• KDI Journal of Economic Policy
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• v.14 no.4
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• pp.27-49
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• 1992

This paper stresses the role of market fundamentals rather than bubbles in explaining Korea's recent experience of large fluctuations of stock and real estate prices. The bubble story that emphasizes the self-fulfilling prophecies of investors seems to be inappropriate to explain the recent changes of assets prices in Korea. Those who argue for bubble phenomenon in Korea tend to interpret the volatile movements of assets prices as some form of bubbles, but without implementing a rigorous test on the presence of bubbles. Even when some bubble tests are carried out, such studies exhibit various econometric problems in testing. More seriously, they suffer from the misspecification problems in setting up a market model. This paper has shown that Korea's recent changes in assets prices could be explained by changes in market fundamentals according to the emergence and the subsequent fading of 'three lows'. First, it tried to explain changes in assets prices by changes in such market fundamentals as real interest rates and economic growth. Second, it showed that the real estate prices overshoot when the liquidity and exchange rates change, using the two-sector general equilibrium portfolio balance model. It is argued that the rapid rise in real estate prices during 1986-89 stems from Yen's and Won's appreciation $vis-{\grave{a}}-vis$ the U.S. dollar and liquidity expansion (or decreases in real interest rates), while the downturn in real estate prices since 1990 is associated with Yen's and Won's depreciation $vis-{\grave{a}}-vis$ the U.S. dollar and rises in real interest rates in reflection of the excess demand for liquidity.

• The Journal of the Korea Contents Association
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• v.10 no.2
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• pp.286-294
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• 2010

This study was performed to identify the cerebral network associated with sensation through the tickling stimulation, which is distinctive from the rest of other networks processing normal stimulation and to investigate the difference of laughing mechanism which is closely related to tickling using functional MRI(fMRI). A 16 healthy volunteers (mean age: 28.9) on a 3.0T MR scanner during two sensation conditions. Counterbalanced stimulus were presented across the participants, and the stimulation was used block design. Acquired data was analyzed by the statistical parametric mapping (SPM 99). Subject and group analysis was performed. Individual analysis showed the activation of somatic sensation area in both tasks and the tickling sensation test showed more activated area in the Wernicke's area(BA40) compared to the normal sensation. The group analysis result shows that under normal stimulations, both sides of somatosensory cortices(BA 1,2 and 3) were activated and under tickling stimulation, not only the cortices but also those huge activation on thalamus, cingulate gyrus and insular lobe were detected. When the tickling was stopped, significant activations were shown in right cingulate gyrus, left MFG area and left insular lobe. A cerebral area responsible for recognizing tickling sensation was examined and the primitive stimulation such as tickling is much closely related to laugh, which is an important factor for various social activities.

• The Korean Journal of Financial Management
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• v.9 no.1
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• pp.223-262
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• 1992

This paper develops a theory of the demand for insurance. The present model incorporates insurance demand time value of insurance premium, and demand for listless and risky assets simultaneously within the expected utility framework. For a special case of CARA, an insurance decision can be made separately from other portfolio decisions. However, in general, the interactions of both decisions cannot be ignored even when insurable and speculative risks are stochastically independent. In particular, the role of risky investment in hedging insurable risk is demonstrated and it is shown that this role cannot be duplicated by an insurance contract. When the investment decision is made simultaneously with the insurance decision, some of the classic theory on insurance should be modified. As an example, the authors characterize the sufficient conditions, under which the Bernoulli criteria (without and with premium loadings) hold or are violated in terms of the net gain of risky investment, the net cost of insurance, and the stochastic relationship between insurable and speculative risks. The authors interpret the results using the Rothschild and Stiglitz's (1970) notion of 'increase in riskiness'.

• The Korean Journal of Air & Space Law and Policy
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• v.23 no.1
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• pp.33-54
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• 2008

The damage to the third parties caused by aircraft in flight shall be fully compensated to the extent that the damage didn't occur unless the damage is caused by innocent victims. However, related international Conventions limit operator's liability of compensation to certain levels, which is one of the main reasons that such international Conventions have not been ratified by many aviation leading States. However, international community has agreed, since 9/11, that the accidents caused by terrorists and the protection of the third parties need to be addressed more actively. And the amendment of the related Rome Conventions has been drafted under the ICAO leadership by the special committee that was organized to modernize the related international Conventions. This study addresses the issues related to the draft Conventions, the draft Convention for Damage caused by Aircraft to Third Parties, in case of Unlawful Interference and the draft Convention on compensation for Damage caused by Aircraft to Third Parties. It is expected that it takes considerable time to reach an agreement on all the issues from appropriate apportionment of liability between the government and operator to the details regarding the management of Supplementary Compensation Mechanism. Under the circumstances where the needs for the air transportation as well as threats of terrorism increase, the new international Convention should be prepared taking into consideration the balance between the protection of the innocent third parties and that of air transport industry including air carriers. Along with this, the Republic of Korea should actively participate in the process of amendment to the related international Conventions to protect the life and property of the people from anticipated damages.

• Journal of the Korean Society of Food Science and Nutrition
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• v.26 no.4
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• pp.726-732
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• 1997

The purpose of this study is to develop a software program to diagnose and assess status of dietary intake obtained using 24-hour dietary recall method. This program consist of four functions. The first function is assessing tile general status of the body such as ideal body weight, obesity measure, activity expenditure energy and total energy requirement by the analysis of age, height, weight and the degree of activity. The second one is calculating the intake number of food classified by the food group and evaluating the status of food intake by comparing them with the number of standardized intake in recommended dietary allowances for Koreans,6th revision. Third one is calculating energy and nutrient intakes contributed by the food group in dietary intake and evaluating the status of dietary intake by comparing the nutrient intake with the recommended dietary allowance for Korean, especially calculating and evaluating the status of dietary fat intake. The fourth function is calculating and evaluating the status of nutrient intake and nutrients energy Percent contributed by three regular meals and at least one in-between-meal snack. The results are displayed as tabular forms and graphical forms on the computer screen.

• Environmental and Resource Economics Review
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• v.30 no.3
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• pp.395-433
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• 2021

This paper aims to examine the effects of homeownership and residential types on the economic values of urban green spaces. Green open spaces as public goods provide positive externalities that are comprised of pecuniary and technological externalities. Seoul, South Korea, is used as a case study using choice experiments, with split-sample online respondents of 1,000. The study results evidenced that the differentiation between the two types of externalities is imperative for equitable provisions and efficient management of various urban open spaces. There is a positively significant and substantial impact of homeownership for apartment dwellers, ceteris paribus, but not for house dwellers. For apartments, the efficiency loss can be reduced by increasing green spaces up to the critical point where the marginal cost is at equilibrium with tenants' marginal values. For non-apartment houses, it is not homeownership but the monthly household income that has a significant impact on the amenity value. In general, public benefits from green spaces are equivalent to 16% to 33% of the current residential prices on average for a view or access. Different residential types do not cause a significant impact on the access values. Residential profiles for green spaces were developed, together with tailor-made policy suggestions.

• 재활복지
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• v.21 no.3
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• pp.129-146
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• 2017

In an event of an emergency, such as fire in a building, visually impaired and blind people are prone to exposed to a level of danger that is greater than that of normal people, for they cannot be aware of it quickly. Current fire detection methods such as smoke detector is very slow and unreliable because it usually uses chemical sensor based technology to detect fire particles. But by using vision sensor instead, fire can be proven to be detected much faster as we show in our experiments. Previous studies have applied various image processing and machine learning techniques to detect fire, but they usually don't work very well because these techniques require hand-crafted features that do not generalize well to various scenarios. But with the help of recent advancement in the field of deep learning, this research can be conducted to help solve this problem by using deep learning-based object detector that can detect fire using images from security camera. Deep learning based approach can learn features automatically so they can usually generalize well to various scenes. In order to ensure maximum capacity, we applied the latest technologies in the field of computer vision such as YOLO detector in order to solve this task. Considering the trade-off between recall vs. complexity, we introduced two convolutional neural networks with slightly different model's complexity to detect fire at different recall rate. Both models can detect fire at 99% average precision, but one model has 76% recall at 30 FPS while another has 61% recall at 50 FPS. We also compare our model memory consumption with each other and show our models robustness by testing on various real-world scenarios.

• Journal of Technology Innovation
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• v.27 no.1
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• pp.45-77
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• 2019

The balance between exploration for new possibility and exploitation for existing certainty is an important issue in strategy, innovation, R&D as well as organization learning. Among the convergence trends of technologies, many firms seek to have the wider technological knowledge assets and the deeper technology capabilities for the sustainable competitive advantage at the same time. While firms plan technology portfolio strategies, they should consider the attribute of the technology. Nanotechnology, a cutting-edge technology, is a general purpose technology, unlike conventional product-oriented technologies. This empirical study was focused on how multi-national firms' exploration and exploitation strategies for nanotechnology affect their innovative and financial performance. It uses multiple regression analysis on panel data. This result shows that the more diversified and specialized nanotechnology as platform technology is positively related to their innovative and financial performance, unlike the research results for product-oriented technologies. In addition, exploratory innovation is more effective to firm performance than exploitation. This implies how global firms can manage effectively platform technology strategies under the constraints of resources.

• The Journal of the Korea Contents Association
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• v.21 no.10
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• pp.274-285
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• 2021

Nowadays, cities are developing rapidly, and the development of old and new towns are not balanced. The decline of old towns has promoted the development of new towns, leading to serious decline of old towns, population loss, and environmental degradation. This research hopes to alleviate the decline of the old town, try to find a balance between the old and the new towns, and use the development concept of "symbiosis" to develop the old and new towns together. The new and old towns will develop together, so that the old towns will be rejuvenated. Research method is to conduct preliminary research and theoretical investigation on the two parts of "symbiosis" and community space, sort out the space composition and characteristic elements, propose the concept of symbiosis community, and conduct case analysis. Since 2016, China has implemented the 'Symbiosis Institute' renewal project in Beijing. It selected the case of the post-2016 alley community in Dongcheng and Xicheng District, Beijing for analysis, and conducted a questionnaire survey to finally obtain the results of the analysis. According to the choice of spatial composition and characteristics in each case, and at the same time refer to the results of the questionnaire, sort out the results of importance. In the future design, we hope to use the above design strategy as a reference to realize the city's "symbiotic" development.

• Journal of Biomedical Engineering Research
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• v.43 no.2
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• pp.81-93
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• 2022

Proprioception training has been considered a secondary method to facilitate postural control ability. This study investigated the effects of two different proprioception training methods - the proprioceptive neuromuscular facilitation (PNF) and visual feedback-based joint position and force reproduction (VF) - on postural control advancements. Sixteen healthy people volunteered for this study, and they randomly grouped two. Each group participated in the PNF and VF training for three weeks. We evaluated each subject's proprioception levels and balance ability before and after the training. We used a clinometer and electromyogram (EMG) for VF training. The joint position reproduction test was also used to evaluate the position and force aspects of the proprioception level. We analyzed the trajectory of the center of pressure (COP) while subjects were standing on the firm floor and balance board with one leg using a pressure mat. The improvement of the position aspect of the proprioception level of the VF group (4.93±4.74°) was larger than that of the PNF group (-0.43±2.08°) significantly (p=0.012). The improvement of the anterior-posterior COP velocity of the PNF group (0.01±0.01 cm/s) was larger than that of VF group(0.002±0.01 cm/s) significantly (p=0.046). Changes of position error in the PNF group (rho=0.762, p=0.028) and tibialis anterior force reproduction error in the VF group showed a significantly strong relationship with balance ability variables. These results showed that different PNF and VF have different effects on improving two aspects of proprioception and their relationship with the balance ability. Therefore, these results might be useful for selecting proprioception or balance rehabilitation considering the clinical and patients' situation.