• Asia Marketing Journal
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• v.13 no.3
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• pp.25-53
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• 2011

This study probes the effect of loyalty program on the customer retention based on the real transaction data(n=2,892) acquired from education service industry. We try to figure out the outcomes of reward program through more than 1 year-long data gathered and analyzed according to quasi-experimental design(i.e., before and after design). We adopt this kinds of research scheme in regard that previous studies measured the effect of loyalty program by dividing the customers into two group(i.e., members vs. non-members) after the firms or stores had started the program. We believe that it might not avoid the self-selection bias. The research questions of this study could be explained such as: First, most research said that the loyalty programs could increase the customer loyalty and contribute to the sustainable growth of company. But there are little confirmation that this promotional tool could be justified in terms of financial perspective. Thus, we are interested in both the retention rate and financial outcomes caused by the introduction of loyalty programs. Second, reward programs target mainly current customer. Especially CRM(customer relationship management) said that it is more profitable for company to build positive relationship with current customer instead of pursuing new customer. And it claims that reward program is excellent means to achieve this goal. For this purpose, we check in this study whether there is a interaction effect between loyalty program and customer type in retaining customer. Third, it is said that dis-satisfied customers are more likely to leave the company than satisfied customers. While, Bolton, Kannan and Bramlett(2000) claimed that reward program could contribute to minimize the effect of negative service by building emotional link with customer, it is not empirically confirmed. This point of view explained that the loyalty programs might work as exit barrier to current customer. Thus, this study tries to identify whether there is a interaction effect between loyalty program and service experience in keeping customer. To achieve this purpose, this study adopt both Kaplan-Meier survival analysis and Cox proportional hazard model. The research outcomes show that the average retention period is 179 days before introducing loyalty program but it is increased to 227 days after reward is given to the customers. Since this difference is statistically significant, it could be said that H1 is supported. In addition, the contribution margin coming from increased transaction period is bigger than the cost for administering loyalty programs. To address other research questions, we probe the interaction effect between loyalty program and other factors(i.e., customer type and service experience) affecting it. The analysis of Cox proportional hazard model said that the current customer is more likely to engage in building relationship with company compared to new customer. In addition, retention rate of satisfied customer is significantly increased in relation to dis-satisfied customer. Interestingly, the transaction period of dis-satisfied customer is notably increased after introducing loyalty programs. Thus, it could be said that H2, H3, and H4 are also supported. In summary, we found that the loyalty programs have values as a promotional tool in forming positive relationship with customer and building exit barrier.

• Korean small business review
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• v.31 no.1
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• pp.73-88
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• 2009

This study examines the characteristics of 24 Korean hidden champions such as key success factors, core competences, strategic problems, and desirable future directions. The study categorized them into 8 types with Danny Miller's four trajectories and top manager's decision making style(rationality and passion). Danny Miller argued in his book, Icarus paradox, that outstanding firms will extend their orientations until they reach dangerous extremes and their momentum will result in common trajectories of decline. He suggested four very common success types: Craftsmen, Builders, Pioneers, Salesmen. He also suggested common trajectories of decline:Focusing(from Craftsmen to Tinkers), Venturing(from Builders to Imperialists), Inventing(from Pioneers to Escapists), Decoupling(from Salesmen to Drifts). In Korea, successful startups appear to possess three kinds of drive: Technology-drive, Vision-drive, Market-drive. Successful technology-driven firms tend to grow as craftsmen or pioneers. Successful vision-driven and market-driven ones tend to grow as builders and salesmen respectively. Korean top managers or founders seem to have two kinds of decision making style: Passion-based and Rationality-bases. Passion-based(passionate) entrepreneurs are biased towards action or proactiveness in competing and getting things done. Rationality- based ones tend to emphasis the effort devoted to scanning and analysing information to better understand a company's threats, opportunities and options. Consequently this study suggested 4*2 types of Korean hidden champions: (1) passionate craftsmen, (2) rational craftsmen, (3) passionate builders, (4) rational builders, (5) passionate pioneers, (6) rational pioneers, (7) passionate salesmen, (8) rational salesmen. These 8 type firms showed different success stories and appeared to possess different trajectories of decline. These hidden champions have acquired competitive advantage within domestic or globally niche markets in spite of the weak market power and lack of internal resources. They have maintained their sustainable competitiveness by utilizing three types of growth strategy; (1) penetrating into the global market, (2) exploring new service market, (3) occupying the domestic market. According to the types of growth strategy, these firms showed different financial outcomes and possessed different issues for maintaining their competitiveness. This study found that Korean hidden champions were facing serious challenges from the transforming economic structure these days and possessed the decline potential from their success momentum or self-complacence. It argues that they need to take a new growth engine not to decline in the turbulent environment. It also discusses how firms overcome the economic crisis and find a new business area in promising industries for the future. It summarized the recent policy of Korean government called as "Green Growth" and discussed how small firms utilize such benefits and supports from the government. Other implications for firm strategies and governmental policies were discussed.

• Korean Journal of Construction Engineering and Management
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• v.24 no.6
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• pp.12-23
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• 2023

The goal of international development projects is to assist sustainable development in recipient countries through foreign aid from donor countries. However, despite the need for both countries to negotiate and work together from the initial stages to maintain sustainability after the project, clear guidelines or standards have not been established. Additionally, despite the need for donor countries, which are relatively advanced, to understand the situation of recipient countries, many projects are donor-centric and fail to prioritize the value of sustainability. Therefore, this study extracted economic, social, and environmental risks that threaten sustainability through literature review and proposed a sustainability framework based on these criteria. To validate framework, actual international development cases conducted by advanced donor countries such as Australia, the United States, and Japan, in collaboration with South Korea, were analyzed by applying content analysis with the reports, which covers the overall contents from the planning stage to the operation stage. Analysis of sustainability perspectives focused on economy, society and the environment, advanced donor countries emphasized (1) the importance of pre-assessment, (2) the need for coordination with the local population and communities despite the existence of donor-specific values, and (3) addressing economic considerations such as pre-operational and maintenance costs, social communication with the local population, and environmental considerations starting from the initial stages of construction regarding the treatment of pollutants as values to be improved. Compared to other advanced donor countries, the Republic of Korea should also focus on consultation with local residents to achieve social integration, and improve sustainability by deployment the managers in local sites for better negotiation.The proposed framework in this study will serve as a tool to enhance communication among the countries and the locals, with the expectation of increasing project efficiency and sustainability.

• Journal of Service Research and Studies
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• v.13 no.4
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• pp.97-112
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• 2023

Background: In modern society, the importance of Public Design has become increasingly significant in contributing to the enhancement of urban functionality and the quality of life of citizens. Smart Public Facilities have played a pivotal role in enriching user experience by improving accessibility, convenience, and safety, and in elevating the value of the city. This research recognizes the importance of Public Facilities and explores the potential of Smart Public Facilities in solving urban challenges and progressing towards sustainable and Inclusive cities. Method: The literature review comprehensively examines existing theories and research results on Smart Public Facilities. The case study analyzes actual examples of Smart Public Facilities implemented in cities both domestically and internationally, drawing out effects, user satisfaction, and areas for improvement. Through analysis and discussion, the results of the case studies are evaluated, discussing the potential development of Smart Public Facilities. Results: Smart Public Facilities have been found to bring positive changes in various aspects such as urban management, energy efficiency, safety, and information accessibility. In terms of urban management, they play a crucial role in optimization, social Inclusiveness, environmental protection, fostering citizen participation, and promoting technological innovation. These changes create a new form of urban space, combining physical space and digital technology, enhancing the quality of life in the city. Conclusion: This research explores the implications, current status, and functions of Smart Public Facilities in service and design aspects, and their impact on the urban environment and the lives of citizens. In conclusion, Smart Public Facilities have brought about positive changes in the optimization of urban management, enhancement of energy efficiency, increased information accessibility, User-Centric design, increased interaction, and social Inclusiveness. Technological innovation and the integration of Public Facilities have made cities more efficient and proactive, enabling data-based decision-making and optimized service delivery. Such developments enable the creation of new urban environments through the combination of physical space and digital technology. The advancement of Smart Public Facilities indicates the direction of urban development, where future cities can become more intelligent, proactive, and User-Centric. Therefore, they will play a central role in Public Design and greatly contribute to improving the urban environment and the quality of life of citizens.

• Journal of Environmental Impact Assessment
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• v.32 no.6
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• pp.533-544
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• 2023

The Ministry of Agriculture, Food and Rural Affairs has been promoting policies to strengthen the functions of rural centers (culture, welfare, economy, education, etc.) and to ensure that services from the centers are delivered to and connected to hinterland villages. For this policy purpose, the rural center revitalization project and the basic living base creation project within the rural development projects are being promoted. However, in the process of carrying out the actual project, as the focus is on strengthening the functions of rural centers, service delivery and connection with hinterland villages are not being actively promoted. therefore, in this study, we analyze the projects previously carried out in Jeoksang-myeon, Muju-gun and the regional status, analyze the reasons why hinterland village services were not connected and activated, and propose a direction for the second phase of the basic living base creation project to be carried out in the future. As a result of analyzing the reasons for the failure of hinterland village services to be activated, problems such as disadvantages in accessing services due to dispersed residence in rural areas and limitations in topographical structure, and the lack of a service delivery system to develop demand in hinterland areas were found to be problems. Improvement measures were derived as follows. First, it is a stepping stone construction plan proposed to overcome topographical limitations. Establish a stepping base that will function as a service intermediate terminal to ensure efficient service delivery. Second, for a rational decision-making structure, we proposed a plan for deploying communication channels that could closely collect local opinions by operating various small-scale communities along with the efficient composition of a resident committee that includes residents of the central and hinterland villages and various classes. Third, it is a virtuous cycle of local manpower training plans that train local residents into professional instructors. We aim to complete a sustainable, resident-led service supply system by nurturing the most important service deliverers, that is, activists, in service delivery.

• Journal of Venture Innovation
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• v.4 no.2
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• pp.57-75
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• 2021

KHNP's shared growth activities are based on such public good. Reflecting the characteristics of a comprehensive energy company, a high-tech plant company, and a leading company for shared growth, it presents strategies to link performance indicators with its partners and implements various measures. Key tasks include maintaining the nuclear power plant ecosystem, improving management conditions for partner companies, strengthening future capabilities of the nuclear power plant industry, and supporting a virtuous cycle of regional development. This is made by reflecting the specificity of nuclear power generation as much as possible, and is designed to reflect the spirit of shared growth through win-win and cooperation in order to solve the challenges of the times while considering the characteristics as much as possible as possible. KHNP's shared growth activities can be said to be the practice of the spirit of the times(Zeitgeist). The spirit of the times given to us now is that companies should strive for sustainable growth as social air. KHNP has been striving to establish a creative and leading shared growth ecosystem. In particular, considering the positions of partners, it has been promoting continuous system improvement to establish a fair trade culture and deregulation. In addition, it has continuously discovered and implemented new customized support projects that are effective for partner companies and local communities. To this end, efforts have been made for shared growth through organic collaboration with partners and stakeholders. As detailed tasks, it also presents fostering new markets and new industries, maintaining supply chains, and emergency support for COVID-19 to maintain the nuclear power plant ecosystem. This reflects the social public good after the recent COVID-19 incident. In order to improve the management conditions of partner companies, productivity improvement, human resources enhancement, and customized funding are being implemented as detailed tasks. This is a plan to practice win-win growth with partner companies emphasized by corporate social responsibility (CSR) and ISO 26000 while being faithful to the main job. Until now, ESG management has focused on the environmental field to cope with the catastrophe of climate change. According to KHNP is presenting a public enterprise-type model in the environmental field. In order to strengthen the future capabilities of the nuclear power plant industry as a state-of-the-art energy company, it has set tasks to attract investment from partner companies, localization and new technologies R&D, and commercialization of innovative technologies. This is an effort to develop advanced nuclear power plant technology as a concrete practical measure of eco-friendly development. Meanwhile, the EU is preparing a social taxonomy to focus on the social sector, another important axis in ESG management, following the Green Taxonomy, a classification system in the environmental sector. KHNP includes enhancing local vitality, increasing income for the underprivileged, and overcoming the COVID-19 crisis as part of its shared growth activities, which is a representative social taxonomy field. The draft social taxonomy being promoted by the EU was announced in July, and the contents promoted by KHNP are consistent with this, leading the practice of social taxonomy

• Korean journal of applied entomology
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• v.62 no.4
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• pp.371-384
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• 2023

We investigated the occurrence of insect pests on street trees that were planted or naturally grew in a total of six urban and suburban parks (two sites in Iksan, one site in Gimje and three sites in Gwangju) in Honam region, South Korea from May to September, 2022. The six survey sites are divided into three characters, two 'nearby forest (NF)', two 'nearby river (NR)' and two 'nearby downtown (ND)' according to the created location of sites and the results on fauna of insect pests compared with street tree species for each character of survey sites. As results, we could discover 51 species of 49 genera in 27 families belonging to five insect orders from a total of 21 tree species belonging to 13 families in six survey sites. Among the insect taxa, hemipteran pests are most diverse with 22 species of 20 genera in 12 families and it is confirmed that Prunus × yedoensis Matsum. (Rosaceae) is damaged by most diverse 25 insect pests. With regard to character of survey sites, trees in 'nearby river' were affected by most diverse 34 insect pests, even though tree species were few compare to sites of 'nearby forest' and 'nearby downtown. Among the affected area of tree parts, leaf-feeding insect pests are most diverse with 22 species. From the present study, we provided a checklist of insect pests from the street trees and selected six most concerned species. Indeed, it is needed to conduct sustainable surveys and monitoring on occurrence of insect pests from street trees in urban and suburban parks because the species of planted street trees in parks can be extremely diverse with occurrence of unexpected insect pests.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.4
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• pp.57-71
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• 2022

The purpose of this study was to analyze the perception and demand of local youth and to find ways to support universities in order to create an youth start-up ecosystem. To this end, 509 young people living in Seoul were analyzed to recognize and demand young people in the region for youth start-ups, and to support universities. The findings are as follows. First, as a result of analyzing young people's perception of youth start-ups in the region, the "Youth Start-up Program" was analyzed the highest in terms of the demand for regional programs by university. In addition, there was a high perception that the image of youth startups in the region was "challenging" and "good for changing times." Second, after analyzing the demand for support for youth start-ups in the region, it appeared in the order of mentoring, start-up education, and creation of start-up spaces. And it showed different needs for different ages. Third, the results were derived from analysis of the demand for university support for the creation of a regional youth start-up ecosystem, the criteria for selecting local youth start-up support organizations, and the period of participation in local youth start-up support. Based on the results of the above research, the implications and suggestions of university support for the creation of a community of youth start-up ecosystem are as follows. First of all, it is necessary to develop and operate sustainable symbiosis mentoring programs focusing on university's infrastructure and regional symbiosis. Second, it is necessary to develop and utilize step-by-step systematic microlearning content based on the needs analysis of prospective youth start-ups. Third, it is necessary to form an open youth start-up base space for local residents in universities and link it with the start-up process inside and outside universities. The results of this study are expected to be used as basic data for establishing policies for supporting youth start-ups and establishing and operating strategies for supporting youth start-ups at universities.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.1
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• pp.85-106
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• 2023

This study reviewed and derived the success factors of overseas agricultural startups and studied their integrated research model. Agricultural startups and general startups have in common that poor resources and infrastructure exist from a resource-based perspective after startup, but a differentiated approach from general startups is required due to the nature of the primary industry of agriculture. In this study, we approach the company internal factors (human resources/vision/distribution network capacity/capital capacity/cultivated crops/physical resources/farming technology, etc.) and external factors (agricultural infrastructure/laws/regulations/relationship with surrounding society, etc.) We tried to build a research model that can be integrated by focusing on various existing research models, success factors, and entrepreneurship. Through this, it is intended to present an integrated model that is practically helpful to business performance to entrepreneurs, business-related persons, and researchers who need an integrated understanding of agricultural startups at home and abroad. made for purpose In this paper, a standard model was established through three types (existing agricultural startup, small and medium-sized business startup, multinational company, and comprehensive approach) according to size and characteristics for modeling agricultural startup success factors. Through this, a total of 9 success factors (agricultural management, external environment, manager/founder characteristics, corporate identity, business management, organizational culture, infrastructure, commercialization capability, and sustainable growth) were derived. The implication of this study is that the success factors of agricultural startups were comprehensively presented based on 'entrepreneurship' for various domestic and foreign agricultural startup cases. By confirming the systematic categorization, a standard model for future agricultural startup success factors was presented, and as a result, a foundation was presented for systematic research and practical effectiveness of related research in the future.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.217-240
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• 2023

For a while, Functional cosmetics, Cosmeceutical cosmetics, and Derma cosmetics have gained trust and become popular due to the consumers' strong interest in ingredients & efficacy. It's remarkable that Clean or Vegan brands are growing fast because they are emphasizing on different values from the other cosmetic brands. It's needed to attempt to analyze the influence relationship between consumer lifestyle and social value in these changes, and to find out whether the consumption of vegan cosmetics is related to satisfying the need for self-expression in a social atmosphere where ESG is emphasized on. This study analyzed the effect of lifestyle types and self-expression needs on the purchase intention of vegan cosmetics by mediating social values for cosmetics consumers. Lifestyle types were classified into appearance-oriented, health-oriented, and fashion-oriented. For empirical analysis, 321 questionnaires collected from cosmetics consumers living across the country were used. SPSS v26.0 and PROCESS macro v4.2 were used to analyze based on a single mediating model as a single mediator. As a result of the analysis, first, lifestyle types and self-expression needs, excluding appearance-oriented types, were found to have a positive (+) effect on social values. Second, it was found that social value had a positive (+) significant effect on the purchase intention of vegan cosmetics. Third, appearance-oriented, health-oriented, trend-seeking lifestyle types and self-expression needs were all found to have a positive (+) effect on the purchase intention of vegan cosmetics. Fourth, social values were found to mediate lifestyle types, self-expression needs, and purchase intentions, except for appearance-oriented types. Appearance-oriented consumers do not directly affect social values but affect purchase intentions, suggesting that appearance-oriented consumers may not be significantly affected by product-related social values. In a comparison of the relative influence size using standardization coefficients, self-expression needs had the greatest impact on the purchase intention of vegan cosmetics when mediating social values, and health-oriented ones had the least impact. The academic implications of this study include contributing to consumer behavior research by providing insights, mediation mechanisms, and consideration of the niche consumer sector, and directing further research into the cosmetics industry beyond forming marketing strategies and sustainable business practices.