• Journal of Distribution Science
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• v.12 no.6
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• pp.81-88
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• 2014

Purpose - Entrepreneurship promotion is emerging as an important economic growth agenda. However, in Korea, entrepreneurship has weakened because of the collapse of the venture bubbles of the 2000s and the global economic recession in 2008, which have induced the business community to choose stability over risk. The Korean government has been implementing several support projects to inspire and promote youth entrepreneurship through various means including financial assistance; however, the perpetuation rate of young entrepreneurship is still low as compared to advanced economies such as the US and EU. This case study focuses on the Youth Start-Up Business Support Program of the Small & Medium Business Corporation, and explores practical alternatives. Further, it aims to suggest managerial factors and a conceptual model for change management factors affecting the business performance creation of a startup company, based on the Small and medium Business Corporation's young venture startup fund. Research design, data, and methodology - Many studies examine the current progress and issues of startup firms, for example, a lack of systematic cultivation of entrepreneurship and startup business training, lack of commercialization funding for youth startup businesses, lack of mentoring, and inadequate infrastructure. From prior research, we address four factors, namely, personal managerial capabilities, innovative business model, sufficient cash flow, and social network, affecting startup companies' business performance. This study involved a sample survey of 200 young entrepreneurs to investigate casual relations between the four factors and business performance. A regression analysis was used to verify the hypotheses. Results - First, in relation to differences in the founder's personal characteristics, age, sales amount, and number of employees significantly impact business performance. Second, regarding the causal relation between the four factors for creating business performance, an innovative business model and social networking have supported the hypotheses, revealing that the more that a start-up founder has an innovative business model and social networking, the more the start-up firms are likely to have better performance (e.g., sales volume, employment, ROE, ROI, etc.). Although the founder's competency and sufficient cash flow have no significant relationship with business performance, the mean value was higher performance for high founder's competency and sufficient cash flow. Conclusions - This study provides basic data on policy support strategies of the Small and Medium Business Corporation, to help young entrepreneurs achieve their start-up business goals. It shows that young entrepreneurship startup firms should strive to explore ideas to satisfy customers' needs, and that changes in customer value and the continuous innovation of business model differentiation are required to actively respond to change management. Moreover, at the infant startup stage, they should activate social network programs to share information, thereby offsetting resource scarcity and managing business risk. Further, the establishment of a long-term vision and the implementation of training programs in related specific fields should be supported to strengthen founders' personal capabilities.

• Culinary science and hospitality research
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• v.21 no.5
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• pp.38-49
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• 2015

The purpose of this study was to investigate tangible clues influence on perceived risk and overall satisfaction of customers at family restaurant in South Korea. In this research overall CFA and SEM were employed to analyze the data. Tangible clues were divided to 3 factors and perceived risk to 6 factors. Tangible clue 1 'physical evidence', had negative(-) influence on financial risk(p<0.01), performance risk(p<0.01) and psychological risk(p<0.001). Tangible clue 2 'employee' affected negatively(-) time risk(p<0.001), performance risk(p<0.001), psychological risk(p<0.01) and social risk(p<0.001). And tangible clue 3 'service process' influenced negatively(-) physical risk(p<0.01), time risk(p<0.05), financial risk (p<0.001) and performance risk(p<0.01). And among customer's perceived risks, 3 factors(time risk~p<0.001, performance risk~p<0.001, social risk~p<0.001) influenced negatively(-) their overall satisfaction. Through these results, it appears that customers perceive various tangible clues and risks at family restaurants. And they are likely to satisfy or dissatisfy according to their perceived risks. As a result, food service companies need to research various customers' perceived risks as important marketing strategy, and reduce them for increase and induction of customers' satisfaction.

• International Journal of Quality Innovation
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• v.8 no.1
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• pp.40-75
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• 2007

In the early industrial age which with high intensity of machine and labor, using financial measurement index was good enough to tie in company's mechanization and philosophy of management and been in efficiency. But being comply with "New Economic age," a new economic environment is full of knowledge and information, the enterprise competition had changed from tangible assets, plants to intangible innovation ability of knowledge. As recognizing the new tendency by enterprise, they value gradually the growth and influence from learning. Practice of organization learning not only needs firm structure and be in coordination with both hardware and software, but also needs an affect measurement model to offer enterprise to estimate learning performance. It's a good instrument of financial performance measure mold in the past years, But it's for measuring the past, couldn't formulate enterprise trend to future, hard to estimate investment for future, such as development of products, organization learning, knowledge management etc, as which intangible assets and knowledge ability just the key factors of being win around competition environment in the future. In 1992, Kaplan and Norton brought up Balance Scorecard (BSC) on Harvard Business Review, as an instrument helping enterprise to measure performance, which is being considered to be a most influence management instrument. It added non-financial index such as customer, internal process and learning growth besides traditional financial index, as offering enterprise an index to measure and manage intangible assets and intellectual property. As being aware of organization learning is hard to be ignored in the new economic age, this research is based on learning and growth of BSC, and citing one national material company try to let the most difficult measurement performance of organization learning, to be estimate through BSC, analyze of factor and individual case, to discuss the company how to make the related strategy and vision of organization learning to develop learning and growth of the structure of BSC, subject the matter of out put factors to be discussed, and measure the outcomes as a result of research. The research affect offers (1) the base implement procedure of carrying out BSC; (2) the reference of formulating measurement index while enterprise using BSC to estimate performance of organization learning; (3) the possibility bottleneck maybe forcing while carrying out BSC, to be an improvement or preventive for enterprise.

• Journal of Distribution Science
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• v.14 no.4
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• pp.47-53
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• 2016

Purpose - The objective of this study is to investigate the dynamic relationships among Advertising Cost (AD), Newly Registered Users(NRU), and Buying Users(BU) of Social Network Game(SNG). SNG is getting pervasive mainly due to the rapid growth of mobile game and Social Network Service(SNS). It would be helpful for marketing researchers interested in SNG and related practitioners to understand the changes in AD, NRU, and BU with time as well as the effects on one another in mutual and dynamic way. Research Design, Data, and Methodology - Necessary data were collected from Social Network Game(SNG) company. AD, NRU, and BU are endogenous variables, but new event such as launching (event) and holidays(holiday) are exogenous dummy variables. Vector Auto regression (VAR) model is generally used to examine and capture the dynamic relationships among endogenous variables. VAR model can easily capture dynamic and endogenous relationships among time-series variables. Vector Auto regression with Exogenous variables(VARX) is a model in which exogenous variables are added to VAR. To investigate this study, VARX is applied. Result - By estimating the VARX model, the author finds that the past periods' NRU affect negatively and significantly the present AD, and past periods' BU have a positive and significant impact on the increase of AD. In addition, the author shows that the past periods' AD and BU have a positive and significant effect on the increase of NRU, and the past periods' AD affect positively and significantly BU. While the impact of AD on NRU happens after 3 or 4 days (carryover effect), that of AD on BU comes about within just 1 or 2 days (immediate effect). The effect of BU on NRU can be considered as word of mouth (WOM effect). Therefore, SNG companies can obtain not only the growth of revenue but also the increase of NRU by increasing BU. Through those results, the author can also find that there are significant interactions between endogenous variables. Conclusion - This study intends to investigate endogenous and dynamic relationships between AD, NRU, and BU. They also give managerial implications to practitioners for SNS and SNG firms. Through this study, it is found that there exist significant interactions and dynamic relationships between those three endogenous variables. The results of this study can have meaningful implications for practitioners and researchers of SNG. This research is unique in that it deals with "actual" field data and intend to find "actual" relationships among variables unlike other related existing studies which intend to investigate psychological factors affecting the intention of game usage and the intention of purchasing game items. This study is also meaningful by showing that the increase of BU can be a good strategy for "killing birds with one stone" (i.e., revenue growth and NRU increase). Although there are some limitations related with future research topics, this research contributes to the current research on SNG marketing in the above mentioned ways.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.10
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• pp.18-25
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• 2019

Recently, micro-grids based on a CVCF inverter have been replacing diesel generators to reduce CO2 emissions in island areas with the increase of renewable energy sources. Stable operation methods are also being researched. These micro-grids may cause energy sinking if the total output of renewable energy sources is larger than the total customer loads. In the case of energy sinking, the voltage of a CVCF battery could rapidly increase according to the condition of SOC, and blackout could occur in the micro-grid due to the operation of a protection device in a CVCF inverter. Therefore, this paper analyzes the operation characteristics of a CVCF-inverter-based micro-grid when energy sinking occurs and proposes a transient operation strategy to prevent shut-down of the CVCF inverter. A test device of a 30-kW CVCF-inverter-based micro-grid was implemented, and the transient operation characteristics for the energy sinking phenomenon are presented. The simulation results confirm that blackout can be properly prevented according to the conditions of SOC and voltage in a CVCF battery.

• Journal of Environmental Impact Assessment
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• v.29 no.6
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• pp.403-413
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• 2020

A mathematical model comprised with eight simultaneous quasi-linear partial differential equations was suggested to provide optimal chlorination strategy. Upstream weighted finite element method was employed to construct multidimensional numerical code. The code was verified against measured concentrations in three type of reactors. Boundary conditions and reaction rate were calibrated for the sixteen cases of experimental results to regenerate the measured values. Eight reaction rate coefficients were estimated from the modeling result. The reaction rate coefficients were expressed in terms of pH and temperature. Automatic optimal algorithm was invented to estimate the reaction rate coefficients by minimizing the sum of squares of the numerical errors and combined with the model. In order to minimize the concentration of chlorine and pollutants at the final usage sites, a real-time predictive control system is imperative which can predict the water quality variables from the chlorine disinfection process at the water purification plant to the customer by means of a model and operate the disinfection process according to the influent water quality. This model can be used to build such a system in water treatment plants.

• Journal of Korea Port Economic Association
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• v.37 no.2
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• pp.107-118
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• 2021

This study investigates the strategies that are important for selecting shuttle carriers and logistics warehouses. In container transportation, competitive pricing has become an order qualifier due to the establishment of the standard freight rate system. As a result of this study, it can be seen that both logistics warehouses and shuttle carriers place greater importance on the partnerships with companies and employee education. Besides those two factors, the punctuality of delivery is found to be important for the quality of transportation. Therefore, companies must continue to increase their competitiveness. As customer service of the shuttle carrier, resolving the loss or damage and claim handling part is evaluated more importantly in the logistics warehouse than the ablity to resolve unexpected event. The future strategy should focus on resolving the loss/damage and claim handling factors so that companies can be competitve in the future. Based on research results, logistics warehouses and shuttle carriers can establish different marketing strategies to maintain a firm position on the market by securing competitive advantage within port hinterland.

• The Journal of the Korea Contents Association
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• v.22 no.9
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• pp.1-18
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• 2022

This study critically analyzed the user experience (UX) of mobile applications, focusing on the advertising platforms of mobile applications for culture and arts content. This study aims to examine the direction for growth of the related mobile applications and propose alternative approaches to improve usability. In this study, a mobile app named 'Moviepre' was selected, and a heuristic evaluation was performed for in-depth exploration. For the selected case, the UX Honeycomb model was reconstructed to analyze useful, usable, desirable, findable, accessible, and credible elements of the case. First, since the users' preference for the price factor did not show a significant correlation with the usefulness of the content and the interface, it is necessary to make sure that the mobile application has unique values to gain a competitive advantage in the market. Second, by adopting customer path stages for analysis, the result indicated that users continuously interact with the service from the first moment they are aware of the mobile application. Third, if the user feels uncomfortable, it is likely that these factors hinder the establishment of a long-term relationship between the users and the mobile application. Finally, brand identity should be clearly established, and brand image strategy needs to be developed to satisfy users' expectations that high-quality culture and arts content will be available through the mobile application.

• Korean Association of Arts Management
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• no.51
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• pp.75-102
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• 2019

This study aims to figure out the progression of Hyundai motor's corporate cultural marketing by conducting semantic network analysis. Although the previous research has focused on conception, categorization, impact, and performance of cultural marketing, they hardly pay attention to changes in cultural marketing over time. To explore the identified gap, we collected 2,315 articles concerning Hyundai motor's cultural marketing on daily newspapers printed from 2001 to 2018. The 18-year time period was classified into four periods, and lists of words were extracted and analyzed by Korean language analysis program, Textom and social network analysis program, called 'UCINET'. The outcome of our analysis indicates that Hyundai Motor's cultural marketing has been developed from the strategy of merely increasing sales to the means of distinguishing their corporate and brand identity. In the early 2000s, the words 'customer', 'The Age of Great Paintings: Rembrandt and the 17th century Dutch paintings', and 'performances' were extracted with high frequency. It shows Hyundai Motor held performance-oriented events and provided benefits to specific consumer groups under the type of 'Cultural Promotion'. In addition, as the exhibition sponsored by Hyundai motor was reported in the media with high publicity effect, the concept of 'Cultural Support' is also emerged. In the late 2000s, the top exposures were 'Seoul Arts Center' and 'Seoul Metropolitan Symphony Orchestra'. Under the concept of 'Cultural Support', both organizations and cultural events were sponsored by Hyundai motor. Hyundai Motor has the tendency to cooperate with high profile parties who have already accomplished high publicities to attract social interests and issues. In the early 2010s, Hyundai Motor created cultural marketing brand and space ('Brilliant' and 'Hyundai Art Hall') that broadened the potential target groups, which represented both 'Cultural Support' and 'Cultural Enterprise'. In the middle and late of the 2010s, as shown by the high frequency of 'brand' and 'global', Hyundai Motor has focused on the global market and viewpoint has expanded to brand building focusing on the type of 'Cultural Enterprise'.

• Asia Marketing Journal
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• v.10 no.3
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• pp.59-79
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• 2008

This study explores ways in which Korean companies manage a brand to become a long-run success. In particular, this study focuses on Chamisul, analyzing its marketing strategy, examining its brand life-cycle in terms of introduction, growth, and renewal. Chamisul, first introduced in 1998, has occupied the Korean liquor market as a leading brand for almost a decade. Chamisul's long-run success, in fact, depends upon a number of reasons; first, it has consistently and continuously keeps its own core brand concept and identity. Second, it has built its brand asset by strengthening its emotional ties with customers. The emotional connection that Chamisul has built is based upon the trust between the company who produces the product and the customers who recognize the benefit of drinking Chamisul. Third, the company creates various brand differentiation programs, thereby allowing its customer to get familier with the brand. Finally, the company sets up a clear management standard in Korean liquar market in order to maintain the vitality of the brand, managing Chamisul in accordance with the standard. Seen in this light, Chamisul's success reflects the marketing activities and strategies that play a fundamental role in creating and maintaining a long-run brand. Similarly, its success can be seen to be a model for brand management, telling us how to become a market leader through an effective brand management.