• Journal of the Korea Institute of Information Security & Cryptology
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• v.29 no.6
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• pp.1271-1283
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• 2019

The fourth industrial revolution and digital transformation are also bringing major changes to the financial ecosystem in Korea. Already, global financial firms overseas are opening their financial markets and exploring new financial businesses by seeking ways to co-prosperity with fintech firms. However, it is also true that the domestic financial environment has failed to respond to the changes due to its monopolistic and closed structure. In response, the government began pushing for the introduction of open banking in December 2019 with the aim of fully opening the financial settlement system. However, unlike the existing simple financial transaction structure, open banking still has an unresolved part due to the unclear relationship of responsibilities between interested parties in the event of financial accidents due to the complex linkage structure of transactions such as financial firms, fintech firms and customers. This study analyzed the security threat of open banking in depth. By doing so, the government and financial firms want to present policy proposals that need to be improved to enhance the safety of open banking in korea and protect financial consumers, as well as new financial models that have improved the vulnerable parts of existing models.

• Journal of Information Technology Services
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• v.19 no.2
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• pp.109-124
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• 2020

Facing the 4^th Industrial Revolution era, researches on artificial intelligence have become active and attempts have been made to apply machine learning in various fields. In the field of finance, Robo Advisor service, which analyze the market, make investment decisions and allocate assets instead of people, are rapidly expanding. The stock price prediction using the machine learning that has been carried out to date is mainly based on the prediction of the market index such as KOSPI, and utilizes technical data that is fundamental index or price derivative index using financial statement. However, most researches have proceeded without any explicit verification of the prediction rate of the learning data. In this study, we conducted an experiment to determine the degree of market prediction ability of basic indicators, technical indicators, and system risk indicators (AR) used in stock price prediction. First, we set the core parameters for each financial indicator and define the objective function reflecting the return and volatility. Then, an experiment was performed to extract the sample from the distribution of each parameter by the Markov chain Monte Carlo (MCMC) method and to find the optimum value to maximize the objective function. Since Robo Advisor is a commodity that trades financial instruments such as stocks and funds, it can not be utilized only by forecasting the market index. The sample for this experiment is data of 17 years of 1,500 stocks that have been listed in Korea for more than 5 years after listing. As a result of the experiment, it was possible to establish a meaningful trading strategy that exceeds the market return. This study can be utilized as a basis for the development of Robo Advisor products in that it includes a large proportion of listed stocks in Korea, rather than an experiment on a single index, and verifies market predictability of various financial indicators.

• International Journal of Contents
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• v.14 no.4
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• pp.39-50
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• 2018

This paper analyzes the existing transportation systems of Nigeria and Korea and proposes a new railway and roadway design for Nigerian cities. The research findings and feasibility study revealed that the state of Nigeria's transportation system was critical as was its market segment, infrastructural deficit and financial requirement needed to implement a smart transportation system. The dilapidation of the existing infrastructure coupled with poor maintenance culture and limited public transport services has hindered the economic growth of Nigeria and its cities. A case study of Korea and Japan shows some possible solutions to Nigeria transportation challenges. Analytical and descriptive methods were used to critically assess the infrastructural challenges, movement, and convenience. The study proposed the design of a new intercity railroad and roadway across Abuja, Enugu, Lagos and Port Harcourt cities. The proposed designs have been established to be an innovative solution with advanced benefits over the current system. The implementation of the proposed designs is estimated to cost about US$(77,832,027,719) across the study areas. Thus, the discussion, conclusion, and recommendations given present a proposal to the Nigerian government on the possibility of solving the Nigerian intercity railroad and roadway transportation challenges across Abuja, Enugu, Lagos and Port Harcourt cities through smart designs.

• STI Policy Review
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• v.9 no.1
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• pp.133-157
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• 2018

The divide between the "digital" economy and the traditional "physical" economy is outdated. In fact, we are in a transition to a singular economy. This paper classifies economic objects (including actors) as either physical or virtual and argues that due to emerging technologies, these objects are interacting with each other in both physical and increasingly digital spheres in tandem. This paper recognizes the elemental difference between atoms and bytes but argues that physical and digital economic activities are becoming inseparably intertwined. Furthermore, arbitrarily dividing the economy into two categories - one "physical" and the other "digital" - distorts the overall view of the actual execution of economic activity. A wide range of innovations emerging concurrently is fueling the transition to a singular economy. Often referred to as the elements of the Fourth Industrial Revolution (4IR), four emerging technological areas are reviewed here: distributed ledger technology, artificial intelligence/machine learning/data sciences, biometrics and remote sensor technologies, and access infrastructure (universal internet access/electricity/cloud computing). The financial services sector is presented as a case study for the potential impact of these 4IR technologies and the blurring physical/digital line. To reach the potential of these innovations and a truly singular economy, it requires the concurrent development of social, organizational, and regulatory innovations, though they lag in terms of technological progress thus far.

• Journal of Navigation and Port Research
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• v.46 no.2
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• pp.134-144
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• 2022

The development and operation of autonomous ships are spotlighted as a next-generation technology that will provide newbenefits for the maritime business during the fourth industrial revolution. To expand the adoption of autonomous ships, the much more interest of the nation and the industries will have to be changed to actual adoption in shipping companies. For this, it is judged that research to identify the factors impacting the adoption intention of autonomous ships should be preceded. However, most studies on autonomous ships have focused on developing the technology, revising the law, establishing policies, and managing human resources, with few studies on influencing factors in the adoption of autonomous ships. A model, to identify the factors that impact the intention to the adoption of autonomous ships, based on the theory of diffusion of innovation and the TOE framework was developed. The suggested model was verified through empirical analysis targeting the shipping companies and the marine industries in Korea. As the result of this study, it was found that top management support, financial slack, and competitive intensity significantly impacted the intention to adopt autonomous ships. Additionally, it was revealed that the overall awareness of autonomous ships among Korean shipping companies is poor.

• Journal of the Korean Society of Systems Engineering
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• v.15 no.2
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• pp.79-86
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• 2019

Among the government-sponsored projects supported by Ministry of SMEs and Startups(MSS), the financial support of the Consulting Research Institutes of our university is scheduled to be ended this year. In this regard, this study is to develop a profit model for R&D center of Consulting Research Institute that can cultivate the financial independence of R&D center of Consulting Research Institutes and foster technology convergence consulting manpower to strengthen the competitiveness of SMEs in preparation for the Fourth Industrial Revolution. The profit model were derived from the current status of consulting industry and similar organizations, the current status of consulting graduate R&D centers, case studies of other universities, and focus group interviews. In order to select three high profit models and commercialize them, BMC (Biz Model Canvas) was used and business feasibility was examined. Therefore, three profit model of R&D center of Consulting Research Institute are: First, SCB (SME's Consulting Business: Total Solution Provider for SMEs through Technology Convergence Consulting), Second, SNB (SME's Network Business: Experts connection in Consulting Graduate School for Solving Problems and Problems of SMEs / Industry Consolidation) And third, SM (Sustainable Management: Financial independence through structural improvement of Consulting Research Institute), and the road-map was established. As an implementation plan, the company intends to seek financial independence by developing a profit model for R&D center of Consulting Research Institutes and by establishing business goals and strategies, manpower operation plan, organization, and investment plan for three years.

• Journal of the Korea Convergence Society
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• v.11 no.10
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• pp.243-255
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• 2020

The purpose of this study is to present the factors that affect business model and product innovation on the enterprise performance of the mobile ecosystem, and to confirm the results of whether they have an effect. To this end, through prior research, business model factors and product innovation factors were defined in the mobile ecosystem that was the mother of the 4th industry, and a hypothesis that each factor will affect corporate performance was established. Through the exploratory surveys and interviews, the value proposition of the business model proved to have a positive (+) effect on the financial and non-disaster performance of the company, and the innovation was proved to have a positive (+) effect on the non-financial performance of the company. It was analyzed that the price competitiveness of product innovation had a positive (+) effect on the financial factors of a company, and the initial market entry had a positive (+) effect on the non-financial factors. With this study, we propose the criteria for reviewing the performance of companies that are rapidly competing in the 4th industrial revolution in terms of business model and product innovation.

• The Journal of Society for e-Business Studies
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• v.24 no.4
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• pp.31-48
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• 2019

To survive in the trend of the fourth industrial revolution, companies are putting a lot of attention and effort into personalization services using the latest technologies such as big data, artificial intelligence and the Internet of Things, while entrusting third parties to handle personal information on the grounds of work efficiency, expertise and cost reduction. In such an environment, consignors need to check trustees on a more effective and reasonable basis to ensure personal information safety for trustees. This study used AHP techniques to derive the importance and priority of each item of "Personal Information Safety Assurance Measures" for financial companies and trustees, and objectively compared and analyzed differences in perceptions of importance between financial institutions and trustees. Based on this, the company recognizes the difference between self-inspection of financial institutions and inspection of trustees and presents policy grounds and implications for applying differentiated inspection standards that reflect the weights appropriate for the purpose.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.28 no.4
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• pp.889-903
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• 2018

Cloud computing has been activated globally due to the demands of the 4th industrial revolution and the efficient use of IT resources, and domestic usage is also increasing due to legislation and related laws. However, domestic financial companies are subject to various regulations due to the importance of their information and the ripple effects of accidents such as outflows. Only non-critical information processing systems that handle non-critical information are allowed to use cloud computing. Financial companies are required to set specific criteria and judgment to distinguish them. In this paper, we propose a method to enable the financial company cloud computing to be more active by specifying the ambiguous non - essential information processing system designation standard and making it easier to designate.

• Journal of Digital Convergence
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• v.19 no.12
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• pp.151-156
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• 2021

This study is aim to verify the mediating effect of entrepreneurial spirit on non-financial performance and self-efficacy. In this study, data were collected through a survey to investigate the relationship between variables, and empirical analysis of the research hypothesis was conducted using multiple regression analysis. The results of the study are as follows. First, entrepreneurship has a positive effect on self-efficacy; second, it suggests that the stronger entrepreneurship, the better self-efficacy. In addition, self-efficacy can produce positive results in various aspects, especially through this study, self-efficacy has resulted in improvement of non-financial performance.The results of this study have a positive effect on the various convergence of start-ups and the establishment of a stable start-up culture in the era of the Fourth Industrial Revolution.