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The Exploration of New Business Areas in the Age of Economic Transformation : a Case of Korean 'Hidden Champions' (Small and Medium Niche Enterprises (경제구조 전환기에서 새로운 비즈니스 영역의 창출 : 강소기업의 성공함정과 신시장 개척)

  • Lee, Jangwoo
    • 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.

Applications of Radiocarbon Isotope Ratios in Environmental Sciences in South Korea (방사성탄소동위원소비 분석을 적용한 우리나라 환경과학 연구)

  • Neung-Hwan Oh;Ji-Yeon Cha
    • Korean Journal of Ecology and Environment
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    • v.56 no.4
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    • pp.281-302
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    • 2023
  • Carbon is not only an essential element for life but also a key player in climate change. The radiocarbon (14C) analysis using accelerator mass spectrometry (AMS) is a powerful tool not only to understand the carbon cycle but also to track pollutants derived from fossil carbon, which have a distinct radiocarbon isotope ratio (Δ14C). Many studies have reported Δ14C of carbon compounds in streams, rivers, rain, snow, throughfall, fine particulate matter (PM2.5), and wastewater treatment plant effluents in South Korea, which are reviewed in this manuscript. In summary, (1) stream and river carbon in South Korea are largely derived from the chemical weathering of soils and rocks, and organic compounds in plants and soils, strongly influenced by precipitation, wastewater treatment effluents, agricultural land use, soil water, and groundwater. (2) Unprecedentedly high Δ14C of precipitation during winter has been reported, which can directly and indirectly influence stream and river carbon. Although we cannot exclude the possibility of local contamination sources of high Δ14C, the results suggest that stream dissolved organic carbon could be older than previously thought, warranting future studies. (3) The 14C analysis has also been applied to quantify the sources of forest throughfall and PM2.5, providing new insights. The 14C data on a variety of ecosystems will be valuable not only to track the pollutants derived from fossil carbon but also to improve our understanding of climate change and provide solutions.

Factors influencing health and quality of life among allergy and asthma patients: With specific focus on self-efficacy, social support and health management (건강과 삶의 질에 영향을 주는 요인에 대한 분석: 자기효능감, 사회적 지원 및 질병관리를 중심으로)

  • Uichol Kim ;Chun-soo Hong ;Jeung-Gweon Lee ;Young-Shin Park
    • Korean Journal of Culture and Social Issue
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    • v.11 no.2
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    • pp.143-181
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    • 2005
  • This article examines factors that influence health and quality of life. In addition to the symptomatology and physiological functioning, the influence of the psychological functioning and interpersonal relationship on the overall health and quality of life are also investigated. Using a case-study approach, a total of 70 patients suffering from allergy or asthma were interviewed using a semi-structured questionnaire developed by the present authors. It assessed the following six areas: Cause and onset of illness, psychological functioning, health management, trust, social support received and overall health and quality of life. Based on the transactional model (Bandura, 1997; Kim & Park, 2005), the results of the case studies have been integrated and divided into three aspects: (1) Cause and onset of illness that includes physiological and environment factors; (2) mediating influences that includes psychological functioning, health management, interpersonal relationship and social support received; and (3) outcome factor that includes symptomatology, health and quality of life. The psychological functioning includes self-efficacy (self-regulated efficacy, efficacy for enlisting social support, efficacy for managing the environment, and efficacy for overcoming difficulties), positive outlook, life goals, experience of stress, and proxy control. Interpersonal relationship includes trust of family members and the physician. Health management includes receiving proper health assessment, following the advice and prescription given by the physicians, control of the environment and maintaining a healthy lifestyle. The results indicate that physiological, psychological, relational and environment factors interact with each other and affect individual's overall health and quality of life. Self-efficacy, social support received from family members, trust of physicians, and the health care system are key factors promoting healthy lifestyle and quality of life. The results indicate the need for further interdisciplinary, indigenous and cultural psychological research.

Elementary School Teachers' Educational Experiences, Readiness, and Needs for Science Education That Addresses the Risks Posed by Science and Technology (과학기술로 인해 발생할 수 있는 위험을 다루는 과학교육에 관한 초등교사의 교육 경험과 교육 준비도 및 요구도)

  • Kim, Jinhee;Na, Jiyeon
    • Journal of Korean Elementary Science Education
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    • v.42 no.4
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    • pp.523-537
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    • 2023
  • This study encompassed the responses of 284 elementary school teachers, focusing on their teaching experiences, readiness, and needs for science education concerning the risk posed by science and technology. The key findings are summarized as follows. First, a significant portion of teachers lacked prior experience in addressing risks associated with science and technology within their science education practices. Second, a greater number of teachers were aware of the inclusion of risk-related content in the 2022 revised science curriculum's achievement standards than those who were not. Third, in terms of teachers' understanding of risk perception, risk assessment, and risk management, they demonstrated a relatively high level of understanding of risk perception but a lower level of understanding of risk assessment. Fourth, most teachers had not undergone any formal education or training related to risk. Fifth, among the 10 objectives of risk education, teachers displayed the highest competence in teaching "information use" and "action skills," while their lowest competence was observed in "interpreting probabilities" and "evaluating risk assessment." Sixth, a majority of teachers believe that it is important to teach about the risks posed by science and technology in school science classes, with "action skills," "information use," and "decision-making skills" being considered the most important and "action skills," "information use," and "influence of mass media" being regarded as the most urgent. However, teachers anticipated difficulties in addressing risk in school science classes, including a lack of relevant educational materials, a lack of understanding of teaching theories related to risk education, and the relationship between science curriculum content and achievement standards. Seventh, as a result of calculating the educational needs for each of the 10 goals of risk education, "influence of risk perception," "decision-making skills," "action skills," and "evaluate risk assessment" were the priority needs of elementary school teachers.

Anti-tumor and Anti-inflammatory Effects of Ecklonia cava in CT26 Tumor-bearing BALB/cKorl Syngeneic Mice (CT26 고형암을 내포하는 BALB/cKorl Syngeneic 마우스에서 Ecklonia cava의 항암효과 및 항염증효과)

  • Yu Jeong Roh;Ji Eun Kim;You Jeong Jin;Ayun Seol;Hee Jin Song;Tae Ryeol Kim;Kyeong Seon Min;Eun Seo Park;Ki Ho Park;Dae Youn Hwang
    • Journal of Life Science
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    • v.33 no.11
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    • pp.887-896
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    • 2023
  • The inflammatory response have been considered as one of important targets for cancer treatment because they play a key role during all steps of tumor development including initiation, promotion, malignant conversion and progression. To investigate the anti-inflammatory response during anti-tumor activity of an aqueous extracts of Ecklonia cava (AEC), alterations on the distribution of mast cells and the expression of inducible nitric oxide synthase (iNOS) and cyclooxygenase-2 (COX-2), nuclear factor (NF)-κB, inflammasome compositional protein and inflammatory cytokines were examined in CT26 colon tumor-bearing BALB/cKorl syngeneic mice after administrating AEC for five weeks. After treatment of AEC, total weight of tumor and necrotic region of tumor section were significantly decreased compared to vehicle treated group. The number of infiltered mast cells was higher in AEC treated group than vehicle treated group, while the expression levels of COX-2 and iNOS were decreased in AEC treated group. Also, similar decrease pattern were detected in the expression levels of NF-κB, NLR family pyrin domain containing 3 (NLRP3), apoptosis-associated speck-like protein containing a caspase recruitment domain (ASC) and caspase-1 (Cas-1) after AEC treatment although the decrease rate was varied. Furthermore, the mRNA expressions of three inflammatory cytokines including tumor necrosis factor-α (TNF-α), interleukin-1α (IL-1α) and interleukin-6 (IL-6) were remarkably decreased in AEC treated group compared to vehicle treated group. These results suggest that inhibition of inflammatory response may be tightly associated with anti-tumor activity of AEC in CT26 colon tumor-bearing BALB/cKorl syngeneic mice.

Analyze Technologies and Trends in Commercialized Radiology Artificial Intelligence Medical Device (상용화된 영상의학 인공지능 의료기기의 기술 및 동향 분석)

  • Chang-Hwa Han
    • Journal of the Korean Society of Radiology
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    • v.17 no.6
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    • pp.881-887
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    • 2023
  • This study aims to analyze the development and current trends of AI-based medical imaging devices commercialized in South Korea. As of September 30, 2023, there were a total of 186 AI-based medical devices licensed, certified, and reported to the Korean Ministry of Food and Drug Safety, of which 138 were related to imaging. The study comprehensively examined the yearly approval trends, equipment types, application areas, and key functions from 2018 to 2023. The study found that the number of AI medical devices started from four products in 2018 and grew steadily until 2023, with a sharp increase after 2020. This can be attributed to the interaction between the advancement of AI technology and the increasing demand in the medical field. By equipment, AI medical devices were developed in the order of CT, X-ray, and MR, which reflects the characteristics and clinical importance of the images of each equipment. This study found that the development of AI medical devices for specific areas such as the thorax, cranial nerves, and musculoskeletal system is active, and the main functions are medical image analysis, detection and diagnosis assistance, and image transmission. These results suggest that AI's pattern recognition and data analysis capabilities are playing an important role in the medical imaging field. In addition, this study examined the number of Korean products that have received international certifications, particularly the US FDA and European CE. The results show that many products have been certified by both organizations, indicating that Korean AI medical devices are in line with international standards and are competitive in the global market. By analyzing the impact of AI technology on medical imaging and its potential for development, this study provides important implications for future research and development directions. However, challenges such as regulatory aspects, data quality and accessibility, and clinical validity are also pointed out, requiring continued research and improvement on these issues.

Implications of Shared Growth of Public Enterprises: Korea Hydro & Nuclear Power Case (공공기관의 동반성장 현황과 시사점: 한국수력원자력(주) 사례를 중심으로)

  • Jeon, Young-tae;Hwang, Seung-ho;Kim, Young-woo
    • Journal of Venture Innovation
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    • v.4 no.2
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    • pp.57-75
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    • 2021
  • KHNP's shared growth activities are based on such public good. Reflecting the characteristics of a comprehensive energy company, a high-tech plant company, and a leading company for shared growth, it presents strategies to link performance indicators with its partners and implements various measures. Key tasks include maintaining the nuclear power plant ecosystem, improving management conditions for partner companies, strengthening future capabilities of the nuclear power plant industry, and supporting a virtuous cycle of regional development. This is made by reflecting the specificity of nuclear power generation as much as possible, and is designed to reflect the spirit of shared growth through win-win and cooperation in order to solve the challenges of the times while considering the characteristics as much as possible as possible. KHNP's shared growth activities can be said to be the practice of the spirit of the times(Zeitgeist). The spirit of the times given to us now is that companies should strive for sustainable growth as social air. KHNP has been striving to establish a creative and leading shared growth ecosystem. In particular, considering the positions of partners, it has been promoting continuous system improvement to establish a fair trade culture and deregulation. In addition, it has continuously discovered and implemented new customized support projects that are effective for partner companies and local communities. To this end, efforts have been made for shared growth through organic collaboration with partners and stakeholders. As detailed tasks, it also presents fostering new markets and new industries, maintaining supply chains, and emergency support for COVID-19 to maintain the nuclear power plant ecosystem. This reflects the social public good after the recent COVID-19 incident. In order to improve the management conditions of partner companies, productivity improvement, human resources enhancement, and customized funding are being implemented as detailed tasks. This is a plan to practice win-win growth with partner companies emphasized by corporate social responsibility (CSR) and ISO 26000 while being faithful to the main job. Until now, ESG management has focused on the environmental field to cope with the catastrophe of climate change. According to KHNP is presenting a public enterprise-type model in the environmental field. In order to strengthen the future capabilities of the nuclear power plant industry as a state-of-the-art energy company, it has set tasks to attract investment from partner companies, localization and new technologies R&D, and commercialization of innovative technologies. This is an effort to develop advanced nuclear power plant technology as a concrete practical measure of eco-friendly development. Meanwhile, the EU is preparing a social taxonomy to focus on the social sector, another important axis in ESG management, following the Green Taxonomy, a classification system in the environmental sector. KHNP includes enhancing local vitality, increasing income for the underprivileged, and overcoming the COVID-19 crisis as part of its shared growth activities, which is a representative social taxonomy field. The draft social taxonomy being promoted by the EU was announced in July, and the contents promoted by KHNP are consistent with this, leading the practice of social taxonomy

Effects of Startup Motivation, Startup Competence, and Startup Support Policy on Startup Satisfaction in Early Startup Companies : Moderating Effect of Social Support (창업동기, 창업역량 및 창업지원 정책이 창업 초기기업의 창업 만족도에 미치는 영향 : 사회적지지의 조절효과)

  • Kang, Young-chul;Ha, Kyu-soo
    • Journal of Venture Innovation
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    • v.5 no.4
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    • pp.1-21
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    • 2022
  • Entrepreneurship has been emphasized in social and national importance. However, survival rate of domestic startups is relatively low. Therefore, it is urgent to come up with a plan to increase the survival rate by improving the satisfaction level of early start-ups. In this study, we investigated the effect of start-up motivation, start-up competence, and start-up support policies of early start-up companies on start-up satisfaction and the moderating effect of social support. Startup motivation were divided into economic motivation and self-actualization motivation in detail. Start-up competence was divided into experience competency and marketing competency in detail. The start-up support policy was divided into start-up fund support and start-up consulting support. An empirical analysis was conducted by receiving online and offline questionnaires from 250 managers of early start-up companies within 7 years of founding. As a result, economic motivation, self-actualization motivation, experience competency, marketing competency, and start-up fund support had a significant positive (+) effect on start-up satisfaction. However, start-up consulting support did not have a significant effect. In addition, the size of the influence on startup Satisfaction was in the order of self-actualization motivation, experience competency, marketing competency, startup fund support, and economic motivation. The moderating effect of social support was found in economic motivation, self-actualization motivation, and experience competency. However, the moderating effect of marketing competency, start-up fund support, and start-up consulting support was not tested. Through the research results, the academic implications that self-actualization motivation and experience competency are key factors in enhancing start-up satisfaction were suggested. In addition, practical implications were suggested that it is necessary to improve the effectiveness of entrepreneurship education programs and entrepreneurship consulting support systems that can maximize the self-realization and experience capabilities of early entrepreneurs.

The Study on Improvement of the Digital Transformation of Small and Medium-Sized Manufacturing Industries through Foreign Countries (주요국 정책을 통한 중소 제조기업의 디지털 전환 추진 방향 모색)

  • An, Jung-in
    • Journal of Venture Innovation
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    • v.5 no.4
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    • pp.109-115
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    • 2022
  • As the 4th industrial revolution progresses, foreign countries are promoting smart manufacturing innovation through digital transformation as a priority task early on to secure a competitive edge in the manufacturing industry. In response, the Korean government is also promoting a policy to enhance the competitiveness of small and medium-sized manufacturing companies by promoting digital transformation in the corporate sector to meet the global trend of the 4th industrial revolution era. Manufacturing powerhouses such as Germany and Japan see manufacturing as a key sector in digital transformation and are leading related policies, while emerging countries such as China are also promoting manufacturing innovation strategies such as building digital infrastructure and creating a digital innovation ecosystem. Korea is promoting the 'Korean-style smart factory dissemination and expansion strategy' by transforming Germany's manufacturing innovation strategy for smart factory supply to suit the domestic situation. However, the policy to supply smart factories so far has been conducted with support from individual companies under the leadership of the government, and most of the smart factories are at the basic level, and it is evaluated that there are limitations such as the lack of manpower to operate smart factories. In addition, while the current policy focuses on expanding the supply of smart factories in SMEs, it is necessary to establish a smart manufacturing system through linkages between large and small businesses in order to achieve the original goal of establishing a smart manufacturing system. Therefore, it can be said that from the standpoint of small and medium-sized enterprises (SMEs), who are consumers of smart factories, it can be said that the digital transformation policy can achieve the expected results only when appropriate incentives are provided for the introduction of smart factories in a situation where management resources such as funds, technology, and human resources are lacking. In addition, it is judged that the uncertainty of the performance of digital investment always exists, and as long as large and small companies are maintained as an ecosystem of delivery and subcontracting, there is very little incentive for small and medium-sized manufacturing companies to voluntarily invest in or advance digital transformation. Therefore, the digital transformation policy of small and medium-sized manufacturing companies in the future has practical significance in that it suggests that there is a need to seek ways to attract SMEs' digital-related voluntary investment.

The Impact of Corporate Culture on Job Stress : A Mediating Variable of Overtime and Organizational Trust (기업문화가 직무스트레스에 미치는 영향 : 주당 초과 근로시간과 조직신뢰의 매개변수)

  • Jeon, Young-jun
    • Journal of Venture Innovation
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    • v.6 no.3
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    • pp.149-164
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    • 2023
  • Today, when innovation and creativity become increasingly important, management of human resources is a key factor for corporate performance and competitive advantage. Corporate are implementing and introducing various types of support methods for members to achieve goals and improve organizational performance. Organizational culture and organizational trust affect the cognitive and emotional state of members. Furthermore, it can bring about changes in organizational performance such as job stress and job satisfaction. From an institutional point of view, work-life balance is also a major factor affecting organizational performance. The imbalance between work and life leads to a decline in organizational performance, such as decreased morale and dissatisfaction with work. In relation to work-life balance, the low birth rate problem intensified and the importance began to emerge. Therefore, the government has implemented various policy support for workers' work-life balance, and the "52-hour workweek" is a representative example. This study analyzed the effect of organizational culture applying the competitive value model on workers' job stress. In addition, the mediating effects of overtime work per week and organizational trust were analyzed. Job stress corresponds to a prerequisite stage that affects job commitment, job satisfaction, and turnover intention. However, research measuring job stress by organizational performance is insufficient. In addition, there are few studies analyzing the relationship between overtime and organizational performance. Considering this, it is necessary to understand the influence relationship. The results of the study are as follows. First, a hierarchical culture increases the job stress of workers. On the other hand, innovation-oriented, relationship-oriented, and competition-oriented corporate culture reduce job stress. Second, a hierarchical culture has reduced trust in the organization, and other organizational cultures have increased trust in the organization. Third, relationship-oriented and competition-oriented organizational culture reduced overtime. Innovation-oriented, hierarchical-oriented culture increased overtime Fourth, organizational trust and overtime have the effect of mediating organizational culture and job stress. Based on these analysis results, this study presented academic and political implications.