• Journal of Energy Engineering
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• v.28 no.3
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• pp.65-79
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• 2019

The study attempted to estimate the optimal facility capacity by combining renewable energy sources that can be connected with gas CHP in industrial complexes. In particular, we reviewed industrial complexes subject to energy use plan from 2013 to 2016. Although the regional designation was excluded, Sejong industrial complex, which has a fuel usage of 38 thousand TOE annually and a high heat density of $92.6Gcal/km^2{\cdot}h$, was selected for research. And we analyzed the optimal operation model of CHP Hybrid System linking fuel cell and photovoltaic power generation using HOMER Pro, a renewable energy hybrid system economic analysis program. In addition, in order to improve the reliability of the research by analyzing not only the heat demand but also the heat demand patterns for the dominant sectors in the thermal energy, the main supply energy source of CHP, the economic benefits were added to compare the relative benefits. As a result, the total indirect heat demand of Sejong industrial complex under construction was 378,282 Gcal per year, of which paper industry accounted for 77.7%, which is 293,754 Gcal per year. For the entire industrial complex indirect heat demand, a single CHP has an optimal capacity of 30,000 kW. In this case, CHP shares 275,707 Gcal and 72.8% of heat production, while peak load boiler PLB shares 103,240 Gcal and 27.2%. In the CHP, fuel cell, and photovoltaic combinations, the optimum capacity is 30,000 kW, 5,000 kW, and 1,980 kW, respectively. At this time, CHP shared 275,940 Gcal, 72.8%, fuel cell 12,390 Gcal, 3.3%, and PLB 90,620 Gcal, 23.9%. The CHP capacity was not reduced because an uneconomical alternative was found that required excessive operation of the PLB for insufficient heat production resulting from the CHP capacity reduction. On the other hand, in terms of indirect heat demand for the paper industry, which is the dominant industry, the optimal capacity of CHP, fuel cell, and photovoltaic combination is 25,000 kW, 5,000 kW, and 2,000 kW. The heat production was analyzed to be CHP 225,053 Gcal, 76.5%, fuel cell 11,215 Gcal, 3.8%, PLB 58,012 Gcal, 19.7%. However, the economic analysis results of the current electricity market and gas market confirm that the return on investment is impossible. However, we confirmed that the CHP Hybrid System, which combines CHP, fuel cell, and solar power, can improve management conditions of about KRW 9.3 billion annually for a single CHP system.

• Journal of the Korean Society of International Agriculture
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• v.30 no.4
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• pp.257-268
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• 2018

Recently, the international standardization of ISO in the field of Oriental Herbal Medicine has been progressing rapidly under the direction of China's promotion. China's intention to promote international standardization is to extend its influence to the world and beyond the domestic market. The Oriental medicine system in East Asia has similar roots in academic terms, but the medicines that can be supplied and received in each country are different and have developed independently. The international standardization of medicinal herbs is expected to function in a direction that weakens such differentiation and independence. From a commercial point of view, international standardization is no different from creating evaluation criteria for oriental medicinal products, and it is expected that its potential impact on domestic and overseas markets and producers will be large. In particular, the international standardization centered on China can lead to favorable evaluation criteria for China, which may further negatively affect the market competitiveness of domestic raw materials, which have been pushed back by Chinese manufacturers. If the domestic production base is weakened, not only will the farmers suffer but the supply and demand of raw materials will also be manipulated, safety management control will be reduced, and the development of oriental herbal products using domestic raw materials will be hurt. Therefore, in the promotion of international standardization, it is necessary not only to reflect the value of Korean herbal medicine but also to provide strategic responses to protect the domestic production base. However, in the case of recent initiatives, there is no precedent in analyzing influence on the production partners and the related industries. In addition, there are few related papers and reports on the subject, so the publicity process has not been done sufficiently. In response to this, this study will examine the countermeasures against the international standardization of herbal medicines through reviewing its present status and evaluating the agenda of the Korean initiative.

• Journal of Agricultural Extension & Community Development
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• v.21 no.2
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• pp.1-28
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• 2014

Private consulting firms that are currently participating in rural area development projects with a bottom-up approach are involved in nearly all areas of rural area development, and the policy environment that emphasizes the bottom-up approach will further expand their participation. Reviews of private consulting firms, which started out with high expectations in the beginning, are now becoming rather negative. Expertise is the key issue in the controversy over private consulting firms, and the analysis tends to limit the causes of the problems within firms. This study was conducted on the premise that the fixation on cause and structure results in policy issues in the promotion process. That is because the government authorities are responsible for managing and supervising the implementation of policies, not developing the policies. The current issues with consulting firms emerged because of the hasty implementation of private consulting through the government policy trend without sufficient consideration, as well as the policy environment that demanded short-term outcomes even though the purpose of bottom-up rural area development lies in the ideology of endogenous development focused on the changes in residents' perceptions. Research was conducted to determine how the problems of private consulting firms that emerged and were addressed in this context influenced the consulting market, using current data and based on the firms' business performance. In analyzing the types, firms were divided into three groups: top performers including market leaders (9), excellent performers (36), and average performers (34). An analysis of the correlation between the business performance of each type and managerial resources such as each firm's expertise revealed that there was only a correlation between human resources and regional development in excellent performers, and none was found with the other types. These results imply that external factors other than a firm's capabilities (e.g., expertise) play a significant role in the standards of selecting private consulting firms. Thus, government authorities must reflect on their error of hastily adopting private consulting firms without sufficient consideration and must urgently establish response measures.

• The Journal of Korean Academy of Prosthodontics
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• v.46 no.1
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• pp.65-82
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• 2008

Statement of problem : Today's market economy has been changed more and more to consumer concerned. It is owing to not only consumers ' rising standard of living and education, but also purchasers' easy accessibilities to products through various mass media. The consumer centered market system, where customer can choose items with diverse alternatives to satisfy their self esteem, is also applied to the field of medical business, and accelerated by an increasing income level of shoppers and introducing the whole nations' medical insurance system. Today, the medical industry has become competitive due to increasing number of medical institutions and medical personnel, and this offers wide choices to consumers in the medical market place. At this point of time, it is essential to survey on the primary factor of gratification for the patient in the Dental clinic, as well as on the problems and suggestions in medical service. Purpose : The analysis in this study shows essential factors and expected influential elements in satisfaction of the patient in the Dental Hopsital, and strategic suggestions for the provider of dental service, which can be of benefit to the prospective customer as well as can make improvement in the quality of dental treatment service. Material and method : This study had been researched by collecting and analyzing the organized questionnaires, which were filled in directly from 784 patients, who visit Dental Hospital, Yonsei University in Seoul, from January 23rd to April 15th. Result : It can be summarized like the followings. 1. The social and demographical peculiarities of respondents are as follows. Samples of gender and marital status are adequately extracted, but data on occupation and treatment are are under a bias toward students, undergraduates and graduate students, and orthodontics. 2. 74% of patients who answer the questionnaire were highly satisfied with the service of dental clinic in the section of overall satisfaction. 3. The survey result about specific service of dental treatment, within sections of independent variables, is like the followings; Patients are highly gratified with service system, kindness, explanation, explanation on expected waiting hours, reservation system, emergency measures, expert treatment, existence of knowledge of dentistry, size of hospital, disinfection, equipment and parking, but lowly satisfied with expense of treatment, preparatory hours for treatment, waiting hours, treatment hours and the period of subscription. 4. The correlation analysis showed that there is no significant linear relationship between the independent variables. 5. The probit regression analysis showed that 8 out of 34 independent variables explained the dependent variables at the level of 0.01. 6. It shows that 8 independent variables, which can affect customers 'satisfaction, are clearing up of inconvenience, service system, kindness, explanation, treatment hours per attendance, reservation system, existence of knowledge of dentistry, and contentment of equipment in the hospital. Conclusion : The consumer's satisfaction totally relies on subjective evaluations of customers. Providing appropriate service, which can meet the criteria for the customer who demands various wares, pursues luxury goods, and expects high quality of medical service, is essential to fulfill patients' satisfaction. Many medical institutions do their best to satisfy their customer, touch their consumer, and offer patience centered services, and it is also applied to the field of dentistry. Establishing brand new strategic managements and elevating the quality of dental service based on this survey are required to improve the satisfaction of patience in the Dental Hospital.

• Journal of Intelligence and Information Systems
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• v.20 no.2
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• pp.59-71
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• 2014

System trading is becoming more popular among Korean traders recently. System traders use automatic order systems based on the system generated buy and sell signals. These signals are generated from the predetermined entry and exit rules that were coded by system traders. Most researches on system trading have focused on designing profitable entry and exit rules using technical indicators. However, market conditions, strategy characteristics, and money management also have influences on the profitability of the system trading. Unexpected price deviations from the predetermined trading rules can incur large losses to system traders. Therefore, most professional traders use strategy portfolios rather than only one strategy. Building a good strategy portfolio is important because trading performance depends on strategy portfolios. Despite of the importance of designing strategy portfolio, rule of thumb methods have been used to select trading strategies. In this study, we propose a SVM-based strategy portfolio management system. SVM were introduced by Vapnik and is known to be effective for data mining area. It can build good portfolios within a very short period of time. Since SVM minimizes structural risks, it is best suitable for the futures trading market in which prices do not move exactly the same as the past. Our system trading strategies include moving-average cross system, MACD cross system, trend-following system, buy dips and sell rallies system, DMI system, Keltner channel system, Bollinger Bands system, and Fibonacci system. These strategies are well known and frequently being used by many professional traders. We program these strategies for generating automated system signals for entry and exit. We propose SVM-based strategies selection system and portfolio construction and order routing system. Strategies selection system is a portfolio training system. It generates training data and makes SVM model using optimal portfolio. We make $m{\times}n$ data matrix by dividing KOSPI 200 index futures data with a same period. Optimal strategy portfolio is derived from analyzing each strategy performance. SVM model is generated based on this data and optimal strategy portfolio. We use 80% of the data for training and the remaining 20% is used for testing the strategy. For training, we select two strategies which show the highest profit in the next day. Selection method 1 selects two strategies and method 2 selects maximum two strategies which show profit more than 0.1 point. We use one-against-all method which has fast processing time. We analyse the daily data of KOSPI 200 index futures contracts from January 1990 to November 2011. Price change rates for 50 days are used as SVM input data. The training period is from January 1990 to March 2007 and the test period is from March 2007 to November 2011. We suggest three benchmark strategies portfolio. BM1 holds two contracts of KOSPI 200 index futures for testing period. BM2 is constructed as two strategies which show the largest cumulative profit during 30 days before testing starts. BM3 has two strategies which show best profits during testing period. Trading cost include brokerage commission cost and slippage cost. The proposed strategy portfolio management system shows profit more than double of the benchmark portfolios. BM1 shows 103.44 point profit, BM2 shows 488.61 point profit, and BM3 shows 502.41 point profit after deducting trading cost. The best benchmark is the portfolio of the two best profit strategies during the test period. The proposed system 1 shows 706.22 point profit and proposed system 2 shows 768.95 point profit after deducting trading cost. The equity curves for the entire period show stable pattern. With higher profit, this suggests a good trading direction for system traders. We can make more stable and more profitable portfolios if we add money management module to the system.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.6
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• pp.13-24
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• 2022

The purpose of this study is to examine whether the existence of related personnel in KOSDAQ technology special listed firms has a signal effect on the market and affects performance when listed. The KOSDAQ technology special listing system is a system introduced to enable future growth by securing financing through corporate public offering based on the technology and marketability of technology-based startups and venture companies. As a result of analyzing 135 special technology companies listed from 2005 to 21 (excluding SPAC mergers and foreign companies) whether or not related personnel affect corporate value and listing period when they are listed, it was analyzed that the presence of related personnel did not significantly affect corporate value or listing period. The same was found in the results of the verification by reducing the scope to related personnel such as public officials and related agencies. However, under certain conditions, significant results were derived from the presence of related personnel on the listing of companies listed in special technology cases. It was found that the presence of related personnel and VC investment had a significant effect on corporate value, and in the case of bio-industry, there was a slight significant effect on the duration of listing. This study is significant in that it systematically analyzed the signal effect of the existence of related personnel for the first time for all 135 companies. In addition, as a result of the analysis, the results suggest that internalized efforts to secure technology and marketability are more important, such as parallel to VC investment, rather than simply recruiting related personnel.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.26 no.2
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• pp.463-474
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• 2016

As IT environment has changed, paths of information security in financial environment which is based on IT have become more diverse and damage caused by information leakage has been more serious. Among security incidents, personal information leakage incident is liable to give the greatest damage. Personal information leakage incident is more serious than any other types of information leakage incidents in that it may lead to secondary damage. The purpose of this study is to find how much personal information leakage incident influences corporate value by analyzing 21 cases of personal information leakage incident for the last 15 years 1,899 listing firm through case research method and inferring investors' response of to personal information leakage incident surveying a change in transaction before and after personal information leakage incident. This study made a quantitative analysis of what influence personal information leakage incident has on outcome of investment by types of investors by classifying types of investors into foreign investors, private investors and institutional investors. This study is significant in that it helps improve awareness of importance of personal information security by providing data that personal information leakage incident can have a significant influence on outcome of investment as well as corporate value in Korea stock market.

• Korean Journal of Construction Engineering and Management
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• v.21 no.4
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• pp.72-81
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• 2020

Sustainable development goals (SDGs) are designed to promote human and social development and address challenges related to sustainable economic development, in addition to creating quality employment. SDGs create new market and business opportunities that enable companies to effect business changes through innovative solutions. To tackle structural problems and create infrastructure for future societies, a national-level digital transformation strategy is being developed in Korea. The Korean government announced an investment plan for living social overhead capital (SOC) to address various social and structural problems caused by low economic growth. This study emphasizes the importance of building SOCs in accordance with the requirements of future societies. This study primarily aims to suggest business opportunities created by achieving SDGs, by analyzing business cases involving 3D printing-based construction. Implementing living SOCs through ingenious thinking will not only create new businesses and jobs through digital transformation, but also improve the economic and social value by encouraging community members to be proud of their future society.

• Journal of Venture Innovation
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• v.2 no.2
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• pp.95-115
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• 2019

In the context of today's business environment, not only is the nation or company's credit rating considered very important in our recent society, but it is also becoming important in international transactions. Likewise, at this point of time when the importance and reliability of credit evaluation are becoming important at home and abroad, this study analyzes financial ratios related to corporate profitability, safety, activity, financial growth, and profit growth to study the impact of financial indicators on enterprise value and corporate taxes on credit evaluation. To proceed with this, the financial ratio of 465 companies of KOSPI securities listed in 2017 was calculated and the impact of enterprise value and corporate taxes on credit evaluation was analyzed. Especially, this further study tried to derive a reliable and consistent conclusion by analyzing the financial data of KOSPI securities listed companies for eight years from 2011, which is the first year of K-IFRS introduction, to 2018. Research has shown that the significance levels among variables that show the profitability, safety, activity, financial growth, and profit growth of each financial ratio were significant at the 99% level, except for the profit growth. Validation of the research hypothesis found that while the profitability of KOSPI-listed companies significantly affects corporate value and income tax, indicators such as safety ratio and growth ratio do not significantly affect corporate value and income tax. Activity ratio resulted in significant effects on the value of enterprise value but not significant impacts on income taxes. In addition, it was found that the enterprise value has a significant effect on the company's credit and corporate income taxes, and that corporate income taxes also have a significant effect on the corporate credit evaluation, and this also shows that there is a mediating function of corporate tax. And as a result of further study, when looking at the financial ratio for eight years from 2011 to 2018, it was found that two variables, KARA and LTAX, are significant at a 1% significant level to KISC, whereas LEVE variables is not significant to KISC. The limitation of this study is that credit rating score and financial score cannot be said to be reliable indicators that investors in the capital market can normally obtain, compared to ranking criteria for corporate bonds or corporate bills directly related to capital procurement costs of enterprise. Above all, it is necessary to develop credit rating score and financial score reflecting financial indicators such as business cash flow or net assets market value and non-financial indicators such as industry growth potential or production efficiency.

• Journal of Korea Port Economic Association
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• v.36 no.4
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• pp.17-30
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• 2020

In the shipping industry, it is essential to engage in the preemptive prediction of freight rate volatility through market monitoring. Considering that freight rates have already started to fall, the loss of shipping companies will soon be uncontrollable. Therefore, in this study, factors affecting the freight rates of bulk carriers, which have relatively large freight rate volatility as compared to container freight rates, were quantified and analyzed. In doing so, we intended to contribute to future shipping market monitoring. We performed an analysis using a vector error correction model and estimated the influence of six independent variables on the charter rates of bulk carriers by Handy Size, Supramax, Panamax, and Cape Size. The six independent variables included the bulk carrier fleet volume, iron ore traffic volume, ribo interest rate, bunker oil price, and Euro-Dollar exchange rate. The dependent variables were handy size (32,000 DWT) spot charter rates, Supramax 6 T/C average charter rates, Pana Max (75,000 DWT) spot charter, and Cape Size (170,000 DWT) spot charter. The study examined charter rates by size of bulk carriers, which was different from studies on existing specific types of ships or fares in oil tankers and chemical carriers other than bulk carriers. Findings revealed that influencing factors differed for each ship size. The Libo interest rate had a significant effect on all four ship types, and the iron ore traffic volume had a significant effect on three ship types. The Ribo rate showed a negative (-) relationship with Handy Size, Supramax, Panamax, and Cape Size. Iron ore traffic influenced three types of linearity, except for Panamax. The size of shipping companies differed depending on their characteristics. These findings are expected to contribute to the establishment of a management strategy for shipping companies by analyzing the factors influencing changes in the freight rates of charterers, which have a profound effect on the management performance of shipping companies.