• The Korean Journal of Financial Management
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• v.22 no.1
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• pp.71-91
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• 2005

The object or this paper is to analyze the rollover effect on KOSPI 200 index option prices. Especially we analyze the implied volatilities of the options that became the near maturity options as the old one expired. For this analysis, a panel data of KOSPI 200 Index Option Prices from year 1999 to year 2001 were used, and following results were obtained. First, after controlling for the underlying index returns, strike prices and other pricing factors, the call option prices tend to decrease while the put option prices tend to increase during the week of expiry. Second, if one concentrates on the daily price changes, call option prices tend to go up on Thursday (as the old options expire), and then experience a price decrease on the following day, while the reverse is true for the put options. These results imply that the option prices are affected by some of the market micro-structure effects such as whether the option is the near maturity option. We conjecture that the reason for this is related to the undervaluation of KOSPI 200 futures. The results from this paper have implications on the timing of option trades. If one wants to buy put options, and/or sell call options, he has better off by executing his intended trades before the old options expire. On the other hand, if one wants to buy call options, and/or sell put options, hi has better off by executing his intended trades after the expiry.

• Journal of Korean Tunnelling and Underground Space Association
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• v.15 no.5
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• pp.505-522
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• 2013

Previously, a new concept of indexing methodology has been proposed for quantitative assessment of tunnel collapse hazard level at each tunnel face with respect to the given geological data, design condition and the corresponding construction activity (Shin et al, 2009a). In this paper, 'linear' model, in which weights of influence factors are invariable, and 'non-linear' model, in which weights of influence factors are variable, are taken into account with some examples. Then, the 'non-linear' model is validated by using 100 tunnel collapse cases. It appears that 'non-linear' model allows us to have adapted weight values of influence factors to characteristics of given tunnel site. In order to make a better understanding and help for an effective use of the system, a series of operating processes of the system are built up. Then, by following the processes, the system is applied to a real-life tunnel project in very weak and varying ground conditions. Through this approach, it would be quite apparent that the tunnel collapse hazard indices are determined by well interlinked consideration of face mapping data as well as design/construction data. The calculated indices seem to be in good agreement with available electric resistivity distribution and design/construction status. In addition, This approach could enhance effective usage of face mapping data and lead timely and well corresponding field reactions to situation of weak tunnel faces.

• Journal of Global Scholars of Marketing Science
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• v.11
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• pp.147-163
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• 2003

Recently it is necessary that Hotel business introduce Information Technology to enhance competitive advantage and cope with changeable business promptly in management. Thus in an effort of using Information Technology strategically, Many Hotel business tries to install CRM system (Customer Relationship Management). This study tries to analyze the effects on customer performance by installing CRM system if it is in charge of major strategic system, it can get successful customer performance. I hypothesize to resolve the problem, and search preceding study results concerning the elements of CRM Installment and Customer performance. The survey was taken to emplyees in the field of CRM installment in Luxury hotel to test the hypothesis. To summarize the results, first, CRM intallment affects CRM customer performance. in short, systematic feature, management environment, information intention, and technologic element affect it. Through this study, facing the limitation and future study are below. first, additional parameter should be considered though I reviewed the elements affecting CRM customer performance by searching and abstracting preceding studies. Second, There are lack of preceding studies because it has passed only a couple of years since Korean businesses deal with CRM system and there is the limitation to compare this result with others due to few empirical analysisses. Especilly, I can hardly find the preceding study concerning hotel industry but tries to search preceding parameter as to the customer performance of CRM system. Until now, It is needed to continual study its measurement later. I believe that more specific study and precise theoretical test be performed and they deal with current CRM system installment and facing problems in all of the korean hotels.

• Economic and Environmental Geology
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• v.47 no.6
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• pp.611-623
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• 2014

The alluvial aquifer, widely developed near the four major rivers such as Nakdong River, can be used effectively for groundwater artificial recharge and is expected to be the future water resources in Korea. This study is aimed at examining the impact of repeatedly injected river water into the riverside alluvial aquifer on injection rate or efficiency in its system at Changweon area. For this, injection tests were performed two times, first on June 19 and second on September 25 through October 9, 2013, and the mixing ratios of river water to groundwater were used as the tool to compare the efficiency of injection. The mixing ratios were evaluated by using electrical conductivities of injected river water (average $EC=303{\mu}S/cm$) and groundwater ($EC{\fallingdotseq}6,000{\mu}S/cm$) measured at 20 m depth of four observation wells installed 10 m apart from each injection well. The result shows the remarkable differences on two respects. First, in some observation well, detection time for incipient injection effect during $2^{nd}$ injection test was shown to be much slower than that of $1^{st}$ injection test. Second, the hourly increasing rate of mixing ratios in $2^{nd}$ test was revealed to be reduced much more than that of $1^{st}$ test. This means that the efficiency of injection was badly deteriorated by only 1,210 minute injection work. Therefore, injection water needs to be adequately treated beforehand and repeated pumping work and/or resting phase is needed afterwards. To a certain extent, the improvement of water quality in saline aquifer was verified in this system by injection tests.

• Journal of the Korean Institute of Landscape Architecture
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• v.39 no.1
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• pp.22-34
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• 2011

In recent years, there has been an active movement toward databasing, systematizing, and unifying environmental information. Such efforts facilitate the utilization of spatial environment planning in environment conservation officially planned at the metropolitan and provincial levels. This in turn clarifies the management direction of space, thereby serving as an effective tool with which to not only conserve land, but also provide a reasonable compromise to all the related solutions at odds with one another. As such, this study forwards a method for inclusion of spatial environment planning in environment conservation plans, paying particular attention to the place, with in such a planning method, of the natural ecosystem, arguably the most sensitive arena among environmental factors. Spatial environment planning can be broadly divided as follows: first, basic direction; second, collection of spatial information; third, compilation of status of spatial environment; and fourth, management strategy for spatial environment. In particular, the second phase, namely the collection of spatial information, delineates clearly spatial information hitherto amassed by government agencies at both the national and local levels; the ensuing lists facilitate maximum utilization of the previously accumulated data. Used during the planning phase, status maps should include not only the status of land use(land cover), but also systematic data on the superior resources of the natural ecosystem as well as the status of the given spatial environment. Establishing plans for ecological networks, their conservation, and restoration areas based on the aforementioned aspects, this study sought to formulate ways in which to spatialize environment conservation plans that encompass consideration for the natural ecosystem. Devised based previous studies and examples, the compilation of status and plans as stated, applied to Gyeonggi Province, afforded an examination of the potential applicability and usability of the proposed plans. Ultimately, these will contribute not only to the establishment of plans encompassing consideration for the value and level of significance of the given natural ecosystem in spatial development planning, but also provide fundamental data for investigating appropriateness of plans and validity of location in any regional development plan.

• Journal of KIISE:Databases
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• v.33 no.1
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• pp.102-116
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• 2006

Electronic catalogs (or e-catalogs) hold information about the goods and services offered or requested by the participants, and consequently, form the basis of an e-commerce transaction. Catalog management is complicated by a number of factors and product classification is at the core of these issues. Classification hierarchy is used for spend analysis, custom3 regulation, and product identification. Classification is the foundation on which product databases are designed, and plays a central role in almost all aspects of management and use of product information. However, product classification has received little formal treatment in terms of underlying model, operations, and semantics. We believe that the lack of a logical model for classification Introduces a number of problems not only for the classification itself but also for the product database in general. It needs to meet diverse user views to support efficient and convenient use of product information. It needs to be changed and evolved very often without breaking consistency in the cases of introduction of new products, extinction of existing products, class reorganization, and class specialization. It also needs to be merged and mapped with other classification schemes without information loss when B2B transactions occur. For these requirements, a classification scheme should be so dynamic that it takes in them within right time and cost. The existing classification schemes widely used today such as UNSPSC and eClass, however, have a lot of limitations to meet these requirements for dynamic features of classification. In this paper, we try to understand what it means to classify products and present how best to represent classification schemes so as to capture the semantics behind the classifications and facilitate mappings between them. Product information implies a plenty of semantics such as class attributes like material, time, place, etc., and integrity constraints. In this paper, we analyze the dynamic features of product databases and the limitation of existing code based classification schemes. And describe the semantic classification model, which satisfies the requirements for dynamic features oi product databases. It provides a means to explicitly and formally express more semantics for product classes and organizes class relationships into a graph. We believe the model proposed in this paper satisfies the requirements and challenges that have been raised by previous works.

• Journal of Korean Society of Forest Science
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• v.100 no.3
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• pp.423-431
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• 2011

The changes of forest degradation in North Korea have closely been related to political, economic and social conditions at all different times. The deforestation by local people for their livelihood has been accelerated when the recession has been worsened due to the 1990's collapse of socialism and the years of natural disasters, and the fall of the centralized and planned economy system. The serious recession in the 1990's has brought many changes in the North Korean society since the 2000's. Not only the underground economy, but also the market in which personal trades are occurred have been expanded as the distribution system of the planned economy system had fallen. In addition, even many state institutions have also increased timber harvest for export to acquire insufficient foreign currency. Eventually, North Korea felt the limits of utilization of forest resources under socialism then started to seek measures to restore devastated forest, while realizing the need of support from the international society. Therefore, some NGOs of South Korea started to give financial support on building tree nurseries in which seedlings for planting are produced to help the rehabilitation of the degraded forests in North Korea. Therefore, Planning of the basic directions for forest rehabilitation programs considering to economic and social conditions of North Korea are needed based on the successful rehabilitation experience of South Korea in the 1970's. First of all, relationships which was built after collapse of centrally planned economy between districts, businesses and workers must be consider to rehabilitate forests in North Korea. Secondly, due to the nature of forest rehabilitation projects this is very needs voluntary participation of resident for a long time, and then forest rehabilitation projects can create jobs for local resident, they can obtain continuous income on the forest rehabilitation projects field in order to promote resident's work in forest rehabilitation projects. Thirdly, the rate dependence on forests of the residents living must keep the level down by rural development projects going side by side with forest rehabilitation projects. Fourthly, use of exsisting forest management system in North Korea is also needed to ensure administrative power and labor for grand scale plantations in a short period of time. Meanwhile after the success of Forest Rehabilitation, it is very important to improve exsisting forest management system.

• Journal of Korea Water Resources Association
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• v.56 no.11
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• pp.775-784
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• 2023

With the increasing trend of extreme rainfall that exceeds the design frequency of man-made structures due to extreme weather, it is necessary to review the safety of agricultural reservoirs designed in the past. However, there are no local government-managed reservoirs (13,685) that can be discharged in an emergency, except for reservoirs over a certain size under the jurisdiction of the Korea Rural Affairs Corporation. In this case, it is important to quickly deploy a mobile siphon to the site for preliminary discharge, and this study evaluated the applicability of a mobile siphon with a diameter of 200 mm, a minimum water level difference of 6 m, 420 (m²/h), and 10,000 (m²/day), which can perform both preliminary and emergency discharge functions, to the Yugum Reservoir in Gyeongju City. The test bed, Yugum Reservoir, is a facility that was completed in 1945 and has been in use for about 78 years. According to the hydrological stability analysis, the lowest height of the current dam crest section is 27.15 (EL.m), which is 0.29m lower than the reviewed flood level of 27.44 (EL.m), indicating that there is a possibility of lunar flow through the embankment, and the headroom is insufficient by 1.72 m, so it was reviewed as not securing hydrological safety. The water level-volume curve was arbitrarily derived because it was difficult to clearly establish the water level-flow relationship curve of the reservoir since the water level-flow measurement was not carried out regularly, and based on the derived curve, the algorithm for operating small and medium-sized old reservoirs was developed to consider the pre-discharge time, the amount of spillway discharge, and to predict the reservoir lunar flow time according to the flood volume by frequency, thereby securing evacuation time in advance and reducing the risk of collapse. Based on one row of 200 mm diameter mobile siphons, the optimal pre-discharge time to secure evacuation time (about 1 hour) while maintaining 80% of the upper limit water level (about 30,000 m²) during a 30-year flood was analyzed to be 12 hours earlier. If the pre-discharge technology utilizing siphons for small and medium-sized old reservoirs and the algorithm for reservoir operation are implemented in advance in case of abnormal weather and the decision-making of managers is supported, it is possible to secure the safety of residents in the risk area of reservoir collapse, resolve the anxiety of residents through the establishment of a support system for evacuating residents, and reduce risk factors by providing risk avoidance measures in the event of a reservoir risk situation.

• Journal of Food Hygiene and Safety
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• v.27 no.1
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• pp.42-49
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• 2012

This study was carried out to investigate the toxicity of food Red No.2 in the Sprague-Dawley (SD) female rat for 4 weeks. SD rats were orally administered for 28 days, with dosage of 500, 1,000, 2,000 mg/kg/day. Animals treated with food Red No.2 did not cause any death and show any clinical signs. They did not show any significant changes of body weight, feed uptake and water consumption. There were not significantly different from the control group in urinalysis, hematological, serum biochemical value and histopathological examination. In conclusion, 4 weeks of the repetitive oral medication of food Red No.2 has resulted no alteration of toxicity according to the test materials in the group of female rats with injection of 2,000 mg/kg. Therefore, food Red No.2 was not indicated to have any toxic effect in the SD rats, when it was orally administered below the dosage 2,000 mg/kg/day for 4 weeks.

• Asia Marketing Journal
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• v.12 no.4
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• pp.55-78
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• 2011

Recently strategic alliance between business firms has become prevalent to overcome increasing competitive threats and to supplement resource limitation of individual firms. As one of allianced sales promotion activities, a new type of discount program, so called "Alliance Card Discount", is introduced with the partnership of credit cards and loyalty cards. The program mainly pursues short-term sales growth by larger discount scheme while spends less through cost share among alliance partners. Thus this program can be regarded as cost efficient discount promotion. But because there is no solid evidence that it can really deliver profitable sales growth, an empirical study for its effects on sales and profit should be conducted. This study has two basic research questions concerning the effects of allianced discount program ; 1)the possibility of sales increase 2) the profitability of the discount driven sales. In F&B industry, sales increase mainly comes from increased guest count. Especially in family restaurants, to increase the number of guests we need to enlarge the size of visitor group (number of visitors for one group) because customers visit by group in a special occasion. And because they pay the bill by group(table), the increase of sales per table is a key measure for sales improvement. The past researches for price & discount sensitivity and reference discount rate explain that price sensitive consumers have narrow reference discount zone and make rational purchase decision. Differently from all time discount scheme of regular sales promotions, the alliance card discount program only provides the right to get discount like discount coupon. And because it is usually once a month opportunity given by the past month usage level, customers tend to perceive alliance card discount as a rare chance to get. So that we can expect customers try to maximize the discount effect when they use the limited discount opportunity. Considering group visiting practice and low visit frequency of family restaurants, the way to maximize discount effect should be the increase the size of visit group. And their sensitivity to discount and rational consumption behavior defer the additional spending for ordering high price menu, even though they get considerable amount of savings from the discount. From the analysis of sales data paid by alliance discount cards for four months, we found the below. 1) The relation between discount rate and number of guest per table is positive : 25% discount results one additional guest 2) The relation between discount rate and the spending per guest is negative. 3) However, total profit amount per table is increased when discount rate is increased. 4) Reward point accumulation & redemption did not show any significant relationship with the increase of number of guests. These results suggest that the allianced discount program substantially contributes to sales increase and profit improvement by increasing the number of guests per table. Though the spending per guest is decreased by discount rate increase, the total amount of profit per table is improved. It seems the incremental profit by increased guest count offsets the profit decrease. Additional intriguing finding is the point reward system does not have any significant impact on the increase of number of guest, even if the point accumulation & redemption of loyalty program are usually regarded as another saving offers by customers. In sum, because it is proved that allianced discount program with credit cards and loyalty cards is effective to both sales drive and profit increase, the alliance card program could be recommended as strategically buyable program.