• Proceedings of the Korean Operations and Management Science Society Conference
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• 2008.10a
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• pp.455-459
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• 2008

This study defines the Next Generation System(NGS) built by domestic financial businesses and classifies their architecture into two typical types according to the duration of the project and the relative cost of IT investment in the short term: the Big Bang approach and the Phase approach. Herein, we study the two approaches as alternatives in developing the Next Generation System, and derive the factors that are to be considered in the evaluation of the two alternatives for financial businesses. The set of standards for the choice between the two models are grouped into categories that constitute performance evaluation for IT - Cost, Performance and Risk. We drill down further into each category to second and third subordinate levels to derive detailed selection criteria. Based on the criteria drawn from the study, we conduct a survey with information system planners, IT managers and specialists at financial companies who are currently planning, developing or have completed a Next Generation System. Survey results are analyzed using the AHP methodology to compare and understand the different approach in the implementation of NGS for financial business.

• Management Science and Financial Engineering
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• v.21 no.1
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• pp.19-24
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• 2015

As decision makers do not make optimal decisions in practice despite the existence of optimal solutions in many models, there has been a rising interest in behavioral operations management recently. In this study, we aim for a comparative study to analyze the inventory decisions in Korea, America, and China, by conducting the same newsvendor experiment in Korea and compare the results with those of previous studies. From the comparative analysis, some national characteristics in decision-making processes have been observed but there is lowly significant difference in order quantities among the three groups. Korean students show lower level of understanding in demand distributions and tendencies of anchoring on the mean demand and being risk-averse. The finding that individuals make their own decisions differently based on their different behaviors suggests that we need to consider individual approach in analyzing human decision-making processes rather than adapting aggregate approach.

• International Area Studies Review
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• v.16 no.1
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• pp.75-98
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• 2012

This study seeks to address concerns, such as measurement and analysis in financial literacy, and also offers comparative evidence of financial literacy among Korean-Japanese, Japanese and Korean high school students. A robust measure of financial literacy amongst young people will provide information that can indicate whether the current approach to financial education is effective. Comparative results could be summarized as follows: First, the mean percentage of correct answers in a Korean school in Tokyo was lower than that in Japan, Korea, and U.S. Second, in income, saving & investing, spending & credit areas, Japanese students were more literate financially than those in the U.S., Korea, and a Korean school in Tokyo. And, in money management area, Korean students had higher score than those in the U.S., lower than those in Japan. Third, while the financial literacy in academic preparation was the highest area, that in household management was the lowest among other areas for all studies in Japan, Korea, U.S., and a Korean school in Tokyo.

• The Korean Journal of Financial Studies
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• v.3 no.2
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• pp.267-279
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• 1996

The prediction of future demand is a vital task in managing business operations. To this end, traditional approaches often focused on statistical techniques such as exponential smoothing and moving average. The need for better accuracy has led to nonlinear techniques such as neural networks and case based reasoning. In addition, experimental design techniques such as orthogonal arrays may be used to assist in the formulation of an effective methodology. This paper investigates a multistrategy approach involving neural nets, case based reasoning, and orthogonal arrays. Neural nets and case based reasoning are employed both separately and in combination, while orthoarrays are used to determine the best architecture for each approach. The comparative evaluation is performed in the context of an application relating to the prediction of Treasury notes.

• Journal of Digital Convergence
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• v.13 no.5
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• pp.31-39
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• 2015

In the modern society, as development innovative technology consumers could access various information. It make consumers empower in the market, and information asymmetry problem were solving more and more. In the technical information, however, there are still information asymmetry because technical information is very difficult to understand, and those are related with professional knowledge such as financial information. This study used the dataset which was collected to track Korean consumers consumption index by KCA(Korea Consumer Agency) which included consumer's problem experience at financial field. The results are followings. Firstly, consumers want to get exact and important information to decide purchase or not and comparative information in technical information area. Secondly, age is the influence variable to experience more problems in technical information section. Thirdly, consumer's subjective financial competency is major influence factor to reduce problem experience.

• Journal of Appropriate Technology
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• v.6 no.1
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• pp.65-78
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• 2020

This paper deals with challenges of Mongolian government regarding Economic Development Plan (hereafter EDP). EDP has a long history, appearing first in the socialist countries, then in European countries following the European Reconstruction Plan after the Second World War, and then in many developing countries after they gained independence from the colonial rule. Major challenges of the Mongolian EDP are largely related to the absence or lack of integrated approach. We will propose a new integrated framework based on the approach suggested by UNDP. The new framework consists of 5 core areas; 1) institutions and governance, 2) evidence-based and empirically backed policy options, 3) development of budgeting and financial system, 4) and monitoring and evaluation (M&E), 5) capacity development. In order to identify challenges in Mongolia, the new integrated approach was applied to diagnose current states. To understand current states of EDP in Mongolia, survey regarding EDP in Mongolia was conducted for the 43 officials of Ministry of Finance. The same approach was applied for Five-Year Economic Development Plans in Korea to compare performances with EDP in Mongolia. On the basis of comparative analysis of EDPs in Mongolia and Korea, some lessons are suggested.

• Earthquakes and Structures
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• v.11 no.4
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• pp.583-607
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• 2016

One of the main applications of seismic risk assessment is that an specific design could be selected for a bridge from different alternatives by considering damage losses alongside primary construction costs. Therefore, in this paper, the focus is on selecting the shape of pylon, which is a changeable component in the design of a cable-stayed bridge, as a double criterion decision-making problem. Different shapes of pylons include H, A, Y, and diamond shape, and the two criterion are construction costs and probable earthquake losses. In this research, decision-making is performed by using developed seismic risk assessment process as a powerful method. Considering the existing uncertainties in seismic risk assessment process, the combined incremental dynamic analysis (IDA) and uniform design (UD) based fragility assessment method is proposed, in which the UD method is utilized to provide the logical capacity models of the structure, and the IDA method is employed to give the probabilistic seismic demand model of structure. Using the aforementioned models and by defining damage states, the fragility curves of the bridge system are obtained for the different pylon shapes usage. Finally, by combining the fragility curves with damage losses and implementing the proposed cost-loss-benefit (CLB) method, the seismic risk assessment process is developed with financial-comparative approach. Thus, the optimal shape of the pylon can be determined using double criterion decision-making. The final results of decision-making study indicate that the optimal pylon shapes for the studied span of cable-stayed bridge are, respectively, H shape, diamond shape, Y shape, and A shape.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 1996.10a
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• pp.19-22
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• 1996

A traditional approach to the prediction of economic and financial variables takes the form of statistical models to summarize past observations and to project them into the envisioned future. Over the past decade, an increasing number of organizations has turned to the use of neural networks. To date, however, many spheres of interest still lack a systematic evaluation of the statistical and neural approaches. One of these lies in the prediction of corporate bond yields for Korea. This paper reports on a comparative evaluation of ARIMA models and neural networks in the context of interest rate prediction. An additional experiment relates to an integration of the two methods. More specifically, the statistical model serves as a filter by providing estimtes which are then used as input into the neural network models.

• The Korean Journal of Applied Statistics
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• v.16 no.2
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• pp.217-224
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• 2003

The volatility in the financial data is usually measured by conditional variance. Two main streams for gauging conditional variance are stochastic volatility (SV) model and autoregressive type approach (GARCH). This article is conducting comparative study between SV and GARCH through the Korean Stock Prices Index (KOSPI) data. It is seen that SV model is slightly better than GARCH(1,1) in analyzing KOSPI data.

• The Korean Journal of Financial Management
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• v.1 no.1
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• pp.119-131
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• 1985

Although Korea is short of capital technology, and natural resources, she has achieved an outstanding progress by the export-drive policies by Korean government and the creative endeavor of Korean firms. As a result of that, Korean economy and enterprises are in the same file of newly industrialized countries and Korea is ready for an economic take-off as a developed country. But in the early 1980s, each country strengthens protective trade theory and resources nationalism, and this has a great influence on the field of international trade environment. In spite of that, to continue the same high development as that of the past. Korea must try to secure and find export markets, solve trade barriers, make sure of the long-term security of resources, develop technology, and strengthen economic cooperations. To satisfy these desires by 2000s, we must try to make Korean enterprises have the global competitive power and them grow strongly among world wide firm through capital and technology accumulated during the passed years, and to do so, there must be a foreign production and marketing management, too, this can be achieved only through foreign overseas direct investment. This investment has various forms, to say, verifical integrated, horizontal integrated. conglomerate integrated forms, and the amount of investment in each country from 18 century to today reaches 500 billion dollars. This investment is done by strategic, behavioral economic, and financial motives. So I am going to approach the fields of like these; in spite of the differences among political, economical, caltural, and social systems, and many risk compared with domestic enterprises, why do Korean firms witsh to transfer the productive facilities to overseas countries and run them there? What is the comparative advantage of foreign direct investment compared with domestic investment ?. why is the factor of comparative advantage transferred through foreign direct investment?, what is the motive of foreign overseas direct investment?, and last the ownership-specific factors and the theory of internalization, and the location specific factors were analysed chiefly. But in consideration of the given condition in Korea, Korean overseas direct investment must be propelled rationally on the basis of the above mentioned theory.