• Journal of Cadastre & Land InformatiX
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• v.51 no.2
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• pp.125-139
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• 2021

Continuous subway line expansion over the years in Seoul metropolitan area has contributed to improved accessibility to public transport. Since public transport accessibility has a significant impact on housing decisions, quantitative analysis of correlation between housing prices and public transport accessibility is regarded as one of the most important factors for planning better housing policies. This study defines the reduction of traveling time resulted from the construction of new metro stations despite them not being the closest stations as 'Network Expansion Effect', and seeks to understand how the Network Expansion Effect impacts on housing prices. The study analyzes monthly rent data converted from upfront lump sum deposit, so called Jeonse in Korea, from 2012 to 2018, through 'A Modified Repeat Sales Model.' As a result, the effect of 'Network Expansion' on rental prices in Seoul has stronger during the period of 2017 to 2018 than the base period of 2012 to 2014, which suggests the 'Network Expansion' has a meaningful effect on rent. In addition, in comparison between the most and the least affected group of apartments by 'Network Expansion Effect', the most affected group has more price increase than the least affected group. These findings also indicate that different levels of 'Network Expansion Effect' have various influences on the value of residential real estate properties.

• Korean Journal of Construction Engineering and Management
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• v.22 no.3
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• pp.52-60
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• 2021

Due to the significant size of overseas construction projects, the cost overrun has enormous impacts on the financial status of construction companies. The managers' appropriate perception and identification of key risk factors in the construction phase notably affect the performance of projects. However, the actual impacts of risk factors and local manager' s perception of them could be deviated. For this reason, we aim to compare the performance of actual cases and general opinions of responsible practitioners in terms of risk factors relevant to cost overruns in order to present a practical strategy for risk management. Firstly, factors classified from literature review were used to simulate 290 cost overruns data sets from 20 cases by introducing Monte-Carlo Simulation and were ranked by standardized coefficients through multiple regression analysis. Secondly, a survey was conducted against 42 local managers to rank their perception of impact on cost overrun with identical factors by using Stepwise Weight Assessment Ratio Analysis (SWARA). Comparison results show that conflicts such as 'conflict with subcontractors' and 'conflict with the local community' have caused excessive cost overrun. However, managers' perception of these as less significant than the actual influences and consider other risks such as 'material price fluctuation' and 'construction quality errors', as relatively serious. Therefore, education for local managers on conflict risks needs to be presented.

• Journal of People, Plants, and Environment
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• v.23 no.6
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• pp.655-665
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• 2020

Background and objective: This study was conducted to compare the cultivation environment, growth of cut flowers, and management performance of conventional farms and smart farms growing the standard cut chrysanthemum, 'Jinba'. Methods: Conventional and smart farms were selected, and facility information, cultivation environment, cut flower growth, and management performance were investigated. Results: The conventional and smart farms were located in Muan, Jeollanam-do, and conventional farming involved cultivating with soil culture in a plastic greenhouse, while the smart farm was cultivating with hydroponics in a plastic greenhouse. The conventional farm did not have sensors for environmental measurement such as light intensity and temperature and pH and EC sensors for fertigation, and all systems, including roof window, side window, thermal screen, and shading curtain, were operated manually. On the other hand, the smart farm was equipped with sensors for measuring the environment and nutrient solution, and was automatically controlled. The day and night mean temperatures, relative humidity, and solar radiation in the facilities of the conventional and the smart farm were managed similarly. But in the floral differentiation stage, the floral differentiation was delayed, as the night temperature of conventional farm was managed as low as 17.7℃ which was lower than smart farm. Accordingly, the harvest of cut flowers by the conventional farm was delayed to 35 days later than that of the smart farm. Also, soil moisture and EC of the conventional farm were unnecessarily kept higher than those of the smart farm in the early growth stage, and then were maintained relatively low during the period after floral differentiation, when a lot of water and nutrients were required. Therefore, growth of cut flower, cut flower length, number of leaves, flower diameter, and weight were poorer in the conventional farm than in the smart farm. In terms of management performance, yield and sales price were 10% and 38% higher for the smart farm than for the conventional farm, respectively. Also, the net income was 2,298 thousand won more for the smart farm than for the conventional farm. Conclusion: It was suggested that the improved growth of cut flowers and high management performance of the smart farm were due to precise environment management for growth by the automatic control and sensor.

• Journal of the Korean Geotechnical Society
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• v.38 no.7
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• pp.25-37
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• 2022

In this paper, a small-scale model testing system was developed using a series of small-scale model tests to analyze the mechanism of compaction pile formation and evaluate the quality of controlled grading aggregates proposed as an alternative material to the sand compaction pile (SCP) method and granular compaction pile (GCP). These are the most typical ground improvement methods in field practice, particularly for soft grounds. However, the SCP has faced difficulties due to the supply shortage of natural sand and the corresponding price surge of sand. The GCP is limited in marine soft grounds because of the failure occurring at the pile tip caused by excessive expansion of the deeper bulbs, leading to uneven bulb formation. The uniformity of compacted pile bulbs is critical to ensuring the bearing capacity and quality of the compaction pile. This study aims to evaluate the performance of the new material and controlled grading aggregates using small-scale model tests simulating field compaction process to investigate its potential application in comparison with SCP. The compaction piles are examined in four cases according to different materials used for compaction pile and clay strength. The compaction pile materials, which are made of sand and controlled grading aggregates, used in this study were compared to reveal the mechanism of the bulb creation. The experimental data confirm that the bulb formation quality of the traditional sand and the new material, controlled grading aggregates are comparable. The compaction pile made of controlled grading aggregates presents higher bearing capacity than that of marine sand.

• The Journal of the Convergence on Culture Technology
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• v.8 no.5
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• pp.697-703
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• 2022

Due to the recent economic downturn caused by Covid-19 and the unstable international situation, many investors are choosing the derivatives market as a means of investment. However, the derivatives market has a greater risk than the stock market, and research on the market of market participants is insufficient. Recently, with the development of artificial intelligence, machine learning has been widely used in the derivatives market. In this paper, reinforcement learning, one of the machine learning techniques, is applied to analyze the scalping technique that trades futures in minutes. The data set consists of 21 attributes using the closing price, moving average line, and Bollinger band indicators of 1 minute and 3 minute data for 6 months by selecting 4 products among futures products traded at trading firm. In the experiment, DNN artificial neural network model and three reinforcement learning algorithms, namely, DQN (Deep Q-Network), A2C (Advantage Actor Critic), and A3C (Asynchronous A2C) were used, and they were trained and verified through learning data set and test data set. For scalping, the agent chooses one of the actions of buying and selling, and the ratio of the portfolio value according to the action result is rewarded. Experiment results show that the energy sector products such as Heating Oil and Crude Oil yield relatively high cumulative returns compared to the index sector products such as Mini Russell 2000 and Hang Seng Index.

• Journal of the Korean Regional Science Association
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• v.38 no.2
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• pp.3-20
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• 2022

The purpose of this study is to explore the heterogeneity of compensating wage differentials for outdoor workers, under the threat of climate change and heatwave, by region and by wage quantile. This study conducted Oaxaca-Blinder decomposition, multiple regression analysis by region, and unconditional quantile regression analysis using the Korean Working Conditions Survey, which provides individual-level information on the working environment and worker's characteristics. The implications derived from the results of the study are as follows: For most variables, the endowment effect and the price effect were greater for indoor workers, while experience and gender played a role in narrowing the wage gap; The compensating wage differentials for outdoor workers were confirmed to be 2.4% nationwide, depending on the region however, the compensating wage differentials varied from 5 times of national average to nothing statistically significant; The higher the wage quantile, the greater the compensating wage differentials for outdoor workers, and statistically significant monetary compensation was not identified for some low-level outdoor workers. This study is meaningful as an early study that revealed the heterogeneity of compensating wage differentials for outdoor workers and suggested further research on the topic.

• The Journal of the Korea institute of electronic communication sciences
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• v.18 no.1
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• pp.45-52
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• 2023

The power generation method using expensive diesel has operation problems such as high cost diesel generator and a lack of reserved power due to increase of power demand in some islands, requiring expansion of power generation facilities. To solve this problems, it is necessary to improve the efficiency of power generation facilities through an ORC(Organic Rankin Cycle) system application that uses waste heat as a heat source. Therefore, localized application technology of price competitive and highly reliable ORC power generation system is needed, and optimization technology of generators is having great effect, so this study performed two generator designs to get a high-efficiency generator with an optimized 30kW output. The comparison of simulation data for two designed models showed that a generator with SPM factor of 46.2% had an efficiency of 92.1% and a power ouput of about 23.2kW based on 12,000rpm, a generator with SPM factor of 44.46%, had a power output of 27.9kW and efficiency of 93.6% based on above rpm. For the verification of improved design model with SPM factor of 44.46%, the prototype test system with 110kW motor dynamometer was installed and got to the efficiency of 92.08% with conditions of the rated capacity 25kW at 12,000rpm, the test results of prototype generator showed the validity of generator design.

• Journal of Korea Entertainment Industry Association
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• v.13 no.5
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• pp.25-36
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• 2019

The purpose of this study was to investigate the effect of fast food intake, choice, and satisfaction on age among 311 people living in the metropolitan area. The frequency of fast food intake was high in the 20s and 30s, and those in the 40s and over 50s were low, showing a significant difference according to age. Costs for fast food purchases mainly ranged from 5,000 won to 7,000 won. Major sources of information on choosing fast food were mainly from friends and the internet in 20s, and mass media from over 30s. Thirty-nine percent of subjects responded that their dietary habits changed after fast food intake, and the most changes was to like spicy food, followed by eating-out times increased. The factors affecting the choice of fast food were mainly easy to eat, followed by time was not influenced and taste, and taste showed significant difference according to age. Among the subjects who were worried about fast food, 30s showed mainly increase in body weight and over 50s had health problem, and a significant difference was observed according to age. For the improvements in fast food intake, subjects answered in nutrition, hygiene and price in order. Fast food brands, services, menus were the most satisfied in 30s, and 40s were the most unsatisfied, and there was a significant difference. In conclusion, the frequency of fast food intake was higher in young people, and the choice of fast food and satisfaction appeared to be significantly influenced by age. Therefore, data are required to recognize and practice a balanced diet by activating studies on the fast food intake of middle-aged and elderly people and understanding consumer changes.

• Asia Marketing Journal
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• v.14 no.3
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• pp.27-48
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• 2012

Temperature and weather are all around us, quite literally. Furthermore, temperature and weather not only permeate our atmosphere, constantly affecting our visceral states of warmth and coldness, but they metaphorically permeate our language. People, products, and ideas can all be "hot" or "cold." Given this ubiquity, it is perhaps surprising that relatively little research has systematically examined the influence of temperature on choice and judgment. Temperature-related words such as "hot" and "cold" are often used to describe impulsive and calculated behaviors, respectively. These metaphoric connotations of thermal concepts raise the question as to whether temperature, psychological states and decision making are related to each other, and if so, how. The current research examines these questions and finds support for a relationship. Across one field study and one laboratory experiment, I demonstrate that both hot ambient room temperature (Spa) and hot temperature primes (words) trigger decision outcomes in line with the metaphoric association between hot temperature and impulsivity. In the field study, participants were recruited in hot (40-50 degrees Celsius) and cold (10 degrees Celsius) rooms at a spa. Participants were simply asked to indicate their willingness-to-pay (WTP) for three product categories (travel package, birthday dinner, and cell phone). The results showed that participants in the hot room in comparison to those in the cold room were willing to pay more for the same products. Next, I tested if our results would go beyond ambient temperature and would hold if I were to prime temperature concepts by using a different priming method (i.e., subliminal vs. supraliminal). In line with the previous findings in the spa, participants in the hot priming condition were more likely to choose the wrong answer for the bat and baseball question than those in the cold priming condition. In addition, product type (e.g., pleasure vs. necessity) can moderate the effect of hot temperature on impulsivity. Mood and arousal did not mediate participants' responses. My findings seem to suggest that the effects of temperature on decision outcomes can be attributed to metaphoric associations rather than incidental mood or arousal. The current research applies a novel perspective in understanding the relationship between temperature and judgment and decision making. Also, the results have practical implications for packaging, advertising, merchandising, and pricing of goods and services, as well as for public policy and awareness. One of the most natural implications of my findings would be that retailers would be better off carrying more impulse purchase items on hot days. Furthermore, point-of-purchase promotions encouraging impulse purchase is more likely to be effective in retail environments with higher temperature than with lower temperature. In addition, advertisements and product packages evoking hot temperature associations (e.g., beach, sunshine, summer) might lead consumers to pay higher price for the advertised product than those with cold temperature associations.

• Korea Trade Review
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• v.48 no.3
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• pp.69-88
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• 2023

This study analyzes the dynamic characteristics of cargo volume (demand), ship fleet (supply), and freight rate (price) of container, dry bulk, and tanker shipping markets by using the VAR and VECM models. This analysis is expected to enhance the statistical understanding of market dynamics, which is perceived by the actual experiences of market participants. The common statistical patterns, which are all shown in the three shipping markets, are as follows: 1) The Granger-causality test reveals that the past increase of fleet variable induces the present decrease of freight rate variable. 2) The impulse-response analysis shows that cargo shock increases the freight rate but fleet shock decreases the freight rate. 3) Among the three cargo, fleet, and freight rate shocks, the freight rate shock is overwhelmingly largest. 4) The comparison of adjR² reveals that the fleet variable is most explained by the endogenous variables, i.e., cargo, fleet, and freight rate in each of shipping markets. 5) The estimation of co-integrating vectors shows that the increase of cargo increases the freight rate but the increase of fleet decreases the freight rate. 6) The estimation of adjustment speed demonstrates that the past-period positive deviation from the long-run equilibrium freight rate induces the decrease of present freight rate.