• Journal of the Korean Society of Food Science and Nutrition
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• v.44 no.11
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• pp.1708-1714
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• 2015

Fermented red ginseng concentrate is known as a healthy food source, whereas it has off-flavor such as bitterness and sour flavor based on fermentation. ${\beta}$- and ${\gamma}$-cyclodextrin (CD) were used to encapsulate the off-flavor of fermented red ginseng concentrate by using response surface methodology design on ${\beta}$- and ${\gamma}-CD$ combination. The reducing effects were analyzed by sensory evaluation for bitter and sour tastes, ginsenoside Rb1, and total acidity. The optimized mixing ratio of ${\beta}$- and ${\gamma}-CD$ for reducing bitterness was the least expected value of 2.07 at ${\beta}-CD$ 3.74% versus the soluble solid content of fermented red ginseng concentrate and the ${\gamma}-CD$ 20.63% mixture. The encapsulation effects of ginsenoside Rb1 were the most expected value of 96.75% at ${\beta}-CD$ 3.47% and ${\gamma}-CD$ 19.89% mixture. The encapsulation effects of sour taste were the least expected value of 5.63 at ${\beta}-CD$ 9.34% and ${\gamma}-CD$ 9.96% mixture. The encapsulation effects of lactic acid were the most expected value of 67.73% at ${\beta}-CD$ 16.0% and ${\gamma}-CD$ 13.18% mixture. Based on encapsulation and each optimized combination, the most effective entrapping ${\beta}$-and ${\gamma}-CD$ combination ratio was ${\beta}-CD$ 10% and ${\gamma}-CD$ 13%.

• Asia pacific journal of information systems
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• v.18 no.3
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• pp.45-65
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• 2008

The rapid growth of the Internet has increased the amount of transmission of personally identifiable information. At the same time, with new Internet related technologies, organizations are trying to collect and access more personal information than before, which in turn makes individuals concern more about their information privacy. For their successful businesses, organizations have tried to alleviate these concerns in two ways: (1) by offering privacy policies that promise certain level of privacy protection; (2) by offering benefits such as financial gains or convenience. In this paper, we interpret these actions in the context of the information processing theory of motivation. This paper follows Hann et al.(2007)'s methods to analyze Internet users privacy concerns in Korea and tries to compare the findings. Our research objectives are as follows: First, we analyze privacy concern mitigation strategies in the framework of the expectancy theory of motivation. Subsequently, we show how the expectancy theory based framework is linked o the conjoint analysis. We empirically validate the predictions that the means to mitigate privacy concerns are associated with positive valences resulting in an increase in motivational score. In order to accommodate real-life contexts, we investigate these means in trade-off situation, where an organization may only be able to offer partially complete privacy protection and/or promotions and/or convenience, While privacy protection (secondary use, improper access) are associated with positive valences, we also find that financial gains can significantly increase the individuals' motivational score of a website in Korea. One important implication of this empirical analysis is that organizations may possess means to actively manage the privacy concerns of Internet users. Our findings show that privacy policies are valued by users in Korea just as in the US or Singapore. Hence, organizations can capitalize on this, by stating their privacy policy more prominently. Also organizations would better think of strategies or means that may increase online users' willingness to provide personal information. Since financial incentives also significantly increase the individuals' motivational score of website participation, we can quantify the value of website privacy protection in terms of monetary gains. We find that Korean Internet users value the total privacy protection (protection against errors, improper access, and secondary use of personal information) as worthy as KW 25,550, which is about US 28. Having done this conjoint analysis, we next adopt cluster analysis methodology. We identify two distinct segments of Korea's internet users-privacy guardians and information sellers, and convenience seekers. The immediate implication of our study is that firms with online presence must differentiate their services to serve these distinct segments to best meet the needs of segments with differing trade-offs between money and privacy concerns. Information sellers are distinguished from privacy guardians by prior experience of information provision, To the extent that businesses cannot observe an individual's prior experience, they must use indirect methods to induce segmentation by self-selection as suggested in classic economics literature of price discrimination, Businesses could use monetary rewards to attract information sellers to provide personal information. One step forward from the societal trends that emphasize the need of legal protection of information privacy, our study wants to encourage organizations and related authorities to have the viewpoints to consider both importance of privacy protection and the necessity of information trade for the growth of e-commerce.

• Korean Journal of Construction Engineering and Management
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• v.16 no.4
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• pp.98-106
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• 2015

VE aims at reduction in a budget, improvement of function, structural safety and quality security for public construction projects. However, there is possibility for the structural safety and quality security review to be insufficient because related regulations are mostly composed of analysis on economic efficiency of design. In addition, due to the misconception about VE as a cost saving methodology, an alternative is being presented which still focuses mainly on cost saving, but with no objective evaluation of function related to cost. In order to improve this, the government adopted the reduction of life cycle cost and proposal of value improvement, and let people specify the cost and function of the original plan versus the alternative plan, and the value changes between them. However, it is written mainly into practical convenience rather than theoretical basis since a specific way is not suggested. The current method sets a different starting point by applying the attributional difference of function and cost. Furthermore, an evaluation standard for correlating is an important element in rational decision making for assessing and choosing an alternative. This paper analyzes the process and method of function & cost scoring when performing VE and suggests a mathematical normalization model in order to support rational decision making when selecting an optimum plan.

• Journal of Distribution Science
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• v.13 no.11
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• pp.69-77
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• 2015

Purpose - Economic status at an early stage of life after one's retirement is often determined by the long-term sacrifice of one's earlier consumption tendencies. In general, the first and foremost way to secure income after retirement is through annuity savings. People sign up for personal annuity savings in order to guarantee a stable economic life upon retirement, and such actions may be heavily influenced by self-efficacy. Confidence in current economic activity is a source of rational decision-making. Inability to achieve self-control can lead to reckless spending and the eventual hindering of proper investment for the future. This paper examines how self-efficacy and self-control affect the intention and action of enrolling in an annuity savings plan in relation to one's level of financial literacy. Research design, data, and methodology - To analyze the proposed model, this study investigates financial consumers over the age of 20. The data were collected from 511 respondents and analyzed with SPSS 21.0 and AMOS 21.0. First, for the one-dimensional test and to measure the convergent validity of each structure, we use the scale purification process. The results of the test and the confirmatory factor analysis ensure the focus of the validity of the single dimension for each structure. In addition, the validity of the measurement was guaranteed from the results of correlation analysis. Results - First, self-efficacy and self-control have positive effects on the purchasing intention of the personal annuity savings plan. Second, purchasing intention positively affects purchasing behavior. Lastly, self-control has a positive effect on purchasing intention among the low financial literacy group, whereas self-efficacy does not have this effect in the high financial literacy one. Conclusions - The time of product benefit is different with age. The younger group would be granted the savings after several decades once they enroll, whereas the older group would wait for a relatively shorter period of time. Therefore, further research should be conducted in order to verify such a difference. However, this study has value through its confirmation that the roles of self-efficacy and self-control play a part in leading to the enrollment in annuity savings plans and by verifying different effects based on levels of financial literacy. Such results suggest a number of implications in a real life setting. First, banks need to put greater emphasis on the stability of annuity savings in general. Second, customers with relatively low levels of financial literacy are able to control their finances through annuity savings, but find self-efficacy difficult due to a lack of financial understanding. Therefore, such customers should be approached from an invest-effectiveness comparison method. Third, customers with high financial literacy tend to put more value in rational economic decision-making and behavior than in self-efficacy. Therefore, such customers should be approached by promoting the reliability of annuity savings and the excellence of the specific bank's annuity savings plan in comparison to those of other financial institutions.

• Journal of Distribution Science
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• v.11 no.2
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• pp.23-33
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• 2013

Purpose - Numerous studies have tried to assess the role of a warranty as an explanatory instrument for product quality. While one study argued that manufacturers signal their superior quality to consumers by extending the duration of a warranty, quality is not necessarily related to warranty and a warranty for a short duration is a sign of high product quality. However, there are limitations to measuring product quality in terms of a single variable such as a warranty. Some other studies have evaluated the influence of brand power or value and price on the supposed quality of a product while the influence of warranty was found to be insignificant. Research design, data, methodology - The study analyzes the influence of brand power and the country of origin effect on consumers' perception of product quality in line with warranty and establishes a priority strategy. Especially, consumer experience has a significant influence on state of the art technology products like applied home electronics as these goods are generally quite expensive and consumers expend significant energy in purchasing them, so the associated warranty and brand can have a critical role in the decision making process. The price of the product was excluded in this discussion as it continually varies with the market share of the product. Results - The results of the analysis are as follows: First, each of the factors such as the standard of the warranty, brand power, and country of origin effect influences the degree of satisfaction of an individual. Second, the factors brand power and quality of the warranty interact both complementarily and synergistically at a time, depending on the brand power. As brand power is more significant, the degree of satisfaction is greater in case of products with low quality warranty compared to those with high quality warranty. Third, the brand power and country of origin effect present a complementary interaction. Fourth, the country of origin effect and quality of a warranty interact synergistically. Conclusions - Thus, the higher the quality of warranty, greater is the increment in the degree of satisfaction. The comprehensive study on the effect of the country of origin on the purchase decision process and the degree of satisfaction compared to the other elements shows that in case of Japanese and Korean markets the brand power of a company is desirable in sustaining the quality of warranty to the industrial average. Also, there is no significant improvement in the perceived quality of the product when the quality of the warranty is lowered. Therefore, the warranty effect diminishes when the value of the brand is known, while it perishes when both the brand power and the country of origin effect are strong enough.

• Journal of the Korea Convergence Society
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• v.11 no.7
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• pp.113-123
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• 2020

The purpose of this study is to quantitatively demonstrate that rational and emotional factors in urban tourist facilities affect visitor satisfaction, positive word of mouth and subsequent revisits. Therefore, the researcher used structural modeling methodology to test the paths and relationships between the rational and emotional perception, satisfaction, word of mouth, and exogenous variables (aesthetics, economic utility, accessibility, emotional attachment, etc.) of urban tourism facilities perceived by users. As a result of the study, users of urban tourism facilities are affected by customer satisfaction such as ease, usability, and pleasure based on intangible assets such as kindness, aesthetics, symbolism, attachment, and rational factors, which are emotional impressions of urban tourism facilities, and utility, and customer satisfaction. These were found to have a positive and lasting effect on users' perceptions of the facility. Therefore, if the rational and emotional values of urban tourism facilities are considered and integrated in marketing, efficiency can be maximized in terms of satisfaction, word of mouth, and future revisits. The researcher considered that this study could contribute to the revitalization of the tourism industry and the city as a whole through the improvement and utilization of various tourism facilities possessed by the city.

• Journal of Distribution Science
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• v.13 no.10
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• pp.109-114
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• 2015

Purpose - The movie market has the characteristics of being a perfectly competitive market as well as a pure monopolistic market at the same time. This is because there are competitors in the industry but prices, although not fixed, have not changed a lot. Price competition may not have spread, but the competition is focused on artistic value, and the degree of box office success is most important. The artistic value is determined in the course of the production process. However, the degree of box office success is dependent upon the marketing manager. The marketing strategy represents the difference in the standard or quality of the movie. Inherently, the marketing manager adopts the entertainment strategy based on the quality of the foundation of the completed movie. At this time, the marketing manager knows the pertinent information (high quality/low quality) regarding the movie. This research study tries to reveal what should be the reasonable movie marketing expense, dependent on the quality of the movie. Research design, data, and methodology - Using a game scenario with different market players, the goal of the research analysis is to find out the following. First, the marketing expense is determined to maximize the profits after film production. Second, after the production costs are already committed, the manufacturer gets to choose the marketing level. At this time, there will be a profit maximization point, considering the competition. The premise of the research is as follows: if it is a good movie of quality, positive word of mouth increasing the audience continuously slows down the speed of the demand curve. If the movie quality is bad, the negative word of mouth decreasing the audience gradually hastens the speed of the demand curve. On the marketing side, when the manufacturer invests heavily in the marketing expense of the movie, consumer expectations increase to drive up the audience numbers. On the other hand, it is difficult to improve the profits excessively. When the manufacturer invests in marketing a little bit, the marketing expense is only relatively committed, therefore a lot of demand cannot be gained. Results - If a fixed market share is in a competitive situation, a low quality manufacturer expends relatively more marketing expense. If the situation assumes two manufacturers spend the same for the cost of production, the high quality manufacturer takes more profit. If the manufacturer expends less marketing budget to save costs, the optimum profit cannot be achieved since the other party (opponent) grabs the initial market share. Conclusions - In conclusion, investment is essential for market share to increase. We must refrain from a zero-sum game and have models where the game participants pursue the creative profits together. In the current film industry, there is the dominating logic of winner and loser but we have to create a film industry environment where the participants can be altogether satisfied and live together.

• Journal of Distribution Science
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• v.12 no.12
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• pp.93-100
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• 2014

Purpose - This study investigated the effect of the negative affect on compulsive buying and the interaction effect of the negative affect depending on the level of mindfulness. Compulsive buying is defined as chronic, repetitive purchasing that becomes an overlearned and automatic way to cope with negative feelings, and compulsive buyers may be particularly susceptible to cognitive narrowing when shopping. Mindfulness may be defined as a coordinative regulatory process to increase the level of attention by recognizing the present experiences non-judgmentally. Hence, mindfulness can be related with negative psychological results such as general mental distress, especially compulsive buying. The purpose of the current study is to examine the relationship between compulsive buying and mindfulness. In another words, this study investigated the effect of the internal regulatory mechanism (that is, mindfulness) on the mental disorder resulting from negative affect in the area of consumption (that is, compulsive buying). Research design, data, and methodology - One hundred and twenty-five college students were recruited for this study. The subjects were classified into two groups according to the degree of the negative affect (High Negative Affect Group vs. Low Negative Affect Group) by the mean value of negative affect (=2.47). The subjects were classified into two other groups according to the degree of mindfulness (High Mindfulness Group vs. Low Mindfulness Group) by the mean value of mindfulness (= 3.47). To analyze the effect of negative affect on compulsive buying, the degree of compulsive buying of the High and Low Negative Affect Groups were compared. To examine the moderating effect of mindfulness by using factorial design, the interaction effect of the negative affect (High vs. Low) and the mindfulness (High vs. Low) were analyzed. Results - The degree of the compulsive buying was higher when the degree of the negative affect was higher than lower (3.06High Negative Affect Group vs. 2.87Low Negative Affect Group, p=.014). The difference in the degree of the compulsive buying was larger when the degree of the mindfulness was lower than higher. In other words, the interaction effect of the negative affect and the mindfulness on the compulsive buying could be found (F(1,124)=10.098, p<.01). Conclusions - The results of the current study showed that the compulsive buying is influenced by the negative affect and that the effect of the negative affect on the compulsive buying varies depending on the level of the mindfulness. These results can be interpreted to imply that consumers who are in a state of high mindfulness pay attention to every minute of experience and activate the coordinatory function and that, eventually, habitual and reflective responses such as compulsive buying are restricted. It is concluded that consumers' mindfulness can facilitate the self-regulatory responses and alleviate the influence of negative affect on compulsive buying. Based on these results, the theoretical and practical implications of this research were discussed and the limitations and future research areas were suggested.

• Journal of Korean Society of Disaster and Security
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• v.13 no.2
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• pp.27-38
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• 2020

Climate variations have become worse and diversified recently, which caused catastrophic disasters for our communities and ecosystem including economic property damages in Korea. Heat wave of summer season is one of causes for such damages of which outbreak tends to increase recently. Related short-term forecasting information has been provided by the Korea Meteorological Administration based on results from numerical forecasting model. As the study area, the ◯◯ province was selected because of the highest mortality rate in Korea for the past 15 years (1998~2012). When comparing the forecasted temperatures with field measurements, it showed RMSE of 1.57℃ and RMSE of 1.96℃ was calculated when only comparing the data corresponding to the observed value of 33℃ or higher. The forecasting process would take at least about 3~4 hours to provide the 4 hours advanced forecasting information. Therefore, this study proposes a methodology for temperature prediction using LSTM considering the short prediction time and the adequate accuracy. As a result of 4 hour temperature prediction using this approach, RMSE of 1.71℃ was occurred. When comparing only the observed value of 33℃ or higher, RMSE of 1.39℃ was obtained. Even the numerical prediction model of the whole range of errors is relatively smaller, but the accuracy of prediction of the machine learning model is higher for above 33℃. In addition, it took an average of 9 minutes and 26 seconds to provide temperature information using this approach. It would be necessary to study for wider spatial range or different province with proper data set in near future.

• Journal of Distribution Science
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• v.12 no.6
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• pp.81-88
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• 2014

Purpose - Entrepreneurship promotion is emerging as an important economic growth agenda. However, in Korea, entrepreneurship has weakened because of the collapse of the venture bubbles of the 2000s and the global economic recession in 2008, which have induced the business community to choose stability over risk. The Korean government has been implementing several support projects to inspire and promote youth entrepreneurship through various means including financial assistance; however, the perpetuation rate of young entrepreneurship is still low as compared to advanced economies such as the US and EU. This case study focuses on the Youth Start-Up Business Support Program of the Small & Medium Business Corporation, and explores practical alternatives. Further, it aims to suggest managerial factors and a conceptual model for change management factors affecting the business performance creation of a startup company, based on the Small and medium Business Corporation's young venture startup fund. Research design, data, and methodology - Many studies examine the current progress and issues of startup firms, for example, a lack of systematic cultivation of entrepreneurship and startup business training, lack of commercialization funding for youth startup businesses, lack of mentoring, and inadequate infrastructure. From prior research, we address four factors, namely, personal managerial capabilities, innovative business model, sufficient cash flow, and social network, affecting startup companies' business performance. This study involved a sample survey of 200 young entrepreneurs to investigate casual relations between the four factors and business performance. A regression analysis was used to verify the hypotheses. Results - First, in relation to differences in the founder's personal characteristics, age, sales amount, and number of employees significantly impact business performance. Second, regarding the causal relation between the four factors for creating business performance, an innovative business model and social networking have supported the hypotheses, revealing that the more that a start-up founder has an innovative business model and social networking, the more the start-up firms are likely to have better performance (e.g., sales volume, employment, ROE, ROI, etc.). Although the founder's competency and sufficient cash flow have no significant relationship with business performance, the mean value was higher performance for high founder's competency and sufficient cash flow. Conclusions - This study provides basic data on policy support strategies of the Small and Medium Business Corporation, to help young entrepreneurs achieve their start-up business goals. It shows that young entrepreneurship startup firms should strive to explore ideas to satisfy customers' needs, and that changes in customer value and the continuous innovation of business model differentiation are required to actively respond to change management. Moreover, at the infant startup stage, they should activate social network programs to share information, thereby offsetting resource scarcity and managing business risk. Further, the establishment of a long-term vision and the implementation of training programs in related specific fields should be supported to strengthen founders' personal capabilities.