• Journal of the Korean Institute of Landscape Architecture
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• v.37 no.4
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• pp.72-85
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• 2009

This study attempts to examine the principles of landscape composition for a 'Suhwon(書院)' and the meaning and value of its traditional landscape architecture, in order to apply the results to the design of modern landscape architecture. A 'Suhwon' is a vital space containing the form and meaning of human activity. This study analyzes the characteristics of landscape composition in the construction of the Namgea Suhwon, located in Hamyang, by examining the form and meaning of its area and composition. The Namgea Suhwon was constructed with a suitable configuration and harmony in a good location, neither field nor mountain, and which encompasses transcendence and a return after passage through a period of birth and abundance. Its appearance means 'life existence and hidden death(生居死幽)'. Its spatial system is a reflection of the idea of Samshinoje(三神五帝: The three abilities of Providence and its five subjects) connected with Ilsangje -Samshin -Ohje. It was built based on the idea of Biryebudong(非禮不動) meaning that one should follow only good decorum and avoid discourtesy, complying with "the frame of decorum" developed by the family rites of Chu Hsi. The environmental design of the Namgea Suhwon was interrupted by the material confrontation between mountains and water and a binary code system, such as front to rear, length to breadth, and movement to stillness. The design did not adhere to stiff axes, but pursued the harmonic principles of asymmetric balance in the building and the yard, which are very naturalistic. The name 'Namgea Suhwon' is closely related with the view of placement(置) and harmony(和), which are unified with the function and meaning formed by connecting Sung Confucianism with the Pungsu-Sasinsa structure in the layout of the grounds. When examining the D/H ratio of the building and yard, it can be seen that the spaces of Ganghak, Yusang and Jehyang were built appropriately, according to the natural characteristics of each space, such as a sense of openness, enclosure, tension, relief, enhancement, and hierarchical order. The spaces also reflect human scale concepts that take advantage of auditory features. The transition process after the construction of 'Namgea Suhwon' reveals the intentions of the builder to create an ecological landscape composition based on Placement and Harmony. Placement embodies' a purposeful space in which nature and the building are connected naturally, 'incomplete open space pursuing completion', and 'potential beauty in which tension and relaxation are repeated'. Harmony embodies 'order and continuity having a sense of unity with the natural environment' and the 'sharing of daily life and memory'. 'Namgea Suhwon' contains many ideas for landscape planning, land use and the design of a campus environment.

• Management & Information Systems Review
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• v.34 no.3
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• pp.17-39
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• 2015

This study examined the structural changes and volatility in the global stock markets using a Markov Regime Switching ARCH model developed by the Hamilton and Susmel (1994). Firstly, the US, Italy and Ireland showed that variance in the high volatility regime was more than five times that in the low volatility, while Korea, Russia, India, and Greece exhibited that variance in the high volatility regime was increased more than eight times that in the low. On average, a jump from regime 1 to regime 2 implied roughly three times increased in risk, while the risk during regime 3 was up to almost thirteen times than during regime 1 over the study period. And Korea, the US, India, Italy showed ARCH(1) and ARCH(2) effects, leverage and asymmetric effects. Secondly, 278 days were estimated in the persistence of low volatility regime, indicating that the mean transition probability between volatilities exhibited the highest long-term persistence in Korea. Thirdly, the coefficients appeared to be unstable structural changes and volatility for the stock markets in Chow tests during the Asian, Global and European financial crisis. In addition, 1-Step prediction error tests showed that stock markets were unstable during the Asian crisis of 1997-1998 except for Russia, and the Global crisis of 2007-2008 except for Korea and the European crisis of 2010-2011 except for Korea, the US, Russia and India. N-Step tests exhibited that most of stock markets were unstable during the Asian and Global crisis. There was little change in the Asian crisis in CUSUM tests, while stock markets were stable until the late 2000s except for some countries. Also there were stable and unstable stock markets mixed across countries in CUSUMSQ test during the crises. Fourthly, I confirmed a close relevance of the volatility between Korea and other countries in the stock markets through the likelihood ratio tests. Accordingly, I have identified the episode or events that generated the high volatility in the stock markets for the financial crisis, and for all seven stock markets the significant switch between the volatility regimes implied a considerable change in the market risk. It appeared that the high stock market volatility was related with business recession at the beginning in 1990s. By closely examining the history of political and economical events in the global countries, I found that the results of Lamoureux and Lastrapes (1990) were consistent with those of this paper, indicating there were the structural changes and volatility during the crises and specificly every high volatility regime in SWARCH-L(3,2) student t-model was accompanied by some important policy changes or financial crises in countries or other critical events in the international economy. The sophisticated nonlinear models are needed to further analysis.