• (The)Study of the Eastern Classic
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• no.73
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• pp.249-279
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• 2018

This paper analyzes the 'strategy' of Sunzi's art of war and verifies the modern application value of it by combining the 'strategy' of the art of war with modern enterprise management. The army adopts 'war strategy' with the aim of minimizing the loss and sacrifice caused by the war and winning in the shortest time. Enterprise aims to maximize profits at the lowest cost and adopt 'business strategy'. Three factors of art of war's strategic, the 'power', 'adaptation', 'trickery', are similar to the 'internal resources analysis', 'external environment analysis' and 'information management' of the modern enterprise's management. In the process of establishing strategic plan, the art of war emphasizes 'strategy of winning' including 'prophet', 'estimates' and 'maneuvering', in the modern enterprise management, 'prophet' is shown as 'competitor analysis' of the '3C analysis' and 'benchmarking learning'. 'Estimates' is shown as 'SWOT analysis' and '4P's analysis'. 'Maneuvering' is shown as 'market positioning strategy' and 'market preemption strategy'. In the stage of implementing the strategy, 'surprise attack strategy', 'strategy of void and actuality' and 'dividing and integrating strategy' of the art of war are shown as follows in modern enterprises ; 'Surprise attack strategy' is shown as 'differentiation strategy' and 'concentration strategy', 'Strategy of void and actuality' is shown as 'information management' and 'rational market positioning strategy'. 'Dividing and integrating strategy' is shown 'diversification strategy', 'concentration strategy', 'change management', 'basic competition strategy', 'synergy effect' and etc. In terms of strategic results, the 'victory of war' of the art or war is shown as 'competitive advantage' and 'maximization of profits' in modern enterprise management strategy. In a word, although there are different names and expressions between the strategy of Sunzi's art of war and modern enterprise, but their connotation is the same. We can see that the art of war which was written in about B.C.500, has left a high utilization value for modern enterprise in rapid environmental change and intense competition.

• Journal of the Korean Society of Marine Environment & Safety
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• v.27 no.1
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• pp.172-178
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• 2021

In the ship repair market, interest in maintenance and repair is steadily increasing due to the reinforcement of prevention of environmental pollution caused by ships and the reinforcement of safety standards for ship structures. By reflecting this effect, the number of requests for repairs by foreign shipping companies increases to repair shipbuilders in the Southwest Sea. However, because most of the repair shipbuilders in the southwestern area are small and medium-sized companies, it is difficult to lead to the integrated synergy effect of the repair shipbuilding companies. Moreover, the infrastructure is not integrated; hence, using the infrastructure jointly is a challenge, which acts as an obstacle to the activation of the repair shipbuilding industry. Floating docks are indispensable to operating the repair shipbuilding business; in addition, most of them are operated through renovation/repair after importing aging caisson docks from overseas. However, their service life is more than 30 years; additionally, there is no structure inspection standard. Therefore, it is vulnerable to the safety field. In this study, the finite element analysis program of ANSYS was used to evaluate the structural safety of the modified caisson dock and obtain additional structural reinforcement schemes to solve the derived problems. For the floating docks, there are classification regulations; however, concerning structural strength, the regulations are insufficient, and the applicability is inferior. These insufficient evaluation areas were supplemented through a detailed structural FE-analysis. The reinforcement plan was decided by reinforcing the pontoon deck and reinforcement of the side tank, considering the characteristics of the repair shipyard condition. The final plan was selected to reinforce the side wing tank through the structural analysis of the decision; in addition, the actual structure was fabricated to reflect the reinforcement plan. Our results can be used as reference data for improving the structural strength of similar facilities; we believe that the optimal solution can be found quickly if this method is used during renovation/repair.

• Journal of Korea Entertainment Industry Association
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• v.14 no.8
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• pp.407-426
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• 2020

The purpose of this study was to make convergent and combined analysis of the sport industry and exercise rehabilitation in the era of New Normal based on the Fourth Industrial Revolution and devise a comprehensive plan for future activation. For this purpose, literature review was performed mainly by analyzing the environment of the sport industry in the New Normal era based on the Fourth Industrial Revolution and by carrying out convergent and combined analysis of the sport industry to present a convergent and combined activation plan for exercise rehabilitation comprehensively as follows: First, it is necessary to make a strategy of promoting exercise rehabilitation in convergent and combined ways at the sport industry level. This means development of a convergent and combined exercise rehabilitation-tourism-ICT model as well as a convergent and combined exercise rehabilitation-ICT model through collaboration among ministries, including those of health and sports. Second, it is necessary to convert into a convergent and combined way of thinking and extend and reinforce educational competitiveness in the area of exercise rehabilitation. That is, it is necessary to refine the education and training systems for reinforcing personal ICT competence of exercise rehabilitation majors and relevant ones and provide convergent and combined business commencement education. Third, it is necessary to make different types of research and development by applying practical, convergent and combined skills based on the industrial field to exercise rehabilitation and relevant areas. Efforts should be made to overcome any risk in the era of New Normal and support business commencement with convergent and combined skills for exercise rehabilitation. Fourth, it is necessary to make mid- and long-term clusters where exercise rehabilitation and relevant businesses can be accumulated. This means building an industrial hub and complex for exercise rehabilitation and requires making an R&D-based cluster with industrial-academic-governmental collaboration, maximizing the synergy effects with local infrastructures, and fulfilling the function of realizing a spontaneous profit-generating structure.

• Korean Journal of Environment and Ecology
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• v.36 no.6
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• pp.582-591
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• 2022

This study was conducted to eliminate Myocastor coypusMolina, 1782 (Nutria) from Jeju Special Self-Governing Province, South Korea. Habitat identification and eradication were carried out from September to November 2013, and a survey was carried out until June 2022 to check whether the eradication was successful. The habitat was identified with unmanned cameras, interviews, and literature surveys, and the capture was performed using the trapping method with food to attract nutria to the habitat area. The study area for the follow-up survey, which was set relatively wide considering nutria's home range, included wetlands and rivers within 4.0 km² of the habitat area (eradication area). As a result, nutria's habitat was confirmed only at Songdang Ranch, Songdang-ri, of Jeju Island, with traces of habitat (footprints, excrement, and burrows) confirmed in waterways and ponds within the pasture. Eight individuals were captured, including four females, three males, and one individual in too advanced a state of decay to identify the sex. The follow-up survey thoroughly investigated the habitat and its surroundings, focusing on three areas with permanent water, Seongeup Reservoir, Cheonmi Creek, and Molsuni Pond, but no signs of habitat were identified. Therefore, it is determined that nutria inhabiting Jeju Island has been completely eradicated. It is believed that the successful eradication of nutria in the Jeju Special Autonomous Region was possible due to a synergy between 1) the eradication of nutria at the beginning of the settlement phase through rapid capture after confirming the nutria habitat and 2) the delayed expansion period because of rare presence of wetlands, where water is constantly stagnant, on Jeju Island. These results imply that quickly identifying the ecological characteristics of the species and preventing disturbances before they or at the beginning of the ecological disturbance through control and eradication at the initial stage of settlement before the expansion stage is an effective measure to cope with the influx of alien species.

• Korean Journal of Heritage: History & Science
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• v.56 no.2
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• pp.246-262
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• 2023

This study analyzed policy implementation factors focusing on how Donuimun, a demolished cultural heritage, was digitally restored and the policy implementation process of Donuimun Gate restoration. Through this, the characteristics of the implementation process of the digital Donuimun Gate restoration policy promoted by public-private multilateral collaboration were examined and implications were sought for how institutions with different interests solved problems and collaborated in the implementation process. The research method was focused on policy implementation factors including policy executive factors, policy content factors, policy resource factors, and policy environment factors, and the process was analyzed for each detailed component. Along with literature analysis, in-depth interviews were conducted with participants in policy implementation. As a result of the study, first, it was found in the policy executive factor that the quick decision-making leadership of the policy manager and the flexible attitude of the person in charge of the government agency had a positive effect on preventing conflicts between different interest groups. Second, in terms of policy content, establishing a common goal that everyone can accept and moving forward consistently gave trust and created synergy. Third, in the policy implementation resource factor, the importance of the budget was emphasized. Finally, as an environmental factor for policy implementation, the opening of 5G mobile communication for the first time along with the emergence of the Fourth Industrial Revolution at the time of policy implementation acted as a timely factor. The digital Donuimun Gate was the first case of restoring a lost cultural heritage with AR and VR, and received attention and support from the mass media and the public. This also shows that digital restoration can be a model case that can be a solution without conflicts with local residents where cultural heritages are located or conflicts between stakeholders in the preservation and restoration of real objects.

• Asia Marketing Journal
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• v.14 no.1
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• pp.53-81
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• 2012

Constructing attractive bundle offers depends on more than an understanding of the distribution of consumer preferences. Consumers are also sensitive to the framing of price information in a bundle offer. In classical economic theory, consumers' utility should not change as long as the total price paid stays same. However, even when total prices are identical, consumers' preferences toward a bundle product could be different depending on the format of price presentation and the locus of price discount. A weighted additive model predicts that the impact of a price discount on the overall evaluation of the bundle will be greater when the discount is assigned to the more important product in the bundle(Yadav 1995). Meanwhile, a reference dependent model asserts that it is better to assign a price discount to a tie-in component that has a negative valuation at its current offer price than to a focal product that has a positive valuation at its current offer price(Janiszewski and Cunha 2004). This paper has expanded previous research regarding price discount presentation format, investigating the reasons for mixed results of prior research and presenting new mechanisms for price discount framing effect. Prior research has hypothesized that bundling is used to sell a tie-in component with an offer price above the consumer's reference price plus a focal product of the same offer price with reference price(e.g., Janiszewski and Cunha 2004). However, this study suggests that bundling strategy can be used for increasing product's attractiveness through the synergy between components even when offer prices of bundle components are the same with reference prices. In this context, this study employed various realistic bundle sets with same price between offer price and reference price in the experiment. Hamilton and Srivastava(2008) demonstrated that when evaluating different partitions of the same total price, consumers prefer partitions in which the price of the high-benefit component is higher. This study determined that their mechanism can be applied to price discount presentation formats. This study hypothesized that price discount framing effect depends not on the negative perception of tie-in component with offer price above reference price but rather on the consumers' perceived consumption benefit in bundle product. This research also hypothesized that preference for low-benefit discount mechanism is that perceived consumption benefit reduces price sensitivity. Furthermore, this study investigated how consumers' concern for quality in a price discount--a factor not considered in previous research--influences price discount framing. Yadav(1995)'s experiment used only one magazine bundle of relatively low quality uncertainty and could not show the influence of perceived uncertainty of quality. This study assumed that as perceived uncertainty of quality increases, the price sensitivity mechanism for assigning the discount to low-benefit will increase. Further, this research investigated the moderating effect of uncertainty of quality in price discount framing. The results of the experiment showed that when evaluating different partitions of the same total price and the same amount of discounts, the partition that discounts in the price of low benefit component is preferred to the partition that decreases the price of high benefit component. This implies that price discount framing effect depends on the perceived consumption benefit. The results also demonstrated that consumers are more price sensitive to low benefit component and less price sensitive to high benefit component. Furthermore, the results showed that the influence of price discount presentation format on the evaluation of bundle product varies with the perceived uncertainty of quality in high consumption benefit. As perceived uncertainty of quality gradually increases, the preference for discounts in the price of low consumption benefit decreases. Besides, the results demonstrate that as perceived uncertainty of quality gradually increases, the effect of price sensitivity in consumption benefit also increases. This paper integrated prior research by using a new mechanism of perceived consumption benefit and moderating effect of perceived quality uncertainty, thus providing a clearer explanation for price discount framing effect.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.1
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• pp.141-158
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• 2023

From the perspective of an entrepreneur, one of the most important factors for understanding the inherent limitations of a startup, reducing the risk of failure, and succeeding is the composition of the talent, that is, the founding team. Therefore, a common concern experienced by entrepreneurs in the pre-entrepreneurship stage or the early stage of startup is the choice between independent startups and co-founding start-up. Nonetheless, in Korea, the share of independent entrepreneurship is significantly higher than that of co-founding start-up. On the other hand, focusing on the fact that many successful global innovative companies are in the form of co-founding start-up, the success factors of co-founding start-up were examined. Most of the related preceding studies are studies that identify the capabilities and characteristics of individual entrepreneurs as factors influencing the survival and success of entrepreneurship, and there is a lack of research on partnerships, that is, co-founding start-up, which are common in the field of entrepreneurship ecosystems. Therefore, this study attempted a multi-case study through in-depth interviews, collection of relevant data, analysis of contextual information, and consideration of previous studies targeting co-founders of domestic startups that succeeded in opportunistic startups. Through this, a model for deriving the phased characteristics and key success factors of co-founding start-up was proposed. As a result of the study, the key element of the preliminary start-up stage was 'opportunity', and the success factors were 'opportunity recognition through entrepreneur's experience' and 'idea development'. The key element in the early stages of start-up is "start-up team," and the success factor is "trust and complement of start-up team," and synergy is shown when "diversity and homogeneity of start-up team" are harmonized. In addition, conflicts between co-founders may occur in the early stages of start-ups, which has a large impact on the survival of start-ups. The conflict between the start-up team could be overcome through constant "mutual understanding and respect through communication" and "clear division of work and role sharing." It was confirmed that the core element of the start-up growth stage was 'resources', and 'securing excellent talent' and 'raising external funds' were important factors for success. These results are expected to overcome the limitations of start-up companies, such as limited resources, lack of experience, and risk of failure, in entrepreneurship studies, and prospective entrepreneurs preparing for a start-up in a situation where the form of co-founding start-up is attracting attention as one of the alternatives to increase the success rate. It has implications for various stakeholders in the entrepreneurial ecosystem.

• Journal of Global Scholars of Marketing Science
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• v.20 no.1
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• pp.35-48
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• 2010

Today, the fashion market challenged by a maturing retail market needs a new paradigm in the "evolution of brand" to improve their comparative advantages. An important issue in fashion marketing is lifestyle brand extension with a specific aim to meet consumers' specific needs for their changing lifestyle. For fashion brand extensions into lifestyle product categories, Gen Y and Baby Boomer are emerging as "prospects"-Baby Boomers who are renovating their lifestyle, and generation Y experiencing changes in their life stage-with demands for buying new products. Therefore, it is imperative that apparel companies pay special attention to the consumer cohort for brand extension to create and manage their brand equity in a new product category. The purposes of this study are to (a) evaluate brand equity between parent and extension brands; (b) identify consumers' perceived marketing elements for brand extension; and (c) estimate a structural equation model for examining causative relationship between marketing elements and brand equity for brand extensions in lifestyle product category including home fashion items for the selected two groups (e.g., Gen Y, and Baby boomer). For theoretical frameworks, this study focused on the traditional marketing 4P's mix to identify what marketing element is more importantly related to brand extension equity for this study. It is assumed that comparable marketing capability can be critical to establish "brand extension equity", leads to successfully entering the new categories. Drawing from the relevant literature, this study developed research hypotheses incorporating brand equity factors and marketing elements by focusing on the selected consumers (e.g., Gen Y, Baby Boomer). In the context of brand extension in the lifestyle products, constructs of brand equity consist of brand awareness/association, brand perceptions (e.g., perceived quality, emotional value) and brand resonance adapted from CBBE factors (Keller, 2001). It is postulated that the marketing elements create brand extension equity in terms of brand awareness/association, brand perceptions by the brand extension into lifestyle products, which in turn influence brand resonance. For data collection, the sample was comprised of Korean female consumers in Gen Y and Baby Boomer consumer categories who have a high demand for lifestyle products due to changing their lifecycles. A total of 651 usable questionnaires were obtained from female consumers of Gen Y (n=326) and Baby Boomer (n=325) in South Korea. Structural and measurement models using a correlation matrix was estimated using LISREL 8.8. Findings indicated that perceived marketing elements for brand extension consisted of three factors: price/store image, product, and advertising. In the model of Gen Y consumers, price/store image had a positive effect on brand equity factors (e.g., brand awareness/association, perceived quality), while product had positive effect on emotional value in the brand extensions; and the brand awareness/association was likely to increase the perceived quality and emotional value, leading to brand resonance for brand extensions in the lifestyle products. In the model of Baby Boomer consumers, price/store image had a positive effect on perceived quality, which created brand resonance of brand extension; and product had a positive effect on perceived quality and emotional value, which leads to brand resonance for brand extension in the lifestyle products. However, advertising was negatively related to brand equity for both groups. This study provides an insight for fashion marketers in developing a successful brand extension strategy, leading to a sustainable competitive advantage. This study complements and extends prior works in the brand extension through critical factors of marketing efforts that affect brand extension success. Findings support a synergy effect on leveraging of fashion brand extensions (Aaker and Keller, 1990; Tauber, 1988; Shine et al., 2007; Pitta and Katsanis, 1995) in conjunction with marketing actions for entering into the new product category. Thus, it is recommended that marketers targeting both Gen Y and Baby Boomer can reduce marketing cost for entering the new product category (e.g., home furnishings) by standardized marketing efforts; fashion marketers can (a) offer extension lines with premium ranges of price; (b) place an emphasis on upscale features of store image positioning by a retail channel (e.g., specialty department store) in Korea, and (c) combine apparel with lifestyle product assortments including innovative style and designer’s limited editions. With respect to brand equity, a key to successful brand extension is consumers’ brand awareness or association that ensures brand identity with new product category. It is imperative for marketers to have knowledge of what contributes to more concrete associations in a market entry into new product categories. For fashion brands, a second key of brand extension can be a "luxury" lifestyle approach into new product categories, in that higher price or store image had impact on perceived quality that established brand resonance. More importantly, this study increases the theoretical understanding of brand extension and suggests directions for marketers as they establish marketing program at Gen Y and Baby Boomers.

• KDI Journal of Economic Policy
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• v.12 no.1
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• pp.31-68
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• 1990

The concentration of economic power takes the form of one or a few firms controlling a substantial portion of the economic resources and means in a certain economic area. At the same time, to the extent that these firms are owned by a few individuals, resource allocation can be manipulated by them rather than by the impersonal market mechanism. This will impair allocative efficiency, run counter to a decentralized market system and hamper the equitable distribution of wealth. Viewed from the historical evolution of Western capitalism in general, the concentration of economic power is a paradox in that it is a product of the free market system itself. The economic principle of natural discrimination works so that a few big firms preempt scarce resources and market opportunities. Prominent historical examples include trusts in America, Konzern in Germany and Zaibatsu in Japan in the early twentieth century. In other words, the concentration of economic power is the outcome as well as the antithesis of free competition. As long as judgment of the economic system at large depends upon the value systems of individuals, therefore, the issue of how to evaluate the concentration of economic power will inevitably be tinged with ideology. We have witnessed several different approaches to this problem such as communism, fascism and revised capitalism, and the last one seems to be the only surviving alternative. The concentration of economic power in Korea can be summarily represented by the "jaebol," namely, the conglomerate business group, the majority of whose member firms are monopolistic or oligopolistic in their respective markets and are owned by particular individuals. The jaebol has many dimensions in its size, but to sketch its magnitude, the share of the jaebol in the manufacturing sector reached 37.3% in shipment and 17.6% in employment as of 1989. The concentration of economic power can be ascribed to a number of causes. In the early stages of economic development, when the market system is immature, entrepreneurship must fill the gap inherent in the market in addition to performing its customary managerial function. Entrepreneurship of this sort is a scarce resource and becomes even more valuable as the target rate of economic growth gets higher. Entrepreneurship can neither be readily obtained in the market nor exhausted despite repeated use. Because of these peculiarities, economic power is bound to be concentrated in the hands of a few entrepreneurs and their business groups. It goes without saying, however, that the issue of whether the full exercise of money-making entrepreneurship is compatible with social mores is a different matter entirely. The rapidity of the concentration of economic power can also be traced to the diversification of business groups. The transplantation of advanced technology oriented toward mass production tends to saturate the small domestic market quite early and allows a firm to expand into new markets by making use of excess capacity and of monopoly profits. One of the reasons why the jaebol issue has become so acute in Korea lies in the nature of the government-business relationship. The Korean government has set economic development as its foremost national goal and, since then, has intervened profoundly in the private sector. Since most strategic industries promoted by the government required a huge capacity in technology, capital and manpower, big firms were favored over smaller firms, and the benefits of industrial policy naturally accrued to large business groups. The concentration of economic power which occured along the way was, therefore, not necessarily a product of the market system. At the same time, the concentration of ownership in business groups has been left largely intact as they have customarily met capital requirements by means of debt. The real advantage enjoyed by large business groups lies in synergy due to multiplant and multiproduct production. Even these effects, however, cannot always be considered socially optimal, as they offer disadvantages to other independent firms-for example, by foreclosing their markets. Moreover their fictitious or artificial advantages only aggravate the popular perception that most business groups have accumulated their wealth at the expense of the general public and under the behest of the government. Since Korea stands now at the threshold of establishing a full-fledged market economy along with political democracy, the phenomenon called the concentration of economic power must be correctly understood and the roles of business groups must be accordingly redefined. In doing so, we would do better to take a closer look at Japan which has experienced a demise of family-controlled Zaibatsu and a success with business groups(Kigyoshudan) whose ownership is dispersed among many firms and ultimately among the general public. The Japanese case cannot be an ideal model, but at least it gives us a good point of departure in that the issue of ownership is at the heart of the matter. In setting the basic direction of public policy aimed at controlling the concentration of economic power, one must harmonize efficiency and equity. Firm size in itself is not a problem, if it is dictated by efficiency considerations and if the firm behaves competitively in the market. As long as entrepreneurship is required for continuous economic growth and there is a discrepancy in entrepreneurial capacity among individuals, a concentration of economic power is bound to take place to some degree. Hence, the most effective way of reducing the inefficiency of business groups may be to impose competitive pressure on their activities. Concurrently, unless the concentration of ownership in business groups is scaled down, the seed of social discontent will still remain. Nevertheless, the dispersion of ownership requires a number of preconditions and, consequently, we must make consistent, long-term efforts on many fronts. We can suggest a long list of policy measures specifically designed to control the concentration of economic power. Whatever the policy may be, however, its intended effects will not be fully realized unless business groups abide by the moral code expected of socially responsible entrepreneurs. This is especially true, since the root of the problem of the excessive concentration of economic power lies outside the issue of efficiency, in problems concerning distribution, equity, and social justice.

• International Commerce and Information Review
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• v.10 no.4
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• pp.457-491
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• 2008

As stage equipment export markets along with special lighting service lack the attraction for already globally established businesses, such markets can be viewed as an advantageous opportunity for SMEs as in general. In reality, global businesses tend to focus on large construction projects and this indicates relatively less substantial markets such as stage equipment and special lighting service export are more suitable for SME businesses. However, possible problems may be recognized as following; doubtful capabilities by such businesses to join in the vast and competitive global market and pursue manufacturing and service based export. This point is also supported by the fact that such in general SME businesses have substantially less experience in exporting products and services abroad. Realizing the distinctive features of the Korean economy, it is unarguable that every sector and area of global market must be regarded and monitored closely. Hence, it can be argued that there is an imminent need for establishment of supportive institution to assist export process of combination of stage equipments and special lighting service. This study emphasizes the need to improve export process of stage equipments, special lighting services as well as other related products and services which have been focused in domestic market only until now. Further, it also analyzed the potential prospect of such direction reconciling current crisis our manufacturing industry is facing. Even though it maybe regarded as one of the niche market for export of Korea in the short term view, stage equipment and special lighting service industry may rapidly grow as the global cultural industries have grown along with the increase of national income earnings overall. Due to such advantageous features, it can be expected that such industries will show strong growth in the near future. After analyzing the fact that Korea's plants (eg. powerplants) export sector is at its boom, there is a need to transform stage equipment and special lighting service export market into a primary market from a secondary(niche) market for SMEs. This study is viewed from the Korean economic and export sector aspect in the aim of seeking a solution to conquest our realistic limit in our export sector by developing a suitable export model. There have been cases of very few attempts to expand abroad by SMEs who have failed miserably due to their failure to adapt to foreign culture, practice and languages as well as substantial lack in experience in export marketing. Despite this, neglecting our manufacturing industry as it is which is showing its limit and problems is out of option therefore, it is imminent that we come up with an effective measure to address this problem and service export can be suggested as one of them. This study reveals manufacturing-service export model of stage equipment and special lighting service and its related areas is recognized as a field with a very strong future and furthermore, it is expected to bring synergy effects in manufacturing and services sector as well. Further, the operation strategy contains combination, composition and fusion(convergence) of manufacturing and service sectors which could derive various of export products which displays greater success probability or this export model. The outcome of this research is expected to become a useful source for enterprises related to such industry which are seeking a possible global expansion. Furthermore, it is also expected to become a catalyst which fastens the process of global expansion and not only that, we are firmly assured that this study will become an opportunity to improve our current policies and institutions related to this area's export market.