• Management & Information Systems Review
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• v.22
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• pp.137-165
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• 2007

It seems high time to increase productivity by adopting e-business to overcome challenges posed by both external factors including the appreciation of Korean won, oil hikes and fierce global competition and domestic issues represented by disparities between large corporations and small and medium enterprises (SMEs), Seoul metropolitan and local cities, and export and domestic demand all of which weaken future growth engines in the Korean economy. The demands of the globalization era are for innovative changes in businessprocess and industrial structure aiming for creating new values. To this end, e-business is expected to play a core role in the sophistication of the Korean economy through new values and innovation. In order to examine business performance in e-business-adopting industries, this study analyzed the home shopping industry by closely looking into the financial ratios including the ratio of net profit to sales, the ratio of operation income to sales, the ratio of gross cost to sales cost, the ratio of gross cost to selling, general and administrative (SG&A) expense, and return of investment (ROI). This study, for best outcome, referred to corporate financial statements as a main resource to calculate financial ratios by utilizing Data Analysis, Retrieval and Transfer System (DART) of the Financial Supervisory Service, one of the Korea's financial supervisory authorities. First of all, the result of the trend analysis on the ratio of net profit to sales is as following. CJ Home Shopping has registered a remarkable increase in its ratio of net profit rate to sales since 2002 while its competitors find it hard to catch up with CJ's stunning performances. This is partly due to the efficient management compared to CJ's value of capital. Such significance, if the current trend continues, will make the front-runner assume the largest market share. On the other hand, GS Home Shopping, despite its best organized system and largest value of capital among others, lacks efficiency in management. Second of all, the result of the trend analysis on the ratio of operation income to sales is as following. Both CJ Home Shopping and GS Home Shopping have, until 2004, recorded similar growth trend. However, while CJ Home Shopping's operating income continued to increase in 2005, GS Home Shopping observed its operating income declining which resulted in the increasing income gap with CJ Home Shopping. While CJ Home Shopping with the largest market share in home shopping industryis engaged in aggressive marketing, GS Home Shopping due to its stability-driven management strategies falls behind CJ again in the ratio of operation income to sales in spite of its favorable management environment including its large capital. Companies in the Group B were established in the same year of 2001. NS Home Shopping was the first in the Group B to shift its loss to profit. Woori Home Shopping has continued to post operating loss for three consecutive years and finally was sold to Lotte Group in 2007, but since then, has registered a continuing increase in net income on sales. Third of all, the result of the trend analysis on the ratio of gross cost to sales cost is as following. Since home shopping falls into sales business, its cost of sales is much lower than that of other types of business such as manufacturing industry. Since 2002 in gross costs including cost of sales, SG&A expense, and non-operating expense, cost of sales turned out to have remarkably decreased. Group B has also posted a notable decline in the same sector since 2002. Fourth of all, the result of the trend analysis on the ratio of gross cost to SG&A expense is as following. Due to its unique characteristics, the home shopping industry usually posts ahigh ratio of SG&A expense. However, more than 80% of SG&A expense means the result of lax management and at the same time, a sharp lower net income on sales than other industries. Last but not least, the result of the trend analysis on ROI is as following. As for CJ Home Shopping, the curve of ROI looks similar to that of its investment on fixed assets. As it turned out, the company's ratio of fixed assets to operating income skyrocketed in 2004 and 2005. As far as GS Home Shopping is concerned, its fixed assets are not as much as that of CJ Home Shopping. Consequently, competition in the home shopping industry, at the moment, is among CJ, GS, Hyundai, NS and Woori Home Shoppings, and all of them need to more thoroughly manage their costs. In order for the late-comers of Group B and other home shopping companies to advance further, the current lax management should be reformed particularly on their SG&A expense sector. Provided that the total sales volume in the Internet shopping sector is projected to grow over 20 trillion won by the year 2010, it is concluded that all the participants in the home shopping industry should put strategies on efficient management on costs and expenses as their top priority rather than increase revenues, if they hope to grow even further after 2007.

• The Journal of Small Business Innovation
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• v.20 no.1
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• pp.1-18
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• 2017

This study examined whether divided and spun-off companies design and execute spin-offs to minimize tax burdens by analyzing multiple spin-off transactions in the Dongbu Group, when the Korean tax law regarding corporate restructuring was amended in July 2010. Before the July 2010 tax amendment, taxes on the capital gains arising from the qualifying spin-off were deferred to the earlier of the shares in or assets acquired by the spun-off company are disposed. This tax treatment relieves the divided company's tax burden by deferring taxes on capital gains, compared with non-qualifying spin-offs. However, if shares in or assets acquired by the spun-off company are disposed after the July 2010 tax amendment, the capital gain incurred at the time of the qualifying spin-off would be taxed again at the spun-off company, in addition to a taxation on the divided company's capital gains. This creates double taxation implications for the parties involved in the spin-off. As a result, the double taxation may outweigh the benefit from the tax deferral on the qualifying spin-off, which may make a qualifying spin-off tax unfavorable. Among the four spin-off cases in the Dongbu Group addressed in this study, a spin-off occurred before the tax amendment, whereas three spin-offs occurred after the tax amendment. Initially, we expected that the spin-off before the tax amendment would be a qualifying spin-off, and the other three spin-offs would be non-qualifying spin-offs, considering the taxation rules before and after the July 2010 tax amendment. However, based on the review of summarized balance sheets disclosed in the spin-offs' corporate filings, no capital gains arose during the four spin-offs that occurred in the Dongbu Group. Therefore, we concluded that the Dongbu Group considered non-tax factors more than tax factors while designing and executing the spin-offs. The local media posited during this period that these spin-offs may intend to resolve financial issues in the Dongbu Group, and this analysis was supported by the fact that some shares in the new spun-off companies were sold by the Dongbu Group. Our case studies provide evidence that all costs, including both tax and non-tax costs, must be considered in the course of spin-offs, in addition to the tax burdens on all parties involved in the corporate restructuring, which parallels the work of Scholes et al. (2008). This study provides implications that various aspects should be considered and reviewed in advance when the management makes decisions for effective tax planning.

• Journal of Korean Home Economics Education Association
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• v.33 no.4
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• pp.49-64
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• 2021

Apprenticeship education in Korea started approximately in 2005, and is divided into government-led apprenticeship education and Gyeonggi-do-led apprenticeship education. Apprenticeship education for textile and clothing-related majors in Korea is a very different process compared to Germany, where the country, companies, and schools have cooperated with each other with a long tradition, and there are many points to be supplemented. In order to explore the literature on apprenticeship education in Germany and Korea, and to understand the phenomena or actual conditions that have not been shown in the literature, interviews were conducted with two German professors living in South Korea. As a result of the analysis, Germany's long tradition and positive perception of vocational education are the basis for the establishment of apprenticeship education, and it is positioned as a system of education process. Various associations related to apprenticeship education make systematic training manuals, and then distribute certificates to trainees who have completed these courses. Therefore, companies promote the stability of the job market by educating local talents through apprenticeship training to nurture industrial manpower. Currently, in Korea's apprenticeship education, a series of procedures for developing educational courses such as company discovery and job analysis for each company are entirely entrusted to vocational high schools. Therefore, public confidence and solidity in apprenticeship education were found to be insignificant. This study has limitations in that it cannot confirm a phenomenon that has not been shown in the literature review, there is insufficient research on German literature, and the number of samples interviewed is small. However, if, based on the results of this study, an association dedicated to apprenticeship education is created in Korea and a systematic curriculum is developed, it will be able to contribute to establishing the stability of the textile and apparel labor market in the future.

• Journal of the Korean Society for Marine Environment & Energy
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• v.16 no.1
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• pp.17-24
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• 2013

In order to have market competitiveness in local and global areas, Domestic Marine Leisure Industry business, which is a latecomer in the Marine Leisure industry, should retain a strong market adaptability by reducing time and cost that are required for work of planning, designing, and preparation for product development. To meet above requirements, it is essential that integrated system control extensive marine leisure industry. After ensuring integrated information by figuring out the systematic link between related-industries, the core of this research is to secure information classifications that are not just in the flow of simple serial order, but in that of integration and object-oriented information classifications. For this end, we examine other similar cases in industries using real information system applied to industrial production and Product Lifecycle Management (PLM), Product Data Management (PDM), Digital Manufacturing (DM) and applying the same methodology to review practical application in order to construct the information system, and Work Breakdown Structure (WBS), compared with the case studies. Through this basic task for the marine leisure industry classification system configuration (Work Breakdown Structure, WBS) and utilizing information of driving real companies of marine leisure industry, a unique area of MLWBS (Marine Leisure Work Breakdown Structure, MLWBS) is configured. This Marine Leisure Work Breakdown Structure can be used in various areas of applications like products, design information, engineering, production, purchasing, sales, marketing, AS, utilizing various forms of customer support.

• Korean Journal of Construction Engineering and Management
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• v.15 no.5
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• pp.94-102
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• 2014

This study analyzes necessity of expanding construction insurance and estimates required budget. Construction insurance is obliged by National Contract Law and Local Contract Law to protect projet owners and contractors from any unexpected construction risk such as financial losses in construction process. Currently the contracts of design-build and alternate-bid projects as well as PQ project, which are greater than 20 billion won, require the contractors to provide construction insurances in Korea. Insurance premiums are borne by the public project owner. Those contractors whose contract volume is less than 20 billion won burden all risks of projects at their cost. This causes equity problem. Because small-and-medium contractors are discriminated against large contractors since insurance-obliged projects are performed by large contractors and insurance premiums are borne by the public project owner. On the other hands, in all engineering projects, regardless of volume, insurance premiums are borne by the project owner. Therefore current regulation has to be improved, by expanding to all public projects. The average ratio of unobliged projects is 46%, in recent 3 years, prime cost of insurance companies is estimated 0.2%. Moreover considering risks of each construction type, prime cost of unobliged works is estimated as 0.13%. Hence additional necessary budget is estimated to be 2.09 billion won if total volume of public work is 3.5 trillion won. And 2.39 billion won is derived if total volume of public projects is 4 trillion won.

• Management & Information Systems Review
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• v.29 no.4
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• pp.169-186
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• 2010

This study aims to reveal the ways to sharpen the edges of Korean companies through the relativity analysis between knowledge management and innovational cluster in environmental changes in resent Busan. That is, according to the knowledge management approach, the methods and directions of strengthening industrial competition were established, while the strategy of innovational clusters was suggested as a way of expanding and encouraging knowledge management. The key words of innovational cluster are in this research are the framework of Cluster theory, the importance of innovational cluster, and the change of managerial strategy paradigm. This study provide the several implication for the practice of knowledge management and the researchers. Based on these theories of knowledge management and industrial clusters, their close relationships were analyzed. As a result, industrial clusters were found to be effectively utilized to enlarge and deepen knowledge management. In addition, this suggests the efficient operation guideline of knowledge management. this study indicates both knowledge and innovational cluster should be operated and handled together in the managerial strategy. but this research has limitations in generaling the study result because it collects data from local firms only in Busan.

• Korean Institute of Interior Design Journal
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• v.23 no.6
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• pp.87-94
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• 2014

Today, the growing number of international architects enters the open market of South Korean architecture and interior from exhibition spaces such as art galleries to buildings of major companies. Establishing new local landmarks, their works have a considerable influence on the development of architecture. Among many, French architect Jean-Michel Wilmotte has worked consistently in South Korea. The purpose of this study is to analyze and put together the expression characteristic of the interior design in his exhibition spaces including Gana Art Gallery. Jean-Michel Wilmotte has designed based on the history, culture, society, and arts in France and other European countries, and is influenced by architects like Charles Rennie Mackintosh, Josef Hoffmann, and Carlo Scarpa. Such an influence is shown in the form of contrast between verticality and horizontality as well as the fortification in his modern classical characteristic, which is one of his expression characters. In his work of improving the ancient architecture, Wilmotte is good at creating a modern space through contextual expression, and the textural contrast between materials of the past and the present. Thus I performed an analysis of the expression characteristic of the interior design in National Museum of Contemporary Art of Chiado in Lisbon, Cognac Hennessy Museum in France, Gana Art Gallery in Korea, Mus$\acute{e}$e du Pr$\acute{e}$sident Jacques Chirac in Sarran, France, Ullens Center for Contemporary Art (UCCA) in Beijing, and lastly Mus$\acute{e}$e d'Orsay in Paris. The results show that he maintains the spatial context by applying contemporary design to the preserved existing structure, continues the flow of exhibition through the lightings in the corridors and on the ceiling, and seeks for a balance by adding vertical or horizontal elements to the elevation. In the interior, the staircase and exhibition structure are turned into objects, and the contrasting texture of the wall vitalizes the space. Wilmotte redesigns the space of the past and the present by using indirect joint that allows an organic connection of the old and new structures, and by minimizing the conflict between the two elements through prefabrication. The expression character of his interior design will be potential resources for architects and interior designers to develop their own design languages.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.6 no.2
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• pp.26-33
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• 2007

Social cost has been increased by traffic accident and congestion since early 1990s. The construction of roadways and railways has been suggested as countermeasures. However, ITS has finally introduced as a logical solution because the expenses of infrastructures are costly. The data collection field has developed through numerous researches and pilot projects. However the information provision field does need a lot of study. The traffic information broadcasting whether simple traffic information or the value-added information has been available via radio, television and internet which does not require tremendous investment compared with data collection stage. Therefore, this study reviews the suitability of the gadget service usually offered by window vista users which is the result of the development of technology and the changes of internet environment. It also suggests to using the RSS(Really Simple Syndication) manner as a basic method to provide the traffic information based on the needs of user in order to enhance the usability of traffic information. For this, this study analyzes the current methods and techniques of traffic information service which is widely available by local governments and companies and suggest possible changes and methods in order to provide Gadget-based service to the public.

• Journal of the Korean Association of Geographic Information Studies
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• v.19 no.3
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• pp.114-126
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• 2016

Domestic risk factors that are thought to be correlated with highly pathogenic avian influenza (HPAI) outbreak are migratory birds and moving objects such as poultry farm vehicles. In particular, the commercial vehicles that routinely circulate the local and/or remote poultry farms produce are thought to be major HPAI risk factors in South Korea. In this study, the driving histories of the vehicles belonging to poultry farms and/or commercial companies registered in the Korea Animal Integrated System (KAHIS) were analyzed using statistical and social networking tools in a Geographic Information System (GIS) in order to understand the pattern of the HPAI (H5N8) outbreak that occurred in 2014 in South Korea. Based on the 2014 HPAI outbreak patterns, HPAI-infected poultry farms were categorized according to geological features. The HPAI-infected poultry farms were categorized as 'regional-accumulation', 'regional-distribution', 'metropolitan-accumulation', 'metropolitan-distribution' and 'national-distribution' in endemic or non-endemic regions. We were able to categorize most HPAI-infected poultry farms into the five proposed categories, but further studies are required to categorize all such farms. Based on this categorization system, we propose efficient but economical prevention boundaries in South Korea. We strongly believe that our research could hugely impact government decisions to estimate the prevention area.

• Journal of the Economic Geographical Society of Korea
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• v.6 no.1
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• pp.45-60
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• 2003

As the process of economic globalization deepens market uncertainty and severe competition, modern companies are tend to rely on non-market, socio-economic mechanisms such as trust, collaboration, and interdependence, They are being more influenced by cultural economic mechanisms like networks, embeddedness, and placeness rather than explicit cost-reductions. This paper analyzes the characteristics of industrial clusters, the formation of social capital, and the process of institutionalization by comparing two distinctive types of clusters, say Teheran and East-Gate Valleys in Seoul, Korea. The one is mainly consisted of IT industries with increasing vertical integration supported by venture capitals and favorable business infrastructures. The other cluster has long been a traditional CBD frame of Seoul and has transformed to the most dynamic and productive area, characterized by one-stop 'R&D-production-distribution-consumption-after sales services'. The study of the developmental trajectory and key characteristics for these kinds of clusters can give us insight for the cluster theory. This paper firstly reviews the similarities and differences between the social capital in general and that of industrial clusters. It then profiles the growth of the two clusters over the past decade, and compares the current spatial and business structure of the two clusters, focusing on transactions costs, the creation and flow of information, and the local institutions. The paper concludes with some comments about the prospects and perils of the two types industrial clusters of Seoul.