• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.10
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• pp.6534-6542
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• 2015

This study examines the relation between mutual fund performance and fund flows in Korean market using weekly and monthly data. The results are as follows. First, the relation between the two variables varies across fund types. Even the relations in equity fund and index fund are different from each other. Second, the structural change in the mutual fund market affect significantly the relation between the two variables. Third, return chasing flow is observed constantly in bond fund and it is observed only after the structural change for equity fund and MMF. However, no return chasing flow is observed for index fund. Fourth, mutual fund flows affect subsequent fund returns only in MMF after the structural change.

• Culinary science and hospitality research
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• v.2
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• pp.25-46
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• 1996

The clients of hotel desire to be recognized as special persons who have their own personality and self-consciousness. The other hand, The hotel concentrates upon marketing strategy which acts a part of expanding sales. Namely, They find out the need of client, satisfy the desired need, ensure and manage the existing regular customers and make new clients regular customers. So they gain an advantage over competitive hotels. They make strategics of Telemarketing technique which is one of the developed-marketing techniques, can provide distinctive and familiar service and have an hight effect at the low cost. The attractions of Telemarketing strategy can be explained as follows. 1. It is the medium that have cost efficiency. 2. It possesses attractions to do time management. 3. It has control cash flow. 4. It can improve cash flow. 5. Market expansion can be accomplished. 6. It is a medium fit for prospecting over long-term period. 7. It can improve customer relations. 8. It fits seasonality (seasonal sales) 9. It brings greater order volume. 10. It benefits from lower personnel costs. 11. High volume productivity is realized. 12. It has attraction of versatility. 13. It has ease of start-up.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.33
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• pp.29-62
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• 2007

The object of this paper is to increase in domestic use of export factoring for small and medium trading companies. Factoring involves a process where a specialized firm assumes the responsibility for the administration and collection of account receivable for its clients. It can be considered a form of short term commercial financing based on selling of trade credit at a discount, or for a prescribed fee plus interest. The youngest and smallest businesses cannot receive working capital for account receivable for export from financial companies, while larger businesses tend to have less need for factoring services. Using export factoring provide a valuable improvement to cash flow and working capital position and can possibly contribute to small business growth and development. There are several suggestions for export factoring to activate in Korea. First, the number of factoring companies need to be enlarge to activate export factoring in trade and financial policies. Second, factoring companies have to perform public relations for trading companies to inform the export factoring system and its advantages. Third, government need to support the system of export factoring with legislation and financial instruments. Forth, trading companies need to be reformed credit inquiry system in terms of expenses and methods by government This paper has attempted to emphasize on export factoring for small and medium size exporting companies and deserves more research by academics, practitioners and trade policy makers.

• Analyses & Alternatives
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• v.2 no.2
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• pp.111-141
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• 2018

By the middle of 2018 there are signs of China's entry into a new period of development, characterized by a change in the old model: "market reforms-inner-party democratization - moderate foreign policy" to another: "market reforms - Xi Jinping personality cult - offensive foreign policy." This model contains the risks of arising of the contradiction between economic freedom and political-ideological rigidity which can lead to destabilization of the political life. However, in the current positive economic dynamics, these risks may come out, rather, in the medium and long term. Today, the political situation in China remains stable - despite growing dissatisfaction in scientific expert and educational circles due to increased control over the intellectual sphere by the authorities. The need for a new redistribution of power between central and provincial authorities could potentially disrupt political stability in the medium term, but, at the moment, is not a critical negative factor. The economic situation is positive-stable. Forecasts indicate a possible increase in China's GDP in 2018 at 6.5%. At the same time, there are negative expectations in connection with the Sino-US and potentially Sino-European "trade war". In the Chinese foreign policy, as a response to Western pressure, China increasingly uses the Russian direction of its diplomacy in the expanded version of Russia + SCO. The nuance here is seen in China's adjusted approach to the SCO: first of all, not as a mechanism for cooperation with Russia, but as an organization that allows using Russia's potential for pressure on the US in the Sino-US strategic rivalry. In the second half of 2018, the Chinese economy will continue to develop steadily, albeit with unresolved traditional problems (debts of provinces and state-owned enterprises, ineffective state sector, risks on the financial and real estate market). In politics, discontent with the cult of Xi will accumulate, but without real threats to its power. Weakening in economic opposition between China and the United States is possible due to Beijing's search for compromises on tariffs, intellectual property, trade deficit. To find such trade-offs, Xi will use the so-called. "Personal diplomacy" of direct contacts with Trump.

• Korean Institute of Interior Design Journal
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• v.21 no.3
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• pp.58-66
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• 2012

In the modern era, perceived as the century of culture, the pure meaning of information in various medium is becoming extinct and the distinction between media and reality being faded away. Such phenomenon is called "simulracre". Gilles Deleuze defines "simulracre" as an event that passes by momentarily. To the modern people, the museum should be sublimated into a space that reflects not only the various surroundings but also education and should be a space that can provide diverse experiences. For museum exhibit communication, storytelling is a method that can meet the need of audience and take one step forward in educational and emotion aspect. Considering such relationship, "event" can be an evidence to build a space by establishing relations with subject and determine the meaning of space. First, characteristics of event and requisite and the theoretical view of storytelling will be examined, followed by the analysis of event storytelling by selecting Holocaust Museum which attempted a new approach that has dealt with what is important to the Jews: 'holocaust'. The purpose of this study is to identify how "event", not remaining as an abstract term, is being present in Holocaust Museum with a new spatial perspective, and to provide the public with a different set of thinking and experience.

• Korean Journal of Applied Biomechanics
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• v.17 no.4
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• pp.27-36
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• 2007

The purpose of this study was to investigate the effect of the upper body in order to increase a propulsive force in the old's walking. The subjects were each 10 males, the latter term of the aged and former term of the aged. There were three walking speeds of slow(about 5km/h), medium(about 6km/h), and maximum speed(about 7km/h). The subjects walking 11m were filmed the 5m section (from 3m to 8m) by 2-video cameras using three dimensional cinematography. And we computed different mechanical quantities and especially computed the relative momentum in order to achieve this study's aim. In this study, we was able to acquire some knowledge. The step length and step frequency increased in proportion to the walking speed, and the faster walking speed, the shorter ratio of supporting time( both legs supporting time/one step length time). When it was one leg support phase, the torso was indicated to generate the momentum in order to produce the propulsive force of walking. The upper and lower body had a cooperative relation for walking such as keeping step rate with the arms to legs and maintaining the body balance. The opposition phase for upward-and-downward direction of the torso and arms in walking was functioned to prevent the increase rapidly toward vertical direction of the center of gravity. The arms had contributed to coordinate the tempo of legs and the posture maintenance of the upper body. And by absorbing the relative momentum from the upper torso with arms to the lower torso, it had the rhythmical movement on upward-and-downward direction reducing the vertical reaction force. On account of the relations of absorption and generation of the propulsive force and the production of vertical impulse in the lower torso when walking by maximum speed, it was showed that the function of lower torso was come up as important problem for the mechanical posture stability and propulsive force coordination.

• Journal of Distribution Science
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• v.12 no.6
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• pp.81-88
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• 2014

Purpose - Entrepreneurship promotion is emerging as an important economic growth agenda. However, in Korea, entrepreneurship has weakened because of the collapse of the venture bubbles of the 2000s and the global economic recession in 2008, which have induced the business community to choose stability over risk. The Korean government has been implementing several support projects to inspire and promote youth entrepreneurship through various means including financial assistance; however, the perpetuation rate of young entrepreneurship is still low as compared to advanced economies such as the US and EU. This case study focuses on the Youth Start-Up Business Support Program of the Small & Medium Business Corporation, and explores practical alternatives. Further, it aims to suggest managerial factors and a conceptual model for change management factors affecting the business performance creation of a startup company, based on the Small and medium Business Corporation's young venture startup fund. Research design, data, and methodology - Many studies examine the current progress and issues of startup firms, for example, a lack of systematic cultivation of entrepreneurship and startup business training, lack of commercialization funding for youth startup businesses, lack of mentoring, and inadequate infrastructure. From prior research, we address four factors, namely, personal managerial capabilities, innovative business model, sufficient cash flow, and social network, affecting startup companies' business performance. This study involved a sample survey of 200 young entrepreneurs to investigate casual relations between the four factors and business performance. A regression analysis was used to verify the hypotheses. Results - First, in relation to differences in the founder's personal characteristics, age, sales amount, and number of employees significantly impact business performance. Second, regarding the causal relation between the four factors for creating business performance, an innovative business model and social networking have supported the hypotheses, revealing that the more that a start-up founder has an innovative business model and social networking, the more the start-up firms are likely to have better performance (e.g., sales volume, employment, ROE, ROI, etc.). Although the founder's competency and sufficient cash flow have no significant relationship with business performance, the mean value was higher performance for high founder's competency and sufficient cash flow. Conclusions - This study provides basic data on policy support strategies of the Small and Medium Business Corporation, to help young entrepreneurs achieve their start-up business goals. It shows that young entrepreneurship startup firms should strive to explore ideas to satisfy customers' needs, and that changes in customer value and the continuous innovation of business model differentiation are required to actively respond to change management. Moreover, at the infant startup stage, they should activate social network programs to share information, thereby offsetting resource scarcity and managing business risk. Further, the establishment of a long-term vision and the implementation of training programs in related specific fields should be supported to strengthen founders' personal capabilities.

• Journal of Distribution Science
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• v.12 no.12
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• pp.101-106
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• 2014

Purpose - This study reviews the achievements of a pilot project for the revitalization of a commercial district performed for three years after its establishment in 2011. The project for the revitalization of the commercial district was performed to create a new local community space in connection with the traditional market and nearby districts. Although it was a pilot project, the project for the revitalization of the commercial district has been performed for almost three years. Therefore, this seems a proper time to conduct an interim evaluation of the project. This study aims to review and evaluate how the government support policy is influential for the revitalization of the commercial district. In other words, this research aims to identify what projects positively affected consumers' intention to revisit the downtown commercial area among the commercial district revitalization projects-promotion events, promotion activities, education, merchants cooperation system, IT projects, cultural events, and residents' communication. Research design, data, and methodology - This study designated seven management improvement projects affecting commercial district revitalization based on preceding studies. The survey of the degree of satisfaction on seven management improvement projects was executed targeting consumers who visited the commercial areas. Additionally, visitors' revisit intentions regarding currently visited commercial areas were also investigated. Therefore, revisit intention was set as a dependent variable and the satisfaction degrees of the respective management improvement projects were set as the independent variables. A total of 1,209 consumers were examined in six districts in the country. Result - Multiple regression analysis results showed that cultural events, education, the merchants' cooperation system, and IT projects brought statistically significant effects to the revisit intentions of consumers. In contrast, promotion events, resident communication projects, and promotion activities did not affect the revisit intentions of consumers. Particularly, the residents' communication project did not show significant influence because of consumers' recognition that it is similar to a cultural event. Conclusion - The following implications for the revitalization of business districts in the urban central area are drawn. From a general perspective, the businesses of culture, education, and cooperative system among seven businesses play positive roles regarding the intention to revisit so that the project is required to be promoted periodically through unique performances differentiated for each district, the merchant training reinforced for professionalism, and the expansion of joint events of merchants. Moreover, the sales promotion project and public relations activity are shown to be not influential to the intention to revisit. Therefore, while short-term sales promotion such as one-time gift events are required, sales promotion and public relation activities to induce revisits by mileage savings and accumulated gift presentation to attract long-term customers are required. The IT business is positively influential to the intention of revisit. Therefore, detailed information on the revitalized commercial district should be provided and additional functions such as discount coupons for continuous utilization should be included in the mobile app and the website.

• The Southeast Asian review
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• v.28 no.1
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• pp.21-51
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• 2018

This article takes several approaches in explaining recent developments in Vietnam. First, it draws upon an array of sources that idealize Vietnam's embrace of capitalism and integration into the global market in order to sketch out its economy's progress in 2017. Second, it observes, evaluates, and diagnoses recent changes in the Vietnamese economy in the medium to long term by incorporating conflicting perspectives on Vietnam's performance as a capitalist country. Third, this article traces the power shifts that have risen from internal struggles in the Communist Party over political and social issues. Fourth, it elaborates on the aforementioned impact that foreign relations have had on socio-political developments in Vietnam, as well as the government's response. In so doing, it also attempts to evaluate, however briefly, the significance of the 25th anniversary of South Korea-Vietnam relations. Finally, it examines the public's reaction to the post-reform transitions in light of recent sociocultural changes. 2017 was a memorable year for Vietnam: a continuous march toward capitalism; the resulting expansion of the Vietnamese people's demands; political controversies and government control; the looming instability of United States-China relations and various attempts to address the situation. These events will inevitably replicate themselves in the future as the ostensibly socialist Vietnam adopts a capitalist model. The problem is that it is unclear whether these experiences will continue with the consent of the people of socialist Vietnam or engender resistance. It is difficult to achieve meaningful consent in the status quo of worsening inequalities, widespread corruption, monopoly on power, and sustained use of unskilled low-wage workers. In other words, when concerns such as welfare, public health, and the environment are set aside in favor of economic development and commercialization as they have been, discontent, rather than consent, will prevail. It is thus important to keep a watchful eye on the viability of the nominal economic growth, surface-level political stability, and strategic responses to foreign relations that took place in 2017.

• Journal of Korea Technology Innovation Society
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• v.16 no.4
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• pp.1163-1186
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• 2013

Big science such as nuclear fusion accelerators shares the characteristic of requiring long-term and massive budget input, human power, and related state-of-the-art technology. Because big science, by nature, thus requires large-scale budgets and facilities yet harbors the possibility of failure, most projects are led by the government. When the actual circumstances are examined, however, such projects are often implemented through the formation of cooperative relations with small and medium businesses (SMBs) possessing outstanding technological capacity. On the other hand, the reality is that the entry of corporations into the business ecosystem of big science is not easy and that even those that have once entered big science likewise fail to find sales outlets for technology that they have developed following the supply of single items, thus leading their technological capacity to lie idle. Consequently, based on an awareness of the problem, the present study seeks to propose strategies for activating the business ecosystem of nuclear fusion and accelerators and to present alternatives regarding which policy tasks must be pursued first by using the analytic hierarchy process (AHP) technique. The present study derived the four policy alternatives of approach, care, expansion, and infrastructures in accordance with the results of empirical analysis to activate the business ecosystem of nuclear fusion and accelerators and analyzed their priority in terms of urgency and effectiveness, the results of which were, in this order: care-approach-expansion-infrastructures. The significance of such research results lie in presenting the policy direction when the government determines which policy task must be pursued first and implements strategies for the activation of the business ecosystem of nuclear fusion and accelerators with limited financial resources in the future.