• The Journal of the Korea Contents Association
• /
• v.12 no.4
• /
• pp.401-406
• /
• 2012

Shanghai Stock Exchange is the largest stock exchange of emerging markets that there were listed firms 905, listed securities 1,537, listed stocks 949, total number of listed stocks 2 trillion 2000 billion shares. There is more development that is expected to occur in the future. The purpose of this study is to find determinants of capital structure to listed manufacturing firms in Shanghai Stock Exchange using multiple regression. Conclusions of this study are summarized as follows. First, firm size is positively related to debt ratio significantly at 1% significance level.. Second, the profitability is negatively related to debt ratio significantly at 1% significance level. Third, the growth ability is positively related to debt ratio significantly at 1% significance level. fourth, cash flow, the largest shares ownership, negotiable shares ratio are negatively related to debt ratio but they are not significant statistically. The result of this study provides information for investors and can be utilized to improvement of financial structure.

• Journal of the Korean association of regional geographers
• /
• v.14 no.3
• /
• pp.239-253
• /
• 2008

This paper aims to explore the viability of a rural-industrial complex neighbouring in the metropolitan area and suggest policy implications for the restructuring of the rural industrial complex. In particular, the paper focuses on the location and management practices of the firms operating in the industrial complex. Research shows that the key elements of the viability of the rural industrial complex in Koryung-Gun are the geographical and relational proximities to the metropolitan city of Daegu and the decentralization of urban industries towards rural areas neighbouring in the large city as a result of the deterioration of location conditions in the large city. It is revealed that the major pull factors of location are 'availability of cheap industrial sites', 'agglomeration in a specialized industry' and 'proximity to major customers and suppliers' rather than 'availability of labour pool'. However, it shows that 'weak university-industry linkages' and 'insufficiency of cooperation culture' are the major limitations to attracting firms. In the context of pub1ic policy, the author argues that the restructuring of the rural industrial complex should be sought to promote social infrastructures centered on networks and learning rather than firm centered financial and tax incentives.

• Journal of Distribution Science
• /
• v.13 no.2
• /
• pp.105-112
• /
• 2015

Purpose - There is a recent social trend that is focused on the revitalization of business-founding. Business-founding now has an important impact on the progress of the national economy because of youth unemployment and an increase in baby-boom generation retirees. However, the support and infrastructure required for business-founding of the disabled are very insufficient. Since most supporting policies are on youth or middle-aged business-founding, business-founding by the disabled and the socially weak is losing competitiveness. Accordingly, this study diagnosed the issues by analyzing the current status of business-founding by the disabled and suggested a fostering direction for the advance of business-founding by the disabled. An idea for the founding of various business items is required for the competitiveness of business-founding by the disabled and the establishment of a growth-model based on marketing is required so that business-founding by the disabled would advance toward commercialization with growth potential. Research design, data, and methodology - Regarding the study method, the existing study literature on the status and issues in business-founding was mainly explored. In addition, the existing literature on the status and issues in business-founding by the disabled was also studied. The support on business-founding by the disabled by policy enforced by the 'Welfare Service Agency for the Disabled'and the support of related agencies including financial support on the commercialization of business-founding by the disabled were also examined. Results - Existing studies on business-founding by the disabled are very insufficient. It is very difficult to study a viable business-founding by the disabled fostering policy without thorough learning on the difficulties of business-founding by the disabled. Therefore, this study suggested a direction for the resolution of various issues such as market, funds, item, operational matters, and service by analyzing the difficulties in business-founding by the disabled until now. Particularly, this study suggested that building a commercialization model from the aspect of marketing strategy and the effort to change the growth aspect of the disabled into competitiveness are essential. Conclusions - This study examined the aspect of developing an item-development process for the growth and founding of disabled-owned businesses and the requirement of a government support system by multiple policies. Since the number of studies on business-founding by the disabled is very small, it is expected that this study would become an important study in the field of business-founding by the disabled. The revitalization of business-founding by the disabled substantially contributes to the progress of the state of the economy and continuous interest is required from the viewpoint of equal advance in the society. Success models in business-founding by the disabled should be created continuously and active publicizing of them to the disabled business-founders by analyzing the success cases would also be required. In addition, it is believed that a market entry strategy by way of a win-win strategy and cooperative relation with big companies should be also developed in the future.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.18 no.11
• /
• pp.390-398
• /
• 2017

In this study, we conducted a questionnaire survey for the purpose of finding a method of mobile sector ecosystem activation targeted at small and medium businesses (SMBs). Through the total of 204 responders consisting of business employees from each mobile sector, we analyzed the factors inhibiting the development of the mobile ecosystem and preventing the activation the mobile market, as well as conducting a diagnosis of the digital potential. This paper presented suggestions for searching for a systematic supporting strategy considering the short-term inhibitory factors (market structure improvement, financial support, etc.) and long-term orientation factors (personnel nurturing, strengthening of supporting role by governmental initiative) for the activation of the domestic mobile market. After measuring the digital potential, we found that domestic mobile SMBs have perceived the importance of the digital potential and have considered and readied themselves for the future market. The present survey found that if suitable digitalization can be accomplished for their firms' products and services, they have the ability and willingness to succeed in the market. However, they have a hard task ahead of them from adigital delivery perspective given the potential for digital disruptions.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.11 no.4
• /
• pp.1419-1429
• /
• 2010

Industry structure and environment of the domestic bank have been changed by an influx of large foreign-banks and advanced financial products when the currency crisis erupted in Korea. In a competitive environment, accurate forecasts of changes and tendencies are essential for the survival and development. Forecast of whether to approve loan applications for customer or not is an important matter because that is related to profit generation and risk management on the bank. Therefore, this paper proposes the method to improve forecast accuracy of loan underwriting. Processes in experiments are as follows. First, we select the predictor variables which affect significantly to the result of loan underwriting by correlation analysis and feature selection technique, and then cluster the customers by the 2-Step clustering technique based on selected variables. Second, we find the most accurate forecasting model for each clustering by applying LR, NN and SVM. Finally, we compare the forecasting accuracy of the proposed method with the forecasting accuracy of existing application way.

• Journal of Korea Technology Innovation Society
• /
• v.19 no.3
• /
• pp.545-571
• /
• 2016

The development of ICT brings a big change in manufacturing industries, and new information technology such as IoT, AR, and big data was applied on manufacturing process. As a result, the concept of smart factory has been introduced as a new manufacturing paradigm. In fact advanced countries like USA, Germany, and Japan have actively introduced smart factory in their manufacturing industries such as electronic, automobile, machinery, to improve production efficiency and quality. The manufacturing environment has been changed into flexible system, so that smart factory will be leading future manufacturing industries. Thes changes have more severe influence on Korean manufacturing industries. Mny industrial companies, have a strong interest in smart factory and they, particularly big enterprises, have been adopting smart factory to increase their manufacturing efficiencies. However, Korean small and medium-sized enterprises (SMEs) have many financial and technological difficulties so that the diffusion of smart factory in Korean SMEs has not been satisfiable up to present. However, smart factory is very important for enhancing their competitiveness in global market. Therefore, this study aims at identifying the standardization strategy of smart factory in so-called Korean 'roots industry' by presuming that the standardization will activate the diffusion of smart factory among Korean SMEs. For this purpose, first, this study examines the competitiveness of SMEs, especially in 'roots industry' and identifies the necessity of diffusion of smart factory among those SMEs. Second, based on the active review on the existing literature, this study identifies four factor groups that would influence the adoption or diffusion of standardized smart factory. They are technological, organizational, industrial and policy factors. Third, using those four factors, this study made two comprehensive case analyses on the adoption and diffusion of smart factory. These two companies belong to molding sector which is one of the important six sectors in 'root industry'. Finally, based on the theoretical and empirical analyse, this study suggests four strategies for activating the standardization of smart factory; international standardization, government-leading standardization, firm-leading standardization, and non-standardization.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.17 no.7
• /
• pp.740-748
• /
• 2016

IT and communication technologies has contributed significantly to the convenience of passengers and the financial management of stations in accordance with the task automation in the field of the urban railway system. The foundation of the above development is based on the large amounts of data from various sensors installed in railways, trains, and stations. In particular, the sensor network that is installed in the station and train has played an important role in the railway information system. The performance of AP is affected by the number of APs and their locations installed in the station. In the installation of APs in stations, the intensity of the radio wave of the AP on its underlying position is considered to determine the number and position of APs. This paper proposes a method to estimate the number of APs and their position based on the structure of the underlying station and implemented a simulator to simulate the performance of the proposed method. The implemented simulator was applied to the decision of AP installation at Busan Seomyeon station to evaluate its performance.

• Journal of Distribution Science
• /
• v.11 no.12
• /
• pp.25-37
• /
• 2013

Purpose - The structure of retailing has changed as retailers develop markets in response to business environment changes. This study aims to analyze the general situation of retailers in order to predict future global strategy using case studies of overseas expansion strategy and the Metro Group's global strategy. Research design, data, and methodology - The backgrounds to the new retail business model and retailer classification are analyzed as theoretical data. In addition, the key success point of the Metro Group's "cash and carry" strategy is analyzed as is the Metro Group's global CFAR (collaborative planning, forecasting, and replenishment) strategy. Finally, the plan for cooperation and precise forecasting under the Metro Group's supply chain management are analyzed from the promotion environment viewpoint. Related materials analyzed included the 2012 annual report, the Metro Group's web page, and a video interview with the executive in charge of global strategy and the new market development department. Some data were revised to avoid disrupting essential aspects of the case studies. Results - The important finding was that the Metro Group could be a world-class retail company with its successful global expansion strategy. The Metro Group's global strategy's primary goal is to have a leading business position in Eastern and Western Europe. The "cash and carry" strategy is highest priority in its overseas expansion strategy. Moreover, the Metro Group has standardized product planning capacity, which could be applied in various countries with different structural and cultural backgrounds. This is the main reason that the Metro Group could rapidly become successful in the Eastern Europe and Asian markets through its structural overseas expansion strategies. In addition, the Metro Group emphasizes the importance of supply chain management. Conclusions - First, retailers should create additional value through utilizing the domestic market, market power, and economies of scale to launch a global strategy to maximize benefits from diversification. Second, the political, economic, and cultural background of the target country needs to be understood to successfully implement the overseas expansion strategy. Third, the main factor of successful cooperation with a local partner is how quickly the company gains total understanding of the business resources and core competence of its partner. All organizations should focus on the achievement of goals in order to successfully operate the partnership. Fourth, retailers should improve their business, financial and organizational structure. Moreover, the work processes and company culture should also be improved to respond strongly in the competitive global market. Fifth, the essential point of a successful retail business is the control capacity of its branding and format. The retailer could avoid forecasting errors through supply chain management by perfectly distributing the actual amount of its inventory. In addition, the risks along the supply chain are effectively shared between the supply chain partners. Finally, the central tendency of the market is to gain in strength with this taking place across all parts of the business.

• Strategy21
• /
• s.42
• /
• pp.5-52
• /
• 2017

Debates about introducing nuclear submarines have been a main issue in Korea. The highest officials and the government has started to think seriously about the issue. Yet there were no certain decision to this issue or any agreements with US but it is still necessary to review about introducing nuclear submarines, the technologies and about the business. The reason for such issues are the highest officials of Korea to build nuclear submarine, nK's nuclear development and SLBM launching. ROKN's nuclear submarine's necessity will be to attack(capacity to revenge), defend(anti-SSBN Operation) and to respond against neighboring nation's threat(Russia, Japan, China). Among these nations, US, Russia (Soviet Union), Britain, France had built their submarines in a short term of time due to their industrial foundation regarding with nuclear propulsion submarines. However China and India have started their business without their industrial foundation prepared and took a long time to build their submarines. Current technology level of Korea have reached almost up to US, Russia, Britain and France when they first built their nuclear propulsion submarines since we have almost completed the business for the Changbogo-I,II and almost up to complete building the Changbogo-III which Korea have self designed/developed. Furthermore Korea have reached the level where we can self design large nuclear reactors and the integrated SMART reactor which we can call ourselves a nation with worldwide technologies. If introducing the nuclear submarine to the Korea gets decided, first of all we would have to review the technological problems and also introduce the foreign technologies when needed. The methods for the introduction will be developments after loans from the foreign, productions with technological cooperations, and individual production. The most significant thing will be that changes are continuous and new instances are keep showing up so that it is important to only have a simple reference to a current instances and have a review on every methods with many possibilities. Also developing all of the technologies for the nuclear propulsion submarines may be not possible and give financial damages so there may be a need to partially introduce foreign technologies. For the introduction of nuclear propulsion submarines, there must be a resolution of the international regulations together with the international/domestics resistances and the technological problems to work out for. Also there may be problem for the requirement fees to solve for and other tough problems to solve for. However nuclear submarines are powerful weapon system to risk everything above. This is an international/domestically a serious agenda. Therefore rather than having debates based on false facts, there must be a need to have an investigations and debates regarding the nation's benefits and national security.

• Journal of Korea Technology Innovation Society
• /
• v.10 no.1
• /
• pp.1-21
• /
• 2007

Among numerous policy influencers' and researchers' advices and policy suggestions, there is little opposition to the proposition that technology is essential to the economic development. The role of technology has never been more emphasized than today in Korea as in any other countries. The effects of the government's innovation policy on corporate R&D activities and more broadly the economic welfare of a whole nation are widely recognized with intuitional and empirical evidence. That is, various R&D incentives reduce the marginal cost of a firm's R&D efforts, inducing as much increase of its R&D investment to result in a better chance to acquire target technology. This paper examines the impact of R&D incentives on the technological outcomes by analyzing individual firms' investment behaviors subject to the government's R&D incentive policies. An econometric model of technological outcomes is estimated on a project level with cross-sectional data. "Probit model" is employed for estimations. Special attention was given to the effectiveness of R&D programs by estimating policy impact by types of investment. The data were collected from 928 different R&D projects completed between 1987 and 1993. With the single equation approach, we were able to find that the structure of investment is a far more significant factor in technological outcomes than the total amount of investment. The analysis also shows that the two types of firms' matching investment, in-kind and cash, do not bear a complementary, but a substitutive relations to each other. It also reconfirms the proposition that R&D incentives increase firm's financial investment. Despite many supportive studies emphasizing the cooperation between innovation performers, it is also found that the larger the number of institutions involved in a project, the less likely it leads to a technological success, And meeting the proposed deadlines without postponing is estimated to be a good barometer to predict the outcome of an R&D project. Also the probabilities of success for major variables are represented for policy implications, after calculating marginal effects.