• Proceedings of the KIEE Conference
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• 2003.11a
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• pp.438-440
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• 2003

This paper resents an application of an Artificial Neural Network(ANN) technique to forecast the short-term system marginal price(SMP). The forecasting of SMP is a very important factor in an electricity market for the optimal biddings of market participants as well as for the market stabilization of regulatory bodies. The proposed neural network scheme is composed of three layers. In this process, input data are set up to reflect market conditions. And the $\lambda$ that is the coefficient of activation function is modified in order to give a proper signal to each neuron and improve the adaptability for a neural network. The reposed techniques are trained validated and tested with the historical real-world data from korea Power Exchange(KPX).

• Industry Promotion Research
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• v.9 no.2
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• pp.29-35
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• 2024

Recently, the Korean financial market has implemented a ban on unleveraged short selling, and leveraged short selling, which involves selling borrowed securities, is called general short selling. This study sought to come up with improvement measures to revitalize short selling from the perspective of individual investors. Short selling refers to selling stocks you do not own in the stock market, predicting that the stock price of the stock will fall, and borrowing stocks to sell them. Based on the results of this study, the short selling market's growth and improvement plans are as follows. First, a plan must be developed to expand short selling opportunities for individual investors. In the domestic short selling market, including KOSPI and KOSDAQ, foreign and institutional participants account for more than 95% of the market, and individual investors are very small. Therefore, its expansion is inevitable. Second, monitoring and punishment for unfair short selling transactions must be strengthened. Representative improvement measures that can minimize the side effects of short selling include strengthening monitoring of unfair trading and short selling, and raising the level of punishment. In addition, measures must be taken to further increase the level of punishment for short selling related to unfair transactions. Third, the short selling reporting and disclosure system needs to be improved. In the case of Korea, short selling transactions are not yet as active as in developed countries, but there is a need to expand the disclosure system to strengthen market transparency in preparation for future short selling transactions becoming more active. In conclusion, it is reported that if short selling regulations are excessively strengthened, losses may occur in terms of price efficiency and market liquidity, which may ultimately have a negative impact on the market. Therefore, policies related to short selling must be made while taking into account the positive aspects of regulatory effects and the negative impact on the market.

• Journal of Intelligence and Information Systems
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• v.24 no.2
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• pp.195-220
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• 2018

In this study, we conducted an empirical analysis of the factors that affect the change of Bitcoin Closing Price. Previous studies have focused on the security of the block chain system, the economic ripple effects caused by the cryptocurrency, legal implications and the acceptance to consumer about cryptocurrency. In various area, cryptocurrency was studied and many researcher and people including government, regardless of country, try to utilize cryptocurrency and applicate to its technology. Despite of rapid and dramatic change of cryptocurrencies' price and growth of its effects, empirical study of the factors affecting the price change of cryptocurrency was lack. There were only a few limited studies, business reports and short working paper. Therefore, it is necessary to determine what factors effect on the change of closing Bitcoin price. For analysis, hypotheses were constructed from three dimensions of consumer, industry, and macroeconomics for analysis, and time series data were collected for variables of each dimension. Consumer variables consist of search traffic of Bitcoin, search traffic of bitcoin ban, search traffic of ransomware and search traffic of war. Industry variables were composed GPU vendors' stock price and memory vendors' stock price. Macro-economy variables were contemplated such as U.S. dollar index futures, FOMC policy interest rates, WTI crude oil price. Using above variables, we did times series regression analysis to find relationship between those variables and change of Bitcoin Closing Price. Before the regression analysis to confirm the relationship between change of Bitcoin Closing Price and the other variables, we performed the Unit-root test to verifying the stationary of time series data to avoid spurious regression. Then, using a stationary data, we did the regression analysis. As a result of the analysis, we found that the change of Bitcoin Closing Price has negative effects with search traffic of 'Bitcoin Ban' and US dollar index futures, while change of GPU vendors' stock price and change of WTI crude oil price showed positive effects. In case of 'Bitcoin Ban', it is directly determining the maintenance or abolition of Bitcoin trade, that's why consumer reacted sensitively and effected on change of Bitcoin Closing Price. GPU is raw material of Bitcoin mining. Generally, increasing of companies' stock price means the growth of the sales of those companies' products and services. GPU's demands increases are indirectly reflected to the GPU vendors' stock price. Making an interpretation, a rise in prices of GPU has put a crimp on the mining of Bitcoin. Consequently, GPU vendors' stock price effects on change of Bitcoin Closing Price. And we confirmed U.S. dollar index futures moved in the opposite direction with change of Bitcoin Closing Price. It moved like Gold. Gold was considered as a safe asset to consumers and it means consumer think that Bitcoin is a safe asset. On the other hand, WTI oil price went Bitcoin Closing Price's way. It implies that Bitcoin are regarded to investment asset like raw materials market's product. The variables that were not significant in the analysis were search traffic of bitcoin, search traffic of ransomware, search traffic of war, memory vendor's stock price, FOMC policy interest rates. In search traffic of bitcoin, we judged that interest in Bitcoin did not lead to purchase of Bitcoin. It means search traffic of Bitcoin didn't reflect all of Bitcoin's demand. So, it implies there are some factors that regulate and mediate the Bitcoin purchase. In search traffic of ransomware, it is hard to say concern of ransomware determined the whole Bitcoin demand. Because only a few people damaged by ransomware and the percentage of hackers requiring Bitcoins was low. Also, its information security problem is events not continuous issues. Search traffic of war was not significant. Like stock market, generally it has negative in relation to war, but exceptional case like Gulf war, it moves stakeholders' profits and environment. We think that this is the same case. In memory vendor stock price, this is because memory vendors' flagship products were not VRAM which is essential for Bitcoin supply. In FOMC policy interest rates, when the interest rate is low, the surplus capital is invested in securities such as stocks. But Bitcoin' price fluctuation was large so it is not recognized as an attractive commodity to the consumers. In addition, unlike the stock market, Bitcoin doesn't have any safety policy such as Circuit breakers and Sidecar. Through this study, we verified what factors effect on change of Bitcoin Closing Price, and interpreted why such change happened. In addition, establishing the characteristics of Bitcoin as a safe asset and investment asset, we provide a guide how consumer, financial institution and government organization approach to the cryptocurrency. Moreover, corroborating the factors affecting change of Bitcoin Closing Price, researcher will get some clue and qualification which factors have to be considered in hereafter cryptocurrency study.

• Journal of Digital Convergence
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• v.19 no.11
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• pp.255-266
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• 2021

Investment demand for factory facilities has increased due to the balloon effect caused by housing price regulation. This study investigated the impact of the real estate market and macroeconomic factors on the bid price ratio of apartment auctions and factory auctions, focusing on the metropolitan area. To this end, we reviewed theories and previous studies on real estate auctions, and examined how macroeconomic variables affect bid price ratio of apartments and factories using the panel vector autoregressive model. It was found that the increase in the apartment bid price ratio increases as the participation in apartment auctions increases. However, as the factory bid price ratio increases, the factory bid price ratio does not increase, it was confirmed that the positive (+) relationship between the successful bid price ratio and the bid price ratioe does not exist, unlike previous studies. Based on the analysis results, it is suggested that the real estate market and macroeconomic factors should be considered for the stable operation of the related relevant auction system. This study has limitations in that it is limited to the metropolitan area. In the future, research that expands the scope of research to the whole country and provinces should be conducted.

• International Commerce and Information Review
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• v.11 no.3
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• pp.239-262
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• 2009

This study shed light on the status of Korean Kimchi industry in overseas markets and presented methods for promoting Kimchi industry of Gwangju Jeonnam metropolitan city and stimulating the export of Kimchi produced in Gwangju Jeonnam, a city that has come to the fore as the center of Kimchi industry, which aimed to explore the ways of ratcheting up competitiveness of Kimchi industry in the global market as Kimchi has become more likely to be globalized amid the recent "Korea Trend" boom and the growing consumption of fermented food. Therefore, methods for promoting Kimchi industry and stimulating the export of Kimchi should be explored to ensure the promotion of Kimchi industry and the stimulation of the export of Kimchi, ultimately restoring the status of Korea as the home of Kimchi, in consideration of the great spillover effect on the regional economy, through a series of measures such as the clusterization of Kimchi industry, expansion of cultural experience projects related to Kimchi for the globalization and the increased consumption of Kimchi, government support to increase Kimchi companies in size and achieve the modernization of Kimchi companies, introduction of Kimchi KS audit system and quality certification system, development of new product targeting global market and making Kimchi a high-end product, expansion of export, support of export market diversification, assurance of safety and price competitiveness of Kimchi, differentiated production and marketing strategy by means of technological research, and others.

• Korea Trade Review
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• v.42 no.6
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• pp.27-50
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• 2017

This study is to present practical plan to stimulate Parallel Import Policies, Which is one of the government policies to drop import prices of imported goods. Although, preliminary studies focused on legal aspects related to Intellectual Property Right, from the perspective of trade, we conducted a study on economic aspects through parallel import, consumer welfare, etc. For this study, the parallel import system of the United States and Japan was compared with Korea and the domestic parallel import market status was analyzed by comparing market price. According to the study, the current parallel import system lacked the limits of government regulation and distribution market structure. It proposed practical plans such as political suggestions and changes in distribution structure. This study is meaningful in analyzing the problem of parallel imports that currently occur in the Korea market based on data concerning parallel imports in practical terms

• Journal of Korea Society of Digital Industry and Information Management
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• v.8 no.4
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• pp.245-261
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• 2012

This study thus set out to empirically analyze connections between the success factors of marketing and management performance in the silver industry. For that purpose, the investigator analyzed relations between independent variables, which include such success factors of marketing as market segmentation, product mix, customer relational management, brand asset, price strategy, and marketing information system, and dependent ones, which include financial and non-financial management performance. Those results partially support the hypothesis that the six success factors of marketing set in the study have effects on financial and non-financial management performance in the silver industry. Customer relational management had the biggest influence, being followed by brand asset and price strategy in the order. Those results indicate that companies need to consider customer relational management, brand asset, and price strategy before other success factors of marketing to achieve financial and non-financial management performance in the silver industry.

• Journal of the Korean housing association
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• v.19 no.3
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• pp.31-38
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• 2008

Recently, Seoul residential real estate market showed a big change, especially in 2007. The residential property price in Seoul had been mainly affected by 5 provideces: Kangnam-gu, Seocho-gu, Songpa-gu, Gangdong-gu and Yangchun-gu, but these providences started to show the decrease in price while the other providences ironically showed the opposite direction. Therefore, this project was derived from this phenomenon recognition and the necessity as the new market trend requires. The pre-research was carried out with the point of social-population academic view, but this project provides the analysis on the new market trend by simplifying the complex valuation indexes, originated from the pre-research. In result, the aspects of the change could be categorized into time-manner classification and territorial-manner classification, in cope with the change in the satisfaction degree on the residential environment and the selection tendency of the residential property. Based on the the moving-preferred area criteria, the territorial classification was categorized into 3 areas: 5 providences, which showed the initial decrease in real estate price (area 1), the other Kangnam area (area 2), and Kangbuk area (area 3). The result illustrated the reasonable change in the satisfaction degree on the residential environment and the selection tendency of the residential property. This project was able to reach the following conclusion : Firstly, the housing development planning should be devised by the residential environment, including the view and the natural environment, not by the area. Secondly, the housing development planning in the other Kangnam area (area 2) and Kangbuk area (area 3) should embrace the business function, not the housing development only. Last, the housing development planning in Kangbuk area (area 3) should be able to enhance education and culture function and be connected by various transportation system. This project analyzes the change in the satisfaction degree on the residential environment and the selection tendency of the residential property. Thereafter, this project has the purpose of providing the aid in understanding of the basis of housing development information.

• Environmental and Resource Economics Review
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• v.31 no.2
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• pp.261-290
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• 2022

Although market stabilization measures have been triggered in the K-ETS, carbon price is still under uncertainty. Considering Korea's 2030 enhanced reduction target announced in October 2021, it is crucial to have practical stabilization measures to appropriately deal with price uncertainty. This study examines the quantitative effects of a price collar, which is considered as a means of alleviating price uncertainty, on expected cumulative emissions and abatement costs. There are three main scenarios: carbon tax, emissions trading system, and emissions trading system with a price collar. Monte Carlo simulation was conducted to reflect uncertainty in emission. There are several results as follows: 1) In a price collar, domestic emission target is likely to be achieved with a lower expected abatement cost than other scenarios. In addition, there is a small amount of excess emissions in this research and it would be not critical(0.1% excess than target); 2) Prohibiting banking increases the expected abatement cost. This is because firms can not intertemporally reallocate allowances to match the firm's optimal emissions path; 3) With the adoption of a price collar, government's net revenue can be positive even if the government's purchase volume of emissions allowances is more than sales volume. This is because the government sells them at price ceiling and purchases them at price floor.

• Proceedings of the Korea Inteligent Information System Society Conference
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• 2000.11a
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• pp.489-497
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• 2000

After IMF situation, the money market environment is changing rapidly. Therefore, many companies including financial institutions and many individual investors are concerned about forecasting the money market, and they make an effort to insure the various profit and hedge methods using derivatives like option, futures and swap. In this research, we developed a prototype of forecasting system for KOSPI 200 option, especially call option, trading using artificial neural networks(ANN), To avoid the overfitting problem and the problem involved int the choice of ANN structure and parameters, we employed the ANN ensemble approach. We conducted two types of simulation. One is conducted with the hold signals taken into account, and the other is conducted without hold signals. Even though our models show low accuracy for the sample set extracted from the data collected in the early stage of IMF situation, they perform better in terms of profit and stability than the model that uses only the theoretical price.