• Korean Management Science Review
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• v.31 no.3
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• pp.95-111
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• 2014

It is essential to carry out an economic analysis on public water supply projects so that policy makers and water enterprises are aware of the actual value of the project. However, many popular approaches based on discounted cash flow analysis do not capture the uncertainties inherent in cash flow. In order to analyze the economic values of the water supply project of local governments, we utilize real option model, which considers uncertainty in future water price behavior and captures the value of real life flexibility. The real option model is designed to incorporate the option to expand and abandon, and it is applied to a local government case. Furthermore, we assess the project by exploring Luehrman's option space to accommodate the more efficient decision making. The results show that substantial amount of potential value is included in the public water supply service, and the overall value is greater than the value obtained from the discounted cash flow model.

• Journal of applied mathematics & informatics
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• v.17 no.1_2_3
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• pp.519-536
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• 2005

The purpose of this paper is to propose several approximating methods to obtain the American option prices under jump-diffusion processes. The first method is to extend an approximating method to the optimal exercise boundary by a multipiece exponential function suggested by Ju [17]. The second approach is to modify the analytical methods of MacMillan [20] and Zhang [25] in a discrete time space. The third approach is to apply the simulation technique of Ibanez and Zapareto [14] to the problem of American option pricing when the jumps are allowed. Finally, we compare the numerical performance of each suggesting method with those of the previous numerical approaches.

• Proceedings of the Korean Information Science Society Conference
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• 2005.07a
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• pp.337-339
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• 2005

By definition of RFC 2018, each segments block of data queued at the data receiver is defined in the SACK option by two 32-bit unsigned integers in network byte order. Since TCP Options field has a 40-byte maximum length, when error bursts occur we note that the limitation of maximum available option space may not be sufficient to report all blocks present in the receiver's queue and lead to unnecessarily force the TCP sender to retransmit packets that have actually been received but not carried related information in SACK option field. For overcoming this restriction, in this paper, a new solution is designed to further improve the performance of TCP SACK and prevent those unwanted retransmissions. Simulation result shows that the implementation of our proposal is effective.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.30 no.1
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• pp.20-27
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• 2022

It is anticipated that there will be radical disputes over land ownership in the event of the advent of the era of UAM. As such, policy alternative is presented by analyzing and researching relevant laws at home and abroad on the means of legislating 'Regulations on compensation for use of air space above land' in preparation of such occurrence. As the results of the study, it is deemed to limit the range of the land ownership in accordance with UAM operation as follows. First, it is proposed to newly enact regulation to limit the ownership of air space of land owner to the public space above the elevation of 200m as stipulated under the Article 78 of the Aviation Safety Act. Second, as the result of analysis made for the option of making compensation from the perspective of the property right of land ownership and option of not making compensation from the perspectives of public interest and concerns in the event of operation of UAM within the air space below the elevation of 200m, it is deemed that legislative decision is necessary through more extensive studies in the future.

• 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.

• Bulletin of the Korean Space Science Society
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• 2003.10a
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• pp.107-107
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• 2003

GPS Receiver는 위성에 위치 정보와 시간 정보등을 제공하고 navigation을 관리하며 이에 관련된 signal을 processing하는 역할을 한다. 2005년에 발사 예정인 KOMPSAT-2 위성에는 Alcatel에서 제작된 Topstar 3000이 사용된다. Topstar 3000은 RF 부분과 digital 처리부분으로 구성된 GPS core부분과 MLD-STD_1553, DC-DC converter, 그리고 Ovened-controlled Oscillator(OCXO)부분으로 구성되는 option module 부분으로 구성되어 있다. 본 논문에서는 GPS Signal Simulator로 KOMPSAT-2의 실제 궤도를 구현해서 Sun-Point Mode와 Earth-Point Mode 등 여러가지 Mode 에서 GPS Receiver의 시간, 위치, 속도 정보의 정확성에 대한 성능이 분석된다.

• The Bulletin of The Korean Astronomical Society
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• v.42 no.1
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• pp.57.3-58
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• 2017

Single Point Diamond Turning (SPDT) is a cost-effective technique to fabricate metallic mirrors. In particular, the servo-assisted diamond turning option is highly useful for the fabrication of freeform surfaces. However, the SPDT process leaves periodic tool marks on machined mirror surfaces, leading to undesirable diffraction effect, as well as the deviation of input beam. In order to solve this problem, we propose new SPDT machining conditions to minimize tool marks. We will also show the results from optical measurement and Power Spectral Density (PSD) analysis to evaluate the expectable performance for applications in wide field infrared telescopes.

• Journal of Dental Rehabilitation and Applied Science
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• v.33 no.2
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• pp.127-134
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• 2017

Delayed eruption disorders caused by systemic or local conditions are mostly found during childhood and can be treated with orthodontic forced eruption. When the disorder is not found nor treated during childhood, however, orthodontic eruption might become a difficult option while prosthodontic restoration can be considered as an another option. Considerations for the prosthodontic treatment plan include the extent of tooth loss, interdental mesio-distal space and interarch space, and age of the patient. In this case report, oral rehabilitation of the patient with delayed eruption disorder through zirconia partial fixed prostheses for both maxilla and mandible was performed.

• Journal of Aerospace System Engineering
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• v.10 no.1
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• pp.127-132
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• 2016

Recently, China & Japan have expanded their responding ADIZ(Air Defence Identification Zone) to implement each Government's maritime policy and to project their Air Power in preparation for maritime provocation & contingency, especially over the piled area where East Asia countries have claimed to have maritime jurisdiction one another. So this is to guide the Development Option for Korea Air Defence Identification Zone to cope with the maritime intentions of the neighboring countries, considering the international law for ADIZ, the maritime policy and the maritime sovereign & jurisdiction area of the Republic of Korea, etc.

• Journal of the Korean Society for Aeronautical & Space Sciences
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• v.50 no.12
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• pp.877-888
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• 2022

Recently, as the CAPSTONE, a precursor mission for Lunar Gateway, was launched on a small launch vehicle for the purpose of demonstrating communications and navigation technology in the NRHO, large attention was brought to this event that enabled high-impact deep space mission using dedicated small launch vehicle and small spacecraft. In this study, we introduced the concept of a dual launch operation and examined the capability of the new concept in the exploration of the Moon, Mars and asteroid. It turned out a single launch is sufficient for the lunar low orbit mission up to around 247 kg, and the dual launch option can transport 215 kg and 183 kg to nearby destinations as such as Mars and astroid Apophis respectively.