• The Korean Journal of Financial Management
• /
• v.26 no.4
• /
• pp.191-234
• /
• 2009

This study examined on the volatility feedback hypothesis through the use of threshold GARCH-in-Mean (GJR-GARCH-M) model developed by Glosten, Jaganathan, and Runkle (1993) in the stock markets of 14 emerging countries during the period of January, 1996 to May, 2009. On this study, I found successful evidences which can support the volatility feedback hypothesis through the following three estimation procedures. First, I found relatively strong positive relationship between the expected market risk premiums and their conditional standard deviations from the GARCH-M model in the basis of daily return on each representative stock market index, which is appropriate to investors' risk-averse preferences. Second, I can also identify the significant asymmetric time-varying volatility originated from the investors' differentiated reactions toward the unexpected market shocks by applying the GJR-GARCH-M model and further find the lasting positive risk aversion coefficient estimators. Third, I derived the negative signs of the regression coefficient of unpredicted volatility on the stock market return by re-applying the GJR-GARCH-M model after I controlled the positive effect of predicted volatility through including the conditional standard deviations from the previous GARCH-M model estimation as an independent explanatory variable in the re-applied new GJR-GARCH-M model. With these consecutive results, the volatility feedback effect was successfully tested to be effective also in the various emerging stock markets, although the leverage hypothesis turned out to be insufficient to be applied to another source of explaining the negative relationship between the unexpected volatility and the ex-post stock market return in the emerging countries in general.

• Journal of Korean Society of Coastal and Ocean Engineers
• /
• v.28 no.6
• /
• pp.375-382
• /
• 2016

In the present study, the wave hindcasting has been performed, and then the characteristics of storm waves at Gangnueng port was investigated, in which the high waves are observed. Comparing the numerical results with the wave measurements at Gangneung port, Niigata, and Hamada, there were good agreements between them. In particular, the Pearson correlation coefficients of significant wave heights and peak periods at Gangneung port were 0.92 and 0.72, respectively. Then the extreme wave analysis on the significant wave heights was carried out for the estimation of the frequency of storm waves. In this analysis, the storm waves over the threshold were fitted to GPD(Generalized Pareto Distribution). According to this analysis, the return period of the storm wave on February, 24, 2008, one of the large storm waves at Gangneung port, was 8.2 months. Among the computed significant wave heights larger than one-year wave, 58.3% of them were resulted from the storm, while the others were from the typhoon. Additionally, the regression analysis on the waves larger than one-month wave has been conducted, and then the relationship between the computed significant wave heights and the significant wave period, $T_{1/3}=7H_s^{0.25}$ was obtained.

• The Korean Journal of Air & Space Law and Policy
• /
• v.22 no.2
• /
• pp.27-51
• /
• 2007

The cumulative result of the work by the ICAO Secretariat, the Secretariat Study Group and the Council Special Group on the Modernization of the Rome Convention of 1952 are two draft Conventions, namely: "Draft Convention on Compensation for Damage Caused by Aircraft to Third Parties, in case of Unlawful Interference", and "Draft Convention on Compensation for Damage Caused by Aircraft to Third Parties" The core provisions of the former draft Convention are as follows: The liability of the operator is strict, that is, without the necessity of proof of fault. It would be liable for damage sustained by third parties on condition only that the damage was caused by an aircraft in flight(Article 3). However, such liability is caped based on the weight of the aircraft(Article 4). It is envisaged to create an independent organization called the Supplementary Compensation Mechanism, with the principle purpose to pay compensation to persons suffering damage in the territory of a State Party, and to provide financial support(Article 8). Compensation shall be paid by the SCM to the extent that the total amount of damages exceeds the Article 4 limits(Article 19). The main issues on the farmer draft Convention are relating to breaking away from Montreal Convention 1999, no limits on individual claims but a global limitation on air carrier liability, insurance coverage, cap of operators' strict liability, and Supplementary Compensation Mechanism. The core provisions of the latter draft Convention are as follows: the liability of the operator is strict, up to a certain threshold tentatively set at 250,000 to 500,000 SDRs. Beyond that, the operator is liable for all damages unless it proves that such damage were not due to its negligence or that the damages were solely due to the negligence of another person(Article 3). The provisions relating to the SCM and compensation thereunder do not operate under this Convention, as the operator is potentially for the full amount of damages caused. The main issues on the latter draft Convention are relating to liability limit of operator, and definition of general risks. In conclusion, we urge ICAO to move forward expeditiously on the draft Convention to establish a third party liability and compensation system that can stand ready to protect both third party victims and the aviation industry before another 9/11-scale event occurs.

• The Journal of The Korea Institute of Intelligent Transport Systems
• /
• v.18 no.2
• /
• pp.58-76
• /
• 2019

As the number of reported injuries has tended to increase over time, large hospitalization expenditure from excessive medical treatments and hospitalization, and insurance frauds associated with moral hazard in minor collisions have caused a global societal problem. Many occupants of rear-ended vehicles involved in rear-end collisions complain of whiplash injury, which is also known as neck injury, without any anatomical and radiological evidence. With only clinical symptoms, stating that a whiplash injury is a type of injury defined by the Abbreviated Injury Scale would be difficult. Therefore, this study focuses on minor rear-end collisions, where the rear-ender vehicle collides with the rear-ended vehicle at rest. The mathematics dynamic model is employed to simulate a total of 100 rear-end collision scenarios based on various weights and collision speeds and identify how the weights and speeds of both vehicles influence the risk of whiplash injury in occupants involved in minor rear-end collisions. The possibility of an injury is very high when the same-weight vehicles are involved in accidents at collision speeds of 15 km/h or higher. The possibilities are 36% and 84% with collision speeds of 15 km/h and 20 km/h, respectively, if weights are disregarded.

• Journal of the Korean Society of Marine Environment & Safety
• /
• v.27 no.1
• /
• pp.47-52
• /
• 2021

Recently, the share of wind power in energy markets has sharply increased with the active development of renewable energy internationally. In particular, large-scale wind farms are being developed far from the coast to make use of abundant wind resources and to reduce noise pollution. In addition to the electromagnetic interference (EMI) caused by offshore wind farms to coastal or air surveillance radars, it is necessary to investigate the EMI on global maritime distress and safety system (GMDSS) communications between ship and coastal stations. For this purpose, this study investigates whether the transmitted field of MF/HF band from a ship would be subject to interference or attenuation below the threshold at a coastal receiver. First, using geographic information system digital maps and 3D CAD models of wind turbines, the area of interest is electromagnetically modeled with patch models. Although high frequency analysis methods like Physical Optics are appropriate to analyze wide areas compared to its wavelength, the high frequency analysis method is first verified with an accurate low frequency analysis method by simplifying the surrounding area and turbines. As a result, the received wave power is almost the same regardless of whether the wind farms are located between ships and coastal stations. From this result, although wind turbines are large structures, the size is only a few wavelengths, so it does not interfere with the electric field of MF/HF distress communications.

• Korean Journal of Remote Sensing
• /
• v.38 no.5_3
• /
• pp.901-912
• /
• 2022

The frequency of disasters is increasing due to global climate change, and unusual heavy rains and rainy seasons are occurring in Korea. Periodic monitoring and rapid detection are important because these weather conditions can lead to drought and flooding, causing secondary damage. Although research using optical images is continuously being conducted to determine the waterbody, there is a limitation in that it is difficult to detect due to the influence of clouds in order to detect floods that accompany heavy rain. Therefore, there is a need for research using synthetic aperture radar (SAR) that can be observed regardless of day or night in all weather. In this study, using Sentinel-1 SAR images that can be collected in near-real time as open data, the UNet model among deep learning algorithms that have recently been used in various fields was applied. In previous studies, waterbody detection studies using SAR images and deep learning algorithms are being conducted, but only a small number of studies have been conducted in Korea. In this study, to determine the applicability of deep learning of SAR images, UNet and the existing algorithm thresholding method were compared, and five indices and Sentinel-2 normalized difference water index (NDWI) were evaluated. As a result of evaluating the accuracy with intersect of union (IoU), it was confirmed that UNet has high accuracy with 0.894 for UNet and 0.699 for threshold method. Through this study, the applicability of deep learning-based SAR images was confirmed, and if high-resolution SAR images and deep learning algorithms are applied, it is expected that periodic and accurate waterbody change detection will be possible in Korea.

• Journal of Biomedical Engineering Research
• /
• v.44 no.6
• /
• pp.363-376
• /
• 2023

According to the COVID-19, development of various medical software based on IoT(Internet of Things) was accelerated. Especially, interest in a central software system that can remotely monitor and control ventilators is increasing to solve problems related to the continuous increase in severe COVID-19 patients. Since medical device software is closely related to human life, this study aims to develop central monitoring system that can remotely monitor and control multiple ventilators in compliance with medical device software development standards and to verify performance of system. In addition, to ensure the safety and reliability of this central monitoring system, this study also specifies risk management requirements that can identify hazardous situations and evaluate potential hazards and confirms the implementation of cybersecurity to protect against potential cyber threats, which can have serious consequences for patient safety. As a result, we obtained medical device software manufacturing certificates from MFDS(Ministry of Food and Drug Safety) through technical documents about performance verification, risk management and cybersecurity application.The purpose of this study is to conduct a usability assessment to ensure that ergonomic design has been applied so that the ventilator central monitoring system can improve user satisfaction, efficiency, and safety. The rapid spread of COVID-19, which began in 2019, caused significant damage global medical system. In this situation, the need for a system to monitor multiple patients with ventilators was highlighted as a solution for various problems. Since medical device software is closely related to human life, ensuring their safety and satisfaction is important before their actual deployment in the field. In this study, a total of 21 participants consisting of respiratory staffs conducted usability test according to the use scenarios in the simulated use environment. Nine use scenarios were conducted to derive an average task success rate and opinions on user interface were collected through five-point Likert scale satisfaction evaluation and questionnaire. Participants conducted a total of nine use scenario tasks with an average success rate of 93% and five-point Likert scale satisfaction survey showed a high satisfaction result of 4.7 points on average. Users evaluated that the device would be useful for effectively managing multiple patients with ventilators. However, improvements are required for interfaces associated with task that do not exceed the threshold for task success rate. In addition, even medical devices with sufficient safety and efficiency cannot guarantee absolute safety, so it is suggested to continuously evaluate user feedback even after introducing them to the actual site.

• Journal of The Korean Society of Grassland and Forage Science
• /
• v.44 no.2
• /
• pp.71-82
• /
• 2024

It would be advantageous to grow legume forage crops in order to increase the productivity and sustainability of sloped croplands in Hamkyongbukdo. In particular, the identification of potential cultivation areas for alfalfa in the given region could aid decision-making on policies and management related to forage crop production in the future. This study aimed to analyze the climate suitability of alfalfa in Hamkyongbukdo under current and future climate conditions using the Fuzzy Union model. The climate suitability predicted by the Fuzzy Union model was compared with the actual alfalfa cultivation area in the northern United States. Climate data obtained from 11 global climate models were used as input data for calculation of climate suitability in the study region to examine the uncertainty of projections under future climate conditions. The area where the climate suitability index was greater than a threshold value (22.6) explained about 44% of the variation in actual alfalfa cultivation areas by state in the northern United States. The climatic suitability of alfalfa was projected to decrease in most areas of Hamkyongbukdo under future climate scenarios. The climatic suitability in Onseong and Gyeongwon County was analyzed to be over 88 in the current climate conditions. However, it was projected to decrease by about 66% in the given areas by the 2090s. Our study illustrated that the impact of climate change on suitable cultivation areas was highly variable when different climate data were used as inputs to the Fuzzy Union model. Still, the ensemble of the climate suitability projections for alfalfa was projected to decrease considerably due to summer depression in Hamkyongbukdo. It would be advantageous to predict suitable cultivation areas by adding soil conditions or to predict the climate suitability of other leguminous crops such as hairy vetch, which merits further studies.

• Korean Journal of Agricultural and Forest Meteorology
• /
• v.5 no.2
• /
• pp.70-80
• /
• 2003

We report the first direct measurement of $CO_2$ flux over Kwangneung broadleaf deciduous forest, one of the tower flux sites in KoFlux network. Eddy covariance system was installed on a 30 m tower along with other meteorological instruments from June to August in 2002. Although the study site was non-ideal (with valley-like terrain), turbulence characteristics from limited wind directions (i.e., 90$\pm$45$^{\circ}$) was not significantly different from those obtained at simple, homogeneous terrains with an ideal fetch. Despite very low rate of data retrieval, preliminary results from our analysis are encouraging and worthy of further investigation. Ignoring the role of advection terms, the averaged net ecosystem exchange (NEE) of $CO_2$ ranged from -1.2 to 0.7 mg m$^{-2}$ s$^{-1}$ from June to August in 2002. The effect of weak turbulence on nocturnal NEE was examined in terms of friction velocity (u*) along with the estimation of storage term. The effect of low uf u* NEE was obvious with a threshold value of about 0.2 m s$^{-1}$ . The contribution of storage term to nocturnal NEE was insignificant; suggesting that the $CO_2$ stored within the forest canopy at night was probably removed by the drainage flow along the hilly terrain. This could be also an artifact of uncertainty in calculations of storage term based on a single-level concentration. The hyperbolic light response curves explained ＞80% of variation in the observed NEE, indicating that $CO_2$ exchange at the site was notably light-dependent. Such a relationship can be used effectively in filling up the missing gaps in NEE data through the season. Finally, a simple scaling analysis based on a linear flow model suggested that advection might play a significant role in NEE evaluation at this site.

• The Korean Journal of Nuclear Medicine
• /
• v.34 no.4
• /
• pp.322-335
• /
• 2000

Purpose: For quantitative estimation of cerebrovascular reserve (CVR), we estimated the cerebral blood flow (CBF) using Lassen's nonlinearity correction algorithm and Tc-99m HMPAO brain SPECT images acquired with consecutive acquisition protocol. Using the values of CBF in basal and acetaBolamide (ACZ) stress states, CBF increase was calculated. Materials and Methods: In 9 normal subjects (age; $72{\pm}4$ years), brain SPECT was performed at basal and ACZ stress states consecutively after injection of 555 MBq and 1,110 MBq of Tc-99m HMPAO, respectively. Cerebellum was automatically extracted as reference region on basal SPECT image using threshold method. Assuming basal CBF of cerebellum as 55 ml/100g/min, CBF was calculated lot every pixel at basal states using Lassen's algorithm. Cerebellar blood flow at stress was estimated comparing counts of cerebellum at rest and ACZ stress and Lassen's algorithm. CBF of every pixel at ACZ stress state was calculated using Lassen's algorithm and ACZ cerebellar count. CVR was calculated by subtracting basal CBF from ACZ stress CBF for every pixel. The percent CVR was calculated by dividing CVR by basal CBF. The CBF and percentage CVR parametric images were generated. Results: The CBF and percentage CVR parametric images were obtained successfully in all the subjects. Global mean CBF were $49.6{\pm}5.5ml/100g/min\;and\;64.4{\pm}10.2ml/100g/min$ at basal and ACZ stress states, respectively. The increase of CBF at ACZ stress state was $14.7{\pm}9.6ml/100g/min$. The global mean percent CVR was 30.7% and was higher than the 13.8% calculated using count images. Conclusion: The blood flow at basal and ACZ stress states and cerebrovascular reserve were estimated using basal/ACZ Tc-99m-HMPAO SPECT images and Lassen's algorithm. Using these values, parametric images for blood flow and cerebrovascular reserve were generated.