• Korean journal of communication and information
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• v.51
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• pp.65-86
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• 2010

This paper reviews the problems and opportunities of Japanese newspaper industry. In the focus are particularly issues related to causes of the crisis and reacting strategies overcoming the crisis. To answer the questions, we conducted in-depth interviews with top-level managers of major newspaper companies in Japan. Secondary data were gathered to complement the interview. Top managers mainly perceived the causes of the crisis as young readers' alienation from newspaper due to the change of media environment and structural factors such as increasing production/distribution costs and diminishing appeals for advertisers. They are implementing several strategies to overcome this crisis - developing newspaper content for young readers; packaging customized on-off line advertisement; extending news distribution via online and mobile platforms; diversifying business into diverse sectors such as real-estate; enhancing brand equity of newspaper; and collaborating with rival newspaper companies in operating news site and joint printing/distribution. Lessons from the case of Japanese newspaper industry may be useful starting points for the Korean newspaper companies agonizing for diminishing circulation and advertising revenues.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.8 no.4
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• pp.900-914
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• 2007

The purpose of this study is to analyze the actual conditions of Busan venture-ecosystem in mind that venture-policy is to be propelled actively for revitalization of local economy and improving the rate of joblessness in Busan. The Analytic framework is the concept of venture-ecosystem which is focused on interaction between the venture business and the environment. Because it has provided the conceptual frame of the venture-policy to make venture-friendly environment. Period of analyzing Busan venture-ecosystem is from 2004 to 2006 because venture-policy was changed greatly by participation government sailing. According to study finding, Busan venture-ecosystem is very weak in both quantitative and qualitative side. And it is estimated that the situation of Busan venture-ecosystem is high to be worsed by participation government's policy change. Also, venture policy and measures of Busan area shows that diversification of support target is urgent because of being overemphasized in IT industry.

• International Area Studies Review
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• v.15 no.2
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• pp.3-23
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• 2011

Existing studies have argued that, compared to the 1990s, the Japanese foreign direct investment (FDI) in the 2000s became multi-faceted in terms of investment motivation, ownership structure and entry mode, and diversification strategy. We have conducted a cross-sectional analysis and compared our results with the recent findings. We have found that the Japanese FDI in the mid 2000s became globally focused and regionally diversified. Ownership strategy and entry mode of the Japanese FDI in the Asian countries shows a remarkable shift from joint venture to wholly-owned subsidiary. In contrast, the preference of greenfield investments was observed consistently across regions. It seems that, after the Asian financial crisis, the Japanese firms began to re-optimize global FDI strategy and to regionally differentiate investments.

• Fourth Industrial Review
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• v.1 no.1
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• pp.1-10
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• 2021

Purpose - This case study analyzes the internationalization strategy and innovation strategy as key factors contributing to the business success of CAP, a small and medium-sized manufacturing company in Korea producing auto parts such as wipers. This study describes the diversification strategies conducted by CAP Corporation and highlights the company's core competencies that have largely contributed to their global competitive success. Research design, data, and methodology - This paper provides in-depth case study on how CAP was able to grow into a hidden champion company, focusing on their strategies since its establishment. In particular, by analyzing the success factors centering on CAP's aggressive innovation strategy and internationalization strategy, it presents guidelines for small and medium-sized enterprises in Asian countries to become a Hidden Champion company. Result - CAP's product technology has successfully established innovative system on their product called 'vertebra spring' to distribute uniform pressure to the rubber to ensure performance as well as durability of their products. In order to continue benefiting from utilizing core competence and to continue pursuing technological advancement in the wiper industry, CAP has launched a wide range of products (flat blade, conventional blade, hybrid blade) applicable to 95% of the vehicle in the market. Conclusion - Taken together, CAP has many aspects of a hidden champion company by investing in R&D up to 8% of its annual sales to R&D investment even during the crises situation. This number is about 3.36 times higher than the average ratio of listed companies in Korea. Furthermore, the leadership of the management team as well as their vision toward the global market and strong commitment to innovation enabled CAP to become the world's fifth-largest wiper and Asia's No. 1 wiper manufacturer.

• Journal of Korea Trade
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• v.24 no.3
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• pp.37-54
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• 2020

Purpose - This study is to investigate the determinants of suppliers' dependence on buyers in the home country by developing a theoretical model of innovative activities. The high dependence of auto parts suppliers on a single local buyer in South Korea due to firm ownership issues and incremental innovation is examined using data from a set of organizations that supply intermediate goods to this automotive manufacturer. Furthermore, we tested the moderating effect of FDI and global knowledge sourcing on the relationship between firm ownership and suppliers' dependence on the local buyer. Design/methodology - To test the hypotheses, we examined a sample of 101 suppliers over 10 years in the Korean automobile parts industry. In this empirical analysis, we utilized a fixed-effects generalized least squares model using panel data. Findings - In this study, domestic firms (automobile parts suppliers) were more dependent on a single local buyer (automobile assembler) than foreign-owned suppliers operating in Korea. In addition, incremental innovation was the mediating mechanism between domestic firms and dependence on the local buyer. To reduce this dependence on the buyer, we suggest two different international strategies: geographical diversification through FDI and global knowledge sourcing. Originality/value - Previous studies showed that asymmetric dependence between firms has many adverse effects. This study proved that domestic and foreign-owned suppliers have different levels of dependence on local buyers due to their heterogeneous characteristics and business strategies. We distinguish two different types of innovation - radical innovation and incremental innovation - that previous studies have often treated as equal when it comes to firm autonomy. Finally, we propose that both FDI and international knowledge sourcing as global strategies to weaken suppliers' asymmetric dependence on a single buyer.

• Asia-Pacific Journal of Business
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• v.15 no.2
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• pp.143-157
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• 2024

Purpose - This paper aims to analyze the relationship and correlation between the stock markets of Korea, the US, China, and Japan before and after the outbreak of COVID-19. Design/methodology/approach - This study conducted an empirical analysis using the stock market data from January 2016 to June 2023 for the representative market indices of Korea, the US, China, and Japan. The analysis employed the VAR model, Granger causality test, impulse response function, and variance decomposition. Findings - Analyzing the relationships of these stock markets before and after the outbreak of COVID-19, we obtained the following results. (i) The influence of the U.S. stock market was found to be absolute regardless of the COVID-19 period, and the rise in the U.S. stock market led to rises in other stock markets. (ii) The Chinese stock market had a significant negative impact on the U.S., Korean, and Japanese stock markets before COVID-19, but this influence disappeared after COVID-19. This suggests that the Chinese market exhibited unique characteristics different from the global market after COVID-19. (iii) Analyzing the period excluding the first quarter of 2020, when global stock market volatility was extremely high due to the spread of COVID-19, we found that the results were very similar to the analysis including the first quarter of 2020. Therefore, it is difficult to argue that the increased uncertainty during this period distorted the relationships among the stock markets of these four countries. Research implications or Originality - We anticipate that these findings will offer valuable insights for both individual and institutional investors, aiding them in portfolio diversification and risk mitigation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.6
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• pp.103-117
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• 2019

Under the uncertainties and the consequent turmoils of the IMF financial crisis in Korea, Hyunsung Techno was founded in 1997 on the basis of automobile press molding which is critical for the quality of automobile. Ever since, Hyunsung Techno has grown rapidly based on the domestic market; however, gradually, it had faced a stalemate in terms of the saturation, on the supply side and the growth limit, on the demand side, of the domestic molding market. Accordingly, Hyunsung pushed for a strategy to localize overseas markets and a new acquisition strategy instead of resting on the domestic mold industry's growth, and the success of these strategies enabled it to leap forward into a global company with five companies including affiliates and 70 billion won in sales. The main reason why Hyunsung Techno evolved from a small and medium-sized manufacturing company into a global businesses is due to the success of Boa Constrictor M&A strategy. Its acquisition strategy is not just a successful case of any acquisition, but a rare, maybe the first domestic case of a successful acquisition of a primary supplier by a secondary supplier. Through the success of this strategy, Hyunsung Techno has achieved a continuous growth of businesses, an increase in sales volume, and expansion into new businesses. And on top of that, this achievements is leading it to be a global conglomerate In this study, Hyunsung Techno's success strategy, which is transformed from a small domestic manufacturing company into a global enterprise, was analyzed in detail with its development stages divided into start-up, overseas expansion, acquisitions, and business diversification. Eventually, this case study is meant to offer strategic implications for other small and medium-sized businesses under the current, gloomy economy of low or zero growth of today.

• Korean Journal of Construction Engineering and Management
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• v.15 no.5
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• pp.22-30
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• 2014

This study undertakes a comparative analysis of the correlation between the condition of the domestic construction market and the expansion of overseas projects within construction companies, based on the vector error correction model. The analysis results verified that, in the post-IMF crisis period, domestic construction companies took on more overseas projects only when the residential construction market slowed down. Compared to the pre-crisis period, construction companies grew more responsive to the condition of the domestic market for residential construction, and they took on more overseas construction projects when the domestic market slumped. This is because the business portfolios of Korean construction companies' render them highly vulnerable to the condition of the residential construction market. When the domestic residential market slows down, the business condition of construction companies quickly takes a turn for the worse, and to cope with this, they turn to overseas projects to compensate for the slowing of the domestic market. As the analysis shows, expanding overseas construction projects as a way to turn around business condition amid a slow residential construction market actually undermines the management of the companies even further. In other words, shifting business focus toward an overseas market during a hard time might be useful for securing cash flow, but might not help to restore profitability. Thus, construction companies need to carefully manage their level of business diversification to ensure strategic flexibility.

• Management & Information Systems Review
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• v.36 no.4
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• pp.53-80
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• 2017

The purpose of this study is to examine the determinants of the number of bank relationships in Korea. Firm-specific determinants considered here include leverage, size, age, return on asset, investment grade, tangibility, liquidity, R&D expenditure. We estimate the effects of these variables, and compare the results with those from previous studies performed for other economies. Concerning the effects of business cycle, we find that the business cycle is an important factor in determining the number of bank relationships. The number of bank relationships varies over the business cycle, and we notice a counter-cyclical behavior, which means the number decreases during economic expansions and increases during contractions. This result can be interpreted as a result of firms' diversification of borrowings into multiple banks in order to reduce the liquidity risk during the recession. In the subsets, however, the number of bank relationships for large firms is stable regardless of the business cycle. Unlisted firms, non-chaebol, and low credit quality firms which have relatively limited access to alternative sources of financing show counter-cyclical behavior. Finally, such phenomena is not observed in the non-competitive credit market, while they show a counter-cyclical behavior in the competitive credit market.

• Information Systems Review
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• v.21 no.1
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• pp.135-152
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• 2019

Recently there are many development and support policies for start-up companies because of successful venture companies related to ICT services. However, as these policies have focused on the support for the initial stage of start-up, many start-up companies have difficulties to continuously grow up. The main reason for these difficulties is that they recognize start-up tasks as independent activities. However, many experts or related articles say that start-up tasks are composed of related processes from the initial stage to the stable stage of start-up firms. In this study, we models the start-up processes based on the survey collected by the start-up companies, and analyze the start-up process of ICT service companies with process mining techniques. Through process mining analysis, we can draw a sequential flow of tasks for start-ups and the characteristics of them. The analysis of start-up businessman, idea derivation, creating business model, business diversification processes are resulted as important processes, but marketing activity and managing investment funds are not. This result means that marketing activity and managing investment funds are activities that need ongoing attention. Moreover, we can find temporal and complementary tasks which could not be captured by independent individual-level activity analysis. Our process analysis results are expected to be used in simulation-based web-intelligent system to support start-up business, and more cumulated start-up business cases will be helpful to give more detailed individual-level personalization service. And our proposed process model and analyzing results can be used to solve many difficulties for start-up companies.