• The Korean Journal of Financial Management
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• v.27 no.2
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• pp.35-62
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• 2010

This paper examines the existence of the fund performance persistence and the smart money effect in Korean stock market and tests the flow-induced price pressure (FIPP) hypothesis, that is, fund flows affect individual stock returns and mutual fund performance. This paper also tests whether the FIPP effect can cause the performance persistence using the monthly returns and stock holdings data of 2,702 Korean mutual funds from January 2002 to June 2008. The empirical results indicate that the performance persistence exists significantly for a long time but the smart money effect does not. The hedge portfolio constructed by buying funds with the highest past 12 months performance and selling funds with the lowest past 12 months performance earns 0.11%~1.05% monthly abnormal returns, on average, in 3 years from portfolio formation month, but the hedge portfolio constructed by buying funds with the highest past net fund inflows and selling funds with the lowest past net fund inflows cannot earn positive monthly abnormal returns and the size of negative abnormal returns of the portfolio increase as time goes on. We find the evidence that the FIPP hypothesis is significantly supported. We first estimate the FIPP measure for each individual stock using the trading volume resulting from past fund flows and then construct the hedge portfolio by buying stocks with the highest FIPP measure and selling stocks with the lowest FIPP measure. That portfolio earns significantly positive abnormal return, 1.01% at only portfolio formation month and cannot earn significant abnormal returns after formation month. But, the FIPP effect cannot cause the performance persistence because, within the same FIPP measure group, funds with higher past performance still earn higher monthly abnormal returns than those with lower past performance by 0.08%~0.77%, on average, in 2 years. These results imply that the main cause of the performance persistence in Korean stock market is the difference of fund managers' ability rather than the FIPP effect.

• The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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• v.16 no.4
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• pp.180-195
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• 2011

A balanced trophic model for Sinjido marine ecosystem was constructed using ECOPATH model and data obtained 1994 in the region. The model integrates available information on biomass and food spectrum, and analyses ecosystem properties, dynamics of the main species populations and the key trophic pathways of the system, and then compares these results with those of other marine environments. The model comprises 17 groups of benthic algae, phytoplankton, zooplankton, gastropoda, polychaeta, bivalvia, echinodermata, crustacean, cephalopoda, goby, flatfish, rays and skates, croaker, blenny, conger, flatheads, and detritus. The model shows trophic levels of 1.0~4.0 from primary producers and detritus to top predator as flathead group. The model estimates total biomass(B) of 0.1 $kgWW/m^2$, total net primary production(PP) of 1.6 $kgWW/m^2/yr$, total system throughput(TST) of 3.4 $kgWW/m^2/yr$ and TST's components of consumption 7%, exports 43%, respiratory flows 4% and flows into detritus 46%. The model also calculates PP/TR of 0.012, PP/B of 0.015, omnivory index(OI) of 0.12, Fin's cycling index(FCI) of 0.7%, Fin's mean path length(MPL) of2.11, ascendancy(A) of 4.1 $kgWW/m^2/yr$ bits, development capacity(C) of 8.2 $kgWW/m^2/yr$ bits and A/C of 51%. In particular this study focuses the analysis of mixed trophic impacts and describes the indirect impact of a groupb upon another through mediating one based on 4 types. A large proportion of total export in TST means higher exchange rate in the study region than in semi enclosed basins, which seems by strong tidal currents along the channels between islands, called Sinjido, Choyakdo and Saengildo. Among ecosystem theory and cycling indices, B, TST, PP/TR, FCI, MPL and OI are shown low, indicating the system is not fully mature according to Odum's theory. Additionally, high A/C reveals the maximum capacity of the region is small. To sum up, the study region has high exports of trophic flow and low capacity to develop, and reaches a development stage in the moment. This is a pilot research applied to the Sinjido in terms of trophic flow and food web system such that it may be helpful for comparison and management of the ecosystem in the future.

• Korean Business Review
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• v.11
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• pp.67-81
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• 1998

In this study, we discuss the possibility of applying the group technology to the service area. We analyze student service system to improve college student service and constructed new service cells using the group technology. To do so, we build service cells for the information technology support and related business in college student service with the standard of service cell formation process. This naturally leads us to the way to improve or to solve those problems such as waiting time and complexity of the related department to provide service to the student. The application of the group technology means the increase of the investment in the view point of the owner. However, to stand against the infinite competition and the open of the education market, university have to prepare. This preparation can be helped by applying the group technology for improving the college student service quality.

• Proceedings of the Korean Information Science Society Conference
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• 1998.10a
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• pp.444-446
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• 1998

실시간 멀티미디어 응용의 등장으로 멀티캐스트와 QoS(Quality of Service)필수적인 망 서비스가 부각되고 있다 이에 ATM 기반의 인터넷에서 IP멀티캐스트의 효율적인 처리를 위하여 MARS(Multicast Address Resolution Server)가 제안되었고, 기존의 최선 서비스 기반의 인터넷에서 QoS(Quality of Service)를 지우너하기위하여 RSVP(Resource Reservation Protocol)가 제안되었다. 본 논문에서는 ATM망에서 QoS 가 지원되는 IP 멀티캐스트 서비스를 제공하기위하여 MARS 구조에서 RSVP를 지원하는 방안을 두 가지 제안하고, 시뮬레이션을 통하여 그 성능을 분석하고자 한다. 제안하는 두 가지 방법은 각각 RSVP 전 홉 논드 방식과 MARS서버 방식이라 명명하였다. RSVP전 홉 노드 방식은 송신원으로부터 ATM 망으로 진입하는 노드와 수신원을 향하여 ATM망을 진출하는 노드 간에 각각 일대일 양방향 VC를 설정하여 멀티캐스트 그룹에 속하는 수신원들이 보내는 자원 예약 메시지를 ATM 망에서 전송하는 방안이다. MARS 서버 방식은 MARS서버가 RSVP자원 예약 메시지를 처리하도록 그 기능을 확장함으로써 ATM 망의 제어 VC를 절약할 수 있는 방안이다. 시뮬레이션을 통하여, RSVP흐름의 휴지기간이 짧으면 RSVP전 홉 노드방식이 VC해제율이 낮아져 병목 현상으로 인한 큐잉 지연에 크게 영향을 받고 있는 MARS방식보다 유리함을 볼 수 있었고 RSVP 흐름의 휴지기간이 길 때는 병목 현상이 완화된 MARS방식이 VC설정 지연 단점이 부각된 RSVP 전 홉 노드 방식보다 유리함을 볼 수 있었다.

• Vacuum Magazine
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• v.3 no.4
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• pp.14-18
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• 2016

In this article, we will summarize recent advances in ultrahigh vacuum (UHV) low-temperature scanning tunneling microscopy (STM) during the last decade. Leading STM groups have finished or are constructing UHV milli-Kelvin high magnetic field STM capable of a few tens of milli-Kelvin and ~ 10 tesla. Applications with UHV sub-Kelvin high magnetic STM have been increased since mid-2000's. Active research using UHV low temperature tuning fork atomic force microscopes and UHV photon low-temperature scanning tunneling microscopes will be introduced. Considering these advances of UHV low-temperature STM we will discuss next trend in STM in the near future.

• Proceedings of the Korea Information Processing Society Conference
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• 2008.11a
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• pp.340-343
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• 2008

유전자들은 복잡한 상호작용을 통해 세포의 기능이 조절된다. 상호작용하는 유전자 그룹들을 유전자 조절 네트워크라고 한다. 기존의 유전자 조절 네트워크는 2D microarray 데이터를 이용하여 시간의 흐름에 따른 유전자간의 상호작용을 알 수가 없었다. 이 논문에서는 시간의 변화에 따른 유전자들 간의 조절관계를 살펴 볼 수 있는 조절네트워크 모델링의 방법을 제시한다. 유전자의 발현양을 표시하기 위해 이진 이산화 방법을 사용하였고 3D microarray 데이터에서 유전자 발현 패턴을 찾기 위해 Cube mining 알고리즘을 적용하였고, 유전자간의 관계를 밝히기 위해 시간 관계 규칙탐사 기법을 사용하여 유전자들 간의 시간 관계를 포함한 유전자 조절네트워크를 구축하였다. 이 연구는 시간의 흐름에 따른 유전자간의 상호작용을 알 수 있으며, 모델링된 조절 네트워크를 이용하여 기능이 아직 발견되지 않은 유전자들의 기능을 예측 할 수 있다.

• Journal of Wetlands Research
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• v.19 no.2
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• pp.223-229
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• 2017

This study analyzed the relationship between environmental factors and the temporal changes of the bird populations during the every January from 1999 to 2016 (18 years) in Donglim reservoir. 'Winter Waterbird Census of Korea' data by National Institute of Biological Resources were used for the bird population data, and principal component analysis and cluster analysis were used to analyze the changes of annual population. The average temperature of January and the average storage rate of the reservoir were used as environmental factors. According to the results of the study, the population changes in the study area can be explained by the increase and decrease of two water bird groups and a mountain bird group. The average temperature of the years when the population of water bird groups increased was more than $1.4^{\circ}C$ in comparison with the year when mountain birds increased. On the other hand, the influence of the water content was not clear. The visiting of Baikal Teal affected by temperature was a factor affecting the other group of water bird and a mountain bird group. The results of this study suggest that the temperature change affects the global spatial distribution of birds and the migration of large population species such as Baikal Teal affects species composition and populations of birds at local scale. Therefore, understanding of environmental changes at large scale and spatial distribution of species and flock contributes to understand the temporal variation of the bird population at regional or local scales.

• KDI Journal of Economic Policy
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• v.36 no.4
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• pp.33-69
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• 2014

We investigate determinants of fund investment flows using Korean equity investment funds. Unlike previous studies which analyzed net-flows (inflow minus outflow), we analyze fund investment inflows and outflows separately that should properly reflect investors' fund selection and redemption decision. We find similar effects of past return, fund age on net-flows to existing studies based on US market data. The analysis of determinants of inflows shows that inflows are related to past return, fund age and sales fee as net-flows. In contrast, outflows are found to behave quite differently from inflows. Apparently, asymmetry exists between fund investment inflows and outflows at the Korean fund selection market. Specifically, high past returns increase fund investment inflows while increase, rather than decrease, fund outflows. Moreover, 'convexity' is detected both in inflows and outflows: higher past returns accelerate outflows as well as inflows. Effects of sales fee also differ between inflows and outflows. In the 'affiliated' fund sample, sales fee is negatively related to inflows while positively related to outflows. In the 'unaffiliated' fund sample, sales fee is positively related to inflows, but no significant relationship exists with outflows. Empirical findings of this paper imply that the rational investor's fund selection view cannot provide a consistent explanation of the Korean fund selection market. In particular, the positive and convex relationship between past returns and fund outflows is inconsistent with the rational investor view. The fact that investor's fund investment appears to display 'disposition effect', which has been reported by studies of individual investors' stock investment behaviour suggests that the behavioral finance view should be a part of explanation for the Korean fund selection market. In addition, the strikingly different patterns between the 'affiliated' funds and the 'unaffiliated' funds, imply that brokers' incentive structure is another prevailing factor for fund investment flows.

• Review of KIISC
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• v.30 no.5
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• pp.25-33
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• 2020

산업 제어 시스템 대상 원격 관제 기술은 관리자의 즉각적 대응을 통해 산업 재해 발생 확률 저하를 위한 핵심기술로 주목받고 있다. 그러나 산업 제어 시스템 원격 관제 기술은 원격의 관리자와 통신하기 위해 외부 네트워크 연결이 필수적이며, 따라서 공격자들에게 기존 산업 제어 시스템에 존재하지 않던 새로운 네트워크 취약점을 노출하게 된다. 산업 제어시스템은 네트워크 취약점을 해결하기 위해 터널링 프로토콜 또는 패킷 암호화 솔루션을 사용하고 있지만, 이러한 솔루션은 패킷 메타데이터를 분석하는 네트워크 트래픽 분석 공격을 방어하지 못한다. 공격자는 네트워크 트래픽 분석을 통해 패킷의 송수신 대상, 통신 빈도, 활성화 상태 등을 알 수 있으며 획득한 정보를 다음 공격을 위한 초석으로 사용할 수 있다. 따라서 기존의 솔루션들이 해결하지 못하는 산업 제어 시스템 네트워크 환경에서 발생하는 잠재적인 문제들을 해결하기 위해 네트워크 트래픽 분석 난이도를 향상시켜 분석을 방어하는 솔루션이 필요하다. 본 논문에서는 패킷 메타데이터를 분석하는 네트워크 트래픽 분석 공격을 어렵게 하고자 패킷 분할 및 병합 기반 네트워크 트래픽 난분석화 기법을 제안한다. 본 논문에서 제안하는 기법의 참여자인 관리자와 산업 기기는 각각 일정한 크기의 그룹으로 묶인다. 그리고 원격 관제를 위해 관리자와 산업 기기 간 송수신되는 모든 패킷을 대상으로 분할 노드를 경유하도록 한다. 분할노드는 패킷의 난분석화를 위한 핵심 요소로써, 관리자와 산업 기기 사이에 송수신되는 모든 패킷을 상호 목적 대상 그룹의 개수로 분할한다. 그리고 분할한 패킷 조각에 패킷 식별자와 번호를 부여하여 패킷 조각을 모두 수신한 목적대상이 올바르게 패킷을 병합할 수 있도록 하였다. 그리고 분할노드는 목적 대상이 속한 그룹의 모든 참여자에게 서로 다른 패킷 조각들을 전달함으로써 공격자가 패킷의 흐름을 알 수 없도록 하여 산업 제어 시스템 정보를 수집하는 것을 방어한다. 본 논문에서 제안하는 패킷 분할 및 병합 기반 트래픽 난분석화 기법을 통해 산업 제어 시스템을 대상으로 한 트래픽 분석 공격을 방어함으로써 네트워크 공격의 피해를 줄이고 추가적인 네트워크 공격을 차단할 수 있을 것으로 기대된다.

• Journal of Korea Multimedia Society
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• v.3 no.4
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• pp.407-415
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• 2000

The ultimate goal of flow control in the semiconductor fabrication process, one of the most equipment-intensive and complex manufacturing process, is to reduce lead time and work in process. In this paper, we propose stand alone layout in the form of job shop using group technology to improve the Productivity and eliminate the inefficiency in FMS (flexible manufacture system). The performance of stand alone layout and in-line layout are analyzed and compared while varying number of device variable chanties. The analysis of in-line layout is obtained by examining its adoption in the memory products of semiconductor factory. The comparison is performed through simulation using ProSys; a window 95 based discrete system simulation software, as a tool for comparing performance of two proposed layouts. The comparison demonstrates that when the number of device variable change is small, in-line layout is more efficient in terms of production Quantity. However, as the number of device variable change is more than 14 times, stand alone layout prevails over in-line layout.