• Journal of Venture Innovation
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• v.5 no.4
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• pp.157-178
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• 2022

The economy has deteriorated worldwide due to COVID-19, and the domestic economy has also been hit hard. Accordingly, the government implemented unprecedented financial support policies related to COVID-19 to solve the financial difficulties experienced by SMEs. In addition, as the spread of COVID-19 continued, the government implemented guidelines and measures along with recommendations for non-face-to-face contact. Organizations in the public and private sectors have introduced non-face-to-face work methods. Considering this situation, this study investigated the impact of COVID-19-related financial support policies on technological innovation of SMEs. External support is important for corporate innovation, but internal capabilities are also important. Therefore, the effect of entrepreneurship on product innovation was identified. In addition, as the non-face-to-face work method was activated, the effect of smart work was identified by comparing companies that introduced smart work and companies that did not. As a result of the analysis, entrepreneurship showed a positive (+) effect regardless of the introduction of smart work. Financial support policies related to COVID-19 were found to show mixed results according to the type of support.

• Agribusiness and Information Management
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• v.12 no.1
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• pp.6-16
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• 2020

This is a summary of a comparative study of the national policies to foster the agri-food industry implemented by the leading countries of the industry before and after the COVID-19-induced global economic crisis. By comparing the policies of each country, we discovered that key leading countries of the agri-food industry had given up or suspended one-on-one, face-to-face support programs that they had maintained for years, and have started providing financial assistance to companies or self-employed people in relative industries. Korea should implement such decisive policies for the Korean agri-food industry to tackle this unprecedented economic shrink and maintain the competitiveness of the industry. Considering the scale and speed of the spreading of the pandemic, the new policies should be implemented swiftly and boldly. This study can be used as a base material for developing new policies to minimize damage to the agri-food industry and national economy caused by COVID-19.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.6
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• pp.69-79
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• 2022

The purpose of the study is to look into the likelihood of private sector enterprises going bankrupt due to COVID-19 pandemic-related issues. The data for this study was taken from the World Bank's Enterprise Survey, which was intended to assess the impact of the COVID-19 pandemic on the business sector. This study uses the Ordinal Logit Method to analyze the model with dependent variables having ordinal values. The determinants reflect business performance, innovation, business relationships, and government support. According to the estimation results, a lower probability of business closures, illiquidity, and payment delays are found in businesses that maintain sales growth, operating hours, temporary workers, product portfolio, consumer demand, and input supply. Meanwhile, the increase in online business activities and receiving support from financial institutions and the government do not help businesses reduce the risk. Moreover, higher survival is found in manufacturing and developing countries. This implies the fragility of businesses in the retail and service sectors, especially for mega-enterprises in developed countries. In addition, the negative impact of the COVID-19 pandemic on businesses in Europe and West Asia is less severe than in other regions. The results imply policies to support the private sector during the pandemic, such as increasing labor market flexibility or rapidly implementing supportive policies.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.369-376
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• 2020

Credit capital from customers' savings deposit (CSD) of banks has an important meaning in the business activities of the banking industry. There are many factors that influence the CSD satisfaction with banks. Certain changes have been made when there are fluctuations due to COVID-19. The article is based on an analysis assessing the factors that influence the CSD satisfaction of Vietnamese commercial banks in the context of COVID-19. The authors use a sample of 1,639 CSD. The results show that there are three variables that positively affect CSD satisfaction, including legal provisions of the Central bank (Legal), policies and mechanisms of commercial banks (Policy), and products of commercial banks (Product). Accordingly, in order to contribute to strengthening this capital mobilization of savings deposit, the Central bank of Vietnam needs to play a pivotal role in the regulations of the banking system to ensure its stability; control well monetary policy, interest rates, and inflation to keep a stable position in the economy; and provide timely financial support packages to enhance the confidence of CSD. Moreover, Vietnamese commercial banks need flexible policies and mechanisms to stimulate CSD; strengthen support on deposit rates for CSD; and diversify products to easily adapt to each CSD's situation.

• The Journal of the Convergence on Culture Technology
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• v.6 no.4
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• pp.567-573
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• 2020

The COVID-19 outbreak had a substantial impact on our lives. Social distancing policies are especially causing severe concern for the cultural and creative industries across the globe. Most performing arts festivals and other venues are being canceled due to COVID-19 fears and social distancing measures. Instead, many individual artists and organizations attempt to deliver their arts online using ICT and live streaming. The actions of the Government in responding to the COVID-19 crisis also provide financial support toward freelance artists and creators, and company. Finally, future directions and areas that need further support are described.

• Journal of the Korea Convergence Society
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• v.13 no.5
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• pp.531-539
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• 2022

The government enforced policies such as social distancing and limiting business hours to prevent the spread of COVID-19. However, the impact of the long-term COVID-19 pandemic is causing more serious difficulties for small business owners. The government intended to relieve the business management pressure for small business owners by drawing up the COVID-19 emergency disaster relief funds. The funds provided temporary support for the small business owners, but the prolonged pandemic worsened the business management difficulties. Therefore, this study will apply fixes that fail and shifting the burden archetypes from the system archetype of system thinking for the exploratory deduction of policy measures as the policy leverage to effectively enhance the recovery of small business owners. In response to the situation, emergency financial aid for small business owners and support that can enhance the self-sustaining powers are required to heighten the recovery of small business owners.

• Journal of Industrial Convergence
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• v.22 no.6
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• pp.51-59
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• 2024

The purpose of the paper is to suggest government policies that are practically helpful to small business owners in pandemic situations such as COVID-19. To this end, keyword frequency analysis and word cloud analysis of text mining analysis were performed by crawling news articles centered on the keywords "COVID-19 Support for Small Businesses", "The Impact of Small Businesses by Response System to COVID-19 Infectious Diseases", and "COVID-19 Small Business Economic Policy", and major issues were identified through LDA topic modeling analysis. As a result of conducting LDA topic modeling, the support policy for small business owners formed a topic label with government cash and financial support, and the impact of small business owners according to the COVID-19 infectious disease response system formed a topic label with a government-led quarantine system and an individual-led quarantine system, and the COVID-19 economic policy formed a topic label with a policy for small business owners to acquire economic crisis and self-sustainability. Focusing on the organized topic label, it was intended to provide basic data for small business owners to understand the damage reduction policy for small business owners and the policy for enhancing market competitiveness in the future pandemic situation.

• Journal of Digital Convergence
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• v.20 no.3
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• pp.145-155
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• 2022

North Korean defectors are experiencing economic hardship due to the prolonged COVID-19 outbreak. In order to solve this problem, interest in starting a business is increasing. This study targeted the current and previous government, and discovered major topics through text mining of news data on North Korean defector starting a business to examine the start-up support policies according to the keynote of the present regime. Additionally, key factors for successful start-ups were derived through interviews with North Korean defectors who have done them. As a result of the analysis, it is necessary to focus on women and the youth, and to actively expand specialized entrepreneurship education and financial support for North Korean defectors. In addition, it was confirmed that there is a need for a practical and continuous entrepreneurship education program.

• Knowledge Management Research
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• v.22 no.4
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• pp.157-172
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• 2021

Information security companies were established in earnest from the mid-late 1990s to early 2000s, far shorter than other national key industries. Nevertheless, the information security industry has made rapid progress. It is expected that the proportion of the information security industry will increase rapidly with the development of advanced technology along with the 4th industrial revolution. As COVID-19, which occurred at the end of 2019, spreads around the world in 2020, non-face-to-face services and digital transformation are accelerating, and cyber threats to users are also increasing. However, there are limitations in responding to new Cyber Security threats due to the shortage of information protection manpower, insufficient security capabilities of domestic companies, and the narrow domestic information protection market. This study examines the external environmental factors of information security companies such as government information protection system operation, government influence, government support, partnership between information security companies, and internal environmental factors such as top management support, financial status, human resources, organizational capability, This study was conducted using empirical data to analyze whether it affects innovation capability and whether organizational capability and innovation capability affect financial and non-financial performance. The results of this study can be used as basic data to suggest policies and implications for information security, and to strengthen the competitiveness of the information security industry.

• The Journal of the Convergence on Culture Technology
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• v.9 no.2
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• pp.119-126
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• 2023

Due to the COVID-19 phenomenon, more than one-third of SMEs in Korea have been working from home. Therefore, we tried to find out the management status of SMEs and find policy support. The survey data was based on the Bank of Korea's corporate management analysis 2021 data. As a result of the study, the debt of SMEs increased from 362 trillion won(2019) to 409 trillion won(2022), while their capital decreased from 489 trillion won(2019) to 336 trillion won(2022). Net profit and loss increased to 14.9 trillion won(2019) and 23.3 trillion won(2021). As a result of the company's financial soundness analysis, First, for stability, the current ratio was high compared to the total industry and the dependence on borrowings was high. Second, profitability improved from 3.20%(2019) to 4.28%(2021), but it was lower than 5.01%(2021) for all industries. Third, the growth rate showed an increase of 12.43%, which is 1.57 times faster than the total asset growth rate of 7.94%(2021) for all industries. As for the growth rate of sales, all industries(2021) showed (-)growth, while SMEs among manufacturing industries showed a growth rate of 14.78%. Fourth, as for activity, the total asset turnover ratio was higher at 0.96% compared to 0.73 for all industries. In conclusion, stability and profitability were low and growth potential was high compared to all industries. In the future, policies that focus on industries with high growth potential are needed.