• Asian Journal of Innovation and Policy
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• v.7 no.3
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• pp.581-605
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• 2018

In the soft drink industry, especially small and medium enterprises in Japan, there is a possibility of conversion from a labor-intensive industry to a capital-intensive. The demand for soft drinks may not be satisfied in the summer because the supply is too low to meet the demand. To address this situation, this paper proposes optimal investment that integrates demand uncertainty, based on real options approach (ROA) and seasonal autoregressive integrated moving average. Two alternative options are compared and evaluated. One is the Bermudan option: to employ additional workers to elevate efficiency in summer and laying off in winter, this attitude is repeated each year. The other is the American option: to replace equipment to increase machine ability throughout the year. Results in ROA show that the highest improvement is gained if the two options are in a symbiotic relationship. Soft drink producers should search for replacing equipment, using the employees repeatedly. A temporary decision is not equal to an infinite decision.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.12 no.12
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• pp.6139-6160
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• 2018

For ease of use and access, web browsers are now being used to access and modify sensitive data and systems including critical control systems. Due to their computational capabilities and network connectivity, browsers are vulnerable to several types of attacks, even when fully updated. Browsers are also the main target of phishing attacks. Many browser attacks, including phishing, could be prevented or mitigated by using site-, user-, and device-specific security configurations. However, we discovered that all major browsers expose disparate security configuration procedures, option names, values, and semantics. This results in an extremely hard to secure web browsing ecosystem. We analyzed more than a 1000 browser security configuration options in three major browsers and found that only 13 configuration options had syntactic and semantic similarity, while 4 configuration options had semantic similarity, but not syntactic similarity. We: a) describe the results of our in-depth analysis of browser security configuration options; b) demonstrate the complexity of policy-based configuration of web browsers; c) describe a knowledge-based solution that would enable organizations to implement highly-granular and policy-level secure configurations for their information and operational technology browsing infrastructures at the enterprise scale; and d) argue for necessity of developing a common language and semantics for web browser configurations.

• STI Policy Review
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• v.9 no.1
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• pp.99-132
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• 2018

Developing countries face numerous challenges in the process of building science, technology, and research capacity; in particular, the formation and accumulation of skilled S&T workforce. The lack of organized and sustainable higher education options (Master and Doctoral programs), nonexistent or low-quality academic programs, and the absence of research-oriented study options are some of the strong contributors for talented students to emigrate to developed countries. At the same time, the consolidation of a global knowledge economy, the internationalization of higher education, and the competition to attract foreign talent in industrialized countries present challenges for underdeveloped nations to retain their already scarce skilled human resources. In this context, student mobility has been used as a policy mechanism to cope with S&T workforce shortages in S&T laggard nations. It has also enabled opportunities for international cooperation to play a key role. While significant literature has been devoted to studying the gains of developed nations with the arrival and potential migration of the mobilized students, few scholarly inquiries have addressed the benefits and losses experienced by their countries of origin. More importantly, limited research can be found on policy options and policy implications for developing countries to deal with the dilemmas presented by the brain-drain/brain-circulation debate. The goal of this article is to study empirical evidence of an international cooperation initiative for student mobility between the Republic of Korea and Guatemala (implemented during 2009-2015). The paper analyzes this particular international cooperation experience from the perspective of the different actors involved and attempts to draw policy implications and policy options for developing countries to deal with potential risks and gains derived from international mobility for their S&T capacity building.

• Asian Journal of Innovation and Policy
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• v.6 no.2
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• pp.225-244
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• 2017

When evaluating the economic value of technology or business project, we need to consider the period and cost for commercialization. Since the discounted cash flow (DCF) method has limitations in that it can not consider consecutive investment or does not reflect the probabilistic property of commercialization cost, we often take it desirable to apply the concept of real options with key metrics of underlying asset value, commercialization cost, and volatility, while regarding the value of technology and investment as the opportunity value. We at this moment provide more elaborated real options model with the effective region of volatility, which reflects the uncertainty in the option pricing model (OPM).

• Korean Journal of Social Welfare
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• v.69 no.2
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• pp.9-30
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• 2017

Generally, regime shift occurs less frequently than policy change and/or government change. Regime shift needs alterations and changes along the three critical components which constitute a domestic regime: (1) the character of the socioeconomic coalition that rules the country; (2) the political and economic institutions through which power is acquired and exercised; and (3) the public policy profile that give political direction to the nation. This paper tries to examine characteristics of the welfare regime of Korea, and explore policy reform options for the welfare regime shift in Korea. From the viewpoint of livelihood security perspective, I firstly tries to examine development process of Korean welfare regime and specify the main characteristics of that regime. Secondly, I present three policy reform options: (1) reform of the formal political institutions such as electoral system and government type; (2) restructuring of the composition of government expenditure structure; and (3) reduction of the informal employment. These three policy reform options are related to the alteration of socioeconomic coalitions and the changes of the political and economic institutions. Instead of concluding remarks, I finally suggest two debate topics to the round table discussion.

• Korean System Dynamics Review
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• v.8 no.2
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• pp.5-23
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• 2007

According to the system dynamics model of this study, if there is a significant network effect on vehicle operating costs, it is difficult to achieve the shift to AFV even in the long term without a policy intervention because the car market is locked in to the current structure. Network effect can be caused by an increasing return to scale in fuel supply sector as well as in maintenance service sector. It is also related to the fact that the reliability and awareness of consumers on new products increases with the growth of the market share of the new products. There are several possible policy options to break the 'locked in' structure of car market, such as subsidy on vehicle price (capital cost), subsidy on fuel (operating cost) and niche management policy. Combined policy options would be more effective than relying on a single policy option to increase the market share of AFV.

• Proceedings of the Korean Radioactive Waste Society Conference
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• 2005.06a
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• pp.56-66
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• 2005

In response to the increasing emphasis being placed on the importance of international cooperation as part of global efforts to cope with growing non proliferation, and security, concerns in the nuclear field, the Director General of the International Atomic Energy Agency (IAEA), Mohamed ElBaradei, appointed an international group of experts to consider possible multilateral approaches to the nuclear fuel cycle. The mandate of the Expert Group was three fold: ${\bullet}$ To identify and provide an analysis of issues and options relevant to multilateral approaches to the front and back ends of the nuclear fuel cycle; ${\bullet}$ To provide an overview of the policy, legal, security, economic, institutional and technological incentives and disincentives for cooperation in multilateral arrangements for the front and back ends of the nuclear fuel cycle; and ${\bullet}$ To provide a brief review of the historical and current experiences and analyses relating to multilateral fuel cycle arrangements relevant to the work of the Expert Group. The overall purpose was to assess MNAs in the framework of a double objective: strengthening the international nuclear non proliferation regime and making the peaceful uses of nuclear energy more economical and attractive. The Group identifies options for MNAs - options in terms of policy, institutional and legal factors - for those parts of the nuclear fuel cycle of greatest sensitivity from the point of view of proliferation risk. It also reflects the Groups deliberations on the corresponding benefits and disadvantages (pros and cons) of the various options and approaches. Although the Expert Group was able to agree to forward the resulting report to the Director General, it is important to note that the report does not reflect agreement by all of the experts on any of the options, nor a consensus assessment of their respective value. It is intended only to present options for MNAs, and to reflect on the range of considerations which could impact on the desirability and feasibility of those options.

• Environmental and Resource Economics Review
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• v.27 no.4
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• pp.639-666
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• 2018

This paper analyses the investment options of groundwater development project under water price uncertainty. The optimal investment threshold price which trigger the investment are calibrated base on monopolistic real options model. Stochastic dynamic model is set to reflect the uncertainty of water price which follows the GBM (Geometric Brownian Motion) process. Our finding from non-cooperative investment decision model is that uncertainty of water price could deter the groundwater investment by considering the existence of option values. For policy markers, it is easy to manage 'charges for utilization of groundwater' rather than 'performance guarantee ratio' when managing groundwater investment with pricing policy. And it is necessary to make comprehensive and well-designed policies considering the characteristics of regional groundwater reservoir and groundwater developers.

• STI Policy Review
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• v.2 no.2
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• pp.1-9
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• 2011

Innovation Policy has evolved to solve social problems through technological innovation. Industrial innovation policy promotes technological innovation so that it consolidates industrial competitiveness and aims at economic growth; however, societal innovation policy promotes technological innovation in the social service domain to improve the quality of life and strengthen sustainability. A different policy regime is required because the objectives and directions of societal innovation policy are different from those of industrial innovation policy. This report consolidates the concepts and characteristics of societal innovation policy that suggest policy options.

• The Journal of Korean Institute for Practical Engineering Education
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• v.4 no.2
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• pp.144-149
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• 2012

This paper reviews the uncovered people of the Korean Employment Insurance System (EIS) and analyzes policy options for minimizing the dead zone of the EIS. There are several policy options such as subsidizing insurance premium to employers and employees of small companies, extending coverage of excluded groups, relaxing qualifications of unemployment benefits and increasing benefit period and level, introducing the unemployment assistance system, introducing the unemployment insurance savings account system, extending coverage to non-wage workers and individualizing package services. According to the survey to the specialists and comparative evaluation criteria, the best policy option to minimize the dead zone of the EIS was to activate individualizing package services of intensive consultation, job place services, tailored vocational training, income support, daycare services, etc. to cure complex employment barriers of job seekers.