• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.2
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• pp.33-51
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• 2022

This study analyzes newly listed companies on KOSDAQ from 2011 to 2020 for both firms having experience in attracting venture investment before listing (VI) and those without having experience in attracting venture investment (NVI) by examining differences between two groups (VI and NVI) with respect to both the level of listing performance and that of firm performance (growth) after the listing. This paper conducts descriptive statistics, mean difference, and multiple regression analysis. Independent variables for regression models include VC investment, firm age at the time of listing, firm type, firm location, firm size, the age of VC, the level of expertise of VC, and the level of fitness of VC with investment company. Throughout this paper, results suggest that listing performance and post-listed growth are better for VI than NVI. VC investment shows a negative effect on the listing period and a positive effect on the sales growth rate. Also, the amount of VC investment has negative effects on the listing period and positive effects on the market capitalization at the time of IPO and on sales growth among growth indicators. Our evidence also implies a significantly positive effect on growth after listing for firms which belong to R&D specialized industries. In addition, it is statistically significant for several years that the firm age has a positive effect on the market capitalization growth rate. This shows that market seems to put the utmost importance on a long-term stability of management capability. Finally, among the VC characteristics such as the age of VC, the level of expertise of VC, and the level of fitness of VC with investment company, we point out that a higher market capitalization tends to be observed at the time of IPO when the level of expertise of anchor VC is high. Our paper differs from prior research in that we reexamine the venture ecosystem under the outbreak of coronavirus disease 2019 which stimulates the degradation of the business environment. In addition, we introduce more effective variables such as VC investment amount when examining the effect of firm type. It enables us to indirectly evaluate the validity of technology exception policy. Although our findings suggest that related policies such as the technology special listing system or the injection of funds into the venture ecosystem are still helpful, those related systems should be updated in a more timely fashion in order to support growth power of firms due to the rapid technological development. Furthermore, industry specialization is essential to achieve regional development, and the growth of the recovery market is also urgent.

• Korean Journal of Agricultural Science
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• v.5 no.2
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• pp.149-157
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• 1978

This study was carried out to obtain basic data for the type selection of furrow openers for the no-tillage soybean planter trailed by the two-wheel tractor from the standpoint of minimum draft and good performance of furrowing. For this study, two models of furrow opener, hoe and disc type, were tested on the artificial soil stuffed in the moving soil bin. The results obtained were as follows. In the case of disc furrow opener, the drafts were measured according to various diameters of discs under the condition of disc angle $8^{\circ}$ and $16^{\circ}$, working depth 3cm and 6cm, working speed 2.75cm/sec. Minimum draft appeared when the diameter of disc was about 28cm and the drafts increased as the diameter of discs became larger or smaller than this diameter. Specific draft showed almost same tendencies as above but showed the minimum when the diameter was about 30cm. For the purpose of controlling the seeding depth, the relationships between draft and working depths, 3cm and 6cm, were tested. The variations of draft concerning the various working depths showed linear changes and were affected in higher degree by depths than other factors. There were general tendencies at both working depths, 3cm and 6cm, that total draft showed the minimum with the disc diameter of about 28cm and specific draft showed it with the disc diameter of about 30cm regardless of disc angle and working speed. For the purpose of controlling the working width and speed, the relationships among drafts, disc angle and working speed were investigated and there were general tendencies that the draft increased as the angle and speed were increased and the draft was affected more by speed than by angle. To compare the hoe-type with disc-type opener, the specific drafts of hoe openers were compared with those of disc opener of $16^{\circ}$ angle and 30cm diameter. The specific draft of disc-type opener with the diameter of 30cm was $0.35{\sim}0.5kg/cm^2$, while $0.71{\sim}1.02kg/cm^2$ in the case of hoe type with the lift angle of $20^{\circ}$ which is 2 times as much as that of disc type in average value. And the furrows opened by disc openers were cleaner than those opened by hoe openers.

• Journal of The Korean Society of Grassland and Forage Science
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• v.3 no.2
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• pp.100-111
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• 1983

The research results reported herein had the objectives to understand and analyze the present problems of saemaeul woodland joint cattle grazing system in Kang Won Do and to take steps of improvement. The study results on actual management conditions, problems analyzed and improvement plan of total 208 joint cattle grazing area which was established 105 area in 1981 and 103 area in 1982 were summarized as follows: 1. the effectiveness of joint cattle grazing projects 1) Average daily weight gain of cattle during joint cattle grazing period was 0.4kg, showing higher daily than the conventional feeding of 0.33kg. 2) Increase of total farm income over the conventional feeding system were \1,031,357,320 during the grazing period from May to October in 1982 by adapting the 208 joint cattle grazing system, of which effectiveness of weight gain was \293,075,300 and labor saving was \543,838,750. 3) According to the results of questionaire investigation from 208 joint cattle grazing area, effectiveness of joint cattle grazing system over the conventional system were (1) labor saving, (2) feed cost saving, (3) reduced diseases, (4) increase of number of feeding, (5) inspiration of joint endeavor, (6) effect of more gain, (7) easiness of feeding and feed cost savings. 2. Problems of joint cattle grazing system. 1) Shortages of grass were a problem at second year of joint cattle grazing period due to the low regrowth rate of wild grass. 2) Proper land for woodland joint cattle grazing is belonging to land of Government ownership and it is very hard to get the permission from office of forestry for cattle grazing purpose. 3) It is also difficult to find a proper time of breeding in grazing area by the difficulty of estrus detection. 4) There are a difficulty to give a proper vaccination and medical examination for the grazing cattle. 3. Improvement plans for woodland joint cattle grazing projects. 1) Obtain sufficient roughages by hoof cultivation and oversowing pasture from the second year of joint cattle grazing period. 2) In order to increase the beef production and to use for a calf production area, Government should arrange that all proper grazing land of Government owned in Kang Won Do convert into woodland joint cattle grazing area. 3) Make a good reproductive record by mixed grazing with a excellent breeding cow in a remote area. And carry out the collective artificial insemination with synchronous puberty induced by injection of puberty stimulation hormone. 4) Make a preventive injection for blackleg, twice medication of fasciola hepatica in a year, and spray and medication of tick insecticide. 4. A policy towards upbringing of woodland joint cattle grazing area. 1) Government should thoroughly investigate about a proper land for woodland joint cattle grazing from all forests. 2) When the area is suitable for the woodland joint cattle grazing, though it is national forest or restricted area, government should make it possible to establish a grazing area. 3) On the proper land foe joint cattle grazing in the remote place, Government should support for the road construction and electric fence equipments by using of national funds. 4) There should be an administrative consideration for well promotion of the project that make woodland joint cattle grazing suitable to the characteristics of Kang Won Do. 5) In order to improve the reproduction record, Government should reform the insufficiency of artificial insemination in the joint cattle grazing area. 6) In order to maintain a proper price of cow, Government should carry out the price plan. 7) When there is any request for grassland formation in the woodland joint cattle grazing area, Government should permit it with preference.

• Journal of the Korean Society of Marine Environment & Safety
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• v.27 no.7
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• pp.924-942
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• 2021

The expansion of the Changjiang Diluted Water (CDW) plume during summer is known to be a major factor influencing phytoplankton diversity, community structure, and the regional marine environment of the northern East China Sea (ECS). The discharge of the CDW plume was very high in the summer of 2020, and cruise surveys and stationary monitoring were conducted to understand the dynamics of changes in environmental characteristics and the impact on phytoplankton diversity and community structure. A cruise survey was conducted from August 16 to 17, 2020, using R/V Eardo, and a stay survey at the Ieodo Ocean Research Station (IORS) from August 15 to 21, 2020, to analyze phytoplankton diversity and community structure. The southwestern part of the survey area exhibited low salinity and high chlorophyll a fluorescence under the influence of the CDW plume, whereas the southeastern part of the survey area presented high salinity and low chlorophyll a fluorescence under the influence of the Tsushima Warm Current (TWC). The total chlorophyll a concentrations of surface water samples from 12 sampling stations indicated that nano-phytoplankton (20-3 ㎛) and micro-phytoplankton (> 20 ㎛) were the dominant groups during the survey period. Only stations strongly influenced by the TWC presented approximately 50% of the biomass contributed by pico-phytoplankton (< 3 ㎛). The size distribution of phytoplankton in the surface water samples is related to nutrient supplies, and areas where high nutrient (nitrate) supplies were provided by the CDW plume displayed higher biomass contribution by micro-phytoplankton groups. A total of 45 genera of nano- and micro-phytoplankton groups were classified using morphological analysis. Among them, the dominant taxa were the diatoms Guinardia flaccida and Nitzschia spp. and the dinoflagellates Gonyaulax monacantha, Noctiluca scintillans, Gymnodinium spirale, Heterocapsa spp., Prorocentrum micans, and Tripos furca. The sampling stations affected by the TWC and low in nitrate concentrations presented high concentrations of photosynthetic pico-eukaryotes (PPE) and photosynthetic pico-prokaryotes (PPP). Most sampling stations had phosphate-limited conditions. Higher Synechococcus concentrations were enumerated for the sampling stations influenced by low-nutrient water of the TWC using flow cytometry. The NGS analysis revealed 29 clades of Synechococcus among PPP, and 11 clades displayed a dominance rate of 1% or more at least once in one sample. Clade II was the dominant group in the surface water, whereas various clades (Clades I, IV, etc.) were found to be the next dominant groups in the SCM layers. The Prochlorococcus group, belonging to the PPP, observed in the warm water region, presented a high-light-adapted ecotype and did not appear in the northern part of the survey region. PPE analysis resulted in 163 operational taxonomic units (OTUs), indicating very high diversity. Among them, 11 major taxa showed dominant OTUs with more than 5% in at least one sample, while Amphidinium testudo was the dominant taxon in the surface water in the low-salinity region affected by the CDW plume, and the chlorophyta was dominant in the SCM layer. In the warm water region affected by the TWC, various groups of haptophytes were dominant. Observations from the IORS also presented similar results to the cruise survey results for biomass, size distribution, and diversity of phytoplankton. The results revealed the various dynamic responses of phytoplankton influenced by the CDW plume. By comparing the results from the IORS and research cruise studies, the study confirmed that the IORS is an important observational station to monitor the dynamic impact of the CDW plume. In future research, it is necessary to establish an effective use of IORS in preparation for changes in the ECS summer environment and ecosystem due to climate change.

• Journal of Bio-Environment Control
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• v.22 no.4
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• pp.366-370
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• 2013

The effects of the early tree shapes with renewal by top-working on Y-shaped peach tree, and the influence on the maintaining fruit quantity with gradual renewal of interstock cultivar were determined. In the comparison of the places of top-working tree, top working tree on the inside of the main branch of interstock cultivar had higher graft union rate and branch growth than those of top working tree on the outside. Tree width, basal diameter of shoot, and number of bearing shoots were smaller in top working tree than in replanted tree. Although labor time was not different to control top working tree and replanted tree, labor time was much required to manage top working tree with interstock cultivar. Accumulated fruit production was 2,384 kg/10a in top working tree and 2,025 kg/10a in replanted tree for three years. However, top working tree had no loss of fruits because interstock cultivar of top-working tree had 3,727 kg/10a of fruits. No variation on fruit quality was observed between top working tree and replanting tree. In terms of economic value of top-working tree, labor to manage interstock cultivar, fertilizer price, fruit bagging, and grading and packing price increased. However, fruit production increased, and price of seedling, rental equipment, pulling-out trees, and repairing supporting system decreased. Therefore, gradual renewal of topworking tree has effects on the maintaining fruit quantity, supplementation on fruit loss, and renewal cultivar.

• Journal of Animal Environmental Science
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• v.10 no.3
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• pp.141-154
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• 2004

The solar powered water pump is very ideal equipment because solar power is more intensive when the water is more needed in summer and it is very helpful in the rural area, in which the electrical power is not available. The average so]ar radiation energy is 3.488 kWh/($m^2{\cdot}day$) in Korea. In this study, the automatic control logic and system of the water pump driven by the radiation energy were studied, designed, assembled, tested and analyzed for realizing the solar powered water pump. The experimental system was operated automatically and the cycle was continued. The average quantity of the water pumped per cycle was about 5,320 cc. The cycle time was about 4.9 minutes. The thermal efficiency of the system was about $0.030\%$. The pressure level of the n-pentane vapour in flash tank was 150$\%$450 hPa(gauge) which was set by the computer program for the control of the vapour supply. The pressure in the condenser and air tank during cycles was maintained as about 600 hPa and 1,200 hPa respectively. The water could be pumped by the amount of 128kg/($m^2{\cdot}day$) with the efficiency of $0.1\%$ and the pumping head of 10 m for the average solar energy in Korea.

• Korean Chemical Engineering Research
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• v.54 no.6
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• pp.863-870
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• 2016

We investigated the physical/chemical phenomena that a slow loss of $CO_2$ inventory into sodium after the sodium-$CO_2$ boundary failure in printed circuit heat exchangers (PCHEs), which is considered for the supercritical $CO_2$ Brayton cycle power conversion system of a sodium-cooled fast reactor (SFR). The first phenomenon is plugging inside narrow sodium channels by micro cracks and the other one is damage propagation referred to as wastage combined with the corrosion/erosion effect. Experimental results of plugging shows that sodium flow immediately stopped as $CO_2$ was injected through the nozzle at $300{\sim}400^{\circ}C$ in 3 mmID sodium channels, whereas sodium flow stopped about 60 min after $CO_2$ injection in 5 mmID sodium channels. These results imply that if pressure boundary of sodium-$CO_2$ fails a narrow sodium channel would be plugged by reaction products in a short time whereas a relatively wider sodium channel would be plugged with higher concentration of reaction products. Wastage by the erosion effect of $CO_2$ (200~250 bar) hardly occurred regardless of the kinds of materials (stainless steel 316, Inconel 600, and 9Cr-1Mo steel), temperature ($400{\sim}500^{\circ}C$), or the diameter of the $CO_2$ nozzle (0.2~0.8 mm). Velocities at the $CO_2$ nozzle were specified as Mach 0.4~0.7. Our experimental results are expected to be used for determining the design parameters of PCHEs for their safeties.

• Journal of Mushroom
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• v.2 no.2
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• pp.76-87
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• 2004

This experiments were conducted to study on the economic analysis of Phellinus spp.(Comercial name: Sanghwang mushroom). These results were as follows: Phellinus spp. can be cultivated about 4 years by one time inoculation. This mushroom has been cultivated by the method of burying log into the soil(BM) at the first time. Recently, however, the method of hanging log on the shelves in the house(HM) is used, because HM has more advantage than BM that HM can be cultivated more pieces of logs than BM. On the other hand, HM is required to invest more 5,678,230Won for the equipments than the BM. And also, HM is required 14,400 pieces(2.8 times) more log numbers than BM 5,000 pieces. Also, HM is required more 3,680,000Won to purchase log, 1,104,000Won to purchase spawn. The cost of production is required to 20,180,971Won for BM, and 37,953,825Won for HM. Accordingly, product cost of HM is 1.9 times higher than BM. The operating cost is required to 1,207,712Won for BM, and 24,075,432Won for HM. Accordingly, operating cost of HM is 2.0 times higher than BM. The net income is 580,940,000Won for BM, and 1,683,300,000Won for HM. Accordingly, net income of HM is 2.9 times higher than BM. The income is 589,040,000Won for BM, and 169,718,000Won for HM. Accordingly, income of HM is 2.9 times higher than BM. In conclusion, HM is required 2.8 times more logs. HM has 1.03 times more products per a piece of log. HM has 1.9 times more production cost, and 2.0 times more operating cost. As you read above, HM and BM have two different aspects. BM is required less investment cost than HM, but BM has lower income because of the different capacity of production. By the comparing those two methods, HM is resulted more efficient method for the producing mushroom. Only in the side of cash flowing, the cash expenditure of BM is required less money at first year. But it has no production at first year. BM would get the income after 2 years buring the logs. The cash expenditure of HM is required much money for the equipments and the logs at first year, but HM would get the income at first year.

• Journal of Korean Society of Environmental Engineers
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• v.29 no.6
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• pp.715-721
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• 2007

Residual calcium concentration is high, in general, at the effluent of the fluoride removal process in the electronics industry manufacturing semiconductor and LCD. To increase the stability of the membrane process incorporated for reuse of wastewater, the residual calcium is required to be pre-removed. Hyperkinetic Vortex Crystallization(HVC) process was installed in the electronics industry manufecturing semi conductor as a pilot scale for accelerating calcification of calcium ion. Compared to the conventional soda ash method, the 31% higher calcium removal efficiency was achieved when HVC was applied at the same sodium carbonate dosage. In order to maintain the economic calcium removal target of 70% preset by manufacturer, the dosing concentration of the soda ash was 530 mg/L based on influent flowrate. The seed concentration in the reactor was one of the critical factors and should be maintained in the range of $800\sim1,200mg$ SS/L to maximize the calcium removal efficiency. The calcite production rate was 0.30 g SS/g $Na_2CO_3$ in the average. The economic HVC passing time of the mixture was in the range of $2\sim5$ times. Relatively, stable calcium concentration was maintained in the range of $30\sim72$ mg/L(average 49 mg/L) although the calcium concentration in the feed was severely fluctuated with $74\sim359$ mg/L(average 173 mg/L). The HVC process was characterized as environment-friendly technology reducing chemical dosage and chemical sludge production and minimizing maintenance cost.

• Journal of Biosystems Engineering
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• v.6 no.1
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• pp.39-47
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• 1981

For purpose of investigation the proper paddy field condition in performance of rice transplanter according to the various elapsed times (0.5, 1, 1.5, 2 days) after puddling and plowing (12, 15, 18 cm depth), this experiment was carried out on the paddy field located in Chil Am Dong, Jin Ju City, from April to May in 1980. The results are summarized as follows; 1. The practical working power for the elapsed time 0.5 days and plowing depth 18cm was about 0.8 ps, which was the highest among the plots, so the power out-put(2.5~3.5 p.s) of these engines are considered to be enough for the transplanting under these field conditions. 2. The percentage of slip increased proportional1y to the plowing depth and decreased proportionally to the elapsed time after puddling, and the highest and lowest percentages of slip were 42.5% in elapsed time 0.5 days, plowing depth 18 cm, and 26.5% in elapsed time 2 days, plowing depth 12 cm, respectively. 3. In the plot of elapsed time 2 days and plowing depth 12 cm, the planting distance was 13.9 cm, which was closed to the proper planting distance 14 cm. 4. The percentage of missing hill was lowest(1.5%) in the plot of elapsed time 2 days and plowing depth 12 cm. 5. The planted depth in the plot of the elapsed time 2 days and plowing depth 15 cm was 2. 95 cm, which was closed to the proper planting depth 3 cm. 6. The angle of planting postures in the plot of elapsed time 2 days and plowing depth 12 cm was $89^{\circ}$, which was closed to the desirable posture angle $90^{\circ}$. 7. The deviation from the straight transplanting line was lowest in the plot of the elapsed time 2 days and plowing depth 12 cm. 8. From the results above mentioned, it is recommended that the field condition under the elapsed time 2 days and plowing depth 12 cm is the most favorable one for the working performance of rice thansplanter.