• KDI Journal of Economic Policy
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• v.12 no.3
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• pp.153-172
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• 1990

The present paper investigates the potential value of strategic antitrust policy in an oligopolistic international market. The market is characterized by a non-cooperative Cournot-Nash equilibrium and by asymmetry in costs among firms in the world market. The model is useful for two reasons. First, it is important in the context of policy-making to examine the conditions under which it may be beneficial to relax antitrust law to enhance competitiveness. Second, the explicit derivation of the level of cost-saving required for a gain in total domestic surplus provides an empirical rule for excluding industries that do not satisfy the requirements for a socially beneficial antitrust exemption. Results of the analysis include a criterion that tells how the cost-saving and concentration effects of a merger offset each other. The criterion is derived from fairly general assumptions on demand functions and is simple enough to be applied as a part of the merger guidelines. Another interesting policy implication of our analysis is that promoting mergers would not be a beneficial strategy in a net importing industry where cost-saving opportunities are thin. Cost-saving domestic mergers are more likely to increase national welfare in exporting industries. The best candidate industries for application of strategic antitrust policy are those with the following characteristics: (i) a large potential for efficiency enhancement; (ii) high market concentration at the world but not the domestic level; (iii) a high ratio of exports to imports. Recently, many policymakers and economists in Korea have also come to believe that the appropriate antitrust policy in an era of increased foreign competition may actually be to encourage rather than to prohibit domestic mergers. The Industry Development Act of 1986 and the proposed bill for Mergers and Conversions in the Financial Industry of 1990 reflect this changing perspective on antitrust policy. Antitrust laws may burden domestic firms in the sense that they have a more constrained strategy set. Expenditures to avoid antitrust attacks could also increase costs for domestic firms. But there is no clear evidence that the impact of antitrust policy is significant enough to harm the competitiveness of domestic firms. As a matter of fact, it is necessary for domestic financial institutions to become large in scale in this era of globalization. However, the absence of empirical evidence for efficiency enhancement from mergers suggests caution in the relaxation of antitrust standards.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.6
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• pp.103-117
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• 2019

Under the uncertainties and the consequent turmoils of the IMF financial crisis in Korea, Hyunsung Techno was founded in 1997 on the basis of automobile press molding which is critical for the quality of automobile. Ever since, Hyunsung Techno has grown rapidly based on the domestic market; however, gradually, it had faced a stalemate in terms of the saturation, on the supply side and the growth limit, on the demand side, of the domestic molding market. Accordingly, Hyunsung pushed for a strategy to localize overseas markets and a new acquisition strategy instead of resting on the domestic mold industry's growth, and the success of these strategies enabled it to leap forward into a global company with five companies including affiliates and 70 billion won in sales. The main reason why Hyunsung Techno evolved from a small and medium-sized manufacturing company into a global businesses is due to the success of Boa Constrictor M&A strategy. Its acquisition strategy is not just a successful case of any acquisition, but a rare, maybe the first domestic case of a successful acquisition of a primary supplier by a secondary supplier. Through the success of this strategy, Hyunsung Techno has achieved a continuous growth of businesses, an increase in sales volume, and expansion into new businesses. And on top of that, this achievements is leading it to be a global conglomerate In this study, Hyunsung Techno's success strategy, which is transformed from a small domestic manufacturing company into a global enterprise, was analyzed in detail with its development stages divided into start-up, overseas expansion, acquisitions, and business diversification. Eventually, this case study is meant to offer strategic implications for other small and medium-sized businesses under the current, gloomy economy of low or zero growth of today.

• Journal of Gifted/Talented Education
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• v.22 no.1
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• pp.1-21
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• 2012

The objective of this study is to suggest improvement plan for invention gifted education based on the awareness of teachers and professionals who related to the invention gifted education for the expansion and development of invention gifted education through improvement of relevant problems. To this end, invention gifted education system and its operational status were analyzed, and questionnaire survey on the awareness of the development plan and satisfaction level was conducted, targeting professionals related to the invention gifted education and teachers in charge of invention gifted education classes or gifted education center. The research results are as follows. First, the level of satisfaction on the invention gifted education was greater than normal (M=3.0) in general, but in the field of 'educational materials', 'teacher training programs' and 'human and material support system of support agencies', the level of satisfaction was relatively low, which requires expansion of the support. Second, it is necessary for Korean Intellectual Property Office and Korea Invention Promotion Association to designate and establish specialized research institution to play a key role in enhancing development and efficiency of invention gifted education. As a result of the questionnaire survey, it turned out that expectation and necessity of the specialized research agency was highly recognized. In particular, demand for 'research and development of gifted education method and materials' and 'research and development of teacher training materials and implementation of teacher training' was high among the key areas of the specialized research institution. Third, teachers and professionals related to the invention gifted education responded that 'invention knowledge' in the areas of invention knowledge and thinking and 'entrepreneurship' in the area of invention attitude was somewhat low toward the question on the level of the 9 characteristics of gifted students with invention talents which current beneficiaries of invention gifted education have, which leads to conclusion that review on the model for the selection of gifted children with invention talents as well as research and development of invention gifted education program to enhance characteristics with low levels is required. If long-term development plans and initiatives are deduced based on this, an effective framework for the invention gifted education will be established in the near future. In addition, it is expected that the differentiated political visions and goals will be established in connection with master plan for the promotion of gifted education.

• Proceedings of the Korea Society of Poultry Science Conference
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• 2004.11a
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• pp.80-90
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• 2004

Three experiments were performed to test the assumption that imbalanced dietary amino acid mixtures must lead to increased heat production (HP). The first experiment was based on diets formulated to have a wide range of crude protein (CP) concentrations but a fixed concentration of lysine, formulated to be the first-limiting amino acid. In the second (converse) experiment, lysine concentration was varied over a wide range while CP content was kept constant. To prevent the masking of dietary effects by thermoregulatory demands, the third experiment was performed at 30 $^{\circ}C$ with the diets similar to the diets used in the second experiment. The detailed relationships among amino acid balance, nitrogen (N) metabolism and energy (E) metabolism were investigated in a computer-controlled chamber calorimetry system. The results of experiments were compared with the predictions of a computerised simulation model of E metabolism. In experiment 1. with constant lysine and varying CP, there was a 75 % increase in N intake as CP concentration increased. This led to a 150 % increase in N excretion. with no significant change in HP. Simulated HP agreed with the empirically determined results in not showing a trend with dietary CP. In experiment 2, with varying lysine but constant CP, there was a 3-fold difference in daily weight gain between the lowest and highest lysine diets. HP per bird increased significantly with dietary lysine concentration. There was still an effect when HP was adjusted for body weight differences, but it failed to maintain statistical significance. Simulated HP results agreed in showing little effect of varying lysine concentration and growth rate on HP. Based on the results of these two experiments, the third experiment was designed to test the response of birds to dietary lysine in high ambient temperature. In experiment 3 which performed at high ambient temperature (30 $^{\circ}C$), HP per bird increased significantly with dietary lysine content, whether or not adjusted for body-weight. The trend was greater than in the previous experiment (20 $^{\circ}C$).

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.4
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• pp.149-165
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• 2016

The objectives of this study is to assess the influence of individual characteristics and economic environment on the entrepreneurship such as entrepreneurial Intention and behavior based on the theory of Planned behaviors. This study used a country-level merged data set composed of GEM(Global Entrepreneurship Monitor) data and the OECD Statistics data. And this used the fixed effect model to analyze the panel data of 31 OECD countries during the period from 2005 to 2014. Our findings show that subjective norm has a significantly positive effect on entrepreneurial intention. In individual characteristics, the perceived opportunities has a significantly positive effect on early-stage entrepreneurial activity(TEA) and improvement-driven opportunity entrepreneurial activity. We identify the differences of between necessity-driven and improvement-driven opportunity entrepreneurial activity. For example, the effect on necessity-driven entrepreneurial activity is significantly negative. We also find the differences of between necessity-driven and improvement-driven opportunity entrepreneurial activity in economic environment variables. While real GDP growth as a demand variable has a significantly positive effect on necessity-driven entrepreneurial activity, unemployment rate as a supply variable has a significantly negative effect on early-stage entrepreneurial activity(TEA) and improvement-driven opportunity entrepreneurial activity. And GDP per capita as a supply variable has a significantly positive effect on early-stage entrepreneurial activity(TEA) and improvement-driven opportunity entrepreneurial activity. But the effect on necessity-driven entrepreneurial activity is significantly negative. We provide an interpretation of these empirical findings, emphasizing the importance of considering individual characteristics and economic environment simultaneously in promoting entrepreneurship.

• Journal of Korean Tunnelling and Underground Space Association
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• v.20 no.3
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• pp.543-560
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• 2018

With the increased development in downtown underground space facilities that vertically cross under a railway at a shallow depth, the demand for non-open cut method is increasing. However, most construction sites still adopt the pipe roof method, where medium and large diameter steel pipes are pressed in to form a roof, enabling excavation of the inside space. Among the many factors that influence the loosening region and loads that occur while pressing in steel pipes, the size of the pipe has the largest impact, and this factor may correspond to the magnitude of load applied to the underground structure inside the steel pipe roof. The super equilibrium method (SEM) has been developed to minimize ground disturbance and loosening load, and uses small diameter pipes of approximately 114 mm instead of conventional medium and large diameter pipes. This small diameter steel pipe is called an SEM pile. After SEM piles are pressed in and the grouting reinforcement is constructed, a crossing structure is pressed in by using a hydraulic jack without ground subsidence or heaving. The SEM pile, which plays the role of timbering, is a fore-poling pile of approximately 5 m length that prevents ground collapse and supports surface load during excavation of toe part. The loosening region should be adequately calculated to estimate the spacing and construction length of the piles and stiffness of members. In this paper, we conducted a comparative analysis of calculations of loosening load that occurs during the press-in of SEM pile to obtain an optimal design of SEM. We analyzed the influence of factors in main theoretical and empirical formulas applied for calculating loosening regions, and carried out FEM analysis to see an appropriate loosening load to the SEM pile. In order to estimate the soil loosening caused by actual SEM-pile indentation and excavation, a steel pipe indentation reduction model test was conducted. Soil subsidence and soil loosening were investigated quantitatively according to soil/steel pipe (H/D).

• Journal of Korean Society of Environmental Engineers
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• v.31 no.11
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• pp.1007-1018
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• 2009

Hydrocyclone is widely used in industry, because of its simplicity in design, high capacity, low maintenance and operational cost. The separation action of a hydrocyclone treating particulate slurry is a consequence of the swirling flow that produces a centrifugal force on the fluid and suspended particles. In spite of hydrocyclone have many advantage, the application for treatment of urban stormwater case study were rare. We conducted a laboratory scale study on treatable potential of micro particles using hydrocyclone filter (HCF) that was a combined modified hydrocyclone with perlite filter cartridge. Since it was not easy to use actual storm water in the scaled-down hydraulic model investigations, it was necessary to reproduce ranges of particles sizes with synthetic materials. The synthesized storm runoff was made with water and addition of particles; ion exchange resin, road sediment, commercial area manhole sediment, and silica gel particles. Experimental studies have been carried out about the particle separation performance of HCF-open system and HCF-closed system. The principal structural differences of these HCFs are underflow zone structure and vortex finder. HCF was made of acryl resin with 120 mm of diameter hydrocyclone and 250 mm of diameter filter chamber and overall height of 800 mm. To determine the removal efficiency for various influent concentrations of suspended solids (SS) and chemical oxygen demand (COD), tests were performed with different operational conditions. The operated maximum of surface loading rate was about 700 $m^3/m^2$/day for HCF-open system, and 1,200 $m^3/m^2$/day for HCF-closed system. It was found that particle removal efficiency for the HCF-closed system is better than the HCF-open system under same surface loading rate. Results showed that SS removal efficiency with the HCF-closed system improved by about 8~20% compared with HCF-open system. The average removal efficiency difference for HCF-closed system between measurement and CFD particle tracking simulation was about 4%.

• Journal of Distribution Research
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• v.17 no.5
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• pp.59-83
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• 2012

Agriculture is a primary industry that influenced by the weather or meterological factors more than other industry. Global warming and worldwide climate changes, and unusual weather phenomena are fatal in agricultural industry and human life. Therefore, many previous studies have been made to find the relationship between weather and the productivity of agriculture. Meterological factors also influence on the distribution of agricultural product. For example, price of agricultural product is determined in the market, and also influenced by the weather of the market. However, there is only a few study was made to find this link. The objective of this study is to investigate the effects of meterological factors on the distribution of agricultural products, focusing on the distribution of chinese cabbages. Chinese cabbage is a main ingredient of Kimchi, and basic essential vegetable in Korean dinner table. However, the production of chinese cabbages is influenced by weather and very fluctuating so that the variation of its price is so unstable. Therefore, both consumers and farmers do not feel comfortable at the unstable price of chinese cabbages. In this study, we analyze the real transaction data of chinese cabbage in wholesale markets and meterological factors depending on the variety and geography. We collect and analyze data of meterological factors such as temperatures, humidity, cloudiness, rainfall, snowfall, wind speed, insolation, sunshine duration in producing and consuming region of chinese cabbages. The result of this study shows that the meterological factors such as temperature and humidity significantly influence on the volume and price of chinese cabbage transaction in wholesale market. Especially, the weather of consuming region has greater correlation effects on transaction than that of producing region in all types of chinese cabbages. Among the whole agricultural lifecycle of chinese cabbages, 'seeding - harvest - shipment - wholesale', meterological factors such as temperature and rainfall in shipment and wholesale period are significantly correlated with transaction volume and price of crops. Based on the result of correlation analysis, we make a regression analysis to verify the meterological factors' effects on the volume and price of chines cabbage transaction in wholesale market. The results of stepwise regression analysis are shown in