• Asia Marketing Journal
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• v.15 no.1
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• pp.169-188
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• 2013

Established in 2006 as the forward integration effort by Taesung Industry, the major cosmetic packaging company, TONYMOLY has phenomenally grown to one of the major cosmetic brand companies in the submarket called, 'one brand-shop' of cosmetic market since 2008, after overcoming the crisis of 'going out of business' in a couple of early years. Within a relatively short period of time, TONYMOLY's performances have dramatically improved in terms of metrics such as growth in sales revenue, the number of stores, the average sales per store, transaction value per customer, the number of monthly transactions, the number of membership-based customers, and overseas sales. In this case study, we have examined TONYMOLY's recent marketing activities which may explain the plausible reasons behind the substantial growth of a small but smart cosmetic company. Above all, the first key success factor of TONYMOLY would be found in its adherence to the clear philosophy of the customer value proposition and/or the differentiated position of TONYMOLY as a brand of providing value. Second, this brand concept of value was first penetrated and welcomed among the foothold customer target group of mid and late teens with appropriate products, while the target groups were later expanded into the age group of twenties along with expansion of relevant products. Third, its differentiation efforts have been concrete and meaningful by utilizing unique ingredients in its product development and marketing efforts, unique fun packaging, and continuously introducing new hit-selling products as well as managing steady-selling products. Fourth, TONYMOLY has been smart enough to use its limited marketing money efficiently and effectively in its marketing communication activities. Viral marketing, PPL, and concentrated media planning and execution turned out to produce effective and efficient market-based performances such as awareness, word-of-mouth, and sales. Lastly, the marketing leadership of CEO and top management, emphasizing communications and interactions, was confirmed in the relationship quality with and trust level of its franchisees and internal employees. These key success factors may explain the recent phenomenal market performances of TONYMOLY. Despite recent successes, the major issues are presented for TONYMOLY to consider for maintaining its sustainable advantages and growth. The first issue concerns TONYMOLY's choice of growth philosophy between product/brand-centric marketing and customer-centric marketing. The second challenging issue relates to how TONYMOLY can cope with 'growing pains' plausibly accompanied with the rapid growth.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.1
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• pp.101-116
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• 2019

Technology-based start-up is important in that it encourages innovation, facilitates the development of new products and services, and contributes to job creation. Technology-based start-up activates entrepreneurship when appropriate support is provided within the ecosystem. Thus, understanding the technology-based start-up ecosystem is crucial. The purpose of this study is as follows. First, in Herrmann et al.'s(2015) study, we compare and analyze the ecosystem of each country by selecting representative regions such as Silicon Valley, Tel Aviv, London and Singapore which have the highest ranking in the start-up ecosystem. Second, we try to deeply understand the start-up ecosystem based on in-depth interviews with various stakeholders such as VC investors, start-ups, support organizations, and professors related to the Korean start-up ecosystem. Finally, based on the results of the study, we suggest development and activation of Korean technology-based start-up ecosystem. As a result, the Seoul start-up ecosystem showed a positive evaluation of government support compared to other advanced countries. In addition, it was confirmed that the ratio of tele-work and start-up company working experience of employees was higher than other countries. On the other hand, in Seoul, It was confirmed that overseas market performance, human resource diversity, attracting investment, hiring technological engineers, and the ratio of female entrepreneurs were lower than those of overseas advanced countries. In addition, according to the results of the interview analysis, Seoul was able to find that start-up ecosystems such as individual angel investors, accelerators, support institution, and media are developing thanks to the government's market-oriented policy support. However, in order for this development to continue, it is necessary to improve the continuous investment system, expansion of diversity, investment return system, and accessibility to the global market. A discussion on this issue is presented.

• Journal of Distribution Science
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• v.8 no.3
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• pp.17-26
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• 2010

Recently concerns have been raised due to the unbalanced supply of crops: the price of crops has been unstable and at one point the price went up so high that the word Agflation(agriculture+ inflation) was coined. Korea, in particular, is a small-sized country and needs to secure the stable supply of crops by investing in the produce importation at a national level. Investment in foreign produce importation is becoming more important as a measure for sufficient supply of crops, limited supply of domestic crops, weakened farming conditions worldwide, as well as recent changes in the use of crops due to the development of bio-fuels, influence of carbon emission on crops, the price increase in crops, and influx of foreign hot money. However, there are many problems with investing in foreign produce importation: lack of support from the government; lack of farming information and technology; difficulty in securing the capital; no immediate pay-off from the investment and insufficient management. Although foreign produce is originally more price-competitive than domestic produce, it loses its competiveness in the process of importation (due to high tariffs) and poor distribution system, which makes it difficult to sell in Korea. Therefore, investment in foreign produce importation is being questioned for feasibility; to make it possible, foreign produce must maintain the price-competitiveness. Especially, harvest of agricultural products depends on natural and geographical conditions of each country and those products have indigenous properties, so distribution system according to import and export of agricultural products should be treated more carefully than that of other industries. Distribution costs are differentiated into each item and include cost of sorting and wrapping, cost of wrapping materials, cost of domestic transport, cost of international transport and cost of clearing customs for import and export. So transporting and storing agricultural products generates considerable costs compared with other products. Also, due to upgrade of dietary life, needs for stability, taste and visible quality toward food including agricultural products are being raised and wrong way of storage causes decomposition of food and loss of freshness, making the storage more difficult than that in room temperature, so storage and transport in distribution of agricultural products needs specialty. In addition, because lack of specialty in distribution and circulation such as storage and wrapping does not solve limit factors in distance, the distribution and circulation has been limited to a form of import and export within short-distant region. Therefore, need for distribution out-sourcing which can satisfy specialty in managing distribution and circulation and it is needed to establish more effective distribution system. However, existing distribution system of agricultural products is exposed to various problems including problems in distribution channel, making distribution and strategy for distribution and those problems are as follows. First, in case of investment in overseas agricultural industry, stable supply of the products is difficult because areas of production are dispersed widely and influenced by outer factors due to including overseas distribution channels. Also, at the aspect of quality, standardization of products is difficult, distribution system is quite complicated and unreasonable due to long distribution channels according to international trade and financial and institutional support is not enough. Especially, there are quite a lot of ineffective factors including multi level distribution process, dramatic gap between production cost and customer's cost, lack of physical distribution facilities and difficulties in storage and transport due to lack of wrapping containers. Besides, because import and export of agricultural products has been manages under the company's own distribution according to transaction contract between manufacturers and exporting company, efficiency is low due to excessive investment in fixed costs and lack of specialty in dealing with agricultural products causes fall of value of products, showing the limit to lose price-competitiveness. Especially, because lack of specialty in distribution and circulation such as storage and wrapping does not solve limit factors in distance, the distribution and circulation has been limited to a form of import and export within short-distant region. Therefore, need for distribution out-sourcing which can satisfy specialty in managing distribution and circulation and it is needed to establish more effective distribution system. Second, among tangible and intangible services which promote the efficiency of the whole distribution, a function building distribution environment which includes distribution information, system for standard and inspection, distribution finance, system for diversification of risks, education and training, distribution administration and tax system is wanted. In general, such a function building distribution environment is difficult to be changed and supplement innovatively because its effect compared with investment does not appear immediately despite of its necessity. Especially, in case of distribution of agricultural products, as a function of collecting and distributing is performed individually through various channels, the importance of distribution information and standardization is getting more focus due to the problem of repetition of work and lack of specialty. Also, efficient management of distribution is quite difficult due to lack of professionals in distribution, so support to professional education is needed. Third, though effort to keep self-sufficiency ratio of staple food, rice is regarded as important at the government level, level of dependency on overseas of others crops is high. Therefore, plan for stable securing food resources aside from staple food is also necessary. Especially, governmental organizations of agricultural products distribution in Korea are production-centered and have unreasonable structure whose function at the aspect of distribution and consumption is quite insufficient. And development of new distribution channels which can deal with changes in distribution environment and they do not achieve actual results of strategy for distribution due to non-positive strategy for price distribution. That is, it implies the possibility that base for supply will become vulnerable because it does not mediate appropriate interests on total distribution channels such as manufacturers, wholesale dealers and vendors by emphasizing consumer protection excessively in the distribution of agricultural products. Therefore, this study examined fundamental concept and actual situation for our investment to overseas agriculture, drew necessities, considerations, problems, etc. of overseas agricultural investment and suggested improvements at the level of distribution for price competitiveness of agricultural products cultivated in overseas under five aspects; government's indirect support, distribution's modernization and distribution information function's strengthening, government's political support for distribution facility, transportation route, load and unloading works' improvement, price competitiveness' securing, professional manpower's cultivation by education and training, etc. Here are some suggestions for foreign produce importation. First, the government should conduct a survey on the current distribution channels and analyze the situation to establish a measure for long-term development plans. By providing each agricultural area with a guideline for planning appropriate production of crops, the government can help farmers be ready for importation, and prevent them from producing same crops all at the same time. Government can sign an MOU with the foreign government and promote the importation so that the development of agricultural resources can be stable and steady. Second, the government can establish a strategy for an effective distribution system by providing farmers and agriculture-related workers with the distribution information such as price, production, demand, market structure and location, feature of each crop, and etc. In order for such distribution system to become feasible, the government needs to reconstruct the current distribution system, designate a public organization for providing distribution information and set the criteria for level of produce quality, trade units, and package units. Third, the government should provide financial support and a policy to seek an efficient distribution channel for foreign produce to be delivered fresh: the government should expand distribution facilities (for selecting, packaging, storing, and processing) and transportation vehicles while modernizing old facilities. There should be another policy to improve the efficiency of unloading, and to lower the cost of distribution. Fourth, it is necessary to enact a new law covering exceptional cases for importing produce in order to maintain the price competitiveness; currently the high tariffs is keeping the imported produce from being distributed domestically. However, the new adjustment should be made carefully within the WTO regulations since it can create a problem from giving preferential tariffs. The government can also simplify the distribution channels in order to reduce the cost in the distribution process. Fifth, the government should educate distributors to raise the efficiency and to modernize the distribution system. It is necessary to develop human resources by educating people regarding the foreign agricultural environment, the produce quality, management skills, and by introducing some successful cases in advanced countries.

• The Journal of Industrial Distribution & Business
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• v.9 no.12
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• pp.55-61
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• 2018

Purpose - It suggests that making a policy and strategies for a way of Dubai has a strong priority strategy on science and technology by using much oil dollars to prepare risk when oil dollar's decrease. This has been now investigated how the leading innovator has changed the periphery countries. Research design, data, and methodology - Analyze policy, status, what other neighbouring Middle East countries also want to benchmark a successful case of a leading Dubai strategy. Higher manpower is needed absolutely to develop S&T. and etc. Dubai and Arab countries establish university to nurture as well as invite the talented manpower from overseas to recover deficient manpower. Dubai built totally academy city and invited branch of the overseas famous university, and Saudi Arabia built university(KAUST) and invite faculty and support good scholarship for students. Abrab countries especially, This is studied the process of differentiating and integrating the migrant workers of these cities into the globalized cities. This has resulted in large-scale employment for foreign and local companies in these cities and the spread of science and innovation. Results - Dubai supports venture or SMEs by using a strong priority strategy and attracts foreigner's investor, with which the neighbouring countries have been preparing together for 4th wave. It demonstrates that the gravitational model has been activated from neighboring countries of innovation science to create Dubai's hub. The maturity of long-term urban innovation is related to innovation capability through the national response and review. As a result, the flow of skilled international migration has been localized because of the mutual intersection with the local employment structure, and the development has spread as it spreads to neighboring countries. Conclusion - For the exploiting of new Distribution market in the neighbouring countries, Middle East countries' a strong priority strategy on S&T and education system give an influence on economic situation of the 4th wave in the world and world order of leading by USA, Japan, or EU, and etc. This is due to the creation of clusters in the form of SEZs, friendly industrial policies and world-class infrastructure and innovation development. Its neighbours benchmark the cases of distribution of science innovation and centralizes the surrounding people.

• The Journal of Society for e-Business Studies
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• v.25 no.2
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• pp.127-146
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• 2020

Overseas advanced countries are aware of the importance of research equipment and are providing a lot of policy support to revitalize the research equipment industry. However, Korea does not have any law to support policies or related projects to revitalize the research equipment industry. Therefore, there is an urgent need for legislation to support policies and projects for revitalizing research equipment industry. It is considered necessary to establish a separate special law for revitalizing the research equipment industry so that it can gain competitiveness in the global market of the research equipment industry. As we have seen, the necessary articles in the relevant laws should be specified so that various promotion policies can be developed to foster the research equipment industry. In order to promote the development of research equipment industry, there are three essential items to be specified in the law. First is research and development support, second is infrastructure development, and third is business incubation. The following contents should be included in each contents. First of all, "research and development support" includes research and envelopment project promotion and support policy items, research equipment development trends and investment trends, joint research between industry, academia, And research and development support for fusion, hybrid and commercialization. Next, the items to be included in "infrastructure development" should include the establishment of research equipment clusters, related support items, training of professional manpower, and research equipment development base area and institutions. Finally, the items that should be included in "business incubation." include support matters for the development of excellent companies (priority purchase system, etc.), matters related to technology transfer and marketing, matters concerning the protection of intellectual property, And matters for promoting overseas expansion.

• Journal of Energy Engineering
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• v.21 no.3
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• pp.281-291
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• 2012

Recently, global economy has recovered and aspects of the renewable energy industry in the global competition is more fierce, the new growth engines of the major countries, including the United States and China, industry promotion policy as being deployed. Major advanced countries and Korea also invested a lot of money to wind power development as a part of renewable energy development and promoting the construction of wind power generation. The global wind power generation market is expected to further increase the scale to about 70 billion US dollars, thus, Korea as well as the installation of domestic wind power overseas actively considering. This study uses input-output analysis to estimate the role of wind power generation sector exports national economy. More specifically, this study shows what national economy effect of production-inducing effect, value-added inducing effect, and employment-inducing effect are explored with demand-driven moel. After define wind power generation sector what small sized of Input-Output table 168 sectors among 11 sectors, this study pays particular and close attention to wind power generation sector by taking the sector as exogenous specification and then investigating economic impacts of it. The wind power generation exportation case of overseas 100 billion won, production-inducing effect, value-added inducing effect, and employment-inducing effect are 205 billion won, 68 billion won and 1,054 persons, respectively. These quantitative information can be usefully utilized in the policy-making for the industrialization of wind power generation exports.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.8
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• pp.5707-5715
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• 2015

Recently, construction industry has won an increasing number of orders for overseas construction projects, thereby achieving an external growth, but its competiveness is concentrated on the construction execution field. In particular, the plant field occupies most of the entire orders, which are concentrated regionally in the Middle East and Asia. In addition, low-cost orders are frequently caused by excessive competition. But its high value-added construction engineering(Below, CE) field's overseas market share and technological capacity are very low. Also, technological competiveness, in terms of order amount and other factors, is deepening in polarization between large CE companies and small and medium-sized CE firms. It is noted that the existing CE information systems mostly simply accumulate data such as design and specification standards and provide the information thereon to users, and thus have yet to provide the information essential for the CE and support such efforts. This study sought to prepare a system designed for sharing outstanding design documents information necessary for the CE industry, by category of construction so as to support the technological enhancement of the CE field. Toward that end, this study presented measures for constructing the system and services designed to exchange and share the outstanding design documents information and know-how by construction category necessary between ordering agencies and CE companies.

• Korean Journal of Construction Engineering and Management
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• v.14 no.4
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• pp.140-151
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• 2013

In 2011 and 2012, Korean construction firms awarded around $ 64.5. Billion each year from the overseas market in 2011. This contract value accounted for overwhelming portion of total overseas construction contract values, and this growth is expected to continue for the next decade. However, contract scopes awarded to the Korean construction firms mainly involve detailed design and construction phases due to their competitiveness for the construction techniques. In other words, front-end-engineering-design and construction project management are not considered part of core business due to the lack of project management skills and experience. The researchers focused on development of construction sequence model required to improve construction planning and scheduling skills for the Korean construction firms. The model identifies critical work items and the sequence throughout project execution process. In addition, the researchers developed a risk evaluation method by applying fuzzy theory to the critical construction activities for the industrial plant construction projects. Developed methodology will help project practitioners to develop project schedule in a timely and effe ctive manner and evaluate project risks associated with scheduling process for the industrial plant construction projects.

• Journal of Climate Change Research
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• v.4 no.2
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• pp.105-114
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• 2013

Recently, foreign direct investment of Korea has increased significantly. Foreign direct investment is motivated by various reasons and renewable energy investments in foreign countries can be performed by many causes. Korean companies can enjoy the export of products, related EPC contracts, acquisition of the knowledge of the project management technique, pre-occupying effect of the market and profit itself. Wind power projects have biggest share in the investment amounts among the renewable energy business. So, in this study, one wind farm project was selected and supposed to be invested in China, USA, Germany and UK at the same time and the effect of electricity price, corporate income tax, inflation rate and interest rate of debt were analyzed. The result showed that investing in Germany is most profitable because of the highest electricity price and electricity price and debt interest rate are the most sensitive factors for IRR. This approach would be helpful to make decisions in investing foreign wind power projects.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.42 no.3
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• pp.439-448
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• 2022

Recently, domestic small and medium-sized subcontractors participating in the overseas construction market are suffering from the continuous loss and damage due to the insufficient recognition of the importance of risk Sub-Clauses among conditions of subcontracts. Therefore, the need to derive risk Sub-Clauses for conditions of the subcontract has been raised, but until now, previous studies have been conducted focusing on deriving risk Sub-Clauses for standard conditions of contract for construction between the Employer and the Contractor. In this study, 52 risk Sub-Clauses were derived on the basis of the influence size of the Sub-Clauses through the Delphi technique targeting 94 Sub-Clauses of conditions of standard subcontract for construction edition 2011, issued by the International Federation of Consulting Engineers (FIDIC) and In addition, 33 key risk Sub-Clauses were finally derived through the PI Risk Matrix by Probability and Impact. The results of this study provide will useful information on key risk Sub-Clauses that need to be reviewed in advance to minimize contractual risks at the stage of bidding and signing contracts for overseas subcontract construction projects.