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[iSSF 2020] Beyond Survival and Toward Coexistence ①

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Wednesday, September 02, 2020, 14:09:30

Kisoo PARK, Professor, College of Medicine, Korea University
EIDs & Human: focused on Covid-19 pandemic

 

[iN THE NEWS Jiyoung KWON] The COVID-19 Pandemic, A new infectious disease that is difficult to experience once in life.

 

At the end of last December, China reported an outbreak of COVID-19, with cases of patients with pneumonia of unknown etiology, to the World Health Organization (WHO). Now, after 6 months, the impact is beyond imagination. As this unexpected situation unfolds, direct damage such as the occurrence of death, as well as socio-economic damage, is spreading. As of July 7, the number of confirmed cases in the world is over 10 million and the number of deaths is at least 500,000. Compared to the 2009 H1N1 (swine flu) pandemic, with about 1.36 million patients and 19,000 deaths, this COVID-19 pandemic is much more serious. The problem is that, given the highly contagious power of the coronavirus, the impact of the second epidemic of the disease will be worse through the fall and winter of this year. About 100 years ago, in 1918, the Spanish flu virus infected a quarter of the world’s population (1.8 to 1.9 billion) and killed 50 million people. Because the second outbreak was more devastating at the time, the concern about COVID 19 is growing.

 

Viruses have infected humans since the start of human civilization

 

We have found the solution to infectious diseases that already existed in our bodies by developing treatments and vaccines. However, the damage caused by cross-species infections between animals and humans lasts for a considerable time, and it takes a long time to find a solution. Such infectious diseases can be traced back through human history. It was 8,000 years ago that the era when people hunted animals to obtain food transformed into the era when people raised livestock such as cattle and sheep to survive. Instead of stably obtaining food, humans took over infectious diseases from animals.

 

The problem is that cross-species transfer of viruses is becoming more frequent as humans try to quickly expand their domain through technological developments. The Spanish flu (pigs) of 1918-1919, AIDS (monkeys) that started in 1920, Ebola virus (monkeys) in 1976, bird influenza (birds) in 1997, SARS (civets) in 2003, and MERS (camels) in 2012 were all infectious diseases that infected humans through cross-species transfer.

 

Infectious diseases have changed human history both in the past and present. The black plague of the middle ages

 

It has been less than a year since this COVID-19 pandemic, but it has made a lot of changes in our daily lives and demanding further changes. Infectious diseases in the past have changed the system of civilization based on disastrous results that are incomparable to the present.

 

The best example would be the black plague. The plague enetrated the human body through fleas attached to rodents such as mice. In the case of respiratory plague, human-to-human infections occurred, and in the Middle Ages, the mortality rate reached 50%. The plague, which struck with famine in medieval Europe in the 14소 century, killed 30 to 40 million people, which is about 20-30% of the European population at the time. As a result, the Hundred Years’ War between France and England was halted, and serfdom was abolished due to a large labor shortage in Europe. Eventually, great socioeconomic turmoil such as famine, war, and plague disrupted the medieval worldview centered on gods and feudal monarchs and lead the medieval era to the Renaissance.

 

 

The structure of modern society that pursues advancement and convenience is more vulnerable to infectious diseases

 

The problem is that the more advanced our society is, the more vulnerable it is to infectious diseases. The first reason is connectivity and mobility. Human movement has never stopped in our 5 million year history, but the speed of our movement has never been faster. We can travel anywhere on the planet in a single day, and viruses can travel at the same speed. It is a clear example that COVID 19 has spread through the world’s major hub cities. The second reason is the creation of a dense, closed, and close environment due to urbanization. The logic of Ulrich Beck, “the more convenience is pursued in the pursuit of technology development and efficiency, the more we go to a risk society” applies equally to the problem of infectious diseases. The last reason is the increase in population.
There was no drastic increase in the global population due to wars, famines, and diseases, but there was a significant increase in the 20th century, thanks to medical advancements and technological developments. The human population increased rapidly, reaching four times what it was 100 years ago when the Spanish flu was spreading (1.8 billion to 7.7 billion). In 2050, the global population is expected to exceed 10 billion people. This increase in the population of one species is unprecedented in Earth’s history. From the perspective of a virus, this population increase means there are more carriers.

 

The emergence of new infectious diseases continues. The human population increases and viruses go beyond species

 

These viruses, bacteria, and other microorganisms contributed to the birth of the human species 4.5 billion years ago in the history of the earth. Cyanobacteria, which is the first microorganism in the world, changed carbon dioxide into oxygen little by little for over 1 billion years. Mammals were born on the land about 2 billion years ago, which led to the bipedal human species about 6 million years ago, resulting in modern-day homo sapiens. We humans have expanded our territory under the pretext of advancement or civilization and viruses continuously jumped between species as a survival strategy.

 

Humans temporarily stopped moving due to such infectious diseases, but they always restored their connectivity and mobility in some way. According to the International Civil Aviation Organization (ICAO), in the past, flights were temporarily stopped due to MERS, SARS, and swine flu, but most of them were restored to their original state within a year. Our desire to fly further is like Icarus who was unable to plant his roots. Connectivity has transcended spatial limitations through communication technology, and a key example would be video calls in this COVID-19 pandemic.

 

Going beyond survival, toward coexistence. We must understand the essence of the issue from a global perspective

 

While the COVID-19 pandemic shows no signs of slowing down, the spread of the COVID-19 epidemic is growing, especially in the US. At this rate, the height of the 2nd wave is bound to be more disastrous. Aside from smallpox, which is the first virus to be completely eradicated in human history, no infectious disease has disappeared from the planet despite the development of treatments and vaccines. Considering the highly contagious nature of COVID-19, it’s highly likely that humans will have to coexist with this disease. The changes in our daily lives and socioeconomic impacts of COVID-19 raise questions regarding how humans should live from now on. Efforts to get rid of COVID-19 in the world through treatments and vaccines are commendable, but this is solely a human survival strategy that does not address the essence of the issue at hand. Whether to coexist with nature or suffer under new infectious diseases is up to us.

 

English(中文·日本語) news is the result of applying Google Translate. <iN THE NEWS> is not responsible for the content of English(中文·日本語) news.

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권지영 기자 eileenkwon@inthenews.co.kr


‘기업 밸류업’ 가이드라인 공개…‘쪼개기상장’ 시장에 설명 권고

‘기업 밸류업’ 가이드라인 공개…‘쪼개기상장’ 시장에 설명 권고

2024.05.02 16:14:17

인더뉴스 문승현 기자ㅣ금융당국이 '기업 밸류업 프로그램'의 핵심인 '기업가치 제고계획' 수립 원칙과 세부 작성법을 담은 가이드라인을 내놓았습니다. 밸류업 당사자로 새로운 형태의 공시라는 숙제를 받아든 상장기업에 길라잡이를 제시해 이행 초기 혼란을 최소화하고 적극적인 밸류업 프로그램 동참을 독려하기 위한 조처로 받아들여집니다. 하지만 기업이 민감하게 반응하는 '지배구조'를 한국증시 주요 저평가 요인중 하나로 지목하고 개선방안 공시를 권고하면서 일선 기업들의 수용성에 변수로 작용할 것으로 전망됩니다. 금융위원회는 2일 한국거래소·자본시장연구원과 함께 기업 밸류업 지원방안 2차세미나를 열고 '기업가치 제고계획 가이드라인(안)'을 공개했습니다. 이번 가이드라인은 기업가치 제고계획 흐름도를 '기업개요-현황진단-목표설정-계획수립-이행평가-소통'으로 구성했습니다. 먼저 '기업개요'에는 기업가치 제고계획이 그 자체로 기업에 대한 완결성 있는 보고서로 기능할 수 있도록 업종, 주요 제품·서비스, 연혁, 재무상태 등 기본적인 정보를 기재합니다. '현황진단'은 기업의 사업현황에 대해 시장환경·경쟁우위요소·리스크 등을 입체적으로 진단하고 다양한 재무·비재무 지표 중 중장기적인 가치제고 목적에 부합하는 핵심지표를 선정·분석하는 단계입니다. 주요 재무지표는 ▲PBR(주가순자산비율), PER(주가이익비율) 등 시장평가 ▲ROE(자기자본이익률), ROIC(투하자본이익률), COE(주주자본비용), WACC(가중평균자본비용) 등 자본효율성 ▲배당(금액·성향·수익률), 자사주(보유분·신규취득·소각내역), TSR(총주주수익률) 등 주주환원 ▲매출액·영업이익·자산 증가율 등 성장성 ▲자산 포트폴리오(영업·비영업자산), FCF(잉여현금흐름), 부채비율 등 기타로 분류해 다각적인 지표를 예로 제시했습니다. 비재무지표는 지배구조 관련 일반주주 권익제고, 이사회 책임성, 감사 독립성을 위한 여러 요소를 기존 '기업지배구조보고서' 공시항목 및 기관투자자 등 시장참여자가 주목하는 내용을 중심으로 합니다. 가령 상장기업이 성장성 높은 사업부문을 물적분할한 뒤 분할자회사를 상장하는 모자회사 중복상장 이슈가 있다면 기업은 모회사 일반주주 권익을 보호·증진하는 계획을 설명하거나 물적분할 후 분할자회사를 비상장 완전자회사로 유지하는 계획을 밝히는 소통을 할 수 있습니다. 이른바 '쪼개기 상장'은 핵심사업부를 자회사로 쪼개 신규상장하면서 모회사 기업가치를 떨어뜨리고 기존 주주의 지분가치가 훼손된다는 지적이 제기돼 왔습니다. 또 다른 예로 상장기업 지배주주 및 그 특수관계인의 비상장 개인회사 보유 이슈가 있는 경우 상장기업과 비상장 개인회사간 이해상충 우려를 해소하기 위한 정확한 사실관계와 향후 계획을 설명할 수 있습니다. 가이드라인은 감사위원 분리선출을 통한 감사 독립성 강화도 좋은 예시로 기업은 감사위원 분리선출 현황과 향후 계획을 밝힐 수 있다고 설명합니다. '목표설정'에서는 일시적·임시방편적 개선이 아닌 중장기 목표를 제시합니다. 중장기적 사업전략없이 단기적인 주가부양만을 목표로 하는 것은 기업가치 제고계획 취지와 부합하지 않는다고 가이드라인은 분명히 밝히고 있습니다. 계량화된 수치로 명료하게 제시하는 것이 권장되지만 정성적인 서술 또는 구간제시 등 다양한 방법의 목표설정도 가능합니다. '계획수립'에서 기업은 목표달성을 위한 구체적인 계획을 작성하며 사업부문별 투자, R&D확대, 사업 포트폴리오 개편, 자사주 소각·배당 등 주주환원, 비효율적인 자산처분 등 다양한 사업전략적·재무적 계획을 수립할 수 있습니다. 이와 함께 기업은 연 1회 공시 사이에 어떤 노력을 이행했는지 잘된 점과 보완 필요사항을 기재(이행평가)하고 주주·시장참여자 의견이 경영에 반영될 수 있는 공식적인 프로세스를 구축해 쌍방향 '소통'을 확대합니다. 상장사 이사회는 경영진이 기업가치 제고계획을 적절히 수립·이행하는지 감독하고 필요하다면 이사회 보고, 심의 또는 의결을 거치는 등 적극적으로 참여해야 한다고 금융위는 강조합니다. 공시는 연 1회 등 주기적 공시와 외국인투자자를 위한 영문공시 병행이 권장되며 예고공시도 가능합니다. 이번 기업가치 제고계획 가이드라인·해설서 제정안은 최종 의견수렴을 거쳐 이달중으로 확정·발표될 예정입니다. 이후 준비가 되는 기업부터 거래소 상장공시시스템(KIND)을 통해 공시를 시작합니다. 김소영 금융위 부위원장은 이날 축사에서 "기업 밸류업은 긴 호흡으로 추진해야 할 과제이며 기업가치 제고계획 가이드라인은 기업 밸류업 지원방안의 끝이 아니라 시작"이라고 말했습니다. 그러면서 "정부와 유관기관은 밸류업 세제 지원방안 마련·발표, 코리아 밸류업 지수 개발, 연계 상장지수펀드(ETF) 상장, 우수기업 표창 등 과제를 차질없이 추진하며 적극 지원하겠다"고 강조했습니다.


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