• Journal of Food Hygiene and Safety
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• v.28 no.2
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• pp.115-123
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• 2013

Food safety management should be based on scientific evidences. FAO and WHO presented risk analysis as one of four principles in food safety management. WTO also admits the self safety regulation only when it is made on the basis of risk assessment. Without scientific analysis, tracing and eliminating the cause of food poisoning is impossible. Research and development plays a key role to produce scientific evidences. The Korean government ran over 40 programs in 11 agencies from 2008 to 2010. However, there is no statistics on food safety R&D at present. In this research, food safety projects conducted from 2008 to 2010 are listed up by means of analysing National Science and Technology Information Service (NTIS). The analytical criteria are the name of programs, national standard classification of science and technology, and keywords. As result, Korea Food and Drug Administration, Ministry for Food, Agriculture, Forestry and Fisheries, and Rural Development Administration play major role in the food safety R&D. The portion of more than one year projects should rise up in order to achieve the data for risk assessment, which is strongly required to improve. Besides, the research should be deeper so as to publish more SCI papers. The R&D portfolio should be changed in direction to raise up the portion of biological hazards such as norovirus. In order to do so, a large number of food safety programs should be emerged. The categories of food safety management and the hygiene/quality management of the agricultural and livestock products in the national standard classification of science and technology should be emerged because they are set up reflecting agencies' interests in spite of few differences between them.

• Journal of the Korea Institute of Military Science and Technology
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• v.12 no.3
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• pp.299-308
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• 2009

In this paper, we have developed an evaluation model of technology green index(TGI) which includes 3 evaluation factors and 13 indicators. Furthermore, as presenting the degree of relative importance among evaluation factors and indicators for all R&D evaluation stages and all green technology areas, and applying the proposed model to 5 defense projects, we have found applicability of the model to evaluation of defense R&D projects. The results of evaluation using this model can be used to monitor the performance of project life cycle and develop R&D investment strategy of green technology using portfolio analysis.

• Journal of Technology Innovation
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• v.22 no.3
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• pp.167-191
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• 2014

This study emphasizes the importance of the mission concept in managing the public programs by the government rather than the existing quantitative output. To this end, a case study for 7 representative National R&D Programs in Korea is presented, based on the program portfolio model using the mission construct suggested by the prior researches, in order to give its empirical validity and strategic meaning. For the case analysis, the study devises the measures to evaluate the level of the mission in a program in the aspect of achievement and appropriateness. Real data collected from NTIS are analyzed in two ways: static and dynamic perspectives. The first is conducted by differences of mission values among programs and the latter by yearly differences. Finally, it concludes the implication and the shortcoming of the study.

• Journal of Korea Technology Innovation Society
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• v.21 no.4
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• pp.1268-1295
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• 2018

This study examines the effects of policy mix on R&D efficiency in by using data from 2014 and 2016 Korean Innovation Survey. The DEA-Tobit analysis is used to estimate the impact of policy mix on relative R&D efficiency. As a result of the DEA analysis, the R&D efficiency of the Korean manufacturing industry firms is low, because the R&D investment has not been used effectively. According to the Tobit model, policy mix have a positive effect on R&D efficiency. In particular, the combination of market-oriented, market supply-oriented, and supply demand-oriented policy mix showed a positive relationship with R&D efficiency. R&D portfolio is necessary to improve R&D efficiencies and government has to facilitate a policy mix in view of the nature of firms and Consistency of policy tools.

• Journal of Technology Innovation
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• v.5 no.1
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• pp.15-43
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• 1997

This paper investigates empirically the relationship between various business portfolio properties (particularly technological properties) and chaebol's performance using data on the 50largest chaebols in Korea. In addition to the traditional indexes to measure diversification such as entropy index, we calculated inter-industry technological similarity using R'||'&'||'D expenditure data by industry and 1990 Input-output Table in korea, and obtained chaebol-level technological relatedness and internal transaction proportion from chaebols' business profile, inter-inustry technological similarity and 1990 input-output table. We applied factor analysis on 13 business portfolio property indexes and showed that they could be grouped into 3 dimensions. diversification scope, inter-business relatedness and degree of vertical integration. In this paper, using 50 largest chaebols' financial data (1989-1994), we analyzed empirically the effect of business portfolio properties on ROS(Return On Sales) which is conventional index for firm performance and on TFP(Total Factor Productivity) growth which is a pure measure of firm performance. To utilize the advantage of panel data, FEM(Fixed Effect Model) and REM(Random Effect Model) were used. The empirical result shows that the entropy index as a measurement of inter-business relatedness in not significant but technological relatedness index is significant. OLS estimates on pooled data were considerably different from FEM or REM estimates on panel data. By introducing interaction effect among the three variables for business portfolio properties, we obtained three findings. First, only VI(Vertical integration) has a significant positive correlation with ROS. Second, when using TFP growth as an dependent variable, both TR(Technological Relatedness) and VI are significant and positively related to the dependent variable. Third, the interaction term between TR and VI is significant and negatively affects TFP growth, meaning that TR and VI are substitutes. These results suggest strategic directions on restructuring business portfolio. As VI is increased, chaebols will get more profit. A higher level of either TR or VI will increase TFP growth rate, but increase in both TR and VI will have a negative effect on TFP growth. To summarize, certain business portfolio properties such as VI and TR can be considered "resources" themselves since they can affect profit rate and productivity growth. VI and TR have a synergy effect of change in profit rate and productivity growth. VI increases ROS and productivity growth, while TR increases productivity growth representing a technological synergy effect.t.

• Proceedings of the Technology Innovation Conference
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• 2002.06a
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• pp.238-256
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• 2002

Competitiveness of a nation can be explained by the concept of national innovation systems(NIS). As components of NIS, industry clusters become the issue in analysing innovative activity of an economy. Innovative clusters can be identified by the innovation survey or other economic activity data. Input-output Table was used widely as a tool for quantitative analysis, This paper classifies seven clusters in Korean industry based on inter-industries trade of intermediary goods and services, Maximizing procedure method is used in analysing input-output table. Identified clusters are Textiles/chemicals, Construction/Material, Instrument/Equipment, Automobile, Services, Energy, and Agriculture/Food cluster, Among these clusters, some different characteristics in R&D portfolios are detected. R&D investment characteristics of each cluster give us significant implications in understanding innovative dynamics of Korean industry.

• Current Photovoltaic Research
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• v.1 no.1
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• pp.1-10
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• 2013

The photovoltaic (PV) industry, which occupies about 80% share of domestic new and renewable energy (NRE) sales, has played an important role in the development of the Korean NRE industry. This was made possible by the government's implementation of the 3rd Basic New and Renewable Energy Plan, which promoted strategic PV R&D, infrastructure building, and a variety of PV deployment programs. For instance, 'One Million Green Homes', 'Feed in Tariff', and 'Renewable Portfolio Standards' programs contributed greatly to the dissemination of PV systems in the country. Furthermore, these programs were supported with more than 380 billion Won over 6 year period (2007~2012). The strategic PV R&D contributed to the fast follow-up in commercial technologies. Because of the recent, sharp decline in PV prices caused by oversupply and economic crisis in European countries, both foreign and domestic PV companies are going through painful restructuring. Under these circumstances, the Korean PV industry needs to find a new strategy for making a breakthrough, and in this sense a proactive role of the Korean government is desperately needed.

• Asia Pacific Journal of Business Review
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• v.1 no.2
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• pp.37-62
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• 2017

To analyze the effects of R&D expenditure on the firm value of Korean firms, we classified portfolios based on R&D activity levels. After that, we conducted a time-series analysis to assess excess returns from the portfolios. To carry out such an analysis, an empirical analysis of excess returns in the capital market was performed by using the monthly earning rate of stocks from 2000 to 2013. The purpose of this research is to provide basic data on investment to stakeholders in the capital market by analyzing the effects of R&D on the firm value and to overcome scholarly limitations by offering a new model of analysis. The criteria for classifying the portfolios were based on R&D expenditure levels. The analysis models follow the Fama-French Three-Factor Model and the Carhart Four-Factor Model. The analyses results are as follows. Extrapolating monthly profit rates based on R&D expenditure levels, portfolios with low R&D expenditures showed higher earning rates than those with high R&D expenditures. This suggests that high R&D expenditures did not translate into high earning rates. The investor depreciates the R&D expenditures related profitability and the possibility of success in the market, leading to falls in stock prices and a failure to give a positive effect on the firm value. Our research differs from the previous investigations as we carried out an empirical analysis based on the actual investors' attitudes about R&D expenditures and how these can generate excess earnings. Our research results show that the data related to R&D expenditure are not reflected fully in the market.

• KDI Journal of Economic Policy
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• v.41 no.4
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• pp.67-99
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• 2019

This paper, focusing on the renewable portfolio standard (RPS), evaluates alternative renewable energy policies. We propose a tractable equilibrium model which provides a structural representation of Korea's electricity market, including its energy settlement system and renewable energy certificate (REC) transactions. Arbitrage conditions are used to define the core value of REC prices to identify relevant competitive equilibrium conditions. The model considers R&D investments and learning effects that may affect the development of renewable energy technologies. The model is parameterized to represent the baseline scenario under the currently scheduled RPS reinforcement for a 20% share of renewable generation, and then simulated for alternative scenarios. The result shows that the reinforcement of the RPS leads to higher welfare compared to weakening it as well as repealing it, though there remains room to enhance welfare. It turns out that subsidies are welfare-inferior to the RPS due to financial burdens and that reducing nuclear power generation from the baseline yields lower welfare by worsening environmental externalities.

• Proceedings of the Technology Innovation Conference
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• 1996.12a
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• pp.265-295
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• 1996

This paper investigates empirically the relationship between various business portfolio properties (particularly technological properties) and chaebol′s performance using data on the 50 largest chaebols in Korea. In addition to the traditional indexes to measure diversification such as entropy index we calculated inter-industry technological similarity using R&D expenditure data by industry and 1990 Input-output Table in Korea, and obtained chaebol-level technological relatedness and internal transaction proportion from chaebols′business profile, inter-industry technological similarity and 1990 input-output table. We applied factor analysis on 13 business portfolio property indexes and showed that they could be grouped into 3 dimensions, diversification scope, inter-business relatedness and degree of vertical integration. In this paper, using 50 largest chaebols′financial data (1989-1994), we analyzed empirically the effect of business portfolio properties on ROS (Return On Sales) which is conventional index for firm performance and on TFP(Total Factor Productivity) growth which is a pure measure of firm performance. To utilize the advantage of panel data, FEM(Fixed Effect Model) and REM(Random Effect Model) were used. The empirical result shows that the entropy index as a measurement of inter-business relatedness is not significant but technological relatedness index is significant. OLS estimates on pooled data were considerably different from FEM or REM estimates on panel data. By introducing interaction effect among the three variables for business portfolio properties, we obtained three findings. First, only VI (Vertical integration) has a significant positive correlation with ROS. Second, when using TFP growth as an dependent variable, both TR(Technological Relatedness) and f[ are significant and positively related to the deepened variable. Third, the interaction term between TR and VI is significant and negatively affects TFP growth, meaning that TR and VI are substitutes. These results suggest strategic directions on restructuring business portfolio. As VI is increased, chaebols will get more profit. A higher level of either TR or W will increase TFP growth rate. but increase in both TR and VI will have a negative effect on TFP growth. To summarize, certain business portfolio properties such as VI and TR can be considered "resources" themselves since they can affect profit rate and productivity growth. VI and TR have a synergy effect of change in profit rate and productivity growth. VI increases ROS and productivity growth, while TR increases productivity growth representing a technological synergy effect.