• Journal of Korea Port Economic Association
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• v.35 no.2
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• pp.61-76
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• 2019

The purpose of this study is to use the EGARCH model and Granger causality test to analyze how the change in the BDI affects the Korean stock price volatility. The main analysis results are summarized as follows. First, according to the results of the mean equation, the change in the BDI is significant in large-cap stocks, as well as in the manufacturing, service, and chemistry indexes, but not in others. This implies that the Korean stock market does not respond appropriately to the maritime market situation; further, the increase in demand for raw materials has not led to a real economic recovery. Second, in the result of the variance equation, the coefficient on the change in the BDI is negative(-), and the change in the BDI is significant for all size indexes. Particularly, the change in the BDI has a greater impact on the volatility of small-cap stocks than that of large-cap stocks. The results of the analysis of the sector indexes were statistically significant for the service, financial, construction, and electric and electronics industries, but not for the manufacturing and chemical industries. In particular, the changes in the BDI have the greatest impact on the construction industry. Third, according to the Granger causality test results, the change in the BDI leads the financial industry and construction industry. There is, however, no relationship between the BDI and the other indexes. This shows that change in the shipping freight index can be used to predict the volatility in the Korean stock market. This can help investors and policymakers make better decisions.

• The Journal of the Korea Contents Association
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• v.19 no.5
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• pp.562-571
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• 2019

The expansion of the performing arts market to include new genres of art that combine art and cutting-edge media technology has surpassed the limitations of traditional theatre art elements such as stage, costumes, lighting, sound, and props, allowing free expression of space-time and visual art. It is growing into a wide area with unlimited potential in the performing arts sector. In response to these changes and the demands of the time, there is an increasing demand for multi-talents who can plan and produce arts and technology-converged contents that will contribute to the development of the performing arts industry. As a result, university departments related to theatre art across the country feel that it is urgent to develop curricula that will enhance students' competency by incorporating the latest media technologies such as virtual reality, holography, and interactive motion sensors into the existing performance art visualization process. In this study, the author will examine the process of developing courses in technology-incorporated theatre art (design) through case studies of media technology-converged performances from the past 10 years. Based on the traditional concept of theatre art, the attempt to fuse stage art with media technology will be a cornerstone of attempts to foster a group of talented artists who transcend the limits of creative visual expression and creative value.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.6
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• pp.147-154
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• 2021

Recently, it has been observed that as the level of Science and Technology in Korea is improving, the demand for technology transfer from overseas buyers is also increasing. A technical value is an important factor for the technology transfer process and the valuation of technology should be performed reasonably. Specifically, a non-economical value has to be examined thoroughly when conducting the valuation for a technology that depends on public values. Since public technology has public benefit as its purpose when compared to technology from the private sector, its discount rate should be appropriately assessed and reflected in its valuation process. In this context, this study presents the methodology of valuation of public technology particularly relating to the transfer of technology from the national defense industries. To be specific, both an application method of the discount rate according to the characteristics and the purpose of the target technology and a qualitative and quantitative evaluation method to reflect the public values are presented. The proposed method for the valuation of defense technology could be used practically both in strengthening bargaining capability based on the reasonably derived technical values for transfer of national defense technology abroad and in the compilation of budgets for technology development in the future.

• International Area Studies Review
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• v.20 no.1
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• pp.105-125
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• 2016

The expansionary monetary policy was practiced after 2001 in Japan to treat the deflation spiral, and reduced only the nominal interest rates and domestic household demand. One of the most serious factors for this failure was the change of private sector's expectancy. This paper has studied the effect of Japanese monetary policy in 21c., with empirical research based on a renewed macroeconomic model and the VAR. The empirical analysis shows that the effect of monetary policy on the national income during 2001.01-2015.03 is weaker than that of 1985.01-1994.04. Money volume has a diminutive effect on the growth of GDP within a short term after 2001. The change in the expectations of the private sectors might have been the cause of ineffectiveness of the expansive monetary policy. Economic agents learned from the past Japanese financial crisis that an expansive monetary policy increased the inflation rate and caused the 'bubbles to burst' afterwards. The VAR analysis says that the effectiveness of monetary policy on the economic depression declined over the past 20 years and the expansion of money volume has no influence on exchange rate and net export. This means that the expansive monetary policy lost its effect on net export and national income steadily. Monetary policy makers have to recognize this fact, and to consider another anti-cycle political instrument, i.e. the fiscal policy with government debt.

• International Area Studies Review
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• v.22 no.3
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• pp.255-292
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• 2018

This paper evaluates the new food policy adopted by the European Union to enhance the food safety after the mad cow crisis occurred in 1990's. Newly introduced rules at the EU level are characterized by two features. Firstly, an important part of them have the form of Regulation which is a binding legislative to all member countries. Secondly, most of them are horizontally applied to the whole food industry, irrespective of their kinds of performance, hygiene or labelling. According to theoretical studies on this topic, any food safety regulation for solving adverse selection problem or reducing negative externality in food consumption should be fine-tuning depending on the concrete demand and costs conditions of the food sector concerned. In this theoretical perspective, the food safety laws introduced at EU level after mad cow crisis have been over-regulated for improving social welfare. The true motivation for the transfer of the policy competence on food safety to the Union level is political rather than economic. Our analysis with a political economic perspective shows that how the EU food regulations have been embraced not only by the governments of member countries, but also by diverse interest groups like food processor & distributors, consumers and agro-livestock groups, and that they have been used as protectionist purpose specially against non-member developing countries. Taking into account the fact that the basic aim to form the Union is to establish a single market to enhance economic efficiency at the Union level, the EU is required to adopt some policy actions to reduce negative effects of too restrictive food safety regulations.

• Journal of the Institute of Convergence Signal Processing
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• v.22 no.4
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• pp.193-198
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• 2021

Recently, interests in the 4th industry have increased the level of demand for pest control by farmers in the field of rice farming, and the interests and use of agricultural pest control drones. Therefore, the diversification of agricultural control drones that spray high-concentration pesticides and the increase of agricultural exterminators due to the acquisition of national drone certifications are rapidly developing the agricultural sector in the drone industry. In addition, as detailed projects, an effective platform is required to construct large-scale big data due to pesticide management, exterminator management, precise spraying, pest control work volume classification, settlement, soil management, prediction and monitoring of damages by pests, etc. and to process the data. However, studies in South Korea and other countries on development of models and programs to integrate and process the big data such as data analysis algorithms, image analysis algorithms, growth management algorithms, AI algorithms, etc. are insufficient. This paper proposed an online drone pest control management information platform to meet the needs of managers and farmers in the agricultural field and to realize precise AI pest control based on the agricultural drone pest control processor using drones and presented foundation for development of a comprehensive management system through empirical experiments.

• Korean Journal of Remote Sensing
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• v.38 no.6_4
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• pp.1955-1969
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• 2022

Most of the public and private users who use national satellite information such as the KOMPSAT series mainly use Electro-Optical and Infrared (EO/IR) satellite images, and the utilization of Synthetic Aperture Radar (SAR) images is relatively insufficient. As KOMPSAT-5 currently in operation, KOMPSAT-6 and micro SAR satellite constellation systems are scheduled to be launched in the future, the demand for utilization of SAR satellite information is increasing in various fields. Accordingly, it is necessary to possess core technology for SAR utilization that can support the utilization of SAR satellite information for users. Due to the all-weather properties of SAR system, change detection technology is a key application technology. However, until now, the development of technology that automatic change detection and cueing using SAR images is insufficient. Through this study, the requirements of automatic change detection and cueing function using multi-temporal KOMPSAT-5 SAR satellite images were derived and a prototype program was developed. This prototype program aims to secure independent SAR utilization technology and promote the utilization of domestic SAR satellite information by practitioners in public sector organizations in Korea.

• Analyses & Alternatives
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• v.5 no.2
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• pp.77-105
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• 2021

Natural gas consumption in Asia is growing at fast tempo because of various factors such as economic growth in the region, urbanization, coal-to-gas switch at power and industry sector. Due to geographical characteristics and lack of international pipeline connections between countries in the continent, majority of natural gas exported to Asian consumers is transported by tankers on the sea in the form of liquefied natural gas. As Asian market is the most lucrative market with the fastest demand growth, the competitions between LNG sellers for market share in Asian market are strengthening. The competitions accelerated, especially after the introduction of large volume of incremental supply into the market by new exporters from the U.S., Australia, and Russia. Cheniere Energy, the first exporter of liquefied natural gas (LNG) in the lower 48 states of U.S. has not adopted the traditional price formation mechanism and business model. Traditionally, prices of long-term LNG contracts have been indexed to the price of competing fuels, such as crude oil. The company adopted a pricing mechanism and business model based on a cost-plus system. Cheniere Energy opted for the safer and the risk-free pricing system, that annually guarantees a fixed amount of revenue to the seller. The company earns the same amount of money, regardless of natural gas price dynamics in the domestic and international market, but possibly with less revenue. However, by introducing and successfully implementing the safer and risk- free business model, Cheniere Energy, a company of a relatively smaller size in comparison with major oil and gas companies, became an example to other smaller-sized companies in the U.S. The company's business model demonstrated how to enter and operate LNG business amid increasing competitions among sellers in the U.S. and international market.

• Analytical Science and Technology
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• v.35 no.5
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• pp.205-211
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• 2022

Deuterium (D) is an isotope with one more neutron number than hydrogen (H). Heavy elements rarely change their chemical properties with little effect even if the number of neutrons increases, but low-mass elements change their vibration energy, diffusion rate, and reaction rate because the effect cannot be ignored, which is called an isotope effect. Recently, in the semiconductor and display industries, there is a trend to replace hydrogen gas (H₂) with deuterium gas (D₂) in order to improve process stability and product quality by using the isotope effect. In addition, as the demand for D₂ in industries increases, domestic gas producers are making efforts to produce and supply D₂ on their own. In the case of high purity D₂, most of them are produced by electrolysis of heavy water (D₂O), and among D₂, hydrogen deuteride (HD) molecules are present as isotope impurities. Therefore, in order to maximize the isotope effect of hydrogen in the electronic industry, HD, which is an isotope impurity of D₂ used in the process, should be small amount. To this end, purity analysis of D₂ for industrial processing is essential. In this study, HD quantitative analysis of D₂ for high purity D₂ purity analysis was established and hydrogen isotope RM (Reference material) was developed. Since hydrogen isotopes are difficult to analyze with general gas analysis instrument, they were analyzed using a high-precision mass spectrometer (Gas/MS, Finnigan MAT271). High purity HD gas was injected into Gas/MS, sensitivity was determined by a signal according to pressure, and HD concentrations in two bottles of D₂ were quantified using the corresponding sensitivity. The amount fraction of HD in each D₂ was (4518 ± 275) μmol/mol, (2282 ± 144) μmol/mol. D₂, which quantifies HD amount using the developed quantitative analysis method, will be manufactured with hydrogen isotope RM and distributed for quality management and maintenance of electronic industries and gas producers in the future.

• Journal of Appropriate Technology
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• v.6 no.2
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• pp.163-173
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• 2020

For the successful execution of an ODA project, it is necessary to know what areas are weak and necessary to the country of demand exactly. The health sector is also a top priority in most of developing countries. This study was carried out to introduce non-communicable disease (NCD) in Fiji for ODA projects planning. The major causes of death in Fiji in 2016 are diabetes, ischemic heart disease, cerebrovascular disease, chronic kidney disease, lower respiratory infect, asthma in ranking. The major causes of death in Korea in same year are cancer, ischemic heart diseases, cerebrovascular diseases, pneumonia, suicide, diabetes in the order of ranking. The chronic disease as non-communicable disease (NCD) has been increasing continuously due to changes in lifestyle and consumption patterns and population aging in prevalence rate. This global trend is also apparent in Fiji and Korea, reflected in increasing mortality and personal costs for the treatment and management of NCD. The need for a sustained comprehensive treatment tailored for individual patients has suggested from many studies and the development of a systematic program to manage NCD patients to provide such care have been recommended. The Fiji government developed Non-communicable Diseases Strategic Plan 2015-2019 and has tried to reduce the prevalence rate of non-communicable diseases by factors. The WHO global action plan guiding national-level NCD policies requires an NCD prevention and control model at the community level, presenting strategic goals and detailed options for the introduction and application of the approach to communities. It is necessary to develop an NCD prevention and control model, consisting of a strategy of community intervention, education for students and NCD patients, and the legal enactment of NCD that adequately meets the needs of community members.