The Current State of Equity Investments by Foreign Funds [in South Korea] and Related Legal Issues

On September 15, 2004, the South Korean press gave extensive news coverage to a series of private individual “Question & Answer” session meetings which the Capital Group Companies Fund (“Capital Group”) held with many of the top chief executive officers (“CEOs”) of major Korean corporations. Known worldwide as a top U.S. private equity management company, the Capital Group is currently the largest institutional investor in South Korea. As a major shareholder of large corporations such as Samsung Electronics, the Shin Han Financial Group, SK Group, and Hyundai Motors, the U.S. investment firm invited their CEOs to address questions and seek answers concerning the corporations’ overall performance and business trends. The fact that the CEOs readily accepted the Capital Group’s invitation reveals just how great of an influence foreign investment funds exert on corporate management and governance of major corporations in South Korea. News of Sovereign Asset Management (“Sovereign”)’s clash with SK Corporation (“SK”) in early 2004 has also been well publicized, highlighting foreign funds’ willingness to participate in company management in South Korea. After having acquired 14.99% of SK Corp. shares, the European private equity fund took a hostile turn against SK Corp.’s management and controlling shareholders. At SK Corp.’s annual shareholders meeting held in March 2004, Sovereign submitted a shareholder proposal seeking to elect new candidates for the board of directors and to amend the company’s articles of incorporation, culminating in a bitter proxy contest between Sovereign and SK Corp. This Article explores the current state of investments by foreign funds in South Korea and examines related legal issues. Part I briefly summarizes the basic concepts and types of investment funds. Part II examines the current status of securities investments made by foreign funds in South Korea. Part III examines several key legal issues in connection with such investments

Admittance and noise in an electrically driven nano-structure: Interplay between quantum coherence and statistics

We investigate the interplay between the quantum coherence and statistics in electrically driven nano-structures. We obtain expression for the admittance and the current noise for a driven nano-capacitor in terms of the Floquet scattering matrix and derive a non-equilibrium fluctuation-dissipation relation. As an interplay between the quantum phase coherence and the many-body correlation, the admittance has peak values whenever the noise power shows a step as a function of near-by gate voltage. Our theory is demonstrated by calculating the admittance and noise of driven double quantum dots

Association of serum adipocytokine levels with cardiac autonomic neuropathy in type 2 diabetic patients

<p>Abstract</p> <p>Background</p> <p>Cardiac autonomic neuropathy (CAN) is a common complication of diabetes associated with poor prognosis. In addition, the autonomic imbalance is associated with cardiovascular disease (CVD) in diabetes. It is thought that adipocytokines contribute to the increased risk of vascular complications in patients with type 2 diabetes mellitus (T2DM). However, literature data on the association between CAN with adipocytokines such as leptin, tumor necrosis factor-alpha (TNF-alpha), adiponectin in subjects with T2DM is limited.</p> <p>Therefore, in the present study, we examined the relationship between fasting serum leptin, TNF- alpha and adiponectin and CAN in Korean T2DM patients.</p> <p>Methods</p> <p>A total of 142 T2DM patients (94 males, 48 females) were recruited. CAN was assessed by the five tests according to the Ewing's protocol and the time and frequency domain of the heart rate variability (HRV) was evaluated. Serum TNF-alpha and adiponectin levels were measured using enzyme-linked immunosorbent assay and serum leptin levels were measured using radioimmunoassay.</p> <p>Results</p> <p>Although, the mean levels of leptin, TNF-alpha and adiponectin were not significantly different between the groups with and without CAN, the levels of leptin and adiponectin had a tendency to increase as the score of CAN increased (p = 0.05, p = 0.036). Serum leptin levels demonstrated a negative correlation with low frequency (LF) in the upright position (p = 0.037). Regarding TNF-alpha, a significant negative correlation was observed with SDNN and RMSSD in the upright position (p = 0.023, p = 0.019). Adiponectin levels were not related to any HRV parameters. Multivariate logistic regression analysis demonstrated that the odds of CAN increased with a longer duration of diabetes (1.25, [1.07-1.47]) and higher homeostatic model of assessment-insulin resistance (HOMA-IR) (5.47, [1.8-16.5]). The relative risks for the presence of CAN were 14.1 and 51.6 for the adiponectin 2^nd, 3^rdtertiles when compared with first tertile (p-value for trend = 0.022).</p> <p>Conclusions</p> <p>In the present study, the higher serum adiponectin levels and HOMA-IR were associated with an increased risk for the presence of CAN. Also, the CAN score correlated with the serum adiponectin. Serum adipocytokines such as leptin and TNF-alpha were significantly correlated with parameters of HRV, representative markers of CAN. Future prospective studies with larger number of patients are required to establish a direct relationship between plasma adipocytokine concentrations and the development or severity of CAN.</p

Effect of 5-alpha Reductase Inhibitor on Storage Symptoms in Patients with Benign Prostatic Hyperplasia

Purpose Many patients with benign prostatic hyperplasia (BPH) have storage symptoms. The aim of this study was to evaluate the effects of treatment with a 5-alpha reductase inhibitor (5ARI) on storage symptoms in patients with BPH. Methods This study was conducted in 738 patients with lower urinary tract symptoms secondary to BPH. Patients with a prostate volume of higher than 30 mL on the transrectal ultrasound were classified into two groups: group A, in which an alpha blocker was solely administered for at least 12 months, and group B, in which a combination treatment regimen of an alpha blocker plus 5ARI was used. This was followed by an analysis of the changes in parameters such as the total International Prostate Symptom Score (IPSS), voiding symptom subscore, and storage symptom subscore between the two groups. In addition, we examined whether there was a significant difference between the two groups in the degree of change in storage symptoms between before and after the pharmacological treatment. Results Of the 738 men, 331 had a prostate volume ≥30 mL, including 150 patients in group A and 181 patients in group B. Total IPSS, the voiding symptom subscore, and the storage symptom subscore were significantly lower after treatment than before treatment in both groups (P<0.05). A comparison of the degree of change between before and after treatment, however, showed no significant differences in the storage symptom subscore between the two groups (P>0.05). Conclusions Alpha blocker and 5ARI combination treatment is effective for patients with BPH including storage symptoms. However, 5ARI does not exert a significant effect on storage symptoms in BPH patients

Impact of placement of fitbit HR under laboratory and free-living conditions

© 2020 by the authors. Wrist-worn activity monitors have become accessible for measuring physical activities, but an activity monitor\u27s accuracy worn at different placements is not well understood. This study aimed to examine the differences in measurements of heart rates, step counts, and calories estimated from the fitness tracker worn at different locations and the accuracy of Fitbit HR against criterion measures. Thirty-two healthy adults participated in this study. Participants wore Fitbit HR at four different locations (right proximal, distal, and left proximal, distal). Treadmill exercise consisted of five 5-min phases including slow walking and jogging. Free-living activities involved ten 5-min activities with four different intensities. We found that the placement of Fitbit HR has no significant influence on the measurement outcomes overall. However, significant differences were observed in the step counts between left and right while climbing stairs (p = 0.003) and sports activities (p \u3c 0.001). The accuracy of Fitbit HR measurements against the criterion measure was moderate. However, we found out that Fitbit HR overestimated the calories regardless of their positions and activity types. In conclusion, the different placements of Fitbit HR do not have a significant influence on the measurements and Fitbit HR was moderately associated with criterion reference devices for measures of heart rate and steps

Electronic structure of YbB6_{6}: Is it a Topological Insulator or not?

To resolve the controversial issue of the topological nature of the electronic structure of YbB$_{6}$, we have made a combined study using density functional theory (DFT) and angle resolved photoemission spectroscopy (ARPES). Accurate determination of the low energy band topology in DFT requires the use of modified Becke-Johnson exchange potential incorporating the spin-orbit coupling and the on-site Coulomb interaction $U$ of Yb $4f$ electrons as large as 7 eV. We have double-checked the DFT result with the more precise GW band calculation. ARPES is done with the non-polar (110) surface termination to avoid band bending and quantum well confinement that have confused ARPES spectra taken on the polar (001) surface termination. Thereby we show definitively that YbB$_{6}$ has a topologically trivial B 2$p$-Yb 5$d$ semiconductor band gap, and hence is a non-Kondo non-topological insulator (TI). In agreement with theory, ARPES shows pure divalency for Yb and a $p$-$d$ band gap of 0.3 eV, which clearly rules out both of the previous scenarios of $f$-$d$ band inversion Kondo TI and $p$-$d$ band inversion non-Kondo TI. We have also examined the pressure-dependent electronic structure of YbB$_{6}$, and found that the high pressure phase is not a Kondo TI but a \emph{p}-\emph{d} overlap semimetal.Comment: The main text is 6 pages with 4 figures, and the supplementary information contains 6 figures. 11 pages, 10 figures in total To be appeared in Phys. Rev. Lett. (Online publication is around March 16 if no delays.