• The Korean Society of Law and Medicine
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• v.22 no.4
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• pp.59-88
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• 2021

The National Assembly of the Republic of Korea recently enacted laws to fortify sanctions about data manipulation of pharmaceutical companies. The medicine approval system is the result of legislative efforts to prevent accidents that caused damages to patients' life and health. The medicine approval system is based on the trust that the data submitted by pharmaceutical companies is not manipulated. The Supreme Court of Korea clarified that strict standard shoud be required to secure the medicine safety in Supreme Court Decision 2008Du8628 decided November 13, 2008. We agree. This paper suggest legislation to weaken the economic incentives for pharmaceutical companies to choose data manipulation by minimizing the expected profit. In addition to revoking the marketing authorization of the medicine, the 'unfair' profits the pharmaceutical company has earned must be recovered. In addition, in order to increase the possibility to discover data manipulation, it is necessary to strengthen the review capacity and to activate the whistle-blowing.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.21 no.2
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• pp.116-131
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• 2022

With the recent progress of the 4th industrial revolution, the logistics industry is also making efforts to introduce smart logistics, and various attempts are being made to spread logistics informatization, which is the core of smart logistics. Among these, blockchain technology is considered as a technology that will contribute to the spread of logistics informatization and is being applied to various fields. Accordingly, in this study, to discuss the applicability of blockchain technology to the logistics industry, the characteristics of blockchain technology were defined, related cases were reviewed, and a survey was conducted on the possibility of application in the industry. Blockchain technology can be defined as having the characteristics of economic feasibility, speed, transparency in terms of work efficiency, and scalability, decentralization (decentralization), reliability (security) in terms of added value creation. It was confirmed that many are being introduced in the fields of distribution, finance, personal information, and public services. As a result of the survey on the logistics industry, it was confirmed that the level of informatization of the logistics industry had entered the stage of generating profits by using information, but the industry was passive in sharing and utilizing information due to concerns about information leakage. Nevertheless, the awareness and expectation of the need for informatization is high, and it is expected that the informatization of the logistics industry and realizing smart logistics based on it will advance one step further with the introduction of blockchain technology in the future.

• Korean small business review
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• v.43 no.1
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• pp.1-33
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• 2021

This study explores differential value implications of R&D expenditure across firms, especially in terms of growth potential of small businesses. Analyzing Korean listed firms for the period from 1982 to 2014, we document the followings. First, large firms, defined as the top quintile group based on market capitalization, have spent higher R&D expenditure compared to small (bottom quintile group) and medium (middle quintile groups) firms and the difference between groups has enlarged over time. Relatedly, the persistence of R&D spending, measured by the association between current R&D expenditure and cumulative future R&D expenditure over the next five years, is lowest in small firms. Second, R&D of large (small) firms are more (less) likely to generate operating profits over the next five years. Additional analyses suggest that the relation between R&D and gross margin is strongest in large firms, suggesting that R&D underlies their competitiveness in the product market. Third, small firms have borne the highest uncertainty related to R&D investment proxied by the association between current R&D and volatility of future earnings. As a result, the likelihood of R&D leading to future patents is also lowest in small firms. Fourth, the probability of moving up to the next size group within the next five years is significantly lower in small firms than others. Finally, we find that the divergence in R&D expenditure between large and small firms is positively associated with product market concentration. Overall, our findings confirm the small business growth trap in relation to R&D investment.

• The Journal of the Korea institute of electronic communication sciences
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• v.17 no.6
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• pp.1013-1024
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• 2022

In addition to the assessment measure of electric quality levels, load loss are also a factor in hindering the financial profits of electrical sales companies. Therefore, accurate analysis of load losses generated from distributed power networks is very important. The accurate calculation of load losses in the distribution line has been carried out for a long time in many research institutes as well as power utilities around the world. But it is increasingly difficult to calculate the exact amount of loss due to the increase in the congestion of distribution power network due to the linkage of distributed energy resources(DER). In this paper, we develop smart grid big data infrastructure in order to accurately analyze the load loss of the distribution power network due to the connection of DERs. Through the preprocess of data selected from the smart grid big data, we develop a load loss analysis model that eliminated 'veracity' which is one of the characteristics of smart grid big data. Our analysis results can be used for facility investment plans or network operation plans to maintain stable supply reliability and power quality.

• Resources Recycling
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• v.31 no.3
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• pp.40-52
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• 2022

This study analyzed the amount of carbon dioxide reduction and economic benefits of detailed processes of CO₂ 6,000 tons plant facilities with mineral carbonation technology using carbon dioxide and coal materials emitted from domestic circulating fluidized bed combustion power plants. Coal ash reacted with carbon dioxide through carbon mineralization facilities is produced as a complex carbonate and used as a construction material, accompanied by a greenhouse gas reduction. In addition, it is possible to generate profits from the sales of complex carbonates and carbon credits produced in the process. The actual carbon dioxide reduction per ton of complex carbonate production was calculated as 45.8 kgCO₂eq, and the annual carbon dioxide reduction was calculated as 805.3 tonCO₂, and the benefit-cost ratio (B/C Ratio) is 1.04, the internal rate return (IRR) is 10.65 % and the net present value (NPV) is KRW 24,713,465 won, which is considered economical. Carbon mineralization technology is one of the best solutions to reduce carbon dioxide considering future carbon dioxide reduction and economic potential.

• Journal of Korea Port Economic Association
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• v.38 no.2
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• pp.95-107
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• 2022

Shipping companies earn profits through cargo transportation, and therefore, investment decisions to purchase ships are more important than anything else. Nevertheless, the cash flow discount method was mainly used in the economic analysis method, which assumes that all situations are static. This study shows that the real option model is useful in the economic analysis of ship investment. This economic analysis took into account the irreversibility of investment and uncertainty of benefits. In particular, this study used a binary option price determination model among real options. In addition, the simulation was conducted using actual investment data of A shipping company. As a result of the analysis, the investment value of used ships according to the net present value method was analyzed as negative (-), but the investment value in the real option model reflecting the flexibility of decision-making was evaluated as having positive (+) economic feasibility. It was analyzed that economic feasibility is affected by profit volatility and discount rate. Therefore, this study is expected to help shipping companies make more flexible decisions by using the real option model along with the existing net present value method when making ship investment decisions.

• Korean Association of Arts Management
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• no.53
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• pp.153-177
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• 2020

Arts organizations commonly face a range of operational challenges, from a lack of skilled workers to limited financial resources and thus are dependent on subsidies from the government. Yet, to fully realize their mission arts organizations must both develop strategies to effectively utilize government support and seek a way forward that does not depend on public subsidies. Business diversification, a strategy from corporate management, entails the expansion of products and services, and entry into new industries, enabling companies to disperse risks and increase profits. We propose that business diversification can be effectively applied to arts organization to address the myriad operational difficulties they face. To understand how an arts organization might deploy business diversification we conducted a case study of an organization that is actively pursuing the strategy: Sanwoollim Theater. We interviewed staff members of Sanwoollim including the executive director, as well as selected audiences, to understand how the business diversification model was being applied at Sanwoollim. Our findings indicate that, in a complex arts and cultural space, business diversification is a fresh and flexible new strategy that can enable private cultural arts organizations to thrive sustainably. It is also evident that government support in the initial stages of the process encourages diversification and that successful private arts organizations will leverage government subsidies into a sustainable business plan.

• Korean Association of Arts Management
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• no.56
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• pp.89-117
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• 2020

In order to secure sustainable financial resources and to attract more key supporters, today's art museums are trying to further develop individual sponsorship. The purpose of this study is to explore the direction of membership programs by considering membership as the first step for the development of individual supporters for art museums. Although it is not easy to generate substantial profits within a short period through membership, art museums can secure supporters who empathize with and participate in their mission and activities by developing individual supporters through membership. The new trends of support, which has emerged as a stream of "new philanthropy" since the 1990s, indicate that the needs and motivations of individual supporters are changing. This has great implications for the direction of the development and operation of membership programs at art museums. This study investigated the role, method, and direction of the development of individual supporters through membership by conducting a theoretical review and a case study on the membership programs and individual sponsors of art museums. In addition, the study analyzed the cases of the Cleveland Museum of Art, the Art Institute of Chicago, and the Museum of Modern Art in the United States, which have continuously attempted new approaches and improved membership programs based on a long history of membership operation and individual support, by centering on the new attributes of philanthropy, including participation and involvement, accountability, and transparency. Based on the results, implications and suggestions for Korean art museums were derived. Amid the lack of art museums' membership programs and academic research, this study has significance in exploring the direction and prerequisites for membership for the development of individual supporters.

• Journal of Industrial Convergence
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• v.20 no.9
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• pp.11-24
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• 2022

The average age of CEOs of the small and medium-sized enterprises(SMEs) in Korea is 58.8, and discussions are actively underway regarding the support towards the succession companies. Government authorities are also operating a system to support the succession companies, and recently global support is also being demanded. In order to have justification over the support for succession companies, the fact that it greatly contributes to the revitalization of the national economy and the regional economy must be acknowledged in advance. This study analyzed the degree of corporate succession revitalization of the national and regional economy through statistical and empirical analysis. With the purpose to secure the reliability of the analysis, the study has referred to the database of the "Integrated Management System for Small Business Recruitment Project" and the Korea Enterprise Data (KED), which can be the most differentiated aspect compared to the existing research of the past. According to the analysis, it shows that the old companies' performance is significantly higher than the general companies in terms of sales, number of employees, assets, and operating profits⋯etc. The management performance of the old companies (which lasted over 30 years) more than doubles the performance of the start-ups (with less than 10 years of experience) in sales, triples the number of employees, doubles the assets, and more than doubles the operating profit. Thus, it is seen that the contribution to the overall economy is significant. Additionally, as a result of the empirical analysis of the relationship between the regional old companies and the regional economic revitalization, the non-metropolitan area shows better performance than the metropolitan area in terms of the number of employees, assets, borrowings, and rent, which entails policy implications of the polarization between the metropolitan and non-metropolitan areas. In other words, it is found that old companies make a significant contribution to revitalizing the local economy, suggesting that further policies regarding corporate succession are required to support the old companies in the future.

• Industry Promotion Research
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• v.7 no.3
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• pp.1-8
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• 2022

Many companies are operating and introducing the research results that corporate counseling contributes to corporate profits and improves the effective welfare of workers. This study was conducted targeting business management experts. As a research question, first, is there a difference in perception among business management experts about business counseling? Second, what is an important marketing 7P mix for revitalizing corporate counseling? Third, there will be differences in the importance of the 7P mix for marketing among business management experts. The results of the quantitative study are as follows. First, business management experts had a positive perception about the intention and necessity of corporate counseling, and marketing was higher than production management by field. The consultation model prefers an external model, and medium-sized enterprises and small and medium-sized enterprises are selected as target companies, and service and manufacturing industries are selected as target industries. The topics are recognized as interpersonal relationships and job stress. Second, price mix, product mix, people mix, and process mix are recognized as important marketing mixes, but companies consider the price mix the most important. Third, there was a difference between corporate management experts in the promotion mix and process, and marketing recognized the promotion mix as important and the process mix was important for financial management. However, there is no difference in the mixes by field except for this, so it can be said that the perception of the marketing mix is similar. Through this study, it is meaningful to present the implications of the marketing mix for awareness and activation of corporate counseling from the corporate point of view.