• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.2
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• pp.159-179
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• 2024

Based on the case of collaboration between large companies and startups, this study suggests the importance of establishing mutual cooperation and trust relationships for the success of open innovation strategy from the perspective of cooperative game theory. It also provides implications for how this can be implemented. Due to information asymmetry and differences in organizational culture and decision-making structures between large companies and startups, collaboration is likely to proceed in the form of non-cooperative games among players in general open innovation, leading to the paradox of open innovation, which lowers the degree of innovation. Accordingly, this study conducted a case study on collaboration between large company 'G' and startup 'S' based on the research question "How did we successfully promote open innovation through cooperative game-type collaboration?" The study found that successful open innovation requires (1) setting clear collaboration goals to solve the organizational problem between large companies and startups, (2) supporting human resources for qualitative growth of startups to solve reliability problems, (3) leading to strategic investment and joint promotion of new projects to solve the profit distribution problem. This study is significant in that it contributes to expanding the discussion of the success factors of open innovation to the importance of interaction and strategic judgment considering the organizational culture and decision-making structure among players, and empirically confirming the success conditions of open innovation from the perspective of cooperative game theory.

• Journal of the Korea Institute of Building Construction
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• v.24 no.1
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• pp.145-156
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• 2024

In an era where construction projects are becoming increasingly large and complex, the Korean construction industry faces the challenge of implementing systematic and cohesive schedule management practices. This study initially delineates the concept of schedule management capabilities, systematically categorizing them into five distinct domains: law and regulations, requirements of project owners, capabilities of professionals and organizations, task capability, and the adoption of smart construction technologies for schedule management. Through a survey targeting industry professionals, this research assesses the perceived importance and the actual proficiency level in schedule management across these categories, employing an Importance Performance Analysis(IPA) to scrutinize these capabilities. The findings underscore the acknowledged significance of diverse aspects of schedule management, yet reveal discrepancies between the current proficiency levels and their perceived importance, pinpointing areas necessitating enhancement. Critical improvement needs identified encompass the planning of budgets for schedule management, development of regulations for assessing construction periods, deployment of specialized on-site staff for schedule management, and investment in advanced schedule management software solutions. Consequently, this study offers a nuanced analysis and strategic insights for enhancing schedule management practices, aiming to facilitate their effective implementation in the field.

• Journal of Korea Technology Innovation Society
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• v.21 no.1
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• pp.130-150
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• 2018

Technology valuation refers to the act, procedures, or techniques in evaluating certain technology and its value for commercialization. For this purpose, deadlines and process plans are established based on valuation goals such as technology transfer, investment and financing, investment in kind, and strategy establishment. The technology valuation process involves analyzing and evaluating technology performance, rights, marketability, and business value technology, as well as calculating the monetary value of technology modules based on the results. Analysis and evaluation of each module is performed by a team of experts having knowledge of specific technology. Valuation of technologies is conducted as independent projects by project managers (PM) who integrate and manage modules; they must have expertise in systematic performance of task support and management to ensure objectivity and reliability. Furthermore, the valuation team comprises expert stakeholders having knowledge about each module due to the nature of technology valuation. For smooth knowledge sharing in technology and valuation procedures, communication skills and roles of PMs supporting and managing the valuation are important. Primarily, PMs must resolve conflicts between evaluators participating in different tasks, evaluators and evaluatees, and technology holders and receivers. This study examines technology valuation for four conflicts occurring frequently among stakeholders providing valuation support to PMs, and seeks resolutions. The conflicts and resolutions discussed in this study may lead to more specialized roles of PMs in technology valuation and project management, as well as systemized valuation support and management plans.

• KDI Journal of Economic Policy
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• v.13 no.4
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• pp.91-116
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• 1991

Market liberalization progressing simultaneously with high and rapidly rising domestic wages has created an adverse business environment for domestic firms. Korean firms are losing their international competitiveness in comparison to firms from LDC(Less Developed Countries) in low-tech industries. In high-tech industries, domestic firms without government protection (which is impossible due to the liberalization policy and the current international status of the Korean economy) are in a disadvantaged position relative to firms from advanced countries. This paper examines the division of roles between the private sector and the government in order to achieve a successful structural adjustment, which has become the impending industrial policy issue caused by high domestic wages, on the one hand, and the opening of domestic markets, on the other. The micro foundation of the economy-wide structural adjustment is actually the restructuring of business portfolios at the firm level. The firm-level business restructuring means that firms in low-value-added businesses or with declining market niches establish new major businesses in higher value-added segments or growing market niches. The adjustment of the business structure at the firm level can only be accomplished by accumulating firm-specific managerial assets necessary to establish a new business structure. This can be done through learning-by-doing in the whole system of management, including research and development, manufacturing, and marketing. Therefore, the voluntary cooperation among the people in the company is essential for making the cost of the learning process lower than that at the competing companies. Hence, firms that attempt to restructure their major businesses need to induce corporate-wide participation through innovations in organization and management, encourage innovative corporate culture, and maintain cooperative labor unions. Policy discussions on structural adjustments usually regard firms as a black box behind a few macro variables. But in reality, firm activities are not flows of materials but relationships among human resources. The growth potential of companies are embodied in the human resources of the firm; the balance of interest among stockholders, managers, and workers of the company' brings the accumulation of the company's core competencies. Therefore, policymakers and economists shoud change their old concept of the firm as a technological black box which produces a marketable commodities. Firms should be regarded as coalitions of interest groups such as stockholders, managers, and workers. Consequently the discussion on the structural adjustment both at the macroeconomic level and the firm level should be based on this new paradigm of understanding firms. The government's role in reducing the cost of structural adjustment and supporting should the creation of new industries emphasize the following: First, government must promote the competition in domestic markets by revising laws related to antitrust policy, bankruptcy, and the promotion of small and medium-sized companies. General consensus on the limitations of government intervention and the merit of deregulation should be sought among policymakers and people in the business world. In the age of internationalization, nation-specific competitive advantages cannot be exclusively in favor of domestic firms. The international competitiveness of a domestic firm derives from the firm-specific core competencies which can be accumulated by internal investment and organization of the firm. Second, government must build up a solid infrastructure of production factors including capital, technology, manpower, and information. Structural adjustment often entails bankruptcies and partial waste of resources. However, it is desirable for the government not to try to sustain marginal businesses, but to support the diversification or restructuring of businesses by assisting in factor creation. Institutional support for venture businesses needs to be improved, especially in the financing system since many investment projects in venture businesses are highly risky, even though they are very promising. The proportion of low-value added production processes and declining industries should be reduced by promoting foreign direct investment and factory automation. Moreover, one cannot over-emphasize the importance of future-oriented labor policies to be based on the new paradigm of understanding firm activities. The old laws and instititutions related to labor unions need to be reformed. Third, government must improve the regimes related to money, banking, and the tax system to change business practices dependent on government protection or undesirable in view of the evolution of the Korean economy as a whole. To prevent rational business decisions from contradicting to the interest of the economy as a whole, government should influence the business environment, not the business itself.

• Journal of the Economic Geographical Society of Korea
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• v.14 no.3
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• pp.419-436
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• 2011

Korean farm villages are locked in vicious circle, as lots of their problems related to low income and hollow matters are geared and multiply. To get over those problems, various plans to develop Korean farm villages are being pushed ahead. In addition, since the early of 1990s, Korea has been projects to develop settlement zones and culture villages. It has been also preceeding with a comprehensive development project of farm villages and a new vitalizations project, etc. All of these projects aim to reorganize and expand life environments, industrial bases, and convenience and welfare facilities. The existing studies on a comprehensive project to develop farm villages have been focusing on evaluation indexes, problems, investment priorities, etc. But in fact, studies on a comprehensive development project of farm villages are not thoroughgoing enough in aspects of residents' attitude and their recognition on the influence on tourist development. Thus, this study aims to present strategic schemes to allow residents to actively participate in a stage of promoting a comprehensive development project of farm villages, a stage of making the plan, and a stage of the implementation. For this, this study analyzes a comprehensive development project of farm villages and attempts to figure out which influence the tourist development in farm villages has on residents' attitude and recognition resulting from changes in economic, social cultural, and environmental aspects. Especially, this study previously examines what influential factors there exists are and what influences the development of farm villages has on residents. Based on the results from the above analysis, schemes to enable residents to actively a comprehensive development project of farm villages are presented as follows. First, it is necessary to raise our recognition on tourism and tourism development of farm villages. If the main theme of a comprehensive development project of farm villages intends farm village development, it is required to educate residents and let them clearly raise their recognition on tourism, and the effect of the project is guaranteed. Second, it is highly required to make a plan so that we can feel economic effects of revenues through project promotion and positive effects including the expansion of infrastructures and welfare facilities, etc. Third, it is necessary to bring into relief the positive recognition and attitude of a comprehensive development project of farm villages. As for the negative recognition and attitude, it is very important to change negative residents' recognition to the positive direction and to allow them to participate in and to take an interest in the project, so that the project can be effectively promoted.

• Korean Journal of Construction Engineering and Management
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• v.20 no.4
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• pp.22-33
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• 2019

The government has steadily revised and developed laws and systems for activating remodeling of apartments in response to the problems of aged apartments. However, despite such efforts, remodeling has yet to be activated. For many reasons, this study noted that there were no tools for reasonable profitability judgements and decision making in the preliminary stages of the remodeling project. Thus, the feasibility evaluation model was developed. Generally, the profitability judgements are made after the conceptual design. However, decisions to drive remodeling projects are made at the preliminary stage. So a feasibility evaluation model is required at the preliminary stage. Accordingly, In this study, a feasibility evaluation model was developed for determining preliminary stage profitability. Construction costs, business expenses, financial expenses, and generally sales revenue were calculated using the initial available information and remodeling variables derived through the existing cases. Through this process, we developed an algorithm that can give an overview of the return on investment. In addition, the preliminary stage feasibility evaluation model developed was applied to three cases to verify the applicability of the model. Although applied in three cases, the difference between the model's forecast and actual case values is less than 5%, which is considered highly applicable. If cases are expanded in the future, it will be a useful tool that can be used in actual work. The feasibility evaluation model developed in this study will support decision making by union members, and if the model is applied in different regions, it will be expected to help local governments to understand the size of possible remodeling projects.

• Journal of Ginseng Culture
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• v.3
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• pp.90-118
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• 2021

Gaeseong fostered the conditions necessary for modern capitalism, as huge capital was accumulated through the cultivation and trade of ginseng, which were activities that flourished in the 18th century. During the Japanese colonial era, ginseng merchants were not simply limited to acquiring landowner capital from ginseng trade but actively converted such resource to productive and financial capital, thereby becoming modern entrepreneurs. Ginseng merchants led the joint management and investment of Gaeseong Electric Co., Ltd., Daehan Cheonil Bank, Gaeseong Brewing Co., Ltd., and Songgo Textile Company, founded in the early 20th century. They pursued corporate profits and, as leading individuals of society, spearheaded regional development by supporting educational and cultural projects in Gaeseong. These projects included the establishment of the Gaeseong Commercial School, the publication of Goryeo Times, and the operation of the Gaeseong Jwa Theater. Although liberal economics prioritized shareholder interest, the 21st century witnessed an emphasis on social responsibility among stakeholders asthe major purpose of enterprises. A trend that emerged was ESG (environment, social, governance) management, in which non-financial factors are valued more highly than financial performance. A successful business, which was denoted only by high profits in the past, is now defined by whether a company fulfills its social responsibility. In the early 20th century, the corporate activities of ginseng merchants in Gaeseong reflected entrepreneurship and stakeholder-centered ESG management, which later emerged as essential elements of modern business management. The modern management philosophy ahead of its times stemmed from the regionality of Gaeseong. The political discrimination against Gaeseong residents in the Joseon Dynasty precluded them from becoming government officers, and under a strict social hierarchy, yangban ("noblemen"), the intellectuals of the Joseon Dynasty, were forced to serve as merchants. Son Bong-sang and Kong Seong-hak, aside from being representative ginseng merchants, were both Confucian scholars and writers. The second and third generations of ginseng merchant families who had received higher education abroad returned to Gaeseong to carry on with their family businesses, then established modern companies with capital accrued from the ginseng industry. An analysis of the commercial activities of ginseng merchants in the early 20th century confirmed that these individuals were pioneering entrepreneurs who adopted the ESG management philosophy. In ginseng merchants, one sees a dimension of capitalism with a human face, as with ginseng thatsaves human life.

• Journal of the Korea Convergence Society
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• v.8 no.8
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• pp.355-363
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• 2017

Jeju-do was designated as the 'first horse industry special zone' in 2014, followed by additional designation of horse industry special zones in Icheon, Yongin of Gyeonggi-do and Gyeongsangbuk-do in 2015. As a result, horses have become no more synonymous with Jeju-do. Jeju-do may see its competitive edge becoming blunt, compared to other local governments, due to its environmental characteristics and accessibility. The Korean proverb, "Send people to Seoul and horses to Jeju-do", has become an old saying that does not match reality. However, Jeju-do, designated as the first horse industry special zone, is expected to play a leading role in cultivation of domestic horse industry and faces a challenge of creating exemplary cases of success in transforming horse industry into the senary (6th) industry. In addition, KRW 114.2 billion is planned to be invested into 35 projects covering 9 sectors, including supply of elite domestic racing horses, expansion of demand basis for horse-riding, cultivation of horse meat industry, etc., by 2017 as envisioned by the horse industry special zone promotion plan. Despite expansion of facilities and demand base for horse-riding, those at the sites point out that government support at policy level has not come home to their hearts and criticism has been mounting that project efficiency remains low. Factors hindering the growth of horse industry, which have come to the fore, include inadequate supply of horse-riding facilities, limitation to expansion of demand for horse-riding, etc., due to excessive regulation. Advancement of horse industry requires wide-ranging deregulation on investment related to horse industry, including horse breeding and horse-riding facility installation, etc. Regulation which is deemed to be the biggest stumbling block to advancement of horse industry is related to the regulation requiring formation of farmland at horse-riding facilities in farming and fishery villages. Along with improvement in such regulations, horse-riding facilities without license should be legalized to promote qualitative growth of horse-riding industry. Moreover, efforts should be made to develop and deploy instructors with horse-riding license in order to develop horse-riding into a full-fledged leisure beyond simple experience auxiliary to tourism, thus ensuring that people can enjoy leisure style horse-riding regularly in safe and healthy manners. It would be necessary to add fresh momentum into efforts to turn Jeju-do into the hub of well-being leisure horse-riding by pooling our wisdom.

• Journal of the Korean Society of Environmental Restoration Technology
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• v.3 no.3
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• pp.45-76
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• 2000

The purposes of this study were to investigate and understand the present status of various types of "deserts", such as sand desert, gravel desert, rock desert, earth desert, salt desert, desert, rocky desert, gobi desert, sandy desert, clay desert, etc., and the general countermeasures for the combating "desertification" "desertization", and to develop the technologies on the revegetation and restoration for the combating desertification in China. The methods of this study were mainly composed of field surveys on the several experimental sites and research institutes related to combating desertification in China, and examinations on the various technologies for the combating desertification at the Daxing Experimental Station of Beijing Forestry University. The conclusion from this study may be summarized as follows; 1. Status and tendency of desertification in China : China is one of the countries seriously threatened by desertification. Desertification affected areas in China are mainly distributed in arid, semi-arid and dry sub-humid areas in China, covering the most regions of the Northeast China (eastern region of Inner-Mongolia), the northern part of the North China (middle and western region of Inner-Mongolia, Shaanxi, Ningsha, Gansu) and the western part of the Northwest China (Xinzang, Qinghai, Xizang). The total area affected by desertification in China is approximately 2.622 million $km^2$. It covers 27.3% of the total territory of China. Until recently, it is estimated that the annual spreading ratio of desertification in China is 2,460 $km^2$. Therefore, desertification is mostly serious problems facing to the Chinese people. 2. The causes and environmental effect of desertification : The desertification in China is mainly caused by compound factors, including natural condition and human activities. In China, the desertification is started by the decrease of precipitation, continuous dry and drought, strong wind, wind and water erosion, land degradation and loss of natural vegetation caused by climate variation, and accelerated by the human activities, such as over-cultivating, over-grazing, over-cutting of woods, irrational use of water resources. Because desertification has affected the geographical features, soil nutrients contents, salinity, vegetation coverage and the functions of ecosystem, the environmental deteriorations in the desertification affected areas are very seriously. 3. The fundamental strategies of combating desertification in China are the increase of education and awareness of people through various mass media, the revision of laws to guarantee operation of Desertification Combating Law and to improve many relating laws and regulations, the application of advanced technologies and training of experts, the establishment of discriminative policies, and increasing arrangement of budget-investment, and so on. China, as a signed country in UNCCD, has made efforts for the combating desertification. Korea is also signed country in UNCCD, so we should play an important role in the desertification combating projects of China for the northest asia and global environmental conservation as well as environmental conservation of Korea.

• International Commerce and Information Review
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• v.13 no.4
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• pp.177-201
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• 2011

Myanmar had fallen behind other southeast asian nations since Burmese way to Socialism settled down. However, historically second election in Myanmar hold in 2011 and dramatic changes in areas such as Special Economic Zone announcement, the very huge inflows of foreign direct investment in a year of 2009, the infrastructure building projects, a permit of the right to strike for Labour Organization in Myanmar etc. Particularly, Foreign investments and trade with neighbouring countries are actively growing and also with Korea. But investments of Korea in Myanmar relatively are not diversity, with limited sectors such as mining and sewing manufacturing. In this point of view, this paper is trying to make implications for strategies of entry and investments of Korea in Myanmar by using previous papers related to Myanmar economies, trade and foreign investments with updated statistical data. The implications for Korea is that recently Myanmar economy is in its early stages of development. Although it can occur huge demand of railway, road, communications and constructions related to social infrastructures essentially needed for development of a country, these sectors relatively need huge investments. On the other hands, textile and sewing industry relatively need smaller investments in which investors can utilize low labour cost and a position for export to third countries. But those firms which set up for those purpose in Myanmar might have trouble creating domestic markets in future. Moreover, due to demand which occur in the early stage of growth in Myanmar, trade volume tend to increase and trading is also possible to invest but Myanmar still have lots of problems with infrastructure such as road and logistics and we need to make pre-survey for the costs and benefits of our products Finally, Myanmar government is trying to promote and encourage some of industries such as export-oriented industry, import substitution industry and labour-intensive industry. It can also means they will accumulate capital which can be sources for Myanmar economic growth.