• Journal of Korea Trade
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• v.26 no.5
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• pp.1-22
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• 2022

Purpose - This study aims to analyze the influence of South Korea's outward foreign direct investment (OFDI) under the effect of both multinational enterprises' (MNEs) investment motivation and host country institutions. Some suggestions are put forward with regard to South Korean MNEs participating in and integrating into the fierce and changeable world of international market competition. Design/methodology - The basic hypotheses are that MNEs' investment motivations and the host country's superior institutions both boost South Korea's OFDI in those host countries. South Korea's OFDI is divided into investment choice stage and investment scale stage. A Heckman two-stage selection model is established for empirical analysis, using the panel data of South Korea's OFDI and related variables, from 2002 to 2019. Findings - (1) The influence on the investment scale of South Korea's OFDI is more regular and noteworthy than the influence on investment choice. (2) In the investment scale stage, there are obvious motivations to seek markets, labor force and superior technology, but not natural resources. (3) In the investment scale stage, the South Korea's OFDI is more obviously attracted by the host country's superior political institutions, economic institutions and legal institutions, but not cultural institutions. Originality/value - The choices of variables and uses of model expand the theoretical basis and empirical method of OFDI research. The results of the empirical study also provide some reference for the transnational investment of South Korean MNEs and the investment policy formulation of the South Korean government.

• Smart Media Journal
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• v.9 no.4
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• pp.91-96
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• 2020

A blockchain is a technology in which all nodes participating in a distributed network manage each transaction's contents without a central server managing the transaction, which is a record of the transaction. The block containing the transaction record of a specific period is connected to the blockchain by referring to the hash value for the previous block, and the chain with the new block added is shared with all nodes again. Transactions using existing certificates will pass through FinTech, and in the near future, applications using blockchains are expected to emerge. In this study, we analyze the problems of the existing model, and propose a transaction model that applies the blockchain to come. Among various applications, this study develops a trading model targeting the energy sales market among the topics that will lead the fourth industrial revolution. As a result of analyzing the proposed model, it was possible to be sure of the possibility of a safer energy sales transaction than the existing method.

• Information Systems Review
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• v.6 no.1
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• pp.141-153
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• 2004

As $40%{\sim}60%$ of the construction project expense is used for the purchase and procurement of construction materials, construction companies are attracted by the promise of online procurement of construction materials through the B2B e-Marketplace. B2B e-Marketplace can save construction companies time and money spent through the off-line procurement. Construction B2B e-Marketplaces can energize the construction market dominated by major construction companies. It will expand the business scope of small and medium construction material suppliers and construction companies. Current B2B e-Marketplaces underperform in all industries due to low participation. Excluding some construction B2B e-Marketplaces led by major construction companies, most construction B2B e-Marketplaces show poor performance in terms of revenue and transaction. Researches are needed in the area of discovering the problems of current construction B2B e-Marketplace and identifying the factors for participating in the construction B2B e-Marketplace. This research conducts a case study to analyze the current status of construction B2B e-Marketplace.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.1
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• pp.63-77
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• 2022

The importance of start-ups and venture companies in the Korean economy is growing. However, the successful growth of startups and venture companies are still challenging as 70% of startups fail within 5 years. A new perspective on innovation is essential to overcome the liability of newness and the liability of smallness in the existing market and obtain the competitive advantage. Recent phenomenon in the Korean startups ecosystem is the remarkable growth of unicorns and future unicorns. Their business models, types of business, and success cases serve as a good example. Neverthless, the process of unicorn and future unicorn startups making new industries and innovative business has poorly understood. In this paper, we first define 175 unicorns and future unicorn startups participating in the K-unicorn project as a unicorn group and analyze current trends of the group. Then the in-depth analyses of industry sectors are conducted. Specifically, focusing on the unicorn forming the new market, we examine the unicorn making the processes of industry category innovation through the business innovation model. Lastly, broadening the scope of the analysis to the unicorn group, policy implications in startups and venture ecosystem are suggested.

• Journal of the Korean Society of Propulsion Engineers
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• v.26 no.2
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• pp.79-95
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• 2022

Since space exploration began in the 1950s, numerous upper stage engines have been developed and used based on various design concepts. In this paper, information of upper stage engines which developed or developing is analysed and their characteristics and performance are summarized. These days, there are many cases of commercial heavy launch vehicles applying upper stage engines using liquid hydrogen with expander cycle which launched recently. Engines operating by Kerosene seem to be close to its theoretical maximum performance based on past experiences. Meanwhile, engines using methane propellant, which has recently become an issue, are also undergoing many developments because of various advantages. Recently, private companies are actively participating in launch vehicle market, and there are many cases in which the government and companies jointly research of next-generation engine.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.109-121
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• 2023

This paper examines whether angel investors affect startup's financial performance (profitability and growth ratios) in the Korean startup market over 10 years period from 2009 to 2018. In particular, we consider not only the behavior of angel investor such as the investment amount or the type of investments (stocks, bonds) but also the type of angle investor (individual or corporation). Our empirical results are as follows. First, we find that the startup's profitability ratios are higher after the investment of angel investors. However, the growth ratios show different results in assets and sales. Second, we identify that the investment amount of angel investors negatively affects on the startup's growth ratios. Lastly, we find that equity investment such as common stock or preferred stock and the individual angel investors such as personal investment association or professional angels show higher financial performance than bond investment or corporate angel investors. Overall, our findings imply that angel investors positively affect startup's financial performance. In particular, we infer that the superior financial performance is largely attributed to monitor startups by participating as shareholders or to select more carefully by the individual angel investors who may be exposed to more investment risk. In conclusion, our findings support that angel investors play a positive role in the Korean venture investment market.

• Journal of Digital Convergence
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• v.18 no.8
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• pp.435-446
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• 2020

The objectives of this study are to understand the factors composing the attributes of mobile social-commerce shopping mall and the characteristics of shopping mall business, and also to verify the effects of those attributes on the shopping satisfaction and shopping mall loyalty. The respondents participating in this study are the consumers who have experiences in purchasing fashion clothing in mobile social-commerce shopping mall within the last one year. The results of this study are as follows. First, the personally-customized service and convenience of shopping mall had positive effects on the social-commerce shopping satisfaction. Second, the personally-customized service and diversity of products had positive effects on the shopping mall loyalty. Third, the reputation of shopping mall of the characteristics of social-commerce shopping mall business had positive effects on the shopping satisfaction and shopping mall loyalty. This study above could provide the important implications for the establishment of marketing strategies for vitalizing the fashion clothing market of social-commerce shopping mall.

• The Journal of the Korea institute of electronic communication sciences
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• v.16 no.4
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• pp.735-742
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• 2021

Recently, renewable energy-related power generation facilities have been surging due to the government's "Renewable Energy 3020", "Green New Deal", "2050 Carbon Neutrality" and "K-RE100" policies. Most renewable energy facilities are small and distributed, making it difficult to manage efficiently, and small distributed resources less than 1MW are having a hard time with participating in the market due to the limited sales and avoidance of trading. In particular, the intermittency of renewable energy has a significant impact on the stability of the power grid. The government is seeking to address volatility and intermittency issues through 'small distributed resource brokerage trading, and to expand the systematic resourceization and acceptability of heterogeneous large and small distributed resources. In this work, we intend to apply an AI-based power generation prediction model to a distributed resource brokerage trading system so that it can be utilized as a foundation platform for pioneering new energy business markets.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.9 no.6
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• pp.1371-1378
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• 2005

Vertical e-Marketplaces have been expanded because of their enough funds and purchasing power, while horizontal e-Marketplaces have not been grown. On the e-Marketplace which is dealing electronic components with the characteristics of short life cycle and diversities, if an e-Marketplace participant holds a large quantity of the same kinds of components, it will result in lowering competitiveness of the company because of its unuseful inventory. Therefore, as a method for increasing competitiveness of e-Marketplace participants, we proposed the inventory sharing method among the participants, and then designed and implemented it in this paper. For providing inventory sharing function, the e-Marketplace system needs intermediary because each system of participants participating e-Marketplace uses its own DBMS respectively. In this paper, we implemented inventory sharing function using XML, which is a standard for exchanging data, as intermediary, and showed an example of the implemented system.

• Journal of Digital Convergence
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• v.15 no.1
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• pp.77-84
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• 2017

This study investigates the association between financial reporting strategy and the directors' and officers' liability insurance. Since D&O insurance protects officers and directors against the risks of shareholder litigation, it is possible that, because of moral hazard, managers will be more willing to participate in opportunistic financial reporting such as earnings manipulation when they are covered by a generous D&O insurance policy. This paper examines the association between D&O insurance and financial reporting, specifically whether the purchase of D&O insurance affects earnings manipulation. On the other side, the firms engage earnings management are willing to purchase D&O insurance, this study tests whether earnings manipulation affects D&O purchases using listed firms in Korean stock market from 2006 to 2008. This paper finds that firms with higher discretionary accruals are less likely to purchase D&O insurance implies that managers who are participating in earnings manipulation are not willing to purchase D&O insurance. The relation between discretionary accruals and D&O is significantly negative which indicate D&O insurance purchase does not trigger earnings manipulation rather it alleviates opportunistic reporting behavior.