• Title/Summary/Keyword: economic stability

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Study on the Strategy for Managing Aggregate Supply and Demand in Gyeongsangbuk-do, South Korea (경상북도 골재수요-공급 관리 전략 연구)

  • Jin-Young Lee;Sei Sun Hong;Chul Seoung Baek
    • Economic and Environmental Geology
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    • v.57 no.2
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    • pp.161-175
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    • 2024
  • Aggregate typically refers to sand and gravel formed by the transportation of rocks in rivers or artificially crushed, constituting a core resource in the construction industry. Gyeongsangbuk-do, the largest administrative area in South Korea, produces various sources of gravel, including forest, land (excluding other sources), river, and crushed stone. As of 2022, it has extracted approximately 6.96 million cubic meters of aggregate, with permitted production totaling around 4.07 million cubic meters and reported production of about 2.88 million cubic meters. The aggregate demand in Gyeongsangbuk-do is estimated to be 12.39 million cubic meters according to the estimation method in Ready-Mix Concrete. From the supply perspective, about 120 extraction sites are operational, with most municipalities maintaining an appropriate balance between aggregate demand and supply. However, in some areas, there is inbound and outbound transportation of aggregate to neighboring regions. Regions with significant inbound and outbound aggregate transportation in Gyeongsangbuk-do are areas connected to Daegu Metropolitan City and Pohang City along the Gyeongbu rail line, showing a high correlation with population distribution. Gyeongsangbuk-do faces challenges such as population decline, aging rural areas, and insufficient balanced regional development. Analysis using GIS reveals these trends in gravel demand and supply. Currently in this study, Gyeongsangbuk-do meets its demand for aggregate through the supply of various aggregate sources, maintaining stable aggregate procurement. River and terrestrial aggregates may be sustained as short-term supply strategies due to the difficulty of longterm development. Considering the reliance on raw material supply for selective crushing, it suggests the need for raw material management to maintain stability. Gyeongsangbuk-do highlights quarries in the forest as an important resource for sustainable aggregate supply, advocating for the development of large-scale aggregate quarries as a long-term alternative. These research findings are expected to provide valuable insights for formulating strategies for sustainable management and stable utilization of aggregate resources.

A Study on Commodity Asset Investment Model Based on Machine Learning Technique (기계학습을 활용한 상품자산 투자모델에 관한 연구)

  • Song, Jin Ho;Choi, Heung Sik;Kim, Sun Woong
    • Journal of Intelligence and Information Systems
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    • v.23 no.4
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    • pp.127-146
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    • 2017
  • Services using artificial intelligence have begun to emerge in daily life. Artificial intelligence is applied to products in consumer electronics and communications such as artificial intelligence refrigerators and speakers. In the financial sector, using Kensho's artificial intelligence technology, the process of the stock trading system in Goldman Sachs was improved. For example, two stock traders could handle the work of 600 stock traders and the analytical work for 15 people for 4weeks could be processed in 5 minutes. Especially, big data analysis through machine learning among artificial intelligence fields is actively applied throughout the financial industry. The stock market analysis and investment modeling through machine learning theory are also actively studied. The limits of linearity problem existing in financial time series studies are overcome by using machine learning theory such as artificial intelligence prediction model. The study of quantitative financial data based on the past stock market-related numerical data is widely performed using artificial intelligence to forecast future movements of stock price or indices. Various other studies have been conducted to predict the future direction of the market or the stock price of companies by learning based on a large amount of text data such as various news and comments related to the stock market. Investing on commodity asset, one of alternative assets, is usually used for enhancing the stability and safety of traditional stock and bond asset portfolio. There are relatively few researches on the investment model about commodity asset than mainstream assets like equity and bond. Recently machine learning techniques are widely applied on financial world, especially on stock and bond investment model and it makes better trading model on this field and makes the change on the whole financial area. In this study we made investment model using Support Vector Machine among the machine learning models. There are some researches on commodity asset focusing on the price prediction of the specific commodity but it is hard to find the researches about investment model of commodity as asset allocation using machine learning model. We propose a method of forecasting four major commodity indices, portfolio made of commodity futures, and individual commodity futures, using SVM model. The four major commodity indices are Goldman Sachs Commodity Index(GSCI), Dow Jones UBS Commodity Index(DJUI), Thomson Reuters/Core Commodity CRB Index(TRCI), and Rogers International Commodity Index(RI). We selected each two individual futures among three sectors as energy, agriculture, and metals that are actively traded on CME market and have enough liquidity. They are Crude Oil, Natural Gas, Corn, Wheat, Gold and Silver Futures. We made the equally weighted portfolio with six commodity futures for comparing with other commodity indices. We set the 19 macroeconomic indicators including stock market indices, exports & imports trade data, labor market data, and composite leading indicators as the input data of the model because commodity asset is very closely related with the macroeconomic activities. They are 14 US economic indicators, two Chinese economic indicators and two Korean economic indicators. Data period is from January 1990 to May 2017. We set the former 195 monthly data as training data and the latter 125 monthly data as test data. In this study, we verified that the performance of the equally weighted commodity futures portfolio rebalanced by the SVM model is better than that of other commodity indices. The prediction accuracy of the model for the commodity indices does not exceed 50% regardless of the SVM kernel function. On the other hand, the prediction accuracy of equally weighted commodity futures portfolio is 53%. The prediction accuracy of the individual commodity futures model is better than that of commodity indices model especially in agriculture and metal sectors. The individual commodity futures portfolio excluding the energy sector has outperformed the three sectors covered by individual commodity futures portfolio. In order to verify the validity of the model, it is judged that the analysis results should be similar despite variations in data period. So we also examined the odd numbered year data as training data and the even numbered year data as test data and we confirmed that the analysis results are similar. As a result, when we allocate commodity assets to traditional portfolio composed of stock, bond, and cash, we can get more effective investment performance not by investing commodity indices but by investing commodity futures. Especially we can get better performance by rebalanced commodity futures portfolio designed by SVM model.

The Effects of Self-Determination on Entrepreneurial Intention in Office Workers: Focusing on the Dual Mediation of Innovativeness and Prception of the Startup Support System (직장인의 자기결정성이 창업의지에 미치는 영향: 혁신성과 창업지원정책인식의 이중매개를 중심으로)

  • Lim, Jae Sung
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.19 no.1
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    • pp.75-91
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    • 2024
  • Recently, global business environment is changing dramatically along with the acceleration of technological innovation amid the war, climatic change, and geopolitical instability. Accordingly, it is difficult to predict or plan for the future as the volatility, complexity, ambiguity, and uncertainty of the industrial ecosystem continue to increase. Therefore, organizations are undergoing inevitable restructuring in accordance with their survival strategy, for instance, removing marginal businesses or firing. Accordingly, office workers are seeking a startup as an alternative for their continuous economic activity amid rising anxiety factors that make them think they would lose their jobs unintentionally. Here, this study is aimed to verify through what paths office workers' self-determination influences the process of converting to a startup. For this study, an online survey was carried out, and 310 respondents' valid data were analyzed through SPSS and AMOS. To sum up the results, first, office workers' self-determination did not have significant effects on entrepreneurial intention. However, it was confirmed that self-determination had positive (+) effects on innovativeness and perception of the startup support system. This result shows that their psychology works to prepare step by step by accumulating innovative experiences and increasing perception of the startup support system from a long-term life path perspective rather than challenging startups right way. Second, innovativeness is found to have positive (+) effects on entrepreneurial intention. Also, perception of the startup support system had positive (+) effects on entrepreneurial intention. This implies that when considering startups, they are highly aware of the government's various startup support systems. Third, innovativeness is found to have positive (+) effects on perception of the startup support system. It is judged that perception of the startup support system is valid for prospective founders to exhibit their innovativeness and realize new ideas. Fourth, it was confirmed that innovativeness and perception of the startup support system mediated correlation between self-determination and entrepreneurial intention, and perception of the startup support system mediated correlation between innovativeness and entrepreneurial intention, which shows that it is a crucial factor in entrepreneurial intention. Although previous studies related to startups deal with students mostly, this study targets office workers who form a great part in economic activities, which makes it academically valuable in terms of being differentiated from others and extending the scope of research. Also, when we consider the fact that the motivation for self-determination alone fails to stimulate entrepreneurial intention and the complete mediation of innovativeness and the startup support system, it has great implications in practical aspects such as the government's human and material support systems. In the selection and analysis of samples, this study exhibits a limitation that the problem of common method bias is not completely resolved. Also, additional definitive research is needed on whether entrepreneurial intention is formed and converted into startup behavior. Academically and practically, this study deals with the relationship between humans' psychological motives and startups which has not been handled sufficiently in previous studies. The conversion of office workers to startups is expected to have effects on individuals' economic stability and the state's job creation; therefore, it needs to be investigated continuously for its great value.

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Analysis of the Spent Fuel Cooling Time for a Deep Geological Disposal (심지층 처분을 일한 사용후핵연료 냉각기간 분석)

  • Lee, Jong-Youl;Cho, Dong-Geun;Choi, Heui-Joo;Choi, Jong-Won;Lee, Yang
    • Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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    • v.6 no.1
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    • pp.65-72
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    • 2008
  • The purpose of the HLW deep geological disposal is to isolate and to delay the radioactive material release to human beings and the environment for a long time so that the toxicity does not affect to the environment. The main requirements for the HLW repository design is to keep the buffer temperature below $100\;^{\circ}C$ in order to maintain its integrity. So the cooling time of spent fuels discharged from the nuclear power plant is the key consideration factors for efficiency and economic feasibility of the repository. The disposal tunnel/disposal hole spacing, the disposal area and thermal capacity required for the deep geological repository layout which satisfies the temperature requirement of the disposal system is analyzed to set the optimized spent fuels cooling time. To do this, based on the reference disposal concept, thermal stability analyses of the disposal system have been performed and the derived results have been compared by setting the spent fuels cooling time and the disposal tunnel/disposal hole spacing in various ways. From these results, desirable spent fuels cooling time in view of disposal area is derived. The results shows that the time reaching the maximum temperature within the design limit of the temperature in the disposal site is likely shortened as the cooling time of spent fuels becomes short. Also it seems that the temperature-rising and-dropping patterns in the disposal site are of smoothly varying form as the cooling time of spent fuels becomes long. In addition, it is revealed that a desirable cooling time of spent fuels is approximately 40-50 years when spent fuels are supposedly disposed in the deep geological disposal site with its structural scale under consideration in this study.

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Development and Utility Evaluation of Portable Respiration Training Device for Image-guided Stereotactic Body Radiation Therapy (SBRT) (영상유도 체부정위방사선 치료시 호흡동조를 위한 휴대형 호흡연습장치의 개발 및 유용성 평가)

  • Hwang, Seon Bung;Park, Mun Kyu;Park, Seung Woo;Cho, Yu Ra;Lee, Dong Han;Jung, Hai Jo;Ji, Young Hoon;Kwon, Soo-Il
    • Progress in Medical Physics
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    • v.25 no.4
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    • pp.264-270
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    • 2014
  • This study developed a portable respiratory training device to improve breathing stability, which is an important element in using the CyberKnife Synchrony respiratory tracking device, one of the typical Stereotactic Radiation Therapy (SRT) devices. It produced an interface for users to be able to select one of two displays, a graph type and a bar type, supported an auditory system that helps them expect next respiration by improving a sense of rhythm of their respiratory period, and provided comfortable respiratory inducement. By targeting 5 applicants and applying individual respiratory period detected through a self-developed program, it acquired signal data of 'guide respiration' that induces breathing through signal data gained from 'free respiration' and an auditory system, and evaluated the usability by comparing deviation average values of respiratory period and respiratory amplitude. It could be identified that respiratory period decreased $55.74{\pm}0.14%$ compared to free respiration, and respiratory amplitude decreased $28.12{\pm}0.10%$ compared to free respiration, which confirmed the consistency and stability of respiratory. SBRT, developed based on these results, using the portable respiratory training device, for liver cancer or lung cancer, is evaluated to be able to help reduce delayed treatment time due to respiratory instability and improve treatment accuracy, and if it could be applied to developing respiratory training applications targeting an android-based portable device in the future, even use convenience and economic efficiency are expected.

A Study for strategic cooperaton of enterprise security and business (기업보안과 비즈니스의 전략적 협력에 관한 연구)

  • Ryu, Hyung-Chang
    • Korean Security Journal
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    • no.28
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    • pp.103-130
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    • 2011
  • This study is the research of enterprise security for raising the profitability and stability of Korean companies in global business environment and strategic cooperation of business. As the scientific technology gets complicated as day goes by and new competitors appear regardless the border in the modern business environment, the situation happens frequently which the huge company hands over their market to the new one armed with the innovative thinking overnight. To survive such new environment, the answer is the change of paradigm regarding business management method at the new point of view. With the low level of security risk management of Korean companies which stick to old habit, the security management which helps the companies secure profits is not affordable. The global village where the population of 7 billions live in 21st century is facing up to the rapid ecological adaptation. The rapid change of climatic environment creates the hundreds of thousands of sufferers in a moment, and we have been watching the millions of livestock are buried alive due to new contagious disease everyday. Such change encourages the humans in global village to change the basic way of living. The business ecosystem which is the basic root for economic life cannot be an exception. To survive the business environment of 21st century, the security risk management at management level is required and the reporting line of companies should be established newly for raising business competing power through security risk management. The companies should bear in mind that they can be disappeared into our old memories overnight if they are not sensitive to the changing environment. Out of new risks for the modern companies, the field especially Korean companies are dealing easily is the security risk. Not like past, the security risk which's size is much more massive and its propagation velocity is very fast is the one of important business risks which the management should take care. Out of security risks which influence on the modern companies significantly, the brand of companies, protection of their reputation, continuity of production and operation and keeping customer's trust are prior to the others. This study offered the suggestion regarding enterprise security and the strategic cooperation of business to deal with such security risk effectively.

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A Study on Setup for Preliminary Decision Criterion of Continuum Rock Mass Slope with Fair to Good Rating (양호한 연속체 암반사면의 예비 판정기준 설정 연구)

  • Kim, Hyung-Min;Lee, Su-gon;Lee, Byok-Kyu;Woo, Jae-Gyung
    • The Journal of Engineering Geology
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    • v.29 no.2
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    • pp.85-97
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    • 2019
  • It can be observed that steep slopes ($65^{\circ}$ to $80^{\circ}$) consist of rock masses were kept stable for a long time. In rock-mass slopes with similar ground condition, steeper slopes than 1 : 0.5 ($63^{\circ}$) may be applied if the discontinuities of rock-mass slope are distributed in a direction favorable to the stability of the slope. In making a decision the angle of the slope, if the preliminary rock mass conditions applicable to steep slope are quantitatively setup, they may be used as guidance in design practice. In this study, the above rock mass was defined as a good continuum rock mass and the quantitative setup criterion range was proposed using RMR, SMR and GSI classifications for the purpose of providing engineering standard for good continuum rock mass conditions. The methods of study are as follows. The stable slope at steep slopes ($65^{\circ}$ to $80^{\circ}$) for each rock type was selected as the study area, and RMR, SMR and GSI were classified to reflect the face mapping results. The results were reviewed by applying the calculated shear strength to the stable analysis of the current state of rock mass slope using the Hoek-Brown failure criterion. It is intended to verify the validity of the preliminary criterion as a rock mass condition that remains stable on a steep slope. Based on the analysis and review by the above research method, it was analyzed that a good continuum rock mass slope can be set to Basic RMR ${\geq}50$ (45 in sedimentary rock), GSI and SMR ${\geq}45$. The safety factor of the LEM is between Fs = 14.08 and 67.50 (average 32.9), and the displacement of the FEM is 0.13 to 0.64 mm (average 0.27 mm). This can be seen as a result of quantitative representation and verification of the stability of a good continuum rock mass slope that has been maintained stable for a long period of time with steep slopes ($65^{\circ}$ to $80^{\circ}$). The setup guideline for a good continuum rock mass slope will be able to establish a more detailed setup standard when the data are accumulated, and it is also a further study project. If stable even on steep slopes of 1 : 0.1 to 0.3, the upper limit of steep slopes is 1 : 0.3 with reference to the overseas design standards and report, thus giving the benefit of ensuring economic and eco-friendlyness. Also, the development of excavation technology and plantation technology and various eco-friendly slope design techniques will help overcome psychological anxiety and rapid weathering and relaxation due to steep slope construction.

The Government Organization Act and the Desirable Government Structure in the 21st Century (21세기 바람직한 정부조직과 정부조직법)

  • Sung, Nak-In
    • Journal of Legislation Research
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    • no.44
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    • pp.241-281
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    • 2013
  • First and foremost, a discussion concerning government structure has to be done in connection with the state form and the governmental form. For practical reasons, there is a need to balance the principle of legality and its exceptions under the Government Organization Act. To ensure the flexibility of government structure with respect to the principle of legality, the National Assembly should accept the government structure requested by the newly elected government. This mitigates the rigidity of the principle of the legality within the government organizations. However, excessive changes by each government could violate the principle of legality asked by Constitution. In this sense, arbitrary modification with respect to the government structure by the newly elected government is not desirable. The long term stability of the government organization is required in any case. Secondly, general administrative agencies, other than Executive Ministries, should not be established under the direct order of the President without the control of the Prime Minister. A hierarchy of the executive branch (President->Prime Minister-> Executive Ministries) is stipulated in the Constitution. Establishing a hierarchy of President -> executive institution should be considered unconstitutional. Therefore, only the Presidential Secretariat and institutions with special functions can be established in the Presidential Office. Establishing general administrative agencies in the Presidential Office for convenience purposes is against the spirit of the current Constitution. Consequently, only the office of staffs and special agencies can be placed in the presidential office. It is against the spirit of the current Constitution to found administrative agencies under the presidential office for convenience. Thirdly, the office of the Prime Minister should be the backbone of internal affairs. In that sense, the President, as the head of state, should focus on the big picture such as the direction of the State, while the Cabinet headed by the Prime Minister should be responsible for the daily affairs of the State. The cabinet surrounding the Prime Minister must control all the ordinary affairs of the State, while the President, as the head of the State, should focus on the big picture of blueprinting the aim of the State. Lastly, the Office of the Prime Minister and Executive Ministries are the two main bodies of the executive branch. It is important to reduce the confusion caused by repeated changes in the names of Executive Ministries, to restore the traditional names and authorities of these institutions, and to rehabilitate the legitimacy of the State. For the Korean democracy to take its roots, a systematic way of stabilizing a law-governed democratic country is needed. There is also the need not only to reform security and economic agencies, but also to rationally solve the integration of technique and policy, according to the changes of time.

The Value of Entrepreneurial Orientation and Social Capital for Enhancing Collective Performance in R&D Collaborations of Korean Ventures (벤처기업의 R&D협력에서 사회적 자본과 기업가적 지향성이 협력성과에 미치는 영향)

  • Seo, Ribin
    • Journal of Korea Technology Innovation Society
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    • v.20 no.1
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    • pp.1-33
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    • 2017
  • In the last decades, technology-oriented small firms, i.e. venture businesses, have been increasingly engaged in R&D collaborations with external parties as strategic means for technological innovation. Despite ample evidence on the benefit of such collaborations for the firms, there has been less attention to examining whether and how the firms' social interactions with cooperating partners and their managerial characteristics contribute to that benefit. Drawing on the theories of social capital and entrepreneurial orientation, this study is to remedy this gap. The theory of social capital, referring to a sum of the value and potential resources embedded in social relationships of collectives, provides an integrated view of social factors among cooperating partners, e.g. strong ties, network stability, trust, reciprocity, shared vision and value. It categorizes these factors into structural, relational, and cognitive dimensions of social capital. Entrepreneurial orientation theory captures firms' managerial characteristics as a combination of innovativeness, proactiveness, and risk-taking. This addresses firms' managerial process to utilize and combine internal and external resources for wealth creation and opportunity realization. Against this background, this study investigates what roles social capital among cooperating R&D partners and entrepreneurial orientation of the collaborating firms play for collective performance improvement in R&D collaborations. In terms of the collective performance, this study adopts two indicators: technological competitiveness and business performance. Technological competitiveness refers to the contribution of a technology developed by a cooperative R&D project to competitive advantage of a firm while business performance is defined as the financial and economic outcome of a collaboration. Using a sample of 218 Korean ventures engaging in R&D collaboration with external parties, the author finds the significant effects of social capital (i.e. structural, relational, and cognitive dimensions) and entrepreneurial orientation (i.e. innovativeness, proactiveness, and risk-taking) on both of the technological competitiveness and the business performance. Further, the higher the social capital among R&D partners, the more likely it is to foster the entrepreneurial orientation at firm-level. Most importantly, the entrepreneurial orientation at firm-level is an significant mediator of the relationship between social capital and collective performance. Beyond these novel empirical findings, this study contributes to the literature on R&D collaboration. The findings' implications for management and policy are deeply discussed in the conclusion.

A Study of the Value of Contemporary Urban Agriculture as Represented by the Saekgyeong(穡經) by Seogye Park Se-dang(西溪 朴世堂) (서계 박세당(西溪 朴世堂) 색경(穡經)에 표방된 현대 도시농업적 가치에 관한 연구)

  • Lim, Jung-Eon;Sung, Jong-Sang
    • Journal of the Korean Institute of Traditional Landscape Architecture
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    • v.33 no.1
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    • pp.76-87
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    • 2015
  • The present study examines the Saekgyeong (Classic of Husbandry; 1676), an agricultural manual dating from the Joseon Dynasty (1392-1910), and the agricultural thought of its author by Park Se-dang (pen name: Seogye; 1629-1703), a scholar. Its purpose lies in exploring the value of contemporary urban agriculture based on an examination of the attitudes toward agriculture, the values pursued through agriculture, and the ways of dealing with and using land as evinced by the classic and its author. Confirmed through an examination of Park's agricultural philosophy and the Saekgyeong, the results of the present study are as follow. First, there is the socioeconomic value of pursuing the stability of and promoting the economic independence of indigent petty peasants through productivity improvement. Second, there is the experiential value of exploration through experience and agricultural field practice for study. Third, there is the environmental value of endeavoring to overcome an infertile natural environment through agricultural methods that sought to accommodate the land by reading the flow and phenomena of nature. Fourth, there is the practical value of compiling the Saekgyeong and seeking to broaden its use as a guidebook containing agricultural methods appropriate to the land and the wisdom for life.8) When examined in terms of contemporary urban agriculture, the significance of the four values above is as follows: the socioeconomic effect of encouraging urban agricultural activities as a means of welfare for socially alienated classes and promoting the creation of jobs; the enhancement of the significance of study through hands-on activities from an educational perspective; the recycling and recovery of resources and the enhancement of environmental consciousness for the recovery of urban ecology; and a practical spirit that seeks to contribute directly to society through academic research that contributes to practical life and approaches familiar to the populace. The present study sought to find the value of urban agriculture, under discussion in diverse ways in recent years, in the thoughts of our ancestors, who pondered on agriculture. Despite differences in the periodic background, the significance of the present study lies in its in-depth reexamination of the fundamental significance of diverse agricultural values that are being pursued today.