• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.69
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• pp.427-451
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• 2016

With WTO system starting since 1995, the international trade business has been getting more competitive and fairer especially with the agreement on subsidies and countervailing measures. The export credit insurance, as the only institution of supporting export business under WTO system, is getting more significant in major economies as an indirect means to support export business. In China, SINOSURE has been monopolizing its export credit insurance market for a long time. Since January 2013, however, the Chinese government permitted several commercial insurers to compete in the market and they include PICC, PING AN, CPIC, China Re. This study is to discuss how to improve the Chinese export credit insurance after analyzing performance of privatization of short-term credit insurance and real cases of success and failures. With the 'Go Global' and 'One Belt, One Road' policy of Chinese government, the role of export credit insurance is expected to be more significant. Thanks to the Korea-China FTA since December 2015, international trade between the two countries will be greater especially in finance and insurance area. Because Korean insurance industry is very much interested in getting into Chinese export credit insurance market, they need to study carefully the performance of privatization of Chinese short-term export credit insurance. For their policy decision makings the Korean authorities need to get lessons from the privatization of Chinese short-term export credit insurance business.

• Journal of the Korean Society for Railway
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• v.9 no.2 s.33
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• pp.212-221
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• 2006

This paper examines the outcomes and tasks of U rail privatization especially focusing on the rail safety. Earlier research which focused on the rail safety had little knowledge of the explanations for recent changes of safety scheme. Moreover, they had difficulty making a direct comparison of safety between national rail and the privatized rail. Therefore we are left without a good explanation which has a comprehensive perspective. I attempt to show the outcomes of safety in the rail privatization process and its tasks focusing on the recent fatal accident. This paper argues that the UK's rail safety has a framework which is too complicated with overlapping responsibilities that brought about inefficiency, increasing costs. Especially infrastructure enterprise did not come to play an appropriate role. However, after 2000, the government took charge of setting the strategy for railway safety, and the Office of Rail Regulation covered safety, performance and cost. I explain that these changes present a good opportunity to solve the problem of passing the buck for rail accident. Through the analysis, I find that outcomes of rail privatization in safety are improved comparing the national rail. However, safety performance, for example the collision of structures of cars and looseness of rail should be improved. In future, the problems of fatal accident and a bit of duplicate safe system should be addressed.

• The Journal of Aerospace Industry
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• s.49
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• pp.3-40
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• 1999

In this paper, the types of airport operation are categorized four groups in context of ownership and operational management; full government ownership and operation; government ownership with privatization of selected service; government ownership and private management; private ownership and operation. The term,"Privatization" has a different definition when it is used in different contexts and cultures. In this paper, the definition of"Privatization" in the context of airport, is that the movement of an entity from the government sector to the private sector. To keep pace with the remarkable growth in the air traffic volume of passengers and cargo, more and more mega-international airports have been built or are under construction. As the air transport demand is expected to increase at an even greater rate in the 21st century, the need for new conception airport is merging to solve the current problems such as airport congestions and flight delays which will be essential factors to decide whether the competitive airports or not. Presently, we researched the type of the operational management to strengthen the competitiveness for Korea's airports. Specifically, It is focused on the government ownership with privatization of selected services. It seems to be evaluated as government ownership and private management when it is actively utilized within Korea Airport Authority's law or Inchon International Airport's public corporation law. To make more competitive airport in 21st Century, however, it is desirable to seek for the method to gradually evaluate to private ownership and operation.

• Water Engineering Research
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• v.1 no.1
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• pp.1-10
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• 2000

Water quality in becoming a serious issue in South Korea, so that modernization of drinking water and sewer plants is sought after. "Contracting out"to the private sector from the local government bureaucracy is the order of the day. This paper introduces the semi-privatized water resources management systems in the washington metropolitan area for South Korea's further privatization efforts.n efforts.

• 한국디지털정책학회:학술대회논문집
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• 2004.11a
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• pp.25-37
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• 2004

This paper compares long-run buy-and-hold returns of privatization initial public offerings to those of domestic stock markets of respective countries using a sample of 29 privatized telecom initial public offerings from 27 countries. The evidence indicates that the privatization IPOs significantly outperform their domestic stock markets if the returns are equally-weighted while they do not outperform the markets if value-weighted. In addition, this paper analyzes the cross-sectional determinants of long-run buy-and- hold returns of privatized telecom shares. The results indicate that the long-run performance of privatized telecom IPOs is moderately related to the proxies of policy uncertainty or systematic risk while the size of the firm and some market wide variables such as the accounting standard, origin of commercial law, and the corporate governance scheme significantly affect the stock performance of privatized telecom shares.

• The Journal of Sustainable Design and Educational Environment Research
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• v.6 no.1
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• pp.25-48
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• 2007

Korean government implemented the Build-Transfer-Lease (BTL) mechanism since 2005 as one of the privatization methods to procure the social infrastructure with private investment. The mechanism was originally prepared 10 provide such public properties as education facilities, child-care facilities, old generation recuperation facilities, medical welfare facilities, military personnel's apartments, environment facilities, and lease apartments. Since 2005, a total of 13.5 trillion won-valued private fund has been directed to the public educational facilities, which occupies 58% of the total private investment in the facilities of the seven categories. However, many officials in the local public entities have anticipated that the local entities need to be restructured or downsized because of the privatization in stead of providing the educational facilities by governmental finance. The main objective of this study is to identify the appropriate technocrat organization structures to manage the privatization procedures.

• Journal of Digital Convergence
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• v.9 no.6
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• pp.39-55
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• 2011

Since telecommunications reforms began around world in the 1980s, many scholars have attempted to uncover its effects on the telecommunications sector. Nevertheless, research focusing largely on the impact of privatization on universal service has been relatively less frequent than other research on telecommunications reform such as the effect of competition on efficiency, investment, and universal service, and the impact of privatization on efficiency. From this perspective, this study attempted to explain the impact of the privatization of a state-owned telecommunications enterprise on universal service in Korea. This work may contribute to providing policy-makers and scholars in telecommunications with some useful policy suggestions by concretely illustrating how the privatization of Korea Telecom has influenced universal service policy formulation and the universal service system in Korea.

• Journal of Korea Technology Innovation Society
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• v.19 no.3
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• pp.439-464
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• 2016

The technical regulation and conformity assessment procedure of our country on ICT equipments is currently required to have more innovation due to the request of main trade countries, the second phase conclusion of MRA, necessity of expansion of conformity assessment service market and demand of manufacturers. The world's leading advanced countries have already proceeded with innovation based on privatization plan. According to the comparative analysis of the level, it turned out that Japan obtained the highest level of privatization while South Korea ranked the lowest level. According to the research result of examination and certification ability of private institutions of our country, it turned out that our country is expected to have possibility of achieving higher level of privatization than that of the present. Moreover, according to the questionnaire survey conducted to the persons concerned regarding privatization direction, they gave positive response to all the indicated survey contents of privatization direction in terms of "delegation of certification services to private sectors (contracting-out)", "transformation of EMC into private voluntary standard" and "changeover of conformity assessment agent". However, from the view of acceptance and conflict model, it is estimated that starting from "delegation of certification services to private sectors (contracting-out)" seems to be the most advisable plan. Also, prior to privatization, it is required to improve relevant systems such as certification examiner system.

• Korean Security Journal
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• no.15
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• pp.265-283
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• 2008

Modern society often faces 3Cs：change, competition, and customer. The main issue of today's police science study, therefore, circles around how public police effectively cope with the radically changed environment. As one of the workable and appealing policy tools to reform the police, the privatization has been not only strongly supported in terms of a theoretical study, but also widely used in practice all over the world. However, Policing has been widely regarded as an exclusively public-sector activity conducted by sworn officer, but a large and increasing share of the aggregate demand for public safety and security is being handled by the private sector. This study examines on the very practical one, how contracting out, most widely used as the privatization alternatives, is perceived and put into practiced in the field of traffic police services. This study is intended to examine recent shifts toward privatization of traffic policing. Although some people regard police services as inappropriate for privatization, most everyone else have persuasively considered that many police services are not public goods or, at least, not pure public goods. We can consider that there are three types of privatization with respect to traffic policing, that is, user-financed police services, contracting out, and some degree of service shedding. As society changes, so must traffic policing. And it is needed to enhance the ability of traffic police and private to accomplish their primary mission, to serve and protect the public.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.5
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• pp.225-236
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• 2020

This paper examines empirically the net impact of residual state ownership on privatized firm efficiency in the transitional context of Vietnam. Vietnamese privatization has its own characteristics. Instead of mass and full privatization, Vietnam has chosen a partial and gradual path. Thus, it is important to assess the net impact of residual state ownership on privatized firms during the post-privatization period. This study employs stochastic frontier analysis to investigate the association between residual state ownership and the efficiency of privatized firms, using a sample of all privatized firms that are listed on the Vietnamese stock exchanges over the period from 2007 to 2017. Also, two-stage least squares regression is incorporated into the model to deal with potential endogeneity issues. Our study provides evidence that state ownership should not be considered as a pure source of agency problems. Indeed, the net impact of residual state ownership on privatized firm efficiency is non-monotonic, and the relationship between residual state ownership and privatized firm efficiency is under an inverted U-shape. A moderate level (less than 50%) of residual state ownership might be beneficial to privatized firm efficiency whereas too much state ownership is detrimental to the efficiency of privatized firms.