• The Korean Journal of Franchise Management
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• v.7 no.1
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• pp.5-11
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• 2016

Purpose - The purpose of this paper is to find the issues associated with international expansion of Korean franchisors going international and suggest lessons of proposition to reduce the failure risk in international expansion of franchise systems. Research design, data, and methodology - This is the exploratory study and structured to review (1) background to motivate the expansion of franchisors towards international market, (2) the status of Korean franchisors going international in recent years, (3) issues, (4) lessons learned from the experiences, and (5) summary. Secondary sources were reviewed to get necessary data and statistics. Results - Master franchising was the most preferred entry mode for Korean franchisors. Franchisors must understand the expenses to be incurred as well as revenues associated with international activities. Brand is the core asset of franchisor as a differentiation strategy. Conclusions - The paper indicates that even if international franchising is the unique business model for franchisors to use in little or least risk compared with other international entry modes, it needs a set of complex capabilities that much differ from those in domestic and franchisors should take a step approach to the international market with the planned and long term perspective.

• Asia-Pacific Journal of Business
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• v.13 no.4
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• pp.45-59
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• 2022

Purpose - This study investigates the performance of investment strategies incorporating estimated stock market cycle based on a lead-lag relationship between business cycle and stock market cycle, thereby deriving empirical implications on risk management. Design/methodology/approach - The data period ranges from June 1953 to September 2022 and de-trended short rate, term spread, credit spread, stock market volatility are considered as major input variables to estimate business cycle and stock market cycle by applying probit model. Based on the estimated stock market cycle, two types of strategies are constructed and their performance relative to the benchmark is empirically examined. Findings Two types of strategies based on stock market cycle are considered: The first strategy is to long(short) on stocks when stock market stage is expected to be an expansion(a recession), and the second one is to long on stocks(bonds) when expecting an expansion(a recession). The empirical results show that the strategies based on stock market cycle outperforms a simple buy and hold strategy in both in-sample and out-of-sample investigation. Also the out-of-sample evidence suggests that the second strategy which is in line with asset allocation is more profitable than the first one. Research implications or Originality The strategies considered in this study are based on the estimated stock market cycle which only depends on a few easily available financial variables, thereby making easier to establish such a strategy. It implies that investors enhance investment performance by constructing a relatively simple trading strategies if they set their position on stocks or choose which asset class to buy conditioning on stock market cycle.

• Proceedings of the Korea Society for Simulation Conference
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• 2001.05a
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• pp.163-163
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• 2001

The primary research questions in this paper are why and how competing firms collaborate, not compete, in the virtual marketplace, e.g., B2B marketplace in the Internet environment. In order to answer the questions, we take on a system dynamics simulation approach: we consider two broad e-collaboration strategies: · Exclusive e-business strategy If the firm adopts this strategy, it allocates all of its resources (available for e-business development) to its own e-business capability building only. · Collaborative e-business strategy When the firm adopts a collaborative e-business strategy, it invests not only in its own, but also the industrys e-business capability building. From the system dynamics simulation results, we conclude that e-collaboration pays off in the long run: although it is hard to tell whether the collaborative strategy is better than the exclusive one during the initial period, it is unambiguous that the collaborative e-business strategy Performs much better in the long run. We infer that such collaboration could occur when the firms realize that they benefit from the expansion of the market demand due to their collaboration. That is, in order for such collaboration between competing firms to be sustainable, such collaboration should create more demand in the market so that each company could earn more profit even if it gets less in terms of market share.

• Journal of Soil and Groundwater Environment
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• v.27 no.2
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• pp.36-40
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• 2022

To respond to rapidly changing water circumstances such as climate change, drought, etc., the korean government (MOE) established four advanced strategies for integrated groundwater management. The first strategy is watershed-based management of groundwater. The second strategy is total quantity management of groundwater including improvement of groundwater preservation area policy and procedure of investigation for groundwater influence area, additional construction of groundwater dam, installation of large-scale public wells, extention of spilled groundwater use. The third strategy is prevention of groundwater contamination including expansion of monitoring wells, introducing declaration of groundwater contamination. The last strategy is advancement of groundwater information management including integrated management of data, setting up a big-data based open platform. The above-mentioned four strategies will be reflected in the 4th National Groundwater Management Plan to secure implementation power, and it is expected to laid the foundation for advanced and rational groundwater management system.

• Korean Business Review
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• v.21 no.2
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• pp.79-97
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• 2008

Between different organization, they creat competitiveness from the result of their own manufacturing and sales activity especially the manufacturing companies. This paper will focus on the spot location strategy of korea company which have oversea business and find out the relationship between the spot location strategy and the resources or competitive ability of this kind of companies. Each company has their own way to realize their overseas business expansion and creat their competitiveness in their international business. At the same time, they also have their own way to share their resources and their competitive ability. All this 3 kinds of strategies are important and the combination of them is more important for companies that have overseas business. To examine the relationship between the spot location, the resources and the competitive ability strategies, this paper developed two hypotheses and tested them. To test the hypotheses, this paper conducted a mail survey to operations managers of overseas companies in Korea and collected 102 usable responses. To simplify the responses, this paper used cluster analysis and found 3groups of spot location strategy, 2 groups of resources strategy and 2 groups of competitive abilities strategy. This paper also investigated interdependence and performance differences between these groups. From the analyses, this paper found the following results: It is important for a overseas company to make their spot location strategy to be fit for their resources strategy and competitive abilities strategy and a perfect spot location strategy can make the company gain a advantage of high level in most of time.

• Journal of Environmental Impact Assessment
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• v.23 no.1
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• pp.1-9
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• 2014

This study, focusing on the area expansion of limestone mines, identifies the problems of Environmental Impact Assessment(EIA) and what impact the current problems exert on another mines developing process. The legal relations analysis reveals that the Management of Mountainous Districts Act and other related laws effect on EIA process, especially the case of area expansion of limestone mines excluded from EIA. However, these problems can create mismatch with the policy goal of EIA system and have a negative impact on the environment in the future. A series of indepth interviews with managers in related agencies found that those agencies have been unaware of the seriousness of the problem. Without any strategy, negative result made by development activities would get more serious and sustainable development may not be possible at all. In order to solve these problems, government should modify the current interdependent legal provision and create the incentive structure to participate actively related agency in the EIA system.

• Proceedings of the KIEE Conference
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• 2007.07a
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• pp.574-575
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• 2007

This paper proposes a method for choosing the best transmission system expansion plan using nodal/bus delivery marginal rate criterion ($BMR_k$) defined newly in this paper. The objective method minimizes a total cost which is an investment budget for constructing new transmission lines subject to the $BMR_k$ which means a nodal deterministic reliability level requirement at specified load point. The proposed method models the transmission system expansion problem as an integer programming problem. It solves for the optimal strategy using a branch and bound method that utilizes a network flow approach and the maximum flow-minimum cut set theorem. Test results on an existing 21-bus system are included in the paper. It demonstrated the suitability of the proposed method for solving the transmission system expansion planning problem in competitive electricity market environment.

• Proceedings of the KIEE Conference
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• 2004.11b
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• pp.297-300
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• 2004

This paper proposes a method for choosing the best composite power system expansion plan considering probabilistic reliability criterion. The proposed method was modeled as the minimization of the investment budget (economics) for constructing new transmission lines subject to not only deterministic(demand constraint) but also probabilistic reliability criterion(LOLE) with considering the uncertainties of the system elements. This is achieved by modeling the power system expansion problem as an integer programming one. The method solves for the optimal strategy using a probabilistic theory based branch and bound method that utilizes a network flow approach and the maximum flow-minimum cut set theorem. Although the proposed method is applied to a simple sample study, the test results demonstrate a fact that the proposed method is suitable for solving the power system expansion planning problem subject to practical uncertainties for future.

• Journal of the Korean Institute of Intelligent Systems
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• v.11 no.7
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• pp.659-665
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• 2001

Relevance feedback is the most popular query reformulation strategy in a relevance feedback cycle, the user is presented with a list of the retrieved documents and, after examining them, marks those which are relevant. In practice, only the top 10(or 20) ranked documents need to be examined. The main idea consists of selecting important terms, or expressions, attached to the documents that have been identified as relevant by the user, and of enhancing the importance of these terms in a new query formulation. The expected effect is that the new query will be moved towards the relevant documents and away from the non-relevant ones. Local analysis techniques are interesting because they take advantage of the local context provided with the query. In this regard, they seem more appropriate than global analysis techniques. In a local strategy, the documents retrieved for a given query q are examined at query time to determine terms for query expansion. This is similar to a relevance feedback cycle but might be done without assistance from the user.

• International Journal of Fuzzy Logic and Intelligent Systems
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• v.2 no.1
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• pp.9-14
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• 2002

Boolean retrieval is simple and elegant. However, since there is no provision for term weighting, no ranking of the answer set is generated. As a result, the size of the output might be too large or too small. Relevance feedback is the most popular query reformulation strategy. in a relevance feedback cycle, the user is presented with a list of the retrieved documents and, after examining them, marks those which are relevant. In practice, only the top 10(or 20) ranked documents need to be examined. The main idea consists of selecting important terms, or expressions, attached to the documents that have been identified as relevant by the user, and of enhancing the importance of these terms in a new query formulation. The expected effect is that the new query will be moved towards the relevant documents and away from the non-relevant ones. Local analysis techniques are interesting because they take advantage of the local context provided with the query. In this regard, they seem more appropriate than global analysis techniques. In a local strategy, the documents retrieved for a given query q are examined at query time to determine terms for query expansion. This is similar to a relevance feedback cycle but might be done without assistance from the user.