• International Area Studies Review
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• v.20 no.2
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• pp.25-46
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• 2016

In order to newly expand and define the concept of "strategic servitization" based on Industry 4.0, this study tried to evaluate the existing status of domestic and foreign servitized manufacturing and investigated the servitization cases of some leading overseas companies. In addition, we chose 250 samples of manufacturing firms listed on KOSDAQ and collected a vast amount of data regarding servitized manufacturing, such as the current status about new businesses, profit model, and financial fluctuations of each company. Based on these data, we classified the main types of manufacturing-service convergence into a $2{\times}2$ framework and derived a new strategic servitization model for each type of signature. Furthermore, we divided the sample corporations into three groups, which are pure manufacturer, servitized firm, and strategic servitized firm, and through the mutual comparison of the real sales amounts and the estimated sales amounts by time-series extrapolation analysis, we statistically proved that the service sales of strategic servitized firms give positive impacts on ROA when compared with those of the other two groups. Finally, we selected 12 leading domestic strategic-servitized firms, interviewed them in depth, and not only organized the issues during this process and their solutions by categories but also suggested the policy demands for strategic servitization.

• Journal of Korea Technology Innovation Society
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• v.21 no.3
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• pp.1155-1178
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• 2018

Future automobiles are evolving into movable living spaces capable of eco-friendly autonomous driving. The role of electrically processing, controlling, and commanding various information in the vehicle is essential. It is expected that the automotive semiconductor will play a key role in the future automobile such as self-driving and eco-friendly automobile. In order to foster the automotive semiconductor industry, it is necessary to grasp technology trends and to acquire technology and quality that reflects the requirements in advance, thereby achieving technological innovation with industrial competitiveness. However, there is a lack of systematic analysis of technology trends to date. In this study, we analyzed the technology trends of automotive semiconductors using patent analysis and topic model, and confirmed technologies such as electric cars, driving assistance, and digital manufacturing. The technology trends showed that element technology and technical characteristics change according to technology convergence, market needs, and government regulations. Through this research, it is expected that it will help to make R&D policy for automotive semiconductor industry and to make decision for industrial technology strategy establishment. In addition, it is expected that it will be used effectively in detail research direction and patent strategy establishment by providing detailed classification of technology and trend analysis result of technology.

• The Journal of Society for e-Business Studies
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• v.24 no.3
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• pp.35-51
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• 2019

The two main goals of this study are to derive independent factors affecting the success rate of crowdfunding and to empirically analyze the variation of independent factors' effects on the success of crowdfunding by industry (Internet, culture/art, manufacturing/distribution), and funding type (stock type, bond type). To identify the success factors of crowdfunding for invigoration and strategic utilization, first, several variables were refined after interviews with experts and platform operators with investment experiences in numerous crowdfunding projects. Then, independent factors affecting project involvement were categorized as follows: a characteristic of project, participant activity, and enterprise. Also, the results derived from the influence of independent variables on crowdfunding after moderating effects were driven. Selected independent factors in this study are as follows: crowdfunding period, target amount, visual contents, minimum account money, number of comments, number of SNS followers, level of interest, financial Statement disclosure, investment attraction, venture company, intellectual property rights disclosure, and business operation period. Selected moderating factors in this study are as follows: industry (Internet, culture/art, manufacturing/distribution), and funding type (stock type, bond type). In conclusion, a discussion of the academical and practical implications and a suggestion of directions for further research are explained.

• Journal of Korea Entertainment Industry Association
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• v.15 no.1
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• pp.143-152
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• 2021

The extremely isolated uninhabited island at the end of the West Sea in South Korea called "The Gyeokryeolbi Yeoldo" has recently begun to be managed by the government under the influence of public opinion demanding the island to be strictly protected. The island was created 70 million years ago by volcanic activities. So it is older than the birth history of Jeju Island, which is estimated to have been born about a million years ago. This study has focused on providing the basis for imagetelling and storytelling of the Gyeokryeolbi Yeoldo, known for its important value by exploring the cultural resources of the island. For the research, the ethnography including in-depth local interview and on-site investigation have been applied for 3 years from February 2018 to December 2020 in Taean, Chungnam Province, where the island is located. To analyze the cultural resources of this island, the resource classification model has been designed and used, which is modified from Valentine (2001) and Chi-ho Nam (2007). As a result, the "tangible cultural resources (TCR)" including various remains found on the island were mainly symbols of cultural bridge in the history of Korea-China exchange, and the spiritual land of life-saving. Also "intangible cultural resources (ICR)" extracted from the island were focused on the images of life protection, safety, bravery, and romance. Based on this study, the core concept of identity to be applied when refurbishing the island with a prominent cultural placeness( "sense of place") can be proposed as "a cultural ecological island centered on the Circular Yellow Sea that ruminates memories of love."

• Korean small business review
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• v.43 no.4
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• pp.95-115
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• 2021

Quality is an important factor influencing organizational performance, so it should be possible to accurately and effectively measure the quality perceived by members. The Consumer Cooperative can be seen as a retail industry by industry classification, and there are various studies based on the dimension of retail quality, but compared to the general retail industry, few studies have been conducted based on the quality level perceived by members. The purpose of this study is to develop quality dimensions and sub-attributes by analyzing in detail and elaborately how the quality of cooperative is viewed from the perspective of members who are both consumers and owners. To this end, the quality dimension of cooperative quality is needed to be newly developed and quality components are demonstrated based on previous studies on the quality dimension. The quality dimension of the cooperative was developed through prior research to suit the value of the cooperative in product, service, and social responsibility, and a survey was conducted to demonstrate the four major cooperative members in Korea. Through this, sub-dimensions were constructed and the quality dimension of the high-order model was demonstrated through exploratory factor analysis and confirmatory factor analysis. It aims to discover key management elements in terms of quality management and provide practical implications to management.

• Journal of Intelligence and Information Systems
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• v.23 no.1
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• pp.23-46
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• 2017

Although there have been cases of evaluating the value of specific companies or projects which have centralized on developed countries in North America and Europe from the early 2000s, the system and methodology for estimating the economic value of individual technologies or patents has been activated on and on. Of course, there exist several online systems that qualitatively evaluate the technology's grade or the patent rating of the technology to be evaluated, as in 'KTRS' of the KIBO and 'SMART 3.1' of the Korea Invention Promotion Association. However, a web-based technology valuation system, referred to as 'STAR-Value system' that calculates the quantitative values of the subject technology for various purposes such as business feasibility analysis, investment attraction, tax/litigation, etc., has been officially opened and recently spreading. In this study, we introduce the type of methodology and evaluation model, reference information supporting these theories, and how database associated are utilized, focusing various modules and frameworks embedded in STAR-Value system. In particular, there are six valuation methods, including the discounted cash flow method (DCF), which is a representative one based on the income approach that anticipates future economic income to be valued at present, and the relief-from-royalty method, which calculates the present value of royalties' where we consider the contribution of the subject technology towards the business value created as the royalty rate. We look at how models and related support information (technology life, corporate (business) financial information, discount rate, industrial technology factors, etc.) can be used and linked in a intelligent manner. Based on the classification of information such as International Patent Classification (IPC) or Korea Standard Industry Classification (KSIC) for technology to be evaluated, the STAR-Value system automatically returns meta data such as technology cycle time (TCT), sales growth rate and profitability data of similar company or industry sector, weighted average cost of capital (WACC), indices of industrial technology factors, etc., and apply adjustment factors to them, so that the result of technology value calculation has high reliability and objectivity. Furthermore, if the information on the potential market size of the target technology and the market share of the commercialization subject refers to data-driven information, or if the estimated value range of similar technologies by industry sector is provided from the evaluation cases which are already completed and accumulated in database, the STAR-Value is anticipated that it will enable to present highly accurate value range in real time by intelligently linking various support modules. Including the explanation of the various valuation models and relevant primary variables as presented in this paper, the STAR-Value system intends to utilize more systematically and in a data-driven way by supporting the optimal model selection guideline module, intelligent technology value range reasoning module, and similar company selection based market share prediction module, etc. In addition, the research on the development and intelligence of the web-based STAR-Value system is significant in that it widely spread the web-based system that can be used in the validation and application to practices of the theoretical feasibility of the technology valuation field, and it is expected that it could be utilized in various fields of technology commercialization.

• Journal of Intelligence and Information Systems
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• v.23 no.1
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• pp.1-22
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• 2017

Analysis of future business or investment opportunities, such as business feasibility analysis and company or technology valuation, necessitate objective estimation on the relevant market and expected sales. While there are various ways to classify the estimation methods of these new sales or market size, they can be broadly divided into top-down and bottom-up approaches by benchmark references. Both methods, however, require a lot of resources and time. Therefore, we propose a data-based intelligent demand forecasting system to support evaluation of new business. This study focuses on analogical forecasting, one of the traditional quantitative forecasting methods, to develop sales forecasting intelligence systems for new businesses. Instead of simply estimating sales for a few years, we hereby propose a method of estimating the sales of new businesses by using the initial sales and the sales growth rate of similar companies. To demonstrate the appropriateness of this method, it is examined whether the sales performance of recently established companies in the same industry category in Korea can be utilized as a reference variable for the analogical forecasting. In this study, we examined whether the phenomenon of "mean reversion" was observed in the sales of start-up companies in order to identify errors in estimating sales of new businesses based on industry sales growth rate and whether the differences in business environment resulting from the different timing of business launch affects growth rate. We also conducted analyses of variance (ANOVA) and latent growth model (LGM) to identify differences in sales growth rates by industry category. Based on the results, we proposed industry-specific range and linear forecasting models. This study analyzed the sales of only 150,000 start-up companies in Korea in the last 10 years, and identified that the average growth rate of start-ups in Korea is higher than the industry average in the first few years, but it shortly shows the phenomenon of mean-reversion. In addition, although the start-up founding juncture affects the sales growth rate, it is not high significantly and the sales growth rate can be different according to the industry classification. Utilizing both this phenomenon and the performance of start-up companies in relevant industries, we have proposed two models of new business sales based on the sales growth rate. The method proposed in this study makes it possible to objectively and quickly estimate the sales of new business by industry, and it is expected to provide reference information to judge whether sales estimated by other methods (top-down/bottom-up approach) pass the bounds from ordinary cases in relevant industry. In particular, the results of this study can be practically used as useful reference information for business feasibility analysis or technical valuation for entering new business. When using the existing top-down method, it can be used to set the range of market size or market share. As well, when using the bottom-up method, the estimation period may be set in accordance of the mean reverting period information for the growth rate. The two models proposed in this study will enable rapid and objective sales estimation of new businesses, and are expected to improve the efficiency of business feasibility analysis and technology valuation process by developing intelligent information system. In academic perspectives, it is a very important discovery that the phenomenon of 'mean reversion' is found among start-up companies out of general small-and-medium enterprises (SMEs) as well as stable companies such as listed companies. In particular, there exists the significance of this study in that over the large-scale data the mean reverting phenomenon of the start-up firms' sales growth rate is different from that of the listed companies, and that there is a difference in each industry. If a linear model, which is useful for estimating the sales of a specific company, is highly likely to be utilized in practical aspects, it can be explained that the range model, which can be used for the estimation method of the sales of the unspecified firms, is highly likely to be used in political aspects. It implies that when analyzing the business activities and performance of a specific industry group or enterprise group there is political usability in that the range model enables to provide references and compare them by data based start-up sales forecasting system.

• Transactions of the Korean Society for Noise and Vibration Engineering
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• v.21 no.12
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• pp.1166-1176
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• 2011

The prospect in opening the arctic trade transportation route on a year-round basis offers vast opportunity of exploring untapped resources and shortened navigational routes. In addition, the environment's remoteness and lack of technical experiences remains a big challenge for the maritime industry. With this, engine designers and makers are continually investigating, specifically optimizing propulsion shafting system design, to meet the environmental and technical challenges of the region. The International Association of Classification Society, specifically machinery requirements for polar class ships(IACS UR13), embodies the propulsion shafting design requirements for ice class vessels. However, the necessity to upgrade the various features of the unified rules in meeting current polar requirements is acknowledged by IACS and other classification societies. For the polar class propulsion shafting system, it is perceived that the main source of excitation will be the propeller - ice load interaction. The milling - and the impact load, in addition to the load cases interpreted by IACS, contribute greatly to the overall characteristic of the system and due considerations are given during the propulsion design stage. This paper will expound on the excitation load estimation factors affecting the dynamic response of the different propulsion shafting system design. It is anticipated that detailed understanding of these factors will have a significant role during propulsion shafting design in the future.

• Journal of the Korean Wood Science and Technology
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• v.36 no.6
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• pp.105-112
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• 2008

Grading of the urushi lacquer is quite difficult because of large variations depending on origin, growing conditions, time acquisition, storage conditions. It is urgently required to establish a grading system of urushi lacquer by combining traditional method with scientific methods. Traditional grading of urushi lacquer was done by visual inspection of 10 experts who are working on urushi lacquer industry. Common aspects of the experts were color, odor, viscosity, spread properties on Hanji, color and drying properties on glass based the traditional grading system. In addition, rubbing on Hannj and heating with alcohol lamp was also used to grade urushi lacquer. The grading results of 10 experts showed that chinese urushi lacquer (E) of 7.03, japanese urushi lacquer (C) of 6.84, domestic urushi lacquer of (A) of 6.41 and another chinese urushi lacquer (D) of 5.27, and domestic urushi lacquer (B) of 2.50 in descending order. The degree of spread on Hanji was not consistent among 10 experts. These results indicated that the traditional grading system was pretty much personal and required of developing more objective method based on scientific background.

• Proceedings of the Korean Society of Near Infrared Spectroscopy Conference
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• 2001.06a
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• pp.1257-1257
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• 2001

Fourier transform near infrared (FT-NIR) spectroscopy was used as a rapid method to measure the $^{o}Brix$ content and to discriminate between different must samples in terms of their fee amino nitrogen (FAN) values. FT-NIR spectroscopy was also used as a rapid method to discriminate between Chardonnay wine samples in terms of the status of the male-lactic fermentation (MLF). This was done by monitoring the conversion of malic to lactic acid and thereby determining whether MLF has started, is underway or has been completed followed by classification of the samples. Furthermore, FT-NIR spectroscopy was applied as a rapid method to discriminate between table wine samples in terms of the ethyl carbamate (EC) content. EC in wine can pose a health threat and need to be monitored by determining the EC content in relation to the regulatory limits set by the authorities. For each of the above mentioned parameters, $QUANT+^{TM}$ methods were built and calibrations derived and it was found that a very strong correlation existed in the sample set for the FT-NIR spectroscopic predictions of $^{o}Brix$ (r = 0.99, SECV = 0.306), but the correlations for the FAN (r = 0.61, SECV = 272.1), malic acid (r = 0.58, SECV = 1.06), lactic acid (r = 0.51, SECV = 1.14) and EC predictions (r = 0.47, SECV = 3.67) were not as good. Soft Independent Modeling by Class Analogy (SIMCA) diagnostics and validation was applied as a sophisticated discrimination method. The must samples could be classified in terms of their FAN values when SIMCA was applied, obtaining results with recognition rates exceeding 80%. When SIMCA diagnostics and validation were applied to determine the progress of conversion of malic to lactic acid and the EC content, again results with recognition rates exceeding 80% were obtained. The evaluation of the applicability of FT-NIR spectroscopy measurement of FAN, $^{o}Brix$ values, malic acid, lactic acid and EC content in must and wine shows considerable promise. FT-NIR spectroscopy has the potential to reduce the analytical times considerably in a range of measurements commonly used during the wine making process. Where conventional FT-NIR calibrations are not effective, SIMCA methods can be used as a discriminative method for rapid classification of samples. SIMCA can replace expensive, time-consuming, quantitative analytical methods, if not completely, at least to some extent, because in many processes it is only needed to know whether a specific cut off point has been reach or not or whether a sample belongs to a certain class or not.