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The Price-discovery of Korean Bond Markets by US Treasury Bond Markets by US Treasury Bond Markets - The Start-up of Korean Bond Valuation System - (한국 채권현물시장에 대한 미국 채권현물시장의 가격발견기능 연구 - 채권시가평가제도 도입 전후를 중심으로 -)

  • Hong, Chung-Hyo;Moon, Gyu-Hyun
    • The Korean Journal of Financial Management
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    • v.21 no.2
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    • pp.125-151
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    • 2004
  • This study tests the price discovery from US Treasury bond markets to Korean bond markets using the daily returns of Korean bond data (CD, 3-year T-note, 5-year T-note, 5-year corporate note) and US treasury bond markets (3-month T-bill, 5-year T-note 10-year T-bond) from July 1, 1998 to December 31, 2003. For further research, we divide full data into two sub-samples on the basis of the start-up of bond valuation system in Korean bond market July 1, 2000, employing uni-variate AR(1)-GARCH(1,1)-M model. The main results are as follows. First the volatility spillover effects from US Treasury bond markets (3-month T-bill, 5-year T-note, 10-year T-bond) to Korean Treasury and Corporate bond markets (CD, 3-year T-note, 5-year T-note, 5-year corporate note) are significantly found at 1% confidence level. Second, the price discovery function from US bond markets to Korean bond markets in the sub-data of the pre-bond valuation system exists much stronger and more persistent than those of the post-bond valuation system. In particular, the role of 10-year T-bond compared with 3-month T-bill and 5-year T-note is outstanding. We imply these findings result from the international capital market integration which is accelerated by the broad opening of Korean capital market after 1997 Korean currency crisis and the development of telecommunication skill. In addition, these results are meaningful for bond investors who are in charge of capital asset pricing valuation, risk management, and international portfolio management.

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Hardware Approach to Fuzzy Inference―ASIC and RISC―

  • Watanabe, Hiroyuki
    • Proceedings of the Korean Institute of Intelligent Systems Conference
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    • 1993.06a
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    • pp.975-976
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    • 1993
  • This talk presents the overview of the author's research and development activities on fuzzy inference hardware. We involved it with two distinct approaches. The first approach is to use application specific integrated circuits (ASIC) technology. The fuzzy inference method is directly implemented in silicon. The second approach, which is in its preliminary stage, is to use more conventional microprocessor architecture. Here, we use a quantitative technique used by designer of reduced instruction set computer (RISC) to modify an architecture of a microprocessor. In the ASIC approach, we implemented the most widely used fuzzy inference mechanism directly on silicon. The mechanism is beaded on a max-min compositional rule of inference, and Mandami's method of fuzzy implication. The two VLSI fuzzy inference chips are designed, fabricated, and fully tested. Both used a full-custom CMOS technology. The second and more claborate chip was designed at the University of North Carolina(U C) in cooperation with MCNC. Both VLSI chips had muliple datapaths for rule digital fuzzy inference chips had multiple datapaths for rule evaluation, and they executed multiple fuzzy if-then rules in parallel. The AT & T chip is the first digital fuzzy inference chip in the world. It ran with a 20 MHz clock cycle and achieved an approximately 80.000 Fuzzy Logical inferences Per Second (FLIPS). It stored and executed 16 fuzzy if-then rules. Since it was designed as a proof of concept prototype chip, it had minimal amount of peripheral logic for system integration. UNC/MCNC chip consists of 688,131 transistors of which 476,160 are used for RAM memory. It ran with a 10 MHz clock cycle. The chip has a 3-staged pipeline and initiates a computation of new inference every 64 cycle. This chip achieved an approximately 160,000 FLIPS. The new architecture have the following important improvements from the AT & T chip: Programmable rule set memory (RAM). On-chip fuzzification operation by a table lookup method. On-chip defuzzification operation by a centroid method. Reconfigurable architecture for processing two rule formats. RAM/datapath redundancy for higher yield It can store and execute 51 if-then rule of the following format: IF A and B and C and D Then Do E, and Then Do F. With this format, the chip takes four inputs and produces two outputs. By software reconfiguration, it can store and execute 102 if-then rules of the following simpler format using the same datapath: IF A and B Then Do E. With this format the chip takes two inputs and produces one outputs. We have built two VME-bus board systems based on this chip for Oak Ridge National Laboratory (ORNL). The board is now installed in a robot at ORNL. Researchers uses this board for experiment in autonomous robot navigation. The Fuzzy Logic system board places the Fuzzy chip into a VMEbus environment. High level C language functions hide the operational details of the board from the applications programme . The programmer treats rule memories and fuzzification function memories as local structures passed as parameters to the C functions. ASIC fuzzy inference hardware is extremely fast, but they are limited in generality. Many aspects of the design are limited or fixed. We have proposed to designing a are limited or fixed. We have proposed to designing a fuzzy information processor as an application specific processor using a quantitative approach. The quantitative approach was developed by RISC designers. In effect, we are interested in evaluating the effectiveness of a specialized RISC processor for fuzzy information processing. As the first step, we measured the possible speed-up of a fuzzy inference program based on if-then rules by an introduction of specialized instructions, i.e., min and max instructions. The minimum and maximum operations are heavily used in fuzzy logic applications as fuzzy intersection and union. We performed measurements using a MIPS R3000 as a base micropro essor. The initial result is encouraging. We can achieve as high as a 2.5 increase in inference speed if the R3000 had min and max instructions. Also, they are useful for speeding up other fuzzy operations such as bounded product and bounded sum. The embedded processor's main task is to control some device or process. It usually runs a single or a embedded processer to create an embedded processor for fuzzy control is very effective. Table I shows the measured speed of the inference by a MIPS R3000 microprocessor, a fictitious MIPS R3000 microprocessor with min and max instructions, and a UNC/MCNC ASIC fuzzy inference chip. The software that used on microprocessors is a simulator of the ASIC chip. The first row is the computation time in seconds of 6000 inferences using 51 rules where each fuzzy set is represented by an array of 64 elements. The second row is the time required to perform a single inference. The last row is the fuzzy logical inferences per second (FLIPS) measured for ach device. There is a large gap in run time between the ASIC and software approaches even if we resort to a specialized fuzzy microprocessor. As for design time and cost, these two approaches represent two extremes. An ASIC approach is extremely expensive. It is, therefore, an important research topic to design a specialized computing architecture for fuzzy applications that falls between these two extremes both in run time and design time/cost. TABLEI INFERENCE TIME BY 51 RULES {{{{Time }}{{MIPS R3000 }}{{ASIC }}{{Regular }}{{With min/mix }}{{6000 inference 1 inference FLIPS }}{{125s 20.8ms 48 }}{{49s 8.2ms 122 }}{{0.0038s 6.4㎲ 156,250 }} }}

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Effect of Calcium and Boron Intakes on Calcium Balance Status in Ovariectomized Rats (난소절제 흰쥐에 있어 칼슘과 보론 섭취수준이 칼슘 평형상태에 미치는 영향)

  • Choi, Mi-Kyeong;Kim, Mi-Hyun;Kang, Myung-Hwa
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.35 no.1
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    • pp.48-54
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    • 2006
  • This study was conducted to investigate the effect of calcium and boron intakes on calcium utilization in ovariectomized (OVX) rats. Rats were divided into 9 groups and fed diets containing various levels of calcium $(0.1\%,\;0.5\%,\;1.5\%)$ and boron (0.5 ppm, 50 ppm, 100 ppm) for 4 weeks. The half of rats in each group were ovariectomized and the others were sham-operated. Rats were fed same diets for 8 weeks after operation. Feed intake and weight gain were significantly increased as the dietary calcium was increased and those of OVX group were higher than in sham-operated group. Feed efficiency ratio was significantly higher in OVX group than that in sham-operated one. With boron supplementation, serum calcium level was significantly increased in low-calcium group, but decreased in adequate/high-calcium group. In calcium balance, calcium intake was significantly increased with increasing levels of calcium and boron and higher in OVX group than that in sham-operated one. With increasing calcium intake, fecal and urinary calcium excretions were significantly increased. Urinary calcium excretion was significantly decreased with increment of boron intake. Apparent calcium absorption of adequate-calcium OVX group was the highest among the groups. Daily calcium retention was significantly increased as the dietary calcium was increased and that of high-calcium OVX group was higher than high-calcium sham-operated group. According to these results, the boron supplementation increased the calcium intake and decreased the urinary calcium excretion. Therefore, it could be suggested that the boron supplementation may be complementary to calcium nutrition and useful for bone health.

Effects of School Attendance Policy on Breakfast Eating, Sleep, and Physical Activity in Middle School Students (9시 등교정책이 중학생의 아침식사, 수면 및 신체활동에 미치는 영향)

  • Kim, Ha Na;Kim, Seong Yeong
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.46 no.11
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    • pp.1397-1407
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    • 2017
  • The aim of a school attendance policy (SAP) is to ensure breakfast time for school-aged adolescents. Therefore, this study investigated the effects of SAP on dietary behavior, particularly breakfast consumption, among adolescent middle school students (n=426) in the Ansan area of Gyeonggi-do. After implementation of the SAP, the response rates for eating breakfast every-day among boys (P>0.05) and girls (P<0.05) slightly increased by 44.6% and 35.8%, respectively, compared to before the SAP. Further, the degree of satisfaction with breakfast increased among both boys ('satisfied' and 'strongly satisfied'; 32.4% and 21.6%, respectively) (P<0.01) and girls ('satisfied' and 'strongly satisfied'; 32.8% and 14.2%, respectively) (P<0.001) compared to before the SAP. Moreover, boys (56.8%) and girls (53.9%) were aware that the SAP increased breakfast-eating frequency. Increases in deep sleep as a result of the SAP were high in both boys (39.2%) and girls (47.1%), and sleeping hours among boys (P<0.05) and girls (P<0.01) increased compared to before the SAP. The respondents were aware of the positive effects on physical function such as reduction of physical fatigue (boys 40.1%, girls 38.2%) and improvement of physical health (boys 36.5%, girls 32.8%). Thus, systematic and sustained political support at the national level is required to encourage healthy breakfast eating and physical activity in middle school students.

Research about CAVE Practical Use Way Through Culture Content's Restoration Process that Utilize CAVE (가상현실시스템(CAVE)을 활용한 문화 Content의 복원 과정을 통한 CAVE활용 방안에 대한 연구)

  • Kim, Tae-Yul;Ryu, Seuc-Ho;Hur, Yung-Ju
    • Journal of Korea Game Society
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    • v.4 no.3
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    • pp.11-20
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    • 2004
  • Virtual reality that we have seen from the movies in 80's and 90's is hawing near based on the rapid progress of science together with a computer technology. Various virtual reality system developments (such as VRML, HMD FishTank, Wall Type, CAVE Type, and so on) and the advancement of those systems make for the embodiment of virtual reality that gives more sense of the real. Virtual reality is so immersive that makes people feel like they are in that environment and enable them to manipulate without experiencing the environment at first hand that is hard to experience in reality. Virtual reality can be applied to the spheres, such as education, high-level programming, remote control, surface exploration of the remote satellite, analysis of exploration data, scientific visualization, and so on. For some connote examples, there are training of a tank and an aeroplane operation, fumiture layout design, surgical operation practice, game, and so on. In these virtual reality systems, the actual operation of the human participant and virtual workspace are connected each other to the hardware that stimulates the five senses adequately to lend the sense of the immersion. There are still long way to go, however, before long it will be possible to have the same feeling in the virtual reality as human being can have by further study and effort. In this thesis, the basic definition, the general idea, and the kind of virtual reality were discussed. Especially, CAVE typed in reality that is highly immersive was analyzed in definition, and then the method of VR programming and modeling in the virtual reality system were suggested by showing the restoration process of Kyongbok Palace (as the content of the original form of the culture) that was made by KISTI(Korea Institute of Science and Technology Information) in 2003 through design process in virtual reality system. Through these processes, utilization of the immersive virtual reality system was discussed and how to take advantage of this CAVE typed virtual reality system at the moment was studied. In closing the problems that had been exposed in the process of the restoration of the cultural property were described and the utilization plan of the virtual reality system was suggested.

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Effects of Fermented Rice Wine by Using Mycelium of Phellinus linteus on the Expression of Inflammation-Related Proteins in Human Hepatoma Cells and Rat Liver (상황버섯 균사체를 이용한 발효주가 인체간암세포와 흰쥐 간의 염증관련 단백질 발현에 미치는 영향)

  • Ahn Seung-Min;Lee Jun-Hyuk;Choi Yung-Hyun;Lee Yong-Tae;Chung Kyung-Tae;Jeong Young-Kee;Jo Un-Bock;Choi Byung-Tae
    • Journal of Life Science
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    • v.16 no.1
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    • pp.101-107
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    • 2006
  • We have recently discovered that mycelium of Phellinus linteus, popular medical mushrooms in Korea, possess alcohol dehydrogenase and produce alcohol. In the present study, it was examined that the effect of fermented rice wine made by using mycelium of P. linteus (FLMP) on the expression of in-flammation-related proteins in both $HepG_2$ cells and rats. To examine the effect of FLMP on the morphology and expression of inflammatory proteins in $HepG_2$ cells, the cells were incubated with ethanol, and FLMP for 24 hours, and then analyzed by microscopic observation and Western blot and reverse transcription polymerase chain reaction (RT-PCR). While ethanol induced the morphological change accompanied with cell debris formation and scattering on $HepG_2$ cells, FLMP had no effect. The results of Western blot and RT-PCR analyses showed that the level of inducible nitric oxide synthase (iNOS), cyclooxygenase (COX)-1 and COX-2 was induced by ethanol, however, FLMP inhibited the expression of these proteins and its mRNAs. In the animal model, the value of flutamate oxaloacetate transaminase and glutamate pyruvate transaminase was significantly increased by administration with ethanol. But the group administrated with FLMP showed lower levels on the changes of these markers compared with ethanol-administrated group. Besides, the results of Western blot and RT-PCR analyses showed that the expression of inflammatory proteins such as iNOS, COX-1 and COX-2 was not affected by FLMP administration in rat liver. About histopathological and immunohistochemical observations, inflammatory loci were markedly decreased in the FLMP-administrated rat compared to ethanol-administrated rats and showed weaker COX-2 and iNOS jmmunoreactions. These results suggested that FLMP showed slight changes on the inflammatory proteins expression compared to ethanol and FLMP may be used as a functional alcoholic beverage.

An Analysis of Validity and Satisfaction for Objectives of Small and Medium Business(SMB) Administration Subsidy the Human Resource Development Program(HRDP) and the Customized Employment Program(CEP) in Specialized High Schools (중소기업 특성화고 인력양성사업과 취업맞춤반의 성과 목표에 대한 타당도 및 만족도 분석 연구)

  • Lee, Byung Wook;Ahn, Jae Yeong;Kang, Chol Min
    • 대한공업교육학회지
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    • v.41 no.1
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    • pp.68-87
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    • 2016
  • This research conducted a survey for total 166 teachers of schools so as to analyze validity and satisfaction for performance objectives of SMB administration subsidy the HRDP and the CEP in Specialized High School. The results of research are as follows. First, teachers recognize that purpose of HRDP is to expand employment of specialized high school and provide human resource of SMB. And, they recognize that HRDP is important to improve school outcomes and makes a positive effect on the improvement of school outcomes. Second, teachers recognize that objectives of HRDP are improvement of student's understanding for SMB, improvement of teacher's understanding for SMB, improvement of SMB's understanding of school, cultivation of student's occupational view, systematization of career guiding program based on employment process, strengthening of industry-academia cooperation education, improvement of the level of student's skill, fulfillment of workplace experience and practice focusing workplace learning, training of customized human resource for SMB, improvement of student's adaptation to the workplace, improvement of employment rate for SMB, expansion of job opportunities for students with SMB, preparation of the base of connection between school and SMB, publicity of school, expansion of opportunities to cooperate between SMB and school, establishment of cooperative system among industrial association and school, introduction and operation of the employment connective model for joint education and employment, strengthening of field professionalism of teachers. However, satisfaction for the achievement of objectives of HRDP except for strengthening of industry-academia cooperation education and improvement of employment rate for SMB is relatively lower than the validity. Third, teachers in charge of human resource training business of middle and small sized company's specialized high school recognize that objectives of CEP are expansion of job opportunities for students with SMB, excavation of good-quality SMB, expansion of opportunities to cooperate between SMB and school, fulfillment of workplace learning, improvement of student's major foundation and in-depth skill, improvement of literacy, math, teamwork and communication abilities for students' job performance, improvement of student's working attitude and student's proper career exploration decision. However, satisfaction for achievement of objectives of CEP is relatively lower than the validity.

The knowledge and human resources distribution system for university-industry cooperation (대학에서 창출하는 지적/인적자원에 대한 기업연계 플랫폼: 인문사회계열을 중심으로)

  • Park, Yoon-Joo
    • Journal of Intelligence and Information Systems
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    • v.20 no.3
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    • pp.133-149
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    • 2014
  • One of the main purposes of universities is to create new intellectual resources that will increase social values. These intellectual resources include academic research papers, lecture notes, patents, and creative ideas produced by both professors and students. However, intellectual resources in universities are often not distributed to the actual users or companies; and moreover, they are not even systematically being managed inside of the universities. Therefore, it is almost impossible for companies to access the knowledge created by university students and professors to utilize them. Thus, the current level of knowledge sharing between universities and industries are very low. This causes a great extravagant with high-quality intellectual and human resources, and it leads to quite an amount of social loss in the modern society. In the 21st century, the creative ideas are the key growth powers for many industries. Many of the globally leading companies such as Fedex, Dell, and Facebook have established their business models based on the innovative ideas created by university students in undergraduate courses. This indicates that the unconventional ideas from young generations can create new growth power for companies and immensely increase social values. Therefore, this paper suggests of a new platform for intellectual properties distribution with university-industry cooperation. The suggested platform distributes intellectual resources of universities to industries. This platform has following characteristics. First, it distributes not only the intellectual resources, but also the human resources associated with the knowledge. Second, it diversifies the types of compensation for utilizing the intellectual properties, which are beneficial for both the university students and companies. For example, it extends the conventional monetary rewards to non-monetary rewards such as influencing on the participating internship programs or job interviews. Third, it suggests of a new knowledge map based on the relationships between key words, so that the various types of intellectual properties can be searched efficiently. In order to design the system platform, we surveyed 120 potential users to obtain the system requirements. First, 50 university students and 30 professors in humanities and social sciences departments were surveyed. We sent queries on what types of intellectual resources they produce per year, how many intellectual resources they produce, if they are willing to distribute their intellectual properties to the industries, and what types of compensations they expect in returns. Secondly, 40 entrepreneurs were surveyed, who are potential consumers of the intellectual properties of universities. We sent queries on what types of intellectual resources they want, what types of compensations they are willing to provide in returns, and what are the main factors they considered to be important when searching for the intellectual properties. The implications of this survey are as follows. First, entrepreneurs are willing to utilize intellectual properties created by both professors and students. They are more interested in creative ideas in universities rather than the academic papers or educational class materials. Second, non-monetary rewards, such as participating internship program or job interview, can be the appropriate types of compensations to replace monetary rewards. The results of the survey showed that majority of the university students were willing to provide their intellectual properties without any monetary rewards to earn the industrial networks with companies. Also, the entrepreneurs were willing to provide non-monetary compensation and hoped to have networks with university students for recruiting. Thus, the non-monetary rewards are mutually beneficial for both sides. Thirdly, classifying intellectual resources of universities based on the academic areas are inappropriate for efficient searching. Also, the various types of intellectual resources cannot be categorized into one standard. This paper suggests of a new platform for the distribution of intellectual materials and human resources, with university-industry cooperation based on these survey results. The suggested platform contains the four major components such as knowledge schema, knowledge map, system interface, and GUI (Graphic User Interface), and it presents the overall system architecture.

The Ages of Fault Activities of the Ilgwang Fault in Southeastern Korea, Inferred by Classification of Geomorphic Surfaces and Trench Survery (지형면 분류 및 트렌치 조사에 의한 일광단층의 단층활동시기 추정)

  • Jang, Ho;Lee, Jin-Han;An, Yun-Seong;Joo, Byeong-Chan
    • The Korean Journal of Quaternary Research
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    • v.18 no.1 s.22
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    • pp.21-30
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    • 2004
  • The Ilgwang Fault is NNE-striking, elongated 40 Km between Ulsan and Haeundae-ku, Busan in southeastern part of the Korean Peninsula. This paper si mainly concerned about the ages of the fault activities especially in the Quaternary, inferred from classification of geomorphic surfaces and trench excavation for the construction of Singori nuclear power plant. The geomorphic surfaces are classified into Beach and the Alluvial plain, the 10 m a.s.l. Marine terrace(MIS 5a), the 20 m a.s.l. Marine terrace(MIS 5e), the Reworked surface of 45 m a.s.l. Marine terrace(MIS 7 or 9) and the Low relief erosional surface. The Low relief erosional surface is distributed coastal side, the Reworked surface of 45m a.s.l. Marine terrace inland side by the Ilgwang Fault Line as the boundary line. But the former is above 10 m higher in relative height than the latter. The 20 m a.s.l. Marine terrace on the elongation line of the Ilgwang Fault reveals no dislocation. A site was trenched on the straight contact line with $N30^{\circ}E$-striking between the 10 m a.s.l. Marine terrace and the 20 m a.s.l. Marine terrace. Fault line or dislocation was not observable in the trench excavation. Accordingly, the straight contact line is inferred as the ancient shore line of the 10 m a.s.l. Marine terrace. The Ages of the Fault activities are inferred after the formation of the Ichonri formation - before the formation of the 45 m a.s.l. Marine terrace(220 Ka. y. B.P. or 320. Ka. y. B.P.). The Low relief erosional surface was an island above the sea-level during the formation of the 45 m a.s.l. marine terrace in the paleogeography.

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The Making of Local Socio-economic Space and the Role of Local Government, In Case of Taegu and textile industry (지역사회.경제 공간의 형성과 지방정부의 역할, 대구시와 섬유산업의 경우)

  • Park, Kyu-Taeg
    • Journal of the Korean association of regional geographers
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    • v.7 no.3
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    • pp.91-106
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    • 2001
  • Local government takes an active role in the (re)making of local socio-economic space. To support such an argument, the three different actions by the local government of Taegu, urban planning and local industrial districts, the establishment of special educational institutions, and textile festival are analyzed. The division of the city's space into residential, commercial, and industrial area by local government constrained the location of local manufacturing industries. It also forced textile industry to move to the outskirts of Taegu. As the education level in South Korea rose after the late 1970s, the local government of Taegu as well as local industrial capitalists had to do something to acquire a stable supply of labor to local manufacturing industries, particularly textile one. After the late 1970s, the special classes for the education of local workers, especially textile ones were established within vocational high school and company-operated high schools were also built in Taegu. Finally, local government started a program of textile festival in 1985. Through textile festival, local government as well as local textile business people tried to reproduce textile industry as the main economic activity of Taegu.

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