• Journal of Energy Engineering
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• v.23 no.2
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• pp.119-124
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• 2014

After the oil crisis in 1970s, many countries have tried to reduce oil dependency. Especially, in Korea, rapid declining oil consumption has speedily brought to electrification and a surge in electricity demand. This paper attempts to estimate the relationship between declining oil use and electrification in Korea using OECD panel data covering from 1985 to 2011. To this end, random effect model and fixed effect model are employed. The increase in the ratio of energy oil to total energy consumption by 10%p leads to reduce the electricity demand by about 15%. This result can be useful information to cope with the recent crisis of electric power. In addition, industrial sector is ranked in forth the ratio of industrial electricity use to total electricity use according to the result of comparative analysis of electricity consumption by use in OECD countries. Therefore, industrial sector should be treated as the main target of demand-side management policies for electricity.

• International journal of advanced smart convergence
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• v.6 no.1
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• pp.82-88
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• 2017

Emergency lights and exit signs are an indispensable part of safety precautions for effective evacuation in case of emergency in public buildings. These emergency sign indicates safe escape routes and emergency doors, using an internationally recognizable sign. However visibility of those signs drops drastically in case of emergency situations like fire smoke, etc. and loss of visibility causes serious problems for safety evacuation. This paper propose a novel emergency light and exit sign built-in with Bluetooth Low Energy (BLE) Beacon to assist the emergency self-guiding evacuation using devices for crisis and emergency management to avoid panic condition inside the buildings. In this approach, the emergency light and exit sign with the BLE beacons deployed in the indoor environments and the smart devices detect their indoor positions, direction to move, and next exit sign position from beacon messages and interact with map server in the Internet / Intranet over the available LTE and/or Wi-Fi network connectivity. The map server generate an optimal emergency exit path according to the nearest emergency exit based on a novel graph generation method for less route computation for each smart device. All emergency exit path data interfaces among three system components, the emergency exit signs, map server, and smart devices, have been defined for modular implementation of our emergency evacuation system. The proposed exit sign experimental system has been deployed and evaluated in real-time building environment thoroughly and gives a good evidence that the modular design of the proposed exit sign system and a novel approach to compute emergency exit path route based on the BLE beacon message, map server, and smart devices is competitive and viable.

• Journal of the Korean Operations Research and Management Science Society
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• v.40 no.2
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• pp.1-17
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• 2015

In this paper, we propose a portfolio selection model utilizing a Markov chain for investing in the foreign exchange market based on market forecasts and exchange rate movement predictions. The proposed model is utilized to compute optimum investment portfolio weights for investing in margin-based markets such as the FX margin market. We further present an objective investment algorithm for applying the proposed model in real-life investments. Empirical performance of the proposed model and investment algorithm is evaluated by conducting an experiment in the FX market consisting of the 7 most traded currency pairs, for a period of 9 years, from the beginning of 2005 to the end of 2013. We compare performance with 1) the Dollar Index, 2) a 1/N Portfolio that invests the equal amount in the N target assets, and 3) the Barclay BTOP FX Index. Performance is compared in terms of cumulated returns and Sharpe ratios. The results suggest that the proposed model outperforms all benchmarks during the period of our experiment, for both performance measures. Even when compared in terms of pre- and post-financial crisis, the proposed model outperformed all other benchmarks, showing that the model based on objective data and mathematical optimization achieves superior performance empirically.

• Journal of the Korean Operations Research and Management Science Society
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• v.39 no.2
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• pp.83-95
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• 2014

In this paper, we develop a portfolio selection model that can be used to invest in markets with margin requirements such as the foreign exchange market. An investment algorithm to implement the proposed portfolio selection model based on objective historical data is also presented. We further conduct empirical analysis on the performance of a hypothetical investment in the foreign exchange market, using the proposed portfolio selection model and investment algorithm. Using 7 currency pairs that recorded the highest trading volume in the foreign exchange market during the most recent 10 years, we compare the performance of 1) the Dollar Index, 2) a 1/N Portfolio which equally allocates capital to all N assets considered for investment, and 3) a hypothetical investment portfolio selected and managed according to the portfolio selection model and investment algorithm proposed in this paper. Performance is compared in terms of accumulated returns and Sharpe ratios for the 10-year period from January 2003 to December 2012. The results show that the hypothetical investment portfolio outperforms both benchmarks, with superior performance especially during the period following financial crisis. Overall, this paper suggests that a mathematical approach for selecting and managing an optimal investment portfolio based on objective data can achieve outstanding performance in the foreign exchange market.

• Journal of Practical Engineering Education
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• v.14 no.1
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• pp.109-118
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• 2022

The purpose of this study is to derive implications for establishing vocational training education policies in Korea by investigating COVID-19 countermeasures in the United States, Germany, Switzerland, Australia, the United Kingdom, and Singapore, which are representative vocational education training countries. The implications derived from the survey of leading countries in vocational education training are as follows. First, in order to respond to COVID-19, face-to-face vocational education training was quickly converted to online education. Second, the system was strengthened to overcome the crisis of the apprenticeship system, especially the British and Australian governments established a special budget for the apprenticeship system. Third, due to COVID-19, blended learning has become a new standard education model, accelerating the digitalization of vocational education training. Finally, leading countries in vocational education training are promoting the development of the edutech industry to support online education. This provides important implications for the direction of change in vocational education training in South Korea.

• Journal of Korean Academy of Nursing
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• v.33 no.2
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• pp.189-199
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• 2003

Purpose: The purposes of this study is to develop an educational program to prevent sexual abuse of children and to improve the physical and mental health of children by providing a rape-free environment and safety education. This program will provide parents and children with information on how to prevent sexual abuse in children. Children learn specific methods to avoid being victimized both at home and outside the home through a learning game and simulation, which is based on problem solving. Method: This program was developed based on a literature reviews, surveys and negotiation process. School- aged-children, parents, and teachers were interviewed to reveal their educational needs based on their experiences related to sexual abuse. Result: This program includes useful subjects such as safety education, early detection of sexual abuse, crisis management, resource persons, and phone numbers of available hospital. Counseling is provided by researcher or by a pediatric psychiatrist if needed. Conclusion: This program could be adequately utilized for prevention of sexual abuse of children. It also will provide an intervention strategy for abused children. This educational program was distributed to all of the elementary school through the Ministry of Education and Human Resources Development.

• The Korean Journal of Applied Statistics
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• v.28 no.6
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• pp.1289-1312
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• 2015

This paper studies the comovement of industry defaults among listed companies. Rank correlation coefficients of Spearman's ${\rho}$ and Kendall's ${\tau}$ measure the concordance of default. These non-parametric coefficients do not require distributional assumptions and are easily used even with less data and extreme values. This study predicts a future financial crisis by looking at the comovement of industry defaults. We expect our analyses will aid market participants (including company executives) in making investment or risk management decisions.

• Child Health Nursing Research
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• v.9 no.2
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• pp.162-172
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• 2003

Purpose: The purpose of this study is to develop safety education program to prevent child accident and to improve the health of children by providing a safe environment. This program provide parents and children with information on how to prevent children from accident. Children especially can learn specific methods to avoid accident both at home, school and outside the home through safety education, which is based on problem solving. Method: This program was developed based on literature reviews, surveys and negotiation process. School aged children, parents, and teachers were interviewed to identify their educational needs based on their experiences related to child accident. During the 7th Annual Conference of Educational Courses in 1999, the Korean Educational Ministry examined the feasibility and compatibility of integrating the program into the current educational curriculum. Result: This program includes useful subjects such as safety education, preventive strategies, crisis management, guide for parent and teacher, resource persons, internet site and phone numbers of available hospital. Counseling is provided by researcher if needed. Conclusion: This program could be adequately utilized for prevention of child accident and creation of preventive strategies. It will also suggest an intervention strategy for injured children.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.1-13
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• 2020

This study examines the effect of managerial ownership on firm value in capital markets where outside governance mechanisms to discipline managers are weak or non-existent. We hypothesize that strong market forces in the U.S. confound the effect of managerial ownership on firm value, i.e., the convergence of interest argument. We test the hypothesis using data from 112 firms from Singapore Stock Exchange and 205 firms from the Stock Exchange of Thailand prior to the Asian financial crisis in 1997 when the market forces were weak, yet the investor protection was sufficient to prevent outright appropriation from management. For ease of comparison, we use methodologies from studies done on the U.S. sample firms during the same study period as ours. We find that, both in Singapore and Thailand, firm value is a function of managerial ownership, and the relation is of the famous inverted U-shaped. Moreover, the relation is robust under different model specifications. The results from Thai sample, with weaker market forces than in Singapore, lend support to many agency cost hypotheses advanced in the U.S. Our results provide useful implication for investors in emerging and frontier markets where outside governance mechanisms are yet to be fully developed.

• Journal of Distribution Science
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• v.19 no.9
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• pp.79-90
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• 2021

Purpose: The covid-19 pandemic has led to the implementation of strict measure such as social distancing and lockdown around the globe and these measures has largely affected the retail industry. This study is to examine the negative impacts of the covid-19 pandemic on the acceleration of startups innovation in the retail industry. Research design, data and methodology: The current authors used the qualitative content approach and the data collection process in this procedure starts with a formulated and direct research question which means that rather than asking how a change in one variable leads to a change in the other, the research question seeks to understand the meanings and experiences derived from the piece of communication. Results: This section outlines how retail companies can overcome the adversely effect of the Covid-19 pandemic on the acceleration of startup innovation in the retail industry. The solutions are mostly from peer-reviewed articles. All retailers should respond to the negative impacts of the covid-19 pandemic to ensure their continuity while accelerating startups innovations in the sector. Conclusion: This study implies that the retailing industry, alongside other sectors, should respond to the negative effects of the covid-19 pandemic by encouraging innovations and adaptations. The study has shown that flexibility is very crucial to adapt during the crisis