• Information Systems Review
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• v.25 no.4
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• pp.27-45
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• 2023

The importance of information security has grown alongside the development of information and communication technology. However, companies struggle to select suitable countermeasures within their limited budgets. Sönmez and Kılıç (2021) proposed a model using AHP and mixed integer programming to determine the optimal investment combination for mitigating information security breaches. However, their model had limitations: 1) a lack of objective measurement for countermeasure efficacy against security threats, 2) unrealistic scenarios where risk reduction surpassed pre-investment levels, and 3) cost duplication when using a single countermeasure for multiple threats. This paper enhances the model by objectively quantifying countermeasure efficacy using the beta probability distribution. It also resolves unrealistic scenarios and the issue of duplicating investments for a single countermeasure. An empirical analysis was conducted on domestic SMEs to determine investment budgets and risk levels. The improved model outperformed Sönmez and Kılıç's (2021) optimization model. By employing the proposed effectiveness measurement approach, difficulty to evaluate countermeasures can be quantified. Utilizing the improved optimization model allows for deriving an optimal investment portfolio for each countermeasure within a fixed budget, considering information security costs, quantities, and effectiveness. This aids in securing the information security budget and effectively addressing information security threats.

• Economic and Environmental Geology
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• v.46 no.3
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• pp.235-246
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• 2013

The importance of R&D has been recognized around the world and Korean research funding has rapidly increased in recent years. As a results, interest in strategic R&D Investment is growing in both the public and private sectors. This study was carried out to find trends in the research projects of the KIGAM since the fiscal year of 1976. The KIGAM expended 1,193.3 billion won during the 36 years from the fiscal years of 1976 to 2011, which is 1,795.8 billion won calculated using the present value in 2011 at discount rate of 5%. R&D expenditure of KIGAM increased approximately 132.9 times from 885 million won in 1976 to 117,600 million won in 2011, and about 24.1 times from 4,882 million won in 1976, as calculated using the present value in 2011. The number of research projects increased about 6.75 times, from 28 projects in 1976 to 189 projects in 2011. Based on research trend analysis over the last 36 years, the percentage of research projects by research fields were as follows: mineral resources research, 39.5%; geologic environmental research, 28.8%; geological research, 15.6%; petroleum and marine research, 12.1%; and policy research, 3.1%. The percentage of the R&D budget dedicated to each type of research were as follows: mineral resources research, 33.1%; geologic environmental research, 25.6%; geological research, 22.8%; petroleum and marine research, 15.9%; and policy research, 2.1%. Allocation of R&D investment was determined by considering the governmental priority of such research, as well as which area were most promising. Based on the research projects trends within KIGAM and analyses of its R&D, we should build our R&D portfolio in the areas of geosciences and mineral resources.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.63-75
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• 2023

This study conducted empirical analysis on the factors affecting the investment performance of 205 domestic venture funds (with a total liquidation amount of 7.25 trillion KRW) newly formed from 2007 to 2017 and completely liquidated as of the end of 2022. Due to the nature of private equity funds, obtaining empirical data is extremely challenging, especially for data post-COVID-19 era liquidations. Nevertheless, despite these challenges, it is meaningful to analyze the impact on the investment returns of domestic venture funds using the most recent data available from the past 10 years. This study categorized the factors influencing venture fund performance into external environmental factors and internal factors. External environmental factors included "economic cycles," "stock markets," "venture markets," and "exit markets," while internal factors included the fund management company's capabilities in terms of "experience," "professional personnel," and "assets under management (AUM)." The fund structure was also categorized into "fund size" and "fund length" for comparative analysis. In summary, the analysis yielded the following results: First, the 3-year government bond yield, which represents economic cycles well, was found to have a significant impact on fund performance. Second, the average 3-month KOSDAQ index return after fund formation had a statistically significant positive effect on fund performance. Third, the number of IPOs, indicating the competition intensity at the time of venture fund liquidation, was shown to have a negative effect on fund performance. Fourth, it was observed that the larger the AUM of the fund management company, the better the fund's returns. Finally, venture fund returns showed variations depending on the year of formation (Vintage). Therefore, when individuals consider investing in venture funds, it is considered a highly effective investment strategy to construct an investment portfolio taking into account not only external environmental factors and internal fund factors but also the vintage year.

• 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.

• The Korean Journal of Financial Management
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• v.24 no.4
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• pp.75-106
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• 2007

In this study, it is analyzed whether oil price plays a major role in the pricing return on Koran stock market and examined why the covariance risk between oil and return on stock is different in each industry. Firstly, this study explores whether the expected rate of return on stock is pricing due to global oil price factors as a function of risk premium by using a two-factor APT. Also, it is examined whether spill-over effects of oil price volatility affect the beta risk to oil price. Considering the asymmetry of oil price volatility, we use the GJR model. As a result, it shows that oil price is an independent pricing factor and oil price volatility transmits to stock return in only electricity and electrical equipment. Secondly, the two step-analyzing process is introduced to find why the covariance between oil price factor and stock return is different in each industry. The first step is to study whether beta risk exists in each industry by using two proxy variables like size and liquidity as control variables. The second step is to grasp the systematic relationship between the difference of liquidity and size and beta to oil price factor by using the panel-data model which can be analyzed efficiently using the cross-sectional data formed with time series. Through the analysis, we can argue that oil price factor is an independent pricing factor in only electricity and electrical equipment having the greatest market capitalization, and know that beta risk to oil price factor is a proxy of size in the other industries. According to the result of panel-data model, it is argued that the beta to oil price factor augments when market capitalization increases and this fact supports the first assertion. In conclusion, the expected rate of return of electricity and electrical equipment works as a function of risk premium to market portfolio and oil price, and the reason to make beta risk power differentiated in each industry attributes to the size.

• Journal of Korean Home Economics Education Association
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• v.22 no.3
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• pp.163-188
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• 2010

This study set out to develop and evaluate an educational program for the Clothing Life of Home Economics through the theme-based integrated approach develop integrated thinking abilities for solving everyday problems. For those purposes, it selected a couple of themes in the area of Clothing Life toward which the theme-based integrated approach could be develop and evaluate an educational program. The developed program was applied and assessed in total 28 hours of field lessons given to eighth graders attending B Middle School in Busan Metropolitan City. The analysis stage involved an exploration into programs related to an integrated approach to other subjects; the design stage identification of program types; and the development stage theme selection according to the selection criteria. The previous studies were analyzed along with the Technology and Home Economics textbooks to select a theme. two themes "Clothing Management" and "Fabrics(Materials)" were selected after discussing with the students on the Messenger and with a group of experts. Then content was organized and composed around the themes by discussing connections with other subjects. There were three evaluation; one by experts, another through preliminary lessons, and the other through field lessons. Following the research procedure, a theme-based integrated program was developed for the two selected themes. It contained total 49 and 32 learning materials for "Clothing Management" and "Fabrics(Materials)," respectively. Those learning materials were comprised of experiments and practices according to the nature of the themes. Each program consisted of the goals, learning content, content organization chart, learning activities, and evaluation; learning activities experiences, practice and experiment activities, self-directed activities and problem-solving processes; and evaluations self-evaluation, teacher evaluation, peer evaluation, portfolio, and experiment reports. The program was assessed three times. The first and second evaluation results found that the program was well compatible with the current needs, was properly organized to give lessons through integration with other subjects, and continuously maintained the students' interest. They, however, requested that there should be detailed explanations about each part of the program content. In the third evaluation done by the students during field lessons, 60% of them said that the program was fun and its content was easy to understand, that they realized a theme could be connected to several other subjects, and that the program could be applied to actual life. The educational program through the theme-based integrated approach is significant in that it is an educational program for the area of Clothing Life and tries an integrated approach. It helped the students not only gather knowledge in an integrated manner, but put it to practical uses to solve various problems they faced in actual life by creatively changing integrated knowledge. The study will be hopefully used by many teachers so that the students solve problems based on the ability of integrating various knowledges organically.

• 대한공업교육학회지
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• v.34 no.2
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• pp.103-127
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• 2009

The purpose of this study is to offer the basic data regarding the problems of the employment training activities and their solutions by way of the research and analysis of the awareness of career development of university students and their preparation for employment opportunities. The results of the study are as follows. First, it is necessary that the students themselves make plans for future jobs and their preparation for them, from the start of their university work. This includes taking employment preparation courses as liberal arts requirements. It also needs to have a systematic association with some organizations such as employment preparation centers. Second, it is necessary that the career portfolios of university students be accepted as materials for objective evaluation so that the companies use them at the time of hiring new employees. If those materials are stored and managed in a database even after their graduation, they will be the strong foundation for the competitive power of the university.Third, it is necessary that university students establish the orientation of employment training in advance, according to their personal and disciplinary possibilities by diagnosing the level of basic employment ability they possess and that they find out the appropriate programs, both personal and disciplinary, to enforce the abilities they need to develop further. Accordingly, it is necessary to have an evaluation system in order to assess student's basic employment abilities, so as to increase the degree of their employment preparation and its support strategy based on the evaluation. Fourth, in the higher education level, university students' lower awareness (M=2.86) of their discipline satisfaction, their major selection, and the university's employment opportunity service shows that it is necessary that there be close connection between learning and work. For short-term purpose, the quantitative and qualitative evaluation must be preceded about the various employment training programs and self-development programs offered by the university. From the long-term perspective, it is urgently necessary that the university ensure the human resources development experts for the purpose of diagnosing employment services within the university.

• Journal of Korean Home Economics Education Association
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• v.17 no.2
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• pp.197-219
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• 2005

This study attempted, in accordance with the National Educational Curriculum, to develop achievement assessment standards for a course within the field of home economics which has been widely adopted by Korean vocational high schools, namely, the food and nutrition subject. Focus was also placed on strengthening the management of the curriculum for this food and nutrition course, as well as on establishing proper assessment standards by developing model assessment tools which can be used to assess the subject. The results of this study can be summarized as follows : First, based on an analysis of the related literature and materials. the desired notion of the achievement and assessment standards was established, and their significance ascertained the achievement and assessment standards for the food and nutrition course were set and the type of model assessment tool which should be developed, as well as the method in which it should be applied. was established Second. by analyzing the curriculums and the contents of the textbooks used in the food and nutrition subject, the researcher was able to compile the 70 factors which could to be used to develop the achievement and assessments standards, and then classify these into 6 main categories and 32 sub-categories. Based on the characteristics of these factors and learners' academic performance levels the number of factors was expanded to 89 in order to establish the achievement standards. In turn, these achievement standards were used, in accordance with the learners' achievement and teaming activity levels, to develop three different levels of assessment standards. namely, upper, middle, and lower ones. Third. a model assessment tool was developed which could be used by individual school units as a reference in terms of achievement and assessment standards, and that could be modified to meet each school's circumstances. In order to create the model assessment tool a 100-question questionnaire was formulated that contained various types of questions, such as essay, report, theoretical and practical, portfolio, as well as multiple choice-type questions. Lastly, the researcher introduced measures to effectively use the achievement and assessment standards developed for the food and nutrition course, as well as the model assessment tool in school units.

• Journal of Christian Education in Korea
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• v.61
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• pp.165-201
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• 2020

The purpose of this study is to explore the development of language education of Christian early childhood education by exploring the change of pre-Christian preschool teachers through the development of biblical language education activities. Interviews, surveys, action plans, and reflections of 19 Christian education students who participated in the development of bible-based language education activities for children based on the language of early childhood language, were conducted from September 3 to December 28, 2018. The data were collected through a portfolio. By analyzing the collected data, the key categories were derived and categorized. For the objectification of data analysis and interpretation, two thematic and early childhood education specialists were identified. As a result, the preparatory Christian teacher experience for the development of bible-based langage education activities for young children was categorized into cognitive change, personality change and practical change. First, through the development of bible-based early childhood language education activities, Christian pre-service early childhood teachers have brought cognitive changes as 'processes not outcomes', 'integration not separation', 'living non-curriculum' and 'meaning not effect'. In developing bible-based language education activities for young children, Christian pre-service early childhood teachers experienced a cognitive change in the 'process of language education activities' rather than the developmental achievements and results of early childhood language education. Christian pre-service early childhood teachers recognized the necessity of 'integration of listening-speaking-reading-writing', not the separation of early childhood language education. They recognized the importance of 'informal language education in kindergarten life', as well as teacher-centered formal language education. In addition, they have made a cognitive change that 'child-centered meaningful language education experience' is more important than the effectiveness of early childhood language education. Second, in developing bible-based language education activities for young children, Christian pre-service early childhood teachers showed personality changes as 'confident teachers', 'professional teachers', and 'teachers with reflective thoughts and attitudes'. Finally, in developing bible-based language education activities for young children, Christian pre-service early childhood teachers recognized the power of positive language and practiced it to form habits of using the right language and to link Christian education with early childhood education. Through the development of bible-based language education activities for young children, Christian pre-service early childhood teachers are equipped with the heart attitude and enthusiasm required to become true early childhood teachers for young children in unpredictable educational conditions and rapidly changing educational realities. Teacher efficacy has improved. In the future, it is expected that various teacher education programs linking Christian education and early childhood education will be continuously and systematically implemented.

• Journal of Korean Home Economics Education Association
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• v.33 no.1
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• pp.101-127
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• 2021

The purpose of this study is to design and develop a teaching-learning process plan for process-based assessment, focusing on the unit related to life design in middle school home economics(HE: Home Economics part of 「Technology and Home Economics」), to propose a feedback plan after implementing it, and to evaluate the plan through participatory observation and interviews. The student reflection journals, teacher's class journals, participatory observation journals, interviews, and performance tasks, were collected and analyzed to provide foundational date to be utilized for feedback to students, and class improvement. The research results are as follows: First, the developed teaching-learning process plan consists of a total of 8 sessions, i.e. 2 sessions for each of the four learning themes, under the practical question of "What should I do to live the life I want?" The portfolio was composed of five evaluation topics and for evaluation, oral presentation, observational evaluation, self-assessment, and peer evaluation were considered. Second, during the class, feedback from teachers, feedback from fellow students, feedback through results, and a plan to record them were provided. Third, from the analysis of collected data including observation journals and interviews, it was apparent that the students recognized the necessity of process-based assessment after the class, and students acknowledged that through the process-based evaluation in which they are evaluated on the efforts they made and provided with feedbacks, they participated more in class, and it lead them to experience a sense of growth and a feeling that they took a step forward into their future. Teachers suggested that the class through feedback was suitable for the unit and the capacity of the class, but the difficulty they experienced in giving feedback was presented as a disadvantage. For the process-based assessment, follow-up research is needed on various ways to provide feedback on-line and off-line through changes in the perception of assessment.