• Korea Trade Review
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• v.41 no.1
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• pp.67-90
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• 2016

This study examines whether there is any significant relation between executive compensation and future firm performance for the Korean export manufacturing small and medium-sized firms. We sorted the whole sample firms into the sub-groups of 10 deciles by firm size and the KSIC standard. We found the following empirical results. First, Korean export manufacturing small and medium-sized firms typically showed lower or even negative profitability in terms of return on equity and operating profit ratio to sales. Foreign equity ownership is very low with an average of 3.77%. Second, for the firms with higher ratio of excess executive compensation to asset had lower future firm performance. It implies that the typical owner-manager in Korean export manufacturing SMEs earns excess pay, but do not contribute much to firm performance. Third, as for future cumulative abnormal returns for future one- and three-year periods, firms with higher owner-executive pay had lower returns compared with firms with lower pay. So the stock market investors set a lower value on them. Fourth, there is a positive relation between excess executive pay and executive overconfidence, and it implies that owner-CEOs with higher pay may become overconfident, thereby lowering future firm performance somehow.

• International Commerce and Information Review
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• v.14 no.3
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• pp.113-138
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• 2012

This study examined the determinants of export performance of small and medium sized manufacturing companies in Korea. Depending on the existing research, taking entrepreneurship and product differentiation capabilities as antecedents of export performance. In addition, the product differentiation capabilities examined whether the role of the mediating effects between entrepreneurship and export performance. Thus, the purpose of the study is look at the integrated model of entrepreneurship, product differentiation capabilities and export performance building and their relationship. On 152 domestic companies, empirical analysis was performed. Empirical analysis was conducted using the PLS(Partial Least Square). And analysis tools were used SmartPLS2.0. In the results of the analysis, risk tolerance and innovativeness of small and medium sized manufacturing businesses, entrepreneurs and product differentiation competence have positive impact export performance in both. Product differentiation capabilities also confirmed that it have a positive impact on the export performance of small manufacturing export enterprises. In analysis of the mediated effect in product differentiation capacity showed a significant mediated effect between innovativeness and export performance. But mediated effects did not indicate a significant risk tolerance. these results suggests the need to actively pursue innovation that more product differentiation capabilities required in export companies to small and medium-sized manufacturing. In other words, when attempting to highlight product differentiation, based on innovation, rather than risk tolerance. In terms of analyzing the mediated role of product differentiation capabilities, this study has theoretical implications for the future research to look at the antecedents of export performance from the perspective of dynamic capabilities and competitive advantage. Also, practical implications in this regard as the innovativeness and taking risks to all important to CEO of small manufacturing enterprises but, stranger in the foreign market competition environment, the role of innovation product is required on raising product differentiation capabilities are presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.2
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• pp.1-10
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• 2015

This study examines the relationships between export intensity and knowledge search activities of Korea SME manufacturers. Using 2,145 firm data from the 2011 SME Technology Statistics Survey, we focused on the nonlinear relationships of export intensity and internal and external knowledge search activities. The results show that there are U-shaped relationships between export intensity and both of internal and external knowledge search activities. Local market-oriented or global market-oriented SMEs than the middle-level of exporters have more search activities both internally and externally. This study extends our understandings on the relationships between export intensity and knowledge search activities. There are some policy implications to develop supporting programs differing in knowledge search activities according to the acceleration of export or globalization of Korean SME manufacturers.

• 한국벤처창업학회:학술대회논문집
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• 2023.11a
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• pp.91-96
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• 2023

글로벌로 핵심기술 경쟁 및 최상의 기술을 적용한 제품 제조를 실현해야 하는 ICT 분야의 수출 제조 중소기업은 내부, 외부적인 환경적 요인뿐 아니라 다양한 위기상황을 겪게 된다. 이러한 위기상황을 극복하고자 기업 자체적인 전략을 다방면으로 모색하고 실행하여 성공한 수출 제조 중소 벤처기업인 '(주)쎄믹스'가 있다. 2000년에 설립한 (주)쎄믹스는 반도체 검사장비 중 하나인 Wafer Prober 제조 전문기업으로, 'Simple Perfection'이라는 슬로건 아래 23년간 'OPUS' 및 'OPERA'를 생산, 판매에 전념하고 있는 글로벌 강소기업이며, 지속적인 핵심기술 연구개발을 통해 품질혁신에 성공하였고 글로벌 반도체 검사장비 시장에서 기술적 신뢰와 브랜드 명성을 인정받고 있는 벤처기업이다. 현재 (주)쎄믹스의 입지를 구축하기까지 수출 제조기업으로서 겪은 환율관리 실패인 키코손실에서 기인한 회사 위기를, 자체적으로 기술혁신, 조직혁신, 핵심인재 육성 등 전략적 기업혁신에 성공하여 회사의 존폐위기였던 상황을 극복하였다. 우선 키코손실을 떨쳐내고 새로이 시작하기 위한 S사와의 합병, 분할 후 조직 내부에 기업가정신을 고취하였고 핵심기술을 발굴하여 세계일류상품 인증, 월드클래스 300 선정 및 완수, 6개국에 7개의 자회사 설립 통한 조직혁신, 과감한 인재등용, 인재육성 위한 사내 컨퍼런스 제도 도입, TRIZ 등을 통한 과감한 교육혁신, 인재를 위한 특별한 복지정책 구현 등을 실천하였다. 본 연구는 '(주)쎄믹스'의 위기극복 사례를 통해 일본의 두 곳 대기업만이 누리고 있던 Wafer Prober 장비 시장에서 독자적인 글로벌 판로개척을 통한 자생적 성장시스템 구축과 창의적이고 자기 주도적인 혁신체제를 구축하는 계기를 제공하여 다양한 위기상황에 직면하였거나 위기를 미연에 방지하여야 할 중소기업인과 임직원들에게 성공 사례를 제공하고자 하였다.

• Korea Trade Review
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• v.42 no.2
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• pp.175-203
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• 2017

This study examined the casual relationships among SMEs' market orientation, brand orientation, firm capabilities-technology and marketing capabilities, competitive advantage and financial performance in export markets based on the resource-based view. The data were collected from 286 cases of exporting SMEs. The results of path analysis indicated that market orientation of exporting SMEs increased technology and marketing capabilities. Market orientation directly increased both competitive advantage and financial performance in export markets. Brand orientation influenced technological capability and had indirect effects on both competitive advantage and financial performance through the firm capabilities. Based on the results, managerial implications and future research directions for exporting SMEs were provided.

• Korea Trade Review
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• v.43 no.3
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• pp.1-26
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• 2018

This study estimates the technical efficiency and total factor productivity(TFP) of and analyzes the relationship between TFP and exports for Korean manufacturing companies from 2000 to 2016. Specially, TFP is decomposed into Technical Change(TC), Technical Efficiency Change (TEC), and Sale Effect(SE), and compared between large and small enterprises. First, in the case of technical efficiency, the Korean economy has been very vulnerable to external shocks, such as the sharp decline following the 2008 financial crisis. The efficiency of the electronics, automobile, and machinery sectors is low and needs to be improved. In addition, the technological efficiency of large enterprises is higher than that of SMEs in most manufacturing sub-sectors except for non-ferrous metals. In the case of TFP, most changes are due to TC, and the effective combination of labor, capital and the effect of scale have little effect, suggesting that improvement of internal structure is urgent. In addition, volatility due to the impact of the financial crisis in 2008 was much larger in SMEs than in large companies, so external economic impacts are more greater for SMEs than large enterprises. The relationship between TFP decomposition factors and exports shows that TC has a positive effect only on exports of SMEs. Therefore, in order to increase exports, in the case of SMEs, R&D support to promote technological development is needed. In the case of large companies, it is necessary to establish differentiated strategies for each export market, competitor company, and item to link efficiency and scale effect of exports.

• Information and Communications Magazine
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• v.33 no.8
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• pp.3-9
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• 2016

국가경제 전반의 생산성, 기술혁신, 수출, 고용을 유지함에 있어 제조업의 역할 및 경쟁력 확보는 매우 중요하다. 제조업은 ICT 기기, 자동화기계 등을 공급함으로써 경제 전분야에 걸쳐 생산성 향상과 기술혁신을 견인하고 있다. 무역에서 가장 큰 비중을 차지하고 있는 제조업 분야는 전체 무역의 약 70%를 차지하고 있으며 제조업 경쟁력이 무역수지 흑자에 필수적이며 이를 위해서 로봇기술을 바탕으로 융합 신(新)산업을 창출하여 우리 제조업만의 경쟁우위를 확보해야 한다. 인건비 상승, 고령화 사회 진입, 중국이나 일본 등 경쟁국가 기업들의 위협으로 위기를 맞고 있는 중소제조기업들이 생산공정에 로봇도입을 통해 기업 경쟁력을 회복하는 것이 필요하다. 정부에서는 제조업의 위기 타개책으로 '스마트팩토리'를 제시하고 있다. 그러나 대부분의 중소제조기업이 아직 전산화 단계도 벗어나지 못하고 있는 현시점에서 기존 수공정에 로봇도입을 통한 제조공정의 스마트화가 우선적으로 필요하다. 본 고에서는 국내 중소제조업 현황을 알아보고 중소제조기업의 로봇도입을 통한 제조공정 스마트화에 대해 적용 사례를 중심으로 살펴보도록 한다.

• International Commerce and Information Review
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• v.10 no.4
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• pp.457-491
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• 2008

As stage equipment export markets along with special lighting service lack the attraction for already globally established businesses, such markets can be viewed as an advantageous opportunity for SMEs as in general. In reality, global businesses tend to focus on large construction projects and this indicates relatively less substantial markets such as stage equipment and special lighting service export are more suitable for SME businesses. However, possible problems may be recognized as following; doubtful capabilities by such businesses to join in the vast and competitive global market and pursue manufacturing and service based export. This point is also supported by the fact that such in general SME businesses have substantially less experience in exporting products and services abroad. Realizing the distinctive features of the Korean economy, it is unarguable that every sector and area of global market must be regarded and monitored closely. Hence, it can be argued that there is an imminent need for establishment of supportive institution to assist export process of combination of stage equipments and special lighting service. This study emphasizes the need to improve export process of stage equipments, special lighting services as well as other related products and services which have been focused in domestic market only until now. Further, it also analyzed the potential prospect of such direction reconciling current crisis our manufacturing industry is facing. Even though it maybe regarded as one of the niche market for export of Korea in the short term view, stage equipment and special lighting service industry may rapidly grow as the global cultural industries have grown along with the increase of national income earnings overall. Due to such advantageous features, it can be expected that such industries will show strong growth in the near future. After analyzing the fact that Korea's plants (eg. powerplants) export sector is at its boom, there is a need to transform stage equipment and special lighting service export market into a primary market from a secondary(niche) market for SMEs. This study is viewed from the Korean economic and export sector aspect in the aim of seeking a solution to conquest our realistic limit in our export sector by developing a suitable export model. There have been cases of very few attempts to expand abroad by SMEs who have failed miserably due to their failure to adapt to foreign culture, practice and languages as well as substantial lack in experience in export marketing. Despite this, neglecting our manufacturing industry as it is which is showing its limit and problems is out of option therefore, it is imminent that we come up with an effective measure to address this problem and service export can be suggested as one of them. This study reveals manufacturing-service export model of stage equipment and special lighting service and its related areas is recognized as a field with a very strong future and furthermore, it is expected to bring synergy effects in manufacturing and services sector as well. Further, the operation strategy contains combination, composition and fusion(convergence) of manufacturing and service sectors which could derive various of export products which displays greater success probability or this export model. The outcome of this research is expected to become a useful source for enterprises related to such industry which are seeking a possible global expansion. Furthermore, it is also expected to become a catalyst which fastens the process of global expansion and not only that, we are firmly assured that this study will become an opportunity to improve our current policies and institutions related to this area's export market.

• Korea Trade Review
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• v.41 no.4
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• pp.61-90
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• 2016

This study aims to identify the sources of productivity change in export manufacturing firms. After estimating the Malmquist productivity index, a panel regression was used to calculate the source of productivity change. Upon conducting a literature review of this field, six variables were selected as explanatory variables. The results of an analysis of 355 export manufacturing firms operating from 2009 through 2015 are as follows: First, both innovation activity and total assets had a positive impact on productivity change. However, employment cost intensity, equity ratio, and current ratio had a negative impact on productivity change in export manufacturing firms. Second, innovation activity and intangible assets had a positive impact on productivity change, but employment cost intensity, selling expense intensity, and equity ratio had a negative impact on productivity change in large export manufacturing firms. Third, innovation activity had a positive impact on productivity change, but employment cost intensity and equity ratio had a negative impact on productivity change in small and medium export manufacturing firms. Fourth, intangible assets had a positive impact on productivity change, but employment cost intensity, selling expense intensity, and current ratio had a negative impact on productivity change in export manufacturing firms listed on the Korea Composite Stock Price Index. Fifth, innovation activity and total assets had a positive impact on productivity change, but employment cost intensity and equity ratio had a negative impact on productivity change in manufacturing firms listed on the Korean Securities Dealers Automated Quotations. The managerial implications of this study are also discussed.

• 동물약계
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• no.100
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• pp.3-6
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• 2005

[ $\cdot$ ]동물용의약품 관련 법령 개정 수요조사 $\cdot$수출전시회 전략협의회 개최 $\cdot$중소기업 현장체험단 운영 $\cdot$소 부루세라병 방역보완 대책 추진 $\cdot$동물용의약품 산업현황 조사 $\cdot$동물약사감시 행정처분 결과 홍보 $\cdot$통관 단일창구 구축방안 검토 연찬회 참석 $\cdot$제4차 이사회 개최 $\cdot$수출전시회 잔략협의회 개최 $\cdot$제1차 백신제조특별소위원회 개최 $\cdot$제1차 수입백신특별소위원회 개최 $\cdot$동물약품 마케팅 교육 실시 $\cdot$백신제조특별소위원회 실무위원회 개최 $\cdot$생물학적제제 자가 품질검사 관련 건의 $\cdot$법제윤리위원회 개최 $\cdot$제2차 백신제조특별소위원회 개최 $\cdot$동물약품 GMP 실무교육 실시 $\cdot$수입 생물학적제제 국가검정 면제 건의 $\cdot$수출촉진단 회의 개최 $\cdot$조합 2005년도 알선품목 선정 $\cdot$VIV ASIA 2005 전시회 참가 결과 $\cdot$ VIV ASIA 2005 - Daily statistics report