• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.38 no.3
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• pp.25-34
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• 2020

This study examined the definition and major values, the designated procedures and types, and the designation trend in Korean scenic sites and national parks in the United States. Based on this, the analysis of the characteristics of the designation of the two natural heritages. The results are as follows; First, Scenic Sites has characteristics of complex heritage that includes academic, historical, and humanities values on the basis of landscape. As a natural heritage based on public nature, the U.S. National Park aims to contribute to the people's natural heritage and satisfy both ecological and historical values through the protection of the landscape. Second, the designation of a scenic sites are decided through deliberation by the Cultural Heritage Committee after the request of the owner, manager, or local government or by the authority of the head of the Cultural Heritage Administration. The designated survey is divided into basic resource surveys and resource surveys by type. Since the initial designation of the Sogeumgang Mountain in Cheonghakdong, Myeongju in 1970, the number of designated scenic sites was low until the 2000s, but the number of designated scenic sites has increased rapidly since 2006 due to the policy to promote the scenic site, and the proportion of natural and historical and cultural scenic sites has been balanced. The designation of the U.S. national park is decided by the Congress or the president, and the National Park Service makes a series of decisions on whether to conduct a special resource study of provisional resources through a preliminary inspection survey, whether to satisfy the criteria for designation of national parks based on the results of special resource research, and to prioritize them. The U.S. National Parks have been expanded not only by Congress but also by the president's empowerment to designate them as national monuments. With the integrated operation of the National Park Service, the number of designated cases increased as the national park included the heritage sites under the control of various ministries. In addition, a number of historical areas were designated by the enactment of the Historical Site Act, and recreational areas were designated to provide leisure space and classified and managed in a total of 18 units. Third, the comparison of the designation characteristics of the two heritage properties confirmed that the designation of natural heritage with complex value, the classification of types according to complementary designation system and resource characteristics, the establishment of the competent ministry and the balancing of the heritage according to the designation policy. The two heritages had the characteristics of complex natural heritages that met ecological, historical and academic values at the same time based on landscape and public nature. In addition, both countries have identified a system for deliberating the designation of heritage through a basic resource survey and an in-depth designation survey, and classified each type according to the characteristics of the resource. In addition, the policies for promoting scenic sites in Korea and the integrated operation of the National Park Service in the U.S. influenced the designated aspects of the two heritage sites, balancing natural heritage with historical and cultural heritage. Fourth, the resource types and conservation management methods of Scenic site and National Park were largely related. The natural areas of the U.S. National Park include types of natural monuments in Korea as major resources, and have characteristics similar to natural scenic sites. In addition, historical resources were similar to the criteria for designation of historical and cultural scenic sites in terms of landscape, and the aspects of war and celebrity-related relics were related to the types of historic sites. In terms of conservation management, the natural area of the U.S. national park has a way of keeping the original ecosystem intact, but the Korean natural heritage protection system is likely to be useful for focusing on the resource of viscosity. Meanwhile, historical resources include historical sites and historical and cultural scenic sites in the traditional era, but historical relics in the U.S. National Parks have set a time limit to modern times for war history and celebrity-related relics, and the active provision of entertainment programs based on existing resources was derived as a difference.

• Journal of Korean Society of Forest Science
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• v.12 no.1
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• pp.31-43
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• 1971

In order to examine the taxonomic difference between the type of Pinus parviflora S. et Z. native to the Dagelet Island and the type of the species introduced to a number of places of the inland of South Korea, investigations on principal characters of needle, cone and seed were made with a hope to obtain informations on the evaluation of the species for possible use in the reforestation program in Korea in the future. Pinus parviflora is belonged to the Sub-genus Haploxylon of Genus Pinus and it has been speculated among dendrologists that this speoies is not monotypic. 308 rendomly selected trees from 8 different elevations of a natural stand of P. parviflora in the Dagelet Island, and 168 trees of P. parviflora growing at 15 different locations of the inland of South Korea were employed as samples along with 300 trees of P. koraiensis as control. The results obtained are summarized as follows: 1. The needle length of the Pinus parviflora of the Dagelet Island is longer than that of the species growing in the inland by 21-35 percent with statistical significancy. (Table 2) 2. In the cross section of needle, no resin canal was observed in about 50-70 percent of the sample trees of the Dagelet Island, whereas the resin canals appearing at external in most cases were observed in all sample trees from the inland. Consequently, the number of resin canals per needle was 0.4-0.9 with the Dagelet Island type and 2.0-2.7 with the inland type and these differences were statistically significant. (Table 3, Fig.2) 3. The Pinus parvviflora type of the Dagelet Island bas yellowish brown cones, and the Pinus parviflora type of Suwon and Kwangyang has redish brown cones. In both the length of cone and the number of cone scale, the difference between the type of the Dagelet Island and the type of the inland was also statistically significant. The cone scales of the Dagelet Island type are slightly opened, whereas the cone scales are widely opened with both of Suwon and Kwangyang type. (Table 4, Fig. 3) 4. the seed color, of the Dagelet Island type is yellowish brown, while it is greyish brown with Kwangyang and Suwon type. In the length and width of seed, the Dagelet Island type showed significantly larger values than that of the inland type. The length of seed was longest with the Kwangyang type being followed by Suwon and the Dagelet Island type in ordar. The seed wing of the Kwangyang type are longer than the seed, while that of the Dagelet Island type is degenerated to be shorter than the seed. (Table 5, Fig. 4) 5. The Pinus parviflora type of the Dagelat Island is similar in many respects to the southern type of Pinus parviflora of Japan except that many has no resin canals in the needle. 6. On the basis of the results obtained in this study, it may be concluded that the type of Pinus parviflora of the Dagelet Island is significantly different from the type of the species introduced to the inland and that there is no recognizable variation between the population of the different altitude of the Dagelet Island and the individual variation within population is also negligible. In the light of the high value of the tree not only as an ornamental tree but as an economical tree, The type of Pinus parviflora of the Dagelet Island is considered to be recommendable to be used for the future reforestation program of Korea.

• Journal of the Korean Society of School Health
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• v.5 no.2
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• pp.74-90
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• 1992

The purpose of this study is to know the effects on school lunch service programme of elementary school in rural area, by using the group consisting of the sixth year students in the schools that have provided them with the lunch for six years or longer(male student:312, & female student:324), while using the comparing group consisting of the sixth year students in the schools that have not provided them with the school lunch under their similar living condition(male student: 306 & female student:322). In addition, this study was carried out by examining all continued information about their height and weight shown in the developmetal record for six years from the 1st to 6th year, and by checking their eating habits on the basis of questionnaires. The result of this study is summarized as follows. As the result of comparing the values of their height and weight grown for 6 years, it was shown that the height of the male group provided with school lunch is 27.8 cm while the male group without lunch is 27.1 cm. And the female group provided with school lunch indicated the growing value of 29.9 cm while the group without lunch did 28.4 cm. Then, it appeared that both male and female groups provided with school lunch show higher growing values of 0.7 cm, respectively, and 1.5 cm than these groups without lunch. Also, the weight of the group without lunch was 14.8 kg. Moreover, the weight of the female group provided with school lunch was 16.9 kg while the group without lunch was 17.2 kg. Then, it was shown that the male group provided with school lunch indicates heavier growing value of 0.9 kg than the group without lunch while the female group without lunch does heavier value of 0.3 kg than the group provided with school lunch. It's figure showed that although this distribution according to percentile in the 1st year is similar to the standard regular curve it is positioned in the upper group(more thatn 70%) divided centering around 50% in the 6th year, of which distribution of children provided with school lunch was higher. When comparing the values of physical status in the 6th year, it was also shown that male children with school lunch are better than these children without lunch in jumping, throwing, chinning and lifting while female children are better than these children without lunch only in jumping, which were a significant difference. In addition, the group provided with lunch showed distribution of the higher physical grade. The result of analysis on their breakfast indicated that the children with every morning breakfast account for 67.6% of the group provided with school lunch while the group without lunch for 57.8%. Regarding the reason that they do not have the breakfast, the group with school lunch answered "Because of habits"(50.7%) while the group without lunch did "Because they have no appetite"(58.9%). When comparing the degree of preference for hot or salty food, it was apparent that these children with school lunch generally tend to prefer less hot or sailty food. With respect to the frequency and place of their eating between meals, it was shown that about 70.0% of both groups has the eating between meals, more than one time a day. Then, the group with school lunch had the eating between meals at home(45.2%) while the group without lunch did it in the process of returning to home(48.4%). Regarding the degree of their preference for a certain food, it was shown that more children of the group with school lunch do not prefer a food to others. Also, their eating attitude indicated that such children as eating the food with chat after completely swallowing food and with T.V watching are larger and lower among the group with school lunch, which showed a remarkable defference from the group without lunch. With respect to their sanitary habits such as hand washing and toothing, these children who always wash their hand before eating, accounted for 84.4 % of the group provided with school lunch while the group without lunch did for 63.6%, of which the female group with school lunch indicated a remarkable difference. The actual condition of their nutrition education showed that these children who answered "Received this education" accounted for 78.0% of the group with school lunch while the group without lunch accounted for 57.5%.

• Journal of the Korean Society of School Health
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• v.9 no.1
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• pp.77-98
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• 1996

This studies designed to work out a theoretical framework on the experience of sexual abuse from the perspective of grounded theory in an effort to provide more practical and efficient nursing intervention for female victims. The subcategories identified were "sexual abuse", "threatening", "absent mindness", "embarrassment", "horripilation", "dizziness", "wondrousness", "filthiness", "sexual curiosity", "violence level", "victim's age", "neighbors response", "victims personality", "common experience", "sexual abuse information", "family relations", "level of familiarity", "hiding", "suppression", "self-torture", "self-protection", "avoidance", "asking aid", "withdrawal", "hatred", "confusion", "dodging, "remmant", and "pursuing". The 29 subcategories given above were further integrated into 16 categories such as "victimizedness", "being astounded", "filthiness", "degree", "developmental stage", "response pattern", "personality", "rarity", "information availability", "family support", "cover-up", "escaping", "informing", "negative internalization", and "positive pursuit of change". The core categories linked to all the other categories turned out to be "being taken aback" and "filthiness" incorporating the relevant subcategories. A total of 23 theoretical hypothesis emerged in the process of analyzing data. 1. the grater sexual curiosity, the weaker the senses of being taken aback and filthiness. 2. The weaker sexual curiosity, the stronger the senses of being taken aback and filthiness. 3. The stronger the level of violence, The more violent the senses of being taken aback and filthiness. 4. The lower the level of violence, the weaker the senses of being taken aback and filthiness. 5. The younger the victims, the stronger the senses of being taken aback and filthiness. 6. The older the victims, The weaker the senses of being taken aback and filthiness. 7. 'Escaping' will transpire regardless of the given circumstances. 8. The weaker the senses of being taken aback and filthiness, the more probable 'informing' and 'escaping' transpire. 9. The stronger the senses of being taken aback and filthiness, the more probable 'informing' and 'escaping' transpire. 10. The more protective the response from 'informing' and 'escaping' transpire around, the more likely the response to being taken aback' and 'filthiness' will be 'informing' and 'escaping'. 11. The more repelling the response from around, the more likely the response to 'being taken aback' and 'filthiness' will be 'covering-up' and 'escaping'. 12. The more open minded the personality of the subject, the more likely the response to 'being taken aback' and 'filthiness' will be 'informing' and 'escaping'. 13. The more closed the personality of tile subject, the more likely the response to 'being taken aback' and 'filthiness' will be 'covering-up' and 'escaping'. 14. The more frequent the experience of sexual abuse, the more likely the response to 'being taken aback' and 'filthiness' will be 'informing' and 'escaping'. 15. The less frequent the experience of sexual abuse, the more lilely the response to 'being taken aback' and 'filthiness' will be 'covering-up' and 'escaping'. 16. The more available information concerning sexual abuses, the more likely response to 'being taken aback' and 'filthiness' will be 'informing' and 'escaping. 17. The less available information concerning sexual abuses, the more likely the response to 'being taken aback' and 'filthiness' will be 'covering-up' and 'escaping'. 18. The more cohesive the family of the subject, the more likely the response to 'being taken aback' and 'filthiness' will be 'informing' and 'escaping'. 19. The less cohesive the family of the subject, the more likely the response to 'being taken aback' and 'filthiness' will be 'covering-up' and 'escaping'. 20. The less familiar the subject is with the abuser, the more likely the response to 'being taken aback' and 'filthiness' will be 'informing' and 'escaping'. 21. The less familiar the subject is with the abuser, the more likely the response to 'being taken aback' and 'filthiness' will be 'covering-up' and 'escaping. 22. The more likely the response to 'being taken aback' and 'filthiness' is 'informing and 'escaping', the more positive changes the subject will pursue. 23. The more likely the response to 'being taken aback' and 'filthiness' is 'covering-up' and 'escaping', the more negative changes the subject will pursue. The following four hypotheses were conformed in the process of data analysis. 1) In case the level of violence is strong but 'being taken aback' and 'filthiness' in weak because of strong sexual curiosity and also if information concerning sexual abuse is not readily available and the frequency is low, negative internationalization marked by 'covering-up' and 'escaping' will take place despite the fact the subject is open-minded, the family is cohesive and the abuser is unfamiliar. 2) In case the level of violence is weak but 'being taken aback' and 'filthiness' is weak combined with weak sexual curiosity and also if information concerning sexual abuse is readily available and the response from around is protective and the frequency is high, the subject will pursue positive changes to 'being taken aback' and 'filthiness', further aided by the fact that the subject is open-minded, the family is cohesive and the abuser is unfamiliar. 3) In case the level of violence is strong and 'being taken abuse' and 'filthiness' is strong because of weak sexual curiosity and also if information concerning sexual abuse is reading available and the response from around is readily available and the response from around is protective and the frequency is low, the subject will persue positive changes marked by 'informing' and 'escaping' despite the fact that the family cohesion is weak and the abuser is familiar. 4) In case the level of violence is strong and 'being taken aback' and 'filthiness' is strong because of weak sexual curiosity and also if information concerning sexual abuse is not readily available and the response from around is respelling and the frequency is low negative internalization like 'covering-up' and 'escaping' will take place, further aggravated by the fact that the subject's personality is closed, family cohesion is weak, and subject is familiar. On the basis of the above finding, it is recommended that nursing intervention should focus on promoting the milieu conductive to the victims pursuing positive changes along with the adequate aids from protection facilities as well as from the people around them.

• Journal of the Korean Society of School Health
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• v.9 no.1
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• pp.109-123
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• 1996

The study was designed to gain necessary basic data, in order to grasp the actual condition on personal hygiene of primary school students and to help school health education and child health education data development of parents of students, the survery was carried out through this reporter's interview for mothers who have primary school pupil in KyungBug area during the period of a month from 14 the April to 30 the April 1994. The results of this study can be summarized as follows. 1. As for general characteristics, the percent of answer mothers with 30~34 years 44.9%, and the percent of answer mothers with 35~39 years was 37.6%, 14.6% of answer mother was 40 years and over. The most house types was apartment house, that is 64.8% and independence house was 18.9%, 13.7% of answer mothers was multivalent house residents. As for level of school career, the percent of high school was 64.2% and the percent of university was 20.5%, 10.1% of answer mothers was finishment of middle school. As for religion a lack of religion was 38.4% and a Buddhist was 36.8%, a christian was 13.4%, 10.4% of answer mothers was a catholic. As for jobs, the percent of office was 33.9%, specialist and expert skiller was 17.3%, self-management was 16.0%, fishing and agrarian villiages was 11.6%, public service personnel and shool personnel was 9.1%. As for the number of sons and daughters, the percent of two was 70.5%, the percent of one was 16.0%, and the percent of male students was 54.1%. As for level of economic life middle level was 59.9%. 2. The percentage of washing hand after school hours was 66.8% and not washing hand after school hours was 33.2%. In washing hand after school hours family of independence house, mothers that have schoolcareer of university, female students, three and over of sons and daughters was high individually (p<0.05). 3. As for paring one's nails, once a ten days was 52.9% once a five days was 22.5% once a fifteen days was 19.0%, once a twenty and over was 5.6%. 4. 54.7% of primary school students of answer mother's take a bath once a few days and 31.6% take a bath once a week, 10.1% take a bath once a tendays. 5. The percentage of changing of underwear once a day was 60.9%, once a few days was 37.1%, once a week was 2.0%, as for changing of underwear, sons and daughters that has mothers with 29 years and downward, one number of sons and daughters, females students was high individually (p<0.01). 6. The percentage of haircut once a 20~30 days was 59.9%, once a 31~40 days was 17.9%, once a 40 days and over was 16.6%. As for the percentage of haircut once a 20~30 days apartment house residents, male students was high (p<0.01). 7. The percentage of experience in taking nutrition was 79.8% and the percentage of experience in taking restorative was 72.3%. As for taking nutrition, apartment house residents, one number of sons and daughters, male students was high individually (p<0.01). As for taking restorative apartment house residents, on number of sons and daughters, male students was high individually (p<0.05). 8. The percentage of habit of unbalanced diet was 44.0%, sons and daughters that have mother with 40 years and over apartment house residents, male students, one number of sons and daughters was high indivdually (p<0.05). 9. As for hygiene condition of sons and daughters, the percentage of good state of health was 65.2%, middle state of health was 3.5% bad state of health was 11.4%. In good state of health sons and daughters that have mothers with 29 years and downward, multivalent house residents, three numbers of sons and daughters, female students, high birth was high individually. 10. As for fattness of sons and daughters, existence was 18.2%. No existence was 81.8%. in existence sons and daughters who have mothers with 40 years and downward, independence house resident, special job and expert skill job, three and over number of sons and daughters, female students, low birth was high individually. 11. As for use aspect of medical facilities of sons and daughters, hospital doctors was 53.1%, drugstore was 42.3%, chinese medicine hospitals or health organization was 4.6%. In usage of drugstore, sons and daughters of mothers with 29 years, 40 years and over was 55.6%, 61.4% individully, inusage of hospital doctors 30~34 years, 34~39 tears was 64.5%, 49.1% individully (p<0.01), apartment house residents, one or two numbers of sons and daughters, male students was high individually. In the percentage of using drugstore, school career of middle school and downward, in occupation, three and over numbers of sons and daughters, low birth was high individually (p<0.05). According to the results mentioned above. An actual condition and a related matters on personal hygiene of primary school students must be used as the basis data of a health education program and a health data of a health education program and a health data related, a teaching materials development and must be helped to the health life education of parents of students and childs.

• The Korean Society of Law and Medicine
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• v.21 no.2
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• pp.105-162
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• 2020

In the pandemic of infectious disease, restrictions of individual liberty have been justified in the name of public health and public interest. In March 2020, the National Assembly of the Republic of Korea passed the revised bill of the 「Infectious Disease Control and Prevention Act.」 The revised bill newly established the legal basis for forced testing and disclosure of the information of confirmed cases, and also raised the penalties for violation of self-isolation and treatment refusal. This paper examines whether and how these individual liberty limiting clauses be justified, and if so on what ethical and philosophical grounds. The authors propose the theories of the philosophy of law related to the justifiability of liberty-limiting measures by the state and conceptualized the dual-aspect of applying the liberty-limiting principle to the infected patient. In COVID-19 pandemic crisis, the infected person became the 'Patient as Victim and Vector (PVV)' that posits itself on the overlapping area of 'harm to self' and 'harm to others.' In order to apply the liberty-limiting principle proposed by Joel Feinberg to a pandemic with uncertainties, it is necessary to extend the harm principle from 'harm' to 'risk'. Under the crisis with many uncertainties like COVID-19 pandemic, this shift from 'harm' to 'risk' justifies the state's preemptive limitation on individual liberty based on the precautionary principle. This, at the same time, raises concerns of overcriminalization, i.e., too much limitation of individual liberty without sufficient grounds. In this article, we aim to propose principles regarding how to balance between the precautionary principle for preemptive restrictions of liberty and the concerns of overcriminalization. Public health crisis such as the COVID-19 pandemic requires a population approach where the 'population' rather than an 'individual' works as a unit of analysis. We propose the second expansion of the harm principle to be applied to 'population' in order to deal with the public interest and public health. The new concept 'risk to population,' derived from the two arguments stated above, should be introduced to explain the public health crisis like COVID-19 pandemic. We theorize 'the extended harm principle' to include the 'risk to population' as a third liberty-limiting principle following 'harm to others' and 'harm to self.' Lastly, we examine whether the restriction of liberty of the revised 「Infectious Disease Control and Prevention Act」 can be justified under the extended harm principle. First, we conclude that forced isolation of the infected patient could be justified in a pandemic situation by satisfying the 'risk to the population.' Secondly, the forced examination of COVID-19 does not violate the extended harm principle either, based on the high infectivity of asymptomatic infected people to others. Thirdly, however, the provision of forced treatment can not be justified, not only under the traditional harm principle but also under the extended harm principle. Therefore it is necessary to include additional clauses in the provision in order to justify the punishment of treatment refusal even in a pandemic.

• Korean Journal of Heritage: History & Science
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• v.51 no.2
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• pp.170-203
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• 2018

From the period of Japanese colonialism up to the present, the researchers of archaeology and ancient history in Korea and Japan have paid much attention to the Honam area. Recently the ruins and relics of Wae lineage are often discovered at archaeological excavation sites in this region. In particular, at least 17 keyhole-shaped mounds were confirmed. The fact that three mounds were built on one site was newly revealed. Haniwa, a representative earthenware object of the Kofun period in Japan, was discovered as well. Therefore, the study of a historical meaning of archaeological materials about Wae lineage in the Honam area thus far must be reexamined. The ruins and relics of Wae lineage in the Honam area have been studied by selecting only specific cases. I identified all the ruins and relics of Wae lineage in the Honam area and analyzed the process of their change in this paper. I reviewed the relationship between Wae and Mahan, and the purpose of their negotiation based on archaeological characteristics, changing processes, and historical records on a quarterly basis. The ruins and relics of Wae lineage have increased and widely spread since the early period of the 5th century in the Honam area. This tendency continued until the late period of the 6th century. Weapons of Wae lineage were introduced and tombs in the style of Wae were built from the late 4th century to the early period of the 5th century (TG232~TK216 period). Sueki was introduced from the middle to late period of the 5th century (TK208~TK23 period). Keyhole-shaped mounds and tombs in the style of Wae were built from the late period of the 5th century to the early period of the 6th century (TK47~MT15 period). Japanese weapons were introduced from the middle to late period of the 6th century (TK10~TK209 period). In other words, the archaeological appearance is different in each quarterly period. There was an intensive diplomatic relationship between Baekje and Wae in the TG232~TK216 period. The military might be included in a mission of Wae. The materials of Wae lineage of this period are likely to be related to this. Sueki spread to the inland part of the Honam area in the TK208~TK23 period. This Sueki tends to be excavated on advantageous sites for the accumulation and distribution of supplies. The main characters of the keyhole-shaped mounds are presumed to be a group of traders which were under the control of a certain influence in the north of Kyushu. The keyhole-shaped mounds were abruptly built at some distance from mounds of the leaders in the Honam area. Additionally, there was no special influence base to which the characters of the keyhole-shaped mounds belonged in the surroundings. However, it might have been impossible for the group of traders to build the keyhole-shaped mounds without the support from the residents at all because there was a big difference in the building technology of the keyhole-shaped mounds between Japan and the Honam area. The time of building some keyhole-shaped mounds is the same or almost the same with that of the mounds built for the regional leaders. This proves a close relationship with the residents as well. What do the archaeological materials of Wae lineage which have been used and buried mean over 200 years in the Honam area? Geumgwan Gaya, which had exported iron resources to Japan, perished in the early period of the 5th century. Instead of Gaya, the Honam area might have played an important role to supply the necessary resources to Japan. We assume that the Japanese (Wae) actively worked to acquire various resources focusing on the underground resources in the Honam area.

• Journal of Intelligence and Information Systems
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• v.25 no.2
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• pp.39-55
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• 2019

Recently banks and large financial institutions have introduced lots of Robo-Advisor products. Robo-Advisor is a Robot to produce the optimal asset allocation portfolio for investors by using the financial engineering algorithms without any human intervention. Since the first introduction in Wall Street in 2008, the market size has grown to 60 billion dollars and is expected to expand to 2,000 billion dollars by 2020. Since Robo-Advisor algorithms suggest asset allocation output to investors, mathematical or statistical asset allocation strategies are applied. Mean variance optimization model developed by Markowitz is the typical asset allocation model. The model is a simple but quite intuitive portfolio strategy. For example, assets are allocated in order to minimize the risk on the portfolio while maximizing the expected return on the portfolio using optimization techniques. Despite its theoretical background, both academics and practitioners find that the standard mean variance optimization portfolio is very sensitive to the expected returns calculated by past price data. Corner solutions are often found to be allocated only to a few assets. The Black-Litterman Optimization model overcomes these problems by choosing a neutral Capital Asset Pricing Model equilibrium point. Implied equilibrium returns of each asset are derived from equilibrium market portfolio through reverse optimization. The Black-Litterman model uses a Bayesian approach to combine the subjective views on the price forecast of one or more assets with implied equilibrium returns, resulting a new estimates of risk and expected returns. These new estimates can produce optimal portfolio by the well-known Markowitz mean-variance optimization algorithm. If the investor does not have any views on his asset classes, the Black-Litterman optimization model produce the same portfolio as the market portfolio. What if the subjective views are incorrect? A survey on reports of stocks performance recommended by securities analysts show very poor results. Therefore the incorrect views combined with implied equilibrium returns may produce very poor portfolio output to the Black-Litterman model users. This paper suggests an objective investor views model based on Support Vector Machines(SVM), which have showed good performance results in stock price forecasting. SVM is a discriminative classifier defined by a separating hyper plane. The linear, radial basis and polynomial kernel functions are used to learn the hyper planes. Input variables for the SVM are returns, standard deviations, Stochastics %K and price parity degree for each asset class. SVM output returns expected stock price movements and their probabilities, which are used as input variables in the intelligent views model. The stock price movements are categorized by three phases; down, neutral and up. The expected stock returns make P matrix and their probability results are used in Q matrix. Implied equilibrium returns vector is combined with the intelligent views matrix, resulting the Black-Litterman optimal portfolio. For comparisons, Markowitz mean-variance optimization model and risk parity model are used. The value weighted market portfolio and equal weighted market portfolio are used as benchmark indexes. We collect the 8 KOSPI 200 sector indexes from January 2008 to December 2018 including 132 monthly index values. Training period is from 2008 to 2015 and testing period is from 2016 to 2018. Our suggested intelligent view model combined with implied equilibrium returns produced the optimal Black-Litterman portfolio. The out of sample period portfolio showed better performance compared with the well-known Markowitz mean-variance optimization portfolio, risk parity portfolio and market portfolio. The total return from 3 year-period Black-Litterman portfolio records 6.4%, which is the highest value. The maximum draw down is -20.8%, which is also the lowest value. Sharpe Ratio shows the highest value, 0.17. It measures the return to risk ratio. Overall, our suggested view model shows the possibility of replacing subjective analysts's views with objective view model for practitioners to apply the Robo-Advisor asset allocation algorithms in the real trading fields.

• Journal of Intelligence and Information Systems
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• v.25 no.2
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• pp.25-38
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• 2019

Selecting high-quality information that meets the interests and needs of users among the overflowing contents is becoming more important as the generation continues. In the flood of information, efforts to reflect the intention of the user in the search result better are being tried, rather than recognizing the information request as a simple string. Also, large IT companies such as Google and Microsoft focus on developing knowledge-based technologies including search engines which provide users with satisfaction and convenience. Especially, the finance is one of the fields expected to have the usefulness and potential of text data analysis because it's constantly generating new information, and the earlier the information is, the more valuable it is. Automatic knowledge extraction can be effective in areas where information flow is vast, such as financial sector, and new information continues to emerge. However, there are several practical difficulties faced by automatic knowledge extraction. First, there are difficulties in making corpus from different fields with same algorithm, and it is difficult to extract good quality triple. Second, it becomes more difficult to produce labeled text data by people if the extent and scope of knowledge increases and patterns are constantly updated. Third, performance evaluation is difficult due to the characteristics of unsupervised learning. Finally, problem definition for automatic knowledge extraction is not easy because of ambiguous conceptual characteristics of knowledge. So, in order to overcome limits described above and improve the semantic performance of stock-related information searching, this study attempts to extract the knowledge entity by using neural tensor network and evaluate the performance of them. Different from other references, the purpose of this study is to extract knowledge entity which is related to individual stock items. Various but relatively simple data processing methods are applied in the presented model to solve the problems of previous researches and to enhance the effectiveness of the model. From these processes, this study has the following three significances. First, A practical and simple automatic knowledge extraction method that can be applied. Second, the possibility of performance evaluation is presented through simple problem definition. Finally, the expressiveness of the knowledge increased by generating input data on a sentence basis without complex morphological analysis. The results of the empirical analysis and objective performance evaluation method are also presented. The empirical study to confirm the usefulness of the presented model, experts' reports about individual 30 stocks which are top 30 items based on frequency of publication from May 30, 2017 to May 21, 2018 are used. the total number of reports are 5,600, and 3,074 reports, which accounts about 55% of the total, is designated as a training set, and other 45% of reports are designated as a testing set. Before constructing the model, all reports of a training set are classified by stocks, and their entities are extracted using named entity recognition tool which is the KKMA. for each stocks, top 100 entities based on appearance frequency are selected, and become vectorized using one-hot encoding. After that, by using neural tensor network, the same number of score functions as stocks are trained. Thus, if a new entity from a testing set appears, we can try to calculate the score by putting it into every single score function, and the stock of the function with the highest score is predicted as the related item with the entity. To evaluate presented models, we confirm prediction power and determining whether the score functions are well constructed by calculating hit ratio for all reports of testing set. As a result of the empirical study, the presented model shows 69.3% hit accuracy for testing set which consists of 2,526 reports. this hit ratio is meaningfully high despite of some constraints for conducting research. Looking at the prediction performance of the model for each stocks, only 3 stocks, which are LG ELECTRONICS, KiaMtr, and Mando, show extremely low performance than average. this result maybe due to the interference effect with other similar items and generation of new knowledge. In this paper, we propose a methodology to find out key entities or their combinations which are necessary to search related information in accordance with the user's investment intention. Graph data is generated by using only the named entity recognition tool and applied to the neural tensor network without learning corpus or word vectors for the field. From the empirical test, we confirm the effectiveness of the presented model as described above. However, there also exist some limits and things to complement. Representatively, the phenomenon that the model performance is especially bad for only some stocks shows the need for further researches. Finally, through the empirical study, we confirmed that the learning method presented in this study can be used for the purpose of matching the new text information semantically with the related stocks.

• Korean Journal of Heritage: History & Science
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• v.42 no.2
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• pp.62-85
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• 2009

The Nam-Hae Sin-sa, the South Sea shrine in Yeong-Am, Korea was a national institution for public peace and bliss, was excavated in 2000, and the shrine and the 3-way-gate were reconstructed in 2001. Hae Sin-sa, the Sea shrine is a place for religious service separated into the Nam-Hae Sin-sa, the Dong-Hae Myo, and the Seo-Hae Dan. The Dong-Hae Myo was reconstructed, but restored shrine and 3-way-gate of the Nam-Hae Sin-sa is not perfect in comparison with excavation plan in 2000, therefore new reconstruction was researched through the related literature, the analysis of historical maps and excavation results, the interview with the concerned people and the case study. This research defines the analysis of the Plan of the Nam-Hae Sin-sa Reconstruction as follows. 1. The Nam-Hae Sin-sa was the institution for religious service operated by national direct management, represents the shrine for public peace and bliss on the Mountain, the Sea, and the River. Especially the Nam-Hae Sin-sa had an important position on the pivot of international trade with China and Japan, and had a role of main shrine with another one in the Mt. Ji-ri San. 2. The name of the Sea shrine was called as Nam-Hae Sin-sa(the South Sea shrine), Dong-Hae Myo(the East Sea shrine), Seo-Hae Dan(the West Sea shrine). But the name of the South Sea shrine had changed in the early period of Chosun as Nam-Hae Sin-sa to the later Chosun as Nam-Hae Dang through the research of related literature and historical map. Such as the Seo-Hae Dan, it was constructed for the Dan, the flat raised-floor without buildings, and changed to the type of Sa-Dang with addition of buildings. 3. The historical map of Hae Sin-sa informs the types of the roof, the Mat-bae roof was used in the Dong-Hae Myo, but the Pal-jak roof was showed in the Seo-Hae Dan and the Nam-Hae Sin-sa. 4. According to the analysis of Yong-Ch'uck the unit length, Nam-Hae Sin-sa was reconstructed in the period of Koryo on large scale, but it was restored in the Chosun on middle scale. And the Unit of Yong Ch'uck was changed into Yeong-jo Ch'uck in the period of Chosun. 5. As the results, The Plan of the Nam-Hae Sin-sa Reconstruction designed the new shrine into the 3 Kan front and the 2 Kan side with 3:2 scale. An-ch'o-gong with Yong-du and Yong Mi the ornaments represents head and tail of dragon, the Un-gong and the ornament of Pa-ryun-dae-gong in the building, and the Ch'ung-ryang of the Yong-du show the image of the institution for religious service for the god of the sea who look like dragon. The inner gate building and the main entrance were designed as same plan and scale as Hyang-gyo, the Korean Traditional School and Shrine of Confucianism, on the basis of results of excavation. Raise the 3-tall gate of the main entrance with harmony of the scale and the shape, because the side of gate building has the Mat-bae roof. 6. This research shows that Plan of the Nam-Hae Sin-sa Reconstruction is composed into shrine space and reservation space from the main entrance to inner gate and shrine like Jung-ak Dan in the Mt. Gye-ryong San, and it also informs the well in the west side of Sin-sa is an important factor of the plan of shrine architecture.