• Journal of Venture Innovation
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• v.1 no.1
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• pp.15-27
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• 2018

Interest in Fintech is extremely growing as O2O which means the binding of online and offline appears. The scale of private consumption in South korea reached about 700 trillion won, however, the online trading is only about 60 trillion won, which means 640 trillion won is still trading in offline. The reason the Fintech industry comes into the spotlight is because the foundation of related industries such as the rise of mobile traffic and the fast growth of the financial transaction through the mobile channel is forming. Especially, the introduction of payment systems among these Fintech industries offers convenience to the consumer. Mobile payment has been generalized in daily life such as utility bills and taxi fares. Use of O2O service in various industrial fields in commerce gives convenience to consumers and increase in sales to business in recent commercial transaction which is moving to on-demand channel services. People in smartphone life are supposed to find more convenient services for saving time using their phone, and this kind of environment makes the ordering goods and services through Fintech payments increase. The emergence of O2O services influences the development of Fintech industry and the emergence of convenient and reliable Fintech service through the deregulation of Fintech also affects the activation of O2O services. The complementary relationships between O2O services and Fintech would contribute to economic activation. From the standpoint of the researchers, I would like to further study the methods that can lead to a new paradigm of the financial payments industry through the development of Fintech and the drafts for the market expansion of the current offline commerce making it online in the advent of O2O services in variety industries.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.3
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• pp.85-98
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• 2018

This study aims to investigate the effects of venture & inno-biz companies' technological innovation competences on technological performances and economic competitive advantage, using VRIO framework. The empirical data for this study were based on the technology assessment results of Korea Technology Finance Corporation (KOTEC) on 3,462 venture & inno-biz companies and the following 2 years' financial data. Sample companies with technological innovation resources, such as technology management strategy(Value), differentiation of technology(Rarity), imitation difficulty of technology(Imitability) and technical organization capability(Organization), made efforts to expand their intellectual property rights, technological development and commercialization of new products, thereby ensuring technological competitive advantage. Furthermore, technological competitive advantage were proved to improve sales growth, increase in operating revenue, and financial soundness. Compared with four VRIO factors' influence on business performance, imitation difficulty of technology(Imitability) and organization technological capability(Organization) had much more influence than any other internal resources or capabilities respectively.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.1
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• pp.133-144
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• 2017

This study investigates firm-specific financial variables that determine investment or speculative grades from the viewpoint of firms, which are one of the major stakeholders related to the credit rating. We employ an ordered probit model for our analysis with the sample data from 1999 to 2015 for listed firms in the Korean stock markets. For investment grades, operating margin, sales, market-to-book, dividend payment, capital expenditure ratio, and tangible asset ratio have a significantly positive impact on credit ratings. In the subsample for speculative grades, the coefficients of the dividend payment, retained earnings ratio, and capital expenditure ratio are significantly positive while short-term debt ratio and R&D expenditures have a significantly negative impact on credit ratings. For the analysis before and after 2009, when the Credit Information Use and Protection Act was strengthened after the global financial crisis, the coefficients of the capital expenditure ratio, cash ratio, and tangible asset ratio are significantly positive in the subsample for investment grades before 2009, but not significant after 2010. The coefficient of the long-term debt ratio is more significantly negative than that of the short-term debt ratio before 2009, for speculative grades, but short-term debt ratio has a more negative effect on ratings than long-term debt ratio after 2010. Surprisingly, the coefficient of the R&D expenditures is significantly negative in both investment and speculative grades since 2010. Our findings are inconsistent with the conjecture that the increase in R&D expenditures enhances the possibility of creating cash-flow by raising the investment growth opportunity, and thus affects positively the credit rating.

• KIPS Transactions on Computer and Communication Systems
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• v.6 no.10
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• pp.421-428
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• 2017

The need for various approaches to non-face-to-face identification technology for registering and authenticating users online is being required because of the growth of online financial services and the rapid development of financial technology. In general, non-face-to-face approaches can be exposed to a greater number of threats than face-to-face approaches. Therefore, identification policies and technologies to verify users by using various factors and channels are being studied in order to complement the risks and to be more reliable non-face-to-face identification methods. One of these new approaches is to collect and verify a large number of personal information of user. Therefore, we propose a big-data based non-face-to-face Identity Proofing method that verifies identity on online based on various and large amount of information of user. The proposed method also provides an identification information management scheme that collects and verifies only the user information required for the identity verification level required by the service. In addition, we propose an identity information sharing model that can provide the information to other service providers so that user can reuse verified identity information. Finally, we prove by implementing a system that verifies and manages only the identity assurance level required by the service through the enhanced user verification in the non-face-to-face identity proofing process.

• Journal of Digital Convergence
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• v.16 no.4
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• pp.11-22
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• 2018

The Social Economy including social enterprise is solving various social problems of our society by innovative business Nevertheless, social economic companies have limited investment ingrowth due to insufficient capital. There are various attempts to solve the limit of capital investment by social finance. Social iImpact bonds that introduced performance-based compensation into financial system is recognized as a new means of procuring that capital lacks. 89 social impact bonds were issued in 19 countries around the world. )f the 22 social impact bonds reporting performance, 21 bonds report positive performance. The twelve bonds paid incentives to investors. It can be said that the government provides incentives to review the issuance of social impact bonds at the government level, which is difficult to expand the social welfare budget. This study confirmed the performance of the social impact bonds and confirmed the possibility of introducing it in korea. There is a limit to continuously increasing the government's social expenditure to meet demand. Therefore, in order to support the growth of social economy based on private investment, the issuing of social impact bonds should create a virtuous circle of social financial market.

• Journal of the Economic Geographical Society of Korea
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• v.11 no.1
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• pp.94-110
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• 2008

This study examines the unemployment and labor market demand dynamics as well as their implication for social exclusion in the metropolitan areas of Korea since the financial crisis of 1997. The unemployment research containing significant implication for social exclusion is a key area to be explored with the research of skill and income polarization due to structural economic transformation. Skill polarization usually results in the job loss for some people, which most likely leads to the economic deprivation and social exclusion. The unemployment rate and its regional disparity began to fall since 2000, but the disparity reversed to increase after 2005. The labor market dynamics of the metropolitan areas are turned out to be related with the size of the city and the relative shares of both manufacturing and service sectors. In addition, the employment growth is turned out to be related with the changes of both output and productivity. It is also found that the unemployment is affected with the job change and the tertiarization of the economy. However, it is of more significance to recognize that the dynamics and patterns of the labor market in the metropolitan areas are quite spatially differentiated and the differentiation is likely determined by the factors such as industrial structure, employment dynamics and job demand changes.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.1
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• pp.45-57
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• 2020

Among the fintech businesses that are actively developing around the world, payment and settlement are the most prominent. Korea has a well-developed IT industry and a good existing card payment environment, however, its innovative movement is overwhelmingly slower than that of other countries in the fintech. In this study, we try to assess the regulations on fintech and their impacts on the startup ecosystem by comparing the cases of U.S., China, and Korea. We have found that both the United States and China have lowered barriers to entry for the newly launched fintech industry, allowing startups and IT companies to start fintech businesses at the existing financial sector. Particularly the implementation of predictable regulations in U.S., and the failure to apply the financial regulations in China, help start-up companies' growth in the fintech industry. This finding provides us with a lesson that current positive regulations in Korea should gradually change into negative regulations, and predictable regulations that strictly enforce post-management except major items rather than pre-approval. The policy implications are discussed with the perspective of start-ups in fintech industry.

• Journal of the Korean Society of Costume
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• v.57 no.2 s.111
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• pp.69-85
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• 2007

Despite the recovery of consumer expenditure and retailing in the Korean economy after 2001, the domestic apparel industry has been aggravated by negative growth in both productivity and production. The purpose of the stud? is to diagnose the develop competitive of the Korean apparel industry and derive implications for this after estimating the efficiency of the Korean apparel companies with Data Envelopment Analysis. Data Envelopment Analysis(DEA) is a methodology based in non-parametric analysis and linear programming. It was developed for measuring the relative efficiency of a set of firms that use inputs to produce outputs. Data used fer input and output variables in the analysis are drawn from financial statement recorded by the Korean Financial Supervisory Service. The initial input data comprise the number fo the employees, fixed assets, general management and selling expenses, and cost of sales. The initial outputs are the operating profit and the gross margin. To summary the results, the efficiencies of the Korean apparel companies has increased yearly in spite of being overabundance of investment in Labour and Capital. According to correlation between input and output variables, the Korean apparel industry has been revamping gradually from labor intensive industries to the capital. The companies need to reduce costs in the results from the number of employees, fixed asset and cost of sales to transform into an efficiently enterprise. The companies owning or obtaining a brand had bitter establish an outsourcing strategic in production, while OEM corporations are called far setting up a manufactory in domestic or abroad. Although the paper is derived some implications with production efficiencies, the relation between apparel companies and brand power, consumption level of consumer, and social trend is remained on a limitation to the study. The next research necessitates a topic with Fashion industry or examining the correlation between brand value, social propensity and profit margin.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.2
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• pp.221-232
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• 2014

Many preliminary entrepreneurs are ready to start a business in every year. However, starting and preparing business have a lot of difficulties. Entrepreneurship is the most important factor for overcoming these difficulties. But, it is not easy to understand entrepreneurship to founders despite many research scholars. In this paper, we are focused on easy understanding of entrepreneurs. Instead of vague theories, we analyzed selected two companies in Korea. From the beginning until now, these companies have founders entrepreneurship and organization entrepreneurship. we studied these entrepreneurship factors with other Various causes. Analysis of two cases is summarized into three type. First, both companies had well-founded internal network system. Trained employees in internal network were flexible to meet the market conditions. Also, network effect made that employees can offer their idea and make discussions. Second, The company quickly recognized for organizational culture despite of most other companies recent awareness. This factor was the basic driving force for solving human resource management problem of small size companies. final factor is innovation capacity of these companies. Financial difficulties experienced of establishment is common to every company. However, two companies has continued to invest research and development despite of this financial problem. As a result, intellectual property management was accepted, as well as technology development. Clearly, these three factors are consistently applied since established and led to the company's continued growth and success.

• Journal of the Korean association of regional geographers
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• v.16 no.6
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• pp.689-705
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• 2010

The purpose of this study is to examine the geographical distribution and the clustering characteristics as an industrial cluster in order to provide alternative fundamental data for the preparation of the policies to facilitate the development of the Green Energy Industry. The main source of the data in this study is the outcome of a survey conducted to the firms and environment specialist from June 21st, 2010 to July 23rd, 2010. The Green Energy related companies in Daegyeong region are clustered around Pohang and Gumi, Gyeongbuk, and Dalseo District of Daegu Metropolitan City. The core element of the sustainability of the Green Energy Industry in the region is the inducement of the large-scale corporate presence in the region as well as the technical and geographical proximity. That is, the fact that there are sister companies established by the large scale corporate Daegyeong region as they have chosen this field for their new drive for growth. The major location factors are proximity, higher quality expectations from the local demands, technical availability, and competition with other companies of the same industry in the region, rather than the availability of the raw material. And the choke points for these companies are the financial support of R&D and the policy support of specialist training. The policy to facilitate the development of the industry in question in Daegyeong region, therefore, should shift from its previous focuses on infrastructure building and taxation benefits to financial supports for the technical research, human resource development in response to the needs of the companies. Also, programs to support the proficiency training for the already-hired work forces and development of new policies for the Green Energy Industry are needed to be introduced for the development of the Green Energy Industry in Daegyeong region.