• Journal of the Korean Association of Geographic Information Studies
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• v.8 no.2
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• pp.95-102
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• 2005

Currently, the government has been established GIS DB related to river as a part of the river map digitization projects such as RIMGIS and flood map. This study was aimed to demonstrate the generation of thematic maps related to river space and their management system, the one of the major river thematic maps proposed from the precedent study "Establishment of River Thematic Map Project" in an effort to maximize the utilization of river related database, the major product of the project for digitization of river maps. This study includes amending database model for building river thematic maps. Also, metadata were amended and built for efficient management and distribution of the river related data based on the national standard metadata proposed from "Establishing Standard Metadata" sponsored by National Geography Institute in 2003 for more effective management of river thematic maps. In addition, this study analyzed the method for utilizing existing data from RIMGIS and WAMIS as well as digital topographic maps to produce 25 river thematic maps in accordance of defined building procedure. Management system of the river thematic maps for Kyungan watershed has been generated for effective managing river thematic maps based on the design and pilot generation of river thematic maps, and metadata management function has been added into the management system.

• Journal of Distribution Science
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• v.13 no.5
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• pp.53-60
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• 2015

Purpose - The purpose of this paper is to shed light on the importance of the slope and curvature of the volatility curve implied in option prices in the KOSPI 200 options index. A number of studies examine the implied volatility curve, however, these usually focus on cross-sectional characteristics such as the volatility smile. Contrary to previous studies, we focus on time-series characteristics; we investigate correlation dynamics among slope, curvature, and level of the implied volatility curve to capture market information embodied therein. Our study may provide useful implications for investors to utilize current market expectations in managing portfolios dynamically and efficiently. Research design, data, and methodology - For our empirical purpose, we gathered daily KOSPI200 index option prices executed at 2:50 pm in the Korean Exchange distribution market during the period of January 2, 2004 and January 31, 2012. In order to measure slope and curvature of the volatility curve, we use approximated delta distance; the slope is defined as the difference of implied volatilities between 15 delta call options and 15 delta put options; the curvature is defined as the difference between out-of-the-money (OTM) options and at-the-money (ATM) options. We use generalized method of moments (GMM) and the seemingly unrelated regression (SUR) method to verify correlations among level, slope, and curvature of the implied volatility curve with statistical support. Results - We find that slope as well as curvature is positively correlated with volatility level, implying that put option prices increase in a downward market. Further, we find that curvature and slope are positively correlated; however, the relation is weakened at deep moneyness. The results lead us to examine whether slope decreases monotonically as the delta increases, and it is verified with statistical significance that the deeper the moneyness, the lower the slope. It enables us to infer that when volatility surges above a certain level due to any tail risk, investors would rather take long positions in OTM call options, expecting market recovery in the near future. Conclusions - Our results are the evidence of the investor's increasing hedging demand for put options when downside market risks are expected. Adding to this, the slope and curvature of the volatility curve may provide important information regarding the timing of market recovery from a nosedive. For financial product distributors, using the dynamic relation among the three key indicators of the implied volatility curve might be helpful in enhancing profit and gaining trust and loyalty. However, it should be noted that our implications are limited since we do not provide rigorous evidence for the predictability power of volatility curves. Meaning, we need to verify whether the slope and curvature of the volatility curve have statistical significance in predicting the market trough. As one of the verifications, for instance, the performance of trading strategy based on information of slope and curvature could be tested. We reserve this for the future research.

• Journal of Distribution Science
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• v.11 no.4
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• pp.73-80
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• 2013

Purpose - As the smart-phone market adds new technologies and introduces new marketing trends, competition among companies is getting fierce. Now, smart-phone companies need to pay attention not only to attaining new customers but also to retaining customers, which means managing relationships to prevent customer defection. Therefore, how to satisfy customer needs and maintain long-term relations are both important to make consistent progress in the rapidly changing smart-phone market. To illustrate this point, the study focuses on analyzing the effects of consumption value on relational factors and buying intentions among smart-phone users. First, consumption value was divided into functional, economic, and emotional values. After that, the effects of these values on satisfaction and brand trust were confirmed. Additionally, effects of satisfaction and brand trust on repurchase intention were analyzed. Research design, data, and methodology - The data was collected in a self-administered survey among 270 undergraduate students, using smart-phones between June 4th-12th, 2012. A total of 257 questionnaires were collected and used for the data analysis. A path analysis based on Lisrel 8.54 was used for the hypothesis test. Consumption value was divided into functional, economic, and emotional values. Subsequently, the effects of these values on satisfaction and trust in the brand were confirmed. Additionally, the effects of satisfaction and trust in the brand on repurchase intention were analyzed. Results - First, functional value, economic value, and emotional value - especially emotional value - were revealed to have positive effects on satisfaction. Second, emotional value was shown to have positive effects on brand trust, while functional and economic values did not. Third, satisfaction had positive effects on brand trust. In considering the relative influence on brand trust, satisfaction was the most crucial factor. It is clear that in the evaluation of the direct experience, using the product or the service plays an important role in building brand trust. Fourth, satisfaction and brand trust positively influenced repurchase intention. This indicates that both factors must be achieved to induce the repurchase Intention among customers. Conclusions - One can see that the enjoyable emotions consumers feel while using smart-phones is the most important factor in increasing levels of satisfaction. Moreover, this indicates that consumers pursue economic desires along with convenient functions in order to reduce opportunity costs. Additionally, consumers are affected by psychological and emotional messages in building trust, rather than practical and rational ones. Thus, in order to appeal to young clients as an attractive brand in the smart-phone market, approaching customers with an emotional value is recommended. In addition, in order for the brand to gain trust, the overall experience the consumer feels while using smart phones should be maximized. After all, one must fulfill the consumers' desire for a new experience and show a willingness to faithfully accomplish the responsibility of the brand to strengthen relationships with customers in the smart-phone market.

• Korean Journal of Remote Sensing
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• v.36 no.5_2
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• pp.867-879
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• 2020

As the era of space technology utilization is approaching, the launch of CAS (Compact Advanced Satellite) 500-1/2 satellites is scheduled during 2021 for acquisition of high-resolution images. Accordingly, the increase of image usability and processing efficiency has been emphasized as key design concepts of the CAS 500-1/2 ground station. In this regard, "CAS 500-1/2 Image Acquisition and Utilization Technology Development" project has been carried out to develop core technologies and processing systems for CAS 500-1/2 data collecting, processing, managing and distributing. In this paper, we introduce the results of the above project. We developed an operation system to generate precision images automatically with GCP (Ground Control Point) chip DB (Database) and DEM (Digital Elevation Model) DB over the entire Korean peninsula. We also developed the system to produce ortho-rectified images indexed to 1:5,000 map grids, and hence set a foundation for ARD (Analysis Ready Data)system. In addition, we linked various application software to the operation system and systematically produce mosaic images, DSM (Digital Surface Model)/DTM (Digital Terrain Model), spatial feature thematic map, and change detection thematic map. The major contribution of the developed system and technologies includes that precision images are to be automatically generated using GCP chip DB for the first time in Korea and the various utilization product technologies incorporated into the operation system of a satellite ground station. The developed operation system has been installed on Korea Land Observation Satellite Information Center of the NGII (National Geographic Information Institute). We expect the system to contribute greatly to the center's work and provide a standard for future ground station systems of earth observation satellites.