• Title/Summary/Keyword: Exchange Rates

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Establishing Risk Management Process for Improved Business Value of a Multi-Purpose Building Project (복합 시설 프로젝트의 사업 가치 향상을 위한 리스크 관리 프로세스 구축 방안)

  • Lee, Jong-Sik;Cho, Seung-Ho
    • Journal of the Korea institute for structural maintenance and inspection
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    • v.22 no.1
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    • pp.64-71
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    • 2018
  • Project Management Institute of America separates the types of risk with external risks and internal risks. The external risk is an uncontrollable risk in projects such as changes of policy and related systems, climate, natural disasters, exchange rates and so on. The internal risk is an existing risk in the project itself that is controllable items in the project. Technical risks in project management are cost, quality, time, safety and environment. Therefore, both the external and internal risks should be managed to perform the construction project successfully. In particular, we can secure the quality and safety of facilities through the technical risk management. The importance of potential risk management has been emerging as a major interest and the lack of risk management delays projects and increases construction costs with negative effects of the building safety since the complex building, which is composed of a great number of facilities, consists of many project units and there are conflicts between various participants and stake-holders. This study presents the ways of establishing risk management processes to ensure the safety of the complex building. To that end, establishing procedure of risk management processes is presented and types of risk and factors in construction projects and counter strategies are presented as available risk information on the stages.

Measures of Underlying Inflation and Evaluation of Inflation Targeting with Global Crisis in Korea (글로벌 금융위기와 물가안정목표제 평가: 근원인플레이션을 중심으로)

  • Park, Won-Am
    • KDI Journal of Economic Policy
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    • v.32 no.3
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    • pp.1-32
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    • 2010
  • The global financial crisis has exerted enormous impacts on the attainment of inflation target in Korea. The annual average CPI inflation was 3.3% during the targeting period of 2007-2009 and the target was $3.0{\pm}0.5%$. Thus Korea has succeeded in keeping annual average CPI inflation just below the upper limit of the 2007-2009 target under the global crisis. This paper intends to evaluate the performance of the inflation targeting system in Korea. First, it estimates the conventional call rate reaction equation under the global crisis and finds that the policy interest rates never reacted to expected inflation, output gap, and won/dollar exchange rate, as expected by theory. Second, it identifies the shock of global financial crisis into core and non-core, applying the structural VAR model. The core shock was defined to have no (medium- to) long-run impact on real output. The core shock was identified to have the character of the demand shock, since it has the positive impact on the inflation and output in the short run. The structural core inflation due to core shock was an attractor of headline inflation, not vice versa. Therefore, the structural core inflation that reflects the demand-side shock would be the better intermediate target for the final headline inflation target than the official core inflation that excludes the volatile inflation of agricultural and oil-related products. During the inflation targeting period of 2007-2009, the structural core inflation was more volatile than the official core inflation, because the global crisis has very large negative impacts on the domestic demand as well as the prices of agricultural and oil-related products. This paper shows that the negative core shock during the fourth quarter of 2008 was larger than that in the financial crisis in 1998. But the core shock turned into positive very quickly in 2009, as the Korean economy recovered very quickly from crisis. The volatile changes in structural core inflation suggests that the Bank of Korea barely managed to attain the 2007-2009 inflation target, owing to the very large negative impacts of the global financial crisis on the domestic demand. It also suggests that the rapid rise in core inflation with the rapid recovery of the Korean economy will lead to rapid rise in headline inflation.

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Stock prediction using combination of BERT sentiment Analysis and Macro economy index

  • Jang, Euna;Choi, HoeRyeon;Lee, HongChul
    • Journal of the Korea Society of Computer and Information
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    • v.25 no.5
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    • pp.47-56
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    • 2020
  • The stock index is used not only as an economic indicator for a country, but also as an indicator for investment judgment, which is why research into predicting the stock index is ongoing. The task of predicting the stock price index involves technical, basic, and psychological factors, and it is also necessary to consider complex factors for prediction accuracy. Therefore, it is necessary to study the model for predicting the stock price index by selecting and reflecting technical and auxiliary factors that affect the fluctuation of the stock price according to the stock price. Most of the existing studies related to this are forecasting studies that use news information or macroeconomic indicators that create market fluctuations, or reflect only a few combinations of indicators. In this paper, this we propose to present an effective combination of the news information sentiment analysis and various macroeconomic indicators in order to predict the US Dow Jones Index. After Crawling more than 93,000 business news from the New York Times for two years, the sentiment results analyzed using the latest natural language processing techniques BERT and NLTK, along with five macroeconomic indicators, gold prices, oil prices, and five foreign exchange rates affecting the US economy Combination was applied to the prediction algorithm LSTM, which is known to be the most suitable for combining numeric and text information. As a result of experimenting with various combinations, the combination of DJI, NLTK, BERT, OIL, GOLD, and EURUSD in the DJI index prediction yielded the smallest MSE value.

The effecal of irradiance during leaf development on photoinhibition in Panag ginseng C. A. Meyer

  • Parmenter, Graeme;Littlejohn, Roger
    • Journal of Ginseng Research
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    • v.22 no.2
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    • pp.102-113
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    • 1998
  • This experiment used chlorophyll fluorescence techniques to assess the effect of irradiant during leaf development on photoinhibition of photosynthesis in Panax ginseng. Seedlings of p. ginseng were grown in the 91asshouse at four shade levels. The maximum mid-day irradiant in each treatment between emergence (January 4) and completion of the experiment (February 25) was 1220, 485, 235, 125 $\mu$mol/$\textrm{m}^2$/s. To assess the rapidity of photosynthetic readaptation to changes in light levels, fluorescence parameters (Fo, F, Fm, Fm', AF/Fm;, Fv/Fm) were measured for three days before and after transfer of plants (on February 21) from each light treatment into each of the other light treatments. Before transfer, dark adapted values of Fv/Fm in the 1220 (0.699) and 485 (0.739) treatments were different from each other and lower than values in the 235 (0.764) and 125 (0.768) treatments, indicating mild photoinhibition. Patterns of change in F during the day also differed between treatments, with low light treatments tracking irradiant levels, but F in the high light treatment (1220) declined in the morning, presumably due to fluorescence quenching. Although plants grown at high irradiant had relatively low photosynthetic efficiency, relative electron transport rate was greater than in lower irradiant treatments. After transfer, plants adopted the daily pattern of change in F of the treatment to which they were moved with little change in absolute levels of F, except in plants transferred from the highest (1220) to the lowest light level (125), where F increased over the course of the three days following transfer. After plants were transferred, Fm' converged on values similar to those in plants raised in the treatments to which they were moved. Values of Fv/Fm in plants moved from low to high light declined dramatically, but there was no decline in plants from 485 moved to 1220. Values of Pv/Fm in plants that were moved from high light to lower light increased to values above those recorded in plants raised in the lower light treatments. Reductions in quantum efficiency caused by photoinhibition at high irradiant may be more than compensated for by higher electron transport rates, although evidence suggests that under high irradiant this tends to be balanced by reduced leaf area and earlier senescence. Chlorophyll fluorescence techniques appear capable of indicating effects of irradiant induced stress in ginseng, yielding results comparable to those obtained with gas exchange techniques but in less time and with greater replication.

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Cadiorespiratory effects of isoflurane-anesthetized dogs with closed chest during spontaneous two-lung and one-lung ventilation (마취된 개의 자발호흡상태에서 일측폐환기 및 양측폐환기가 심순환기 및 호흡기계에 미치는 영향)

  • Song, Young-sung;Chang, Hwa-seok;Kim, Hye-jin;Kim, Soon-shin;Choi, Joon-chul;Yang, Hee-taek;Chung, Dai-jung;Kim, Hwi-yool
    • Korean Journal of Veterinary Research
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    • v.45 no.2
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    • pp.279-285
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    • 2005
  • One-lung ventilation (OLV) is the isolation and selective ventilation of one lung field. OLV allows the collapse of lung lobes on the side of the thoracic surgical approach to facilitate observation of intrathoracic structures and to achieve lung immobility. OLV be achieved by endotracheal intubation with double lumen tubes or bronchial blockers. In this study, cardiopulmonary consequences of two-lung ventilation (TLV), OLV and Re-TLV (TLV after OLV) were evaluated in 5 dogs. The dogs were anesthetized with mask induction and maintained with isoflurane in oxygen. Tidal volume and respiratory rates were set to maintain end-tidal $CO_2$ at $40{\pm}2mmHg$ during instrumentation. Following instrumentation, the dogs were placed in right lateral recumbency and induced spontaneously respiration state. Effect of TLV on hemodynamic and pulmonary variables were recorded. Then, the left bronchus was obstructed by endotracheal intubation with double lumen endotracheal tube to achieve OLV state and recording was continued. After OLV, double lumen endotracheal tube was extubated, and standard endotracheal tubes was intubated again. In this study, spontaneous OLV caused significant decrease in $PaO_2$, arterial oxygen saturation, mixed-venous oxygen saturation, and increase in $PaCO_2$. Especially, a significant elevation in $PaCO_2$ and respiratory acidosis were remarkable findings. So spontaneous ventilation in OLV affected gas exchange and hemodynamic function.

Adsorption and Removal Mechanism of Dissolved Inorganic Nutrients in Seawater by Yellow Loess (황토살포에 의한 해수중 영양염류의 흡착제거기구)

  • Kim Pyoung Joong;Heo Seung;Yun Seong Jong
    • Korean Journal of Fisheries and Aquatic Sciences
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    • v.35 no.2
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    • pp.146-154
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    • 2002
  • To assess the adsorption and removal mechanism of dissolved inorganic nutrients in seawater by scattering yellow loess, a laboratory experiment was conducted for the change of nutrient concentration in seawater during the course of time depending on particle size and scattered concentration of the yellow loess. Twenty four hours after the addition of yellow loess in the size range of 0 $\mu$m to 500 $\mu$m in seawater, the removal rate of dissolved inorganic phosphorus (DIP) was increased with increasing amount of yellow loess. There was little difference among the removal rates depending on the size of yellow loess. On average, $26\%$ of dissolved inorganic silicate was reduced for the same period. No greate difference among the removal rate depending on both size and amount of yellow loess was found. Our results suggested that the removal mechanism of DU seemed to be associated with mostly the chemical bond with iron. More than $99\%$ of initial DU concentration was likely to be removed by this mechanism. In the case of inorganic dissolved silicate, the removal mechanism was likely to be attributed to a cation exchange between the yellow loess and seawater.

Simultaneous Determination of Heavy Metals in Cosmetic Products by Ion Chromatography (이온 크로마토그래피를 이용한 화장품 중 중금속 동시분석)

  • Lee, So-Mi;Jeong, Hye-Jin;Kim, Han-Kon
    • Journal of the Society of Cosmetic Scientists of Korea
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    • v.34 no.1
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    • pp.57-62
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    • 2008
  • No matter how small amount of heavy metals it may be cause skin allergies through percutaneous adsorption when existing in cosmetic products as impurities. In order to develop a highly sensitive method for simultaneous determination of $Pb^{2+},\;Fe^{2+},\;Cu^{2+},\;Ni^{2+},\;Zn^{2+},\;Co^{2+},\;Cd^{2+},\;and\;Mn^{2+}$ in coloring agents and cosmetic products with rapidity and accuracy, we carried out the determination on ion chromatography. All of these metals are well separated through a bifunctional ion-exchange column(IonPac CS5A) and detected by post-column reaction and spectrophotometric detection. The calibration graphs are linear($r^2>0.999$) in the range $0.1{\sim}1000{\mu}g/mL$. Detection limits for 200 ${\mu}L$ of sample solution are at the level of ${\mu}g/L$, which is sufficient for judging whether the product is safe or not. The relative standard deviations(RSDs) of the retention time and the peak area are less than 0.21 and 1.24%, respectively. The recovery rates are $97{\sim}104%$. The new method was applied to analyze the amount of heavy metals which were contained in 22 cosmetic products and 11 coloring agents.

Analysis of an Immobilized β-Galactosidase Reactor with Competitive Product Inhibition Kinetics (경쟁적 저해를 갖는 고정화 β-galactosidase 반응기의 해석)

  • Kang, Byung Chul
    • Journal of Life Science
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    • v.23 no.12
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    • pp.1471-1476
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    • 2013
  • The present study deals with the immobilization of Kluyveromyces lactis ${\beta}$-galactosidase on a weak ionic exchange resin (Duolite A568) as polymer support. ${\beta}$-Galactosidase was immobilized using the adsorption method. A kinetic study of the immobilized enzyme was performed in a packed-bed reactor. The adsorption of the enzyme followed a typical Freundlich adsorption isotherm. The adsorption parameters of k and n were 14.6 and 1.74, respectively. The initial rates method was used to characterize the kinetic parameters of the free and immobilized enzymes. The Michaelis-Menten constant ($K_m$) for the immobilized enzyme (120 mM) was higher than it was for the free enzyme (79 mM). The effect of competitive inhibition kinetics was studied by changing the concentration of galactose in a recycling packed-bed reactor. The kinetic model with competitive inhibition by galactose was best fitted to the experimental results with $V_m$, $K_m$, and $K_I$ values of 46.3 $mmolmin^{-1}mg^{-1}$, 120 mM, and 24.4 mM, respectively. In a continuous packed-bed reactor, increasing the flow rate of the lactose solution decreased the conversion efficiency of lactose at different input lactose concentrations. Continuous operation of 11 days was conducted to investigate the stability of a long-term operation. The retained activity of the immobilized enzymes was 63% and the half-life of the immobilized enzyme was found to be 15 days.

Different Photosynthetic Responses of Black Cherry (Prunus serotina) with Different Sensitivities to Ambient Ozone Concentrations under Natural Conditions (자연상태에서 대기 중 오존 농도에 상이한 민감성을 가진 Black Cherry(Prunus serotina)의 상이한 광합성 반응)

  • Yun, Myoung-Hui;Chevone, Boris I.
    • Korean Journal of Agricultural and Forest Meteorology
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    • v.10 no.4
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    • pp.132-140
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    • 2008
  • Two different sensitivity classes of black cherry (Prunus serotina) under the natural growing environmental conditions were assessed adjacent to Air Monitoring Station located at Horton research center in Giles County, Virginia, USA. Ambient ozone concentrations, leaf gas exchange, and visible foliar injury were measured on-site during the growing seasons of 2000, 2001, and 2002. Ambient ozone exposures were sufficient to induce typical foliar visible injury corresponding with the reduction in photosynthetic activities only in sensitive black cherry. There were positive correlations between increasing cumulative ozone concentration and percent reduction in maximum net photosynthetic rates ($Pn_{MAX}$) under saturating light conditions and in quantum yield for carbon reduction (${\Phi}CO_2$) of sensitive black cherry compared to tolerant black cherry. There was a negative correlation between chlorophyll content and percent leaf injury in sensitive black cherry. Furthermore, $Pn_{MAX}$ was inversely related to percent leaf injury.

Competency Assessment of Korean Construction Firms on International Plant Projects (국내 기업의 경쟁력 및 업무역량 분석 - 해외 플랜트 사업을 중심으로 -)

  • Jang, Hyoun-Seung;Lee, Bok-Nam;Choi, Seok-In;Koo, Bon-Sang
    • Korean Journal of Construction Engineering and Management
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    • v.9 no.4
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    • pp.173-181
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    • 2008
  • Last decade, Korea's export scale has resulted in remarkably increasing tendency, and the Korean construction firms(KCFs)' activities on the global markets also have been revitalized. Therefore, this paper analyze a correlation between changes in the oversee market conditions and firms' competitiveness focused on plant business. The aim of this paper is to analyze the internal competency change of the KCFs on the global markets in the past 5 years and to find gap of internal competencies between KCFs and outstanding foreign firms. From a survey analysis this paper found that the external impacts on the global markets(changes of exchange rates, raw materials prices, supply-demand conditions, etc.) have highly influenced the sales amount of the KCFs. But the impacts to change the operating profit have been analyzed as not important. So it is necessary to reinforce the KCF's internal competencies rater than expecting an improvement of the external conditions. Also, the KCFs should strengthen the design engineering as a core competency.