• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.5
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• pp.77-98
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• 2020

Recently, the government provided about 35 trillion won to start-ups through a large amount of start-up support funds from the Korea Credit Guarantee Fund and the Korea Development Bank, and more than 100 trillion won to start-ups over the past three years.(2015-2018) The Ministry of SMEs and Startups announced that a total of 1.4517 trillion won will be supported by 16 ministries (90 projects) after surveying start-up support projects by ministries in 2020 to create a start-up country. Indeed, among the budgets supported by the Ministry of SMEs and Startups, startups accounted for 85%, while scale-ups (growth and maturity) were only 15%. However, the survival rate of Korean start-ups was far lower than that of developed countries. The survival rate for the three years after the start-up was 39.1 percent, with only about 4 out of 10 surviving, with 27.5 percent surviving for five years, and only 3 out of 10 surviving. On the other hand, overseas start-ups have a survival rate of twice as high as that of Korea for five years. Accordingly, this study aims to empirically analyze and examine the need for research on nascent entrepreneurs, which have recently been actively supported by the government, as well as the impact of start-up motivation and start-up preparation on the intention to continue business. The survey was conducted from April 1 to May 15, 2020 for nascent entrepreneurs nationwide, and 222 of the total 245 copies were analyzed, and the questionnaire was measured using the Likert 5-point scale. As a result of the analysis, first, all factors constituting start-up motivation were adopted by significantly affecting start-up satisfaction. In addition, among the sub-factors of nascent entrepreneurs' preparation, item preparation was adopted as a significant influence on start-up satisfaction. Second, the nascent entrepreneurs' satisfaction level was adopted by having a significant impact on the business continuity. Third, some of the motivations for self-realization of the motivation for start-ups were adopted by having a significant impact on the business continuity. In addition, the preparation of items for the start-up preparation of nascent entrepreneurs was partially adopted as they had a significant impact on the business continuity. Fourth, it was adopted by the mediation effect of start-up satisfaction between the motivation of the nascent entrepreneurs' preparation and the business continuity. In addition, it was adopted by the medium effect of start-up satisfaction between the nascent entrepreneurs' preparation and the business continuity. Based on the results of these studies, it is intended to draw practical implications, and to provide useful policy implications to increase nascent entrepreneurs' satisfaction and continue to carry out their start-ups.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.5
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• pp.151-163
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• 2015

This study aims to clarify factors having effect on the turnover and entrepreneurial intention of financial institution workers. Particularly, this study analyzed the effect of job satisfaction, job insecurity, retirement expectation and retirement preparation activities. As research subjects, this study selected financial institution workers residing in Seoul and the capital area and used a total of 508 samples as analysis data. This study analyzed job satisfaction, job insecurity, retirement expectation and retirement preparation activities as factors having effect on the turnover and entrepreneurial intention of financial institution workers. The research results can be summarized as follows; Firstly, all the factors of job satisfaction had negative (-) effect on their turnover intention, and compensation satisfaction and interpersonal relation satisfaction also had negative (-) effect on their entrepreneurial intention. Secondly, since job insecurity had positive (+) effect on their turnover intention and entrepreneurial intentions, the more insecure their jobs became, the more their turnover and entrepreneurial intention increased. Thirdly, in the retirement expectation, forced frustration and continuation had positive (+) effect on their turnover intention, and forced frustration, new start and continuation also had positive (+) effect on their entrepreneurial intention. Fourthly, in the retirement preparation activity, entrepreneurial preparation, social preparation and physical preparation of retirement preparation activity had positive (+) effect on their turnover intention, but economical preparation had negative (-) effect on their turnover intention, while entrepreneurial preparation had positive (+) effect on their entrepreneurial intention. In other words, as they prepare business start-up more for retirement, their turnover and entrepreneurial intentions increase more. Although they receive higher wages than other workers in different job fields as financial institution workers, they showed significant results about turnover and entrepreneurial intentions, which indicates that job satisfaction, job insecurity, retirement expectation and preparation activities function as important variables in the relation with their turnover and entrepreneurial intentions. Such research results imply that it is necessary to develop various educational programs and turnover and business start-up support programs so that financial institution workers may have better understanding of both success and failure cases when they actually work on business start-ups.

• Journal of Life Science
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• v.22 no.8
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• pp.1114-1119
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• 2012

Bacteria are frequently contaminated during the collection and processing procedures of boar semen. Of the contaminants, Stenotrophomonas (S.) maltophilia is a Gram-negative bacterium that is widely distributed in a variety of habitats. Although PCR assays have been developed for the detection of S. maltophilia, they cross-react with some species of Xanthomonas. In this study, we designed a primer set for the detection of S. maltophilia in order to target the chiA (GenBank accession no. NC_010943) gene. The specific PCR products were amplified from S. maltophilia only, not from other tested strains that are frequently found in semen. The detection limit of the PCR was $1.5{\times}10^3$ CFU/ml with pure-cultured S. maltophilia and $1.5{\times}10^4$ CFU/ml with S. maltophilia spiked in semen. Twenty-six (5.9%) S. maltophilia were isolated from 440 semen samples. The PCR results exhibited 98.9% agreement with a comparison of S. maltophilia isolation. Also, the sensitivity and specificity of the PCR were 100% and 98.7%, respectively. In the antimicrobial susceptibility test, S. maltophilia isolates were highly susceptible to enrofloxacin and florfenicol, while the majority of them were resistant to amoxicillin/clavulanic acid, apramycin, ceftiofur, penicillin, and spectinomycin. These results indicated that the PCR using the chiA gene was proven to be reliable and effective for the detection of S. maltophilia with high levels of sensitivity and specificity.

• KDI Journal of Economic Policy
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• v.32 no.2
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• pp.171-216
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• 2010

With the payment and settlement systems becoming more and more complex and interconnected, the issue of their interdependency rises as an important academic issue as well as a policy topic. This study examines causes, forms, and risk management of interdependencies of payment and settlement systems in Korea, and presents their current situation. By way of simulations using BOF-PSS2 developed by the Bank of Finland, we quantify the effects of an operational disruption on the payment and settlement systems so as to figure out the degree of interdependency. As a result, the secondary round effect reaches up to ￦13.6 trillion a day, which amounts to 7.8% of the daily settlement value. Furthermore, if we also consider the amount of direct operational disruption, the volume of operational disruption occupies 22.3% of total value of the daily settlement, evidencing that the interdependencies of the payment and settlement systems in Korea is enormously widespread. The secondary round effects are found to be more severe with security companies rather than with banks, and to be more depended upon when it is perceived rather than it actually happens. In case that we expand the liquidity to include cash holdings and deposits as assets, the secondary round effect dramatically decreases in all types of financial institutions while foreign banks account for more share of all the secondary round effects increases. Based on these results, we suggest various policy tasks and directions to improve the risk management of settlement systems: expansion of off-setting settlements, introduction of a new settlement system for securities transactions, rapid provision of liquidity to financial institutions, more effective monitoring on participant institutions, and intensified information sharing and cooperation among the systems.

• Journal of Korean Society of Forest Science
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• v.87 no.4
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• pp.549-556
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• 1998

To develop the effective methods of flowering stimulation, Hinoki cypress (Chamaecyparis obtusa Sieh. et Zuec.) grafts growing in a seed orchard and in a clone bank in Southern Breeding Station of Cheju were applied with gibberellin treatments, and predicted the seed production potential. In the seed orchard, $GA_{4/7}$ 1.5cc was injected into the stem of drafts and sprayed whale tree crown with $GA_3$ 300ppm and $GA_{4/7}$ 300ppm. Un the other hand, in the clonal archives, drafts were given intrusion of $GA_{4/7}$ 1.5cc into the excised and open inner part of bark wind $GA_3$ 20mg and sprayed with $GA_3$ 300ppm. Additionally, grafts growing in the seed orchard were treated with gibberellins at 3 different periods of time and 3 different treatments during the growing season. The results obtained here are summarized as follows : 1. All of the applications of Gilbberellin promoted female flower formation. Among these, the treatment of intrusion of $GA_{4/7}$ 1.5cc into the excised and open inner part of bark was racist effective, followed by the spraying of $GA_3$ 300ppm. Similarly, the applications of gibberellin promoted male flower formation. 2. Regarding the time of applications, treatment on August 15 was more effective than those of August 31 and September 11 in the stimulation of female flowers. On the contrary, there was no significant difference in the number of male flowers among 3 different time treatments. 3. It was supposed that the application of the intrusion of $GA_{4/7}$ 1.5cc into the excised and open inner part of bark on August 15 showing the best effect in female flower formation can produce 22.12kg seeds per ha. 4. Considerable significant difference existed among clones for both female and male flower formations. 5. Flower formation, especially female flower formation, seemed to be partially associated with the genetic potential of individual trees.

• Journal of Intelligence and Information Systems
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• v.20 no.2
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• pp.163-178
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• 2014

Following research proposes "Virtualization of Smart Cards (ViSCa)" which is a security system that aims to provide a multi-device platform for the deployment of services that require a strong security protocol, both for the access & authentication and execution of its applications and focuses on analyzing Virtualization of Smart Cards (ViSCa) platform-based mobile payment service by comparing with other similar cases. At the present day, the appearance of new ICT, the diffusion of new user devices (such as smartphones, tablet PC, and so on) and the growth of internet penetration rate are creating many world-shaking services yet in the most of these applications' private information has to be shared, which means that security breaches and illegal access to that information are real threats that have to be solved. Also mobile payment service is, one of the innovative services, has same issues which are real threats for users because mobile payment service sometimes requires user identification, an authentication procedure and confidential data sharing. Thus, an extra layer of security is needed in their communication and execution protocols. The Virtualization of Smart Cards (ViSCa), concept is a holistic approach and centralized management for a security system that pursues to provide a ubiquitous multi-device platform for the arrangement of mobile payment services that demand a powerful security protocol, both for the access & authentication and execution of its applications. In this sense, Virtualization of Smart Cards (ViSCa) offers full interoperability and full access from any user device without any loss of security. The concept prevents possible attacks by third parties, guaranteeing the confidentiality of personal data, bank accounts or private financial information. The Virtualization of Smart Cards (ViSCa) concept is split in two different phases: the execution of the user authentication protocol on the user device and the cloud architecture that executes the secure application. Thus, the secure service access is guaranteed at anytime, anywhere and through any device supporting previously required security mechanisms. The security level is improved by using virtualization technology in the cloud. This virtualization technology is used terminal virtualization to virtualize smart card hardware and thrive to manage virtualized smart cards as a whole, through mobile cloud technology in Virtualization of Smart Cards (ViSCa) platform-based mobile payment service. This entire process is referred to as Smart Card as a Service (SCaaS). Virtualization of Smart Cards (ViSCa) platform-based mobile payment service virtualizes smart card, which is used as payment mean, and loads it in to the mobile cloud. Authentication takes place through application and helps log on to mobile cloud and chooses one of virtualized smart card as a payment method. To decide the scope of the research, which is comparing Virtualization of Smart Cards (ViSCa) platform-based mobile payment service with other similar cases, we categorized the prior researches' mobile payment service groups into distinct feature and service type. Both groups store credit card's data in the mobile device and settle the payment process at the offline market. By the location where the electronic financial transaction information (data) is stored, the groups can be categorized into two main service types. First is "App Method" which loads the data in the server connected to the application. Second "Mobile Card Method" stores its data in the Integrated Circuit (IC) chip, which holds financial transaction data, which is inbuilt in the mobile device secure element (SE). Through prior researches on accept factors of mobile payment service and its market environment, we came up with six key factors of comparative analysis which are economic, generality, security, convenience(ease of use), applicability and efficiency. Within the chosen group, we compared and analyzed the selected cases and Virtualization of Smart Cards (ViSCa) platform-based mobile payment service.

• Journal of Intelligence and Information Systems
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• v.22 no.4
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• pp.19-43
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• 2016

This study examines the causes of the Asian exchange rate crisis and compares it to the European Monetary System crisis. In 1997, emerging countries in Asia experienced financial crises. Previously in 1992, currencies in the European Monetary System had undergone the same experience. This was followed by Mexico in 1994. The objective of this paper lies in the generation of useful insights from these crises. This research presents a comparison of South Korea, United Kingdom and Mexico, and then compares three different models for prediction. Previous studies of economic crisis focused largely on the manual construction of causal models using linear techniques. However, the weakness of such models stems from the prevalence of nonlinear factors in reality. This paper uses a structural equation model to analyze the causes, followed by a neural network model to circumvent the linear model's weaknesses. The models are examined in the context of predicting exchange rates In this paper, data were quarterly ones, and Consumer Price Index, Gross Domestic Product, Interest Rate, Stock Index, Current Account, Foreign Reserves were independent variables for the prediction. However, time periods of each country's data are different. Lisrel is an emerging method and as such requires a fresh approach to financial crisis prediction model design, along with the flexibility to accommodate unexpected change. This paper indicates the neural network model has the greater prediction performance in Korea, Mexico, and United Kingdom. However, in Korea, the multiple regression shows the better performance. In Mexico, the multiple regression is almost indifferent to the Lisrel. Although Lisrel doesn't show the significant performance, the refined model is expected to show the better result. The structural model in this paper should contain the psychological factor and other invisible areas in the future work. The reason of the low hit ratio is that the alternative model in this paper uses only the financial market data. Thus, we cannot consider the other important part. Korea's hit ratio is lower than that of United Kingdom. So, there must be the other construct that affects the financial market. So does Mexico. However, the United Kingdom's financial market is more influenced and explained by the financial factors than Korea and Mexico.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.28 no.3
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• pp.122-130
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• 2010

The Study takes the rivers in Zhouzhuang - traditional Chinese Kangnam watery landscape as the object. The purpose of this study is to grasp the relationships between visual characteristics and the preference. The following is the research process: Firstly, the theoretical study of Zhouzhuang, the traditional Kangnam region in China, is conducted, the watery landscape is taken pictures, and 22 photos are selected. Secondly, in order to grasp the visual preference and landscape characteristics of the watery landscape in Zhouzhuang, 22 pictures and 25 pairs of adjectives are adopted for the questionnaire survey. Thirdly, in order to have a better understanding on the physical properties and effects of physical quantity on the preference, the occupation ratios of buildings and sculptures, natural elements, footpaths, bank revetments and other landscape elements are calculated, and the mean analysis, dispersion analysis and regression analysis are conducted. In order to grasp the landscape characteristics and preference factors, 25 pairs of adjectives are used to conduct the factor analysis. In order to grasp the effects of characteristics of visual factors on the preference, the dispersion analysis and regression analysis are carried out. The results are as follows: From the results of the landscape preference analysis, in the No.22 photo with the top preference, 11 pairs of adjectives, namely, "harmonious-disharmonious", "beautiful-ugly", "rural-urban", "soft-rough", "stable-instable", "romantic-realistic", "cheerful-gloomy", "brilliant-simple", "natural-artificial", "familiar-strange", and "clean-dirty" have positive effects on watery landscape. It can be viewed as the relatively important factor in the visual preference. In terms of the results of visual physical quantity analysis of traditional Chinese Kangnam watery landscape, the landscape with high occupation ratio of buildings and sculptures has positive effects on visual preference. The results of analysis of visual physical quantity and preference show that the preference degree increases as the occupation ratio of footpath area increases. The analysis results of visual characteristics of traditional Chinese Kangnam watery landscape identify four factors, namely psychological factor, cultural factor, condition factor and physical factor. It can be concluded from the results of analysis of the relationships between visual preference and visual characteristics that the return coefficient B of the psychological factor is +0.936. It can significantly affect the watery landscape, so it can be identified as the most important factor among the visual preference factors of Chinese Kangnam watery landscape.

• Journal of the Economic Geographical Society of Korea
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• v.8 no.1
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• pp.153-169
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• 2005

In this study, we analysed the state of the fisheries in Chungnam around 1910 from Hangook Susanji. As a result, there were about 30 ports in the west coast area in Chungnam, and we can classify their locations into 5 types Type I is located in small and mid sized rivers. Type II is located in a costal port. Type III is ports facing the open sea, and type IV is ports in a bay. Type V is ports on islands of coast. Species of fish are porges, mackerels, sting rays, croakers, hairtails, shrimps, etc. The base of fishing porge was Jukdo and Yeondo. The fishing banks of croakers are formed from Chilsantan, Jeonlado to the area of seashore, Chungnam. Hairtails were caught near all the areas of seashore. Salt manufacturing is done near all coasts of Chungnam, Seocheon-bay, Ungcheon-bay, Ocheon-bay, Anmyeon island, Taean, Dangjin area, etc represent this work. Especially, the salt which was produced in Taeangun was so famous that it was called ' Taeansalt'. In the Kum-river area there were 32 fishing villages. Freshwater fish were caught in the upper stream area and the mouth of Geumgang, down stream, was the center for producing Baengeo. There were 23 fishing villages, and the species consisted of croaker, hairtail, Forge, gray mullet, sting ray, sharks, anchovy, shrimps, etc in Biin-bay. The coast of Boryeong had about 33 fishing villages, but their fishing industry was not developed more than their good salt manufacturing. Though there are records that Chunsu-bay had 28 fishing villages, Taean peninsula and Garolim-bay had about 70 fishing villages, and Asan-bay area had about 55 fishing villages, they were developed a little, but not more than Weir fisheries or salt manufacture on the base of salt area and the tideland because these areas were just for farming. South of Anmyeon island of West coast island areas is the biggest area of Stow nets on stakes fishing and the island areas down mouth of Kum river were centers for producing porge.

• The Korean Journal of Financial Management
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• v.25 no.1
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• pp.51-84
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• 2008

We investigate the signaling effect of repurchase preceding new equity issue using Korean data. In a short time span, firms announce stock repurchases and equity offerings. The proximity of two events in Korean firms indicates that those are not independent of each other. In this paper, we test the signaling effect of repurchase on equity offerings on the two measures. One is announcement effect, which is measured as CAR(0, +2). The other is the effectiveness which is measured as CAR(0, +30) because the price movement during this window influences on the price of new issues. Previous studies that stock repurchase convey positive signal to equity offerings-Billet and Xue(2004) and Jung(2004)-construct sample without the limit of time interval between two events. This causes the unclear relation between those because of the long time interval. In this study we consider only samples of being within one year each other to reduce this problem and clarify the signal of repurchase on equity offerings. Korean firms are allowed to repurchase own shares with two different method. One is direct repurchase as same as open market repurchase. The other is stock stabilization fund and stock trust fund which trust company or bank buy and sell their shares on the behalf of firms. Generally, the striking different characteristic between direct repurchase and indirect repurchase is following. Direct repurchase is applied by more strict regulation than indirect repurchase. Therefore, the direct repurchase is more informative signal to the equity offering than the indirect repurchase. We construct two sample firms- firms with direct repurchase preceding-equity offerings and indirect repurchase-preceding equity offering, and one control firms-equity offerings only firms-to investigate the announcement effect and the effectiveness of repurchases. Our findings are as follows. Direct repurchase favorably affect the price of new issues favorably. CAR(0, +2) of firms with direct repurchase is not different from that of equity offerings only firms but CAR(0, +30) is higher than that of equity offerings only firms. For firms with indirect repurchase and equity offerings, Both the announcement effect and the effectiveness does not exist. Jung(2004) suggest the possibilities of how indirect stock repurchase can be regarded as one of unfair trading practices on based on the survey results that financial managers of some of KSE listed firms have been asked of their opinion on the likelihood of the stock repurchase being used in unfair trading. This is not objective empirical evidence but opinion of financial managers. To investigate whether firms announce false signal before equity offerings to boost the price of new issues, we calculate the long-run performance following equity offerings. If firms have announced repurchase to boost the price of new issues intentionally, they would undergo the severe underperformance. The empirical results do not show the severer underperformance of both sample firms than equity offerings only firms. The suggestion of false signaling of repurchase preceding equity offerings is not supported by our evidence.