• Journal of the Korean Society for Industrial and Applied Mathematics
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• v.14 no.3
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• pp.175-187
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• 2010

This paper presents the numerical valuation of the two-asset step-down equitylinked securities (ELS) option by using the operator-splitting method (OSM). The ELS is one of the most popular financial options. The value of ELS option can be modeled by a modified Black-Scholes partial differential equation. However, regardless of whether there is a closedform solution, it is difficult and not efficient to evaluate the solution because such a solution would be represented by multiple integrations. Thus, a fast and accurate numerical algorithm is needed to value the price of the ELS option. This paper uses a finite difference method to discretize the governing equation and applies the OSM to solve the resulting discrete equations. The OSM is very robust and accurate in evaluating finite difference discretizations. We provide a detailed numerical algorithm and computational results showing the performance of the method for two underlying asset option pricing problems such as cash-or-nothing and stepdown ELS. Final option value of two-asset step-down ELS is obtained by a weighted average value using probability which is estimated by performing a MC simulation.

• Proceedings of the Korean Society for Technology of Plasticity Conference
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• 2003.10b
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• pp.94-106
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• 2003

In recent years, the production value of Taiwanese mold and die industries have reached to a high peak in 1998, in amount of NT 604 hundred million dollars. But in recent years production value are going down year by year, till year of 2001 the production value have down to NT 394 hundred million dollars. Its main reason might be the major product were following in medium and low price category, the high accuracy and high cost mold and die still rely on import aboard. Therefore how to made the related technical database system on various field to provide the industry user to promote industries competition ability in mold and die is really urgent matter at this moment. In this research, we will offer how to apply the Visual Basic program language to edit a set of more perfect database system of mold and die material selection. At the present time, we have constructed complete Knowledge-Base-System of intelligence for forging mold and die material, the most related data from the existed data, the others are through our additional experimental results. By using this system by the user can got the related and need data easily, we hope it will reduce designing time and cost for mold and die.

• Journal of Service Research and Studies
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• v.8 no.1
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• pp.103-122
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• 2018

The purpose of this study is to present the direction of ELS investment by analyzing the actual investment return of the ELS commodities and analyzing the investment effect of ELS that investors have felt unsatisfactory at financial marketing service. The research method is based on the step-down type ELS. We calculated the probability of achieving early redemption condition and maturity repayment condition, early redemption estimated yield, and maturity repayment estimated yield. As the study result, the probability of achieving 100% of the early redemption condition was 74.5%, and the probability of the early redemption condition 95% was 83.0%, 90% was 89.5%, 85% was 92.5%, and 80% was 96.5% respectively. In the case of the lowest 75%, the probability of holding to maturity is analyzed to be 2.5%, and the probability of early redemption is high. The probability of the stock price growth within 65% of the maturity repayment condition was 98.5% and the probability of the stock price growth within 60%~45% of the maturity repayment condition was 100%. 65% of maturity repayment condition was analyzed as 1.5% risk of principal loss, and the probability of achieving the committed yield of maturity was high. As a key measure of ELS investment, it is advantageous to select a commodity with a low rate of maturity repayment and a high rate of early redemption.

• Journal of Chest Surgery
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• v.25 no.4
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• pp.438-444
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• 1992

We analysed 7,180 annual cases of surgical treatment performed by Department of Thoracic and Cardiovascular Surgery of 6 major institutes in Seoul Korea, All cases were applied to 101 of 140 coded items applicable to the field of Thoracic and Cardiovascular Surgery, in the book of "Standard Price List for Medical Service" which was notified by the Ministry of Health and Social Affairs, and of them, applied field specific items were 70 of 93 applicables. The most frequently applied items were those associated to ECC[extracorporeal circulation] 1,510 cases, and then item of closed thoracostomy 751 cases was next. Except the items associated to ECC, the coded item of the highest "Total cost[fee x total applied numbers]" was mitral valve replacement 182,356,570 won[534,770 won x 341 cases]. 140 items were arranged in "Total cost" order, and then categorized into 5 groups. Medical insurance fees of each group were modified by different grades without changes in sum of total fees. Fees of Group 1, the highest group in "Total cost" were pulled up, on the other hand, Group 4, the lowest group, were pulled down, Group 5, composed of overlapping items with other fields, were not changed. The result of adjustment by grouping showed 21.2% increment effect[535,749,105 won] in real income. And we found that new coded items for modern high technological procedures should be added to "Standard Price List for Medical Service “Standard Price List for Medical Service".

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2014.10a
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• pp.933-936
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• 2014

The government has the duty to prevent abuses of monopoly and promote competition in order to maximize consumer welfare. In order to promote competition we have to address the asymmetry in the information as possible and to ensure consumer choice. The subsidy seems to reduce the burden on the consumer service charges and handset prices but it virtually distort the market through price discrimination. The government caused the principal-agent problem by avoiding their appropriate role to prevent distortion of the mobile telecom market. The money used as subsidy could be transferred to down the price of cell phone and charges and it would be a benefit to consumers. Separate notice of subsidies by Mobile Communications Terminal Distribution Structure Improvement Act is a developed policy but it was too late. It, the market price close to that from perfect competition structure, is plausible, ultimately.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.25 no.10
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• pp.1287-1295
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• 2021

During the past decade, it seems apparent that Bitcoin has been the best performing asset class. Even without a centralized authority that takes control over, Bitcoin, which started off with basically no value at all, reached around 65000 dollars in 2021, showing a movement that will definitely go down in history. Thus, even those who were skeptical of Bitcoin's intangible nature are stacking bitcoin as a huge part of their portfolios. Bitcoin's exponential growth in value also caught the attention of traditional banking and investment firms. Along with the spotlight Bitcoin is getting from the investment world, research using macro-economic variables and investor sentiment to explain Bitcoin's price movement has shown progress. However, previous studies do not make use of On-Chain Data, which are data processed using transaction data in Bitcoin's blockchain network. Therefore, in this paper, we will be utilizing LSTM, a method widely used for time-series data prediction, with On-Chain Data to predict the price of Bitcoin.

• Journal of the Architectural Institute of Korea Planning & Design
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• v.34 no.7
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• pp.3-12
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• 2018

The present remodeling makes almost no difference from rebuilding as all the building materials are removed remaining frame structure only. And, in case of vertical extension of building, higher construction cost and safety problem occur. The Ministry of Land, Transport and Maritime Affairs, therefore, recommends customized remodeling that can be made in light of the resident' needs such as parking lot, elevator, bathroom, and room for the alternative of remodeling of vertical extension of building. The purpose of this study is to present real data that can be referred to the constructor's decision making before starting the remodeling, by investigating and analyzing the weight and importance between evaluation factors for customized remodeling at the completed time of remodeling. Accordingly, the factors were divided into environmental factor, social factor, and economical factor, and the survey was performed for the residents living in remodeling houses. In addition, for the professionals, AHP (Analytic Hierarchy Process) has been carried out for the priority in the customized remodeling. For environmental factor, the level of importance made difference from that before remodeling, except parking level. For social factor, every item, including psychological satisfaction and community satisfaction, made difference. For economical factor, the recognition level of importance in rent made difference, except sale price of the factor for price satisfaction. In case of the factor for cost satisfaction, it was checked that construction cost and administration cost both could be considered important. As a result of AHP, the most importantly emphasized item was construction cost, and sale price, administration cost, residence structure, and parking lot were followed by priority in order. This study could contribute to reliably settle down customized remodeling by giving reasonable and substantial help from the analysis of the differences in the customized remodeling items before/after the remodeling.

• Journal of the Economic Geographical Society of Korea
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• v.25 no.1
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• pp.171-181
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• 2022

The real estate price index plays key roles as quantitative data in real estate market analysis. International organizations including OECD publish the real estate price indexes by country, and the Korea Real Estate Board announces metropolitan-level and municipal-level indexes. However, when the index is set on the smaller spatial unit level than metropolitan and municipal-level, problems occur: missing values. As the spatial scope is narrowed down, there are cases where there are few or no transactions depending on the unit period, which lead index calculation difficult or even impossible. This study suggests a supervised learning-based machine learning model to compensate for missing values that may occur due to no transaction in a specific range and period. The models proposed in our research verify the accuracy of predicting the existing values and missing values.

• Management & Information Systems Review
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• v.30 no.4
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• pp.147-173
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• 2011

It is generally accepted that there are momentum effects in the short term and reversal effects in the long term, which makes abnormal excess returns in the major stock markets in the world. In Korea stock market, however, the previous studies demonstrate that contrarian strategies based on reversal effects are more effective than momentum strategies following momentum effects in the short term as well as in the long term. This paper examines wether contrarian strategies are still effective In Korea stock market from 1980 to 2009, and the short term reversals may be changed after the foreign exchange crisis in 1997-1998. Moreover, this paper investigates how contrarian profits are shown considering the state of market. In my research, unlike previous studies, I find that both of contrarian strategies using price change and price level cannot gain excess risk adjusted returns in Korea stock market from 1980 to 2009, but this result is due to the fact that reversal effects existed before the foreign exchange crisis but momentum effects does after the foreign exchange crisis in 1997-1998. Specially, after the foreign exchange crisis, it is confirmed momentum strategies using 52 week high price, that is, price level are more effective than momentum strategies using price change. And following the strategies using 52 week high price after the foreign exchange crisis, the momentum is not only observed in the up market but also in the down market, which is different with the results of the studies regarding to American market, where the momentum is just found in the up market.

• Korean Journal of Agricultural Science
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• v.38 no.2
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• pp.369-381
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• 2011

Ginseng in Korea has not only the big production value but also till a good reputation from overseas in the name of 'Korea Ginseng'. Having spread rapidly nationwide from 2000 year, its production keeps on increasing but its consumption becomes lazy and its price is also falling down because of comsumer's concern about mainly overusing pesticide for ginseng. In order to cope with this problem, the government introduced the GAP certification system to ginseng in 2006 to reflect consumer's needs for food safety. This system will be a good opportunity to promote ginseng consumption dramatically. In this aspect it is very important to know how well this system is established and how ginseng farmers build marketing strategies to draw new wind in the market. This study was carried out to look over the GAP certified ginseng system and show its marketing strategies using 4P's(product, place, promotion and price). The main results are as follows. GAP ginseng system currently has some weaknesses such as lack of systematic certification management and after-service, nonrealistic certification fee and poor linkage from production to consumption. In the marketing mix strategies, product strategy suggests that the most desirable appearance be transplanted ginseng filled with branch roots and 4 to 5 year-ginseng, and it is necessary to choose multi-brand strategy divided for present into for self-sufficiency and family brand strategy by use if its brand enlarges to processed products in the future. In the place strategy, 3 stages like 'producer group' - 'GAP certified facility' - 'sales shop' are based as the physical marketing channel according to traceability, and connected with giant retail market and environment friendly stand, and if its sales volume enlarges, it should be considered the GAP ginseng specialized marketplace which is a type of chain store. In the promotion strategy, the promotion of government level is necessary at first and producer alliances require the promotion targeting at the group of women under 40 with differentiation from price, quality, and safety. In the price strategy, the early stage-high price strategy which sets 20~25% higher for self-sufficiency and 30~35% for present is desirable.