• Title/Summary/Keyword: 해외자회사

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A Study on the Elliptical Gear Design for Oval flowmeter (오발 유량계에 사용되는 타원형 기어 설계에 관한 연구)

  • Park, Jin Joo;Lee, Eung Seok
    • Transactions of the Korean Society of Mechanical Engineers A
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    • v.37 no.8
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    • pp.1029-1033
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    • 2013
  • Elliptical gear is used as a rotor of oval flowmeter. The elliptical gear can assist water flow-rate measurement by the space of the elliptical shape. Presently, elliptical gears have been processed using hob tool imported from Japan. But if it were not for the technical cooperation with Japan company, the Elliptical gears can't be processed. The purpose of this study is developing a domestic technology for elliptical gears and overcoming the dependence of foreign technical skills. It will bring the import substitution effect. In case of pressure angle $20^{\circ}$, the elliptical gears have an interference of tooth. The increase of pressure angle makes the root of a tooth thick and the top of tooth thin. By results of this study, tooth of elliptical gear was designed and verified through the 2D and 3D simulation.

The Moderating Effects of Specificity of Technology in the Knowledge Transfer of Distributive Manufacturing MNEs (유통제조 기업의 해외 자회사 지식이전에서 기술특유성의 조절효과)

  • Cho, Yeon-Sung
    • Journal of Distribution Science
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    • v.14 no.9
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    • pp.121-132
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    • 2016
  • Purpose - This study has the following objectives. First, it seeks to build an integrated model that can analyze the path through which headquarters, subsidiary competence, and knowledge transfer performance influence subsidiary performance. Second, it analyzes the influence of the specificity of technology as a moderating effect factor on knowledge transfer process. Third, it will conduct an empirical analysis on distributive manufacturing MNEs and suggests an implication for companies that actually need technological localization. The difference of this study are as follows. First, unlike the existing studies, this study can expand a theoretical discussion as it uses subsidiary performance as the dependent variable. Second, it sets the specificity of technology as a moderating effect factor, not an antecedent, and can draw a theoretical implication. Research design, data, and methodology - This study built a path analysis model to identify the influence of the disseminative capacity and absorptive capacity of distributive manufacturing MNEs on subsidiary performance. Based on the previous studies, it set 19 items as 5 latent variables, and established 6 hypotheses by including the moderating effect of the specificity of technology between them. The final 203 companies were selected as analysis samples through a survey questionnaire. For empirical analysis, the study used PLS (Partial Least Square) that is based on structural equation model. Results - The empirical analysis result demonstrated that both headquarters' disseminative capability and subsidiaries absorptive capacity had a positive influence on knowledge transfer performance. Knowledge transfer performance also had a positive influence on subsidiary performance. In the analysis of moderating effect, the specificity of technology acted as a significant moderating variable only between knowledge transfer performance and subsidiary performance; it did not show a statistically significant moderating effect among disseminative capability, absorptive capacity, and knowledge transfer performance. Conclusions - The empirical analysis results of this study demonstrate the importance of disseminative capability and absorptive capacity in knowledge transfer to subsidiaries from the distributive manufacturing MNEs in Korea. The analysis on the moderating effect indicates that the specificity of technology in Korean companies influences on the process of making achievement by using the transferred knowledge.

A Study on the Revitalization Strategy for Inter-Korean Railway by Building the Railway Logistics Depot - Focused on the Donghae Line - (철도 물류기지 구축을 통한 남북철도 활성화 방안 연구 - 동해선을 중심으로 -)

  • Kim, Young-Min;Cho, Chi-Hyun
    • Journal of Distribution Science
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    • v.8 no.2
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    • pp.5-12
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    • 2010
  • The allotment rate for railway transportation keeps an yearly 6% in Korea. However, the railway logistics will cause the opposite result according to the continuous investment and logistics rationalization. The study on railway logistics as well as inter-Korean railway that might highly contribute to the development of railway logistics is not enough at all. The purpose of this paper is to study the revitalization strategy for inter-Korean railway by forecasting the demand and the scale of railway logistics depot. The revitalization strategies for inter-Korean railway through railway logistics depot are as followings. First, it is necessary to strengthen the partnership with coal user in the logistics depot. Second, it is encouraged to provide the financial assistance that are needed in the maintenance of the decrepit North Korea's track as well as the establishment of Donghae northern line that is from Gangneung to Jejin. Third, the railway cost on long/short transportation and large sized shipper is needed to apply in a flexible way. Fourth, it is necessary to obtain the railway traffic right by involving the foreign mining development. Fifth, it is encouraged to constantly find the small sized shipper like cement company.

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Performance Indicator and Threshold Value of National Highway Jointed Concrete Pavements (일반국도 줄눈 콘크리트 포장의 성능인자와 임계한도)

  • Yeo, Hyun Dong;Seo, Youngguk;Suh, Young Chan;Jeong, Jin Hoon
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.30 no.3D
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    • pp.279-288
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    • 2010
  • Recently, researches on the performance warranty contracting has been going on to improve construction quality in road pavement area. The performance warranty contracting gives construction companies opportunity to select materials and methods freely while asks them to maintain a certain level of performance during a given period. To introduce the performance warranty contracting in Korea, lots of research results on performance indicator and threshold value of asphalt pavement have been made to be included in the warranty specification. However, research effort on the performance indicator and threshold value of concrete pavement which is commonly constructed in expressway and national highway has not been enough. In this study, the warranty duration, performance indicator, and threshold value of the concrete pavement were investigated by reviewing literatures on cases of the performance warranty contracting in European countries and states of the US. Major distresses influencing the performance of jointed concrete pavement were investigated and analyzed to be compared to the warranty duration, performance indicator, and threshold value of foreign countries.

The Advancement of Underwriting Skill by Selective Risk Acceptance (보험Risk 세분화를 통한 언더라이팅 기법 선진화 방안)

  • Lee, Chan-Hee
    • The Journal of the Korean life insurance medical association
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    • v.24
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    • pp.49-78
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    • 2005
  • Ⅰ. 연구(硏究) 배경(背景) 및 목적(目的) o 우리나라 보험시장의 세대가입율은 86%로 보험시장 성숙기에 진입하였으며 기존의 전통적인 전업채널에서 방카슈랑스의 도입, 온라인전문보험사의 출현, TM 영업의 성장세 等멀티채널로 진행되고 있음 o LTC(장기간병), CI(치명적질환), 실손의료보험 등(等)선 진형 건강상품의 잇따른 출시로 보험리스크 관리측면에서 언더라이팅의 대비가 절실한 시점임 o 상품과 마케팅 等언더라이팅 측면에서 매우 밀접한 영역의 변화에 발맞추어 언더라이팅의 인수기법의 선진화가 시급히 요구되는 상황하에서 위험을 적절히 분류하고 평가하는 선진적 언더라이팅 기법 구축이 필수 적임 o 궁극적으로 고객의 다양한 보장니드 충족과 상품, 마케팅, 언더라이팅의 경쟁력 강화를 통한 보험사의 종합이익 극대화에 기여할 수 있는 방안을 모색하고자 함 Ⅱ. 선진보험시장(先進保險市場)Risk 세분화사례(細分化事例) 1. 환경적위험(環境的危險)에 따른 보험료(保險料) 차등(差等) (1) 위험직업 보험료 할증 o 미국, 유럽등(等) 대부분의 선진시장에서는 가입당시 피보험자의 직업위험도에 따라 보험료를 차등 적용중(中)임 o 가입하는 보장급부에 따라 직업 분류방법 및 할증방식도 상이하며 일반사망과 재해사망,납입면제, DI에 대해서 별도의 방법을 사용함 o 할증적용은 표준위험율의 일정배수를 적용하여 할증 보험료를 산출하거나, 가입금액당 일정한 추가보험료를 적용하고 있음 - 광부의 경우 재해사망 가입시 표준위험율의 300% 적용하며, 일반사망 가입시 $1,000당 $2.95 할증보험료 부가 (2) 위험취미 보험료 할증 o 취미와 관련 사고의 지속적 다발로 취미활동도 위험요소로 인식되어 보험료를 차등 적용중(中)임 o 할증보험료는 보험가입금액당 일정비율로 부가(가입 금액과 무관)하며, 신종레포츠 등(等)일부 위험취미는 통계의 부족으로 언더라이터가 할증율 결정하여 적용함 - 패러글라이딩 년(年)$26{\sim}50$회(回) 취미생활의 경우 가입금액 $1,000당 재해사망 $2, DI보험 8$ 할증보험료 부가 o 보험료 할증과는 별도로 위험취미에 대한 부담보를 적용함. 위험취미 활동으로 인한 보험사고 발생시 사망을 포함한 모든 급부에 대한 보장을 부(不)담보로 인수함. (3) 위험지역 거주/ 여행 보험료 할증 o 피보험자가 거주하고 있는 특정국가의 임시 혹은 영구적 거주시 기후위험, 거주지역의 위생과 의료수준, 여행위험, 전쟁과 폭동위험 등(等)을 고려하여 평가 o 일반사망, 재해사망 등(等)보장급부별로 할증보험료 부가 또는 거절 o 할증보험료는 보험全기간에 대해 동일하게 적용 - 러시아의 경우 가입금액 $1,000당 일반사망은 2$의 할증보험료 부가, 재해사망은 거절 (4) 기타 위험도에 대한 보험료 차등 o 비행관련 위험은 세가지로 분류(항공운송기, 개인비행, 군사비행), 청약서, 추가질문서, 진단서, 비행이력 정보를 바탕으로 할증보험료를 부가함 - 농약살포비행기조종사의 경우 가입금액 $1,000당 일반사망 6$의 할증보험료 부가, 재해사망은 거절 o 미국, 일본등(等)서는 교통사고나 교통위반 관련 기록을 활용하여 무(無)사고운전자에 대해 보험료 할인(우량체 위험요소로 활용) 2. 신체적위험도(身體的危險度)에 따른 보험료차등(保險料差等) (1) 표준미달체 보험료 할증 1) 총위험지수 500(초과위험지수 400)까지 인수 o 300이하는 25점단위, 300점 초과는 50점 단위로 13단계로 구분하여 할증보험료를 적용중(中)임 2) 삭감법과 할증법을 동시 적용 o 보험금 삭감부분만큼 할증보험료가 감소하는 효과가 있어 청약자에게 선택의 기회를 제공할수 있으며 고(高)위험 피보험자에게 유용함 3) 특정암에 대한 기왕력자에 대해 단기(Temporary)할증 적용 o 질병성향에 따라 가입후 $1{\sim}5$년간 할증보험료를 부가하고 보험료 할증 기간이 경과한 후에는 표준체보험료를 부가함 4) 할증보험료 반환옵션(Return of the extra premium)의 적용 o 보험계약이 유지중(中)이며, 일정기간 생존시 할증보험료가 반환됨 (2) 표준미달체 급부증액(Enhanced annuity) o 영국에서는 표준미달체를 대상으로 연금급부를 증가시킨 증액형 연금(Enhanced annuity) 상품을 개발 판매중(中)임 o 흡연, 직업, 병력 등(等)다양한 신체적, 환경적 위험도에 따라 표준체에 비해 증액연금을 차등 지급함 (3) 우량 피보험체 가격 세분화 o 미국시장에서는 $8{\sim}14$개 의적, 비(非)의적 위험요소에 대한 평가기준에 따라 표준체를 최대 8개 Class로 분류하여 할인보험료를 차등 적용 - 기왕력, 혈압, 가족력, 흡연, BMI, 콜레스테롤, 운전, 위험취미, 거주지, 비행력, 음주/마약 등(等) o 할인율은 회사, Class, 가입기준에 따라 상이(최대75%)하며, 가입연령은 최저 $16{\sim}20$세, 최대 $65{\sim}75$세, 최저보험금액은 10만달러(HIV검사가 필요한 최저 금액) o 일본시장에서는 $3{\sim}4$개 위험요소에 따라 $3{\sim}4$개 Class로 분류 우량체 할인중(中)임 o 유럽시장에서는 영국 등(等)일부시장에서만 비(非)흡연할인 또는 우량체할인 적용 Ⅲ. 국내보험시장(國內保險市場) 현황(現況)및 문제점(問題點) 1. 환경적위험도(環境的危險度)에 따른 가입한도제한(加入限度制限) (1) 위험직업 보험가입 제한 o 업계공동의 직업별 표준위험등급에 따라 각 보험사 자체적으로 위험등급별 가입한도를 설정 운영중(中)임. 비(非)위험직과의 형평성, 고(高)위험직업 보장 한계, 수익구조 불안정화 등(等)문제점을 내포하고 있음 - 광부의 경우 위험1급 적용으로 사망 최대 1억(億), 입원 1일(日) 2만원까지 제한 o 금융감독원이 2002년(年)7월(月)위험등급별 위험지수를 참조 위험율로 인가하였으나, 비위험직은 70%, 위험직은 200% 수준으로 산정되어 현실적 적용이 어려움 (2) 위험취미 보험가입 제한 o 해당취미의 직업종사자에 준(準)하여 직업위험등급을 적용하여 가입 한도를 제한하고 있음. 추가질문서를 활용하여 자격증 유무, 동호회 가입등(等)에 대한 세부정보를 입수하지 않음 - 패러글라이딩의 경우 위험2급을 적용, 사망보장 최대 2 억(億)까지 제한 (3) 거주지역/ 해외여행 보험가입 제한 o 각(各)보험사별로 지역적 특성상 사고재해 다발 지역에 대해 보험가입을 제한하고 있음 - 강원, 충청 일부지역 상해보험 가입불가 - 전북, 태백 일부지역 입원급여금 1일(日)2만원이내 o 해외여행을 포함한 해외체류에 대해서는 일정한 가입 요건을 정하여 운영중(中)이며, 가입한도 설정 보험가입을 제한하거나 재해집중보장 상품에 대해 거절함 - 러시아의 경우 단기체류는 위험1급 및 상해보험 가입 불가, 장기 체류는 거절처리함 2. 신체적위험도(身體的危險度)에 따른 인수차별화(引受差別化) (1) 표준미달체 인수방법 o 체증성, 항상성 위험에 대한 초과위험지수를 보험금삭감법으로 전환 사망보험에 적용(최대 5년(年))하여 5년(年)이후 보험 Risk노출 심각 o 보험료 할증은 일부 회사에서 주(主)보험 중심으로 사용중(中)이며, 총위험지수 300(8단계)까지 인수 - 주(主)보험 할증시 특약은 가입 불가하며, 암 기왕력자는 대부분 거절 o 신체부위 39가지, 질병 5가지에 대해 부담보 적용(입원, 수술 등(等)생존급부에 부담보) (2) 비(非)흡연/ 우량체 보험료 할인 o 1999년(年)최초 도입 이래 $3{\sim}4$개의 위험요소로 1개 Class 운영중(中)임 S생보사의 경우 비(非)흡연우량체, 비(非)흡연표준체의 2개 Class 운영 o 보험료 할인율은 회사, 상품에 따라 상이하며 최대 22%(영업보험료기준)임. 흡연여부는 뇨스틱을 활용 코티닌테스트를 실시함 o 우량체 판매는 신계약의 $2{\sim}15%$수준(회사의 정책에 따라 상이) Ⅳ. 언더라이팅 기법(技法) 선진화(先進化) 방안(方案) 1. 직업위험도별 보험료 차등 적용 o 생 손보 직업위험등급 일원화와 연계하여 3개등급으로 위험지수개편, 비위험직 기준으로 보험요율 차별적용 2. 위험취미에 대한 부담보 적용 o 해당취미를 원인으로 보험사고(사망포함) 발생시 부담보 제도 도입 3. 표준미달체 인수기법 선진화를 통한 인수범위 대폭 확대 o 보험료 할증법 적용 확대를 통한 Risk 헷지로 총위험지수 $300{\rightarrow}500$으로 확대(거절건 최소화) 4. 보험료 할증법 보험금 삭감 병행 적용 o 삭감기간을 적용한 보험료 할증방식 개발, 고객에게 선택권 제공 5. 기한부 보험료할증 부가 o 위암, 갑상선암 등(等)특정암의 성향에 따라 위험도가 높은 가입초기에 평준할증보험료를 적용하여 인수 6. 보험료 할증법 부가특약 확대 적용, 부담보 병행 사용 o 정기특약 등(等)사망관련 특약에 할증법 확대, 생존급부 특약은 부담보 7. 표준체 고객 세분화 확대 o 콜레스테롤, HDL 등(等)위험평가요소 확대를 통한 Class 세분화 Ⅴ. 기대효과(期待效果) 1. 고(高)위험직종사자, 위험취미자, 표준미달체에 대한 보험가입 문호개방 2. 보험계약자간 형평성 제고 및 다양한 고객의 보장니드에 부응 3. 상품판매 확대 및 Risk헷지를 통한 수입보험료 증대 및 사차익 개선 4. 본격적인 가격경쟁에 대비한 보험사 체질 개선 5. 회사 이미지 제고 및 진단 거부감 해소, 포트폴리오 약화 방지 Ⅵ. 결론(結論) o 종래의 소극적이고 일률적인 인수기법에서 탈피하여 피보험자를 다양한 측면에서 위험평가하여 적정 보험료 부가와 합리적 가입조건을 제시하는 적절한 위험평가 수단을 도입하고, o 언더라이팅 인수기법의 선진화와 함께 언더라이팅 인력의 전문화, 정보입수 및 시스템 인프라의 구축 등이 병행함으로써, o 보험사의 사차손익 관리측면에서 뿐만 아니라 보험시장 개방 및 급변하는 보험환경에 대비한 한국 생보언더라이팅 경쟁력 강화 및 언더라이터의 글로벌화에도 크게 기여할 것임.

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Korea's Global Science & Technology(S&T) Agenda -A study on Internationalization of Industrial R&D for Korean SME- (한국의 글로벌 과학기술협력 연구 -한국 중소기업의 R&D 국제화 가속방안과 중소기업코디네이터-)

  • Lee, Sang-Yun;Yoon, Hong-Joo
    • The Journal of the Korea institute of electronic communication sciences
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    • v.7 no.4
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    • pp.693-705
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    • 2012
  • It is increasing the necessity of technology cooperation between nations, in the world, more and more. The international cooperation for the technology development have the dissipating effect of costs and risks and encourage efficient use of the knowledge and eventually help the firms better access overseas market easily. The S&T diplomacy of Korea is, at present, on international S&T cooperation to secure technologies to strengthen base of science, technology and innovation. This tendency is closely related with the governance issue in international S&T cooperation. And This international S&T cooperation is connected with the internationalization of firms. But it is getting more difficult for a firm, especially smaller firm like Korean SME to sustain the technological advantage over any significant period. The small and medium sized enterprises as Korean SME, internationalization of R&D is difficult just to think in terms of one framework with the limited accumulation of informations and experiences. So against that situation, this paper shows a new concept 'SME co-ordinator' as the role client(or player) reinforcing international S&T cooperation, sustaining the technological advantage for Korean SME. And 'SME co-ordinator' leads Korean SME to progress 'open innovation' not 'close innovation' as well as serving adequate information about appropriate partners and capable employer to help manage the international S&T cooperation for Internationalization of Industrial R&D for Korean SME.

Proposal of Promotion Strategy of Mobile Easy Payment Service Using Topic Modeling and PEST-SWOT Analysis (모바일 간편 결제 서비스 활성화 전략 : 토픽 모델링과 PEST - SWOT 분석 방법론을 기반으로)

  • Park, Seongwoo;Kim, Sehyoung;Kang, Juyoung
    • Journal of Intelligence and Information Systems
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    • v.28 no.4
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    • pp.365-385
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    • 2022
  • The easy payment service is a payment and remittance service that uses a simple authentication method. As online transactions have increased due to COVID-19, the use of an easy payment service is increasing. At the same time, electronic financial industries such as Naver Pay, Kakao Pay, and Toss are diversifying the competition structure of the easy payment market; meanwhile overseas fintech companies PayPal and Alibaba have a unique market share in their own countries, while competition is intensifying in the domestic easy payment market, as there is no unique market share. In this study, the participants in the easy payment market were classified as electronic financial companies, mobile phone manufacturers, and financial companies, and a SWOT analysis was conducted on the representative services in each industry. The analysis examined the user reviews of Google Play Store via a topic modeling analysis, and it employed positive topics as strengths and negative topics as weaknesses. In addition, topic modeling was conducted by dividing news articles into political, economic, social, and technology (PEST) articles to derive the opportunities and threats to easy payment services. Through this research, we intend to confirm the service capabilities of easy payment companies and propose a service activation strategy that allows gaining the upper hand in the market.

Benchmarking of US General Contractor's Pre-construction Services for a CM at Risk Project to Improve Contractor's Competitiveness (책임형 CM사 경쟁력 확보 및 선진화를 위한 미국 건설사의 시공이전단계 서비스 벤치마킹 연구)

  • Lee, Chang-Jae;Lee, Sang-Hyo;Ahn, Yong-Han
    • Journal of the Korea institute for structural maintenance and inspection
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    • v.21 no.3
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    • pp.9-18
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    • 2017
  • Construction Management at Risk (CMAR) is a project delivery method that enables CM companies to deliver projects at a Guaranteed Maximum Price (GMP). General contractors can apply CMAR from the initial design phase right through the construction phase to reduce risks and improve project performance. One of the major advantages CMAR offers is that it permits a general contractor to provide a comprehensive suite of preconstruction services, including estimating, a constructability review, value engineering, drawings and a specification review, green building, and Building Information Modeling(BIM), among others. However, general contractors in South Korea currently provide only limited preconstruction services using CMAR because few CMAR projects have yet been implemented in Korea and their experience using the method is therefore limited. This benchmark study of how foreign general contractors utilize CMAR in their projects, particularly during the preconstruction process, its purpose, and the roles and responsibilities of each of the different participants in successful implementations thus provides invaluable information and will serve as a useful guide for Korean contractors seeking to incorporate CMAR preconstruction services in their projects and thus improve the competitiveness of their construction businesses.

A Study on Korean Firms' Outward FDIs to China (중국 내 순차적 직접투자와 경영 전략적 특성에 관한 연구)

  • Yim, Hyung-Rok;Chung, Wonjin
    • International Area Studies Review
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    • v.18 no.3
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    • pp.47-66
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    • 2014
  • A noticeable aspect of Korean firms' outward sequential FDIs to China is that they occur sequentially, which means that they implement the outward FDIs to China with a long-term perspective. To analyze the strategic advantages of sequential investment, we introduce Cournot type quantity competition model. According to the model, three important implications are derived. First, sequential FDIs enhances the Korean parents' production capabilities. Second, the parents are more likely to establish new Chinese subsidiaries as they stay longer in China. Third, the production effect of sequential investments incurs more sequential investments. Some regression models are tested for verifying the predictions. According to empirical results, three important results are found. First, initial entry mode affects the size expansion of the Korean parents. Second, the longer the duration of intial subsidiary in China, the more the sequential investment will be. Third, sequential investments are positively associated with the productivity of the Korean parents.

Modern Enterprise & ESG Management philosophy of Gaeseong Ginseng Merchant (개성 인삼상인의 근대기업화와 ESG 경영이념)

  • Ock, Soon Jong
    • Journal of Ginseng Culture
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    • v.3
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    • pp.90-118
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    • 2021
  • Gaeseong fostered the conditions necessary for modern capitalism, as huge capital was accumulated through the cultivation and trade of ginseng, which were activities that flourished in the 18th century. During the Japanese colonial era, ginseng merchants were not simply limited to acquiring landowner capital from ginseng trade but actively converted such resource to productive and financial capital, thereby becoming modern entrepreneurs. Ginseng merchants led the joint management and investment of Gaeseong Electric Co., Ltd., Daehan Cheonil Bank, Gaeseong Brewing Co., Ltd., and Songgo Textile Company, founded in the early 20th century. They pursued corporate profits and, as leading individuals of society, spearheaded regional development by supporting educational and cultural projects in Gaeseong. These projects included the establishment of the Gaeseong Commercial School, the publication of Goryeo Times, and the operation of the Gaeseong Jwa Theater. Although liberal economics prioritized shareholder interest, the 21st century witnessed an emphasis on social responsibility among stakeholders asthe major purpose of enterprises. A trend that emerged was ESG (environment, social, governance) management, in which non-financial factors are valued more highly than financial performance. A successful business, which was denoted only by high profits in the past, is now defined by whether a company fulfills its social responsibility. In the early 20th century, the corporate activities of ginseng merchants in Gaeseong reflected entrepreneurship and stakeholder-centered ESG management, which later emerged as essential elements of modern business management. The modern management philosophy ahead of its times stemmed from the regionality of Gaeseong. The political discrimination against Gaeseong residents in the Joseon Dynasty precluded them from becoming government officers, and under a strict social hierarchy, yangban ("noblemen"), the intellectuals of the Joseon Dynasty, were forced to serve as merchants. Son Bong-sang and Kong Seong-hak, aside from being representative ginseng merchants, were both Confucian scholars and writers. The second and third generations of ginseng merchant families who had received higher education abroad returned to Gaeseong to carry on with their family businesses, then established modern companies with capital accrued from the ginseng industry. An analysis of the commercial activities of ginseng merchants in the early 20th century confirmed that these individuals were pioneering entrepreneurs who adopted the ESG management philosophy. In ginseng merchants, one sees a dimension of capitalism with a human face, as with ginseng thatsaves human life.