• Korean small business review
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• v.31 no.1
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• pp.73-88
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• 2009

This study examines the characteristics of 24 Korean hidden champions such as key success factors, core competences, strategic problems, and desirable future directions. The study categorized them into 8 types with Danny Miller's four trajectories and top manager's decision making style(rationality and passion). Danny Miller argued in his book, Icarus paradox, that outstanding firms will extend their orientations until they reach dangerous extremes and their momentum will result in common trajectories of decline. He suggested four very common success types: Craftsmen, Builders, Pioneers, Salesmen. He also suggested common trajectories of decline:Focusing(from Craftsmen to Tinkers), Venturing(from Builders to Imperialists), Inventing(from Pioneers to Escapists), Decoupling(from Salesmen to Drifts). In Korea, successful startups appear to possess three kinds of drive: Technology-drive, Vision-drive, Market-drive. Successful technology-driven firms tend to grow as craftsmen or pioneers. Successful vision-driven and market-driven ones tend to grow as builders and salesmen respectively. Korean top managers or founders seem to have two kinds of decision making style: Passion-based and Rationality-bases. Passion-based(passionate) entrepreneurs are biased towards action or proactiveness in competing and getting things done. Rationality- based ones tend to emphasis the effort devoted to scanning and analysing information to better understand a company's threats, opportunities and options. Consequently this study suggested 4*2 types of Korean hidden champions: (1) passionate craftsmen, (2) rational craftsmen, (3) passionate builders, (4) rational builders, (5) passionate pioneers, (6) rational pioneers, (7) passionate salesmen, (8) rational salesmen. These 8 type firms showed different success stories and appeared to possess different trajectories of decline. These hidden champions have acquired competitive advantage within domestic or globally niche markets in spite of the weak market power and lack of internal resources. They have maintained their sustainable competitiveness by utilizing three types of growth strategy; (1) penetrating into the global market, (2) exploring new service market, (3) occupying the domestic market. According to the types of growth strategy, these firms showed different financial outcomes and possessed different issues for maintaining their competitiveness. This study found that Korean hidden champions were facing serious challenges from the transforming economic structure these days and possessed the decline potential from their success momentum or self-complacence. It argues that they need to take a new growth engine not to decline in the turbulent environment. It also discusses how firms overcome the economic crisis and find a new business area in promising industries for the future. It summarized the recent policy of Korean government called as "Green Growth" and discussed how small firms utilize such benefits and supports from the government. Other implications for firm strategies and governmental policies were discussed.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.21-35
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• 2023

Expectations surrounding generative AI technology and its profound ramifications are sweeping across various industrial domains. Given the anticipated pivotal role of the startup ecosystem in the utilization and advancement of generative AI technology, it is imperative to cultivate a deeper comprehension of the present state and distinctive attributes characterizing venture capital (VC) investments within this domain. The current investigation delves into South Korea's landscape of VC investment deals and prognosticates the projected VC investments by juxtaposing these against the United States, the frontrunner in the generative AI industry and its associated ecosystem. For analytical purposes, a compilation of 286 investment deals originating from 117 U.S. generative AI startups spanning the period from 2008 to 2023, as well as 144 investment deals from 42 South Korean generative AI startups covering the years 2011 to 2023, was amassed to construct new datasets. The outcomes of this endeavor reveal an upward trajectory in the count of VC investment deals within both the U.S. and South Korea during recent years. Predominantly, these deals have been concentrated within the early-stage investment realm. Noteworthy disparities between the two nations have also come to light. Specifically, in the U.S., in contrast to South Korea, the quantum of recent VC deals has escalated, marking an augmentation ranging from 285% to 488% in the corresponding developmental stage. While the interval between disparate investment stages demonstrated a slight elongation in South Korea relative to the U.S., this discrepancy did not achieve statistical significance. Furthermore, the proportion of VC investments channeled into generative AI enterprises, relative to the aggregate number of deals, exhibited a higher quotient in South Korea compared to the U.S. Upon a comprehensive sectoral breakdown of generative AI, it was discerned that within the U.S., 59.2% of total deals were concentrated in the text and model sectors, whereas in South Korea, 61.9% of deals centered around the video, image, and chat sectors. Through forecasting, the anticipated VC investments in South Korea from 2023 to 2029 were derived via four distinct models, culminating in an estimated average requirement of 3.4 trillion Korean won (ranging from at least 2.408 trillion won to a maximum of 5.919 trillion won). This research bears pragmatic significance as it methodically dissects VC investments within the generative AI domain across both the U.S. and South Korea, culminating in the presentation of an estimated VC investment projection for the latter. Furthermore, its academic significance lies in laying the groundwork for prospective scholarly inquiries by dissecting the current landscape of generative AI VC investments, a sphere that has hitherto remained void of rigorous academic investigation supported by empirical data. Additionally, the study introduces two innovative methodologies for the prediction of VC investment sums. Upon broader integration, application, and refinement of these methodologies within diverse academic explorations, they stand poised to enhance the prognosticative capacity pertaining to VC investment costs.

• Health Policy and Management
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• v.34 no.1
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• pp.78-86
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• 2024

Background: The purpose of this study was to determine the effectiveness of the specialty hospital system by comparing the medical use of inpatients who had artificial joint replacement surgery in specialty hospitals and non-specialty hospitals. Methods: This study utilized 2021-2022 healthcare benefit claims data provided by the Health Insurance Review and Assessment Service. The dependent variable is inpatient medical use which is measured in terms of charges per case and length of stay. The independent variable was whether the hospital was designated as a specialty hospital, and the control variables were patient-level variables (age, gender, insurer type, surgery type, and Charlson comorbidity index) and medical institution-level variables (establishment type, classification, location, number of orthopedic surgeons, and number of nurses). Results: The results of the multiple regression analysis between charges per case and whether a hospital is designated as a specialty hospital showed a statistically significant negative relationship between charges per case and whether a hospital is designated as a specialty hospital. This suggests a significant low in charges per case when a hospital is designated as a specialty hospital compared to a non-specialty hospital, indicating that there is a difference in medical use outcomes between specialty hospitals and non-specialty hospitals inpatients. Conclusion: The practical implications of this study are as follows. First, the criteria for designating specialty hospitals should be alleviated. In our study, the results show that specialty hospitals have significantly lower per-case costs than non-specialty hospitals. Despite the cost-effectiveness of specialty hospitals, the high barriers to be designated for specialty hospitals have gathered the specialty hospitals in metropolitan and major cities. To address the regional imbalance of specialty hospitals, it is believed that ease the criteria for designating specialty hospitals in non-metropolitan areas, such as introducing "semi-specialty hospitals (tentative name)," will lead to a reduction in health disparities between regions and reduce medical costs. Second, it is necessary to determine the appropriateness of the size of hospitals' medical staff. The study found that the number of orthopedic surgeons and nurses varied in charges per case. Therefore, it is believed that appropriately allocating hospital medical staff can maximize the cost-effectiveness of medical services and ultimately reduce medical costs.

• Bangmulgwan gwa yeongu (The National Museum of Korea Journal)
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• v.1
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• pp.278-305
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• 2024

Gelatin dry plate photographs dating to the Japanese colonial era and the official documents from the Japanese Government-General of Korea Museum in the collection of the National Museum of Korea are significant materials documenting cultural heritage in North Korea before it was severely damaged in 1950 during the Korean War. There has been an increase in recent years in studies of Buddhist sculptures in North Korea based on these photographs and documents. This paper presents some new comments on the Buddhist sculptures at Seongbulsa Temple in Hwangju, one of the most famous temples in Hwanghae-do Province, based on the related existing research outcomes. This paper aims to facilitate a more comprehensive understanding of the Buddhist sculptures at Seongbulsa Temple by chronicling its history based on historical records, examining its current status, and exploring in detail the production dates and backgrounds of the Buddhist sculptures featured on gelatin dry plates. Prior to Korea's liberation from Japan in 1945, Seongbulsa housed at least seven sculptural items: two Bodhisattva statues, four Buddha statues, and a triad. Two items are from the early Goryeo period, one is from the late Goryeo period, three are from the early Joseon period, and one is from the late Joseon period. Among them, two surviving items are noteworthy. One is the early Goryeo-era Stone Seated Bhaishajyaguru Buddha photographed in Eungjinjeon Hall at Seongbulsa Temple. A close examination of a schematic drawing of the sculpture's pedestal made at the time it was photographed reveals that its material accords with the materials used for the headless Stone Seated Bhaishajyaguru Buddha and pedestal currently found in the old Sangwonam Hermitage site in the Inner Geumgang Valley of Jeongbangsan Mountain. This accordance could mean that the statue is a new significant example of early Goryeo Buddhist sculpture in North Korea. The other notable sculpture is the Gilt-bronze Seated Amitabha Buddha Triad created in 1454 (the second year of the reign of King Danjong) and discovered in Geungnakjeon Hall at Seongbulsa. This statue is currently in the collection of the Sariwon History Museum in Hwanghae-do Province. It is an important example of a dated small gilt-bronze Buddhist statue from the early Joseon period found in North Korea. This paper is a case study of Buddhist sculptures in North Korea, focusing on Seongbulsa Temple. Further utilization of the National Museum of Korea's gelatin dry plates will contribute to developing the study of the history of Korean Buddhist sculpture.

• The Korean Society of Law and Medicine
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• v.24 no.4
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• pp.67-101
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• 2023

The utilization of generative AI in the medical field is also being rapidly researched. Access to vast data sets reduces the time and energy spent in selecting information. However, as the effort put into content creation decreases, there is a greater likelihood of associated issues arising. For example, with generative AI, users must discern the accuracy of results themselves, as these AIs learn from data within a set period and generate outcomes. While the answers may appear plausible, their sources are often unclear, making it challenging to determine their veracity. Additionally, the possibility of presenting results from a biased or distorted perspective cannot be discounted at present on ethical grounds. Despite these concerns, the field of generative AI is continually advancing, with an increasing number of users leveraging it in various sectors, including biomedical and life sciences. This raises important legal considerations regarding who bears responsibility and to what extent for any damages caused by these high-performance AI algorithms. A general overview of issues with generative AI includes those discussed above, but another perspective arises from its fundamental nature as a large-scale language model ('LLM') AI. There is a civil law concern regarding "the memorization of training data within artificial neural networks and its subsequent reproduction". Medical data, by nature, often reflects personal characteristics of patients, potentially leading to issues such as the regeneration of personal information. The extensive application of generative AI in scenarios beyond traditional AI brings forth the possibility of legal challenges that cannot be ignored. Upon examining the technical characteristics of generative AI and focusing on legal issues, especially concerning the protection of personal information, it's evident that current laws regarding personal information protection, particularly in the context of health and medical data utilization, are inadequate. These laws provide processes for anonymizing and de-identification, specific personal information but fall short when generative AI is applied as software in medical devices. To address the functionalities of generative AI in clinical software, a reevaluation and adjustment of existing laws for the protection of personal information are imperative.

• Journal of Global Scholars of Marketing Science
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• v.18 no.1
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• pp.1-31
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• 2008

Trust is central to human relationships, at all times and places. The importance of trust is fundamental in all areas of human life, not only in the area of business administration. 2,500 years ago in China, Confucius taught that the foundation of politics was the trust of the people, more important even than military strength or the supply of food. Shakespeare's play, "Much Ado about Nothing' is about trust and deception. These days, trust and transparency in a commercial organization's business culture form the basis of the 'social capital' by which that organization increases its productivity. A successful company raises productivity by the accumulation of social capital, derived from a trust relationship between business partners, and between the company and consumers. Trust is the crucial factor. At the national level, building trust determines a nation's competitiveness. For a company, long term trust relationships with customers are essential for its survival in a business environment of rapid change. Such relationships, based on trust, are important assets to ensure a company's competitive advantage, and need to be organic to that company's business culture. Because of this importance, trust relationships have been studied in diverse areas within business administration, and especially within marketing, where they form the basis of a successful relationship between producer and consumer. However, what has been lacking is a unified definition of trust. Research has been conducted on the basis of various definitions and models. The majority of researchers have not considered the multidimensional character of the concept of trust until now. Approaches based on a one dimensional model have undermined the value of research results. Furthermore, researchers have only considered trust and trustworthiness as a single component. The majority of research has explored the consequences of perceived trust for outcomes such as loyalty or cooperation, but has neglected the effects of trustworthiness upon the mechanisms of consumer trust. This study focuses on the dimension of trust from such a perspective. It seeks to verify the effect of trust on customer intentions by breaking it down into three separate components: 1) the salesperson, 2) the product/service, and 3) the company. The purposes of this paper are as follows: Firstly, we review the multidimensional nature of trust objects: the salesperson, the product/service, and the company. Secondly, we analyze the relationship between multidimensional trust and trustworthiness. Thirdly, we analyze the connection between trust and repeat purchase intentions for the maintenance of long term relationships. For these purposes the author has developed several hypotheses as follows: H1-1: The competence of a salesperson is positively associated with the trust given by the consumer to the salesperson. H1-2: The benevolence of a salesperson is positively associated with the trust given by the consumer to the salesperson. H2-1: The competence of product/service is positively associated with the trust given by the consumer to the product/service. H2-2: The benevolence of product/service is positively associated with the trust given by the consumer to the product/service. H3-1: The reputation of a company is positively associated with the trust given by the consumer to the company. H3-2: The physical environment of a company is positively associated with the trust given by the consumer to the company. H4-1: Trust in a salesperson is positively associated with repeat purchase intentions. H4-2: Trust in a product/service is positively associated with repeat purchase intentions. H4-3: Trust in a company is positively associated with repeat purchase intentions. The data was compiled from 366 questionnaires. 500 questionnaires were collected, but some of the data was considered unsuitable and inappropriate. The subjects of the survey were male and female customers purchasing products at department stores in Seoul, Daegu and Gyeongbuk. It was carried out between Oct. 25 and 29, 2007. The data was analyzed by frequency analysis using SPSS 12.0 and structural equation modeling using LISREL 8.7. The result of the overall model analysis is as follows: Chi-Square=445.497, d.f.=185, p-value=0.0, GFI=.901, RMSEA=.0617, NNFI=.986, NFI=.981, CFI=.989, AGFI=.864, RMR=.0872. The results of the overall model analysis were coherent. It was found that trust is a multi-dimensional construct, that each of the dimensions of trust are meaningful influences on customer's repurchase intention. Trust in a company may be the most relevant, while trust in a product/service and a salesperson may be less relevant to repurchase intentions. The effective factors in determining trust in a salesperson and a company's product/service were found to be competence and benevolence. Factors in determining trust in a company were its reputation and physical environment, and the relationship of each effective trust factor has been verified in this research. As a result, it was found that competence and benevolence have a meaningful influence on trust in a salesperson and in product/service. It was also found that a company's reputation influences the overall trust in the company significantly but a company's physical environment does not have much effect.

• Journal of the Korean Geographical Society
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• v.30 no.4
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• pp.364-388
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• 1995

Even though rarely recognized as a separate approach, the institutional approach in geography is defined as an attempt to seek an explanation of the phenomena of geographical interest through focusing on the effects of institutional structure and actions. It can provide interdisciplinary links with other works and can offer complementary explanations for geographical interests. The concerns for institutions in geography can be found in early studies, the study of the state, the managerial approach, and the regulation approach. The Korean financial systems can provide good examples to apply institutional concepts into creating spatial outcomes, as it has been regarded as a useful tool to promote Korean economic development. Behind the current spatial pattern of financial systems, four different stages of institutional changes are identified in Korea. Each stage has different institutional features reflecting unique spatial implication.

• The Journal of Engineering Geology
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• v.19 no.1
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• pp.71-79
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• 2009

Step-drawdown tests were conducted at four pumping Wells, two in porous media and two in fractured rocks, respectively. In general, P = 2.0 suggested by Jacob (1947) is applied to porous media and fractured rocks in terms of drawdowns of step-drawdown test. In an attempt to review problems of linear model (Jacob's graphic method) in interpreting the step-draw down test, the outcomes of well parameters (aquifer loss coefficient (B), well loss coefficient (C) and well loss exponent (P)) calculated from linear and nonlinear model (Labadie and Helweg's least-squares method) were compared and analyzed. The values of C and P calculated from linear and nonlinear models differed according to permeability of aquifer and the conditions of pumping well. The value C obtained from nonlinear models in porous media and fractured rocks is about $10^0{\sim}10^{-2}$ and $10^{-3}{\sim}10^{-6}$ times lower than in their linear models, respectively. The value P of porous media obtained from nonlinear model ranged from 2.123 to 2.775, while it ranged from 3.459 to 5.635 for fractured rocks. In case of nonlinear model, well loss highly depends on the value P. At this time, well efficiencies calculated from linear and nonlinear models were $1.56{\sim}14.89%$ for porous media and $8.73{\sim}24.71%$ for fractured rocks, showing a significant error according to chosen models. In nonlinear model, it was found that the regression analysis using the least squares method was very useful to interpret step-drawdown test in all aquifer.

• Journal of Food Hygiene and Safety
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• v.26 no.3
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• pp.198-202
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• 2011

Rice has been the most important staple food in everyday meals of Korean people for thousands of years. Nowadays, it is getting increasingly used as flour ingredients in a variety of processed foods, so that it is consumed in more diversified ways. As a consequence, production volume of rice flour to manufacture rice cakes, noodles, breads, or confectioneries is recently getting increased in Korea. But there are not sufficient research outcomes to guarantee Korean consumers microbiological qualities of rice flour as well as rice. As a preliminary experiment, therefore, the microbiological profiles (aerobic mesophilic bacteria (AMB), spore-forming aerobic bacteria (SAB), lactic acid bacteria (LAB), yeasts and molds (YM), and Escherichia coli and coliforms) have been monitored for nine retailed white rice samples in this study. AMB counts ranged $10^2-10^6$ CFU/g for all the nine white rice samples. All the nine rice samples have SAB counts within a narrow range $(1.0{\times}10^2-2.5{\times}10^3$ CFU/g). LAB was detected in two white rice samples ($4.0{\times}10^2$ and $3.7{\times}10^3$ CFU/g), YM was detected in one white rice sample ($2.0{\times}10^2$ CFU/g) only. E. coli was not detected from all the nine samples. Coliforms were detected in one white rice sample ($4.1{\times}10$ CFU/g) only. All the rice samples were conclusively considered to have various microorganisms, though most of them are harmless and some, such as coliforms, may be harmful.

• Journal of Nutrition and Health
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• v.53 no.2
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• pp.215-229
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• 2020

Purpose: This study examines the attitude of South Korean adults toward food aid to North Korea and factors associated with it. Methods: An online survey involving 1,000 adults aged 19-69 years was conducted between September-October 2019. Throughout South Korea, the subjects were proportionally distributed with respect to gender, age, and region, to represent South Korean adults. Results: A total of 44.6% of the respondents agreed (Agreement group), 36.7% disagreed (Disagreement group), and 18.7% neither agreed nor disagreed to food aid to North Korea. Compared to the Disagreement group, the Agreement group had a higher concern of food aid to North Korea and a more positive perception on the effect of it. The Agreement group selected "direct assistance from the government" whereas the Disagreement group chose "support through international organizations" as the most appropriate channel for food aid to North Korea. Logistic regression analysis revealed that South Korean adults showing a more positive perception on the effect of food aid to North Korea were more likely to agree to the aid (odds ratio [OR], 19.32). Moreover, compared to the conservatives, the progressives were more likely to agree to food aid to North Korea (OR, 5.94). South Korean adults in their 40-50s were more likely to agree to food aid to North Korea than those in their 20-30s (OR, 2.81). South Korean adults with a higher concern of food aid to North Korea (OR, 3.93) and a greater positive perception on Korean unification (OR, 1.88) were more likely to agree to food aid to North Korea. Conclusion: The most important factor associated with the attitude of South Korean adults toward food aid to North Korea was their perception on the subsequent effect. As strategies to draw social consensus on food aid to North Korea, we recommend systematizing the monitoring process on the effect of providing food aid to North Korea and informing the public of the outcomes.