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The Effects of e-Business on Business Performance - In the home-shopping industry - (e-비즈니스가 경영성과에 미치는 영향 -홈쇼핑을 중심으로-)

  • Kim, Sae-Jung;Ahn, Seon-Sook
    • Management & Information Systems Review
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    • v.22
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    • pp.137-165
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    • 2007
  • It seems high time to increase productivity by adopting e-business to overcome challenges posed by both external factors including the appreciation of Korean won, oil hikes and fierce global competition and domestic issues represented by disparities between large corporations and small and medium enterprises (SMEs), Seoul metropolitan and local cities, and export and domestic demand all of which weaken future growth engines in the Korean economy. The demands of the globalization era are for innovative changes in businessprocess and industrial structure aiming for creating new values. To this end, e-business is expected to play a core role in the sophistication of the Korean economy through new values and innovation. In order to examine business performance in e-business-adopting industries, this study analyzed the home shopping industry by closely looking into the financial ratios including the ratio of net profit to sales, the ratio of operation income to sales, the ratio of gross cost to sales cost, the ratio of gross cost to selling, general and administrative (SG&A) expense, and return of investment (ROI). This study, for best outcome, referred to corporate financial statements as a main resource to calculate financial ratios by utilizing Data Analysis, Retrieval and Transfer System (DART) of the Financial Supervisory Service, one of the Korea's financial supervisory authorities. First of all, the result of the trend analysis on the ratio of net profit to sales is as following. CJ Home Shopping has registered a remarkable increase in its ratio of net profit rate to sales since 2002 while its competitors find it hard to catch up with CJ's stunning performances. This is partly due to the efficient management compared to CJ's value of capital. Such significance, if the current trend continues, will make the front-runner assume the largest market share. On the other hand, GS Home Shopping, despite its best organized system and largest value of capital among others, lacks efficiency in management. Second of all, the result of the trend analysis on the ratio of operation income to sales is as following. Both CJ Home Shopping and GS Home Shopping have, until 2004, recorded similar growth trend. However, while CJ Home Shopping's operating income continued to increase in 2005, GS Home Shopping observed its operating income declining which resulted in the increasing income gap with CJ Home Shopping. While CJ Home Shopping with the largest market share in home shopping industryis engaged in aggressive marketing, GS Home Shopping due to its stability-driven management strategies falls behind CJ again in the ratio of operation income to sales in spite of its favorable management environment including its large capital. Companies in the Group B were established in the same year of 2001. NS Home Shopping was the first in the Group B to shift its loss to profit. Woori Home Shopping has continued to post operating loss for three consecutive years and finally was sold to Lotte Group in 2007, but since then, has registered a continuing increase in net income on sales. Third of all, the result of the trend analysis on the ratio of gross cost to sales cost is as following. Since home shopping falls into sales business, its cost of sales is much lower than that of other types of business such as manufacturing industry. Since 2002 in gross costs including cost of sales, SG&A expense, and non-operating expense, cost of sales turned out to have remarkably decreased. Group B has also posted a notable decline in the same sector since 2002. Fourth of all, the result of the trend analysis on the ratio of gross cost to SG&A expense is as following. Due to its unique characteristics, the home shopping industry usually posts ahigh ratio of SG&A expense. However, more than 80% of SG&A expense means the result of lax management and at the same time, a sharp lower net income on sales than other industries. Last but not least, the result of the trend analysis on ROI is as following. As for CJ Home Shopping, the curve of ROI looks similar to that of its investment on fixed assets. As it turned out, the company's ratio of fixed assets to operating income skyrocketed in 2004 and 2005. As far as GS Home Shopping is concerned, its fixed assets are not as much as that of CJ Home Shopping. Consequently, competition in the home shopping industry, at the moment, is among CJ, GS, Hyundai, NS and Woori Home Shoppings, and all of them need to more thoroughly manage their costs. In order for the late-comers of Group B and other home shopping companies to advance further, the current lax management should be reformed particularly on their SG&A expense sector. Provided that the total sales volume in the Internet shopping sector is projected to grow over 20 trillion won by the year 2010, it is concluded that all the participants in the home shopping industry should put strategies on efficient management on costs and expenses as their top priority rather than increase revenues, if they hope to grow even further after 2007.

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A Study on the Costume Style of Civil Servants' Stone Images Erected at Tombs of the Kings for Yi-dynasty (조선왕조(朝鮮王朝) 왕릉(王陵) 문인석상(文人石像)의 복식형태(服飾形態)에 관한 연구)

  • Kwon, Yong-Ok
    • Journal of the Korean Society of Costume
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    • v.4
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    • pp.87-114
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    • 1981
  • A costume reveals the social characteristics of the era in which it is worn, thus we can say that the history of change of the costume is the history of change of the living culture of the era. Since the Three States era, the costume structure of this country had been affected by the costume system of the China's historical dynasties in the form of the grant therefrom because of geographical conditions, which affection was conspicuous for the bureaucrat class, particularly including but not limited to the Kings' familities. Such a grant of the costume for the bureaucrat class (i.e., official uniform) was first given by the Dang-dynasty at the age of Queen Jinduck, the 28th of the Shilla-dynasty. Since then, the costume for the bureaucrats had consecutively been affected as the ages had gone from the unified Shilla, to the Koryo and to the Yi-dynasty. As the full costumes officially used by government officials (generally called "Baek Gwan") in the Yidynasty, there existed Jo-bok, Gong-bok and Sang-bok. Of such official costumes, Gong-bok was worn at the time of conducting official affairs of the dynasty, making a respectful visit for the expression of thanks or meeting diplomatic missions of foreign countries. It appears no study was made yet with regard to the Gong-bok while the studies on the Jo-bok and the Sangbok were made. Therefore, this article is, by rendering a study and research on the styles of costumes of civil servants' stone images erected at the Kings' tombs of the Yi-dynasty, to help the persons concerned understand the Gong-bok, one of the official costume for Baek Kwan of that age and further purports to specifically identify the styles and changes of the Gong-bok, worn by Baek Gwan during the Yi-dynasty, consisting of the Bok-doo (a hat, four angled and two storied with flat top), Po (gown), Dae (belt), and Hol (small and thin plate which was officially held by the government officials in hand, showing the courtesy to and writing brief memorandums before the King) and Hwa (shoes). For that purpose, I investigated by actually visiting the tombs of the Kings of the Yi-dynasty including the Geonwon-neung, the tomb of the first King Tae-jo and the You-neung, the tomb of the 27th King Soon-jong as well as the tombs of the lawful wives and concubines of various Kings, totalling 29 tombs and made reference to relevant books and records. Pursuant. to this study, of the 29 Kings' tombs the costume styles of civil servants' stone images erected at the 26 Kings' tombs are those of Gong-bok for Baek-gwan of the Yi-dynasty wearing Bok-doo as a hat and Ban-ryeong or Dan-ryenog Po as a gown with Dae, holding Hol in hand and wearing shoes. Other than those of the 26 tombs, the costume styles of the Ryu-neung, the tomb of the Moon-jo who was the first son of 23rd King Soon-jo and given the King's title after he died and of the You-neung, the tomb of the 27th King Soon-jong are those of Jobok with Yang-gwan (a sort of hat having stripes erected, which is different from the Bok-doo), and that of the Hong-neung, the tomb of the 26th King Go-jong shows an exceptional one wearing Yang-gwan and Ban-ryeong Po ; these costume styles other than Gongbok remain as the subject for further study. Gong-bok which is the costume style of civil servants' stone images of most of the Kings' tombs had not been changed in its basic structure for about 500 years of the Yi-dynasty and Koryo categorized by the class of officials pursuant to the color of Po and materials of Dae and Hol. Summary of this costume style follows: (1) Gwan-mo (hat). The Gwan-mo style of civil servants' stone images of the 26 Kings' tombs, other than Ryu-neung, Hong-neung and You-neung which have Yang-gwan, out of the 29 Kings' tombs of the Yi-dynasty reveals the Bok-doo with four angled top, having fore-part and back-part divided. Back part of the Bok-doo is double the fore-part in height. The expression of the Gak (wings of the Bokdoo) varies: the Gyo-gak Bok-doo in that the Gaks, roundly arisen to the direction of the top, are clossed each other (tombs of the Kings Tae-jong), the downward style Jeon-gak Bok-doo in that soft Gaks are hanged on the shoulders (tombs of the Kings Joong-jong and Seong-jong) and another types of Jeon-gak Bok-doo having Gaks which arearisen steeply or roundly to the direction of top and the end of which are treated in a rounded or straight line form. At the lower edge one protrusive line distinctly reveals. Exceptionally, there reveals 11 Yang-gwan (gwan having 11 stripes erected) at the Ryu-neung of the King Moon-jo, 9 Yang-gwan at the Hong-neung of the King Go-jong and 11 Yang-gwan at the You-neung of the King Soon-jong; noting that the Yang-gwan of Baek Kwan, granted by the Myeong-dynasty of the China during the Yi-dynasty, was in the shape of 5 Yang-gwan for the first Poom (class) based on the principle of "Yideung Chaegang" (gradual degrading for secondary level), the above-mentioned Yang-gwans are very contrary to the principle and I do not touch such issue in this study, leaving for further study. (2) Po (gown). (a) Git (collar). Collar style of Po was the Ban-ryeong (round collar) having small neck-line in the early stage and was changed to the Dan-ryeong (round collar having deep neck-line) in the middle of the: dynasty. In the Dan-ryeong style of the middle era (shown at the tomb of the King Young-jo); a, thin line such as bias is shown around the internal side edge and the width of collar became wide a little. It is particularly noted that the Ryu-neung established in the middle stage and the You-neung in the later stage show civil servants in Jo-bok with the the Jikryeong (straight collar) Po and in case of the Hong-neung, the Hong-neung, the tomb of the King Go-jong, civil servants, although they wear Yang-gwan, are in the Ban-ryeong Po with Hoo-soo (back embroidery) and Dae and wear shoes as used in the Jo-bok style. As I could not make clear the theoretical basis of why the civil servants' costume styles revealed, at these tombs of the Kings are different from those of other tombs, I left this issue for further study. It is also noted that all the civil servants' stone images show the shape of triangled collar which is revealed over the Godae-git of Po. This triangled collar, I believe, would be the collar of the Cheomri which was worn in the middle of the Po and the underwear, (b) Sleeve. The sleeve was in the Gwan-soo (wide sleeve) style. having the width of over 100 centimeter from the early stage to the later stage arid in the Doo-ri sleeve style having the edge slightly rounded and we can recognize that it was the long sleeve in view of block fold shaped protrusive line, expressed on the arms. At the age of the King Young-jo, the sleeve-end became slightly narrow and as a result, the lower line of the sleeve were shaped curved. We can see another shape of narrow sleeve inside the wide sleeve-end, which should be the sleeve of the Cheom-ri worn under the Gong-bok. (c) Moo. The Moo revealed on the Po of civil servants' stone images at the age of the King Sook-jong' coming to the middle era. Initially the top of the Moo was expressed flat but the Moo was gradually changed to the triangled shape with the acute top. In certain cases, top or lower part of the Moo are not reveald because of wear and tear. (d) Yeomim. Yeomim (folding) of the Po was first expressed on civil servants' stone images of the Won-neung, the tomb of the King Young-jo and we can seemore delicate expression of the Yeomim and Goreum (stripe folding and fixing the lapel of the Po) at the tomb of the Jeongseong-wanghoo, the wife of the King Young-jo, At the age of the King Soon-jo, we can see the shape of Goreum similar to a string rather than the Goreum and the upper part of the Goreum which fixes Yeomim was expressed on the right sleeve. (3) Dae. Dae fixed on the Po was placed half of the length of Po from the shoulders in the early stage. Thereafter, at the age of the King Hyeon-jong it was shown on the slightly upper part. placed around one third of the length of Po. With regard to the design of Dae, all the civil servants' stone images of the Kings' tombs other than those of the Geonwon-neung of the King Tae-jo show single or double protrusive line expressed at the edge of Dae and in the middle of such lines, cloud pattern, dangcho (a grass) pattern, chrysanthemum pattern or other various types of flowery patterns were designed. Remaining portion of the waist Dae was hanged up on the back, which was initially expressed as directed from the left to the right but thereafter expressed. without orderly fashion,. to the direction of the left from the right and vice versa, Dae was in the shape of Yaja Dae. In this regard, an issue of when or where such a disorderly fashion of the direction of the remaining portion of waist Dae was originated is also presented to be clarified. In case of the Ryuneung, Hong-neung and You-neung which have civil servants' stone images wearing exceptional costume (Jo-bok), waist Dae of the Ryu-neung and Hong-neung are designed in the mixture of dual cranes pattern, cosecutive beaded pattern and chrvsenthemum pattern and that of You-neung is designed in cloud pattern. (4) Hol. Although materials of the Hol held in hand of civil servants' stone images are not identifiable, those should be the ivory Hol as all the Baek Gwan's erected as stone images should be high class officials. In the styles, no significant changes were found, however the Hol's expressed on civil servants' stone images of the Yi-dynasty were shaped in round top and angled bottom or round top and bottom. Parcicularly, at the age of the King Young-jo the Hol was expressed in the peculiar type with four angles all cut off. (5) Hwa (shoes). As the shoes expressed on civil servants' stone images are covered with the lower edges of the Po, the styles thereof are not exactly identifiable. However, reading the statement "black leather shoes for the first class (1 Poom) to ninth class (9 Poom)," recorded in the Gyeongkook Daejon, we can believe that the shoes were worn. As the age went on, the front tips of the shoes were soared and particularly, at the Hong-neung of the King Go-jong the shoes were obviously expressed with modern sense as the country were civilized.

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Development and Verification of a Large Scale Resonant Column Testing System (대형 공진주시험기의 개발 및 검증)

  • Kim, Nam-Ryong;Ha, Ik-Soo;Shin, Dong-Hoon;Kim, Min-Seub
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.32 no.6C
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    • pp.295-304
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    • 2012
  • In this study, a resonant column testing system which is the largest in Korea has been developed to evaluate the dynamic deformation characteristics of coarse granular geomaterials, and the performance and the applicability of the testing system have been verified. The system has been developed as a typical Stokoe type device whose boundary conditions are fixed bottom and free top with additional mass, and can adopt a large specimen with 200 mm in diameter and 400 mm in height. The driving and measurement instruments are configured as high performance and precision systems, hence the automated testing system is appropriate to drive enough stress and to measure the behavior precisely for the test in practical manner. The dynamic response of the mechanical components and the applicability of the system have been evaluated using metal specimens as well as polyurethane specimens, and its precision was verified by comparing its results with those from other equipment and/or methods. To confirm the applicability of the large system for coarse geomaterials, the resonant column test results from both large and normal scale apparatus for the same material were compared and it was found that the result can be partially affected by scale. Finally, the dynamic deformation characteristics of coarse geomaterial which is used for construction of large dam was evaluated using the large system and its practicality could be confirmed.

Real-Time Traffic Information and Road Sign Recognitions of Circumstance on Expressway for Vehicles in C-ITS Environments (C-ITS 환경에서 차량의 고속도로 주행 시 주변 환경 인지를 위한 실시간 교통정보 및 안내 표지판 인식)

  • Im, Changjae;Kim, Daewon
    • Journal of the Institute of Electronics and Information Engineers
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    • v.54 no.1
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    • pp.55-69
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    • 2017
  • Recently, the IoT (Internet of Things) environment is being developed rapidly through network which is linked to intellectual objects. Through the IoT, it is possible for human to intercommunicate with objects and objects to objects. Also, the IoT provides artificial intelligent service mixed with knowledge of situational awareness. One of the industries based on the IoT is a car industry. Nowadays, a self-driving vehicle which is not only fuel-efficient, smooth for traffic, but also puts top priority on eventual safety for humans became the most important conversation topic. Since several years ago, a research on the recognition of the surrounding environment for self-driving vehicles using sensors, lidar, camera, and radar techniques has been progressed actively. Currently, based on the WAVE (Wireless Access in Vehicular Environment), the research is being boosted by forming networking between vehicles, vehicle and infrastructures. In this paper, a research on the recognition of a traffic signs on highway was processed as a part of the awareness of the surrounding environment for self-driving vehicles. Through the traffic signs which have features of fixed standard and installation location, we provided a learning theory and a corresponding results of experiment about the way that a vehicle is aware of traffic signs and additional informations on it.

On-Road Car Detection System Using VD-GMM 2.0 (차량검출 GMM 2.0을 적용한 도로 위의 차량 검출 시스템 구축)

  • Lee, Okmin;Won, Insu;Lee, Sangmin;Kwon, Jangwoo
    • The Journal of Korean Institute of Communications and Information Sciences
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    • v.40 no.11
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    • pp.2291-2297
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    • 2015
  • This paper presents a vehicle detection system using the video as a input image what has moving of vehicles.. Input image has constraints. it has to get fixed view and downward view obliquely from top of the road. Road detection is required to use only the road area in the input image. In introduction, we suggest the experiment result and the critical point of motion history image extraction method, SIFT(Scale_Invariant Feature Transform) algorithm and histogram analysis to detect vehicles. To solve these problem, we propose using applied Gaussian Mixture Model(GMM) that is the Vehicle Detection GMM(VDGMM). In addition, we optimize VDGMM to detect vehicles more and named VDGMM 2.0. In result of experiment, each precision, recall and F1 rate is 9%, 53%, 15% for GMM without road detection and 85%, 77%, 80% for VDGMM2.0 with road detection.

A Study of Compressibility on a Natural Almandine Using Synchrotron Radiation (방사광을 이용한 천연산 알만딘의 압축성 연구)

  • Hwang Gil Chan;Kim Young-Ho
    • Journal of the Mineralogical Society of Korea
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    • v.18 no.4 s.46
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    • pp.249-257
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    • 2005
  • Garnet is one of the major minerals down to the top of lower mantle approximately 660 km with spinel and pyroxenes. Garnet transforms into perovskite and corundum in the lower mantle, however its sequence is still in controversy. We measured the compressibility of a natural almandine at high-pressure up to 62 CPa using Mao-Bell type diamond anvil cell (DAC) at room temperature. Chemical formula of the specimen is ($Fe_{2.52}Ca_{0.21}Mg_{0.18}Mn_{0.12})Al_{2.23}Si_{2.97}O_{12}$. Results of this compression study are as follows: a : $10.175\;{\AA}$, V : $1251.16\;{\AA}^{3}$, $D_{x}$ : $5.265\;g/cm^{3}$ at 62 GPa; bulk modulus is 156 GPa using Birch-Murnaghan equation of state (EoS) with a fixed $K_{0}\;'$ of 4. This study would be the first time attempt accomplished with the high pressure DAC using synchrotron radiation at the Pohang Light Source (PLS) in Korea.

A Study on Applicability and External / Internal Stability of true MSEW abutment with slab (순수형 보강토교대의 슬래브교에 대한 적용성 및 외적/내적 안정성 검토)

  • Park, Min-Cheol
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.19 no.5
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    • pp.263-274
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    • 2018
  • In this study, the applicability and external/internal stability of a MSEW abutment with a slab were investigated. Structural analysis of slab bridges between 10 ~ 20.0 m and thicknesses of 0.7 ~ 0.9 m was carried out to calculate the reaction forces due to dead and live loads acting on the bridge supports. The slab bridge with a length of 20.0 m satisfied the allowable contact pressure of 200 kPa for the true MSEW abutment. Because the external stability of the true MSEW abutment was dominated by the geometry of the MSE wall, the change in the factor of safety due to the load of the super-structure is small. Because the stiffness of the foundations is fixed and the load of the super-structure is increased, the factor of safety of the bearing capacity was reduced. As the load of the super-structure was increased, the horizontal earth pressure of the true MSEW abutment increased greatly. As a result, the pullout and fracture of the uppermost reinforcement, which are the factors of safety, did not meet the design criteria. Therefore, it is necessary to increase the pullout resistance and the long-term allowable tensile force of the reinforcement placed on the top of the reinforced soils to ensure efficient design and performance of a true MSEW abutment.

Bidirectional Factor of Water Leaving Radiance for Geostationary Orbit (정지궤도를 위한 해면방사휘도$(L_w)$의 양방향 계수 (bidirectional factor) 평가 연구)

  • Park, Jin-Kyu;Han, Hee-Jeong;Mun, Jeong-Eon;Yang, Chan-Su;Ahn, Yu-Hwan
    • Proceedings of KOSOMES biannual meeting
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    • 2006.11a
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    • pp.181-186
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    • 2006
  • Geostationary Orbit satellite, unlike other sun-synchronous polar-orbit satellites, will be able to take a picture of a large region several times a day (almost with everyone hour interval). For geostationary satellite, the target region is fixed though the location of sun is changed always. However, Sun-synchronous polar-orbit satellites able to take a picture of target region same time a everyday. Thus Ocean signal is almost same. Accordingly, the ocean signal of a given target point is largely dependent on time. In other words, the ocean signal detected by geostationary satellite sensor must translate to the signal of target when both sun and satellite are located in nadir, using another correction model. This correction is performed with a standardization of signal throughout relative geometric relationship among satellite-sun-target points. This relative ratio called bidirectional factor. To find relationship between time and $[L_w]_N$/Bidirectional Factor differences, we are calculate solar position, geometry parameters. And reflectance, total radiance at the top of atmosphere(). And water leaving radiance, normalized water leaving radiance. And calculate bidirectional factor, that is the ratio of $[L_w]_N$ between target region and aiming the point. Then, we can make the bidirectional factor lookup table for one year imaging. So, we suggested for necessary to simulation experiment bidirectional factor in more various condition(wavelength and ocean/air condition).

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Modeling Age-specific Cancer Incidences Using Logistic Growth Equations: Implications for Data Collection

  • Shen, Xing-Rong;Feng, Rui;Chai, Jing;Cheng, Jing;Wang, De-Bin
    • Asian Pacific Journal of Cancer Prevention
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    • v.15 no.22
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    • pp.9731-9737
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    • 2014
  • Large scale secular registry or surveillance systems have been accumulating vast data that allow mathematical modeling of cancer incidence and mortality rates. Most contemporary models in this regard use time series and APC (age-period-cohort) methods and focus primarily on predicting or analyzing cancer epidemiology with little attention being paid to implications for designing cancer registry, surveillance or evaluation initiatives. This research models age-specific cancer incidence rates using logistic growth equations and explores their performance under different scenarios of data completeness in the hope of deriving clues for reshaping relevant data collection. The study used China Cancer Registry Report 2012 as the data source. It employed 3-parameter logistic growth equations and modeled the age-specific incidence rates of all and the top 10 cancers presented in the registry report. The study performed 3 types of modeling, namely full age-span by fitting, multiple 5-year-segment fitting and single-segment fitting. Measurement of model performance adopted adjusted goodness of fit that combines sum of squred residuals and relative errors. Both model simulation and performance evalation utilized self-developed algorithms programed using C# languade and MS Visual Studio 2008. For models built upon full age-span data, predicted age-specific cancer incidence rates fitted very well with observed values for most (except cervical and breast) cancers with estimated goodness of fit (Rs) being over 0.96. When a given cancer is concerned, the R valuae of the logistic growth model derived using observed data from urban residents was greater than or at least equal to that of the same model built on data from rural people. For models based on multiple-5-year-segment data, the Rs remained fairly high (over 0.89) until 3-fourths of the data segments were excluded. For models using a fixed length single-segment of observed data, the older the age covered by the corresponding data segment, the higher the resulting Rs. Logistic growth models describe age-specific incidence rates perfectly for most cancers and may be used to inform data collection for purposes of monitoring and analyzing cancer epidemic. Helped by appropriate logistic growth equations, the work vomume of contemporary data collection, e.g., cancer registry and surveilance systems, may be reduced substantially.

Efficiency Analysis of Ocean Shipping Lines Using Non Radial DEA Model (비방사적 DEA 모형을 활용한 외항해운기업의 경영효율성 분석에 관한 연구)

  • Lee, Tae-Hwee;Yeo, Gi-Tae
    • Journal of Korea Port Economic Association
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    • v.31 no.1
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    • pp.37-49
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    • 2015
  • According to outstanding maritime economists from domestic and overseas, shipping lines or ships' enlargement reduce fixed costs, and assist realization of scale of economy of shipping. On the contrary, recent Korean liquidity crisis on the shipping lines (SL) has been focused on the leading companies such as Hanjin Shipping (HJS), Korealines, and STX Pan Ocean. In this respect, this study aims to review Korean SLs' strategies and suggest the optimal solution between the specialization and enlargement. For these purposes, this research adopts slack based measure data envelopment analysis (SBM-DEA) model as a research methodology. As for decision making units (DMUs), SLs which have increased the vessel numbers and belonged to top tier group in year 2013, are selected. The results are comprised with two aspects. Firstly, HJS, KMTC, Korea LNG Trading (KLT), EUKOR, and Sinokor Tanker show the most efficient in regard to constant return to scale (CRS) model. Secondly, HJS, KMTC, KLT, Daerim, Chungang, Sinnokor Tanker, and EUKOR are the most efficient companies in terms of variable return to scale (VRS) model. Lastly, these results could be affected to the management philosophy and can answer the following question. Which is the most optimized SL?s management decision making, enlargement or specialization?