• Title/Summary/Keyword: increasing returns

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Guaranteed Reserve Projections for the Guaranteed Interest Contract of Collective DC Funds (통합운영 DC의 이율보증 준비금 추정에 관한 연구)

  • Sung, Joo-Ho;Seo, Dong-Won;Lee, Dong-Hwa
    • Journal of the Korea Society for Simulation
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    • v.28 no.3
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    • pp.57-63
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    • 2019
  • This study suggests the level of guaranteed reserves that should be accumulated in order to provide guaranteed interest contracts to pension members. To calculate the guaranteed reserve, this study employs the method using variable insurance contracts with guaranteed interest options. The average return of three major pensions (national pension, private teacher's pension, civil servants pension) funds, from 2010 to 2018, is set as the target rate of return and then we establish 0%, 1.0%, 1.5% and 2.0% each as our minimum guaranteed returns for their respective guaranteed reserves. Our results firstly show that gaps between each guaranteed reserves are increasing as times goes on. Second, the probability of shortfall reserve is on the decrease as the pension fund is mature. Conclusively, a long-term conservative balance between risk and return is one of the best investing strategies in pension funds providing the guaranteed interest.

Estimating the Impacts of Investment in a National Open Repository on Funded Research Output in South Korea

  • Hwang, Hyekyoung;Seo, Tae-Sul;Han, Yong-Hee;Ko, Sung-Seok
    • Journal of Information Science Theory and Practice
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    • v.7 no.1
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    • pp.39-51
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    • 2019
  • Open access is a paradigm whereby the electronic versions of scholarly publications are made freely accessible without any restrictions. It is actively promoted globally and is also promoted domestically in accordance with this global trend. However, there is a growing need to evaluate existing activities and to seek policies for the steady spread of open access. This study examines the necessity of switching to a national repository from existing institutional repositories through policy direction analysis of open repositories. We examined domestic open access policies by analysing various overseas cases and the situation in South Korea. Finally, we determined the validity of investment in a national repository by analysing its social and economic impacts using the modified Solow-Swan model. The main parameters for applying the modified Solow-Swan model were estimated, and the domestic research and development expenditure was predicted via a regression method. Then, we applied a range of rate of returns to research and development (10% to 50%) to various scenarios and examined the effects of increasing accessibility and efficiency by 1% to 10%. We found that the implementation of a national open access repository in South Korea would have a substantial impact (to the tune of 147 billion won), without considering the potential costs of such a repository. Based on the estimates of the social and economic impact of a national repository, the implementation of a national open access repository in South Korea is economically viable. Besides having beneficial social and economic impacts, a national repository is expected to enhance awareness of open access among Korean researchers and institutions.

Effect of thermal annealing on low-energy C-ion irradiated MgB2 thin films

  • Jung, Soon-Gil;Son, Seung-Ku;Pham, Duong;Lim, W.C.;Song, J.;Kang, W.N.;Park, T.
    • Progress in Superconductivity and Cryogenics
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    • v.21 no.3
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    • pp.13-17
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    • 2019
  • We investigate the effect of thermal annealing on $MgB_2$ thin films with thicknesses of 400 and 800 nm, irradiated by 350 keV C-ions with a dose of $1{\times}10^{15}atoms/cm^2$. Irradiation by low-energy C-ions produces atomic lattice displacement in $MgB_2$ thin films, improving magnetic field performance of critical current density ($J_c$) while reducing the superconducting transition temperature ($T_c$). Interestingly, the lattice displacement and the $T_c$ are gradually restored to the original values with increasing thermal annealing temperature. In addition, the magnetic field dependence of $J_c$ also returns to that of the pristine state together with the restoration of $T_c$. Because $J_c$(H) is sensitive to the type and density of the disorder, i.e. vortex pinning, the recovery of $J_c$(H) in irradiated $MgB_2$ thin films by thermal annealing indicates that low-energy C-ion irradiation on $MgB_2$ thin films primarily causes lattice displacement. These results provide new insights into the application of low-energy irradiation in strategically engineering critical properties of superconductors.

Efficient Utilization of Public Bicycle Stations (공영자전거 스테이션의 효율적 활용 방안에 관한 연구)

  • Park, Ki Jun;Jung, Hun Young
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.42 no.1
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    • pp.75-81
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    • 2022
  • Public bicycles are a representative eco-friendly transportation means that can reduce carbon emissions and play an important role in first/last mile mobility and that can be linked to public transportation in the future MaaS era. In 2008, Changwon City started operating donor bicycles for the first time in Korea. However, as the infrastructure of public bicycles has expanded without a theoretical basis for over 10 years, operating costs are increasing due to a decrease in operational efficiency, which makes it difficult to quantitatively expand the service. In this study, a method for calculating the number of stands suitable for the use of public bicycles was presented, and an efficiency index was developed to evaluate the efficiency of public bicycle infrastructure. The method presented in this study was found by examining the relationship between numbers of rentals and returns of public bicycles and the number of bicycle holders. It is expected that the results can be used by other local governments.

Research of the Delivery Autonomy and Vision-based Landing Algorithm for Last-Mile Service using a UAV (무인기를 이용한 Last-Mile 서비스를 위한 배송 자동화 및 영상기반 착륙 알고리즘 연구)

  • Hanseob Lee;Hoon Jung
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.46 no.2
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    • pp.160-167
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    • 2023
  • This study focuses on the development of a Last-Mile delivery service using unmanned vehicles to deliver goods directly to the end consumer utilizing drones to perform autonomous delivery missions and an image-based precision landing algorithm for handoff to a robot in an intermediate facility. As the logistics market continues to grow rapidly, parcel volumes increase exponentially each year. However, due to low delivery fees, the workload of delivery personnel is increasing, resulting in a decrease in the quality of delivery services. To address this issue, the research team conducted a study on a Last-Mile delivery service using unmanned vehicles and conducted research on the necessary technologies for drone-based goods transportation in this paper. The flight scenario begins with the drone carrying the goods from a pickup location to the rooftop of a building where the final delivery destination is located. There is a handoff facility on the rooftop of the building, and a marker on the roof must be accurately landed upon. The mission is complete once the goods are delivered and the drone returns to its original location. The research team developed a mission planning algorithm to perform the above scenario automatically and constructed an algorithm to recognize the marker through a camera sensor and achieve a precision landing. The performance of the developed system has been verified through multiple trial operations within ETRI.

A Study on the Strategic Trade Policy of Korea, China and Japan in the Era of Digital Trade (디지털무역 시대의 한국·중국·일본의 전략적 무역정책에 관한 연구)

  • Jia-Jia Liu;Nak-Hyun Han
    • Korea Trade Review
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    • v.47 no.6
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    • pp.335-353
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    • 2022
  • There are two aspects of digital trade: the digitalisation of goods/services being traded and the digitalisation of the transactional act. Digital data (i.e. machine-readable industrial data and transactional data) is the major driving force for both aspects of digital trade. Digital data is a non-rivalrous input, whether for production or marketing activities, and is thus able to be used by many firms or government agencies without limiting the use of others. Digital platforms provide online infrastructure for the interactions between groups, for instance, consumers and producers. The externality effect refers to the situation in which prosperity in one group on a given platform will improve the returns of other groups on the same platform. In the era of the data-driven economy, strategic trade policy can involve data-related policies. The major objective of these policies is to improve the competitiveness of domestic firms. For instance, firms may be subsidised if they use cloud services provided by specific platforms. This strand of strategic trade policies might be useful for increasing the competitiveness of small-and medium-sized enterprises (SMEs) via the digitalisation of production/marketing processes. Alternatively, strategic trade policy may also exploit the externality effect via platform economy-related policies. Further, some countries may form data coalitions to facilitate cross-border data flow. This paper uses cases in Asian countries to illustrate which role these strategic trade policies can play in the digital economy.

Detection Models and Response Techniques of Fake Advertising Phishing Websites (가짜 광고성 피싱 사이트 탐지 모델 및 대응 기술)

  • Eunbeen Lee;Jeongeun Cho;Wonhyung Park
    • Convergence Security Journal
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    • v.23 no.3
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    • pp.29-36
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    • 2023
  • With the recent surge in exposure to fake advertising phishing sites in search engines, the damage caused by poor search quality and personal information leakage is increasing. In particular, the seriousness of the problem is worsening faster as the possibility of automating the creation of advertising phishing sites through tools such as ChatGPT increases. In this paper, the source code of fake advertising phishing sites was statically analyzed to derive structural commonalities, and among them, a detection crawler that filters sites step by step based on foreign domains and redirection was developed to confirm that fake advertising posts were finally detected. In addition, we demonstrate the need for new guide lines by verifying that the redirection page of fake advertising sites is divided into three types and returns different sites according to each situation. Furthermore, we propose new detection guidelines for fake advertising phishing sites that cannot be detected by existing detection methods.

Under-Utilization of Women's Education in Korean Labor Market: A Macro-Level Explanation (한국 노동시장에서 여성교육의 저활용: 거시적 차원의 설명)

  • 이미정
    • Korea journal of population studies
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    • v.19 no.2
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    • pp.107-137
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    • 1996
  • Under-utilization of Korean women's education in the labor market has been observed and pointed out as a waste of valuable human resources. Although education provides women with positive returns when they work, it has been found that Korean women's education is not much related to the likelihood of women's labor force participation. This tendency cannot be explained by micro-economic theory, which says that educated women are more likely to participate in the labor force. Thus, in this analysis, a macro-level explanation is attempted to understand Korean women's economic behaviors in relation to education. Korea's rapid industrialization since 1960 has provided ample job opportunities mostly for less educated women. On the other hand, increasing demand for educated female labor has been moderate. Various restriction against women, especially married women, have prevailed in the Korean labor market. Restrictions against women and the marriage bar tend to be selectively applied to decent white-collar jobs, mostly affecting educated women. Furthermore, there has been no shortage of educated male labor due to its adequate supply. Since Korean women spend most of their adult lives in marriage, married women's low participation in the labor force is a critical factor for the low economic returns to women's education throughout their lifetime. Restriction against married women in the labor market also existed in the past of the United States and the Great Britain. However, along with the expansion of the service sector, married women in great numbers flowed into non-manual jobs. The post-1940 increase of married women in the labor force in those countries can be understood to be a result of a labor shortage for non-manual jobs. Also in Taiwan, which shares many common cultural and economic backgrounds with Korea, the marriage bar has been in decline since the late 1970s, along with an increasing demand for female labor in the service sector. In sum, the changes in the demand structure and the supply of educated male labor force will contribute to the lift of the marrige bar in Korea.

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A Study on the Protection for Consumer on Expending Overseas Direct Purchase -Focus on Guarantee System- (해외직접구매 증가에 따른 소비자보호 연구 -보증제도 중심으로-)

  • Park, Jong Hyun
    • International Commerce and Information Review
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    • v.17 no.2
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    • pp.173-197
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    • 2015
  • The development of IT expanded the scale of e-commerce, and grew large Internet shopping malls. As having raised the consumers' interest in overseas direct purchase(ODP) recently, the number and purchasing amount of ODP are constantly increasing. However, consumers need to pay attention to the potential problems which might happen by consumer's damage and conflict, as increasing the consumption through ODP. Because consumer's damages on utilizing ODP happen to the reason such as the trust problem between business and consumer due to the way which traded non face to face, non-compliance of goods delivery, returns, and refunds, and information asymmetry of items, a large number of consumer's damages in a wide range are much more likely to occur nowadays. The purpose of this study is to analyze the current state of ODP, and propose consumer damage's reduction and policy of the government through pre or post scheme for consumer damage's relief and consumer protection. As the compensation for consumer damages is actually inadequate, this study proposed a feasible alternative to the adoption of e-commerce insurance for both aggressive compensation and protection for consumer's damages and risk transfer and sustainable development of e-commerce.

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Efficiency Analysis of Credit Guarantee Institutions in North-eastern Asian Countries and Its Implication : Comparison Analysis of Credit Guarantee Corporations of Japan, Taiwan, and Korea (동북아시아지역 신용보증기관의 효율성 분석과 정책적 함의: 일본, 대만, 한국 신용보증기관의 비교분석)

  • Park, Chang il
    • International Area Studies Review
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    • v.22 no.2
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    • pp.61-91
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    • 2018
  • Credit Guarantee scheme is one of the most effective tools for the small business policy. The performance analysis on domestic institution level is relevant in terms of various factors of assisting tools factor. This study measured comparative global efficiency by DEA model and Super-efficiency model among 70 credit guarantee institutions in Japan, Taiwan, and Korea who are operating the schemes. At the result of the analysis, Korean credit guarantee institutions are comparatively efficient than Japanese institutions, and the DMU shows moderate in operation efficiency. The Super-efficiency ranked by Hiroshima, Taiwan SMEG, Pusan, Chiba, Shizuoka, Ulsan, and KOTEC. Most of the Credit Guarantee Institutions showed increasing returns to scale, and it indicates increasing input strategy. The statistical difference of efficiency level in Japan and Korea shows very meaning numbers. This research suggest that (1)Periodical Analysis are needed on Japanese Schemes, (2)The analysis on the impact of credit guarantee scale to the national economy and SME policy, (3) Analysis on the conclusive factors of the efficiency, (4)The policy direction has to be made by inefficient factor analysis, (5) The measurement tools of efficiency of the schemes in various aspects.