• Title, Summary, Keyword: Region innovation policy

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Financial Ecosystem Development for Venture Capital Activation in Daejeon, Korea (대전지역 벤처창업 활성화를 위한 벤처 자금생태계 개선방안)

  • Choi, Jong-In;Bae, Kang
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.13 no.6
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    • pp.39-48
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    • 2018
  • Despite the fact that Daejeon has excellent technology infrastructures such as government-funded research institutes, Daedeok Innopolis, and KAIST, the infrastructure for initial investment and growth support for technological start-ups is not sufficient. In particular, the amount of venture capital supply in Daejeon is relatively low compared to other innovation infrastructures. The purpose of this study is to suggest the implications of the venture capital ecosystem in Daejeon area through the analysis of what evolution process has been undergoing and what improvements and complementary points are needed in the future. First, the role of public finance system should be strengthened in order to stimulate angel investment and private capital inflows to start-up companies. Second, in order to cultivate investment professionals in the region, it is necessary to grant local funds to local institutions, and to run investment expert training courses in universities. Third, cooperation between related agencies is needed to add accelerator functions to existing incubators and to foster new accelerators. Fourth, in order to expand the role of local governments, it is necessary to establish funds, to open innovation mindset of public officials, and to communicate effectively with the central government. Fifth, basic venture ecosystem infrastructures such as inflow of excellent manpower, prevention of technology deception, improvement of rechallenge environment should be expanded. Sixth, it is necessary to reorganize the step-by-step start-up financing policy of 'Establishment - Growth - Exit - Rechallenge'. This study is meaningful in that it has grasped the current status of venture start-up financial ecosystem in Daejeon, which is changing rapidly. In particular, it is different in that it identifies financial difficulties venture companies in Daejeon and finds ways to utilize existing financial ecosystem efficiently.

The Effect of Real Exchange Rate Depreciation Shock on Productivity and Employment for Manufacturing Firms in Daegu-Gyeongbuk Region (실질환율 충격이 대구·경북지역 제조업체 생산성 및 고용에 미치는 파급효과 분석)

  • Pyun, Ju Hyun;Won, Ji Hwan
    • Journal of the Korean Regional Science Association
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    • v.32 no.1
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    • pp.27-49
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    • 2016
  • This study examines the effects of real exchange rate (RER) depreciation shocks on firm-level productivity and employment in Daegu-Gyeongbuk manufacturing industries during 2006-2012. In particular, the study focuses on a sharp and persistent RER depreciation of the Korean Won from 2007 to 2009, which is a situation akin to a natural experiment in Korea. We find that RER depreciation has positive effects on productivity for firms with high export exposure in foreign markets. However, these effects disappear when RER depreciation persists. In addition, we do not find evidence that RER depreciation affects employment of Daegu-Gyeongbuk firms significantly. Firms in Daegu-Gyeongbuk region should pursue core competency to obtain international competitiveness rather than depending on temporary better price condition driven by RER depreciation. Further, policy makers in a local government should provide firms with financial and investment support to encourage innovation and R&D.

Analysis on the Effect of Regional Characteristics and Housing Market Characteristics on Population Growth (지역 및 주택 시장 특성이 인구 증가에 미치는 영향 분석)

  • Oh, Sang-Ho;Suh, Jeong-Yeal
    • Journal of Cadastre & Land InformatiX
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    • v.49 no.1
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    • pp.123-144
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    • 2019
  • The purpose of this study is to grasp factors the increasing population growth rate of the region through the regional and housing market characteristics. This paper has used multiple regression as the dependent variable (average of the population growth rate of 85cities during the last five years) and the independent variables analyzed the regional and housing market characteristics on the average. The results of the analysis, The regional and housing market variables that have had a significant impact on the regional population growth rate over the last five years are birth rate, employment rate, production available population growth rate, apartment rate, resale rights rate, and apartment turnover rate and the number of businesses per thousand and has decreased. In other words, The regions where the population increased by region for the last five years were the ones with the transfer of public institutions (innovation cities) and land development among the Seoul metropolitan area and non-Seoul metropolitan area excluding Seoul and metropolitan cities. The results of this study is intentional to suggest Policy point of view for the balanced regional development presented at the government level for other the metropolitan area, such as the small and medium cities that are undergoing population decline.

Innovation Technology Development & Commercialization Promotion of R&D Performance to Domestic Renewable Energy (신재생에너지 기술혁신 개발과 R&D성과 사업화 촉진 방안)

  • Lee, Yong-Seok;Rho, Do-Hwan
    • Journal of Korea Technology Innovation Society
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    • v.12 no.4
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    • pp.788-818
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    • 2009
  • Renewable energy refers to solar energy, biomass energy, hydrogen energy, wind power, fuel cell, coal liquefaction and vaporization, marine energy, waste energy, and liquidity fuel made out of byproduct of geothermal heat, hydrogen and coal; it excludes energy based on coal, oil, nuclear energy and natural gas. Developed countries have recognized the importance of these energies and thus have set the mid to long term plans to develop and commercialize the technology and supported them with drastic political and financial measures. Considering the growing recognition to the field, it is necessary to analysis up-to-now achievement of the government's related projects, in the standards of type of renewable energy, management of sectional goals, and its commercialization. Korean government is chiefly following suit the USA and British policies of developing and distributing renewable energy. However, unlike Japan which is in the lead role in solar rays industry, it still lacks in state-directed support, participation of enterprises and social recognition. The research regarding renewable energy has mainly examinedthe state of supply of each technology and suitability of specific region for applying the technology. The evaluation shows that the research has been focused on supply and demand of renewable as well as general energy and solution for the enhancement of supply capacity in certain area. However, in-depth study for commercialization and the increase of capacity in industry followed by development of the technology is still inadequate. 'Cost-benefit model for each energy source' is used in analysis of technology development of renewable energy and quantitative and macro economical effects of its commercialization in order to foresee following expand in related industries and increase in added value. First, Investment on the renewable energy technology development is in direct proportion both to the product and growth, but product shows slightly higher index under the same amount of R&D investment than growth. It indicates that advance in technology greatly influences the final product, the energy growth. Moreover, while R&D investment on renewable energy product as well as the government funds included in the investment have proportionate influence on the renewable energy growth, private investment in the total amount invested has reciprocal influence. This statistic shows that research and development is mainly driven by government funds rather than private investment. Finally, while R&D investment on renewable energy growth affects proportionately, government funds and private investment shows no direct relations, which indicates that the effects of research and development on renewable energy do not affect government funds or private investment. All of the results signify that although it is important to have government policy in technology development and commercialization, private investment and active participation of enterprises are the key to the success in the industry.

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Conceptualizing the Engagement of Universities in Regional Development in a Knowledge-based Society (지식기반사회에서 대학과 지역발전의 관계: 진화론적 관점)

  • Nam, Jae-Geol;Lee, Jong-Ho
    • Journal of the Economic Geographical Society of Korea
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    • v.13 no.1
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    • pp.19-38
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    • 2010
  • Following the emergence of a knowledge-based economy, the role of universities in regional development has been re-evaluated through considering localized interactive learning processes. This paper tries to identify the role of universities for regional development and the variables effecting on their localized engagement in regional development. We argues that universities cannot be viewed as a single angle, because the behaviors of a university are influenced by the degree of their independence from regional and national governments. Likewise, the contributions of universities to their regional development can be differential depending on the organizational characteristics of individual universities, the social, political, and economical contexts of a given region and nation, and complex relations between and within universities and other regional stakeholders. These variables can be both the drivers and barriers when each university responds to regional needs. Based on the literature review, we suggest that the explanatory factors of shaping the engagement of universities in regional development can be classified into four categories: the characteristics of individual universities, the national context, the local and regional context, and the policy context.

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Three Hypothesis Tests for Determinants of Business Start-up (산업별 창업 결정요인의 세 가지 가설 검증, 2008-2014년)

  • Lee, Changkeun
    • Journal of the Korean Regional Science Association
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    • v.33 no.1
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    • pp.17-27
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    • 2017
  • The purpose of this study is to analyze the determinants of start-ups by industry based on the theoretical background of entrepreneurship. For this purpose, regional industrial structure and local labor market structure are considered in order to focus on regional factors in addition to economic factors, income factors, and technological innovation factors. As an analyzed result, three theories of entrepreneurship generally agree with the determinants of industry - specific entrepreneurship. During the economic recession, the number of start-ups has increased. The intra-regional consumption and the local government expenditure per capita have also positive effects on the start-up. The incubation center has a positive effect on the start - up in the manufacturing sector. Therefore, the academic-industrial leading various incubation facilities should be activated in addition to the central or local government leading incubation centers, which is a part of the policy to support start-ups of central and local governments. In addition, population growth is a very important factor in terms of potential demand creation, and the characteristics of regional industrial structure and the effect of human capital within the region differ by industry. In the case of the manufacturing industry, the accumulation effect positively influences the start-up of the industry. In other service industries, the human capital variable had the greatest effect on the start-up when all other conditions are constant.

Spatial Structure of Hinterlands and Forelands of Pusan Container Export Port: the Cases of 3 National Flag Carriers (부산 컨테이너 수출항의 배후지와 지향지의 공간구조)

  • Cho, Su-Kyung
    • Journal of the Korean Geographical Society
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    • v.28 no.3
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    • pp.247-267
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    • 1993
  • According to developing international economy since the World War II, the increase and competition of the national business is so empha-sized tht both the interest and the necessity about marine transportation playing the impor-thant role of international transportation are increased. Today, the container transportation, as called the innovation of marine transport has been prevailed since the 1970's. The purpose of this paper is to grasp the spatial structure of the hinterlands and forelands, its object is export container cargo at Pusan Export Port, as known for the transportation node of modern containerlization. In this study, for the purpose of grasping the relation between hinterlands and forelands of Korean export container cargo, first, I researched the transition of carloading about container cargo, the bistribution channel of cargo, the change of the items of container and the carlo-adings about transport route, secondly, I used the cluster analysis so as to group hinterlands according to the items of goods and forelands. The object of the analysis is container cargo of Choyang Line, Hanjin Shipping and Hyundai Merchant Marine of National Frag Carriers. The source materials used in this study are Trucking Data of Hanjin Co., Container Ren-tal Data of Samik Transport Co. and Transpor-ting Present Condition Tables of Hyundai Mer-chant Marine. 1. There are two kinds of the transport classi-fied by its form: FCL and LCL. In Pusan Con-tainer Export, a lot of textile goods, clothings and furniture, compound, electric goods, and so on are dealed with but the rate of occupation of the transport is getting lower while that of occupation of equipment, papers and agricultu-ral, mineral and livestock industry higher. 2. In 1990, the transports of container cargo in Korea consist of 7 services and round-the world lines. We can list North America lines, East-South Asian lines, Japan lines and Inter European lines, in order of the quantity of tran-sport form the largest to the smaller. We can have another list that Japan lines, North Ame-rica lines and East-South lines in order of the rate participation of national flag carriers, be-cacuse Korean foreign trade lay disproportionate emphasis on East-South Asian lines. Japan lines among them is the biggest import-export market. Since the rationlization policy of marine tran-sport in 1984, each of national flag carriers have its own lines. Hanjin Shipping predominates over North America lines, Choyang Line over New Zealand, Inter European and Austria lines and Hyundai Merchant Marine over Center-South America lines, in terms of the volume of transport. And small-to-medium sized shippers are prevailing in lines which are adjacent to Korea, Such as Japan lines and East-South Asian lines. 3. In relation to hinterlands and forelands of Choyang Line, the light industry goods, electric goods and machinary produced in Seoul and Pusan are exported to the major ports in Europe and Japan, the same produces in Suwon, Ulsan, Kumi are exported to European Ports, and those in Incheon and Kwangju Austrian and Japanese ports, and those in the rest regions to the major port in Japan. 4. In relation to hinterlands and forelands of Hanjin Shipping, the light industry goods pro-ducing in Seoul and Pusan, the electric goods and machinary in Incheon and Pyeongteck, are exported to New York and Los Angeles. Electric goods and machinary Masan, Anyang, Cheona, Cheongju and Incheon, Electric goods machinary and light industry goods in Kwangju and non mental goods in Pohang, are exported New York, Los Angeles and Oakland. 5. In relation to hinterlands and forelands of Hyundai Merchant Marine, the region of Seoul, Pusan and Incheon closely related with the main ports in U.S.A. The rest regions with Montreal. The hinterlands of export container cargo can be classified by its export items into three kinds: the large city, industrial city and the rest city. Choyang Line's forelands are European lines, Japan lines and Austria lines, and Hanjin Shipping's forelands are North America lines, and Hyundai Merchant Marine's forelands are North America lines and Japan line. 3 National flag carriers' major forelands are determined by the size of port and the shipper's convenient use of the port terminal.

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