• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.6
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• pp.117-128
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• 2014

This is the case study of SATREC INITIATIVE company which is the unique domestic production of commercial satellites. We examined the path and pattern for accumulation of technological capability and technology learning process. This case study show that the process of technological innovation and their influencing factors. First, the technological learning of the satellite industry follows the stage of technological acquisition, absorption, improvement and is embodied by the technological capability. Second, accumulated technological capability of the satellite industry influences the technology innovation. Third, the top management team(TMT) affects the technological learning and technological capability. Fourth, TMT has a moderating role between the technological capability and the performance of technological innovation. Finally, technological innovations in the small and venture business would be the source of technological capability and technological learning. The implications of this study are as follows. TMT has the very important role for the technological innovation and affect the technology development and the production. Also technology-based companies must gain a competitiveness advantage through technological learning and technological innovations for sustainable growth.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.4
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• pp.227-236
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• 2016

The competition among insurance companies has become increasingly intense driven by the recent changes in financial environment. In this study, we (i) categorize the quality of life insurance services into the core service, relational services, and additional services, (ii) assess the impact of each service on repurchase intension, and (iii) investigate if customer satisfaction has a mediating effect. The research subjects are 215 life insurance customers who were selected from an online survey respondent population. Based on the analysis we performed by utilizing the SPSS 18.0, we concluded that (i) maintaining service of the core services, internal relationship of service personnel and insurance salesmen of the relational service and additional services have a positive impact on repurchase intention and (ii) In the relationships between repurchase intentions, the customer satisfaction is fully mediated by maintaining service and insurance salesman and partially mediated by additional service. The results of this study can be meaningful for both industry and academia, because these results can be utilized as useful evidence in understanding selection behavior of life insurance customers and deriving various strategies in business environment.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.11
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• pp.135-147
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• 2016

Equity-based crowdfunding combines virtual technologies with traditional investing principles. Equity-based crowdfunding is a financing method for startups and small businesses to raise small amounts of capital from a "crowd" of investors. Small businesses can raise capital, advertise product or service, and receive feedback from crowds of investors in exchange for ownership equity in their business. This study examined the operational performance of equity-based crowdfunding in Korea. Data were collected from 125 success and failure equity-based crowdfunding of 75 firms. Results were as follows: First, success firms had a clear vision than failure firms in raising equity-based crowdfunding. Second, success firms had success experiences than failure firms in raising equity-based crowdfunding. Third, success firms had patents to technologies or products that are practical and that customers need. Fourth, success firms had three or more year long-term objectives than failure firms in raising equity-based crowdfunding. Finally, implications of the results were discussed.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.2
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• pp.91-99
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• 2012

The political conflicts and military collisions between the South-North Korea resulted in actions taken at 1 of Dec. in 2008 and 24 May in 2010. Those actions stopped the major economic cooperations such as the relink of a railroad line across the divided peninsula as well as Mt. Geumgang tourist trade, and cast shade on the Gaesung Industrial Complex. This article articulates the current situation of the economic damages, status quo of cooperation and the South Koreans' changed way of thinking about issues between the South and North which provoked by the conflicts. We emphasized the necessities of minimizing unstable non-economic factors on the Peninsula; continuing win-win economic cooperation between the South-and North corporations; guaranteeing safe business conditions; improving the relationship based on the national consensus. Also we suggested ideas on how to manage the economic cooperation and how to explore new business opportunities in the future based on entrepreneurial leadership.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.5
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• pp.67-75
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• 2016

The financial difficulties which North Korean refugees encounter during the process of transition into South Korean society is due to their low income and insufficient expertise. Hence this research was conducted for the purpose of improving the policy and system to support North Korean refugees' starting of businesses. As a result, the self-efficacy, which is one of the individual characteristics, influences the motivation for starting business. In addition, it has been revealed that the motives and education on starting business also influence the motivation for starting business. By observing regulation effect of social adaptation, it has been found out that the interaction between the personal characteristics such as risk-taking attribute and the previous experience of starting business, along with interaction effect on social adaptation and motives and social adaptation, is statically influencing as well. On the basis of results, to efficiently support North Korean refugees' starting business, it is necessary to conduct education on starting business to boost their self-efficacy and the support must be executed based on their levels of motives, risk-taking attribute and social adaptation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.5 no.2
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• pp.59-88
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• 2010

The National Research and Development(R&D) has put a greater emphasis on development of a market- and customer-oriented technology and its commercialization in the market. To promote commercialization of technologies invented through the national R&D, many governmental and public organizations have been offering various assistance programs. In spite of these assistance programs, the commercialization rate of the Korean national R&D outcomes is relatively lower than other advanced countries including the United States and European countries. Thus, this paper analyzed 24 R&D commercialization assistance programs which are provided by several institutions in the four different nations. As a result of analysis, we recommended the areas for improvement in the Korean R&D commercialization assistance programs. Also we suggested a framework driving an effective collaboration among the institutions assisting commercialization, the institutions funding and managing R&D, and the people performing R&D.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.2
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• pp.71-80
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• 2014

Standard Industrial classification is a key factor of technology spillover effect. It is the result of the empirical study that is the IC(industrial classification) which influences the technology spillover effect by way of interaction term, or moderating effect combing independent variables and moderators. As relatively high technology industry is more important than the low counterpart in R&D management system. And the result of the study says that Government should support SME's considering the IC moderating effect and different subsidies which is appropriated to the SME's IC(industrial classification). This way of Government subsidy will improve the efficiency of industrial policy effect of SME's.

• Information Systems Review
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• v.14 no.2
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• pp.93-102
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• 2012

Network brings new values to the business in rapid changes of business paradigm. While business reveals new business model, the business has kept making efforts to replace traditional business model to network environment in order to solve the problems of spaces and times. In this research, we emphasize necessity through case study that the traditional concept of customer should be related with the concept of business network. The finding of this research mainly focused on business, tries to use traits of network without changes of business model, is easy to trap in structural inertia. However, the targeted companies in the case study preferentially considered customer as subscriber. Consequently, they successfully changed their existing business model as well as their business relationships with other companies. Based on methods of "Value Curve" and "Customer Experience Cycle," we analyzed the changed business model and proposed a conceptual idea regarding concept shifting from traditional customer to network subscriber. We hope that the research implicates to propose a new method for business model to develop more advanced business opportunities through using the concept of network subscriber.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.4
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• pp.71-88
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• 2009

The Korean online gaming industry has seen rapid growth since the boom of information technology (IT) related industries, especially Internet and PC-bang or local area network (LAN) use, throughout the country. Online games are real-time games in which two or more players meet, compete, and cooperate in the same game space using the same communication network. Even though the growth rates of IT-related industries have recently slowed, the growth of the online gaming industry has increased, and Korean firms are expanding their businesses to countries all over the world. However, the online gaming industry is becoming an oligopoly, in which 4-5 leading companies occupy most online gaming markets. This situation presents a disadvantage to the Korean online gaming industry, since online players usually seek a diversity of online gaming contents and high quality online game services. Therefore, small- and medium-sized game developers must survive in this market by upgrading the quality of their online gaming services in an effort to provide differentiated goods and services in monopolistic competition markets. However, most venture companies in the online game industry, whether new or previously existing, are not able to obtain adequate financing. The objective of this paper is to examine the management environment for medium- and small-sized game developers in the Korean online gaming industry. By introducing the case of Grigon Entertainment, we try to identify the source of difficulty obtaining external financing for Korean venture firms in the online gaming industry.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.6
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• pp.107-119
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• 2015

Recently, middle and low social class entered in the upper class for the specific reasons and joined reference group in order to present demonstration effect. This phenomenon was assumed the consumer's desire for housing estate not from the leisure class. The superiority which feels belong to reference group, that was able to purchase high price product and the competence which can afford a high price goods are effective in housing estate. The study had been researched for Veblen effect according to residence estate. The partial least squares path modeling was used for Veblen effect affected by various psychological attributes, housing patterns and demographics for analysis. As a result, the conspicuous consumption from tenants was higher than residents, the social face sensitivity affected positively for self esteem and housing pattern, therefore, it caused conspicuous consumption. Moreover, we found conspicuous consumption had been increased followed by more spacious housing and higher income.