• The Journal of Asian Finance, Economics and Business
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• v.9 no.4
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• pp.213-228
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• 2022

This paper investigates the association between key corporate governance characteristics and the performance of general insurance businesses listed on the Saudi stock exchange (TADAWUL). The methodology for the study is based on a pooled data collection for 11 Saudi general insurance companies from 2011 to 20. The linear regression model and the logarithm regression model are suggested to assess the relationship between performance and corporate governance characteristics. The dependent variable is firm performance measured using ROA, ROE, and Tobin's Q. The independent variables are corporate governance variables consisting of a complete set of board and audit committee characteristics. Insurer-specific control variables are introduced. The empirical results reveal that the characteristics of corporate governance influence the performance of insurance companies. In particular, the board size, board's tenure, the proportion of independent directors in the board, audit committee size, audit committee meeting frequency, and proportion of health insurance premiums have a positive impact. However, audit committee independence, size of the company, and proportion of reinsurance premiums have a negative impact on the performance of the Saudi general insurance companies. Finally, the empirical results indicated also that there is an unclear relationship between the performance and board meeting frequency, compensations of the Board, and the average age of the Board.

• Korean Journal of Construction Engineering and Management
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• v.15 no.5
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• pp.94-102
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• 2014

This study analyzes necessity of expanding construction insurance and estimates required budget. Construction insurance is obliged by National Contract Law and Local Contract Law to protect projet owners and contractors from any unexpected construction risk such as financial losses in construction process. Currently the contracts of design-build and alternate-bid projects as well as PQ project, which are greater than 20 billion won, require the contractors to provide construction insurances in Korea. Insurance premiums are borne by the public project owner. Those contractors whose contract volume is less than 20 billion won burden all risks of projects at their cost. This causes equity problem. Because small-and-medium contractors are discriminated against large contractors since insurance-obliged projects are performed by large contractors and insurance premiums are borne by the public project owner. On the other hands, in all engineering projects, regardless of volume, insurance premiums are borne by the project owner. Therefore current regulation has to be improved, by expanding to all public projects. The average ratio of unobliged projects is 46%, in recent 3 years, prime cost of insurance companies is estimated 0.2%. Moreover considering risks of each construction type, prime cost of unobliged works is estimated as 0.13%. Hence additional necessary budget is estimated to be 2.09 billion won if total volume of public work is 3.5 trillion won. And 2.39 billion won is derived if total volume of public projects is 4 trillion won.

• The Korean Society of Law and Medicine
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• v.20 no.1
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• pp.203-242
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• 2019

Since 2006, local governments in Korea have been providing premiums for social insurance, such as the National Health Insurance System, for the health care of local residents. The purpose of this study is to analyze the content of self-governing legislation that defines these policies. The method of conducting the research was based on the articles of the ordinance related to the 'public health insurance premium' of the self-governing statutes published on the website of the National Law Information Center. As of May 2019, 201 municipalities have enacted ordinances to support public health insurance premiums. In the case of state local governments, 8 out of 17 were found, and in the case of basic local governments, 193 out of 226. The constitution of the ordinance consisted of purpose, time of enactment, type of social insurance premium, object of social insurance premium, amount of social insurance premium support, method and process of social insurance premium support, time of social insurance premium support. This study analyzed contents of these articles. Finally, this study presented issues that could be controversial from the policy and legal viewpoints and suggestions for improvement.

• The Korean Journal of Financial Management
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• v.8 no.2
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• pp.209-255
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• 1991

This paper develops a simple model to explain the reasons why foreign acquirers pay significantly higher premiums for U.S. target firms than do U.S. buyers. We also provide empirical work on the valuation effect of foreign takeovers and the determinants of the wealth gains of U.S. target shareholders involved in foreign takeovers. The results indicate that target wealth gains are significantly higher in foreign takeovers than in domestic takeovers, after controlling for the wealth effects of payment method, acquisition type, tax status, size and time period of bids. This confirms the valuation effect of foreign takeovers. Furthermore, the results of cross-sectional regression analysis show that the variation in U.S. target wealth gains is explained by extra tax benefits stemming from double tax deductions for acquisition-related interest expenses incurred by foreign acquirers. These findings imply that differential taxation across tax jurisdictions is the main source of the valuation effect of foreign takeovers. In addition, we find that there exists a valuation effect of the nationality of the foreign acquirers. Japanese companies pay significantly higher premiums than do non-Japanese acquirers. The finding also indicates that competition among bidders increases the abnormal returns to U.S. target shareholders in foreign takeovers.

• Korean Management Science Review
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• v.11 no.3
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• pp.153-167
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• 1994

Credibility theory has provided with a useful tool the assignment of weighting factor that reflects the credibility of the observed individual and collective experience to secure fair experience rate-,making. We review credibility models which can effectively estimate risk premiums using credibility theory, and suggest an empirical Bayed model based on the collective statistics to estimate the structural parameters. To illustrate the use of evolutionary models, the models are applied to the actual data, such as loss ratio, claim frequencies and severity, in the Korean automobile insurance. Also the possibilities of generalizations and applications of empirical models are discussed.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2000.11a
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• pp.259-277
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• 2000

In this paper, we suggest theoretical grounds on the problem of R&D portfolio with different option premiums utilizing the Real Options Model, which has received intensified attention as the method of assessment of R&D project with high risk. Even though there have been many studies focused on the evaluation of option value of single project from technology valuation's perspective. there are few study on the portfolio of multiple technology investment by option value using. This paper bears practical importance by showing simple examples with the option value of investment alternatives and the valuation of related risk, the construction of optimum portfolio in technology investment alternatives.

• Korean Journal of Labor Studies
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• v.23 no.2
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• pp.47-77
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• 2017

This paper analyzes the changes in wage inequality and its contributing factors since the mid-2000s. Although trends vary by data and wage indices, the Gini coefficient of the total wage of all workers shows an increasing trend due to the part-time increase of less than 35 hours per week, while the wage Gini coefficient of hourly wages and the total wage Gini coefficient of full-time workers showed a declining trend. Part-time increases have increased inequality based on total wages, but part-time hourly wage increases can be considered to have reduced hourly wage inequality. Therefore, as a result of decomposing the factor of Gini coefficient reduction only for full-time workers, factors that contributed absolutely to inequality reduction were variables such as job tenure, career, and occupation, and employment type variable has little effects, and the establishment size variable deepens inequality. The variables such as industry, age, and education did not contribute significantly to the inequality change. This is attributed to the decline in wage premiums for job tenure and management and professional jobs and the increase in wage premiums for large-scale businesses.

• Journal of the Korean Society of Safety
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• v.35 no.6
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• pp.78-84
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• 2020

The F&EI technique is one of the risk assessments with many advantages. It can save time and effort compared to quantitative risk assessment (QRA). By using the evaluation result of this technique, it is possible to check the effectiveness of the investment cost. In addition, a relative risk ranking can be created and used to establish the facility management cycle and to prioritize investment. However, evaluating the target process can be evaluated more than the actual risk since the LCCF, a loss prevention measure, is too limited. In addition, calculating premiums via this method can result in excessive premiums, making it difficult to evaluate the risk precisely. Therefore, new safety guard was added to the LCCF of the F&EI risk assessment with reference to HAZOP and LOPA techniques. Newly added LCCFs are Deflagration arrester, Check valve, SIS, and Vacuum beaker, etc. As a case study, F&EI risk assessment was performed on Acetone storage tank of a API (Active pharmaceutical ingredient) plant to compare actual MPPD. The estimated loss amount was 592,558$ for the existing technique and 563,571$ for the improved technique, which was reduced by about 5% compared to the previous one.This proved that a more precise evaluation is possible and that the efforts for safety at the workplace are reflected in the evaluation results.

• Korean Medical Education Review
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• v.24 no.1
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• pp.10-17
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• 2022

South Korea is not a wasteland of publicly funded health care-instead, it has a good medical social security system known as the national health insurance (NHI). The NHI of Korea has three unique features; (1) low premiums, low insurance fees, and low coverage; (2) obligatory designation of medical institutions; (3) and allowance of non-benefit services. These features have made hospitals and doctors interested in profit-seeking. However, the commercialization of medical institutions has taken place in both private- and public-established sectors. A basic problem of commercialization is the co-existence of the obligatory designation of medical institutions and non-benefit services. The problem became worse in the Kim Dae-Jung government because it officially permitted non-benefit services. Since 2000, the Korean government has consistently pursued benefit extension policies, but the coverage rates of the NHI have stagnated. In addition, premiums and current medical expenses have markedly increased because policy-makers have emphasized accessibility to the NHI, while ignoring important principles of medical social security such as a needs-based approach and patient-referral system. In order to resolve the commercialization problem, the obligatory designation of medical institutions to the NHI should be changed to a contract system, and non-benefit services should be prohibited at NHI institutions. We must re-establish the patient-referral system via a needs-based approach. We also need to build a primary healthcare system and public health policies. We should make a long-term plan for healthcare reform.

• The Journal of the Korea institute of electronic communication sciences
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• v.19 no.3
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• pp.577-582
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• 2024

In 2007, the first domestic pet insurance policies were introduced, and by 2023, numerous insurance products had been developed. The pet insurance market has been expanding steadily. However, as of 2022, only 0.8% of all pet owners have subscribed to pet insurance. Pet owners hesitate to enroll in pet insurance due to expensive premiums, unclear coverage details, and strict enrollment criteria. This paper proposes a model capable of detecting pet eye diseases and predicting their health age. Initially, EfficientNet is employed to identify the pet's eye disease, while OpenCV is utilized to locate and measure the size of the disease, enabling the calculation of the pet's healthy age. By leveraging the calculated health age, the aim is to aid insurance companies in determining pet insurance premiums. This model can facilitate the calculation of reasonable pet insurance rates based on the pet's eye condition and health age. Ultimately, the objective is to implement a system capable of detecting pet eye conditions and predicting their health age.