• The Research Journal of the Costume Culture
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• v.16 no.4
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• pp.619-633
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• 2008

This study is to compare cultural characteristics and the clothing value between Korean and American college women. Also this study is to analyze the culture effect on the clothing value. The cultural characteristics is explained by Hofstede's five Cultural Dimensions- power distance, individualism, masculinity, uncertainty avoidance and long-term orientation. 800 questionnaires, were utilized for this study. The SPSS 12.0 was used to analyze the technical statistics like average and frequency, 1-test, $x^2$, factor analysis and multiple regression analysis. Also the LISREL 8.0 was used to Perform a confirmatory factor analysis. The result showed, first, there were 5 major cultural differences between Korean and American college women. Comparatively, Korean college women showed higher uncertainty avoidance and long-term orientation, and lower power distance, individualism and masculinity. Second, there were differences in the clothing value aspect. Korean college women considered the aesthetic clothing value to be most important, however, American college women considered the economic clothing value to be most important. Third, there were some differences in the clothing value because of the cultural differences. For Korean college women, there were 5 major cultural differences that had an effect on the aesthetic, social, religious and economic clothing values, however, for America college women, the 5 major cultural differences had an effect on the aesthetic, social, and religious values but no effect on the economic value.

• Journal of Information Technology Applications and Management
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• v.15 no.3
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• pp.195-208
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• 2008

In an emergency management case, evaluating the economic value of information technology investments is a challenging problem due to the effects of decision making, uncertainty of disasters, and difficulty of measurements. Risk assessment and recovery process, one of the major functions in emergency management, consists of (1) measurement of damages or losses, (2) recovery planning, (3) reporting and approving budgets, (4) auctioning off recovery projects to constructors, and (5) construction for the recovery. Specifically and of our interest, measurement of damages or losses is often a costly and time-consuming process because the wide range of field surveys should be performed by a limited pool of trained agents. Managers, therefore, have to balance accuracy of the field survey against the total time to complete the survey. Using information technologies to support field survey and reporting has great potential to reduce errors and lowers the cost of the process. However, existing cost benefit analysis framework may be problematic to evaluate and justify the IT investment because the cost benefit analysis often include the long-run benefit of IT that is difficult to quantify and overlook the impact of managerial control upon the investment outcomes. Therefore, we present an alternative cost-centric control model that conservatively quantifies all cost savings to replace benefits in cost benefit analysis and incorporate the managerial control. The model provides a framework to examine how managerial decision making and uncertainty of disaster affect the economic value of IT investments. The current project in Emergency Agency in South Korea is introduced as a case to apply the cost-centric control model. Our work helps managers to better evaluate and justify IT-related investment alternatives in emergency management.

• The Korean Journal of Financial Management
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• v.13 no.1
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• pp.341-357
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• 1996

Some empirical studies have shown that asset prices respond to announcements of economic news, however, others also have found little evidence. This study assesses how market participants of the S&P 500 Index Futures reacted to the U.S. economic news announcements. For this purpose, using a GARCH (Generalized Autoregressive Conditional Heteroscedasticity) model, we use several U.S. news variables, its each surprise component and interest rates. We find that some economic news variables affected significantly on the S&P 500 Index Futures. In other words, we find that weekend variable, lagged volatility, and surprise component of trade deficit increased level of volatility. However, interest rate, M1, unemployment announcements caused the variance of the S&P 500 Index Futures to reduce, and each of the surprise component of M1 and trade deficit increased it. The result suggests that resolution of uncertainty, through economic news announcement, while, in some cases, causes market participants to reduce their forecast of volatility, a large difference between the market's forecast and the realization of the series causes the volatility to increase.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.38 no.1
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• pp.52-64
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• 2015

Korea ocean research stations manage the weather and environmental data collected from coastal and ocean areas to provide short-term and long-term ocean forecasts. The purpose of this paper is to analyze and quantify economic benefits of the ocean research stations with sensors to observe physical, chemical, and biological data. The construction and operation of an integrated ocean observation station is expected to reduce uncertainty about ocean and coastal areas and to improve the quality of ocean forecasts. The economic benefits are mainly come from improved search and rescue operations, ocean pollution management, yellow dust management, and improved productivity in ocean-related industries. In addition, an input-output analysis is performed to evaluate the economic impacts of ocean research stations nationwide. The analysis shows that the system can contribute to industries such as fishing, maritime and air cargo, medical and health care.

• Proceedings of the Society of Korea Industrial and System Engineering Conference
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• 2002.05a
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• pp.25-30
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• 2002

The problem of qualitative reliability system is very important issue in the digitalized nuclear power plant, because the failure of its system brings about extravagant economic loss, extensive environment destruction, and fatal damage of human. Therefore this study is to develop the reliability evaluation model through the normalized scoring model by the quantitative and qualitative factors considering the advanced safety factors In the Advanced Pressurized water Reactor 1400MWe(APR 1400) under uncertainty Especially, the qualitative factors considering the information and human factors for the systematic and rational justification have been closely analyzed. The reliability evaluation model can be simply applied in real fields in order to minimize the industrial accident and human error in the digitalized nuclear power plant.

• Toxicological Research
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• v.17
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• pp.17-24
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• 2001

Risk assessment is useful tool making good decisions on the risks of certain hazardous com-pound and suggests safe margin through scientific process using toxicological data, statistical tool, exposure value and relevant variants. The goal of risk management is to protect the public health from hazardous compound based on result of risk assessment having reality. For the suggestion of exact man-aging information, risk assessment must be designed to represent a "plausible estimate" of the exposure to the individuals and to minimize uncertainty. Risk assessment methodology and knowledge are expected to change more rapidly than before and up-to-date methodology should be applied in regulatory aspects through the Agency. For the useful application of risk assessment, the communication between the risk assessor and the risk manager is needed before the initiation of the risk assessment and upon its completion. Generally, the risk assessment itself as a practical tool in the regulatory decision making process would be regarded with social economic impact.ic impact.

• Korean Management Science Review
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• v.26 no.1
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• pp.21-35
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• 2009

There is a controversy on Internet pricing, flat-rate vs. usage-based. This study gives a comparative analysis between flat-rate and two-part tariff which is realistic alternative of usage-based pricing. In a basic economic model, two-part tariff based on ISP's cost structure satisfies allocative efficiency and relatively expand the number of subscribers. But the characteristics of Internet service like consumers' uncertainty on cost, measurement cost of traffic and network externality induce increase of cost or decrease of marginal utility. The analysis shows that small impact of these can make flat-rate more efficient.

• Asian Journal of Innovation and Policy
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• v.5 no.2
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• pp.197-207
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• 2016

This paper seeks to measure the monetary value of technical development in the deep seabed manganese nodule mining by applying the compound option model (COM). The COM is appropriate for the project in terms of its decision-making structure and embedded uncertainty. The estimation results show that the deep seabed mining project has more economic potential than shown by the previously obtained results from the discounted cash flow (DCF) analysis. In addition, it is reasonable to invest in the project taking the various uncertainty factors into consideration, because the ratio of the value to the cost of the project is far higher than one. This information can be utilized in national ocean policy decision-making.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.22 no.51
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• pp.63-72
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• 1999

Many firms have applied flexible manufacturing systems as a means of increasing productivity, profitability, and quality. Therefore, the purpose of this paper is to develop the more efficient justification model through an analytical scoring model with the quantitative factors, flexibility factors, and safety factors under uncertainty. In this paper, the three factors for properly comparing and evaluating of flexible manufacturing systems are presented. Especially, this paper has emphasized the flexibility and safety factor; the one consists of organization assessment, process treatment function, products and products quantity, useful life assesment, and software function, the other presents risk assesment, Y2K problem, safety device analysis, total productive management system, safety management. Finally, a normalized scoring model by the new flexibility and safety factors can be used in real fields for flexible manufacturing systems project selection under uncertainty.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.25 no.6
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• pp.23-35
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• 2002

The problem of system reliability is very important issue in the digitalized nuclear power plant, because the failure of its system brings about extravagant economic loss, environment destruction, and fatal damage of human. Therefore the purpose of this study has developed the reliability evaluation model through the scoring model by the quantitative and qualitative factors in order to justify the evaluation considering the advanced safety factors in the Advanced Pressurized water Reactor 1400MWe(APR 1400MWe) under uncertainty. Especially, the qualitative factors considering the human, information control, and quality factors for the systematic and rational justification have been closely analyzed. The proposed model can be simply applied in real fields in order to minimize the industrial accidents in the digitalized nuclear power plant.