• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.6
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• pp.103-117
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• 2019

Under the uncertainties and the consequent turmoils of the IMF financial crisis in Korea, Hyunsung Techno was founded in 1997 on the basis of automobile press molding which is critical for the quality of automobile. Ever since, Hyunsung Techno has grown rapidly based on the domestic market; however, gradually, it had faced a stalemate in terms of the saturation, on the supply side and the growth limit, on the demand side, of the domestic molding market. Accordingly, Hyunsung pushed for a strategy to localize overseas markets and a new acquisition strategy instead of resting on the domestic mold industry's growth, and the success of these strategies enabled it to leap forward into a global company with five companies including affiliates and 70 billion won in sales. The main reason why Hyunsung Techno evolved from a small and medium-sized manufacturing company into a global businesses is due to the success of Boa Constrictor M&A strategy. Its acquisition strategy is not just a successful case of any acquisition, but a rare, maybe the first domestic case of a successful acquisition of a primary supplier by a secondary supplier. Through the success of this strategy, Hyunsung Techno has achieved a continuous growth of businesses, an increase in sales volume, and expansion into new businesses. And on top of that, this achievements is leading it to be a global conglomerate In this study, Hyunsung Techno's success strategy, which is transformed from a small domestic manufacturing company into a global enterprise, was analyzed in detail with its development stages divided into start-up, overseas expansion, acquisitions, and business diversification. Eventually, this case study is meant to offer strategic implications for other small and medium-sized businesses under the current, gloomy economy of low or zero growth of today.

• 한국벤처창업학회:학술대회논문집
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• 2008.11a
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• pp.135-168
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• 2008

The Korean semiconductor industry has made a great contribution to growth of Korean economy for the last decades by maintaining a top position in terms of Korean total annual export volume. However, the advanced semiconductor equipment and materials that are used for the production of semiconductor devices still depend on the suppliers from Europe, Japan, and America who have an influential position in the Korean semiconductor industry. The objective of this study is to empirically investigate the attributes determining the extent of autonomy in decision making for the Korean subsidiaries of multinational corporations in the semiconductor industry. This study found there were differences in the extent of autonomy in decision making in terms of the global strategies the multinational corporations pursue. This study surveyed employees at the Korean subsidiaries and joint venture companies of semiconductor multinational corporations and collected 726 survey questionnaires. Several statistical analyses including frequency analysis, reliability analysis, factor analysis, multiple regression analysis and ANOVA were performed using the collected sample data. Based on the analyses, this study found as follow: Firstly, from the factor analysis, this study found Korean subsidiaries faced three sources of uncertainties stemmed from political conditions, competent conditions, demand and supply conditions. The internal resources were characterized by the independencies of production capability, financial capability, marketing capability and human resource management capability. The operational performance was determined by total revenue, net profit and market share growth. Secondly, it was found the uncertainties from political condition and competent condition and the independencies of financial capability and marketing capability partially influenced the extent of autonomy in decision making. The independencies of production capability and human resource management capability significantly influenced the autonomy of decision making in the most areas. It was also found an increase of total revenue, net profit and market share growth partially affected the extent of autonomy in decision making of the Korean subsidiaries. Finally, it was found that the polycentrism of global management by multinational corporations seemed to bring a higher extent of autonomy in decision making than ethnocentrism or geocentrism of global management. Based on the results, this study provided managerial implications regarding the extent of autonomy in decision making for Korean subsidiaries of multinational corporations in order to help management to enhance their business capabilities.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.4
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• pp.1-15
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• 2016

Startups in Korea are experiencing for themselves the laws of survival through competition in the local and international market, and are performing active business movements based on these. Korea's economic growth rate is 2.6% due to the slump in the domestic demand and reduced exports brought by the MERSC incident in 2015. The Korea Development Institute has estimated the economic growth rate in 2016 to be around 3.0%. South Korea's economy is facing the crisis of low-growth solidification due to the decrease in economic growth, and it is forecasted that growth without employment and polarization will worsen. Startups in the high-tech industrial generation of a particular field wherein the market environment is rapidly changing must maintain a competitive advantage with the capabilities and functions exclusive to them. It is very important that they maintain a competitive edge by utilizing the capabilities exclusive to startup companies. Likewise, the accumulation of resources is also crucial in determining the success of a startup business. In a poor local startup ecosystem, majority of the startup companies are performing their business activities while striving for survival, rather than success. About 80% are struggling to survive and are failing to overcome the "Death Valley" faced 3-5 years after establishing the company. Since majority of the startups fail to achieve results during the initial stages of foundation, the importance of research on business activities and achievement during the early stages of establishment is being raised. In accordance to this, this research has performed an actual analysis on how the activities of startups during their preparation phase and early stages affect their achievements. A survey was done on the CEOs or executives (people in a position to make decisions) of local small and medium-sized enterprises that are considered start-ups, and 203 valid data were collected and analyzed. Results showed that the discoveries and utilized activities necessary for the businesses of startups have a significant impact on their achievement through the entrepreneur resources and external partners' cooperation; additionally, the related implications were discussed.

• Environmental and Resource Economics Review
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• v.23 no.4
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• pp.719-746
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• 2014

This study attempts to estimate the value of the water quality improvement by deriving the equilibrium price of the water pollutant emission permit for the imaginary water pollutant emission trading market. It is reasonable to say that there is already an implicit social agreement for the unit value of water pollutant, when the government set the Total Water Pollutant Loading System for the major river basin as a part of the Comprehensive Measures for Water Management, particularly for the Nakdong River Basin. Therefore, we can derive the unit value of water pollutant emission, which is already implied in the pollution allowance for each city or county by the Total Water Pollutant Loading System. Once estimated, it will be useful to the economic assessment of the water quality related projects. An imaginary water pollutant emission trading system for the Nakdong River Basin, where Total Water Pollutant Loading System is already effective, is constructed for the estimation of the equilibrium price of water pollutant permit. By estimating marginal abatement cost curve or each city or county, we can compute the equilibrium price of the permit and then it is regarded as the economic value of the water pollutant. The marginal net benefit function results from the relationship between the emission and the benefit, and then the equilibrium price of permit comes from constructing the excess demand function of the permit by using the total allowable permit of the local government entity. The equilibrium price of the permit would be estimated to be $1,409.3won/kg{\cdot}BOD$. This is within reasonable boundary compared for the permit price compared to foreign example. This permit price would be applied to calculate for the economic value of the water quality pollutants, and also be expected to use directly for the B/C analysis of the business involved with water quality change.

• Science of Emotion and Sensibility
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• v.21 no.2
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• pp.101-112
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• 2018

This study was carried out to enhance the competitiveness of blackbox design for domestic and international companies, based on the explosive growth of the blackbox market due to development of blackbox design for vehicle accident prevention and post-treatment. In the past, the blackbox market has produced products indiscriminately to meet the ever-increasing demand of consumers. Therefore, we thought a new design method was necessary to effectively investigate the needs of rapidly changing consumers. In this study, we aimed to identify the best-selling blackbox to understand the design flow, and the optimum area for a blackbox, considering the uniqueness of associated vehicle. Based on discussion with blackbox design experts, we studied the direction of design and the problems with blackbox use, which were reflected in blackbox development. Through this research, two types of design - leading blackbox (A type) and mass production blackbox (B type) - were proposed for compatibility of the blackbox with the car. The leading type of blackbox was positioned so that it was wrapped with the room mirror hinge before the screw was fastened, in order to achieve an integrated design. Therefore, we designed an integrated form and resolved the placement problem of an adhesive blackbox. To blend, the mass production blackbox implemented material and surface processing in the same way with the car, and adopted the slide structure to automatically turn off the main body power when removing the SDcard, reflecting consumer needs. This study considers evolving consumer needs through a case study and collective intelligence and deals with implementation of the whole design process during mass production. In this study, we aimed to strengthen the competitiveness of the blackbox design based on design method and its realization.

• Korean Security Journal
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• no.22
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• pp.145-168
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• 2010

Since Alarm Monitoring Service was introduced in Korea in 1981, the market has been increasing and is expected to increase continually. Some factors such as the increase of social security need and the change of safety consciousness, increase of persons who live alone could be affected positively on Alarm Monitoring Service industry. As Alarm Monitoring Service come into wide use, the understanding of electronic security service is spread and consumer's demand is difficult, so consideration about new developmental plan is need to respond to the change actively. Electronic security system is consist of various kinds of element, so every element could do their role equally. Alarm Monitoring Service should satisfy consumer's various needs because it is not necessary commodity, also electronic security device could be easily operated and it's appearance has to have a good design. To solve the false alarm problem, detection sensor's improvement should be considered preferentially and development of new type of sensor that operate dissimilarly to replace former sensor is needed. On the other hand, to settle the matter that occurred by response time, security company could explain the limit on Alarm Monitoring System to consumer honestly and ask for an understanding. If consumer could be joined into security activity by security agent's explanation, better security service would be provided with mutual confidence. To save response time the consideration on the introduction of GIS(Global Information System) is needed rather than GPS(Global Positioning System). Although training program for security agents is important, several benefits for security agents should be considered together. The development of new business model is required for preparation against market stagnation and the development of new commodity to secure consumer for housing service rather than commercial facility service. for the purpose of those, new commodity related to home-network system and video surveillance system could be considered, also new added service with network between security company and consumer for a basis is to be considered.

• The Korean Journal of Air & Space Law and Policy
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• v.31 no.2
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• pp.99-143
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• 2016

General aviation and air transport are two wings of the civil aviation industry. Chinese air transport is developing rapidly, and has become the world second air transport system only second to US since 2005. However, Chinese civil aviation is far behind the world average level, and cannot meet requirements of economic construction and social development. The transition and structural adjustment of Chinese economy provide the general aviation with a unprecedented broad market. The prospect of general aviation is promising and anticipated. The development of general aviation industry needs the legislative supports, and the current legislative conditions of Chinese general aviation are undoubtedly far behind the realistic requirements. Accelerating the legislation in Chinese general aviation industry requires scientific legislation concept. First, Legislation must promote development of general aviation industry. The general aviation will serves as a Chinese emerging industry that boosts domestic demand, promotes employment and expedite domestic economic development. We should, based on both the concept of promoting the industrial development of general aviation and national industrial planning, enact and rectify relative laws and regulations. And we should also straighten out the relationship between aviation security and industrial development and promote the revolution of low-altitude airspace management in an all-round way, in order to improve the utilization rate of airspace resources, classify and establish airspace, simplify examination and approval procedure and intensify operation management. In addition, what we should do is to expedite the infrastructure layout construction, guide the differentiated but coordinated development of general aviation industries in various areas, establish a united supervision mechanism of general aviation, redistrict the responsibilities of Chinese Air Control Agency and set up legislation, law enforcement and judicial systems with clarified institutions, clear positioning and classified responsibilities, so as to usher in a new era of the legislative management of Chinese general aviation industry. Second, shift the focus from regulations to both regulations and services. Considering the particularity of the general aviation, we should use American practices for reference and take into account both regulation and service functions when enacting general aviation laws. For example, we should reduce administrative licensing and market supervision, and adopt "criteria" and "approval" management systems for non-commercial and commercial aviation. Furthermore, pay attention to social benefits. Complete social rescuing mechanism through legislation. It should be clarified in legislation that general aviation operators should take the responsibilities of, and ensure to realize social benefits of environmental protection and ecological balance .Finally, rise in line with international standards. Modify Chinese regulations which is inconsistent with international ones to remove barriers to international cooperation. Specify basic legislative principles. One is the principle of coordination. Realize coordination between the civil aviation and general aviation, between military aviation and civil aviation, and among departments. Two is the principle of pertinence. The general aviation has its own rules and specialties, needing to be standardized using specialized laws and regulations. Three is the principle of efficiency. To realize time and space values of general aviation, we should complete rules in aerospace openness, general aviation airport construction, general aviation operations, and regulation enforcement. Four is the principle of security. Balance the maximum use of resources of Chinese airspace and the according potential threats to Chinese national interests and social security, and establish a complete insurance system which functions as security defense and indemnificatory measure. Establish a unified legal system. Currently, the system of Chinese general aviation laws consists of national legislation, administrative laws and regulations and civil aviation regulations (CAR). Some problems exist in three components of the system, including too general content, unclear guarantee measures, incomplete implementation details, and lacking corresponding pertinence and flexibility required by general aviation regulations, stringency of operation management and standards, and uniformity of standards. A law and regulation system, centered on laws and consisting of administrative laws regulations, industrial regulations, implementation details, industrial policies and local laws and regulations, should be established. It is suggested to modify the Civil Aviation Law to make general aviation laws complete, enact the Regulations of General Aviation Development, and accelerate the establishment, modification and abolition of Chinese general aviation laws to intensify the coordination and uniformity of regulations.

• The Journal of Society for e-Business Studies
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• v.8 no.2
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• pp.99-111
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• 2003

By virtue of diverse advantages derived from digital media, eBook is getting started to use. And many market research agencies have predicted that its market will be greatly expanded soon. But against those expectations, copyright-related problems and the difficulties of its accessing inherited from various eBook content formats become an obstacle to its diffusion. The first problems can be solved by DRM technology. And to solve the second problems, each nation has published its own content standard format. But the domestic standards are useful only the domestic level, they still leave the problems in the national level. The variety of content formats has created a demand for mechanisms that allow the exchange of eBook contents. Therefore we study the mapping relations between eBook contents for conversion. To define the mapping relations, first we extract the mapping both between eBook contents and between normal XML documents. From those mappings, we define seven mapping relations and classify them by cardinality. And we analyze the classified relations, which can be generated by automatic, or not. Using these results, we also classify the eBook content conversion as automatic, semi-automatic, and manual. Besides, we provide the conversion templates for mapping relations for automatic generation of conversion scripts. To show the feasibility of conversion templates, we apply them to the eBook content conversion. Experiment shows that our conversion templates generate the conversion scripts properly. We expected that defined mapping relations and conversion templates can be used not only in eBook content conversion , but also in normal XML document conversion.

• Journal of KIISE:Computing Practices and Letters
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• v.7 no.6
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• pp.614-629
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• 2001

As the information-intensive society in 21c based on the environment of global internet is promoted, the software is getting more large and complex, and the demand for the software is increasing briskly. So, it becomes an important issue in academic and industrial field to activate reuse by developing and exchanging the standardized component. Currently, the information services as a product type of each company are provided in foreign market place for reusing a commercial component, but the components which are serviced in each market place are different, insufficient and unstandardized. That is, construction for Component Data Registry based on ISO 11179, is not accomplished. Hence, the national government has stepped up the plan for sending out public component at 2001. Therefore, the systems as a tool for sharing and exchange of data, have to support the meta-information of standardized component. In this paper, we will propose the C_MDR system: a tool to register and manage the standardized meta-information, based upon ISO 11179, for the commercialized common component. The purpose of this system is to systemically share and exchange the data in chain of acceleration of reusing the component. So, we will show the platform of specification for the component meta-information, then define the meta-information according to this platform, also represent the meta-information using XML for enhancing the interoperability of information with other system. Moreover, we will show that three-layered expression make modeling to be simple and understandable. The implementation of this system is to construct a prototype system of the component meta-information through the internet on www, this system uses ASP as a development language and RDBMS Oracle for PC. Thus, we may expect the standardization of the exchanged component metadata, and be able to apply to the exchanged reuse tool.

• The Korean Journal of Air & Space Law and Policy
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• v.28 no.1
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• pp.3-54
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• 2013

Nowadays, major advanced countries in aviation technology are putting their effort to develop commercial and civil Unmanned Aircraft System(UAS) due to its highly promising market demand in the future. The market scale of commercial and civil UAS is expected to increase up to approximately 8.8 billon U.S. dollars by the year 2020. The usage of commercial and civil UAS covers various areas such as remote sensing, relaying communications, pollution monitoring, fire detection, aerial reconnaissance and photography, coastline monitoring, traffic monitoring and control, disaster control, search and rescue, etc. With the introduction of UAS, changes need to be made on current Air Traffic Management Systems which are focused mainly manned aircrafts to support the operation of UAS. Accordingly, the legislation for the UAS operation should be followed. Currently, ICAO's Unmanned Aircraft System Study Group(UASSG) is leading the standardization process of legislation for UAS operation internationally. However, some advanced countries such as United States, United Kingdom, Australia have adopted its own legislation. Among these countries, United States is most forth going with President Obama signing a bill to integrate UAS into U.S. national airspace by 2015. In case of Korea, legislation for the unmanned aircraft system is just in the beginning stage. There are no regulations regarding the operation of unmanned aircraft in Korea's domestic aviation law except some clauses regarding definition and permission of the unmanned aircraft flight. However, the unmanned aircrafts are currently being used in military and under development for commercial use. In addition, the Ministry of Land, Infrastructure and Transport has a ambitious plan to develop commercial and civil UAS as Korea's most competitive area in aircraft production and export. Thus, Korea is in need of the legislation for the UAS operation domestically. In this regards, I personally think that Korea's domestic legislation for UAS operation will be enacted focusing on following 12 areas : (1)use of airspace, (2)licenses of personnel, (3)certification of airworthiness, (4)definition, (5)classification, (6)equipments and documents, (7)communication, (8)rules of air, (9)training, (10)security, (11)insurance, (12)others. Im parallel with enacting domestic legislation, korea should contribute to the development of international standards for UAS operation by actively participating ICAO's UASSG.