• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.37 no.3
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• pp.37-48
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• 2019

This study, which starting from Yangyang Jukdo's topography formation and questioning revealed in landscape guide and landscape commentary board, is to sort out the characteristics of Jukdo natural landscape through literature research, field observation research and stakeholder interview as part of the proper recognition of Jokdo landscape and search for landscape resources, and pursued a review of nominations and criticism. The results of this study are summarized as follows. Yangyang Jukdo is an island named because it was full of blue bamboo. From before the first half of the 14th Century. to the middle of the 18th Century., there was a Gwanlan-pavilion to see the sea and the bamboo in the west. The time when the original island, the Jukdo, have been a land-tied island connected with the land by the tombolo formed by the erosion of the sand. It is located at the end of the 14th Century. and before the middle of the 18th Century. In Jukdo, colorful weathered terrains, coastal terrain, and structural terrain formed by long-time weathering are found. Among them, the type of weathering, the tafoni style and the gnamma style are the scenic landscapes with the key stories of legend and poetry that are brought to Jukdo. In addition, there are seven kinds of letters caved in the rocks in Jukdo. The rocks found on the coast, basketball cannons, shrines, and sutras are seen as shrouds based on a Taoist hermit motifs and style. In addition, it can be interred from the photography of "jeongssisejeog" that the souvenir of Jukdo was the family of Chogyejeong of mid 18th Century. In terms of observational geography and poetry, Jukdo has been handed down a great deal of missionary color with key motifs such as 'Jukdo-seongoo', 'Jukdo-Dolgooyoo', or 'Stone mortar of Taoist hermit' It is proved that the pearl which is called 'The stone of the Taoist hermit' is a porthole formed in a separate space rather than the topography of the geomorphology in terms of shape, size and function. Currently named Shun-tang is a product of the ridiculous 'naming' of interest. The present landscape guide and commentary is not only incompatible with the place of Jukdo, but also does not match the traditional cultural landscape. Future scenery information such as guide signs and commentary boards should be improved in the direction of positively highlighting the stories and motifs related to the present that are present in order to enhance the landscape identity of Yangyang Jukdo.

• Korean Journal of Ichthyology
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• v.12 no.2
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• pp.137-145
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• 2000

The embryonic and larval development of Chelon lauvergnii (Eydoux & Souleyet) was surveyed by incubating artificially inseminated eggs with parent fishes obtained at Kang-wha island in the mid-western coastal area of Korea on June, 1997. The fertilized eggs were transparent, spherical in shape, measuring 0.95~1.08 mm in diameter, having a large oil globule, and their perivitelline space narrow, and began to hatch at 40 hrs. in water temperature $22{\pm}1^{\circ}C$. The newly hatched larvae were 2.35~2.68 mm in total length with 23 myomeres, anus opened, mouth closed, preanal length 58.7~61.6% of total length, oil globule located in posterior end of yolk sac. Melanophores, branch in shape, were distributed mainly along the ventro-lateral region of trunk part and a few on the anterior end of caudal part and surface of oil globule. The larvae measuring 3.08~3.36 mm in total length absorbed yolk material completely in 3 days after hatching, in which air bladder began to appear and mouth opened. In 8 days after hatching, the larva was measured 5.09 mm in total length, its posterior end of notochord began to flex upward and the caudal fin rays differentiated as 7, finfold of the second dorsal and anal fins appeared. In this time, melanophores, branch in shape, were concentrated in the anterior half region of the caudal part and a few also distributed on the top of head, snout region, ventral margin of lower jaw and isthmus region. In 12 days after hatching, the larva measuring 8.48 mm in total length completed all the fins (D. IV-9; P1. 16; P2. I, 5; A. II, 9) and reached to the juvenile stage. Melanophores, in this time, were distributed on the mid-lateral region of the caudal part in enlargment than before and a few also found in the dorso-lateral region of the trunk part, and in the cheek region.

• Journal of Intelligence and Information Systems
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• v.22 no.4
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• pp.177-192
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• 2016

Machine learning is a field of artificial intelligence. It refers to an area of computer science related to providing machines the ability to perform their own data analysis, decision making and forecasting. For example, one of the representative machine learning models is artificial neural network, which is a statistical learning algorithm inspired by the neural network structure of biology. In addition, there are other machine learning models such as decision tree model, naive bayes model and SVM(support vector machine) model. Among the machine learning models, we use SVM model in this study because it is mainly used for classification and regression analysis that fits well to our study. The core principle of SVM is to find a reasonable hyperplane that distinguishes different group in the data space. Given information about the data in any two groups, the SVM model judges to which group the new data belongs based on the hyperplane obtained from the given data set. Thus, the more the amount of meaningful data, the better the machine learning ability. In recent years, many financial experts have focused on machine learning, seeing the possibility of combining with machine learning and the financial field where vast amounts of financial data exist. Machine learning techniques have been proved to be powerful in describing the non-stationary and chaotic stock price dynamics. A lot of researches have been successfully conducted on forecasting of stock prices using machine learning algorithms. Recently, financial companies have begun to provide Robo-Advisor service, a compound word of Robot and Advisor, which can perform various financial tasks through advanced algorithms using rapidly changing huge amount of data. Robo-Adviser's main task is to advise the investors about the investor's personal investment propensity and to provide the service to manage the portfolio automatically. In this study, we propose a method of forecasting the Korean volatility index, VKOSPI, using the SVM model, which is one of the machine learning methods, and applying it to real option trading to increase the trading performance. VKOSPI is a measure of the future volatility of the KOSPI 200 index based on KOSPI 200 index option prices. VKOSPI is similar to the VIX index, which is based on S&P 500 option price in the United States. The Korea Exchange(KRX) calculates and announce the real-time VKOSPI index. VKOSPI is the same as the usual volatility and affects the option prices. The direction of VKOSPI and option prices show positive relation regardless of the option type (call and put options with various striking prices). If the volatility increases, all of the call and put option premium increases because the probability of the option's exercise possibility increases. The investor can know the rising value of the option price with respect to the volatility rising value in real time through Vega, a Black-Scholes's measurement index of an option's sensitivity to changes in the volatility. Therefore, accurate forecasting of VKOSPI movements is one of the important factors that can generate profit in option trading. In this study, we verified through real option data that the accurate forecast of VKOSPI is able to make a big profit in real option trading. To the best of our knowledge, there have been no studies on the idea of predicting the direction of VKOSPI based on machine learning and introducing the idea of applying it to actual option trading. In this study predicted daily VKOSPI changes through SVM model and then made intraday option strangle position, which gives profit as option prices reduce, only when VKOSPI is expected to decline during daytime. We analyzed the results and tested whether it is applicable to real option trading based on SVM's prediction. The results showed the prediction accuracy of VKOSPI was 57.83% on average, and the number of position entry times was 43.2 times, which is less than half of the benchmark (100 times). A small number of trading is an indicator of trading efficiency. In addition, the experiment proved that the trading performance was significantly higher than the benchmark.

• Trans-
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• v.8
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• pp.95-127
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• 2020

This research is based on using Bartenieff Fundamentals to analyze the fundamentals of Tai Chi Chuan's movements in order to develop the methods of relaxation from Tai Chi Chuan's principle movement movements It also shows that the two techniques have commonalities in many ways. First of all, taking a philosophical approach on the body movements of Tai Chi Chuan and Bartenieff, for both methods the ultimate goal is the integration of mind and body. In other words, there is a thread of connection between the East's body and mind monism and the west's Body Awareness. Secondly, looking at it from a Breath Support standpoint as used in the Bartenieff method, the two methods both use the breathing to naturally move the body and relax the body. In Tai Chi Chuan the Breath is the basis of life and the strength of the Body. So the breathing of Tai Chi chuan is what makes body and mind communicate, harmonize and integrate. In other words, Breathing in Tai Chi is realized through mental fusion and affects the movements. This is the same as the Breath Support of Bartenieff. It is said that in every aspect the Breath Support of Bartenieff influences the movement and changes both the inner and outer form of the body. Thirdly, looking at the Core Support used in the Bartenieff method, both methods emphasize core. At the same time of moving and being conscious of one's core, the usage of muscles can be deeper rather than superficial and this enables strong and flexible movement. In Tai Chi Chuan abdominal muscles used when one coughs are consciously engaged through abdominal breathing and so strength is collected in the core. When one exercises like that the core becomes more stable and breathing becomes more smooth. Fourthly, analyzing the Rotary Factor used in the Bartenieff Fundamentals, they both use rotary movement to reach the goal of physical relaxation. The rotation factor of Bartenieff allows movement to be easier and more free because of the characteristic of joint exercise where the center axis moved in three dimensions, this is the same in Tai Chi chuan. According to Tai Chi chuan's circle and Spiral Movements, it can achieve the relaxation through switching into a seamless flow and access space as much as possible. Finally, when looking at Developmental Patterning through Bonnie Bainbridge Cohen's Body-Mind Centering Work theory, presented from Bartenieff developmental model are similar with the developmental process of Tai Chi chuan Breath, Core-Distal Connectivity/Navel Radiation, Head-Tail Connectivity/Spinal Movement, Upper-Lower Connectivity/Homologous, Body-Half Connectivity/Homo-Lateral Connectivity, Cross-Lateral Connectivity/Contra-Lateral Connectivity. They are all similar. In other words, in Tai Chi Chuan energy is gathered in the core through breathing, upper and lower body are connected through the spine, not only homo-laterally but also cross-laterally. Through this study the expression of the dance movements can be more natural. Additionally based on the Body Awareness balance usage of the central axis, joints and body can develop the relax technique.

• Korea Science and Art Forum
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• v.37 no.2
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• pp.239-250
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• 2019

Along with changes in the industrial structure, revitalizing decrepit or abandoned industrial-age infrastructures are actively under way on a global scale. This study was motivated by an interest in investigating currently idle industrial infrastructures and revitalizing the abandoned passenger ferry terminal in Geoje's Jangseungpo and surrounding areas. The main aims of this study were to examine regional features for the purpose of establishing urban renewal plans and field opinions of the local residents on how to proceed with the restoration of the passenger ferry terminal. To this end, this paper looked into previous case studies of converting decrepit industrial infrastructures into new cultural venues, depending on each region's special circumstances. This paper's findings are as follows: First, as a result of this investigation, the author found that in all cases in Korea and elsewhere revitalization focused on creating modern cultural spaces appropriate for the region while retaining its traditional value. At the same time, they sought sustainable cultural and economic revival. Second, as a result of the investigation on Geoje City's local characteristics, the author found that the surrounding areas' commercial districts were depressed after the terminal's closure. At the time of the investigation, the city government was trying to reopen the terminal as a major port offering multiple international ferry destinations while attracting tourists. Third, as a result of the surveys on the local residents, it was found that more than half of the residents were in agreement with the city government's plan to reopen the terminal and expressed their wishes that they want the terminal to have other uses such as cultural venues. Based on these research results, the author makes proposals, including expanding the passenger ferry terminal and offering cultural spaces within and near the terminal, based on the local residents' opinions and in reflection of local circumstances. As part of this effort, the author also recommends a new brand name and design plan for the new passenger ferry terminal so that Geoje City can improve its local community value.

• (The)Study of the Eastern Classic
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• no.49
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• pp.357-392
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• 2012

An author is bound to reflect his or her own thinking and inclination in his or her works. The previous studies on Changam(蒼巖), however, mostly discussed the aesthetics in the forms of his introductions and works, hardly addressing his thinking reflected in his works. Recognizing that he had the "reactionism tendency" unlike the Bukhak-School(北學派), which was the cultural mainstream of the days, this study examined the specific patterns of the reactionism calligraphy style in his learning and calligraphy processes and works. He loved to write xing-cao-shu(行草書) with a focus on the materials written in one's own calligraphy, but he also emphasized that one should obtain the force of his or her calligraphy style by mastering kai shu before calligraphy xing cao shu. He thus left a lot of works in the xiao kai(小楷) of the Wang Xzhi(王羲之) calligraphy style throughout his life, which is attributed to the influences of the calligraphers of dong-guk-jin-che(東國眞體) in the latter half of Joseon(朝鮮) and those of Lee Gwang-sa(李匡師), his master in spirit. He is distinguished from the other calligraphers of the times in that he made lifelong efforts to compensate for the lacking stroke of the pen in the model calligraphy of Wang Xzhi. In the calligraphy theory, he put importance on the traditional method of Han-Wei(漢魏) and took Cai Yong(蔡邕) and Zhong Yao(鍾繇) as the fundamentals. For da kai(大楷), he constantly practiced the with the stroke of the pen by added to it, the letters of Wei(魏) Wudi(武帝), by Yan Zhenqing(顔眞卿), and letters of Kim Saeng(金生). His late works using the intended conception of and , in particular, present his unique calligraphy style that added the crooked forms of to the shapes of characters of that were in the kai-shu(楷書) style. It is a limitation that a considerable number of calligraphy materials Changam studied or consulted were either reprint copy or block book rather than original rubbing edition due to time and space restrictions. However, it is also true that those restrictions made an important contribution to his creation of his unique calligraphy style with deep local colors at the result of his constant efforts.

• Journal of Distribution Research
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• v.17 no.2
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• pp.63-92
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• 2012

This study investigated consumer intention to use a location-based mobile shopping service (LBMSS) that integrates cognitive and affective responses. Information relevancy was integrated into pleasure-arousal-dominance (PAD) emotional state model in the present study as a conceptual framework. The results of an online survey of 335 mobile phone users in the U.S. indicated the positive effects of arousal and information relevancy on pleasure. In addition, there was a significant relationship between pleasure and intention to use a LBMSS. However, the relationship between dominance and pleasure was not statistically significant. The results of the present study provides insight to retailers and marketers as to what factors they need to consider to implement location-based mobile shopping services to improve their business performance. Extended Abstract : Location aware technology has expanded the marketer's reach by reducing space and time between a consumer's receipt of advertising and purchase, offering real-time information and coupons to consumers in purchasing situations (Dickenger and Kleijnen, 2008; Malhotra and Malhotra, 2009). LBMSS increases the relevancy of SMS marketing by linking advertisements to a user's location (Bamba and Barnes, 2007; Malhotra and Malhotra, 2009). This study investigated consumer intention to use a location-based mobile shopping service (LBMSS) that integrates cognitive and affective response. The purpose of the study was to examine the relationship among information relevancy and affective variables and their effects on intention to use LBMSS. Thus, information relevancy was integrated into pleasure-arousal-dominance (PAD) model and generated the following hypotheses. Hypothesis 1. There will be a positive influence of arousal concerning LBMSS on pleasure in regard to LBMSS. Hypothesis 2. There will be a positive influence of dominance in LBMSS on pleasure in regard to LBMSS. Hypothesis 3. There will be a positive influence of information relevancy on pleasure in regard to LBMSS. Hypothesis 4. There will be a positive influence of pleasure about LBMSS on intention to use LBMSS. E-mail invitations were sent out to a randomly selected sample of three thousand consumers who are older than 18 years old and mobile phone owners, acquired from an independent marketing research company. An online survey technique was employed utilizing Dillman's (2000) online survey method and follow-ups. A total of 335 valid responses were used for the data analysis in the present study. Before the respondents answer any of the questions, they were told to read a document describing LBMSS. The document included definitions and examples of LBMSS provided by various service providers. After that, they were exposed to a scenario describing the participant as taking a saturday shopping trip to a mall and then receiving a short message from the mall. The short message included new product information and coupons for same day use at participating stores. They then completed a questionnaire containing various questions. To assess arousal, dominance, and pleasure, we adapted and modified scales used in the previous studies in the context of location-based mobile shopping service, each of the five items from Mehrabian and Russell (1974). A total of 15 items were measured on a seven-point bipolar scale. To measure information relevancy, four items were borrowed from Mason et al. (1995). Intention to use LBMSS was captured using two items developed by Blackwell, and Miniard (1995) and one items developed by the authors. Data analyses were conducted using SPSS 19.0 and LISREL 8.72. A total of usable 335 data were obtained after deleting the incomplete responses, which results in a response rate of 11.20%. A little over half of the respondents were male (53.9%) and approximately 60% of respondents were married (57.4%). The mean age of the sample was 29.44 years with a range from 19 to 60 years. In terms of the ethnicity there were European Americans (54.5%), Hispanic American (5.3%), African-American (3.6%), and Asian American (2.9%), respectively. The respondents were highly educated; close to 62.5% of participants in the study reported holding a college degree or its equivalent and 14.5% of the participants had graduate degree. The sample represents all income categories: less than $24,999 (10.8%), $25,000-$49,999 (28.34%), $50,000-$74,999 (13.8%), and $75,000 or more (10.23%). The respondents of the study indicated that they were employed in many occupations. Responses came from all 42 states in the U.S. To identify the dimensions of research constructs, Exploratory Factor Analysis (EFA) using a varimax rotation was conducted. As indicated in table 1, these dimensions: arousal, dominance, relevancy, pleasure, and intention to use, suggested by the EFA, explained 82.29% of the total variance with factor loadings ranged from .74 to .89. As a next step, CFA was conducted to validate the dimensions that were identified from the exploratory factor analysis and to further refine the scale. Table 1 exhibits the results of measurement model analysis and revealed a chi-square of 202.13 with degree-of-freedom of 89 (p =.002), GFI of .93, AGFI = .89, CFI of .99, NFI of .98, which indicates of the evidence of a good model fit to the data (Bagozzi and Yi, 1998; Hair et al., 1998). As table 1 shows, reliability was estimated with Cronbach's alpha and composite reliability (CR) for all multi-item scales. All the values met evidence of satisfactory reliability in multi-item measure for alpha (>.91) and CR (>.80). In addition, we tested the convergent validity of the measure using average variance extracted (AVE) by following recommendations from Fornell and Larcker (1981). The AVE values for the model constructs ranged from .74 through .85, which are higher than the threshold suggested by Fornell and Larcker (1981). To examine discriminant validity of the measure, we again followed the recommendations from Fornell and Larcker (1981). The shared variances between constructs were smaller than the AVE of the research constructs and confirm discriminant validity of the measure. The causal model testing was conducted using LISREL 8.72 with a maximum-likelihood estimation method. Table 2 shows the results of the hypotheses testing. The results for the conceptual model revealed good overall fit for the proposed model. Chi-square was 342.00 (df = 92, p =.000), NFI was .97, NNFI was .97, GFI was .89, AGFI was .83, and RMSEA was .08. All paths in the proposed model received significant statistical support except H2. The paths from arousal to pleasure (H1: ${\ss}$=.70; t = 11.44), from information relevancy to intention to use (H3 ${\ss}$ =.12; t = 2.36), from information relevancy to pleasure (H4 ${\ss}$ =.15; t = 2.86), and pleasure to intention to use (H5: ${\ss}$=.54; t = 9.05) were significant. However, the path from dominance to pleasure was not supported. This study investigated consumer intention to use a location-based mobile shopping service (LBMSS) that integrates cognitive and affective responses. Information relevancy was integrated into pleasure-arousal-dominance (PAD) emotional state model as a conceptual framework. The results of the present study support previous studies indicating that emotional responses as well as cognitive responses have a strong impact on accepting new technology. The findings of this study suggest potential marketing strategies to mobile service developers and retailers who are considering the implementation of LBMSS. It would be rewarding to develop location-based mobile services that integrate information relevancy and which cause positive emotional responses.

• MISULJARYO - National Museum of Korea Art Journal
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• v.97
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• pp.87-104
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• 2020

Myogilsang on Diamond Mountain, signed and dated (2000) by Seon-u Yeong (1946-2009), is the first work by a North Korean artist to enter the collection of the National Museum of Korea (fig. 1a). The donor acquired the painting directly from the artist in Pyeongyang in 2006. In consequence, there are no issues with the painting's authenticity.This painting is the largest among all existing Korean paintings, whether contemporary or from the Joseon Dynasty, to depict this iconography (see chart 1. A Chronological List of Korean Myogilsang Paintings.) It is ink and color on paper, measures 130.2 × 56.2 centimeters, and is in a hanging scroll format. Since this essay is intended as a brief introduction of the painting and not in-depth research into it, I will simply examine the following four areas: 1. Seon-u Yeong's background; 2. The location and the traditional appellation of the rock-cut image known as Myogilsang; 3. The iconography of the image; and 4) A comparative analysis of Seon-u Yeong's painting in light of other paintings on the same theme. Finally, I will present two more of his works to broaden the understanding of Seon-u Yeong as a painter. 1. Seon-u Yeong: According to the donor, who met Seon-u at his workshop in the Cheollima Jejakso (Flying Horse Workshop) three years before the artist's death, he was an individual of few words but displayed a firm commitment to art. His preference for subjects such as Korean landscapes rather than motifs of socialist realism such as revolutionary leaders is demonstrated by the fact that, relative to his North Korean contemporaries, he seems to have produced more paintings of the former. In recent years, Seon-u Yeong has been well publicized in Korea through three special exhibitions (2012 through 2019). He graduated from Pyeongyang College of Fine Arts in 1969 and joined the Central Fine Arts Production Workshop focusing on oil painting. In 1973 he entered the Joseon Painting Production Workshop and began creating traditional Korean paintings in ink and color. His paintings are characterized by intense colors and fine details. The fact that his mother was an accomplished embroidery specialist may have influenced on Seon-u's choice to use intense colors in his paintings. By 1992, he had become a painter representing the Democratic People's Republic of Korea with several titles such as Artist of Merit, People's Artist, and more. About 60 of his paintings have been designated as National Treasures of the DPRK. 2. The Myogilsang rock-cut image is located in the Manpok-dong Valley in the inner Geumgangsan Mountain area. It is a high-relief image about 15 meters tall cut into a niche under 40 meters of a rock cliff. It is the largest of all the rock-cut images of the Goryeo period. This image is often known as "Mahayeon Myogilsang," Mahayeon (Mahayana) being the name of a small temple deep in the Manpokdong Valley (See fig. 3a & 3b). On the right side of the image, there is an intaglio inscription of three Chinese characters by the famous scholar-official and calligrapher Yun Sa-guk (1728-1709) reading "妙吉祥"myogilsang (fig. 4a, 4b). 3. The iconography: "Myogilsang" is another name for the Bhodhisattva Mañjuśrī. The Chinese pronunciation of Myogilsang is "miaojixiang," which is similar in pronunciation to Mañjuśrī. Therefore, we can suggest a 妙吉祥 ↔ Mañjuśrī formula for the translation and transliteration of the term. Even though the image was given a traditional name, the mudra presented by the two hands in the image calls for a closer examination. They show the making of a circle by joining the thumb with the ring finger (fig. 6). If the left land pointed downward, this mudra would conventionally be considered "lower class: lower life," one of the nine mudras of the Amitabha. However, in this image the left hand is placed across its abdomen at an almost 90-degree angle to the right hand (fig. 6). This can be interpreted as a combination of the "fear not" and the "preaching" mudras (see note 10, D. Saunders). I was also advised by the noted Buddhist art specialist Professor Kim Jeong-heui (of Won'gwang University) to presume that this is the "preaching" mudra. Therefore, I have tentatively concluded that this Myogilsang is an image of the Shakyamuni offering the preaching mudra. There is no such combination of hand gestures in any other Goryeo-period images. The closest I could identify is the Beopjusa Rock-cut Buddha (fig. 7) from around the same time. 4. Comparative analysis: As seen in , except for the two contemporary paintings, all others on this chart are in ink or ink and light color. Also, none of them included the fact that the image is under a 40-meter cliff. In addition, the Joseon-period paintings all depicted the rock-cut image as if it were a human figure, using soft brushstrokes and rounded forms. None of these paintings accurately rendered the mudra from the image as did Seon-u. Only his painting depicts the natural setting of the image under the cliff along with a realistic rendering of the image. However, by painting the tall cliff in dark green and by eliminating elements on either side of the rock-cut image, the artist was able to create an almost surreal atmosphere surrounding the image. Herein lies the uniqueness of Seon-u Yeong's version. The left side of Seon-u's 2007 work Mount Geumgang (fig. 8) lives up to his reputation as a painter who depicts forms (rocks in this case) in minute detail, but in the right half of the composition it also shows his skill at presenting a sense of space. In contrast, Wave (fig. 9), a work completed one year before his death, displays his faithfulness to the traditions of ink painting. Even based on only three paintings by Seon-u Yeong, it seems possible to assess his versatility in both traditional ink and color mediums.

• The Korean Journal of Air & Space Law and Policy
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• v.18
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• pp.9-39
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• 2003

The rule of the Warsaw Convention of 1929 are well known and still being all over the world. The Warsaw Convention is undoubtedly the most widely accepted private international air law treaty with some 140 countries. In the international legal system for air transportation, the Warsaw Convention has played a major role for more than half century, and has been revised many times in consideration of the rapid developments of air high technology, changes of social and economic circumstances, need for the protection of passengers. Some amendments became effective, but others are still not effective. As a result, the whole international legal system for air transportation is at past so complicated and tangled. However, the 'Warsaw system' consists of the Warsaw Convention of 1929 the Guadalajara Convention of 1961, a supplementary convention, and the following six protocols: (1) the Hague Protocol of 1955, (2) the Guatemala Protocol of 1971, (3) the Montreal Additional Protocols, No.1, (4) the Montreal Additional Protocol No.2, (5) the Montreal Additional Protocol No.3, and (6) the Montreal Additional Protocol No.4. of 1975. As a fundamental principle of the air carrier's liability in the international convention and protocols, for instance in the Warsaw Convention and the Hague Protocol, the principle of limited liability and a presumed fault system has been adopted. Subsequently, the Montreal Inter-carrier Agreement of 1966, the Guatemala City Protocol, the Montreal Additional Protocol No.3, and the Montreal Additional Protocol No. 4 of 1975 maintained the limited liability, but substituted the presumed liability system by an absolute liability, that is, strict liability system. The Warsaw System, which sets relatively low compensation limits for victims of aircraft accidents and regulates the limited liability for death and injury of air passengers, had become increasingly outdated. Japanese Airlines and Inter-carrier Agreement of International Air Transport Association in 1995 has been adopted the unlimited liability of air carrier in international flight. The IATA Inter-Carrier Agreement, in which airlines in international air transportation agree to waive the limit of damages, was long and hard in coming, but it was remarkable achievement given the political and economic realities of the world. IATA deserves enormous credit for bringing it about. The Warsaw System is controversial and questionable. In order to find rational solution to disputes between nations which adopted differing liability systems in international air transportation, we need to reform the liability of air carriers the 'Warsaw system' and fundamentally, to unify the liability system among the nations. The International Civil Aviation Organization(ICAO) will therefore reinforce its efforts to further promote a legal environment that adequately reflects the public interest and the needs of the parties involved. The ICAO Study Group met in April, 1998, together with the Drafting Committee. The time between the "Special Group on the Modernization and Consolidation of the 'Warsaw system'(SGMW)" and the Diplomatic Conference must be actively utilized to arrange for profound studies of the outstanding issues and for wide international consultations with a view to narrowing the scope of differences and preparing for a global international consensus. From 11 to 28 May 1999 the ICAO Headquarters at Montreal hosted a Diplomatic Conference convened to consider, with a view to adoption, a draft Convention intended to modernize and to integrate replace the instruments of the Warsaw system. The Council of ICAO convened this Conference under the Procedure for the Adoption of International Conventions. Some 525 participants from 121 Contracting States of ICAO attended, one non-contracting State, 11 observer delegations from international organizations, a total of 544 registered participants took part in the historic three-week conference which began on 10 May. The Conference was a success since it adopted a new Convention for the Unification of Certain Rules for International Carriage by Air. The 1999 Montreal Convention, created and signed by representatives of 52 countries at an international conference convened by ICAO at Montreal on May 28, 1999, came into effect on November 4, 2003. Representatives of 30 countries have now formally ratified the Convention under their respective national procedures and ratification of the United States, which was the 30th country to ratify, took place on September 5, 2003. Under Article 53.6 of the Montreal Convention, it enters into force on the 60th day following the deposit of the 30th instrument of ratification or acceptation. The United States' ratification was deposited with ICAO on September 5, 2003. The ICAO have succeeded in modernizing and consolidating a 70-year old system of international instruments of private international law into one legal instrument that will provide, for years to come, an adequate level of compensation for those involved in international aircraft accidents. An international diplomatic conference on air law by ICAO of 1999 succeeded in adopting a new regime for air carrier liability, replacing the Warsaw Convention and five other related legal instruments with a single convention that provided for unlimited liability in relation to passengers. Victims of international air accidents and their families will be better protected and compensated under the new Montreal Convention, which modernizes and consolidates a seventy-five year old system of international instruments of private international law into one legal instrument. A major feature of the new legal instrument is the concept of unlimited liability. Whereas the Warsaw Convention set a limit of 125,000 Gold Francs (approximately US$ 8,300) in case of death or injury to passengers, the Montreal Convention introduces a two-tier system. The first tier includes strict liability up to l00,000 Special Drawing Rights (SDR: approximately US$ 135,000), irrespective of a carrier's fault. The second tier is based on presumption of fault of a carrier and has no limit of liability. The 1999 Montreal Convention also includes the following main elements; 1. In cases of aircraft accidents, air carriers are called upon to provide advance payments, without delay, to assist entitled persons in meeting immediate economic needs; the amount of this initial payment will be subject to national law and will be deductable from the final settlement; 2. Air carriers must submit proof of insurance, thereby ensuring the availability of financial resources in cases of automatic payments or litigation; 3. The legal action for damages resulting from the death or injury of a passenger may be filed in the country where, at the time of the accident, the passenger had his or her principal and permanent residence, subject to certain conditions. The new Montreal Convention of 1999 included the 5th jurisdiction - the place of residence of the claimant. The acceptance of the 5th jurisdiction is a diplomatic victory for the US and it can be realistically expected that claimants' lawyers will use every opportunity to file the claim in the US jurisdiction - it brings advantages in the liberal system of discovery, much wider scope of compensable non-economic damages than anywhere else in the world and the jury system prone to very generous awards. 4. The facilitation in the recovery of damages without the need for lengthy litigation, and simplification and modernization of documentation related to passengers. In developing this new Montreal Convention, we were able to reach a delicate balance between the needs and interests of all partners in international civil aviation, States, the travelling public, air carriers and the transport industry. Unlike the Warsaw Convention, the threshold of l00,000 SDR specified by the Montreal Convention, as well as remaining liability limits in relation to air passengers and delay, are subject to periodic review and may be revised once every five years. The primary aim of unification of private law as well as the new Montreal Convention is not only to remove or to minimize the conflict of laws but also to avoid conflict of jurisdictions. In order to find a rational solution to disputes between nations which have adopted differing liability systems in international air transport, we need fundamentally to reform their countries's domestic air law based on the new Montreal Convention. It is a desirable and necessary for us to ratify rapidly the new Montreal Convention by the contracting states of lCAO including the Republic of Korea. According to the Korean and Japanese ideas, airlines should not only pay compensation to passengers immediately after the accident, but also the so-called 'condolence' money to the next of kin. Condolence money is a gift to help a dead person's spirit in the hereafter : it is given on account of the grief and sorrow suffered by the next of kin, and it has risen considerably over the years. The total amount of the Korean and Japanese claims in the case of death is calculated on the basis of the loss of earned income, funeral expenses and material demage (baggage etc.), plus condolence money. The economic and social change will be occurred continuously after conclusion of the new Montreal Convention. In addition, the real value of life and human right will be enhanced substantially. The amount of compensation for damage caused by aircraft accident has increased in dollar amount as well as in volume. All air carrier's liability should extend to loss of expectation of leisure activities, as well as to damage to property, and mental and physical injuries. When victims are not satisfied with the amount of the compensation for damage caused by aircraft accident for which an airline corporation is liable under the current liability system. I also would like to propose my opinion that it is reasonable and necessary for us to interpret broadly the meaning of the bodily injury on Article 17 of the new Montreal Convention so as to be included the mental injury and condolence. Furthermore, Korea and Japan has not existed the Air Transport Act regulated the civil liability of air carrier such as Air Transport Act (Luftverkehrsgestz) in Germany. It is necessary for us to enact "the Korean Air Transport Contract Act (provisional title)" in order to regulate the civil liability of air carrier including the protection of the victims and injured persons caused by aircraft accident.