• KDI Journal of Economic Policy
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• v.39 no.4
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• pp.51-68
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• 2017

This paper adapts the World Bank Regulatory Quality Index (RQI), which is produced annually to provide a better understanding of the effects of regulatory reforms, instead of the Production Market Regulation (PMR) indicators, which are published every five years. We find that 9.9 to 36.0 billion USD worth of regulatory cost could be reduced if the regulatory quality in Korea improves to the level of the OECD average considering that the total burden of regulation in Korea is estimated to range from 2.2 to 357.4 billion USD. The estimated reduction in the regulatory cost accounts for roughly 0.76 to 2.47% of Korea's GDP in 2013, underscoring the importance of regulatory reforms for the Korean economy. This paper introduces a new method with which to examine the distribution of regulatory costs across different industries and firm sizes. This alternative method is largely consistent with the conclusions reached by other studies, specifically that small firms typically bear a disproportionate regulatory burden.

• East Asian Economic Review
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• v.17 no.1
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• pp.27-53
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• 2013

In this paper, we look at the relationship between international trade and the rule of law, using the World Justice Project Rule of Law Index, which include index figures on human rights, limits on government powers, transparency and regulatory efficiency. Based on regression analyses using the rule of law index figures and international trade figures (merchandise trade, service trade, exports and imports as percentage of GDP,) international trade and basic human rights seem to have little relationship; but trade has a close positive relationship with strong order and security. Somewhat surprisingly, regulatory transparency and effective implementation seems to have little or no effect on international trade and vice versa. International trade shows a clear positive relationship with the country's criminal justice system, but the relationship with the civil justice system is not as clear as such. For regulatory implementation and civil justice, services trade positively affect these institutions, but these institutions in turn affect exports more strongly than services trade. Finally, the effect of trade on rule of law is stronger on a medium to long term (10-20 year) time horizon.

• KDI Journal of Economic Policy
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• v.45 no.1
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• pp.69-86
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• 2023

Regulatory sentiment refers to the market's subjective evaluation of regulatory reform and is one of the most widely adopted indicators to those charged with implementing and diagnosing regulatory policies. The use of regulatory sentiment in advanced analysis has become universal, albeit it is often limited due to difficulties in articulating consistent and objective quantitative indicators that can meticulously reflect market sentiment overall. Thus, despite ample effort by scholars to read the economic impact of regulatory sentiment in the real economy, causal links are difficult to spot. To fill this gap in the literature, this study analyzes a regulatory sentiment index and economic performance indicators through a text analysis approach and by inspecting diverse tones in media articles. Using different stages of tests, the paper identifies a causal relationship between regulatory sentiment and actual economic activities as measured by private consumption, facility investment, construction investment, gross domestic investment, and employment. Additionally, as a result of analyzing one-unit impulse of regulatory perception, the initial impact on economic growth and private investment was found to be negligible; this was followed by a positive (+) response, after which it converged to zero. Construction investment showed a positive (+) response initially, which then rapidly changed to a negative (-) response and then converged to zero. Gross domestic investment as the initial effect was negligible after showing a positive (+) reaction. Unfortunately, the facility investment outcome was found to be insignificant in the impulse response test. Nevertheless, it can be concluded that it is necessary and important to increase the sensitivity to regulations to promote the economic effectiveness of regulatory reforms. Thus, instead of dealing with policies with the vague goal of merely improving regulatory sentiment, using regulatory sentiment as an indicator of major policies could be an effective approach.

• Journal of Korean Society of Transportation
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• v.35 no.3
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• pp.169-182
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• 2017

This research reviews regulations on logistics/transport industry and attempts to quantify the effects of regulation mitigation on GDP per capita. South Korea's transport industry has been gradually expanding, however, the industrial structure is still short rooted. In 2014, average number of hours worked is 5th highest and wage margin 12th smallest out of 18 industries. Furthermore, the regulations for this industry appear to be stricter than those of other industries. OECD's logistics/transport industry regulatory index for South Korea has been decreasing for the last 40 years but still exceeds those of EU, Japan, US, and other countries. This paper provides supporting reasons for regulatory reforms by analyzing the ripple effects on real GDP. Factors such as the ratio of trade among GDP, the enrollment rate to primary school, energy usage per capita, and population are controlled in the fixed-effect model. Estimation results showed that 1 unit decrease in transport/logistics regulatory index is correlated with 8.1% increase of the real GDP per capita, that is, 10% of deregulation is expected to yield 2.16% increase in GDP per capita. Thus, it is expected that mitigating regulations on market entries, price determination, ownership structures of network industry, vertical integrations can improve the economy of South Korea.

• The KIPS Transactions:PartB
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• v.19B no.4
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• pp.231-236
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• 2012

According to consumer behavior theory, human propensity can be divided into two regulatory focus types: promotion and prevention. These two types have much influence on the consumer's decision in many diverse areas. In this research, we apply regulatory focus theory to personalized recommendation to minimize the cold start problem and to improve the performance of recommendation algorithms. To achieve this goal, we extract the consumer behavior variables and information exploration activity index from web shopping logs. We then use them for classifying regulatory focus of the consumer. This research has the contribution to show the possibility of systematization of consumer behavior theory as an interdisciplinary research tool of social science and information technology. Based on this attempt, we will extend the research to IT services adapting theories on other areas.

• Journal of the Korean Society of Food Science and Nutrition
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• v.33 no.2
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• pp.447-450
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• 2004

Overall migration through epoxy layer coated wood was investigated to estimate the coating thickness satisfying the regulatory limit. As an index of overall migration, KMnO$_4$ oxidizable extractives by the food simulant water solution was used. Migration pattern in interest range could described by a simple diffusion model and the temperature dependence of the permeability index could be explained by Arrhenius equation. The thickness of epoxy coating greater than 0.004 mm was analyzed to be required for satisfying the regulatory guideline.

• Proceedings of the Korea Society of Environmental Toocicology Conference
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• 2006.05a
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• pp.81-82
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• 2006

• Nuclear Engineering and Technology
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• v.47 no.3
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• pp.362-379
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• 2015

In this study, Nuclear Power Plant (NPP) construction schedule delay risk assessment methodology is developed and the construction delay risk is assessed for turnkey international NPP projects. Three levels of delay factors were selected through literature review and discussions with nuclear industry experts. A questionnaire survey was conducted on the basis of an analytic hierarchy process (AHP) and Relative Importance Index (RII) methods and the schedule delay risk is assessed qualitatively and quantitatively by severity and frequency of occurrence of delay factors. This study assigns four main delay factors to the first level: main contractor, utility, regulatory authority, and financial and country factor. The second and the third levels are designed with 12 sub-factors and 32 sub-sub-factors, respectively. This study finds the top five most important sub-sub-factors, which are as follows: policy changes, political instability and public intervention; uncompromising regulatory criteria and licensing documents conflicting with existing regulations; robust design document review procedures; redesign due to errors in design and design changes; and worldwide shortage of qualified and experienced nuclear specific equipment manufacturers. The proposed combined AHP-RII methodology is capable of assessing delay risk effectively and efficiently. Decision makers can apply risk informed decision making to avoid unexpected construction delays of NPPs.

• Food Science of Animal Resources
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• v.43 no.6
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• pp.1002-1016
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• 2023

This study aimed to develop appropriate temperature management practices and provide scientific evidence to support the development of sell-by-date guidance for eggs. Washed and unwashed eggs were subjected to storage under six different scenarios, and both types of eggs were stored at temperatures up to 35℃ to evaluate the sell-by-date. Despite temperature fluctuations or continuous storage at 30℃ for 5 days, subsequent storage at 10℃ resulted in significantly higher Haugh unit and yolk index on day 15. These results indicate that refrigerating eggs from retail sales until consumption is effective for egg quality management, despite the exposure of up to 35℃ during distribution. In terms of sell-by-date evaluation, washed eggs retained class B quality for an additional 37 days beyond the recommended sell-by-date at 15℃, which is above the regulated storage temperature. However, unwashed eggs maintained class B quality for approximately 20 days at 30℃-35℃, emphasizing the need for sell-by-date guidelines for unwashed eggs. This study is the first to provide appropriate egg-handling practices based on the actual distribution environment in Korea.

• Nuclear Engineering and Technology
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• v.43 no.2
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• pp.105-132
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• 2011

The concept of improved performance indicators (PIs) for use in the KINS Safety Performance Indicator (SPI) program for reactor safety area is proposed in this paper. To achieve this, the recently developed PIs from the USNRC that use risk information were investigated, and a feasibility study for the application of these PIs in Korean NPPs was performed. The investigated PIs are Baseline Risk Index for Initiating Events (BRIIE), Unplanned Scrams with Complications (USwC), and Mitigating System Performance Index (MSPI). Moreover, the thresholds of the existing safety performance indicators of KINS were evaluated in consideration of the risk and regulatory response to different levels of licensee performance in the graded inspection program.