• Journal of Digital Convergence
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• v.14 no.7
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• pp.11-20
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• 2016

This study examines the possibility of implementing the technology financing for export-import based small and medium sized enterprises. Our sample consists of 2,753 small and medium sized enterprises, receiving financial support from the Export-Import Bank of Korea for the period of 2011-2013. We find that only 400(200) firms reserve IPs(patents) annually. Given that IPs are likely to concentrate on manufacturer industries such as electronic components, computers, video, sound and communication equipment manufacturing(KSIC 26), other machinery and equipment manufacturing(KSIC 29), manufacture of motor vehicles and trailers(KSIC 31). We also find that the total assets, sales and R&D expenses of IP holding companies greatly exceeds those of companies without IPs. In addition, IP holding companies' liquidity seems slight edge and the leverage ratio is somewhat lower. However, profitability ratios of IP holding companies are rather than harsh or similar level. 20~30% of IP holding firms show very week credit scores, implying that banks' default risk is expected to be significant.

• The Journal of the Convergence on Culture Technology
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• v.7 no.1
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• pp.37-41
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• 2021

In recent years, ESG investment is increasing worldwide, and awareness of ESG risks such as environment, society, and governance is increasing, and non-financial investments are considered when making investment decisions. With the recent Corvid 19 crisis, the focus is on the environment, and investments related to bio and health are gaining popularity, while new investments are completely suspended in coal-related businesses, and decisions are made in the direction of sequential termination or withdrawal of existing businesses This has resulted in an increasing number of managers setting climate change and sustainability as top priorities in their investment portfolios. As a result, it is necessary to present effective countermeasures to changes in the investment environment, and to make efforts to respond and prepare an investment system that can help build a risk management system. Therefore, I would like to briefly review the ESG investment trends and present implications considering shared growth and mutual benefit.

• Korean Journal of Construction Engineering and Management
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• v.13 no.4
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• pp.60-68
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• 2012

The past IMF foreign exchange crisis and subprime financial crisis had a big influence on variability of macroeconomics, even if the origin of its occurrence might be different. This not only had a significant infrequence on the overall industries, but also produced many insolvent companies by being closely linked with a management environment of an individual construction company leading the construction industry. Actually, the level of default risk of construction companies before and after fluctuation of macroeconomics gets to experience a rapid changing process, and a difference in reaction against shock exists according to each company. Accordingly, the purpose of this paper is to confirm the fluctuation process of the default risk of construction companies under the fluctuation of macroeconomics such as the IMF financial crisis and the subprime mortgage crisis. As an analysis result, it is judged that the subprime financial crisis gave bigger shock to construction companies than the foreign exchange crisis, and it is expected that this would have a relation with the construction market before shock of macroeconomics. In addition, it was analyzed that when comparing insolvent companies with normal companies, the recovery speed of normal companies is faster. It is judged that this was affected by a difference of internal business capacity between insolvent companies and normal companies.

• Proceedings of the Korea Water Resources Association Conference
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• 2011.05a
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• pp.104-104
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• 2011

2010년 기준 세계 물산업은 약 4,800억불 규모이며, 2025년에는 약 1조 달러 규모로 성장할 것으로 전망된다. 또한 기후변화 등의 요인으로 물산업의 범위는 물순환체계 전과정을 포괄하는 "유역종합개발+상하수도+대체수자원"으로 확장될 것으로 예측된다. 그러나 지금까지의 국내 물산업 육성은 주로 상하수도 분야 중심으로 국한되어, 기후변화에 대응한 유역종합개발 분야에 대한 시장 진출기회를 상실하고 있다. 상하수도 중심의 물산업은 이미 선진 메이저 기업들이 선점하여 치열한 경쟁이 벌어지고 있는 '레드오션'이라 할 수 있으므로, 새로운 물산업의 강국으로 부상하기 위해서는 우리가 가진 장점을 바탕으로 물산업의 새로운 영역을 개척하는 방안에 대한 연구가 필요한 시점이다. 본 연구는 먼저 국내외 물순환체계 전과정(유역종합개발+상하수도+대체수자원)에 대한 시장 조사을 통해 세계 물산업 시장을 프로젝트 유형별, 지역별로 분석하고, 이를 토대로 국내 물산업 육성과 해외진출을 위한 당면 과제를 다음과 같이 제시하였다. 첫째, 민관협력을 위한 제도적 틀을 형성할 필요가 있다. 정부의 역할이 매우 중요한데, 정부 또는 기금이 자금의 단순한 대부자에서 적극적인 투자자로 전환함으로서 국내 민간기업들의 해외시장 진입장벽을 낮추어 줄 필요가 있다. 정부 주도의 민관협력이 활성화되면 참여 기업의 재무적 리스크를 현저히 줄일 수 있다. 또한, 상하수도 운영 경험을 축적한 공기업이 해외진출 지원기능을 수행하도록 하여야 한다. 즉, 공기업이 민간 기업의 경쟁자가 아니라 지원자가 될 수 있도록 프레임을 바꿔주어야 한다. 둘째, 물산업 클러스터의 형성이다. 물산업 제조업은 대부분 중소 벤처기업으로 독자적인 해외진출이 곤란하므로, 물전문 공기업이 중소 벤처기업 육성 및 해외진출의 앵커 역할을 담당하는 것이 필요하다. 이스라엘이나 싱가포르의 물산업 클러스터처럼 Anchor 역할을 행하는 공기업과 민간기업이 장기적 협력관계를 구축할 수 있는 기반을 마련해야한다. 셋째, 신시장 역량의 창출이다. 기후변화로 크게 성장할 전망인 통합물관리 시장에 대한 전략적 접근이 요구된다. 우선 ODA 등 대외 원조자금을 활용하여 투자비가 적게 들고 정보를 선점할 수 있는 조사 설계부터 시작하여, 댐 및 수력개발, 상하수도 건설 운영 등에 단계적으로 접근할 수 있을 것이다. 또한, 향후 도입될 예정인 물인프라의 Smart 기술, 첨단 수처리 기술 등을 활용하여 새로운 시장을 개척해야 한다. 4대강살리기 사업, 해수담수화 등 조기에 경쟁우위를 갖출 수 있는 사업과 기술을 Flagship Project로 브랜드화하여 우리나라를 "물강국"으로 포지셔닝할 경우 세계 물시장 공략에 보다 효과적일 것으로 판단된다.

• Korean Journal of Construction Engineering and Management
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• v.19 no.4
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• pp.21-33
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• 2018

In 2018, the real estate markets have hardly been transacted according to the government's tight regulations of real estates, and have the high possibility to reach a low hit due to the hike of loan interest rates following the U. S rise of base money rate. The key profits for the large construction companies mainly come from the overseas plant projects and the domestic non-governmental construction projects. They suffered a lot such as the lowering of their credit ratings due to the large losses caused by the frquent design changes and work delay. Even in the domestic non-governmental construction projects, the general business risks are on the rise due to the property marketing moving over to the decreasing phase. The small and medium sized security companies has realized a lot of operaring profits as they participated in the PF market to make up for the losses in the securities trading business. But, now as the housing market is not so good around the nation except Seoul and the financial states of large construction companies are not good enough, they can face the liquidity crisis if there happens the problems in the PF backed securities which they have handled. As Korean economy experienced the crisis in the savings banks before, it is recommended that Financial Supervisory Service proposes the preemptive control method and supervision direction to overcome the crisis.

• The Journal of the Convergence on Culture Technology
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• v.8 no.2
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• pp.47-52
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• 2022

The purpose of this study is to identify the risk level of Chinese commercial banks' loan assets and to analyze what factors affect the stability of Chinese commercial banks. In addition, Chinese commercial banks are classified based on the asset size of 200 billion yuan, and the difference in stability according to size is investigated. The analysis results are as follows. First, it was estimated that as the proportion of household and corporate loans of commercial banks in China increased, the stability of banks decreased. Although the Chinese financial authorities are currently restricting the conservative management of loan assets, it will be necessary to preemptively manage risk on loan assets by setting an appropriate standard for loan-to-deposit ratio in the future. Second, as a result of analyzing the stability of large banks based on 200 billion yuan of bank assets, it was estimated that the stability of large banks was lower. As large banks are likely to conduct aggressive loan asset management, continuous management of non-performing assets is required in the future. This study will serve as a measure for improving the stability of commercial banks in China by estimating the effect of loan asset management of Chinese commercial banks on financial stability. In particular, by examining the stability of large banks, a strategy for sustainable development of the financial industry is required by diagnosing the weaknesses of large banks.

• Information Systems Review
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• v.25 no.1
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• pp.111-128
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• 2023

With the development of artificial intelligence technology, interest in data-based product preference estimation and personalized recommender systems is increasing. However, if the recommendation is not suitable, there is a risk that it may reduce the purchase intention of the customer and even extend to a huge financial loss due to the characteristics of the financial product. Therefore, developing a recommender system that comprehensively reflects customer characteristics and product preferences is very important for business performance creation and response to compliance issues. In the case of financial products, product preference is clearly divided according to individual investment propensity and risk aversion, so it is necessary to provide customized recommendation service by utilizing accumulated customer data. In addition to using these customer behavioral characteristics and transaction history data, we intend to solve the cold-start problem of the recommender system, including customer demographic information, asset information, and stock holding information. Therefore, this study found that the model proposed deep learning-based collaborative filtering by deriving customer latent preferences through characteristic information such as customer investment propensity, transaction history, and financial product information based on customer transaction log records was the best. Based on the customer's financial investment mechanism, this study is meaningful in developing a service that recommends a high-priority group by establishing a recommendation model that derives expected preferences for untraded financial products through financial product transaction data.

• Information Systems Review
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• v.24 no.1
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• pp.105-123
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• 2022

Thanks to the remarkable success of Artificial Intelligence (A.I.) techniques, a new possibility for its application on the real-world problem has begun. One of the prominent applications is the bankruptcy prediction model as it is often used as a basic knowledge base for credit scoring models in the financial industry. As a result, there has been extensive research on how to improve the prediction accuracy of the model. However, despite its impressive performance, it is difficult to implement machine learning (ML)-based models due to its intrinsic trait of obscurity, especially when the field requires or values an explanation about the result obtained by the model. The financial domain is one of the areas where explanation matters to stakeholders such as domain experts and customers. In this paper, we propose a novel approach to incorporate financial domain knowledge into local rule generation to provide explanations for the bankruptcy prediction model at instance level. The result shows the proposed method successfully selects and classifies the extracted rules based on the feasibility and information they convey to the users.

• The KIPS Transactions:PartD
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• v.12D no.3 s.99
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• pp.417-428
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• 2005

Today, IT organizations perform projects with vision related to marketing and financial profit. The objective of realizing the vision is to improve the project performing ability in terms of QCD. Organizations have made a lot of efforts to achieve this objective through process improvement. Large companies such as IBM, Ford, and GE have made over $80\%$ of success through business process re-engineering using information technology instead of business improvement effect by computers. It is important to collect, analyze and manage the data on performed projects to achieve the objective, but quantitative measurement is difficult as software is invisible and the effect and efficiency caused by process change are not visibly identified. Therefore, it is not easy to extract the strategy of improvement. This paper measures and analyzes the project performance, focusing on organizations' external effectiveness and internal efficiency (Qualify, Delivery, Cycle time, and Waste). Based on the measured project performance scores, an OT (Opportunity Tree) model was designed for optimizing the project performance. The process of design is as follows. First, meta data are derived from projects and analyzed by quantitative GQM(Goal-Question-Metric) questionnaire. Then, the project performance model is designed with the data obtained from the quantitative GQM questionnaire and organization's performance score for each area is calculated. The value is revised by integrating the measured scores by area vision weights from all stakeholders (CEO, middle-class managers, developer, investor, and custom). Through this, routes for improvement are presented and an optimized improvement method is suggested. Existing methods to improve software process have been highly effective in division of processes' but somewhat unsatisfactory in structural function to develop and systemically manage strategies by applying the processes to Projects. The proposed OT model provides a solution to this problem. The OT model is useful to provide an optimal improvement method in line with organization's goals and can reduce risks which may occur in the course of improving process if it is applied with proposed methods. In addition, satisfaction about the improvement strategy can be improved by obtaining input about vision weight from all stakeholders through the qualitative questionnaire and by reflecting it to the calculation. The OT is also useful to optimize the expansion of market and financial performance by controlling the ability of Quality, Delivery, Cycle time, and Waste.

• Journal of Intelligence and Information Systems
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• v.29 no.3
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• pp.287-316
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• 2023

As global energy crisis and the COVID-19 pandemic have emerged as social issues, there is a growing demand for companies to move away from profit-centric business models and embrace sustainable management that balances environmental, social, and governance (ESG) factors. ESG activities of companies vary across industries, and industry-specific weights are applied in ESG evaluations. Therefore, it is important to develop strategic management approaches that reflect the characteristics of each industry and the importance of each ESG factor. Additionally, with the stance of strengthened focus on ESG disclosures, specific guidelines are needed to identify and report on sustainable management activities of domestic companies. To understand corporate sustainability strategies, analyzing ESG reports and news articles by industry can help identify strategic characteristics in specific industries. However, each company has its own unique strategies and report structures, making it difficult to grasp detailed trends or action items. In our study, we analyzed ESG reports (2019-2021) and news articles (2019-2022) of six companies in the 'Finance,' 'Manufacturing,' and 'IT' sectors to examine the sustainability strategies of leading domestic ESG companies. Text mining techniques such as keyword frequency analysis and topic modeling were applied to identify industry-specific, ESG element-specific management strategies and issues. The analysis revealed that in the 'Finance' sector, customer-centric management strategies and efforts to promote an inclusive culture within and outside the company were prominent. Strategies addressing climate change, such as carbon neutrality and expanding green finance, were also emphasized. In the 'Manufacturing' sector, the focus was on creating sustainable communities through occupational health and safety issues, sustainable supply chain management, low-carbon technology development, and eco-friendly investments to achieve carbon neutrality. In the 'IT' sector, there was a tendency to focus on technological innovation and digital responsibility to enhance social value through technology. Furthermore, the key issues identified in the ESG factors were as follows: under the 'Environmental' element, issues such as greenhouse gas and carbon emission management, industry-specific eco-friendly activities, and green partnerships were identified. Under the 'Social' element, key issues included social contribution activities through stakeholder engagement, supporting the growth and coexistence of members and partner companies, and enhancing customer value through stable service provision. Under the 'Governance' element, key issues were identified as strengthening board independence through the appointment of outside directors, risk management and communication for sustainable growth, and establishing transparent governance structures. The exploration of the relationship between ESG disclosures in reports and ESG issues in news articles revealed that the sustainability strategies disclosed in reports were aligned with the issues related to ESG disclosed in news articles. However, there was a tendency to strengthen ESG activities for prevention and improvement after negative media coverage that could have a negative impact on corporate image. Additionally, environmental issues were mentioned more frequently in news articles compared to ESG reports, with environmental-related keywords being emphasized in the 'Finance' sector in the reports. Thus, ESG reports and news articles shared some similarities in content due to the sharing of information sources. However, the impact of media coverage influenced the emphasis on specific sustainability strategies, and the extent of mentioning environmental issues varied across documents. Based on our study, the following contributions were derived. From a practical perspective, companies need to consider their characteristics and establish sustainability strategies that align with their capabilities and situations. From an academic perspective, unlike previous studies on ESG strategies, we present a subdivided methodology through analysis considering the industry-specific characteristics of companies.