• The Korean Journal of Financial Management
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• v.25 no.3
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• pp.111-130
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• 2008

This paper compares long term equilibrium relation of KOSPI 200 which is underling stock and its futures by using general method fractional cointegration instead of existing integer cointegration. Existence of integer cointegration between two price time series gives much wider information about long term equilibrium relation. These details grasp long term equilibrium relation of two price time series as well as reverting velocity to equilibrium by observing difference coefficient of error term when it renounces from equilibrium relation. The result of this study reveals existence of long term equilibrium relation between KOSPI200 and futures which follow fractional cointegration. Difference coefficient, d, of 'two price time series error term' satisfies 0 < d < 1/2 beside bandwidth parameter, m(173). It means two price time series follow stationary long memory process. This also means impulse effects to balance price of two price time series decrease gently within hyperbolic rate decay. It indicates reverting speed of error term is very low when it bolts from equilibrium. It implies to market maker, who is willing to make excess return with arbitrage trading and hedging risk using underling stock, how invest strategy should be changed. It also insinuates that information transition between KOSPI 200 Index market and futures market does not working efficiently.

• Journal of the Korean Institute of Landscape Architecture
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• v.38 no.3
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• pp.115-125
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• 2010

A theme park is not just a recreational space for leisure activities, but also a place of storytelling as collected around abstract boundaries called themes. These stories are 'a space that tells the meaning' that the visitor is looking for and the Robot Land space offers robots, humans, and nature. This study is a description of the design strategy and content of the work which was elected as a subject of the subsequent rank negotiation of the Masan Robot Land design contest for the selection of a private contractor. The focus of the plan is, first, the organizational power of each space and the delivery power of a theme for the history of revisits, which might be considered depending on whether or not the theme park has been successful in the visitor's mind. Second, it is to actively use the potential of Masan, which is not only the key hub of the mechanical industry but also has beautiful coastal resources. First, they created a space that can flexibly react depending on the user's desire and the change of form, minimizing environmental damage by using a linear metabolism that can provide an amalgam of the elemental characteristics of robots, humans, and nature as motifs. They introduced a planting plan for the admissions square, an existing forest, slope, vacation spot, the inside of a complex, and Eco Island, etc. by utilizing symbolic meaning and adjusting to the spatial characteristics of each space. In addition, they sought a detailed space by setting up zones tailored to the use and character of the subject area, having exhibitions and education about robots, vacation facilities for lodgers, various recreational and commercial facilities, and space for utopian gardens as themes. They planned Masan Robot Land to be a true cultural space that creates mental richness on the basis of not only the economical effects but also local emotion.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2018.11a
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• pp.162-163
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• 2018

This study introduces the R&D project of development of the 1st LNG bunkering barge in Korea. The Design and pilot test of Barge-To-Ship 500cbm LNG bunkering barge system for coastal trading LNG-fueled ship is proposed. The following technologies will be developed from the project ; Basic/Detail design and pilot test of LNG Bunkering barge system, Basic/Detail design and pilot test of LNG bunkering process system considering LNG loading/unloading, Basic/Detail design and pilot test of 500cbm LNG tank in type-C, Evaluation of bunkering performance according to conditions (environment, SIMOPs) by numerical simulation, Performance evaluation of bunkering barge, towed barge and Barge-To-Ship motion considering ocean environment load, and scenario in Barge-To-Ship LNG bunkering. This project will contribute expansion to LNG-fueled ship industry and pave the way to establish LNG bunkering hub port.

• Management & Information Systems Review
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• v.39 no.3
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• pp.53-82
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• 2020

Daejeon Metropolitan City has the best innovation capability infrastructure (ICT) required for the 4th industry. Nevertheless, there are scattered factors that hinder the industrial ecosystem. In this study, the factor of job creation was approached from the viewpoint of organizational ecology in consideration of regional characteristics during the 4th Industrial Revolution.That is, the case of job creation through overseas ICT-based clusters (or cities) was examined. Then, the factors of organizational ecology, 'niche', 'variation', 'selection', and 'retention' were derived. Through this process, we explored the environment surrounding Daejeon Metropolitan City and benchmarked lessons from existing overseas cluster cases. As a result, we discover the 'niche' of ICT-based job creation and suggest strategies for the 'variation' process to survive in the ecosystem and how to be 'retention' in the ecosystem. n conclusion, the strategy of the organizational ecological approach to establish itself as a metropolitan city as the strength of Daejeon city and the 'innovation hub' that is evident, such as '4th Industrial Revolution City', 'Innovation City Designation', and 'Secure Excellent Capability of SW' Insist on need. Through this study, we hope that there will be a theoretical contribution to the prior research lacking from original research such as the scarcity of ICT-based job creation research in response to the era of the fourth industrial revolution, recognition of the importance of the region in job creation, and presentation of an organizational ecological approach of sustainable clusters.

• Journal of Digital Convergence
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• v.11 no.11
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• pp.177-190
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• 2013

Recently, our society is seeing cultural value in a new light, perceiving it as an element that creates new values added. Reflecting this trend, the local governments in various levels focus on reviving the regional economies by enhancing cultural competencies and developing the culture and tourism industries. This research is conducted to perform the policy project 'administrative support plans to make Seongnam a hub of international culture and tourism,' which was proposed as part of the urban renewal strategy of the city. This study proposes the establishment of 'policy communities' to build the infrastructure for 'creative cultural content tourism' as a plan to accomplish the policy goal pursued by Seongnam. The focuses include what the policy communities are, how they work, and what the local government has to do with them for a successful implementation of proposed policies, by theoretically examining the composition variables of policy communities. In particular, the study concentrates on how to reconstruct the infrastructure for the culture content technology (CT) in the IT-based city and to transform itself into a city of "creative cultural content tourism". If the policy communities are formed under the proposed model in this paper, it is expected that they will become the viable alternatives in the field.

• Transactions of the Korean Society of Mechanical Engineers A
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• v.34 no.11
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• pp.1757-1763
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• 2010

Flywheel energy storage system (FESS) is defined as a high speed rotating flywheel system that can save surplus electric power. The FESS is proposed as an efficient energy storage system because it can accumulate a large amount of energy when it is operated at a high rotating speed and no mechanical problems are encountered. The FESS consists of a shaft, flywheel, motor/generator, bearings, and case. It is difficult to simulate rotor dynamics using common structure simulation programs because these programs are based on the 3D model and complex input rotating conditions. Therefore, in this paper, a program for the FESS based on the 2D FEM was developed. The 2D FEM can model easier than 3D, and it can present the multi-layer rotor with different material each other. Stiffness changing of the shaft caused by shrink fitting of the hub can be inputted to get clear solving results. The results obtained using the program were compared with those obtained using the common programs to determine any errors.

• Journal of Korea Port Economic Association
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• v.27 no.2
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• pp.261-273
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• 2011

Mega-corporations are emerging as a result of M&As (mergers and acquisitions) in the logistics industry. The global logistics market has progressed in a continuously competitive manner. Global logistics corporations provide integrated set of services, from production to disposal in order to manage the process efficiently throughout the diverse regions of the world. To advance into an total integrated logistics provider, the corporation must have professional knowledge in logistics and information technology which are necessary to deliver effective integrated logistics solutions. The government has integrated the logistics corporations both horizontally and vertically with the aim to foster logistics corporations possessing global competitiveness. Six years have passed since the implementation of the comprehensive (total) logistics industry certification system in pursuit of making Korea the hub for the Northeast Asian logistics market. This study compares and analyzes the efficiency of nine mega integrated logistics providers by applying the CCR model and BCC model. Each of the nine corporations is subject to certification as integrated logistics corporations. In Korea, nine corporations are certified individually as integrated logistics corporations out of the 31 logistics providers. The analysis showed that the Glovis was the most efficient integrated logistics provider reaching 100% in efficiency and displayed the highest efficiency for six consecutive years from 2005 to 2010. The study also found that the Glovis will be able to maintain 100% in efficiency rate, even though the input are increased over six times as many as those of 2010.

• Journal of Korea Port Economic Association
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• v.25 no.4
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• pp.203-224
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• 2009

The purpose of this paper is to analyze the relationship between the budget allocation of Busan-Gwangyang port and political variables such as general election, presidential election, local election and political regimes. To do this, this study did correlation analyses using budget data of all ports in Korea, Busan, and Gwangyang during 1985-2007. The main results of the correlation analyses are as follow: First, there was a positive correlation between budget of Busan and local election. Also, there was a positive correlation between budget of Gwangyang and presidential election. This results suggest that public choice model and political business cycle model seem to apply to the port development policy. Second, there was no correlation between the regionalism of the political regime and budget of Busan-Gwangyang ports. Third, it can be inferred that the national agenda of the hub strategy can be positively related to the implementation of port development budget. Further studies are needed to analyse the relationship between the political variables and establishment of port plan, decision making about port development and ground-breaking of port construction.

• Journal of Korea Port Economic Association
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• v.35 no.3
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• pp.19-40
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• 2019

Ports have been facing the adverse impacts of the global recession. In terms of imports, with a vast consumption hinterland, the Incheon Port has developed as the metropolitan's gateway. Additionally, the port's exports to China has been increasing due to a consistent increase in the demand of cold chain foods in the country. Considering the short distance between the Incheon Port and the ports in Northern China, the Incheon Port can serve as a logistics hub and a distribution center for exporting processed foodstuffs to China. The establishment of a cold chain logistics system at the Incheon Port will prove to be a robust strategy. After reviewing studies and interviews from various departments, this study suggested strengths, weaknesses, opportunities, and threats (SWOT) facing the Incheon Port, based on a SWOT analysis; it also recommended competitive strategies for the port. Additionally, the study used the analytic hierarchy process (AHP) to identify important factors such as the infrastructural, operational, cost, and technology factors. This study identified the infrastructural factor to be highly critical to the activation of the Incheon Port's cold chain system. Based on the results, the study proposed policies and strategy directions.

• Korean Journal of Social Welfare
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• v.63 no.1
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• pp.57-84
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• 2011

This study aims to analyze a whole network effectiveness by expanding the unit of analysis beyond individual organizations in a network into network-level collaborative relations. Data for the analysis were drawn from the evaluation reports and surveys of leaders, mid-level managers, and staff members of the organizations participating in 'Community Network Building' project which was funded by Community Chest of Korea and carried out by the Academy of Korean Social Welfare Administration from November 2006 to November 2009. For the analysis, three out of the 10 networks established in diverse local communities were selected. Based on the survey conducted on the participating organizations and the center organization of each network, we analyzed the structural characteristics of interorganizational network at a network-level. Second, to analyze effectiveness of the whole network, we employed a multiple stakeholders perspective and examined the relations between the whole network's structure and its effectiveness. The findings showed that the whole network effectiveness is higher when the network is more centralized around the hub organization and more stable. The significance of this study is that it is provided and tested a new framework for network effectiveness evaluation by combining the two network effectiveness evaluation framework of Provan and Milward's with evolutionary organizational theory.