• KDI Journal of Economic Policy
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• v.32 no.2
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• pp.171-216
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• 2010

With the payment and settlement systems becoming more and more complex and interconnected, the issue of their interdependency rises as an important academic issue as well as a policy topic. This study examines causes, forms, and risk management of interdependencies of payment and settlement systems in Korea, and presents their current situation. By way of simulations using BOF-PSS2 developed by the Bank of Finland, we quantify the effects of an operational disruption on the payment and settlement systems so as to figure out the degree of interdependency. As a result, the secondary round effect reaches up to ￦13.6 trillion a day, which amounts to 7.8% of the daily settlement value. Furthermore, if we also consider the amount of direct operational disruption, the volume of operational disruption occupies 22.3% of total value of the daily settlement, evidencing that the interdependencies of the payment and settlement systems in Korea is enormously widespread. The secondary round effects are found to be more severe with security companies rather than with banks, and to be more depended upon when it is perceived rather than it actually happens. In case that we expand the liquidity to include cash holdings and deposits as assets, the secondary round effect dramatically decreases in all types of financial institutions while foreign banks account for more share of all the secondary round effects increases. Based on these results, we suggest various policy tasks and directions to improve the risk management of settlement systems: expansion of off-setting settlements, introduction of a new settlement system for securities transactions, rapid provision of liquidity to financial institutions, more effective monitoring on participant institutions, and intensified information sharing and cooperation among the systems.

• Journal of Global Scholars of Marketing Science
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• v.19 no.3
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• pp.17-27
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• 2009

Price promotion typically reduces the price for a given quantity or increases the quantity available at the same price, thereby enhancing value and creating an economic incentive to purchase. It often is used to encourage product or service trial among nonusers of products or services. Thus, it is important to understand the effects of price promotions on quality perception made by consumer who do not have prior experience with the promoted brand. However, if consumers associate a price promotion itself with inferior brand quality, the promotion may not achieve the sales increase the economic incentives otherwise might have produced. More specifically, low qualitative perception through price promotion will undercut the economic and psychological incentives and reduce the likelihood of purchase. Thus, it is important for marketers to understand how price promotional informations about a brand have impact on consumer's unfavorable quality perception of the brand. Previous literatures on the effects of price promotions on quality perception reveal inconsistent explanations. Some focused on the unfavorable effect of price promotion on consumer's perception. But others showed that price promotions didn't raise unfavorable perception on the brand. Prior researches found these inconsistent results related to the timing of the price promotion's exposure and quality evaluation relative to trial. And, whether the consumer has been experienced with the product promotions in the past or not may moderate the effects. A few studies considered differences among product categories as fundamental factors. The purpose of this research is to investigate the effect of price promotional informations on consumer's unfavorable quality perception under the different conditions. The author controlled the timing of the promotional exposure and varied past promotional patterns and information presenting patterns. Unlike previous researches, the author examined the effects of price promotions setting limit to pretrial situation by controlling potentially moderating effects of prior personal experience with the brand. This manipulations enable to resolve possible controversies in relation to this issue. And this manipulation is meaningful for the work sector. Price promotion is not only used to target existing consumers but also to encourage product or service trial among nonusers of products or services. Thus, it is important for marketers to understand how price promotional informations about a brand have impact on consumer's unfavorable quality perception of the brand. If consumers associate a price promotion itself with inferior quality about unused brand, the promotion may not achieve the sales increase the economic incentives otherwise might have produced. In addition, if the price promotion ends, the consumer that have purchased that certain brand will likely to display sharply decreased repurchasing behavior. Through a literature review, hypothesis 1 was set as follows to investigate the adjustive effect of past price promotion on quality perception made by consumers; The influence that price promotion of unused brand have on quality perception made by consumers will be adjusted by past price promotion activity of the brand. In other words, a price promotion of an unused brand that have not done a price promotion in the past will have a unfavorable effect on quality perception made by consumer. Hypothesis 2-1 was set as follows : When an unused brand undertakes price promotion for the first time, the information presenting pattern of price promotion will have an effect on the consumer's attribution for the cause of the price promotion. Hypothesis 2-2 was set as follows : The more consumer dispositionally attribute the cause of price promotion, the more unfavorable the quality perception made by consumer will be. Through test 1, the subjects were given a brief explanation of the product and the brand before they were provided with a $2{\times}2$ factorial design that has 4 patterns of price promotion (presence or absence of past price promotion * presence or absence of current price promotion) and the explanation describing the price promotion pattern of each cell. Then the perceived quality of imaginary brand WAVEX was evaluated in the scale of 7. The reason tennis racket was chosen is because the selected product group must have had almost no past price promotions to eliminate the influence of average frequency of promotion on the value of price promotional information as Raghubir and Corfman (1999) pointed out. Test 2 was also carried out on students of the same management faculty of test 1 with tennis racket as the product group. As with test 1, subjects with average familiarity for the product group and low familiarity for the brand was selected. Each subjects were assigned to one of the two cells representing two different information presenting patterns of price promotion of WAVEX (case where the reason behind price promotion was provided/case where the reason behind price promotion was not provided). Subjects looked at each promotional information before evaluating the perceived quality of the brand WAVEX in the scale of 7. The effect of price promotion for unfamiliar pretrial brand on consumer's perceived quality was proved to be moderated with the presence or absence of past price promotion. The consistency with past promotional behavior is important variable that makes unfavorable effect on brand evaluations get worse. If the price promotion for the brand has never been carried out before, price promotion activity may have more unfavorable effects on consumer's quality perception. Second, when the price promotion of unfamiliar pretrial brand was executed for the first time, presenting method of informations has impact on consumer's attribution for the cause of firm's promotion. And the unfavorable effect of quality perception is higher when the consumer does dispositional attribution comparing with situational attribution. Unlike the previous studies where the main focus was the absence or presence of favorable or unfavorable motivation from situational/dispositional attribution, the focus of this study was exaus ing the fact that a situational attribution can be inferred even if the consumer employs a dispositional attribution on the price promotional behavior, if the company provides a persuasive reason. Such approach, in academic perspectih sis a large significance in that it explained the anchoring and adjng ch approcedures by applying it to a non-mathematical problem unlike the previous studies where it wis ionaly explained by applying it to a mathematical problem. In other wordn, there is a highrspedency tmatispositionally attribute other's behaviors according to the fuedach aal attribution errors and when this is applied to the situation of price promotions, we can infer that consumers are likely tmatispositionally attribute the company's price promotion behaviors. Ha ever, even ueder these circumstances, the company can adjng the consumer's anchoring tmareduce the po wibiliute thdispositional attribution. Furthermore, unlike majority of previous researches on short/long-term effects of price promotion that only considered the effect of price promotions on consumer's purchasing behaviors, this research measured the effect on perceived quality, one of man elements that affects the purchasing behavior of consumers. These results carry useful implications for the work sector. A guideline of effectively providing promotional informations for a new brand can be suggested through the outcomes of this research. If the brand is to avoid false implications such as inferior quality while implementing a price promotion strategy, it must provide a clear and acceptable reasons behind the promotion. Especially it is more important for the company with no past price promotion to provide a clear reason. An inconsistent behavior can be the cause of consumer's distrust and anxiety. This is also one of the most important factor of risk of endless price wars. Price promotions without prior notice can buy doubt from consumers not market share.

• Journal of the Korean Society of Food Science and Nutrition
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• v.34 no.1
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• pp.66-74
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• 2005

This survey was conducted to assess the consumer perceptions of food-related hazard in 500 housewives from all over Korea. The subjects were selected by stratified random sampling method. The survey was performed using structured questionnaire through telephone interview by skilled interviewers. The results showed that 34.6% of the respondents felt secure and were not concerned about food safety, and 65.4% were concerned about food safety. Logistic regression analysis showed that the increasing concern on food brands, food additives (such as food preservatives and artificial color), and imported foodstuffs indicated the current increasing concern on food safety. Other related factors indicating the increasing concern on food safety were education level and care for children's health. The respondents who cared about food safety expressed a high degree of concern on processed foodstuffs such as commercial boxed lunch (93.3%), imported foods (92.7%), fastfoods (89.9%), processed meat products (88.7%), dining out (85.6%), cannery and frozen foods (83.5%), and instant foods (82.0%). The lowest degree of concern was on rice. All the respondents perceived that residues of chemical substances such as pesticides and food additives, and endocrine disrupters were the most potential food risk factors, followed by food-borne pathogens, and GMOs (Genetically Modified Organisms). However, these results were not consistent with scientific judgment. Therefore, more education and information were needed for consumers' awareness of facts and myths about food safety. In addition, the results showed that consumers put lower trust in food products information such as food labels, cultivation methods (organic or not), quality labels, and the place of origin. Nevertheless, the respondents expressed their desire to overcome alienation, and recognized the importance of knowing of the origin or the producers of food. They identified that people who need to take extreme precautions on food contamination were the producers, government officials, food companies, consumers, the consumer's association, and marketers, arranged in the order of highest to lowest. They also believed that the production stage of agriculture was the most important step for improving the level of food safety Therefore, the results indicated that there is a need to introduce safety systems in the production of agricultural products, as follows: Good Agricultural Practice (GAP), Hazard Analysis and Critical Control Point (HACCP), and Traceability System (75).

• Journal of Intelligence and Information Systems
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• v.20 no.4
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• pp.141-154
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• 2014

The adoption of International Financial Reporting Standards (IFRS) is the one of important issues in the recent accounting research because the change from local GAAP (Generally Accepted Accounting Principles) to IFRS has a substantial effect on accounting information. Over 100 countries including Australia, China, Canada and the European Union member countries adopt IFRS (International Financial Reporting Standards) for financial reporting purposes, and several more including the United States and Japan are considering the adoption of IFRS (International Financial Reporting Standards). In Korea, 61 firms voluntarily adopted Korean International Financial Reporting Standard (K-IFRS) in 2009 and 2010 and all listed firms mandatorily adopted K-IFRS (Korea-International Financial Reporting Standards) in 2011. The adoption of IFRS is expected to increase financial statement comparability, improve corporate transparency, increase the quality of financial reporting, and hence, provide benefits to investors This study investigates whether recognized accounts receivable discounting (AR discounting) under Korean International Financial Reporting Standard (K-IFRS) is more value relevant than disclosed AR discounting under Korean Generally Accepted Accounting Principles (K-GAAP). Because more rigorous standards are applied to the derecognition of AR discounting under K-IFRS(Korea-International Financial Reporting Standards), most AR discounting is recognized as a short term debt instead of being disclosed as a contingent liability unless all risks and rewards are transferred. In this research, I try to figure out industrial responses to the changes in accounting rules for the treatment of accounts receivable toward more strict standards in the recognition of sales which occurs with the adoption of Korea International Financial Reporting Standard. This study examines whether accounting information is more value-relevant, especially information on accounts receivable discounting (hereinafter, AR discounting) is value-relevant under K-IFRS (Korea-International Financial Reporting Standards). First, note that AR discounting involves the transfer of financial assets. Under Korean Generally Accepted Accounting Principles (K-GAAP), when firms discount AR to banks before the AR maturity, firms conventionally remove AR from the balance-sheet and report losses from AR discounting and disclose and explain the transactions in the footnotes. Under K-IFRS (Korea-International Financial Reporting Standards), however, most firms keep AR and add a short-term debt as same as discounted AR. This process increases the firms' leverage ratio and raises the concern to the firms about investors' reactions to worsening capital structures. Investors may experience the change in perceived risk of the firm. In the study sample, the average of AR discounting is 75.3 billion won (maximum 3.6 trillion won and minimum 18 million won), which is, on average 7.0% of assets (maximum 38.6% and minimum 0.002%), 26.2% of firms' accounts receivable (maximum 92.5% and minimum 0.003%) and 13.5% of total liabilities (maximum 69.5% and minimum 0.004%). After the adoption of K-IFRS (Korea-International Financial Reporting Standards), total liabilities increase by 13%p on average (maximum 103%p and minimum 0.004%p) attributable to AR discounting. The leverage ratio (total liabilities/total assets) increases by an average 2.4%p (maximum 16%p and minimum 0.001%p) and debt-to-equity ratio increases by average 14.6%p (maximum 134%p and minimum 0.006%) attributable to the recognition of AR discounting as a short-term debt. The structure of debts and equities of the companies engaging in factoring transactions are likely to be affected in the changes of accounting rule. I suggest that the changes in accounting provisions subsequent to Korea International Financial Reporting Standard adoption caused significant influence on the structure of firm's asset and liabilities. Due to this changes, the treatment of account receivable discounting have become critical. This paper proposes an intelligent diagnostic system for estimating negative impact on stock value with self-organizing maps and case based reasoning. To validate the usefulness of this proposed model, real data was analyzed. In order to get the significance of this proposed model, several models were compared to the research model. I found out that this proposed model provides satisfactory results with compared models.

• Journal of Intelligence and Information Systems
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• v.24 no.1
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• pp.53-74
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• 2018

Since South Korea has an economic structure that has a characteristic which market-dependent on overseas, the tourism industry is considered as a very important industry for the national economy, such as improving the country's balance of payments or providing income and employment increases. Accordingly, the necessity of more accurate forecasting on the demand in the tourism industry has been raised to promote its industry. In the related research, economic variables such as exchange rate and income have been used as variables influencing tourism demand. As information technology has been widely used, some researchers have also analyzed the effect of media on tourism demand. It has shown that the media has a considerable influence on traveler's decision making, such as choosing an outbound destination. Furthermore, with the recent availability of online information searches to obtain the latest information and two-way communication in social media, it is possible to obtain up-to-date information on travel more quickly than before. The information in online media such as blogs can naturally create the Word-of-Mouth effect by sharing useful information, which is called eWOM. Like all other service industries, the tourism industry is characterized by difficulty in evaluating its values before it is experienced directly. And furthermore, most of the travelers tend to search for more information in advance from various sources to reduce the perceived risk to the destination, so they can also be influenced by online media such as online news. In this study, we suggested that the number of online media posting, which causes the effects of Word-of-Mouth, may have an effect on the number of outbound travelers. We divided online media into public media and private media according to their characteristics and selected online news as public media and blog as private media, one of the most popular social media in tourist information. Based on the previous studies about the eWOM effects on online news and blog, we analyzed a relationship between the volume of eWOM and the outbound tourism demand through the panel model. To this end, we collected data on the number of national outbound travelers from 2007 to 2015 provided by the Korea Tourism Organization. According to statistics, the highest number of outbound tourism demand in Korea are China, Japan, Thailand, Hong Kong and the Philippines, which are selected as a dependent variable in this study. In order to measure the volume of eWOM, we collected online news and blog postings for the same period as the number of outbound travelers in Naver, which is the largest portal site in South Korea. In this study, a panel model was established to analyze the effect of online media on the demand of Korean outbound travelers and to identify that there was a significant difference in the influence of online media by each time and countries. The results of this study can be summarized as follows. First, the impact of the online news and blog eWOM on the number of outbound travelers was significant. We found that the number of online news and blog posting have an influence on the number of outbound travelers, especially the experimental result suggests that both the month that includes the departure date and the three months before the departure were found to have an effect. It is shown that online news and blog are online media that have a significant influence on outbound tourism demand. Next, we found that the increased volume of eWOM in online news has a negative effect on departure, while the increase in a blog has a positive effect. The result with the country-specific models would be the same. This paper shows that online media can be used as a new variable in tourism demand by examining the influence of the eWOM effect of the online media. Also, we found that both social media and news media have an important role in predicting and managing the Korean tourism demand and that the influence of those two media appears different depending on the country.

• Journal of environmental and Sanitary engineering
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• v.18 no.1
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• pp.51-57
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• 2003

Indoor air quality(IAQ) in workplace and residential environments has been concern of people. Recently, Ministry of Environment in Korea has recognized the potential risk on the healthy effect related to indoor air pollution at home. Therefore, the purpose of this study was performed to measure the indoor air pollutants of IAQ at different homes and investigate to compare the perception of IAQ recognition at home from questionnaire survey in Seoul. We estimated the IAQ of selected 6 homes based on site region and housing type. The indoor air pollutants and parameters such as temperature, relative humidity, respirable suspended particulate matter($PM_{10}$), formaldehyde(HCHO), total bacteria counts, carbon monooxide(CO) and carbon dioxide($CO_2$) were monitored for summer and winter. In monitoring results, the respirable suspended particulate matter(($PM_{10}$) and indoor airborne bacteria level of home 5 and 6 were higher than the standard of the public $150{\;}{\mu}g/m^3$ and $500{\;}{\mu}g/m^3$, the level formaldehyde(HCHO) was exceed 0.1 ppm of the standard of Korea at all monitored homes. In statistics analysis, we could find a correlation between the building age and the concentration of CO, TBC were significant at 0.01 level and Relative Humidity was significant at 0.05 level for summer. Finally, the important air pollutants of IAQ in home were HCHO and total bacteria counts(TBC). And we performed a questionnaire survey of 500 people about their awareness for the importance of IAQ in our home during same period. In results, all most response of occupant has recognized the importance of IAQ at home. Therefore, it can be concluded that the IAQ of selected 6 home studied was perceived as acceptable, it is recommended that the government related IAQ was suggested the guideline and control of IAQ problems, and the occupants need to be effort to reduce the exposure of sources to undesirable pollutants.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.5
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• pp.117-128
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• 2016

In order to extend FOO, this research has the object to demonstrate existing the difference of transferred essence and value between the types of factories(Original factory vs Extended factory). A safety product should save consumers from possible harm or risk, but it sometimes gives directly some damage to consumers. For example, like the issue of a germicide problem in 2016, a germicide killed consumers because of harmful chemistry even it should kept their health. This situation refer to 'Safety product betrayal', we expected that safety product betrayal presence/absence conditions moderate the relationship between types of factories, transferred essence and value. We selected a car air-bag as a safety product for study and implemented one study with total 213 participants. As a result, the participants evaluated the value of an air-bag manufactured throughout an original factory higher than the value of an air-bag manufactured throughout an extended factory. Futhermore, they evaluated the transferred brand essence of an original factory's air-bag higher than an extended factory's. However, in the safety product betrayal presence condition, the difference of value and transferred essence between an original factory and an extend factory was disappeared. Indeed, once consumers experienced or saw safety product betrayal, they avoided to buy or use safety products. Therefore, consumers evaluated the value and transferred essence of betrayed safety products is low without the types of manufacturing factories. From the past to now, there was no paper about the relationship between the types of manufacturing factories(Orignal factory vs Extended factory) and safety product betrayal in Korea. Therefore, this research on FOO and safety product betrayal can give new theoretical and operational contribution. In the conclusion, we discussed the contribution of the study results and proposed the limitation and future study.

• Pediatric Infection and Vaccine
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• v.20 no.3
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• pp.147-160
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• 2013

Purpose: Although the overall incidence of hepatitis A in Korea has been decreasing recently, the adolescents born before the introduction of the hepatitis A vaccine remain to be highly vulnerable to outbreak. This study examines the unvaccinated adolescents' and their parents' knowledge and health beliefs toward hepatitis A vaccination. Methods: Healthy adolescents aged 13-19 years old who had no previous history of hepatitis A vaccine and hepatitis A infection, and their parents or legal guardians were the subjects of the study. The survey was conducted using a structured questionnaire based on the Health Belief Model, and examined the subjects' demographics, knowledge, and health beliefs (i.e., perceived susceptibility, severity, benefits, and barriers). Results: We included 157 adolescents and their parents/guardians (mean age: $16.0{\pm}1.6$ and $45.6{\pm}4.7$ years, respectively). The average knowledge item score for adolescents and parents was $6.4{\pm}3.7$ and $7.3{\pm}3.4$ (out of 18), respectively. Similarly, average Health Belief Model item scores were: susceptibility, $5.6{\pm}1.6$ and $5.9{\pm}1.7$ (range: 2-10); severity, $16.3{\pm}4.1$ and $18.3{\pm}3.6$ (range:5-25); benefits, $19.7{\pm}3.3$ and $20.6{\pm}2.1$ (range:5-25); and barriers, $41.3{\pm}8.9$ and $39.0{\pm}9.1$ (range:7-85). The major reason for not undergoing hepatitis A vaccination was lack of knowledge about its importance. Conclusions: Refresher health lectures about hepatitis A and the vaccine are needed by both the adolescents and their parents. Furthermore, the inclusion of hepatitis A vaccine in the national immunization program should be considered to reduce the risk of hepatitis A outbreak and to raise the vaccination coverage among the adolescents in Korea.

• Journal of Technologic Dentistry
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• v.28 no.1
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• pp.177-198
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• 2006

This study purposed to offer basic data for safety education of the dental laboratory technology after the investigation of how much the students in the dept. of dental laboratory technology are aware of the danger of each instrument, equipment or laboratory procedure that they use during laboratory and how much they demand safety education for this. The objects for this study were 423 students who were in the dept. of dental laboratory technology. In this regard, four colleges which have the dept. of dental laboratory technology were randomly selected to do a questionnaire survey. SPSS 12.0 was used to analyze the collected data. The results were as follows: As for satisfaction with their major, the respondents answered Satisfied (59.1%), Average (35.5%) and Dissatisfied (5.4%). In terms of the production process of a partial denture, they considered casting, polishing the casting body, polishing denture and burn out were most dangerous in order. As for the production process of a full denture, what they regarded as the most dangerous in order was polishing denture, deflasking and wax wash. Regarding the laboratory procedures of porcelain material, casting, trimming casting body, polishing porcelain material and burn out were the most dangerous procedures that they perceived. With regard to materials for use, alcohol, polishing, metal and wire were the most dangerous ones they thought. As for the handling characteristics of each material, small towns showed a higher demand for safety of the handling characteristics of alcohol. In terms of school year and sex, juniors and girls had higher scores in the demand for safety of the handling characteristics of acid. Regarding the handling characteristics of each equipment and instrument, all of small towns, juniors and girls showed the highest demand for safety of the handling characteristics of alcohol lamps. With regard to scores in the demand for safety of other characteristics, all of small towns, juniors and girls had the highest demand for safety of emergency treatment. Concerning the demand for safety education by the completion of safety education, in terms of each material, highest was the demand for safety of acid from the group which completed safety education. In regard to equipments and instruments, when it came to the demand for safety of the handling characteristics of casting machine, the educated group's demand for safety of acid was higher. Regarding other characteristics, the group which was not educated gained higher scores in the demand for safety of emergency treatment. 11. In all areas(materials, machines and others), small towns, girls and juniors showed higher scores in the demand for safety. Based on the above results, it was found that when students conduct the laboratory of dental technology, they would think that many materials, instruments or equipments for use are very dangerous. However, safety education was not fully given to them. Regarding the scores in the damned for safety education, the highest was 4.16 and the lowest was 3.43, which suggests that the scores were generally very high. In this regard, it is necessary to continue delivering a systematic safety education of materials, equipments or instruments used during the laboratory of dental technology. Therefore, through the analysis of each material, instruments or facility used in every laboratory and each process, safety accident types and accident risk factors should be investigated to develop educational materials for this. Moreover, it is required to open safety education as a single course of study or insert safety contents of all materials and machines into the class of dental laboratory instrument or dental materials for the purpose of a systematic and thorough safety education to prevent a safety accident during laboratory.

• Clinical and Experimental Pediatrics
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• v.53 no.3
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• pp.364-372
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• 2010

Purpose : Good adherence of caregivers is essential for successful health outcomes in the treatment of childhood asthma. The purpose of this study was to identify the factors contributing to good adherence of maintenance treatment in children with well-controlled asthma. Methods : Children with well-controlled asthma being treated with a daily controller for at least 3 months in Korea University Anam Hospital were selected. Their caregivers who had good adherence to maintenance treatment were recruited. Qualitative study through in-depth interviews was conducted with 18 caregivers who agreed to the study. Results : The 18 caregivers (mean age, 40.0 years) consisted of 15 mothers, 2 grandmothers, and 1 father. The resulting consensus were identified and grouped into 2 domains: the caregiver/patient aspect with 8 theme factors and the treatment aspect with 4 theme factors. The main theme factors in the caregiver/patient aspect were enabling participation in physical activities and exercise (77.8%), perceptions regarding asthma and the need for long-term treatment (50.0%), and perceived value of the medications outweighing the risk of side effects (38.9%). The main theme factors in the treatment aspect were trust in the physician (77.8%), general satisfaction with the manner and attitude of the physician (77.8%) and verification of the necessity of further treatment by performing tests (38.9%). Conclusion : Efforts to improve caregivers' adherence to the treatment of childhood asthma must include a range of factors related to both caregiver/patient aspects and treatment aspects. Among all of these factors, it may be most important to establish a physician-caregiver partnership.