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A Study on the Efficiency of the North Korean Foreign Economy Arbitration Law (북한 대외경제중재법의 실효성 고찰)

  • Kim, Suk-Chul
    • Journal of Arbitration Studies
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    • v.18 no.1
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    • pp.167-184
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    • 2008
  • The economic cooperation between the South and North Koreas is a very important issue for the unification and economic development of both Koreas. In order to reach a successful economic cooperation, there is a need to coordinate the differences of the two countries before unification. The economic cooperation and the cooperation in other sectors will be followed by the entire unification. It is necessary to prepare a mechanism that could peacefully solve the conflicts and disputes that could arise during the actual process of cooperation, which will secure stable investments and trades. The study on the possibility of introducing the arbitration system as a conflict solving mechanism between the two Koreas is a very important subject, and the basis of this study is on the examination of the arbitration laws of North Korea. Therefore, the study on the efficiency of the North Korean arbitration laws on foreign economy is studying the possibility of a systematical solution to economic conflicts between the South and North Koreas. The problems and possible solutions of the North Korean foreign economy arbitration laws are summarized as follows. First, juridical cooperation system for both South and North courts of justice needs to be set up to smoothly carry out the main procedures. Mutual correspondence and telecommunication needs to be guaranteed, also remittance and the movement of goods shall precede. Second, the free liquidation of businesses by unit and the individual and independent management of wealth of the North Korean economic bodies, organizations and businesses shall precede to independently liquidate wealth and thus make arbitration possible. Third, amendments in the North Korea's foreign economy arbitration law shall be made to some parts of regulations on arbitration agreements and specific contents of written arbitration agreements to avoid conflicts regarding arbitration agreement. Fourth, the members of the North Korean arbitration committee shall impartially manage the committee only without taking the role of arbitrator, and the clause that allows the North Korean committee to nominate the arbitrator shall be erased. In case an agreement regarding the number of arbitrators is not reached, the three arbitrators general rule shall be applied. In case of requests from any of the parties, a third country arbitrator nomination shall be guaranteed. Also, the requested arbitrator by the party shall be nominated with the cooperation of the court. Fifth, the trial in case of non-appearance or written trial shall be added to the North Korean law in to prevent intended negligence or evasion. Sixth, regulations regarding the court's investigation of evidence shall be added to the North Korean law to make fair arbitration possible in case that government power is needed in order to investigate evidence. Seventh, provisions regarding majority decision shall be added in the North Korean law in the impossibility of unanimous decisions, and the certified system in the arbitration committee official text shall be erased to prevent arrogation and assure the power of the decision made by the arbitration government. Eighth, as "the wrong decision approved" reason for cancellation of arbitration in the North Korean law includes the content of the decision made by the arbitrator could lead to uselessness of arbitration, amendment will be necessary to limit it to legitimacy of the arbitration agreement and wrong procedures. It is hoped that this thesis will be of important use in understanding the issues on the workability and the solutions to the South and North Koreas' arbitration that could be presented during the negotiations for the countries' economic cooperation.

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Characterizing the Spatial Distribution of Oak Wilt Disease Using Remote Sensing Data (원격탐사자료를 이용한 참나무시들음병 피해목의 공간분포특성 분석)

  • Cha, Sungeun;Lee, Woo-Kyun;Kim, Moonil;Lee, Sle-Gee;Jo, Hyun-Woo;Choi, Won-Il
    • Journal of Korean Society of Forest Science
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    • v.106 no.3
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    • pp.310-319
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    • 2017
  • This study categorized the damaged trees by Supervised Classification using time-series-aerial photographs of Bukhan, Cheonggae and Suri mountains because oak wilt disease seemed to be concentrated in the metropolitan regions. In order to analyze the spatial characteristics of the damaged areas, the geographical characteristics such as elevation and slope were statistically analyzed to confirm their strong correlation. Based on the results from the statistical analysis of Moran's I, we have retrieved the following: (i) the value of Moran's I in Bukhan mountain is estimated to be 0.25, 0.32, and 0.24 in 2009, 2010 and 2012, respectively. (ii) the value of Moran's I in Cheonggye mountain estimated to be 0.26, 0.32 and 0.22 in 2010, 2012 and 2014, respectively and (iii) the value of Moran's I in Suri mountain estimated to be 0.42 and 0.42 in 2012 and 2014. respectively. These numbers suggest that the damaged trees are distributed in clusters. In addition, we conducted hotspot analysis to identify how the damaged tree clusters shift over time and we were able to verify that hotspots move in time series. According to our research outcome from the analysis of the entire hotspot areas (z-score>1.65), there were 80 percent probability of oak wilt disease occurring in the broadleaf or mixed-stand forests with elevation of 200~400 m and slope of 20~40 degrees. This result indicates that oak wilt disease hotspots can occur or shift into areas with the above geographical features or forest conditions. Therefore, this research outcome can be used as a basic resource when predicting the oak wilt disease spread-patterns, and it can also prevent disease and insect pest related harms to assist the policy makers to better implement the necessary solutions.

Dental Fear Level according to Oral Symptom Awareness in College Students (일부 대학생들의 구강 내 증후증상 인식과 치과공포수준)

  • Yoon, Hyun-Seo
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.17 no.12
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    • pp.198-204
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    • 2016
  • This research studied the relevance of oral symptoms and fear to find solutions for prevention and treatment at the right time. The study was conducted over a three-month period from September to November 2015. College students who lived in the region of Busan were surveyed, and the data from 288 respondents were analyzed. The female students felt a higher level of fear in every item than the males. To be specific, there were statistically significant differences in postponing the appointment (p=0.014), tension during treatment (p=0.001), dread when making the appointment (p=0.001), dread upon arrival (p=0.001), dread in the waiting room (p=0.001), dread of dental smells (p=0.006), dread while undergoing anesthesia (p<0.001), dread when receiving an injection (p<0.001), dread when looking at a tool for tooth preparation (p<0.001), dread of the sound of a tool for tooth preparation (p<0.001), dread of the feelings of tooth preparation (p<0.001), dread during scaling(p<0.001), and apprehension about the entire treatment (p<0.001). Concerning the fear level according to oral symptom awareness, the respondents with dental caries experienced a higher level of fear in terms of treatment avoidance (p=0.001), physiological reactions (p=0.001) and overall Dental Fear Survey (DFS)(p=0.003), and the students whose teeth were broken had a higher level of fear in terms of treatment avoidance (p=0.010), stimulus factors (p=0.031) and overall DFS (P=0.019). The students who had a missing tooth felt a higher level of fear in terms of physiological reactions (p=0.019) and overall DFS (p=0.033), and the respondents with gingival pain felt a higher level of pain in terms of the stimulus factors (p=0.013) and overall DFS (p=0.034). Therefore, college students should be educated to visit a dental clinic when they are aware of any oral symptom, and methods to reduce the stimulus factors as much as possible should be considered carefully to relieve dental fear.

Effects of aminoethoxyvinylglycine (AVG) and 1-methylcyclopropene (1-MCP) treatments on fruit quality attributes in cold-stored 'Jonathan' apples (수확 후 aminoethoxyvinylglycine(AVG)와 1-methylcyclopropene(1-MCP) 처리가 '홍옥' 사과의 저온저장 중 과실품질에 미치는 영향)

  • Park, Jun-yeun;Kim, Kyoung-ook;Yoo, Jingi;Win, Nay Myo;Lee, Jinwook;Choung, Myoung-Gun;Jung, Hee-Young;Kang, In-Kyu
    • Food Science and Preservation
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    • v.23 no.4
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    • pp.453-458
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    • 2016
  • 'Jonathan' apples are relatively small size which contributes to enhancing fruit consumption and gaining popularity. Thus, this study was carried out to evaluate the effects of AVG (aminoethoxyvinylglycine, ReTain$^{(R)}$), sprayable 1-MCP (1-methylcyclopropene, Harvista$^{TM}$), and fumigation 1-MCP (SmartFresh$^{TM}$) applications on fruit quality attributes and storability in 'Jonathan' apple fruits during cold-stored. The Jonathan fruits were dipped with either ReTain (75 mg/L) or Harvista (125 mg/L) solutions for 5 min, or fumigated with SmartFresh (1 mg/L) for 18 hr before storage at $0{\pm}1^{\circ}C$ for 75 days. Flesh firmness and titratable acidity remained higher in all pre-treated apples than control ones during cold storage period. Flesh firmness was higher for apples treated with ReTain and SmartFresh than samples treated with Harvista, while soluble solid content and respiration rate were not affected by sample pretreatment. Internal ethylene concentration (IEC) of all pretreated apples remained below about $4.5{\mu}L/L$ during the entire storage period while that of control sample greatly increased to $10.29{\mu}L/L$. Ethylene production was much higher in control fruits than in treated ones during cold storage. These results indicated that ReTain and 1-MCP treatments would be considerably effective in retention of fruit quality attributes of 'Jonathan' apple during cold-stored.

A Study on Emergence of Innovative Retailing and Its Development Process (혁신적인 소매업태의 출현과 발전과정에 관한 연구)

  • Park, Chul-Ju;Jeong, Tae-Seok
    • Journal of Distribution Science
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    • v.9 no.1
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    • pp.29-38
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    • 2011
  • Since a distribution market was opened in 1993 after the conclusion of the Uruguay Round (UR), various new businesses emerged in the Korean retail industry, such as convenience shops, supermarkets, specialty stores, non-store marketing methods, and cyber shopping malls, in addition to traditional markets and department stores. Competition among these retail businesses has intensified. According to the National Statistical Office (NSO), the growth rate of the total retail industry has shown a 32% increase in the past 5 years. While department stores, supermarkets, specialty stores, and other non-store retailing venues have shown signs of stagnation at a growth rate of 20-30%, which is similar to the growth rate of the entire retail industry, convenience shops and non-store marketing have shown 60-70% growth over the same period. By comparison, the growth rate of cyber shopping malls has nearly tripled. When applying development aspects of retail businesses through the competition to the retail life cycle, mom-and-pop stores and traditional markets have already entered the decline phase as specialty stores reach their maturity phase and demonstrate their limit of growth. Department stores are now in the latter part of the growth phase, which is still considered to have some growth potential. Big super markets are still in the early part of their growth stage although they were introduced 20 years ago. Meanwhile, retail businesses such as convenience stores, supermarkets, mail order houses, and warehouse stores are entering the middle growth phase and are expected to continue with their quantitative growth. At a time when most retail businesses in Korea are in a state of development or in the full growth stage, what kind of new innovative retailing will appear and develop? Moreover, what growth engine will drive it? This study analyzes the appearance of innovative retailing and its development process by establishing a discussable consumer's choice model through the interlocking mutual behavior of differentiated competitiveness and consumers' choice based on an awareness of this issue. The analysis of the results of this study can be summarized as follows. First, if a new vacuum zone emerges at the retail market level, innovative retailing such as low price/low service or high price/high service will emerge simultaneously. Second, if the number of new businesses in the vacuum zone increases, this will create competitiveness among the businesses, and each retailer will develop raising of level. Third, if a new business that raises the level develops, competition between the new and the existing retailer will occur, and an assimilation process between the existing retailing and the new retailing will be unfolded. Fourth, each retailing will promote distribution innovations in order to break the frontier of the existing distribution technology, and other retailing will follow the innovator. On the basis of an analysis of the abovementioned results, this study presents the following three suggestions. First, responding to the consumer's decision-making process on the attributes of retail shops that promote differentiation in strategies, this study established a consumer's choice model that can be discussed in relation to changes in market share. Second, this study provided an analysis of the emerging and developmental processes of innovative retail businesses using a more precise logical structure on the basis of the consumer's choice model described in this study. Third, the development process of retail businesses discussed in this study presented retailing solutions regarding management aspects on how to compose a strong retail mix that can help retail businesses gain competitive advantages in the market.

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The Effect of Herding Behavior and Perceived Usefulness on Intention to Purchase e-Learning Content: Comparison Analysis by Purchase Experience (무리행동과 지각된 유용성이 이러닝 컨텐츠 구매의도에 미치는 영향: 구매경험에 의한 비교분석)

  • Yoo, Chul-Woo;Kim, Yang-Jin;Moon, Jung-Hoon;Choe, Young-Chan
    • Asia pacific journal of information systems
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    • v.18 no.4
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    • pp.105-130
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    • 2008
  • Consumers of e-learning market differ from those of other markets in that they are replaced in a specific time scale. For example, e-learning contents aimed at highschool senior students cannot be consumed by a specific consumer over the designated period of time. Hence e-learning service providers need to attract new groups of students every year. Due to lack of information on products designed for continuously emerging consumers, the consumers face difficulties in making rational decisions in a short time period. Increased uncertainty of product purchase leads customers to herding behaviors to obtain information of the product from others and imitate them. Taking into consideration of these features of e-learning market, this study will focus on the online herding behavior in purchasing e-learning contents. There is no definite concept for e-learning. However, it is being discussed in a wide range of perspectives from educational engineering to management to e-business etc. Based upon the existing studies, we identify two main view-points regarding e-learning. The first defines e-learning as a concept that includes existing terminologies, such as CBT (Computer Based Training), WBT (Web Based Training), and IBT (Internet Based Training). In this view, e-learning utilizes IT in order to support professors and a part of or entire education systems. In the second perspective, e-learning is defined as the usage of Internet technology to deliver diverse intelligence and achievement enhancing solutions. In other words, only the educations that are done through the Internet and network can be classified as e-learning. We take the second definition of e-learning for our working definition. The main goal of this study is to investigate what factors affect consumer intention to purchase e-learning contents and to identify the differential impact of the factors between consumers with purchase experience and those without the experience. To accomplish the goal of this study, it focuses on herding behavior and perceived usefulness as antecedents to behavioral intention. The proposed research model in the study extends the Technology Acceptance Model by adding herding behavior and usability to take into account the unique characteristics of e-learning content market and e-learning systems use, respectively. The current study also includes consumer experience with e-learning content purchase because the previous experience is believed to affect purchasing intention when consumers buy experience goods or services. Previous studies on e-learning did not consider the characteristics of e-learning contents market and the differential impact of consumer experience on the relationship between the antecedents and behavioral intention, which is the target of this study. This study employs a survey method to empirically test the proposed research model. A survey questionnaire was developed and distributed to 629 informants. 528 responses were collected, which consist of potential customer group (n = 133) and experienced customer group (n = 395). The data were analyzed using PLS method, a structural equation modeling method. Overall, both herding behavior and perceived usefulness influence consumer intention to purchase e-learning contents. In detail, in the case of potential customer group, herding behavior has stronger effect on purchase intention than does perceived usefulness. However, in the case of shopping-experienced customer group, perceived usefulness has stronger effect than does herding behavior. In sum, the results of the analysis show that with regard to purchasing experience, perceived usefulness and herding behavior had differential effects upon the purchase of e-learning contents. As a follow-up analysis, the interaction effects of the number of purchase transaction and herding behavior/perceived usefulness on purchase intention were investigated. The results show that there are no interaction effects. This study contributes to the literature in a couple of ways. From a theoretical perspective, this study examined and showed evidence that the characteristics of e-learning market such as continuous renewal of consumers and thus high uncertainty and individual experiences are important factors to be considered when the purchase intention of e-learning content is studied. This study can be used as a basis for future studies on e-learning success. From a practical perspective, this study provides several important implications on what types of marketing strategies e-learning companies need to build. The bottom lines of these strategies include target group attraction, word-of-mouth management, enhancement of web site usability quality, etc. The limitations of this study are also discussed for future studies.

Application of Reused Powdered Waste Containing Aluminum Oxide on the Treatment of Cr(VI) (6가 크롬 처리를 위한 알루미늄 산화물을 함유한 재생 분말 폐기물의 적용)

  • Lim, Jae-Woo;Kim, Tae-Hwan;Kang, Hyung-Sik;Kim, Do-Son;Kim, Han-Seon;Cho, Seok-Hee;Yang, Jae-Kyu;Chang, Yoon-Young
    • Journal of Korean Society of Environmental Engineers
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    • v.31 no.3
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    • pp.179-185
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    • 2009
  • In this research, the removal capacity of Cr(VI) by the reused powdered wastes (RPW) containing aluminium oxides was studied. As a pre-treatment process for the preparation of calcined wastes, calcination was conducted at $550^{\circ}C$ to remove organic fraction in the raw wastes. In order to study the adsorption trend of Cr(VI) ions from aqueous solutions, the pH-edge adsorption, adsorption kinetic and adsorption isotherm were investigated using a batch reactor in the presence of four different background electrolytes($NO_3\;^-,\;CO_3\;^{2-},\;SO_4\;^{2-},\;PO_4\;^{3-}$). Cr(VI) adsorption was greatly reduced in the presence of $SO_4\;^{2-}$ and $PO_4\;^{3-}$ over the entire pH range. Meanwhile the inhibition effect by $NO_3\;^-$ and $CO_3\;^{2-}$ was relatively lower than that by $SO_4\;^{2-}$ and $PO_4\;^{3-}$. Cr(VI) adsorption was maximum around pH 4.5 in the presence of $NO_3\;^-$ and $CO_3\;^{2-}$. As the concentration of background electrolytes increased, Cr(VI) adsorption decreased. This result mightly suggests that adsorption between the surface of RPW and Cr(VI) occurs through outer-sphere complex. Cr(VI) adsorption onto the RPW was well described by second-order kinetics. From the Langmuir isotherm at initial pH 3, the maximum adsorbed amount of Cr(VI) onto the RPW was 11.1, 10, 3.3, 5 mg/g in the presence of $NO_3\;^-,\;CO_3\;^{2-},\;SO_4\;^{2-}$, and $PO_4\;^{3-}$, respectively.

Nammyeong Jo-Sik's Practical Social Reformism (남명 조식의 현실적 사회개혁론 - 경(敬)·의(義)를 중심으로 -)

  • Lee, mi rim
    • The Journal of Korean Philosophical History
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    • no.39
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    • pp.29-52
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    • 2013
  • Philosophy of respect righteousness advocated by Nammyung points to what first needs to be done to drive social changes. It is consistent with the Confucianism, which views the world from within oneself. After all, developing a proper view of the society starts from looking at oneself in the right perspective. The view that personal cultivation can develop into cultivation and eventually reform of the entire society is also present in Confucius' belief that one can only be at peace after disciplining oneself and observe good manners only after perseverance. Also, one can lead the world in peace only after disciplining one's body and mind. In other words, it suggests that individuals and the community where they belong to are not independent from one another. Rather, individuals gather to create a society and righteous individuals are the basis for righteous society. These principles of social system in Confucianism can be understood as a mutual or layered division and integration. The society is not conflicted with individuals or the nation but rather perceived as moral communities to co-exist. Hence, power of execution observed in the philosophy of respect and righteousness by Nammyung is identical to power of execution applied to the society. The power of execution shows up as 'the execution of righteousness' in Nammyung's philosophy of respect and righteousness. It is also demonstrated in the acts by Nammyung's disciples when the nation was at crisis. This is what differentiates Nammyung's new-Confucianism in Joseon Dynasty from Toegye or Yulgok as he tried to deliver 'the execution of righteousness.' It does not mean that neo-Confucian scholars did not emphasize the importance of execution, but Nammyung, in particular, warned how deceitful ideological or inner-directed thinking can be since they fail to come up with concrete solutions to social issues. In summary, Nammyung's moral discipline and training based on respect and righteousness cannot be evaluated in a state of vacuum separate from social and historical aspects but under the context of enlightening virtue and social execution. This can draw the conclusion that Nammyung's execution of respect and righteousness is in the starting point of the realistic 'theory of social reform' for creating a better world.

A Study on the Reconfiguration Effect of Busan Port Operator in Logistics Environment (물류환경변화에 따른 부산항 운영사 재구성효과에 관한 실증연구)

  • Park, Ho-Chul;Lee, Sung-Yhun;Ahn, Ki-Myung
    • Journal of Navigation and Port Research
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    • v.42 no.6
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    • pp.507-517
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    • 2018
  • The probability of T/S cargo volume to decrease is the most notable problem associated with inappropriate mix of terminal operators in Busan port. Other problems include, the deterioration of the national carriers' competitiveness from non-operation of own terminal, excessively high proportion of financial operators in the engagement of operation which may result in their passiveness in timely investment, additional cost burden to carriers' in the handling inter-terminal T/S cargo transportation and inefficiency in terminal operation by the multiplicity of operators proved to be same recognized as so through the analysis. Therefore, in order to provide solutions for the problems and to strengthen Busan port's competitiveness, this research suggests the restructuring of operators mix as follows. To achieve sustainable growth of T/S cargo, global carriers' participation in terminal operation should be of utmost priority. To enhance the operational efficiency, the operators should be integrated. Similarly, the integration of operators will play a key role in verifying that national carriers' own terminal operation is an important factor in raising its competence. Finally, BPA's active engagement in the entire operation of port is also critical in public-oriented operation of the port. Whereas in the interactive analysis by taking the merits of Busan port into consideraion, global carrier's participation in operation, integration of operators and BPA's engagement in operation proved to contribute to the increase of T/S cargo and strengthening of operational efficiencies of Busan port.

Ensemble Learning with Support Vector Machines for Bond Rating (회사채 신용등급 예측을 위한 SVM 앙상블학습)

  • Kim, Myoung-Jong
    • Journal of Intelligence and Information Systems
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    • v.18 no.2
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    • pp.29-45
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    • 2012
  • Bond rating is regarded as an important event for measuring financial risk of companies and for determining the investment returns of investors. As a result, it has been a popular research topic for researchers to predict companies' credit ratings by applying statistical and machine learning techniques. The statistical techniques, including multiple regression, multiple discriminant analysis (MDA), logistic models (LOGIT), and probit analysis, have been traditionally used in bond rating. However, one major drawback is that it should be based on strict assumptions. Such strict assumptions include linearity, normality, independence among predictor variables and pre-existing functional forms relating the criterion variablesand the predictor variables. Those strict assumptions of traditional statistics have limited their application to the real world. Machine learning techniques also used in bond rating prediction models include decision trees (DT), neural networks (NN), and Support Vector Machine (SVM). Especially, SVM is recognized as a new and promising classification and regression analysis method. SVM learns a separating hyperplane that can maximize the margin between two categories. SVM is simple enough to be analyzed mathematical, and leads to high performance in practical applications. SVM implements the structuralrisk minimization principle and searches to minimize an upper bound of the generalization error. In addition, the solution of SVM may be a global optimum and thus, overfitting is unlikely to occur with SVM. In addition, SVM does not require too many data sample for training since it builds prediction models by only using some representative sample near the boundaries called support vectors. A number of experimental researches have indicated that SVM has been successfully applied in a variety of pattern recognition fields. However, there are three major drawbacks that can be potential causes for degrading SVM's performance. First, SVM is originally proposed for solving binary-class classification problems. Methods for combining SVMs for multi-class classification such as One-Against-One, One-Against-All have been proposed, but they do not improve the performance in multi-class classification problem as much as SVM for binary-class classification. Second, approximation algorithms (e.g. decomposition methods, sequential minimal optimization algorithm) could be used for effective multi-class computation to reduce computation time, but it could deteriorate classification performance. Third, the difficulty in multi-class prediction problems is in data imbalance problem that can occur when the number of instances in one class greatly outnumbers the number of instances in the other class. Such data sets often cause a default classifier to be built due to skewed boundary and thus the reduction in the classification accuracy of such a classifier. SVM ensemble learning is one of machine learning methods to cope with the above drawbacks. Ensemble learning is a method for improving the performance of classification and prediction algorithms. AdaBoost is one of the widely used ensemble learning techniques. It constructs a composite classifier by sequentially training classifiers while increasing weight on the misclassified observations through iterations. The observations that are incorrectly predicted by previous classifiers are chosen more often than examples that are correctly predicted. Thus Boosting attempts to produce new classifiers that are better able to predict examples for which the current ensemble's performance is poor. In this way, it can reinforce the training of the misclassified observations of the minority class. This paper proposes a multiclass Geometric Mean-based Boosting (MGM-Boost) to resolve multiclass prediction problem. Since MGM-Boost introduces the notion of geometric mean into AdaBoost, it can perform learning process considering the geometric mean-based accuracy and errors of multiclass. This study applies MGM-Boost to the real-world bond rating case for Korean companies to examine the feasibility of MGM-Boost. 10-fold cross validations for threetimes with different random seeds are performed in order to ensure that the comparison among three different classifiers does not happen by chance. For each of 10-fold cross validation, the entire data set is first partitioned into tenequal-sized sets, and then each set is in turn used as the test set while the classifier trains on the other nine sets. That is, cross-validated folds have been tested independently of each algorithm. Through these steps, we have obtained the results for classifiers on each of the 30 experiments. In the comparison of arithmetic mean-based prediction accuracy between individual classifiers, MGM-Boost (52.95%) shows higher prediction accuracy than both AdaBoost (51.69%) and SVM (49.47%). MGM-Boost (28.12%) also shows the higher prediction accuracy than AdaBoost (24.65%) and SVM (15.42%)in terms of geometric mean-based prediction accuracy. T-test is used to examine whether the performance of each classifiers for 30 folds is significantly different. The results indicate that performance of MGM-Boost is significantly different from AdaBoost and SVM classifiers at 1% level. These results mean that MGM-Boost can provide robust and stable solutions to multi-classproblems such as bond rating.