• Korean Journal of Heritage: History & Science
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• v.54 no.1
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• pp.220-237
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• 2021

This study carried out the conservation treatment for the mattress put on the bed, which is one of 4 items in National Folklore Cultural Heritage, the Red-lacquered Furniture with the inlaid mother-of-pearl design used by Empress Sunjeonghyo (presumed), after identifying the characteristics of the manufacturing techniques and the used materials. And the study intends to compare it with the mattress placed in the Daejojeong in the Changdeokgung Palace in order to identify the characteristics of mattresses domestically used during the 1920s and 1930s. From the analysis of the mattress presumably used by Empress Sunjeonghyo, it was identified that the mattress frame was made of pinaceous hemlock spruce while the webbing and twine in the structural parts were made of jute. The findings are as follows: the burlap had a filling material that was made of jute; the straw mat was made from Oryza; and, the rest of the filling material was cotton. Rayon was used for the top cover while cotton was used for the bottom. As a result of research on the materials and the inner structure, it was found that mattress was manufactured in the form of the upholstery style mainly found in chairs and day-beds in Western furniture. Based on analysis results, materials identical to the original were adopted during the conservation treatment. Next, the process of dismantling, cleaning, repair, reinforcement and assembling was conducted. During the dismantling process, the top cover was newly discovered and some letters (Yokohama, Kobe, and Joseon) were found in the burlap filling, but there was no trace which can clarify its maker or production place. dry cleaning was carried out on the structural parts, filling materials, and the cover, and then the repair and reinforcement were done, preserving the existing materials in the upholstery structure and using the same materials for conservation. The webbing in the structural parts was reinforced using materials identical to the original, and the twine was used for arranging and fixing the springs into wooden frames. For the damaged cotton cloth and burlap, reinforcement materials identical to the original were put over it and sown. For the damaged area of the top cover, reinforcement cloth was cut and then added inside and the damaged area was sown. Assembling was carried out in the reverse order of the dismantling. After the burlap identical to the original material was inserted into the areas in contact with the springs and then fastened, a filling pad, reinforcement cloth, a straw mat, cotton cloth, cotton felt, wide cotton cloth for protecting the cover, and the cover were layered and fastened with tacks. The two mattresses used by Empress Sunjeonghyo differed only by the period of production and followed the same Western upholstery style consisting of the frames, filling materials, and covers. During the conservation treatment process, a velvet cover was newly discovered and the traces of repair in the past were found. Furthermore, identifying straw mats, straw bags, and straws for filling material, this study confirmed changes in the materials used according to the production environment. In the future, it is expected to see changes in the conservation materials during the conservation treatment and manufacturing techniques used for chairs and sofas in the upholstery style belonging to the modern cultural artifacts.

• Journal of Intelligence and Information Systems
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• v.25 no.2
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• pp.39-55
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• 2019

Recently banks and large financial institutions have introduced lots of Robo-Advisor products. Robo-Advisor is a Robot to produce the optimal asset allocation portfolio for investors by using the financial engineering algorithms without any human intervention. Since the first introduction in Wall Street in 2008, the market size has grown to 60 billion dollars and is expected to expand to 2,000 billion dollars by 2020. Since Robo-Advisor algorithms suggest asset allocation output to investors, mathematical or statistical asset allocation strategies are applied. Mean variance optimization model developed by Markowitz is the typical asset allocation model. The model is a simple but quite intuitive portfolio strategy. For example, assets are allocated in order to minimize the risk on the portfolio while maximizing the expected return on the portfolio using optimization techniques. Despite its theoretical background, both academics and practitioners find that the standard mean variance optimization portfolio is very sensitive to the expected returns calculated by past price data. Corner solutions are often found to be allocated only to a few assets. The Black-Litterman Optimization model overcomes these problems by choosing a neutral Capital Asset Pricing Model equilibrium point. Implied equilibrium returns of each asset are derived from equilibrium market portfolio through reverse optimization. The Black-Litterman model uses a Bayesian approach to combine the subjective views on the price forecast of one or more assets with implied equilibrium returns, resulting a new estimates of risk and expected returns. These new estimates can produce optimal portfolio by the well-known Markowitz mean-variance optimization algorithm. If the investor does not have any views on his asset classes, the Black-Litterman optimization model produce the same portfolio as the market portfolio. What if the subjective views are incorrect? A survey on reports of stocks performance recommended by securities analysts show very poor results. Therefore the incorrect views combined with implied equilibrium returns may produce very poor portfolio output to the Black-Litterman model users. This paper suggests an objective investor views model based on Support Vector Machines(SVM), which have showed good performance results in stock price forecasting. SVM is a discriminative classifier defined by a separating hyper plane. The linear, radial basis and polynomial kernel functions are used to learn the hyper planes. Input variables for the SVM are returns, standard deviations, Stochastics %K and price parity degree for each asset class. SVM output returns expected stock price movements and their probabilities, which are used as input variables in the intelligent views model. The stock price movements are categorized by three phases; down, neutral and up. The expected stock returns make P matrix and their probability results are used in Q matrix. Implied equilibrium returns vector is combined with the intelligent views matrix, resulting the Black-Litterman optimal portfolio. For comparisons, Markowitz mean-variance optimization model and risk parity model are used. The value weighted market portfolio and equal weighted market portfolio are used as benchmark indexes. We collect the 8 KOSPI 200 sector indexes from January 2008 to December 2018 including 132 monthly index values. Training period is from 2008 to 2015 and testing period is from 2016 to 2018. Our suggested intelligent view model combined with implied equilibrium returns produced the optimal Black-Litterman portfolio. The out of sample period portfolio showed better performance compared with the well-known Markowitz mean-variance optimization portfolio, risk parity portfolio and market portfolio. The total return from 3 year-period Black-Litterman portfolio records 6.4%, which is the highest value. The maximum draw down is -20.8%, which is also the lowest value. Sharpe Ratio shows the highest value, 0.17. It measures the return to risk ratio. Overall, our suggested view model shows the possibility of replacing subjective analysts's views with objective view model for practitioners to apply the Robo-Advisor asset allocation algorithms in the real trading fields.

• KOREAN JOURNAL OF CROP SCIENCE
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• v.18
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• pp.1-27
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• 1975

Experiment I: A field experiment was conducted in an attempt to find the effect of top-dressing at heading time in different levels of nitrogen application and of different positioned leaf blades formed by the treatment of leaf defoliation at heading time on the ripening and the yield of rice. The results obtained are as follows: 1. Average number of ears per hill and average number of grains per ear in different levels of nitrogen application were increased as the amount of nitrogen applied was increased. while the rate of ripened grains the yield of rough rice and the weight of 1, 000 kernels of brown rice were decreased respectively as the amount of nitrogen applied was increased. 2. The rate of ripened grains and the weight of 1.000 kernels of brown rice in different levels of nitrogen, top-dressing at heading time were larger than those in control and increased. The yield of rough rice although statistically significant differences were not recognized, were numerically increased. 3. The rate of ripened grains, the yield of rough rice, the weight of 1, 000 kernels of brown rice and the rate of hulling in different treatments of leaf defoliation were remarkably decreased as the degree of leaf-defoliation became larger. 4. The rate of ripened grains, the yield of rough rice, the weight of 1, 000 kernels of brown rice and the rate of hulling in different combinations of number of remained leaves positioned differently, formed the order of $L_1(flag leaf)>L_2>L_3>L_4$ when only one leaf blade was remained, and were increased as the positions of leaves were higher when two leaf blades. were, remained. 5. In case of decrease in the number of leaf blades positioned differently, by the treatment of leaf. defoliation, rate of ripened grains, the yield of rough rice, the weight of 1, 000 kernels of brown rice and the rate of hulling were increased as the area of remained leaves became larger and the nitrogen content of a leaf blade was increased. 6. There was a tendency that the increase in the amount of fertilizer application made the rate of ripened grains and the weight of 1, 000 kernels of brown rice reduced in any number of remained leaf blades, but the application of top-dressing at heading. time resulted in the reverse tendency. The yield of rough rice showed a tendency to be increased as the amount of basal dressing and top-dressing increased and for the application of top-dressing at heading time, the yield of rough rice was less at the smaller number of those. 7. The productivity effect of the rate of ripened grains and the yield of brown rice covered by leaf blades was more than 50 per cent and that of the. weight of 1, 000 kernels of brown rice was not more than 1.0 percent. As the amount of nitrogen application increased the. effect of leaf blades on the rate of ripened. grains and the weight of 1, 000 kernels of brown rice was increased. The effect of leaf blades on the weight of brown rice was increased as the amount of basal dressing-application, but the effect was decreased as the amount of top-dressing at heading time increased, 8. The productivity effects of different positioned leaf blades on the rate of ripened grains, the yield of rough rice and the weight of 1, 000 kernels of brown rice were in order of $L_1(flag leaf)>L_2>L_3>L_4$ the productivity effects of $L_1$ and $L_2$ had a tendency to be increased as the amount of nitrogen applied was increased. Experiment II: A field experiment was done in order to disclose the effect of the time of nitrogen application on yield component and the effect of different positioned leaves formed by leaf defoliation at heading time on the rate of ripened grains and the yield of rice. The results obtained are as follows: 1. Average number of ears per hill was increased in the treatment of nitrogen application from basal dressing to 22 days before heading and in the treatment of application distributed weekly. Number of grains was increased in the treatment of nitrogen application from 36 days to 15 days before heading. The rate of ripened grains was, lower in the treatment of nitrogen application from top-dressing to 15 days before heading than in that of non-application, was higher in the treatment of nitrogen application within 8 days before heading, and was the lowest in that of application 29 days before heading. The yield of rough rice was the highest in the treatment of nitrogen application from 29 days to 22 days before heading. The weight of 1, 000 kernels of brown rice was a little high in the treatment of application from 29 days to 8 days before heading. 2. The rate of ripened grains the yield of rough rice, the weight of 1, 000 kernels of brown rice and the rate of hulling in different treatments of leaf defoliation were remarkably decreased as the degree of leaf defoliation got larger and there were highly significant differences among treatments. There was also a recognized interaction between the time of nitrogen application and leaf defoliation. 3. In relation to the rate of ripened grains, the weight of 1. 000 kernels of brown rice and the rate of hulling in different numbers of remained leaves positioned differently and their combinations, the yield components were in order of $L_1(flag leaf)>L_2>L_3>L_4$ when only one leaf was remained, which indicated that the components were increased as the leaf position got higher. When two laves were remained, the rate of ripened grains, the yield of rough rice and rate of hulling were high in case of the combinations of upper positioned leaves, and the increase in the weight of 1, 000 kernels of brown rice appeared to be affected most]y by flag leaf. When three leaf blades were remained similarly the components were increased with the combination of upper positioned leaf blades. 4. In case of decreased different positioned leaf blades by treatment of leaf defoliation, there was a significant positive regression between the leaf area, the dry matter weight of leaf blades and the nitrogen contents of leaf blades, and rate of ripened grains and the yield of rough rice, but there was no constant tendency between the former components and the weight of 1. 000 kernels of brown rice. 5. The closer the time of fertilizer application to heading time, the more the rate of ripened grains and the weight of 1, 000 kernels was decreased by defoliation, and the less were the remained leaf blades, the more remarkable was the tendency. The rate of ripened grains and the weight of 1. 000 kernels was increased by the top-dressing after heading time as the number of remained leaf blades. When the number of remained leaf blades was small the yield of rough rice was increased as the time of fertilizer application was closer to heading time. 6. Discussing the productivity effects of different organs in different times of nitrogen application, the productivity effect of a leaf blade on the rate of ripened grains was higher as the time of nitrogen application got later, and in the treatment of non-fertilization the productivity effect of a leaf blade and that of culm were the same. In the productivity effect on the yield of brown rice, the effect of culm covered more than 50 percent independently on the time of nitrogen application, and the tendency was larger in the treatment of non-fertilizer. The productivity effect of culm on the weight of 1. 000 kernels of brown rice was more than 90 percent, and the productivity effect of a leaf blade was increased as the time of application got later. 7. The productivity effect of a leaf blade in different positions on the rate of ripened grains, the yield of rough rice and the weight of 1, 000 kernels of brown rice had a tendency to be increased as the time of application got later and as the position of leaf blades got higher. In the treatment of weekly application through the entire growing period, the rate of ripened grains and the yield of rough rice were affected by flag leaf and the second leaf at the same level, the but the weight of 1, 000 kernels of brown rice was affected by flag leaf with more than 60 percent of the yield of total leaves.

• Asia Marketing Journal
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• v.14 no.2
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• pp.177-207
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• 2012

Today's consumers perceive consumption as a representation of themselves. It is not simply an act that fulfills a consumer's physical and practical needs. Even in terms of life quality, consumers increasingly want to achieve an emotional and sensible experience through consumption. Consumers now make decisions based on their need to express their position in relation to other people, pursue emotional satisfaction, and try to improve the quality of life. Culture-art products that meet such internal and external demands of consumers have made significant improvements in both quantity and quality, because of the social interest and policy support. The recognition of personal and social values of culture and arts has brought about interest in and need for culture-art products. Businesses have agilely embraced such change and actively implemented various marketing strategies utilizing culture and arts. For example, businesses began to sponsor artists who produce culture-art products while building facilities for cultural and art performances or exhibitions. Businesses have also provided performances and exhibitions free-of-charge or at affordable prices. As a result, the supply in the market has started to exceed its demand as is often the case in many of other markets. However, such imbalance has occurred not because of over-supply but because of a lack of demand. Given these circumstances, the government and culture and art related organizations, which had mainly concentrated on the supply side, started to recognize the importance of creating personal and social values in culture and arts. As a result, the government and various organizations are now creating various strategies that include policy measures to achieve their new found goal. Unfortunately however, such efforts are not meeting the expectations. Focusing on above-mentioned circumstances and problems, this study aims to find measures to create demand for culture-art products in the internal conditions of those who consume culture-art products. In other words, given that the demand for culture-art products has not increased despite all external conditions to encourage consumption, this study aims to find the reasons in consumers' value judgment on culture-art products. Though there were recent studies on culture-art products that applied consumer behavior on marketing theories, most of them focused on peripheral aspects such as people's motivation for or satisfaction from watching culture-art events. Hence, there is a need to understand what kind of value consumers perceive from culture-art products and how such value cognition leads to consumption in a comprehensive manner. This study acts as follow-up to a separate study entitled "Qualitative Study about Value Cognition and Benefits of Consumer on Culture-Art Products". The current study aims to extend practical implications that enhance the effectiveness of marketing strategies among the producing and policy agencies in the industry. The purpose of this study is to investigate dimensions of value cognition, benefits and attributes of culture-art products, and identify the effects of consumer value cognition on benefits and attributes. The questionnaire was developed based on the conceptual structure of qualitative research and previous researches. It was composed of value cognition, benefits, attributes of culture-art products and demographic variables. This survey was conducted on-line and off-line among a total of 662 persons ranging from their teens to their 50's who were living in Seoul, Gyeonggi-do, various metropolitan cities, and small and medium-sized cities. The data collected was analyzed by factor analysis and path analysis using SPSS WIN 18.0 and AMOS 16.0. This empirical study found that the dimensions of value cognition of culture-art products were categorized into personal goods, aesthetic goods and public property. This shows that the consumers perceive culture-art products as products that are worthy enough to pay the costs not just for personal benefits but also for their social values. Also the formation of value cognition for culture-art products requires special conditions unlike that for physical consumer goods and services, which simply require marketing stimuli. The dimensions of benefits pursued by consuming culture-art products were found to be composed of four types - pursuit of aesthetic benefits, pursuit of actual benefits, pursuit of emotional benefits, and pursuit of conspicuous character. This result implies that people consume culture-art products not just to pursue pleasure from emotional and intelligent satisfaction as well as social relations, but also to seek the needs and benefits embodied at a social level. The dimensions of attributes of culture-art products had seven different factors, - environmental, price, evaluation, people, artwork, composition, and personal relations - which is plentiful. This is because the attributes of culture-art products are very complicated compared to other consumer goods or services. Since culture-art products include not just cultural or artistic works but also all physical, human, environmental, and systemic elements of the products in a comprehensive manner, consumers perceive everything they experience in the process of consuming culture-art products as part of the products. The dimensions of value cognition was found to affect attributes of the products, mostly using pursued benefits as a mediating factors. This result is consistent with the result of qualitative research, and proves that applying the means-end chain theory in the reverse direction is reasonable. The result can be interpreted that consumers' value cognitions for culture-art products turns into actual benefits leading to consumers' decisions. Furthermore, this result reveals that when consumers choose culture-art products, they take into account the attributes of culture-art products depending on the benefits they pursue. These results confirm that despite their conceptual and abstract attributes, culture-art products have values that contribute to actual benefits for individual consumers and society. Hence, value cognition generates benefits to be pursued and this in turn affects the consumers' choices of attributes on products. Based on the conceptual structure of consumers' value cognitions on culture-art products and its dimensions, it is possible to find detailed methods to provide opportunities for education and training to form and reinforce positive value cognition on culture-art products. And through those methods, it will be possible to develop attributes of culture-art products according to the dimensions of pursued benefits, and allow conceptual products become the subject to valuable consumption in real life. These results provide theoretical understanding of consumer behavior in culture marketing and useful information to culture-art producers, companies that use culture and art, and government agencies that use culture-art as a mean to improve the public perception of quality of life. As a follow up on this study, there should be experimental studies that can develop criteria visualizing the demands of consumers who purchase culture-art products and identify their detailed attributes. Studies that compare characteristics of different areas within the culture-art product category and in-depth studies on a specific area or genre will also be needed. In order to develop marketing strategies for culture-art products, studies on the formation and reinforcement of positive value cognition on culture-art products and education for the development of consumer demand as well as on the development and differentiation of attributes of culture-art products depending on types of consumer groups should also follow.

• KOREAN JOURNAL OF CROP SCIENCE
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• v.10
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• pp.1-43
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• 1971

Experiment I: The objective of this study was to know variation in some selected agronomic characters of sweet sorghum when planted in several growing seasons. The 17 different sweet sorghum varieties having various maturities, and plant, syrup and sugar types were used in this study which had been carried out for the period of two years from 1968 to 1969 at Industrial Crops Division of Crop Experiment Station in Suwon. These varieties were planted at an interval of 20 days from April 5 to August 25 both in 1968 and 1969. The experimental results could be summarized as follows: 1. As planting was made early, the number of days from sowing to germination was getting prolonged while germination took place early when planted at the later date of which air temperature was relatively higher. However, such a tendency was not observed beyond the planting on August 25. In general, a significant negative correlation was found between the number of days from sowing to germination and the average daily temperature but a positive correlation was found between the former and the total accumulated average temperature during the growth period. 2. The period from sowing to heading was generally shortened as planting was getting delayed. The average varietal difference in number of days from sowing to heading was as much as 30.2 days. All the varieties were grouped into early-, medium and late-maturing groups based upon a difference of 10 days in heading. The average number of days from sowing to heading was 78.5$\pm$4.5 days in the early-maturing varieties, 88.5$\pm$4.5 days in the medium varieties and 98.5$\pm$4.5 days in the late-maturing varieties, respectively. The early-maturing varieties had the shortest period to heading when planted from July 15 to August 5, the medium varieties did when planted before July 15 and the late-maturing varieties did when planted before June 5. 3. The relationship between the sowing date (x) and number of days from sowing to heading could be expressed in an equation of y=a+bx. A highly positive correlation was found between the coefficient of the equation(shortening rate in heading time) and the average number of days from sowing to heading. 4. The number of days from sowing to heading was shortened as the daily average temperature during the growth period was getting higher. Early-maturing varieties had the shortest period to heading at a temperature of 24.2$^{\circ}C$, medium varieties at 23.8$^{\circ}C$ and late-maturing varieties at 22.9$^{\circ}C$, respectively. In other words, the number of days from sowing to heading was shortened rapidly in case that the average temperature for 30 days before heading was 22$^{\circ}C$ to $25^{\circ}C$. It prolonged relatively when the temperature was lower than 21$^{\circ}C$. 5. There was a little difference in plant height among varieties. In case of early planting, no noticeable difference in the height was observed. The plant height shortened generally as planting season was delayed. Elongation of plant height was remarkably accelerated as planting was delayed. This tendency was more pronounced in case of early-maturing varieties rather than late-maturing varieties. As a result, the difference in plant height between the maximum and the minimum was greater in late-maturing varieties than in early-maturing varieties. 6. Diameter of the stalk was getting thicker as planted earlier in late-maturing varieties. On the other hand, medium or early-maturing varieties had he thickest diameter when they were planted on April 25. 7. In general, a higher stalk yield was obtained when planted from April 25 to May 15. However, the planting time for the maximum stalk yield varied from one variety to another depending upon maturity of variety. Ear]y-maturing varieties produced the maximum yield when planted about April 25, medium varieties from April 25 to May 15 and late-maturing varieties did when planted from April 5 to May 15 respectively. The yield decreased linearly when they were planted later than the above dates. 8. A varietal difference in Brix % was also observed. The Brix % decreased linearly when the varieties were planted later than May 15. Therefore, a highly negative relationship between planting date(x) and Brix %(y) was detected. 9. The Brix % during 40 to 45 days after leading was the highest at the 1st to the 3rd internodes from the top while it decreased gradually from the 4th internode. It increased again somewhat at the 2nd internode from the ground level. However, it showed a reverse relationship between the Brix % and position of internode before heading. 10. Sugar content in stalk decreased gradually as planting was getting delayed though one variety differed from another. It seemed that sweet sorghum which planted later than June had no value as a sugar crop at all. 11. The Brix % and sugar content in stalk increased from heading and reached the maximum 40 to 45 days after heading. The percentage of purity showed the same tendency as the mentioned characters. Accordingly, a highly positive correlation was observed between. percentage of purity and Brix % or sugar content in stalk. 12. The highest refinable sugar yield was obtained from the planting on April 25 in late-maturing varieties and from that on May 15 in early-maturing varieties. The yield rapidly decreased when planted later than those dates. Such a negative correlation between planting date(x) and refinable sugar yield(y) was highly significant at 1% level. 13. Negative correlations or linear regressions between delayed planting and the number of days from sowing to germination. accumulated temperature during germination period, number of days to heading, accumulated temperature to heading, plant height, stem diameter, stalk weight, Brix %. sugar content, refinable sugar yield or Purity % were obtained. On the other hand, highly positive correlations between the number of days from sowing to heading(x) and Brix %, sugar content, purity %, refinable sugar yield, plant height or stalk yield, between Brix %(x) and purity %, refinable sugar yield or stalk yield, between sugar content(x) and purity% or refinable sugar yield(y), between purity %(x) and refinable sugar yield and between daylength at heading(x) and Brix %. number of days from sowing to heading, sugar content, purity % or refinable sugar yield (y), were found, respectively. Experiment II: The 11 varieties were selected out of the varieties used in Experiment I from ecological and genetic viewpoints. Complete diallel cross were made among them and the heading date, stalk length, stalk yield, Brix %, syrup yield, combining ability and genetic behavior of F$_1$ plants and their parental varieties were investigated. The results could be summarized as follows: 1. In general, number of days to heading showed a partial dominance over earliness or late maturity or had a mid-value, though there were some specific combinations showing a complete dominance or transgressive segregation in maturity. Some combinations showed relatively high general or specific combining abilities in maturity. Therefore, a 50 to 50 segregation ratio in heading date could be estimated in this study and it might be positive to have a selection in early generation since heritability of the character was relatively high. 2. A vigorous hybrid vigor was observed in stalk length. A complete or partial dominant effect of long stalk was obtained. The general combining ability and specific combining ability of stalk length were generally high. Long and short stalks segregated in a ratio of 50:50 and its heritability was relatively low. 3. Except for several specific combinations, high stalk yield seemed to be partial dominant over the low yield. Some varieties demonstrated relatively high general as well as specific combining abilities. It was assumed that several recessive genes were involved in expression of this character. The interaction among regulating recessive genes was also obtained. Accordingly, the heritability of stalk yield seemed to be rather low. 4. The Brix % of hybrid plants located around mid-parental value though some of them showed much higher or lower percentage. It could be explained by the fact that such behavior might be due to partial dominance of Brix %. The varieties with, relatively higher Brix % were high both in general. and specific combining abilities. Therefore, it could be recommended to use the varieties having higher sugar content in order to develop higher-sugar varieties. 5. The syrup yield seemed to be transgressively segregated or completely dominant over low yield. Hybrid vigor of syrup yield was relatively high. No-consistent relationship between general combining ability and specific combining ability was observed. However, some cases demonstrated that the varieties with relatively higher general combining ability had relatively lower specific combining ability. It was assumed that the frequencies of dominant and recessive alleles were almost same.