• Culinary science and hospitality research
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• v.6 no.1
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• pp.57-78
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• 2000

In the 21st century the size of sales of food service business in Korea will be 30 trillion won which means Food service business in Koreas is a mega market, but it is only quantitative growth and might face the limit of growth. At the same time it is predicted that from the academic world Food service business will develop endlessly after IMF condition. Of course I hope so as a member of national. Al though I propose that quantitative side is important, qualitative side must not be disregarded the present and future customer is needs should be met because the 1st goal of company is to achieve a management goal and pursuit profit. The present situation requires a peculiar and specific strategy of its own which can not be followed by competing hotels so that value can be created and buying intention can be occurred after buying. Until now the goal of marketing campaign has been transacted marketing just for closing a transaction, but it must be related marketing which is seeking mutual interests of customer and company. The strategies to attain these goals are : 1) to change from products and service management-focused to customer management and relationship building-focused. 2) to establish a core strategy which needs to be changed from market occupancy of volume expansion to customer occupancy. 3) to change from one-way communication to two-way communication. 4) to change from large scale marketing by company dimension to small scale marketing by sections. If companies focus on core benefit and augmented service to be sought by customers and make every efforts to create a value customer occupancy will increase automatically, the reduction of marketing cost will be followed, and marketing efforts will be much more efficient. In introducing a new product it is still easier to diffuse through the existing customers, and also important market information can be obtained from customers using this close relationship. If this close relationship maintains well customers will say even a trivial inconvenience and complaint and propose an idea of new product. Kotler divides relationship marketing into 5 stages such as Basic, Reactive, Accountable, Proactive, and Partnership. From the 1st stage to the last stage customer management is absolutely important and also in management strategy. The last stage, Partnership can come into the stage which is actively participated in service development and problem solving by customers. so more loyal customers have more successful performance the company attain.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.1019-1022
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• 2007

Recent construction projects are becoming larger, more complex and higher rising. Accordingly, necessity of the VE is emphasized as more suitable for expense, function and quality. However, the VE is not functional because of difficulty of application process or of the methods in use in the field of construction. One of the alternative is to introduce the incentive system to activate the VE in the field of construction. By using the incentive system, employers can reduce the relevant project's prime cost and builders will maximize profit creation. In domestic case, they presented the systematic support policy 'Technical development compensation system' which is similar to the 1992 American's VE incentive system about builder's technical development effort but the result was not positive. This study investigates both domestic and other country's construction VE incentive system and reported problems in the construction VE incentive system to executives and construction VE experts. From this survey, conclusions were drawn about problems in the domestic construction VE incentive system's similarity system: 'Insufficiency of the construction VE incentive's article and standards', 'Insufficiency of the appraiser of the construction VE and of the full charge department' etc. I had interviews with the experts of the construction VE which were based on the above-mentioned problems and then presented 'Improvement of the construction VE's incentive system relevant law and system', 'Construction VE experts and construction formation' etc. for ways to bring acceptance of the construction VE in the construction industry.

• Journal of Distribution Science
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• v.12 no.8
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• pp.113-121
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• 2014

Purpose - Recently, the number of corporations that practice environmental and social responsibility, besides engaging in traditional profit-seeking activities, has been growing steadily, as interest in Corporate Social Responsibility (CSR) is increasing. Recent research on CSR practices has identified the relationship between CSR activities and corporate value as one of the main issues in this respect. Considering that donations constitute a large proportion of a company's charitable activities, we considered the extent of donation expenses as a charitable activity in order to mitigate sample selection bias. Specifically, we analyzed the impact of donation expenses on firm value, while investigating if this impact varied in response to the level of corporate governance of firms. Research design, data, and methodology - We used non-financial firms listed on the Korean Stock Exchange, having their fiscal year end in December, and the sample period was 2006-2013. For the dependent variable, Tobin's q was used as the corporate value, and for the independent variable, donations were measured as the donation-expense-to-sales ratio. Corporate governance scores, as rated by the Korea Corporate Governance Service, were used to measure corporate governance levels because they consider the overall aspects of governance, including ownership structure, the board of directors, and the audit mechanism of individual companies. To examine the impact of donations on a company in relation to the level of corporate governance, we estimated regression models using the interaction terms of the governance dummy and donation variables. Then, we further estimated the regression models of two sub-samples that were classified according to the level of corporate governance. Similar to previous studies, the study uses variables that affect firm value, such as R&D expenditure, advertising expenses, EBITDA, debt-to-equity ratio, sales growth, company age, and company size as control variables. Results - The empirical results show that firm value significantly increased in response to an increase in donation expenses. Upon including the interaction terms of governance level dummy variables and donations, the coefficients of the interaction terms show significant positive values, while those of donation variables show significant negative values. In the strong governance sub-sample, the relationship between the donation expenses and corporate value was statistically positive (+) and significant. However, in the weak governance sub-sample, the relationship between the donation expenses and corporate value was statistically insignificant and negative (-). Conclusions - The empirical results suggest that donation expenses are significantly linked to an enhanced corporate value if firms have a good corporate governance structure. However, if the corporate governance structure is weak, the same relationship is not necessarily observed. The results of this study show that if a firm has high corporate governance, CSR practices enhance the company's reputation such that it has a positive (+) relationship with corporate value. If a firm has weak corporate governance, on the other hand, CSR practices are recognized as an agency cost and do not increase corporate value.

• Korean Journal of Comparative Education
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• v.27 no.1
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• pp.247-284
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• 2017

The purpose of this study is to analyze firm's motivation of participating and investing in apprenticeship in Germany and Korea, and to investigate institutional factors influencing firm's motivation. By comparing institutional factors of the two countries, it aims to drawing out policy implications for improving Korean apprenticeship. The main method for data collection was comprehensive literature review on international organizations, each countries' government and research institutes' policy materials, statistical data, research outputs and media resources related to each countries' apprenticeship. Considering whether firm's motivation for participating and investing in apprenticeship is production-oriented or investment-oriented, Germany is more inclined to investment motivation with firm's covering net cost during apprenticeship period. On the other hand, Korea is more inclined toward production orientation with firm's expectation of gaining net profit during the training period. Why is firm's training motivation different in these two countries? The author tried to find the reason from the difference of institutional factors of the countries by dividing institutional factors into 4 categories: context(tripartite relations, legal framework), input (flexibility of the system, government incentive), process(training contents, training duration, quality assurance), and output(completion/retention rate, apprentice's productivity). The key implication from the comparative analysis of institutional factors is that it is necessary to enforce companies to have "accountability" on the minimum critical elements, but also to ensure them to have "autonomy" on the rest of the elements.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.6
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• pp.143-154
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• 2018

This study is intended to look into the effects of SCM(supply chain management) competency and process improvement on operational performance in small and venture companies. To achieve this, a survey was empirically carried out to 179 small and venture manufacturing companies. The findings showed that the SCM competency had a significant effect on the process improvement and operational performance in small and venture companies, adopting all hypotheses. And the process improvement had a significant mediating effect on the relationship between SCM competency and operational performance in small and venture companies, adopting hypothesis 4. As for the findings, strategic alliance, technology development, competency concentration as SCM competencies and starting preparation, detailed planning, implementation management as process improvements were factors that have positive effects on quality performance, cost reduction and profit increase as operational performances in small and venture companies. In other words, the better process and performance by the maximized SCM competencies require selective input strategies for strategic alliance, technology development and competency concentration in small and venture companies. And for its early application and settlement, the starting preparation and detailed planning of business process within small and venture companies need to be jointly put in action under clear company-wide goal management. Consequently, the expected performance can be maximized when strict management and implementation lead to these attributes.

• Journal of Navigation and Port Research
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• v.44 no.6
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• pp.541-549
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• 2020

This study conducts differential analysis on the financial positions of Korean shipping companies before and after the bankruptcy of the H carrier, looking specifically at their financial ratios, profit and loss patterns, and other factors related to their financial operation. Firstly, it was discovered that major measures of financial health, such as average assets per carrier, were not affected by the bankruptcy of the H carrier. However, despite this, most carriers experienced large changes in profits and losses, with total sales and shipping revenues averaging 424.5 billion won and 381.7 billion won respectively before the bankruptcy, but falling by half to 252.1 billion won and 234.6 billion won after the bankruptcy. Additionally, charter revenues and expenses also dropped by more than half. EBIT/sales and pre-tax revenue margins were also heavily affected after the bankruptcy, with both figures averaging 8% and 3% respectively before the bankruptcy, but falling into the negative range at -2% and -8% post-bankruptcy, resulting in significant deterioration in operational profitability. The study concludes that there is an urgent need to establish a global sales network, improve cost structures, and consistently secure stable cargo in order to increase Korean carriers' profitability. Of all financial measures, liquidity and total asset efficiency were identified as the most severely-impacted by the H carrier bankruptcy, thereby requiring the most pressing policy addressing.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.3
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• pp.279-290
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• 2021

This study evaluated the economic feasibility of facility farms according to the introduction of the ultra-high density pot cultivation (UHDPC) for mango. The basic model was selected as a representative farmhouse case in the Jeonnam region, and seven scenarios for conventional crops were tested. The economic feasibility of crop switching was analyzed through partial budget analysis (PBA). The PBA analysis results were supplemented by adding a sensitivity analysis and a break-even point (BEP) analysis. As a result of the analyses, it was found that crop conversion was economical because the increase in the profit coefficient was greater than the increase in the loss coefficient due to the introduction of mango for all conventional crops. The economics of introducing mango was more sensitive to changes in gross income than to changes in cost items. The results show the detailed conditions of crop selection according to the conditions and preferences of individual farms by presenting the direction of increase and decrease by budget item and information on the amount of increase or decrease. In particular, the BEP analysis result, which is about half of the farms case, is significant in that it presents the minimum target value according to production and market risks.

• The Journal of the Korea Contents Association
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• v.21 no.6
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• pp.94-103
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• 2021

The purpose of this study investigates how game users' evaluation on a game company's CSR activities, perceived quality of game programs, and its brand assets affect the intention to game use. Specifically, this study tries to find out the causal relations among variables as testing the hypotheses. Firstly, the effect of users' evaluation on a game company's CSR activities and its qualities of game programs on the brand assets. Secondly, the effect of users' evaluation on a game company's CSR activities and its qualities of game programs on the intention to game use. Thirdly, the effect of users' evaluation on a game company's CSR activities, the qualities of game programs, and the brand assets on the intention to game use. 367 college students were administrated to the survey. The results indicate that game users' evaluation on economic, ethical, and philanthropic responsibilities, except legal one have an effect on brand assets and intention to game use. Specially, on effects of the three independent variables(CSR activities, perceived quality, and brand assets) toward intention to game use, ethical responsibility and brand loyalty have statistically significant. This result confirms that game company's board of directors should consider ethical company management as well as CSR activities not as cost but as investment for increasing company's business profit.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.3
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• pp.1-12
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• 2021

Technologies for an MVDC(medium voltage direct current) distribution system are being considered as an effective alternative to overcome the interconnection delay issues of PV systems. However, the implementation of a DC distribution system might lead to economic problems because of the development of DC devices. Therefore, this paper deals with the scale of a PV plant based on its capacity and proposes hosting-capacity models for PV systems to establish a network to evaluate the feasibility of an MVDC distribution system. The proposed models can be classified as AC and DC distribution systems by the power-supply method. PV systems with hundreds of MW, dozens of MW, and a few MW can be categorized as large-scale, medium-scale, and small-scale models, respectively. This paper also performed modeling for an economic evaluation of MVDC distribution system by considering both the cost of AC and DC network construction, converter replacement, operation, etc. The profit was composed of the SMP and REC rate of a PV plant. A simulation for economic evaluation was done for the MVDC distribution system using the present worth and equal-principal costs repayment method. The results confirmed that the proposed model is a useful tool to evaluate economic issues of a DC distribution system.

• Korean Journal of Construction Engineering and Management
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• v.23 no.5
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• pp.108-116
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• 2022

Started in 1989 as Public Permanent Rental Housing scheme, public rental housing lease policy is increasing target residents and supply in each government by introducing new supply types. However, public housing business entities have difficulties in expanding the supply due to cumulated deficit. The research suggested long-term public rental housing reconstruction business as a method to preserve the cumulated deficit from the previous. Minimum floor area ratio mathematical model was suggested by defining the floor area ratio of reconstruction business as minimum, since housing sales profit after reconstruction could preserve aggregated deficit, and mathematically approached by considering the traits of long-term public rental housing reconstruction. The determinant for minimum floor area ratio mathematical model comprise cumulated deficit of the existing long-term public rental housing, land size of reconstructed sale housing, housing sales price per unit area, and business cost per unit area. Minimum floor area ratio mathematical model is expected to be the milestone for supporting decision making regarding the economic part of old long-term public lease housings' reconstruction scale, and expanding housing supply within urban area.