• East Asian Journal of Business Economics (EAJBE)
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• v.11 no.2
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• pp.109-118
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• 2023

Purpose - This research paper aims to examine the impact of entrepreneurial orientation (EO) and government support programs (GSP) on new product performance in Korean Small and Medium-sized Enterprises (SME). We specifically focus on the interaction between these two factors and their influence on the new product performance of Korean SMEs. Research design, data, and methodology - We collected survey questionnaires from SMEs that are certified with Inno-biz by the Korean Ministry of SMEs and Startups. The collected data was analyzed using SPSS 26 and AMOS to create an integrated model. Result - Based on the analysis, our findings indicate that the proactiveness and innovativeness dimensions of EO have a positive effect on new product performance. However, the risk-taking dimension of EO has a negative effect. Additionally, GSP exhibit both positive and negative moderating effects on different dimensions of EO. Conclusion - It is important to recognize that GSP are not a universal solution for all challenges faced by SMEs. Hence, it is crucial for policy-makers to have a clear understanding of SMEs' capabilities and the level of EO dimensions in order to identify types of GSP that could lead to positive outcomes, while minimizing the negative effects of GSP.

• International Journal of Internet, Broadcasting and Communication
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• v.13 no.3
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• pp.148-154
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• 2021

We propose the AI Smart Factory Model for integrated management of production processes in this paper .It is an integrated platform system for the production of food packaging containers, consisting of a platform system for the main producer, one or more production partner platform systems, and one or more raw material partner platform systems while each subsystem of the three systems consists of an integrated storage server platform that can be expanded infinitely with flexible systems that can extend client PCs and main servers according to size and integrated management of overall raw materials and production-related information. The hardware collects production site information in real time by using various equipment such as PLCs, on-site PCs, barcode printers, and wireless APs at the production site. MES and e-SCM data are stored in the cloud database server to ensure security and high availability of data, and accumulated as big data. It was built based on the project focused on dissemination and diffusion of the smart factory construction, advancement, and easy maintenance system promoted by the Ministry of SMEs and Startups to enhance the competitiveness of small and medium-sized enterprises (SMEs) manufacturing sites while we plan to propose this model in the paper to state funding projects for SMEs.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.3
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• pp.366-376
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• 2019

Youth unemployment reached a record high in 2017, and business revitalization is emerging as a means of overcoming this situation. The number of venture companies and amounts of new venture investments are increasing year on year, and the government has upgraded Small and Medium Business Administration to the Ministry of SMEs and Startups. However, the success rate of startups is relatively poor. Over the past three years only 39.1% of Korean startups survived and 90% of companies failed in the Valley of Death phase. Survival this phase is critical for early startups, and thus, the amount and timing of investments are critical. Current models for establishing business startups do not effectively attract investments because they lack practical, corporate evaluation variables. In this paper, we develop a mixed process that incorporates the factors and business models focused on by venture capital investors. In addition, we compared our Death Valley Venture (DVV) process with current methods and provide an example of its application.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.3
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• pp.43-58
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• 2021

This study analyzes the entrepreneurship policies of the previous Korean administrations from the perspective of the Policy Paradigm by Hall(1993). A total of 195 newspaper articles and 202 government documents were examined to identify policy paradigm shifts through an analysis of policy objectives, policy instruments, and changing quality of policy instruments by each administration. The first paradigm was built during the 5th and 6th Republic, where 'Support for Small and Medium Enterprise Establishment Act' was enacted in 1986 to promote and support start-ups in the manufacturing sector. Next is the so-called 'people's government' period where 'Act on Special Measures for the Promotion of Venture Businesses' was enacted to tackle the challenges posed during the 1997 Asian financial crisis. A new policy goal was set to promote and nurture venture companies seeking subsequent means to achieve it. The third paradigm shift took place during President Moon's administration in order to effectively respond to the issues stemming from the fourth industrial revolution and the COVID-19 pandemic. Through the overall revision of the 'Support for Small and Medium Enterprise Establishment Act', the scope of startups were expanded, new industries and technology startups were supported and promoted, and venture investment-related laws were streamlined. In addition, the Small and Medium Business Administration was promoted as the Ministry of SMEs and Startups, enabling them to take initiative in implementing startup policies. Particularly, this study focuses on examining the low survival rate of startup companies and the revitalization of private investment as rising policy issues for recent startups, and suggests the improvement direction due to startup policy paradigm shift.

• The Journal of Industrial Distribution & Business
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• v.9 no.9
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• pp.25-33
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• 2018

Purpose - In this study, we consider and examine relationships between reasons for business switch or liquidation (BSL), and the demographics of small and medium enterprises (SMEs) in South Korea. The related five variables are occupations, administrative districts, age of employer, firm age and foundation motivation. In addition, eleven levels in association with reasons for BSL visualize the corresponding demographics by measuring their similarity on the dimensional planes assuming that the association exists between variables under consideration. Research design, data, and methodology - This study is done by the Ministry of SMEs and Startups in 2016 and examines 20,307 small and medium enterprises. For examining the distinct relationships among variables under consideration, both chi-squared test and correspondence analysis as main statistical tools are used. Results - The results show that among levels of reasons for BSL the three levels -weakening profitability, poor sales and economic depression- are main ones for the five demographics variables mentioned above, and we can obtain the detailed associations between attributes of corresponding variables by inspecting the two dimensional plane. Conclusions - This study suggests reasons for BSL are closely associated with the five different demographics variables - Administrative districts, Firm age, Occupations, Age of employer and Foundation motivation-by looking over results.

• Journal of the Korean Society of Systems Engineering
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• v.15 no.2
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• pp.79-86
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• 2019

Among the government-sponsored projects supported by Ministry of SMEs and Startups(MSS), the financial support of the Consulting Research Institutes of our university is scheduled to be ended this year. In this regard, this study is to develop a profit model for R&D center of Consulting Research Institute that can cultivate the financial independence of R&D center of Consulting Research Institutes and foster technology convergence consulting manpower to strengthen the competitiveness of SMEs in preparation for the Fourth Industrial Revolution. The profit model were derived from the current status of consulting industry and similar organizations, the current status of consulting graduate R&D centers, case studies of other universities, and focus group interviews. In order to select three high profit models and commercialize them, BMC (Biz Model Canvas) was used and business feasibility was examined. Therefore, three profit model of R&D center of Consulting Research Institute are: First, SCB (SME's Consulting Business: Total Solution Provider for SMEs through Technology Convergence Consulting), Second, SNB (SME's Network Business: Experts connection in Consulting Graduate School for Solving Problems and Problems of SMEs / Industry Consolidation) And third, SM (Sustainable Management: Financial independence through structural improvement of Consulting Research Institute), and the road-map was established. As an implementation plan, the company intends to seek financial independence by developing a profit model for R&D center of Consulting Research Institutes and by establishing business goals and strategies, manpower operation plan, organization, and investment plan for three years.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.1
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• pp.31-44
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• 2020

Accelerators that invest in early startups, as well as nursery and overall management, have recently emerged as "key players" in the startup ecosystem. This can be proved by the case where the number of domestic accelerators registered in the Korean Ministry of SMEs and Startups has recently reached 208. Accelerators provide the necessary education for early-stage companies, including guidance for a certain period of time, and support startups in ways such as demo days to attract subsequent investment after the seed investment. There is not much research in academia about what factors impact on these accelerators when making investment decisions at the time of seed investment. In this study, we checked the meaning and function of the accelerator and tried to analyze what factors affect on accelerators when making a decision to invest in startups. The research method is based on a literature survey of previous studies on investment decision-making factors of venture capital and angel investors, and a lens model and judgment analysis method through empirical research targeting 43 accelerator investment decision-makers. Empirical analysis shows that accelerators have three of the key factors to consider when choosing the first startup to invest and educate; entrepreneurs' entrepreneurial traits, their product and service expertise and a potential return on success. This will provide an opportunity for early startups to gain strategic access to accelerators when they need money or need a structured educational program. Also, the results obtained through this research will be a kind of guideline for startups to attract accelerators' investment. The significance of this study is that discriminatory evidence was presented on the accelerator determinants of investment, and it would be highly suggestive to startups and related public institutions.

• Journal of the Korean Society of Visualization
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• v.16 no.3
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• pp.16-25
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• 2018

PIV experiments were carried out to visualize the velocity distribution of the sweeping jet impinging onto a flat plate and kinematic behavior of the jet from the fluidic oscillator. Two parameters such as four different Re cases and four different jet-to-wall distances were examined. Time-resolved two dimensional PIV measurements were performed for both streamwise and normal planes respect to the jet axis. Ensemble averaged and phase averaged velocity fields were obtained for the tested range of parameters. The sweeping frequency of the jet increases linearly with increase of Re. The kinetic energy of the sweeping jet decreases as the distance from the jet to the impinging plate increases. In addition, turbulence flow is generated due to the swinging motion of sweeping jet, and various vortices such as primary and secondary vortex are observed near the impinging wall.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.3
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• pp.1-17
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• 2022

This study studied the effect of the TIPS support project of the Ministry of SMEs and Startups on the entrepreneurship of TIPS start-ups. The Tips start-up company, which is the subject of the study, was selected for the TIPS support project, participated in all commercialization funds, incubation facilities, and capacity building programs, and was selected as a company that received private investment. One-on-one in-depth interviews were conducted for about eight weeks from January 14, 2022 to March 11, 2022. For this study, the TIPS support project was subdivided into four categories: commercialization funds, incubation facilities, capacity building programs, and private investment attraction, and entrepreneurship factors were classified into four categories: innovation, challenge spirit, leadership, and risk-taking. As a result of the in-depth interview, the influence of the TIPS support project on entrepreneurship factors was in the order of challenge spirit, innovation, risk-taking, and leadership. Specifically, it was found that commercialization funds influenced innovation and risk-taking, incubation facilities had a challenge spirit and risk-taking, competency-building programs had a challenge spirit and leadership, and attracting private investment had an influence on innovation and challenge spirit. The implications of this study are that the TIPS support project, a private investment-led technology start-up support program, was introduced in 2013 and as of the end of March 2022, and a report was prepared focusing on visible performance such as private investment performance and employment rate. However, through this study, by analyzing whether the TIPS support project contributed to the cultivation of entrepreneurship for TIPS start-ups, it was found that it had a positive influence not only on quantitative growth but also on qualitative growth.

• The Journal of Information Systems
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• v.32 no.3
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• pp.205-224
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• 2023

Purpose This study investigates the impact of organizational characteristics on organizational performance through case studies of smart factory implementation in the context of Korean small and medium Enterprises (SMEs). To achieve this goal, this study adopts the smart factory index of KOSMO (Korea Smart Manufacturing Office) established by Korean Ministry of SMEs and Startups. We visited 3 firms implemented smart factory projects. This study presents the results of field study in detail with evaluation criteria on how organizational competences like AI technology adoption and facility automation can be exploited to positively influence organizational performance through smart factory implementation. Design/methodology/approach There are not so many results of empirical studies related to smart factories in Korea. This is because organizational support and user involvement are required for facility AI platform service beyond factory automation after the start of the 4th Industrial Revolution. Korean government's KOSMO (Korean Smart Manufacturing Office) has developed and proposed a level measurement index for smart factory implementation. This study conducts case studies based on the level measurement method proposed by KOSMO in the process of conducting case studies of three companies belonging to the root and mechanic industries in Korea. Findings The findings indicate that organizational competences, such as facility AI platform adoption and user involvement, are antecedents to influence smart factory implementation, while smart factory implementation has significant relationship with organizational performance. This study provides a better understanding of the connection between organizational competences and organizational performance through smart factory case studies. This study suggests that SMEs should focus on enhancing their organizational competences for improving organizational performance through implementing smart factory projects.