• Journal of Intelligence and Information Systems
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• v.20 no.3
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• pp.45-58
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• 2014

The Korean Culture Contents spread out to Worldwide, because the Korean wave is sweeping in the world. The contents stand in the middle of the Korean wave that we are used it. Each country is ongoing to keep their Culture industry improve the national brand and High added value. Performing contents is important factor of arousal in the enterprise industry. To improve high arousal confidence of product and positive attitude by populace is one of important factor by advertiser. Culture contents is the same situation. If culture contents have trusted by everyone, they will give information their around to spread word-of-mouth. So, many researcher study to measure for person's arousal analysis by statistical survey, physiological response, body movement and facial expression. First, Statistical survey has a problem that it is not possible to measure each person's arousal real time and we cannot get good survey result after they watched contents. Second, physiological response should be checked with surround because experimenter sets sensors up their chair or space by each of them. Additionally it is difficult to handle provided amount of information with real time from their sensor. Third, body movement is easy to get their movement from camera but it difficult to set up experimental condition, to measure their body language and to get the meaning. Lastly, many researcher study facial expression. They measures facial expression, eye tracking and face posed. Most of previous studies about arousal and interest are mostly limited to reaction of just one person and they have problems with application multi audiences. They have a particular method, for example they need room light surround, but set limits only one person and special environment condition in the laboratory. Also, we need to measure arousal in the contents, but is difficult to define also it is not easy to collect reaction by audiences immediately. Many audience in the theater watch performance. We suggest the system to measure multi-audience's reaction with real-time during performance. We use difference image analysis method for multi-audience but it weaks a dark field. To overcome dark environment during recoding IR camera can get the photo from dark area. In addition we present Multi-Audience Engagement Index (MAEI) to calculate algorithm which sources from sound, audience' movement and eye tracking value. Algorithm calculates audience arousal from the mobile survey, sound value, audience' reaction and audience eye's tracking. It improves accuracy of Multi-Audience Engagement Index, we compare Multi-Audience Engagement Index with mobile survey. And then it send the result to reporting system and proposal an interested persons. Mobile surveys are easy, fast, and visitors' discomfort can be minimized. Also additional information can be provided mobile advantage. Mobile application to communicate with the database, real-time information on visitors' attitudes focused on the content stored. Database can provide different survey every time based on provided information. The example shown in the survey are as follows: Impressive scene, Satisfied, Touched, Interested, Didn't pay attention and so on. The suggested system is combine as 3 parts. The system consist of three parts, External Device, Server and Internal Device. External Device can record multi-Audience in the dark field with IR camera and sound signal. Also we use survey with mobile application and send the data to ERD Server DB. The Server part's contain contents' data, such as each scene's weights value, group audience weights index, camera control program, algorithm and calculate Multi-Audience Engagement Index. Internal Device presents Multi-Audience Engagement Index with Web UI, print and display field monitor. Our system is test-operated by the Mogencelab in the DMC display exhibition hall which is located in the Sangam Dong, Mapo Gu, Seoul. We have still gotten from visitor daily. If we find this system audience arousal factor with this will be very useful to create contents.

• Journal of Intelligence and Information Systems
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• v.17 no.4
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• pp.175-191
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• 2011

With the MICE(Meeting, Incentive travel, Convention, Exhibition) industry coming into the spotlight, there has been a growing interest in the domestic exhibition industry. Accordingly, in Korea, various studies of the industry are being conducted to enhance exhibition performance as in the United States or Europe. Some studies are focusing particularly on analyzing visiting patterns of exhibition visitors using intelligent information technology in consideration of the variations in effects of watching exhibitions according to the exhibitory environment or technique, thereby understanding visitors and, furthermore, drawing the correlations between exhibiting businesses and improving exhibition performance. However, previous studies related to booth recommendation systems only discussed the accuracy of recommendation in the aspect of a system rather than determining changes in visitors' behavior or perception by recommendation. A booth recommendation system enables visitors to visit unplanned exhibition booths by recommending visitors suitable ones based on information about visitors' visits. Meanwhile, some visitors may be satisfied with their unplanned visits, while others may consider the recommending process to be cumbersome or obstructive to their free observation. In the latter case, the exhibition is likely to produce worse results compared to when visitors are allowed to freely observe the exhibition. Thus, in order to apply a booth recommendation system to exhibition halls, the factors affecting the performance of the system should be generally examined, and the effects of the system on visitors' unplanned visiting behavior should be carefully studied. As such, this study aims to determine the factors that affect the performance of a booth recommendation system by reviewing theories and literature and to examine the effects of visitors' perceived performance of the system on their satisfaction of unplanned behavior and intention to reuse the system. Toward this end, the unplanned behavior theory was adopted as the theoretical framework. Unplanned behavior can be defined as "behavior that is done by consumers without any prearranged plan". Thus far, consumers' unplanned behavior has been studied in various fields. The field of marketing, in particular, has focused on unplanned purchasing among various types of unplanned behavior, which has been often confused with impulsive purchasing. Nevertheless, the two are different from each other; while impulsive purchasing means strong, continuous urges to purchase things, unplanned purchasing is behavior with purchasing decisions that are made inside a store, not before going into one. In other words, all impulsive purchases are unplanned, but not all unplanned purchases are impulsive. Then why do consumers engage in unplanned behavior? Regarding this question, many scholars have made many suggestions, but there has been a consensus that it is because consumers have enough flexibility to change their plans in the middle instead of developing plans thoroughly. In other words, if unplanned behavior costs much, it will be difficult for consumers to change their prearranged plans. In the case of the exhibition hall examined in this study, visitors learn the programs of the hall and plan which booth to visit in advance. This is because it is practically impossible for visitors to visit all of the various booths that an exhibition operates due to their limited time. Therefore, if the booth recommendation system proposed in this study recommends visitors booths that they may like, they can change their plans and visit the recommended booths. Such visiting behavior can be regarded similarly to consumers' visit to a store or tourists' unplanned behavior in a tourist spot and can be understand in the same context as the recent increase in tourism consumers' unplanned behavior influenced by information devices. Thus, the following research model was established. This research model uses visitors' perceived performance of a booth recommendation system as the parameter, and the factors affecting the performance include trust in the system, exhibition visitors' knowledge levels, expected personalization of the system, and the system's threat to freedom. In addition, the causal relation between visitors' satisfaction of their perceived performance of the system and unplanned behavior and their intention to reuse the system was determined. While doing so, trust in the booth recommendation system consisted of 2nd order factors such as competence, benevolence, and integrity, while the other factors consisted of 1st order factors. In order to verify this model, a booth recommendation system was developed to be tested in 2011 DMC Culture Open, and 101 visitors were empirically studied and analyzed. The results are as follows. First, visitors' trust was the most important factor in the booth recommendation system, and the visitors who used the system perceived its performance as a success based on their trust. Second, visitors' knowledge levels also had significant effects on the performance of the system, which indicates that the performance of a recommendation system requires an advance understanding. In other words, visitors with higher levels of understanding of the exhibition hall learned better the usefulness of the booth recommendation system. Third, expected personalization did not have significant effects, which is a different result from previous studies' results. This is presumably because the booth recommendation system used in this study did not provide enough personalized services. Fourth, the recommendation information provided by the booth recommendation system was not considered to threaten or restrict one's freedom, which means it is valuable in terms of usefulness. Lastly, high performance of the booth recommendation system led to visitors' high satisfaction levels of unplanned behavior and intention to reuse the system. To sum up, in order to analyze the effects of a booth recommendation system on visitors' unplanned visits to a booth, empirical data were examined based on the unplanned behavior theory and, accordingly, useful suggestions for the establishment and design of future booth recommendation systems were made. In the future, further examination should be conducted through elaborate survey questions and survey objects.

• Journal of Intelligence and Information Systems
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• v.23 no.1
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• pp.23-46
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• 2017

Although there have been cases of evaluating the value of specific companies or projects which have centralized on developed countries in North America and Europe from the early 2000s, the system and methodology for estimating the economic value of individual technologies or patents has been activated on and on. Of course, there exist several online systems that qualitatively evaluate the technology's grade or the patent rating of the technology to be evaluated, as in 'KTRS' of the KIBO and 'SMART 3.1' of the Korea Invention Promotion Association. However, a web-based technology valuation system, referred to as 'STAR-Value system' that calculates the quantitative values of the subject technology for various purposes such as business feasibility analysis, investment attraction, tax/litigation, etc., has been officially opened and recently spreading. In this study, we introduce the type of methodology and evaluation model, reference information supporting these theories, and how database associated are utilized, focusing various modules and frameworks embedded in STAR-Value system. In particular, there are six valuation methods, including the discounted cash flow method (DCF), which is a representative one based on the income approach that anticipates future economic income to be valued at present, and the relief-from-royalty method, which calculates the present value of royalties' where we consider the contribution of the subject technology towards the business value created as the royalty rate. We look at how models and related support information (technology life, corporate (business) financial information, discount rate, industrial technology factors, etc.) can be used and linked in a intelligent manner. Based on the classification of information such as International Patent Classification (IPC) or Korea Standard Industry Classification (KSIC) for technology to be evaluated, the STAR-Value system automatically returns meta data such as technology cycle time (TCT), sales growth rate and profitability data of similar company or industry sector, weighted average cost of capital (WACC), indices of industrial technology factors, etc., and apply adjustment factors to them, so that the result of technology value calculation has high reliability and objectivity. Furthermore, if the information on the potential market size of the target technology and the market share of the commercialization subject refers to data-driven information, or if the estimated value range of similar technologies by industry sector is provided from the evaluation cases which are already completed and accumulated in database, the STAR-Value is anticipated that it will enable to present highly accurate value range in real time by intelligently linking various support modules. Including the explanation of the various valuation models and relevant primary variables as presented in this paper, the STAR-Value system intends to utilize more systematically and in a data-driven way by supporting the optimal model selection guideline module, intelligent technology value range reasoning module, and similar company selection based market share prediction module, etc. In addition, the research on the development and intelligence of the web-based STAR-Value system is significant in that it widely spread the web-based system that can be used in the validation and application to practices of the theoretical feasibility of the technology valuation field, and it is expected that it could be utilized in various fields of technology commercialization.

• Reproductive and Developmental Biology
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• v.29 no.3
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• pp.163-168
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• 2005

The aim of this study was to investigate the changes in insulin-like growth factor-I (IGF-I) and growth hormone (GH) in serum, the quantitation of spermato-genesis and the comparable relationships among these measurements during pubertal period in New Zealand White male rabbits. To investigate the age-related testicular changes in DNA contents of spermatogenic cells, the fine-needle testicular biopsies from males aged 10 to 28 wks were evaluated by flow cytometry(FCM). Body weight increased significantly between the ages of 12 and 20 wks (P<0.05) and reached 3.4 kg at 28 wks of age. The highest serum IGF-I level (451.3ng/mL) was observed at 20wks of age (P<0.05) and thereafter remained stable at low levels. Serum GH level at 18 wks of age was 183.3 pg/mL which was significantly higher compared to the other ages (P<0.05), and the rising time in serum GH tend to be somewhat earlier than that of IGF-I. The relative percentage of It-cells in testicular cell compartments was $48.2\%$ at the age of 18 wks which significantly increased than those of 16-wk-old (P<0.05) and thereafter increased with the advance of age to $68\%$. The percentage of 2C-cells in testis was $26.8\%$ at 18 wks of age which was significantly lower than $54.3\%$ at 16 wks old (P<0.05). The percentage of 4C-cells was constantly maintained $2\~6\%$ except the $9.9\%$ at 18 wks of age. In conclusion, the results suggest that the puberty onset occurred at about the 18 wks of age and that the IGF-I and GH in serum during the pubertal period showed the age/growth-specific changes and these changes might be related to the spermatogenesis. The DNA FCM combined with fine-needle testicular biopsy could offer a very sensitive method to monitor the quantitative spermatogenic events related to the puberty onset.

• Asian Journal of Turfgrass Science
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• v.17 no.4
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• pp.129-146
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• 2003

Research was initiated to compare establishment vigor, uniformity, rooting potential and turf quality in sods of cool-season grasses (CSG). Several turfgrasses grown under pure sand soil were tested. Establishment vigor, uniformity, rooting potential and turf quality were evaluated in the study. Turfgrass entries were comprised of three blends from Kentucky bluegrass (KB, Poa pratensis L.), perennial ryegrass (PR, Lolium perenne L.), and tall fescue (TF, Festuca arundinacea Schreb.), respectively and three mixtures among them. Differences by treatments were significantly observed in establishment vigor, uniformity, rooting potential and turf quality. Early establishment vigor was mainly influenced by germination speed, being fastest with PR, intermediate with TF and slowest with KB. In a late stage of growth, however, it was affected more by growth habit, resulting in highest with KB and slowest with TF. There were considerable variations in sod uniformity among turfgrasses. Best uniformity among monostand sods was associated with KB, while poorest one with TF. PR sod produced intermediate uniformity between KB and TF. The uniformity of polystand sods of CSG mixtures was inferior to that of monostands of KB, PR and TF, due to characteristics of mixtures comprised of a variety of color, density, texture and growth habit. The greatest potential of sod rooting was found with PR and the poorest with KB. Intermediate potential between PR and KB was associated with TF. In CSG mixtures, it was variable, depending on turfgrass mixing rates. Generally, the higher the PR in mixtures, the greater the sod rooting potential. At the time of sod harvest, however, turfgrass quality of KB was superior to that of PR. because of its characteristics of uniform surface, high density and good mowing quality. These results suggest that a careful expertise based on turf quality as well as sod characteristics like establishment vigor, uniformity and rooting potential be strongly required for the success of golf course or athletic field in establishment.

• Journal of the Korean earth science society
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• v.23 no.6
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• pp.461-473
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• 2002

Concept mapping is a device for representing the conceptual structure of a subject discipline in a two dimensional form which is analogous to a road map. In the teaching and learning of earth science, each concept depends on its relationships to many others for meaning. Using concept mapping in teaching helps teachers and students to be more aware of the key concepts and relationships among them. The purpose of this study is to investigate the effect of the use of concept mapping on science achievement and the scientific attitude in ocean units of earth science. The results of this study are as follows; first, the science achievement of a group of concept mapping teaching is significantly higher than that of the group of traditional teaching. Also, when the achievement levels are compared among different cognitive ability groups, the effect is more significant in mid or lower level student groups than in high level groups. The use of concept mapping is more effective when the concepts have a distinct concept hierarchy. Second, the scores of the test of ‘attitude toward scientific inquiry’ and ‘application of scientific attitude’ of the group of concept mapping teaching are significantly higher than those of the group of traditional teaching, whereas the scores of the test of ‘interest in science learning’ of concept mapping teaching is not different from those of group of traditional teaching. Third, the survey on the use of concept mapping shows a positive response across the tested groups. The use of concept mapping is more beneficial in fostering the comprehension of the topic. A concept map of student's own construction facilitates the assessment of learning, thus promising the usefulness of concept mapping as a means of evaluation. In regard to retention aspect, concept mapping is considered to be more effective in confirming and remembering the topic, while less effective in the aspects of activity and interest. In conclusion, the use of concept maps makes learning an active meaningful process and improves student's academic achievement and scientific attitude. If the concept mapping is more effectively as an active teaching strategy, more meaningful learning will be attained.

• Journal of Nutrition and Health
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• v.47 no.6
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• pp.463-474
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• 2014

Purpose: The aim of this study was to assess the food environment, particularly focusing on restaurants in three areas (Suwon city, Hwaseong Byeongieom-dong, and Bibong-myun). Methods: A total of 662 persons were surveyed on customers' perceptions of the food environment in restaurants. A structured questionnaire composed of 30 questions on 7 factors, sanitation (4 items), displaying information (5), food quality (12), information on nutritional and healthy food choice (6), restaurant's accessibility (1), availability (1), and affordability (1) was used. In addition, an expert assessment of restaurant sanitation, and information on nutritional healthy food choice was conducted through visiting 126 restaurants. Results: Scores (range of score : 1~7) for each factors assessing the restaurant food environment were 5.06 for sanitation factors, 5.05 for displaying information factors, 5.13 for taste appearance factors, and 4.35 for healthy menu factors. Informations on nutritional healthy food choice showed a low rate: only 16.24% of the subjects answered that there is a message encouraging choice of healthy foods and 27.4% answered that menus contain nutritional information. Significant differences in food environment were observed by region (city, town, rural). The restaurants food environment in the rural area turned out to be poorer than that of the other two areas. In comparison of customer perception and expert assessment, significant differences were observed for 'Employee appearances and uniforms are clean and tidy' (p < .05), and 'There is a message encouraging the choice of healthy foods' (p < .05). Conclusion: This study provided evidence for differences of restaurant food environment by regions. In the rural area, there is a problem in restaurant's accessibility, availability, and affordability because of a lack of variety in menu items and restaurants. This results suggest that there is a need for more healthy food restaurants in the rural area.

• The Korean Society of Law and Medicine
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• v.17 no.1
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• pp.299-346
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• 2016

There were also various decisions made in medical area in 2015. In the case that an inmate in a sanatorium was injured due to the reason which can be attributable to the sanatorium and the social welfare foundation that operates the sanatorium request treatment of the patient, the court set the standard of fixation of a party in medical contract. In the case that the family of the patient who was declared brain dead required withdrawal of meaningless life sustaining treatment but the hospital rejected and continued the treatment, the court made a decision regarding chargeable fee for such treatment. When it comes to the eye brightening operation which received measure of suspension from the Ministry of Health and Welfare for the first time in February, 2011, because of uncertainty of its safety, the court did not accept the illegality of such operation itself, however, ordered compensation of the whole damage based on the violation of liability for explanation, which is the omission of explanation about the fact that the cost-effectiveness is not sure as it is still in clinical test stage. There were numerous cases that courts actively acknowledged malpractices; in the cases of paresis syndrome after back surgery, quite a few malpractices during the surgery were acknowledged by the court and in the case of nosocomial infection, hospital's negligence to cause such nosocomial infection was acknowledged by the court. There was a decision which acknowledged malpractice by distinguishing the duty of installation of emergency equipment according to the Emergency Medical Service Act and duty of emergency measure in emergency situations, and a decision which acknowledged negligence of a hospital if the hospital did not take appropriate measures, although it was a very rare disease. In connection with the scope of compensation for damage, there were decisions which comply with substantive truth such as; a court applied different labor ability loss rate as the labor ability loss rate decreased after result of reappraisal of physical ability in appeal compared to the one in the first trial, and a court acknowledged lower labor ability loss rate than the result of appraisal of physical ability considering the condition of a patient, etc. In the event of any damage caused by malpractice, in regard to whether there is a limitation on liability in fee charge after such medical malpractice, the court rejected the hospital's claim for setoff saying that if the hospital only continued treatments to cure the patient or prevent aggravation of disease, the hospital cannot charge Medical bills to the patient. In regard to the provision of the Medical Law that prohibit medical advertisement which was not reviewed preliminarily and punish the violation of such, a decision of unconstitutionality was made as it is a precensorship by an administrative agency as the deliberative bodies such as Korean Medical Association, etc. cannot be denied to be considered as administrative bodies. When it comes to the issue whether PRP treatment, which is commonly performed clinically, should be considered as legally determined uninsured treatment, the court made it clear that legally determined uninsured treatment should not be decided by theoretical possibility or actual implementation but should be acknowledged its medical safety and effectiveness and included in medical care or legally determined uninsured treatment. Moreover, court acknowledged the illegality of investigation method or process in the administrative litigation regarding evaluation of suitability of sanatorium, however, denied the compensation liability or restitution of unjust enrichment of the Health Insurance Review & Assessment Service and the National Health Insurance Corporation as the evaluation agents did not cause such violation intentionally or negligently. We hope there will be more decisions which are closer to substantive truth through clear legal principles in respect of variously arisen issues in the future.

• Sijohaknonchong
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• v.23
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• pp.161-188
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• 2005

The purpose of this study was to delve into the morphological types of Sijo in an effort to determine the morphological structure of Sasul-sijo, and it's also attempted to present standard about how to discriminate Pyong-si, Eos-sijo and Sasul-sijo from one another from a morphological standpoint. It's suggested that Si with tee Jangs, six verses and 12 stanzas or more, with three Jangs, seven verses and 14 stanzas or more, and with three Jangs, eight verses and 16 stanzas or more should respectively be called Pyong-sijo, Eos-sijo and Sasul-sijo. After what Sijo was and what's not were discussed, how to distinguish Eos-sijo from Sasul-sijo was described, and finally, the structure of Sasul-sijo was presented. As for Sijo and non-Sijo, the types of works that consisted of tee Jangs, like Sijo, yet didn't suit its framework and Yuljo and were written in Chinese characters were regarded as non-Sijo. Concerning discrimination between Eos-si and Sasul-sijo, the type of Sijo that included one more or higher number of verse(s) and two more or higher number of stanzas in one of three Jangs was defined as Eos-sijo, and the type of Sijo that involved two more or higher number of verses and four more or higher number of stanzas in one of three Jangs was called Sasul-sijo. In other words, Eos-sijo contained one more verse in one of tee Jangs, and Sasul-sijo included one more Jang in one tee Jangs. The sort of Sijo that contained one more Jang in one of three Jangs could be viewed as Sasul-sijo. Regarding the structure of Sasul-si, there should be three Jangs, eight verses and 16 stanzas in one piece of Sasul-sijo. Any type of Sijo that contained two more or higher number of verses and four more or higher number of stanzas could be called Sasul-sijo. Such an addition of verse and stanza could done in various ways. The examples were (1) adding stanzas the first Jang, 2) adding stanzas to the second Jang, (3) adding stanzas to the final Jang, (4) adding stanzas to both the first and Second Jangs, (5) adding stanzas to th the second and final Jangs, and (6) adding stanzas to all the first, second and third Jangs at the same time. Besides, there was an extremely broad gap between the numbers of verse and stanza in Sasul-sijo, which ranged from a low of eight stanzas to a high of 87 ones in one of three Jangs.

• KDI Journal of Economic Policy
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• v.14 no.2
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• pp.109-153
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• 1992

This paper estimates a translog cost function for the Korea's banking industry and derives various implications on the prospect for the Korean banking structure in the future based on the estimated efficiency indicators for the banking sector. The Korean banking industry is permitted to operate trust business to the full extent and the security business to a limited extent, while it is formally subjected to the strict, specialized banking system. Security underwriting and investment businesses are allowed in a very limited extent only for stocks and bonds of maturity longer than three year and only up to 100 percent of the bank paid-in capital. Until the end of 1991, the ceiling was only up to 25 percent of the total balance of the demand deposits. However, they are prohibited from the security brokerage business. While the in-house integration of security businesses with the traditional business of deposit and commercial lending is restrictively regulated as such, Korean banks can enter the security business by establishing subsidiaries in the industry. This paper, therefore, estimates the efficiency indicators as well as the cost functions, identifying the in-house integrated trust business and security investment business as important banking activities, for various cases where both the production and the intermediation function approaches in modelling the financial intermediaries are separately applied, and the banking businesses of deposit, lending and security investment as one group and the trust businesses as another group are separately and integrally analyzed. The estimation results of the efficiency indicators for various cases are summarized in Table 1 and Table 2. First, security businesses exhibit economies of scale but also economies of scope with traditional banking activities, which implies that in-house integration of the banking and security businesses may not be a nonoptimal banking structure. Therefore, this result further implies that the transformation of Korea's banking system from the current, specialized system to the universal banking system will not impede the improvement of the banking industry's efficiency. Second, the lending businesses turn out to be subjected to diseconomies of scale, while exhibiting unclear evidence for economies of scope. In sum, it implies potential efficiency gain of the continued in-house integration of the lending activity. Third, the continued integration of the trust businesses seems to contribute to improving the efficiency of the banking businesses, since the trust businesses exhibit economies of scope. Fourth, deposit services and fee-based activities, such as foreign exchange and credit card businesses, exhibit economies of scale but constant returns to scope, which implies, the possibility of separating those businesses from other banking and trust activities. The recent trend of the credit card business being operated separately from other banking activities by an independent identity in Korea as well as in the global banking market seems to be consistent with this finding. Then, how can the possibility of separating deposit services from the remaining activities be interpreted? If one insists a strict definition of commercial banking that is confined to deposit and commercial lending activities, separating the deposit service will suggest a resolution or a disappearance of banking, itself. Recently, however, there has been a suggestion that separating banks' deposit and lending activities by allowing a depository institution which specialize in deposit taking and investing deposit fund only in the safest securities such as government securities to administer the deposit activity will alleviate the risk of a bank run. This method, in turn, will help improve the safety of the payment system (Robert E. Litan, What should Banks Do? Washington, D.C., The Brookings Institution, 1987). In this context, the possibility of separating the deposit activity will imply that a new type of depository institution will arise naturally without contradicting the efficiency of the banking businesses, as the size of the banking market grows in the future. Moreover, it is also interesting to see additional evidences confirming this statement that deposit taking and security business are cost complementarity but deposit taking and lending businesses are cost substitute (see Table 2 for cost complementarity relationship in Korea's banking industry). Finally, it has been observed that the Korea's banking industry is lacking in the characteristics of natural monopoly. Therefore, it may not be optimal to encourage the merger and acquisition in the banking industry only for the purpose of improving the efficiency.