• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.4
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• pp.45-70
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• 2009

This article investigates which types of the strategies announced by the listed firms contribute to enhancing the long-term performance of the companies. Since 2002, Korean Exchange adopted the "faire disclosure policy" which mandates that all publicly traded companies must disclose material information to all investors at the same time. Thanks to the policy, Korean investors can, now, easily access the board's decision on management strategies on the same day the decision is made. If the companies trustfully carry out their announced strategies, we can decide which types of strategies actually enhance or deteriorate the long-term performance, simply by comparing the announced strategies and the firm's performance. The sample companies are confined to 60 firms that became listed in the KOSDAQ market through back-door listing from 2003 to 2005. Using only the newly listed companies, we can avoid the interference on the long-term performance of the strategies pursued before the event date. This often holds true, for many companies radically modify their strategies after the listing. Furthermore, the back-door listing companies serve our purpose better than IPO companies do, because the former tend to have a variety of announcement within a given period of time beginning the listing date. Using these sample companies, this article analyzes the effect on one year buy-and-hold returns and abnormal buy-and-hold returns after the listing of the various types of strategies announced during the same period of time. The results show that those evidences of restructuring such as 'reduction of capital' and 'resignation of incumbent board members', actually contribute to the increase in adjusted long-term stock returns. Those strategies which can be view as evidence of new investment such as 'increase in tangible assets', 'acquisition of other companies', do also helps the stockholders better off. On the contrary, 'increase in bank loans', 'changes of CEO' and 'merger' deteriorate the equity value. The last findings let us to presume that the back-door listing companies appear to use the bank loans for value-reducing activities; the change in CEO is not a sign of restructuring, but rather a sign of failure of the restructuring; another merger carried out after back-door listing itself is also value-reducing activity. This article's findings on reduction of capital, merger and bank loans oppose the results of the former empirical studies which analyze only the short-term effect on stock price. Therefore, more long-term performance studies on public disclosures are in order.

• The Journal of Industrial Distribution & Business
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• v.2 no.1
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• pp.5-15
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• 2011

Prior to the introduction of the CRM, we need to analyze the characteristics and the situations of the company, and should establish a clear vision of the CRM. And each company should identify elements and technologies for introducing the most suitable CRM for them, and optimize them, with long-term perspective. In addition, it requires the implementation strategy which integrates the existing company's routine marketing activities with the concept of the CRM. According to the implementation strategy, the company should improve the business process which is the most effective in investment step by step, and the information system strategy, which develops system investment gradually, should harmonize with it. First, we recognized that raising the company value is important by maximizing customer lifetime value (LTV) by understanding customer needs, and achieving the company's goal through customer satisfaction. Second, we understood that adopting the CRM should be accompanied by changes in the structure, business process and customer contact channels, and it can be successfully integrated with business when it gets proper understandings and attentions of the management. Third, the reality is that there are few cases of successful implementation of domestic companies, and some companies that successfully implement the system mean nothing but implement the solution for developing the CRM. Therefore, it needs to be observed for the long haul, and it seems that we need to approach more systematically to implementation cases for each industry about implementation of the CRM. Fourth, the CRM is no longer the preserve of major companies, and it is the time that medium and small sized enterprises also need it. Taking lesson from Switzerland's small size store merchants who successfully adopt right size of the CRM for their business, for domestic medium and small sized enterprises, the necessity to develop business through developing the CRM models which fit their situations and maintaining relationships with customers has been grown. Fifth, for adopting the CRM business processes, changing or converting the CRM system to the model which fits the company's situation is important rather than applying the advanced company's CRM system model. In other words, the CRM solution which can maximize their own strength by developing the CRM program that makes the most of features and characteristics of the company should be adopted.

• Journal of Nutrition and Health
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• v.47 no.4
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• pp.221-228
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• 2014

Purpose: Citron seed oil (CSO) has been reported to have high antioxidant activity. However, the composition and other biologically activities of CSO have not been reported. In this study, we confirmed the fatty acid composition of CSO, which may be beneficial to vascular disease and obesity. Methods: We investigated the oil composition of CSO using gas chromatography coupled with mass spectrometry (GC-MS) analysis, and cytotoxicity was confirmed by Cell Counting Kit-8 (CCK-8) assay. Nitric oxide (NO) production in human umbilical vein endothelial cells (HUVECs) was measured using Griess reagent, and lipid accumulation and leptin secretion in 3T3-L1 cells were measured by Oil-Red O staining and commercial ELISA kit, respectively. Results: GC-MS analysis indicated that CSO contains several components, including linoleic acid, oleic acid, palmitic acid, stearic acid, linolenic acid, palmitoleic acid, and arachidic acid. In physiological activity analysis, CSO did not induce cytotoxic effects in HUVECs and 3T3-L1 cells. Further, CSO significantly induced nitric oxide and leptin secretion as well as inhibited lipid accumulation. Conclusion: CSO increased NO release, inhibited lipid accumulation, and induced leptin secretion, suggesting it may be useful for the management of vessels and weight gain. Although further studies are required to investigate the safety and mechanism of action of CSO, our results show that the composition and physiological activity of CSO are sufficient for its use as functional edible oil.

• Journal of Korean Society of Forest Science
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• v.82 no.3
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• pp.235-245
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• 1993

This study was carried out to understand the stand structure based on the compositional characteristics of natural deciduous forest dominated by Quercus species, which will provide with fundamental ecological and silvicultural information for effective forest management. Of two tracts selected from the Seoul National University Research Forests, one is located in Kwangju-Gun Kyunggi-Do, and the other in Kwangyang-Gun Chollanam-Do. Point-quarter sampling method w-as employed to survey woody vegetation confined to larger than 6cm in DBH. The numbers of sample points were 152 and 187, in Kwangju-Gun and Kwangyang-Gun, respectively. Comparative analysis for two forest tracts was made as follows ; 1) species composition by calculation of importance values ; 2) number of stems per hectare for major tree species ; 3) species diversity for the forests in two locations ; 4) inter-species association based on $X^2$ test. The relative dominate of Quercus speices showed 88% at Kwangju-Gun, Kyunggi-Do and 50% at Kwangy-ang-Gun. Chollanam-Do. Such high dominance occurred due to high importance values of Quercus variahilis and Q. mortgolica in both locations. Quercus serrata showed low value at Kwangju-Gun. Kyunggi-Do whereas Q. acutissirna, Q. dentata and Q. aliena did none at Kwangyang-Gun. Chollanam-Do. The species diversity and evenness in oak communities exhibited 0.82 and 0.61, respectively at Kwangju-Gun. Kyunggi-Do, while those did 1.09 and 0.73 at Kwangyang-Gun, Chollanam-Do. Therefore, it was considered that Ku-angju-Gun region was disturbed severely by human activities but Kwangyang-Gun region eras less disturbed. Frequent appearance of Carpinus and Acer species indicates increase in diversities and better development of succession at Kwangyang-Gun region.

• Journal of the Korean Society of Food Science and Nutrition
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• v.35 no.2
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• pp.171-176
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• 2006

The effect of storage temperature on the quality and antioxidative activity Whangseoke sauce was studied over a period of 240 days. Fermented Whangseoke with $25\%$ salt were stored at $25^{\circ}C$. The quality change and antioxidant activity of Whangseoke in linoleic acid emulsion was evaluated with various parameters including acids values, peroxide values, TBA values, reducing sugar, brown color intensity, electron donating ability and reducing power at various time intervals for 240 days of storage. In general, it was observed, in all sample, that peroxide values, brown color intensity, electron donating ability and reducing power gradually increased, while reducing sugar decreased during storage at $25^{\circ}C$. The antioxidative activities of fermented Whangseoke were determined on tile linoleic acid emulsion system. The results showed that Whangseoke had antioxidant activity. These results suggest that antioxidant activity of Whangseoke seemed to influence by Maillard reaction products during the storage periods.

• The Korean Journal of Pesticide Science
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• v.10 no.3
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• pp.172-182
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• 2006

This study was designed to assess molinate fate in the lysimeter by measuring the total radioactivity in the leachate, evolved $^{14}CO_2$, and $^{14}C$-residues in soil and rice plant. The amounts of applied $^{14}C$ in the leachate from the lysimeter for 20 weeks were 1.05% in 2.31 pore volume (217,465 mL) at the first and 0.34% in the second year, respectively. The amount of $^{14}CO_2$ evolved from the lysimeter accounted for 6.47% and 0.03% of applied $^{14}C$ in the first and second year. The $^{14}C$-activities in the soil layer of the lysimeter were distributed 18.0% (1st) and 13.3%(2nd) in the depth of 0 to 10 cm, 4.3 (1st) and 1.1% (2nd) in the depth of 10 to 20 cm. Most of the applied $^{14}C$ was detected in the top 20 cm soil layer. Total $^{14}C$ in rice plants grown at lysimeter were detected 11.46% of applied $^{14}C$. 11.11% in straw, 0.24% in brown rice grain, 0.08% in chaff and 0.03% in ears were distributed in the first year. Consequently, environmental fate of molinate using lysimeter simulating a paddy rice field were investigated 25.24% in soil, 11.64% in rice plant, 1.05% in leachate, 6.74% in evolved $^{14}CO_2$ and 0.02% in volatilized organic chemicals in the first year.

• Journal of Korea Technology Innovation Society
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• v.20 no.2
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• pp.334-367
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• 2017

The ICT industry has been the main driver of Korea's economy with international competitiveness and is expected to be the growth engine that will revitalize the currently depressed economy. A broad range of different perspectives and opinions on the industry exist in Korea and overseas. Some of these are stereotypes, not all of which are based on objective evidence. Stereotypes refer to widely-held fixed opinions on a specific group and do not necessarily have negative connotations. However, they should not be viewed lightly because they can substantially affect decision-making process. In this regard, this study sought to review the stereotypes of ICT industry and identify objective and relative stereotypes. In the study, a decision-tree analysis was conducted on a survey result of 3,300 small and medium-sized enterprises (SMEs) in order to identify Korean ICT companies' characteristics that distinguish them from other technology companies. The decision-tree analysis, a data mining process based on machine learning, took a total of 291 variables into account in 10 subjects such as: corporate business in general, technology development activities as well as organization and people in technology development. Identifying the variables that distinguish ICT companies from other technology companies with the decision-tree analysis, the study then came up with a list of objective stereotypes of ICT companies. The findings from the stereotypes of Korean ICT companies are as follows. First, the companies are in need of technology policies that help R&D planning and market penetration. Second, policies must better support the companies working to sell new products or explore new business. Third, the companies need policies that support secure protection of development outcomes and proper management of IP rights. Fourth, the administrative procedures related to governmental support for ICT companies' R&D projects must be simplified. It is hoped that the outcome of this study will provide meaningful guidance in establishment, implementation and evaluation of technology policies for ICT SMEs, particularly to policymakers or researchers in relevant government agencies who determine R&D policies for ICT SMEs.

• Korean Security Journal
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• no.26
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• pp.29-58
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• 2011

Since 11 September 2001, warnings of risk in the nexus of terrorism and nuclear weapons and materials which poses one of the gravest threats to the international community have continued. The purpose of this study is to analyze the aim, principles, characteristics, activities, impediments to progress and developmental recommendation of the Global Initiative to Combat Nuclear Terrorism(GICNT). In addition, it suggests implications of the GICNT for the ROK policy. International community will need a comprehensive strategy with four key elements to accomplish the GICNT: (1) securing and reducing nuclear stockpiles around the world, (2) countering terrorist nuclear plots, (3) preventing and deterring state transfers of nuclear weapons or materials to terrorists, (4) interdicting nuclear smuggling. Moreover, other steps should be taken to build the needed sense of urgency, including: (1) analysis and assessment through joint threat briefing for real nuclear threat possibility, (2) nuclear terrorism exercises, (3) fast-paced nuclear security reviews, (4) realistic testing of nuclear security performance to defeat insider or outsider threats, (5) preparing shared database of threats and incidents. As for the ROK, main concerns are transfer of North Korea's nuclear weapons, materials and technology to international terror groups and attacks on nuclear facilities and uses of nuclear devices. As the 5th nuclear country, the ROK has strengthened systems of physical protection and nuclear counterterrorism based on the international conventions. In order to comprehensive and effective prevention of nuclear terrorism, the ROK has to strengthen nuclear detection instruments and mobile radiation monitoring system in airports, ports, road networks, and national critical infrastructures. Furthermore, it has to draw up effective crisis management manual and prepare nuclear counterterrorism exercises and operational postures. The fundamental key to the prevention, detection and response to nuclear terrorism which leads to catastrophic impacts is to establish not only domestic law, institution and systems, but also strengthen international cooperation.

• Korean Journal of Agricultural and Forest Meteorology
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• v.9 no.1
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• pp.1-16
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• 2007

The use of information on natural resources is indispensable to most agricultural activities to avoid disasters, to improve input efficiency, and to increase lam income. Most information is prepared and managed at a spatial scale called the "Hydrologic Unit" (HU), which means watershed or small river basin, because virtually every environmental problem can be handled best within a single HU. South Korea consists of 840 such watersheds and, while other watershed-specific information is routinely managed by government organizations, there are none responsible for agricultural weather and climate. A joint research team of Kyung Hee University and the Agriculture, forestry and Fisheries Information Service has begun a 4-year project funded by the Ministry of Agriculture and forestry to establish a watershed-specific agricultural weather information service based on "high definition" digital climate maps (HD-DCMs) utilizing the state of the art geospatial climatological technology. For example, a daily minimum temperature model simulating the thermodynamic nature of cold air with the aid of raster GIS and microwave temperature profiling will quantify effects of cold air drainage on local temperature. By using these techniques and 30-year (1971-2000) synoptic observations, gridded climate data including temperature, solar irradiance, and precipitation will be prepared for each watershed at a 30m spacing. Together with the climatological normals, there will be 3-hourly near-real time meterological mapping using the Korea Meteorological Administration's digital forecasting products which are prepared at a 5 km by 5 km resolution. Resulting HD-DCM database and operational technology will be transferred to local governments, and they will be responsible for routine operations and applications in their region. This paper describes the project in detail and demonstrates some of the interim results.

• Journal of Korea Port Economic Association
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• v.32 no.4
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• pp.149-163
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• 2016

Seafarers are an essential resource in maritime industries, which provide navigation skills, vessel maneuvering skills and fishing skills in the fishery industry. They also work as a driving force in pilotage, port operation, vessel traffic service, and marine safety. Other areas in maritime services, which rely on seafarer include safety management of ships, supervisory activities, and maritime accident assessment. In these ways, Korean seafarers have contributed to the growth of Korean economy. However, there have been issues of high separation rate, shortage of supply, multi-nationality, multiplicity of culture caused by employment of foreign seafarers, and aging. The present paper finds that maritime officers and fishery officers demonstrate differences in the statistics of on-board job taking and separation: the separation rate of fishery officers is higher than that of maritime officers. The existing data and statistics by the Korea Seafarer's Welfare & Employment Center could be improved by changing its structure from time series to panel data. The Korea Seafarer's Welfare & Employment Center is the ideal institution for collecting the panel data, as it has already accumulated and published relevant statistics regarding seafarer. The basic design method of the panel data is to adopt and improve it by including the information on ratings of maritime and fishery industries, ranks in a ship, personal information, family life, and career goal. Panel data are useful in short- and long-term forecasts of supply of Korean seafarers; demand evaluation of education, training, and reeducation of the seafarers; demographical dynamic analysis on Korean seafarers; inducement policy of long-term on board job taking in harmony with man-power demands in marine industries such as pilotage service; implementation of job attractiveness policy on Korean seafarers; and employment stabilization of Korean seafarers.