• Journal of Intelligence and Information Systems
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• v.17 no.3
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• pp.187-201
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• 2011

KOSPI200 index is the Korean stock price index consisting of actively traded 200 stocks in the Korean stock market. Its base value of 100 was set on January 3, 1990. The Korea Exchange (KRX) developed derivatives markets on the KOSPI200 index. KOSPI200 index futures market, introduced in 1996, has become one of the most actively traded indexes markets in the world. Traders can make profit by entering a long position on the KOSPI200 index futures contract if the KOSPI200 index will rise in the future. Likewise, they can make profit by entering a short position if the KOSPI200 index will decline in the future. Basically, KOSPI200 index futures trading is a short-term zero-sum game and therefore most futures traders are using technical indicators. Advanced traders make stable profits by using system trading technique, also known as algorithm trading. Algorithm trading uses computer programs for receiving real-time stock market data, analyzing stock price movements with various technical indicators and automatically entering trading orders such as timing, price or quantity of the order without any human intervention. Recent studies have shown the usefulness of artificial intelligent systems in forecasting stock prices or investment risk. KOSPI200 index data is numerical time-series data which is a sequence of data points measured at successive uniform time intervals such as minute, day, week or month. KOSPI200 index futures traders use technical analysis to find out some patterns on the time-series chart. Although there are many technical indicators, their results indicate the market states among bull, bear and flat. Most strategies based on technical analysis are divided into trend following strategy and non-trend following strategy. Both strategies decide the market states based on the patterns of the KOSPI200 index time-series data. This goes well with Markov model (MM). Everybody knows that the next price is upper or lower than the last price or similar to the last price, and knows that the next price is influenced by the last price. However, nobody knows the exact status of the next price whether it goes up or down or flat. So, hidden Markov model (HMM) is better fitted than MM. HMM is divided into discrete HMM (DHMM) and continuous HMM (CHMM). The only difference between DHMM and CHMM is in their representation of state probabilities. DHMM uses discrete probability density function and CHMM uses continuous probability density function such as Gaussian Mixture Model. KOSPI200 index values are real number and these follow a continuous probability density function, so CHMM is proper than DHMM for the KOSPI200 index. In this paper, we present an artificial intelligent trading system based on CHMM for the KOSPI200 index futures system traders. Traders have experienced on technical trading for the KOSPI200 index futures market ever since the introduction of the KOSPI200 index futures market. They have applied many strategies to make profit in trading the KOSPI200 index futures. Some strategies are based on technical indicators such as moving averages or stochastics, and others are based on candlestick patterns such as three outside up, three outside down, harami or doji star. We show a trading system of moving average cross strategy based on CHMM, and we compare it to a traditional algorithmic trading system. We set the parameter values of moving averages at common values used by market practitioners. Empirical results are presented to compare the simulation performance with the traditional algorithmic trading system using long-term daily KOSPI200 index data of more than 20 years. Our suggested trading system shows higher trading performance than naive system trading.

• Journal of the Korean Society for Marine Environment & Energy
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• v.15 no.3
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• pp.263-272
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• 2012

Carbon dioxide, emitted by human activities since the industrial revolution, is regarded as a major contributor of global warming. There are many efforts to mitigate climate change, and carbon dioxide capture and geological storage (CCS) is recognized as one of key technologies because it can reduce carbon dioxide emissions from large point sources such as a power station or other industrial installation. The inclusion of CCS as clean development mechanism (CDM) project activities has been considered at UNFCCC as financial incentive mechanisms for those developing countries that may wish to deploy the CCS. Although the Conference of the Parties serving as the Meeting of the Parties to the UNFCCC's Kyoto Protocol (CMP), at Cancun in December 2010, decided that CCS is eligible as CDM project activities, the issues identified in decision 2/CMP.5 should be addressed and resolved in a satisfactory manner. Major issues regarding modalities and procedure are 1) Site selection, 2) Monitoring, 3) Modeling, 4) Boundaries, 5) Seepage Measuring and Accounting, 6) Trans-Boundary Effects, 7) Accounting of Associated Project Emissions (Leakage), 8) Risk and Safety Assessment, and 9) Liability Under the CDM Scheme. The CMP, by its decision 7/CMP.6, invited Parties to submit their views to the secretariat of Subsidiary Body for Scientific and Technological Advice (SBSTA), SBSTA prepared a draft modalities and procedure by exchanging views of Parties through workshop held in Abu Dhabi, UAE (September 2011). The 7th CMP (Durban, December 2011) finally adopted the modalities and procedures for CCS as CDM project activities (CMP[2011], Decision-/CMP.7). The inclusion of CCS as CDM project activities means that CCS is officially accredited as one of $CO_2$ reducing technologies in global carbon market. Consequently, it will affect relevant technologies and industry as well as law and policy in Korea and aboard countries. This paper presents a progress made on discussion and challenges regarding the issue, and aims to suggest some considerations to policy makers in Korea in order to demonstrate and deploy the CCS project in the near future. According to the adopted modalities and procedures for CCS as CDM project activities, it is possible to implement relevant CCS projects in Non-Annex I countries, including Korea, as long as legal and regulatory frameworks are established. Though Korea enacted 'Framework Act on Low Carbon, Green Growth', the details are too inadequate to content the requirements of modalities and procedures for CCS as CDM project. Therefore, it is required not only to amend the existing laws related with capture, transport, and storage of $CO_2$ for paving the way of an prompt deployment of CCS CDM activities in Korea as a short-term approach, but also to establish the united framework as a long-term approach.

• The Journal of Korean Society for Radiation Therapy
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• v.17 no.2
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• pp.87-94
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• 2005

Purpose : Heavy metal use when producing the block from the workshop. At this time, production of heavy metal dust and fume gives risk in human. This like heavy metal to improve seriousness through measurement and analysis. And by the quest in solution is purpose of this thesis. Materials and Methods : Organization is Inductively Coupled Plasma Atomic Emission Spectrometer, and the object is Deajeon city 4 workshops in university hospital radiation oncology (Bismuth, Lead, Tin and cadmium). Method is the ppb the pumping it does at unit, comparison analysis. And the Calculation heavy metal standard level in air through heavy metal standard level in body and blood, so Heavy metal temporary standard set. Results : Subterranean existence room air quality the administration laws appointed Lead and Cadmium's exposure recommend that it is $3{\mu}g/m^3\;and\;2{\mu}g/m^3$. And Bismuth and Tin decides $7{\mu}g/m^3\;and\;6{\mu}g/m^3$ through standard level in air heavy metal and standard level in body and blood. Heavy metal measurement level of workshops in 4 university hospital Daejeon city compares with work existence and nonexistence. On work nonexistence almost measurement level is below the recommend level. But work existence case express high level. Also consequently in composition ratio of the block is continuous with the detection ratio. Conclusion : Worker's heavy metal contamination imbrued serious for solution founds basic part. In hospital may operation on local air exhauster and periodical efficiency check, protector offer, et al. And worker have a correct understanding part of heavy metal contamination, and have continuous interest, health control. Finally, learned society sphere administer to establishment standard level and periodical measurement. And it founds basic solution plan of periodical special health checkup.

• Korean Security Journal
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• no.7
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• pp.95-124
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• 2004

It can be said that 'the September 11th Terrorist Attacks' in 2001 were not only the indiscriminate attacks on innocent people but also the whole - political, economical and military - attacks on human life. Also, 'the September 11th Terrorist Attacks' can be regarded as the significant events in the history of world, which were on the peak of the super-terrorism or new-terrorism that had emerged from the 1980s. However, if one would have analysed the developments of terrorism from the 1970s, they could have been foreknown without difficulty. The finding from this study can be summarized as the followings, First, in spite that the USA responsive system against terrorism had been assessed as perfect before 'the September 11th Terrorist Attacks', the fragilities were found in the aspects of the response on the new-terrorism or super-terrorism. The previous responsive system before 'the September 11th Terrorist Attacks' had the following defects as the followings: (1) it was impossible to establish the integrated strategy, because the organizations related to the response against terrorism had not integrated; (2) there were some weakness to collect and diffuse the informations related to terrorism; (3) the security system for the domestic airline service in USA and the responsive system of air defense against terrors on aircraft were very fragile. For these reasons, USA government established the 'Department of Homeland Security' of which the President is the head so that the many organizations related to terrorism were integrated into a single management system. And, it legislated a new act to protect security from terrors, which legalized of the wiretapping in spite of the risk of encroachment upon personal rights, increased the jail terms upon terrorists, froze the bank related to terrorist organization, and could censor e-mails. Second, it seem that Korean responsive system against terrors more fragile than that of USA. One of the reasons is that people have some perception that Korea is a safe zone from terrors, because there were little attacks from international terrorists in Korea. This can be found from the fact that the legal arrangement against terrorism is only the President's instruction No. 47. Under this responsive system against terrorism dependent on only the President's instruction, it is expected that there would be a poor response against terrors due to the lack of unified and integrated responsive agency as like the case of USA before 'the September 11th Terrorist Attacks'. And, where there is no legal countermeasure, it is impossible to expect the binding force on the outside of administrative agencies and the performances to prevent and hinder the terrorist actions can not but be limited. That is to say, the current responsive system can not counteract effectively against the new-terrorism and super-terrorism. Third, although there were some changes in Korean government's policies against terrorism. there still are problems. One of the most important problems is that the new responsive system against terrorism in Korea, different from that of USA, is not a permanent agency but a meeting body that is organized by a commission. This commission is controled by the Prime Minister and the substantial tasks are under the National Intelligence Service. Under this configuration, there can be the lack of strong leadership and control. Additionally, because there is no statute to response against terrorism, it is impossible to prevent and counteract effectively against terrorism. The above summarized suggests that, because the contemporary super-terrorism or new-terrorism makes numerous casualties of unspecified persons and enormous nationwide damages, the thorough prevention against terrorism is the most important challenge, and that the full range of legal and institutional arrangements for the ex post counteraction should be established. In order to do so, it is necessary for the government to make legal and institutional arrangements such as the permanent agency for protection from terrorism in which the related departments cooperates with together and the development of efficient anti-terror programs, and to show its willingness and ability that it can counteract upon any type of domestic and foreign terrorism so that obtain the active supports and confidence from citizens.

• Journal of the Korean Geographical Society
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• v.41 no.1 s.112
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• pp.106-120
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• 2006

Natural or man-made disaster has been expected to be one of the potential themes that can integrate human geography and physical geography. Typhoons like Rusa and Maemi caused great loss to insurance companies as well as public sectors. We have implemented a natural disaster management system for a private insurance company to produce better estimation of hazards from high wind as well as calculate vulnerability of damage. Climatic gauge sites and addresses of contract's objects were geo-coded and the pressure values along all the typhoon tracks were vectorized into line objects. National GIS topog raphic maps with scale of 1: 5,000 were updated into base maps and digital elevation model with 30 meter space and land cover maps were used for reflecting roughness of land to wind velocity. All the data are converted to grid coverage with $1km{\times}1km$. Vulnerability curve of Munich Re was ad opted, and preprocessor and postprocessor of wind velocity model was implemented. Overlapping the location of contracts on the grid value coverage can show the relative risk, with given scenario. The wind velocities calculated by the model were compared with observed value (average $R^2=0.68$). The calibration of wind speed models was done by dropping two climatic gauge data, which enhanced $R^2$ values. The comparison of calculated loss with actual historical loss of the insurance company showed both underestimation and overestimation. This system enables the company to have quantitative data for optimizing the re-insurance ratio, to have a plan to allocate enterprise resources and to upgrade the international creditability of the company. A flood model, storm surge model and flash flood model are being added, at last, combined disaster vulnerability will be calculated for a total disaster management system.

• Proceedings of the Korean Environmental Health Society Conference
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• 2003.06a
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• pp.24-25
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• 2003

Lead is ubiquitous in the human environment as a result of industrialization. China's rapid industrialization and traffic growth have increased the potential for lead emissions. Lead poisoning in children is one of the most common public health problems today, and it is entirely preventable. Children are more vulnerable to lead pollution and lead in their bodies can affect their nervous, circulatory, and digestive systems. Children are exposed to lead from different sources (such as paint, gasoline, and solder) and through different pathways (such as air, food, water, dust, and soil). Although all children are exposed to some lead from food, air, dust, and soil, some children are exposed to high dose sources of lead. Significant sources of lead for China's children include industrial emissions (often close to housing and schools), leaded gasoline, and occupational exposure that occurs when parents wear lead-contaminated clothing home from work, burning of coal for home heat and cooking, contaminated food, and some traditional medicines. To assess the blood lead level in children in China, a large-scale study was conducted in 19 cities among 9 provinces during 1997 to 2000. There were 6502 children, aged 3-5 years, were recruited in the study The result indicates that the mean blood lead level was 8.83ug/dl 3-5 year old living in city area. The mean blood lead level of boys was higher than that of girls (9.1l ug/dl vs 8.73ug/dl). Almost 30 percent childrens blood lead level exceeded 10ug/dl. The average blood lead level was higher than that of in 1985 (8.83ug/dl vs 8.lug/dl). An epidemiological study was carried on the children living around the cottage industries recycling the lead from battery. Nine hundreds fifty nine children, aged 5-12 years, living in lead polluted villages where the lead smelters located near the residential area and 207 control children live in unpolluted area were recruited in the study. The lead levels in air, soil, drinking water and crops were measured. The blood lead and ZnPP level were tested for all subjects. The results show that the local environment was polluted. The lead levels both in the air and crops were much higher than that of in control area. In the polluted area, the average blood level was 49.6ug/dl (rang 19.5-89.3ug/dl). Whereas, in the unpolluted area, the average blood level was 12.4ug/dl (rang 4.6-24.8ug/dl). This study indicates that in some countryside area, some cottage industries induce seriously lead pollution and cause children health problem. For the introducing of unleaded gasoline in some large cities, such as Beijing and Shanghai, the blood lead level showed a declined trend since 1997. By 2000, the use of leaded gasoline in motor vehicles has been prohibited in China. The most recent data available show that levels of lead in blood among children in Shanghai decreased from 8.3ug/dl in 1997 to 7.6ug/dl in 1999. The prevalence rate of children lead poisoning (blood lead >10ug/dl) was also decreased from 37.8% to 24.8%. In children living in downtown area, the blood lead level reduced dramatically. To explore the relationship between gene polymorphisms and individual susceptibility of lead poisoning, a molecular epidemiological study was conducted among children living in lead polluted environment. The result showed that the subjects with ALAD2 allele has higher ZPP level, and the subjects with VDR B allele has larger head circumference than only with b allele. In the present study, we demonstrated that ALAD genotypes modify lead effects on heme metabolism and VDR gene variants influence the skull development in highly exposed children. The polymorphism of ALAD and VDR genes might be the molecular inherited factor modifying the susceptibility of lead poisoning. Recently, Chinese government pays more attention to lead pollution and lead poisoning in children problem. The leaded gasoline was prohibited used in motor vehicles since 2000. The government has decided to have a clampdown on the high-polluted lead smelters for recycling the lead from battery in countryside. It is hopeful that the risk of lead poisoning in children will be decreased in the further

• Journal of Global Scholars of Marketing Science
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• v.19 no.2
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• pp.40-52
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• 2009

Franchising is one of the fastest growing types of business. It is already popular and well-known in the U.S., and has been growing in many other countries including Korea. Furthermore, many Korean franchising companies have expanded their business overseas actively. According to the data by the Ministry of Industry and Resource, 82 companies out of a sample of 500 franchising companies are already operating in many foreign countries and 48% of them have started their foreign business since 2006. This clearly indicates the fast growing current trend of foreign operation by Korean franchising companies. In spite of the fast growing trend of foreign expansion in the industry, academic research on internationalization of franchising companies is extremely difficult to find. Accordingly, academic research on the issue is necessary and urgent in Korea. Among the various research questions on internationalization of franchising business, this study intends to investigate the difference in organizational factors between the franchising companies doing foreign operation and those doing business only domestically. More specifically, this research has the following purposes. First, considering the lack of theoretical basis of previous studies, resource-based theory and agency theory are employed as the theoretical bases. Second, this study explains the difference in internationalization based on organizational factors such as company size, history and growth rate. Third, the five hypotheses regarding the difference in organizational factors are presented and tested empirically, which is the first attempt in the area of this topic. Finally, the study attempts to clarify the conflicting implications among theories regarding some organizational factos such as growth rate. As the theoretical background, resource-based theory and agency theory are discussed. According to resource-based theory, a firm can grow continuously when it has competence and resource, and also the ability to develop them. The competence and resource can include capital, human resource, management skill, market information, ability to manage risk, etc. Meanwhile, agency theory views the relationship between franchisor and franchisee as an agency relationship. In agency theory, bonding capability and monitoring capability are the two key factors which promote internationalization of franchising companies. Based on the two theories, a conceptual model is designed. The model consists of two groups of variables. One is organizational factors including size, history, growth rate, price bonding and geographic dispersion. The other is whether a franchising company is operating overseas or not. We developed the following five research hypotheses basically describing the relationship between organizational factors and internationalization of franchising companies. H1: The size of franchising companies operating overseas is larger than that of franchising companies operating domestically. H2: The history of franchising companies operating overseas is longer than that of franchising companies operating domestically. H3: The growth rate of franchising companies operating overseas is higher than that of franchising companies operating domestically. H4: The price bonding of franchising companies operating overseas is higher than that of franchising companies operating domestically. H5: The geographic dispersion of franchising companies operating overseas is wider than that of franchising companies operating domestically. Data for the analyses are obtained from 2005 Korea Franchise Survey data co-generated by Ministry of Industry and Resource, GS1 Korea, and Korea Franchise Association. Out of 2,804 population companies, 2,489 companies are excluded for various reasons and 315 companies are selected as the final sample. Prior to hypotheses tests, validity and reliability of the measures of size, history, growth rate and price bonding are examined for further analyses. Geographic dispersion is not validated since it is measured using nominal data. A series of independent sample T-tests is used to find out whether there exists any significant difference between the companies internationalized and those operating only domestically for each organizational factor. Among the five factors, size and geographic dispersion show significant difference, growth rate and price bonding do not reveal any difference and, finally, history factor shows conflicting results in the difference depending on how to measure it.