• Asia-Pacific Journal of Business
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• v.15 no.1
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• pp.179-192
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• 2024

Purpose - The purpose of this study is to examine the effect of entrepreneurial experience, business model innovation and financing on new venture performance. Design/methodology/approach - This study analyzes survey data on new ventures in Korea and investigated research hypothesis by multiple regression analysis. Findings - Founders' prior startup experience have different impacts on performance depending on whether they had a successful or failed startup. Successful experience has a positive impact on early performance, while failure experience has a negative impact. Business model innovation shows a positive and significant relationship with early performance. External financing has different effects depending on the type of funding source and performance variables. VC funding is positively related to employment creation, while government R&D funding is negatively related to sales volume. Research implications or Originality - This study confirms that the impact of entrepreneurial experience on early performance varies depending on the characteristics of successful and unsuccessful entrepreneurs. It also empirically confirms that business model innovation has a significant impact on early performance. We empirically examine the relationship between various external financing sources of venture firms and early performance. Since the effects of entrepreneurial experience, business model innovation, and external financing on early stage performance may be different, entrepreneurs should consider these relationships when pursuing early stage business opportunities.

• Journal of Intelligence and Information Systems
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• v.24 no.3
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• pp.67-88
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• 2018

Until recently, as we recognize the significance of sustainable growth and competitiveness of small-and-medium sized enterprises (SMEs), governmental support for tangible resources such as R&D, manpower, funds, etc. has been mainly provided. However, it is also true that the inefficiency of support systems such as underestimated or redundant support has been raised because there exist conflicting policies in terms of appropriateness, effectiveness and efficiency of business support. From the perspective of the government or a company, we believe that due to limited resources of SMEs technology development and capacity enhancement through collaboration with external sources is the basis for creating competitive advantage for companies, and also emphasize value creation activities for it. This is why value chain network analysis is necessary in order to analyze inter-company deal relationships from a series of value chains and visualize results through establishing knowledge ecosystems at the corporate level. There exist Technology Opportunity Discovery (TOD) system that provides information on relevant products or technology status of companies with patents through retrievals over patent, product, or company name, CRETOP and KISLINE which both allow to view company (financial) information and credit information, but there exists no online system that provides a list of similar (competitive) companies based on the analysis of value chain network or information on potential clients or demanders that can have business deals in future. Therefore, we focus on the "Value Chain Network System (VCNS)", a support partner for planning the corporate business strategy developed and managed by KISTI, and investigate the types of embedded network-based analysis modules, databases (D/Bs) to support them, and how to utilize the system efficiently. Further we explore the function of network visualization in intelligent value chain analysis system which becomes the core information to understand industrial structure ystem and to develop a company's new product development. In order for a company to have the competitive superiority over other companies, it is necessary to identify who are the competitors with patents or products currently being produced, and searching for similar companies or competitors by each type of industry is the key to securing competitiveness in the commercialization of the target company. In addition, transaction information, which becomes business activity between companies, plays an important role in providing information regarding potential customers when both parties enter similar fields together. Identifying a competitor at the enterprise or industry level by using a network map based on such inter-company sales information can be implemented as a core module of value chain analysis. The Value Chain Network System (VCNS) combines the concepts of value chain and industrial structure analysis with corporate information simply collected to date, so that it can grasp not only the market competition situation of individual companies but also the value chain relationship of a specific industry. Especially, it can be useful as an information analysis tool at the corporate level such as identification of industry structure, identification of competitor trends, analysis of competitors, locating suppliers (sellers) and demanders (buyers), industry trends by item, finding promising items, finding new entrants, finding core companies and items by value chain, and recognizing the patents with corresponding companies, etc. In addition, based on the objectivity and reliability of the analysis results from transaction deals information and financial data, it is expected that value chain network system will be utilized for various purposes such as information support for business evaluation, R&D decision support and mid-term or short-term demand forecasting, in particular to more than 15,000 member companies in Korea, employees in R&D service sectors government-funded research institutes and public organizations. In order to strengthen business competitiveness of companies, technology, patent and market information have been provided so far mainly by government agencies and private research-and-development service companies. This service has been presented in frames of patent analysis (mainly for rating, quantitative analysis) or market analysis (for market prediction and demand forecasting based on market reports). However, there was a limitation to solving the lack of information, which is one of the difficulties that firms in Korea often face in the stage of commercialization. In particular, it is much more difficult to obtain information about competitors and potential candidates. In this study, the real-time value chain analysis and visualization service module based on the proposed network map and the data in hands is compared with the expected market share, estimated sales volume, contact information (which implies potential suppliers for raw material / parts, and potential demanders for complete products / modules). In future research, we intend to carry out the in-depth research for further investigating the indices of competitive factors through participation of research subjects and newly developing competitive indices for competitors or substitute items, and to additively promoting with data mining techniques and algorithms for improving the performance of VCNS.

• Asian Pacific Journal of Cancer Prevention
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• v.13 no.2
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• pp.699-704
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• 2012

Natural products have been the target for cancer therapy for several years but there is still a dearth of information on potent compounds that may protect normal cells and selectively destroy cancerous cells. The present study was aimed to evaluate the cytotoxic potential of n-butanolic leaf extract of $Annona$ $muricata$ L. on WRL-68 (normal human hepatic cells), MDA-MB-435S (human breast carcinoma cells) and HaCaT (human immortalized keratinocyte cells) lines by XTT assay. Prior to cytotoxicity testing, the extract was subjected to phytochemical screening for detecting the presence of compounds with therapeutic potential. Their relative antioxidant properties were evaluated using the reducing power and $DPPH^*$radical scavenging assay. Since most of the observed chemo-preventive potential invariably correlated with the amount of total phenolics present in the extract, their levels were quantified and identified by HPLC analysis. Correlation studies indicated a strong and significant (P<0.05) positive correlation of phenolic compounds with free radical scavenging potential. The results revealed that the extract was moderately cytotoxic to normal cells with a mean IC50 value of 52.4 ${\mu}g$ when compared with those obtained for cancerous cells (IC50 values of 29.2 ${\mu}g$ for MDA-MB-435S and 30.1 ${\mu}g$ for HaCaT respectively). The study confirms the presence of therapeutically active antineoplastic compounds in the n-butanolic leaf extract of $Annona$ $muricata$. Isolation of the active metabolites from the extract is in prospect.

• Asian Pacific Journal of Cancer Prevention
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• v.13 no.5
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• pp.2015-2020
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• 2012

Oleanolic acid (OA) is a naturally occurring triterpenoid in food materials and is a component of the leaves and roots of Olea europaea, Viscum album L., Aralia chinensis L. and more than 120 other plant species. There are several reports validating its antitumor activity against different cancer cells apart from its hepatoprotective activity. However, antitumor activity against skin cancer has not beed studied well thus far. Hence the present study of effects of OA against HaCaT (immortalized keratinocyte) cells - a cell-based epithelial model system for toxicity/ethnopharmacology-based studies - was conducted. Radical scavenging activity ($DPPH{\cdot}$) and FRAP were determined spectrophotometrically. Proliferation was assessed by XTT assay at 24, 48 and 72 hrs with exposure to various concentrations (12.5-200 ${\mu}M$) of OA. Apoptotic induction potential of OA was demonstrated using a cellular DNA fragmentation ELISA method. Morphological studies were also carried out to elucidate its antitumor potential. The results revealed that OA induces apoptosis by altering cellular morphology as well as DNA integrity in HaCaT cells in a dose-dependent manner, with comparatively low cytotoxicity. The moderate toxicity observed in HaCaT cells, with induction of apoptosis, possibly suggests greater involvement of programmed-cell death-mediated mechanisms. We conclude that OA has relatively low toxicity and has the potential to induce apoptosis in HaCaT cells and hence provides a substantial and sound scientific basis for further validation studies.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.12
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• pp.7331-7339
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• 2014

As the Korean government initiates the Han-style campaign, the efforts and expectations for the modernization and industrialization of Hanok are growing. Accordingly, a major R&D project sponsored by the government is in progress for the development of related technologies, in which the development of a Hanok design support system based on Building Information Modeling(BIM) technology is included as one of the major subjects. However, the development of design tools for Hanok so far has not focused on the windows and doors, which is another major element of Korean traditional architecture. Therefore, this study developed a BIM-based design tool for Hanok windows and doors as an approach to the integrated design of various Hanok elements and their applications to modern buildings. To this end, the characteristics of Hanok windows and doors were analyzed first in terms of the location, opening method, style, components, and the over-all construction. A design tool was then developed with the parametric modeling functions of the $ArchiCAD^{(R)}$system. The applicability and efficiency of the developed tool were verified with design simulations. This is expected to contribute to not only the application of Hanok windows and doors to modern buildings but also to the further development of an integrated Hanok design system.

• The Journal of Society for e-Business Studies
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• v.20 no.4
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• pp.193-208
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• 2015

In knowledge based society, information technology (IT) has been playing a key role in economic growth. In recent years, it is surprisingly notable that the source of value creation moved from hardware to software in IT industry. Especially, among many kinds of software products, the economic potential of open source was realized by many government agencies. Open source means software codes made by voluntary and open participation of worldwide IT developers, and many policies to promote open source activities were implemented for the purpose of fast growth in IT industry. But in many cases, especially in Korea, the policies promoting open source industry and its ecosystem were not considered successful. Therefore, this study provides the practical reasons for the low performance of Korean open source industry and suggests the pragmatic requisites for effective open source policy. For this purpose, this study applies soft system model (SSM) which is frequently used in academy and industry as a methodology for problem-solving and we link the problems with corresponding policy solutions based on SSM. Given concerns which Korean open source faces now, this study suggests needs for the three different kinds of government policies promoting multiple dimensions of industry: research and development (R&D)-side, supply-side, and computing environment-side. The implications suggested by this research will contribute to implement the practical policy solutions to boost open source industry in Korea.

• The Journal of Industrial Distribution & Business
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• v.9 no.6
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• pp.77-85
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• 2018

Purpose - The purpose of this study is to subdivide trade transaction-centered structure in a logistics/distribution industry system to apply blockchain, to establish and resolve with which types of technology, and to provide policy direction of government institution and technology to apply blockchain in this kind of industry. Research design, data, and methodology - This study was conducted with previous researches centered on cases applied in various industry sectors on the basis of blockchain technology. Results - General fields of blockchain application include digital contents distribution, IoT platform, e-Commerce, real-estate transaction, decentralized app. development(storage), certification service, smart contract, P2P network infrastructure, publication/storage of public documents, smart voting, money exchange, payment/settlement, banking security platform, actual asset storage, stock transaction and crowd funding. Blockchain is being applied in various fields home and abroad and its application cases can be explained in the banking industry, public sector, e-Commerce, medical industry, distribution and supply chain management, copyright protection. As examined in the blockchain application cases, it is expected to establish blockchain that can secure safety through distributed ledger in trade transaction because blockchain is established and applied in various sectors of industries home and abroad. Parties concerned of trade transaction can secure visibility even in interrupted specific section when they provide it as a base for distributed ledger application in trade and establish trade transaction model by applying blockchain. In case of interrupted specific section by using distributed ledger, blockchain model of trade transaction needs to be formed to make it possible for parties concerned involved in trade transaction to secure visibility and real-time tracking. Additionally, management should be possible from the time of contract until payment, freight transfer to buyers through land, air and maritime transportation. Conclusions - In order to boost blockchain-based logistics/distribution industry, the government, institutionally, needs to back up adding legal plan of shipping, logistics and distribution, reviewing standardization of electronic switching system and coming up with blockchain-based industrial road maps. In addition, the government, technologically, has to support R&D for integration with other high technology, standardization of distribution industry's blockchain technology and manpower training to expand technology development.

• Journal of Korea Technology Innovation Society
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• v.17 no.3
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• pp.563-583
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• 2014

We classified collaboration types of Government-supported Research Institutes (GRIs) in Korea to make a creation knowledge with the openness and the diversity. The openness is described to collaboration dependence and leading intensity, and the diversity is expressed to collaboration diversity and collaboration concentration. We suggest four taxonomy models explained in terms of the openness and the diversity with country level and institute level. This study uses 39,507 papers in SCOUPS DB that include author(s) affiliated to 26 GRIs. It concludes that many GRIs is classified to the type of multilateral collaboration follower in institute level and to the type of global network player in country level from the perspective of openness. In the aspect of diversity, many GRIs is concentrated to the collaboration type of picky eater or monophagous in institute level and to the multinatioal asymmetry type or non-multinational asymmetry type in country level. It is necessary for GRIs to lead collaboration and to transfer inhouse R&D institutes with high performance to be competitive institutes which make high quality knowledge.

• Journal of Korea Society of Industrial Information Systems
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• v.28 no.1
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• pp.57-69
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• 2023

In a situation where digital transformation using artificial intelligence is active around the world, the growth of domestic AI companies or AI industrial ecosystems is slow. Where a large amount of government funds related to AI are being invested to overcome the difficult economic situation, systematic research on the effect is insufficient. So, this study aimed to examine the policy effectiveness of the government artificial intelligence solution voucher support project for small and medium-sized enterprises (SMEs) using Propensity Score Matching (PSM) and Difference-in-Differences (DID) on the financial performance of beneficiary companies. For empirical analysis, PSM-DID analysis was performed using sales performance since 2019 for 461 companies with a history of voucher support among the AI SMEs data released by the National IT Industry Promotion Agency. As a result of the analysis, the beneficiary companies' asset growth, salary, and R&D expenses increased overall after government support, and no significant contribution could be confirmed in terms of profits. This study suggests that the voucher policy business directly contributed to the company's growth in the short term, but it requires a certain period of time to generate profits.

• Korea Trade Review
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• v.42 no.4
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• pp.69-91
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• 2017

Since the global financial crisis, major countries have been executing policies related to two top-priority goals to create more jobs: revitalization of entrepreneur activity and the cultivation of small and medium-sized companies. In South Korea, the interest of policy makers is increasingly focusing on the role of SMEs that have a technological competitive edge in the realization of a "job-centered creative economy." Due to the nature of the field, the health and medical industry requires a particularly long time until the achievement of industrialization, Also, because of the complex distribution structure, it is essential for related government ministries and institutions to jointly devise strategies. A lack of policy supports for the industry has thus far resulted in its development being relegated for the most part of small and medium-sized companies, which consequently means low global competitiveness. Now is the time for the South Korean government to provide the revolutionary supported options and strategies. This study aims to propose a general policy direction and policy areas for the cultivation of Korea's small and medium-sized companies in the healthcare industry into global small giant companies through an exploration of the German case. It is crucial to first cultivate the international competitiveness of Korean small and medium-sized companies (as in the case of Germany) so that they can grow into global small giant companies. Another important task is the creation of an environment that expedites the qualitative growth of promising SMEs as well as technological development. After securing competitiveness in terms of both product quality and technology in the global health market, substantive policy supports will be necessary to cultivate global small giant companies that are export-based (e.g. job creation effect, sales value added).