• The Journal of Small Business Innovation
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• v.20 no.3
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• pp.49-68
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• 2017

Platform finance is emerging as an alternative finance for SMEs by suggesting a new funding source based on a new technology named FinTech. The essence of this business is the adapting ICT challenges to the financial industry that can adequately reflect risk assessment using Big Data and effectively meet individual risk-return preference. Thus, this is evolving as an alternative to existing finance in the form of P2P loans for Micro Enterprises and supply-chain finance for SMEs that need more working capital. Platform finance in Korea, however, is still at an infant stage and requires policy support. This can be summarized as follows: "Participation of institutional investors and the public sector," meaning that public investors provide seed money for the private investors to crowd in for platform finance. "Negative system in financial regulations," with current regulations to be deferred for new projects, such as Sandbox in the UK. In addition, "Environment for generous use of data," allowing discretionary data sharing for new products," and "Spreading alternative investments," fostering platform finance products as alternative investments in the low interest-rate era.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.2
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• pp.95-108
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• 2021

Technology innovation activities are very important for companies to secure technological competitiveness and continue to grow. Korea operates a certification system at the national level to promote corporate innovation activities, and strives to enhance SMEs' global technological competitiveness. Among these, the representative system related to technological innovation is the New Excellent Technology (NET) certification. NET is certified through a strict three-stage screening process, and is operated for the purpose of commercialization of new technology, technology trading, and promotion of early market entry by companies. Acquiring NET certification means that the company has a certain level of technological competitiveness. Therefore, this study attempted to conduct an empirical analysis on which technology innovation activities of companies affect the success of R&D projects and improvement of management performance, centering on NET certification system. To verify this, technology strategy, technology planning, systematic R&D process, internal cooperation, and external cooperation activities were set as major variables. As a result of the empirical analysis, it was confirmed that all variables set in this study individually contributed to the success of the R&D project and improvement of management performance. However, when looking at a comprehensive level that considers all variables, it was analyzed that systematic R&D process management and cooperation activities with external organizations have a statistically significant effect on R&D project success, and technology strategy establishment and technology planning activities, which are the initial stages of R&D, have a statistically significant effect on management performance. This study was conducted on innovation-oriented SMEs that have established and operated corporate R&D centers and are actively conducting R&D activities, and multiple regression analysis was used as an analysis method.

• Journal of the Korean Geographical Society
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• v.47 no.2
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• pp.226-244
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• 2012

This paper aims to analyze the process of the evolution of Gumi electronics industrial cluster and to understand the role of governments for local industrial dynamics. Gumi was a typical satellite platform type new industrial district up to mid-1990s. At that time, Gumi industrial park was the agglomeration of branch plants headquartered in Capital Region with weak local linkages. During the last two decades, however, Gumi has evolved to an electronics industrial cluster with considerable local interfirm linkages and innovation activities of SMEs. Recognizing government industrial policies is critical in understanding the process of the evolution of Gumi electronics cluster. At the early stage, the state was the developer and locator of business activities within the confines of the Gumi industrial park. In recent years, central government's innovative cluster policy contributed to strengthening networks among firms, universities, and research centers to form local innovation networks as well as networks between large branch plants and SMEs. Gumi city and Gyungsangbuk-do promoted innovative activities of SMEs through the supports of cooperative networks between universities and SMEs. The increasing roles of SMEs and local governments in addition to the large branch plants and the central government have become the basis of the evolution of industrial cluster in Gumi.

• Knowledge Management Research
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• v.10 no.1
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• pp.53-70
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• 2009

This study empirically explored what promotes exploration, through a case analysis of a Korean SME (small and medium sized enterprise), based on the research framework which focuses on the identification and the selection of exploratory NPD (new product development) alternatives, and the accumulation of novel capabilities in new technology domains. The learning process of the exploratory NPD project described is as follows. The identification barrier of exploratory NPD project is relatively low. Constructive crisis is germane to selecting exploratory NPD alternatives and to enduring the long payback period. New separated R&D unit is likely to implement the exploratory NPD project. The length of the gestation period of the exploratory NPD project is related with the level of the conflict between old members and new members. This study identified several antecedents of the exploratory NPD project. Prior success promotes the identification process of the exploratory NPD projects. Constructive crisis is related with CEO's personal characteristics such as future oriented and proactive personality. The proactive involvement and persuasion of CEO are germane to reducing the conflict between old and new members and to the success of the exploratory NPD project. Based on the results, this study discusses several implications and future research directions.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.3
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• pp.125-140
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• 2018

According to statistics, it is shown that domestic SMEs rely on bank loans for the majority of fund procurement. From financial information shortage (Thin file) that does not provide information necessary for credit evaluation from banks such as financial statements. In order to overcome these problems, recently, in alternative finance such as P2P, using differentiated information such as demographics, trading information and the like utilizing Fintech instead of existing financial information, small funds A new credit evaluation method has been expanding to provide SMEs with small amounts of money. In this paradigm of environmental change, in this research, credit evaluation which can expand fund supply to SMEs by utilizing big data based on trade area information such as sales fluctuation, location conditions etc. In this research, we try to find such a solution. By analyzing empirically the big data generated in the trade area, we verify the effectiveness as a credit evaluation factor and try to derive the main parameters necessary for the business performance evaluation of the founder of SMEs. In this research, for 17,116 material businesses in Seoul City that operate the service industry from 2009 to February 2018, we collect trade area information generated for each business location from Big Data specialized company NICE Zini Data Co., Ltd.. We collected and analyzed the data on the locations and commercial areas of the facilities that were difficult to obtain from SMEs and analyzed the data that affected the Corporate financial Distress. It is possible to refer to the variable of the existing unused big data and to confirm the possibility of utilizing it for efficient financial support for SMEs, This is to ensure that commercial lenders, even in general commercial banks, are made to be more prominent in one sector of the financing of SMEs. In this research, it is not the traditional financial information about raising fund of SMEs who have basically the problem of information asymmetry, but a trade area analysis variable is derived, and this variable is evaluated by credit evaluation There is differentiation of research in that it verified through analysis of big data from Trading-area whether or not there is an effect on.

• Journal of Technology Innovation
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• v.20 no.2
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• pp.75-107
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• 2012

Previous researches on technological innovation have several limitations such as lack of general mechanism for technological innovation(inputs, throughputs and outputs of technological innovation), large company oriented studies, and ignoring importance of technology management capabilities. So, this study suggested a new model using resource-based theory and system theory, and empirically applied that to SMEs. Structural equation model analysis by using 223 SMEs in Daegu region provided a support for most of hypotheses. Research results showed that all of factors on technological innovation were significantly and positively related with each other: inputs(R&D leadership, innovation strategy, R&D investment, R&D human resource management, external network), throughputs(portfolio management, project management, technology commercialization) and output(technological innovation). In case of technological innovation inputs, R&D leadership influenced on innovation strategy positively and significantly. And R&D leadership and innovation strategy had positive and significant effects on R&D investment, R&D human resource management and external network. R&D human resource management and external network exerted positive and significant influences on technological innovation throughputs such as portfolio management and project management. But R&D investment did not significant impacts on technological innovation throughputs. Among technological innovation throughputs, both portfolio management and project management had positive and significant effect on technology commercialization. In addition, technology commercialization acted positively and significantly technological innovation output. This study suggests necessary of efforts to implement innovation strategy and manage R&D human resource effectively based on CEO's innovativeness and entrepreneurship. Also, if SMEs want to develop technology and commercialize it, they have to cooperate with external technology resources and informations. Research results revealed that proper level of R&D investment, internal and external communication, information sharing, and learning and cooperative culture were very important for improvement of technological innovation performance in SMEs. Especially, this research suggested that if SMEs manage technological innovation process effectively based on resource-based and system approaches, then they can overcome their resource limitations and gain high technological innovation performance. Also, useful policy support for technological innovation of central or regional government by this research model is important factor for SMEs' technological innovation performance.

• Asia-Pacific Journal of Business
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• v.11 no.3
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• pp.169-184
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• 2020

Purpose - This research is intended to analyze the current status and problems of tax benefits in the R&D sector and suggest ways to improve tax credit for research and manpower development expenses when various countries fiercely develop efforts to enhance national competitiveness through increased investment in R&D Design/methodology/approach - This study will examine the current status of the tax support system for domestic and foreign R&D, and suggest improvement measures to expand research and development activities in the future. Findings - First, a plan may be considered to abolish and perpetuate the sunset deadline for tax credit for research and manpower development expenses as in the case of the United States and Japan. This perpetuation can be a proactive measure to actively support long-term R & D investment in companies facing economic decisions under uncertainty. Second, it should be revised to raise the tax credit rate of large corporations, which are shrinking every year, compared to SMEs, so that both large corporations and SMEs can improve their international competitiveness and secure excellent technologies through R & D. Finally, the target technologies for each new growth engine and source technology should be expanded to various fields, including national cybersecurity enhancement technology, aviation engine technology, carbon emission and global cooling technologies, which are areas of interest in major overseas R&D countries, to help active R&D and investment in these areas. Research implications or Originality - This study can find a contribution in comparing and analyzing the national R&D tax support system and presenting improvement measures at a time when the benefits of tax credit for research and manpower development expenses of large companies are decreasing due to frequent tax law revisions and the government's factors of increasing tax revenues. In addition, recent research and development items and research technologies of foreign countries were analyzed by Nature's top 10 major science and technology issues, and advanced technologies that should be applied to target technology areas by new growth engine and source technology were specifically investigated and presented.

• Journal of Intelligence and Information Systems
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• v.25 no.4
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• pp.1-33
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• 2019

The small and medium sized enterprises (hereinafter SMEs) are already at a competitive disadvantaged when compared to large companies with more abundant resources. Manufacturing SMEs not only need a lot of information needed for new product development for sustainable growth and survival, but also seek networking to overcome the limitations of resources, but they are faced with limitations due to their size limitations. In a new era in which connectivity increases the complexity and uncertainty of the business environment, SMEs are increasingly urged to find information and solve networking problems. In order to solve these problems, the government funded research institutes plays an important role and duty to solve the information asymmetry problem of SMEs. The purpose of this study is to identify the differentiating characteristics of SMEs that utilize the public information support infrastructure provided by SMEs to enhance the innovation capacity of SMEs, and how they contribute to corporate performance. We argue that we need an infrastructure for providing information support to SMEs as part of this effort to strengthen of the role of government funded institutions; in this study, we specifically identify the target of such a policy and furthermore empirically demonstrate the effects of such policy-based efforts. Our goal is to help establish the strategies for building the information supporting infrastructure. To achieve this purpose, we first classified the characteristics of SMEs that have been found to utilize the information supporting infrastructure provided by government funded institutions. This allows us to verify whether selection bias appears in the analyzed group, which helps us clarify the interpretative limits of our study results. Next, we performed mediator and moderator effect analysis for multiple variables to analyze the process through which the use of information supporting infrastructure led to an improvement in external networking capabilities and resulted in enhancing product competitiveness. This analysis helps identify the key factors we should focus on when offering indirect support to SMEs through the information supporting infrastructure, which in turn helps us more efficiently manage research related to SME supporting policies implemented by government funded institutions. The results of this study showed the following. First, SMEs that used the information supporting infrastructure were found to have a significant difference in size in comparison to domestic R&D SMEs, but on the other hand, there was no significant difference in the cluster analysis that considered various variables. Based on these findings, we confirmed that SMEs that use the information supporting infrastructure are superior in size, and had a relatively higher distribution of companies that transact to a greater degree with large companies, when compared to the SMEs composing the general group of SMEs. Also, we found that companies that already receive support from the information infrastructure have a high concentration of companies that need collaboration with government funded institution. Secondly, among the SMEs that use the information supporting infrastructure, we found that increasing external networking capabilities contributed to enhancing product competitiveness, and while this was no the effect of direct assistance, we also found that indirect contributions were made by increasing the open marketing capabilities: in other words, this was the result of an indirect-only mediator effect. Also, the number of times the company received additional support in this process through mentoring related to information utilization was found to have a mediated moderator effect on improving external networking capabilities and in turn strengthening product competitiveness. The results of this study provide several insights that will help establish policies. KISTI's information support infrastructure may lead to the conclusion that marketing is already well underway, but it intentionally supports groups that enable to achieve good performance. As a result, the government should provide clear priorities whether to support the companies in the underdevelopment or to aid better performance. Through our research, we have identified how public information infrastructure contributes to product competitiveness. Here, we can draw some policy implications. First, the public information support infrastructure should have the capability to enhance the ability to interact with or to find the expert that provides required information. Second, if the utilization of public information support (online) infrastructure is effective, it is not necessary to continuously provide informational mentoring, which is a parallel offline support. Rather, offline support such as mentoring should be used as an appropriate device for abnormal symptom monitoring. Third, it is required that SMEs should improve their ability to utilize, because the effect of enhancing networking capacity through public information support infrastructure and enhancing product competitiveness through such infrastructure appears in most types of companies rather than in specific SMEs.

• The Journal of the Korea institute of electronic communication sciences
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• v.9 no.1
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• pp.111-122
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• 2014

This paper proposes a new strategy for assisting SMEs in S. Korea to grow by the use of free technologies, which include expired patents, patents that are effective in other countries but not in S. Korea, and technologies that were published without being patented. A key question answered in this paper is how to find valuable technologies developed by large companies that can be utilized by domestic SMEs. A procedure for identifying emerging free technologies was developed and is explained with an example. A quantitative analysis of technology trend was conducted on PCT's published patents that did not include S. Korea as a designated country, and then emerging IPC subclasses were identified. Among those emerging technology areas, the subclass areas where the number of Korean inventors is small were identified as key emerging free technology areas. Our method for identifying emerging free technologies can assist domestic SMEs to advance in the international market and guide the development of a national industrial strategy.

• Journal of Engineering Education Research
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• v.15 no.5
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• pp.69-77
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• 2012

GNTECH-ICEE, which this study seeks to investigate and evaluate, demonstrates a new system of training innovative engineers. An essential component of this operation is a Small Engineering Group (SEG) that links professors, students and industrial experts together, to study and apply different techniques in determining the processes and products that relate industrial sectors needs. As an education program, SEG also provides a right direction for educating students, and generates industry-university link based human resources. Through these efforts, GNTECH-ICEE has effectively trained creative, professional, and practical engineers, by operating a variety of programs for meeting industrial needs and enhancing engineering education. SEG has many merits that have influenced its success so far, but the program also faces some challenges. The merits include; strong group bondage, practical ability incubation, and efficient administrative support. In terms of demerits, it is evident that sufficient theoretical education and local small-middle size enterprises (SMEs)' sustainable participation cannot be warranted. Thus, we propose that initiative strategies have been helpful to maximize GNTECH-ICEE's goal of making students into multi-player engineer, but continuously financial and administrative strategies be put into place in order to guarantee SMEs' long-term devotion to the program, and to help create a sustainable network between students and the companies involved.