• The Korean Journal of Air & Space Law and Policy
• /
• v.33 no.2
• /
• pp.3-34
• /
• 2018

Korea's air transport industry has a 70-year history since Korea National Airline was establishment in October 1948. Korea has 9 airlines which have international air transport business licenses, and as of 2017, air transport performance(Domestic & International) is ranked 8th in the world. Through analysis of Korea's air transport industry, this paper examines the essential problems of the domestic air transport industry and what policies and laws should be supplemented, and presents an "Policy Directions for the Air Transport Industry" that can continue to grow into a global aviation leading country in the future. Analysis of aviation statistics shows that the nation's air transport industry has a very high growth rate, and national airlines continue to invest in sustainable growth. Furthermore, new companies are also trying to enter the market. As of November 2018, four companies applied for licenses for international air transport business, one for international air transport business (cargo) license, and the Ministry of Land, Infrastructure and Transport is expected to decide whether to issue the license by first quarter of 2019. While some expect price reductions and consumer benefits through competition promotion, others worry about worsening airline financial structures and reducing safety investment due to competition. To sum up the problems of the nation's air transport industry, first, low-cost airlines focus only on attracting domestic demand, and thus have a weak foundation for continued growth. Second, the rapid growth in recent years has led to the lack of aviation professionals such as pilots and technicians and the saturation of slots at major airports. Third, since the financial soundness of airlines is not systematically managed, the financial situation of airlines can quickly deteriorate and the damage can be attributed to consumers. In order for the national airlines to continue to develop, the first is to focus on the endless demand of the global aviation market and to secure international competitiveness. Second, the government should support the airline infrastructure according to the size of the air transport industry, third, we will systematically nurture aviation experts who will lead the future of the nation's air transport industry, and finally, the government will have to continuously manage the financial status of airlines to prevent consumer damage in advance. Nowadays the air transport industry has become very competitive. Not only do airlines have to work hard for the sustainable development of national airlines, but all government agencies must support our airline companies in policy to win international competition.

• Archives of design research
• /
• v.19 no.1 s.63
• /
• pp.201-214
• /
• 2006

Modern society is an age of vagueness and confusion. In addition, vagueness, complexity and variety are seen throughout art including modern philosophy, literature, and environmental design. A phenomenon like this shows that modern society has integrated different components as an organic relationship frequently crossing the boundary of fields. This feature can be regarded as hybrid related with accepting contradictory components and binding them into one under relationship between part and whole. As new design concept, presented are attitude to accept the two instead of attitude to select one of the alternatives, abundance instead of dearness, and ambiguity instead of simplicity. This principle has a crucial influence on creative design providing opposing contradiction and several alternative plans as non-deterministic form not completed one and, above all, useful information in mutual dependence and mutual relationship. When it comes to hybrid, therefore, a strategy is needed to consider layer of several fields getting out of standardizing space into a single space. As an event of this situation and concept, space experience means behaving freely based on experience of users' body. It can be known that this experience brings about users' more dynamic experience in comparison with the experience of seeing environmental design from a viewpoint of visual ism on the existing simplicity. Such a practical experience is subjective, synesthetic, and non-observational one. Therefore, hybrid has brought active users to the stage, which is distinguished from synesthesia felt through body's experience, not through observational attitude and visual space which achieve former balance and harmony with non-determination. That's because hybrid creatures are turning to a product resulted from creative imagination instead of from reappearance which makes text visualized. Such experience performed by user's active participation collapses the boundary between special elite-centered art and daily life and it is the present progressive form showing creation process of future events and new esthetic experience.

• The Korean Journal of Air & Space Law and Policy
• /
• v.29 no.1
• /
• pp.3-32
• /
• 2014

Safety Management System is the aviation industry policy for while operating the aircraft, to ensure the safety crew, aircraft and passengers. For operating a safe aircraft, in order to establish the international technical standards, the International Civil Aviation Organization has established the Annex 19 of the Convention on International Civil Aviation. As a result, member country was supposed to be in accordance with the policy of the International Civil Aviation Organization, to accept the international standard of domestic air law. The South Korean government announced that it would promote active safety management strategy in primary aviation policy master plan of 2012. And, by integrating and state safety programmes(ssp) and safety management system(sms) for the safe management of Annex 19 is to enforce the policy on aviation safety standards. State safety programmes(ssp) is a system of activities for the aim of strengthening the safety and integrated management of the activities of government. State safety programmes(ssp) is important on the basis of the data of the risk information. Collecting aviation hazard information is necessary for efficient operation of the state safety programmes(ssp) Korean government must implement the strategy required to comply with aviation methods and standards of the International Civil Aviation Organization. Airlines, must strive to safety features for safety culture construction and improvement of safety management is realized. It is necessary to make regulations on the basis of the aviation practice, for aviation safety regulatory requirements, aviation safety should reflect the opinion of the aviation industry.

• Journal of Intelligence and Information Systems
• /
• v.16 no.2
• /
• pp.19-32
• /
• 2010

Volatility plays a central role in both academic and practical applications, especially in pricing financial derivative products and trading volatility strategies. This study presents a novel mechanism based on generalized autoregressive conditional heteroskedasticity (GARCH) models that is able to enhance the performance of intelligent volatility trading systems by predicting Korean stock market volatility more accurately. In particular, we embedded the concept of the volatility asymmetry documented widely in the literature into our model. The newly developed Korean stock market volatility index of KOSPI 200, VKOSPI, is used as a volatility proxy. It is the price of a linear portfolio of the KOSPI 200 index options and measures the effect of the expectations of dealers and option traders on stock market volatility for 30 calendar days. The KOSPI 200 index options market started in 1997 and has become the most actively traded market in the world. Its trading volume is more than 10 million contracts a day and records the highest of all the stock index option markets. Therefore, analyzing the VKOSPI has great importance in understanding volatility inherent in option prices and can afford some trading ideas for futures and option dealers. Use of the VKOSPI as volatility proxy avoids statistical estimation problems associated with other measures of volatility since the VKOSPI is model-free expected volatility of market participants calculated directly from the transacted option prices. This study estimates the symmetric and asymmetric GARCH models for the KOSPI 200 index from January 2003 to December 2006 by the maximum likelihood procedure. Asymmetric GARCH models include GJR-GARCH model of Glosten, Jagannathan and Runke, exponential GARCH model of Nelson and power autoregressive conditional heteroskedasticity (ARCH) of Ding, Granger and Engle. Symmetric GARCH model indicates basic GARCH (1, 1). Tomorrow's forecasted value and change direction of stock market volatility are obtained by recursive GARCH specifications from January 2007 to December 2009 and are compared with the VKOSPI. Empirical results indicate that negative unanticipated returns increase volatility more than positive return shocks of equal magnitude decrease volatility, indicating the existence of volatility asymmetry in the Korean stock market. The point value and change direction of tomorrow VKOSPI are estimated and forecasted by GARCH models. Volatility trading system is developed using the forecasted change direction of the VKOSPI, that is, if tomorrow VKOSPI is expected to rise, a long straddle or strangle position is established. A short straddle or strangle position is taken if VKOSPI is expected to fall tomorrow. Total profit is calculated as the cumulative sum of the VKOSPI percentage change. If forecasted direction is correct, the absolute value of the VKOSPI percentage changes is added to trading profit. It is subtracted from the trading profit if forecasted direction is not correct. For the in-sample period, the power ARCH model best fits in a statistical metric, Mean Squared Prediction Error (MSPE), and the exponential GARCH model shows the highest Mean Correct Prediction (MCP). The power ARCH model best fits also for the out-of-sample period and provides the highest probability for the VKOSPI change direction tomorrow. Generally, the power ARCH model shows the best fit for the VKOSPI. All the GARCH models provide trading profits for volatility trading system and the exponential GARCH model shows the best performance, annual profit of 197.56%, during the in-sample period. The GARCH models present trading profits during the out-of-sample period except for the exponential GARCH model. During the out-of-sample period, the power ARCH model shows the largest annual trading profit of 38%. The volatility clustering and asymmetry found in this research are the reflection of volatility non-linearity. This further suggests that combining the asymmetric GARCH models and artificial neural networks can significantly enhance the performance of the suggested volatility trading system, since artificial neural networks have been shown to effectively model nonlinear relationships.

• Journal of Intelligence and Information Systems
• /
• v.22 no.1
• /
• pp.187-204
• /
• 2016

Document classification based on emotional polarity has become a welcomed emerging task owing to the great explosion of data on the Web. In the big data age, there are too many information sources to refer to when making decisions. For example, when considering travel to a city, a person may search reviews from a search engine such as Google or social networking services (SNSs) such as blogs, Twitter, and Facebook. The emotional polarity of positive and negative reviews helps a user decide on whether or not to make a trip. Sentiment analysis of customer reviews has become an important research topic as datamining technology is widely accepted for text mining of the Web. Sentiment analysis has been used to classify documents through machine learning techniques, such as the decision tree, neural networks, and support vector machines (SVMs). is used to determine the attitude, position, and sensibility of people who write articles about various topics that are published on the Web. Regardless of the polarity of customer reviews, emotional reviews are very helpful materials for analyzing the opinions of customers through their reviews. Sentiment analysis helps with understanding what customers really want instantly through the help of automated text mining techniques. Sensitivity analysis utilizes text mining techniques on text on the Web to extract subjective information in the text for text analysis. Sensitivity analysis is utilized to determine the attitudes or positions of the person who wrote the article and presented their opinion about a particular topic. In this study, we developed a model that selects a hot topic from user posts at China's online stock forum by using the k-means algorithm and self-organizing map (SOM). In addition, we developed a detecting model to predict a hot topic by using machine learning techniques such as logit, the decision tree, and SVM. We employed sensitivity analysis to develop our model for the selection and detection of hot topics from China's online stock forum. The sensitivity analysis calculates a sentimental value from a document based on contrast and classification according to the polarity sentimental dictionary (positive or negative). The online stock forum was an attractive site because of its information about stock investment. Users post numerous texts about stock movement by analyzing the market according to government policy announcements, market reports, reports from research institutes on the economy, and even rumors. We divided the online forum's topics into 21 categories to utilize sentiment analysis. One hundred forty-four topics were selected among 21 categories at online forums about stock. The posts were crawled to build a positive and negative text database. We ultimately obtained 21,141 posts on 88 topics by preprocessing the text from March 2013 to February 2015. The interest index was defined to select the hot topics, and the k-means algorithm and SOM presented equivalent results with this data. We developed a decision tree model to detect hot topics with three algorithms: CHAID, CART, and C4.5. The results of CHAID were subpar compared to the others. We also employed SVM to detect the hot topics from negative data. The SVM models were trained with the radial basis function (RBF) kernel function by a grid search to detect the hot topics. The detection of hot topics by using sentiment analysis provides the latest trends and hot topics in the stock forum for investors so that they no longer need to search the vast amounts of information on the Web. Our proposed model is also helpful to rapidly determine customers' signals or attitudes towards government policy and firms' products and services.

• Journal of Distribution Science
• /
• v.7 no.4
• /
• pp.47-56
• /
• 2009

The purpose of this study is to present an alternative improving the efficient and reasonable of the physical distribution system management is influenced by many factors. Therefore, the study depends on the documentary method and survey method to achieve the purpose of this study. The major components of a physical distribution system are refers to as elements, include warehouse·storage system, transportation system, inventory system, physical distribution information system. The factors used in this study are ① factor of product(quality·A/S·added value of product·adaption of product·technical competitive power to other enterprises), ② factor of market(market channel·kinds of customer·physical distribution share), ③ factor of warehouse·storage(warehouse design·size·direction·storage ability·warehouse quality), ④ factor of transportation(promptness·reliability·responsibility·kinds of transportation·cooperation united transportation system·national transportation network), ⑤ factor of packaging (packaging design·material·educating program·pollution degree measure program), ⑥ factor of inventory(ordinary inventory criterion·consistence for inventories record), ⑦ factor of unloaded(unloaded machine·having machine ratio), ⑧ factor of information system (physical distribution quantity analysis·usable computer part), ⑨ factor of physical distribution cost(sales ratio to product) ⑩ factor of physical distribution system(physical distribution center etc). The implication of this study can be summarized as follows: ① In firms that have not adopted a systems integrative approach, physical distribution is a fragmented and often uncoordinated set of activities spread throughout various functions with function having its own set of priorities and measurements. ② The physical distribution is recognized as more an important strategic factor than a simple cost reduction factor, ③ It can be used a strategic competition tool to enterprise.

• Journal of Korean Society of Disaster and Security
• /
• v.12 no.1
• /
• pp.11-21
• /
• 2019

This study assessed the risk of disaster by using QRE(Quick Risk Estimation - UNISDR Roll Model City of Basic Evaluation Tool) tools for three natural disasters and sixteen social disasters managed by the Seoul Metropolitan Government. The criteria for selecting 19 disaster types in Seoul are limited to disasters that occur frequently in the past and cause a lot of damage to people and property if they occur. We also considered disasters that are likely to occur in the future. According to the results of the QRE tools for disaster type in Seoul, the most dangerous type of disaster among the Seoul city disasters was "suicide accident" and "deterioration of air quality". Suicide risk is high and it is not easy to take measures against the economic and psychological problems of suicide. This corresponds to the Risk ratings(Likelihood ranking score & Severity rating) "M6". In contrast, disaster types with low risk during the disaster managed by the city of Seoul were analyzed as flooding, water leakage, and water pollution accidents. In the case of floods, there is a high likelihood of disaster such as localized heavy rains and typhoons. However, the city of Seoul has established a comprehensive plan to reduce floods and water every five years. This aspect is considered to be appropriate for disaster prevention preparedness and relatively low disaster risk was analyzed. This corresponds to the disaster Risk ratings(Likelihood ranking score & Severity rating) "VL1". Finally, the QRE tool provides the city's leaders and disaster managers with a quick reference to the risk of a disaster so that decisions can be made faster. In addition, the risk assessment using the QRE tool has helped many aspects such as systematic evaluation of resilience against the city's safety risks, basic data on future investment plans, and disaster response.