• Proceedings of the Korean Magnestics Society Conference
• /
• 2013.12a
• /
• pp.90-90
• /
• 2013

Since discovery, NdFeB permanent magnet has replaced application of the conventional magnets rapidly because of its superior physical and mechanical properties. With increasing consumption of power combined with energy resource depletion, energy efficiency is becoming more and more inportant. According to recent reports, almost almost half of the electric power is consumed by motor, and NdFeB magnets which are the core component of the motor play a key role on improving energy efficiency of the devices. In parallel with finding alternatives energy resources, research works improving energy efficiecy have been conducted world wide. Althogh NdFeB magnets usage have been expanded to various applications, key materials such as Nd and Dy, resouces lean heavily on specific area, China. Magnetic industry revently experienced skyrocketing price fluctuatioin of rare earth at around 2008. Chineses government's regulations worsened the situation and arose a necessity to develop methods to minimize rare earth use. In this presentation, POSCO's recent research works on rare earth reduction is presented including novel powder alloying method using nitrate precursors. Also, future R&D plans for rare earth free magnets is briefly introduced as well.

• The Korean Journal of Financial Management
• /
• v.24 no.2
• /
• pp.41-79
• /
• 2007

This study examines the expiration-day effects of stock index futures and options in the Korean stock market. The so-called 'expiration-day effects', which are the abnormal stock price movements on derivatives expiration days, arise mainly from cash settlement. Index arbitragers have to bear the risk of their positions unless they liquidate their index stocks on the expiration day. If many arbitragers execute large buy or sell orders on the expiration day, abnormal trading volumes are likely to be observed. If a lot of arbitragers unwind positions in the same direction, temporary trading imbalances induce abnormal stock market volatility. By contrast, if some information arrives at market, the abnormal trading activity must be considered a normal process of price discovery. Stoll and Whaley(1987) investigated the aggregate price and volume effects of the S&P 500 index on the expiration day. In a related study, Stoll and Whaley(1990) found a similarity between the price behavior of stocks that are subject to program trading and of the stocks that are not. Thus far, there have been few studies about the expiration-day effects in the Korean stock market. While previous Korean studies use the KOSPI 200 index data, we analyze the price and trading volume behavior of individual stocks as well as the index. Analyzing individual stocks is important for two reasons. First, stock index is a market average. Consequently, it cannot reflect the behavior of many individual stocks. For example, if the expiration-day effects are mainly related to a specific group, it cannot be said that the expiration of derivatives itself destabilizes the stock market. Analyzing individual stocks enables us to investigate the scope of the expiration-day effects. Second, we can find the relationship between the firm characteristics and the expiration-day effects. For example, if the expiration-day effects exist in large stocks not belonging to the KOSPI 200 index, program trading may not be related to the expiration-day effects. The examination of individual stocks has led us to the cause of the expiration-day effects. Using the intraday data during the period May 3, 1996 through December 30, 2003, we first examine the price and volume effects of the KOSPI 200 and NON-KOSPI 200 index following the Stoll and Whaley(1987) methodology. We calculate the NON-KOSPI 200 index by using the returns and market capitalization of the KOSPI and KOSPI 200 index. In individual stocks, we divide KOSPI 200 stocks by size into three groups and match NON-KOSPI 200 stocks with KOSPI 200 stocks having the closest firm characteristics. We compare KOSPI 200 stocks with NON-KOSPI 200 stocks. To test whether the expiration-day effects are related to order imbalances or new information, we check price reversals on the next day. Finally, we perform a cross-sectional regression analysis to elaborate on the impact of the firm characteristics on price reversals. The main results seem to support the expiration-day effects, especially on stock index futures expiration days. The price behavior of stocks that are subject to program trading is shown to have price effects, abnormal return volatility, and large volumes during the last half hour of trading on the expiration day. Return reversals are also found in the KOSPI 200 index and stocks. However, there is no evidence of abnormal trading volume, or price reversals in the NON-KOSPI 200 index and stocks. The expiration-day effects are proportional to the size of stocks and the nearness to the settlement time. Since program trading is often said to be concentrated in high capitalization stocks, these results imply that the expiration-day effects seem to be associated with program trading and the settlement price determination procedure. In summary, the expiration-day effects in the Korean stock market do not exist in all stocks, but in large capitalization stocks belonging to the KOSPI 200 index. Additionally, the expiration-day effects in the Korean stock market are generally due, not to information, but to trading imbalances.

• Journal of the Korean Society of Environmental Restoration Technology
• /
• v.15 no.1
• /
• pp.133-140
• /
• 2012

The study of Arundinaria munsuensis Y. Lee to this day was limited to the field of morphological species classification since its first discovery at Jiri mountain in the late 1990s. This native plants, one of Korean endemic species found in Jiri Mt. necessitates further studies about its use as revegetation plants or groundcover plants in urban areas. This study was launched from this need followed by summaries of results below related to its usage. This targeted species is a native Korean species which its natural distribution on the subalpine zone has merit for the wide range of climatic adaptation. Also, the coverage rate reached 78.3% in three years mostly by rhizome growth with an expectation of full coverage in four years providing less maintenance needs after planting. The net price for the construction of pot seedling methods of this plants is relatively economical than other normal revegetation construction methods. For these reasons, drilling for the plants on cut and fill soil slopes driven from pot seedling adapts Arundinaria munsuensis Y. Lee as efficient revegetation plant. Total construction cost for pot seedling work($30cm{\times}30cm$) of Arundinaria munsuensis was approximately 21,000won which is in reasonable price range when compared to other revegetation construction methods of disturbed slopes. As a native Korean plant, Arundinaria munsuensis has wide range of climatic adaptation with less maintenance requirement after planting. This study may suggest a strong possibility of Arundinaria munsuensis as a pot planting material in sloped area.

• Asian Journal of Innovation and Policy
• /
• v.12 no.1
• /
• pp.054-074
• /
• 2023

With the advent of the '4th Industrial Revolution', digitalization using AI (Artificial Intelligence), big data, IoT (Internet of Things), cloud computing and mobile is accelerating across all industries and global companies have fundamentally reorganized customer experiences, business models, and operations centering on digital transformation. Business innovation drives productivity improvement, process simplification, price, competitiveness and sustainable expansion. Whether digital transformation will be necessary for the current industrial environment is no longer important, and how quickly companies achieve digitalization has emerged as the utmost crucial element in industrial continuity. As non-face-to-face and remote technologies have begun in earnest, and accelerated in the pharmaceutical industry. They are looking for ways to provide value, generate profits, improve efficiency, and sustain the future. Compared to other industries, the pharmaceutical-related sectors have shown high interest in digital transformation especially to reduce costs and meet the challenge of delivering products during the pandemic environment.

• The Korean Journal of Financial Management
• /
• v.27 no.1
• /
• pp.1-30
• /
• 2010

This paper tested the lead-lag relationship as well as the symmetric and asymmetric volatility spillover effects between international currency futures markets and cash markets. We use five kinds of currency spot and futures markets such as British pound, Australian and Canadian dollar, Brasilian Real and won/dollar spot and futures markets. daily closing prices covering from September 15, 2003 to July 30, 2009. For this purpose we employed dynamic time series models such as the Granger causality based on VAR and time-varying MA(1)-GJR-GARCH(1, 1)-M. The main empirical results are as follows; First, according to Granger causality test, we find that the bilateral lead-lag relationship between the five countries' currency spot and futures market. The price discover effect from currency futures markets to spot market is relatively stronger than that from currency spot to futures markets. Second, based on the time varying GARCH model, we find that there is a bilateral conditional mean spillover effects between the five currency spot and futures markets. Third, we also find that there is a bilateral asymmetric volatility spillover effects between British pound, Canadian dollar, Brasilian Real and won/dollar spot and futures market. However there is a unilateral asymmetric volatility spillover effect from Australian dollar futures to cash market, not vice versa. From these empirical results we infer that most of currency futures markets have a much better price discovery function than currency cash market and are inefficient to the information.

• The Research Journal of the Costume Culture
• /
• v.3 no.2
• /
• pp.323-346
• /
• 1995

The increasing number of senior citizens, combined with the power of purchasing due to discretionary income have vaulted the elderly into the position of an attractive future target market. Therefore, it would be crucial for marketers to understand elderly's purchasing behavior. The purpose of this study was to identify clothing purchasing behavior of elderly women. For this study, questionnaires were administered to 600 women over 55 years of age. However, the sample that was analyzed fer statistical analysis was involved 418 elderly women. Statistical analysis were majorly descriptives such as frequencies and percentages. The major results of this study were summarized as follows. 1. In relation to problem recognition in purchasing process, motives of purchasing apparel were identified as a happy event in home such as a wedding and a birthday, a change of seasons and a casual discovery of a suitable clothing in shopping, in orders. 2. In relation to information search, important information on apparel and fashionability were thought as display racks in a store, opinion from friends and family and fashionability from others or streets, in orders. 3. In relation to selecting a store in purchasing process, older consumers assessed that attractive price, design suited to my age, variety in one store and apparel product quality were important store attributes, in orders. In terms of a purchase place, older consumers purchased clothing mainly on department stores, wholesale stores such as Namdaemoon or Dongdaemoon market, mainly retail stores located close to home and discount stores of well known brand, in orders. 4. In relation to alternative evaluation in purchasing process, older consumeres considered that style or appearance suited to me, color, design, comfort and fitness were important selection criteria, in orders. 5. In relation to purchase choice, 61.7% of the respondents paid money by themselves and 68.9% paid on cash in purchasing apparel. 6. In relation to outcomes of purchase, older consumers solved their complaint against a unsatisfactory product mainly by returning the unsatisfactory clothing. Also, there were those who took no action against the unsatisfactory product and who altered the clothing for fitness by themselves.

• Journal of the Economic Geographical Society of Korea
• /
• v.22 no.4
• /
• pp.592-609
• /
• 2019

This study attempts to expand the leverage cycle theory using the subprime real estate investors. The leverage cycle theory has demonstrated asset price fluctuations irrelevant to changes in fundamentals through the restructuring of transaction composition centered on optimistic buyers. However, it needs to understand how this theory works in the depressed housing market with low-income residential regions to explain the geographic origins of the financial crisis. In the depressed housing market, the subprime real estate investors focused on low-income residential regions. Through this spatial focus, the low-income residential regions solely have real estate investor-oriented composition of new purchase transactions in the depressed housing market. The discovery of the subprime real estate investors as new actors lays the foundation for applying the leverage cycle theory to the depressed housing market which has been a underserved area for capital investment. This attempt illustrates how the geographical reinterpretation of an economic theory reestablishes spatio-temporal context of economic phenomena.

• Journal of Internet Computing and Services
• /
• v.20 no.6
• /
• pp.167-177
• /
• 2019

The enhancement of national competitiveness in future society is the discovery and training of excellent SW convergence gifted. In order to cultivate these SW convergence gifted, reinforcing competence of teachers in charge should be made first. Therefore, in this paper, artificial intelligence education contents, one of the core technologies of the 4th Industrial Revolution era, were developed to reinforcing competence of SW convergence gifted teachers. After setting the direction of artificial intelligence education content, we constructed educational content suitable for secondary SW convergence gifted education, and designed and developed it in detail. The composition of artificial intelligence education content consists of machine learning and tensor flow understanding, linear regression machine learning implementation for numerical prediction, and multiple linear regression-based price prediction machine learning implementations. The developed educational contents were verified by experts with qualitative aspects. In the future, we expect that the educational content of artificial intelligence proposed in this paper will be useful for strengthening the ability of SW convergence gifted teachers.

• Journal of the Korean Society of Food Culture
• /
• v.27 no.3
• /
• pp.233-239
• /
• 2012

The purpose of this study was to develop an evaluation indicator for the industrialization of local cuisine. We conducted a literature study, interviews with experts, and a Delphi survey. The resulting evaluation indicator was divided into four groups and nine sub-groups. The four groups were locality, taste and functionality, industrial base, and business value. The nine sub-groups were traditionality, regionality, eating quality, nutrition and functionality, condition of development, technological level, rights and policy, marketability, and ripple effects. Also 22 items were created as indicators for evaluating classes ; historicity, sustainability, rarity, awareness of local resident, the number of similar restaurant, appearance, taste, nutritional balance, health functionality, availability of raw materials, suitability of environmental exchange of market, standardization of recipe, simplification of recipe, storability, intellectual property rights, government's policy, appropriacy of price, popularization, possibility of franchise, globalization, improvement of local image, vitalization of local economy. The four most important classes corresponded to one of the four groups. These classes were sustainability, taste, state (local autonomy) policy, vitalization of local economy. The implications of this study are that the possibility of industrializing the local cuisine of each region can be evaluated and applied. Moreover, these indicators could promote the discovery of local cuisines, support planning for the commercialization of local cuisine.

• Journal of the Korean Society of Mineral and Energy Resources Engineers
• /
• v.55 no.6
• /
• pp.624-634
• /
• 2018

Indonesia has become a net crude oil importer because of the reduction of a new oil field discovery, and Indonesia is attempting to raise investment funds through the Kerja Sama Operasi (KSO) contract to develop a small-scale field. However, the KSO has a high-risk and low-return contract system for investors, necessitating an economic evaluation to examine the feasibility of the project. This study performed economic evaluation on the development of an Indonesian small-scale field by applying the KSO contract conditions, and identified the major economic parameters through a sensitivity analysis. As a result, the oil price, CAPEX and OPEX were identified as influential factors for economic evaluation. The results also indicate that commercial production in small-scale fields is difficult. In the future, this study can be used as a reference resource for investment in oil and gas development projects in Indonesia.