• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.2
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• pp.113-127
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• 2012

From the end of 1st quarter of 2012, Korean mandatory firms had started releasing financial reports conforming to the K-IFRS(Korean adopted International Financial Reporting Standards). Major characteristics of IFRS, such as 'principles based' features, consolidated reporting, 'fair value' measurement, increased pressure for non-financial disclosures have resulted in brief and various disclosure practices regarding the main body of each statements and vast amount of note description requirements. Meanwhile, a host of previous studies on IFRS disclosures have incorporated regulatory and/or 'compete information' perspectives, mainly focusing on suggesting further enforcement of strengthened requirements and providing guidelines for specific treatments. Thus, as an extension of prior findings and suggestions this study had explored to conduct an integrative approach embracing views of the reporting entities and the users of financial information. In spite of all the state-driven efforts for faithful representation and comparability of corporate financial reports, an overhaul of disclosure practices of fiscal year 2010 and 2011 had revealed numerous cases of insufficiency and discordance in terms of mandatory norms and market expectations. As to the causes of such shortcomings, this study identified several factors from the corporate side and the users of the information; some inherent aspects of IFRS, industry/corporate-specific context, expenditures related to internalizing IFRS system, reduced time frame for presentation. lack of clarity and details to meet the quality of information - understandability, comparability etc. - commonly requested by the user group. In order to improve current disclosure practices, dual approach had been suggested; Firstly, to encourage and facilitate implementation, (1) further segmentation and differentiation of mandates among companies, (2) redefining the scope and depth of note descriptions, (3) diversification and coordination of reporting periods, (4) providing support for equipping disclosure systems and granting incentives for best practices had been discussed. Secondly, as for the hard measures, (5) regularizing active involvement of corporate and user group delegations in the establishment and amendment process of K-IFRS (6) enforcing detailed and standardized disclosure on reporting entities had been recommended.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.3
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• pp.75-86
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• 2017

The development of web technologies and the generalization of smartphones have dramatically increased the number of social media users using the Internet. As a result, companies are perceived social media as a major marketing tool and operate a variety of SNS channels. In particular, start-ups conducting businesses with limited resources, social media is being used as an effective marketing tool to meet many potential customers at a low cost. Among them, facebook is the most used channel in the world and plays an important promotional tool not only in overseas but also in marketing activities of domestic start-ups. The purpose of this study is to analyze the relationship between satisfaction and purchase intention according to four personal characteristics of users who use social media contents and to measure the mediating effect of satisfaction on the relationship between content type and purchase intention. To this end, we classified into three types based on the previous research, and social media content is provided to 200 fans of Minbak Danawa(Minda), one of representative start-ups related to accommodation, The questionnaires were conducted for 3 weeks, and a total of 145 copies were collected. All the collected questionnaires were used for statistical analysis through SPSS 18.0. The empirical results show that all three types of content, such as task-oriented, self-oriented, and interaction-oriented, have a significant effect on the satisfaction level. Among them, it is confirmed that the satisfaction level plays a mediating role on the relationship between task-oriented contents and purchase intention. And the user 's personal characteristics showed a partially moderate effect on the satisfaction according to the content type. Therefore, social media content provided by corporations has an important effect on consumer satisfaction and purchasing, in order for start-up to prevail in the market, it is necessary to have an operational strategy to communicate with customers continuously through systematic contents analysis and planning. The result of this study suggests effective ways to build a social media marketing strategy for start-ups and suggests ways to utilize contents considering the characteristics of internet users.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.4
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• pp.21-32
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• 2012

The current beauty service of Korea is upgrading its outside appearance from traditional small-shop image and its speed of change and competition are more severe than ever before. The top priority trait of beauty management is based on man-power resource, and personnel-management is the most important thing that more than anything else. Compared with other arenas of business, personnel management plays a key role in beauty industry. As a result, this research begins with the issue of personnel management. In addition, I will show that the management leadership of beauty service affects organization civil actions and changing jobs in the beauty industry employees, and the leadership can lower changing job rate to some extent. The role and duty of business manager is very significant because the dependence of man-power resource is magnificent in beauty service. In spite of rapid changing of economic surroundings, the management of beauty service is still working without any detail plans. It is no exaggeration to say that the most of beauty service managers are lack of leadership conception. Although the demands of customers are changing everyday, the frequent changing of jobs among talented employees drops customers credibility and high-quality service. From a management viewpoint, re-training cost of employees leads to economic loss and the company suffers from financial problems. As a result, it creates vicious circle in the beauty industry. Today, the management atmosphere in the beauty service is hard to get its right track because of the cutthroat competitions of beauty industry and difficulties of hiring promising employees. It has been said that "Nothing ventured, Nothing gained" Above all, the beauty service requires job speciality and it produces economic profits. Therefore, the managers desperately need to change the way they regard those with job changers. In this research shows the principal index of the leadership type of beauty business managers how much affects its employees' long-term working condition. The new concept of leadership, such as alternative suggestions, setting goals, and organization civil action will reorganize the stereo-type frame. I will also investigate the factors of job changing and intention of the beauty service employees for the development option of the beauty industry.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.4
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• pp.49-57
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• 2015

This research is to analyze the mediating effect of product innovation between work-life balance (work-family balance, work-leisure balance and work-development balance) and corporate performance in venture SMEs. We test four hypothesis. First, we test the hypothesis that work-life balance has a positive effect on product innovation. Second, we test the hypothesis that product innovation has a positive effect on corporate performance. Third, we test the hypothesis that work-life balance has a positive effect on corporate performance. Fourth, we test a positive mediating role of product innovation between work-life balance and corporate performance. For this research, we administered the questionnaire surveys, and got the 162 effective data of korean venture SMEs. We use CFA and SEM analysis of research model by AMOS 18.0. As a result, we can find the four meaningful results. First, work-life balance, especially only work-development balance, has a positive effect on product innovation. Second, product innovation has a positive effect on corporate performance. Third, the relationships between work-life balance (work-family balance, work-leisure balance and work-development balance) and corporate performance are no significant after the mediating variable (product innovation) is added. Fourth, product innovation has a positive mediating effect between work-life balance, especially only work-development balance, and corporate performance. Although this research has some limitations of generalization because of the limited size of samples, we has meaningful information related to the venture companies in the academic and business field. Additionally, the Multiple Indicator Multiple Cause(MIMIC) model is recommended in the future research.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.6
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• pp.249-267
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• 2021

The use of big data accumulated along with the progress of digitalization is bringing disruptive innovation to the global agricultural industry. Recently, the government is establishing an agricultural big data platform and a support organization. However, in the domestic agricultural industry, the use of big data is insufficient except for some companies in the field of cultivation and growth. In this context, this study identifies factors affecting the intention to use big data in terms of technology, organization and environment, and also confirm the moderating effect of technical field, focusing on agricultural ventures which should be the main entities in creating innovation by using big data. Research data was obtained from 309 agricultural ventures supported by the A+ Center of FACT(Foundation of AgTech Commercialization and Transfer), and was analyzed using IBM SPSS 22.0. As a result, Among technical factors, relative advantage and compatibility were found to have a significant positive (+) effect. Among organizational factors, it was found that management support had a positive (+) effect and cost had a negative (-) effect. Among environmental factors, policy support were found to have a positive (+) effect. As a result of the verification of the moderating effect of technology field, it was found that firms other than cultivation had a moderating effect that alleviated the relationship between all variables other than relative advantage, compatibility, and competitor pressure and the intention to use big data. These results suggest the following implications. First, it is necessary to select a core business that will provide opportunities to generate new profits and improve operational efficiency to agricultural ventures through the use of big data, and to increase collaboration opportunities through policy. Second, it is necessary to provide a big data analysis solution that can overcome the difficulties of analysis due to the characteristics of the agricultural industry. Third, in small organizations such as agricultural ventures, the will of the top management to reorganize the organizational culture should be preceded by a high level of understanding on the use of big data. Fourth, it is important to discover and promote successful cases that can be benchmarked at the level of SMEs and venture companies. Fifth, it will be more effective to divide the priorities of core business and support business by agricultural venture technology sector. Finally, the limitations of this study and follow-up research tasks are presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.6
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• pp.69-84
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• 2021

As industrial structural changes in the 4th Industrial Revolution have recently led to the need for fostering high-tech industries and high-tech manufacturing industries have been showing high value-added creation, the importance of high-tech manufacturing ventures has increased a lot as well. As a result of this, the government is actively supporting and fostering them. However, it appears that high-tech manufacturing ventures seem to have a lot of difficulty in securing competitive advantages due to the lack of internal core competencies and experience in the rapidly changing international economic conditions. In order for high-tech manufacturing ventures to strengthen internal core competencies, external collaborations with other companies or institutions which have diverse experience, technology skills and abundant resources are actively promoted. Accordingly, based on resource-based theory and transaction cost theory, the authors analyzed the effects of the high-tech manufacturing ventures'external collaborations on internal core competencies and management performance in this study. In order to verify the hypothesis of this study, the 2020 data on"The Research on the Precision Status of Ventures'compiled by the Ministry of SMEs and Startups since 1999 were utilized. According to the results of this study, the experience of external collaborations had a positive impact on the internal core competencies and non-financial management performance, while there was no direct impact on financial management performance. Moreover, the relationship between the experience of external collaborations and management performance is mediated by the internal core competencies. Additionally, it was found that the internal core competencies positively affected both non-financial and financial management performances, and non-financial management performance again had a significant impact on the financial management performance. Finally, the experience of external collaborations had a positive impact on both development, manufacturing, and marketing factors forming the internal core competencies. However, the impacts of individual factors were different in the management performance. Development and marketing factors were shown to have a significant impact on both non-financial and financial management performance, while the manufacturing factor had a significant impact only on financial management performance.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.77-90
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• 2023

This study aims to investigate the potential of alternative credit assessment through Social Networking Sites (SNS) as a complementary tool to conventional loan review processes. It seeks to discern the impact of SNS usage characteristics and loan product attributes on credit loan repayment. To achieve this objective, we conducted a binomial logistic regression analysis examining the influence of SNS usage patterns, loan characteristics, and personal attributes on credit loan conditions, utilizing data from Company A's credit loan program, which integrates SNS data into its actual loan review processes. Our findings reveal several noteworthy insights. Firstly, with respect to profile photos that reflect users' personalities and individual characteristics, individuals who choose to upload photos directly connected to their personal lives, such as images of themselves, their private circles (e.g., family and friends), and photos depicting social activities like hobbies, which tend to be favored by individuals with extroverted tendencies, as well as character and humor-themed photos, which are typically favored by individuals with conscientious traits, demonstrate a higher propensity for diligently repaying credit loans. Conversely, the utilization of photos like landscapes or images concealing one's identity did not exhibit a statistically significant causal relationship with loan repayment. Furthermore, a positive correlation was observed between the extent of SNS usage and the likelihood of loan repayment. However, the level of SNS interaction did not exert a significant effect on the probability of loan repayment. This observation may be attributed to the passive nature of the interaction variable, which primarily involves expressing sympathy for other users' comments rather than generating original content. The study also unveiled the statistical significance of loan duration and the number of loans, representing key characteristics of loan portfolios, in influencing credit loan repayment. This underscores the importance of considering loan duration and the quantity of loans as crucial determinants in the design of microcredit products. Among the personal characteristic variables examined, only gender emerged as a significant factor. This implies that the loan program scrutinized in this analysis does not exhibit substantial discrimination based on age and credit scores, as its customer base predominantly consists of individuals in their twenties and thirties with low credit scores, who encounter challenges in securing loans from traditional financial institutions. This research stands out from prior studies by empirically exploring the relationship between SNS usage and credit loan repayment while incorporating variables not typically addressed in existing credit rating research, such as profile pictures. It underscores the significance of harnessing subjective, unstructured information from SNS for loan screening, offering the potential to mitigate the financial disadvantages faced by borrowers with low credit scores or those ensnared in short-term liquidity constraints due to limited credit history a group often referred to as "thin filers." By utilizing such information, these individuals can potentially reduce their credit costs, whereas they are supposed to accrue a more substantial financial history through credit transactions under conventional credit assessment system.

• Journal of the Economic Geographical Society of Korea
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• v.23 no.4
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• pp.425-437
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• 2020

In Korea, the proportion of self-employed and unpaid family workers is relatively higher than other OECD countries and the operation periods of their businesses are generally shorter than others. This indicates frequent startups and closures and thus unstable employment status and income, which inevitably generates huge social costs. Restaurants are a representative business that self-employed workers easily enter and their 5-year survival rate is found to be lower than 20%. This is shorter survival period than other business sectors. This study aims to examine the associations of transport accessibility with restaurants' survival in Gwangju metropolitan area. Convenient location has been known to be a crucial factor for sales improvements and longer operation and such location is closely linked with good transport accessibility. Results from survival analysis on empirical data show that better access to road networks is significantly associated with longer survival of restaurants though subway accessibility is not. This can be explained by low modal share of subway in the study area and at the same time, requires further case studies where more developed and matured subway systems are in operation.

• Information Systems Review
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• v.21 no.4
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• pp.175-195
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• 2019

This study conducted both big data and netnography analysis to analyze consumer needs and behaviors of online consumer community. Big data analysis is easy to identify correlations, but causality is difficult to identify. To overcome this limitation, we used netnography analysis together. The netnography methodology is excellent for context grasping. However, there is a limit in that it is time and costly to analyze a large amount of data accumulated for a long time. Therefore, in this study, we searched for patterns of overall data through big data analysis and discovered outliers that require netnography analysis, and then performed netnography analysis only before and after outliers. As a result of analysis, the cause of the phenomenon shown through big data analysis could be explained through netnography analysis. In addition, it was able to identify the internal structural changes of the community, which are not easily revealed by big data analysis. Therefore, this study was able to effectively explain much of online consumer behavior that was difficult to understand as well as contextual semantics from the unstructured data missed by big data. The big data-netnography integrated model proposed in this study can be used as a good tool to discover new consumer needs in the online environment.

• Korean Journal of Heritage: History & Science
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• v.50 no.2
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• pp.116-139
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• 2017

Naksansa Temple was famous for a miracle temple where Lee Haeng-ri(李行里), King Ikjo(翼祖), had prayed for offspring and soon begat King Dojo(度祖). According to the First King's Annals("太祖實錄"), King Dojo was the person who directly received prophecy of founding a Joseon. For these reasons, Naksansa Temple received attention concerning the foundation of Joseon. The birth story of King Dojo and his father's prayer at the Avalokitesvara Bodhisattva cave(觀音窟), Naksansa Temple, was well known among the noblemen and royal families until the Late Joseon period. Lee Seoung gye(李成桂) paid particular attention to the Naksansa Temple, and King Sejo(世祖) also made people rebuild the temple when he went for a royal tour in Gangwon-do. Naksansa Temple was built during the time when King Sejo made many temples in order to strengthen the royal authority. King Sejo made people extensively rebuild the temple, praying for health and longevity of King Yejong(his son). King Sejo's will of rebuilding the Naksansa Temple was very strong. The residents of the area had to pay a huge cost because the rebuilding of the Naksansa Temple was a big construction. Hak-yeol(學悅), who had a responsibility of rebuilding the Naksansa Temple, forcedly obtained supplies as he received protection from the royal family. Naksansa Temple thrived with the protection of the royal family after rebuilding. King Yejong and Seongjong gave Naksansa Temple slaves and fields(田地). He also bestowed upon the temple the salts which was the tribute paid by Gangwon-do. In order to protect the precincts of the Naksansa Temple, the government closed the Yang Yang Main Street near Naksansa Temple and built a new road. And the signs of preventing fishing(捕漁) was built along the coast of Naksan in four kilometers in order to keep people out. Although the Naksansa Temple declined in the late Joseon period, it still received support under the protection policy and maintained its reputation as an original Buddhist shrine.