• Journal of Korea Technology Innovation Society
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• v.20 no.3
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• pp.732-753
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• 2017

Recently, when evaluating the technology values in the fields of biotechnology, pharmaceuticals and medicine, we have needed more to estimate those values in consideration of the period and cost for the commercialization to be put into in future. The existing discounted cash flow (DCF) method has limitations in that it can not consider consecutive investment or does not reflect the probabilistic property of commercialized input cost of technology-applied products. However, since the value of technology and investment should be considered as opportunity value and the information of decision-making for resource allocation should be taken into account, it is regarded desirable to apply the concept of real options, and in order to reflect the characteristics of business model for the target technology into the concept of volatility in terms of stock price which we usually apply to in evaluation of a firm's value, we need to consider 'the continuity of stock price (relatively minor change)' and 'positive condition'. Thus, as discussed in a lot of literature, it is necessary to investigate the relationship among volatility, underlying asset values, and cost of commercialization in the Black-Scholes model for estimating the technology value based on real options. This study is expected to provide more elaborated real options model, by mathematically deriving whether the ratio of the present value of the underlying asset to the present value of the commercialization cost, which reflects the uncertainty in the option pricing model (OPM), is divided into the "no action taken" (NAT) area under certain threshold conditions or not, and also presenting the estimation logic for option values according to the observation variables (or input values).

• Journal of Korea Technology Innovation Society
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• v.11 no.1
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• pp.72-90
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• 2008

What has been the contribution of industrial innovation to economic growth? Typically, the issue has been approached with growth-accounting methods augmented to include a "stock of knowledge". An independent estimate of the rate of return to R&D is found in order to impute patents granted to the accumulation of knowledge. Griliches(1973) then uses a regression approach to assess the effect of an R&D variable on the computed TFP growth rate. The regression coefficient on the R&D variable would provide an estimate of the social rate of return to R&D. The related studies tend to show high social rates of return to R&D, typically in a range of 20 to 40 % per year. We need to provide multiple equation dynamic system for productivity and innovation in Korean economy in state space form. A wide range of time series models, including the classical linear regression model, can be written and estimated as special cases of a state space specification. State space models have been applied in the econometrics literature to model unobserved variables like productivity. Estimation produces the following results. Considering the goodness of fit, we can see that the evidence is strongly in favor of the range $0.120{\sim}0.135$ for the elasticity of TFP to R&D stock in the period between 1970's and the early 2000's.

• Journal of the Korean Wood Science and Technology
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• v.46 no.2
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• pp.202-210
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• 2018

This study was carried out to quantify degree of contribution of harvested wood product (HWP) on mitigation of climate change by valuation of public benefits, environmentally and economically. The potential carbon dioxide emission reduction of HWP was estimated by accounting carbon storage effect and substitution effect. Based on 2014 statistics of Korea Forest Service, domestic HWPs were sorted by two categories, such as wood products produced domestically from domestic and imported roundwood. The wood products were divided into seven items; sawnwood, plywood, particle board, fiberboard (MDF), paper (including pulp), biomass (wood pellet) and other products. The carbon stock of wood products and substitution effects during manufacturing process was evaluated by items. Based on the relevant carbon emission factor and life cycle analysis, the amount of carbon dioxide emission per unit volume on HWP was quantified. The amounts of carbon stock of HWP produced from domestic and from imported roundwood were 3.8 million $tCO_{2eq}$., and 2.6 million $tCO_{2eq}$., respectively. Also, each reduction of carbon emission by substitution effect of HWP produced from domestic and imported roundwood was 3.1 million $tCO_{2eq}$. and 2.1 million $tCO_{2eq}$., respectively. The results of this study, the amount of carbon emission reduction of HWP, can be effectively used as a basic data for promotion of wood utilization to revise and establish new wood utilization promotion policy such as 'forest carbon offset scheme', and 'carbon storage labeling system of HWP'.

• Transactions of the Korean Society of Automotive Engineers
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• v.20 no.3
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• pp.67-76
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• 2012

In this paper, collision analysis of the full rake for the Next Generation High-speed EMU is conducted using a 3D/1D hybrid model, which combines 3-dimensional (3D) front-end structure of finite element model and 1-dimensional (1D) multi-body dynamics model in order to analyze train collision with a standard 3D deformable obstacle. The crush forces, passengers' accelerations and energy absorptions of a full rake train can be easily obtained through a simulation of a 1D dynamics model composed of nonlinear springs, dampers and masses. Also the obtained simulation results are very similar to those of a 3D model if an overriding behavior does not occur during collision. The standard obstacle in TSI regulation has been changed from a rigid body to a deformable body, and therefore 3D collision simulations should be conducted because their simulation results depends on the front-end structure of a train. According to the obstacle collision analysis of this study, the obstacle collides with the driver's upper structure after overriding over the front-end module. The 3D/1D hybrid model is effective to evaluate a main energy-absorbing module that is frequently changed during design process and reduce the need time of the modeling and analysis when compared to a 3D full car body.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.50 no.4
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• pp.583-594
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• 2014

This study was performed to estimate biomass and provide management guidance through population ecological characteristics, including growth parameters, instantaneous coefficients of natural and fishing mortalities, and age at first capture of the starry flounder, Platichthys stellatus and olive flounder, Paralichthys olivaceus of Korea. For describing growth of this species, a von Bertalanffy growth model was adopted. The von Bertalanffy growth parameters estimated from a non-linear regression for starry flounder were $L_{{\infty}}=48.25cm$, K=0.16/yr, and $t_0=-1.48$, respectively and those for olive flounder were $L_{{\infty}}=86.46cm$, K=0.26/yr, and $t_0=-0.29$, respectively. Biomass of Platichthys stellatus was estimated by direct biomass estimation method was 2.6 M/T, that was estimated by indirect method was 13.4 M/Tt. Those of Paralichthys olivaceus were estimated as 10.1 M/T, 19.3 M/T, respectively. An yield per recruit analysis showed that the current yield per recruit on Platichthys stellatus was about 48.2 g with F=0.646/yr and the age at first capture ($t_c$) 1.35yr, that on Paralichthys olivaceus was about 167.6 g with F=1.121/yr and the age at first capture ($t_c$) 1yr.

• The Plant Pathology Journal
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• v.22 no.1
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• pp.21-27
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• 2006

We immunized BALB/c mice with purified Cucumber green mottle mosaic virus isolate HY1 (CGMMV-HY1). Through the selection of positive clones that were grown on the HAT medium, four sensitive monoclonal clones (CG99-01, CG99-02, CG99-03, and CG99-04) were selected from 500 Hypoxanthine-guanine phosphoribosyltransferase positive hybridoma cells. Four sensitive clones of CGMMV-HYI were determined as IgM type of the subclass of mouse immunoglobulins Ig group. The titer of monoclonal antiserum against CGMMVHY1 was estimated 1:12,800 by the indirect ELISA. Although monoclonal antibodies (MAbs) from CG99-01 and from CG99-04 cross-reacted with Zucchini green mottle mosaic virus and Kyuri green mottle mosaic virus, MAb from the cell line CG99-03 was highly specific to CGMMV. No MAbs cross-reacted with Cucumber mosaic virus-Fny. Only CG99-04 reacted with Pepper mild mottle virus weakly and CG99-02 reacted with both CGMMV and KGMMV. CGMMV was detected from the rind of watermelon fruit by DAS-ELISA of CGMMV-HY1, but not from the flesh of watermelon. Average seed transmission rate of CGMMV in watermelon was $24\%$ from symptomatic watermelon collected from 5 regions of Gyeongnam province. CGMMV was detected by DAS-ELISA with specific MAb of CGMMVHY1 periodically from root stock, during the sequential process for nursery seedling in Haman. Necrotic spots on cotyledons of root stock seedling progressed to reveal the typical symptomatology on the primary leaves of scion upon grafting. Here, we have established MAb based ELISA system, which could accurately detect CGMMV from watermelon seeds, nursery seedlings, transplants and field samples from greenhouse or open out door field as well.

• Transactions of the Korean Society of Mechanical Engineers A
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• v.38 no.7
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• pp.699-709
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• 2014

This paper proposes a new method for predicting the derailment of a running train under cross-wind conditions, using the single wheelset derailment theory. The conventional theories used for predicting the derailment due to cross-winds were developed under the assumption that derailment will always be of the roll-over type, thus neglecting other possible types such as wheel-climbing, which may occur under special driving conditions. In addition, these theories do not consider running conditions such as dynamic wheel-rail interactions and friction effects. The new method considers the effects of dynamic wheel-rail interaction as well as those of lateral acceleration, rail cant, and cross-winds. The results of this method were compared and verified with those of the conventional methods and numerical simulations.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.53 no.1
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• pp.60-66
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• 2017

This study researched the population of ecological characteristics of the goldeyes rockfish Sebasetes thompsoni sampled by gill net in the Ulleungdo area from February 2013 to February 2014 in order to assess the current stock status and provide scientific advice for management implementation. The instantaneous coefficient of total mortality (Z) was 0.78/year and the survival rate (S) was 0.459. The instantaneous coefficient of natural mortality (M) was 0.461/year. Based on the estimates of Z and M, the instantaneous coefficient of fishing mortality (F) was 0.318/year. The age at first capture ($t_c$) was 4.41/years. Current Yield-per-recruit (YPR) was 30.83 g, and fishing mortality at maximum YPR ($F_{max}$) and fishing mortality corresponding to 10% of the maximum slope in YPR curve ($F_{0.1}$) were 3.257/year and 0.673/year, respectively. $F_{35%}$ and $F_{40%}$, indicating fishing mortalities at 35% and 40% of maximum Spawning biomass-per-recruit (SBPR), were 0.619/year and 0.509/year, respectively. Based on the biological reference points, fishing mortality at overfished threshold yield ($F_{OTY}$) was calculated as 0.509/year. Current $SBPR/SBPR_{MSY}$ was 1.313 above 1.0, which means 'not overfishe,' while current $F/F_{OTY}$ was 0.629 below 1.0, which indicates 'not overfishing.' In conclusion, the current status of goldeyes rockfish was located in green zone (i.e., not overfished and not overfishing) according to the revised Kobe plot.

• Korean Journal of Fisheries and Aquatic Sciences
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• v.47 no.5
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• pp.671-681
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• 2014

The distribution and abundance of coastal fish species in Asan Bay, Korea, were estimated from hydroacoustic survey and net catches. Acoustic data were collected with 38 and 200 kHz from July to October of 2012, and converted to the nautical area scattering coefficient (NASC, $m^2/mile^2$) for $0.25n{\cdot}mile$ along ten transects. Japanese anchovy Engraulis japonicus was the dominant specie in the net catches. The virtual echogram technique was used to distinguish E. japonicus from other species based on the differences in the mean volume backscattering strength (${\Delta}MVBS$) at 38 and 200 kHz. Engraulis japonicus and other fishes are mainly distributed in the center channel and outer part of Asan Bay. E. japonicus tends to move from inner to outer Asan Bay in summer and fall. From NASC data, the target strength and length-weight function of E. japonicus and other fishes were used to estimate the E. japonicus stock at 24.1-93.3 tons, and other fish at 40.6-88.4 tons from July to October 2012. The estimated anchovy biomass compared well with the cumulative catch weight from stow net catches. The hydroacoustic method offers an approach to understanding spatial/temporal structure and estimating the biomass of fish aggregations in coastal areas.

• The Journal of Korea Institute of Information, Electronics, and Communication Technology
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• v.11 no.4
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• pp.421-429
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• 2018

While IoT device sensing data or financial transaction data is transmitted in real time, huge data traffic is generated in processing it. This huge data can be effectively compressed or transmitted using universal code, which is a real-time lossless compressor. In this paper, we propose our BL-beta code, which is newly developed universal code for compressing stock trading data, which the maximum range of measured values is difficult to predict and is generated within a relatively constant range over a very short period of time. For compressing real-time stock trading data, Compared with the fixed length bit transmission, the compression efficiency is at least 49.5% higher than that of the fixed length bit transmission, and the compression transmission performance is 16.6% better than the Exponential Golomb code.