• The Korean Journal of Financial Management
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• v.22 no.1
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• pp.71-91
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• 2005

The object or this paper is to analyze the rollover effect on KOSPI 200 index option prices. Especially we analyze the implied volatilities of the options that became the near maturity options as the old one expired. For this analysis, a panel data of KOSPI 200 Index Option Prices from year 1999 to year 2001 were used, and following results were obtained. First, after controlling for the underlying index returns, strike prices and other pricing factors, the call option prices tend to decrease while the put option prices tend to increase during the week of expiry. Second, if one concentrates on the daily price changes, call option prices tend to go up on Thursday (as the old options expire), and then experience a price decrease on the following day, while the reverse is true for the put options. These results imply that the option prices are affected by some of the market micro-structure effects such as whether the option is the near maturity option. We conjecture that the reason for this is related to the undervaluation of KOSPI 200 futures. The results from this paper have implications on the timing of option trades. If one wants to buy put options, and/or sell call options, he has better off by executing his intended trades before the old options expire. On the other hand, if one wants to buy call options, and/or sell put options, hi has better off by executing his intended trades after the expiry.

• Korean Journal of Environmental Biology
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• v.31 no.4
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• pp.275-287
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• 2013

The Japanese anchovy Engraulis japonicus is a widespread species in the western North Pacific and major fishery resource. To understand the spatio-temporal variation of anchovy prey items in the coastal waters of southern Korea, the stomach contents of anchovy and the structure of the zooplankton community were analysed at three sites (Jindo, Yeosu and Tong-yeong) from July 2011 to February 2012. The main prey items in Yeosu and Jindo were cyprid stage of barnacle (>35%) and copepod Calanus sinicus (>22%) in July, respectively, while, predominant ones in Tongyeong were small copepods, Paracalanus parvus s.l. (41%) and Corycaeus affinis (22%). During this period, the dominant zooplankton were cladoceran Evadne tergestina (39%) in Yeosu, small copepod, P. parvus s.l. (28%) in Jindo and cladoceran E. tergestina (14%) in Tongyeong. The dominant prey items were barnacle larvae and copepods in summer, phytoplankton and Pseudodiaptomus marinus in autumn and P. parvus s.l. and cold water copepod, Centropages abdominalis in winter. Anchovy prefer the prey item C. sinicus (3%) over E. tergestina (39%), which was a dominant species in the catching site in summer. P. marinus (0.5%) and C. abdominalis (0.9%) were preferred over P. parvus s.l. (30%, 21%) in autumn and winter, respectively. Prey items varied with area and season in the coastal waters of southern Korea. These results suggest that the prey selectivity of anchovy showed high flexibility and adaptability in the study waters.

• Applied Biological Chemistry
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• v.39 no.3
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• pp.172-176
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• 1996

Effect of culture conditions such as pH, temperature, agitation speed and oxygen transfer rate on xylitol production from xylose by Candide parapsilosis ATCC 21019 mutant was investigated in a jar fermentor. The initial concentration of xylosr was fixed at 50 g/l in this experiment. When pH was increased, cell growth and xylose consumption rate were increased, but maximum xylitol production was shown in the range of pH 4.5 and 5.5 with a yield of 0.68 g/g-xylose. The optimal temperature for xylitol production was determined to be $30^{\circ}C$. Considering the importance of dissolved oxygen tension, for xylitol production, the effect of oxygen transfer rate coefficient $(k_La)$ on fermentation parameters was carefully evaluated in the range of $20{\sim}85\;hr{-1}\;of\;k_La$ (corresponding to $100{\sim}300$rpm of agitation speed). The xylitol production was maximized at $30\;hr^{-1}\;of\;k_La$(150 rpm). A higher oxygen transfer rate supported better cell growth with lower xylitol yield. It was determined that maximum xylitol concentration, xylitol yield and productivity was 35.8 g/l, 71.6% and $0.58\;g/l{\sim}hr^{-1}$, respectively, at $30\;hr^{-1}\;of\;k_La$ In order to further increase xylitol productivity, ferementation using the concentrated biomass(20 g/l) was carried out at the conditions of pH 4.5, $30^{\circ}C$ and $30\;hr\;1$ of oxygen transfer rate. The final xylitol concentration of 40 g/l was obtained at 18 hours of culture time. From this result, it was calculated that xylitol yield was 80ft on the basis of xylose consumption and volumetric productivity was $2.22\;g/l{\sim}hr$ which was increased by $3{\sim}4$ fold compared with $0.5{\sim}0.7\;g/l-hr$ obtained in a normal fermentation condition.

• Journal of the Korean Society of Food Culture
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• v.2 no.1
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• pp.1-8
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• 1987

In order to develop a convenient Korean food service system in commercial kitchen, processing procedure and recipe of 10 kinds of Korean food to be served as a convenient foods were decided. Moving distance and required energy of laborer in the commercial and model restaurants which have the area of $62.8m^2$ and $32.4m^2$, respectively, were measured by arranging these machinery. The results obtained were summarized as follows. In case of restaurant with the area of $62.8m^2$, moving distance, working hours and required energy of laborers were 1,922m, 2,986min and 4,704kcal in C-store, 2,134m, 3,173min and 5,001.7kcal in T-store, and 1,704m, 2,808min and 4,414.5kcal in model restaurant, respectively. Therefore energy requirements of the model restaurant were less 289.5kcal (4.5%) and 587.2kcal (10.1%) than those of C and T store. In case of restaurant with the area of $32.4m^2$, moving distance, working hours and required energy of laborer in S store were 1,277m, 2,926min and 4,588kcal, 1,425m, 3,108min and 4,873.8kcal in H restaurant and 1,167m, 2,798min and 4,381.4kcal in model restaurant, respectively. Therefore energy requirements of the model restaurant were less 206.6kcal (4.7%) and 492.4kcal (11.2%) than those of S store and H restaurant. When 6 kinds of convenient foods and 4 kinds of direct cooking foods were produced, moving distance, working hours and required energy of laborer in S store were 554.7m, 972min and 1,586.0kcal, 684.7m, 991min and 1,579.2kcal in H restaurant, 523.1m, 938min and 1,479.5kcal in model restaurant. Therefore energy requirements of the model restaurant were less 99.7kcal(6.7%) and 106.5kcal(7.2%) than those of S store and H restaurant. In case of the energy saving system kitchen, moving distance and required energy were saved less by 42% and by 20.4% than those of model kitchen, respectively.

• Journal of the Korean Society of Food Culture
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• v.2 no.1
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• pp.25-31
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• 1987

We have examined to evaluate the taste compounds of damchi-jeotguk(concentrated sea mussel extract) which is a kind of traditional processed sea food in Korea. The contents of such compounds as free amino acids, nucleotides their and related compounds, non-volatile organic acid and fatty acid composition were analyzed. The content of total free amino acids was 10520.5mg/100g on dry basis and the major ones were glycine, arginine, aspartic acid and glutamic acid. These amino acids were resulted as 55.7% of total free amino acids in damchi-jeotguk. Hypoxanthine was the highest content($8.77\;{\mu}mole/g$, dry basis) of nucleotides and their related compounds. Free amino acid-N was the most abundant, resulting 53.3% of extractive nitrogen which was 3490.2mg/100g on dry basis and next ammonia-N, nucleotide-N and TMAO-N in order. The major non-volatile organic in damchi-jeotguk were succinic acid(125.5mg/100g, dry basis) and lactic acid 91.9mg/100g, dry basis). In this fatty acid composition of total lipid, polyenoic acid was abundant holding 45.5%. The major fatty acids were 16 : 0, 18 : 2, 22 : 6, 18 : 1 and 20 : 5. It was concluded from the omission test and chemical analysis that the major taste compounds of damchi-jeotguk were free amino acids and non-volatile organic acids.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.31 no.3
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• pp.228-239
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• 1995

A model experiment on the pair midwater trawl net which is prevailing in Denmark is carried out to get the basic data available for Korean pair bottom trawlers. The model net was made in 1/30 scale considering the Tauti's Similarity law of fishing gear and the dimension of experimental tank. The vertical opening, horizontal opening, towing tension and net working depth of the model net were determined in the tank within the towing velocity 0.46~1.15m/sec, front weight 15.5~62.0g and distance between paired boats 5~8m(which correpond to 2~5k't in towing velocity, 70~280kg in weight and 150~240m in distance respectively in the prototype net). The results got from the model experiment can be converted into the full scale net as follows; 1. Vertical opening showed the largest value of 32m at the condition of 2k't in towing velocity, 280kg in front weight and 150m in the distance between paired boats, and the smallest value of 6m at the condition of 5k't in towing velocity, 70kg in front weight and 240m in the distance between paired boats. 2. Horizontal opening showed the largest value of 45m at the condition of 5k't in towing velocity, 70kg in front weight and 240m in the distance between paired boats, and the smallest value of 33m at the condition of 2k't in towing velocity, 280kg in front weight and 150m in the distance between paired boats. 3. Towing tension showed the largest value of 10, 000kg at the condition of 5k't in towing velocity, 280kg in front weight and 240m in the distance between paired boats, and the smallest value of 1, 600kg at the condition of 2k't in towing velocity, 70kg in front weight and 150m in the distance between paired boats. 4. Net working depth showed the largest value of 38m at the condition of 2k't in towing velocity, 280kg in front weight and 150m in the distance between paired boats, and the smallest value of 6m at the condition of 5k't in towing velocity, 70kg in front weight and 240m in the distance between paired boats. 5. Net opening area showed the largest value of 1, 100m super(2) at the condition of 2k't in towing velocity, 280kg in front weight and 180m in the distance between paired boats, and the smallest value of 250m super(2) at the condition of 5k't in towing velocity, 70kg in front weight and 240m in the distance between paired boats.

• Korean Journal of Food Science and Technology
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• v.10 no.3
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• pp.337-343
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• 1978

In order to develope a new kind of fermented milk, basic studies on several lactic acid bacteria and yeasts were conducted, 8 kinds of alcohol fermented milk were manufactured and sensory evaluation was undertaken. The results obtained are summarized as follows: 1. Four kinds of lactic acid bacteria were isolated, among which Y-2 strain was strongest in acid productivity and it was elucidated that acid productivity of all strains was stornger in synthetic medium than in milk medium. 2. The pH in milk medium inoculated with Y-2 strain and incubated at $30^{\circ}C$ for 24 hours was dropped from 5.8 to 3.8 and fluctuation in amino nitrogen content was found during incubation. 3. The pH in milk medium inoculated with K. fragilis and incubated at $30^{\circ}C$ for 7 days was dropped from 6.2 to 5.2 and amino nitrogen content was in the range of $0.12{\sim}0.27mg/ml$. Alcohol productivity of K. fragilis was stronger than E-2 and E-4 strain but no difference in alcohol productivity was found between milk medium and synthetic medium. 4. The repression in growth and acid productivity of lactic acid bacteria was recongnized if inoculated after inoculating yeast firstly. 5. Alcohol productivity was increased rapidly at the end of acid production of lactic acid bacteria if lactic acid bacteria if lactic acid bacteria and yeast were inoculated simultaneously. 6. Sensory evaluation showed that the product that alcohol content and acidity were 1% and 0.8% respectively had the best palatability(p<0.01). 7. Chemical composition of final product was similar to that of milk koumiss in ash, protein and moisture content.

• Journal of Nutrition and Health
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• v.44 no.1
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• pp.49-60
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• 2011

This study was performed to develop a children's dietary life safety index required by the Special Act on Safety Management of Children's Dietary Life enacted in 2009. An analytical hierarchy process was used to obtain initial weights of dietary life safety evaluation indicators. The Delphi method was applied to develop the weights along with 98 food and nutrition professionals. Three representative policy indicators, nine strategy indicators, 11 main evaluation indicators, and 20 detailed evaluation indicators were selected for the children's dietary life safety assessment. Three policy indicators and nine strategy indicators were the following: children's food safety indicator (support level of children' safety, safety management level of children's favorite foods, and safety management level of institutional food service), children's nutrition safety indicator (management level of missing meals and obesity, nutrition management level of children's favorite foods, and nutrition management level of institutional food service), and children's perception and practice level indicator ("Dietary Life Law" perception level, perception, and practice level for dietary life safety management, perception, and practice level for nutrition management). Weights of 40%, 40%, and 20% were given for the three representative policy indicators. The relative importance of nine strategic indicators, which were determined by the Delphi method is as follows: For children’s food safety, support level of children's safety, safety management level of children's favorite foods, and safety management level of institutional food service were given weights of 12%, 9%, and 19%, respectively. For children's nutrition safety, the missing meals and obesity management level, nutrition management level of children's favorite foods, and the nutrition management level of institutional food service were given weights of 13%, 11%, and 16%, respectively. The "Dietary Life Law" perception level, perception and practice level of dietary life safety management, and perception and practice level of nutrition management were given weights of 4%, 7%, and 9%, respectively.

• Journal of Nutrition and Health
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• v.51 no.1
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• pp.87-102
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• 2018

Purpose: The purpose of this study was to develop a valid instrument for measuring the dietary quality and behaviors of Korean elderly. Methods: The development of the Nutrition Quotient for Elderly (NQ-E) was conducted in three steps: item generation, item reduction, and validation. The 41 items of the NQ-E checklist were derived from a systematic literature review, expert in-depth interviews, statistical analyses of the fifth Korean National Health and Nutrition Examination Survey data, and national nutrition policies and recommendations. Pearson's correlation was used to determine the level of agreement between the questionnaires and nutrient intake level, and 24 items were selected for a nationwide survey. A total of 1,000 nationwide elderly subjects completed the checklist questionnaire. The construct validity of the NQ-E was assessed using confirmatory factor analysis, LISREL. Results: The nineteen checklist items were used as final items for NQ-E. Checklist items were composed of four-factors: food behavior (6 items), balance (4 items), diversity (6 items), and moderation (3 items). The standardized path coefficients were used as the weights of the items. The NQ-E and four-factor scores were calculated according to the obtained weights of the questionnaire items. Conclusion: NQ-E would be a useful tool for assessing the food behavior and dietary quality of the elderly.

• Korean Journal of Fisheries and Aquatic Sciences
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• v.31 no.4
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• pp.594-598
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• 1998

In this study oxidative deterioration of dried sea mussel and baby clam stored at $4{\pm}2^{\circ}C$ and $25{\pm}2^{\circ}C$ were investigated. Acid value of samples were higher at $25^{\circ}C$ than those at $4^{\circ}C$ throughout the storage period. And it was higher in dried baby clam than in sea mussel regardless of storage temperatures. Peroxide value of dried sea mussel and baby clam stored at $25^{\circ}C$ tended to decrease after 30 and 60 days, respectively. Thiobarbituric acid and carbonyl value of samples stored at $4^{\circ}C$ were higher than those stored at $25^{\circ}C$ throughout the storage period. In case of sea mussel, However they were lower stored at $4^{\circ}C$ than at $25^{\circ}C$ in 30 days. Amino nitrogen increased until 60 days and then decreased in all samples. Fluorescence intensity associated with interaction between carbonyl compound and amino compound was increased with storage temperature and time but it decreased slowly after 60 days.