• Journal of Intelligence and Information Systems
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• v.20 no.2
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• pp.59-71
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• 2014

System trading is becoming more popular among Korean traders recently. System traders use automatic order systems based on the system generated buy and sell signals. These signals are generated from the predetermined entry and exit rules that were coded by system traders. Most researches on system trading have focused on designing profitable entry and exit rules using technical indicators. However, market conditions, strategy characteristics, and money management also have influences on the profitability of the system trading. Unexpected price deviations from the predetermined trading rules can incur large losses to system traders. Therefore, most professional traders use strategy portfolios rather than only one strategy. Building a good strategy portfolio is important because trading performance depends on strategy portfolios. Despite of the importance of designing strategy portfolio, rule of thumb methods have been used to select trading strategies. In this study, we propose a SVM-based strategy portfolio management system. SVM were introduced by Vapnik and is known to be effective for data mining area. It can build good portfolios within a very short period of time. Since SVM minimizes structural risks, it is best suitable for the futures trading market in which prices do not move exactly the same as the past. Our system trading strategies include moving-average cross system, MACD cross system, trend-following system, buy dips and sell rallies system, DMI system, Keltner channel system, Bollinger Bands system, and Fibonacci system. These strategies are well known and frequently being used by many professional traders. We program these strategies for generating automated system signals for entry and exit. We propose SVM-based strategies selection system and portfolio construction and order routing system. Strategies selection system is a portfolio training system. It generates training data and makes SVM model using optimal portfolio. We make $m{\times}n$ data matrix by dividing KOSPI 200 index futures data with a same period. Optimal strategy portfolio is derived from analyzing each strategy performance. SVM model is generated based on this data and optimal strategy portfolio. We use 80% of the data for training and the remaining 20% is used for testing the strategy. For training, we select two strategies which show the highest profit in the next day. Selection method 1 selects two strategies and method 2 selects maximum two strategies which show profit more than 0.1 point. We use one-against-all method which has fast processing time. We analyse the daily data of KOSPI 200 index futures contracts from January 1990 to November 2011. Price change rates for 50 days are used as SVM input data. The training period is from January 1990 to March 2007 and the test period is from March 2007 to November 2011. We suggest three benchmark strategies portfolio. BM1 holds two contracts of KOSPI 200 index futures for testing period. BM2 is constructed as two strategies which show the largest cumulative profit during 30 days before testing starts. BM3 has two strategies which show best profits during testing period. Trading cost include brokerage commission cost and slippage cost. The proposed strategy portfolio management system shows profit more than double of the benchmark portfolios. BM1 shows 103.44 point profit, BM2 shows 488.61 point profit, and BM3 shows 502.41 point profit after deducting trading cost. The best benchmark is the portfolio of the two best profit strategies during the test period. The proposed system 1 shows 706.22 point profit and proposed system 2 shows 768.95 point profit after deducting trading cost. The equity curves for the entire period show stable pattern. With higher profit, this suggests a good trading direction for system traders. We can make more stable and more profitable portfolios if we add money management module to the system.

• Journal of Intelligence and Information Systems
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• v.22 no.4
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• pp.19-43
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• 2016

This study examines the causes of the Asian exchange rate crisis and compares it to the European Monetary System crisis. In 1997, emerging countries in Asia experienced financial crises. Previously in 1992, currencies in the European Monetary System had undergone the same experience. This was followed by Mexico in 1994. The objective of this paper lies in the generation of useful insights from these crises. This research presents a comparison of South Korea, United Kingdom and Mexico, and then compares three different models for prediction. Previous studies of economic crisis focused largely on the manual construction of causal models using linear techniques. However, the weakness of such models stems from the prevalence of nonlinear factors in reality. This paper uses a structural equation model to analyze the causes, followed by a neural network model to circumvent the linear model's weaknesses. The models are examined in the context of predicting exchange rates In this paper, data were quarterly ones, and Consumer Price Index, Gross Domestic Product, Interest Rate, Stock Index, Current Account, Foreign Reserves were independent variables for the prediction. However, time periods of each country's data are different. Lisrel is an emerging method and as such requires a fresh approach to financial crisis prediction model design, along with the flexibility to accommodate unexpected change. This paper indicates the neural network model has the greater prediction performance in Korea, Mexico, and United Kingdom. However, in Korea, the multiple regression shows the better performance. In Mexico, the multiple regression is almost indifferent to the Lisrel. Although Lisrel doesn't show the significant performance, the refined model is expected to show the better result. The structural model in this paper should contain the psychological factor and other invisible areas in the future work. The reason of the low hit ratio is that the alternative model in this paper uses only the financial market data. Thus, we cannot consider the other important part. Korea's hit ratio is lower than that of United Kingdom. So, there must be the other construct that affects the financial market. So does Mexico. However, the United Kingdom's financial market is more influenced and explained by the financial factors than Korea and Mexico.

• Management & Information Systems Review
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• v.36 no.3
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• pp.151-165
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• 2017

This study investigates the effect of revenue recognition by percentage of completion method on financial analysts' earnings forecasting information in order industry. Specifically, we examines how the analysts' earnings forecast errors and biases differ according to whether or not to report the unbilled revenue account balance and the level of unbilled revenue account balance. The sample consists of 453 firm-years listed in Korea Stock Exchange during the period from 2010 to 2014 since the information on unbilled revenue accounts can be obtained after the adoption of K-IFRS. The results are as follows. First, we find that the firms with unbilled revenue account balances have lower analysts' earnings forecast accuracy than the firms who do not report unbilled revue account balances. In addition, we find that the accuracy of analysts' earnings forecasts decreases as the amount of unbilled revenue increases. Unbilled revenue account balances occur when the revenue recognition of the contractor is faster than the client. There is a possibility that managerial discretionary judgment and estimation may intervene when the contractor calculates the progress rate. The difference between the actual progress of the construction and the progress recognized by the company lowers the predictive value of financial statements. Our results suggest that the analysts' earnings forecasts may be more difficult for the firms that report unbilled revenue balances as applying the revenue recognition method based on the progress criteria. Second, we find that the firms reporting unbilled revenue account balances tend to have higher the optimistic biases in analysts' earnings forecast than the firms who do not report unbilled revenue account balances. And we find that the analysts' earnings forecast biases are increases as the amount of unbilled revenue increases. This study suggests an effort to reduce the arbitrary adjustment and estimation in the measurement of the progress as well as the introduction of the progress measurement method which can reflect the actual progress. Investors are encouraged to invest and analyze the characteristics of the order-based industry accounting standards. In addition, the results of this study empower the accounting transparency enhancement plan for order industry proposed by the policy authorities.

• Korean Journal of Environment and Ecology
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• v.31 no.1
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• pp.42-53
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• 2017

One of the negative ecological effects following road construction is roadkill; animals die on the roads after being struck by vehicles. Roadkills have been a major concern in South Korea due to the large mountain areas in the country and have been mentioned as a causal factor for the decline in wildlife. Although snake roadkills frequently occur, as with mammals, birds, and amphibians, there are not many related studies done on snake roadkills. In this study, we determined snake roadkill patterns in the northeast part of South Korea including most of the Gangwon-do areas and parts of Gyeonggi-do, Chungcheongbuk-do, and Gyeongsangbuk-do by analyzing the snake roadkills found between May 2007 and Aug 2012. We identified a total of 155 roadkilled snakes from 10 different species. Red-sided water snake (Rhabdophis tigrinus), Red-tongue viper snake (Gloydius ussuriensis), Cat snake (Elaphe dione), Red-banded snake (Dinodon rufozonatus), and Viper snake (Gloydius brevicaudus) accounted for more than 90% of the total cases. It was found that more active forager snakes were killed than sit-and-wait foragers, more male snakes were killed than female snakes, and more adult snakes were killed than subadult snakes. The snake roadkill frequency was the highest in September between the altitudes of 200 and 400 m, and on roads between either a mountain and a body of water or between a mountain and a crop field. Our results are expected to enhance the understanding of snake roadkills in general and to determine the areas, specific sites and species for planning projects for snake roadkill reduction in the northeast of South Korea.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.37 no.1
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• pp.125-132
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• 2017

The development project of Busan New Port aims to be Logistics Hub Port but there are too many things to deal with ; enlargement of harbour, interport competition, modernization of harbour loading equipment and so on. At present, 23 berths of North and South container quay are in operation and 22 berths will be constructed on west and south-side by 2020. Namely, Busan New Port will operate 45 berths in 2020. When it comes to port distripark, a large-scale of Port distripark project is underway, such as Ung-Dong district 1,2 phase, West container 1,2phase, North distripark and so on. This study is to deduce traffic system problem of Busan New Port which is caused by the development project through predicting traffic need considering the development project. According to study, there are three main problems of traffic system : 1. traffic congestion caused on main crossroad, connecting second harbour back road. 2. It has been predicted that South-North road and traffic capacity of New Port road would lack compared to traffic volume-to-be-increased. Moreover, the detour volume of traffic is caused because New Port's 1st avenue and route 2 were not connected directly. Thus, this study suggests three kinds of improvement plan for smoother traffic flow. 1st. Operate roundabout on major intersection, for example, second harbour back road, west container wharf's subway corridors(South to North), and permit only right turn on sub-intersection. 2nd. Extend New Port road(North container's port road) by utilizing side walk and median. 3rd. Install exit ramp which utilizes Route 2 connecting New Port's 1st avenue and local road 1042. The method we used to analyze the effect of improvement is Vissim of Mircro Simulation Package.

• Journal of the Korea Society of Computer and Information
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• v.16 no.5
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• pp.79-91
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• 2011

In this paper, a DS (Data Synchronization) server for mobile communication environments is constructed and the suitability and the performance of its operations are validated. The DS server provides a way to update the newest data and keep data consistency for clients (mobile devices). In addition, the DS server constructed in this paper supports various synchronization types, and detects all changes and conflicts. In case of data conflicts, the DS server resolves the conflicts according to the several policies implemented in this work. The DS server conforms to the OMA(Open Mobile Alliance) DS standard protocol for interoperability with other mobile devices and servers. In addition to the transmission-by record scheme proposed by the OMA DS standard protocol, the DS server constructed in this paper also provides the transmission-by field scheme for the enhancement transmission performance between the server and clients. In order to validate its operations, data synchronization between the DS server and the SCTS (SyncML Conformance Test Suit), the suitability validation tool provided by the OMA, is performed. The validation results show that the DS server constructed in this paper satisfies all of the test cases except the Large Object function. The Large Object function will be implemented later because the function is not needed for the personal information synchronization process which this paper aims for. Also, synchronization times of the DS server are measured while increasing the number of data and clients. The results of the performance evaluations demonstrate that the DS server is scalable, in the sense that it has not suffered from any serious bottlenecks with respect to the number of data and clients. We expect that this work will provide a framework for various studies in the future for improving mobile DS operations.

• Journal of The Korean Association For Science Education
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• v.37 no.4
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• pp.565-575
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• 2017

This study analyzes the epistemic considerations and the argumentation level revealed in the discourse of the key concept of natural selection for science-gifted elementary students. The paper analyzes and discusses the results of a three-student focus group, drawn from a cohort of twenty gifted sixth-grade elementary students. Nature, generality, justification, and audience were used to analyze epistemic consideration. Learning progression in scientific argumentation including argument construction and critique was used to analyze students' scientific argumentation level. The findings are as follows: First, Epistemic considerations in discourse varied between key concepts of natural selection discussed. The nature aspect of epistemic considerations is highly expressed in the discourse for all natural selection key concepts. But the level of generality, justification and audience was high or low, and the level was not revealed in the discourse. In the heredity of variation, which is highly expressed in terms of generality of knowledge, the linkage with various phenomena against the acquired character generated a variety of ideas. These ideas were used to facilitate engagement in argumentation, so that all three students showed the level of argumentation of suggestions of counter-critique. Second, students tried to explain the process of speciation by using concepts that were high in practical epistemic considerations level when explaining the concept of speciation, which is the final natural selection key concept. Conversely, the concept of low level of epistemic considerations was not included as an explanation factor. The results of this study suggest that students need to analyze specific factors to understand why epistemological decisions are made by students and how epistemological resources are used according to context through various epistemological resources. Analysis of various factors influencing epistemological decisions can be a mediator of the instructor who can improve the quality and level of the argumentation.

• Journal of Life Science
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• v.26 no.8
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• pp.904-910
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• 2016

Complex traits are determined by the combined effects of many loci and are affected by gene networks or biological pathways. Systems biology approaches have an important role in the identification of candidate genes related to complex diseases or traits at the system level. The gene network analysis has been performed by diverse types of methods such as gene co-expression, gene regulatory relationships, protein-protein interaction (PPI) and genetic networks. Moreover, the network-based methods were described for predicting gene functions such as graph theoretic method, neighborhood counting based methods and weighted function. However, there are a limited number of researches in livestock. The present study systemically analyzed genes associated with 102 types of economic traits based on the Animal Trait Ontology (ATO) and identified their relationships based on the gene co-expression network and PPI network in cattle. Then, we constructed the two types of gene network databases and network visualization system (http://www.nabc.go.kr/cg). We used a gene co-expression network analysis from the bovine expression value of bovine genes to generate gene co-expression network. PPI network was constructed from Human protein reference database based on the orthologous relationship between human and cattle. Finally, candidate genes and their network relationships were identified in each trait. They were typologically centered with large degree and betweenness centrality (BC) value in the gene network. The ontle program was applied to generate the database and to visualize the gene network results. This information would serve as valuable resources for exploiting genomic functions that influence economically and agriculturally important traits in cattle.

• Journal of the Korean Institute of Landscape Architecture
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• v.40 no.2
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• pp.1-14
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• 2012

The purpose of this study is to derive a desirable riverfront construction plan to me for the activities of citizens through the evaluation and analysis of the urban riverfront space from the perspective of universal design. Therefore, previous studies were examined in order to induce evaluation tools that bhve been grafted from the universal design concept; in addition, a field survey was conducted in Shincheon, Daegu, which was selected as the study target, in order to induce problems and improvement directions from the perspective of universal design. The major results can be summarized as follows. (1) In the 'fairness' aspect, all the items such as installation of integrated functional signage, showing pictures, symbols, foreign language signs, and restroom entrances signage were determined to be 'All Unsuitable' for all sections; and therefore, it is necessary to improve the fairness of usage for everybody. (2) In the 'Functionality(Usability)' aspect, all items such as installation of bicycle paths beside access roads, installation of integrated functional signs, and night light signs were determined to be 'All Unsuitable' for all sections; therefore, it is necessary to improve the functionalities of these facilities. (3) In the 'Convenience' aspect, all items such as the installation of bicycle parking areas, continuous rest facilities, and back and ann support(handles) at resting facilities were determined to be 'All Unsuitable' for many sections; therefore, it is necessary to improve these facilities for the convenience of usage. (4) In the 'Information(Recognizability)' aspect, all items such as showing pictures, symbols, foreign languages and installation of night light signs, and restroom entrances signage were determined to be 'All Unsuitable' for all sections; therefore, it is necessary to improve the recognizability to minimize misunderstandings and confusion. (5) In the 'Safety' aspect, all items such as the installation of safe pedestrian paths in parking areas, using anti-slip and shock absorption materials on restroom floors, and the continuous installation of pedestrian paths that are separate from bicycle paths were determined to be 'All Unsuitable' for all sections; therefore, it is necessary to improve the safety to prevent accidents. (6) In the 'Amenity' aspect, access roads, parking areas, hygiene facilities, convenience facilities, and waterside facilities for many sections were determined to be 'All Unsuitable'; therefore, it is necessary to conduct more concentrated hygiene management. (7) In the 'Accessibility(Mobility)' aspect, all items such as the installation of safe pedestrian paths in parking areas, and continuous pedestrian paths that are separate from bicycle paths were determined to be 'All Unsuitable' for all sections; therefore, it is necessary to improve the accessibility to provide safety and convenience. (8) In the 'Durability' aspect, access roads, parking areas, rest facilities, convenience facilities, fitness facilities, and waterside facilities were determined to be 'All Unsuitable' for many sections, therefore, it is necessary to improve sunken or damaged areas by inspecting facilities by section.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.35 no.1
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• pp.57-67
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• 2017

Based on the study on place name, meaning analysis of buddhist temple Palgyeng, and classifications of instructions and characteristics of writings on rocks, the main results of the study showed the following. Cheongamsa is located in the upstream of Muheulgugok Valley which was run by Hangang Jeong Gu(寒岡 鄭逑), a typical young man in the middle of the Joseon Dynasty, and overlaps with chief monk Byukam Lee Dukjin's(1896~?) object of Cheongamsa Palgyeng during Japanese colonial era. Including the mountain embracing Cheongamsa called Bullyeong-san, various characteristics of writings on rocks such as use of combination of place names including Sudosan, Seonlyeongsan, and Sinseondae, as well as Cheongamsa Temple, Bullyeongdongchun(佛靈洞天), Namuabitabul, Hogye(虎溪), Yeosan Waterfall(廬山瀑布), and Sejinam(洗 塵巖) show co-existence of Confucianism and Taoism mixed together in the temple. Especially for Cheongamsa Valley Hogye and Samsocheon(三笑泉) which is in the precincts of the temple, are realized as the symbol of the scenery of the three religion consilience of Confucianism, Buddhism, and Taoism through announcement using Hogyesamso(虎溪三笑) which originated from Yeosan Donglimsa, Jiangxi, China. Also, there are Yeosan Waterfall with a noble sense of place by negotiating with god, writing on rocks imprinted, and Yeosangyo(廬山橋) in Cheongamsa. As such, cultures of the three religion remain in various layers with the spirit of Hogyosamso symbolizing the consilience and coexistence of the three religion in Cheongamsa without the exclusiveness of Buddhism. Besides, the third precept of Yukhwagyeongbub, known to be practiced in Buddhist temples, which says "Do not only express self-assertion and ignore others" according to the dogma of working together in harmony, is in accordance with the spirits of Hogyesamso. As shown, Gimcheon Cheongamsa which is adorned with cultural landscapes of Hogyesamso, Gugokdongcheon(九曲洞天), and Palgyeng(八景), is not only good enough for the way of Buddhism and Confucianism but also for a place for the three religion consilience embracing the three religion.