• Economic Analysis
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• v.26 no.1
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• pp.84-132
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• 2020

A central bank infers market expectations of future yields based on yield curves. The central bank needs to precisely understand the changes in market expectations of future yields in order to have a more effective monetary policy. This need explains why a range of models have attempted to produce yield curves and market expectations that are as accurate as possible. Alongside the development of bond markets, the interconnectedness between them and macroeconomic factors has deepened, and this has rendered understanding of what macroeconomic variables affect yield curves even more important. However, the existence of various theories about determinants of yields inevitably means that previous studies have applied different macroeconomics variables when estimating yield curves. This indicates model uncertainties and naturally poses a question: Which model better estimates yield curves? Put differently, which variables should be applied to better estimate yield curves? This study employs the Dynamic Nelson-Siegel Model and takes the Bayesian approach to variable selection in order to ensure precision in estimating yield curves and market expectations of future yields. Bayesian variable selection may be an effective estimation method because it is expected to alleviate problems arising from a priori selection of the key variables comprising a model, and because it is a comprehensive approach that efficiently reflects model uncertainties in estimations. A comparison of Bayesian variable selection with the models of previous studies finds that the question of which macroeconomic variables are applied to a model has considerable impact on market expectations of future yields. This shows that model uncertainties exert great influence on the resultant estimates, and that it is reasonable to reflect model uncertainties in the estimation. Those implications are underscored by the superior forecasting performance of Bayesian variable selection models over those models used in previous studies. Therefore, the use of a Bayesian variable selection model is advisable in estimating yield curves and market expectations of yield curves with greater exactitude in consideration of the impact of model uncertainties on the estimation.

• The Korean Journal of Franchise Management
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• v.2 no.1
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• pp.173-199
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• 2011

A franchisee has to depend on the overall system, such as knowhow and management support, from a franchisor in the franchise system and the two parties do not start with the same position in economic or information power because the franchisor controls or supports through selling or management styles. For this, unfair trades the franchisor's over controlling and limiting the franchisee might occur and other side effects by the people who give the franchisee scam trades has negatively influenced on the development of franchise industry and national economy. So, the purpose of this study is preventing unfair trade for the franchisee from understanding the causes and problems of dispute between the franchisor and the franchisee focused on the dispute cases submitted the Korea Fair Trade Mediation Agency and seeking ways to secure the transparency of recruitment process and justice of franchise management process. The results of the case analysis are followed; first, affiliation contracts should run on the franchisor's exact public information statement and the surely understanding of the franchisee. Secondly, the franchisor needs to use their past experiences and investigated data for recruiting franchisees. Thirdly, in the case of making a contract with the franchisee, the franchisor has to make sure the business area by checking it with franchisee in person. Fourthly, the contracts are important in affiliation contracts, so enacting the possibility of disputes makes the disputes decreased. Fifthly, lots of investigation and interests are needed for protecting rights and interests between the franchisor and franchisee and preventing the disputes by catching the cause and more practical solutions of the disputes from the government.

• Journal of Intelligence and Information Systems
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• v.24 no.1
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• pp.227-252
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• 2018

The evolution of instant communication has mirrored the development of the Internet and messenger applications are among the most representative manifestations of instant communication technologies. In messenger applications, senders use emoticons to supplement the emotions conveyed in the text of their messages. The fact that communication via messenger applications is not face-to-face makes it difficult for senders to communicate their emotions to message recipients. Emoticons have long been used as symbols that indicate the moods of speakers. However, at present, emoticon-use is evolving into a means of conveying the psychological states of consumers who want to express individual characteristics and personality quirks while communicating their emotions to others. The fact that companies like KakaoTalk, Line, Apple, etc. have begun conducting emoticon business and sales of related content are expected to gradually increase testifies to the significance of this phenomenon. Nevertheless, despite the development of emoticons themselves and the growth of the emoticon market, no suitable emoticon recommendation system has yet been developed. Even KakaoTalk, a messenger application that commands more than 90% of domestic market share in South Korea, just grouped in to popularity, most recent, or brief category. This means consumers face the inconvenience of constantly scrolling around to locate the emoticons they want. The creation of an emoticon recommendation system would improve consumer convenience and satisfaction and increase the sales revenue of companies the sell emoticons. To recommend appropriate emoticons, it is necessary to quantify the emotions that the consumer sees and emotions. Such quantification will enable us to analyze the characteristics and emotions felt by consumers who used similar emoticons, which, in turn, will facilitate our emoticon recommendations for consumers. One way to quantify emoticons use is metadata-ization. Metadata-ization is a means of structuring or organizing unstructured and semi-structured data to extract meaning. By structuring unstructured emoticon data through metadata-ization, we can easily classify emoticons based on the emotions consumers want to express. To determine emoticons' precise emotions, we had to consider sub-detail expressions-not only the seven common emotional adjectives but also the metaphorical expressions that appear only in South Korean proved by previous studies related to emotion focusing on the emoticon's characteristics. We therefore collected the sub-detail expressions of emotion based on the "Shape", "Color" and "Adumbration". Moreover, to design a highly accurate recommendation system, we considered both emotion-technical indexes and emoticon-emotional indexes. We then identified 14 features of emoticon-technical indexes and selected 36 emotional adjectives. The 36 emotional adjectives consisted of contrasting adjectives, which we reduced to 18, and we measured the 18 emotional adjectives using 40 emoticon sets randomly selected from the top-ranked emoticons in the KakaoTalk shop. We surveyed 277 consumers in their mid-twenties who had experience purchasing emoticons; we recruited them online and asked them to evaluate five different emoticon sets. After data acquisition, we conducted a factor analysis of emoticon-emotional factors. We extracted four factors that we named "Comic", Softness", "Modernity" and "Transparency". We analyzed both the relationship between indexes and consumer attitude and the relationship between emoticon-technical indexes and emoticon-emotional factors. Through this process, we confirmed that the emoticon-technical indexes did not directly affect consumer attitudes but had a mediating effect on consumer attitudes through emoticon-emotional factors. The results of the analysis revealed the mechanism consumers use to evaluate emoticons; the results also showed that consumers' emoticon-technical indexes affected emoticon-emotional factors and that the emoticon-emotional factors affected consumer satisfaction. We therefore designed the emoticon recommendation system using only four emoticon-emotional factors; we created a recommendation method to calculate the Euclidean distance from each factors' emotion. In an attempt to increase the accuracy of the emoticon recommendation system, we compared the emotional patterns of selected emoticons with the recommended emoticons. The emotional patterns corresponded in principle. We verified the emoticon recommendation system by testing prediction accuracy; the predictions were 81.02% accurate in the first result, 76.64% accurate in the second, and 81.63% accurate in the third. This study developed a methodology that can be used in various fields academically and practically. We expect that the novel emoticon recommendation system we designed will increase emoticon sales for companies who conduct business in this domain and make consumer experiences more convenient. In addition, this study served as an important first step in the development of an intelligent emoticon recommendation system. The emotional factors proposed in this study could be collected in an emotional library that could serve as an emotion index for evaluation when new emoticons are released. Moreover, by combining the accumulated emotional library with company sales data, sales information, and consumer data, companies could develop hybrid recommendation systems that would bolster convenience for consumers and serve as intellectual assets that companies could strategically deploy.

• Journal of Intelligence and Information Systems
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• v.24 no.2
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• pp.85-109
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• 2018

Recommender system recommends the items expected to be purchased by a customer in the future according to his or her previous purchase behaviors. It has been served as a tool for realizing one-to-one personalization for an e-commerce service company. Traditional recommender systems, especially the recommender systems based on collaborative filtering (CF), which is the most popular recommendation algorithm in both academy and industry, are designed to generate the items list for recommendation by using 'overall rating' - a single criterion. However, it has critical limitations in understanding the customers' preferences in detail. Recently, to mitigate these limitations, some leading e-commerce companies have begun to get feedback from their customers in a form of 'multicritera ratings'. Multicriteria ratings enable the companies to understand their customers' preferences from the multidimensional viewpoints. Moreover, it is easy to handle and analyze the multidimensional ratings because they are quantitative. But, the recommendation using multicritera ratings also has limitation that it may omit detail information on a user's preference because it only considers three-to-five predetermined criteria in most cases. Under this background, this study proposes a novel hybrid recommendation system, which selectively uses the results from 'traditional CF' and 'CF using multicriteria ratings'. Our proposed system is based on the premise that some people have holistic preference scheme, whereas others have composite preference scheme. Thus, our system is designed to use traditional CF using overall rating for the users with holistic preference, and to use CF using multicriteria ratings for the users with composite preference. To validate the usefulness of the proposed system, we applied it to a real-world dataset regarding the recommendation for POI (point-of-interests). Providing personalized POI recommendation is getting more attentions as the popularity of the location-based services such as Yelp and Foursquare increases. The dataset was collected from university students via a Web-based online survey system. Using the survey system, we collected the overall ratings as well as the ratings for each criterion for 48 POIs that are located near K university in Seoul, South Korea. The criteria include 'food or taste', 'price' and 'service or mood'. As a result, we obtain 2,878 valid ratings from 112 users. Among 48 items, 38 items (80%) are used as training dataset, and the remaining 10 items (20%) are used as validation dataset. To examine the effectiveness of the proposed system (i.e. hybrid selective model), we compared its performance to the performances of two comparison models - the traditional CF and the CF with multicriteria ratings. The performances of recommender systems were evaluated by using two metrics - average MAE(mean absolute error) and precision-in-top-N. Precision-in-top-N represents the percentage of truly high overall ratings among those that the model predicted would be the N most relevant items for each user. The experimental system was developed using Microsoft Visual Basic for Applications (VBA). The experimental results showed that our proposed system (avg. MAE = 0.584) outperformed traditional CF (avg. MAE = 0.591) as well as multicriteria CF (avg. AVE = 0.608). We also found that multicriteria CF showed worse performance compared to traditional CF in our data set, which is contradictory to the results in the most previous studies. This result supports the premise of our study that people have two different types of preference schemes - holistic and composite. Besides MAE, the proposed system outperformed all the comparison models in precision-in-top-3, precision-in-top-5, and precision-in-top-7. The results from the paired samples t-test presented that our proposed system outperformed traditional CF with 10% statistical significance level, and multicriteria CF with 1% statistical significance level from the perspective of average MAE. The proposed system sheds light on how to understand and utilize user's preference schemes in recommender systems domain.

• Advances in pediatric surgery
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• v.5 no.1
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• pp.75-81
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• 1999

A survey on the intestinal atresias was made among 34 members of Korean Association of Pediatric Surgeons. The response rate was 82.4 %. Two hundred and fifteen patients from the January 1, 1994 to December 31, 1996 were analyzed. The lesions were 73 cases of duodenum(DA), 72 cases of jejunum(JA), 71 cases ileum(IA) and 2 cases cecum and sigmoid colon respectively. There were 2 cases of combined anomalies (DA + JA + IA and DA + JA). Male to female ratio was 1:1 in DA, and 1.8:1 in JA. Seventy four cases(34.3 %) were premature babies(DA 35.2 %, JA:48.6 %, IA:19.2 %), and 62 cases(28.7 %) had low birth weight (DA:39.4 %, JA 33.0 %, IA:13.7 %). Antenatal diagnosis was made in 92 cases(43.6 %). However 22 cases (23.9 %) of them were transferred to pediatric surgeon after delivery. Maternal polyhydramnios was observed in 63 cases(28.9 %). Seventy· five cases(34.4 %) were taken only simple abdominal film for diagnostic studies. The associated malformations were observed in 54 aresia and were observed more frequently in DA(35 cases, 47.9 %). Meconium peritonitis due to intrauterine bowel perforation was more frequently associated with IA compared to DA and JA. The overall mortality rate was 30 %. (Abbreuations: $P_{T}$;p-value in total, $P_{DJ,DI,JI}$;p value between two groups among duodenal, jejunal and ileal groups).

• Journal of Soil and Groundwater Environment
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• v.12 no.4
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• pp.25-31
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• 2007

Characterizing the risk posed by a mixture of chemicals is a challenging task due to the chemical interactions of individual components that may affect their physical behavior and hence alter their exposure to receptors. In this study, cell tests that represent subsurface environment were carried out using benz[a]anthracene (BaA) and p-xylene focusing on phasetransforming interaction to verify increased mobility and risk of highly sorbed pollutants in the presence of less sorbed, mobile liquid pollutants. A transport model was also developed to interpret results and to simulate the same process on a field scale. The experimental results showed that BaA had far greater mobility in the presence of p-xylene than in the absence of that. The main transport mechanisms in the vadose zone were by dissolution to p-xylene or water. The transport model utilizing Defined Time Steps (DTS) was developed and tested with the experimental results. The predicted and observed values showed similar tendency, but the more work is needed in the future study for more precise modeling. The field-scale simulation results showed that transport of BaA to groundwater table was significantly faster in the presence of NAPL, and the oral carcinogenic risk of BaA calculated with the concentration in groundwater was 15${\sim}$87 times larger when mixed with NAPL than when solely contaminated. Since transport rate of PAHs is very slow in the subsurface without NAPL and no degradation of PAHs was considered in this simulation during the transport, the increase of risk in the presence of NAPL is expected to be greater for the actual contaminated site.

• 한국산학경영학회:학술대회논문집
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• 2004.11a
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• pp.101-123
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• 2004

This study examines empirically the significant changes in tax payments when the consolidated tax return is introduced in the future. We estimate the consolidated tax payments under the eight cases which are classified as such : whether only 100% ownership subsidiaries should be included or 80% and over, whether all subsidiaries should be included or only subsidiaries with loss, and whether unrealized profits from intercompany transactions should be excluded or not. After estimating the consolidated tax payments, we test the difference between the consolidated tax payments and the sum of the individual tax payments of the subsidiaries. The results of the test show that the consolidated tax payments are significantly less than the sum of the individual tax payments of the subsidiaries. We interpret that the inclusion of the losses of the subsidiaries in the consolidated tax base makes the tax payment decrease. Based on our analysis about 3.8 billion Won per each parent company would decrease due to the introduction of the consolidated tax return. And we find that under the mandatory consolidated tax return system the significant difference between the consolidated and individual tax payment exists except that the only 100% ownership subsidiaries are included and unrealized profits from intercompany transactions are not excluded. However, when the parent companies have the discretion to select the consolidated subsidiaries, the consolidated tax payments are significantly less than the sum of the individual tax payments of the subsidiaries regardless of the ownership percentage, inclusion of the loss of the subsidiaries and exclusion of the unrealized profits.

• Journal of the Korean Institute of Landscape Architecture
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• v.46 no.1
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• pp.143-155
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• 2018

The Natural Landscape Rating System was introduced in the amendment of the NATURAL ENVIRONMENT CONSERVATION ACT in 2006. For landscape preservation, the system aims to consider the effects of development projects or plans implemented in a natural landscape on skylines, scenic resources, and view corridors. Currently, a lack of consistency in standards for determining Landscape Control Points (LCP) to assess landscape impact lowers the accuracy and reliability of the assessment results. As the perception of and the impact on a landscape varies, depending on the location of the LCP, it is necessary to establish a reasonable set of criteria to select viewpoints and avoid unreliability in the assessment due to unclear criteria. The intent of this study is to propose an objective and reasonable set of criteria for LCP selection to effectively measure the impact on the landscape from development projects that anticipate a change in the landscape and, ultimately, to suggest basic analysis methods to assess the landscape impact of development projects and to monitor the landscape in the future. Among the development projects affecting natural landscapes, as reported in the statement of the environmental impact assessment, cases of construction of a single building or other small-scale development projects were studied. Four spot development projects were analyzed in depth for their landscape impacts, in order to make recommendations for the LCP selection procedure, which aims to widen the scope of selection according to the direction of viewpoints from the target site. The existing results of analysis based on LCP have limitations because they failed to cover the viewshed of the target buildings when there are topographical changes in the surroundings. As a solution to this problem, a new viewshed analysis method has been proposed, with a focus on the development site and target buildings, rather than viewpoints, as used in past analysis.

• Journal of Animal Environmental Science
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• v.10 no.3
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• pp.141-154
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• 2004

The solar powered water pump is very ideal equipment because solar power is more intensive when the water is more needed in summer and it is very helpful in the rural area, in which the electrical power is not available. The average so]ar radiation energy is 3.488 kWh/($m^2{\cdot}day$) in Korea. In this study, the automatic control logic and system of the water pump driven by the radiation energy were studied, designed, assembled, tested and analyzed for realizing the solar powered water pump. The experimental system was operated automatically and the cycle was continued. The average quantity of the water pumped per cycle was about 5,320 cc. The cycle time was about 4.9 minutes. The thermal efficiency of the system was about $0.030\%$. The pressure level of the n-pentane vapour in flash tank was 150$\%$450 hPa(gauge) which was set by the computer program for the control of the vapour supply. The pressure in the condenser and air tank during cycles was maintained as about 600 hPa and 1,200 hPa respectively. The water could be pumped by the amount of 128kg/($m^2{\cdot}day$) with the efficiency of $0.1\%$ and the pumping head of 10 m for the average solar energy in Korea.

• Economic and Environmental Geology
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• v.38 no.6 s.175
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• pp.663-673
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• 2005

This study investigates the relationship between the geochemical maps and the gold-silver deposit locations. Geochemical maps of 21 elements, which are published by KIGAM, locations of gold-silver deposits, and 1:1,000,000 scale geological map of Korea are utilized far this investigation. Pixel size of the basic geochemical maps is 250m and these data are resampled in 1km spacing for the statistical analyses. Relationship between the mine location and the geochemical data are investigated using bayesian statistics and decision tree algorithms. For the bayesian statistics, each geochemical maps are reclassified by percentile divisions which divides the data by 5, 25, 50, 75, 95, and $100\%$ data groups. Number of mine locations in these divisions are counted and the probabilities are calculated. Posterior probabilities of each pixel are calculated using the probability of 21 geochemical maps and the geological map. A prediction map of the mining locations is made by plotting the posterior probability. The input parameters for the decision tree construction are 21 geochemical elements and lithology, and the output parameters are 5 types of mines (Ag/Au, Cu, Fe, Pb/Zn, W) and absence of the mine. The locations for the absence of the mine are selected by resampling the overall area by 1 km spacing and eliminating my resampled points, which is in 750m distance from mine locations. A prediction map of each mine area is produced by applying the decision tree to every pixels. The prediction by Bayesian method is slightly better than the decision tree. However both prediction maps show reasonable match with the input mine locations. We interpret that such match indicate the rules produced by both methods are reasonable and therefore the geochemical data has strong relations with the mine locations. This implies that the geochemical rules could be used as background values oi mine locations, therefore could be used for evaluation of mine contamination. Bayesian statistics indicated that the probability of Au/Ag deposit increases as CaO, Cu, MgO, MnO, Pb and Li increases, and Zr decreases.