근해통발어업 임금지급방식의 문제점에 관한 연구 - 선급금 지급 관행을 중심으로 -

문성주 ( Seong-ju Moon ),김우수 ( Woo-soo Kim ),강종호 ( Jong-ho Kang ) 한국수산경영학회 2019 수산경영론집 Vol.50 No.1

Offshore trap fishery managers have payed in advance to attract excellent fishing crew in the minium grantee lay system. This practice can intensify competition among fishery management bodies and increase the burden of fishery manager about income tax and four social insurance programs. The purpose of this study is to identify the problems of advance payment practice in terms of fishery manager in offshore trap fishery. The main results of this study are as follows. First, under the TYPE 1 model, which is the current wage payment manner, there is a risk that fishery manager will not able to return the prepayment paid in advance when the income of fishery management bodies decrease. Second, the TYPE 2 or the TYPE 3 model which reduces or abolishes advance payment can alleviate the burden of fishery manager relative to the deduction of redemption amount, incentive to induce artificial expenses, income tax and four social insurance programs. In conclusion, advance payment practice in offshore trap fishery is placing a heavy burden on the fishery manager. In order to solve these problems in the future, we need to find solutions through similar case studies.

사적고찰로 본 한·일 바다목장사업의 전개과정 및 향후과제

문성주(Seong-Ju Moon),김대영(Dae-Young Kim),안영수(Young-Su An),양성국(Sung-Kuk Yang) 韓國經營史學會 2014 經營史學 Vol.72 No.-

바다목장사업은 일정한 해역에 인공어조 조성 및 종묘 방류사업을 통해 경영안정화와 풍요로운 어촌 조성을 목적으로 하고 있다. 일본은 1984년 오이타현에서, 한국은 1998년 통영에서 처음 바다목장이 조성되었고 이를 통해 기존의 자원약탈형 어업에서 친환경적 방식의 지속가능한 어업으로 변화를 꾀하였다. 일본에서 조성된 대표적 바다목장으로는 오이타현(大分県) 바다목장, 미에현(三重県) 바다목장, 후쿠이현(福井県) 바다목장, 나가사키현(長崎県) 바다목장 등이 있다. 우리나라는 어로형을 기본으로 한 시범바다목장을 통영·여수에 조성했고, 해양관광·레저기 능이 부가된 ‘테마형’ 시범바다목장을 울진(관광형), 제주(체험·관광형), 태안(갯벌형)에 각각 조성하였다. 이들 중 사례분석 대상인 일본의 아바만 바다목장과 우리나라 통영 바다목장의 성과를 분석한 결과 바다목장 어획량은 기대보다 저조하였다. 이는 바다목장사업 자체의 효과가 미비하여 발생할 가능성도 있지만 측정도구 및 측정방법의 미비로 수산자원 증식량을 정확히 측정하지 못한데 기인할 가능성이 더 높다고 사료된다. 이러한 문제점을 해소하기 위해서는 바다목장 해역에 대한 어종생태, 회유로, 분포 및 밀도를 현장조사를 통해 방류된 자원량의 증식효과를 과학적으로 확인 또는 재점검하는 조치가 필요하다. 또한 어업인 소득증대를 위해 적합한 방류어종 선정 및 방류 확대 사업 외에도 브랜드화를 통해 고부가가치화를 하는 노력도 추진해야 한다. 이를 위해서는 무엇보다 지자체의 적극적인 관리 노력과 지원, 그리고 어업인의 자율적인 참여와 적극적인 의지가 뒷받침되어야 할 것이다. Marin ranching consists of resources cultivation(environment creation, restocking), fisheries control, fisheries catch for sustainable production, stable management, and affluent fishing village. The Japan marin ranching project was launched in 1984(Oita Prefeture),and the Korea marin ranching project are launched in 1998(Tong-Yeong). These project is alternatives for sustainable production in ecosystems where catches are falling due to overexploitation and destruction on fishery grounds. Janpan government has increased preliminary marine ranching site such as MIE, Fukui and Nagasaki Prefeture, and Korea government expand preliminary marine ranching site such as Yeosu, Uljin, Taean, JeJu. The survey result of Nagasaki Abba and Tong-Yeong marine ranching project shows that there are lack of visible performance, though the catch rate of some fish increased after maring ranching project. In order to overcome the problems we should consider to support this additional follow-up measures. First, scientific monitoring tool and method should be introduced to the marine ranching project to carry out the above plans more efficiently. Second, local fishermen s voluntary participation and local government s active management efforts are necessary to settle marine ranching project successfully.

욕지도(欲知島)의 지속가능한 관광산업 전략

문성주 ( Seong Ju Moon ),손판도 ( Pan Do Sohn ) 한국도서(섬)학회 2013 韓國島嶼硏究 Vol.25 No.4

Tourism is one of the principal economic activities in islands. It is the essential source of job opportunities, livelihood and inclusive growth for such areas. In is paper, we developed and designed a sustainable strategy of tourism industry in Yokjido(island), Tongyeong by focusing on the characteristics of this area. We also suggested the best strategy to enhance tourism industry economically. To accomplish this strategy, we decomposed the tourism concept of Yokjido into two parts, wellbeing and healing. Wellbeing has to do with the natural scenery and environment and also making the tourist`s spiritual and physical mind happy. Healing restores our health from an unbalanced, diseases and damaged organism to a healthy one. Healing involves the repair of living tissue, organs and the biological system as a whole and resumption of normal functioning. The tourism of Yokjido generates all these functions to every tourists. Thus, we should analyze the function of these two types and try to deliver them to all tourist of Yokjido.

실물옵션을 이용한 재건축사업 가치평가에 관한 연구

문성주 ( Seong Ju Moon ),김대호 ( Dae Ho Kim ) 한국금융공학회 2011 금융공학연구 Vol.10 No.3

Recently many apartment reconstruction projects have been executed for the improvement of living conditions and the supply of new apartment. But, the process of apartment reconstruction projects contains a lot of risk factor and uncertainty. In addition traditional valuation method, DCF have failed because this method cannot properly capture strategy flexibility and uncertainty of apartment reconstruction projects. So, This study is to suggest the application of the Real Option to apartment reconstruction projects valuation. An Real Option Approach to apartment reconstruction projects has the potential to conceptualize and quantify the value of American Sequential Compound Option by binomial lattice model. We suggest a modeling process of Real Option using Seoul Jamsil OO reconstruction apartment complex. We estimate option volatility by Monte-Carlo Simulation and up step-size, down step-size, risk-neutral provability by Cox, Ross, Rubinstein(1976) method. the main results are as follows. The passive NPV of Seoul Jamsil OO reconstruction apartment complex using DCF method is ￦ 440.4 billion. The value of American Sequential Compound Option by binomial lattice model is ￦ 44.2 billion. So, the expanded NPV is ￦ 484.2 billion when we consider strategy flexibility and uncertainty. Finally we expect that this study will improve the confidency and accuracy of valuation process and more helpful to the decision making about apartment reconstruction project.

한·중 증권시장 발전사의 비교분석

문성주(Seong-ju Moon),김홍배(Hong-bae Kim),김우수(Woo-su Kim) 한국경영사학회 2016 經營史學 Vol.80 No.-

본 논문은 비교사적 관점에서 한·중 증권시장의 발전사를 시장형성기, 기반구축기, 국제화 및 시장확장기 등으로 나누어 살펴보고 발전 단계별로 비교분석하고자 한다. 주요한 분석결과는 다음과 같다. 첫째, 한국의 경우 증권시장 시장형성기에 일본의 영향을 많이 받았고, 증권시장도 전쟁 및 국가재건 자금을 조달하기 위해 형성되었다. 이에 반하여 중국은 공산당의 정책에 영향을 많이 받았는데 1978년 개혁개방정책 이전에는 모든 증권시장이 폐쇄되어 한국보다 증권시장발달이 상대적으로 늦어졌다. 둘째, 한국 증권시장의 기반은 1956년 대한 증권거래소 설립 및 1962년 증권법이 제정되면서 조성되었다. 이에 반하여 중국 증권시장의 기반은 1990년 상해 및 선전 증권거래소 설립 및 1998년 증권법이 제정되면서 조성되었다. 셋째, 한국 증권시장의 국제화는 1981년 재무부의 자본시장 국제화 장기계획에 의해 시작되었으며 1998년 5월에 외국인 직접투자가 전면 허용되었다. 중국 증권시장의 국제화는 2001년 WTO가입을 계기로 총 네차례의 시장개방 조치를 통해 진행되었다. 넷째, 한국이 중소·벤처기업을 육성하기 위해 코스닥시장 및 코넥스시장을 개설한 것과 유사하게 중국은 중소기업판(中小板), 차스닥(創業板) 및 신삼판(新三板)을 개설하였으며 한국 파생상품시장에서는 주가지수선물 및 옵션의 거래량이 상품선물보다 상대적으로 높은데 반하여 중국에서는 상품선물 거래량이 금융선물보다 상대적으로 높았다. 마지막으로 1992년 한중수교를 계기로 한·중 증권시장의 상호 연계성은 더욱 강화되고 있음을 알 수 있었다. <영어 초록> This paper focus on the developmental history of Korean and China securities markets on the view of comparative perspective into market formation, infrastructure construction, internationalization, and market expansion. The main results are as follows. First, The formation of the securities market in Korea was influenced by Japan and the securities market was formed to finance the war and national reconstruction. China securities market was influenced by the policies of the Communist Party. Prior to the reform and opening policy in 1978, all securities markets were closed and the development of the securities market was relatively slower than that of Korea. Second, The foundation of the Korean securities market was established with the establishment of the Korea Stock Exchange in 1956 and the enactment of the Securities Act of 1962. The foundation of the Chinese securities market was established in 1990 when the Shanghai and Shenzhen securities exchanges were established and the Securities Act of 1998 was enacted. Third, The internationalization of the Korean securities market began in 1981 by the Ministry of Finance `s long - term plan for internationalization of capital markets. In May 1998, foreign direct investment was fully accepted. The internationalization of the Chinese securities market has been completed through four market opening measures with the accession to the WTO in 2001. Fourth, Similar to Korea`s opening of the KOSDAQ and KONEX markets to foster small and medium-sized venture companies, China has opened Small Medium Business Board, CHASDAQ and New Third Board. In the Korean derivatives market, trading volume of stock index futures and options is relatively higher than that of commodity futures, while commodity futures trading volume in China is relatively higher than financial futures. In conclusion, we can conclude that the interlinkage between Korea and China securities market has been strengthened in 1992 as a result of Korea-China diplomatic relations.

식품안전 위해물질의 발생 및 언론보도가 수산물 생산, 유통 및 소비에 미치는 영향

문성주 ( Seong-ju Moon ),강종호 ( Jong-ho Kang ) 한국수산경영학회 2021 수산경영론집 Vol.52 No.4

This study investigated whether there is a correlation between the occurrence of hazardous substances such as vibrio, norovirus, radioactivity, shellfish posion, hepatitis A, etc. and media reports, and whether the occurrence of hazardous substances and media reports affect the production, distribution and consumption of aquatic products. The main research results are as follows. First, it can be seen that there is a difference in the relationship between the occurrence of hazardous substances and media reports according to hazardous substances. Second, it suggests seen that the occurrence of hazardous substances and media reports can have a negative effect on the production and the prices of aquatic products. Third, it was found that the occurrence and reporting of hazardous substances had different effects on the distribution margin of aquatic products due to the complexity and rigidity of the distribution structure. Fourth, consumers feel a threat to aquatic products safety and significantly reduce consumption when hazardous substances occur. There is a possibility that concerns about one item may lead to a decrease in consumption of domestic and imported aquatic products that are not related at all to the occurrence of hazardous substances. In conclusion, aquatic products are exposed to various hazardous substances such as vibrio, norovirus, radioactivity, shellfish posion, and hepatitis A. It was found that the occurrence of hazardous substances and its media reports could cause damage to the fishery sector.

연구과제 특성별 연구비 차이분석

문성주(Moon, Seong-Ju),양성국(Yang, Sung-Kuk),이광로(Lee, Kwang-Ro) 대한경영학회 2006 大韓經營學會誌 Vol.19 No.3

VKOSPI선물의 헤지성과에 관한 연구

문성주 ( Seong Ju Moon ),김희성 ( Hee Seong Kim ) 한국금융공학회 2018 금융공학연구 Vol.17 No.2

본 연구는 2014년 11월 17일부터 2017년 12월 31일까지의 VKOSPI선물을 활용하여 기초자산이 KOSPI200인 포트폴리오의 변동성 위험과 외가격 콜옵션 및 풋옵션의 베가위험에 대한 헤지 포트폴리오 구성시 어느 정도 헤지성과가 있는지를 살펴보았다. 본 연구의 주요 분석결과는 다음과 같다. 첫째, VKOSPI선물의 경우 최근원물거래는 상대적으로 가장 활발한 반면에 원월물 및 원원월물은 거래가 전혀 형성되지 못하고 있었다. 둘째, VKOSPI선물을 활용하여 KOSPI200을 복제 또는 추종하는 포트폴리오의 변동성 위험에 대한 헤지효과를 분석한 결과 최소 24.34%에서 최대 28.51%의 낮은 헤지성과를 보였으며 주가 상승기보다 하락기에 헤지성과가 상대적으로 더 높은 것을 알 수 있었다. 셋째, 외가격 콜옵션 및 풋옵션의 베가위험에 대한 VKOSPI선물의 헤지성과를 살펴본 결과 대부분의 헤지 포트폴리오가 무헤지 포트폴리오보다 포트폴리오 분산을 더 증가시킴을 알 수 있었다. 또한 헤지구간을 무헤지 포트폴리오의 이익발생 및 손실 발생 구간으로 나누어 살펴보면 대부분의 헤지 포트폴리오가 무헤지 포트폴리오보다 이익 및 손실의 변동폭을 더욱 더 확대시킴을 알 수 있었다. 결론적으로 VKOSPI200선물은 선물거래의 비활성화 및 변동성 예측구간의 상이함으로 인하여 KOSPI200지수 및 실현변동성에 대한 설명력이 낮아 기초자산이 KOSPI200인 포트폴리오의 변동성 위험과 외가격 콜옵션 및 풋옵션의 베가위험을 헤지하기 위한 수단으로 미흡함을 알 수 있었다. 이를 해결하기 위해서는 VKOSPI선물시장의 활성화와 변동성 예측구간의 일치가 선행되어야 할 것으로 판단된다. This study focus on the hedge performance about KOSPI200 volatility risk hedge portfolio and OTM Call and Put vega risk hedge portfolio using VKOSPI futures from November 17, 2014 to December 31, 2017. The major empirical results are as follows; First, we analyzed the hedge performance of portfolio that replicates or follows KOSPI200 using VKOSPI futures. VKOSPI futures’ hedge performance was shown minimum 24.34% and maximum 28.51%. We can see that the hedge performance is relatively higher in the period of stock market decline than the stock market rise. Second, we examined the hedge performance of OTM Call and Put vega risk using VKOSPI futures. As a result, Most of hedge portfolio are more risky than the non-hedge portfolio. In conclusion, the VKOSPI futures is insufficient to hedge volatility risk and vega risk due to the insufficient liquidity of VKOSPI futures and the difference in the forecast period of the volatility.

수산물 냉동·냉장공장사업의 경제성 분석에 관한 연구

문성주(Seong-Ju Moon),김대영(Dae-Young Kim),김현규(Hyun-Gyu Kim) 한국해양비즈니스학회 2015 해양비즈니스 Vol.- No.30

The purpose of this study aims to evaluate the economic performance of a freezing and refrigeration factories located in Tongyeong Gyeongnam. We select two cases(A suhyup, B suhyup) to test business feasibility analysis using B/C(Benefit Cost Ratio), IRR(Internal Rate of Return), NPV(Net Present Value) methods. The main results are following. First, the area of Gyeongnam has been ranked 1st on the view of the number of freezing and refrigeration factories, 2th on the view of the capacity of freezing, and 3th on the view of the capacity of refrigeration. Specially, Tongyeong has a relatively more freezing and refrigeration factories than in the other area of Gyeongnam. Second, A suhyup fishery refrigerated warehouse project seems a high economic performance when we consider the effect of supply control. Also the business feasibility exists even though we don't take into account the effect of supply control. Third, B suhyup fishery refrigerated warehouse project economics is present in the best and normal scenario but isn't present in the worst scenario. Forth, the investment funds of cental government and local government influence on the economic evaluation. It can be concluded through the results of this study that the freezing and refrigeration factories located in Tongyeong Gyeongnam have high economic performance by the effect of supply control. However this results calculate under the more relaxed assumptions. So the further study should be conducted under more stringent assumptions.

불확실성하에서 북태평양 미드웨이 시험어장의 경제성 평가: 다랑어연승 어장을 중심으로

문성주 ( Seong Ju Moon ),진상대 ( Sang Dae Jin ),안영수 ( Young Su An ),김영승 ( Yeong Seung Kim ),황선재 ( Seon Jae Hwang ) 한국수산경영학회 2009 수산경영론집 Vol.40 No.1