• Journal of Auto-vehicle Safety Association
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• v.13 no.3
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• pp.95-101
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• 2021

The Korea's safety standards for vehicle have been strengthened to reduce casualties from traffic accidents since 1962. The standards have a rather complicated structure. The safety standards are composed of the main text and asterisks, and the safety standard implementation rules are composed of the main text, asterisks and appendices, and items of the same name are stipulated in other chapters within the safety standards. This study is to suggest improvement measures such as simplifying the structure of these safety standards and integrating safety standard items with the same name. Through this, users' understanding of the standards will be improved, and it is expected that the system will be more efficient such as securing safety quickly through harmonization with international standards following the development of rapidly changing new technologies such as automated vehicles.

• The Journal of the Korea Contents Association
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• v.20 no.11
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• pp.281-291
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• 2020

This study used Gauss-Poisson jump diffusion process on standard assets to estimate the statutory reserves of Variable Annuity (VA) guarantees specified in Korean bylaw of insurance supervision and calculated guarantee fees and risks based on the model to see the effect of considering the jumps. Financial assets, except KOSPI 200, have fat-tailed return distributions, which is an indirect evidence of discontinuous jumps. In the case of a domestic stock index and foreign stock indexes(Korean Won), guarantee fees and risks decrease when jumps are considered in models of underlying assets. This is explained by decreases in standard deviations after the jump diffusion is considered. On the other hand, in the case of domestic bond indexes and a foreign bond index(Korean Won), guarantee fees and risks tend to increase when jumps are considered. Results from a foreign stock index(US Dollar) and a foreign bond index(US Dollar) were opposite to those from the same kinds of Korean Won indexes. We conclude that VA guarantee fees and risks may be under or over estimated when jumps are not considered in models of underlying assets.