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Study on the Factors Influencing the Investment Performance of Domestic Venture Capital Funds (국내 벤처펀드의 투자성과에 영향을 미치는 요인에 관한 연구)

  • InMo Yeo;HyeonJu Park;KwangYong Gim
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.18 no.5
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    • pp.63-75
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    • 2023
  • This study conducted empirical analysis on the factors affecting the investment performance of 205 domestic venture funds (with a total liquidation amount of 7.25 trillion KRW) newly formed from 2007 to 2017 and completely liquidated as of the end of 2022. Due to the nature of private equity funds, obtaining empirical data is extremely challenging, especially for data post-COVID-19 era liquidations. Nevertheless, despite these challenges, it is meaningful to analyze the impact on the investment returns of domestic venture funds using the most recent data available from the past 10 years. This study categorized the factors influencing venture fund performance into external environmental factors and internal factors. External environmental factors included "economic cycles," "stock markets," "venture markets," and "exit markets," while internal factors included the fund management company's capabilities in terms of "experience," "professional personnel," and "assets under management (AUM)." The fund structure was also categorized into "fund size" and "fund length" for comparative analysis. In summary, the analysis yielded the following results: First, the 3-year government bond yield, which represents economic cycles well, was found to have a significant impact on fund performance. Second, the average 3-month KOSDAQ index return after fund formation had a statistically significant positive effect on fund performance. Third, the number of IPOs, indicating the competition intensity at the time of venture fund liquidation, was shown to have a negative effect on fund performance. Fourth, it was observed that the larger the AUM of the fund management company, the better the fund's returns. Finally, venture fund returns showed variations depending on the year of formation (Vintage). Therefore, when individuals consider investing in venture funds, it is considered a highly effective investment strategy to construct an investment portfolio taking into account not only external environmental factors and internal fund factors but also the vintage year.

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Epidemiological Characteristic and Risk Factor of COVID-19 Cluster Related to Educational Facilities in Gangwon-do, Korea (December 10, 2020-September 23, 2021) (강원도내 교육시설관련 코로나바이러스감염증19 집단발생의 역학적특성과 위험요인 (2020.12.10-2021.9.23))

  • Hyosug Choi;Mi Young Kim;Shinyoung Lee;Eunmi Kim;Yeo Jin Kim
    • Pediatric Infection and Vaccine
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    • v.31 no.1
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    • pp.102-112
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    • 2024
  • Purpose: To identify the epidemiological characteristics and risk factors of coronavirus disease 19 (COVID-19) outbreaks depending on the type of educational facility by analyzing the COVID-19 cluster associated with educational facilities. Methods: This study is based on epidemiological investigation of COVID-19 cluster in Gangwon-do, Korea from December 10, 2020 to September 23, 2021 reported to the Korea Disease Control and Prevention Agency's Integrated Disease and Health Management System. Four hundred seven patients in 19 facilities, classified as cluster related to educational facilities, were the study population. The result of preliminary epidemiology survey report, in-depth epidemiological survey by phone and the result of risk assessment derived from the field epidemiology investigation were retrospectively analyzed to evaluate infectivity and the characteristics of the risk factors. Results: There were total of 407 confirmed patients related to 19 educational facilities, with 204 students under the age of 19 (50.1%). One hundred fifty-five preceding spreaders were from families (38.1%) and 125 were the teachers (30.7%). The place exposed to confirmed patients was the highest with 139 people (34.2%) at home. Conclusions: It was confirmed that the cause of the occurrence of clusters related to educational facilities was higher due to family transmission than the risk of facilities in schools. Nevertheless, continuous efforts should be made to control infection in educational facilities, and that teachers' implementation of principles for prevention of COVID-19 personal hygiene in their daily lives should be strengthened.

A Perspective of Analytical Psychology on 'Yeondo', a Prayer for Souls in Purgatory of Korean Catholic Church (한국 천주교 '연도(煉禱)'의 분석심리학적 고찰)

  • Chun Ja Yeo
    • Sim-seong Yeon-gu
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    • v.31 no.1
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    • pp.1-40
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    • 2016
  • This thesis is a study on the symbolism of 'Yeondo', a prayer for the souls in purgatory of Korean Catholic Church as a 'psychic container' for the spiritual transformation in the psyche from a perspective of analytical psychology. Yeondo' could be the 'rites of passage' of the last judgement for the souls in purgatory which is in between the heaven and the hell. And both the bereaved and the dead go through the stages of separation, transition and incorporation which are the schema of the 'rites of passage'. In particular, they have a special sense of solidarity at the stage of transition, a middle state. The symbolic process of 'Yeondo' is a spiritual transformation of recovery of paradise which could access by the confusion of death, purification and the rebirth. A spiritual reborn process of death and rebirth takes place by contacting the collective unconscious. In 'Yeondo', the death is not the end of life but the beginning of the eternal life. The confusion and disintegration caused by death can be purified and start incorporating. The rites of a paradise recovery has the meaning of trying constantly for the recovery of a wholeness. Praying for the blessing of God and a help from saints in paradise for the sake of the dead means to require conscious cooperation for the Self-realization. Integrating and recognizing unconscious also means something beyond the conscious. The blessed souls in purgatory recovers the paradise experiencing specific purifying process heading towards Self. Going into the center, abyss of unconscious will be recognized as an absolute part of oneself. One becomes the inner man, the transformed personality who is reached by the path of self-knowledge, the kingdom of heaven within oneself and can have the transpersonal energy, which enables to access to God's world and union with God. All desire and the will become one with God. In the final analysis, praying for the blessing of God and a help from saints in paradise for the sake of the dead becomes the path for the more and more conscious expansion of the alive. Therefore, 'Yeondo' as an initiation is the individuation process of the alive and the dead to reflect on themselves.

The ecological response of the climate change indicator species, Korean fir (Abies koreana E. H. Wilson) (기후변화 지표종 구상나무(Abies koreana E. H. Wilson)의 생태학적 반응)

  • Yoon Seo Kim;Se Hee Kim;Jung Min Lee;Ji Won Park;Yeo Bin Park;Jae Hoon Park;Eui Joo Kim;Kyeong Mi Cho;Yoon Kyung Choi;Ji Hyun Seo;Joo Hyun Seo;Gyu Ri Kim;Ju Seon Lee;Do Hun Ryu;Min Sun Kim;Young Han You
    • Journal of Wetlands Research
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    • v.26 no.1
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    • pp.62-71
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    • 2024
  • To assess the ecological changes of Korean fir (Abies koreana E. H. Wilson) under climate change conditions, growth and physiological responses were analyzed over a 5-year period in a control group (outdoors) and in a treatment group where the temperature and CO2 levels were elevated to closely resemble RCP 4.5 conditions. The results showed an increasing trend in annual branch length of A.koreana in the climate change treatment group over time. While climate change conditions did not significantly impact the morphological differences of A.koreana leaves, they did influence the biomass of the leaves, suggesting that as climate change progresses, the productivity of A.koreana leaves may decline. On the other hand, the chlorophyll content in A.koreana under climate change conditions was higher in the climate change treatment group, whereas the photosynthesis rate, transpiration rate, water use efficiency and stomatal conductance was higher in the control group. This suggests that an environment with elevated temperature and CO2 could influence an increase in stomatal density, but having a negative impact on photosynthetic reactions. Further research on stomatal density under each environmental treatment will be required to confirm this hypothesis. Additionally, as this study only observed changes in leaf biomass, further empirical research should be considered to understand the changes in biomass of A.koreana under climate change conditions. In conclusion, the environmental adaptability of A.koreana is expected to weaken in the long term under elevated temperatures and CO2.

Effects of silage storage period of grass clippings on methane production by anaerobic digestion (잔디 예지물의 혐기소화에서 사일리지 저장기간이 메탄 생산에 미치는 영향)

  • Jin Yeo;Tae-Hee Kim;Chang-Gyu Kim;Seo-Yeong Lee;Young-Man Yoon
    • Journal of the Korea Organic Resources Recycling Association
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    • v.31 no.4
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    • pp.13-28
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    • 2023
  • This study assessed the biochemical methane potential (Bu-P) of three grass species-Poa pratensis (PP), Zoysia japonica (ZJ), and Agrostis stolonifera (AS). Bu-P values were determined as 0.330 Nm3/kg-VSadded for PP, 0.297 Nm3/kg-VSadded for ZJ, and 0.261 Nm3/kg-VSadded for AS. Notably, PP exhibited superior suitability for methane production. The investigation also examined the impact of silage storage duration on PP grass clippings, revealing a 19% decline in Bu-P from an initial value of 0.269 Nm3/kg-VSadded on day 0 to 0.217 Nm3/kg-VSadded on day 180. Throughout the storage period, there were significant increases in neutral detergent fiber (NDF), acid detergent fiber (ADF), and crude protein (CP) contents, rising from 67.59%, 39.68%, and 3.02% on day 0 to 77.12%, 54.65%, and 6.24% on day 180, respectively. These findings highlight the influence of storage duration on the anaerobic digestibility of PP grass clippings. To effectively utilize grass clippings as a renewable resource for methane production, further studies considering factors such as initial moisture content, pretreatment methods, and potential effects of residual pesticides are necessary to optimize anaerobic digestion efficiency for herbaceous biomass.

Investigation of Microbial Contamination in the Raw Materials of Meal Kits (간편조리세트 원재료의 미생물 오염도 조사)

  • Hyun-Kyung Lee;Young-Sook Do;Min-Jung Park;Kyoung Suk Lim;Seo-In Oh;Jeong-Hwa Lim;Hyun-Soo Kim;Hyun-Kyung Ham;Yeo-Jung Kim;Myung-Jin Lee;Yong-Bae Park
    • Journal of Food Hygiene and Safety
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    • v.39 no.2
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    • pp.109-117
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    • 2024
  • This study investigated the microbial contamination of agricultural, livestock, and marine ingredients in 55 meal kits distributed across Gyeonggi-do, South Korea. Of the 55 meal kits, 48 contained agricultural ingredients, 43 contained livestock ingredients, and 16 contained marine ingredients. The detection rate of the total aerobic bacteria in the agricultural, livestock, and marine products was 100%. The average numbers of the total aerobic bacteria were 6.57 log colony-forming units (CFU)/g in the agricultural products, 4.60 log CFU/g in the livestock products, and 5.47 log CFU/g in the marine products. The coliform detection rates in the agricultural, livestock, and marine products were 81.25%, 69.77%, and 43.75%, respectively. The average numbers of coliforms were 2.83 log CFU/g in the agricultural products, 1.34 log CFU/g in the livestock products, and 1.12 log CFU/g in the marine products. Escherichia coli was detected in 13 livestock products (30.23%), with levels ranging from 0.70 to 2.36 log CFU/g. Contrastingly, E. coli was detected in only one marine product (6.25%) and was not detected in any agricultural products. The detection rates of fungi in agricultural, livestock, and marine products were 97.92%, 93.02%, and 93.75%, respectively. The average numbers of fungi were 3.82 log CFU/g for the agricultural products, 2.92 log CFU/g for the livestock products, and 2.82 log CFU/g for the marine products. The isolation rates of foodborne pathogens from the agricultural, livestock, and marine products were 35.42%, 37.21%, and 31.25%, respectively. Forty-five foodborne pathogens of seven species, including Bacillus cereus and Salmonella spp., were isolated from the raw materials of the agricultural, livestock, and marine products in 55 meal kits. To prevent foodborne diseases caused by meal kits, it is necessary to focus on washing, heating, and preventing cross-contamination during cooking.

Effectiveness of controlled atmosphere container on the freshness of exported PMRsupia melon (CA 컨테이너를 이용한 수출 멜론의 선도유지 효과)

  • Haejo Yang;Min-Sun Chang;Puehee Park;Hyang Lan Eum;Jae-Han Cho;Ji Weon Choi;Sooyeon Lim;Yeo Eun Yun;Han Ryul Choi;Me-Hea Park;Yoonpyo Hong;Ji Hyun Lee
    • Food Science and Preservation
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    • v.30 no.5
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    • pp.822-832
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    • 2023
  • This study investigates the effectiveness of CA (controlled atmosphere) containers in maintaining the freshness of exported melons. The melons were harvested on June 5, 2023, in the Yeongam area of Jeollanam-do, Korea. The CA container was loaded with melon samples packed in an export box. The temperature inside the container was set at 4℃, while the gas composition was set at 5% oxygen, 12% carbon dioxide, and 83% nintrogen. Following two weeks of simulated transportation, quality analysis was conducted at 10℃. The melons were inoculated with spore suspensions, and the decay rate was determined to investigate the effect of the gas composition inside the CA container on suppressing the occurrence of Penicillium oxalicum in melons. The results were compared with a Reefer container set at the same temperature. The samples transported in the CA container exhibited lower weight loss. The melon pulp softening, respiration rate, and ethylene production were slower using the CA container. Moreover, the decay rate during the distribution period in the CA container was lower than in the Reefer container. In contrast, the firmness of melons transported in the Reefer container decreased significantly (from 9.03N to 5.18N) immediately after transportation. The soluble solid content (SSC) of melons transported in the Reefer container also decreased rapidly. The results suggested that the CA container is the optimal export container for maintaining the freshness of melons.

Changes in quality characteristics of makjang depending on fermentation location and complex starters (발효 장소와 복합 종균에 따른 막장의 품질 특성 변화)

  • Jieon Park;Myeong-Hui Han;Woosoo Jeong;Soo-Hwan Yeo;So-Young Kim
    • Food Science and Preservation
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    • v.30 no.6
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    • pp.1056-1071
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    • 2023
  • This study aimed to investigate the quality and microbial population changes for 90 days under two fermentation conditions, outdoors and indoors (35℃), with starters (single or mixed) in soybean paste. Bacillus velezensis NY12-2 (S1), Debaryomyces hansenii D5-P5 (S2), Enterococcus faecium N78-11 (S3), and their mixtures (M) were used for the makjang fermentation. The content of amino-type nitrogen among the makjang samples was highly shown in the indoors, followed by M, S3, and S2. The glutamic and aspartic acid contents in the M sample fermented in the indoors showed the highest values of 867.42±77.27 and 243.20±15.79 mg/g, respectively. By the electronic tongue analysis, the M sample fermented in the indoors exhibited lower saltiness and higher umami than the others. Consequently, we expect that using mixed strains, such as Bacillus, Debaryomyces, and Enterococcus, under constant conditions showed potential to the quality improvement of soy products.

Characteristics of Leuconostoc spp. isolated from radish kimchi and its immune enhancement effect (무김치에서 분리한 Leuconostoc 속의 특성과 면역증강 효과)

  • Seoyeon Kwak;Seongeui Yoo;Jieon Park;Woosoo Jeong;Hee-Min Gwon;Soo-Hwan Yeo;So-Young Kim
    • Food Science and Preservation
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    • v.30 no.6
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    • pp.1082-1094
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    • 2023
  • The purpose of this study was to examine the characteristics of Leuconostoc spp. isolated from radish kimchi and to investigate the potential for the use of functional ingredients by evaluating enzymatic characteristics, safety, and immune-enhancing effects among the isolates, including Lactobacillus rhamnosus ATCC53103 (LGG) as a control strain. All test strains exhibited β-glucosidase enzyme activity that releases β-1,4 sugar chain bonds. In addition, as a result of antibiotic resistance assay among the isolates, MIC values on 8 antibiotics were below compared to the EFSA standard, and hemolytic experiments confirmed that all showed gamma hemolysis without hemolytic ability. As a result of the antibacterial activity experiment, the Leu. mesenteroides K2-4 strain showed a higher activity than LGG against Bacillus cereus and Staphylococcus aureus. Additionally, the activity of the NF-kB/AP-1 transcription factor increased when the isolates were treated in macrophage RAW cells. These results were related to increasing the high mRNA expression levels on TNF-α and IL-6 by Leu. mesenteroides K2-4 strain to be treated at low concentration. Consequently, we suggest that it will be useful as a candidate for functional food ingredients.

The Effect of COVID-19 on Pediatric Intussusception: A Retrospective Study of a Single Center in South Korea with 10-Year Experience (코로나바이러스감염증-2019 유행 후 소아 장중첩증의 변화: 단일기관 10년 의무 기록을 이용한 연구)

  • Yeo Jin Yoo;Bo-Kyung Je;Ga Young Choi;Jee Hyun Lee;Sunkyu Choi;Ji Young Lee
    • Journal of the Korean Society of Radiology
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    • v.83 no.2
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    • pp.304-316
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    • 2022
  • Purpose To evaluate the effect of the emergence of coronavirus disease-19 (COVID-19) on pediatric intussusception. Materials and Methods Patients (< 18 years) who were diagnosed with intussusception and received enema reduction from 2011 to 2020 were included. We reviewed the demographics, yearly/monthly/seasonal incidence of intussusception, method and failure rate of enema reduction, recurrence rate of intussusception, surgical record, and pathologic report. Subsequently, we investigated the differences in mean age, failure rate of enema reduction, and recurrence rate of intussusception between the cases in 2020 and those in the period from 2011 to 2019. Results A total of 859 enema reductions were performed during the past decade, more in males and in the age < 1 year (mean age, 22.2 months). The yearly incidence was highest in 2014 and lowest in 2020, and the monthly incidence was highest on December and September. The cases in 2020 (n = 27) had a lower mean age (18.1 months vs. 22.8 months), higher failure rate of enema reduction (7.4% vs. 2.4%), and higher recurrence rate of intussusception (14.8% vs 7.3%) compared with those that occurred between 2011 and 2019 (n = 832). However, these results did not show statistical significance (p = 0.07, p = 0.15, p = 0.14, respectively). Conclusion With the emergence of COVID-19, the number of enema reductions was remarkably decreased with a lower mean age, higher failure rate, and higher recurrence rate.