• Korean Journal of Construction Engineering and Management
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• v.14 no.5
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• pp.92-102
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• 2013

A Project Financing (PF) is a form of project delivery system that is carried out for the purpose of trying to give help to the development of national economy and the construction industry in order attract private investment. However, in the case of Korea, many PF projects are only taking into account the aspect of maximizing development benefits, and the proliferation of PF results in project failure. In addition, the interruption of business has been one after another in the aftermath of the recent financial crisis. These major cause is the result of efforts to block the potential risk of objectively quantifying operations. Nowadays, PF risk analysis in terms of various factors is insufficient. The purpose of this study is to identify and quantify the extensive risk elements to classify the cause of affecting the success of the project PF study prior to propose a methodology for evaluating the integrity of the project PF based on this and to provide a quantitative system that can evaluate the business risk. This study identified the factors that affect the PF business success and failure and establish the metrics that can be quantified through existing research and expert interviews. Factors influencing the success of the PF obtained as a result of surveys and interviews in assessing the soundness of the PF development conditions in the future be able to take advantage of, as well as an objective assessment tool to be able to take advantage of the development is expected.

• Journal of the Economic Geographical Society of Korea
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• v.8 no.1
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• pp.91-105
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• 2005

The assessment (or the evaluation) of spatial disparity is the main concern for the study of spatial disparities or spatial inequalities. In order to evaluate the spatial disparity, the regional differences have to be counted quantitatively. Several measurements have been introduced for evaluating the development potentials of each region. Most of them are the composite indices of the socio-economic variables rather than the real potentials of the region. This study attempts to investigate the spatial disparity in Korea. For the purpose, the levels of opportunity potentials of the cities have been calculated by the Potential Model redefined by Lee(1995). The opportunity potentials have been calculated for the educational, cultural, medical service, environmental sectors, income, and consumption sectors, and the spatial patterns of various opportunity potentials have been analyzed. The spatial patterns of opportunity potentials show the severe concentration on the Metropolitan Seoul area through all sectors. The next level concentration appears at the other end of the Keuyng-Bu axis. And the cities relatively high opportunity potential values are distributed along the Keuyng-Bu axis. Remain parts of the country show quietly low opportunity potential values. In particular, the southern-west and the northern-east parts show relatively very low values. This pattern appears for all sectors except for the opportunity potential of the environmental sector. It means that the spatial disparity in Korea have been promoted and enhanced by the national development policies concentrated the investment on the large cities along the Keuyng-Bu axis during the last 40 years.

• Journal of Environmental Impact Assessment
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• v.4 no.3
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• pp.41-48
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• 1995

In former times the protection of our environment didn't play an important role due to the fact that emissions and effluents were not considered as serious impacts. However, opinions and scientific measurements meanwhile confirmed that the impacts are more serious than expected. Thus measures to protect our earth has to be taken into consideration. A part of these measures in the Environmental Impact Assessment (EIA). One of the most important parts of the EIA is the collection of basic datas and the following evaluation. Experience out of the daily business of Gerling Consulting Group shows that the content of the EIA has to be revised and enlarged in certain fields. The historical development demonstrated that in areas in which the population and the industrial activities reached high concentration there is a high necessity to develop strict environmental laws and regulations. Maximum values of the concentration of hazardous materials were fixed concerning the emission into and water. Companies not following these regulations were punished. The total amount of environmental offences increased rapidly during the last decade, at least in Germany. During this development the public consciousness concerning environmental affairs increased as well in the industrialized countries. But it could clearly be seen that the development in the field of environmental protection went into the wrong direction. The technologies to protect the environment became more and more sophisticated and terms as: "state of the art" guided more and more to lower emissions, Filtertechnologies and wastewater treatment for example reached a high technical level-but all these sophisticated technologies has one and the same characteristic: they were end-of-the pipe solutions. A second effect was that this kind of environmental protection costs a lot of money. High investments are necessary to reduce the dust emission by another ppm! Could this be the correct way? In Germany the discussion started that the environmental laws reduce the attractivity to invest or to enlarge existing investments within the country. Other countries seem to be not so strict with controlling the environmental laws which means it's simply cheaper to produce in Portugal or Greece. Everybody however knows that this is not the correct way and does not solve the environmental problems. Meanwhile the general picture changes a little bit and we think it changes into the correct direction "End-of-the-pipe" solutions are still necessary but this word received a real negative touch and nobody wants to be brought into connection with this word received a real negative touch and nobody wants to be brought into connection with this word especially in connection with environmental management and safety. Modern actual environmental management starts in a different way. Thoughts about emissions start in the very beginning of the production, they start with the design of the product and modification of traditional modes of production. Basis of these ideas are detailed analyses of products and processes. Due to the above mentioned facts that the public environmental consciousness changed dramatically a continous environmental improvement of each single production plant has to be guarantied. This question is already an important question of the EIA. But it was never really checked in a wholistic approach. Environmental risks have to be taken into considerations during the execution of an EIA. This means that the environmental risks have to be reduced down to a capable risk-level. Environmental risks have to be considered within the phase of planning, during the operation of a plant and after shut down. The experience shows that most of the environmental relevant accidents were and caused by human fault. Even in highly protected plants the human risk-factor can not be excluded during evaluation of the risk-potential. Thus the approach of an EIA has to regard technical evaluations as well as organizational thoughts and the human factor. An environmental risk is a threat to the environment. An analysis of the risk concerning the organizational and human aspect however never was properly executed during an EIA. A possible solution could be to use an instrument as the actual EMAS (Environmental Management System) of the EC for more accurate evaluation of the impact to the environment during an EIA. Organizations or investors could demonstrate by an approved EMAS or even by showing their installment of EMAS that not only the technical level of the planned investment meets the requested standards but as well the actual or planned management is able to reduce the environmental impact down to a bearable level.

• Journal of Intelligence and Information Systems
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• v.16 no.4
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• pp.43-65
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• 2010

Facing a complex environment driven by a decade, many companies are adopting new strategic frameworks such as Customer Relationship Management system to achieve sustainable profitability as well as overcome serious competition for survival. In many business areas, CRM system advanced a great deal in a matter of continuous compensating the defect and overall integration. However, pharmaceutical companies in Korea were slow to accept them for usesince they still have a tendency of holding fast to traditional way of sales and marketing based on individual networks of sales representatives. In the circumstance, this article tried to empirically address current status of CRM system as well as the effects of the system on the performance of pharmaceutical companies by applying BSC method's four perspectives, from financial, customer, learning and growth and internal process. Survey by e-mail and post to employers and employees who were working in pharma firms were undergone for the purpose. Total 113 cases among collected 140 ones were used for the statistical analysis by SPSS ver. 15 package. Reliability, Factor analysis, regression were done. This study revealed that CRM system had a significant effect on improving financial and non-financial performance of pharmaceutical companies as expected. Proposed regression model fits well and among them, CRM marketing information system shed the light on substantial impact on companies' outcome given profitability, growth and investment. Useful analytical information by CRM marketing information system appears to enable pharmaceutical firms to set up effective marketing and sales strategies, these result in favorable financial performance by enhancing values for stakeholderseventually, not to mention short-term profit and/or mid-term potential to growth. CRM system depicted its influence on not only financial performance, but also non-financial fruit of pharmaceutical companies. Further analysis for each component showed that CRM marketing information system were able to demonstrate statistically significant effect on the performance like the result of financial outcome. CRM system is believed to provide the companies with efficient way of customers managing by valuable standardized business process prompt coping with specific customers' needs. It consequently induces customer satisfaction and retentionto improve performance for long period. That is, there is a virtuous circle for creating value as the cornerstone for sustainable growth. However, the research failed to put forward to evidence to support hypothesis regarding favorable influence of CRM sales representative's records assessment system and CRM customer analysis system on the management performance. The analysis is regarded to reflect the lack of understanding of sales people and respondents between actual work duties and far-sighted goal in strategic analysis framework. Ordinary salesmen seem to dedicate short-term goal for the purpose of meeting sales target, receiving incentive bonus in a manner-of-fact style, as such, they tend to avail themselves of personal network and sales and promotional expense rather than CRM system. The study finding proposed a link between CRM information system and performance. It empirically indicated that pharmaceutical companies had been implementing CRM system as an effective strategic business framework in order for more balanced achievements based on the grounded understanding of both CRM system and integrated performance. It suggests a positive impact of supportive CRM system on firm performance, especially for pharmaceutical industry through the initial empirical evidence. Also, it brings out unmet needs for more practical system design, improvement of employees' awareness, increase of system utilization in the field. On the basis of the insight from this exploratory study, confirmatory research by more appropriate measurement tool and increased sample size should be further examined.

• Journal of the Korean Institute of Landscape Architecture
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• v.51 no.6
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• pp.1-11
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• 2023

By comparing and analyzing the effects of the 2013 Suncheon Bay International Garden Expo and the 2023 Suncheon Bay International Garden Expo, designated as Korea's first national garden, this study aims to present basic data for the future operation direction and sustainability strategy. First, in both fairs, satisfaction throughout the event was high, 4.0 or higher. In particular, the satisfaction level of the 2023 Suncheon Bay International Garden Expo was higher than that of the 2013 Suncheon Bay International Garden Expo. As the longest international event held since the COVID-19 pandemic, it reflected the citizens' demand for healing and recharging in natural spaces. Second, as a result of comparing the types of perceptions that affected satisfaction, it was found that economic, environmental, and ecological types commonly affected satisfaction at the 2013 and 2023 Suncheon Bay International Garden Expo. The 2013 Suncheon Bay International Garden Expo established the brand value as an "ecological city" by creating a garden in the city center along with an ecological resource called Suncheon Bay. In addition, the 2023 Suncheon Bay International Garden Expo expanded the scope of the garden to the entire city center. It also attempted to create a city where humans and nature coexist by realizing values, such as responding to climate change and carbon neutrality. In other words, one of the ways to secure urban competitiveness is to attract corporate investment and tourists and build a differentiated brand in Suncheon by promoting the 2023 fair based on the potential ecological values of the region after the 2013 Suncheon Bay International Garden Expo. Therefore, if the Suncheon Bay International Garden Expo continues to develop environmental and ecological content and programs in line with changes in society and tries to establish itself in citizens' perception through cooperation with local governments and residents, it will be able to establish its identity and brand power.

• Journal of Distribution Research
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• v.17 no.3
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• pp.1-24
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• 2012

Franchises have recently emerged as the most rapidly expanding industry positioned to create a large impact in the domestic economic. The Chinese franchise industry developed rapidly in the period prior and subsequent to WTO accession with more than 50% of new franchises brands emerging since 2000. M&A transactions in the Chinese franchise industry have progressed actively. In the period from 2005-2007, due to the wholesale and retail market opening in accordance with the guidelines laid forth within the MOU by the WTO the Chinese franchise market is now the largest market in the world all despite a short history of only 20 years. The amount of franchise market research on China is disproportional to its current size and development potential. Beginning in the 1990s, market research conducted by the International Franchise Association focused on emerging markets in Eastern Europe and China. While the research dealt with the Chinese investment environment, it insufficiently explained the market region and cultural environment. The purpose of this research is (i) to investigate the determinants of the performance of franchise systems in China and (ii) new contract renewals based on performance factors. This study will complement existing research in terms of the franchisee perspective. This study may also prove of the benefit to the franchise companies entering the Chinese franchise market enabling them to develop an effective strategy. This study shows that support, incentives, and system standardization by franchisor yielded a positive effect on management performance. This is consistent with previous studies by Shin (2000) and Kim (2008) targeting Korean franchises. Therefore, in the Chinese market, the franchisor must focus on support, incentives, and system standardization rather than concentrate only on the recruitment of franchisees in order to improve revenue. Hypotheses regarding franchisor control have been dismissed in existing research, in the opinion of this study, due to their complexity and inability to control the merchant as a one-kind-assessment-standard. Our findings show that the franchisees' financial condition, management ability and entrepreneurial spirit, among franchisee's characteristics, have a positive effect on franchisor's business performance and satisfaction for the franchisee. This is consistent with previous studies on headquarters' management performance of Lussier (1996), Heo and Jang (2008), and franchisees' financial condition, management ability and entrepreneurial spirit effect on franchisor's satisfaction of Weaven and Franzer (2007), Kim (2009), Han (2009), and Yoon etc. (2008). Therefore, when permitting a franchisee, financial condition, management ability, entrepreneurship of the franchisee should be carefully considered. Among relational factors between franchisor and franchisee, trust has the positive influence on the management performance of the franchisor while conflict has a negative effect. However, trust, commitment and conflict factors have been shown not to have any impact on the satisfaction of the franchise headquarters. This result is consistent with the previous studies of Pavlou and Ba (2000), Morrison (1999), Weaven and Frazer (2007), Kim and Park (1994), Sohn (2007) which show that trust between franchisor and the franchisees have a positive effect and that conflict has a negative impact on franchisor's management performance. Other factors causing a negative effective on the franchisor's management performance are a rapid environmental changes and uncertainty in the business. This is consistent with Campbell et al (2007), Kim and Kim (2009), Han and Baek (2008). Finally, the high management performance and satisfaction of the franchise headquarters has a positive effect on the intention of franchise renewal. In the case of large markets such as China, the franchisor's strategy and the role is very important. In this study, we also investigated the characteristics of franchisor and franchisee, relationship, and environmental uncertainty affecting on the management performance and satisfaction of franchisor. Recently, Korean franchises are attempting to enter foreign markets through the rise in popularity of Korean culture and entertainment commonly referred to as the Korean wave. This study provides recommendations for Korean franchises intending on entering the Chinese market. First, in order to achieve stable profits, the franchise corporation needs to support the operation of the individual franchisee through incentives and standardization of services. Second, because trust between the franchisor and franchisee has a positive effect on management performance, on-going discussion and cooperation is necessary to reduce the level of conflict.