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Survey on Radiotherpv Protocols for the Rectal Cancers Among the Korean Radiation Oncologists in 2002 for the Development of the Patterns of Care Study of Radiation Therapy (방사선치료 Patterns of Care Study 개발을 위한 2002년 한국 방사선종양학과 전문의들의 직장암 방사선치료 원칙 조사연구)

  • Kim, Jong-Hoon;Kim, Dae-Yong;Kim, Young-Ho;Kim, Woo-Chul;Kim, Chul-Yong;Sung, Jin-Shil;Son, Seung-Chang;Shin, Hyun-Su;An, Young-Chan;Oh, Do-Hum;Oh, One-Yong;Yu, Mi-Ryung;Yu, Hung-Jun
    • Radiation Oncology Journal
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    • v.21 no.1
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    • pp.44-65
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    • 2003
  • Purpose : To conduct nationwide surgery on the principles In radiotherapy for rectal center, and develop the framework of a database of Korean Patterns of Care Study. Materials and Methods : A consensus committee was established to develop a tool for measuring the Patterns in radiotherapy Protocols for rectal cancer. The Panel was composed of radiation oncologists from 18 hospitals in Seoul Wetropolltan area. The committee developed a survey format to analyze radiation oncologist's treatment principles for rectal cancer. The survey items developed for measuring the treatment principles were composed of 1) 8 eliglblllty criteria, 2) 20 Items for staging work-ups and prognostic factors, 3) 7 Items for principles of combined surgery and chemotherapy, 4) 9 patient set-ups, 5) 19 determining radiation fields, 6) S radiotherapy treatment pians, 7) 4 physicalilaboratory examination to monitor a patient's condition during treatment, and 8) 10 follow-up evaluations. These items were sent to radiation oncoioglsts In charge of gastrolntestlnal malignancies in all hospitals (48 hospitals) In Korea to which 30 replies were received (63$\%$). Results : Most of the surrey Items were replied to without no major between the repliers, but with the fellowing items only 50$\%$ of repliers were in agreement : 1) Indications of preoperative radiation, 2) use of endorectal ultrasound, CT scan, and bone scan for staging work-ups, 3) principles of combining chemotherapy with radiotherapy, 4) use of contrast material for small bowel delineation during simulation, 5) determination of field margins, and 6) use of CEA and colonoscopy for follow-up evaluations. Conclusions : The Items where considerable disaggrement was shown among the radiation oncologists seemed to make no serious difference In the treatment outcome, but a practical and reasonable consensus should be reached by the committee, with logical processes of agreement. These Items can be used for a basic database for the Patterns of Care Study, which will survey the practical radiotherapy Patterns for rectal cancer in Korea.

Fluid Inclusions Trapped in Xenoliths from the Lower Crust/upper Mantle Beneath Jeju Island (I): A Preliminary Study (제주도의 하부지각/상부맨틀 기원의 포획암에 포획된 유체포유물: 예비연구)

  • Yang, Kyounghee
    • The Journal of the Petrological Society of Korea
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    • v.13 no.1
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    • pp.34-45
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    • 2004
  • This paper describes the textural relations of mantle xenoliths and fluid inclusions in mantle-derived rocks found in alkaline basalts from Jeju Island which contain abundant ultramafic, felsic, and cumulate xenoliths. Most of the ultramafic xenoliths are spinel-lherzolites, composed of olivine, orthopyroxene, clinopyroxene and spinel. The felsic xenoliths considered as partially molten buchites consist of quartz and plagioclase with black veinlets, which are the product of ultrahigh-temperature metamorphism of lower crustal materials. The cumulate xenoliths, clinopyroxene-rich or clinopyroxene megacrysts, are also present. Textural examination of these xenoliths reveals that the xenoliths are typically coarse grained with metamorphic characteristics, testifying to a complex history of evolution of the lower crust/upper mantle source region. The ultramafic xenoliths contain protogranular, porphyroclastic and equigranular textures with annealing features, indicating the presence of shear regime in upper mantle of the Island. The preferential associations of spinel and olivine with large orthopyroxenes suggest a previous high temperature equilibrium in the high-Al field and the original rock-type was a Al-rich orthopyroxene-bearing peridotite without garnet. Three types of fluid inclusions trapped in mantle-derived xenoliths include CO$_2$-rich fluid (Type I), multiphase silicate melt (glass ${\pm}$ devitrified crystals ${\pm}$ one or more daughter crystals + one or more vapor bubbles) (Type II), and sulfide (melt) inclusions (Type III). C$_2$-rich inclusions are the most abundant volatile species in mantle xenoliths, supporting the presence of a separate CO$_2$-rich phase. These CO$_2$-rich inclusions are spatially associated with silicate and sulfide melts, suggesting immiscibility between them. Most multiphase silicate melt inclusions contain considerable amount of silicic glass. reflecting the formation of silicic melts in the lower crust/upper mantle. Combining fluid and melt inclusion data with conventional petrological and geochemical information will help to constrain the fluid regime, fluid-melt-mineral interaction processes in the mantle of the Korean Peninsula and pressure-temperature history of the host xenoliths in future studies.

A Study on derivation of drought severity-duration-frequency curve through a non-stationary frequency analysis (비정상성 가뭄빈도 해석 기법에 따른 가뭄 심도-지속기간-재현기간 곡선 유도에 관한 연구)

  • Jeong, Minsu;Park, Seo-Yeon;Jang, Ho-Won;Lee, Joo-Heon
    • Journal of Korea Water Resources Association
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    • v.53 no.2
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    • pp.107-119
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    • 2020
  • This study analyzed past drought characteristics based on the observed rainfall data and performed a long-term outlook for future extreme droughts using Representative Concentration Pathways 8.5 (RCP 8.5) climate change scenarios. Standardized Precipitation Index (SPI) used duration of 1, 3, 6, 9 and 12 months, a meteorological drought index, was applied for quantitative drought analysis. A single long-term time series was constructed by combining daily rainfall observation data and RCP scenario. The constructed data was used as SPI input factors for each different duration. For the analysis of meteorological drought observed relatively long-term since 1954 in Korea, 12 rainfall stations were selected and applied 10 general circulation models (GCM) at the same point. In order to analyze drought characteristics according to climate change, trend analysis and clustering were performed. For non-stationary frequency analysis using sampling technique, we adopted the technique DEMC that combines Bayesian-based differential evolution ("DE") and Markov chain Monte Carlo ("MCMC"). A non-stationary drought frequency analysis was used to derive Severity-Duration-Frequency (SDF) curves for the 12 locations. A quantitative outlook for future droughts was carried out by deriving SDF curves with long-term hydrologic data assuming non-stationarity, and by quantitatively identifying potential drought risks. As a result of performing cluster analysis to identify the spatial characteristics, it was analyzed that there is a high risk of drought in the future in Jeonju, Gwangju, Yeosun, Mokpo, and Chupyeongryeong except Jeju corresponding to Zone 1-2, 2, and 3-2. They could be efficiently utilized in future drought management policies.

Switching and Leakage-Power Suppressed SRAM for Leakage-Dominant Deep-Submicron CMOS Technologies (초미세 CMOS 공정에서의 스위칭 및 누설전력 억제 SRAM 설계)

  • Choi Hoon-Dae;Min Kyeong-Sik
    • Journal of the Institute of Electronics Engineers of Korea SD
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    • v.43 no.3 s.345
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    • pp.21-32
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    • 2006
  • A new SRAM circuit with row-by-row activation and low-swing write schemes is proposed to reduce switching power of active cells as well as leakage one of sleep cells in this paper. By driving source line of sleep cells by $V_{SSH}$ which is higher than $V_{SS}$, the leakage current can be reduced to 1/100 due to the cooperation of the reverse body-bias. Drain Induced Barrier Lowering (DIBL), and negative $V_{GS}$ effects. Moreover, the bit line leakage which may introduce a fault during the read operation can be eliminated in this new SRAM. Swing voltage on highly capacitive bit lines is reduced to $V_{DD}-to-V_{SSH}$ from the conventional $V_{DD}-to-V_{SS}$ during the write operation, greatly saving the bit line switching power. Combining the row-by-row activation scheme with the low-swing write does not require the additional area penalty. By the SPICE simulation with the Berkeley Predictive Technology Modes, 93% of leakage power and 43% of switching one are estimated to be saved in future leakage-dominant 70-un process. A test chip has been fabricated using $0.35-{\mu}m$ CMOS process to verify the effectiveness and feasibility of the new SRAM, where the switching power is measured to be 30% less than the conventional SRAM when the I/O bit width is only 8. The stored data is confirmed to be retained without loss until the retention voltage is reduced to 1.1V which is mainly due to the metal shield. The switching power will be expected to be more significant with increasing the I/O bit width.

Excimer-Based White Phosphorescent OLEDs with High Efficiency

  • Yang, Xiaohui;Wang, Zixing;Madakuni, Sijesh;Li, Jian;Jabbour, Ghassan E.
    • 한국정보디스플레이학회:학술대회논문집
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    • 2008.10a
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    • pp.1520-1521
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    • 2008
  • There are several ways to demonstrate white organic light emitting diodes (OLEDs) for displays and solid state lighting applications. Among these approaches are the stacked three primary or two complementary colors light-emitting layers, multiple-doped emissive layer, and excimer and exciplex emission [1-10]. We report on white phosphorescent excimer devices by using two light emitting materials based on platinum complexes. These devices showed a peak EQE of 15.7%, with an EQE of 14.5% (17 lm/W) at $500\;cd/m^2$, and a noticeable improvement in both the CIE coordinates (0.381, 0.401) and CRI (81). Devices with the structure ITO/PEDOT:PSS/TCTA (30 nm)/26 mCPy: 12% FPt (10 nm) /26 mCPy: 2% Pt-4 (15 nm)/BCP (40 nm)/CsF/Al [device 1], ITO/PEDOT:PSS/TCTA (30 nm)/26 mCPy: 2% Pt-4 (15 nm)/26 mCPy: 12% FPt (10 nm)/BCP (40 nm)/CsF/Al [device 2], and ITO/PEDOT:PSS/TCTA (30 nm)/26 mCPy: 2% Pt-4: 12% FPt (25 nm)/BCP (40 nm)/CsF/Al [device 3] were fabricated. In these cases, the emissive layer was either the double-layer of 26 mCPy:12% FPt and 15 nm 26 mCPy: 2% Pt-4, or the single layer of 26mCPy with simultaneous doping of Pt-4 and FPt. Device characterization indicates that the CIE coordinates/CRI of device 2 were (0.341, 0.394)/75, (0.295, 0.365)/70 at 5 V and 7 V, respectively. Significant change in EL spectra with the drive voltage was observed for device 2 indicating a shift in the carrier recombination zone, while relatively stable EL spectra was observed for device 1. This indicates a better charge trapping in Pt-4 doped layers [10]. On the other hand, device 3 having a single light-emitting layer (doped simultaneously) emitted a board spectrum combining emission from the Pt-4 monomer and FPt excimer. Moreover, excellent color stability independent of the drive voltage was observed in this case. The CIE coordinates/CRI at 4 V ($40\;cd/m^2$) and 7 V ($7100\;cd/m^2$) were (0.441, 0.421)/83 and (0.440, 0.427)/81, respectively. A balance in the EL spectra can be further obtained by lowering the doping ratio of FPt. In this regard, devices with FPt concentration of 8% (denoted as device 4) were fabricated and characterized. A shift in the CIE coordinates of device 4 from (0.441, 0.421) to (0.382, 0.401) was observed due to an increase in the emission intensity ratio of Pt-4 monomer to FPt excimer. It is worth noting that the CRI values remained above 80 for such device structure. Moreover, a noticeable stability in the EL spectra with respect to changing bias voltage was measured indicating a uniform region for exciton formation. A summary of device characteristics for all cases discussed above is shown in table 1. The forward light output in each case is approximately $500\;cd/m^2$. Other parameters listed are driving voltage (Bias), current density (J), external quantum efficiency (EQE), power efficiency (P.E.), luminous efficiency (cd/A), and CIE coordinates. To conclude, a highly efficient white phosphorescent excimer-based OLEDs made with two light-emitting platinum complexes and having a simple structure showed improved EL characteristics and color properties. The EQE of these devices at $500\;cd/m^2$ is 14.5% with a corresponding power efficiency of 17 lm/W, CIE coordinates of (0.382, 0.401), and CRI of 81.

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Online news-based stock price forecasting considering homogeneity in the industrial sector (산업군 내 동질성을 고려한 온라인 뉴스 기반 주가예측)

  • Seong, Nohyoon;Nam, Kihwan
    • Journal of Intelligence and Information Systems
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    • v.24 no.2
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    • pp.1-19
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    • 2018
  • Since stock movements forecasting is an important issue both academically and practically, studies related to stock price prediction have been actively conducted. The stock price forecasting research is classified into structured data and unstructured data, and it is divided into technical analysis, fundamental analysis and media effect analysis in detail. In the big data era, research on stock price prediction combining big data is actively underway. Based on a large number of data, stock prediction research mainly focuses on machine learning techniques. Especially, research methods that combine the effects of media are attracting attention recently, among which researches that analyze online news and utilize online news to forecast stock prices are becoming main. Previous studies predicting stock prices through online news are mostly sentiment analysis of news, making different corpus for each company, and making a dictionary that predicts stock prices by recording responses according to the past stock price. Therefore, existing studies have examined the impact of online news on individual companies. For example, stock movements of Samsung Electronics are predicted with only online news of Samsung Electronics. In addition, a method of considering influences among highly relevant companies has also been studied recently. For example, stock movements of Samsung Electronics are predicted with news of Samsung Electronics and a highly related company like LG Electronics.These previous studies examine the effects of news of industrial sector with homogeneity on the individual company. In the previous studies, homogeneous industries are classified according to the Global Industrial Classification Standard. In other words, the existing studies were analyzed under the assumption that industries divided into Global Industrial Classification Standard have homogeneity. However, existing studies have limitations in that they do not take into account influential companies with high relevance or reflect the existence of heterogeneity within the same Global Industrial Classification Standard sectors. As a result of our examining the various sectors, it can be seen that there are sectors that show the industrial sectors are not a homogeneous group. To overcome these limitations of existing studies that do not reflect heterogeneity, our study suggests a methodology that reflects the heterogeneous effects of the industrial sector that affect the stock price by applying k-means clustering. Multiple Kernel Learning is mainly used to integrate data with various characteristics. Multiple Kernel Learning has several kernels, each of which receives and predicts different data. To incorporate effects of target firm and its relevant firms simultaneously, we used Multiple Kernel Learning. Each kernel was assigned to predict stock prices with variables of financial news of the industrial group divided by the target firm, K-means cluster analysis. In order to prove that the suggested methodology is appropriate, experiments were conducted through three years of online news and stock prices. The results of this study are as follows. (1) We confirmed that the information of the industrial sectors related to target company also contains meaningful information to predict stock movements of target company and confirmed that machine learning algorithm has better predictive power when considering the news of the relevant companies and target company's news together. (2) It is important to predict stock movements with varying number of clusters according to the level of homogeneity in the industrial sector. In other words, when stock prices are homogeneous in industrial sectors, it is important to use relational effect at the level of industry group without analyzing clusters or to use it in small number of clusters. When the stock price is heterogeneous in industry group, it is important to cluster them into groups. This study has a contribution that we testified firms classified as Global Industrial Classification Standard have heterogeneity and suggested it is necessary to define the relevance through machine learning and statistical analysis methodology rather than simply defining it in the Global Industrial Classification Standard. It has also contribution that we proved the efficiency of the prediction model reflecting heterogeneity.

Strategy and Basic Planning for Creating an Urban Agricultural Park -Focusing on Gosangol Village in Daegu City- (도시농업공원 조성을 위한 전략 및 기본계획 연구 - 대구광역시 고산골마을을 대상으로 -)

  • Lee, Jong-Il;Kwon, Jin-Wook
    • Journal of the Korean Institute of Landscape Architecture
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    • v.45 no.4
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    • pp.23-34
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    • 2017
  • This study focused on a planned site located in Gosangol Village in Daegu Metropolitan City that aims to build an urban agricultural park combining urban agriculture and urban park for the sustainable realization of urban agriculture. Accordingly, this study has significance in two perspectives: firstly, suggesting development strategies to be considered when building an urban agricultural park as a theme park, and secondly, presenting guidelines for spatial programs and facilities to be introduced for actual applications. The results are as follows. Firstly, building an urban agricultural park fills a role as a local community space prompted by the demand-oriented evolution of urban parks, and agricultural behaviors to be incorporated in the theme. In this context, 'building an urban agricultural space focusing on sustainability', 'constructing green space systems focusing on agricultural landscape', and 'structuring leisure spaces for communications in the community' are presented as development strategies. Secondly, key functions that an urban agricultural park should have include production and trade of agricultural products on the production side, soil preservation, resource cycling and green space provision on the environmental side, leisure and experience, community vitalization, education, and social security on the social and cultural side, and entertainment functions, ecological functions, and protective functions as urban park functionality. Thirdly, key facilities needed when building an urban agricultural park include urban agricultural facilities other than park management facilities, landscape facilities, recreational facilities, sports facilities, educational facilities, and convenient facilities, and family gardens as the key facility of the urban agricultural park should be scaled in consideration of various purposes and behaviors of their use. This study has a limitation that the subject site was limited to a specific area but has significance in that it presented a planning model for the spatial structuring of park-type urban agriculture.

The Risk Implication of Ownership Structure: Focused on Korean Life Insurance Companies (유배당보험상품에 대한 재무론적 분석)

  • Lee, Kun-Ho;Wee, Kyeong-Woo;Jun, Sang-Gyung
    • The Korean Journal of Financial Management
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    • v.24 no.2
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    • pp.147-181
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    • 2007
  • Our article investigates the risk implication of ownership structure in life insurance companies. We set up a model to identify the priority structure of policyholder's and shareholder's cashflow claims, and to derive its implications. Current literature on this issue has focused on the agency paradigm or the risk-sharing efficiency. Fama and Jensen(1983a, 1983b) and Mayers and Smith(1981, 1986, 1988, 1990, 1994) argue that the survival of both the corporate and the mutual form of organization is due in part to the relative efficiencies in controlling agency problems. With regard to insurance business, agency problems arise because of the three functions inherent in the organizations:manager, risk-bearer(owner), and policyholder. Stock insurers are characterized by the potentially complete separation of all three functions while mutual insurers merger the policyholder with the ownership function. Doherty and Dionne(1993) and Doherty(1991) concentrate their analysis on differences in the efficiency of risk sharing between participating and non-participating policies. They argue that when the undiversifiable risk has higher portion in business risk, combining policy and equity claims into a single package is a more efficient risk-sharing contract than a simple prepaid risk-transfer. Among various methods for assembling the policy/equity package, Doherty and Dionne(1993) and Doherty(1991) suggest that policy/equity package offered by the mutual is the most efficient risk-sharing arrangement. There has been a controversy on the property of participating policies sold by life insurance corporations in Korea. Some scholars argue that participating policyholders of Korean life insurance companies have shared the cashflow risk with shareholders. They emphasize that insurance firms have used dividend reserves to supplement for equity deficits. Thus, they argue that the economic entities of Korean life insurance companies are mutual companies though their legal entities are corporations. Our article explicitly sets up each stakeholder's cashflow claim in stock and mutual insurers, and thus identify risk differences in shareholder and policyholder. Using our model, we could derive direct implications on the controversy. Our model shows that life insurance companies would sell participating policies since policyholders would have the incentive to share the risk inherent in their primary claims with equityholders. And there exists a fundamental difference in shareholder's risk and equityholder's.

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The Lean Startup: Korea's Case Study-Cardoc (린 스타트업 방법론의 적용: 한국 '카닥' 사례를 중심으로)

  • Na, Hee Kyung;Lee, Hee Woo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.11 no.5
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    • pp.29-43
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    • 2016
  • The Lean Startup, a methodology for minimizing failure rate of startups, has been receiving attention since its publication in 2011. Although it has been receiving enormous attention as an effective methodology of startups' growth and the emergence of unicorn companies, it is undeniable that the theoretical research and cases on this topic have not been fully accumulated in Korea. Progress of management theory has been made when combining the theory and case studies. In this paper, we thus excavated the 'Cardoc' case, which has applied the lean startup concept to the entire process of service and customer development from the inception of its product design. The following are the findings of the case. First, for the successful application of lean startup, it is essential that all team members to understand the lean startup concept and are willing to apply it thoroughly to the business management. Second, the prompt launching of MVP(Minimum Viable Product) is more important than table discussion. Third, it is crucial to select the appropriate key metrics and analytic tools for effective learning. Fourth, startup must scale up promptly as soon as it verifies the product-market fit through the BML(Build-Measure-Learn) iteration cycle. Fifth, all new business expansion should be lean. Cardoc is currently testing new MVPs in order to move onto the next scale-up process with huge investments in newly added segments. This study is meaningful in that it elaborates the representative case of a Korean startup that has applied the lean startup strategy under the circumstance of insufficient discussion of Korean startup cases in comparison with growing attention both in concept development and case accumulation abroad. We hope that this paper can be a stepping stone for future relevant research on the implementation of lean startup methodology in Korea.

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Value of Information Technology Outsourcing: An Empirical Analysis of Korean Industries (IT 아웃소싱의 가치에 관한 연구: 한국 산업에 대한 실증분석)

  • Han, Kun-Soo;Lee, Kang-Bae
    • Asia pacific journal of information systems
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    • v.20 no.3
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    • pp.115-137
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    • 2010
  • Information technology (IT) outsourcing, the use of a third-party vendor to provide IT services, started in the late 1980s and early 1990s in Korea, and has increased rapidly since 2000. Recently, firms have increased their efforts to capture greater value from IT outsourcing. To date, there have been a large number of studies on IT outsourcing. Most prior studies on IT outsourcing have focused on outsourcing practices and decisions, and little attention has been paid to objectively measuring the value of IT outsourcing. In addition, studies that examined the performance of IT outsourcing have mainly relied on anecdotal evidence or practitioners' perceptions. Our study examines the contribution of IT outsourcing to economic growth in Korean industries over the 1990 to 2007 period, using a production function framework and a panel data set for 54 industries constructed from input-output tables, fixed-capital formation tables, and employment tables. Based on the framework and estimation procedures that Han, Kauffman and Nault (2010) used to examine the economic impact of IT outsourcing in U.S. industries, we evaluate the impact of IT outsourcing on output and productivity in Korean industries. Because IT outsourcing started to grow at a significantly more rapid pace in 2000, we compare the impact of IT outsourcing in pre- and post-2000 periods. Our industry-level panel data cover a large proportion of Korean economy-54 out of 58 Korean industries. This allows us greater opportunity to assess the impacts of IT outsourcing on objective performance measures, such as output and productivity. Using IT outsourcing and IT capital as our primary independent variables, we employ an extended Cobb-Douglas production function in which both variables are treated as factor inputs. We also derive and estimate a labor productivity equation to assess the impact of our IT variables on labor productivity. We use data from seven years (1990, 1993, 2000, 2003, 2005, 2006, and 2007) for which both input-output tables and fixed-capital formation tables are available. Combining the input-output tables and fixed-capital formation tables resulted in 54 industries. IT outsourcing is measured as the value of computer-related services purchased by each industry in a given year. All the variables have been converted to 2000 Korean Won using GDP deflators. To calculate labor hours, we use the average work hours for each sector provided by the OECD. To effectively control for heteroskedasticity and autocorrelation present in our dataset, we use the feasible generalized least squares (FGLS) procedures. Because the AR1 process may be industry-specific (i.e., panel-specific), we consider both common AR1 and panel-specific AR1 (PSAR1) processes in our estimations. We also include year dummies to control for year-specific effects common across industries, and sector dummies (as defined in the GDP deflator) to control for time-invariant sector-specific effects. Based on the full sample of 378 observations, we find that a 1% increase in IT outsourcing is associated with a 0.012~0.014% increase in gross output and a 1% increase in IT capital is associated with a 0.024~0.027% increase in gross output. To compare the contribution of IT outsourcing relative to that of IT capital, we examined gross marginal product (GMP). The average GMP of IT outsourcing was 6.423, which is substantially greater than that of IT capital at 2.093. This indicates that on average if an industry invests KRW 1 millon, it can increase its output by KRW 6.4 million. In terms of the contribution to labor productivity, we find that a 1% increase in IT outsourcing is associated with a 0.009~0.01% increase in labor productivity while a 1% increase in IT capital is associated with a 0.024~0.025% increase in labor productivity. Overall, our results indicate that IT outsourcing has made positive and economically meaningful contributions to output and productivity in Korean industries over the 1990 to 2007 period. The average GMP of IT outsourcing we report about Korean industries is 1.44 times greater than that in U.S. industries reported in Han et al. (2010). Further, we find that the contribution of IT outsourcing has been significantly greater in the 2000~2007 period during which the growth of IT outsourcing accelerated. Our study provides implication for policymakers and managers. First, our results suggest that Korean industries can capture further benefits by increasing investments in IT outsourcing. Second, our analyses and results provide a basis for managers to assess the impact of investments in IT outsourcing and IT capital in an objective and quantitative manner. Building on our study, future research should examine the impact of IT outsourcing at a more detailed industry level and the firm level.