• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.6
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• pp.143-154
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• 2018

This study is intended to look into the effects of SCM(supply chain management) competency and process improvement on operational performance in small and venture companies. To achieve this, a survey was empirically carried out to 179 small and venture manufacturing companies. The findings showed that the SCM competency had a significant effect on the process improvement and operational performance in small and venture companies, adopting all hypotheses. And the process improvement had a significant mediating effect on the relationship between SCM competency and operational performance in small and venture companies, adopting hypothesis 4. As for the findings, strategic alliance, technology development, competency concentration as SCM competencies and starting preparation, detailed planning, implementation management as process improvements were factors that have positive effects on quality performance, cost reduction and profit increase as operational performances in small and venture companies. In other words, the better process and performance by the maximized SCM competencies require selective input strategies for strategic alliance, technology development and competency concentration in small and venture companies. And for its early application and settlement, the starting preparation and detailed planning of business process within small and venture companies need to be jointly put in action under clear company-wide goal management. Consequently, the expected performance can be maximized when strict management and implementation lead to these attributes.

• Journal of Navigation and Port Research
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• v.44 no.6
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• pp.541-549
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• 2020

This study conducts differential analysis on the financial positions of Korean shipping companies before and after the bankruptcy of the H carrier, looking specifically at their financial ratios, profit and loss patterns, and other factors related to their financial operation. Firstly, it was discovered that major measures of financial health, such as average assets per carrier, were not affected by the bankruptcy of the H carrier. However, despite this, most carriers experienced large changes in profits and losses, with total sales and shipping revenues averaging 424.5 billion won and 381.7 billion won respectively before the bankruptcy, but falling by half to 252.1 billion won and 234.6 billion won after the bankruptcy. Additionally, charter revenues and expenses also dropped by more than half. EBIT/sales and pre-tax revenue margins were also heavily affected after the bankruptcy, with both figures averaging 8% and 3% respectively before the bankruptcy, but falling into the negative range at -2% and -8% post-bankruptcy, resulting in significant deterioration in operational profitability. The study concludes that there is an urgent need to establish a global sales network, improve cost structures, and consistently secure stable cargo in order to increase Korean carriers' profitability. Of all financial measures, liquidity and total asset efficiency were identified as the most severely-impacted by the H carrier bankruptcy, thereby requiring the most pressing policy addressing.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.3
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• pp.279-290
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• 2021

This study evaluated the economic feasibility of facility farms according to the introduction of the ultra-high density pot cultivation (UHDPC) for mango. The basic model was selected as a representative farmhouse case in the Jeonnam region, and seven scenarios for conventional crops were tested. The economic feasibility of crop switching was analyzed through partial budget analysis (PBA). The PBA analysis results were supplemented by adding a sensitivity analysis and a break-even point (BEP) analysis. As a result of the analyses, it was found that crop conversion was economical because the increase in the profit coefficient was greater than the increase in the loss coefficient due to the introduction of mango for all conventional crops. The economics of introducing mango was more sensitive to changes in gross income than to changes in cost items. The results show the detailed conditions of crop selection according to the conditions and preferences of individual farms by presenting the direction of increase and decrease by budget item and information on the amount of increase or decrease. In particular, the BEP analysis result, which is about half of the farms case, is significant in that it presents the minimum target value according to production and market risks.

• The Journal of the Korea Contents Association
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• v.21 no.6
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• pp.94-103
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• 2021

The purpose of this study investigates how game users' evaluation on a game company's CSR activities, perceived quality of game programs, and its brand assets affect the intention to game use. Specifically, this study tries to find out the causal relations among variables as testing the hypotheses. Firstly, the effect of users' evaluation on a game company's CSR activities and its qualities of game programs on the brand assets. Secondly, the effect of users' evaluation on a game company's CSR activities and its qualities of game programs on the intention to game use. Thirdly, the effect of users' evaluation on a game company's CSR activities, the qualities of game programs, and the brand assets on the intention to game use. 367 college students were administrated to the survey. The results indicate that game users' evaluation on economic, ethical, and philanthropic responsibilities, except legal one have an effect on brand assets and intention to game use. Specially, on effects of the three independent variables(CSR activities, perceived quality, and brand assets) toward intention to game use, ethical responsibility and brand loyalty have statistically significant. This result confirms that game company's board of directors should consider ethical company management as well as CSR activities not as cost but as investment for increasing company's business profit.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.3
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• pp.1-12
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• 2021

Technologies for an MVDC(medium voltage direct current) distribution system are being considered as an effective alternative to overcome the interconnection delay issues of PV systems. However, the implementation of a DC distribution system might lead to economic problems because of the development of DC devices. Therefore, this paper deals with the scale of a PV plant based on its capacity and proposes hosting-capacity models for PV systems to establish a network to evaluate the feasibility of an MVDC distribution system. The proposed models can be classified as AC and DC distribution systems by the power-supply method. PV systems with hundreds of MW, dozens of MW, and a few MW can be categorized as large-scale, medium-scale, and small-scale models, respectively. This paper also performed modeling for an economic evaluation of MVDC distribution system by considering both the cost of AC and DC network construction, converter replacement, operation, etc. The profit was composed of the SMP and REC rate of a PV plant. A simulation for economic evaluation was done for the MVDC distribution system using the present worth and equal-principal costs repayment method. The results confirmed that the proposed model is a useful tool to evaluate economic issues of a DC distribution system.

• Korean Journal of Construction Engineering and Management
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• v.23 no.5
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• pp.108-116
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• 2022

Started in 1989 as Public Permanent Rental Housing scheme, public rental housing lease policy is increasing target residents and supply in each government by introducing new supply types. However, public housing business entities have difficulties in expanding the supply due to cumulated deficit. The research suggested long-term public rental housing reconstruction business as a method to preserve the cumulated deficit from the previous. Minimum floor area ratio mathematical model was suggested by defining the floor area ratio of reconstruction business as minimum, since housing sales profit after reconstruction could preserve aggregated deficit, and mathematically approached by considering the traits of long-term public rental housing reconstruction. The determinant for minimum floor area ratio mathematical model comprise cumulated deficit of the existing long-term public rental housing, land size of reconstructed sale housing, housing sales price per unit area, and business cost per unit area. Minimum floor area ratio mathematical model is expected to be the milestone for supporting decision making regarding the economic part of old long-term public lease housings' reconstruction scale, and expanding housing supply within urban area.

• The Journal of the Convergence on Culture Technology
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• v.8 no.6
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• pp.655-660
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• 2022

This paper analyzes the problem of the economic order quantity (lot size) of a retailer in a two-stage supply chain consisting of a supplier, a retailer(distributor), and a customer. In this two-stage supply chain, the supplier permits the retailer to defer payment for a certain fixed period of time for the purchase cost to be paid by the retailer as a price differentiation strategy with his competitor. In addition, in the case of customer goods such as food and grain, it is common to see that end-customer demand is generally depend on the level of inventory displayed by the retailer. From this perspective, this paper analyzes the inventory problem of retailers under the assumption that the supplier may allow a certain period to suspend payments for the purchase of goods and the end customer demand is a function of the retailer's inventory level increasing with size. In this regard, we need to analyze how much the length of the grace period for product purchase costs affect the retailer's lot-sizing policy. Therefore, we formulate the retailer's annual net profit and analyze the effect of the length of credit period on the retailer's inventory policy numerically.

• Journal of Distribution Science
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• v.9 no.1
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• pp.17-27
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• 2011

As the world becomes more globalized, business competition becomes fiercer, while consumers' needs for less expensive quality products are on the increase. Business operations make an effort to secure a competitive edge in costs and services, and the logistics industry, that is, the industry operating the storing and transporting of goods, once thought to be an expense, begins to be considered as the third cash cow, a source of new income. Logistics centers are central to storage, loading and unloading of deliveries, packaging operations, and dispensing goods' information. As hubs for various deliveries, they also serve as a core infrastructure to smoothly coordinate manufacturing and selling, using varied information and operation systems. Logistics centers are increasingly on the rise as centers of business supply activities, growing beyond their previous role of primarily storing goods. They are no longer just facilities; they have become logistics strongholds that encompass various features from demand forecast to the regulation of supply, manufacturing, and sales by realizing SCM, taking into account marketability and the operation of service and products. However, despite these changes in logistics operations, some centers have been unable to shed their past roles as warehouses. For the continuous development of logistics centers, various measures would be needed, including a revision of current supporting policies, formulating effective management plans, and establishing systematic standards for founding, managing, and controlling logistics centers. To this end, the research explored previous studies on the use and effectiveness of logistics centers. From a theoretical perspective, an evaluation of the overall introduction, purposes, and transitions in the use of logistics centers found issues to ponder and suggested measures to promote and further advance logistics centers. First, a fact-finding survey to establish demand forecast and standardization is needed. As logistics newspapers predicted that after 2012 supply would exceed demand, causing rents to fall, the business environment for logistics centers has faltered. However, since there is a shortage of fact-finding surveys regarding actual demand for domestic logistic centers, it is hard to predict what the future holds for this industry. Accordingly, the first priority should be to get to the essence of the current market situation by conducting accurate domestic and international fact-finding surveys. Based on those, management and evaluation indicators should be developed to build the foundation for the consistent advancement of logistics centers. Second, many policies for logistics centers should be revised or developed. Above all, a guideline for fair trade between a shipper and a commercial logistics center should be enacted. Since there are no standards for fair trade between them, rampant unfair trades according to market practices have brought chaos to market orders, and now the logistics industry is confronting its own difficulties. Therefore, unfair trade cases that currently plague logistics centers should be gathered by the industry and fair trade guidelines should be established and implemented. In addition, restrictive employment regulations for foreign workers should be eased, and logistics centers should be charged industry rates for the use of electricity. Third, various measures should be taken to improve the management environment. First, we need to find out how to activate value-added logistics. Because the traditional purpose of logistics centers was storage and loading/unloading of goods, their profitability had a limit, and the need arose to find a new angle to create a value added service. Logistic centers have been perceived as support for a company's storage, manufacturing, and sales needs, not as creators of profits. The center's role in the company's economics has been lowering costs. However, as the logistics' management environment spiraled, along with its storage purpose, developing a new feature of profit creation should be a desirable goal, and to achieve that, value added logistics should be promoted. Logistics centers can also be improved through cost estimation. In the meantime, they have achieved some strides in facility development but have still fallen behind in others, particularly in management functioning. Lax management has been rampant because the industry has not developed a concept of cost estimation. The centers have since made an effort toward unification, standardization, and informatization while realizing cost reductions by establishing systems for effective management, but it has been hard to produce profits. Thus, there is an urgent need to estimate costs by determining a basic cost range for each division of work at logistics centers. This undertaking can be the first step to improving the ineffective aspects of how they operate. Ongoing research and constant efforts have been made to improve the level of effectiveness in the manufacturing industry, but studies on resource management in logistics centers are hardly enough. Thus, a plan to calculate the optimal level of resources necessary to operate a logistics center should be developed and implemented in management behavior, for example, by standardizing the hours of operation. If logistics centers, shippers, related trade groups, academic figures, and other experts could launch a committee to work with the government and maintain an ongoing relationship, the constraint and cooperation among members would help lead to coherent development plans for logistics centers. If the government continues its efforts to provide financial support, nurture professional workers, and maintain safety management, we can anticipate the continuous advancement of logistics centers.

• The Korean Journal of Air & Space Law and Policy
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• v.35 no.2
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• pp.75-111
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• 2020

The civilian drone world has evolved in recent years from one dominated by hobbyists to growing involvement by companies seeking to profit from unmanned flight in everything from infrastructure inspections to drone deliveries that are already subject to regulations. Drone flight under the property right relation with the land owner would be deemed legal on the condition that expeditious and innocent passage of drone flight over the land be assured. The United Nations Convention on the Law of the Sea (UNCLOS) enshrines the concept of innocent passage through a coastal state's territorial sea. Passage is innocent so long as it is not prejudicial to the peace, good order or security of the coastal state. A vessel in innocent passage may traverse the coastal state's territorial sea continuously and expeditiously, not stopping or anchoring except in force majeure situations. However, the disturbances caused by drone flight may be removed, which is defined as infringement against the constitutional interest of personal rights. For example, aggressive infringement against privacy and personal freedom may be committed by drone more easily than ever before, and than other means. The cost-benefit analysis, however, has been recognjzed as effective criteria regarding the removal of disturbances or injunction decision. Applying that analysis, the civil action against such infringement may not find suitable basis for making a good case. Because the removal of such infringement through civil actions may result in only the deletion of journal article. The injunction of drone flight before taking the information would not be obtainable through civil action, Therefore, more detailed and meticulous regulation and criteria in public law domain may be preferable than civil action, at present time. It may be suitable for legal stability and drone industry to set up the detailed public regulations restricting the free flight of drone capable of acquiring visual information amounting to the infrigement against the right of personal information security.

• Journal of Applied Tourism Food and Beverage Management and Research
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• v.8
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• pp.89-121
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• 1997

Many of the measures and policies advocated by supply-siders, such as lower taxation, less government intervention, more freedom from restrictive legislation and regulation, and the need for increased productivity can be found in writing the classical economist. Nor is supply-side economics a complete divorcement from Keynesian analysis. In both camps the objectives are the same-high level employment, stable prices and healthy economic growth, the means or suggestions for attaining the objectives, however, differ. Consequently, recommended economic policies and measures are different. keynesians rely primarily on the manipulation of effective demand to increase output and employment and to combat inflation. They assume ample resources to be available in order that supply will respond to demand. The supply-siders emphasize the need to increase savings, investment, productivity and output as a means of increasing income. Supply-siders assume that the increase in income will lead to an increase in effective demand. Keynesians suggest that savings, particularly those not invested, dampen economic activity. Supply-siders hold that savings, or at least an increase in after-tax income, stimulates work effort and provides funds for investment. Perhaps keynesians are guilty of assuming that most savings are not going to be invested, whereas supply-siders may erroneously assume that almost all savings will flow into investment and/ or stimulate work effort. In reality, a middle ground is possible. The supply-siders stress the need to increase supply, but Keynes did not preclude the possibility of increasing economic activity by working through the supply side. According to Keynes' aggregate demand-aggregate supply framework, a decrease in supply will increase output and employment. It must be remembered, however, that Keynes' aggregate supply is really a price. Lowering the price or cost of supply would there by result in higher profit and/ or higher output. This coincides with the viewpoint of supply-siders who want to lower the cost of production via various means for the purpose of increasing supply. Then, too, some of the means, such as tax cuts, tax credits and accelerated depreciation, recommended by suply-siders to increase productivity and output would be favored by Keynesians also as a means of increasing investment, curbing costs, and increasing effective demand. In fact, these very measures were used in the early 1960s in the United State during the years when nagging unemployment was plaguing the economy. Keynesians disagree with the supply-siders' proposals to reduce transfer payments and slow down the process of income redistribution, except in full employment inflationary periods. Keynesians likewise disagree with tax measures that favored business as opposed to individuals and the notion of shifting the base of personal taxation away from income and toward spending. A frequent criticism levied at supply-side economics is that it lacks adequate models and thus far has not been quantified to any great extent. But, it should be remembered that Keynesian economics originally was lacking in models and based on a number of unproved assumptions, such as, the stability of the consumption function with its declining marginal propensity to consume. Just as the economic catastrophe of the great depression of the 1930s paved the way for the application of Keynesian or demand-side policies, perhaps the frustrating and restless conditions of the 1970s and 1980s is an open invitation for the application of supply-side policies. If so, the 1980s and 1990s may prove to be the testing era for the supply-side theories. By the end of 1990s we should have better supply-side models and know much more about the effectiveness of supply-side policies. By that time, also, supply-side thinking may be more crystallized and we will learn whether it is something temporary that will fade away, be widely accepted as the new economics replacing Keynesian demand analysis, or something to be continued but melded or fused with demand management.