• The Korean Journal of Financial Studies
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• v.3 no.1
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• pp.163-177
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• 1996

제일경제연구소는 국내기업의 파생상품 이용현황, 파생상품의 유형과 거래목적 및 리스크 관리체제 등을 파악하기 위하여 KOSPI 200의 구성기업과 상장 금융기관을 대상으로 설문조사를 실시하였다. 국내기업의 해외파생상품의 거래는 최근 지속적으로 증가하고 있으며, 특히 금리관련 파생금융상품의 거래가 크게 증가하고 있다. 이는 국내기업이 환율 및 국제금리의 변동리스크를 헤지하거나, 자금조달 및 운용을 비롯한 종합적인 자산 부채의 관리를 위하여 파생금융상품을 적극적으로 이용하기 시작했음을 시사하고 있다. 국내기업의 파생상품 이용은 전반적으로 대기업 중심으로 이루어지고 있고, 금융기관들은 비금융기관들에 비해 거래소상장 파생상품의 이용률이 높은 것으로 나타났다. 그리고, 국내기업들은 투기적 목적보다는 환을, 금리, 상품가격변동의 리스크를 헤지할 목적으로 파생상품을 이용하는 것으로 나타났다. 특히, 환율 및 국제금리의 변동리스크를 관리하기 위하여 많은 기업들이 스왑을 이용하고 있다는 사실은 주목할만 하다. 많은 기업들이 정기적인 보고체제를 갖추고 있지 않은 것으로 파악되었는데, 국내기업의 장외파생상품에의 높은 의존도를 고려할 때 리스크 관리체제의 중요성을 다시 한번 인식할 필요가 있겠다.

• Annual Conference on Human and Language Technology
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• 1997.10a
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• pp.122-128
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• 1997

대부분의 한국어 형태소 분석기는 파생명사나 합성명사가 포함된 어절을 오분석 또는 과분석하는 경향이 있다. 이는 하나의 어절에서 오분석이나 과분석을 방지하기 위하여 획득할 수 있는 정보가 제한적이기 때문이다. 이에 본 논문은 파생명사나 합성명사 후보가 포함된 어절뿐만 아니라 주변 및 전문에서 분석에 필요한 정보를 수집하여 이용하는 방법을 제시한다. 제안한 방법은 오분석된 파생명사나 합성명사에만 나타나는 저빈도 단어를 제거하고, 파생명사나 합성명사 후보의 주변 어휘들을 실마리로 이용하며, 문서 전역에서 동일한 파생명사나 합성명사 후보가 포함된 둘 이상의 어절을 비교분석하여 파생명사 및 합성명사 후보가 포함된 어절을 처리한다. 실험 결과 제안한 방법은 99.8%의 정확도와 95.3%의 재현율로 파생명사나 합성명사 후보가 포함된 어절을 올바르게 분석할 수 있었다.

• The Korean Journal of Financial Management
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• v.15 no.2
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• pp.55-80
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• 1998

영국의 베어링사, 미국의 오렌지 카운티, 미국의 프록터앤 갬블사 등 최근의 유명한 대형금융사고에는 파생금융상품이 관련되어 있었다. 최근 국내에서도 파생금융상품과 관련된 대형금융사고가 발생하였다. SK증권은 $\ulcorner$다이아몬드 펀드$\lrcorner$라는 역외펀드를 설립한 후, JP Morgan과 파생금융상품을 거래하였는데 최근의 동남아 통화위기로 인하여 SK증권은 커다란 손실을 본 것이다. 본고에서는 거래된 파생금융상품에 대한 정밀한 분석을 통하여 SK증권과 JP Morgan은 서로 엔화 및 바트화에 대한 외환옵션을 거래한 것과 동일함을 보인다. 또한 본고에서는 거래된 파생금융상품에 대하여 계약체결시점의 적정가치를 계산한다. 이러한 분석은 파생상품의 위험관리를 위한 가장 중요한 첫 단계가 될 것이다. 분석결과를 요약하면 다음과 같다. SK증권은 JP Morgan으로부터 5,300만 달러를 차입하면서 약 5,800만 달러의 가치가 있는 상환액을 지급하기로 하였으며 또한 약 8,540만 달러의 가치가 있는 인도네시아 루피아화 연동채권을 8,700만 달러를 지급하고 매입하였다 따라서 파생금융상품계약에 따른 전체적인 손실은 약 660만 달러에 이르는 것으로 분석되었다.

• Proceedings of the Korean Information Science Society Conference
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• 2000.10a
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• pp.15-17
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• 2000

본 논몬은 원본 DTD에서 사용자 요구에 따르는 파생 DTD를 생성, 관리하는 시스템을 설계함으로써 사용자 요구에 적합한 유효한 XML 문서의 생성 및 검증을 효율적으로 처리하는 시스템을 개발하고자 한다. 본 시스템은 원본 DTD에서 파생 DTD를 생성하여 클라이언트에서 생성된 XML 문서에 대한 유효성을 검증하고, 사용자 질의의 결과로 생성된 서버측의 XML 문서에 대한 유효성을 효율적으로 검증하는 기능을 지원하고 있다. 여기서 사용되는 파생 DTD는 사용자 요구를 받아서 하나의 원본 DTD에서 파생 DTD 생성 알고리즘에 의해 생성된다. 이렇게 생성된 파생 DTD로 XML 문서를 DOMAPI의 에러 체크 메소드를 통해 XML 문서가 유효한고 정확한지 검증한다. 이러한 절차를 통해서 유효성을 검증받은 XML 문서를 유효한 데이터로서 관리한다. 이러한 절차를 통해 클라이언트와 서버 사이에서 전송하는 XML 문서의 유효성 및 정확성을 보장할 수 있을 뿐만 아니라, 클라이언트에서 만든 XML 문서를 파생 DTD를 이용해 유효성을 보장하여 다른 클라이언트에 보낼수 있다.

• Korean System Dynamics Review
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• v.15 no.4
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• pp.5-28
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• 2014

Derivatives can be easily bought by those companies that need to hedge foreign currency debt or foreign currency assets through the financial market, considering their exchange rate exposure from international trade. The derivatives market has been growing rapidly due to the needs for investment and hedging. To manage foreign exchange risk, companies hedge risks through financial derivatives. According to our study, hedging is an effective way to mitigate the impact of exposure to exchange risk, as long as companies are only hedging underlying assets. Yet, covetous attitude toward the profit from derivatives and unexpected changes in exchange rate can cause problems for companies. This study analyzed the structural risks of derivatives with analysis of system dynamics. In particular, many companies suffered substantial loss due to KIKO during the economic crisis. We explained the problem therein through dynamic analysis. In addition, we revealed the structural problem that could cause a sudden spike in losses through simulations.

• The Journal of the Korea Contents Association
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• v.12 no.3
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• pp.285-294
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• 2012

Under conditions of increasing environmental uncertainty, firms' risk management become important. This study examines the impact of foreign currency derivative usage on firm value using 3,004 Korean non-financial firms from 2002 to 2007. The results showed that there was no significant relationship between foreign currency derivative usage and firm value for the whole period and from 2002 to 2004 when exchange rate was relatively less volatile. But form 2005 to 2007 when exchange rate was volatile, foreign currency derivative usage gave significant negative impact on firm value, whereas when contract value was used, the relatinship was significantly positive. These results might be come from the characteristics of contract value and fair value of foreign currency derivatives. increased firm value when contract value was used as foreign currency derivative usage measure. But when fair value was used, there was no significance. For control variables, major shareholders ownership and foreign blockholders ownership was positively related with firm value.

• Korean Journal of Agricultural Science
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• v.2 no.2
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• pp.357-373
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• 1975

This study was conducted to evaluate the winter active polycross progenies of 10 genotypes selected at the hot and dry climate of the Southern Oregon in their performance in the progeny test comparing with a high yielding variety, 'Fawn', and a winter active variety, 'TFM', as the control varieties at Daejon, Korea. Various plant and leaf characteristics, especially which related to photosynthesis, and forage production during the first summer after their establishment, were examined. The important conclusions of this study are summarized as follows: 1. The winter active genotypes and variety had less leaf fresh weight and dry weight per leaf than variety 'Fawn'. Variations among polycross progenies of genotypes for these characteristics were great. 2. The winter active genotypes and variety had less leaf area per leaf than variety 'Fawn'. Leaf area among polycross progenies of genotypes deviated greatly and poly cross progenies of 'genotype-16' had the same average leaf area as 'Fawn'. 3. Differences of specific leaf weight (S. L. W.) in the winter active genotypes and variety were not significant. Probably the genetic diversity for S. L. W were not big and were narrowed down already in this genetic population. It was suggested that the photosynthate production within the population might not be different and there might be differences in the photosynthate production-translocation balance. Further study for the diurnal change in S. L. W. within the population might be useful. 4. The winter active variety and genotypes had less leaf width than 'Fawn' does. Leaf width among polycross progenies of genotypes deviated significantly. 5. Differences among controls and polycross progeny group in the initial plant height were significant and variety 'Fawn' was taller than the winter active genotypes and variety. But the differences were not significant in the regrowth of plant height after the first forage harvest. On the contrary. the differences among polycross progenies of genotypes were not significant in the initial plant but the differences in their polycross progeny performance became obvious and great in the regrowth ability which is an improtent agronomic characteristics for forage crops produced in the pasture and for hay and silage. 6. Plant width of the winter active genotypes and variety was lesser than 'Fawn' variety. 7. Differences of tiller number became evident and variety 'Fawn' had higher tiller number than the winter active genotypes and variety after the first forage cutting. There, deviations among polycross progenies of genotypes were great for this characteristic. It was obvious that the genetic differences became more evident in the second measurement after the first cutting of forage probably because this characteristic were stimulated by defoliation in the cartain genotypes and variety. 8. The winter active genotypes and variety on the initial growth. the regrowth ability andtotal yield had lesser forage yield than variety 'Fawn'. Deviation of forage yield among polycross progenies of genotypes were great and gave basis for selection according to their polycross progeny performance improving the forage yield of these winter active tall fescue population during summer. 9. It was concluded that the winter active variety and genotypes in this study was poorer than variety 'Fawn' for the most of leaf and plant characteristics including forage yield. For these measurements, the variations among polycross progenies of genotypes were great. and plant breeding might able to improve further this winter active tall fescue through the polycross progeny testing method for the higher forage production during summer in Korea. 10. The result of the associations among various characteristics under study were quite agreeable with the results of the analysis of variance and woul be useful in the selection of desirable genotypes for the development of a new variety.

• KIPS Transactions on Software and Data Engineering
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• v.1 no.1
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• pp.31-42
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• 2012

In order to process the suffix derived nouns of Korean, most of Korean processing systems have been registering the suffix derived nouns in dictionary. However, this approach is limited because the suffix is very high productive. Therefore, it is necessary to analyze semantically the unregistered suffix derived nouns. In this paper, we propose a method to disambiguate homograph suffixes using Korean lexical semantic network(U-WIN) for the purpose of semantic analysis of the suffix derived nouns. 33,104 suffix derived nouns including the homograph suffixes in the morphological and semantic tagged Sejong Corpus were used for experiments. For the experiments first of all we semantically tagged the homograph suffixes and extracted root of the suffix derived nouns and mapped the root to nodes in the U-WIN. And we assigned the distance weight to the nodes in U-WIN that could combine with each homograph suffix and we used the distance weight for disambiguating the homograph suffixes. The experiments for 35 homograph suffixes occurred in the Sejong corpus among 49 homograph suffixes in a Korean dictionary result in 91.01% accuracy.

• Korean Journal of Agricultural Science
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• v.2 no.2
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• pp.341-356
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• 1975

This study was carried out to evaluate three winter active synthetic varieties in a succeeding generations of improvement and polycross progenies of seven genotypes selected at the cool and wet climate of the Western Oregon, in their performance of the polycross progeny test comparing with a control variety, high yielding 'Fawn', at Daejon, Korea. Various plant and leaf characteristics, especially related to photosynthesis, and forage production during the first summer after the establishment were examined. The important conclusions of this study are summarized as follows: 1. The differences of leaf fresh weight among groups and control exhibit genetic differences. The a verage of leaf fresh weight of polycross progeny group was the heaviest and those of winter active synthetic varieties in the succeeding generations of improvement was heavier than variety 'fawn'. Within polycross progeny group the genotypes exhibit genetic differences for leaf dry weight. 2. The leaf area exhibited genetic differences among groups and control. The average of winter active synthetic varieties in a succeeding generation was larger than variety 'Fawn'. Those oi the polycross progeny group was the largest among groups and control. 3. Differences of specific leaf weight(S. L. W.) among and within varieties, genotypes and control were not significant. Further investigation in this respect is necessary through the study of the diurnal change in S. L. W. 4. Differences of leaf width among groups and control exhibited genetic differences. The average leaf width of winter active varieties was larger than those of 'Fawn' variety. And those of polycross progenies of genotypes was the largest. 5. Plant height of 'fawn' variety in the first measurement was higher than those of winter active tall fescue varieties and genotypes. The deviation in plant height among polyeross progenies of seven genotypes gave a great deviation. The regrowth ability of plant height was not different suggesting that this characteristics was about the same among and within groups and control. 6. Plant width, spreading ability, improved through the succeeding generations of the improvement of the winter active synthetic varieties for the first measurement. Differences of plant width at the second measurement among genotypes within polycross progeny group were big enough to show the genetic difference. 7. Tiller number of the winter active synthetic varieties and the average of genotypes in polycross progeny was more than those of the control 'Fawn' in the first measurement. On the second measurement, the differences of tiller number appeared among three synthetic varieties indicating improvement, and there were genetic differences among seven genotypes in polycross progeny test. 8. Forage yield on the first cutting showed a considerble improvement of forage yield in the more advanced generation of synthetic varieties and genetic differences among seven genotypes in the polycross progeny test. The average of polycross progeny group was higher than those of the control or three winter active varieties. It was suggested that we could make a further improvement for the forage yield. 9. The regrowth ability of these winter active varieties and genotypes was about the same capacity at least on the measurement of the regrowth in forage yield and plant height during summer. 10. On the whole, the averages of the polycross progeny group was in the highest value and those of synthetic varieties were higher than the control variety, 'Fawn', for the most characteristics except S. L. W. and the plant height on the first measurement even though the differences were not always significant. And there were genetic differences among seven gentypes in their performance of the polycross progeny. 11. Although it was not always sgnificant, the most advanced winter active variety, '1002', had in the highest value for all plant characteristics and forage yield measurements than the other two varieties, '1001'. 12. The results of the association study among various characteristics were quite agreeable and would be useful in the selection of desirable genotypes for the development of a better variety.

• Journal of Korea Port Economic Association
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• v.31 no.2
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• pp.103-114
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• 2015

The exchange rate volatility during the global financial crisis in 2007-2009 led Korean shipbuilding companies to face currency risk. The use of foreign currency derivatives to take a risk in financial exposure affects them significantly. This research analyzes how the use of foreign currency derivatives affects the Korean shipbuilding industry in relation to its foreign sales by company type and over time, especially before and after the crisis period. It is based on statistical data presented by KOSHIPA and KOSIC in 2001-2014. The results of the analysis show that there is a significant relationship between foreign currency derivatives and foreign currency exposure for all firm sizes and years, but no relationship between them overtime.