• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.4
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• pp.45-70
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• 2009

This article investigates which types of the strategies announced by the listed firms contribute to enhancing the long-term performance of the companies. Since 2002, Korean Exchange adopted the "faire disclosure policy" which mandates that all publicly traded companies must disclose material information to all investors at the same time. Thanks to the policy, Korean investors can, now, easily access the board's decision on management strategies on the same day the decision is made. If the companies trustfully carry out their announced strategies, we can decide which types of strategies actually enhance or deteriorate the long-term performance, simply by comparing the announced strategies and the firm's performance. The sample companies are confined to 60 firms that became listed in the KOSDAQ market through back-door listing from 2003 to 2005. Using only the newly listed companies, we can avoid the interference on the long-term performance of the strategies pursued before the event date. This often holds true, for many companies radically modify their strategies after the listing. Furthermore, the back-door listing companies serve our purpose better than IPO companies do, because the former tend to have a variety of announcement within a given period of time beginning the listing date. Using these sample companies, this article analyzes the effect on one year buy-and-hold returns and abnormal buy-and-hold returns after the listing of the various types of strategies announced during the same period of time. The results show that those evidences of restructuring such as 'reduction of capital' and 'resignation of incumbent board members', actually contribute to the increase in adjusted long-term stock returns. Those strategies which can be view as evidence of new investment such as 'increase in tangible assets', 'acquisition of other companies', do also helps the stockholders better off. On the contrary, 'increase in bank loans', 'changes of CEO' and 'merger' deteriorate the equity value. The last findings let us to presume that the back-door listing companies appear to use the bank loans for value-reducing activities; the change in CEO is not a sign of restructuring, but rather a sign of failure of the restructuring; another merger carried out after back-door listing itself is also value-reducing activity. This article's findings on reduction of capital, merger and bank loans oppose the results of the former empirical studies which analyze only the short-term effect on stock price. Therefore, more long-term performance studies on public disclosures are in order.

• Journal of Distribution Research
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• v.16 no.5
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• pp.63-84
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• 2011

There are about 1,500 small or large traditional markets in Korea. Those conventional markets have been struggling for survival in rapidly changing market environment with highly intensified competition by accelerating the entrance of the Large-scale Discount Store and Super Supermarket which are managed and supported by Large companies like Samsung and Lotte. The loosing power of conventional markets have threatened the local merchants' survival and have influenced local economics falling down. To create better value for the customers who have more preference for department store and discount stores than conventional markets, conventional markets should have market orientation, which has three sub dimensions; customer orientation, competitor orientation and inter-functional coordinations. First objective of study is to find the appropriate roles of conventional markets in local areas. Second is to find out the market orientation functions for conventional markets to be survival in local markets in the long terms. Finally, this study will suggest some policies for the appropriate types of successful conventional markets considering various local situations. To achieve those objectives, we did the following procedure. First, we review the previous reports and studies of policies for conventional markets and local economy development, and propose some pros and cons of the previous policies. Secondly, we develop a market orientation framework of conventional markets, in which we suggest the developmental types and functions of market-orientation of conventional markets in accordance with the characteristics of local market and economic conditions of local areas. Then we formulate and discuss the study's contributions, managerial implications, and directions for future policy development. Especially for the policy development, we suggest the efficiency and economical effects of policy, human being development and management system, and the role of government and protection of local merchants in the development process.

• Journal of Korea Port Economic Association
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• v.31 no.2
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• pp.1-21
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• 2015

This study verifies the change in market conditions in the Korea-China and Korea-Japan car ferry routes. Variation in historical development has led to differences in the lifecycle stages of these two car ferry shipping markets. However, previous studies have focused on individual car ferry routes rather than offering a more general understanding of this market. Based on the foregoing, we investigate the international car ferry market conditions from/to Korean ports, assess the management performances of car ferry companies, analyze the lifecycle stages of each car ferry route, and offer insights into the future of these markets. We show that the competitive market conditions and demands of passengers and cargoes differ between these routes. As for the market stage, we conclude that the Korea-China route is entering a mature market, whereas the Korea-Japan route is entering a declining stage.

• Journal of Industrial Convergence
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• v.22 no.10
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• pp.1-9
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• 2024

E-commerce has emerged as a key economic driver in the digital age, and the importance of the e-commerce market has been highlighted, leading to rapid expansion in related research areas. This paper analyzes the research trends on e-commerce from 1996, when e-commerce emerged and research began, to the present day. To this end, we used R and LDA topic modeling techniques and conducted a validity test on the number of topics and an analysis of the predictive value of the topic model centered on the core keyword "e-commerce" using the SCOPUS, a foreign academic database. The analysis of topics showed that ecommerce, model, study, data, and online were among the important topics. Logistics was also found to be important. In the rapidly changing and complex e-commerce market environment, it is important to respond to the diversification of business models and the establishment of a stable revenue structure to survive. As the continuous growth of the e-commerce market is predicted, the results of this study can be used as basic data for entering the e-commerce market and expanding business through countermeasures and strategies.

• Women's Studies Review
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• v.28 no.1
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• pp.3-42
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• 2011

This study aims to analyze the characteristics of transnational cigarette companies' strategies to expand the female market in Korea after the market opening of 1988. Focusing on 'Virginia Slims' and 'Finesse', which are the PM and BAT's representative female brands, this study explores whether their typical advertising strategies were transformed in Korean market. After 3years from the market opening, 'Virginia Slims' gave up its brand identity and the strategy was so successful that 'Virginia Slims' continued to be 2nd best-selling brand in the imported cigarette market in Korea. In contrast, 'Finesse' maintained a typical women's cigarette image during the 1990s and consequently occupied the highest brand awareness as a female cigarette but lower market share than Virginia Slims. TTCs adapted to a doubly obstructed Korea market with its strong taboo against female smoking and a comparatively stronger legal ban on all cigarette ads targeting women. However, diverse indirect cigarette ads and promotions, which circumvented regulations, suggest that ads transforming was not to give up Korean female customers. Furthermore, the cigarette ads that the soft and mild taste of female brands are associated with healthy image rather than gendered image may appeal to Korean women without touching their emotions and desires.

• Archives of design research
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• v.18 no.1 s.59
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• pp.135-144
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• 2005

Consumers' awareness of product value, and their product preferences, are becoming increasingly influential in product development, particularly in corporations' efforts in manufacturing products with a competitive edge. Corporations conduct surveys on consumers' product satisfaction and preferences and conduct in-depth studies on consumer needs. They then manufacture products in accordance with the results of these surveys and studies. With the necessity and demand for digital door lock products recently growing, this research sought to explore product competitiveness reinforcement factors that could facilitate market penetration, and to formulate corresponding design strategies. In-depth consumer interviews were also conducted to identify consumer lifestyles and needs. Furthermore, consumer preference images, purchase and use-related patterns, and the status of door lock markets were studied. In the past, to design and manufacture consumer-oriented products, corporations primarily resorted to the improvement of the products' technological features. At present, the users' product preferences and the ways that they use these products are the factors that determine product design. Consumers today tend to adjust their lifestyles according to available products, and prefer products that have greater value in terms of lifestyle and culture. Strategic points for reinforcing competitiveness were presented in this study: first, offering different values that will enhance consumer satisfaction, second, positively developing bio-recognizable methods that will boost consumer preference, third, meeting the consumers' expectations that door lock products should not be mere 'entrance and exit control' systems, but network security systems and fourth, adopting convenient authentication methods backed by advanced technologies.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.1
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• pp.119-133
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• 2024

As a result of significant investments by the government in promoting public technology commercialization and fostering a venture startup ecosystem, there have been quantitative achievements, such as the registration of over 1,600 Innopolis Start-ups since 2006, generating a total revenue of 1.1 trillion won as of 2021. However, these achievements have been overshadowed by critical qualitative challenges, including a continuous decline in average revenue per Innopolis Start-up. This led to a focus on whether managers' technological and market orientations affect business performance. This study aims to provide insights into improving the qualitative growth of Innopolis Start-ups by analyzing the effects of technological and market orientations on business performance, as well as the moderating effects of adjusting marketing and research and development (R&D) costs on this relationship. Through prior research and empirical analysis, this study derives three main findings. First, technological excellence and innovation significantly influence the business performance of Innopolis Start-ups, while technological intensity does not. Second, customer orientation and competitive orientation significantly impact business performance, whereas entry barriers as a single factor do not. Third, adjusting marketing and R&D costs, as controlled variables obtained through general situations, has no direct impact on other variables. However, it interacts with entry barriers, influencing financial business performance, with R&D costs exhibiting a negative buffering effect and marketing costs showing a positive enhancing effect. This study confirms that both technological and market orientations directly influence the business performance of Innopolis Start-ups, thus being crucial factors affecting their growth. Moreover, it establishes that investments in marketing and R&D play significant roles in alleviating initial entry barriers and enhancing financial performance. Consequently, it underscores the importance of reinforcing technological and market orientations tailored to the characteristics of Innopolis Start-ups. Additionally, it proposes five theoretical contributions: strengthening institutional support systems for technology commercialization and innovation, improving qualitative evaluation criteria during the selection process of Innopolis Start-ups, conducting comprehensive analyses of technological and market aspects during startup selection, enhancing support for marketing education and consulting for smooth market entry, and supporting expenditure strategies and milestone setting tailored to the industrial characteristics of individual Innopolis Start-ups.

• Proceedings of the Korea Multimedia Society Conference
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• 2012.05a
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• pp.345-348
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• 2012

본 논문은 만성질환 환자를 위한 인체 삽입형 시스템을 구현하기 위해서 의료용 통신 기술을 사용한 생체신호의 송수신 및 제어가 가능하며, 무선전력전송 기술을 통해 반영구적 사용을 가능하게 하는 IT융합형 인체 삽압형 시스템 플랫폼 원천기술을 개발하고 생리기능(혈당, 혈압, 심장박동 등) 감시가 가능한 이식형 융복합 시스템 기술에 관하여 분석하였다. 인체삽입형 생리기능 자동감시 시스템은 사후진단 및 치료에서 능동적인 조기진단과 예방으로 진화하고 있으며 신기술 및 융합 기술이 의료기기의 응용 범위를 더욱 확대하는 방향으로 가고 있다. 미국/유럽 등 선진국이 대부분의 시장을 차지하고 있으므로 국내개발 성공시 수입대체 효과뿐만 아니라 기술적 격차 극복을 통한 세계 시장 진출도 가능하다. 이 분야는 세계적 경쟁력을 가진 국내 IT 산업과의 강한 시너지를 통하여 복합 기술형 첨단 의료기기의 기술경쟁력을 제고하고, 진입장벽이 높은 미래 첨단산업 시장 진출에 의한 국가전략산업 육성에 기여할 수 있을 것으로 기대된다.

• The Korean Journal of Franchise Management
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• v.2 no.1
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• pp.1-45
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• 2011

Franchising is one of the most effective strategies in promoting business establishment, creating jobs and accelerating economic growth. Thus, many countries in the world foster franchise business and support the franchise industry by enacting relevant regulations and making development policies. Vietnam deregulated franchise market through making franchise-related laws on June, 2005 and after joining WTO in 2009, Vietnamese government opened up the franchise market by letting foreign investors acquire 100% share on their investment in Vietnam. In addition, Vietnamese consumer's rapidly growing income and increasing liking for western life style make Vietnamese franchise market attractive and profitable. For this reason, many global franchise firms are competing to get the best seats. However, there has been no Korean attempt to profoundly study over Vietnamese franchise market. The purpose of this study would focus on analyzing and evaluating cases of Korean and international firms which successfully entered Vietnamese market and on proposing effective strategies and key success factors. The result of this study indicates that the companies successfully settled down to the Vietnamese market have developed marketing strategies which fit their strengths, and their common key success factors are 1) making the best of first mover advantage, 2) adapting themselves to local tastes and behaviors via systematic and scientific market research, 3) making thorough supervision on safety and hygiene, 4) doing strategy of firstly directly being operated and settled down by franchisor, later being managed by franchisees, 5) benchmarking both successful and failed cases in other countries.

• Asia Marketing Journal
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• v.13 no.4
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• pp.227-251
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• 2012

This study analyzed Woori Investment and Securities' industry-leading marketing from both a brand management and a marketing decision-making perspective. By executing a different marketing strategy from its competitors, Woori Investment and Securities recognized recent changes in the asset management and investment markets as an open opportunity, and quickly responded to the market changes. First, the company launched the octo brand as a multi-account product, two years before its competitors offered their own products. In particular, it created a differentiated brand image, using the blue octopus character, which became familiar to the general financial community, and was consistently employed as part of an integrated marketing communications strategy. Second, it executed a brand expansion strategy by sub-branding octo in a variety of new financial products, responding to rapid changes in the domestic financial and asset management markets. Through this strategic evolution, the octo brand became a successful wealth management brand and representative of Woori Investment & Securities. Third, it has converged market research, demand and trend analysis, and customer needs acquired through various customer contact channels into a marketing perspective. Thus, marketing has participated in the product development stage, a rarity in the finance industry. Woori Investment and Securities has a leading marketing system. The heart of the successful product creation lies in a collaboration of their customer bases among the finance companies in the Woori Financial Group. The present study suggested a corresponding strategy for octo brand, which is expected to enter into the maturity stage of its product life cycle. In addition, this study found a need to modify the current positioning strategy in order to position and preserve sustainability in the increasingly competitive asset management market. It also suggested the need for an offensive strategy to counter the number one M/S company, and address the issue of cannibalism in the Woori Financial Group.