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2010, Vol.17, No.1

  • 1.

    The Change of the mainbank system and corporate governance in Japan

    강철구 | 2010, 17(1) | pp.1~17 | number of Cited : 3
    Abstract PDF
    The purpose of this article is the Japanese mainbank system concerned with the Japanese corporate governance, which is to analyze the changed academic view observed from before and after the bubble economy. And also to analyze the significance and limits on the role of the mainbank of its underinvestment and overinvestment, during the rapid growth of Japan. For this there was an analysis on the pre-research of the general concept of what the mainbank is and the effects of it on the Japanese economy. The existence of the mainbank’s solution to the underinvestment problem was available because studies show that Japan’s economy was growing at a steady rate up to the mid 1990s. However in the late 1990s the expansion of the economic stagnation made the ability of the mainbank’s corporate governance to decrease and become doubtful of its effectiveness. Furthermore, there became a rise that the system was a downfall- making companies overinvest. Therefore, to explain the relationship between Japanese companies and the mainbank from the 1980s to the year 2000, financial statements were used to analyze all the industries and the manufacturing industries. In result, one can see that the relationship between the major companies and the mainbank weakened; however, it is noticeable that there was a restraint on underinvestment before that.
  • 2.

    A Study on the Past Affairs between Poland-Ukraina: The Massacres of Poles in Volhynia

    Yongdeog Kim | 2010, 17(1) | pp.19~37 | number of Cited : 2
    Abstract PDF
    The Massacres of Poles in Volhynia were part of an ethnic cleansing operation in Volhynia(now in western Ukraine) and Eastern Galicia, that took place beginning in 1939 and lasted until the end of 1946. The actions, orchestrated and conducted in most part by the Ukrainian Insurgent Army(UPA) together with other Ukrainian groups and local Ukrainian peasants, resulted in over 1,200,000 Polish civilians being brutally murdered in Volhynia Voivodeship with another voivodeships affected, specially in Eastern Galicia. The peak of the massacres took place in July and August 1943, when a UPA commander ordered the extermination of the entire Polish population between 16 and 60 years of age. The slaughter was directly linked with the policies of the Bandera faction of the Organization of Ukrainian Nationalists(OUN), whose goal, specified at the Second Conference of the OUN-B, was to purge all non-Ukrainians from the future Ukrainian state. The number of casualties is being actively researched and continues to be the subject of scholarly as well as political deliberation. The question of official acknowledgment of the ethnic cleansing remains a matter of a discussion between Polish and Ukrainian historians and political leaders. Efforts are ongoing to bring about reconciliation between Poles and Ukrainians regarding these tragic events.
  • 3.

    Characteristics of Korean Love Tragedies by Studying Geumoh-sinhwa -based on the differences between the Oriental and the Western reasons-

    Kim, Chang-Hyun | 2010, 17(1) | pp.39~54 | number of Cited : 7
    Abstract PDF
    Manboksa-jeopo-gi(萬福寺樗蒲記) and Yiseng-guijang-jeon(李生窺墻傳), which are two tragedies of Geumoh-sinhwa(金鰲新話), provide the tragic points of view with lessons in the soft, slow and lyrical way, regardless of the Buddhist colors. Such a style represents the esthetic characteristic which is quite different from that of the Western tragedy which makes people realize their own egos through the intense ends. It starts from the difference between the Oriental point of view, which values the universal world containing the existence of God fundamentally identical as the ego of humans, and the Western point of view which considers humans as those suffering from their own destiny before God. Because of this, the man of strong will, who wants to become dignified before God and himself by accepting his destiny and protecting his internal nobility, is in the center of tragedies in the Western world. This is the compromise between the destiny affection and the tragic resistant spirit. Oedipus overcame his destiny and protected his legitimacy through the oracle that the country where his tomb was located would flourish. On the other hand, the ‘relationship’ between humans or humans and the universe is in the center of tragedies in Korea. Because of this, there are many love tragedies. The affection or fidelity among individuals sometimes even puts off the universal order. In other words, it is possible for the character in the novel to keep living with his deceased lover as if she were alive. It reflects the possibility that one’s earnest wish can be communicated with the universal power. However, there is a limit for putting off the universal order. It is inevitable for individuals to have ontological limits in the vast universe. Therefore, tragedies become possible. The ‘Destiny Affection’ which is shown in the Korean tragedies reflects the fact that the universe and humans share a fundamental identity. However, such a fact does not establish tragedies by itself. The resistant spirit of the Korean affection-oriented tragedies shows that lovers do not give up their affection for each other until they die. While Manboksa-jeopo-gi plans the Buddhist conquest, it shows a solitary conclusion that the character in the novel does not get married and disappears in the end. Such a conclusion provides the readers with a long lingering image as well as fundamental questions about life and love. The concluding method of Yiseng-guijang-jeon represents the characteristic of the Korean tragedies well. Lee Saeng who cannot take the reality of his wife's death and dies at the end provides an extremely strong image. This is closely related with the tendency of the author who highly valued fidelity as one of the six loyal courtiers. It can be said that the author's loyalty towards the deceased king is contained in this novel. As a result, the cause of the powerfulness can be found from the sorrowful indignation. It is possible to emphasize the tragedy of the sorrowful indignation by combining fidelity with affection. There are so many tales about men and women dying of lovesickness. Looking at the resentment related with love and the earnest love of the lumberjack who never forgets his love after becoming a rooster, we can find the complete model for Korean tragedies in this novel.
  • 4.

    China's Transitional Financial System:Evidence from the Growing Role ofFinancial Markets

    YOONIlHyun | 2010, 17(1) | pp.55~68 | number of Cited : 2
    Abstract PDF
    This paper examines China's financial system which has been greatly transformed over the past three decades which saw sustained fast growth of economy. The financial system in China specifically showed gradual and cautious changes to avoid adverse impacts on its fast-growing economy. China's financial system, which the government traditionally used as a tool for implementation of the centrally planned economy under the regime of the socialism, has been moving towards that of a capitalist economy while China has been confronted with financial difficulties such as non-performing loans for banks and corporate governance for firms. Financial institutions and financial markets, two key poles in a national financial system, are discussed in detail. Although corporate funds have been heavily financed by indirect financing through bank loans, financial markets is playing an increasingly important role in the fund procurement in the corporate sector.
  • 5.

    Towards China-Japan-Korea Economic Cooperation in Northeast Asia - Lessons from the Franco-German Coalition in Europe -

    정상희 | 이종원 | HWANG KI-SIK | 2010, 17(1) | pp.69~84 | number of Cited : 1
    Abstract PDF
    This paper seeks to draw some useful implications from the European integration case for the regional cooperation in Northeast Asia. Authors believe that establishing close relationship between two key major players (i.e. French-German coalition) has been one of the most important factors in the successful EU integration process, and suggest to make similar coalition among East Asian key countries, such as between Japan-Korea and China-Japan. In conclusion, it suggests that coalition between two key players would take a leading role in terms of creating a chance for Northeast Asian economic community including Northeast regional FTA.
  • 6.

    The Rise and Fall of Universal Social Programs The Case of Canadian Family Allowance

    Cho Young Hoon | 2010, 17(1) | pp.85~102 | number of Cited : 1
    Abstract PDF
    Family allowance was instituted during the Second World War in Canada, which did not have a contributory old-age pension, health insurance and public aids at the federal level until the 1960s. Therefore, it is very natural to ask why such an advanced welfare program as family allowance was introduced in the welfare laggard like 1940s' Canada. This research aims to seek for the social background, which was directly related to the making of the universal social program in Canada. This article attempts to present the most persuasive explanation after examining several possible factors, which include the class mobilization of social democratic party, the reformist character of the ruling party, the radicalization of the working class, and the political crisis of the ruling party. This research selects the last one as the most appropriate, because the other factors were either unapplicable to the Canadian society or unsuitable to the explanation for the introduction of the universal social program, which provides benefits to all citizens, not to a particular social group or class. The Canadian family allowance continued to be cut back after its inauguration and was abolished in the 1990s. The secondary aim of this article is to explain why the family allowance, which was supported by almost all the social groups and political parties when introduced, went through such a process. This research focuses on the fact that the political interests to maintain the generous family allowance were reduced as the political crisis harassing the ruling Liberal Party disappeared during the 1950's economic growth and social stabilization.
  • 7.

    Pitting One Minority Against Another:Black Korean Conflict during the 1992 L.A. Riots

    주정숙 | 2010, 17(1) | pp.103~113 | number of Cited : 2
    Abstract PDF
    This paper aims to review the black‐Korean conflict during the 1992 L.A. riots as an instance to examine how conventional and new elements of the racial relations in the U.S were intertwined and how this worked to reinforce the existing racial order. The 1992 L.A. riots were triggered by the brutal police beating of Rodney King in 1991 and the ensuing acquittal of the perpetrators. This demonstrated the persistence of violent racial bigotry and the moral bankruptcy of the contemporary U.S. Despite this continuity, the 1992 riots also highlighted new developments in the U.S. racial and ethnic relations, as Korean Americans were specifically targeted for ventilating the anger and frustration of the rioters in regard to entrenched racism and the larger social structure. Against this backdrop, the paper first examines some of the factors that led to the black‐Korean conflict during the 1992 L.A. riots. It shows that the dominant structure and white racial discourse contributed to these factors, fueling divisiveness and pitting blacks and Korean Americans against each other. In this regard, conflict could have occurred among any minority groups, not necessarily between blacks and Korean Americans. It also examines how the black‐Korean conflict served to sustain and reinforce the existing power structure. Thus, while the social structure perpetuating African Americans’ victimization remained intact, their anger led to the victimization of another minority group, Korean Americans.
  • 8.

    Citizen Participation in Urban Development in Vietnam

    Bui Duc Tho | Han Sang-Yun | 2010, 17(1) | pp.115~138 | number of Cited : 0
    Abstract PDF
    Since the introduction of Doi Moi reform policies in 1986 Vietnam has witnessed a great demand for decentralization and citizen participation in the area of urban planning and development. The land use law and the construction law revised in 2004 are regarded as a symbolic milestone for people participation and decentralization trend in Vietnam. This paper reviews Vietnamese institutions related to citizen participation and analyzes people's view on this matter through questionnaire survey. In Vietnam the level of FDI made by Korean firms is so high uncomparable with other countries and now many Korean construction companies including POSCO and KUMHO are involved in large scale urban development projects in Vietnam. This paper is expected to provide useful information on urban development issues of Vietnam to the scholars who are unfamiliar with policies and institutions of this socialist country.
  • 9.

    The Situational Aspects of Kazakhstan’s Business Sectors and the Characteristics of Business Elites - focused on their Relations with Political Power

    Hwang, Youngsarm | 2010, 17(1) | pp.139~169 | number of Cited : 0
    Abstract PDF
    Kazakhstan's economy growth and business development produced business elite groups since the mid-2000s. These elites can be largely divided into two groups: one that can be viewed as purely civilian group of entrepreneurs and the other that are executives of nationalized companies – bureaucratic business elites in this paper. A group of purely civilian entrepreneurs, in other words financial-industrial group, accumulated big wealth based on the business of oil, gas, metals, minerals and banks and some of them are announced by the journal <Forbes> as world billionaire. Until this year 9 business elites are recorded as world billionaires in Kazakhstan, among them Vladimir Kim of "Kazakhmys" Corporation is the wealthiest. Analyzing these billionaires more minutely, we can find the interrelationship between these wealthy men and the political power – the President. The other business elite group in this paper is leading members of the National Welfare Fund "Samruk-Kazyna". The chairman of the board of directors is Prime Minister of Kazakhstan but the key person is the very Timur Kulibaev who is also <Forbes> billionaire. He occupies the post of Deputy CEO of "Samruk-Kazyna" and gets confidence from the President. All the leading members of the National Fund including 5 ministers concerning economic ministries are appointed by the President, they belong to a friendly group with Nursultan Nazarbaev. In conclusion all the business elites in Kazakhstan today are very close to the President and are associated with political power. Thinking this fact reversely, no one can obtain success in doing business without the aids of the President as far as big business like oil, gas, mineral resources and even financial sectors are concerned.