• Proceedings of the Korea Water Resources Association Conference
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• 2008.05a
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• pp.869-877
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• 2008

The purpose of this study is to investigate the trends and patterns of variou kind of water uses in a household by metering in Korea. Water use components are classified by toilet, washbowl, bathing, laundry, kitchen, etc. Flow meters are installed in 146 household selected by sampling in all around Korea. The data are gathered by web-based data collection system from the year 2002 to 2006, considering pre-investigated data such as occupation, revenue, family members, housing types, age, floor area, water saving devices, education, etc. Reliable data are selected by upper fence method for each observed water use component and statistical characteristics are estimated for each residential type to determine liter per capita per day. Estimated domestic per capita day show an indoor water use with the range from $150{\ell}pcd$ to $169{\ell}pcd$ for each housing type as the order of high rise apartment, multi-house, and single house. As the order of consuming amount among water use components, it is investigated that toilet($38.5{\ell}pcd$) is the first, and the second is laundry water($30.8{\ell}pcd$), the third is kitchen($28.4{\ell}pcd$), the fourth is bathtub($24.7{\ell}pcd$), the next is washbowl($15.4{\ell}pcd$). The results are compared with water uses in U.K. and U.S. As life style has been changed into western style, pattern of water use in Korea is tend to be similar with the U.S. water use pattern. Compared with the surveying results by Bradley, on 1985. Thirty liter of total use increased with the advancement of economic level, and a little change of water use pattern can be found. Especially, toilet water take almost half part of total water use and laundry water shows lowest as 11% in surveying at the year of 1985. But, this study shows that 39 liter, 28% of toilet water, has been decreased by the spread of saving devices and campaign. It is supposed that the spread large sized laundry machine make by-hand laundry has been decreased and water use increased. Unit water amount of each end-use in household can be applied to design factor for water and wastewater facilities, and it play a role as information in establishing water demand forecasting and conservation policy.

• Korean Journal of Agricultural Science
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• v.14 no.2
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• pp.263-271
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• 1987

The cyclical trend and seasonal variations of chestnut prices have been analyzed to find out the chestnut price fluctuation in Korea during 1966-1985. The optimum prices, production, and plantation area for the next twenty five years (1986-2010) have been forcasted by the derived equation models. The results of study can be summarized as follows: 1. The chestnut prices were increased by 14.67 percent per annum during 1966-1972, an d decreased by 9.24 percent during 1973-1985, due to the excessive production of chestnut. 2. The chestnut prices showed the lowest price during the harvesting season, especially in October (89.1), and highest in July (109.1). Seasonal fluctuation of chestnut prices were 0.0837 (C.V value) during 1966-1975, and 0.0706 during 1976-1985. Such a seasonal fluctuation of chestnut prices tends to be even with the passage of time. 3. The equation model of predicted chestnut prices was derived as follows : PR=117788.088 - 7.60 TC/Pop + 6.585 GNP/Pop The chestnut prices will be the lowest in 1988, but increased rapidly thereafter. 4. The equation model of optimum chestnut production was derived as follows : $${\ell}n\;PD/Pop=-8.5147-0.8267{\ell}n\;PR+3.3063{\ell}n\;GNP/Pop$$ To maintain optimum chestnut prices according to this model, chestnut production should be 133,000 ton for 1988, and 1,899,000 ton for 2010. 5. Optimum chestnut plantation area will be 4,000 ha in 1988, and thereafter total plantation area will be up to 57,400 ha in 2010.

• Journal of the Korean Institute of Landscape Architecture
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• v.37 no.3
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• pp.33-45
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• 2009

In the industry of landscape architecture, in which the core of production is manpower, the management of manpower is of utmost importance. The industry of landscape architecture, however, is highly sensitive to economic shifts and policy changes; this sensitivity renders the management of manpower-maintaining the balance between supply and demand-often times difficult. Currently, this vicious circle appears to persist in the sense that the industry suffers from a lack of skilled employees, and a new body of skilled laborers from the paucity of jobs. This study, in analyzing current manpower management as well as the prospective supply and demand in the field, looks forward to the stability of the supply and demand in landscape architecture in the nation. According to this study, the number of new skilled laborers-those who have a higher credential than that of "landscape architect-engineer"-is expected to increase by 10% per year. The number of new skilled laborers being 1,137 in 2008, it can be inferred that there will be a new group of 1,251 skilled laborers in the field in 2009. Meanwhile, estimating that the number of current skilled laborers in the field of landscape architecture is 14,783, the demand for new skilled laborers remains approximately 540. The supply of 1,251 skilled laborers outnumbers the demand of 540 by nearly 230%. Hence, the educational institutions of landscape architecture must be prepared to deal with this imbalance between the excessive supply and the lesser demand of skilled laborers. The issue of the excessive supply of manpower is particularly critical, because it may well undermine the competitiveness of the industry as a whole: compared to other related industries such as architecture and civil engineering, for instance. With the customary validation of long work experience no longer in effect, the need for an engineer's license will keep on increasing. It is time that educational institutions took this issue into full account and helped their students to be better qualified and more competent.

• Journal of Intelligence and Information Systems
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• v.23 no.3
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• pp.139-153
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• 2017

Corporate bankruptcy can cause great losses not only to stakeholders but also to many related sectors in society. Through the economic crises, bankruptcy have increased and bankruptcy prediction models have become more and more important. Therefore, corporate bankruptcy has been regarded as one of the major topics of research in business management. Also, many studies in the industry are in progress and important. Previous studies attempted to utilize various methodologies to improve the bankruptcy prediction accuracy and to resolve the overfitting problem, such as Multivariate Discriminant Analysis (MDA), Generalized Linear Model (GLM). These methods are based on statistics. Recently, researchers have used machine learning methodologies such as Support Vector Machine (SVM), Artificial Neural Network (ANN). Furthermore, fuzzy theory and genetic algorithms were used. Because of this change, many of bankruptcy models are developed. Also, performance has been improved. In general, the company's financial and accounting information will change over time. Likewise, the market situation also changes, so there are many difficulties in predicting bankruptcy only with information at a certain point in time. However, even though traditional research has problems that don't take into account the time effect, dynamic model has not been studied much. When we ignore the time effect, we get the biased results. So the static model may not be suitable for predicting bankruptcy. Thus, using the dynamic model, there is a possibility that bankruptcy prediction model is improved. In this paper, we propose RNN (Recurrent Neural Network) which is one of the deep learning methodologies. The RNN learns time series data and the performance is known to be good. Prior to experiment, we selected non-financial firms listed on the KOSPI, KOSDAQ and KONEX markets from 2010 to 2016 for the estimation of the bankruptcy prediction model and the comparison of forecasting performance. In order to prevent a mistake of predicting bankruptcy by using the financial information already reflected in the deterioration of the financial condition of the company, the financial information was collected with a lag of two years, and the default period was defined from January to December of the year. Then we defined the bankruptcy. The bankruptcy we defined is the abolition of the listing due to sluggish earnings. We confirmed abolition of the list at KIND that is corporate stock information website. Then we selected variables at previous papers. The first set of variables are Z-score variables. These variables have become traditional variables in predicting bankruptcy. The second set of variables are dynamic variable set. Finally we selected 240 normal companies and 226 bankrupt companies at the first variable set. Likewise, we selected 229 normal companies and 226 bankrupt companies at the second variable set. We created a model that reflects dynamic changes in time-series financial data and by comparing the suggested model with the analysis of existing bankruptcy predictive models, we found that the suggested model could help to improve the accuracy of bankruptcy predictions. We used financial data in KIS Value (Financial database) and selected Multivariate Discriminant Analysis (MDA), Generalized Linear Model called logistic regression (GLM), Support Vector Machine (SVM), Artificial Neural Network (ANN) model as benchmark. The result of the experiment proved that RNN's performance was better than comparative model. The accuracy of RNN was high in both sets of variables and the Area Under the Curve (AUC) value was also high. Also when we saw the hit-ratio table, the ratio of RNNs that predicted a poor company to be bankrupt was higher than that of other comparative models. However the limitation of this paper is that an overfitting problem occurs during RNN learning. But we expect to be able to solve the overfitting problem by selecting more learning data and appropriate variables. From these result, it is expected that this research will contribute to the development of a bankruptcy prediction by proposing a new dynamic model.

• Journal of Intelligence and Information Systems
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• v.25 no.3
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• pp.239-251
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• 2019

Statistical methods such as moving averages, Kalman filtering, exponential smoothing, regression analysis, and ARIMA (autoregressive integrated moving average) have been used for stock market predictions. However, these statistical methods have not produced superior performances. In recent years, machine learning techniques have been widely used in stock market predictions, including artificial neural network, SVM, and genetic algorithm. In particular, a case-based reasoning method, known as k-nearest neighbor is also widely used for stock price prediction. Case based reasoning retrieves several similar cases from previous cases when a new problem occurs, and combines the class labels of similar cases to create a classification for the new problem. However, case based reasoning has some problems. First, case based reasoning has a tendency to search for a fixed number of neighbors in the observation space and always selects the same number of neighbors rather than the best similar neighbors for the target case. So, case based reasoning may have to take into account more cases even when there are fewer cases applicable depending on the subject. Second, case based reasoning may select neighbors that are far away from the target case. Thus, case based reasoning does not guarantee an optimal pseudo-neighborhood for various target cases, and the predictability can be degraded due to a deviation from the desired similar neighbor. This paper examines how the size of learning data affects stock price predictability through k-nearest neighbor and compares the predictability of k-nearest neighbor with the random walk model according to the size of the learning data and the number of neighbors. In this study, Samsung electronics stock prices were predicted by dividing the learning dataset into two types. For the prediction of next day's closing price, we used four variables: opening value, daily high, daily low, and daily close. In the first experiment, data from January 1, 2000 to December 31, 2017 were used for the learning process. In the second experiment, data from January 1, 2015 to December 31, 2017 were used for the learning process. The test data is from January 1, 2018 to August 31, 2018 for both experiments. We compared the performance of k-NN with the random walk model using the two learning dataset. The mean absolute percentage error (MAPE) was 1.3497 for the random walk model and 1.3570 for the k-NN for the first experiment when the learning data was small. However, the mean absolute percentage error (MAPE) for the random walk model was 1.3497 and the k-NN was 1.2928 for the second experiment when the learning data was large. These results show that the prediction power when more learning data are used is higher than when less learning data are used. Also, this paper shows that k-NN generally produces a better predictive power than random walk model for larger learning datasets and does not when the learning dataset is relatively small. Future studies need to consider macroeconomic variables related to stock price forecasting including opening price, low price, high price, and closing price. Also, to produce better results, it is recommended that the k-nearest neighbor needs to find nearest neighbors using the second step filtering method considering fundamental economic variables as well as a sufficient amount of learning data.

• Journal of Intelligence and Information Systems
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• v.28 no.4
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• pp.157-177
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• 2022

Investors are trading stocks by keeping a close watch on the order information submitted by domestic and foreign investors in real time through Limit Order Book information, so-called price current provided by securities firms. Will order information released in the Limit Order Book be useful in stock price prediction? This study analyzes whether it is significant as a predictor of future stock price up or down when order imbalances appear as investors' buying and selling orders are concentrated to one side during intra-day trading time. Using classification algorithms, this study improved the prediction accuracy of the order imbalance information on the short-term price up and down trend, that is the closing price up and down of the day. Day trading strategies are proposed using the predicted price trends of the classification algorithms and the trading performances are analyzed through empirical analysis. The 5-minute KOSPI200 Index Futures data were analyzed for 4,564 days from January 19, 2004 to June 30, 2022. The results of the empirical analysis are as follows. First, order imbalance information has a significant impact on the current stock prices. Second, the order imbalance information observed in the early morning has a significant forecasting power on the price trends from the early morning to the market closing time. Third, the Support Vector Machines algorithm showed the highest prediction accuracy on the day's closing price trends using the order imbalance information at 54.1%. Fourth, the order imbalance information measured at an early time of day had higher prediction accuracy than the order imbalance information measured at a later time of day. Fifth, the trading performances of the day trading strategies using the prediction results of the classification algorithms on the price up and down trends were higher than that of the benchmark trading strategy. Sixth, except for the K-Nearest Neighbor algorithm, all investment performances using the classification algorithms showed average higher total profits than that of the benchmark strategy. Seventh, the trading performances using the predictive results of the Logical Regression, Random Forest, Support Vector Machines, and XGBoost algorithms showed higher results than the benchmark strategy in the Sharpe Ratio, which evaluates both profitability and risk. This study has an academic difference from existing studies in that it documented the economic value of the total buy & sell order volume information among the Limit Order Book information. The empirical results of this study are also valuable to the market participants from a trading perspective. In future studies, it is necessary to improve the performance of the trading strategy using more accurate price prediction results by expanding to deep learning models which are actively being studied for predicting stock prices recently.

• 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.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.28 no.5B
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• pp.595-601
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• 2008

The purpose of this study is to investigate the trends and patterns of various kind of water uses in a household by metering in Korea. Water use components are classified by toilet, washbowl, bathing, laundry, kitchen, miscellaneous. Flow meters are installed in 140 household selected by sampling in all around Korea. The data are gathered by web-based data collection system from the year 2002 to 2006, considering pre-investigated data such as occupation, revenue, family members, housing types, age, floor area, water saving devices, education, miscellaneous. Reliable data are selected by upper fence method for each observed water use component and statistical characteristics are estimated for each residential type to determine liter per capita per day. Estimated domestic per capita day show an indoor water use with the range from 150 lpcd to 169 lpcd for each housing type as the order of high rise apartment, multi-house, and single house. As the order of consuming amount among water use components, it is investigated that toilet (38.5 lpcd) is the first, and the second is laundry water (30.8 lpcd), the third is kitchen (28.4 lpcd), the fourth is bathtub (24.7 lpcd), the next is washbowl (15.4 lpcd). The results are compared with water uses in U.K. and U.S. As life style has been changed into western style, pattern of water use in Korea is tend to be similar with the U.S. water use pattern. Compared with the surveying results by Bradley, on 1985. Thirty liter of total use increased with the advancement of economic level, and a little change of water use pattern can be found. Especially, toilet water take almost half part of total water use and laundry water shows lowest as 11% in surveying at the year of 1985. But, this study shows that 39 liter, 28% of toilet water, has been decreased by the spread of saving devices and campaign. It is supposed that the spread large sized laundry machine make by-hand laundry has been decreased and water use increased. Unit water amount of each end-use in household can be applied to design factor for water and wastewater facilities, and it play a role as information in establishing water demand forecasting and conservation policy.

• Korean Journal of Agricultural and Forest Meteorology
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• v.8 no.1
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• pp.1-9
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• 2006

Regardless of the recent observed warmer winters in Korea, more freeze injuries and associated economic losses are reported in fruit industry than ever before. Existing freeze-frost forecasting systems employ only daily minimum temperature for judging the potential damage on dormant flowering buds but cannot accommodate potential biological responses such as short-term acclimation of plants to severe weather episodes as well as annual variation in climate. We introduce 'dormancy depth', in addition to daily minimum temperature, as a complementary criterion for judging the potential damage of freezing temperatures on dormant flowering buds of grape vines. Dormancy depth can be estimated by a phonology model driven by daily maximum and minimum temperature and is expected to make a reasonable proxy for physiological tolerance of buds to low temperature. Dormancy depth at a selected site was estimated for a climatological normal year by this model, and we found a close similarity in time course change pattern between the estimated dormancy depth and the known cold tolerance of fruit trees. Inter-annual and spatial variation in dormancy depth were identified by this method, showing the feasibility of using dormancy depth as a proxy indicator for tolerance to low temperature during the winter season. The model was applied to 10 vineyards which were recently damaged by a cold spell, and a temperature-dormancy depth-freeze injury relationship was formulated into an exponential-saturation model which can be used for judging freeze risk under a given set of temperature and dormancy depth. Based on this model and the expected lowest temperature with a 10-year recurrence interval, a freeze risk probability map was produced for Hwaseong County, Korea. The results seemed to explain why the vineyards in the warmer part of Hwaseong County have been hit by more freeBe damage than those in the cooler part of the county. A dormancy depth-minimum temperature dual engine freeze warning system was designed for vineyards in major production counties in Korea by combining the site-specific dormancy depth and minimum temperature forecasts with the freeze risk model. In this system, daily accumulation of thermal time since last fall leads to the dormancy state (depth) for today. The regional minimum temperature forecast for tomorrow by the Korea Meteorological Administration is converted to the site specific forecast at a 30m resolution. These data are input to the freeze risk model and the percent damage probability is calculated for each grid cell and mapped for the entire county. Similar approaches may be used to develop freeze warning systems for other deciduous fruit trees.