• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.1
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• pp.101-116
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• 2019

Technology-based start-up is important in that it encourages innovation, facilitates the development of new products and services, and contributes to job creation. Technology-based start-up activates entrepreneurship when appropriate support is provided within the ecosystem. Thus, understanding the technology-based start-up ecosystem is crucial. The purpose of this study is as follows. First, in Herrmann et al.'s(2015) study, we compare and analyze the ecosystem of each country by selecting representative regions such as Silicon Valley, Tel Aviv, London and Singapore which have the highest ranking in the start-up ecosystem. Second, we try to deeply understand the start-up ecosystem based on in-depth interviews with various stakeholders such as VC investors, start-ups, support organizations, and professors related to the Korean start-up ecosystem. Finally, based on the results of the study, we suggest development and activation of Korean technology-based start-up ecosystem. As a result, the Seoul start-up ecosystem showed a positive evaluation of government support compared to other advanced countries. In addition, it was confirmed that the ratio of tele-work and start-up company working experience of employees was higher than other countries. On the other hand, in Seoul, It was confirmed that overseas market performance, human resource diversity, attracting investment, hiring technological engineers, and the ratio of female entrepreneurs were lower than those of overseas advanced countries. In addition, according to the results of the interview analysis, Seoul was able to find that start-up ecosystems such as individual angel investors, accelerators, support institution, and media are developing thanks to the government's market-oriented policy support. However, in order for this development to continue, it is necessary to improve the continuous investment system, expansion of diversity, investment return system, and accessibility to the global market. A discussion on this issue is presented.

• Land and Housing Review
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• v.13 no.4
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• pp.55-71
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• 2022

Recently, the domestic department store industry is growing into a complex shopping cultural space, which is advanced and differentiated by changes in consumption patterns. In addition, competition is intensifying across 70 places operated by five large companies. This study investigates the determinants of the visits to department stores using the big data concept's automatic vehicle access system (pos) and proposes how to strengthen the competitiveness of the department store industry. We use a negative binomial regression test to predict the frequency of visits to 67 branches, except for three branches whose annual sales were incomplete due to the new opening in 2021. The results show that the demand for visiting department stores is positively associated with airport, terminal, and train stations, land areas, parking lots, VIP lounge numbers, luxury store ratio, F&B store numbers, non-commercial areas, and hotels. We suggest four strategies to enhance the competitiveness of domestic department stores. First, department store consumers have a high preference for luxury brands. Therefore, department stores need to form their own overseas buyer teams to discover and attract new luxury brands and attract customers who have a high demand for luxury brands. In addition, to attract consumers with high purchasing power and loyalty, it is necessary to provide more differentiated products and services for VIP customers than before. Second, it is desirable to focus on transportation hub areas such as train stations, airports, and terminals in Gyeonggi and Incheon. Third, department stores should attract tenants who can satisfy customers, given that key tenants are an important component of advanced shopping centers for department stores. Finally, the department store, a top-end shopping center, should be developed as a space with differentiated shopping, culture, dining out, and leisure services, such as "The Hyundai", which opened in 2021, to ensure future growth potential.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.1
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• pp.55-69
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• 2021

For the national economic development, the participation of women in the social and economic activities is crucial. The popularization of start-ups, digital transformation, and WEconomy trends have lowered the barriers to opportunities for women to start a business and provide an environment in which women can grow faster. This paper examines the significance and process of success of women entrepreneurs and the characteristics of innovation strategies and achievements by linking the recently changing business environment of a company, factors influencing the success of women entrepreneurship, and innovation activities. To this end, four companies' cases were analyzed in the fields of distribution/service and consumer products/services, which are areas of large investment among female startups. The result shows that women entrepreneurs recognize the meaning of success as creating and continuing to create a 'corporate value through establishing a trust relationship with customers' within the 'balance between personal life and work.' In terms of the business ecosystem, women entrepreneurs strive for 'business activities based on the win-win growth of consumers, producers and sellers' for success, and rather 'focus on the process with a problem-solving approach' rather than achieving performance-oriented goals. Also through excellent power of observation, flexibility, and execution power, women entrepreneurs conduct business by adapting to changing trends. In terms of innovation activities, the innovation strategy of women-led companies puts priority on 'creating the value customers want' and focuses on innovation in the 'customer-centric business model' rather than technological innovation. As such, women-led companies show several differentiated characteristics, which enable them to create corporate value and achieve sustainable growth. The barriers to challenges and opportunities for women to start a business have been lowered, and an ecosystem has been created for female startups to grow. But why are there still so few women entrepreneurs, and the answer to where we need to close these gaps is ultimately a close analysis and investigation of the field. We must present milestones for growth steps through the accumulation of case studies of women startups that have exited. In addition, women can stand as economic agents only when the policy targets are subdivided and specific approaches to child-rearing and childcare for women entrepreneurs must be taken. This paper expects to serve as basic data for follow-up studies and become the basis of research for women entrepreneurs to grow as economic agents.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.40 no.1
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• pp.65-73
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• 2022

This paper analyzed the characteristics of ancient villages in Hongcun and the method of resetting the preservation area for the preservation of the changed historical and cultural space in Hongcun through the process of change. To this end, the current status of preservation areas and utilization areas in the village was identified through ancient documents, old paintings, policy materials, and interviews related to the village, and through this, the problem of resetting the preservation area was examined. As a result, the following conclusions were drawn. First, Hongcun is a village built under the influence of Confucianism, Buddhism, and Taoism, and the spatial organization was created according to the hierarchy of Confucianism. As a result, it was possible to inherit and preserve the heritage of ancestors even though the central government did not preserve it. Second, the concept of preservation in a limited sense has been applied as Hongcun has been recognized as a cultural heritage that has been passed down since ancient times, but the Great Leap Forward and the Cultural Revolution brought about changes in the village space. Since then, ancient buildings, water systems, and forests have been preserved through regulations on new construction and expansion of a building with the Hongchon preservation plan, but the development within the preservation area is underway due to changes in the lives of original inhabitants, which were followed by continued development pressure and reform and opening. Third, the original inhabitant of ancient villages had a high perception of the value of the heritage, but they demanded the preparation of measures to improve living conditions and create profits, and the active use of villages for this. Fourth, the forest consisting of old trees is being restored, but the gardens in the old house are showing a phenomenon that the garden space is reduced or transformed for use. The bridges and parking lots were newly built in the southern area, which was extended from the western area, the original entrance to the ancient village, resulting in changes in the existing entrance. This was found to be the primary cause of the spatial change of the ancient village, as the road system was modified to make it convenient for tourists to enter and exit. Fifth, the existing preservation area should be reset and preserved by resetting the preservation route centered on Wolso(half Moon Pool), while the surrounding area should be set as a direct and indirect experience space, and according to the hierarchy of each space, the utilization should proceed while the preservation is carried out by crossing the preservation and the utilization.

• Clean Technology
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• v.28 no.4
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• pp.269-277
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• 2022

With the recent development of the biological enzymatic reaction industry, lactic acid (LA) can be mass-produced from biomass sources. In particular, a catalytic process that converts LA into acrylic acid (AA) is receiving much attention because AA is used widely in the petrochemical industry as a monomer for superabsorbent polymers (SAP) and as an adhesive for displays. In the LA conversion process, NaY zeolites have been previously shown to be a high-activity catalyst, which improves AA selectivity and long-term stability. However, NaY zeolites suffer from fast deactivation due to severe coking. Therefore, the aim of this study is to modify the acid-base properties of the NaY zeolite to address this shortcoming. First, base promoters, Ca ions, were introduced to the NaY zeolites to tune their acidity and basicity via ion exchange (IE) and incipient wetness impregnation (IWI). The IWI method showed superior catalyst selectivity and stability compared to the IE method, maintaining a high AA yield of approximately 40% during the 16 h reaction. Based on the NH₃- and CO₂-TPD results, the calcium salts that impregnated into the NaY zeolites were proposed to exit as an oxide form mainly at the exterior surface of NaY and act as additional base sites to promote the dehydration of LA to AA. The NaY zeolites were further treated with KOH before calcium impregnation to reduce the total acidity and improve the dispersion of calcium through the mesopores formed by KOH-induced desilication. However, this KOH treatment did not lead to enhanced AA selectivity. Finally, calcium loading was increased from 1wt% to 5wt% to maximize the amount of base sites. The increased basicity improved the AA selectivity substantially to 65% at 100% conversion while maintaining high activity during a 24 h reaction. Our results suggest that controlling the basicity of the catalyst is key to obtaining high AA selectivity and high catalyst stability.

• Journal of the Daesoon Academy of Sciences
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• v.31
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• pp.237-269
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• 2018

This study aims to look into Daesoon Thought from the perspective of Neo-Confucianism. Numinous emptiness (虛靈), wise-awakening (知覺), and divine beings (神明) in the Scripture of the Black Tortoise (Hyeonmu-gyeong) are often mentioned as characteristics of the mind in Neo-Confucianism. Accordingly, this research take up the 'Che-Yong (substance, 體 and function, 用)' of mind by classifying numinous emptiness as Origin-Substance (本體), wise-awaking as function, and divine beings as subjects. Numinous emptiness enables an individual to have been born with Li (理) of Taegeuk (太極), which is a mandate from Heaven and the nature of humanity; whereas one embodies spirit and brightness mind based on Origin-Substance. This numinous emptiness of mind is precisely the mind-spirit. Wise-awakening is a function of mind, which actually awakens numinous emptiness (理) and objects (氣). The mind which realizes the Li of Taegeuk as numinous emptiness is conscientiousness and can be taken as a Dao-Mind. The mind which desires objects refers to the Human Mind or a selfish motive. Such propensity in terms of wise-awakening determines the state of mind. One should reach the state of a quiet mind by wisely awakening through the scripture. Divine beings correspond to metaphysical Origin-Substance and physical objects respectively. In addition, they comprehend all and preside over wise-awakening as subjects. The subject recognizes wise-awakening and responds to it. Mind is a path traveled upon by divine beings as they enter and exit. In this regard, the human mind refers to the organ used by immanent deities, which accumulates physical senses, innermost mental processes, and awakened activities. Furthermore, Transcendental deities also come in and out through mental correspondence, leading to changes in one's physical constitution or personality. This paper focuses on the mind perceived in Daesoon Thought as follows: first, besides the existing spiritual perspective, the research takes a view on surveying numinous emptiness, wise-awakening, and divine beings in Neo-Confucianism. Secondly, the Che-Yong of mind is closely looked into by means of innate numinous emptiness as Che and wise-awakening as Yong. Lastly, the essence, energy, and divinity as well as spiritual soul and physical soul are mentioned according to the concept of an immanent deity. The paper also clarifies the fact that divine beings preside over the mind as subjects.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.21 no.1
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• pp.35-50
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• 2022

After the introduction of the central bus lane system, bus traffic was prioritized. This resulted in improved trust from bus users. However, the low capacity at the central bus stop reduces traffic speed and punctuality. In addition, physical constraints are inevitable because the construction of central bus lanes and bus stops considers the city's road geometry. Therefore, this study attempted to optimize the effective green time of the traffic signal system at the entrance and exit of the central bus stop to remedy its insufficient operational capacity. The Transit Capacity and Quality of Service Manual and Korea Highway Capacity Manual were used as the analysis methodologies. The number of stop areas for central bus stops to be built was determined by excluding variable physical factors, and field survey data collected from nine randomly selected central bus stops currently installed in Seoul were used. A scenario analysis was conducted on the central bus stops with insufficient capacity by adjusting the effective green time, and the capacity of the central bus stop was set as the dependent variable. According to the results, 26.7 percent of the central bus stops with insufficient capacity can solve the problem of insufficient capacity. Therefore, the results of this study can be verified by improving the operation level, and it can be effective even if the number of central bus stops calculated by engineering is not guaranteed during the planning stage of the central bus stop. As the number of central bus stops is expected to increase further as the number of central bus stops increases, it is necessary to improve the number of central bus stops. Therefore, it is hoped that the results presented in this study will be used as basic data for the improvement plan at the operational level before introducing the physical improvement plan.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.37-50
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• 2023

Venture capital invests the necessary capital and supports management and technology in promising small and medium-sized venture companies in the early stages of start-up with promising technology and excellent manpower. It plays a role as a key player in the venture ecosystem that realizes profits by collecting the investment through various means after growth. Venture capital's job is to recruit various investors(LPs) to invest in small and medium-sized venture companies with growth potential through the formation of venture investment funds, and to collect investment as companies grow, distribute and reinvest. The main tasks of venture capitalists, which play the most important role in venture investment, are finding promising companies, corporate analysis and evaluation, investment screening, follow-up management, and investment recovery. Venture capital's success indicators are fund formation and return on investment, and venture capitalists are rewarded with annual salary, performance-based incentive, and promotion with work performance such as investment, exit, and fund formation. Compared to the recent rapidly growing venture investment market, investment manpower is insufficient, and venture capital is making great efforts to foster manpower and establish infrastructure and systems for long-term service, but research has been conducted mainly from a quantitative perspective. Accordingly, this study aims to empirically analyzed the impact of investment experience, delegation of authority, job fit, and peer relationships on fund formation and return on investment according to the characteristics of the venture capital industry. The results of these empirical studies suggested that future venture capital needs a job environment and manpower operation strategy so that venture capitalists with high job fit and investment experience can work for a long time.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.63-75
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• 2023

This study conducted empirical analysis on the factors affecting the investment performance of 205 domestic venture funds (with a total liquidation amount of 7.25 trillion KRW) newly formed from 2007 to 2017 and completely liquidated as of the end of 2022. Due to the nature of private equity funds, obtaining empirical data is extremely challenging, especially for data post-COVID-19 era liquidations. Nevertheless, despite these challenges, it is meaningful to analyze the impact on the investment returns of domestic venture funds using the most recent data available from the past 10 years. This study categorized the factors influencing venture fund performance into external environmental factors and internal factors. External environmental factors included "economic cycles," "stock markets," "venture markets," and "exit markets," while internal factors included the fund management company's capabilities in terms of "experience," "professional personnel," and "assets under management (AUM)." The fund structure was also categorized into "fund size" and "fund length" for comparative analysis. In summary, the analysis yielded the following results: First, the 3-year government bond yield, which represents economic cycles well, was found to have a significant impact on fund performance. Second, the average 3-month KOSDAQ index return after fund formation had a statistically significant positive effect on fund performance. Third, the number of IPOs, indicating the competition intensity at the time of venture fund liquidation, was shown to have a negative effect on fund performance. Fourth, it was observed that the larger the AUM of the fund management company, the better the fund's returns. Finally, venture fund returns showed variations depending on the year of formation (Vintage). Therefore, when individuals consider investing in venture funds, it is considered a highly effective investment strategy to construct an investment portfolio taking into account not only external environmental factors and internal fund factors but also the vintage year.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.3
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• pp.103-117
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• 2022

The recent corporate economy, such as the COVID 19 pandemic that has spread all over the world since the beginning of 2020, the acceleration of the 4th industrial revolution, and supply chain management risks triggered by the US-China conflict and the Ukraine crisis, is more serious than ever before. CEOs who have started and managed small and medium-sized enterprises (SMEs) are more concerned than ever about the sustainability of their businesses in this reality. Nevertheless, there were few empirical studies on the factors that influence the intention of SME CEOs to discontinue business. In this study, the perception of the business environment of SMEs (intensity of competition in key business areas, difficulty in manpower management), corporate competency (employee competency, company product or service competitiveness, supply chain and consumer relations, digital competency and technical expertise), and CEO's competency(trust between employees and the CEO, management competency and perceived health status of CEO) on CEO's intention to discontinue business was discussed. As a result of the study, the intensity of competition in the main business field, and the difficulty in manpower management had a positive (+) effect on the intention to discontinue the business, and the employee competency, product (service) competitiveness, digital competency of the company, and the CEO's Health status had a negative (-) effect on intention to discontinue business. The relationship between these influences was found in the order of CEO's health status, product competitiveness, employee competency, digital competency, competitive strength in the main business, and difficulty in manpower management. It was analyzed that supply chain and consumer relations, trust between employees and the CEO, and management capabilities did not significantly affect the intention to discontinue business. On the other hand, business confidence has a mediating effect between the intensity of competition in the main business field, the difficulty in manpower management, product or service competitiveness, digital competency, trust between employees and the CEO, and the management capability and intention to discontinue business was tested. This study had academic significance in that it empirically analyzed factors related to intention to discontinue business targeting small and medium-sized business CEOs. In practice, as it has been found that business environment awareness, corporate competency, managerial competency, and business confidence are factors that influence the intention to discontinue business, if an action ideas that can reinforce this part can be found, SMEs can achieve sustainable growth or it may help CEO find an meaningful exit.