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The Exploration of New Business Areas in the Age of Economic Transformation : a Case of Korean 'Hidden Champions' (Small and Medium Niche Enterprises (경제구조 전환기에서 새로운 비즈니스 영역의 창출 : 강소기업의 성공함정과 신시장 개척)

  • Lee, Jangwoo
    • Korean small business review
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    • v.31 no.1
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    • pp.73-88
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    • 2009
  • This study examines the characteristics of 24 Korean hidden champions such as key success factors, core competences, strategic problems, and desirable future directions. The study categorized them into 8 types with Danny Miller's four trajectories and top manager's decision making style(rationality and passion). Danny Miller argued in his book, Icarus paradox, that outstanding firms will extend their orientations until they reach dangerous extremes and their momentum will result in common trajectories of decline. He suggested four very common success types: Craftsmen, Builders, Pioneers, Salesmen. He also suggested common trajectories of decline:Focusing(from Craftsmen to Tinkers), Venturing(from Builders to Imperialists), Inventing(from Pioneers to Escapists), Decoupling(from Salesmen to Drifts). In Korea, successful startups appear to possess three kinds of drive: Technology-drive, Vision-drive, Market-drive. Successful technology-driven firms tend to grow as craftsmen or pioneers. Successful vision-driven and market-driven ones tend to grow as builders and salesmen respectively. Korean top managers or founders seem to have two kinds of decision making style: Passion-based and Rationality-bases. Passion-based(passionate) entrepreneurs are biased towards action or proactiveness in competing and getting things done. Rationality- based ones tend to emphasis the effort devoted to scanning and analysing information to better understand a company's threats, opportunities and options. Consequently this study suggested 4*2 types of Korean hidden champions: (1) passionate craftsmen, (2) rational craftsmen, (3) passionate builders, (4) rational builders, (5) passionate pioneers, (6) rational pioneers, (7) passionate salesmen, (8) rational salesmen. These 8 type firms showed different success stories and appeared to possess different trajectories of decline. These hidden champions have acquired competitive advantage within domestic or globally niche markets in spite of the weak market power and lack of internal resources. They have maintained their sustainable competitiveness by utilizing three types of growth strategy; (1) penetrating into the global market, (2) exploring new service market, (3) occupying the domestic market. According to the types of growth strategy, these firms showed different financial outcomes and possessed different issues for maintaining their competitiveness. This study found that Korean hidden champions were facing serious challenges from the transforming economic structure these days and possessed the decline potential from their success momentum or self-complacence. It argues that they need to take a new growth engine not to decline in the turbulent environment. It also discusses how firms overcome the economic crisis and find a new business area in promising industries for the future. It summarized the recent policy of Korean government called as "Green Growth" and discussed how small firms utilize such benefits and supports from the government. Other implications for firm strategies and governmental policies were discussed.

Quality Characteristics of Apple Jangachi Manufactured by Farmhouse and Commercial Jangachi (농가생산 사과장아찌와 시판 장아찌의 품질 특성)

  • Oh, C.H.;Yang, J.H.;Kang, C.S.
    • Journal of Practical Agriculture & Fisheries Research
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    • v.18 no.1
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    • pp.79-91
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    • 2016
  • Quality factors which characterize 11 kinds of farm-manufactured apple Jangachi and commercial Jangachi, have been studied in order to provide a guideline to improve the quality and marketing strategy of farm-manufactured pickled apples. Moisture content ranged from 74% to 84% and 81% to 91% in Doenjang Jangachi and vinegar Jangachi, respectively; 38% to 64% in Kochujang Jangachi; 57% to 64% in radish Kochujang Jangachi. Moisture content was 89% in Doenjang Jangachi. Even though moisture content of apple Kochujang Jangachi indicated 48% which is lower than that of radish Jangachi, it was higher than that of a persimmon pickled in Kochujang (38%) and that of Japanese apricot Jangachi (49%). pH and titratable acidity, two indicators used to determine the appropriate ripening period of Jangachi, were pH 3.4~5.6, 0.03~0.14%, respectively. The pH ranged from 5.2 to 5.6 in radish Jangachi; 3.4 to 4.1 in Cucumber Jangachi. pH of persimmon Jangachi, Japanese apricot Jangachi and apple Jangachi showed 4.1, 3.5 and 4.1, respectively. Compared with the pH of traditional Jangachi (3.03~5.36), pH of all of the above Jangachi fall into an appropriate range. The brix of apple Jangachi (30%) was 12% to 18% higher than that of Kochujang radish Jangachi, but it was relatively lower than that of persimmon Jangachi (39%) and that of Japanese apricot Jangachi (49%). Salinity of Jangachi varied depending on which marinating material was used. Salinity in the descending order according to each marinating material demonstrated Kanjang (6% to 13%), Doenjang (7%), Kochujang (3% to 4%). Salinity of apple Jangachi was 3.28% which was relatively lower than that of commercial Jangachi which used either Kanjang or Doenjang as its marinating material. Chromaticity test shows that the brightness value of apple Jangachi (54.70) was similar to that of cucumber Jangachi (50.86, 56.02); the redness value and yellowness of apple Jangachi (16.21 and 26.78) were higher than the redness value (7.27 to 11.23) and the yellowness value (10.62 to 14.69) of radish Kochujang Jangachi. Sensory Characteristics value of apple Jangachi, along with radish and cucumber Jangachi in its color, odor and taste (7.00, 7.50, 7.00, respectively) placed high on the list implying higher preference. However, overall preference value of apple Jangachi was 6.83 which was lower than that of Japanese apricot Jangachi or that of radish Jangachi. The result can be explained by the tendency of people preferring crispy Jangachi and points out that the texture of apple Jangachi needs to be improved to gain popularity. Furthermore, for increased sales of apple Jangachi as a niche product, more rigorous market testing is required.

Research on ITB Contract Terms Classification Model for Risk Management in EPC Projects: Deep Learning-Based PLM Ensemble Techniques (EPC 프로젝트의 위험 관리를 위한 ITB 문서 조항 분류 모델 연구: 딥러닝 기반 PLM 앙상블 기법 활용)

  • Hyunsang Lee;Wonseok Lee;Bogeun Jo;Heejun Lee;Sangjin Oh;Sangwoo You;Maru Nam;Hyunsik Lee
    • KIPS Transactions on Software and Data Engineering
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    • v.12 no.11
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    • pp.471-480
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    • 2023
  • The Korean construction order volume in South Korea grew significantly from 91.3 trillion won in public orders in 2013 to a total of 212 trillion won in 2021, particularly in the private sector. As the size of the domestic and overseas markets grew, the scale and complexity of EPC (Engineering, Procurement, Construction) projects increased, and risk management of project management and ITB (Invitation to Bid) documents became a critical issue. The time granted to actual construction companies in the bidding process following the EPC project award is not only limited, but also extremely challenging to review all the risk terms in the ITB document due to manpower and cost issues. Previous research attempted to categorize the risk terms in EPC contract documents and detect them based on AI, but there were limitations to practical use due to problems related to data, such as the limit of labeled data utilization and class imbalance. Therefore, this study aims to develop an AI model that can categorize the contract terms based on the FIDIC Yellow 2017(Federation Internationale Des Ingenieurs-Conseils Contract terms) standard in detail, rather than defining and classifying risk terms like previous research. A multi-text classification function is necessary because the contract terms that need to be reviewed in detail may vary depending on the scale and type of the project. To enhance the performance of the multi-text classification model, we developed the ELECTRA PLM (Pre-trained Language Model) capable of efficiently learning the context of text data from the pre-training stage, and conducted a four-step experiment to validate the performance of the model. As a result, the ensemble version of the self-developed ITB-ELECTRA model and Legal-BERT achieved the best performance with a weighted average F1-Score of 76% in the classification of 57 contract terms.

An Experimental Study on Fine Dust Emissions near Special Modified Asphalt Pavement and Conventional Asphalt Pavement (특수개질 및 일반 아스팔트 포장체 도로변의 미세먼지 발생에 대한 실험적 연구)

  • Tae-Woo Kang;Hyeok-Jung Kim
    • Journal of the Korean Recycled Construction Resources Institute
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    • v.11 no.3
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    • pp.282-288
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    • 2023
  • In this study, we analyzed the amount of roadside fine dust generated from newly constructed specially modified asphalt pavement and general asphalt pavement from existing roads. We collected the 1,000 g (100 g/day) of dust samples from the roadside of the express bus terminal and commercial facility area in Chungcheongnam-do's C site at three-day intervals during the summer of 2022 and 2023. The collected samples were separated from fine dust according to size in the 75-150 ㎛ range and, were separated only from Tire and Road Wear Particles through density separation. No.1-3 are general asphalt pavement section as an existing road. Fine dust and Tire and Road Wear Particles in No.1-3 were 24.27 g, 24.36 g, 0.53 g, and 0.53 g, respectively, and the quantitative results for 2022 and 2023 were similar. On the other hand, No.4-6 are newly constructed specially modified asphalt pavement section. Fine dust decreased by 14.8 % and tire and road wear particles decreased by 29.6 % in 2023 compared to 2022 in No.4-6. In addition, according to the results of thermogravimetric analysis, Tire and road wear particles in No.1-3 are tire and road components at 30 % and 70 %, respectively. And Tire and road wear particles in No.4-6 are tire and road components at 35 % and 65 % in 2023, respectively. From these results, it was confirmed that the newly constructed specially modified asphalt pavement can be effective in reducing roadside fine dust and Tire and Road Wear Particles. However, there may be some shortcomings in conclusive research results due to limited space and sample collection period. In the future, we plan to conduct various case studies.

Comprehensive Review on the Implications of Extreme Weather Characteristics to Stormwater Nature-based Solutions (자연기반해법을 적용한 그린인프라 시설의 극한기후 영향 사례분석)

  • Miguel Enrico L. Robles;Franz Kevin F. Geronimo;Chiny C. Vispo;Haque Md Tashdedul;Minsu Jeon;Lee-Hyung Kim
    • Journal of Wetlands Research
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    • v.25 no.4
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    • pp.353-365
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    • 2023
  • The effects of climate change on green infrastructure and environmental media remain uncertain and context-specific despite numerous climate projections globally. In this study, the extreme weather conditions in seven major cities in South Korea were characterized through statistical analysis of 20-year daily meteorological data extracted fro m the Korea Meteorological Administration (KMA). Additionally, the impacts of extreme weather on Nature-based Solutions (NbS) were determined through a comprehensive review. The results of the statistical analysis and comprehensive review revealed the studied cities are potentially vulnerable to varying extreme weather conditions, depending on geographic location, surface imperviousness, and local weather patterns. Temperature extremes were seen as potential threats to the resilience of NbS in Seoul, as both the highest maximum and lowest minimum temperatures were observed in the mentioned city. Moreover, extreme values for precipitation and maximum wind speed were observed in cities from the southern part of South Korea, particularly Busan, Ulsan, and Jeju. It was also found that extremely low temperatures induce the most impact on the resilience of NbS and environmental media. Extremely cold conditions were identified to reduce the pollutant removal efficiency of biochar, sand, gravel, and woodchip, as well as the nutrient uptake capabilities of constructed wetlands (CWs). In response to the negative impacts of extreme weather on the effectiveness of NbS, several adaptation strategies, such as the addition of shading and insulation systems, were also identified in this study. The results of this study are seen as beneficial to improving the resilience of NbS in South Korea and other locations with similar climate characteristics.

Investigation on the water quality challenges and benefits of buffer zone application to Yongdam reservoir, Republic of Korea (용담호의 홍수터 적용을 위한 문제점 및 이점 조사 연구)

  • Franz Kevin Geronimo;Hyeseon Choi;Minsu Jeon;Lee-Hyung Kim
    • Journal of Wetlands Research
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    • v.25 no.4
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    • pp.274-283
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    • 2023
  • Buffer zones, an example of nature-based solutions, offer wide range of environmental, social and economic benefits due to their multifunctionality when applied to watershed areas promoting blue-green connectivity. This study evaluated the effects of buffer zone application to the water quality of Yongdam reservoir tributaries. Particularly, the challenges and improvement of the buffer zone design were identified and suggested, respectively. Water and soil samples were collected from a total of six sites in Yongdam reservoir from September 2021 to April 2022. Water quality analyses revealed that among the sites monitored, downstream of Sangjeonmyeon Galhyeonri (SG_W_D2) was found to have the highest concentration for water quality parameters turbidity, total suspended solids (TSS), chemical oxygen demand (COD), total phosphorus (TP) and total nitrogen (TN). This finding was attributed to the algal bloom observed during the sampling conducted in September and October 2021. It was found through the soil analyses that high TN and TP concentrations were also observed in all the agricultural land uses implying that nutrient accumulation in agricultural areas are high. Highest TN concentration was found in the agricultural area of Jeongcheonmyeon Wolpyeongri (JW_S_A) followed by Jucheonmyeon Sinyangri (JS_S_A) while the lowest TN concentration was found in the original soil of Sangjeonmyeon Galhyeonri (SG_S_O). Among the types of buffer zones identified in this study, Type II-A, Type II-B and Type III were found to have blue-green connectivity. However, initially, blue-green connectivity in these buffer zone types were not considered leading to poor design and poor performance. As such, improvement in the design considering blue-green network and renovation must be considered to optimize the performance of these buffer zones. The findings in this study is useful for designing buffer zones in the future.

Assessment of stream water quality and pollutant discharge loads affected by recycled irrigation in an agricultural watershed using HSPF and a multi-reservoir model (HSPF와 다중 저류지 모형을 이용한 농업지역 순환관개에 의한 하천 수질 및 배출부하 영향 분석)

  • Kyoung-Seok Lee;Dong Hoon Lee;Youngmi Ahn;Joo-Hyon Kang
    • Journal of Wetlands Research
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    • v.25 no.4
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    • pp.297-305
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    • 2023
  • The recycled irrigation is a type of irrigation that uses downstream water to fulfill irrigation demand in the upstream agricultural areas; the used irrigation water returns back to the downstream. The recycled irrigation is advantageous for securing irrigation water for plant growth, but the returned water typically contains high levels of nutrients due to excess nutrients inputs during the agricultural activities, potentially deteriorating stream water quality. Therefore, quantitative assessment on the effect of the recycled irrigation on the stream water quality is required to establish strategies for effective irrigation water supply and water quality management. For this purpose, a watershed model is generally used; however no functions to simulate the effects of the recycled irrigation are provided in the existing watershed models. In this study, we used multi-reservoir model coupled with the Hydrological Simulation Program-Fortran (HSPF) to estimate the effect of the recycled irrigation on the stream water quality. The study area was the Gwangok stream watershed, a subwatershed of Gyeseong stream watershed in Changnyeong county, Gyeongsangnam-do. The HSPF model was built, calibrated, and used to produce time series data of flow and water quality, which were used as hypothetical observation data to calibrate the multi-reservoir model. The calibrated multi-reservoir model was used for simulating the recycled irrigation. In the multi-reservoir model, the Gwangok watershed consisted of two subsystems, irrigation and the Gwangok stream, and the reactions (plant uptake, adsorption, desorption, and decay) within each subsystem, and fluxes of water and materials between the subsystems, were modeled. Using the developed model, three scenarios with different combinations of the operating conditions of the recycled irrigation were evaluated for their effects on the stream water quality.

Conceptual Model of Establishing Lifestyle (Lifestyle-DEPER [Decision, Execution, Personal Factor, Environment, Resources]) and Lifestyle Intervention Strategies (라이프스타일 형성 모델(Lifestyle-DEPER [Decision, Execution, Personal Factor, Environment, Resources])과 건강을 위한 라이프스타일 중재 전략)

  • Park, Ji-Hyuk;Park, Hae Yean;Hong, Ickpyo;Han, Dae-Sung;Lim, Young-Myoung;Kim, Ah-Ram;Nam, Sanghun;Park, Kang-Hyun;Lim, Seungju;Bae, Suyeong;Jin, Yeonju
    • Therapeutic Science for Rehabilitation
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    • v.12 no.4
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    • pp.9-22
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    • 2023
  • The Lifestyle-DEPER (Decision, Execution, Personal Factors, Environment, Resources) model explains lifestyle formation. Lifestyles are shaped through the decision, execution, and habituation stages. Factors influencing the establishment of a lifestyle are categorized as environmental, resource, and personal. The environment encompasses our surroundings and social, physical, cultural, and virtual environments. Resources refer to what individuals possess, such as health, time, economic, and social resources. Personal factors include competencies, needs, and values. At the lifestyle establishment stage, each of these factors influences a different stage. These collective processes are referred to as events, encompassing both personal and social events. Health-related lifestyle factors include physical activity, nutrition, social relationships, and occupational participation. These are the goals of lifestyle intervention. The intervention strategy based on the Lifestyle-DEPER model, called KEEP (Knowledge, Evaluation, Experience, Plan), is a comprehensive approach to promoting a healthy lifestyle by considering lifestyle formation stages and their influencing factors. This study introduces the Lifestyle-DEPER model and presents a lifestyle intervention strategy (KEEP) to promote health. Further research is required to validate the practicality of the model after applying interventions based on the lifestyle construction model.

Development of Economic Analysis Indicators and Case Scenario Analysis for Decision-making support for Off-Site Construction Utilization of Apartment Houses (OSC 활용 의사결정 지원을 위한 경제성 분석 지표 개발 및 사례 시나리오 분석 - 공동주택 PC공법을 중심으로 -)

  • Yun, Won-Gun;Bae, Byung-Yun;Shin, Eun-Young;Kang, Tai-Kyung
    • Korean Journal of Construction Engineering and Management
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    • v.24 no.6
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    • pp.24-35
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    • 2023
  • Recently, the Ministry of Land, Infrastructure and Transport presented the '6th Construction Technology Promotion Basic Plan' and 'Smart Construction Revitalization Plan (2022.7.20)'. Off-Site Construction (OSC), which involves construction and production of PC (Precast Concrete) and Modular, etc., has advantages in shortening the construction period, reducing costs, improving quality, reducing construction waste, and reducing safety accidents. However, the construction cost is high compared to the traditional RC construction method, which has hindered its utilization and spread. In this study, OSC utilization was improved. An economic analysis indicator and methodology that can support decision-making in the planning and design stages for multi-unit housing were proposed. The factors used in the economic analysis of OSC (based on the PC method) of apartment houses were reviewed. As for the indicators used in the cost and benefit section, 'Construction Period', 'Disaster Occurrence', 'Waste Generation', and 'Greenhouse gas Emission', which reflect the technical advantages of OSC, were derived. In addition, a scenario analysis was conducted based on actual apartment housing case data for the presented economic analysis indicators and benefit calculation standards. The level of benefit that offsets the difference between the existing RC construction method and the construction cost was reviewed. In future studies, it will be necessary to conduct additional case studies to apply the measurement criteria for detailed indicators and supplement the benefit indicators.

A Study on Rumen Fermentation Characteristics and Greenhouse Gas Emission of Forages in South Korea (국내 조사료별 반추위 내 발효특성과 온실가스 발생량에 관한 연구)

  • Young Ho Joo;Ji Yoon Kim;Myeong Ji Seo;Chang Hyun Baeg;Seung Min Jeong;Sam Churl Kim
    • Journal of The Korean Society of Grassland and Forage Science
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    • v.43 no.4
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    • pp.268-273
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    • 2023
  • The present study estimated rumen fermentation characteristics and greenhouse gas emissions of different forages. Alfalfa, timothy, tall fescue, Italian ryegrass, and rice straw as the main forage sources for Hanwoo were used in the present study. Crude protein was highest in alfalfa but lowest in rice straw (p<0.05). Ether extract was higher in alfalfa and Italian ryegrass than in the other forages (p<0.05). Crude ash was highest in rice straw but lowest in tall fescue (p<0.05). Neutral detergent fiber was highest in tall fescue but lowest in alfalfa (p<0.05). Acid detergent fiber was highest in Italian ryegrass and rice straw but lowest in alfalfa (p<0.05). In vitro digestibilities of dry matter (DMD) and neutral detergent fiber (NDFD) were highest in timothy but lowest in rice straw (p<0.05). Rumen pH was highest (p<0.05) in alfalfa, while ammonia-N was higher (p<0.05) in alfalfa and Italian ryegrass than in the other forages. Total volatile fatty acid was highest (p<0.05) in timothy, while acetate and propionate were highest (p<0.05) in alfalfa and rice straw, respectively. Acetate to propionate ratio was higher (p<0.05) in alfalfa, timothy, and Italian ryegrass than in rice straw. Rice straw had lowest total gas (mL) (p<0.05) but highest its per DMD and NDFD. Rice straw had higher (p<0.05) CO2 (per DMD and NDFD) compared to alfalfa (per DMD and NDFD), timothy (per DMD and NDFD), tall fescue (per NDFD), and Italian ryegrass (per DMD). Again, rice straw had higher (p<0.05) CH4 (per DMD and NDFD) compared to timothy (per DMD and NDFD) and tall fescue (per NDFD). Therefore, this study indicates that timothy has a higher nutrient digestibility and volatile fatty acid in the rumen leading to a reduction of greenhouse gas emission.