• Journal of Korea Game Society
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• v.10 no.3
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• pp.15-24
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• 2010

Web-based MMORTS has features that distinguish it from traditional client-based games. First, Web-based MMORTS is represented by the combination of graphics and texts. Second, there is parallax agent which has a player and a base town character. This paper written for the purpose of analyzing the storytelling of web-based MMORTS, and from Innogames selected as the subjects of the study. In view of the results so far achieved, the fact, when the player logs in web-based MMORTS, the player takes the experience after some time which had taken by the AI character instead of the player logged out and User Generated Storytelling created from this process, become known. This paper has a meaning for Web-based virtual world which can juxtaposition with routine tasks and can be linked with other platforms.

• The Korean Journal of Financial Management
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• v.6 no.1
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• pp.31-62
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• 1989

By using deterministic dynamic models, we observe the behavior of the foreign exchange rate of a small open economy with rational expectation formation and different restrictions on the international economic integrations. First, an economy connected to the world by purchasing power parity and uncovered interest parity is studied in the next section. In both sections, financial assets available in the economy are domestic money and bonds. Stocks are added as a financial instrument in the next section, and real capital accumulation is also taken into account. Furthermore, the economy concerned there is fairly autonomous, and not directly governed by either purchasing power parity or uncovered interest parity. The expectation formation used throughout the whole paper is complete perfect foresight, which is the certainty version of rational expectation and free from any forecast errors. It is found that upon monetary expansion the short run depreciation of the foreign exchange rate is a fairly robust result regardless of the degree of the international economic integration, while it is not true for fiscal expansion. The expectation on the long run state significantly affects the short run response of the exchange rate. All of our models postulate that the current account should be balanced eventually. As the result, the short run behavior of the exchange rate is affected by the expectation on the long run balance and may well be a blend of the traditional flow view and modem asset view. The initial overshooting of the exchange rate is easily observed even in the fairly autonomous economy Furthermore, the initial overshooting is not reduced over time, but augmented for some time before it is eventually eliminated. As long as we maintain rational expectaion, introducing time delay in the adjustment of the foreign goods price to the foreign exchange rate does not make much difference.

• The Korean Journal of Financial Management
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• v.18 no.1
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• pp.107-128
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• 2001

금융기관이 직면하는 시장위험관리와 관련된 연구는 이자율과 주식가격 변동위험, 또는 환율과 이자율 변동위험만을 고려한 자산배분모델이므로 그 모형의 정교성에도 불구하고 국제금융기관의 시장위험관리 모형으로 이용하기에는 부족한 점이 있다. 시장위험인 VAR를 측정하는 방법 중 포트폴리오 VAR 측정방법인 델타-노말 방법을 응용하여 금융기관이 시장위험을 종합적으로 관리하는 한편, 기대수익을 최대화시키는 자산-부채의 최적배분에 대한 모형을 유도할 수 있다. 본 논문은 포트폴리오 접근법을 이용하여 금융기관의 시장위험을 종합적으로 관리할 수 있는 모형을 개발하는 동시에 미국, 일본, 영국, 독일의 주요 금융자산의 가격변동자료를 바탕으로 실증적 분석을 시도하였다. 이론적 모형과 관련하여 국제금융기관이 시장위험을 통제하는 한편 목표수익을 달성하는데 필요한 $m_1$ 종류의 국내자산과 부채의 규모, $m_2$ 종류의 외화자산과 부채의 규모를 동시적으로 결정할 수 있는 모델을 개발하였다. 이 모형은 금융기관의 위험포지션과 목표수익이 변동함에 따라 재구성되어야 할 국내외 자산과 부채의 포트폴리오에 대한 종류와 규모를 구체적으로 파악할 수 있게 한다. 실증분석을 위해 미국에 본점을 두고 미국, 일본, 영국, 독일에서 영업활동을 하는 국제금융기관이 16개의 국내외 금융자산을 이용 가능한 것으로 가정하였다. 1995년 1월부터 1999년 6월까지 이들 금융자산의 월별자료와 각 국 통화의 대 U.S. 달러 환율을 이용하여 목표이익 10,000천 달러를 실현하는 한편 이자율과 환율 위험을 최소화시키는 자산, 부채의 적정구성에 관한 결과를 제시하였다.구의 성과로는 특정 투자자 집단이 주가의 움직임에 따라 매매를 하는 수동적 전략의 의미보다는 적극적으로 주가를 움직이는 주체로서 외국인투자자와 일부 기관투자자의 존재를 확인할 수 있었다는 점이며, 주가 움직임에 따른 개인투자자와 일부 기관 투자자의 수동적 매매 스타일과 기관투자자 사이의 투자스타일의 이질성을 통계적으로 확인할 수 있었다는 데에 있다.남아 각국과 우리나라간에는 주가변동에 시차가 없는 것으로 나타났다. 그러나 각국간 표준시차 및 거래소 거래시간을 고려하면 미국, 영국, 독일의 경우에도 그 시차는 1일이내이거나 거의 시차가 없는 것으로 판단된다. 발견되어 선물의 선도효과가 지배적임을 발견하였다.적 일정하게 하는 소비행동을 목표로 삼고 소비와 투자에 대한 의사결정을 내리고 있음이 실증분석을 통하여 밝혀졌다. 투자자들은 무위험 자산과 위험성 자산을 동시에 고려하여 포트폴리오를 구성하는 투자활동을 행동에 옮기고 있다.서, Loser포트폴리오를 매수보유하는 반전거래전략이 Winner포트폴리오를 매수보유하는 계속거래전략보다 적합한 전략임을 알 수 있었다. 다섯째, Loser포트폴리오와 Winner포트폴리오를 각각 투자대상종목으로써 매수보유한 반전거래전략과 계속거래 전략에 대한 유용성을 비교검증한 Loser포트폴리오와 Winner포트폴리오 각각의 1개월 평균초과수익률에 의하면, 반전거래전략의 Loser포트폴리오가 계속거래전략의 Winner포트폴리오보다 약 5배정도의 높은 1개월 평균초과수익률을 실현하였고, 반전거래전략의 유용성을 충분히 발휘하기 위하여 장단기의 투자기간을 설정할 경우에 6개월에서 36개월로 이동함에 따라 6개월부터 24개월까지는 초과수익률이 상승하지만,

• The Korean Journal of Financial Management
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• v.21 no.1
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• pp.125-148
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• 2004

This paper deals with the relationship between money supply and the stock market. However, unlike past works, it has employed a rational expectation hypothesis and an efficient market hypothesis drawn from new classical macroeconomics and new Keynesian macro-economics, respectively. Accordingly, hypothesis 1 states that if economic subjects have rational expectation, they will immediately respond to a change in money supply. On the other hand, hypothesis 2 supposes that the expectation of economic subjects has changed after the currency crisis. This paper has first identified unit root by using the augmented Dickey-Fuller test and the Phillips-Perron test, then testing both hypotheses by employing the Johansen Procedure and vector error correction model for the periods before and after a currency crisis.

• Electronics and Telecommunications Trends
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• v.17 no.1 s.73
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• pp.21-31
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• 2002

1990년대 중반 이후 인터넷을 중심으로 한 데이터통신의 급성장, 고객 통신욕구의 다양화, 규제완화 및 시장경쟁 심화 등으로 인해 통신사업자들은 경쟁대응의 전략으로, 그리고 벤더들은 새로운 시장 패러다임에서의 주도권 유지를 위해 차세대 네트워크에 관심을 가지게 되었다. 본 논문에서는 현재 통신시장에서 각 구성원들의 차세대 네트워크에 대한 준비를 시차를 두고 분석하여 시장상황과 결합하여 이를 평가하고 향후 전략적 고려사항을 제시하고 있다. 새로운 네트워크의 구축은 내부구조의 조정과 외부고객에 대한 대응의 차원에서 지속적으로, 그리고 보다 강력하게 전개될 것이며 다만 각 주체들의 시각과 전개방향은 상황에 대한 해석에 따라 달라질 것이다.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.11
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• pp.7690-7697
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• 2015

This study is to reveal structural causal relationship of individual factors influencing association member's substantive payment in the economic view which is a critical factor of project implementation and identify its influence through simulation and actual proof analysis. As the results of analysis, the first, association member's substantive payment is decided to allow for the difference between special price for association members and general price and the profit arising between the time of approval of disposal plan and moving in. The second, on analysis of sensitivity of individual factors influencing association member's substantive payment, floor area ratio applied to project has the biggest influence. Association member's payment is also greatly influenced by the subject of cost allocation for establishing infrastructure in project area. The third, this study set up a structure model based on causal relationship among the factors deciding association member's payment and empirically examined influence and path of influence which the individual factors exercise. The result indicates that control elements and regional characteristic elements influence association member's payment through the medium of plan elements.

• Korean Chemical Engineering Research
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• v.50 no.4
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• pp.666-671
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• 2012

Gas hydrates are inclusion compounds formed when small-sized guest molecules are incorporated into the well defined cages made up of hydrogen bonded water molecules. Since large masses of natural gas hydrates exist in permafrost regions or beneath deep oceans, these naturally occurring gas hydrates in the earth containing mostly $CH_4$ are regarded as future energy resources. The heat of dissociation is one of the most important thermal properties in exploiting natural gas hydrates. The accurate and direct method to measure the dissociation enthalpies of gas hydrates is to use a calorimeter. In this study, the high pressure micro DSC (Differential Scanning Calorimeter) was used to measure the dissociation enthalpies of methane, ethane, and propane hydrates. The accuracy and repeatability of the data obtained from the DSC was confirmed by measuring the dissociation enthalpy of ice. The dissociation enthalpies of methane, ethane, and propane hydrates were found to be 54.2, 73.8, and 127.7 kJ/mol-gas, respectively. For each gas hydrate, at given pressures the dissociation temperatures which were obtained in the process of enthalpy measurement were compared with three-phase (hydrate (H) - liquid water (Lw) - vapor (V)) equilibrium data in the literature and found to be in good agreement with literature values.

• Korean Journal of Heritage: History & Science
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• v.44 no.1
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• pp.52-71
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• 2011

This study was initiated with the intent to consider the features of Gugokwonlim and to compare Gabsagugok(甲寺九曲) to Yongsangugok(龍山九曲) against the backdrop of Mt. Gyeryong by revealing their nature and confirming the names and exact locations. A literature review, interviews with local people and field studies confirmed that Gabsagugok and Yongsangugok are each composed of 9 seasonal features. The former is made up of Yongyuso(龍遊沼) - Iilcheon(二一川) - Baengnyonggang(白龍岡) - Dalmuntaek(達門澤) - Geumgyeam(金鷄?) - Myeongwoldam(明月潭) - Gyemyeongam(鷄鳴巖) - Yongmunpok(龍門瀑) - Sujeongbong(水晶峰) while the latter is made up of Simyongmun(尋龍門) - Eunnyongdam(隱龍潭) - Waryonggang(臥龍剛) - Yuryongdae(遊龍臺) - Hwangnyongam(黃龍岩) - Hyeollyongso(見龍沼) - Ullyongtaek(雲龍澤) - Biryongchu(飛龍湫) - Sillyongyeon(神龍淵). Both Gabsagugok and Yongsangugok are part of Gugokwonlim built in the valleys of Mt. Gyeryong in the late Joseon Dynasty by Byeoksu Yun Deok-yeong (1927) and Chwieum Gwon Jun-myeon (1932), respectively, with a 5 year difference. Gabsagugok was supposedly designed to reflect an individual taste for the arts and to admire principles of Juyeok (ch. Zhouyi) and the beauty of nature. On the contrary, Yongsangugok appears to be the builder's expression of his longing for independence day, likened to the life of a dragon after receiving the sad news of Japan's annexation of Korea. Such differences show that these two builders had very different intentions from one another. The letters of Gabsagugok have a semi cursive style and were deeply engraved on the rock in a square shape. Consequently they have not been worn away except for those in Yongyuso, the first Gok. In contrast, the letters in Yongsangugok have an antiquated, cursive-Yija style but because they were engraved relatively lightly, serious wear and damage occurred. In terms of location, Gabsagugok was built around Ganseongjang adjacent to the 5th Gok while Yongsangugok was set up around the 5th Gok, Hwangnyongam. Meanwhile, the important motif which forms the background of Gabsagugok seemingly highlights the geographic identity of Mt. Gyeryong using the dragon and the chicken as themes. It also appears to symbolize the principles of Juyeok focusing on Kan of the Eight Trigrams for divination; this requires an in-depth study for confirmation. The main motif and theme of Yongsangugok is the dragon. It infuses the builder's intentions in Sangsinri Valley by communicating with nature through a story of a dragon's life from birth to ascension. It is assumed that he tried to use this story to express his hope for restoring the national spirit and reconstructing the country.

• Journal of Intelligence and Information Systems
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• v.23 no.3
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• pp.1-27
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• 2017

It is known that the economic sentiment index and macroeconomic indicators are closely related because economic agent's judgment and forecast of the business conditions affect economic fluctuations. For this reason, consumer sentiment or confidence provides steady fodder for business and is treated as an important piece of economic information. In Korea, private consumption accounts and consumer sentiment index highly relevant for both, which is a very important economic indicator for evaluating and forecasting the domestic economic situation. However, despite offering relevant insights into private consumption and GDP, the traditional approach to measuring the consumer confidence based on the survey has several limits. One possible weakness is that it takes considerable time to research, collect, and aggregate the data. If certain urgent issues arise, timely information will not be announced until the end of each month. In addition, the survey only contains information derived from questionnaire items, which means it can be difficult to catch up to the direct effects of newly arising issues. The survey also faces potential declines in response rates and erroneous responses. Therefore, it is necessary to find a way to complement it. For this purpose, we construct and assess an index designed to measure consumer economic sentiment index using sentiment analysis. Unlike the survey-based measures, our index relies on textual analysis to extract sentiment from economic and financial news articles. In particular, text data such as news articles and SNS are timely and cover a wide range of issues; because such sources can quickly capture the economic impact of specific economic issues, they have great potential as economic indicators. There exist two main approaches to the automatic extraction of sentiment from a text, we apply the lexicon-based approach, using sentiment lexicon dictionaries of words annotated with the semantic orientations. In creating the sentiment lexicon dictionaries, we enter the semantic orientation of individual words manually, though we do not attempt a full linguistic analysis (one that involves analysis of word senses or argument structure); this is the limitation of our research and further work in that direction remains possible. In this study, we generate a time series index of economic sentiment in the news. The construction of the index consists of three broad steps: (1) Collecting a large corpus of economic news articles on the web, (2) Applying lexicon-based methods for sentiment analysis of each article to score the article in terms of sentiment orientation (positive, negative and neutral), and (3) Constructing an economic sentiment index of consumers by aggregating monthly time series for each sentiment word. In line with existing scholarly assessments of the relationship between the consumer confidence index and macroeconomic indicators, any new index should be assessed for its usefulness. We examine the new index's usefulness by comparing other economic indicators to the CSI. To check the usefulness of the newly index based on sentiment analysis, trend and cross - correlation analysis are carried out to analyze the relations and lagged structure. Finally, we analyze the forecasting power using the one step ahead of out of sample prediction. As a result, the news sentiment index correlates strongly with related contemporaneous key indicators in almost all experiments. We also find that news sentiment shocks predict future economic activity in most cases. In almost all experiments, the news sentiment index strongly correlates with related contemporaneous key indicators. Furthermore, in most cases, news sentiment shocks predict future economic activity; in head-to-head comparisons, the news sentiment measures outperform survey-based sentiment index as CSI. Policy makers want to understand consumer or public opinions about existing or proposed policies. Such opinions enable relevant government decision-makers to respond quickly to monitor various web media, SNS, or news articles. Textual data, such as news articles and social networks (Twitter, Facebook and blogs) are generated at high-speeds and cover a wide range of issues; because such sources can quickly capture the economic impact of specific economic issues, they have great potential as economic indicators. Although research using unstructured data in economic analysis is in its early stages, but the utilization of data is expected to greatly increase once its usefulness is confirmed.