• Journal of Venture Innovation
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• v.5 no.3
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• pp.19-40
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• 2022

The purpose of this study is to analyze and evaluate the role and merits and demerits of insurance agencies, which are the main sales channels of the domestic insurance market, from a neutral standpoint, and to present a roadmap by finding ways and tasks for the sustainable development of the insurance agency industry. Recently, criticisms and regulations on independent distribution channels have been strengthened due to deterioration in growth potential and profitability, and increase in civil complaints of insurance companies. In the 2000s, as the center of insurance sales channels shifted to GA and bancassurance, the supervisory authorities regarded the irrationality of project costs and recruitment fees as the root causes and announced a regulatory improvement plan. In view of these circumstance, the operating status, problems of domestic insurance agencies and their contribution to the insurance industry were reviewed. In addition, we tried to find a mid-to-long term development plan by analyzing the case of insurance agency operation in Japan. This study identified the operating status and contribution of insurance agencies in South Korea, and focused on the major status of the Japanese insurance agency industry, ways to improve management efficiency, and the status and role of self-regulatory organizations for insurance agencies. Based on this, it was proposed to improve the professionalism of the sales organization, introduce a company specializing in insurance sales, and to strengthen the status of the association of the insurance agency as for the development plan of the insurance agency industry in South Korea.

• Journal of Venture Innovation
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• v.7 no.1
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• pp.167-182
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• 2024

The aim of this study is to empirically explore the operational spillover effect among companies within chaebol groups, prominent corporate conglomerates in South Korea. Chaebols are known for their horizontal and vertical integration, fostering close collaboration among their constituent companies from a supply chain standpoint. Existing literature highlights the sharing of tangible and intangible resources within chaebol structures, leading to increased efficiency by minimizing transaction costs through resource sharing. This research investigates whether operational management performance within chaebol structures can be transmitted through cooperative resource utilization. To achieve this objective, we categorize leading companies and affiliate companies within chaebols and examine whether the operational management performance of leading companies significantly influences that of affiliate companies. Data on conglomerates, as defined by the Korea Fair Trade Commission, were collected, along with information on companies within these groups. Subsequently, the company with the highest revenue within each group was identified as the leading company, while the remaining companies were designated as affiliate companies. Our analysis reveals a significant positive relationship between the performance of inventory and facility resource management of leading companies and that of affiliate companies. This study sheds light on the transfer of operational management performance within conglomerates from a managerial perspective, underscoring the importance of reinforcing cooperation systems within the chaebol group. Furthermore, this research contributes to the academic discourse by delineating conglomerates from an operational management perspective and empirically demonstrating the transfer effect of operational management performance.

• The Journal of Korea Institute of Information, Electronics, and Communication Technology
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• v.17 no.3
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• pp.121-129
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• 2024

The rapid advancement of digital technology and the COVID-19 pandemic have significantly accelerated the growth of online commerce, highlighting the need for support mechanisms that enable small business owners to effectively respond to these market changes. In response, this paper presents a foundational technology leveraging the Online to Offline (O2O) strategy to automatically capture products displayed on retail shelves and utilize these images to create virtual stores. The essence of this research lies in precisely identifying and recognizing the location and names of displayed products, for which a single-class-targeted, lightweight model based on YOLOv8, named ESD-YOLOv8, is proposed. The detected products are identified by their names through feature-point-based technology, equipped with the capability to swiftly update the system by simply adding photos of new products. Through experiments, product name recognition demonstrated an accuracy of 74.0%, and position detection achieved a performance with an F2-Score of 92.8% using only 0.3M parameters. These results confirm that the proposed method possesses high performance and optimized efficiency.

• Journal of Korean Tunnelling and Underground Space Association
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• v.26 no.4
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• pp.345-363
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• 2024

Steel pipe reinforced grouting method has been widely used to strengthen the crown of tunnel face and prevent groundwater leakage during tunnel excavation. Various injection procedures without sealing have recently been suggested to enhance efficiency. There are two representative injection methods. One is simultaneous injection in segmented batches, and the other is multiple injection using the external packer. The pros and cons of each method were discussed in terms of construction duration and equipment. However, it has yet to be discussed how the injection procedure affects the grout diffusion range in the ground. This study aims to evaluate the grout diffusion range quantitatively by considering the practical grouting sequences. The grout viscosity was measured by laboratory testing. Then, the numerical modeling was structured using the commercial computational fluid dynamics software. Finally, the grout diffusion range affected by the injection procedure and ground conditions was evaluated by performing the numerical parametric study. The results showed that the injection method highly affected the grout diffusion range, especially for inhomogeneous soil. Consequently, it is anticipated that the proper method of steel pipe reinforced grouting will be suggested.

• The Journal of Bigdata
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• v.9 no.1
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• pp.31-47
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• 2024

With the advancement of artificial intelligence, the travel and hospitality industry is also adopting AI and machine learning technologies for various purposes. In the tourism industry, demand forecasting is recognized as a very important factor, as it directly impacts service efficiency and revenue maximization. Demand forecasting requires the consideration of time-varying data flows, which is why statistical techniques and machine learning models are used. In recent years, variations and integration of existing models have been studied to account for the diversity of demand forecasting data and the complexity of the natural world, which have been reported to improve forecasting performance concerning uncertainty and variability. This study also proposes a new model that integrates various machine-learning approaches to improve the accuracy of hotel sales demand forecasting. Specifically, this study proposes a new time series forecasting model based on XGBoost that selectively utilizes a local model by clustering with DTW K-means and a global model using the entire data to improve forecasting performance. The hotel demand forecasting model that selectively utilizes global and regional models proposed in this study is expected to impact the growth of the hotel and travel industry positively and can be applied to forecasting in other business fields in the future.

• Information Systems Review
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• v.26 no.2
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• pp.45-57
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• 2024

This study develops a deep learning-based methodology for predicting Crude Palm Oil (CPO) prices. Palm oil is an essential resource across various industries due to its yield and economic efficiency, leading to increased industrial interest in its price volatility. While numerous studies have been conducted on palm oil price prediction, most rely on time series forecasting, which has inherent accuracy limitations. To address the main limitation of traditional methods-the absence of stationarity-this research introduces a novel model that uses the ratio of future prices to current prices as the dependent variable. This approach, inspired by return modeling in stock price predictions, demonstrates superior performance over simple price prediction. Additionally, the methodology incorporates the consideration of lag values of independent variables, a critical factor in multivariate time series forecasting, to eliminate unnecessary noise and enhance the stability of the prediction model. This research not only significantly improves the accuracy of palm oil price prediction but also offers an applicable approach for other economic forecasting issues where time series data is crucial, providing substantial value to the industry.

• Journal of Intelligence and Information Systems
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• v.23 no.4
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• pp.169-196
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• 2017

The fourth industrial revolution represents a revolutionary change in the business environment and its ecosystem, which is a fusion of Information Technology (IT) and other industries. In line with these recent changes, the Ministry of Employment and Labor of South Korea announced 'the Fourth Industrial Revolution Leader Training Program,' which includes five key support areas such as (1) smart manufacturing, (2) Internet of Things (IoT), (3) big data including Artificial Intelligence (AI), (4) information security, and (5) bio innovation. Based on this program, we can get a glimpse of the South Korean government's efforts and willingness to emit leading human resource with advanced IT knowledge in various fusion technology-related and newly emerging industries. On the other hand, in order to nurture excellent IT manpower in preparation for the fourth industrial revolution, the role of educational institutions capable of providing high quality IT education services is most of importance. However, these days, most IT educational institutions have had difficulties in providing customized IT education services that meet the needs of consumers (i.e., learners), without breaking away from the traditional framework of providing supplier-oriented education services. From previous studies, it has been found that the provision of customized education services centered on learners leads to high satisfaction of learners, and that higher satisfaction increases not only task performance and the possibility of business application but also learners' recommendation intention. However, since research has not yet been conducted in a comprehensive way that consider both antecedent and consequent factors of the learner's satisfaction, more empirical research on this is highly desirable. With the advent of the fourth industrial revolution, a rising interest in various convergence technologies utilizing information technology (IT) has brought with the growing realization of the important role played by IT-related education services. However, research on the role of IT education service quality in the context of IT education is relatively scarce in spite of the fact that research on general education service quality and satisfaction has been actively conducted in various contexts. In this study, therefore, the five dimensions of IT education service quality (i.e., tangibles, reliability, responsiveness, assurance, and empathy) are derived from the context of IT education, based on the SERVPERF model and related previous studies. In addition, the effects of these detailed IT education service quality factors on learners' educational satisfaction and their work application/recommendation intentions are examined. Furthermore, the moderating roles of learner position (i.e., practitioner group vs. manager group) and participation motivation (i.e., voluntary participation vs. involuntary participation) in relationships between IT education service quality factors and learners' educational satisfaction, work application intention, and recommendation intention are also investigated. In an analysis using the structural equation model (SEM) technique based on a questionnaire given to 203 participants of IT education programs in an 'M' IT educational institution in Seoul, South Korea, tangibles, reliability, and assurance were found to have a significant effect on educational satisfaction. This educational satisfaction was found to have a significant effect on both work application intention and recommendation intention. Moreover, it was discovered that learner position and participation motivation have a partial moderating impact on the relationship between IT education service quality factors and educational satisfaction. This study holds academic implications in that it is one of the first studies to apply the SERVPERF model (rather than the SERVQUAL model, which has been widely adopted by prior studies) is to demonstrate the influence of IT education service quality on learners' educational satisfaction, work application intention, and recommendation intention in an IT education environment. The results of this study are expected to provide practical guidance for IT education service providers who wish to enhance learners' educational satisfaction and service management efficiency.

• Journal of Venture Innovation
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• v.2 no.2
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• pp.95-115
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• 2019

In the context of today's business environment, not only is the nation or company's credit rating considered very important in our recent society, but it is also becoming important in international transactions. Likewise, at this point of time when the importance and reliability of credit evaluation are becoming important at home and abroad, this study analyzes financial ratios related to corporate profitability, safety, activity, financial growth, and profit growth to study the impact of financial indicators on enterprise value and corporate taxes on credit evaluation. To proceed with this, the financial ratio of 465 companies of KOSPI securities listed in 2017 was calculated and the impact of enterprise value and corporate taxes on credit evaluation was analyzed. Especially, this further study tried to derive a reliable and consistent conclusion by analyzing the financial data of KOSPI securities listed companies for eight years from 2011, which is the first year of K-IFRS introduction, to 2018. Research has shown that the significance levels among variables that show the profitability, safety, activity, financial growth, and profit growth of each financial ratio were significant at the 99% level, except for the profit growth. Validation of the research hypothesis found that while the profitability of KOSPI-listed companies significantly affects corporate value and income tax, indicators such as safety ratio and growth ratio do not significantly affect corporate value and income tax. Activity ratio resulted in significant effects on the value of enterprise value but not significant impacts on income taxes. In addition, it was found that the enterprise value has a significant effect on the company's credit and corporate income taxes, and that corporate income taxes also have a significant effect on the corporate credit evaluation, and this also shows that there is a mediating function of corporate tax. And as a result of further study, when looking at the financial ratio for eight years from 2011 to 2018, it was found that two variables, KARA and LTAX, are significant at a 1% significant level to KISC, whereas LEVE variables is not significant to KISC. The limitation of this study is that credit rating score and financial score cannot be said to be reliable indicators that investors in the capital market can normally obtain, compared to ranking criteria for corporate bonds or corporate bills directly related to capital procurement costs of enterprise. Above all, it is necessary to develop credit rating score and financial score reflecting financial indicators such as business cash flow or net assets market value and non-financial indicators such as industry growth potential or production efficiency.

• The Korean Journal of Air & Space Law and Policy
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• v.35 no.2
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• pp.41-74
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• 2020

The monetary penalties system inherently has efficiency as DNA. In the event that administrative measures to recover unfair profits from businesses that violate the law, deprive business licenses, or order to suspend business, infringe the interests of ordinary consumers, a system that can achieve the same effect through financial sanctions. It is a monetary penalties. In addition, it is convenient for the government because it takes effect only by the administrative agency's unilateral imposition order compared to the trial process, which takes a long time and huge cost to prove the illegality. However, it is questionable whether procedural legitimacy is well established in Korea's aviation monetary penalties. Compared to foreign legislation, Korea's aviation monetary penalties system need to be improved. This paper was for the purpose of studying the improvement direction of the monetary penalties system disposed of in the Korean aviation field. This study suggests the direction by examining the US system, which is an aviation advanced country, in the aviation safety area. The research was conducted with the intention of exploring the direction as follows: First, the characteristics of the Federal Aviation Administration (FAA) aviation administrative sanctions and the US aviation penalty system will be outlined. Furthermore, with the recent paradigm shift in aviation safety management, this paper tried to look at new trends that focus on autonomous reporting of aviation safety as a proactive and preventive measure in conventional post-airline accident management administration, focusing on various systems including ASAP. This article also reviewed the formal process for imposing monetary penalties adopted by the FAA. Based on the above review, this paper also looked at ways to improve the reporting system for aviation safety in Korea.

• Journal of Distribution Science
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• v.9 no.2
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• pp.83-95
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• 2011

Conventional markets in Korea have played a pivotal role in the vitalization of local communities and economies along with the distribution of products. Although many people believe the markets to be disorderly, they are lively and provide local people with things to enjoy, watch and buy. However, superstores have undergone a mushrooming proliferation since Korea opened its gates to multinational superstores in 1996. This phenomenon has caused a crisis for Korea's conventional markets. They have lost their competitiveness because of this environmental change, inefficient management, and their outmoded facilities. Government efforts to revitalize the markets have centered on redevelopment of the facilities, a perspective that has caused not only the fall of the old business districts but also the decline of the distribution function. Under these conditions, the traditional market has re-entered into competition. The Korean government enacted a special law to revitalize the conventional markets and has been implementing many policies to support them since 2003. In 2009, the government amended the law and adopted the Business Improvement District System. The government also changed the official term from 'old markets' to 'Conventional markets'. Despite this legal amendment, though, we still need to re-establish the concept of the Conventional market. Historically, markets grew up spontaneously to dispose of surplus products. Some manmade markets were established through urban planning or as public facilities. Their businesses transactions have always been based on mutual trust between consumers and trades people, the traditional way of commercial dealing. Conventional markets can be defined, then, as creatures of societal necessity where transactions for services and products are based on mutual trust. Problematically, unlisted markets are left out of government support. Although unlisted markets have performed almost the same functions as listed markets, they exist only as a statistic as far as the special law is concerned. In some areas, there are more unlisted markets than unlisted ones. Therefore, it is necessary to establish systematic management methods for the unlisted markets. Some unlisted markets received support in the form of facility improvement from local governments' budgets in the early stage of the special law's enforcement. The current government also assists with safety issues involving unlisted markets; however, the current special law provides no legal framework for unlisted markets. Moreover, consumers cannot tell the difference between unlisted markets and listed ones. Finding a solution to this problemrequires new standards and a wider scope of support by which the efficiency of the market improvement support system might be enhanced.