• Journal of Intelligence and Information Systems
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• v.24 no.2
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• pp.195-220
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• 2018

In this study, we conducted an empirical analysis of the factors that affect the change of Bitcoin Closing Price. Previous studies have focused on the security of the block chain system, the economic ripple effects caused by the cryptocurrency, legal implications and the acceptance to consumer about cryptocurrency. In various area, cryptocurrency was studied and many researcher and people including government, regardless of country, try to utilize cryptocurrency and applicate to its technology. Despite of rapid and dramatic change of cryptocurrencies' price and growth of its effects, empirical study of the factors affecting the price change of cryptocurrency was lack. There were only a few limited studies, business reports and short working paper. Therefore, it is necessary to determine what factors effect on the change of closing Bitcoin price. For analysis, hypotheses were constructed from three dimensions of consumer, industry, and macroeconomics for analysis, and time series data were collected for variables of each dimension. Consumer variables consist of search traffic of Bitcoin, search traffic of bitcoin ban, search traffic of ransomware and search traffic of war. Industry variables were composed GPU vendors' stock price and memory vendors' stock price. Macro-economy variables were contemplated such as U.S. dollar index futures, FOMC policy interest rates, WTI crude oil price. Using above variables, we did times series regression analysis to find relationship between those variables and change of Bitcoin Closing Price. Before the regression analysis to confirm the relationship between change of Bitcoin Closing Price and the other variables, we performed the Unit-root test to verifying the stationary of time series data to avoid spurious regression. Then, using a stationary data, we did the regression analysis. As a result of the analysis, we found that the change of Bitcoin Closing Price has negative effects with search traffic of 'Bitcoin Ban' and US dollar index futures, while change of GPU vendors' stock price and change of WTI crude oil price showed positive effects. In case of 'Bitcoin Ban', it is directly determining the maintenance or abolition of Bitcoin trade, that's why consumer reacted sensitively and effected on change of Bitcoin Closing Price. GPU is raw material of Bitcoin mining. Generally, increasing of companies' stock price means the growth of the sales of those companies' products and services. GPU's demands increases are indirectly reflected to the GPU vendors' stock price. Making an interpretation, a rise in prices of GPU has put a crimp on the mining of Bitcoin. Consequently, GPU vendors' stock price effects on change of Bitcoin Closing Price. And we confirmed U.S. dollar index futures moved in the opposite direction with change of Bitcoin Closing Price. It moved like Gold. Gold was considered as a safe asset to consumers and it means consumer think that Bitcoin is a safe asset. On the other hand, WTI oil price went Bitcoin Closing Price's way. It implies that Bitcoin are regarded to investment asset like raw materials market's product. The variables that were not significant in the analysis were search traffic of bitcoin, search traffic of ransomware, search traffic of war, memory vendor's stock price, FOMC policy interest rates. In search traffic of bitcoin, we judged that interest in Bitcoin did not lead to purchase of Bitcoin. It means search traffic of Bitcoin didn't reflect all of Bitcoin's demand. So, it implies there are some factors that regulate and mediate the Bitcoin purchase. In search traffic of ransomware, it is hard to say concern of ransomware determined the whole Bitcoin demand. Because only a few people damaged by ransomware and the percentage of hackers requiring Bitcoins was low. Also, its information security problem is events not continuous issues. Search traffic of war was not significant. Like stock market, generally it has negative in relation to war, but exceptional case like Gulf war, it moves stakeholders' profits and environment. We think that this is the same case. In memory vendor stock price, this is because memory vendors' flagship products were not VRAM which is essential for Bitcoin supply. In FOMC policy interest rates, when the interest rate is low, the surplus capital is invested in securities such as stocks. But Bitcoin' price fluctuation was large so it is not recognized as an attractive commodity to the consumers. In addition, unlike the stock market, Bitcoin doesn't have any safety policy such as Circuit breakers and Sidecar. Through this study, we verified what factors effect on change of Bitcoin Closing Price, and interpreted why such change happened. In addition, establishing the characteristics of Bitcoin as a safe asset and investment asset, we provide a guide how consumer, financial institution and government organization approach to the cryptocurrency. Moreover, corroborating the factors affecting change of Bitcoin Closing Price, researcher will get some clue and qualification which factors have to be considered in hereafter cryptocurrency study.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.57
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• pp.283-303
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• 2013

When a trade conflict arises related to an officially supported export credit programme, The World Trade Organization(WTO), decides on whether the programme is a forbidden subsidy stipulated in the Agreement on Subsidies and Countervailing Measures(the ASCM Agreement). Korea was taken to the WTO panel two times for the export credit programme. One is the semiconductor case in 2002 and the other was the shipbuilding disputes in 2004. And, In 2012, the U.S. Commerce Department ruled K-SURE's export insurance for Korean refrigerator manufacturers as a forbidden subsidy even if the case was not taken to the WTO. This paper examines the significance of export credit programmes on the WTO ASCM Agreement and discusses how to operate these programmes so they would not infringe upon the Agreement by analyzing the actual cases of WTO subsidy conflicts that involved Korean enterprises in relation to export credit programmes for the purpose of determining the related issues and impacts. From this research the results were as follows: First, on whether export credit is a prohibited subsidy, the deciding factor was whether a benefit has been conferred to the beneficiary. On the presence of a benefit, the WTO panel used market benchmarks as the main criteria. Thus, official export credit agencies(ECAs) should be careful not to provide export credit support which had been granted to the beneficiary at better than market terms. Second, in the case of export credit, the special status of ECA as a public body receiving government support itself does not constitute a subsidy. However, caution must be taken not to provide export credit that may lead to WTO ASCM subsidy conflicts involving a certain exporter or industry by setting up clear and valid regulations and fair work processes in the operation of export credit programmes. Third, item (j) of Annex I cannot be interpreted reversely as this item is for interpreting the presence of a prohibited subsidy, not the presence of a benefit. Thus, an export credit program that confers a financial contribution, a benefit and specificity, could qualify as a prohibited subsidy. Fourth, ECAs not only have to maintain long-term account balance but also introduce additional measures to meet this long-term balance such as a clear and systematic premium system. Finally, export credit programmes that are not defined in item (j) of Annex I of the ASCM Agreement would not deemed as an prohibited export subsidy as long as the continued support of the programmes are not being forced.

• Journal of the Economic Geographical Society of Korea
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• v.16 no.4
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• pp.567-584
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• 2013

This study aims to explore an evolutionary path of the IT service industry in Fairfax County using the Cluster Adaptive Cycle model in economic geography. The analysis is based on detailed historical and industrial information obtained through a variety of data sources including local archival materials, economic census, and interviews. This study also performs a shift-share analysis during the period of 1990 to 2011. Using the adaptive cycle model, the local IT service industry is indicated by a trajectory of constant cluster mutation. The evolution of the local IT service industry has been closely related to federal government policy due to the regional specificity of the National Capital Region and the proximity of the Department of Defense. Although the economic downturn of the late 2000s, the local IT service industry has been notable resilience and adapted to a changing market and technological environment. This constant mutation of the local industry is resulted from not only high resilience which is based on the large government procurement market, the reinforcement of adaptive capacity of the local firms and the network of economic agents such as firm and supporting institutions, but also high flexibility of the knowledge-based service industry to a changing business environment.

• Informatization Policy
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• v.24 no.3
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• pp.91-107
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• 2017

Digital forensics is the process of uncovering and interpreting electronic data and materials found in digital device in relation to crime. The goal of the process is to preserve any evidence in its most original form which shall be having the force of law. The digital forensic market is increasing with a growth of ICT in domestic and global market. Many countries including U.S. are actively performing researched regarding a structured investigation by collecting, identifying and validating the digital information for the purpose of reconstructing past events which so does in academic society in Korea. This paper is to understand overall research trend about digital forensics and derive future strategy by integrating the result of meta-analysis into practices based on five criteria - main theme and topic, analysis phase, technical method for analysis, author's affiliation, and unit of analysis and method. 239 papers are analyzed, which were selected out of 470 papers published for 10 years (2007~2016) in academic journal on the list of KCI (Korea Citation index). The results of this analysis will be used to examine the characteristics of research in the field of digital forensics. The result of this research will contribute to understanding of the research trend and characteristics leading the technology-driven academia, through which measures for further research development and facilitation are suggested.

• International Area Studies Review
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• v.14 no.1
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• pp.55-76
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• 2010

This paper analyses interaction between yen/dollar exchange rates and NIKKEI index using bivariate GJR-GARCH(1,1) model. The data employed for the study is daily data series for the period of Jan. 4, 1995 through Aug. 30, 2009. One of main findings is that market inefficiency appears in the periods of financial crisis. Second, the volatility of exchange rates and stock returns has more increased in the wake of the volatility shock of the previous period during financial crisis than during non-financial crisis. Third, interestingly, the asymmetric volatility shock by bad news in those markets is bigger in financial crisis period than in non financial crisis. Fourth, in the period of current global financial crisis triggered by subprime mortgage crisis in U.S, volatility shock at the previous period is bigger than that of Asian financial crisis that happened in 1997. Lastly, the correlation between both returns of exchange rates and stock prices turns up positive according to the empirical estimation. This result may come from the fact that Japanese stock market does not have much attraction for international financial investment compared to stock markets of neighbouring countries like China, Korea and so on, while real sector's contribution to the economy is considered more importantly.

• Proceedings of the Technology Innovation Conference
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• 1998.06a
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• pp.116-127
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• 1998

The Necessity of Cyber University. Within the rapidly changing environment of global economics, the environment of higher education in the universities, also, has been, encountering various changes. Popularization on higher education related to 1lifetime education system, putting emphasis on the productivity of education services and the acquisition of competitiveness through the market of open education, the breakdown of the ivory tower and the Multiversitization of universities, importance of obtaining information in the universities, and cooperation between domestic and oversea universities, industry and educational system must be acquired. Therefore, in order to adequately cope wi th these kinds of rapid changes in the education environment, operating Cyber University by utilizing various information technologies and its fixations such as Internet, E-mail, CD-ROMs, Interact ive Video Networks (Video Conferencing, Video on Demand), TV, Cable etc., which has no time or location limitation, is needed. Using informal ion and telecommunication technologies, especially the Internet is expected to Or ing about many changes in the social, economics and educational area. Among the many changes scholars have predicted, the development and fixations of Distant Learning or Cyber University was the most dominant factor. In the case of U. S. A., Cyber University has already been established and in under operation by the Federate Governments of 13 states. Any other universities (around 500 universities has been opened until1 now), with the help of the government and private citizens have been able to partly operate the Cyber University and is planning on enlarging step-by-step in the future. It could be seen not only as U. S. A. trying to elevate its higher education through their leading information technologies, but also could be seen as their objective in putting efforts on subordinating the culture of the education worldwide. UTRA University in U. S. A., for example, is already exporting its class lectures to China, and Indonesia regions. Influenced by the Cyber University current in the U.S., the Universities in Korea is willing .to arrange various forms of Cyber Universities. In line with this, at JUNAM National University, internet based Cyber University, which has set about its work on July of 1997, is in the state of operating about 100 Cyber Universities. Also, in the case of Hanam University, the Distant Learning classes are at its final stage of being established; this is a link in the rapid speed project of setting an example by the Korean Government. In addition, the department of education has selected 5 universities, including Seoul Cyber Design University for experimentation and is in the stage of strategic operation. Over 100 universities in Korea are speeding up its preparation for operating Cyber University. This form of Distant Learning goes beyond the walls of universities and is in the trend of being diffused in business areas or in various training programs of financial organizations and more. Here, in the hope that this material would some what be of help to other Universities which are preparing for Cyber University, I would 1ike to introduce some general concepts of the components forming Cyber University and Open Education System which has been established by JUNAM University. System of Cyber University could be seen as a general solution offered by tile computer technologies for the management on the students, Lectures On Demand, real hour based and satellite classes, media product ion lab for the production of the multimedia Contents, electronic library, the Groupware enabling exchange of information between students and professors. Arranging general concepts of components in the aspect of Cyber University and Open Education, it would be expressed in the form of the establishment of Cyber University and the service of Open Education as can be seen in the diagram below.

• Journal of Korea Game Society
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• v.8 no.2
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• pp.25-35
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• 2008

Seunglamdonoli was a traditional board game played during the Chosun Dynasty. In this article, I interpret its features as a board game and discuss the possibility of turning it into a mass market game like Milton Bradley's 'The Game of Life' in the U.S. Seunglamdonoli uses the dice to determine movements around a board shaped like Korea, teaching players about important geographic locations, and traditional characters in a game that relies on strategy as well as luck. With appropriate changes such as introducing a standardized game board or digitalization for use on computers, Seunglamdonoli has potential to again become a popular pastime as well as become tool for learning about Korean history, geography, and society. Furthermore it can be adapted as an educational game for any location with minimal changes.

• The Research Journal of the Costume Culture
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• v.18 no.6
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• pp.1127-1137
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• 2010

As directly imported apparel brands are actively entering the domestic market, studies of the marketing aspects of these imported apparel products and their overall consumption trend have been done. However, studies of whether are not the directly imported apparel products provide Korean consumers with an appropriate fit are not as common. Therefore, this study investigates the satisfaction with and problems associated with the fit along with the recognition of and preference for directly imported US apparel brands. 100 female college students who purchased directly imported US apparel brands participated in a survey. The results of this survey showed that their recognition of, preference for, possession rate of and satisfaction with the directly imported US apparel brands tend to be high. The major purchasing motivations were the excellent 'design' and 'color' of the products. The subjects reported that they were satisfied with the quality of 'materials' and 'sewing condition'. However, they were not satisfied with the 'comfort' or the 'size'. Their level of satisfaction with the fit of these products differed depending on the specific item. Their level of satisfaction with the fit of T-shirts and knits was high, whereas the level for pants was relatively low. They complained mostly about the sleeve length and garment length of upper-body garments and coats. They were not satisfied with how the pants fit. The areas of dissatisfaction regarding the pants were the waist girth, the crotch length and the pants length.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.13
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• pp.1013-1032
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• 2000

At present, the scale of Electronic Commerce through internet has been rapidly increasing due to the development of information & communication technology, and aggregated to 2.4 billion dollar in America last year (1998). The market scale of worldwide electronic commerce is also presumed to be about 130 billion dollar in 2000, and to occupy more than 20% of the whole world trade in world 2020. Since the right of trademark, despite of being effective only in registered nations on the principle of territorialism, is unified on the cyber space of internet without domestic barrier or local limitation which make it easier to conduct the distribution of information rapidly through the address-internet domain name, those are very important that the systematic dispute-solving plan on problems such as decision of its Act and international jurisdiction to be established, in an effort to prevent the newly emerging dispute instances such as trademark infringement and improper competitiveness. In addition, it is natural that on the threshold of the electronic commerce age which formed with an unified area without the worldwide specific regulation, each country including us makes haste with the enactment of "electronic commerce Act" aiming at coming into force in 1999, in keeping with getting through "non-tariff law on electronic commerce" by U. S. parliament on May, 1998. In view of the properties of electronic commerce transactions through internet, there are the large curtailment of distributive channel, surmounting of restrictions on transaction area, space and time and the easy feedback with consumer and the cheap-required capital, from which the problems may arise - registration of trademark, the trademark infringement of domain name and the protection of prestigious trademark. Therefore, it is necessary to take the counter-measure, with a view of reviewing the infringement of trademark and domain name and the instances of each national precedent and to preventing the disputes. The improvement of the persistent system should be needed to propel the harmonious protection of those holding trademark right's credit and demanders' expectant profit by way of the righteous use of trademark.

• The Research Journal of the Costume Culture
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• v.23 no.2
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• pp.284-293
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• 2015

This study intends to analyze the fit of directly-imported American casual pants for Korean female college students in terms of appearance and comfortableness. The authors carried out a wearing test with sample pants from 3 brands (DKNY: A, Gap: B, Polo: C) that had the most market share and that were mostly preferred by Korean female college students. Results showed that pants A had insufficient ease in the crotch, as the depth of the crotch was short. The hip girth received a low assessment in terms of appearance. Moreover, the hem widths were wide while the pants length was long. Pants B were expected to be most appropriate for Korean women's bodies, as they had the longest crotch depth among the three brands. However, the pants appeared to pull downward due to the narrow thigh and the knee girth and hem width. Moreover, the crotch girth and hip girth received a poor appearance assessment. Pants C were rated as satisfactory for their thigh girth, knee girth, and hem width. However, the crotch was uncomfortable, as it had a short crotch depth. The hip girth received a low appearance assessment. This study suggests that a pattern adjustment is required for directly-imported American pants to provide a better fit for the bodies of Korean women. The crotch depths should be approximately 17.5 cm. The hem widths should be approximately 20 cm. We also suggest a leg length of 75 cm, a waist girth of 86 cm, and a hip girth of 97 cm.