• KDI Journal of Economic Policy
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• v.27 no.1
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• pp.123-156
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• 2005

Strengthening the competitive edge of SMEs has become one of the most important economic issues in Korea as the bipolarization between large firms and SMEs has deepened. Accordingly, small innovative firms (referred as 'venture firms' in Korea) attract keen attention both from policy makers and academia. Also, we can sufficiently observe how the growth environment for venture firms has evolved, since it has been almost ten years after the Korean government started its support policy for venture firms. Considering this, now is the appropriate time to carry out an analysis of venture firms. From this point of view, this study looks at growth factors for venture firms to draw out policy implications. The empirical analysis shows interesting results. Firms with the following features all showed higher growth rates: firms with high R&D intensity, younger firms, bigger firms, firms using more policy loans, and firms located within and around the Seoul region. However, the empirical analysis has some limitations. The data used in the study is limited in terms of firm information and so there are some insufficiencies. Thus it is of great importance to compile the required data on firms to enable further in-depth studies.

• Industry Promotion Research
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• v.9 no.3
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• pp.87-100
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• 2024

This study approached the factors affecting companies's sustainable growth by overcoming the valley of death after starting a business from the perspective of technology, market, location, cluster, and INC model, and conducted a case study on success and failure companies in Daedeok Cluster to explore the adequacy and suitability of the main factors of previous studies. The results of this study suggest that location accessibility-based collaboration between innovators is important for the growth of companies in the cluster, and balanced growth such as innovative ideas, market needs, and capability to meet needs is necessary for companies' products and services to create innovative value in the market. This study is worth in that it presents factors for sustainable corporate growth through the analyses of success and failure cases for companies in the Daedeok Cluster. In addition, the research is successful in that it proposed a policy support plan based on collaboration among companies to foster companies in the cluster.

• The Journal of the Korea Contents Association
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• v.17 no.9
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• pp.523-535
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• 2017

Despite consumers' increasing awareness and interests in innovative wearable devices, the sales growth has been stagnant. To analyze this phenomenon, we investigate consumer preferences for various innovative features embedded in wearable devices. Conducting conjoint analysis on smartwatches, we empirically show that the curse of innovation can occur when the consumer's expected utility from the smartwatch falls short of his/her psychological cost associated with behavior change from smartwatch usage. Therefore, our findings provide managerial implications on the R&D strategy for new technologies and more importantly on the marketing strategy easing consumers' resistance to highly innovative products.

• Asian Journal of Innovation and Policy
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• v.11 no.3
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• pp.363-396
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• 2022

This study focuses on the happiness of the generation MZ of innovative enterprises, which are evaluated as the driving force of economic growth at a time when the value of happiness is emerging. Happiness is related to the prosperity and performance of the organization. However, MZ generation office workers, who account for 45% of the economically active population, are considered unhappy at work. Therefore, this study attempted to explore the preceding factors (organizational factors, relationship and communication factors, and personal factors) of happiness for the generation MZ of innovative enterprises and to examine the effect of happiness on employee engagement. For the study, 300 usable responses were collected from generation MZ working in innovative enterprises through an online survey. Research hypotheses and research questions were verified using SPSS 26.0 and AMOS 23.0. As a result, it was confirmed that procedural justice among the organizational factors, rewarding co-worker/supervisor relationship among the relationship/communication factors, and personal factors (meaningfulness of work, personal accomplishment) positively affected the MZ generation's workplace happiness. In particular, the meaningfulness of work, which corresponds to personal factors, exerted the most significant influence. In addition, in the case of happiness at the workplace, there was a positive effect on employee engagement, which was stronger in organizational engagement than in job engagement. As a result of examining the structural relationship between variables used in the study, it was found that procedural justice, rewarding co-worker/supervisor relationships, the meaningfulness of work, and personal accomplishment positively affected employee engagement through happiness. Through research, the importance of happiness at the workplace was suggested by systematically reviewing the preceding variables of happiness at the workplace and grasping the positive effects of happiness. In addition, the management measure of generation MZ employees of innovative enterprises was discussed, the necessity of research on happiness at the workplace was emphasized, and follow-up studies were proposed.

• Journal of Technology Innovation
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• v.31 no.3
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• pp.201-230
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• 2023

The Innovation Procurement Policy was introduced as part of the strategic public procurement policy to improve firms' innovation capabilities and enhance the public sector's ability to solve social problems by designating and purchasing so-called 'innovative products.' The pilot procurement project for innovative products was first introduced in 2019, and the policy system for designating and discovering innovative products by government departments, as well as the priority purchase system, was established in 2020. Hence, this study conducted a quantitative analysis focusing on the effectiveness of the innovation procurement system in supporting firms after it was fully implemented. For this purpose, corporate financial and employment data from 2017 to 2021 were used, and propensity score matching(PSM) and difference-in-difference(DID) methods were utilized as analytical tools. The study found that the innovation procurement system contributed to corporate growth and employment and created additional public and private sales channels. Moreover, it is necessary to enhance the innovation procurement system, such as matching innovative product-producing companies with existing SME support policies, for companies to become self-sustaining after the innovative product designation ends.

• Journal of Technology Innovation
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• v.31 no.1
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• pp.105-148
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• 2023

This paper provides a new method of measuring the degree of technological progress which contributes to real economic growth based on Schumpeter's Trilogy. Using Microdata of Statistics Korea, the results of measuring and comparing the actual growth contribution of technological progress during the period 2003-2018 by the total factor productivity growth rate(growth accounting method), the R&D investment contribution rate, and the Schumpeterian innovation growth rate, respectively are as follows. First, the measurement of the real growth contribution of technological progress by the growth rate of total factor productivity and the growth rate of Schumpeterian innovation shows contradictory results. Second, when the growth rate of production is in a decreasing trend, the difference between the growth rate of production and the growth rate of total factor productivity increases compared to when it is in an increasing trend. Conversely, when there is an increasing trend, the difference between the growth rate of production and the growth rate of total factor productivity becomes smaller compared to when it is in a decreasing trend.. Third, the technological opportunity that affects the innovation growth rate, i.e., the contribution of R&D incentives to innovative growth is only 3.3%. The reason why this result is different from the existing perception of the contribution of technological progress to growth is that different entities are being measured while measuring the same term of technological progress. Therefore, the growth rate of total factor productivity should be used to measure macroeconomic efficiency, R&D investment should be used to measure the effectiveness of new technology supply, and the Schumpeterian innovation rate should be used to measure the economic impact of technological progress. The policy implications of the research results of this thesis are as follows: ① Transition from a policy of one-sided technology supply to a policy of convergence of technology supply and new technology demand support, ② Mission-oriented R&D policy and R&D policy that links national R&D with private R&D, ③ Reclassification of capital goods reflecting the degree of new knowledge.

• Journal of the Economic Geographical Society of Korea
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• v.18 no.1
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• pp.115-135
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• 2015

In the glocalization a common phenomenon of several nations reveals knowledge innovation and growth by the important subject of region and state and is studied at theory and practice. the successful cases of regional development in an advanced country have leading innovation through regional innovation system and cluster. therefore we are necessary to analyse how the knowledge spillovers in innovative cluster as the reduced model of regional innovation system guide firm innovation and region growth. this article reviews theories and empirical studies of the knowledge spillovers in the regional innovation system and innovative cluster of innovative geography and proposes a new research issues for further explorations of the knowledge spillovers. Previous studies assist that knowledge spillovers exist in knowledge-based industries of specific local area and local innovation accomplishes through pure knowledge spillover. but limits of these studies include narrow region and technological area, few analytical variable and exclusion of rent knowledge spillover. therefore new research topics related with that exemplifies geographical dimension(concentration and decentralization), technological dimension(knowledge based industry), category of analytic variables(previous indicators, time, and social capital), conceptualization(appropriation means, markets for technology) etc.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.1
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• pp.225-236
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• 2023

Policy implications were derived by comparing/analyzing innovative SMEs and general SMEs that obtained innovation certification from 2015 to 2021 in terms of survival period. Work experience, scale (employment, capital and debt size, sales and operating profit) Korean standard industry classification (2 digit) was used to select general SMEs similar to innovative SMEs. Survival period was calculated by defining suspension, closure and overdue equivalent to default as events. As a result of the survival analysis, innovative SMEs showed a 9.8% reduction in the risk of delinquency compared to general SMEs, indicating that the survival period of innovative SMEs was significantly longer. In addition, it was found that the work experience and size (employment, capital) of SMEs had a positive effect on the survival period, but debt had a negative effect on the survival period. This means that the innovation certification system centered on innovation capabilities and future growth potential is a significant indicator in terms of survival period. As a result, it was concluded that the benefits and support policies provided by the innovation certification system need to be more systematic and sophisticated by reflecting the work experience and industry for the actual growth and survival of SMEs.

• International Commerce and Information Review
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• v.14 no.1
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• pp.197-218
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• 2012

Technological competitiveness of SMEs is an important factor of the country's industrial competitiveness. And technological competitiveness of SMEs in South Korea has been a long-term congestion. Through the study, we analyzed the correlation between SMEs technical support policy and technological competitiveness. As a result, the technological competitiveness of SMEs is positively related to R&D policy of funding, taxation and infrastructure. And on the other hand, R&D support policy positively effected the technological competitiveness of subcontractors, 5~49 people of small enterprises and innovation SMEs. We suggest that technology fund should be increased by expanding policy funds, investments and loans. Also, allocation of strategic R&D resources and supportive researching staffs are needed to strengthen high-growth innovative SMEs.

• International Journal of Computer Science & Network Security
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• v.22 no.9
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• pp.51-58
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• 2022

The article emphasizes the features of the modern education system in Poland, reveals the peculiarities of improving the professional competence of a specialist in Poland through the implementation of multimedia technologies. Various forms of innovations implemented in improving the professional competence of a specialist are listed: improvement (rationalization), modernization, innovation. The forms of professional improvement through the introduction of computer technologies in general and multimedia technologies, in particular, primarily include various professional courses, qualification, preparatory, methodological conferences, seminars, postgraduate studies, foreign and state internships. At the same time, the main direction is self-education. The subject of professional improvement in the application of computer technologies by specialists is the updating of existing knowledge, exchange of professional experience, planning, as well as discussion of innovative works in which specialists participate. Professional growth of specialists can occur both during work and in higher education institutions during their studies. Modernization of computer technologies, especially multimedia ones, is a necessary condition for the functioning of specialists in modern society, since specialists are at the center of the educational process, during the improvement of professional competence. The main functions of the educational process necessary for improving the professional competence of specialists through the implementation of multimedia technologies are revealed. These functions not only contribute to the professional improvement of specialists, but also affect their solutions and optimize the maintenance of contacts between specialists. The importance of creating conditions that are consistent with the modern needs of innovative education is emphasized.