• Journal of Korea Technology Innovation Society
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• v.10 no.3
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• pp.383-405
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• 2007

In this paper we estimate knowledge production function for 15 South Korean industry sectors using panel data. To accommodate the influence of inter-sectoral interactions on the creation of knowledge, we estimate parameters for related knowledge production functions using the Dynamic Seemingly Unrelated Regression(DSUR) model proposed by Mark et al. (2005). We find the elasticity of knowledge production with respect to the size of research staff to be 0.25 and that with respect to the existing stock of knowledge to be 0.35. The fact that the elasticity of new knowledge creation with regard to the existing knowledge stock is below 1 in South Korea corroborates the view that the rate of long-term growth of her economy is chiefly determined by the elasticity related to production functions of goods and services and the rate of population growth, and that her government policy, to ensure a continued growth for the Korean economy, must shift the focus of R&D policies from the current direct intervention-centered model to one consisting of indirect measures, namely supporting knowledge management and diffusion and the creation of a knowledge sharing system. In terms of R&D policy implications it could be consider that the national knowledge production system should strengthen the cumulative process of knowledge accumulation and population for research and development. Our country R&D policy, also, need to adopt a global approach to increase knowledge stock at the highest levels of a country.

• Journal of the Korean Society of Marine Environment & Safety
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• v.24 no.2
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• pp.253-259
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• 2018

In February 2014, the rudder upper stock and the nut of a passenger ship were released and an accident occurred. That accident occurred because the steering gear of passenger ships that was intended to move many passengers. The accidents due to steering gear was zero according to 2010-2016 statistics. There is no rules prevent loosening of the upper rudder nut in "Ship Safety Act" and "Structural standard of steel ship". Since the accident, the Korea register has been revised to the joining method in Part 5 Chapter 7 of the rules in the classification of steel ships. In the field survey of 12 passenger ships operating on Mokpo and surrounding islands, the welding method was applied in the cases as the fastening method. The fastening type was equipped with two C-type structures. It was structured to be difficult to access. The NAS 3350 test was conducted to investigate ways to prevent homologous accident considering the characteristic of passenger ships that need to lift or unload rides once a year.

• Journal of Korean Society of Forest Science
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• v.100 no.3
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• pp.315-326
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• 2011

In recent years, domestic and international interests focus on climate change, and importance of forest as carbon sink have been also increased. Particularly REDD+ mechanism expanded from REDD (Reduced Emissions from Deforestation and Degradation) is expected to perform a new mechanism for reducing greenhouse gas in post 2012. To conduct this mechanism, countries which try to get a carbon credit have to certify effectiveness of their activities by MRV (Measuring, Reporting and Verification) system. This study analyzed the approaches for detecting land cover change and estimating carbon stock by remote sensing technology which is considered as the effective method to develop MRV system. The most appropriate remote sensing for detection of land cover change is optical medium resolution sensors and satellite SAR (Synthetic Aperture Radar) according to cost efficiency and uncertainty assessment. In case of estimating carbon stock, integration of low uncertainty techniques, airborne LiDAR (Light Detection and Ranging), SAR, and cost efficient techniques, optical medium resolution sensors and satellite SAR, could be more appropriate. However, due to absence of certificate authority, guideline, and standard of uncertainty, we should pay continuously our attention on international information flow and establish appropriate methods. Moreover, to apply monitoring system to developing countries, close collaboration and monitoring method reflected characteristics of each countries should be considered.

• 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 Intelligence and Information Systems
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• v.21 no.3
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• pp.117-129
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• 2015

As the Internet becomes ubiquitous, a large volume of information is posted on the Internet with exponential growth every day. Accordingly, it is not unusual that investors in stock markets gather and compile firm-specific or market-wide information through online searches. Importantly, it becomes easier for investors to acquire value-relevant information for their investment decision with the help of powerful search tools on the Internet. Our study examines whether or not the Internet helps investors assess a firm's value better by using firm-level data over long periods spanning from January 2004 to December 2013. To this end, we construct weekly-based search volume for information technology (IT) services firms on the Internet. We limit our focus to IT firms since they are often equipped with intangible assets and relatively less recognized to the public which makes them hard-to measure. To obtain the information on those firms, investors are more likely to consult the Internet and use the information to appreciate the firms more accurately and eventually improve their investment decisions. Prior studies have shown that changes in search volumes can reflect the various aspects of the complex human behaviors and forecast near-term values of economic indicators, including automobile sales, unemployment claims, and etc. Moreover, search volume of firm names or stock ticker symbols has been used as a direct proxy of individual investors' attention in financial markets since, different from indirect measures such as turnover and extreme returns, they can reveal and quantify the interest of investors in an objective way. Following this line of research, this study aims to gauge whether the information retrieved from the Internet is value relevant in assessing a firm. We also use search volume for analysis but, distinguished from prior studies, explore its impact on return comovements with market returns. Given that a firm's returns tend to comove with market returns excessively when investors are less informed about the firm, we empirically test the value of information by examining the association between Internet searches and the extent to which a firm's returns comove. Our results show that Internet searches are negatively associated with return comovements as expected. When sample is split by the size of firms, the impact of Internet searches on return comovements is shown to be greater for large firms than small ones. Interestingly, we find a greater impact of Internet searches on return comovements for years from 2009 to 2013 than earlier years possibly due to more aggressive and informative exploit of Internet searches in obtaining financial information. We also complement our analyses by examining the association between return volatility and Internet search volumes. If Internet searches capture investors' attention associated with a change in firm-specific fundamentals such as new product releases, stock splits and so on, a firm's return volatility is likely to increase while search results can provide value-relevant information to investors. Our results suggest that in general, an increase in the volume of Internet searches is not positively associated with return volatility. However, we find a positive association between Internet searches and return volatility when the sample is limited to larger firms. A stronger result from larger firms implies that investors still pay less attention to the information obtained from Internet searches for small firms while the information is value relevant in assessing stock values. However, we do find any systematic differences in the magnitude of Internet searches impact on return volatility by time periods. Taken together, our results shed new light on the value of information searched from the Internet in assessing stock values. Given the informational role of the Internet in stock markets, we believe the results would guide investors to exploit Internet search tools to be better informed, as a result improving their investment decisions.

• Journal of Climate Change Research
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• v.4 no.2
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• pp.77-93
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• 2013

Global warming accelerates both carbon (C) input through increased forest productivity and heterotrophic C emission in forest soils, and a future trend in soil C dynamics is uncertain. In this study, the Korean forest soil carbon model (KFSC model) was applied to 1,467,458 ha of Pinus densiflora forests in Korea to predict future C dynamics under RCP 8.5 climate change scenario (RCP scenario). Korea was divided into 16 administrative regions, and P. densiflora forests in each region were classified into six classes by their stand ages : 1 to 10 (I), 11 to 20 (II), 21 to 30 (III), 31 to 40 (IV), 41 to 50 (V), and 51 to 80-year-old (VI+). The forest of each stand age class in a region was treated as a simulation unit, then future net primary production (NPP), soil respiration (SR) and forest soil C stock of each simulation unit were predicted from the 2012 to 2100 under RCP scenario and constant temperature scenario (CT scenario). As a result, NPP decreased in the initial stage of simulation then increased while SR increased in the initial stage of simulation then decreased in both scenarios. The mean NPP and SR under RCP scenario was 20.2% and 20.0% higher than that under CT scenario, respectively. When the initial age class was I, IV, V or VI+, predicted soil C stock under CT scenario was higher than that under RCP scenario, however, the countertrend was observed when the initial age class was II or III. Also, forests having a lower site index showed a lower soil C stock. It suggested that the impact of temperature on NPP was higher when the forests grow faster. Soil C stock under RCP scenario decreased at the end of simulation, and it might be derived from exponentially increased SR under the higher temperature condition. Thus, the difference in soil C stock under two scenarios will be much larger in the further future.

• The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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• v.12 no.2
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• pp.112-120
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• 2007

This paper reviews the use of parasites as 'biological tags' for studying stock analysis of salmonid fishes. Numerous definitions of stock concepts exist, but most of them essentially define a group of fish as having similar biological characteristics and being self-reproducing as stocks. It is important to manage fish stocks for human consumption and sustainable production and especially for salmonid fishes. Because these fry are considered as each country's property, it is necessary to identify and discriminate each fish stock in the open sea. Methods of separating fish stocks are very diverse. Artificial tags, parasites, otoliths scales and genetic characters have been used for stock analysis and each method has advantages and disadvantages. Of these parasites can be good biological tags because they are applied by nature at no cost. Parasites can be infected with susceptible host fishes when they enter into certain areas. Then if they move to the outside and are caught researchers can infer that the fish had been in the endemic area for a period of time during their life. Hence the host fish can be considered as naturally 'tagged' by parasites. However, if they do not pass the parasites-endemic. area, they will harbour no parasites. Therefore, researchers can discriminate each fish stocks and trace their migration routes with these biological tags. In this paper, several examples on the use of parasites as biological tags for studying salmonids, as well as other species, are listed. The advantages and limitations of parasites as biological tags are also discussed. Chum salmon (Oncorhynchus keta), the main salmonid species migrating to Korea, is distributed all around the North Pacific. Korean chum salmon are generally thought to move to the Sea of Okhotsk, the western North Pacific and the Bering Sea. However, there is no clear information on the distribution and migration pathways of Korean chum salmon, and no markers exist for separating them from others yet. Recent Korean chum salmon stock analysis including parasites information are mentioned.

• Animal cells and systems
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• v.5 no.1
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• pp.65-69
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• 2001

Obtaining mutant animals is important for studying the function of a particular gene. A chemical mutagenesis was first carried out to generate mutations in C. elegans. In this study, we used ultraviolet-activated 4,5',8-trimethylpsoralen to induce small deletion mutations. A library of mutagenized worms was prepared for recovery of candidate animals and stored at $15^{\circ}C$ during screening instead of being made into a frozen stock library. In order to isolate deletion mutations in target genes, a polymerase chain reaction (PCR)-based screening method was used. As a result, two independent mutants with deletions of approximately 1.0 kb and 1.3 kb were isolated. This modified and improved reverse genetic approach was proven to be effective and practical for isolating mutant animals to study gene function at the organismal level.

• 한국벤처창업학회:학술대회논문집
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• 2008.04a
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• pp.115-142
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• 2008

Although more interests are displayed concerning the business opportunities over the technologies developed in government-funded research centers or the universities, overall business performance does not meet the level of investment. As a consequence, it is hotly debated about stock investment for research enterprise and venture founded on the technologies of the government-funded research centers and the need and the required measures for the foundation of technology holding company that provides incubation service. This paper attempts to identify the critical success points in the foundation and the operation of technology holding company by observing the cases of overseas public research centers and to provide the future guide.

• Korean System Dynamics Review
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• v.9 no.1
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• pp.171-197
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• 2008

By applying Systems Simulation technique, this paper aims to investigates the dynamics underlying the coevolution of IT(information technology) and the society. Particularly, a series of basic questions are explored to answer by developing a simulation model for the mechanisms underlying the 'hype curve' ever occurring in the course of technology diffusion into society: First, why hype curve appears in the process of technology and society coevolution. Second, how to enhance the tapering level at the final stage of coevolution. Third, what are the key policy leverages and when is the right time for the policy intervention. As now, inflated expectations regarding ubiquitous information technology (u-IT) are growing very fast and higher than those for the previous technologies, which would result in overshoot followed by collapse of visibility and thus incur tremendous amount of social costs. In this regard implications drawn from this study perhaps give some insights not necessarily to the academics but also to the practitioners and policy makers facing the advent of u-IT as a new emerging horizon of information society.