• Journal of Construction Engineering and Project Management
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• v.7 no.3
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• pp.15-25
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• 2017

The existence of material price volatility in construction projects puts forward substantial risks for all parties involved. Depending on the parties involved in the project, type of contracts, and state of the market various risk management strategies are practiced by contracting parties to manage project risks related to price volatility. Unfortunately, in many cases companies fail to select an adequate approach to better manage volatilities of material prices due to the lack of a decision support system to aid in the selection of an appropriate strategy based on the project characteristics. The aim of this study is to identify critical project factors and align them to documented strategies to manage price volatility based on an extensive literature review and industry interviews. This study found Integrated Project Delivery (IPD) as the ideal strategy with respect to project duration; quantitative risk management methods with respect to the cost; and Price Adjustment Clauses (PAC) with respect to the risk allocation, as the top price volatility management strategies.

• Journal of the Korean Data and Information Science Society
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• v.23 no.2
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• pp.365-374
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• 2012

Weather derivatives designed to manage casual changes of weather, as opposed to catastrophic risks of weather, are relatively a new class of financial instruments. There are still many theoretical and practical challenges to the effective use of these instruments. The objective of this paper is to develop a pricing approach for valuing weather derivatives and presents a case study that is practical enough to be used by the risk managers of electrical utility firms. Utilizing daily average temperature data of Guangzhou, China from $1^{st}$ January 1978 to $31^{st}$ December 2010, this paper adopted a univariate time series model to describe weather behavior dynamics and calculates equilibrium prices for weather futures and options for an electrical utility firm in the region. The results imply that the risk premium is an important part of derivatives prices and the market price of risk affects option values much more than forward prices. It also demonstrates that weather innovation as well as weather risk management significantly affect the utility's financial outcomes.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• v.2
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• pp.27-31
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• 2006

With the fast developing pace, the Galileo system is entering the navigation stage with high profile. At the same time, U.S. is accelerating his GPS modernization schedule, and Russian also begins to resuscitate their GLONASS. Moreover, Chinese Beidou system has also joined the satellite navigation family with low profile already. And of course Japanese QZSS even moves forward. Along with the bitter competition in technology, finance, market and even military affairs, all these systems will firmly benefit each other and massively extend the role of civil satellite navigation industry in the future. The Global Navigation Satellite Systems (GNSS) would be almost certain to include above major satellite navigation systems. Thus how to utilize the navigation satellite resource for world peace and promote the progress of mankind should be the key issue of this century.

• Industrial Engineering and Management Systems
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• v.7 no.1
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• pp.78-89
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• 2008

The need for holistic modeling efforts for returns that capture the extended closed loop supply chain (CLSC) system at strategic as well as operational level has been clearly recognized by the industry and academia. Strategic decision-makers need comprehensive models that can guide them in efficient decision-making to increase the profitability of the entire forward and return chain. Therefore, determination of a near optimal design configuration, which includes the environmental, economical and technological capability factors, is important in strategic decision-making effort that affect the profitability of the closed loop supply chain. In this paper, we adopted an improved system dynamics methodology to tackle strategic issues that affect various performance measures, like market, time/cost, environment etc., for closed loop supply chains. After studying real life implementation issues in CLSC design, we presented guidelines for the PBM (Participative Business Modeling) methodology and presented its extension for the strategic dynamic system modeling of return chains. Finally, we demonstrated the measurement of operational performance by extending SD (system dynamic) application to closed loop supply chain management.

• Proceedings of the KIEE Conference
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• 2004.11b
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• pp.266-268
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• 2004

This paper presents the greenhouse gas emission trading scheme which is under progress as a pilot project at the power sector in preparation for UNFCCC. By referring UK's, Emission Trading is introduced incentive auction to maximize the reduction of greenhouse gas emission. At the 1st step, from year 2006 to 2008, only CO2 is regarded as an objective target to decrease but emission credit is excluded with an assumption and only 5 Generation company take part in as participants. The market operating procedure is composed of participants' registration, baseline verification, incentive auction, the registration of initial and yearly allocation, emission trading, yearly emission verification & approval, yearly obligation conformity, carry forward & incentive grant. It can be serve a guideline the whole aspects of emission trading which will start in 2006 including operation, verification and profit sharing.

• International Journal of Advanced Culture Technology
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• v.11 no.3
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• pp.199-204
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• 2023

"New Dimension Art" is an artistic concept of the new era that the author puts forward by combining the background, the artistic environment and the artistic market.It relates to the consciousness of thought, the way of feeling, the form of expression and even the style of language in artistic creation.The author expounds this concept of art.At the same time, this paper deeply studies the characteristics of "new dimension art" by analyzing personality and commonality, as well as the creator's personality transformation.The author hopes that he and more artists can create and express more accurately through this concept, so that his works can fully reflect the author's individual characteristics and release more dimensional field energy. We are confident that this paper will affect the area of painting in the future.

• Journal of Institute of Control, Robotics and Systems
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• v.20 no.2
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• pp.223-231
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• 2014

Humanoid robot is the most suitable robot platform for effective human interaction and various intelligent services. The present work addresses development of real time wireless control application of humanoid robot's forward and backward walks, and turning in walking. For convenience of human users, the application is developed on Android OS (Operating System) working on his or her smartphone. To this end, theoretic background on various-directional biped walking is proposed based on joint trajectories for forward walking, which have been shaped with a global optimization method. In this paper, backward walking is scheduled by interchange of angles and angular velocities and additional change of signs in angular velocities at all the via-points connecting cubic polynomial trajectories. Turning direction in walking is also implemented by activating the transversal hip joint initially located in the support leg in two stages. After validation of the proposed walking schemes with Matlab simulator, a smartphone application for the omnidirectional walking has been developed to control a humanoid robot platform named DARwIn-OP interconnected via Wi-Fi. Experiment result of the present wireless control of a humanoid robot with smartphone is successful, and the application will be released in application market near future.

• Journal of Digital Convergence
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• v.13 no.11
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• pp.45-55
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• 2015

This study used for KOSPI, KOSDAQ, entertainment culture and digital contents index that is related to cultural contents industry. There was investigated the each stock price index and return trends for a total 597 weeks to July 2015 from March 2004. They looked the content-related stocks about investment worth to comparative analysis the return, volatility, correlation, synchronization phenomena etc. of each stock index. When we saw the growth potential of the cultural contents industry forward, looked forward to the investment possibility of related stocks. Analysis Result cultural content related stocks showed a higher rate after the last 2008 global financial crisis. Recent as high interest in the cultural contents industry, we could see that the investment merit increases slowly. In the future, the cultural content industry is expected to continue to evolve. The increase of investments value in the cultural content related businesses is much expectation.

• Journal of the Korean Society of Clothing and Textiles
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• v.36 no.2
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• pp.179-193
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• 2012

The development of modern transportation technology has required many people in spaces (such as vehicle seats, airports, and train stations) for long periods. The public seats provided in these places are manufactured in a standard size; however, fatigue sets in if the seats are unsuitable for the person's physical size. For this reason, this study developed an air cushion vest that would enhance the comfort of vehicle seats. Passengers in vehicles, trains, airplanes, and buses were observed and surveyed to understand the demand for seat comfort. Our analysis found that the greatest source of discomfort was involuntary nodding of the head while asleep and discomfort around the waist area. For this reason, the air cushion vest was designed to support the head and the waist. The neck cushion of this vest was designed to strengthen head support to counter forward nodding because existing commercial neck cushions had no support for forward nodding. For the waist cushion, at lumbar and below-lumbar parts were chosen as the key parts to be supported, the cushion was designed to contain air at those parts. To cover the embedded waist cushion, the vest was designed to be long. The closure was constructed with zippers from the neck to waistline, and with invisible snaps from the waistline to the hemline so that the wearer could open them easily while seated. A subjective comfort evaluation was conducted to verify the effectiveness of the developed vest. In the test, the developed cushions received a better evaluation than cushions currently available on the market. The volume of the vest could be adjusted by the inflow and outflow of air. It was proven that the vest was effective in terms of comfort and portability. This shows that the developed vest could enhance passenger comfort while sitting on vehicle seats.

• The Journal of Fisheries Business Administration
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• v.52 no.4
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• pp.45-63
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• 2021

The purpose of this study is to analyze the structure, status and economic ripple effects of the fisheries processing industry in Korea using interindustry analysis. Five input-output tables published over the past twenty years have been reclassified with a focus on the fisheries processing sector. Through these multi-period tables, we analyzed changes in the inducing effects in production, value added and employment as well as the backward-forward linkage effects. As a result of the analysis, it was found that the industrial scale of the fisheries processing industry is very small compared to other food manufacturing industries. The backward linkage effect of the fisheries processing industry was greater than that of other industries, but the forward linkage effect was rather low. This means that the fisheries processing industry can be greatly affected by industrial depression of the downstream industries such as fishery and aquaculture. Production and employment-inducing effects of the fisheries processing industry have shown a decreasing trend in recent years. This reflects the reality that intermediate inputs are gradually being replaced by imports from domestic production due to the expansion of market opening and the depletion of fishery resource. In the future, it is necessary to prepare a strategy to increase the value-added productivity of the fisheries processing sector and foster it as an export industry.