• Asia pacific journal of information systems
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• v.14 no.1
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• pp.23-41
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• 2004

This paper proposes an empirical evidence about contextual factors which determine perceived business performances of small firms resulted from IT investment. In this paper, small firms are defined as firms of which total employees are below fifty. These small firms account for 95% of total number of private companies in Korea. We used a perceived IT performance model based on Balanced Scorecard framework to evaluate IT performance of small firms. And data were collected by Web and e-mail survey method with multiple screening. Statistical results show that business performance of small firms are differentiated in terms of firm size, location, longevity, age of owner, education level of owner, while industry sector, profitability, sex of owner don't make significant differences.

• International Area Studies Review
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• v.17 no.4
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• pp.43-63
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• 2013

This paper investigates the impact of free trade agreement (FTA) on the performance of Korea's foreign direct investment (FDI) firms. We use plant- and firm-level data to examine the trends of FDI patterns of Korean firms between 2002 and 2010 by dividing firms based on their sizes - large and small firms. Analyzing firms' FDI activities worldwide, we find that small firms account for large share of investment cases especially in countries where FTA became effective with Korea during our sample period. Using these facts, we estimate the changes of productivity and performance of large and small firms and their foreign affiliates before and after FTA became effective. Our results show that FTA increases productivity of small firms and their foreign affiliates after its formation. In particular, we provide evidence that productivity improvement by small firms and their foreign affiliates may result from an increase in production and capital during FTA period.

• Land and Housing Review
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• v.14 no.4
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• pp.47-62
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• 2023

Using the dynamic panel model, this study investigates rent determinants for small and medium-sized office buildings in Korea's CBD and Gangnam areas, key business districts. The results reveal that rents for small and medium-sized office buildings in CBD and Gangnam areas are influenced by macroeconomic fluctuations and characteristics of buildings and locations, suggesting a market with both spatial consumer and investment goods attributes. There are several investment implications as follows. First, even if the location in the CBD area is advantageous, the practical limitations in renovating aging small and medium-sized office buildings must be taken into account when investing. Second, parking conditions are a key factor influencing rent prices in CBD areas, so evaluating the parking facilities and improvement potential of small and medium-sized office buildings is essential for investors. Finally, due to the high sensitivity of Gangnam's small and medium-sized office market to macroeconomic trends, it's vital to prioritize monetary policy shifts as a key factor in investment decisions.

• Industrial Engineering and Management Systems
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• v.15 no.1
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• pp.63-76
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• 2016

Multiperiod portfolio selection problem attracts more and more attentions because it is in accordance with the practical investment decision-making problem. However, the existing literature on this field is almost undertaken by regarding security returns as random variables in the framework of probability theory. Different from these works, we assume that security returns are uncertain variables which may be given by the experts, and take absolute deviation as a risk measure in the framework of uncertainty theory. In this paper, a new multiperiod mean absolute deviation uncertain portfolio selection models is presented by taking transaction costs, borrowing constraints and threshold constraints into account, which an optimal investment policy can be generated to help investors not only achieve an optimal return, but also have a good risk control. Threshold constraints limit the amount of capital to be invested in each stock and prevent very small investments in any stock. Based on uncertain theories, the model is converted to a dynamic optimization problem. Because of the transaction costs, the model is a dynamic optimization problem with path dependence. To solve the new model in general cases, the forward dynamic programming method is presented. In addition, a numerical example is also presented to illustrate the modeling idea and the effectiveness of the designed algorithm.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.3
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• pp.191-202
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• 2017

KONEX (Korea New Exchange) is the organised stock exchange for small enterprises. It is a channel through which venture start-ups at their early stage can raise funds without a huge burden of debt. We explain the regulations in this market and examine the effects of major changes in the relevant regulations. The first change was replacing the call auction mechanism with the continuous auction mechanism. The change improved the information asymmetry among investors. The second was lowering the minimum deposit requirement for individual investors from 300 million won to 100 million won. As the result of the change, market liquidity increased a lot and the number of investors increased. The last change was introducing the small investment account. Although this raised the participation of individual investors but did not lead to the improvement in market liquidity or information asymmetry. In overall, encouraging more investors to participate in the transactions in KONEX is the fast way to boost the market, while the long-term strategy should focus more on improving the information asymmetry by helping information generating and transferring activities.

• Korean Journal of Agricultural Science
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• v.31 no.2
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• pp.135-148
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• 2004

Rice is not only main food but also key farm income source of Korean farmers. In spite of the above facts, rice productivity was decreased on account of drought in every 2 or 3 years interval owing to the vulnerability of irrigation facilities throughout Korea in the past decades. As an context of the first five year economic development plan, all weather farming programme including 4 big river basin comprehensive development projects and large and medium sized irrigation water development projects were carried out successfully. Therefore the area of irrigated paddy were increased from 58% in 1970 to 76.2% in 1999. In the past decades, the Government had invested heavy financial funds to develop irrigation water but as an factor share analysis, the contribution rates of irrigation water and investment for farmland base development project have not been identified yet in national agricultural economic level. It is very scarce to find out the papers concerned to macro-economic factor share analysis or contribution rates of water and investment cost to rice production value in Korea considering the production function of the quantity of irrigation water and investment cost as independent variables. Accordingly this paper covered and aimed at identifying (1) derivation of rice production function with the time serial data from 1965 to 1999 and the contribution rates of irrigation water and total investment cost for farmland base development project. The analytical model of the contribution rates was adapted the famous Cobb-Douglass production function. According to the model analysis, the contribution rate of irrigation water to rice production in Korea was shown 37.8% which was equivalent to 0.28 of the production elasticity of water. The contribution rate of farmland base development project cost was revealed 22% and direct production cost of rice was contributed 60% in the growth of rice production and farm mechanization costs contributed to 18% of it respectively. The two contribution rates comparing with the direct production cost were small but without irrigation water and farmland base development, application of high-pay off inputs and farm mechanization might be impossible. Considering the food security and to cope with the frequent drought, rice farming and investment for the irrigation water development should be continued even in WTO system.

• Journal of Ocean Engineering and Technology
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• v.27 no.1
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• pp.51-58
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• 2013

Recently, there has been an increase in the demand for natural gas as a source of clean energy, which has increased the demand for LNG carriers. However, LNG carriers require a capital investment to obtain equipment for the regasification process, which prevents fires and explosions. Thus, on account of NIMBY, a CNG carrier is suggested that eliminates the need for regasification equipment. Meanwhile, carbon dioxide emissions are more and more regulated by international conventions such as the Kyoto Protocol. Because of this, $CO_2$ carriers have also received international attention as a methodology to transport and store $CO_2$ cargoes. Several vessels or tanks to transport and store $CO_2$ gas have been studied in various countries. This paper proposes a conceptual design for a 20ft container shaped tank to effectively transport small cargoes of $CO_2$ and CNG. The proposed pressure vessel or tank will be carried by a conventional containership or special cargo ship. The influences of the design parameters for proposed pressure vessel or tank. Including the materials, scantlings, and shape of the pressure vessel, are studied theoretically and computationally.

• Journal of Distribution Science
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• v.14 no.10
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• pp.147-152
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• 2016

Purpose - High quality films are affected by both the production stage and various variables such as the size of the movie investment and marketing that changes consumers' perceptions. Consumer preferences should be recognized first to ensure that the movie is successful. If a film is produced without pre-investigation and analysis of consumer demand and taste, the probability of success will be low. This study investigates the balance of production costs, marketing costs, and profits using game theory, suggesting an optimization strategy using the simplex method of linear programming. Research design, data, and methodology - Before the release of the movie, initial demand is assumed to be driven largely by marketing costs. In the next phase, demand is assumed to be driven purely by a movie's production cost and quality, which might also further determine consumer demand. Thus, it is essential to determine how to distribute pure production costs and other costs (marketing) in a limited movie production budget. Moreover, it should be taken into account how to optimally distribute under the assumption that the audience and production company's input resources are limited. This research simplifies the assumptions for large-scale and relatively small-scale movie investments and examines how movie distribution participant profits differ when each cost is invested differently. Results - When first movers or market leaders have to choose both quality and marketing, it has been proven that pursuing a strategy choosing only one is more likely than choosing both. In this situation, market leaders should maximize marketing costs under the premise that market leaders will not lag their quality behind the quality of second movers. Additionally, focusing on movie marketing that produces a quick effect while ceding creative activity to increase movie quality is a natural outcome in the movie distribution environment since a cooperative strategy between market competitors is not feasible. Conclusions - Government film development policy should ignore quality competition between movie production companies and focus on preventing marketing competition. If movie production companies focus on movie production quality improvement then a creative competition would ensue.

• Journal of the Korea Furniture Society
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• v.27 no.3
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• pp.237-245
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• 2016

Single households currently account for 26.5% of all households and their number is expected to continue to rise, reaching 34.5% by 2035. An analysis of the consumption trends and needs of single households shows that they are rising as a new consumer group with a focus on investment on the individual and favouring: small but high-tech products: efficient use of limited resources: safety and peace of mind: self-improvement and leisure. Products which meet such demands are having an impact on the growth of home-furnishing market. An analysis of companies in Korea's home-furnishing market, with examples like the lifestyle company IKEA, shows a variety of brands such as SPA brand, furniture specialist, distributor and character products. And yet most are OEM products which lack differentiated product lines and compete with similar display and distribution structure. We needs the Single household consumption tendency of home-furnishing market and differentiation strategy through product analysis. In order to increase the value of companies in the home-furnishing market, in addition to differentiated design, product competitiveness must aspire to higher customer satisfaction with easy assembly, innovation in logistics, innovative sales methods such as virtual-reality simulation for products and space, individually-tailored furniture for the needs of single household and products which combine smart technology. For home-grown home-furnishing brands to have competitiveness, they must leverage on the strengths of the industry, offering differentiated and competitive products in a wider range of areas with convergence functions as well as differentiation in consumer interface and application of advancing technology; in-depth product research is called for.

• Journal of the Korean Association of Geographic Information Studies
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• v.26 no.4
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• pp.97-115
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• 2023

In recent years, the structure of the population has been changing rapidly, with a declining birthrate and aging population, and the inequality of population distribution is expanding. At this point, changes in population estimation methods are required, and more accurate estimates are needed at the subregional level. This study aims to estimate the population in 2040 at the 500m grid level by applying an explainable machine learning to Busan in order to respond to this need for a change in population estimation method. Comparing the results of population estimation by applying the explainable machine learning and the cohort component method, we found that the machine learning produces lower errors and is more applicable to estimating areas with large population changes. This is because machine learning can account for a combination of variables that are likely to affect demographic change. Overestimated population values in a declining population period are likely to cause problems in urban planning, such as inefficiency of investment and overinvestment in certain sectors, resulting in a decrease in quality in other sectors. Underestimated population values can also accelerate the shrinkage of cities and reduce the quality of life, so there is a need to develop appropriate population estimation methods and alternatives.