• Korean Journal of Construction Engineering and Management
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• v.20 no.4
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• pp.22-33
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• 2019

The government has steadily revised and developed laws and systems for activating remodeling of apartments in response to the problems of aged apartments. However, despite such efforts, remodeling has yet to be activated. For many reasons, this study noted that there were no tools for reasonable profitability judgements and decision making in the preliminary stages of the remodeling project. Thus, the feasibility evaluation model was developed. Generally, the profitability judgements are made after the conceptual design. However, decisions to drive remodeling projects are made at the preliminary stage. So a feasibility evaluation model is required at the preliminary stage. Accordingly, In this study, a feasibility evaluation model was developed for determining preliminary stage profitability. Construction costs, business expenses, financial expenses, and generally sales revenue were calculated using the initial available information and remodeling variables derived through the existing cases. Through this process, we developed an algorithm that can give an overview of the return on investment. In addition, the preliminary stage feasibility evaluation model developed was applied to three cases to verify the applicability of the model. Although applied in three cases, the difference between the model's forecast and actual case values is less than 5%, which is considered highly applicable. If cases are expanded in the future, it will be a useful tool that can be used in actual work. The feasibility evaluation model developed in this study will support decision making by union members, and if the model is applied in different regions, it will be expected to help local governments to understand the size of possible remodeling projects.

• Journal of the Society of Disaster Information
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• v.18 no.1
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• pp.202-217
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• 2022

Purpose: The recent increased use of Personal Mobility (PM) has been accompanied by a rise in the annual number of accidents. Accordingly, the safety requirements for PM use are being strengthened, but the laws/systems, infrastructure, and management systems remain insufficient for fostering a safe environment. Therefore, this study comprehensively searches the main problems and improvement methods through a review of previous studies that are related to PM. Then the priorities according to the importance of the improvement methods are presented through the Delphi survey. Method: The research method is mainly composed of a literature study and an expert survey (Delphi survey). Prior research and improvement cases (local governments, government departments, companies, etc.) are reviewed to derive problems and improvements, and a problem/improvement classification table is created based on keywords. Based on the classification contents, an expert survey is conducted to derive a priority improvement plan. Result: The PM-related problems were in 'non-compliance with traffic laws, lack of knowledge, inexperienced operation, and lack of safety awareness' in relation to human factors, and 'device characteristics, road-drivable space, road facilities, parking facilities' in relation to physical factors. 'Management/supervision, product management, user management, education/training' as administrative factors and legal factors are divided into 'absence/sufficiency of law, confusion/duplication, reduced effectiveness'. Improvement tasks related to this include 'PM education/public relations, parking/return, road improvement, PM registration/management, insurance, safety standards, traffic standards, PM device safety, PM supplementary facilities, enforcement/management, dedicated organization, service providers, management system, and related laws/institutional improvement', and 42 detailed tasks are derived for these 14 core tasks. The results for the importance evaluation of detailed tasks show that the tasks with a high overall average for the evaluation items of cost, time, effect, urgency, and feasibility were 'strengthening crackdown/instruction activities, education publicity/campaign, truancy PM management, and clarification of traffic rules'. Conclusion: The PM market is experiencing gradual growth based on shared services and a safe environment for PM use must be ensured along with industrial revitalization. In this respect, this study seeks out the major problems and improvement plans related to PM from a comprehensive point of view and prioritizes the necessary improvement measures. Therefore, it can serve as a basis of data for future policy establishment. In the future, in-depth data supplementation will be required for each key improvement area for practical policy application.

• Land and Housing Review
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• v.14 no.4
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• pp.77-93
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• 2023

The COVID-19 pandemic has brought about significant social changes through government prevention and control measures, changes in people's risk perceptions, and lifestyle changes. In response, urban inhabitants changed their behaviors significantly, including their preferences for transportation modes and urban spaces in response to government quarantine policies and concerns over the potential risk of infection in urban spaces. These changes may have long-lasting effects on urban spaces beyond the COVID-19 pandemic or they may evolve and develop new forms. Therefore, this study aims to explore the potential for urban spaces to adapt to the present and future pandemics by examining changes in urban residents' preferences in travel modes and urban space use due to the COVID-19 pandemic. This study found that overall preferences for travel modes and urban spaces significantly differ between the pre-pandemic, pandemic, and post-pandemic periods. During the pandemic, preferences for travel modes and urban spaces has decreased, except for privately owned vehicles and green spaces, which are perceived to be safe from transmission, show more favorable than others. Post-pandemic preferences for travel modes and urban spaces are less favorable than pre-pandemic with urban spaces being five times less favorable than transportation. Although green spaces and medical facilities that were positively perceived during the pandemic are expected to return to the pre-pandemic preference level, other factors of urban spaces are facing a new-normal. The findings suggest that the COVID-19 pandemic has had a significant impact on urban residents' preferences for travel modes and urban space use. Understanding these changes is crucial for developing strategies to adapt to present and future pandemics and improve urban resilience.

• Journal of Intelligence and Information Systems
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• v.26 no.1
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• pp.135-149
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• 2020

Artificial intelligences are changing world. Financial market is also not an exception. Robo-Advisor is actively being developed, making up the weakness of traditional asset allocation methods and replacing the parts that are difficult for the traditional methods. It makes automated investment decisions with artificial intelligence algorithms and is used with various asset allocation models such as mean-variance model, Black-Litterman model and risk parity model. Risk parity model is a typical risk-based asset allocation model which is focused on the volatility of assets. It avoids investment risk structurally. So it has stability in the management of large size fund and it has been widely used in financial field. XGBoost model is a parallel tree-boosting method. It is an optimized gradient boosting model designed to be highly efficient and flexible. It not only makes billions of examples in limited memory environments but is also very fast to learn compared to traditional boosting methods. It is frequently used in various fields of data analysis and has a lot of advantages. So in this study, we propose a new asset allocation model that combines risk parity model and XGBoost machine learning model. This model uses XGBoost to predict the risk of assets and applies the predictive risk to the process of covariance estimation. There are estimated errors between the estimation period and the actual investment period because the optimized asset allocation model estimates the proportion of investments based on historical data. these estimated errors adversely affect the optimized portfolio performance. This study aims to improve the stability and portfolio performance of the model by predicting the volatility of the next investment period and reducing estimated errors of optimized asset allocation model. As a result, it narrows the gap between theory and practice and proposes a more advanced asset allocation model. In this study, we used the Korean stock market price data for a total of 17 years from 2003 to 2019 for the empirical test of the suggested model. The data sets are specifically composed of energy, finance, IT, industrial, material, telecommunication, utility, consumer, health care and staple sectors. We accumulated the value of prediction using moving-window method by 1,000 in-sample and 20 out-of-sample, so we produced a total of 154 rebalancing back-testing results. We analyzed portfolio performance in terms of cumulative rate of return and got a lot of sample data because of long period results. Comparing with traditional risk parity model, this experiment recorded improvements in both cumulative yield and reduction of estimated errors. The total cumulative return is 45.748%, about 5% higher than that of risk parity model and also the estimated errors are reduced in 9 out of 10 industry sectors. The reduction of estimated errors increases stability of the model and makes it easy to apply in practical investment. The results of the experiment showed improvement of portfolio performance by reducing the estimated errors of the optimized asset allocation model. Many financial models and asset allocation models are limited in practical investment because of the most fundamental question of whether the past characteristics of assets will continue into the future in the changing financial market. However, this study not only takes advantage of traditional asset allocation models, but also supplements the limitations of traditional methods and increases stability by predicting the risks of assets with the latest algorithm. There are various studies on parametric estimation methods to reduce the estimated errors in the portfolio optimization. We also suggested a new method to reduce estimated errors in optimized asset allocation model using machine learning. So this study is meaningful in that it proposes an advanced artificial intelligence asset allocation model for the fast-developing financial markets.

• The Journal of Fisheries Business Administration
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• v.34 no.2
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• pp.75-90
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• 2003

When we think of fundamental problems of the aquaculture industry, there are several strict conditions, and consequently the aquaculture industry is forced to change. Fish aquaculture has a structural supply surplus in production, aggravation of fishing grounds, stagnant low price due to recent recession, and drastic change of distribution circumstances. It is requested for us to initiate discussion on such issue as “how fish aquaculture establishes its status in the coastal fishery\ulcorner, will fish aquaculture grow in the future\ulcorner, and if so “how it will be restructured\ulcorner” The above issues can be observed in the mariculture of yellow tail, sea scallop and eel. But there have not been studied concerning seabream even though the production is over 30% of the total production of fish aquaculture in resent and it occupied an important status in the fish aquaculture. The objectives of this study is to forecast the future movement of sea bream aquaculture. The first goal of the study is to contribute to managerial and economic studies on the aquaculture industry. The second goal is to identify the factors influencing the competition between production areas and to identify the mechanisms involved. This study will examine the competitive power in individual producing area, its behavior, and its compulsory factors based on case study. Producing areas will be categorized according to following parameters : distance to market and availability of transportation, natural environment, the time of formation of producing areas (leaderㆍfollower), major production items, scale of business and producing areas, degree of organization in production and sales. As a factor in shaping the production area of sea bream aquaculture, natural conditions especially the water temperature is very important. Sea bream shows more active feeding and faster growth in areas located where the water temperature does not go below 13∼14$^{\circ}C$ during the winter. Also fish aquaculture is constrained by the transporting distance. Aquacultured yellowtail is a mass-produced and a mass-distributed item. It is sold a unit of cage and transported by ship. On the other hand, sea bream is sold in small amount in markets and transported by truck; so, the transportation cost is higher than yellow tail. Aquacultured sea bream has different product characteristics due to transport distance. We need to study live fish and fresh fish markets separately. Live fish was the original product form of aquacultured sea bream. Transportation of live fish has more constraints than the transportation of fresh fish. Death rate and distance are highly correlated. In addition, loading capacity of live fish is less than fresh fish. In the case of a 10 ton truck, live fish can only be loaded up to 1.5 tons. But, fresh fish which can be placed in a box can be loaded up to 5 to 6 tons. Because of this characteristics, live fish requires closer location to consumption area than fresh fish. In the consumption markets, the size of fresh fish is mainly 0.8 to 2kg.Live fish usually goes through auction, and quality is graded. Main purchaser comes from many small-sized restaurants, so a relatively small farmer and distributer can sell it. Aquacultured sea bream has been transacted as a fresh fish in GMS ,since 1993 when the price plummeted. Economies of scale works in case of fresh fish. The characteristics of fresh fish is as follows : As a large scale demander, General Merchandise Stores are the main purchasers of sea bream and the size of the fish is around 1.3kg. It mainly goes through negotiation. Aquacultured sea bream has been established as a representative food in General Merchandise Stores. GMS require stable and mass supply, consistent size, and low price. And Distribution of fresh fish is undertook by the large scale distributers, which can satisfy requirements of GMS. The market share in Tokyo Central Wholesale Market shows Mie Pref. is dominating in live fish. And Ehime Pref. is dominating in fresh fish. Ehime Pref. showed remarkable growth in 1990s. At present, the dealings of live fish is decreasing. However, the dealings of fresh fish is increasing in Tokyo Central Wholesale Market. The price of live fish is decreasing more than one of fresh fish. Even though Ehime Pref. has an ideal natural environment for sea bream aquaculture, its entry into sea bream aquaculture was late, because it was located at a further distance to consumers than the competing producing areas. However, Ehime Pref. became the number one producing areas through the sales of fresh fish in the 1990s. The production volume is almost 3 times the production volume of Mie Pref. which is the number two production area. More conversion from yellow tail aquaculture to sea bream aquaculture is taking place in Ehime Pref., because Kagosima Pref. has a better natural environment for yellow tail aquaculture. Transportation is worse than Mie Pref., but this region as a far-flung producing area makes up by increasing the business scale. Ehime Pref. increases the market share for fresh fish by creating demand from GMS. Ehime Pref. has developed market strategies such as a quick return at a small profit, a stable and mass supply and standardization in size. Ehime Pref. increases the market power by the capital of a large scale commission agent. Secondly Mie Pref. is close to markets and composed of small scale farmers. Mie Pref. switched to sea bream aquaculture early, because of the price decrease in aquacultured yellou tail and natural environmental problems. Mie Pref. had not changed until 1993 when the price of the sea bream plummeted. Because it had better natural environment and transportation. Mie Pref. has a suitable water temperature range required for sea bream aquaculture. However, the price of live sea bream continued to decline due to excessive production and economic recession. As a consequence, small scale farmers are faced with a market price below the average production cost in 1993. In such kind of situation, the small-sized and inefficient manager in Mie Pref. was obliged to withdraw from sea bream aquaculture. Kumamoto Pref. is located further from market sites and has an unsuitable nature environmental condition required for sea bream aquaculture. Although Kumamoto Pref. is trying to convert to the puffer fish aquaculture which requires different rearing techniques, aquaculture technique for puffer fish is not established yet.

• Management & Information Systems Review
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• v.36 no.1
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• pp.233-249
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• 2017

This study investigates the relation of managerial ability and firm performance in case of Chaebol in Korea. We employ non-financing firms at Korean markets for the period 2000-2015. Most important decision is made by the head of Chaebol which increases firm value eventually and he has such a strong dominant power that managers belongs to Chaebol have to follow mother firm's decision directions. So it is expected that managers belongs to Chaebol have to focus on long term performance rather than short term profits, which means they concentrate their managerial ability much on the firm value. Otherwise, managers in which non-Chaebol focus their ability on periodic accounting earnings. Thus, this study examines an empirical analysis on the relation of managerial ability and firm performance and the effect of Chaebol on the relation of managerial ability and firm performance. Empirical results are as follows: First, there exists a statistically significant positive relation between managerial ability and firm performance either short- or long-term. Second, we extend this relationship into Chaebol condition and find that managerial ability of Chaebol positively influences on the firm value which is long-term performance, rather than return on assets which is short-term performance. These results imply that managers belongs to Chaebol much concentrate their ability on long-term value which is differenciated from the case of non-Chaebol samples. Chaebol is an important issue in Korea because it dominates most of Korean local economy so its' impact from small changes on our economy is big enough. Our study examining the relationships between managerial ability of Chaebol and firm performance is meaningful and it is a good signal that they concentrate their ability much on the long-term value rather than short-term profits. We expect that the results of this study will provide the academic and practical references. This study will contribute to the future research in accounting through an analysis of managerial ability which is a new measure, Chaebol, and firm value.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.2
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• pp.85-96
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• 2015

Korea is one of low-ranked countries in women's economic participation rate among OECD nations because well-educated females are not participating in economic activities. Regardless of current state of our society, opening a business is being considered as a effective method for job creation. Also, increasing the number of female business founders can lead to female job creation which promotes even growth of foundation and job creation and augments women's economic activity rate. Therefore, this study suggests the direction of foundation and inspires foundation factors and aims at increasing social re-participation through vitalization of business foundation by women in career discontinuity. For this study, I carried out a survey targeting career interrupted women who have attained entrepreneurial education using five- point scale by Likert and analyzed with SPSS Windows 18.0. The analysis set up 3 hypotheses with independent variables of psychological traits, entrepreneurial education and entrepreneurial environment and the dependent variable of entrepreneurial intention of the career interrupted women. Also, I looked if there is the modify effect when psychological traits and entrepreneurial education affect the entrepreneurial intention with entrepreneurial environment as a moderating variable. To summarize the positive analysis result, Firstly, all psychological traits, entrepreneurial education and entrepreneurial environment had similar positive affects on career interrupted women's entrepreneurial intention. Secondly, when psychological traits and entrepreneurial education affect the entrepreneurial intention, entrepreneurial environment had similar effects as a moderating effect. This study implies that psychological traits, entrepreneurial education and entrepreneurial environment are all important for the career interrupted women's entrepreneurial intention. There are so many women who are going through both professional experience and personal network's severance. Therefore, optimized entrepre neurship education must be provided to help those women return to economic activity considering their psychological traits. Additionally, we should put emphasis on producing the entrepreneurial environment that can positively convert others' perceptions and construct those women's personal network. There seems to be more productive information for the strategies which can induce those women's actual business foundation if the social problems of the women who have highly willing to open a business are treated in the future. Also, considering that psychological traits, entrepreneurial education and entrepreneurial environment all have effect on entrepreneurial intentions, there should be more related follow-up study on this.

• The Korean Journal of Air & Space Law and Policy
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• v.35 no.2
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• pp.375-402
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• 2020

The adoption and entering into force of the Registration Convention was another achievement in expanding and strengthening the corpus iuris spatialis. It was the fourth treaty negotiated by the member states of the UNCOPUOS and it elaborates further Articles 5 and 8 of the Outer Space Treaty(OST). The Registration Convention also complements and strengthens the Article 11 of the OST, which stipulates an obligation of state parties to inform the UN Secretary-General of the nature, conduct, locations, and results of their space activities in order to promote international cooperation. The prevailing purposes of the Registration Convention is the clarification of "jurisdiction and control" as a comprehensive concept mentioned in Article 5 8 of the OST. In addition to its overriding objective, the Registration Convention also contributes to the promotion and the exploration and use of outer space for peaceful purposes. Establishing and maintaining a public register reduces the possibility of the existence of unidentified space objects and thereby lowers the risk such as, for example, putting the weapons of mass destruction secretly into orbit. And furthermore it could serve for a better space traffic management. The Registration Convention is a treaty established to implement Article 5 of OST for the rescue and return of astronaut in more detail. In this respect, if OST is a general law, the Registration Convention would be said to be in a special law. If two laws conflict the principle of lex specialis will be applied. Countries that have not joined the Registration Convention will have to follow the rules concerning the registration of paragraph 7 of the Declaration by the United Nations General Assembly resolution 1721 (X V I) in 1961. UN Resolution 1721 (XVI) is essentially non-binding, but appears to have evolved into the norm of customary international law requiring all States launching space objects into orbit or beyond to promptly provide information about their launchings for registration to the United Nations. However, the nature and scope of the information to be supplied is left to the discretion of the notifying State. The Registration Convention is a treaty created for compulsory registration of space objects by nations, but in reality it is a treaty that does not deviate from existing practice because it is based on voluntary registration. With the situation of dealing with new problems due to the commercialization and privatization of the space market, issues related to the definition of a 'space object', including matter of the registry state of new state that purchased space objects and space debris matter caused by the suspension of space objects launched by the registry state should be considered as matters when amendments, additional protocols or new Registration Convention are established. Also the question of registration of a flight vehicle in the commercial space market using a space vehicle traveling in a sub-orbital in a short time should be considered.

• Journal of Distribution Research
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• v.17 no.5
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• pp.129-146
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• 2012

Recently, Korea became the 7th country in the world which has got into the 20-50 clubs that means the population is 50 million and per capital income is $20,000. From the view point of the retail industry, it suggests that Korea should have its own self-sufficient market by itself. With abundant labor and increased disposable income, it made the consumer's needs change. Responding to the change, retail and F&B oriented retail malls are now starting to add culture, art and entertainment facilities in the configurations. Such complexity and variety of the shopping malls became trendy and many shopping complexes are scheduled to open in the near future across the country. Due to above reasons, it became the common trend to develop shopping complex all over the cities now. However, the history of the shopping mall in Korea is much shorter than developed countries such as America and Japan. Thereby, a lot of problems, trial and error have occurred in the process of developing and operating them. If development of shopping complex failed, it would return lots of damages to the stakeholder. Therefore, the corporations should develop the mall properly and government might support positively. In this study, we would like to propose on how all the mall should be developed and well managed and what are the ways for the vitalizing factors of the shopping complex after benchmarking other shopping mall cases. Through the case study, we realized that the most crucial factors for vitalizing shopping complex were interior design, merchandising and how well they operate the mall. In case of the failed shopping mall, developers sell each store to individual proprietors and never take care of them after they get the profit, which make it hard to have integrated marketing strategies. That causes the overall slump of the mall. Corporations developing the mall should operate it as well, so that it could be possible to make the mall consistently well managed and promoted. There is a certificate for the shopping mall expert in The States and Japan. However, we do not have this kind of certificate. In fact, if we judge the capability of a person who is involved in the shopping mall industry, we usually measure how many years they stick to the same industries and that is not equally the same as their competence. Therefore it is necessary to organize "Shopping Mall Associate" and introduce shopping mall license for the mall expert. Due to retail trends, we can easily see a lot of shopping facilities all over the cities but not every mall is able to be successful. We think it's essential that the government should certify the malls which are qualified for the design, merchandising and proficiency of the operation. For the qualified mall, the government could confer a benefit on the company such as reducing corporation taxes. In multi-complex shopping mall it is possible to make convenient for customers. However, if a mall failed to succeed, it would be disaster. To build a shopping complex, developers should invest huge money even take out loan so that many people would be connected to the project, which may affect their whole financial conditions. In addition, only qualified corporation should develop and operate shopping complex and the government must support and aid the developers in order to make a better shopping environment in which customers might be happy during their shopping experience.

• Journal of Global Scholars of Marketing Science
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• v.20 no.1
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• pp.70-79
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• 2010

There has been some research conducted that addressed immoral consumer behaviors in Korea; however, most of this research focused on purchasing counterfeits or shoplifting. High return rates of apparel and used apparel returns have been acknowledged as problem areas within the fashion industry. However, very few researchers have addressed this issue. Therefore, the goal of this research was to explore consumer's retail borrowing experience using a mixed methods approach. In study 1 Korean consumer's retail borrowing experiences was explored through focus group interviews. Findings informed study 2 an examination of apparel consumers' attitudes toward retail borrowing behavior via an online survey. Findings assist both researchers' and practitioners' understanding of retail borrowing behaviors and provide insight into retail borrowing issues in the apparel retail industry. For study 1, five focus-group interviews were conducted with seven panels of individuals that had retail borrowing experience within the past year. Thirty-five Korean consumers who lived in a metropolitan area participated in the focus group interviews. Most of consumers were in their 20's (n=21) and were women (n=24). Most participants purchased apparel items from a retail store and returned the worn items for either a full refund or exchanged the worn item for another item. Motives underlying retail borrowing behavior included social needs, job-related needs, fashion needs, and "smart shopping." Similar to existing research findings from other countries, social needs were the most frequently mentioned cause of retail borrowing in fashion stores. Consumers' moral values, attitude toward large corporations, and prior retail borrowing experience were mentioned as possible factors affecting consumers' retail borrowing behavior. For study 2, the questionnaire used to gather the data was developed based on the findings of part I and existing research. Questions concerning consumers' moral beliefs, sensation seeking tendencies, self-worth, past retail job experience, retail borrowing experience, and some demographic characteristics were included in the questionnaire. The data were collected via an online survey using an online panel provided by a commercial online research company located in Seoul, Korea. In order to obtain various consumers, a quota sample was (male: female=1:1, 20's:30's:40's=1:1:1, retail experience: no retail experience=1:3) obtained from the company. A total of 401 consumers who had shopped for apparel items during the prior 6 months participated in the online survey. The results indicated that 19.7% of the respondents reported they had experience borrowing fashion merchandise. Among these individuals, male borrowers (57%) outnumbered female borrowers. In terms of age distribution, x2 revealed that there was a statistical difference between respondents with and without retail borrowing experiences: 41.8% of the respondents with retail borrowing experience were in their 40's, while respondents without retail borrowing experience were evenly distributed between their 20's to 40's. There was also a significant difference between respondents with and without retail borrowing experience in terms of income: respondents with retail borrowing experience tended to have higher incomes than those without retail borrowing experience. T-tests were performed to compare respondents' fashion shopping behavior, moral beliefs, sensation-seeking tendencies, and attitudes toward retail borrowing behavior between participants with and without retail borrowing experience. As compared to those with no borrowing experience, respondents with experience tended to shop for fashion items more frequently and spent more on shopping for fashion items. Consumers with experience borrowing tended to have higher sensation-seeking tendencies than consumers without retail borrowing experience. A regression analysis revealed that attitudes toward fashion retail borrowing were negatively related to consumers' moral beliefs, but positively related to monthly fashion shopping frequency, sensation-seeking tendencies, and past fashion retail borrowing experience. Among these variables, past retail borrowing experience was the most significant predictor, followed by moral beliefs. This research serves as an initial attempt to address the motives that underlie retail borrowing behaviors and the factors affecting those behaviors. The findings of this study may facilitate an understanding of the consumer's retail borrowing, which will provide a basis for approaches that may help decrease retail borrowing and inappropriate returns at fashion retail stores. The findings may also provide materials for consumer education over the long term. In order to better understand fashion retail borrowing behavior, more research is needed in the future.