• The Journal of Small Business Innovation
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• v.19 no.3
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• pp.1-16
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• 2016

Korean government had used public 'credit guarantee schemes' (CGS) as a counter-cyclical measure. However, it is still controversial about the effectiveness of policy financing on the SMEs. Criticism on policy financing involves the argument that supporting enterprises hampers competition and innovation of SMEs by increasing their dependence on the government and delays the exit of marginal firms. In this paper, we investigate how to effectively build up the rationale of running public CGSs. At the same time, we propose the ways to coexist of public credit guarantee and market-based private finance system for SMEs. First, CGS, as a counter-cyclical function, must coexist with the private financial system by compensating the market failure caused by pro-cyclical behavior of the private financial market. Second, CGS has the comparative advantages, compared to both the interest rate policy of the central bank and fiscal policy of the government. The credit guarantee is the symptomatic treatment that could revitalize the economy shortly by providing liquidity. Also, knowing that CGS is provided based on the leverage ratio defined by outstanding guarantee divided by capital fund, public 'credit guarantee' (CG) has an advantage that is free from the risk of government deficit. Third, the reason for existence of the CGS should be founded in supporting services for SMEs, available only in a public sector that is difficult to expect from private banks. In this regard, it is desirable to strengthen the publicness of credit guarantee over the support for start-ups, growing companies, the improvement of productivity, increase of exports, a long-term investment in facilities, the employment-creating businesses, and innovative enterprises.

• Korean Journal of Materials Research
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• v.10 no.6
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• pp.415-421
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• 2000

The effect of silica binder content on the mechanical properties of zircon shell mold was investigated. Content of binder silica sol to refractory powder in weight[$R_W$] was adjusted from 0.18 to 0.43. Sintering of the shell mold was carried out in the temperature range of $871^{\circ}C$ to $1400^{\circ}C$. Green strength of the shell mold at room temperature increased with increasing $R_W$ and sintering temperature up to $1300^{\circ}C$. However, the mold with $R_W$ of 0.43 that sintered at $1400^{\circ}C$ for 3 hours showed relatively low strength and large level of porosity. The mechanical behavior of the shells is supposed to attributed to the difference in thermal expansion coefficient between refractory powder and binder silica. The optimum value of $R_W$ for zircon-based shell molds was found to be 0.33.

• Macromolecular Research
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• v.11 no.4
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• pp.207-223
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• 2003

For last five years, we are developing the novel local drug delivery devices using biodegradable polymers, especially polylactide (PLA) and poly(D,L-lactide-co-glycolide) (PLGA) due to its relatively good biocompatibility, easily controlled biodegradability, good processability and only FDA approved synthetic degradable polymers. The relationship between various kinds of drug [water soluble small molecule drugs: gentamicin sulfate (GS), fentanyl citrate (FC), BCNU, azidothymidine (AZT), pamidronate (ADP), $1,25(OH)_2$ vitamin $D_3$, water insoluble small molecule drugs: fentanyl, ipriflavone (IP) and nifedipine, and water soluble large peptide molecule drug: nerve growth factor (NGF), and Japanese encephalitis virus (JEV)], different types of geometrical devices [microspheres (MSs), microcapsule, nanoparticle, wafers, pellet, beads, multiple-layered beads, implants, fiber, scaffolds, and films], and pharmacological activity are proposed and discussed for the application of pharmaceutics and tissue engineering. Also, local drug delivery devices proposed in this work are introduced in view of preparation method, drug release behavior, biocompatibility, pharmacological effect, and animal studies. In conclusion, we can control the drug release profiles varying with the preparation, formulation and geometrical parameters. Moreover, any types of drug were successfully applicable to achieve linear sustained release from short period ($1{\sim}3$ days) to long period (over 2 months). It is very important to design a suitable formulation for the wanting period of bioactive molecules loaded in biodegradable polymers for the local delivery of drug. The drug release is affected by many factors such as hydrophilicity of drug, electric charge of drug, drug loading amount, polymer molecular weight, the monomer composition, the size of implants, the applied fabrication techniques, and so on. It is well known that the commercialization of new drug needs a lot of cost of money (average: over 10 million US dollar per one drug) and time (average: above 9 years) whereas the development of DDS and high effective generic drug might be need relatively low investment with a short time period. Also, one core technology of DDS can be applicable to many drugs for the market needs. From these reasons, the DDS research on potent generic drugs might be suitable for less risk and high return.

• Korean Security Journal
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• no.29
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• pp.35-57
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• 2011

While demands on private securities have been increase, expectations on the service quality as compensation for the investment expensive is also rising. However, private security services are in situations of not satisfying various customer's needs owing to insufficient special manpower, capital, and skills in spite of expected high-quality services toward customers. Therefore, this study aims to find out the causality between private security enterprises and relationship characteristics, purchasing behaviors of customers, and then searching for a marketing strategy that can provide best services to the enterprises that are confronting to limitless competitive systems by grasping customer's needs and necessities. For achieving this goal, the study objected to shop employees using private security enterprises after diving Cheonan City of South Chungcheong Province into South, East and East, West, and then collected 236 persons by using the convenience sampling. Regarding to research tools, this study used questionnaire having been recomposed based on previous researches home and abroad, and frequency analysis, reliability analysis, factor analysis, correlation analysis, and regression analysis were carried out data was treated by treatments by using SPSS version 18.0 statistic package for treating the data. Through above research methods and procedures, results could be gotten same as followings. First, correlations between private security enterprise's relationship characteristics and purchasing behaviors showed positive (+) relations, and the latter was increased as much as relationship characteristics were high. Second, as the result of analyzing correlations between private security enterprise's relationship characteristics and purchasing behaviors, reputation, physical features, and communication affected influences to word of mouth activities. Third, reputation and communication affected to repeated purchasing behaviors as the result of analyzing private security's relationship characteristics and repeat purchasing behaviors.

• Journal of Korean Society of Transportation
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• v.35 no.3
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• pp.197-209
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• 2017

With the advent of age that people spend more time and money on leisure activities, there is increasing interest in professional sport games. The location of large scale sport facilities has substantial impacts on existing transportation pattern because the facility attracts and generates massive traffic volume within a short period of time. This study aims to develop a mode choice model of leisure trips of which the destinations are a sport facility. A structured SP (stated preference) survey questionnaires were developed through an experimental design, and professional sport spectators were asked to state their preference in the choice of transport mode to the sport facility. The survey results show that public transportation is preferred to passenger cars for their trip to big sports event, implying that the convenience of back home trip after the event is an important factor of their mode choice. This study is a rare research on the trip pattern to sports complex in Korea, which provides policy implications on the provision of mass transit including subway system to large scale sport complexes. And it is also expected that this study contributes to future researches on leisure trip pattern.

• Proceedings of the Korea Port Economic Association Conference
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• 2006.08a
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• pp.1-12
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• 2006

As national economies globalize, demand for intercontinental container shipping services is growing rapidly, providing a potential economic boon for the countries and communities that provide port services. On the promise of profits, many governments are investing heavily in port infrastructure, leading to a possible glut in port capacity, driving down prices for port services and eliminating profits as ports compete for business. Further, existing ports are making strategic investments to protect their market share, increasing the chance new ports will be overcapitalized and unprofitable. Governments and port researchers need a tool for understanding how local competition in their region will affect demand for port services at their location, and thus better assess the profitability of a prospective port. We propose to develop such a tool by extending our existing simulation model of global container traffic to incorporate demand-side shipper preferences and supply-side strategic responses by incumbent ports to changes in the global port network, including building new ports, scaling up existing ports, and unexpected port closures. We will estimate shipper preferences over routes, port attributes and port services based on US and international shipping data, and redesign the simulation model to maximize the shipper's revealed preference functions rather than simply minimize costs. As demand shifts, competing ports will adjust their pricing (short term) and infrastructure (long term) to remain competitive or defend market share, a reaction we will capture with a game theoretic model of local monopoly that will predict changes in port characteristics. The model's hypotheses will be tested in a controlled laboratory experiment tailored to local port competition in Asia, which will also serve to demonstrate the subtle game theoretic concepts of imperfect competition to a policy and industry audience. We will apply the simulation model to analyze changes in global container traffic in three scenarios: addition of a new large port in the US, extended closure of an existing large port in the US, and cooperative and competitive port infrastructure development among Korean partner countries in Asia.

• Journal of the Korean Geotechnical Society
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• v.34 no.11
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• pp.21-31
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• 2018

Bucket foundations are widely used in offshore areas due to their various benefits such as easy and fast installations. A bucket is installed using self-weight and the hydraulic pressure difference across the lid generated by pumping out water from inside the bucket. When buckets are installed in high permeable soil such as sands, upward seepage flow occurs around the bucket tip and interior, leading to a decrease in the effective stress in the soil inside the buckets. This process reduces the penetration resistance of buckets. However, the soil inside and outside the bucket can be disturbed due to the upward seepage flow and this can change the soil properties around the bucket. Moreover, upward seepage flow can create significant soil plug heave, thereby hindering the penetration of the bucket to the target depth. Despite of these problems, soil disturbance and soil plug heave created by suction installation are not well understood. This study aims to investigate the behavior of soil during suction installation. To comprehend the phenomena of soil plug heave during installation, a series of small-scale model tests were conducted with different testing conditions. From a series of tests, the effects of tip thickness of bucket, penetration rate, and self-weight were identified. Finally, soil properties inside the bucket after installation were approximated from the measured soil plug heave.

• Journal of Korea Entertainment Industry Association
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• v.13 no.2
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• pp.79-91
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• 2019

In the entertainment industry, risk management is crucial for securing competitiveness due to the risk of investment. The competitiveness of contents is reinforced when external factors such as industrial environment and internal factors centering on involving mechanism are simultaneously provided. The involving mechanism is a form of cognitive response behavior of the audience and occurs through signal processing of the brain when watching the image contents. The signal processing of the brain related to the contents watching is mainly performed in the working memory area, and in the case of the captivating movie, the information other than the contents transmitted to the audience is blocked to generate a temporary dissociation state. A dissociation state similar to a symptom such as hypnosis or amnesia occurs when the audience's level of involving is high. On the other hand, contents information in which the audience is concentrating his attention is used intensively for constructing future thinking through an episodic buffer while the inflow of external information is relatively blocked or delayed. The spectator's future thinking configuration takes the form of a hypothesis-forming activity and is based on the predictability of the brain. When these hypothesized behaviors correspond to the problem solving simulation of story and predictability which is an evolutionary function of the brain, the audience' s brain is involved in the contents at a high level. In order for the act to be effective, the factors such as the background of the hypothesis, the subject of the hypothesis, the internal information of the person, the type and position and quantity of the hypothesis information, and the hypothesis relevance and type of information are important. Based on these factors, analysis of the Kim Eun Sook Drama 'Goblin' shows that the above elements are operated in a very organic and meaningful way.

• KIPS Transactions on Software and Data Engineering
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• v.3 no.10
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• pp.441-450
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• 2014

The stock market is constantly changing and sometimes the stock prices unaccountably plummet or surge. So, the stock market is recognized as a complex system and the change on the stock prices is unpredictable. Recently, many researchers try to understand the stock market as the network among individual stocks and to find a clue about the change of the stock prices from big data being created in real time from Internet. We focus on the correlation between the stock prices and the human interactions in Internet especially in the stock message boards. To uncover this correlation, we collected and investigated the articles concerning with 57 target companies, members of KOSPI200. From the analysis result, we found that there is no significant correlation between the stock prices and the article volume, but the strength of correlation between the article volume and the stock prices is relevant to the stock return. We propose a new method for recommending stock portfolio base on the result of our analysis. According to the simulated investment test using the article data from the stock message boards in 'Daum' portal site, the returns of our portfolio is about 1.55% per month, which is about 0.72% and 1.21% higher than that of the Markowitz's efficient portfolio and that of the KOSPI average respectively. Also, the case using the data from 'Naver' portal site, the stock returns of our proposed portfolio is about 0.90%, which is 0.35%, 0.40%, and 0.58% higher than those of our previous portfolio, Markowitz's efficient portfolio, and KOSPI average respectively. This study presents that collective human behavior on Internet stock message board can be much helpful to understand the stock market and the correlation between the stock price and the collective human behavior can be used to invest in stocks.

• Asia Marketing Journal
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• v.12 no.4
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• pp.137-164
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• 2011

In the past, retailers secured customer loyalty by offering convenient locations, unique assortments of goods, better services than competitors, and good credit policy. All this has changed. Goods assortments among stores have become more alike as national-brand manufacturers place their goods in more and more retail stores. Service differentiation also has eroded. Many department stores have trimmed services, and many discount stores have increased theirs. Customers have become smarter shoppers. They don't pay more for identical brands, especially when service differences have diminished. In the face of increased competition from discount storess and specialty stores, department stores are waging a comeback war. Growth of intertype competition, competition between store-based and non-store-based retailing and growing investment in technology are changing the way consumers shop and retailers sell. Different types of stores-discount stores, catalog showrooms, department stores-all compete for the same consumers by carrying the same type of merchandise. The biggest winners are retailers that have helped shoppers to be economically cautious, simplified their increasingly busy and complicated lives, and provided an emotional connection. The growth of e-retailers has forced traditional brick-and-mortar retailers to respond. Basically brick-and-mortar retailers utilize their natural advantages, such as products that shoppers can actually see, touch, and test, real-life customer service, and no delivery lag time for small-sized purchases. They also provide a shopping experience as a strong differentiator. They are adopting practices as calling each shopper a "guest". The store atmosphere should match the basic motivations of the shopper. If target consumers are more likely to be in a task-oriented and functional mindset, then a simpler, more restrained in-store environment may be better. Consistent with this reasoning, some retailers of experiential products are creating in-store entertainment to attract customers who want fun and excitement. The retail experience must deliver value to turn a one-time visitor into a loyal customer. Retailers need a tool that measures the full range of components that define experience-based value. This study uses an experiential value scale(EVS) developed by Mathwick, Malhotra and Rigdon(2001) which reflects the benefits derived from perceptions of playfulness, aesthetics, customer "return on investment" and service excellence. EVS is useful to predict differences in shopping preferences and patronage behavior of customers. EVS consists of items measuring efficiency, economic value, visual appeal, entertainment value, service excellence, escapism, and intrinsic enjoyment, which are subscales of experiencial value. Efficiency, economic value, service excellence are linked to the utilitarian shopping value. And visual appeal, entertainment value, escapism and intrinsic enjoyment are linked to hedonic shopping value. It has been found that consumers value hedonic experiences activated from escapism and attractiveness of shopping environment as much as the product quality, price, and the convenient location. As a result, many department stores, discount stores, and other retailers are introducing differential marketing strategy based on emotional/hedonic values. Many researches suggest that consumers go shopping not only for buying products but also for various shopping experiences. In other words, they seek the practical, rational value as well as social, recreational values in the shopping process(Babin et al, 1994; Bloch et al, 1994). Retailers may enhance buyer's loyalty to store by providing excellent emotional/hedonic value such as the excitement from shopping, not just the practical value of buying good products efficiently. We investigate the effect of perceived shopping values on the emotional experience and store loyalty based on the EVS(Experiential Value Scales) developed by Holbrook(1994), Mathwick, Malhotra and Rigdon(2001). This study assumes that the relative effect of shopping value dimensions on the responses of shoppers will differ according to types of stores and analyzes the moderating effect of store type(department store VS. discount store) on the causal relationship between shopping value dimensions and store loyalty. Emprical results show that utilitarian values of shopping experience and hedonic value of shipping experience give the positive effect on the emotional response of consumers and store loyalty. We also found the moderating effect of store types. The effect of utilitarian shopping values on the attitude toward discount store is higher than the effect of utilitarian shopping values on the attitude toword department store. And the effect of hedonic shopping value on the emotional response to discount store is higher than on the emotional response to department store. The empirical results reflect on the recent trend that discount stores try to fulfill the hedonic needs of consumers as well as utilitarian needs(i.e, low price) that discount stores traditionally have focused on