• Communications for Statistical Applications and Methods
• /
• v.17 no.2
• /
• pp.293-308
• /
• 2010

In this paper, we examine the forecasting KOSPI 200 realized volatility by volatility measurements. The empirical investigation for KOSPI 200 daily returns is done during the period from 3 January 2003 to 29 June 2007. Since Korea Exchange(KRX) will launch VKOSPI futures contract in 2010, forecasting VKOSPI can be an important issue. So we analyze which volatility measurements forecast VKOSPI better. To test this hypothesis, we use 5-minute interval returns to measure realized volatilities. Also, we propose a new methodology that reflects the synchronized bidding and simultaneously takes it account the difference between overnight volatility and intra-daily volatility. The t-test and F-test show that our new realized volatility is not only different from the realized volatility by a conventional method at less than 0.01% significance level, also more stable in summary statistics. We use the correlation analysis, regression analysis, cross validation test to investigate the forecast performance. The empirical result shows that the realized volatility we propose is better than other volatilities, including historical volatility, implied volatility, and convention realized volatility, for forecasting VKOSPI. Also, the regression analysis on the predictive abilities for realized volatility, which is measured by our new methodology and conventional one, shows that VKOSPI is an efficient estimator compared to historical volatility and CRR implied volatility.

• Journal of the Korean Institute of Traditional Landscape Architecture
• /
• v.34 no.4
• /
• pp.98-109
• /
• 2016

The purpose of this study is to identify characteristics of spatial structure of Jiangnan water town in China which has been developed along the water channel. Spatial structural characteristics of the water town, Wuzhen and Nanxun in Zhejiang Province are as follows. First, location of town, spatial framework, lot division, and architectural style get determined by the water channel. The water channel is constructed in cross shape, T-shape, or in combination. Secondly, public space of water town is established along main water channel. Visually and functionally alternating private buildings are established on the water channel side and they are creating unique landscape of Jiangnan water town in overall harmony. Thirdly, residential area is established on the east-west water channel side with southward sunny-faced arrangement and waterside residence is in introvert spatial structure with courtyard but the exterior space is connected with water channel intimately. Fourthly, various spatial components along the water channel enrich the sense of place in water town. The components are corridor with roof, tea house, waterside steps, waterside theater and watergate etc. Uniqueness of place is becoming the core competence in modern townscape. In this aspect, Jiangnan water town with historical and cultural accumulation is suggesting a significant implication. Major implications are as follows. First, promotion of proximity to the water is the basic value that the spatial plan of waterfront needs to pursue. Secondly, mixed use is essential for effective land use and revitalization of waterfront. Thirdly, waterfront plan based on the local uniqueness as the place asset is being required.

• Land and Housing Review
• /
• v.13 no.1
• /
• pp.23-38
• /
• 2022

As city tourism has recently been evaluated as a major indicator of urban competitiveness, strengthening the role of cities as tourist destinations has received more attention. However, industrialization and urbanization of many cities lead to population decline, extinction of traditional industries, and deterioration of living environments, weakening urban functions and competitiveness. Thus, it is essential for declining cities to build a measure to restore urban competitiveness by enhancing urban functions. Accordingly, this study focused on socio-cultural urban regeneration by exploring physical spaces for tourism destinations in declining cities. Different from general tourist destinations, tourism destinations of urban regeneration have a temporal perspective covering the past, present, and future. How does the temporal perspective of urban regeneration tourist destinations affect tourists' satisfaction and behavioral intention? In order to address these questions, this study conducts an empirical analysis based on structural equation modeling (SEM) using the sample of tourists who have visited urban regeneration tourism destinations. With SEM, this paper investigates structural relationships across variables by testing the hypothesis established in the proposed research model. The results show that precious memories of the past are the most important factor for tourists to visit urban regeneration tourist destinations. The empirical findings of this study will contribute to the research areas of urban tourism, urban regeneration tourism, and urban regeneration tourism destinations. In addition, this study can provide practical implications to develop socio-cultural contents of urban regeneration areas as tourism resources to establish plans for urban regeneration projects and achieve sustainable development strategies.

• Conservation Science in Museum
• /
• v.29
• /
• pp.33-46
• /
• 2023

Modern and contemporary cultural assets are defined as a collective term for tangible historical and cultural assets produced in the modern and contemporary period (around the opening of Joseon to the present) in Korea. Among them, rickshaws have been used as a major means of transportation for about 40 years since the opening of the ports in Joseon. The repair process for rickshaws divides the rickshaw into three parts, namely the body, the cover, and the wheels, applying a plaster treatment process by referring to the outcomes of the condition assessment and material analysis for the metal, wood, fiber, and paint used. Overall, the repair process is carried out through dry/wet cleaning, joining, stabilization, reinforcement of damaged parts, and other restoration treatments, which reveal metal decorations and patterns on the scaffolding (flowers, arabesque patterns, etc.) that were previously not observable with the naked eye, while also adding to the stability of the artifact. In addition, props were produced to ensure the artifact's safe exhibition.

• Korea Science and Art Forum
• /
• v.24
• /
• pp.399-409
• /
• 2016

This study's purpose is to research the correlation between property and the major festivals with media art of exemplary 3 cities among 8 Unesco Media Art Creative Cities. As a result, it is drawn a conclusion that the below strategies are necessary to achieve success for Unesco Media Art Creative City. First, from the Creative City's point of view, on the basis of the maximization of various merits such as history, natural surroundings, and human resources of the city, it is necessary to reconcile a vision of the city and an identity of Media Art Creative City, and to seek for continuous growth of the city by consistency and durability of control tower within the local government. Second, from the local festival's point of view, it is necessary to provide a differentiated service in the existing media art festivals, to attract the fusion of media art and festivals, and the diversification and the popularization of media art programs. And, it needs to lead to involvement of young people with the fusion of on-line and off-line festivals, the fusion of analogue and digital festivals. In the conclusion, for the successful constructing of Media Art Creative City, it is necessary to maximize the merits of the city's own, to enhance the image for Media Art Creative City with the correlation between the merits and media art, and to differentiate the city's own various festivals, ant the same time, to converge them with media art technology. With these strategies, the local festival can make a new leap for global festival when it constitutes a whole with Media Art Creative City.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.17 no.3
• /
• pp.19-31
• /
• 2022

Currently, the role of public accelerators in the domestic accelerator market is gradually expanding. Accordingly, in order to establish relevant policies properly, it is necessary to check the effect and validity of public accelerators' investment. However, there is no quantitative research conducted on domestic accelerators, using their financial data, as domestic accelerators have a short history and quantitative data on them are not disclosed. Therefore, this study conducted an empirical analysis with financial data of the startups that received equity investments from public accelerators to confirm the effect of public accelerators'investment in startups. A regression analysis was conducted with financial data from 112 startups that acquired investments from public accelerators in the period of 2016~2020. And the findings are as follows: First, it was found that the initial investment of public accelerators had an effect on the growth and profitability of startups. Specifically, it was confirmed that the initial investment of public accelerators had a positive (+) effect on sales growth rates and total asset growth rates, which are growth indicators. Second, it was found that the joint investment of public accelerators had a significant positive (+) effect on profit margin, an indicator of profitability, rather than on growth. Therefore, it is deemed that it will be a great force for growth if investment in the early-stage startups that showed significant investment results in this study is continuously expanded in combination with support projects, which are a strength of public accelerators. Since this study has confirmed the investment effect of public accelerators, it is deemed necessary to actively promote policies that direct public accelerators' projects toward improving the performance of startups through joint investment with the private sector and supplementing private accelerators' deficiencies.

• Journal of the Korean Institute of Landscape Architecture
• /
• v.47 no.6
• /
• pp.115-128
• /
• 2019

Huam-dong is a representative area from the Japanese colonial period and is the space where most Japanese-style buildings remain in Seoul. Interest in modern cultural heritage continues to increase, including the registration of cultural properties in 2001, building assets in 2015, and the registration of cultural property units in 2018. As the debate continues over the necessity of preserving cultural heritage that reminds us of the Japanese colonial, there is a need for research to grasp the perceptions of stakeholders along with the perceived value of such spaces. This study identified the subjective perception types of the stakeholders concerned with the Japanese-style building group in Huam-dong, analyzed characteristics by types, and debated the issues. For this purpose, Q methodology, which is a statistical technique for measuring human self-subjectivity and extracting common human perspectives, was used. A literature study on the values of Huam-dong and modern cultural heritage was conducted, and a Q questionnaire based on five aspects of modern cultural heritage values (historical, architectural, sociocultural, landscape, and economic) was applied. The results of the study depicted three types of cognition and showed different attitudes toward the Japanese building group. This study found a conflict comparing the perceptional differences between the types of cognition. This study is meaningful in that it provides an in-depth approach to the perspectives of the stakeholders concerned with the Japanese-style buildings clustered in central Seoul. It is also meant to present a theoretical framework that can be applied to the use area as sustainable cultural heritage through the establishment of preservation and utilization of Japanese-style areas and conflict resolution.

• Korean Journal of Heritage: History & Science
• /
• v.53 no.2
• /
• pp.254-269
• /
• 2020

The purpose of this study is to propose guidance for wall renewal that is appropriate for an ancient city wall through application of advanced research and theories in wall design. It is a streetscape improvement project which forms part of the "Ancient City Image Finding Project". Study methods consist of advanced research classification, wall design theory contemplation, and analysis of the significance of designated ancient city areas and the "Ancient City Image Finding Project" status. Based on these methods, case study candidates were selected, case status and problems were identified, and improvement proposals were analyzed by comparing various features. Advanced wall research was classified into six categories including analysis of wall characteristics; wall design principle applications; wall structure, color, shape, and application; modern reinterpretation; palace walls; and house, temple, and village walls. The wall is an element of the streetscape improvement component of the "Ancient City Image Finding Project", with the characteristic of providing preceding experience in visual and cognitive awareness than interior structure. Case candidates for ancient city wall improvement are based on the composition distribution of the special conservation district in each ancient city as well as the conservation promotion district. Ultimately, the surrounding village of Gongju-si Geumseong-Dong Songsanri-gil, adjacent to the Royal Tomb of King Muryeong, was selected as the candidate. The "Ancient City Image Finding Project" of the surrounding village of Gongju-si Geumseong-Dong Songsanri-gil began with new Hanok construction. However, wall maintenance did not begin concurrently with that new Hanok construction. Support and maintenance took place afterwards as an exterior maintenance project for roadside structures. If the Hanok and wall were evaluated and constructed at the same time, the wall would have been built in unison with the size and design of the Hanok. The layout of the main building and wall of the Hanok is deemed to be a structure that is closed tightly because of its spatial proximity and tall height. Songsan-ri-gil's wall design should create a calm, subtle, and peaceful atmosphere with shapes, colors, and materials that express ancient city characteristics, but it is in an awkward position due to its sharpness and narrowness. The cause of the problem at Gongju-si Geumseong-dong Songsanri-gil, the case candidate, is that it is lacking significantly in terms of the aesthetic factors that traditional walls should possess. First, aesthetic consciousness seems to have disappeared during the selection and application process of the wall's natural materials. Second, the level of completion in design and harmony is absent. Maintenance guidance after analyzing the cause of problems in ancient city wall maintenance at Gongju-si Geumseong-dong Songsanri-gil, the subject area of research, is as follows: First, the Hanok design and layout of the wall and main gate should be reviewed simultaneously. Second, the one-sided use of natural stone wall in the Hanok wall design should be reexamined. Third, a permanent system to coordinate the opinions of citizens and experts during the planning and design phases should be employed. Fourth and finally, the Hanok's individuality shall be collectivized and its value as a cultural asset representing the identity of the community shall be increased.

• The Korean Journal of Archival Studies
• /
• no.48
• /
• pp.93-139
• /
• 2016

Aside from serving as a body that monitors and criticizes the government through reviews and comments on public issues, newspapers can also form and spread public opinion. Metadata contains certain picture records and, in the case of local newspapers, the former is an important means of obtaining locality. Furthermore, advertising in newspapers and the way of editing in newspapers can be viewed as a representation of the times. For the value of archiving in newspapers when a documentation strategy is established, the newspaper is considered as a top priority that should be collected. A newspaper archive that will handle preservation and management carries huge significance in many ways. Journalists use them to write articles while scholars can use a newspaper archive for academic purposes. Also, the NIE is a type of a practical usage of such an archive. In the digital age, the newspaper archive has an important position because it is located in the core of MAM, which integrates and manages the media asset. With this, there are prospects that an online archive will perform a new role in the production of newspapers and the management of publishing companies. Korea Integrated News Database System (KINDS), an integrated article database, began its service in 1991, whereas Naver operates an online newspaper archive called "News Library." Initially, KINDS received an enthusiastic response, but nowadays, the utilization ratio continues to decrease because of the omission of some major newspapers, such as Chosun Ilbo and JoongAng Ilbo, and the numerous user interface problems it poses. Despite these, however, the system still presents several advantages. For example, it is easy to access freely because there is a set budget for the public, and accessibility to local papers is simple. A national library consistently carries out the digitalization of time-honored newspapers. In addition, individual newspaper companies have also started the service, but it is not enough for such to be labeled an archive. In the United States (US), "Chronicling America"-led by the Library of Congress with funding from the National Endowment for the Humanities-is in the process of digitalizing historic newspapers. The universities of each state and historical association provide funds to their public library for the digitalization of local papers. In the United Kingdom, the British Library is constructing an online newspaper archive called "The British Newspaper Archive," but unlike the one in the US, this service charges a usage fee. The Joint Information Systems Committee has also invested in "The British Newspaper Archive," and its construction is still ongoing. ProQuest Archiver and Gale NewsVault are the representative platforms because of their efficiency and how they have established the standardization of newspapers. Now, it is time to change the way we understand things, and a drastic investment is required to improve the domestic and international online newspaper archive.

• Journal of the Economic Geographical Society of Korea
• /
• v.9 no.1
• /
• pp.23-38
• /
• 2006

This study attempts to investigate the spatial characteristics of cultural economies of Bukchon in Seoul, where abundant cultural assets exist. This area has been the administrative-political core locale since 14C, therefore, a lot of traditional- and contemporary-cultural facilities are remains, This area possessed unique place characteristics by coexisting traditional and modern cultures, and thus attracted to culture demanders. Recently many economic activities have increased in this area, and most of them are related with the cultural elements of the region, In particular creative retail shops, which produce goods by flexible-specialized production system, have been agglomerated in this area, The goods are designed, produced, and sold at the shop place. Most of them are uniquely designed hand made products, and produced a few amount. The economic value of these products related with the cultural environment of Bukchon. These creative shops emerged at the front of Samcheongdong street in the beginning, and then have diffused into the inside of Samcheongdong street and Hwagae street. The shops have very unique exteriors related with traditional houses in this area, and located on roadsides where are not many passerby. Most owners of the retail stores are highly educated and studied design, and produce goods by themselves at the shops. The reason that they opened their shops in Bukchon is directly related with the unique cultural environment of this area. They hope that more unique and artistic stores join this area so that developed this area as culture and fashion combined area.