• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.115-118
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• 2008

The promotion of overseas projects by construction enterprises has appeared as a way to overcome the current business difficulties of the Korean construction industry, which largely caused by the slow growth of the domestic market and the intensified competition among construction companies. The government has also shown considerable interests in the strategic approach of promoting construction projects by private companies in natural resource-rich countries, which helps the internationalization of Korean companies and the acouisition of natural resources. In this regard, this research examines the status of the construction market in the Democratic Republic of the Congo(DRC) whose potential economic growth is considered as significant, while exploring the appropriate Investment strategies of Korean construction enterprise. Since little appears to be known about the construction market and economic conditions of the DRC, after a documented review of the development trajectory of the country, a field investigation was preformed in June 2008 for obtaining information on the subjects. This research finds that the road construction is the area to fulfill the several important criteria of implementing construction projects in developing regions, including the safety/reliability for gaining investment profits, the possibility of implementing construction projects on the gradual basis, the possibility of using the facilities after the project completion, and the linkage between payment and the construction stages. In regard to the current economic situation of the DRC and the policies of the DRC government, a package deal approach, which contains the exchange of the infrastructure construction by the Korean companies and the provision of natural resources by the DRC government, is the most feasible method for Korean companies to promote their businesses in the DRC's construction market.

• The Journal of the Korea Contents Association
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• v.16 no.9
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• pp.236-246
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• 2016

Social enterprise is an organization which use business activities as a means to achieve of social purposes. It has grown sharply since 2007 in Korea. However, now it is time had to pursue qualitative growth through the development of specialized business model. This study aims to identify business components using the Analytic Hierarchy Process (AHP) with experts and to develop a tailored business model for social enterprises in the fields of culture, performance, and the arts associated with the tourism based on regional demand within Gwangju. The analysis shows that job creation should be set as the main objectives to create value, and programs that offer hands-on experience with that fields can be the core competency. Cooperation among private corporations, local governments and agencies related to that fields is essential, as are programs provided through on- and off-line platforms. To develop a value proposition, customers must be segmented among a variety of the market participants.

• 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 Korea Society of Computer and Information
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• v.3 no.3
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• pp.139-150
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• 1998

Due to development of science and telecommunication with wide-spread computer supply, it could be done through computer automatically instead of manpower-work for paper transportation & paper approval. It is developed to so-called Factory Automation. Further, it is developed to Office Automation. Trading companies & concerned trade authorities are interested in Trade Automation that such technique is applied to trade work. Generally, Trade Automation means to realize paperless trade by exchanging electronic papers through inter-computers after concerned trade operators transformed various papers to electronic papers that computer could read. In case Trade Automation fix in the trade business, it is expected one of innovations among traditional paper work of trade business, namely without going import-export authorities, Customs office, Banks. Shipping companies, Marine insurance companies on hand-carrying papers, it could be fast, simple, correct to finish every trade procedures such as commercial business, foreign currency, customs clearance, transportations, insurance. terms of payment, etc., with Electronic Data Interchange through computer facilities. Especially, telecommunication for trade form could be helpful to proceed trade paper with one-run-method Further we can anticipate 6 effects for Trade Automation as belows : First, as explained just above articles, with completion for Trade Automation, every trade procedures can be done by computer. so, time to work can be diminished. namely. logistics cost including accessory costs for trade procedures can be saved much. Second, viewing to private enterprise, effect of Office Automation can be maximized and rapid, correct exchange for various trade informations could raise efficiency of enterprise management establishing rational production, storage, transportation and could raise competition improving standard for consumers's service. Third, establishing Trade Automation systems makes it easier piling-up of harbor cargo by pre-transmission of electronic paper & trade informations make it possible to finish customs clearance in advance and can be dispatched upon cargo arrival. Fourth, most of concerned trade authorities such as import-export approval office. financial authorities, transport & insurance companies concentrated in Metropolitan area(Seoul, In -Cheon, Kyung-Ki). Therefore, in case Trade Automation could be realized. it is possible to proceed trade business instantly in every country area by computer facilities. Also. it contribute well-balanced development for suburb. region area by suburb dispersion of trading companies. Fifth, on the way to Trade Automation establishment & its enlargement process. producing enormous demand for over-all telecommunication such as hardware. software. network makes opportunity to progress telecommunication industry & concerned industries. Finally. Trade Automation accelerate change of employment structure leading unnecessary labors on the industries of office & logistics to manufacturing area.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.8
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• pp.4863-4873
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• 2014

The Korean construction industry has played a major role among all industries despite its relative small ratio of all. The global economic crisis, however, has adversely affected the construction industry. Therefore, the Korean government implemented a corporate restructuring process to ensure the stability of the financial market. The selection standard on workout enterprises by the government is based on two perspectives: (1) external factors, including macroeconomic indices and (2) internal factors, including financial statements of private enterprises. On the other hand, if considering the characteristics of the construction industry, a certain construction company may not be evaluated only by its financial statements. In other words, a valuation process that utilizes the financial statements only can be concluded to be irrational. Accordingly, this study aims to provide the valuation model, which embraces the characteristics of workout firms, and determines their implications. To accomplish this, each enterprise valuation was measured using DCF and Black Scholes models, and by comparing such results with their market value, each enterprise was determined to be either under or over-valued. The results of this study verified that the valuations of 2 workout companies (out of 4) showed a higher value than the market value.

• Journal of Convergence for Information Technology
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• v.11 no.11
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• pp.345-352
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• 2021

This study examines the status quo of the support system for companies of persons with disabilities in Korea, and then estimates the corporate income tax reduced from a special taxation system, same as one applied to social enterprises and standard workplace for persons with disabilities, using 「Data for registered companies of persons with disabilities」(2020.6) by the Disable Enterprise Business Center. Now companies of persons with disabilities have more than 87% in the business continuity rate, and their employment rate of the average rate for 2015-2017 is higher than public institutions and private companies, which is in line with the government's employment promotion policy for the disabled. However, article 14 (Support in Taxation) of the 「Act On The Facilitation Of Entrepreneurial Activities Of Persons With Disabilities」 is still declarative and optional. Meanwhile, the corporate income tax reduced by a simulation method was calculated to be about KRW 130.1 billion for 5 years (KRW 26.02 billion per year). In this context, when comparing the tax revenue to be reduced with a positive effect by securing the effectiveness of Article 14, it can be said that the tax support for companies of persons with disabilities is feasible.

• 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.

• Journal of Industrial Convergence
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• v.21 no.11
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• pp.13-27
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• 2023

This study aims to contribute to the reduction of the failure rate and social costs resulting from business failures by analyzing factors that affect the insolvency of social enterprises, as the role of social enterprises is increasing in our economy. The data used in this study were classified as normal and insolvent companies among social enterprises (including prospective social enterprises) that were established between 2009 and 2018 and received credit guarantees from credit guarantee institutions as of the end of June 2022. Among the collected data, 439 social enterprises with available financial information were targeted; 406 (92.5%) were normal enterprises, and 33 (7.5%) were insolvent enterprises. Through a literature review, eight non-financial factors commonly used for insolvency prediction were selected. The cross-analysis results showed that four of these factors were significant. Logistic regression analysis revealed that two variables, including corporate credit rating and the personal credit rating of the representative, were significant. Financial factors such as debt ratio, sales operating profit rate, and total asset turnover were used as control variables. The empirical analysis confirmed that the two independent variables maintained their influence even after controlling for financial factors. Given that government-led support and development policies have limitations, there is a need to shift policy direction so that various companies aspiring to create social value can enter the social enterprise sector through private and regional initiatives. This would enable the social economy to create an environment where local residents can collaborate to realize social value, and the government should actively support this.

• Management & Information Systems Review
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• v.39 no.2
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• pp.163-179
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• 2020

Recently, impact investment has attracted attention all over the world. This is intended to effectively solve problems by combining private capital and various financial techniques with social and environmental needs, as it is recognized that it is difficult to solve social and environmental problems. Impact investment means a mixture of financial, social, and environmental aspects. This refers to an investment focused on such a blended value, through which it simultaneously achieves financial and social values such as return on investment. The purpose of this study is to study whether impact investment, which has become a new issue, is actually applicable in Korea. This study first considers the concept and method of impact investment, and a prior study on social enterprises and impact investment that pursue social values. In particular, after analyzing in detail the social performance-related bonds (SIB) and operational cases, we intend to explore the possible applicability of impact investment to Korea. The results and implications of this study are, first, changes in the government's attitude toward impact finance. The government should entrust innovative public works to market-proven service providers to enhance the professionalism and efficiency of public service projects. Second, the legal system must innovate. Impact investment should provide an institutional foundation to pursue social problem solving simultaneously, not maximizing financial performance. Third, when investing in public works in the private sector, impact investment must clearly demand social performance and clarify the evaluation accordingly. The project execution process should create an impact environment that is more free and active.

• The Journal of Fisheries Business Administration
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• v.39 no.1
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• pp.87-114
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• 2008

The cultured tuna production which has suddenly expanded at the short time and the demand for it attract attention. Farming mode, distribution transactions, change of the market (domestic and international) and the price trend are reviewed from the Japan's position which is the biggest consuming country. This paper tries to describe the current status of the food system related to the cultured tuna. Japanese government began the development of the tuna culture technology in 1970. It was by the Fisheries Agency's project. Kinki University which is the large scale private university in Japan participated in the project. After that, 32 years have passed. Kinki University established the full farming of the bluefin tuna in August, 2002. On the other hand, in 1974, one Japanese private enterprise began its tuna farming business in Canada. Kinki University gave this company technical cooperation. Also, in the early stages of the 90s, as for the policy of the overseas fishery cooperation foundation, it supported the tuna farming business in Australia. It is very clear to understand that the long-term technological-development has supported the take-off scene of the tuna culture business not only in foreign countries but also in Japan. The total shipment scale of the cultured tuna expanded very much within about 10 recent years. However, the decrease of the wild tuna catch, the reinforcement of the fisheries regulation and the tuna body to dwarf are remarkable now. Under the condition as the mentioned above, Japan's tuna consumption, especially, in the market at the fatty meat of tuna of the cultured tuna is building up firm status. At present, the Mediterranean Sea coastal countries, Australia, Mexico and Japan have the tuna farming sites. Australia farms the southern bluefin tuna. The others do the bluefin tuna. About for 3 years, Japan farms the juvenile of the tuna. The global production areas are as follows. 8 coastal countries of the Mediterranean Sea; 18,000 tons (61 % of the cultured tuna quantity in foreign countries), Mexico; 4,500 ton (15%), Australia; 7,000 tons (24%). In 2003, Japan has 32 managements and 39 offices for tuna farming. In Japan, Kyushu and Okinawa district, the share shows itself as 80 % of the domestic production quantity. Especially, the share of Amami-oshima Island in Kagoshima Prefecture exceeds 60 %. Therefore, this island has the maximum production scale of Japan. The amount of supply of BT and SBT was 56,000 tons in 2004. In Abroad, the tuna farming business forms a fixed connection between the importer and the wholesaler which have their office in Japan. In the field of the capital composition, the payment in advance, transaction and the way of settlement, each maintains their fixed relation. The market conditions of the cultured tuna are supported by "the decline of price level" and "the expansion of the general public consumption segment". These lead a team merchandising, and it is supported by the fixed business connection of each. This makes the profit of each business which are on the cultured tuna distribution. However, they have competition on the power balance among them.