• Asia-Pacific Journal of Business
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• v.13 no.4
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• pp.45-59
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• 2022

Purpose - This study investigates the performance of investment strategies incorporating estimated stock market cycle based on a lead-lag relationship between business cycle and stock market cycle, thereby deriving empirical implications on risk management. Design/methodology/approach - The data period ranges from June 1953 to September 2022 and de-trended short rate, term spread, credit spread, stock market volatility are considered as major input variables to estimate business cycle and stock market cycle by applying probit model. Based on the estimated stock market cycle, two types of strategies are constructed and their performance relative to the benchmark is empirically examined. Findings Two types of strategies based on stock market cycle are considered: The first strategy is to long(short) on stocks when stock market stage is expected to be an expansion(a recession), and the second one is to long on stocks(bonds) when expecting an expansion(a recession). The empirical results show that the strategies based on stock market cycle outperforms a simple buy and hold strategy in both in-sample and out-of-sample investigation. Also the out-of-sample evidence suggests that the second strategy which is in line with asset allocation is more profitable than the first one. Research implications or Originality The strategies considered in this study are based on the estimated stock market cycle which only depends on a few easily available financial variables, thereby making easier to establish such a strategy. It implies that investors enhance investment performance by constructing a relatively simple trading strategies if they set their position on stocks or choose which asset class to buy conditioning on stock market cycle.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.877-885
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• 2022

Vision-based activity recognition has been widely attempted at construction sites to estimate productivity and enhance workers' health and safety. Previous studies have focused on extracting an individual worker's postural information from sequential image frames for activity recognition. However, various trades of workers perform different tasks with similar postural patterns, which degrades the performance of activity recognition based on postural information. To this end, this research exploited a concept of human-object interaction, the interaction between a worker and their surrounding objects, considering the fact that trade workers interact with a specific object (e.g., working tools or construction materials) relevant to their trades. This research developed an approach to understand the context from sequential image frames based on four features: posture, object, spatial features, and temporal feature. Both posture and object features were used to analyze the interaction between the worker and the target object, and the other two features were used to detect movements from the entire region of image frames in both temporal and spatial domains. The developed approach used convolutional neural networks (CNN) for feature extractors and activity classifiers and long short-term memory (LSTM) was also used as an activity classifier. The developed approach provided an average accuracy of 85.96% for classifying 12 target construction tasks performed by two trades of workers, which was higher than two benchmark models. This experimental result indicated that integrating a concept of the human-object interaction offers great benefits in activity recognition when various trade workers coexist in a scene.

• The Journal of the Convergence on Culture Technology
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• v.10 no.1
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• pp.453-458
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• 2024

Due to global issues such as climate crisis and rising energy costs, there is an increasing focus on energy conservation and management. In the case of South Korea, approximately 53.5% of the total energy consumption comes from industrial complexes. In order to address this, we aimed to improve issues through the 'Shared Network Utility Plant' among companies using similar energy utilities to find energy-saving points. For effective energy conservation, various techniques are utilized, and stable data supply is crucial for the reliable operation of factories. Many anomaly detection and alert systems for checking the stability of data supply were dependent on Energy Management Systems (EMS), which had limitations. The construction of an EMS involves large-scale systems, making it difficult to implement in small factories with spatial and energy constraints. In this paper, we aim to overcome these challenges by constructing a data collection system and anomaly detection alert system on embedded devices that consume minimal space and power. We explore the possibilities of utilizing anomaly detection alert systems in typical institutions for data collection and study the construction process.

• International Commerce and Information Review
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• v.14 no.2
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• pp.147-172
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• 2012

The aim of this research is to identify the competencies required by freight forwarding company logistics managers or supply chain managers. And this research also attempts to show their relative importance and key knowledge areas that require improvement. Using a survey questionnaire, data was collected against forty three logistics and supply chain management skills or competencies, which were then grouped into four categories and analysed. The Analysis revealed that supply chain awareness, ability to make decisions, analytical skill, communication skill, supply chain cost, people skill, and integration of internal or external information flow which belong to logistics planning group are considered the most important competencies for effective and efficient logistics functioning. On the other hand, reverse logistics and IATA regulations from environmental awareness group show little influence on logistics managers for improving their logistics performances. The results have implications for a variety of parties including prospective logisticians, students, teachers and companies considering expanding their business to Chinese market. For example, the results permit companies to employ appropriate logistics managers who are qualified with sufficient skills and competencies suggested in this research. In the case of practitioners, the results provide a benchmark for comparison with their current level of abilities and suggested competencies.

• International Commerce and Information Review
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• v.13 no.4
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• pp.251-274
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• 2011

The aim of this research is to identify the competencies required by logistics managers or supply chain managers in China. And this research also attempts to show their relative importance and key knowledge areas that require improvement. Using a survey questionnaire, data was collected against forty three logistics and supply chain management skills or competencies, which were then grouped into four categories and analysed. The Analysis revealed that supply chain awareness, ability to make decisions, analytical skill, communication skill, supply chain cost, people skill, and integration of internal or external information flow which belong to logistics planning group are considered the most important Competencies for effective and efficient logistics functioning. On the other hand, reverse logistics and IATA regulations from environmental awareness group show little influence on logistics managers for improving their logistics performances. The results have implications for a variety of parties including prospective logisticians, students, teachers and companies considering expanding their business to Chinese market. For example, the results permit companies to employ appropriate logistics managers who are qualified with sufficient skills and competencies suggested in this research. In the case of practitioners, the results provide a benchmark for comparison with their current level of abilities and suggested competencies.

• Membrane Journal
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• v.33 no.4
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• pp.181-190
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• 2023

Wastewater purification is one of the most important techniques for controlling environmental pollution and fulfilling the demand for freshwater supply. Various technologies, such as different types of distillations and reverse osmosis processes, need higher energy input. Capacitive deionization (CDI) is an alternative method in which power consumption is deficient and works on the supercapacitor principle. Research is going on to improve the electrode materials to improve the efficiency of the process. A reverse electrodialysis (RED) is the most commonly used desalination technology and osmotic power generator. Among many studies conducted to enhance the efficiency of RED, MXene, as an ion exchange membrane (IEM) and 2D nanofluidic channels in IEM, is rising as a promising way to improve the physical and electrochemical properties of RED. It is used alone and other polymeric materials are mixed with MXene to enhance the performance of the membrane further. The maximum desalination performances of MXene with preconditioning, Ti₃C₂T_x, Nafion, and hetero-structures were respectively measured, proving the potential of MXene for a promising material in the desalination industry. In terms of osmotic power generating via RED, adopting MXene as asymmetric nanofluidic ion channels in IEM significantly improved the maximum osmotic output power density, most of them surpassing the commercialization benchmark, 5 Wm^-2. By connecting the number of unit cells, the output voltage reaches the point where it can directly power the electronic devices without any intermediate aid. The studies around MXene have significantly increased in recent years, yet there is more to be revealed about the application of MXene in the membrane and osmotic power-generating industry. This review discusses the electrodialysis process based on MXene composite membrane.

• Environmental and Resource Economics Review
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• v.31 no.1
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• pp.113-139
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• 2022

The iron and steel industry is a manufacturing industry with the largest greenhouse gases emissions and has a great ripple effect on the national economy as a core material industry. This study internationally compared the decoupling patterns of greenhouse gases emissions in the iron and steel industry from 1990 to 2019, focusing on Korea, Japan, and Germany. In particular, unlike previous studies that considered only fuel combustion emissions, this study considered all fuel combustion emissions, industrial process emissions, and indirect emissions from the use of electricity and heat. As a result of the analysis, Korea is interpreted as expansive coupling, Japan as decoupling, and Germany as unclear. Therefore, the decoupling path that the Korean iron and steel industry should take should not be in Germany, but in the form of seeking a decoupling method similar to Japan or more effective than Japan. In addition, this study considered the characteristics of the iron and steel industry as much as possible and presented the causes of the decoupling analysis results and implications for the Korean iron and steel industry through comparison with Japan and Germany. In particular, four factors were suggested as factors which has promoted decoupling in Japan: high value-added of Japanese iron and steel products, development of energy efficiency technology in the Japanese iron and steel industry, strategic M&A of the Japanese iron and steel industry, and maintaining competitiveness according to the closed distribution structure of Japanese iron and steel products. The Korean iron and steel industry should also use the case of Japan as a benchmark to further increase added value through quality uprade and product diversification of iron and steel products, while at the same time making efforts to fundamentally reduce greenhouse gas emissions through the development of new technologies.

• Journal of Korean Society of Environmental Engineers
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• v.28 no.2
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• pp.117-127
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• 2006

Recently International Water Association(IWA) has proposed new performance indicators for water supply services and their successful applications are being reported continually. According to the various reports, the percentage indicators were suggested not to be used for performance comparison, especially where the targeted areas have great difference in consumption per service connection. But unfortunately in Korea the revenue water ratio, one of the percentage indicators is still being used to set up the goal of water-related administration and to compare the performances between systems. Therefore this study aimed to prove the inapplicability of the percentage indicators with nation-wide data and to suggest better performance indicators for more efficient water loss management. According to the result of the comparison of various performance indicators with conventional one, it is roved that percentage indicators ca not evaluate the performance efficiently where the local situations are significantly different. It is suggested that the better performance indicators such as real losses per service connection or ILI should be used to benchmark the performances of water suppliers on water loss management so thai the problems of water losses could be identified easily and recovered effectively.

• Nuclear Engineering and Technology
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• v.52 no.7
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• pp.1386-1395
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• 2020

High fidelity nuclear reactor fuel assembly simulation using CFD method is an effective way for the structure design and optimization. The validated models and user practice guidelines play critical roles in achieving reliable results in CFD simulations. In this paper, the international benchmark MATiS-H is studied carefully and the best user practice guideline is achieved for the rod bundles simulation. Then a 5 × 5 rod bundles model in the advanced pressurized water reactor (PWR) is established and the detailed three-dimensional thermal-hydraulic characteristics are investigated. The influence of spacer grids and mixing vanes on the flow and hear transfer in rod bundles is revealed. As the coolant flows through the spacer grids and mixing vanes in the rod bundles, the drastic lateral flow would be induced and the pressure drop increases significantly. In addition, the heat transfer is enhanced remarkably due to the strong mixing effects. The calculation results could provide meaningful guidelines for the design of advanced PWR fuel assembly.

• Journal of Environmental Science International
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• v.20 no.6
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• pp.783-788
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• 2011

Different from the main land of South Korea, Jeju Island has been in difficulties for measuring discharge. Due to high infiltration rate, most of streams in Jeju Island are usually in the dried state except six streams with the steady base flow, and the unique geological characteristics such as steep slope and short traveling distance of runoff have forced rainfall runoff usually to occur during very short period of time like one or two days. While discharge observations in Jeju Island have been conducted only for 16 sites with fixed electromagnetic surface velocimetry, effective analysis and validation of observed discharge data and operation of the monitoring sites still have been limited due to very few professions to maintain such jobs. This research is sponsored by Ministry of Land, Transport and Maritime Affairs to build water cycle monitoring and management system of Jeju Island. Specifically, the research focuses on optimizing discharge measurement techniques adjusted for Jeju Island, expanding the monitoring sites, and validating the existing discharge data. First of all, we attempted to conduct discharge measurements in streams with steady base flow, by utilizing various recent discharge monitoring techniques, such as ADCP, LSPIV, Magnetic Velocimetry, and Electromagnetic Wave Surface Velocimetry. ADCP has been known to be the most accurate in terms of discharge measurement compared with other techniques, thus that the discharge measurement taken by ADCP could be used as a benchmark data for validation of others. However, there are still concerns of using ADCP in flood seasons; thereby LSPIV would be able to be applied for replacing ADCP in such flooded situation in the stream. In addition, sort of practical approaches such as Magnetic Velocimetry, and Electromagnetic Wave Surface Velocimetry would also be validated, which usually measure velocity in the designated parts of stream and assume the measured velocity to be representative for whole cross-section or profile at any specified location. The result of the comparison and analysis will be used for correcting existing discharge measurement by Electromagnetic Wave Surface Velocimetry and finding the most optimized discharge techniques in the future.