• Proceedings of the Technology Innovation Conference
• /
• 2002.06a
• /
• pp.203-223
• /
• 2002

In Korea, Public Research Institutes(PRIs) are today faced with the challenges of creating values by transferring technologies in store within themselves to private commercial sector. Recently, It has been increasingly pointed out that PRIs have the poor capability to valuate prospective technologies of their own, and don't run the reasonable technology transfer mechanism in terms of establishing royalty rate and initial payment, designing remuneration to inventor, screening qualified licensee, and controlling the moral hazard. This paper develops an enhanced mathematical model of technology transfer from a PRI to a private industrial firm with including the inventor as an important player. The model is made up of the main part which derives the optimal royalty rate by maximizing the social welfare and sharing risk fairly between players and some sub-parts. The one sub-part is a principal-agent model which makes it possible to control the moral hazard of inventors, and the other part provides the criteria for screening appropriate licensees. Moreover, the moral hazard between inventor and licensee is addressed by introducing the cost reduction function of efforts exerted by them. The model is able to relate the optimal royalty rate to the parameters that represent the environments under which the concerned parties operate. Especially, the ratio of initial payment over the value of transferred technology is calculated from the binding relation with the royalty rate. The paper shows that the model suggested here is more enhanced by comparing with the existing technology transfer mechanism. Finally, the paper allows us to find better strategies for effective technology transfer and further develop more sophisticated technology transfer model.

• Review of Korean Society for Internet Information
• /
• v.14 no.3
• /
• pp.68-77
• /
• 2013

This article consists of 3 parts. Part I is multi stakeholder approach on Internet governance system. Part II is analysis of the Korean Internet governance system. In this part, I explain relevant laws in Korea, including Korean Internet Address Resources Act. Part III is my suggestion on Korean Internet governance system using a multi stakeholder approach. First of all, the keyword of the Internet governance system is decision making process: that is, consensus based versus top-down approach. Then who are major players in Internet governance in national level? Government, or Private sectors such as business and civil society. Korean legal system for Internet governance shows a top-down decision making process. Major players are the government (that is, Ministry of Science, ICT and Future Planning) and KISA affiliated with the government. Other players include Internet Address Policy Committee, Korea Internet Governance Alliance, and NGOs. The key statute for Internet governance in Korea is Internet Address Resources Act of 2004. Articles 3 and 5 require the Ministry of Science, ICT and Future Planning to take a proactive role in Internet governance. The government shall consult with the Internet Address Policy Deliberation Committee for Internet governance. Yet this Committee is established under the control of the Ministry of Science, ICT and Future Planning. All members of this Committee are also commissioned or nominated by the Chairman of the Ministry. Meanwhile, there are also non-official organizations, including Sub-committee on Address & Infrastructure of Korea Internet Governance Alliance. I suggest to reform decision making process of Korean Internet governance system based on BOTTOM-UP process for CONSENSUS BASED DECISION. My suggested system includes the following: (1) The government hands over a major role in Internet governance to INDEPENDENT Internet policy organization. And the government participates in such organization as ONE of the players. (2) Nomination of this committee member must be bottom-up process for a genuine multi-stakeholder model including civil society, commercial organization, end-users and experts. (3) The government should establish plan for supporting the private sector's international activity on the long-term basis.

• Journal of Technology Innovation
• /
• v.31 no.3
• /
• pp.1-37
• /
• 2023

The Korean innovation ecosystem has evolved from a catch up stage to a creative leader stage where government's role in creating a private sector driven, healthy and dynamic ecosystem is important. Korea's innovation ecosystem shows a stagnation of innovation performance and a lack of linkage activities within the national innovation ecosystem and in global cooperation, despite the dramatic advancement and expansion of the ecosystem. A next-generation innovation ecosystem model is required to create a future-oriented innovation ecosystem. The next generation innovation ecosystem was prepared on the basis of the framework, which has 6 elements among which inter-firm network is the the micro-foundation of the ecosystem. On the basis of the framework, assuming that the next generation innovation ecosystem is the evolved existing ecosystem, responsive the discontinuous change in market and technology, which is private sector driven healthy and dynamic ecosystem, the next generation innovation ecosystem model was created. The concrete details on the direction of the policy entities responsible for building the ecosystem was presented, and the contribution of this study was discussed.

• 한국공간정보시스템학회:학술대회논문집
• /
• 2005.05a
• /
• pp.351-354
• /
• 2005

NASA's remote sensing market analysis and forecast projects 3.3 billion dollars in 2005. On the other hand, a market research firm expected that world commercial remote sensing imagery, GIS software, Data, and value-added services will generate 8.3 billion dollar in 2007. It has been widely believed that geo-spatial information and service market is growing rapidly and has a huge potential, but it is not clearly understood where it is now and will be heading in the future. Also, it could be a significant question to answer where the industry in Korea fits the best in the world business trends and where it should be strategically heading to take a large market share. Furthermore, if it could be worth being considered as a Korean strategic industry for the future. Instead of pursuing direct answers to the questions, the author will start reviewing general business practices, major business transactions such as merging and acquisitions (M&A's) and initial public offerings (IPO's), and research on market capitalization and revenue of major companies. Throughout the study, a list of common grounds in the market was uncovered and realized as follows: (1) value-added data matters in geo-spatial information and service market; (2) private sector grows faster; (3) characteristics of multi-national industry; and (4) Dependency on major industry. Based on the findings, the author presents a list of recommendations as conclusions.

• International Journal of Quality Innovation
• /
• v.9 no.2
• /
• pp.11-30
• /
• 2008

The purpose of this study is to develop BSC model of social enterprise. Performance analysis tool of BSC have been brought over from the business world, designed and created from the perspectives of profit-based businesses. The BSC is a strategic performance measurement and management tool designed for the private sector acting as a communication/information and learning system, to measure 'where we are now' and 'where to aim for next'. It prescribes a plan for translating 'vision' and 'strategy' into concrete action across four perspectives at different stages, depending on the business. These perspectives are 'financial', 'customer', 'internal processes' and 'learning and growth', each of which is connected by cause-and-effect relationships that reflect the firm's strategy. Social aims of social enterprise are to accomplish desired outcomes which are to employ vulnerable people and to provide social services. The measurement factors of financial perspective are stable funding, efficiency of budgeting, stakeholders' financial supports, and trade profit. The measurement factors of customer perspective are government, social service users, employees, local communities, sup plier, social activity company, and partnership with external organizations. The measurement factors of internal process perspective are organizational culture, organizational structure/management, internal/external communication, quality of products and services, information sharing. The measurement factors of learning and growth perspective are training and development, management participation, knowledge sharing, leadership of CEO and manager, and learning culture.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.33
• /
• pp.63-89
• /
• 2007

The UCP is an authoritative compilation of the customs and practice of letters of credit observed by most of the participants in the transaction. It remains the most successful set of private rules for trade ever developed. First issued in 1933, the UCP has been through five revisions, the latest being the present UCP 500, which came into force in 1994. Since 1994, new developments in transport, insurance, electronic commerce and banking industry have spurred the current revision of the rules. The ICC Banking Commission approved UCP 600 on October 25, 2006 by a unanimous vote of 91 to 0. The revision, which will come into effect on July 1, 2007, incorporates a number of changes from UCP 500 as follows : UCP 600 has a leaner set of rules, with 39 articles rather than 49 articles of UCP 500; New sections on "definitions" and "interpretations" have been added to clarify the meaning of ambiguous terms; The phrase "reasonable time" for acceptance or refusal of documents has been replaced by a firm period of five banking days; UCP 600 allows for the discounting of deferred payment credits. However, UCP 600 has two main problems such as the inconsistency with insurance industry and the banking community-oriented rules. We have some months before the commencement of UCP 600. From today to the commencement of UCP 600, we should study the full contents of UCP 600 and the influences on the trade industry.

• Journal of Families and Better Life
• /
• v.26 no.5
• /
• pp.27-37
• /
• 2008

The main objective of this study was to examine the effects of family-friendly culture in various organizations in the private sectors on employee self-reported work-family balance and qualities of lives. It also attempted to clarify whether employee perceived work-family culture would vary according to size and type of organization, gender, and dual career partnership. The data came from 365 married full-time workers employed in a wide variety of organizations located in Seoul and GyeongGi-Do. The major findings of this study were as follows: Work-family culture was perceived more family-friendly in large-sized organizations and consumer industries. Female employees and workers in dual-career partnerships perceived the work-family culture of their organizations less family-friendly. The hierarchical multiple regression analyses revealed that firm size, supervisory support for employees' family activities, and the perception of negative career development opportunities as a consequence of utilizing family-friendly policies significantly predicted employees' work-family balance and qualities of lives, while organizational time demands having no significant effects on them. The implications of study results were discussed.

• KDI Journal of Economic Policy
• /
• v.39 no.1
• /
• pp.1-18
• /
• 2017

This paper empirically studies the effect of public procurement on small and medium-sized enterprises (SMEs) in the Republic of Korea using firm-level data. Public procurement, the purchase of goods and services from private firms by the public sector, is regarded as an important policy measure for providing support to firms, particularly SMEs. This study uses establishment-level panel data of the mining and manufacturing sectors from the Korean National Bureau of Statistics (Statistics Korea) and procurement history from the Korean Public Procurement Service to empirically estimate the effects of public procurement on firms' productivity (total factor productivity) and survivability. Using a propensity score matching estimation method, we find that participating firms showed higher productivity than non-participating ones in the control group only for the year of participation, that is, 2009. After two years, in 2011, they exhibited significantly lower productivity. In contrast, establishments that participated in public procurement for SMEs in 2009 were more likely to survive than those that did not do so in 2011. These results can be interpreted as the negative consequences of government intervention. The market's efficiency enhancement is hindered if underserving companies survive owing to government intervention but fail to improve efficiency.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.9
• /
• pp.51-61
• /
• 2020

This research investigates the consequences of the increase in corporate use of short-term debt in China over the past decades. Using a sample of Chinese firms from 2007 to 2018, we empirically explore the effect of corporate use of short-term debt for long-term investment (SFLI) on audit pricing. We first examine the relationship between SFLI and audit pricing for different groups of firms. Then, we investigate the role of the increase in short-term debt in alleviating principal-agent conflicts and reducing agency costs. We have four primary empirical findings. First, auditors tend to charge SFLI clients higher fees. Second, the negative relationship between SFLI and audit fee is found in private firms, firms audited by Chinese domestic auditors, and firms with higher information asymmetry. Third, the time auditors spent on SFLI clients is significantly more than that spent on non-SFLI clients, suggesting that the decrease in audit fee is not due to the decrease in cost. Fourth, SFLI significantly reduces the agency costs of the firm, which auditors regard as a low risk signal and grant an audit fee discount. Our findings suggest that the decrease in debt maturity, not only influences managerial behaviors, but also influences auditors' risk assessment and pricing decisions.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.12 no.12
• /
• pp.5558-5563
• /
• 2011

Using longitudinal data of 108 firms in large business conglomerates from 2001 to 2009, this study examines the impact of controlling shareholders' control-ownership disparity on R&D investment. The study finds that control-ownership disparity is negatively related to R&D intensity. This empirical result suggests that controlling shareholders' control rights in excess of ownership rights incent controlling shareholders' expropriation for their private interests, leading to decreased R&D investment which enhances firm value in the long term.