors or materials was an easier way for the improvement of brand identity as opposed to hardware changes such as the mechanical or design components of the body. Color planning and development systems were segmented in various aspects. In the segmentation issue, pigment technology and painting methods are important elements that have an influence on body colors and have a higher technical correlation with colors than in other industries. In other words, the advanced mixture of pigments is creating new body colors that have not existed previously. This diversifies the painting structure and methods and so maximizes the transparency and depth of body colors. Thus, body colors that are closely related to technical factors will increase in the future and research on color preferences by region have been systemized to cope with global competition due to the expansion and change of auto export regions.

• Journal of the Economic Geographical Society of Korea
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• v.14 no.3
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• pp.419-436
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• 2011

Korean farm villages are locked in vicious circle, as lots of their problems related to low income and hollow matters are geared and multiply. To get over those problems, various plans to develop Korean farm villages are being pushed ahead. In addition, since the early of 1990s, Korea has been projects to develop settlement zones and culture villages. It has been also preceeding with a comprehensive development project of farm villages and a new vitalizations project, etc. All of these projects aim to reorganize and expand life environments, industrial bases, and convenience and welfare facilities. The existing studies on a comprehensive project to develop farm villages have been focusing on evaluation indexes, problems, investment priorities, etc. But in fact, studies on a comprehensive development project of farm villages are not thoroughgoing enough in aspects of residents' attitude and their recognition on the influence on tourist development. Thus, this study aims to present strategic schemes to allow residents to actively participate in a stage of promoting a comprehensive development project of farm villages, a stage of making the plan, and a stage of the implementation. For this, this study analyzes a comprehensive development project of farm villages and attempts to figure out which influence the tourist development in farm villages has on residents' attitude and recognition resulting from changes in economic, social cultural, and environmental aspects. Especially, this study previously examines what influential factors there exists are and what influences the development of farm villages has on residents. Based on the results from the above analysis, schemes to enable residents to actively a comprehensive development project of farm villages are presented as follows. First, it is necessary to raise our recognition on tourism and tourism development of farm villages. If the main theme of a comprehensive development project of farm villages intends farm village development, it is required to educate residents and let them clearly raise their recognition on tourism, and the effect of the project is guaranteed. Second, it is highly required to make a plan so that we can feel economic effects of revenues through project promotion and positive effects including the expansion of infrastructures and welfare facilities, etc. Third, it is necessary to bring into relief the positive recognition and attitude of a comprehensive development project of farm villages. As for the negative recognition and attitude, it is very important to change negative residents' recognition to the positive direction and to allow them to participate in and to take an interest in the project, so that the project can be effectively promoted.

• Journal of Korean Society of Forest Science
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• v.105 no.3
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• pp.366-376
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• 2016

The "Forest Partnership" mechanism in Indonesia allows those with authority to manage forests, including Forest Management Units (KPH) and concession holders, to partner with local communities for forest management and profit sharing. The objective of this study is to identify the challenges that this new mechanism is facing and develop practical policy recommendations for its successful implementation. "Lombok Forest Partnership" is the first of its kind in Indonesia between Forest Management Unit (KPH) and a local community. The local community members participating in this partnership were surveyed for their expected outcomes, degree of their satisfaction about the process and profits sharing, as well as other factors affecting their participation. Respondents reported that they have obtained the information on Forest Partnership completely from KPH and NGO. Local peoples participated in Lombok Forest Partnership to improve their incomes, and recognized timber production as the most important income source with high possibility of success. However, timber production will require sizable initial capital investment for establishing nursery and other supporting activities, which cannot come from local communities lacking economic means. Thus, Forest Partnership would be difficult to succeed if KPH does not take the initiative to permit and promote local community to use special area and generate profits in their jurisdiction. KPH, in turn, can share the profits with local peoples. In this regard, KPH's leadership is the key factor in the success of Forest Partnership. However, KPH will need to cultivate their capacity to develop and implement income-generating business with local community. Although profit sharing ratio of timber and non-timber forest products among local community who participated in Lombok Forest Partnership was very high at 75%, and 90%, the level of satisfaction on profit sharing ratio was only average. The cooperative organized by the local community is also dealing with sensitive nature of allocating forest area internally among their members. Thus, keeping the principle of fairness, equity and transparency is the key for successful implementation of Forest Partnership mechanism. This first case of Forest Partnership can serve as a model for the future cases and provide the early lessons.

• Journal of the Korea Convergence Society
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• v.8 no.8
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• pp.355-363
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• 2017

Jeju-do was designated as the 'first horse industry special zone' in 2014, followed by additional designation of horse industry special zones in Icheon, Yongin of Gyeonggi-do and Gyeongsangbuk-do in 2015. As a result, horses have become no more synonymous with Jeju-do. Jeju-do may see its competitive edge becoming blunt, compared to other local governments, due to its environmental characteristics and accessibility. The Korean proverb, "Send people to Seoul and horses to Jeju-do", has become an old saying that does not match reality. However, Jeju-do, designated as the first horse industry special zone, is expected to play a leading role in cultivation of domestic horse industry and faces a challenge of creating exemplary cases of success in transforming horse industry into the senary (6th) industry. In addition, KRW 114.2 billion is planned to be invested into 35 projects covering 9 sectors, including supply of elite domestic racing horses, expansion of demand basis for horse-riding, cultivation of horse meat industry, etc., by 2017 as envisioned by the horse industry special zone promotion plan. Despite expansion of facilities and demand base for horse-riding, those at the sites point out that government support at policy level has not come home to their hearts and criticism has been mounting that project efficiency remains low. Factors hindering the growth of horse industry, which have come to the fore, include inadequate supply of horse-riding facilities, limitation to expansion of demand for horse-riding, etc., due to excessive regulation. Advancement of horse industry requires wide-ranging deregulation on investment related to horse industry, including horse breeding and horse-riding facility installation, etc. Regulation which is deemed to be the biggest stumbling block to advancement of horse industry is related to the regulation requiring formation of farmland at horse-riding facilities in farming and fishery villages. Along with improvement in such regulations, horse-riding facilities without license should be legalized to promote qualitative growth of horse-riding industry. Moreover, efforts should be made to develop and deploy instructors with horse-riding license in order to develop horse-riding into a full-fledged leisure beyond simple experience auxiliary to tourism, thus ensuring that people can enjoy leisure style horse-riding regularly in safe and healthy manners. It would be necessary to add fresh momentum into efforts to turn Jeju-do into the hub of well-being leisure horse-riding by pooling our wisdom.

• Management & Information Systems Review
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• v.29 no.2
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• pp.1-25
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• 2010

This study attempted to empirically test the determinants of stock returns in Korean stock market applying multi-factor model proposed by Haugen and Baker(1996). Regression models were developed using 16 variables related to liquidity, risk, historical price, price level, and profitability as independent variables and 690 stock monthly returns as dependent variable. For the statistical analysis, the data were collected from the Kis Value database and the tests of forecasting power in this study minimized various possible bias discussed in the literature as possible. The statistical results indicated that: 1) Liquidity, one-month excess return, three-month excess return, PER, ROE, and volatility of total return affect stock returns simultaneously. 2) Liquidity, one-month excess return, three-month excess return, six-month excess return, PSR, PBR, ROE, and EPS have an antecedent influence on stock returns. Meanwhile, realized returns of decile portfolios increase in proportion to predicted returns. This results supported previous study by Haugen and Baker(1996) and indicated that firm-characteristic model can better predict stock returns than CAPM. 3) The firm-characteristic model has better predictive power than Fama-French three-factor model, which indicates that a portfolio constructed based on this model can achieve excess return. This study found that expected return factor models are accurate, which is consistent with other countries' results. There exists a surprising degree of commonality in the factors that are most important in determining the expected returns among different stocks.

• Journal of Animal Environmental Science
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• v.17 no.sup
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• pp.61-68
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• 2011

To assess the total cost with all stages of facilities, the feasibility of Life Cycle Cost (LCC) analysis was examined in this study to estimate the livestock manure treatment system and optimal decision making process. For the economic evaluation, the plant/equipment investment and annual operation cost of four Public Livestock Recycling Facilities, whose treatment capacity is 100 ton piggery manure per day, was compared. The initial cost was in the range of 2,699 million won to 3,202 million won, where T and E methods were highest and lowest, respectively. The annual operation cost was in the level of 378 million to 498 million won, which decreased in the following order : T method > J method > E method > B method. For the LCC analysis, 4.7% of interest rate, 3.13% of inflation rate, and 1.52% of net discount rate was considered by the data received from Bank of Korea and Statics Korea in the period of 2000 to 2009. Also, for the calculation of present value factor, the durable years of civil engineering & construction, machinery and electric instrument was 30 years, 10 years and 15 years, respectively. Based on these consideration, operation cost was in the range of 17,570 won/ton to 20,661 won/ton, and E method (17,570 won/ton) was economical and B method (20,661 won/ton) was non-economical. Though initial cost of T method was higher than that of B method, LCC analysis of T method was lower than that of T method due to the lower operation cost. Therefore, LCC analysis, which considers both initial cost and operation cost, is more reasonable evaluation method than either initial cost or annual operation cost. For the change of LCC analysis according to the uncertainty, the sensitivity analysis was carried out using fluctuation magnitude of discount rate in the period of 2000 to 2009. As a result, LCC analysis evaluated by discount rate was stable for the uncertain factors since the cost leadership did not change even though the sensitivity analysis varied. In summary, the economic evaluation using LCC analysis could be an efficient reference to choose the suitable livestock manure treatment plants. Furthermore, standardization of statement calculation for the actual cost analysis should be conducted and more detailed study is necessary to validate this summary. Therefore, the application of comprehensive technology evaluation, which considers LCC analysis, should contribute in obtaining objectivity and enhancing reliability for the 'Evaluation of Livestock Manure Treatment System and its Technology'.

• Journal of the Korean Society of Environmental Restoration Technology
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• v.3 no.3
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• pp.45-76
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• 2000

The purposes of this study were to investigate and understand the present status of various types of "deserts", such as sand desert, gravel desert, rock desert, earth desert, salt desert, desert, rocky desert, gobi desert, sandy desert, clay desert, etc., and the general countermeasures for the combating "desertification" "desertization", and to develop the technologies on the revegetation and restoration for the combating desertification in China. The methods of this study were mainly composed of field surveys on the several experimental sites and research institutes related to combating desertification in China, and examinations on the various technologies for the combating desertification at the Daxing Experimental Station of Beijing Forestry University. The conclusion from this study may be summarized as follows; 1. Status and tendency of desertification in China : China is one of the countries seriously threatened by desertification. Desertification affected areas in China are mainly distributed in arid, semi-arid and dry sub-humid areas in China, covering the most regions of the Northeast China (eastern region of Inner-Mongolia), the northern part of the North China (middle and western region of Inner-Mongolia, Shaanxi, Ningsha, Gansu) and the western part of the Northwest China (Xinzang, Qinghai, Xizang). The total area affected by desertification in China is approximately 2.622 million $km^2$. It covers 27.3% of the total territory of China. Until recently, it is estimated that the annual spreading ratio of desertification in China is 2,460 $km^2$. Therefore, desertification is mostly serious problems facing to the Chinese people. 2. The causes and environmental effect of desertification : The desertification in China is mainly caused by compound factors, including natural condition and human activities. In China, the desertification is started by the decrease of precipitation, continuous dry and drought, strong wind, wind and water erosion, land degradation and loss of natural vegetation caused by climate variation, and accelerated by the human activities, such as over-cultivating, over-grazing, over-cutting of woods, irrational use of water resources. Because desertification has affected the geographical features, soil nutrients contents, salinity, vegetation coverage and the functions of ecosystem, the environmental deteriorations in the desertification affected areas are very seriously. 3. The fundamental strategies of combating desertification in China are the increase of education and awareness of people through various mass media, the revision of laws to guarantee operation of Desertification Combating Law and to improve many relating laws and regulations, the application of advanced technologies and training of experts, the establishment of discriminative policies, and increasing arrangement of budget-investment, and so on. China, as a signed country in UNCCD, has made efforts for the combating desertification. Korea is also signed country in UNCCD, so we should play an important role in the desertification combating projects of China for the northest asia and global environmental conservation as well as environmental conservation of Korea.

• Development and Reproduction
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• v.13 no.4
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• pp.207-215
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• 2009

Numerous factors can affect the activities of hypothalamus-pituitary-gonad (HPG) hormonal axis, resulting in alteration of reproductive capacity or status such as onset of puberty and menopause. Soon after the finding of leptin, a multifunctional hormone secreted from adipocytes, a close relationship between reproduction and body energy balance have been manifested. Ghrelin, another multifunctional hormone from gastrointestinal tract, is an endogenous ligand of growth hormone secretagogue receptor (GHSR), and is thought to be a counterpart of leptin in the regulation of energy homeostasis. As expected, ghrelin can also modulate the reproductive capacity through the modulation of activities of HPG axis. This paper summarizes the current knowledge on the discovery, gene structures, tissue distribution and roles of ghrelin and GHSRs in mammalian reproduction in particular modulation of reproductive hormone secretion in HPG axis. Like POMC gene expression in pituitary gland, preproghrelin gene can generate a complex repertoire of transcripts which further undergo alternative splicing and posttranslational modifications. Concerning the roles of preproghrelin gene products in the control of body physiology except energy homeostasis, limited knowledge is available so far. Several lines of evidence, however, show the interplay of ghrelin between metabolism and reproduction. In rat and human, the distribution of ghrelin receptor GHSRs (GHSR1a and GHSR1b) has been confirmed not only in the hypothalamus and pituitary which were originally postulated as target of ghrelin but also in the testis and ovary. Expression of the preproghrelin gene in the brain and gonads was also verified, suggesting the local role (s) of ghrelin in HPG axis. Ghrelin might play a negative modulator in the secretions of hypothalamic GnRH, pituitary gonadotropins and gonadal steroids though the action on pituitary is still questionable. Recent studies suggest the involvement of ghrelin in regulation of puberty onset and possibly of menopause entry. It is now evident that ghrelin is a crucial hormomal component in 'brain-gut' axis, and is a strong candidate links between metabolism and reproduction. Opposite to that for leptin, ghrelin signaling is likely representing the 'hunger' state of body energy balance and is necessary to avoid the energy investment into reproduction which has not a top priority in maintaining homeostasis. Further researches are needed to gain a deep insight into the more precise action mechanism and role of ghrelin in reproduction, and to guarantee the successful biomedical applications.