• Economic Analysis
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• v.26 no.1
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• pp.84-132
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• 2020

A central bank infers market expectations of future yields based on yield curves. The central bank needs to precisely understand the changes in market expectations of future yields in order to have a more effective monetary policy. This need explains why a range of models have attempted to produce yield curves and market expectations that are as accurate as possible. Alongside the development of bond markets, the interconnectedness between them and macroeconomic factors has deepened, and this has rendered understanding of what macroeconomic variables affect yield curves even more important. However, the existence of various theories about determinants of yields inevitably means that previous studies have applied different macroeconomics variables when estimating yield curves. This indicates model uncertainties and naturally poses a question: Which model better estimates yield curves? Put differently, which variables should be applied to better estimate yield curves? This study employs the Dynamic Nelson-Siegel Model and takes the Bayesian approach to variable selection in order to ensure precision in estimating yield curves and market expectations of future yields. Bayesian variable selection may be an effective estimation method because it is expected to alleviate problems arising from a priori selection of the key variables comprising a model, and because it is a comprehensive approach that efficiently reflects model uncertainties in estimations. A comparison of Bayesian variable selection with the models of previous studies finds that the question of which macroeconomic variables are applied to a model has considerable impact on market expectations of future yields. This shows that model uncertainties exert great influence on the resultant estimates, and that it is reasonable to reflect model uncertainties in the estimation. Those implications are underscored by the superior forecasting performance of Bayesian variable selection models over those models used in previous studies. Therefore, the use of a Bayesian variable selection model is advisable in estimating yield curves and market expectations of yield curves with greater exactitude in consideration of the impact of model uncertainties on the estimation.

• The Journal of Korean Philosophical History
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• no.25
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• pp.223-249
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• 2009

This papers focuses on the Confucian classics for the correct orientation of education as a basic task of the Confucian classics will as a necessary whether the need for education, to identify the natural history study will attempt to have. In East Asia means that classics, the classicalization process of looking at Chinese culture, classicalization of review of the cultural meaning. And this papers focuses on the historical evolution of education, and education in China and Korea in the modern world the meaning of the Confucian classics education about and looked at two dilemmas. And outside the scope of Confucian five ethical thoughts as main moral to find new values and new interpretations about the legitimacy and philosophical thinking of the meaning of the Confucian classics Education. In addition, the development of educational content to the new Confucian classics on the subject of three applies to the existing approach and to propose a new type of comparison?Review. As primitive Confucian classics is not determined by a priori, the modern understanding of the Confucian classics also thorough review process of reflection and understanding the new system will have to be reconfigured. Furthermore, in the richness of modern society as the training methods as well as the development of relevant content for the modern society that values education's development is a very important issue. In this respect, should not be overlooked here is not about education, the effect of Confucian classics is concerned about the review. To this, first of all the Confucian classics need education about the content and strict screening operation. In addition, the ability to function in modern society, modern reinterpreted and the need to find a new educational element is. Because we did not give a realistic benefits and future view and any history or civilization, is always disappear in history. This series of problems will be a reason of require that philosophical thinking of Confucian classics education.

• Journal of the Daesoon Academy of Sciences
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• v.44
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• pp.141-175
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• 2023

This comparative study combines the methodologies of comparative research and literature review to examine Daesoon Thought. Comparative religious analysis in the social sciences, does not presuppose an a priori framework of the essence of religion because it targets various aspects of religion which are revealed within a historical field. However, it does not decompose and return to psychological or social phenomena like social sciences. In addition, with the emergence of religious pluralism, the climate of focusing on similarities between religions has already been accomplished to some degree. Furthermore, it is worth noting that many spiritual movements in modern spirituality reveal mixed or amorphous characteristics without being restricted by specific religious membership. It is time to overcome instrumentation and restore the transcendence of its original appearance even in secular humanist reasoning. It can be said that this reveals the perception that the ills and crises of modern civilization should be overcome in connection with the opening of the acquired world of Daesoon Thought. It could further be said that the main culprit of evil behavior is instrumental reason or degenerated reason rather than spirituality. Religion is the intellectual crystalline body of humankind and aims at human perfection and salvation. However, extremists in previous times amplified conflicts between religions and formed ideas suitable for their specific regions through different experiences. This generated mental rifts that proved greatly influential. At the time of initial inception, each religion confronted and fought other ideologies, but when the era of religious pluralism began, the necessity for inter-spiritual communication became urgent. It could be said that happiness is the realization of human spirituality by exploring the vision of humanism. In that case, the combined methodologies of comparative research and literature review reveal that the spirituality of Daesoon Thought would enable a humanism based on human dignity. This would be a path for seeking spirituality through human life and living as a true human being. Spiritual humanism as discussed through this study aims to share the problems of modern civilization and provide a critical view of modern civilization that shows the roots of prevailing thought are stuck in a Cartesian dualistic view of humanity and the world. The type of spiritual humanism to examined here focuses on a cosmotheandric vision by considering the spiritual return to Daoism via Daesoon Thought. This would treat human beings like heaven in alignment with Donghak ideology and honor the human dignity proposed by Daesoon Thought. It would also deliver sentient beings from suffering and to bliss in accordance with the aims of faith in Maitreya Buddha, and it would implement the Resolution of Grievances for Mutual Beneficence in fulfillment of Daesoon Thought.

• Journal of Korea Entertainment Industry Association
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• v.13 no.6
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• pp.211-220
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• 2019

It helps to wisely abstain from errors of the a priori subjective emotions related to human emotions, and orders emotions to make rational choices. These emotional happiness of human and moral sensitivities work directly or indirectly in rational choice of rational thought and reason. Abraham would have been troubled by the divine mandate to sacrifice a son who was only one, and a son who had been healed. Was his reason reasonable at this time? In rational reason, it can be said that the act of dedicating his son is an appropriate act, but is it possible in the human mind? Aristoteles also called human virtue virtue in good for human beings. Because happiness is also a mental activity, we have to know a certain degree about the mind. This ψυχή(psyche, spirit) spirit is an irrational element that is invisible but an intervention in rational principles. Also C. G. Jung states that all human beings have four dynamic psychological functions that are not visible, and that the mind is driven by these four functional dimensions. This means that the elements of S, Sensing, N, Intuition, T, Thinking, and Feeling are combined. David Hume also emphasized the principle of empathy, asserting that morality can not be derived from reason, and Max Ferdinand Scheler, before grasping the visual characteristics of a person, has already captured the whole feeling of the person, And that the value given to this feeling is the value, and that the function of emotion that is elevated to the perceived object by grasping the value through this process and the value is always preceded by the reason. Emmanuel Levinas states that emotional emotions of love are ahead of reason and that emotions precede human reasoning and rationality is the inability of emotional control that we need rational thought and rational and wise action as reason of control and temperance. As part of human emotional education, in the 7th curriculum, Bloom's cognitive, perceptive, and behavioral domain, which is a person with integrated thinking, is trying to be a moral practitioner. It focuses on how to act according to the direction of emotions for virtuous acts and how to develop emotions for emotions on behalf of vicious acts. We can design the possibility and direction of cultivating human emotions and emotional happiness and happy sensitivities by the principle of strengthening virtue and the principle of elimination of ill feeling.

• Korean Journal of Agricultural and Forest Meteorology
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• v.25 no.1
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• pp.1-16
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• 2023

As the Intergovernmental Panel on Climate Change (IPCC) emphasized the transition to a carbon-neutral society globally by 205 0, major countries such as Korea, Japan, and Europe declared carbon-neutral goals. The agricultural sector is a carbon-absorbing sector, and its importance has increased as the General Assembly of the Parties to the Climate Change Convention (COP 26) held in the UK in November 2021 emphasized the role of agriculture to discuss climate change. However, GHG reduction projects in the agricultural sector are not properly monitored considering the domestic situation, and a system for quantitative evaluation of the effectiveness or basis of implementing the project program is not in place. Therefore, a priori study is needed to understand the current status of existing policies and to review matters that need to be improved in order to facilitate policy design, implementation, and monitoring for GHG reduction in the agricultural sector. The purpose of this study is to examine the opinions of stakeholders by applying a semi-structured interview method to diagnose the current status of Korea's GHG reduction policy in the agricultural sector and identify factors that hinder policy implementation. As a result of the semi-structured interview, this study presented factors that hinder the promotion of GHG reduction policies in the agricultural sector according to four types of data and technology, finance, institutions, and perceptions. Some stakeholders also stressed that the pilot project could be helpful as a way to comprehensively consider the implications of this study, such as securing technology data, establishing a system for verifying effectiveness, and providing incentives and promoting them. Rather than drawing specific conclusions, this study is an exploratory study that diagnoses and reviews the progress of GHG reduction policies, and it can be used as useful basic data if it secures enough interview respondents and balances the number of samples by group.

• Journal of Korean Society for Atmospheric Environment
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• v.28 no.3
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• pp.233-248
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• 2012

The national emission from energy sector accounted for 84.7% of all domestic emissions in 2007. Of the energy-use emissions, the emission from mobile source as one of key categories accounted for 19.4% and further the road transport emission occupied the most dominant portion in the category. The road transport emissions can be estimated on the basis of either the fuel consumed (Tier 1) or the distance travelled by the vehicle types and road types (higher Tiers). The latter approach must be suitable for simultaneously estimating $CO_2$, $CH_4$, and $N_2O$ emissions in local administrative districts. The objective of this study was to estimate 31 municipal GHG emissions from road transportation in Gyeonggi Province, Korea. In 2008, the municipalities were consisted of 2,014 towns expressed as Dong and Ri, the smallest administrative district unit. Since mobile sources are moving across other city and province borders, the emission estimated by fuel sold is in fact impossible to ensure consistency between neighbouring cities and provinces. On the other hand, the emission estimated by distance travelled is also impossible to acquire key activity data such as traffic volume, vehicle type and model, and road type in small towns. To solve the problem, we applied a hierarchical cluster analysis to separate town-by-town road patterns (clusters) based on a priori activity information including traffic volume, population, area, and branch road length obtained from small 151 towns. After identifying 10 road patterns, a rule building expert system was developed by visual basic application (VBA) to assort various unknown road patterns into one of 10 known patterns. The expert system was self-verified with original reference information and then objects in each homogeneous pattern were used to regress traffic volume based on the variables of population, area, and branch road length. The program was then applied to assign all the unknown towns into a known pattern and to automatically estimate traffic volumes by regression equations for each town. Further VKT (vehicle kilometer travelled) for each vehicle type in each town was calculated to be mapped by GIS (geological information system) and road transport emission on the corresponding road section was estimated by multiplying emission factors for each vehicle type. Finally all emissions from local branch roads in Gyeonggi Province could be estimated by summing up emissions from 1,902 towns where road information was registered. As a result of the study, the GHG average emission rate by the branch road transport was 6,101 kilotons of $CO_2$ equivalent per year (kt-$CO_2$ Eq/yr) and the total emissions from both main and branch roads was 24,152 kt-$CO_2$ Eq/yr in Gyeonggi Province. The ratio of branch roads emission to the total was 0.28 in 2008.

• Geophysics and Geophysical Exploration
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• v.10 no.4
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• pp.383-392
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• 2007

Karstic features and mining-related cavities not only lead to severe restrictions in land utilizations, but also constitute serious concern about geohazard and groundwater contamination. A microgravity survey was applied for detecting, mapping and monitoring karstic cavities in the test site at Muan prepared by KIGAM. The gravity data were collected using an AutoGrav CG-3 gravimeter at about 800 stations by 5 m interval along paddy paths. The density distribution beneath the profiles was drawn by two dimensional inversion based on the minimum support stabilizing functional, which generated better focused images of density discontinuities. We also imaged three dimensional density distribution by growing body inversion with solution from Euler deconvolution as a priori information. The density image showed that the cavities were dissolved, enlarged and connected into a cavity network system, which was supported by drill hole logs. A time-lapse microgravity was executed on the road in the test site for monitoring the change of the subsurface density distribution before and after grouting. The data were adjusted for reducing the effects due to the different condition of each survey, and inverted to density distributions. They show the change of density structure during the lapsed time, which implies the effects of grouting. This case history at the Muan test site showed that the microgravity with accuracy and precision of ${\mu}Gal$ is an effective and practical tool for detecting, mapping and monitoring the subsurface cavities.

• Asia Marketing Journal
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• v.12 no.2
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• pp.1-25
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• 2010

Motion pictures are so typical experience goods that consumers tend to look for more credible information. Hence, movie audiences consider movie viewers' reviews more important than the information provided by the film distributor. Recently many portal sites allow consumers to post their reviews and opinions so that other people check the number of consumer reviews and scores before going to the theater. There are a few previous researches studying the electronic word of mouth(eWOM) effect in the movie industry. They found that the volume of eWOM influenced the revenue of the movie significantly but the valence of eWOM did not affect it much (Liu 2006). The goal of our research is also to investigate the eWOM effects in general. But our research is different from the previous studies in several aspects. First, we study the eWOM effect in Korean movie industry. In other words, we would like to check whether we can generalize the results of the previous research across countries. The similar econometric models are applied to Korean movie data that include 746,282 consumer reviews on 439 movies. Our results show that both the valence(RATING) and the volume(LNMSG) of the eWOM influence weekly movie revenues. This result is different from the previous research findings that the volume only influences the revenue. We conjectured that the difference of self construal between Asian and American culture may explain this difference (Kitayama 1991). Asians including Koreans have more interdependent self construal than American, so that they are easily affected by other people's thought and suggestion. Hence, the valence of the eWOM affects Koreans' choice of the movie. Second, we find the critical defect of the previous eWOM models and, hence, attempt to correct it. The previous eWOM model assumes that the volume of eWOM (LNMSG) is an independent variable affecting the movie revenue (LNREV). However, the revenue can influence the volume of the eWOM. We think that treating the volume of eWOM as an independent variable a priori is too restrictive. In order to remedy this problem, we employed a simultaneous equation in which the movie revenue and the volume of the eWOM can affect each other. That is, our eWOM model assumes that the revenue (LNREV) and the volume of eWOM (LNMSG) have endogenous relationship where they influence each other. The results from this simultaneous equation model showed that the movie revenue and the eWOM volume interact each other. The movie revenue influences the eWOM volume for the entire 8 weeks. The reverse effect is more complex. Both the volume and the valence of eWOM affect the revenue in the first week, but only the volume affect the revenue for the rest of the weeks. In the first week, consumers may be curious about the movie and look for various kinds of information they can trust, so that they use the both the quantity and quality of consumer reviews. But from the second week, the quality of the eWOM only affects the movie revenue, implying that the review ratings are more important than the number of reviews. Third, our results show that the ratings by professional critics (CRATING) had negative effect to the weekly movie revenue (LNREV). Professional critics often give low ratings to the blockbuster movies that do not have much cinematic quality. Experienced audiences who watch the movie for fun do not trust the professionals' ratings and, hence, tend to go for the low-rated movies by them. In summary, applied to the Korean movie ratings data and employing a simultaneous model, our results are different from the previous eWOM studies: 1) Koreans (or Asians) care about the others' evaluation quality more than quantity, 2) The volume of eWOM is not the cause but the result of the revenue, 3) Professional reviews can give the negative effect to the movie revenue.

• Journal of Korean Philosophical Society
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• v.137
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• pp.151-191
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• 2016

Kant and Lacan strongly criticized the epistemological premise of formal logic. However, Lacan was opposed to Kant in terms of subject, object, knowledge and truth. From the viewpoint of Kant's transcendental logic, formal logic does not have the ability to represent the nature of truth. On the other hand, from the viewpoint of Lacan's psychoanalytic logic, Kant's transcendental logic misunderstands or only partially represents the state of things. But I would like to try to criticize the epistemological premise of the two forms of logic. Transcendental logic takes the evident and new function in that it has studied the necessary condition of content rather than the form of thinking which formal logic considers as his object of study. Transcendental logic evidently studies the categories which dominate our way of thinking. Can we say that the 12 categories which Kant provided are sufficient in explaining the necessity of thinking? Lacan's psychoanalytic logics tells us that Kant's categories are only a kind of metaphor related with hypothesis that tries to explain the possibility of synthetical judge a priori. Is Lacan's psychoanalytic logic sufficient in explaining the possibility of science? It is not sufficient in explaining the objectivity and strictness of science, for it depends on metaphor and metonymy which are useful to literature and unconsciousness. I would like to try to synthesize Kant's transcendental and Lacan's psychoanalytic logic in terms of structure-constructivism which combines both formal and dialectical logic, which is consistent with the ideal of human science, and not blinkered science. My conclusion is that Kant's ethical and esthetical theory should be modified though Lacan's psychoanalytic logic, and Lacan's theory of the unconsciousness revised by Kant's transcendental logic.

• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.3-36
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• 1992

"Corporate control by owners" characterizes the current structure of ownership, control and management of big business groups in Korea. It has become an ever more serious obstacle for the Korean economy to end its distinctive "personal capitalism" and to transform the current system into people's capitalism. The current issue, the deconcentration of ownership, through the course of heated debates should be treated from an integrated perspective. That is, the debate should center on the concentration of economic power and it effects on national economy, instead of sticking to the issue of ownership-control issue per se. This paper, by referring to the historical experiences and development paths which advanced countries have already traveled, analyzes the respective aspects of the concentration issue in a rather descriptive and taxonomist manner - market concentration, business diversification, ownership concentration, integrated management of conglomerates, i.e., managing in groups' unit, and the roles of financial institutions. The government policies against the concentration of economic power have so far focused on the size of big business groups and their diversification activities. The two major policy measures are restrictions on cross-ownership and excess capital investment by big business groups, and controls on their credit deals. This paper strongly suggests that the government should change its current priorities in targeting its policies against concentration. The government should reduce the regulations on size and diversification, and focus its policies on substantial dispersion of corporate ownership. The efficacy of government intervention in the management and control of business enterprises seems quite dubious and even anachronistic given the extent of maturity of Korean firms. Therefore, it should be noted that the current regulation-oriented stance taken by the government against the management style of big business groups should be suppressed, as it has assumed some a priori and typical pattern in advance in directing big business groups, such as independent and specialized management in respective firms' unit. This paper, also, raises the need for introducing new regulations on inter-sectoral diversifications between finance, industry and the press.