• Land and Housing Review
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• v.12 no.2
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• pp.33-45
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• 2021

Due to recent changes in government policy, officetels have received attention as alternative assets, along with the uplift of office and apartment prices in Seoul. However, the current officetel price indexes use small-size samples and, thus, there is a critique on their accuracy. They rely on valuation prices which lag the market trend and do not properly reflect the volatile nature of the property market, resulting in 'smoothing'. Therefore, the purpose of this paper is to create the officetel price index using transaction data. The data, provided by the Ministry of Land, Infrastructure and Transport from 2005 to 2020, includes sales prices and rental prices - Jeonsei and monthly rent (and their combinations). This study employed a repeat sales model for sales, jeonsei, and monthly rent indexes. It also contributes to improving conversion rates (between deposit and monthly rent) as a supplementary indicator. The main findings are as follows. First, the officetel price index and jeonsei index reached 132.5P and 163.9P, respectively, in Q4 2020 (1Q 2011=100.0P). However, the rent index was approximately below 100.0. Sales prices and jeonsei continued to rise due to high demand while monthly rent was largely unchanged due to vacancy risk. Second, the increase in the officetel sales price was lower than other housing types such as apartments and villas. Third, the employed approach has seen a potential to produce more reliable officetel price indexes reflecting high volatility compared to those indexes produced by other institutions, contributing to resolving 'smoothing'. As seen in the application in Seoul, this approach can enhance accuracy and, therefore, better assist market players to understand the market trend, which is much valuable under great uncertainties such as COVID-19 environments.

• Korean Journal of Construction Engineering and Management
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• v.20 no.3
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• pp.3-11
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• 2019

The construction of a facility is an act whereby infrastructure such as roads and railways and other facilities such as housing and office spaces are constructed, and due to the characteristics of the relevant industry where such construction is carried out in a custom order method, it requires a long period of time mostly. While the construction is carried out over a long period of time, fluctuations in the price of raw materials required for the construction occur. Therefore, the cost of the construction also fluctuates inevitably. The fluctuation of the construction cost meshes closely with the profit of a constructor and the efficiency of government spending. Therefore, it is necessary to maintain the construction cost at a reasonable level by adjusting the construction cost rationally in order to secure the required construction quality and spend the budget efficiently. The buffer system for solving such problem is the contract amount adjustment system by fluctuations in prices (Escalation/De-Escalation). In this study, the method combining the escalation method based on the item adjustment method was suggested for an efficient contract amount adjustment method. In addition, it is proposed that there be an investigation and codification of matters not applied to government acts and regulations on contracts related to the adjustment of fluctuations in prices legally.

• Journal of Service Research and Studies
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• v.10 no.4
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• pp.71-88
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• 2020

CB(Convertible bond) is mezzanine security that have the characteristics of bonds and stocks. From the perspective of investors, the purpose of the research is to empirically investigate the degree of investment efficiency of CB and to suggest efficient investment plans. The research method investigated the maturity interest rate, conversion price, and conversion date for CB, and then linked it with daily stock price fluctuations after the conversion date to determine the degree of investment efficiency and stock conversion effect of CB. As a result of the study, it was analyzed that the ratio of the conversion price exceeded days was only about 1/4 of the conversion date, so the investment efficiency was low. The conversion day yield was -6.3% on average and the maturity day yield was -5.2% on average, showing a minus return on average, which was calculated differently from investor expectations. It was analyzed that the number of stocks with a minus conversion day is 2.4 times greater than the number of plus stocks and 3.7 times more than the number of plus stocks with a minus maturity return, so the expected return on stock conversion of CB is low. The research contribution was derived from the problem that the expected rate of return of CB is not high, and it is that the investor's point of view when purchasing CB was established.

• Korean small business review
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• v.43 no.1
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• pp.1-33
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• 2021

This study explores differential value implications of R&D expenditure across firms, especially in terms of growth potential of small businesses. Analyzing Korean listed firms for the period from 1982 to 2014, we document the followings. First, large firms, defined as the top quintile group based on market capitalization, have spent higher R&D expenditure compared to small (bottom quintile group) and medium (middle quintile groups) firms and the difference between groups has enlarged over time. Relatedly, the persistence of R&D spending, measured by the association between current R&D expenditure and cumulative future R&D expenditure over the next five years, is lowest in small firms. Second, R&D of large (small) firms are more (less) likely to generate operating profits over the next five years. Additional analyses suggest that the relation between R&D and gross margin is strongest in large firms, suggesting that R&D underlies their competitiveness in the product market. Third, small firms have borne the highest uncertainty related to R&D investment proxied by the association between current R&D and volatility of future earnings. As a result, the likelihood of R&D leading to future patents is also lowest in small firms. Fourth, the probability of moving up to the next size group within the next five years is significantly lower in small firms than others. Finally, we find that the divergence in R&D expenditure between large and small firms is positively associated with product market concentration. Overall, our findings confirm the small business growth trap in relation to R&D investment.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.15 no.5
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• pp.55-60
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• 2001

Most of the battery charger for electric powered forklift truck are controlled by the method of 3-phased constant current and constant voltage controls. However, these chargers have several disadvantages like a large charger capacity, and a short battery life time. To eliminate the weak points, a digital type battery charger based on multi-mode control adding a constant power control and several assistant controls in the conventional control is presented. The whole control system is performed by a low cost 8 bit one-chip micro-controller and completely digitize. So, we can get a high precision control and a good reliability.

• Proceedings of the Korean Society of Dyers and Finishers Conference
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• 2011.03a
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• pp.101-101
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• 2011

재생 셀룰로스 섬유의 원료로 사용되는 셀룰로스는 면, 마, 목재 등 고등식물의 주성분으로 매년 수십억톤이 광합성에 의하여 생산되어지고 있다. 따라서 석유류와 같은 화석연료의 가격 변동에 영향을 받지 않고 안정적으로 수입되고 있다. 또한, 셀룰로스에는 면이나 마류 등과 같이 간단한 정제 처리에 의해 의류용 섬유로서 사용될 수 있는 것과 목재 섬유와 같이 펄프화하여 종이, 인견섬유, 필름 등으로 사용되어지는 것이 있으며, 셀룰로스 유도체도 제조할 수 있다. 현재까지 개발된 섬유들 중 대표적인 셀룰로스계 재생섬유인 비스코스 레이온(Viscose rayon)은 그 제조 방법이 환경적으로 치명적인 문제를 안고 있으나 고유의 우수한 드레이프성, 흡습성, 독특한 광택, 시원한 촉감 등을 가지고 있어 그 소비는 꾸준한 상황이다. 이러한 Viscose rayon을 대체하기 위하여 친환경적인 공법을 이용하여 개발된 Lyocell 제품이 각광을 받고 있다. 면 셀룰로스 재생섬유는 기존의 Lyocell섬유에 비해 신도는 높고 모듈러스가 낮아 Modal과 같은 촉감을 가지고, 피브릴 발생이 없어 방사공정에서 가교반응이 필요치 않는 것으로 기대된다. 친환경 공법인 Lyocell 공법으로 개발된 면 린터 원료를 이용하여 면 린터 셀룰로스 재생섬유 제조기술을 개발하고자 한다. 따라서 본 연구에서는 면 린터 셀룰로스 재생섬유의 기술적인 신뢰성을 검증하기 위해 면 린터 셀룰로스 재생섬유소재 피브릴화 정도의 표준화 시험법을 연구하고자 한다. 사용원단으로 Tencel A-100, Tencel standard, Modal, Lyocell LF, 면 린터 섬유를 사용하였으며, 세탁, 염색, 알칼리조건 처리에 따른 물성 변화를 알아보았다. 물성 변화는 전자현미경으로 측정하였다.

• Journal of Navigation and Port Research
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• v.43 no.6
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• pp.462-468
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• 2019

Offshore oil production faces several difficulties caused by oil price decline and unexpected changes in the global petroleum logistics. This paper suggests a stochastic model for optimizing the offshore oil production under uncertainty. The proposed model incorporates robust optimization and restricted recourse framework, and uses the lower partial mean as the measure of variability of the recourse profit. Some computational experiments and results based on the proposed model using scenario-based data on the crude oil price and demand under uncertainty are examined and presented. This study would be meaningful in decision-making for the offshore oil production problem considering risks under uncertainty.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2018.05a
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• pp.251-253
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• 2018

As the prices of agricultural, fishery, and dairy products have been fluctuating due to recent instability on commodity prices, so consumers have been more inclined to make purchase without specific criteria by relying on marketing or their personal experiences and senses of market. The core function of this application is precisely and conveniently telling the consumption index to consumers who are waved by unstable commodity prices by helping users to easily understand the price index of agricultural, fishery, and dairy products in real time using public data. And, it also includes the AI Chatbot and voice recognition function, and meets the convenience of natural language processing and hands-free etc..

• The Korean Journal of Applied Statistics
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• v.19 no.1
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• pp.33-41
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• 2006

In this paper, we analyse the volatilities in financial data such as stock prices and exchange rates in term of a class of nonlinear time series models. We compare the performance of Generalized Autoregressive Conditional Heteroscadastic(GARCH) , Integrated GARCH(IGARCH), Exponential GARCH(EGARCH) models by KOSPI (Korean stock Prices Index) data. The estimation for the parameters in the models was carried out by the ML methods.

• Nuclear Engineering and Technology
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• v.9 no.3
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• pp.139-149
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• 1977

An attempt is made to establish an optimum fuel cycle strategy for the Go-ri nuclear power plant units 1 and 2. The total capital required for the fuel cycle operation is selected as a figure of merit for economic comparison of several alternative fuel cycle schemes available for the plant, and evaluated using a probabilistic method coupled with a sampling procedure of the fluctuating fuel cost data. The results are presented in the form of probability histograms. On the basis of the most likely values of the capital requirement obtained from the histograms, a conclusion is drawn that reprocessing cycle with either uranium only or both uranium and plutonium recycled is the most economic choice for the Go-ri plant.