• East Asian Economic Review
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• v.23 no.3
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• pp.285-309
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• 2019

Unlike the popular belief, digital transformation mainly gets stymied by legal and regulatory issues related with legacy institutions in Asia rather than technical difficulties. The real challenges triggered by the PSD2 (Payment Services Directive 2) are how the region would overcome the overly fragmented, centralized, and hierarchical legacy framework to allow necessary changes to respond to the digital single market initiatives as promulgated by the European counterpart. The PSD2 is expected to bring about substantial changes in the payment ecosystem by allowing payment service providers to access customers' accounts and transactions information via API that have been traditionally controlled by banks. This paper suggests an incentive-compatible mechanism design for open collaboration among legacy institutions in the region to help them adapt to the PSD2. As evidenced by case studies in Korea, the Asian equivalent of PSD2 can be implemented and further expanded to create region-wide PCS (payment-clearing-settlement) network by reconnecting the dots of legacy infrastructures. These decentralized, diverse, small payment networks can be further combined with the expanded RTGS-CDS platform to evolve into the next phase of Asian Financial Network.

• International conference on construction engineering and project management
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• 2020.12a
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• pp.493-502
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• 2020

Traditionally, road projects are initiated based on an assessment of their economic benefit, after which the environmental, social and governance effects are addressed discretely for the project according to a set of predetermined alternatives. Sustainable road infrastructure planning is vital as issues like diminishing access to road construction supplies, water scarcity, Greenhouse Gas emissions, road-related fatalities and congestion pricing etc., have imposed severe economic, social, and environmental damages to the society. In the process of addressing these sustainability factors in the operational phase of the project, the dynamics of these factors are generally ignored. This paper argues that effective delivery of sustainable roads should consider such dynamics and highlights how different aspects of sustainability have the potential to affect project sustainability. The paper initially presents the different sustainability-assessment tools that have been developed to determine the sustainability performance of road projects and discuss the inability of these tools to model the interrelationships among sustainability-related factors. The paper then argues the need for a new assessment framework that facilitates modelling these dynamics at the macro-level (system level) and helping policymakers for sustainable infrastructure planning through evaluating regulatory policies.

• Journal of Digital Convergence
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• v.18 no.4
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• pp.325-340
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• 2020

Today's rapidly developing health technology is accumulating vast amounts of data through medical devices based on the Internet of Things in addition to data generated in hospitals. The collected data is a raw material that can create a variety of values, but our society lacks legal and institutional mechanisms to support medical Big Data. Therefore, in this study, we looked at four major factors that hinder the use of medical Big Data to find ways to enhance use of the Big Data based healthcare industry, and also derived implications for expanding domestic medical Big Data by identifying foreign policies and technological trends. As a result of the study, it was concluded that it is necessary to improve the regulatory system that satisfies the security and usability of healthcare Big Data as well as establish Big Data governance. For this, it is proposed to refer to the Big Data De-identification Guidelines adopted by the United States and the United Kingdom to reorganize the regulatory system. In the future, it is expected that it will be necessary to have a study that has measures of the conclusions and implications of this study and to supplement the institutional needs to play a positive role in the use of medical Big Data.

• Journal of Korean Society of Archives and Records Management
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• v.21 no.1
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• pp.19-40
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• 2021

This study aims to explore alternative strategies for the archival professional training system in response to changing records management environments. It found implications in the training and qualification system for overseas archival professionals and compared and analyzed the qualification system for Korean archival professionals. In addition, by analyzing the archival graduate schools' general status and the instructors' research performance, the study confirmed that many instructors have low academic interest in archival studies and the gap between schools was significant. Based on this, interviews with professors and experts were conducted to gather opinions on improving the archival professional training system. In conclusion, the study presents prerequisite tasks of organizing an archival community governance system and securing self-regulatory power. Moreover, it proposes innovative measures for the archival professional training system with three major tasks: creating graduate education guidelines, establishing a continuing and deepening education system, and transforming educational institutions.

• The Journal of the Convergence on Culture Technology
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• v.9 no.5
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• pp.721-727
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• 2023

To prevent corruption, waste, and abuse in national governance, audit agencies are established and granted significant authority and responsibilities, including ensuring their independence. However, questions have been raised about who oversees these agencies and addresses issues or misconduct that may arise within them. In the United States, to address this oversight concern, the Inspector General Act was enacted, creating an audit community called the Inspector General Community. This community comprises various audit agencies and promotes compliance with standards and investigates potential wrongdoing by audit personnel. It fosters a culture of independence and collaboration among diverse stakeholders, such as Congress, the President, the Government Accountability Office, and agency leadership. In light of this successful approach in the United States, this research seeks to study and apply similar oversight mechanisms to audit agencies in South Korea. There is a need to develop the relationship between oversight bodies and parliament in terms of improving the efficiency and effectiveness of government operations. Accordingly, this paper studies this American case and presents efficient policy measures for the supervisory system to be applied to Korea's audit organizations. It aims to identify policy insights for effective supervision, ensuring independence, and fostering a collaborative culture within our audit institutions. Therefore, domestic interest and research on this matter are essential to enhance our audit mechanisms and achieve efficient governance.

• KDI Journal of Economic Policy
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• v.32 no.4
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• pp.153-195
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• 2010

The recent global financial crisis has been the outcome of, among other things, the mismatch between institutions and the reality of the market in the current global financial system. The International financial institutions (IFIs) that were designed more than 60 years ago can no longer effectively meet the challenges posed by the current global economy. While the global financial market has become integrated like a single market, there is no international lender of last resort or global regulatory body. There also has been a rapid shift in the weight of economic power. The share of the Group of 7 (G7) countries in global gross domestic product (GDP) fell and the share of emerging market economies increased rapidly. Therefore, the tasks facing us today are: (i) to reform the IFIs -mandate, resources, management, and governance structure; (ii) to reform the system such as the international monetary system (IMS), and regulatory framework of the global financial system; and (iii) to reform global economic governance. The main focus of this paper will be the IMS reform and the role of the Group of Twenty (G20) summit meetings. The current IMS problems can be summarized as follows. First, the demand for foreign reserve accumulation has been increasing despite the movement from fixed exchange rate regimes to floating rate regimes some 40 years ago. Second, this increasing demand for foreign reserves has been concentrated in US dollar assets, especially public securities. Third, as the IMS relies too heavily on the supply of currency issued by a center country (the US), it gives an exorbitant privilege to this country, which can issue Treasury bills at the lowest possible interest rate in the international capital market. Fourth, as a related problem, the global financial system depends too heavily on the center country's ability to maintain the stability of the value of its currency and strength of its own financial system. Fifth, international capital flows have been distorted in the current IMS, from EMEs and developing countries where the productivity of capital investment is higher, to advanced economies, especially the US, where the return to capital investment is lower. Given these problems, there have been various proposals to reform the current IMS. They can be grouped into two: demand-side and supply-side reform. The key in the former is how to reduce the widespread strong demand for foreign reserve holdings among EMEs. There have been several proposals to reduce the self-insurance motivation. They include third-party insurance and the expansion of the opportunity to borrow from a global and regional reserve pool, or access to global lender of last resort (or something similar). However, the first option would be too costly. That leads us to the second option - building a stronger globalfinancial safety net. Discussions on supply-side reform of the IMS focus on how to diversify the supply of international reserve currency. The proposals include moving to a multiple currency system; increased allocation and wider use of special drawing rights (SDR); and creating a new global reserve currency. A key question is whether diversification should be encouraged among suitable existing currencies, or if it should be sought more with global reserve assets, acting as a complement or even substitute to existing ones. Each proposal has its pros and cons; they also face trade-offs between desirability and political feasibility. The transition would require close collaboration among the major players. This should include efforts at the least to strengthen policy coordination and collaboration among the major economies, and to reform the IMF to make it a more effective institution for bilateral and multilateral surveillance and as an international lender of last resort. The success on both fronts depends heavily on global economic governance reform and the role of the G20. The challenge is how to make the G20 effective. Without institutional innovations within the G20, there is a high risk that its summits will follow the path of previous summit meetings, such as G7/G8.

• Korean journal of communication and information
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• v.81
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• pp.189-224
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• 2017

The case of 'Paik Jong-moon's Taped Conversation,' has presented "an important and serious challenge to the freedom of the press and democracy" in South Korea. Nevertheless, this case has not been reported by the mainstream news media. It has also been forgotten without a proper fact-finding or investigation by regulatory agencies, like The Foundation for Broadcast Culture, The Korea Communications Commission, or The National Assembly. This study aims to examine why the above has happened through in-depth interviews of reporters and TV producers, senior journalists, former and incumbent commissioners of the broadcasting regulatory agencies, and experts of the industry, as well as literature research. Here, I present three answers. First, I found two reasons the mainstream press has ignored this incident. 1) It serves for political interests instead of reporting truth. 2) Public broadcasters' watchdog role has been neutralized. Second, regulatory agencies like The Foundation for Broadcast Culture, The Korea Communications Commission and The National Assembly are ruled by political tribalism. The ruling party's members of the National Assembly and these agencies were reluctant to investigate allegations surrounding Paik Jong-moon, such as illegal dismissals, illegal intervention in programming or production, illegal recruitment and illegal business deals. That's because they considered CEO Paik an ally. Using their majority power, they have rejected the request from opposition-affiliated commissioners or from opposition lawmakers to investigate the allegations. Third, there were no alternative forces within the public broadcasters to unveil the truth. In conclusion, the legal and institutional shake-up of corporate governance is urgently needed for public broadcasters and broadcasting regulatory agencies.

• International Journal of Computer Science & Network Security
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• v.22 no.10
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• pp.57-66
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• 2022

The aim of the article is to investigate socio-political processes in Ukraine on the basis of institutional and behavioral approaches, in particular their regulatory and informational support. Methodology. To determine the nature and content of sociopolitical processes, the following approaches have been used: 1. Institutional approach in order to analyze the development of Ukraine's political institutions. 2. The behavioral approach has been used for the analysis of socio-political processes in Ukraine in the context of political behavior of citizens, their political activity which forms the political culture of the country. Results. The general features of the socio-political situation in Ukraine are as follows: the formed model of government, which can be conditionally described as "presidential"; public demand for new leaders remains at a high level; the society has no common vision of further development; significant tendency of reduction of real incomes of a significant part of the society and strengthening of fiscal pressure on businessmen will get a public response after some time. Increasing levels of voice, accountability, efficiency of governance and the quality of the regulatory environment indicate a slow change in the political system, which will have a positive impact on public sentiment in the future. At the same time, there has been little change in the quality of Ukraine's institutions to ensure political stability, the rule of law and control of corruption. There are no cardinal changes in the development of the institution of property rights, protection of intellectual rights, changes in the sphere of ethics and control of corruption. Thus, Ukraine's political institutions have not been able to bring about any change in the social-political processes. Accordingly, an average level of trust and confidence of citizens in political institutions and negative public sentiment regarding their perception and future change can be traced in Ukraine.

• Korean journal of communication and information
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• v.30
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• pp.121-141
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• 2005

Most of the convergence studies argue the reform of the current policy regime of broadcasting and telecommunications in Korea from two perspectives: 1) the media governance perspective and 2) the media industry perspective. The former emphasizes the need of integrity, consistency and efficiency of the regime in the convergence environment, while the latter focuses upon the growth and development of the media industry making the best of economic and industrial opportunities that are spawned by digital convergence. Although their arguments are logical and robust, they are lopsided in terms of legalism and myopic economism due to the linear perception of institutionalism, Bureaucratic administrative practices as well as ostentatious IT policies that have chronically plagued the policy regime in Korea cannot be resolved by simply assimilating distinct regulatory bodies and laws. Unless these two issues are properly addressed, the convergence of media policy institutions would end up a half-success or half-failure contrary to the exportations of existing studies.

• Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology
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• v.7 no.5
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• pp.861-871
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• 2017

There is a Korean proverb that learns old things and learns new things from it. This study analyzes the change of the policy governance system in the field of information and communication since 2008 and outlines the future directions. The launch of the Korea Communications Commission (KCC), which combines the Ministry of Information and Communication and the Korea Broadcasting Commission in 2008, and the separation of the Korea Communications Commission and Ministry of Science, ICT and Future Planning in 2013, were systematic responses to the policy environment. Recent changes in the ICT environment, such as the advent of the fourth industrial revolution and the intelligence information society, call for an organizational timely response. In the future, it will be very important to set the scope of ICT policy, the establishment of a dedicated organization, the strengthening of the regulatory system, and the role of the government and the market.