• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.6
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• pp.71-86
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• 2023

Although starting a business plays a key role in strengthening national competitiveness and creating jobs, it is recognized as a risky choice. Failure to start a business can result in a wide range of negative effects, such as loss of personal wealth as well as deterioration of national competitiveness. This study considers startups that have reached a level of sustainable growth by achieving performance above the minimum profitability and sales standards for KOSDAQ listing, or achieved EXIT through sale or listing, as successful startups. based on the practical experiences of 23 successful entrepreneurs and Based on perception, the importance and priorities of startup success factors were derived through stratification analysis (Analytic Hierarchy Process, AHP), and interviews were conducted. In particular, using the ERIS model, we comprehensively analyze various variables of a start-up by considering the four elements of the entrepreneur, resources, industry, and strategy, and examine the changes and importance of success factors according to the characteristics of each growth stage of the start-up. As a goal, we specifically identified the challenges and opportunities faced by entrepreneurs at each stage. As a result of the study, the order of importance of the top factors of success factors in the start-up period was found to be the entrepreneur, resources, industry, and strategy. In particular, the importance of the entrepreneur's entrepreneurship spirit, special capabilities, general capabilities, and human resources was emphasized. The order of importance of the top factors of success factors during the growth period was found in the following order: entrepreneur, resources, industry, and strategy. In particular, the importance of general capabilities, entrepreneurship, and human and organizational resources was emphasized. This study is significant in that it analyzes startup success factors from the perspective of successful entrepreneurs and provides useful insights and directions to entrepreneurs and policy makers.

• The Korean Journal of Air & Space Law and Policy
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• v.27 no.2
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• pp.29-65
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• 2012

Der neue strukturelle Ansatz der Kommbination eines Rahmen$\ddot{u}$bereinkommens und eines ausr$\ddot{u}$stungsspezifischen Sonderprotokolls bedingt einen neuen organisatorischen Anstz f$\ddot{u}$r die Zusammenarbeit zwischen internationalen Organisationen bei der Schaffung von internationalem Einheitsprivatrecht. So haben hier zwei internationale Organisationen gemeinsam die Verantwortung f$\ddot{u}$r einmultilaterales $\ddot{U}$bereinkommen $\ddot{u}$bernommen: auf der einen Seite UNIDROIT als die internationale Organisation, die generell f$\ddot{u}$r die Vereinheitlichung des Privatrechts kompetent ist; auf der anderen Seite ICAO als die f$\ddot{u}$r die private Luftfahrt zust$\ddot{a}$ndige internationale Organisation. Dieses neue, f$\ddot{u}$r die Luftfahrzeugausr$\ddot{u}$stung praktizierte organisatorische Modell eines joint venture zweier internationaler Organisation bei der Einheitsrechtsetzung, namlich die Betreuung eines allgemeinen privatrechtsvereinheitlichenden Rahmens$\ddot{u}$bereinkommens durch UNIDROIT und die Wahrnehmung der sektorspezifischen Belange in einem ausr$\ddot{u}$stungsspesifischen Sonderprotokoll durch die jeweils zust$\ddot{a}$ndige internationale Spezialorganisation, hat bereits f$\ddot{u}$r die Sektoren der Eisenbahn- und Weltraumausrustung Schule gemacht. Das in Kapstadt beschlossene v$\ddot{o}$lkervertragliche Regelungswerk hat erstmals ein einheitsrechtliches - grunds$\ddot{a}$atzlich weltweite Geltung anstrebendes - Sicherungsrecht geschafen. Dies kann f$\ddot{u}$r die Sachenrechtsintergration einen $\ddot{a}$hnlichen Durchbruch bedeuten, wis das Wiener UN-kaufrechts$\ddot{u}$bereinkommen von 1980 f$\ddot{u}$r das Schuldvertragsrecht. Voraussetzung daf$\ddot{u}$r ist allerdings die juristische Qualit$\ddot{a}$t und Praxisgerechtigkeit des Regelungswerkes und - insbesondere - das Funktionieren des Registersystems. Von wesentlicher Bedeutung f$\ddot{u}$r den Erfolg des $\ddot{U}$bereinkkommens wird auchsein, ob es Rechtssicherheit zu gew$\ddot{a}$hrleisten vermag.

• The Journal of the Korea Contents Association
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• v.9 no.11
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• pp.151-162
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• 2009

The objective of this study is to uncover the standard and procedure of the review for the online game to export to China and try to find a plan how to solve a problem such as regulation for the online game imported into China depending on a protective policy for homemade game. The literatures related to the policy of China online game industry and the present condition of the wholistic restriction are reviewed and the standard and procedure of the review of China online game which is veiled was able to find definitely by using the case study on Korean company which was a great success as localization in China. As a result of this study, we found that the key factor on the review standard of China online game is the anti-social personality, such as 'the overthrow of Chinese socialist system', 'the territorial issue as the eviction of Hong Kong or the acknowledgment of Taiwan government', 'independence problem of the minorities', and 'damage to property as national treasure', et cetera. While the review of the homemade game in China takes about a month through just two steps in review process on online game, that of foreign game is required over at least three months through four steps in it. Moreover, it is difficult for foreign games to obtain the license due to total amount regulation for online game by 'General Administration of Press and Publication of the People's the Republic of China'. In the case of the joint-venture company, it is most important to the smooth communication between Korean company and Chinese company in order to overcome these strong regulation for online game review in China. Furthermore, as Chinese company in outward appearance it is need to be positioned absolutely in Chinese marketplace. The definite positioning strategy enables foreign companies to avoid the strong regulation about the foreign game in China. To understand, finally, deeply politics, society, and culture presented in Chinese ethics textbook permits the foreign companies to predict the exact standard of the review for online game. Therefore, this study is concluded with key implications to sustain guidelines on the deliberation for foreign companies which want to export online game to China to improve the predictability and accountableness about the review of the online game in China.

• The Korean Journal of Air & Space Law and Policy
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• v.1
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• pp.223-243
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• 1989

The practical application of modern space science and technology have resulted in many actual and potential gains of mankind. These successes have conditioned and increased the need for a viable space law regime and the challenge of space has ultimately led to the formation of an international legal regime for space. Space law is no longer a primitive law. It is a modern law. Yet, in its stages of growth, it has not reached the condition of perfection. Therefore, under the existing state of thing, we could carefully say that the space law is one of the most newest fields of jurisprudence despite the fact that no one has so far defined it perfectly. However, if space law can be a true jurisprudential entity, it must be definable. In defining the space law, first of all, the grasp of it's nature iis inevitable. Although space law encompasses many tenets and facets of other legal discriplines, its principal nature is public international law, because space law affects and effects law relating intercourse among nations. Since early 1960s when mankind was first able to flight and stay in outer space, the necessity to control and administrate the space activities of human beings has growingly increased. The leading law-formulating agency to this purpose is the United Nation's ad hoc Committee on Peaceful Uses of Outer Space("COPUOS"). COPUOS gave direction to public international space law by establishing the 1963 Declaration of Legal Principles Governing the Activities of the States in the Exploration and Use of Outer Space("1963 Declaration"). The 1963 Declaration is very foundation of the five international multilateral treaties that were established successively after the 1963 Declaration. The five treaties are as follows: 1) The Treaty on Principles Governing the Activities of States in the Exploration and Use of Outer Space including Moon and other Celestial Bodies, 1967. 2) The Agreement on the Rescue of Astronauts, the Return of Astronauts, and the Return of Objects Launched into Outer Space, 1968. 3) The Convention on International Liability for Damage Caused by Space Objects, 1972. 4) The Convention on Registration of Objects Launched into Outer Space, 1974. 5) The Agreement Governing Activities of States on the Moon and Other Celestial Bodies: Moon Treaty, 1979. The other face of space law is it's commercial aspect. Space is no longer the sole domination of governments. Many private enterprise have already moved directly or indirectly into space activities in the parts such as telecommunications and space manufacturing. Since space law as the public international law has already advanced in accordance with the developments of space science and technology, there left only a few areas untouched in this field of law. Therefore the possibility of rapid growth of space law is expected in the parts of commerical space law, as it is, at this time, in a nascent state. The resources of the space environment are also commercially both valuable and important since the resources include the tangible natural resources to be found on the moon and other celestial bodies. Other space-based resources are solar energy, geostationary and geosynchronous orbital positions, radio frequencies, area possibly suited to human habitations, all areas and materials lending themselves to scientific research and inquiry. Remote sensing, space manufacturing and space transportation services are also another potential areas in which commercial. endeavors of Mankind can be carried out. In this regard, space insurance is also one of the most important devices allowing mankind to proceed with commercial space venture. Thus, knowlege of how space insurance came into existence and what it covers is necessary to understand the legal issues peculiar to space law. As a conclusion the writer emphasized the international cooperation of all nations in space activities of mankind, because space commerce, by its nature, will give rise many legal issues of international scope and concern. Important national and world-community interests would be served over time through the acceptance of new international agreements relating to remote sencing, direct television broadcasting, the use of nuclear power sources in space, the regularization of the activities of space transportation systems. standards respecting contamination and pollution, and a practical boundary between outer space and air space. If space activity regulation does not move beyond the national level, the peaceful exploration of space for all mankind will not be realized. For the efficient regulation on private and governmental space activities, the creation of an international space agency, similar to the International Civil Aviation Organization but modified to meet the needs of space technology, will be required. But prior to creation of an international organization, it will be necessary to establish, at national level, the Office of Air and Space Bureau, which will administrate liscence liscence application process, safety review and sale of launch equipment, and will carry out launch service.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.151-168
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• 2022

Nowadays companies are required to achieve social goals beyond maximizing shareholder profits. Accordingly, it is important to pursue both the economic and social goals of a company at the same time. Thus the importance of hybrid organizations is increasing theoretically and practically. In particular, since hybrid organizations essentially have the complexity of pursuing both economic and social purposes, the institutional demands of various stakeholders surrounding hybrid organizations are also conflicting. Several previous studies have considered how hybrid organizations respond to these conflicting institutional demands, but most studies are limited to studying at a specific point in time. As a result, there was a limit to analyzing the dynamics in response to conflicting institutional demands as the hybrid organization expanded its business. This study predicted that the hybrid organization would take selective coupling with conflicting institutional demands and that the process of responding to institutional demands would change according to the organization's growth. In this study, we had a case study about Noul and Enuma, social ventures that operate relatively advanced business models with outstanding results in innovation and technology. As a result, social ventures show a selective coupling for conflicting institutional demands, and the selective coupling process changes as their business model are advanced. Specifically, in the early stages of the business, it appears to respond to economic and social demands at the same time with a single business model. When the business is advanced, two or more business models are operated, some of which respond to economic needs and some of which respond to social needs. In the early stages of business, social ventures respond to economic and social demands with a single business model to gain legitimacy and survive in the institutional demands. But when they enter the business growth period, they try to separate business models which respond to economic and social values because they pursue sustainable growth and challenge large-scale missions. Overall, this study attempted to contribute to an in-depth understanding of hybrid organizations by identifying that the method of responding to conflicting institutional demands varies depending on the growth process of social ventures.

• Journal of Venture Innovation
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• v.5 no.1
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• pp.107-127
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• 2022

Global challenges such as the corona pandemic, climate change and the war-on-tech ensure that the demand who the technologies of the future develops and monitors prominently for will be on the agenda. Development of, and applications in, agrifood, biotech, high-tech, medtech, quantum, AI and photonics are the basis of the future earning capacity of the Netherlands and contribute to solving societal challenges, close to home and worldwide. To be like the Netherlands and Europe a strategic position in the to obtain knowledge and innovation chain, and with it our autonomy in relation to from China and the United States insurance, clear choices are needed. Brainport Eindhoven: Building on Philips' knowledge base, there is create an innovative ecosystem where more than 7,000 companies in the High-tech Systems & Materials (HTSM) collaborate on new technologies, future earning potential and international value chains. Nearly 20,000 private R&D employees work in 5 regional high-end campuses and for companies such as ASML, NXP, DAF, Prodrive Technologies, Lightyear and many others. Brainport Eindhoven has a internationally leading position in the field of system engineering, semicon, micro and nanoelectronics, AI, integrated photonics and additive manufacturing. What is being developed in Brainport leads to the growth of the manufacturing industry far beyond the region thanks to chain cooperation between large companies and SMEs. South-Holland: The South Holland ecosystem includes companies as KPN, Shell, DSM and Janssen Pharmaceutical, large and innovative SMEs and leading educational and knowledge institutions that have more than Invest €3.3 billion in R&D. Bearing Cores are formed by the top campuses of Leiden and Delft, good for more than 40,000 innovative jobs, the port-industrial complex (logistics & energy), the manufacturing industry cluster on maritime and aerospace and the horticultural cluster in the Westland. South Holland trains thematically key technologies such as biotech, quantum technology and AI. Twente: The green, technological top region of Twente has a long tradition of collaboration in triple helix bandage. Technological innovations from Twente offer worldwide solutions for the large social issues. Work is in progress to key technologies such as AI, photonics, robotics and nanotechnology. New technology is applied in sectors such as medtech, the manufacturing industry, agriculture and circular value chains, such as textiles and construction. Being for Twente start-ups and SMEs of great importance to the jobs of tomorrow. Connect these companies technology from Twente with knowledge regions and OEMs, at home and abroad. Wageningen in FoodValley: Wageningen Campus is a global agri-food magnet for startups and corporates by the national accelerator StartLife and student incubator StartHub. FoodvalleyNL also connects with an ambitious 2030 programme, the versatile ecosystem regional, national and international - including through the WEF European food innovation hub. The campus offers guests and the 3,000 private R&D put in an interesting programming science, innovation and social dialogue around the challenges in agro production, food processing, biobased/circular, climate and biodiversity. The Netherlands succeeded in industrializing in logistics countries, but it is striving for sustainable growth by creating an innovative ecosystem through a regional industry-academic research model. In particular, the Brainport Cluster, centered on the high-tech industry, pursues regional innovation and is opening a new horizon for existing industry-academic models. Brainport is a state-of-the-art forward base that leads the innovation ecosystem of Dutch manufacturing. The history of ports in the Netherlands is transforming from a logistics-oriented port symbolized by Rotterdam into a "port of digital knowledge" centered on Brainport. On the basis of this, it can be seen that the industry-academic cluster model linking the central government's vision to create an innovative ecosystem and the specialized industry in the region serves as the biggest stepping stone. The Netherlands' innovation policy is expected to be more faithful to its role as Europe's "digital gateway" through regional development centered on the innovation cluster ecosystem and investment in job creation and new industries.

• Korean Business Review
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• v.17
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• pp.153-183
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• 2004

The Gaisong Merchants can be regarded to playa pioneering role to activate the Korea's trade with foreign countries. In the early period of Yi-Dynasty, the Gaisong Merchants focused on personal trade, but in the middle period of Yi-Dynasty, they entered to the realm of governmental trade. Furthermore, their business activities widened to various forms of trades, for example, smuggling. Utilizing accumulated capital, Gaisong merchants expanded their trading activities to their neighboring countries such as Japan and China. In recent times, it is necessary for modem Korean companies to diversify risks through the establishment of corporations for production, marketing and R&D abroad or through joint venture, M&A and strategic alliance with foreign companies in order to reduce the risks originated from volatile economic and political situations. In this study, we utilize tools of comparative study to compare Gaisong Merchants' foreign trade strategies with those of modem companies such as AMOREPACIFIC, HANILCEMENT and SHINDORICO. The purpose of the paper is to test the hypothesis that modem Korean companies grew up by following the cases of Gaisong Merchants' business activities. We summarize our main findings as follows. First, both Gaisong Merchants and modem Korean companies have common functional core capability in the field of marketing, manufacturing technology, R&D, and human resources development. Second, both Gaisong Merchants and modem Korean companies have common organizational core capability. Third, both Gaisong Merchants and modem Korean companies have common infrastructures such as planning, finance, accounting and MIS. It constitutes the infrastructure of Korea's foreign trade sector. Fourth, both Gaisong Merchants and modem companies have common organizational culture in the field of management policy and philosophy. Actually, those factors are evaluated to be driving forces of Koera's success in foreign trade. In conclusion, the business activities of Gaisong Merchants who represented the peculiarity of Korean business spirit are partially inherited to current Korean business management. The value system and behavior pattern of modern Korean companies is succeeded from the spirit of Gaisong Merchants and it playa major role to specify the identity of Korean business administration.

• 한국벤처창업학회:학술대회논문집
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• 2006.04a
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• pp.167-201
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• 2006

Korean corporations are transforming their vertical operational structure to a team-based structure to compete in the rapidly changing environment and for improved performance. However, a high percentage of the respondents in KBS said that despite the appearance of the present team structure, the organization operates much like a vertically-structured organization. This result can be attributed to the lack of study and implementation toward the goal of empowerment, the key variable for the success of the team-based structure. This study aims to provide policy suggestions on how to implement the process of empowerment, by investigating the conditions that hinder the process and the attitude of the KBS employees. For the cross-sectional study, this thesis examined the domestic and international references, conducted a survey of KBS employees, personal interviews and made direct observations. Approximately 1,200 copies of the Questionnaire were distributed and 474 were completed and returned. The analysis used SPSS 12.0 software to process the data collected from 460 respondents. For the longitudinal-study, six categories that were common to this study and "The Report of the Findings of KBS Employees' View of the Team Structure" were selected. The comparative study analyzed the changes in a ten-month period. The survey findings showed a decrease of 24.2%p in the number of responses expressing negative views of the team structure and a decrease of 1.29%p in the number of positive responses. The findings indicated a positive transformation illustrating employees' improved understanding and approval of the team structure. However, KBS must address the issue on an ongoing basis. It has been proven that the employee empowerment increases the productivity of the individual and the group. In order to boost the level of empowerment, the management must exercise new, innovative leadership and build trust between the managers and the employees first. Additional workload as a result of shirking at work places was prevalent throughout all divisions and ranks, according to the survey data. This outcome leads to the conclusion that the workload is not evenly distributed or shared. And the data also showed the employees do not trust the assessment and rewards system. More attention and consideration must be paid to the team size and job allocation in order to address this matter; the present assessment and rewards system need to be complemented. The type of leadership varies depending on the characteristics of the organization's structure and employees' disposition. KBS must develop and reform its own management, leadership style to suit the characteristics of individual teams. Finally, for a soft-landing of KBS team structure, in-house training and education are necessary.

• Journal of Korea Technology Innovation Society
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• v.20 no.1
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• pp.1-33
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• 2017

In the last decades, technology-oriented small firms, i.e. venture businesses, have been increasingly engaged in R&D collaborations with external parties as strategic means for technological innovation. Despite ample evidence on the benefit of such collaborations for the firms, there has been less attention to examining whether and how the firms' social interactions with cooperating partners and their managerial characteristics contribute to that benefit. Drawing on the theories of social capital and entrepreneurial orientation, this study is to remedy this gap. The theory of social capital, referring to a sum of the value and potential resources embedded in social relationships of collectives, provides an integrated view of social factors among cooperating partners, e.g. strong ties, network stability, trust, reciprocity, shared vision and value. It categorizes these factors into structural, relational, and cognitive dimensions of social capital. Entrepreneurial orientation theory captures firms' managerial characteristics as a combination of innovativeness, proactiveness, and risk-taking. This addresses firms' managerial process to utilize and combine internal and external resources for wealth creation and opportunity realization. Against this background, this study investigates what roles social capital among cooperating R&D partners and entrepreneurial orientation of the collaborating firms play for collective performance improvement in R&D collaborations. In terms of the collective performance, this study adopts two indicators: technological competitiveness and business performance. Technological competitiveness refers to the contribution of a technology developed by a cooperative R&D project to competitive advantage of a firm while business performance is defined as the financial and economic outcome of a collaboration. Using a sample of 218 Korean ventures engaging in R&D collaboration with external parties, the author finds the significant effects of social capital (i.e. structural, relational, and cognitive dimensions) and entrepreneurial orientation (i.e. innovativeness, proactiveness, and risk-taking) on both of the technological competitiveness and the business performance. Further, the higher the social capital among R&D partners, the more likely it is to foster the entrepreneurial orientation at firm-level. Most importantly, the entrepreneurial orientation at firm-level is an significant mediator of the relationship between social capital and collective performance. Beyond these novel empirical findings, this study contributes to the literature on R&D collaboration. The findings' implications for management and policy are deeply discussed in the conclusion.

• The Journal of Small Business Innovation
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• v.19 no.4
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• pp.1-17
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• 2016

The purpose of this study is to suggest an efficient way for ventures to achieve innovation performance through R&D cooperative arrangements. Achieving innovation is one of the critical factors for the survival of ventures. Unlike established firms, ventures often do not have the specialized assets necessary to take technological developments to the product and market stages. Young and resource-constrained firms can achieve innovation by finding and accessing to the complementary resources from R&D cooperation. In the current business environment, many firms are likely to engage in multiple simultaneous R&D cooperations with different partners. Recent research stream addresses the importance of efficient cooperation management from the holistic portfolio perspective. Since maintaining the multiple cooperative relations require substantial amount of time and effort, managing cooperative relationships play a more important role to resource-constrained firms. In order to find an efficient composition of R&D cooperative partners, we mainly focus on the diversity of partner type and dependence level in partnership. We analyze the data on Korean manufacturing ventures collected in the Korean Innovation Survey (KIS) which was conducted by the Science and Technology Policy Institute (STEPI). The KIS questionnaire assesses the existence of cooperative relationships with different types of partners respectively. The types of cooperating partners are affiliated companies, suppliers, clients & customers, competitors or other firms in the same industry, consulting firms, universities, and research institutes. We confirm that ventures obtain relatively higher benefits from R&D cooperation compared with established firms in terms of innovation performance. The results show that a moderate level of diversity in cooperative partner type composition increases innovation. Moreover, diversity of cooperation dependency among the partners enhances innovation performance. Likewise, concentrating on the quality aspects of cooperative composition, such as diversity of partners and degree of dependencies, this study offers some implications for ventures in managing partners from an integrative perspective.