• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.191-209
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• 2023

Amid rapid changes in technological innovation due to the influence of the 4th Industrial Revolution and COVID-19, research related to absorption capacity and patent activities to promote technological innovation of Korean technology start-ups is important in this uncertain environment. This study aims to examine the effects on entrepreneurial performance and patent activities by reconstructing absorptive capacity, an organizational capability, for technology-based startups in fields such as BT and ICT with less than seven years of establishment, distinguishing between potential absorptive capacity and realized absorptive capacity. The study also seeks to develop a theoretical research model. To accomplish this, data was collected from managerial executives, including CEOs of 215 technology startups. The following hypotheses were tested: Firstly, potential absorptive capacity had a significant impact on patent activities, while realized absorptive capacity did not. Secondly, potential absorptive capacity had a significant impact on technological performance, while realized absorptive capacity did not. Thirdly, both potential and realized absorptive capacity had a significant impact on financial and non-financial performance. Fourthly, patent activities indirectly influenced potential absorptive capacity and technological performance, but did not affect realized absorptive capacity. Fifthly, patent activities indirectly influenced potential absorptive capacity and financial performance, but did not affect realized absorptive capacity. Lastly, patent activities indirectly influenced potential absorptive capacity and non-financial performance, but did not affect realized absorptive capacity. The practical significance of this study lies in providing useful guidelines for building the core capabilities of organizations through absorptive capacity and patent activities. Furthermore, it is expected that startups that have not recognized the formation process of absorptive capacity for patent activities will perceive the formation mechanism of absorptive capability anew and show considerable interest in future potential and realized absorptive capacity as part of their management strategies. This is anticipated to play an important role in adapting to rapidly changing technological advancements, the startup ecosystem, and securing sustainable competitive advantages.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.1-20
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• 2023

This study attempted to identify the relationship between the investment determinants of accelerators and investment performance through empirical analysis. Through literature review, four dimensions and 12 measurement items were extracted for investment determinants, which are independent variables, and investment performance was adjusted to the cumulative amount of subsequent investment based on previous studies. Performance data from 594 companies selected by TIPS from 2017 to 2019, which are relatively reliable and easy to secure data, were collected, and the subsequent investment cumulative attraction amount, which is a dependent variable, was hypothesized through multiple regression analysis three years after the investment. As a result of the study, 'industrial experience years' in the characteristics of founders, 'market size', 'market growth', 'competitive strength', and 'number of patents' in the characteristics of products and services had a significant positive (+) effect. The impact of independent variables on dependent variables was most influenced by the competitive strength of market characteristics, followed by the number of years of industrial experience, the number of patents, the size of the market, and market growth. This was different from the results of previous studies conducted mainly on qualitative research methods, and in most previous studies, the characteristics of founders were the most important, but the empirical analysis results were market characteristics. As a sub-factor, the intensity of competition, which was the subordinate to the importance of previous studies, had the greatest influence in empirical analysis. The academic significance of this study is that it presented a specific methodology to collect and build 594 empirical samples in the absence of empirical research on accelerator investment determinants, and created an opportunity to expand the theoretical discussion of investment determinants through causal research. In practice, the information asymmetry and uncertainty of startups that accelerators have can help them make effective investment decisions by establishing a systematic model of experience-dependent investment determinants.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.21-35
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• 2023

Expectations surrounding generative AI technology and its profound ramifications are sweeping across various industrial domains. Given the anticipated pivotal role of the startup ecosystem in the utilization and advancement of generative AI technology, it is imperative to cultivate a deeper comprehension of the present state and distinctive attributes characterizing venture capital (VC) investments within this domain. The current investigation delves into South Korea's landscape of VC investment deals and prognosticates the projected VC investments by juxtaposing these against the United States, the frontrunner in the generative AI industry and its associated ecosystem. For analytical purposes, a compilation of 286 investment deals originating from 117 U.S. generative AI startups spanning the period from 2008 to 2023, as well as 144 investment deals from 42 South Korean generative AI startups covering the years 2011 to 2023, was amassed to construct new datasets. The outcomes of this endeavor reveal an upward trajectory in the count of VC investment deals within both the U.S. and South Korea during recent years. Predominantly, these deals have been concentrated within the early-stage investment realm. Noteworthy disparities between the two nations have also come to light. Specifically, in the U.S., in contrast to South Korea, the quantum of recent VC deals has escalated, marking an augmentation ranging from 285% to 488% in the corresponding developmental stage. While the interval between disparate investment stages demonstrated a slight elongation in South Korea relative to the U.S., this discrepancy did not achieve statistical significance. Furthermore, the proportion of VC investments channeled into generative AI enterprises, relative to the aggregate number of deals, exhibited a higher quotient in South Korea compared to the U.S. Upon a comprehensive sectoral breakdown of generative AI, it was discerned that within the U.S., 59.2% of total deals were concentrated in the text and model sectors, whereas in South Korea, 61.9% of deals centered around the video, image, and chat sectors. Through forecasting, the anticipated VC investments in South Korea from 2023 to 2029 were derived via four distinct models, culminating in an estimated average requirement of 3.4 trillion Korean won (ranging from at least 2.408 trillion won to a maximum of 5.919 trillion won). This research bears pragmatic significance as it methodically dissects VC investments within the generative AI domain across both the U.S. and South Korea, culminating in the presentation of an estimated VC investment projection for the latter. Furthermore, its academic significance lies in laying the groundwork for prospective scholarly inquiries by dissecting the current landscape of generative AI VC investments, a sphere that has hitherto remained void of rigorous academic investigation supported by empirical data. Additionally, the study introduces two innovative methodologies for the prediction of VC investment sums. Upon broader integration, application, and refinement of these methodologies within diverse academic explorations, they stand poised to enhance the prognosticative capacity pertaining to VC investment costs.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.65-76
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• 2023

In the field of technology entrepreneurship and startups, the development of Artificial Intelligence(AI) has emerged as a key topic for business model innovation. As a result, venture firms are making various efforts centered on AI to secure competitiveness(Kim & Geum, 2023). The purpose of this study is to analyze the relationship between the development of GenAI technology and the startup ecosystem by analyzing domestic news articles to identify trends in the technology startup field. Using BIG Kinds, this study examined the changes in GenAI-related news articles, major issues, and trends in Korean news articles from 1990 to August 10, 2023, focusing on the emergence of ChatGPT before and after, and visualized the relevance through network analysis and keyword visualization. The results of the study showed that the mention of GenAI gradually increased in the articles from 2017 to 2023. In particular, OpenAI's ChatGPT service based on GPT-3.5 was highlighted as a major issue, indicating the popularization of language model-based GenAI technologies such as OpenAI's DALL-E, Google's MusicLM, and VoyagerX's Vrew. This proves the usefulness of GenAI in various fields, and since the launch of ChatGPT, Korean companies have been actively developing Korean language models. Startups such as Ritten Technologies are also utilizing GenAI to expand their scope in the technology startup field. This study confirms the connection between GenAI technology and startup entrepreneurship activities, which suggests that it can support the construction of innovative business strategies, and is expected to continue to shape the development of GenAI technology and the growth of the startup ecosystem. Further research is needed to explore international trends, the utilization of various analysis methods, and the possibility of applying GenAI in the real world. These efforts are expected to contribute to the development of GenAI technology and the growth of the startup ecosystem.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.117-129
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• 2023

Organizations must seek change in order to adapt to environmental changes and achieve better performance. However, despite this obvious statement, empirical analysis has been almost non-existent due to the difficulty of manipulating organizational performance or change. In this study, we overcame these limitations and analyzed the causes and effects of organizational change by assuming a professional sports team as a venture company, which is relatively easy to objectively measure and evaluate organizational change or performance. We systematically collected and preprocessed traditional and advanced metrics of National Basketball Association (NBA) statistics along with preprocessed trade data from eight years of regular seasons (2014~2015-2021~2022) to analyze our research model. Assessment of process macro model 7 derives the following empirical result. The results of the empirical analysis depict that NBA teams with low organizational performance in the previous season are more likely to make organizational changes through player trades to improve performance. Into the bargain player trades mediate the static relationship between the winning percentage in the previous season and the winning percentage in the current season. However, the indirect effect of a team's previous season's performance on player trades appears to vary depending on the current situations and context of each NBA team. Teams that made the playoffs in the previous season tend to make fewer trades than teams that did not and the previous season's performance is highly correlated with the current season's performance. On the other hand, teams that did not make the playoffs in the previous season tend to make a relatively larger amount of player trades in total, and the mediating effect of trades vanishes in this case. In other words, teams that did not make the playoffs in the previous season experience a larger change in performance due to trades than teams that made the playoffs, even if they achieved the same winning percentage. This empirical analysis of the inverse relationship between organizational change and the performance of professional sports teams has both theoretical and practical implications in the field of sports industry and management by analyzing the fundamentals of organizational change and the performance of professional sports teams.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.4
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• pp.143-161
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• 2022

The government is promoting policies to increase policy efficiency by supporting corporate growth through corporate support and establishing the Ministry of SMEs and Startups as a control tower for corporate support projects. However, opinions on the efficiency of the government's corporate support project are divided, and this study aims to check how the government's corporate support project affects corporate performance and how absorption capacity and satisfaction, which are internal factors, affect corporate growth. Research was conducted on companies receiving government corporate support projects, and previous studies focused on financial support among government corporate support projects, while the effect of government corporate support was analyzed by dividing government support projects into financial and non-financial support, and absorption capabilities and corporate support satisfaction were analyzed. Through this, the effect on corporate financial performance and non-financial performance was empirically analyzed according to the mediating effect of absorption capacity and corporate support satisfaction in the government's corporate support project. As a result, both the government's financial and non-financial support had a positive effect on financial and non-financial performance, and it was confirmed that both absorption capacity and corporate support satisfaction mediate both financial and non-financial performance, and it was analyzed that it had a positive (+) effect. In order to improve the absorption capacity of a company, it is expected that it will be meaningful to improve the efficiency of the business by defining the problems faced by the company and suggesting solutions through the establishment of a supplier and consumer network.

• Journal of the Korean Institute of Landscape Architecture
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• v.52 no.1
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• pp.71-86
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• 2024

Despite the increasing importance of urban parks' ecological functions in dealing with the climate crisis, ecological parks are not clearly defined in Korea's legal system. Numerous ecological parks created nationwide cannot be systematically designated and managed due to various legal bases and varying management authorities. It is important to clarify the legal status of ecological parks in order to lead the ecological paradigm shift of urban parks and to improve the natural park system for a comprehensive and integrated approach to protect the national ecosystem. To this end, related laws were analyzed to identify problems and to draw directions for legislative improvement. Through the literature review of relevant laws, acts, and ordinances, six major directions for improvement were suggested based on the analysis of problems. First, the legal status of ecological parks in the administrative dichotomy of the current park system is ambiguous, and ecological parks should be clarified through the revision of park-related laws. Second, an ecological park can be defined as a sustainable park created and managed in an ecological manner, promoting the protection and restoration of the ecosystem, conservation, and promotion of biodiversity, and balancing nature observation, ecological learning, and leisure activities. Third, the role of the state and local governments should be systematically revised to lead to a new park planning and management model through new governance. Fourth, since the characteristics of ecological parks are affected by individual laws, the possibility of overlapping ecological parks for other uses should be allowed. Fifth, detailed guidelines and standard ordinances need to be enacted to meet the goals, principles, and facilities of ecological parks. Lastly, along with the revision of the laws, ordinances by local governments also need to be more concrete. This study, which tracks various legal realities related to ecological parks, can contribute to policymaking that can systematize the foundation for the creation of ecological parks to preserve nationwide ecosystems and provide citizens with opportunities to experience and learn about nature.

• Health Policy and Management
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• v.34 no.1
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• pp.38-47
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• 2024

Background: Korea's population of children and adolescents has decreased by 2.88 million over the past decade and is expected to decline further due to the unprecedented low birth rate. In the fee-for-service compensation system, the decline in the pediatric population relates directly to the profit decrease in the pediatric clinics. This study analyzed whether the worsening profits of pediatric clinics impacted their closure. Methods: We built annual data for pediatric and other department clinics (internal medicine, otolaryngology, and family medicine) using the status of medical institute and health insurance claims data from 2012 to 2022. Then, we analyzed whether institutional variables such as annual profit and regional variables (Herfindahl-Hirschman index, the number of clinics per 100,000, etc.) affected the closure of clinics. The methods used in this study are descriptive statistics and chi-square analysis. Odds ratios for each variable were estimated by generalized estimating equations (GEE). Results: The closure rate of pediatric clinics was 2.66%-7.04% in 2012-2022, which was consistently higher than those of internal medicine, otolaryngology, and family medicine clinics. The profit gap per institution between the pediatric and the other clinics grew from 126 million won in 2012 to 245 million won in 2019. In the GEE analysis, profit decrease compared to the previous year with lower profit was the main factor that increased the closure of pediatric and other department clinics. After adjusting profit-related variables, the decrease in the pediatric population itself did not relate to the closure of pediatric clinics. The number of pediatric clinics or monopolies also did not affect the closure of pediatric clinics. Conclusion: The worsening profit is the crucial factor for the closure of pediatric clinics, while the pediatric population is decreasing. For this reason, it is necessary to actively seek ways to maintain a stable treatment system for children and adolescents.

• Korean Association of Arts Management
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• no.50
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• pp.101-146
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• 2019

After the enactment of the Local Culture Promotion Act in 2014, the government has been continuously trying to find the direction of the local culture that reflects the local life and conforms to the local people's emotions. In response to these efforts, the Organizing Committee for the C Region Biennale has uniquely formed the Biennale Artistic Director as a local artist who includes the historical, ecological and emotional characteristics of the C region. Therefore, I sought to explore the perception of the identity and role of the local cultural arts director through the narratives of the research participants who were appointed as the local residents of the C region and the director of the Craft Biennale. For the study, six local cultural arts directors were selected as research participants, and their identity as a local cultural arts director and its role were explored, focusing on their narratives. In this process, various types of data such as photographs, documents, in - depth interviews, and conference materials were collected and narrative was analyzed based on deterministic events. The results of the investigation are as follows. The idea of the identity of the local cultural arts directors was found to be in three directions. First, it is the view that the symbolic role of the artistic supervisory system of the 10 persons guarantees the identity. Second, the identity of local cultural arts directors was recognized as a role to find ways to be localized by developing and debating cultural and artistic discourses in various regions. Third, the participants had a concern and affection for local cultural arts, not one-time but continuous, and recognized it as their identity. The directors who participated in the interviews showed that the discourse of cultural arts in various regions were developed and discussed, and they wanted to find ways to be localized. The roles of local cultural arts directors recognized by research participants in connection with their identity are as follows. First, it should be the subject of systematic and long-term planning that can close the year and connect with the art events of the following year. Second, it should play a role of academic / research that can derive the identity of social and cultural ecological analysis connected with the area. Third, local arts professionals are required to act as cultural brokers, ie local culture professionals, who can create a venue for international cultural exchanges. Research on the form of local government supervision as a mediator of local cultural arts is to find out the origin of the identity of local artists and to establish a methodology for the direction of culture and art as a subject of local people. In addition, there is a need for continued interest and research in providing a reflection on the communication and meaning of the desirable local culture, and suggesting the system for cultivating local cultural arts intermediaries.

• Health Policy and Management
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• v.34 no.2
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• pp.178-184
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• 2024

Background: This study aimed to determine the effectiveness of drug utilization review (DUR) evaluation indicators on safe drug use by comparing the changes in DUR inspection rates and drug duplication prescription prevention rates between the pre- and post-implementation of the DUR evaluation indicators of the Healthcare Quality Evaluation Grant Initiative. Methods: This study used DUR data from the Health Insurance Review and Assessment Service in 2018 (pre-implementation) and the evaluation results of the Healthcare Quality Evaluation Grant Initiative in 2023 (post-implementation). The dependent variables were the DUR evaluation indicators, including DUR inspection rate and drug duplicate prescription prevention rate. The independent variable was the implementation of the DUR evaluation indicators, and the control variables included medical institution characteristics such as type, establishment classification, location, DUR billing software company, and number of beds. Results: The results of the analysis of the difference in the prevention rate of drug duplicate prescriptions between the pre- and post-implementation of the DUR evaluation indicators of the Healthcare Quality Evaluation Grant Initiative showed that the prevention rate of drug duplicate prescriptions increased statistically significantly after the implementation of the DUR evaluation indicators. Conclusion: The policy implications of this study are as follows: First, ongoing evaluation of DUR systems is needed. Second, it is necessary to establish a collaborative partnership between healthcare organizations that utilize DUR system information and the organizations that manage it.