• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.6
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• pp.9-21
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• 2014

Source and use of investment money in the content business has been subject to closer attention, This study attempts to identify the information asymmetry problem in the performing art are, focusing on the Korean musical play. Despite the various discussions in the venture capital practice in the performing art area, there has been few studies analyzing the investors' perspective. While juggling with the 'artistic value' and 'rate of return', the investors are concerned about the 'transparency' of the performing art practice. When coupled with the subjective judgment of 'artistic value', the information asymmetry between the investor and the performing art manager becomes more delicate. In the performing art business, 'SPC(Special Purpose Company)' is considered a possible solution to organize the deal structure in this field. This study analyzes the role of SPC regarding the information asymmetry problem.

• Journal of Convergence for Information Technology
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• v.12 no.3
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• pp.222-235
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• 2022

The Government provides a financial assistance to stimulate firm R&D and innovation activities. Previous papers on the impact of public subsidies on firm R&D investments mainly had a focus on an individual policy tool regardless of potential impacts of other policy instruments. This study addresses this gap by examining the effects of policy mix regarding a subsidy and a tax credit. The empirical analyses from fixed effect model using Survey on Technology of SMEs 2015-2017 revealed valuable points. First, policy mix induces more R&D investment of SMEs, which in turn, shows a complementary relationship between two instruments. Second, even if impact of tax credit controlled, subsidy is positively associated with SMEs R&D investment. These findings justify policy mix interventions to promote SME R&D activity. Moreover, grants can be applied as a more useful policy tool for SMEs that are constrained by resources and capabilities.

• The Journal of the Korea Contents Association
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• v.21 no.6
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• pp.552-560
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• 2021

With the recent development of the art distribution system, interest in art investment is increasing rather than seeing art as an object of aesthetic utility. Unlike stocks and bonds, the price of artworks has a heterogeneous characteristic that is determined by reflecting both objective and subjective factors, so the uncertainty in price prediction is high. In this study, we used LSTM Recurrent Neural Network deep learning model to predict the auction winning price by inputting the artist, physical and sales charateristics of the Korean artist. According to the result, the RMSE value, which explains the difference between the predicted and actual price by model, was 0.064. Painter Lee Dae Won had the highest predictive power, and Lee Joong Seop had the lowest. The results suggest the art market becomes more active as investment goods and demand for auction winning price increases.

• The Journal of the Convergence on Culture Technology
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• v.1 no.2
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• pp.37-44
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• 2015

In this paper, we survey the auction on the art and the art price index in the international and Korea art market. The auction plays a role on the art market from art creators to art collectors. The auction will grow because it utilizes the open art market. The art price index which is developed to give a guide in art investment. However, the history of art index is short and the developed art index is not well widely used. Since, the art price is opened in the auction, so it provides the necessary condition to develop art price index. In this study, we compare the foreign art price index with the domestic one and we examine the properties and utilization of the art price index in Korea.

• Journal of Service Research and Studies
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• v.11 no.2
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• pp.79-93
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• 2021

The size of the domestic art market has increased 21.9% over the past five years as of 2018 to KRW 448.2 billion and the number of transactions has also increased 31.6% to 39,367 points maintaining growth for the fifth consecutive year. Art distribution platforms are diversifying from galleries and auction-style offline to online auctions. The art market consists of three areas: production (creation), distribution (trade), and consumption (buying) of works and as the perception of artistic value as well as economic value spreads interest is also increasing as a means of investment. Consumers who purchase works and think of them as a means of investment technology have an increased need for objective information about their works, but there is a limit to collecting and analyzing objective and reliable statistics because information provision in the art market distribution area is closed and unbalanced. This paper identifies objective and reliable art distribution status and status through big data collection and structured and unstructured data analysis on art market distribution areas. Through this, we want to implement a system that can objectively provide analysis of authors in the current market. This study collected author information from art distribution sites and calculated the frequency of associated words by writer by collecting and analyzing the author's articles from Maeil Business, a daily newspaper. It aims to provide consumers with objective and reliable information.

• The Journal of the Convergence on Culture Technology
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• v.10 no.3
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• pp.731-737
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• 2024

This study conducted a quantitative research on the artistic perception and acceptance of value among buyers of commodified digital art known as NFT artworks. NFTs, digital assets, have shown rapid growth as investment products, but recently there has been a trend of declining value. However, NFT art, characterized by uniqueness and scarcity, continues to undergo continuous development to create new opportunities and values. Nonetheless, there are also negative opinions regarding NFT art itself as a form of technological art, as well as concerns about copyright disputes and fears of a bubble due to the conversion of physical artworks into NFTs. Predicting the value of artworks targeting specific demographics is difficult, and the value of innovative art such as NFT art, which changes along with the fluctuation of cryptocurrency values, is even more challenging to predict. Therefore, through research on the buyers who play a crucial role in the growth and development of this new form of art, the study aims to contribute to the expansion of NFT art.

• Journal of Korea Entertainment Industry Association
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• v.14 no.3
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• pp.191-200
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• 2020

Companies are seeking to maximize profits through exports and imports in the ultra-fast, ultra-high-speed modern society. It is only possible to sustain its survival if it targets the global market, not based on any specific region. The K-POP group is also targeting overseas markets in a manner similar to the various global strategies used when companies make inroads into foreign markets, including exports, contracts and direct investment. The K-POP group is engaged in various forms of activities, ranging from simple forms of performance (export) that are visited and staged by an invitation from a certain foreign country to series performances (license) by an invitation from a local promoter and tour performances using its capabilities. The K-POP group is seeking to go beyond the art of single-stage performances and make a systematic plan and make inroads into foreign countries in the form of direct investment suitable for each foreign country. The K-POP group made inroads into overseas markets in the form of simple performances from the late 1990s to 2005, when 'Korean Wave' was first introduced. Group H.O.T., etc. are typical examples. Since then, it has sought to enter overseas markets in the form of franchises by accepting overseas members by 2018, starting with Super Junior in 2005. Since then, the K-POP group in the form of joint investment attempted as group IZ*ONE in 2018 appeared, and a voice story came out in September 2018 when South Korea's JYP Entertainment and Tencent of China joined forces. Unlike K-POP Group, which has entered foreign markets with a global strategy based on the existing export method (H.O.T.), 'Boystory' is a representative group that is made with joint investment, which is a direct investment method. In February 2020, RBW released 'D1Verse,' a five-member group selected by Vietnam's reality show, as a joint investment-type group. This shows the possibility that domestic and foreign companies will release a group in the form of joint investment in order to pursue both globalization and localization.

• Journal of Science of Art and Design
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• v.7
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• pp.105-127
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• 2005

This research is on the characteristics and roles of important cities of Germany based on the history of the modern art museum and its possessions. Especially, it is focusing on the modern art museums in the western Germany including Dusseldorf, Koln, and Frankfrut that have shown economic recovery from the Miracle of Rhine; the capital city of Germany, Berlin, as well as Munich, the second capital city of Germany. Here, it harmonizes with the tradition of the past and simultaneously, it spreads the concept and role of the new museum as a forerunner. After the WWII, this is the most active of supporting investment for art museums and authors from the economic development. Also, it represents Germany with its national promotion of culture and arts. The modern art museums of Germany emphasize the mission that they exist for the people and the nation as well as creation of new art culture. These art museums working for national culture and art development do not simply collect and preserve arts. They induce active involvement from the public and keep in mind of national objectives. Here, art museums become and educational setting for the people and a room for new art culture. This research is on Germany modern art museum and it is composed of important 'public institutions' of Germany that critically influence the growth of world-renown authors. After the unification of Germany, Munchen and the western region became an important places centering around new Berlin modern art museum. They are the best places that show the national objectives and regional characteristics. Also, there are art museum educational curriculum and open space for the people by explaining exhibition plans and contents. Furthermore, there are two characteristics of German modern art museums that are noteworthy. Firstly, there are Berlin's Neue Nationalgalerie, Munchen's Pinakothek de Moderne, and Dusseldorf's 'K20' (Kunstsammlung N-Westfalen K20) that are the roots of modern art. These modern art museums exhibit popular author's collection repeatedly. This has a tendency to standardize audiences' view or to make audiences bored. It is becoming more like a trend for art work to appear and disappear. Despite these problems, German modern art museums play a critical role for a new cultural art creation and for the national identity by attempting to show the works of domestic authors as well as an intensive collection of world-renown authors' works. Secondly, there is a role as a new art museum to work together with people. It strives to continuously educate difficult modem arts, exhibits in an open space stimulating interest, participation, and conversations. From these roles, Hamburger Bahnhof Museum fur Gegenwart or Dusseldorf's 'K21, Frankfurt Museum $f\"{u}r$ Moderne Kunst, $Kf\"{o}ln$ Museum Ludwig are given new attention. Here, they emphasize the importance of communicating with the audiences and provides experiences that are different from the original spaces by showing the architecture tecture style of the art museum. In conclusion, German modern art museums attempt various changes by connecting to art education. With art museum activities, there forms a connection between arts and the lives of people, and from this, creative cultural art focused on the art museum borns. This is not only limited to Germany, the U.S., etc. We, too, should pay attention to new art culture creation from changes of role and function of modern art museums.

• International Commerce and Information Review
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• v.9 no.4
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• pp.141-158
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• 2007

The purpose of this paper is to examine the validity or effectiveness of the Arbitration Clause such as Model Clause I, and to confirm how other issues such as arbitrable "investment", appointment of arbitrators and law governing the agreement be reflected in the agreement. However, the parties should be sure that the arbitration clause is valid if they have checked whether, for their particular situation, the ICSID Centre has jurisdiction. For the validity of the Arbitration Clause, first the host country and the country which the investor belong to must be "contracting states" to the ICSID Convention. Second, the specific consent to arbitrate must be expressed in writing in the investment contract or in a national investment law or in an investment protection treaty. The issue of "nationality" of an other contracting state is determined by the place of incorporation or the location of the head office. In case the parties have doubts about a valid consent to arbitrate, Art. 41 of the ICSID Convention provides, regarding ICSID jurisdiction, that the tribunal shall be the judge of its own competence. It follows that ICSID Arbitration has an autonomous and exclusive character. As a consequence, domestic courts may not interfere with the question of ICSID's jurisdiction, which is called as "rule of abstention".

• Journal of Families and Better Life
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• v.28 no.3
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• pp.61-71
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• 2010

This thesis seeks to inquire into the effect of group art therapy using a fabric medium on the emotional intelligence of middle school students. This application of fabrics to group art therapy is helpful in terms of gender roles and equality from an educational aspect and can help activate and control positive sentiment. Therefore, it was believed to have a positive effect on emotional intelligence. The subjects were 28 boys and girls who were students of the Supportive Project for the Priority Region of Educational Welfare Investment. The measurement tool is a revision of the emotional intelligence test of Mun Yong-Rin (1997), which itself was based on the emotional intelligence model of Mayer and Salovey (1997). The data materials are analyzed by SPSS (ver. 17.0 for Windows). To test the homogeneity of the groups, the Mann-Whitney U test was carried out, and to analyze the effect of this program, the Wilcoxon signed ranks test was carried out. The results are as follows. This program had a positive effect on the emotional intelligence of both male and female students, especially on their empathy and activation of thinking among the subcategories. This study has significance in that it verifies the effect of the improvement of emotional intelligence by way of group art therapy using fabrics, adding a fabric medium to the art medium. As the subject group was restricted to 28 adolescents in the Supportive Project, it is not easy to generalize the achievement to the entiresphere of group art therapy.