• The Korean Journal of Applied Statistics
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• v.30 no.6
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• pp.917-929
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• 2017

Korean income data obtained from Korea Labor Panel Survey shows excessive zeros, which may not be properly explained by the Tobit model. In this paper, we analyze the data using a zero-inflated Tobit model to incorporate excessive zeros. A zero-inflated Tobit model consists of two stages. In the first stage, individuals with 0 income are divided into two groups: genuine zero group and random zero group. Individuals in the genuine zero group did not participate labor market since they have no intention to do so. Individuals in the random zero group participated labor market but their incomes are very low and truncated at 0. In the second stage, the Tobit model is assumed to a subset of data combining random zeros and positive observations. Regression models are employed in both stages to obtain the effect of explanatory variables on the participation of labor market and the income amount. Markov chain Monte Carlo methods are applied for the Bayesian analysis of the data. The proposed zero-inflated Tobit model outperforms the Tobit model in model fit and prediction of zero frequency. The analysis results show strong evidence that the probability of participating in the labor market increases with age, decreases with education, and women tend to have stronger intentions on participating in the labor market than men. There also exists moderate evidence that the probability of participating in the labor market decreases with socio-economic status and reserved wage. However, the amount of monthly wage increases with age and education, and it is larger for married than unmarried and for men than women.

• Korean Journal of Construction Engineering and Management
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• v.16 no.6
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• pp.3-11
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• 2015

The current real estate market is in a state that is considerably shrink due to the recession and long-term reduction of trading. In response, the government recently announced an innovative way for the middle-class residential housing and it is taking the lead to activate the real estate market. Meanwhile, the domestic housing market is entering a transition period, including structural changes of household structure, changes from joeonse to rent increasingly. Also single-member households will rise steeply, so that makes the high demand of small houses. In addition, the domestic construction industry is interested in new technology called Modular building. The Modular construction is an off-site construction system that shorten construction period, eco-friendly building technology and mobility etc, which can be used in various field. Overall, there are two major issues of the current market, one is the change of the real estate market, and the other is the modular construction. This study will propose modular business model in the rental market through the analysis the profitability of the modular business scenarios and IRR analysis.

• 한국사회정책
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• v.25 no.4
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• pp.71-104
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• 2018

This paper adopts a distributive performance process model of in-work poverty based on labor markets, households, and welfare states and analyzes the 4-11 waves of the Korean Welfare Panel Study during 2008-15. Previous studies on in-work poverty have focused on the definitions and concepts of in-work poverty by analyzing employment and unemployment persistence and repetition dynamics, but rarely paid attention to institutional distributive performance. In this regard, this study preforms a stepwise analysis of labor markets, households, and welfare states as a process of income generation in labor markets, satisfaction of welfare needs and income pooling at households, and deduction of social security contribution and income tax as well as receipt of public transfer income at welfare states. Results of empirical analysis show that in-work poverty had been on increase during 2008-11, followed by a decrease between 2012-15. At labor market stages, full time status had the most prominent impact on in-work poverty process, while status by employment and contract type have generated a huge variation as well. At household stages, household work intensity and number of earners contributed to reduction of in-work poverty, but the relations did not seen to be straightforward. However, welfare state played little role in lifting employees out of in-work poverty. In terms of institutional distributive process, in-work poverty was prevalent in either household-welfare state stage or labor market-household-welfare stage. Non-vulnerable group in terms of in-risk poverty was around 80% of the sample during the period of analysis, the size of which has remained constant.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.19 no.5
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• pp.25-32
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• 2019

The purpose of this study is to investigate how to make a proper investment in ICO in the market. Previously, companies used to borrow money from banks or to obtain investments from venture capital (VC) and angel investors, but now ICOs are used as a new type of funding and financing model. The ICO sells the tokens or coins created on the blockchain openly online to raise the necessary funds, and provides the market value by paying the tokens or coins as much as the investment amount. According to this study, the limitations of the ICO market are (1) difficulties in evaluating the company, (2) uncertainties in investments, (3) lack of legal safeguards, and (4) measures to secure corporate stability after recruitment. At present, there is no way to cope with this systematically since the ICO is not protected in the legal framework. Nevertheless, we investigated the ways to make proper investment in the existing ICO market. In investing in ICO, investors should (1) consider investment methods and profitability, and (2) verify and judge investment fraud through various channels (ex. Homepage, composition team profile, etc.) and make investments based on this. This study will contribute to the formation of a healthy ICO market by understanding the newly emerged ICO market and studying the considerations when investing in it, thereby contributing to the right investor training and reducing the mass production of consumer damages caused by fraud. The limitation of this study is that the domestic ICO has not yet been examined in the legal framework, so further research is needed when policy changes occur in the future.

• Korean Journal of Labor Studies
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• v.23 no.1
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• pp.129-164
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• 2017

This article is an exploratory study on the recent growth of short-hours part-time work in Korea. The short-hours part-time work has been rapidly growing among low-educated women over sixty, particularly among bereaved or divorced women, contrary to the expectation of the government that encouraged the part-time work by means of work-family balance for working mothers or middle-aged women who experienced career interruption. The short-hours part-time jobs are concentrated in social service industry, mostly elderly care service jobs, and their working conditions are extremely poor, mostly low-wage jobs with no social insurances except for health insurance. In this study, we discuss why the short-hours part-time work has grown so fast in Korea since the mid 2000s. Using various governmental statistics, we examine the effects of the labor demand and supply situations during the time period, the legal context that is related with the exempt clause of the labor law, and the institutional context related with the government's public job creation projects for the elderly. We suggest some public policies needed to slow down the growth of the short-hours part-time jobs and to elevate their working conditions.

• Korean Association of Arts Management
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• no.57
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• pp.33-58
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• 2021

The purpose of this study is to understand the impact of the subscription economy on the contemporary art market in terms of creation, consumption and distribution of artwork. To accomplish the aim of this study, we conducted a case study of Artnomic Gallery K borrowing the theoretical perspective from Alexander(2003)'s Modified Cultural Diamond model. In this paper, we collected data through reviewing the secondary document and conducting in-depth interviews with 10 experts and consumers in the art market. As a result, the subscription economy eases the traditional art trade, which is heavily focused on a small number of market arts, by encouraging artists to create various works. The transition to subscription in the purchase of art contributes to lowering the barriers to entry into the art market by reducing the financial burden on consumers in terms of consumption. In terms of distribution, this founding of this article shows that the experts of Gallery K are the main actors in selecting the works that consumers subscribe to. Therefore, in this study, it is of academic significance to discuss that the filtering effect of the distribution system emphasized by Alexander(2003) is effective even in the art trading system to which a new form of economic activity - the subscription economy - is applied.

• Journal of Korea Port Economic Association
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• v.40 no.1
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• pp.151-163
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• 2024

This study sought to confirm the impact of analytical methods and behavioral economic theory factors on decision-making when making chartering decisions in the dry bulk shipping market. This study on chartering decision-making model was began to verify why shipping companies do not make rational decision-making and behavior based on analytical methods such as freight prediction and process of alternative selection in the same market situation. To understand the chartering decision-making model, it is necessary to study the impact of behavioral economic theory such as heuristics, loss aversion, and herding behavior on chartering decision-making. Through AHP analysis, the importance of the method factors relied upon in chartering decision-making. The dependence of the top factors in chartering decision-making was in the following order: market factors, heuristics, internal factors, herding behavior, and loss aversion. Market factors, heuristics, and internal factors. As for detailed factors, spot freight index and empirical intuition were confirmed as the most important factors relied on when making decisions. It was confirmed that empirical intuition is more important than internal analysis, which is an analytical method. This study can be said to be meaningful in that it academically researched and proved the bounded rationality of humans, which cannot be fully rational, and sometimes relies on experience or psychological tendencies, by applying it to the chartering decision-making model in the dry bulk shipping market. It also suggests that in the dry bulk shipping market, which is uncertain and has a high risk of loss due to decision-making, the experience and insight of decision makers have a very important impact on the performance and business profits of the operation part of shipping companies. Even though chartering are a decision-making field that requires judgment and intuition based on heuristics, decision-makers need to be aware of this decision-making model in order to reduce repeated mistakes of deciding contrary to market situation. It also suggests that there is a need to internally research analytical methods and procedures that can complement heuristics such as empirical intuition.

• Korean Architects
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• no.1 s.333
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• pp.67-107
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• 1997

과거에 일부 대형 프로젝트를 중심으로 국내 설계사무소와 공동설계 형식으로 행해지던 외국설계사무소의 국내진출이 최근에 급격히 증가하고 있다. 그러나 대부분의 경우 공동설계 작업이라 하더라도 외국설계사무소가 계획설계(디자인)를 주도하고 국내사무소는 실시설계(실시도면 작성, 법규검토, 허가 등)를 맡아하는 역할분담하에 설계작업이 이루어지고 있으며, 또 이와는 다르게 여러 형태로 외국건축가가 국내설계에 참여하고 있는 실정이다. 이에 대해 일부에서는 한국건축의 현실과 정체성이 무시된 채 여러가지 모순점을 드러내고 있는 현재의 공동설계방식은 한국건축의 대외 종속화를 부추긴다는 우려의 목소리 또한 적지 않다. 이와 같은 상황에서 본지는 이번 특집을 통해 외국건축 설계사무소와의 공동설계 작업의 실상과 문제점을 진단하고 나아가 건축시장개방에 따른 공동설계의 바람직한 방향을 모색코자 한다. 다만, 이번 특집으로 시장개방에 따라 더욱 증가할 것으로 예상되는 외국 설계사무소와의 공동설계 작업에 대한 명확한 결론을 기대하기 보다는, 좀 더 정확한 핵심을 짚어내고 또한 우리가 처한 현실적ㆍ현재적 당면과제들을 풀어나가는데 있어 건축계내의 다양한 의견을 전달함으로써 국제화의 흐름속에서 한국건축문화의 바람직한 방향을 찾는 활발한 논의를 증폭시키는 계기가 되었으면 한다. 아울러 본지에서는 외국건축설계사무소와의 설계공동 작업에 대해 지속적인 관심을 가지고 2회에 걸쳐 기획특집으로 다루고자 하며 이번호에 다룬 '문제점과 개선방향'에 이어 다음호(97년3월호)에는 좀 더 핵심적인 부분을 심층적으로 다루고자 '당면과제와 바람직한 방향'이라는 주제로 좌담을 개최할 예정이다.

• KIPS Transactions on Software and Data Engineering
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• v.4 no.4
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• pp.169-176
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• 2015

Recently smartphone market is rapidly growing and application market has also grown significantly. Mobile applications have been provided in various forms, such as education, game, SNS, weather and news. And It is distributed through a variety of distribution channels. Malicious applications deployed with malicious objectives are growing as well as applications that can be useful in everyday life well. In this study, Events from a malicious application that is provided by the normal application deployment and Android MalGenome Project through the open market were extracted and analyzed. And using the results, We create a model to determine whether the application is malicious. Finally, model was evaluated using a variety of statistical method.

• Proceedings of the Safety Management and Science Conference
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• 2009.04a
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• pp.455-475
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• 2009

According to the returns of Housing and business cycle over the period 1992 to 2007, it is a measure of the total volatility faced by investors in Housing properties. First, it isn't a distinct difference from business cycle contrary to U.S. Second, the rise of purchase price in total apartments moves up the consumer price index. According to the cross-sectional dispersion of returns and growth in net operating income (NOI) of apartments, industrial, retail and office properties using panel data for U.S. metropolitan areas over the period 1986 to 2002, it is a measure of the total volatility faced by investors in commercial real estate. To the extent that most of that volatility is difficult to diversify, cross-sectional dispersion may be an appropriate measure of risk.