• The Korean Society of Law and Medicine
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• v.21 no.1
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• pp.223-259
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• 2020

With COVID-19 spreading rapidly around the world, research and development issues on treatments and vaccines for the virus are of high interest. Among them, Remdesivir was the first to show noticeable therapeutic effects and began clinical trials, with each country authorizing the use of the drug through emergency approval. However, Gilead Co., Ltd., the developer of Remdesivir, received a lot of criticism from civic groups for submitting the application for the marketing authorization as an orphan drug. This is because when a new drug got a marketing authorization as an orphan drug could be granted an exclusive status for seven year. The long-term exclusive status of an orphan drug comes from the policy purpose of motivating pharmaceutical companies to develop treatment opportunities for patients suffering from rare diseases, which was not appropriate to apply to infectious disease treatments. This paper provides a review of the problems and improvement directions of the domestic system through comparative legal consideration against the United States, Europe and Japan for the statutes which give exclusive status to medicines. The domestic system has a fundamental problem that it does not have explicit provisions in the statute in the manner of granting exclusive status, and that it uses the review system to give it exclusive status indirectly. In addition, in the case of orphan drugs, the "Rare Diseases Management Act" and the "Regulations on Examination of Items Permission and Reporting of Drugs" provide overlapping review periods, and despite the relatively long monopoly period, there seems to be no check clause to recover exclusive status in the event of a change in circumstances. Given that biopharmaceuticals are difficult to obtain patents, the lack of such provisions is a pity of domestic legislation, although granting exclusive rights may be a great motivation to induce drug development. In the United States, given that the first biosimilar also has a one-year monopoly period, it can be interpreted that domestic legislation is quite strictly limited to granting exclusive status to biopharmaceuticals. The need for improvement of the domestic system will be recognized in that it could undermine local pharmaceutical companies' willingness to develop biopharmaceuticals in the future, and in that it is also necessary to harmonize international regulations. Taking advantage of the emergence of COVID-19 as an opportunity, we look again at the problems of the domestic system that grants exclusive rights to medicines and hope that an overall revision of the relevant legislation will be made to establish a unified legal basis.

• Asia-Pacific Journal of Business
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• v.13 no.1
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• pp.247-262
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• 2022

Purpose - The purpose of this study is to examine the impact of the Pandamic Declaration on 'untact firms' listed in KOSPI and KOSDAQ market in order to verify Investor Mania Hypothesis. Design/methodology/approach - This study collected financial data for 44 untact firms in KOSPI and KOSDAQ market. Then, we employed ESM(Event Study Methodology), EGARCH model and DID(Difference-In-Difference) for analysis. Findings - First, in contrast with the benchmarking index, KOSPI 200 which shows a negative (-) abnormal return trend, the untact firms have positive abnormal return trend consistently. Second, after the Pandemic Declaration, the variability of abnormal return for the untact firms is found to be significantly positive. Third, we find that the cumulative abnormal return and volatility of the untact firms significantly increase after the Pandemic Declaration. Research implications or Originality - Based on the Investor Mania Hypothesis, we confirm that the market potential of untact firms after the Pandemic Declaration is observed when compared with the KOSPI 200.

• The Bulletin of The Korean Astronomical Society
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• v.45 no.1
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• pp.57.1-57.1
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• 2020

The pandemic of COVID-19 has made it difficult to gather participants in offline astronomical programs since March, 2020. For this reason Gwacheon National Science Museum has developed online programs of the partial solar eclipse and the Asteroid Day event in June, the celebration for launching Mars 2020 in July and Perseids in August. In this poster, we present how to plan each of them and research on methods that deliver astronomical contents to viewers effectively. In addition, we introduce preparing a couple of online programs in the rest of this year.

• Journal of Internet Computing and Services
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• v.22 no.3
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• pp.17-26
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• 2021

Recently, COVID-19 has spread and time to stay at home has been increasing in accordance with quarantine guidelines of the government such as recommendations to refrain from going out. As a result, the number of single-person households staying at home is also increasingsingle-person households are less likely to be notified to the outside world in times of emergency than multi-person households. This study collects various situations occurring in the home with lidar, image, and voice sensors and analyzes the data according to the sensors through their respective algorithms. Using this method, we analyzed abnormal patterns such as emergency situations and conducted research to detect abnormal signs in humans. Artificial intelligence algorithms that detect abnormalities in people by each sensor were studied and the accuracy of anomaly detection was measured according to the sensor. Furthermore, this work proposes a fusion method that complements the pros and cons between sensors by experimenting with the detectability of sensors for various situations.

• Health Policy and Management
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• v.33 no.1
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• pp.29-39
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• 2023

Background: Breaking the chain of disease transmission from overseas is necessary to control new infectious diseases such as coronavirus disease 2019 effectively. In this study, we developed a mobile app called Self-Symptom Checker (SSC) to monitor the health of inbound travelers. Methods: SSC was developed for general users and administrators. The functions of SSC include non-repudiation using QR (quick response) codes, monitoring fever and respiratory symptoms, and requiring persons showing symptoms to undergo polymerase chain reaction tests at nearby screening stations following a review of reported symptoms by the Korea Disease Control and Prevention Agency, as well as making phone calls, via artificial intelligence or public health personnel, to individuals who have not entered symptoms to provide the necessary information. Results: From February 12 to March 27, 2020, 165,000 people who were subjected to the special entry procedure installed SSC. The expected number of public health officers and related resources needed per day would be 800 if only the phone was used to perform symptom monitoring during the above period. Conclusion: By applying SSC, more effective symptom monitoring was possible. The daily average number of health officers decreased to 100, or 13% of the initial estimate. SSC reduces the work burden on public healthcare personnel. SSC is an electronic solution conceived in response to health questionnaires completed by inbound travelers specified in the World Health Organization International Health Regulations as a requirement in the event of a pandemic.

• Journal of Industrial Convergence
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• v.18 no.3
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• pp.109-116
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• 2020

The purpose of this study is to make suggestions for the infectious disease surveillance systems as part of the government's healthcare policy intended to minimize damage by implementing an appropriate and swift crisis management in the event of future infectious disease outbreaks. To that end, this descriptive study analyzes the infectious disease outbreaks and the management and control thereof in Korea and other countries, so as to suggest some approaches to infectious disease surveillance systems applicable to affected regions. The analysis results shed light on the causes of the spread of future infectious diseases over the past years, and the management systems that could possibly deal with the trial and error in the response policy. It seems crucial to roll out appropriate information, training and promotion programs as part of the national disaster response systems to prevent infectious diseases in relation to the roles of multiple relevant government agencies in the event of disasters especially amid the COVID-19 pandemic.

• Journal of Korea Multimedia Society
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• v.23 no.10
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• pp.1270-1285
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• 2020

As a representative concept of the fourth industrial revolution era where everything is digitized, digital twin means analyzing and optimizing a complex system using a simulation model synchronized with the system. In this paper, we propose a digital twin simulation model for the efficient operation of urban railways in Busan. Due to the geopolitical nature of Busan, where there are many mountains and narrow roads, the railways are more useful than other public transportation. However, this inversely results in a high level of congestion, which is an inconvenience to citizens and may be fatal to the spread of the virus, such as COVID19. Considering these characteristics, the proposed model analyzes the congestion level of the railways in Busan. The model is developed based on a mathematical formalism called discrete-event system specification and deduces the congestion level and the average waiting time of passengers depending on the train schedule. In addition, a new schedule to reduce the congestion level is derived through particle swarm optimization, which helps the efficient operation of the railways. Although the model is developed for the railways in Busan, it can also be used for railways in other cities where a high level of congestion is a problem.

• Journal of Korea Trade
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• v.27 no.2
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• pp.96-114
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• 2023

Purpose - This paper elucidates a nexus between the occurrence of rare disaster events and the volatility of economic growth by distinguishing the likelihood of rare events from stochastic volatility. We provide new empirical facts based on a quarterly time series. In particular, we focus on the role of financial liberalization in spreading the economic crisis in developing countries. Design/methodology - We use quarterly data on consumption expenditure (real per capita consumption) from 44 countries, including advanced and developing countries, ending in the fourth quarter of 2020. We estimate the likelihood of rare event occurrences and stochastic volatility for countries using the Bayesian Markov chain Monte Carlo (MCMC) method developed by Barro and Jin (2021). We present our estimation results for the relationship between rare disaster events, stochastic volatility, and growth volatility. Findings - We find the global common disaster event, the COVID-19 pandemic, and thirteen country-specific disaster events. Consumption falls by about 7% on average in the first quarter of a disaster and by 4% in the long run. The occurrence of rare disaster events and the volatility of gross domestic product (GDP) growth are positively correlated (4.8%), whereas the rare events and GDP growth rate are negatively correlated (-12.1%). In particular, financial liberalization has played an important role in exacerbating the adverse impact of both rare disasters and financial market instability on growth volatility. Several case studies, including the case of South Korea, provide insights into the cause of major financial crises in small open developing countries, including the Asian currency crisis of 1998. Originality/value - This paper presents new empirical facts on the relationship between the occurrence of rare disaster events (or stochastic volatility) and growth volatility. Increasing data frequency allows for greater accuracy in assessing a country's specific risk. Our findings suggest that financial market and institutional stability can be vital for buffering against rare disaster shocks. It is necessary to preemptively strengthen the foundation for financial stability in developing countries and increase the quality of the information provided to markets.

• The Journal of the Convergence on Culture Technology
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• v.9 no.4
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• pp.437-443
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• 2023

We investigates MICE participants's evaluation on the application of smart tourism technology by comparing their importance and performance. Date were collected from MICE participants who had attended in hybrid MICE in recent five years, The three dimensions of smart tourism technology were event management, extension of contents, and community. We found that event management and community affected on overall satisfaction of MICE participants. The result of paired t-test revealed that there were significant differences in audience interaction, webinar, virtual showcase, communication by social hub, virtual marketplace, and matchmaking The importance-performance matrix also indicated that matchmaking, virtual marketplace, audience interaction, communication by social hub, and webinar were major weakness and should be improved in the future.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.135-143
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• 2021

Information has an essential role in decision-making for investors who will invest in financial markets, especially regarding the policies on the condition of COVID-19. The purpose of this study is to determine the market reaction to the information published by the government regarding the policy changes to the provisions of Trading Halt on the IDX in an emergency using the event study method. The population in this study was companies listed on the Indonesia Stock Exchange in March 2020; the sample selection technique was purposive sampling. Data analysis used a normality test and one sample T-test. The results of the study found that there were significant abnormal returns on the announcement date, negative abnormal returns around the announcement date, and significant trading volume activity occurring three days after the announcement. The existence of a significant positive abnormal return on the announcement date indicates that the market responds quickly to information published by the government. The practical implication of this research can be taken into consideration for investors in making investment decisions to analyze and determine the right investment options so that investors can minimize the risk of their investment and maximize the profits they want to achieve.