• Journal of Korea Technology Innovation Society
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• v.14 no.2
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• pp.177-204
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• 2011

Recently the government expands its investment in basic research to overcome the limit of technology catch-up strategy. At this point, Korea's R&D supporting system needs to be evaluated whether it is appropriate to support creative basic research. Therefore, this study approaches to analyze the cases of basic research supporting system about the characteristics of basic research and necessary systematic requirements. This research discussed the necessity for introducing the paradigm of policy management system of basic research. Also it found that the performance of basic research is very important element for the effectiveness of research itself as well as continuous appropriacy of the system.

• Asian Journal of Innovation and Policy
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• v.10 no.3
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• pp.355-379
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• 2021

This study examined the evolution of S&T Basic Acts in Korea from the Science and Technology Promotion Act (1967) through the Special Act on STI (1997) to the Framework Act on Science and Technology (2001) in the following aspects: 1) comprehensive plans, 2) coordination mechanisms for S&T policies, 3) enforcement of R&D programs and performance diffusion, 4) promotion of human resources, 5) and S&T investment and budgeting. Before the Framework Act on S&T was enacted in 2001, critical issues were found in establishing S&T master plans, promotion of R&D programs, comprehensive coordination mechanisms, and R&D budgeting. The three Basic Acts have expanded the scope of regulation over time to cover the entire cycle of the S&T process. They concern a wide range of issues, including creating a basis for scientific and technological development, S&T promotion, disseminating and commercializing research outcomes, and preventing adverse effects from science and technology. The content of the Basic Acts has evolved in response to changes in the political, economic, and social environment of Korean industry during the past five decades.

• Journal of Technology Innovation
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• v.30 no.3
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• pp.1-34
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• 2022

This study examines the effect of CEO age on the value relevance of R&D which is the relationship between R&D expenditures and firm value. The value relevance of R&D expenditures is higher in companies with current older CEOs, while the relationship in companies with younger CEOs is lower than that of other companies. These results suggest that older CEOs tend to be conservative and make prudent R&D investment decisions. Because they make systematic investment decisions with rich experience, they are expected to have higher investment performance in the market. On the other hand, young CEOs choose risky investments in order to have their abilities highly evaluated in the labor market. The market places a high degree of risk on the R&D decision-making of young CEOs. Next, we analyze whether the age of the replaced CEOs affects the relationship between R&D expenditures and firm value. The result shows that the change of management increases the effect of R&D expenditure on firm value. However, in the case of being replaced by a younger CEO, this positive relationship becomes lower than that of other companies, showing results consistent with the case of the current younger CEO. The samples are analyzed by dividing them into conglomerates and non-conglomerates. In conglomerates, the age of the replaced CEOs does not affect the value relevance of R&D expenditures. Only non-conglomerates showed a negative (-) effect on the replaced younger CEOs. These results suggest that conglomerates maintain the stability of R&D management and performance so that the performance of R&D expenditures is not significantly affected by the age of the replaced CEOs. The reason is that mutual checks and support are coordinated within the group through decentralization of work and systematization of decision-making. This study shows evidence that the relationship between R&D expenditure and firm value according to the age of the replaced CEO is a phenomenon that only occurs in non-conglomerates. This phenomenon suggests that conglomerates are stably managing their R&D performance regardless of the change of CEOs or the characteristics of the CEOs.

• Journal of Korean Society of Disaster and Security
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• v.7 no.1
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• pp.35-42
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• 2014

This research has been shown the Research Plan for R&D Long-term Load-map Design in the Facility Disaster on response of the changing Disaster Environment, Showing the Strategy for the extending investment method of the technical development and related on that the advanced nation's technical level gap is minimized in the same area, Designing for the business' high-level, long-term load-map and the core driving strategy of the safety technology development business in the facility disaster, RFP Documentation on the core driving Business and the detailed driving Issue. This research has been resulted the three lists, trend analysis and Vision of the Technology Research Development (R&D) of the Safety Technology Area in domestic and foreign, the Responding Technology Predict and the Extended Research Strategy of the Next Generation Safety Technology in the facility Disaster, long-mid Term Road-Map of the Safety Technology in the facility Disaster, finally the Action Issue's RFP of the Safety Technology in the facility Disaster.

• Journal of Intelligence and Information Systems
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• v.26 no.3
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• pp.127-147
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• 2020

The world is suffering from numerous human and economic losses due to the novel coronavirus infection (COVID-19). The Korean government established a strategy to overcome the national infectious disease crisis through research and development. It is difficult to find distinctive features and changes in a specific R&D field when using the existing technical classification or science and technology standard classification. Recently, a few studies have been conducted to establish a classification system to provide information about the investment research areas of infectious diseases in Korea through a comparative analysis of Korea government-funded research projects. However, these studies did not provide the necessary information for establishing cooperative research strategies among countries in the infectious diseases, which is required as an execution plan to achieve the goals of national health security and fostering new growth industries. Therefore, it is inevitable to study information services based on the classification system and classification model for establishing a national collaborative R&D strategy. Seven classification - Diagnosis_biomarker, Drug_discovery, Epidemiology, Evaluation_validation, Mechanism_signaling pathway, Prediction, and Vaccine_therapeutic antibody - systems were derived through reviewing infectious diseases-related national-funded research projects of South Korea. A classification system model was trained by combining Scopus data with a bidirectional RNN model. The classification performance of the final model secured robustness with an accuracy of over 90%. In order to conduct the empirical study, an infectious disease classification system was applied to the coronavirus-related research and development projects of major countries such as the STAR Metrics (National Institutes of Health) and NSF (National Science Foundation) of the United States(US), the CORDIS (Community Research & Development Information Service)of the European Union(EU), and the KAKEN (Database of Grants-in-Aid for Scientific Research) of Japan. It can be seen that the research and development trends of infectious diseases (coronavirus) in major countries are mostly concentrated in the prediction that deals with predicting success for clinical trials at the new drug development stage or predicting toxicity that causes side effects. The intriguing result is that for all of these nations, the portion of national investment in the vaccine_therapeutic antibody, which is recognized as an area of research and development aimed at the development of vaccines and treatments, was also very small (5.1%). It indirectly explained the reason of the poor development of vaccines and treatments. Based on the result of examining the investment status of coronavirus-related research projects through comparative analysis by country, it was found that the US and Japan are relatively evenly investing in all infectious diseases-related research areas, while Europe has relatively large investments in specific research areas such as diagnosis_biomarker. Moreover, the information on major coronavirus-related research organizations in major countries was provided by the classification system, thereby allowing establishing an international collaborative R&D projects.

• Smart Media Journal
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• v.9 no.3
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• pp.130-141
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• 2020

The drone market in Korea is growing with a focus on the use of prevention, defense, exploration and surveying, search and rescue, video shooting, and facility management. However, the foreign dependence on drone's core technologies and components is high. Drone-powered countries such as the US and China are expanding the weaponization of drones, which can intensify trade wars between countries, such as strengthening import and export regulations and monopoly. Therefore, Korea should put R & D and localization of core technology, parts, and accessories of next generation drone first. For this, policy research and investment in infrastructure, equipment, and research personnel should be preceded. This study studied the evaluation of investment priorities by infrastructure sector (facility equipment, utilization field, and demand manpower) to foster small drone companies through literature studies. To this end, we expanded and reclassified e isting research, developed investment prioritization indicators through expert group interviews and reviews, derived future uncertainties, and selected investment priorities by infrastructure sector using AHP techniques. Finally, it proposed an infrastructure construction strategy to foster small drone companies in terms of drone development support, utilization support.

• Journal of the Economic Geographical Society of Korea
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• v.12 no.4
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• pp.438-453
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• 2009

Attracting advanced foreign enterprises into the less-developed regions has gained increasing importance as a regional development strategy in Korea. This study critically examines the foreign-direct investment-led regional development strategy of Wales, United Kingdom. Despite a high FDI inflow in manufacturing, the Welsh regional economy has suffered from specialization in low-skilled assembly with limited R&D activities, insufficient linkage with local domestic suppliers, and violent fluctuation in local employment in response to changes within the global business environment. This tendency shows that the foreign-invested companies have neither locally embedded themselves enough nor created the external agglomeration economies in the region. At the same time, the Welsh local government's excessive dependence on financial incentives packages to induce multinationals, rather than effort to create regional innovative capacity, has resulted in a sizable fiscal loss, an abused local planning process, and subordination of the local government's major administrative decision-making on foreign investors. The Welsh FDI case suggests that an effective FDI attraction policy should include inter-regional cooperation and coordination in the inward investment attraction procedure, a comprehensive land use planning process, and state-level concrete governance on FDI.

• Journal of Korea Technology Innovation Society
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• v.17 no.4
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• pp.786-819
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• 2014

Emphasizing the importance of R&D as a source of open innovation, Korean government is developing various programs focused on technology commercialization and is expanding investment on it. In spite of those efforts, technology commercialization is not vitalized yet due to the lack of demand for technology transfer, R&D planning scheme without considering market, immaturity of technology market, and so on. This study aims to suggest the business ecosystem model so that technology commercialization could be facilitated based on business ecosystem perspective. We set the framework for modeling a business ecosystem through reviewing the previous works, and draw several problems to be solved regarding public R&D commercialization in Korea from the perspective of ecosystem. Considering those, this research proposes the business ecosystem model for public R&D commercialization as a reference model for describing, discussing, and developing the technology commercialization strategy. The proposed model consists of 4 domains as follows: R&D, technology market, information distribution channels, and customers. The business ecosystem model shows that technology commercialization could be facilitated to create the market value through close relationship and organic cooperation among its members that form the ecosystem. Public research institutes as a keystone player could control the fate of the ecosystem. In this regard, this paper suggests roles of public research institutes for evolving the business ecosystem.

• The Journal of Industrial Distribution & Business
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• v.12 no.3
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• pp.43-49
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• 2021

Purpose: This study attempted to examine the risk of stock price plunge according to the firm's management strategy. Prospector firms value innovation and have high uncertainties due to rapid growth. There is a possibility of lowering the quality of financial reporting in order to meet market expectations while withstanding the uncertainty of the results. In addition, managers of prospector firms enter into compensation contracts based on stock prices, thus creating an incentive to withhold negative information disclosure to the market. Prospector firms' information opacity and delays in disclosure of negative information are likely to cause a sharp decline in share prices in the future. Research design, data and methodology: This study performed logistic analysis of KOSPI listed firms from 2014 to 2017. The independent variable is the strategic index, and is calculated by considering the six characteristics (R&D investment, efficiency, growth potential, marketing, organizational stability, capital intensity) of the firm. The higher the total score, the more it is a firm that takes a prospector strategy, and the lower the total score, the more it is a firm that pursues a defender strategy. In the case of the dependent variable, a value of 1 was assigned when there was a week that experienced a sharp decline in stock prices, and 0 when it was not. Results: It was found that the more firms adopting the prospector strategy, the higher the risk of a sharp decline in the stock price. This is interpreted as the reason that firms pursuing a prospector strategy do not disclose negative information by being conscious of market investors while carrying out venture projects. In other words, compensation contracts based on uncertainty in the outcome of prospector firms and stock prices increase the opacity of information and are likely to cause a sharp decline in share prices. Conclusions: This study's analysis of the impact of management strategy on the stock price plunge suggests that investors need to consider the strategy that firms take in allocating resources. Firms need to be cautious in examining the impact of a particular strategy on the capital markets and implementing that strategy.

• Journal of Haehwa Medicine
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• v.20 no.2
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• pp.141-153
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• 2012

Nowadays, the humankind's lives are affluent enough and the modern medical cure systems have made the humans' lives much longer. In spite of the modern medical development, the chronic & regressive diseases are rapidly increasing ironically. In this regards, many countries endeavoring to rely on the traditional or CAM instead of Conventional and Modern Medicines. The late Steve Jobs who sought for the natural therapy for his pancreatic cancer was one representative example. Every countries are investing huge amount of money to become the leader in the CAM market. Moreover, by preoccupying the world-wide standards, each country is trying to grab the market monopoliy. In this thesis, I examined several coutries' CAM markets and their CAM development strategies. These strategies should be considered for the KTM development Strategy. Fortunately, KTM has doing the main role in the Korean CAM development strategy. But to become the world leader in CAM market, the governmental committee should be established and the Financial Investment and Aid Program should be followed. It is very important to obtain the world standards. To do so, the R&D capability should be enhanced also. The world trends in CAM should be scrutinized and the Government Agency - Scholartic Group - Research institute have to cooperate for the same target.