• 경영과정보연구
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• 제4권
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• pp.611-629
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• 2000

In the legislation interpretation and fundamental viewpoint about the legal system of insider trading, Japan strictly legislate under the proposition, the principle of 'nulla poena,' adopted 'the principle of limited enumeration,' and United states, under 'the principle of comprehension,' has entrusted courts with establishment of concrete concepts and standard, so the courts are very flexible in determining the range of insiders and the importance of inside information to show a strong will to eradicate insider trading. Korea has a legislative position of 'the principle of limited indication' which has been created by the negotiation between those principles of United states and Japan. Though this court has interpreted insider trading, insider trading using non-disclosed information has increased lately, needing the strengthening of its regulations. However, this shows us that sophisticate the regulations may be, the exposure of insider trading has limitations. The most important thing is to change recognition for transparency of the securities market, security of investors and to establish the atmosphere which is that fair stock trading made in a sound capital market to raise funds for corporation. The policies of improving unfair trading, self-regulation bodies, raising the transparency and legality of procedures of supervision and monitoring and applying 'compliance program' to stock companies are very needed to eliminate unfair trading in the securities market and establish the order of trading.

• 한국정보시스템학회지:정보시스템연구
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• 제20권1호
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• pp.107-126
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• 2011

Model-based decision support system (DSS) has acted as a crucial role in strengthening the business competitiveness by providing a way of modeling and solving real-world decision problems in a quantitative and scientific manner. It is even more important for trading OTC derivatives, which requires extensive financial-engineering expertise while actively reacting to the continuously changing financial market. This paper proposes a flexible model-based DSS architecture that can support user-friendly interface for executing and analyzing the models and can adapt to the changes of financial market seamlessly. For user-friendliness, we implement the user-interfaces (UIs) using Microsoft Excel, a very widely used spreadsheet program for its great generality and extensibility. Users can utilize the analysis results of DSS or reprocess them for their special needs through the UIs in the form of familiar spreadsheets easily. For adaptiveness to the markets, the proposed architecture is constructed based on the object-oriented concepts, which enables such changes as release of a new financial product can be updated into the system without any delay at the lowest cost. We investigate the practical benefits and limitations of the proposed architecture by a case study on the construction of Model-based Trading Support System (MTSS), performed by a commercial bank in Korea.

• 한국지능정보시스템학회:학술대회논문집
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• 한국지능정보시스템학회 2005년도 공동추계학술대회
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• pp.379-390
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• 2005

In this paper, we introduce a new combinatorial auction mechanism - N-Bilateral Optimized Combinatorial Auction (N-BOCA). N-BOCA is a flexible iterative combinatorial auction model that offers optimized trading for multi-suppliers and multi-purchasers in the supply chain. We design the N-BOCA system from the perspectives of architecture, protocol, and trading strategy. Under the given N-BOCA architecture and protocol, auctioneers and bidders have diverse decision strategies for winner determination. This needs flexible modeling environments. Hence, we propose an optimization modeling agent for bid and auctioneer selection. The agent has the capability to automatic model formulation for Integer Programming modeling. Finally, we show the viability of N-BOCA through prototype and experiments. The results say both higher allocation efficiency and effectiveness compared with I-to-N general combinatorial auction mechanisms.

• 기술사
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• 제44권6호
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• pp.29-34
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• 2011

Korea has been officially classified as a non Annex-I country under the Kyoto Protocol, however, international community is used to considering it as if it were an Annex-I country. Korea has been under great pressure from the international community, especially from the EU and the US, to get included as an Annex-I country or to accept a legally-binding emissions reduction target like other developed nations. Korean Government declared its national target of emissions reduction in 2020 before the Copenhagen meeting, and also pronounced "Low-Carbon Green-Growth" as a new national paradigm to drive the entire nation toward a low carbon society and develop a new growth momentum. The 'green Act', which was passed by the National Assembly in 2009, is a comprehensive and fundamental law providing legal grounds to all of the national policies and measures that are needed to transform the nation into a low-carbon society. Korean government announced to begin Carbon Emissions Trading from 2015, instead of the originally scheduled year of 2013, considering global trends and industrial competitiveness in a flexible manner. The Carbon Emission Trading would reduce carbon emissions by 30 percent from the expected 2020 level, or 4 percent below its emissions in 2005.

• 한국경영과학회지
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• 제33권1호
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• pp.19-33
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• 2008

In the previous double auction research for the market optimization, two basic assumptions are usually applied - (1) each trader has a linear or quasi-linear utility function of price and quantity, and (2) buyers as well as sellers have identical utility functions. However, in practice, each buyer and seller in a double auction market may have diverse utility functions for trading goods. Therefore, a flexible and integrated double auction mechanism that can integrate all traders' diverse utility functions is necessary. In particular, the flexible mechanism is more useful in a synchronous double auction because traders can properly change utilities in each round. Therefore, in this paper, we propose a flexible synchronous double auction mechanism in which traders can express diverse utility functions for the price and quantity of the goods, and optimal total market utility is guaranteed. In order to optimize the total market utility which consists of multiple complex utility functions of traders. We show the viability of the proposed mechanism through a several simulation experiments.

• 한국지능시스템학회논문지
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• 제23권4호
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• pp.348-353
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• 2013

최근들어, 확률론적 최적제어를 포함한 제어이론과 각종 기계학습 기반 인공지능 방법론은 금융공학 분야의 주요 도구로 자리를 잡아 가고 있다. 본 논문에서는 평균회귀 현상을 보이는 시장을 위한 페어 트레이딩 전략 분야와 추세 추종형 트레이딩 전략 분야에 대해 확률론적 최적제어 이론을 활용한 최신 논문 몇 편을 간단히 살펴보고, 보다 융통성 있고 접근성이 좋은 도구를 확보하기 위하여 확률론적 최적제어이론과 기계학습 기법을 동시에 응용하는 전략을 고려한다. 예시를 위하여 실시한 시뮬레이션은 본 논문에서 고려한 전략이 실제 금융시장 데이터를 대상으로 적용될 때 고무적인 결과를 제공할 수 있음을 보여준다.

• 한국도로학회논문집
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• 제17권1호
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• pp.25-33
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• 2015

PURPOSES : This paper, presents the results of a laboratory study aimed to verify the suitability of a particular type of Electric Arc Furnace (EAF) steel slag to be recycled in the lithic skeleton of both dense graded and porous asphalt mixtures for flexible pavements. METHODS : Cyclic creep and stiffness modulus tests were performed to evaluate the mechanical performance of three different asphalt mixtures (dense graded, porous asphalt, and stone mastic) prepared with two types of EAF steel slag. For comparison purposes, the same three mixtures were also designed with conventional aggregates (basalt and limestone). RESULTS : All the asphalt mixtures prepared with EAF steel slag satisfied the current requirements of the European standards, which support EAF steel slag as a suitable material for flexible pavement construction. CONCLUSIONS : Based on the experimental work, the use of waste material obtained from steel production (e.g. EAF steel slag) as an alternative in the lithic skeleton of asphalt mixtures can be a satisfactory and reasonable choice that fulfills the "Zero Waste" objective that many iron and steel industries have pursued in the past decades.

• 지능정보연구
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• 제12권1호
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• pp.139-161
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• 2006

본 논문에서는 새로운 조합경매(combinational auction)모형인 다자간 최적화 경매모형(N-Bilateral Optimized Combinatorial Auction; N-BOCA)을 제시하였다. N-BOCA는 다수의 공급자 및 다수의 구매자간 최적화된 거래를 지원하는 조합경매모형이다. 특히 아키텍처, 거래규약, 거래전략 세가지 관점에서 N-BOCA 시스템을 설계하였다. 경매시장 참여자인 경매자들과 입찰자들은 특정 아키텍처 및 거래규약하에서 최적 거래 대상자 선정을 위한 다양한 전략을 가지게 되며 이러한 거래전략에 따른 유연한 의사결정 모델링 지원을 필요로 한다. 이에 본 논문에서는 최적의 입찰 및 경매자 선정을 위한 Integer Programming 모형 기반의 에이전트 시스템을 제시하였다. 아울러 N-BOCA모형의 유용성을 입증하기 위해 프로토타입과 실험결과를 제시하였다. 실험결과, 기존의 일대다 조합경매 모형 대비 높은 거래 성과를 나타내었다.

• 한국컴퓨터정보학회논문지
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• 제8권1호
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• pp.140-148
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• 2003

B2B 전자상거래가 국가간에서 활발한 움직임이 전개될 시기도 멀지 않을 것으로 보인다. 우리는 B2B 전자상거래를 활성화하기 위해서는 민간주도의 자율적 규제원칙이 우선적으로 계속 추진되어야하고 기업간 협력정서와 기업간 관계 진작을 위한 정책수립 및 시행도 요구된다. 기업간 전자상거래의 효율성과 효과를 감안한 경쟁정책의 조율과 국제표준화 활동에의 적극 참여 등 정부 정책도 필수적이다. 그리고 현재 우리나라의 기업간 전자상거래 시장 확대를 위한 현황 분석은 물론 향후 정책대응 방안 마련도 되어야 한다. 그러기 위해서는 우리나라 기업간 전자상거래 시장 분석을 위한 기업거래 관행과 기업간거래 연계 방안 그리고 B2B 전자상거래 정책방향에 대한 분석이 계속 이루어져야 한다.

• 경영과학
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• 제17권3호
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• pp.147-160
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• 2000

These days, a modeling tool or environment has to know about the others on the market and build bridges to them with which their customers insist on sharing models and data. When it is based on a closed architecture, a tangle of import/export point translators is required. Using an exchange standard, we can design an open architecture for the interchange of models and data. XML(Extensible Markup Language) provides a framework for describing the syntax for creating and exchanging data structures. The explosive growth of XML-based business proposals and standards reflects the urgent requirements and its strength. This paper proposes an XML-based language for sharing decision models within the MSOR/DSS community. The language is able to allow applications and on-line analytic processing tools to models obtained from multiple sources without having to deal with individual differences between those sources. It is expected to be a medium for B2B integration by supporting flexible interchange of decision models.