• Journal of the Korea Safety Management & Science
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• v.7 no.3
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• pp.97-108
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• 2005

The issue of using information system to ensure competitive power in the market is rising. The outsourcing methods that entrust activities of information system of companies to other expert agencies are increasing as the enterprises make a lot of efforts to put their resources to their heart of business in the process of adopting information system. Recently, ASP (Application Service Provider) as new information technology outsourcing method appears due to development of network technology and spreading of peculating software. ASP defines as a software leasing service which is supplied through networks instead of purchasing application software with high price. For successful implementation of ASP, it is necessary to develop a certification program to ensure safety and reliability of ASP. This paper provides the safe and reliable certification program for ASP. In order to develop it, the critical issues related to service quality and certification of ASP are identified and then evaluation methodology for ASP certification program is proposed. This paper presents application certification as the part of ASP certification program.

• The Korean Journal of Financial Management
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• v.20 no.1
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• pp.261-277
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• 2003

The Korean Stock Market Surveillance System is desinged to control the volatility of stocks by drawing investor's attention and suppressing disguised demand, when stocks run up so rapidly in short period of time. Yet the Surveillance System has not been under empirical examination about its role and evolved in line with the Price Limit System. This study looks at the security returns under surveillance designation for 1995 -2001 period. The results indicate that the volatility of stocks has not been affected after surveillance designation. The constraints against the disguised demand, however, seems to limit the security returns rather than volatilities. These findings raises a question about the role of The Korean Stock Market Surveillance System for the control of volatility. The Surveillance System needs to be examined thoroughly about its role, function, and its conditions. Otherwise, the shareholders with less information could be placed at a disadvantage. This paper suggests that the system should be amended in an effort to make the volatility of stocks under control.

• International Commerce and Information Review
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• v.11 no.1
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• pp.95-116
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• 2009

Korea-Us FTA negotiation started in February 2006 with a view to overcoming those uncertainties in the global market and was finally concluded in April, 2007. The Agreement was officially signed between ministers two month later and it is expected to be ratified this year even though the process is most likely to be painful in both countries by the political resistances. For the new President of the United States, effective leadership will depends largely on how to encourage domestic industries such as Automobile industry and Iron and Steel industry from the financial crisis. Many trading partners of US worry about US foreign trade policy changes to protectionism that might be unequal to bear. Korea textile industry is one of the major industry in Korea as it occupies 15% of total number of manufacturers, 11% of total employment and 5% of national GDP. Korea-US FTA will provide a breakthrough for bouncing back by exploring new market. US agreed to remove all tariff and non-tariff barriers to 87% of textile items under trading. This study shows that Korean textile industry has been losing it's competitiveness as textile quota system abolished in the year 2005 and has been traced by pursuers such as China, India and Vietnam. In case of woven fabric which was a representing export item of Korea lost price competitiveness against China after 2005. This study seeks the strategy of Korea textile industry in the US market by utilizing the capacity of KOTRA offices in US. All possible statistical data obtained in the US were used for analysing the competitiveness. Fabrics and Garments are analysed independently with a view to finding out real trends of textile market in US. This study also suggest Korea's textile industry strategic ideas obtained from the potential buyers to show the way to penetrate into US market.

• Journal of Hydrogen and New Energy
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• v.22 no.1
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• pp.118-127
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• 2011

An IGCC was evaluated as one of the next generation technologies that would be able to substitute for coal-fired power plants. According to "The 4th Basic Plan of Long-term Electricity Supply & Demand" which is developed by the Electricity Business Acts, the first IGCC will be operated at 2015. Like other new and renewable energy such as solar PV, Fuel cell, The IGCC is considered as non-competitive generation technology because it is not maturity technology. Before the commercial operation of an IGCC in our electricity market, its economic feasibility under the Korean electricity market, which is cost-based trading system, is studied to find out institutional support system. The results of feasibility summarized that under the current electricity trading system, if the IGCC is considered like a conventional plant such as nuclear or coal-fired power plants, it will not be expected that its investment will be recouped within life-time. The reason is that the availability of an IGCC will plummet since 2016 when several nuclear and coal-fired power plants will be constructed additionally. To ensure the reasonable return on investment (NPV>0 IRR>Discount rate), the availability of IGCC should be higher than 77%. To do so, the current electricity trading system is amended that the IGCC generator must be considered as renewable generators to set up Price Setting Schedule and it should be considered as pick load generators, not Genco's coal fired-generators, in the Settlement Payment.

• Journal of Korea Port Economic Association
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• v.27 no.3
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• pp.91-112
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• 2011

The rapid growth of e-commerce market and changes in distribution channels and consumption patterns have brought about the continuous growth of the domestic parcel service market. To cope with the growth and environmental changes of the parcel service market, parcel companies have made efforts to improve logistics process and construct an information system for customer satisfaction. Since they have focused on a high quality parcel service through a variety of information technology rather than price competition, the importance of logistics information technology has been greatly perceived. Accordingly, this study examined that how information technology and information system quality of parcel companies was perceived by customers and how it influenced parcel service use and satisfaction. To achieve this purpose, this study developed a valid and reliable measurement instrument for logistics information system quality and customer satisfaction based on literature reviews. Then empirical research was made through a questionnaire survey. As a result, six determinants of logistics information system quality were derived: economy, SMS information, tracking web-site information, stability, speed, and accuracy. All factors but economy were found to have positive effects on customer satisfaction in parcel service. Finally, the theoretical and practical implications of the findings were also discussed.

• Journal of the Korean Society for Railway
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• v.19 no.6
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• pp.785-791
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• 2016

This research suggests feasible means for domestic railway industries to actively enter overseas railway markets by thoroughly analyzed the business trends of the expanding international railway markets and their characteristics. The 983 independent cases of international railway orders introduced in domestic markets during the past five years were analysed. In order to enhance the efficiency and consistency of the series of analysis, one classification system was established, and proportions of each category were assessed after the analysis of each piece of business information in the classification. It can be concluded from the analysis that early entrance into new projects with system design similar to that used in Korea will enrich the chances for domestic industries to enter the expanding international railway market, because Korean business is likely face competition from other companies for low-price contracts if the entering timing to the market is too late.

• Journal of Intelligence and Information Systems
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• v.28 no.4
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• pp.157-177
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• 2022

Investors are trading stocks by keeping a close watch on the order information submitted by domestic and foreign investors in real time through Limit Order Book information, so-called price current provided by securities firms. Will order information released in the Limit Order Book be useful in stock price prediction? This study analyzes whether it is significant as a predictor of future stock price up or down when order imbalances appear as investors' buying and selling orders are concentrated to one side during intra-day trading time. Using classification algorithms, this study improved the prediction accuracy of the order imbalance information on the short-term price up and down trend, that is the closing price up and down of the day. Day trading strategies are proposed using the predicted price trends of the classification algorithms and the trading performances are analyzed through empirical analysis. The 5-minute KOSPI200 Index Futures data were analyzed for 4,564 days from January 19, 2004 to June 30, 2022. The results of the empirical analysis are as follows. First, order imbalance information has a significant impact on the current stock prices. Second, the order imbalance information observed in the early morning has a significant forecasting power on the price trends from the early morning to the market closing time. Third, the Support Vector Machines algorithm showed the highest prediction accuracy on the day's closing price trends using the order imbalance information at 54.1%. Fourth, the order imbalance information measured at an early time of day had higher prediction accuracy than the order imbalance information measured at a later time of day. Fifth, the trading performances of the day trading strategies using the prediction results of the classification algorithms on the price up and down trends were higher than that of the benchmark trading strategy. Sixth, except for the K-Nearest Neighbor algorithm, all investment performances using the classification algorithms showed average higher total profits than that of the benchmark strategy. Seventh, the trading performances using the predictive results of the Logical Regression, Random Forest, Support Vector Machines, and XGBoost algorithms showed higher results than the benchmark strategy in the Sharpe Ratio, which evaluates both profitability and risk. This study has an academic difference from existing studies in that it documented the economic value of the total buy & sell order volume information among the Limit Order Book information. The empirical results of this study are also valuable to the market participants from a trading perspective. In future studies, it is necessary to improve the performance of the trading strategy using more accurate price prediction results by expanding to deep learning models which are actively being studied for predicting stock prices recently.

• International Commerce and Information Review
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• v.7 no.2
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• pp.75-94
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• 2005

This study is focused on evaluating the computer-integrated just-in-time (CI-JIT) production system of a semi-conductor manufacturing firm in Korea. Approaching the mid-1980s, the emphasis was on low price, low-cost operations, and quality, especially in USA. American companies have shifted output to low-wage countries like the Philippines, Korea, Japan, Malaysia and allied countries that can make quality products at low prices. Korea and other Asian countries forego short-term profits to gain a solid foothold in a product market, recognizing that larger market share leads to lower cost and higher profit in the long run. They bring manufacturers and suppliers together to improve material management and operation management, using project teams that investigate topics, such as Just-In-Time(JIT)manufacturing, among others. The "Kanban" word means "card" in Japanese, and is used to indicate the desired final delivery schedule. The operation for a particular item produced is scheduled for a specific time. The same process is extended to the external suppliers. More recently, the cards are gradually being replaced by electronic procedures that follow the same concept. Its capacity must be capable of handling the various transactions required by the JIT coverage as well as some allowances for expanded applications.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.61
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• pp.165-190
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• 2014

The purpose of this study is to measure the trade insurance's macroeconomic effects by analyzing the causality between major economic variables(GDP per capita, market interest rate, inflation, unemployment rate, exchange rate) and trade insurance variable. I conducted empirical analyses using First-difference GMM(Generalized Method of Moments), System GMM and Panel-VAR Model, with panel data from 11 countries(Korea, United States, Japan, BRICs, Indonesia, Singapore, Hong Kong, Vietnam) between 1992 and 2011. There are several important findings. Above all, Trade insurance is positively and significantly related to GDP. This results show that trade insurance serves to increase economic growth. In other words, trade insurance leads to economic growth by helping increase GDP per capita. Especially, trade insurance negatively related to unemployment rate, it is for sure that trade insurance contribute to decrease unemployment rate. And trade insurance helps control of inflation. It is also confirmed that trade insurance contributes to price stability, which in turn serves to stabilize the overall economy. And this research finds as uncertainty in the market increases, seen it as increase of exchange rate, increasing trade insurance supply is stabilize the exchange rate.

• Journal of Venture Innovation
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• v.2 no.2
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• pp.127-140
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• 2019

A stock valuation on the tax law is based on the valuation by market price. But, unlike the listed stocks, the unlisted stocks mostly have the unclear market price. Accordingly, it is necessary to calculate the fair value which corresponds to the market price. The purpose of this paper is to examine the appropriateness of the complementary valuation method in the Inheritance Tax and Gift Tax Act and to provide suggestions for improvement. This study is intended to provide the problems and solutions relating to the valuation of unlisted stocks through analysis of foreign legal systems and actual disputes. When the actual profit/loss data are used to calculate the net profit/loss value on the present regulations, it has the different weight on the latest 3 years' net profits and losses uniformly. Therefore, to extend the range of unlisted stocks valuation and to show the independent and high professionalism of appraisal council not the subsidy appraisal agency of the National Tax Service, it is necessary to change the current rule that the commissioner of the National Tax Service unilaterally appoints the private members into the method of public offering.