• The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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• v.24 no.2
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• pp.267-281
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• 2019

Energetic mesoscale eddies in the East Sea (ES) associated with strong mesoscale variability impacting circulation and environments were statistically characterized by analyzing satellite altimeter data collected during 1993-2017 and in-situ data obtained from four cruises conducted between 2015 and 2017. A total of 1,008 mesoscale eddies were detected, tracked, and identified and then classified into 27 groups characterized by mean lifetime (L, day), amplitude (H, m), radius (R, km), intensity per unit area (EI, $cm^2/s^2/km^2$), ellipticity (e), eddy kinetic energy (EKE, TJ), available potential energy (APE, TJ), and direction of movement. The center, boundary, and amplitude of mesoscale eddies identified from satellite altimeter data were compared to those from the in-situ observational data for the four cases, yielding uncertainties in the center position of 2-10 km, boundary position of 10-20 km, and amplitude of 0.6-5.9 cm. The mean L, H, R, EI, e, EKE, and APE of the ES mesoscale eddies during the total period are $95{\pm}104$ days, $3.5{\pm}1.5cm$, $39{\pm}6km$, $0.023{\pm}0.017cm^2/s^2/km^2$, $0.72{\pm}0.07$, $23{\pm}21TJ$, and $588{\pm}250TJ$, respectively. The ES mesoscale eddies tend to move following the mean surface current rather than propagating westward. The southern groups (south of the subpolar front) have a longer L, larger H, R, and higher EKE, APE; and stronger EI than those of the northern groups and tend to move a longer distance following surface currents. There are exceptions to the average characteristics, such as the quasi-stationary groups (the Wonsan Warm, Wonsan Cold, Western Japan Basin Warm, and Northern Subpolar Frontal Cold Eddy groups) and short-lived groups with a relatively larger H, higher EKE, and APE and stronger EI (the Yamato Coastal Warm, Central Yamato Warm, and Eastern Japan Basin Coastal Warm eddy groups). Small eddies in the northern ES hardly resolved using the satellite altimetry data only, were not identified here and discussed with potential over-estimations of the mean L, H, R, EI, EKE, and APE. This study suggests that the ES mesoscale eddies 1) include newly identified groups such as the Hokkaido and the Yamato Rise Warm Eddies in addition to relatively well-known groups (e.g., the Ulleung Warm and the Dok Cold Eddies); 2) have a shorter L; smaller H, R, and lower EKE; and stronger EI and higher APE than those of the global ocean, and move following surface currents rather than propagating westward; and 3) show large spatial inhomogeneity among groups.

• Journal of Intelligence and Information Systems
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• v.27 no.3
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• pp.95-112
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• 2021

In university education, the choice of major class plays an important role in students' careers. However, in line with the changes in the industry, the fields of major subjects by department are diversifying and increasing in number in university education. As a result, students have difficulty to choose and take classes according to their career paths. In general, students choose classes based on experiences such as choices of peers or advice from seniors. This has the advantage of being able to take into account the general situation, but it does not reflect individual tendencies and considerations of existing courses, and has a problem that leads to information inequality that is shared only among specific students. In addition, as non-face-to-face classes have recently been conducted and exchanges between students have decreased, even experience-based decisions have not been made as well. Therefore, this study proposes a recommendation system model that can recommend college major classes suitable for individual characteristics based on data rather than experience. The recommendation system recommends information and content (music, movies, books, images, etc.) that a specific user may be interested in. It is already widely used in services where it is important to consider individual tendencies such as YouTube and Facebook, and you can experience it familiarly in providing personalized services in content services such as over-the-top media services (OTT). Classes are also a kind of content consumption in terms of selecting classes suitable for individuals from a set content list. However, unlike other content consumption, it is characterized by a large influence of selection results. For example, in the case of music and movies, it is usually consumed once and the time required to consume content is short. Therefore, the importance of each item is relatively low, and there is no deep concern in selecting. Major classes usually have a long consumption time because they have to be taken for one semester, and each item has a high importance and requires greater caution in choice because it affects many things such as career and graduation requirements depending on the composition of the selected classes. Depending on the unique characteristics of these major classes, the recommendation system in the education field supports decision-making that reflects individual characteristics that are meaningful and cannot be reflected in experience-based decision-making, even though it has a relatively small number of item ranges. This study aims to realize personalized education and enhance students' educational satisfaction by presenting a recommendation model for university major class. In the model study, class history data of undergraduate students at University from 2015 to 2017 were used, and students and their major names were used as metadata. The class history data is implicit feedback data that only indicates whether content is consumed, not reflecting preferences for classes. Therefore, when we derive embedding vectors that characterize students and classes, their expressive power is low. With these issues in mind, this study proposes a Net-NeuMF model that generates vectors of students, classes through network analysis and utilizes them as input values of the model. The model was based on the structure of NeuMF using one-hot vectors, a representative model using data with implicit feedback. The input vectors of the model are generated to represent the characteristic of students and classes through network analysis. To generate a vector representing a student, each student is set to a node and the edge is designed to connect with a weight if the two students take the same class. Similarly, to generate a vector representing the class, each class was set as a node, and the edge connected if any students had taken the classes in common. Thus, we utilize Node2Vec, a representation learning methodology that quantifies the characteristics of each node. For the evaluation of the model, we used four indicators that are mainly utilized by recommendation systems, and experiments were conducted on three different dimensions to analyze the impact of embedding dimensions on the model. The results show better performance on evaluation metrics regardless of dimension than when using one-hot vectors in existing NeuMF structures. Thus, this work contributes to a network of students (users) and classes (items) to increase expressiveness over existing one-hot embeddings, to match the characteristics of each structure that constitutes the model, and to show better performance on various kinds of evaluation metrics compared to existing methodologies.

• Journal of Intelligence and Information Systems
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• v.27 no.1
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• pp.191-207
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• 2021

Up to this day, mobile communications have evolved rapidly over the decades, mainly focusing on speed-up to meet the growing data demands of 2G to 5G. And with the start of the 5G era, efforts are being made to provide such various services to customers, as IoT, V2X, robots, artificial intelligence, augmented virtual reality, and smart cities, which are expected to change the environment of our lives and industries as a whole. In a bid to provide those services, on top of high speed data, reduced latency and reliability are critical for real-time services. Thus, 5G has paved the way for service delivery through maximum speed of 20Gbps, a delay of 1ms, and a connecting device of 106/㎢ In particular, in intelligent traffic control systems and services using various vehicle-based Vehicle to X (V2X), such as traffic control, in addition to high-speed data speed, reduction of delay and reliability for real-time services are very important. 5G communication uses high frequencies of 3.5Ghz and 28Ghz. These high-frequency waves can go with high-speed thanks to their straightness while their short wavelength and small diffraction angle limit their reach to distance and prevent them from penetrating walls, causing restrictions on their use indoors. Therefore, under existing networks it's difficult to overcome these constraints. The underlying centralized SDN also has a limited capability in offering delay-sensitive services because communication with many nodes creates overload in its processing. Basically, SDN, which means a structure that separates signals from the control plane from packets in the data plane, requires control of the delay-related tree structure available in the event of an emergency during autonomous driving. In these scenarios, the network architecture that handles in-vehicle information is a major variable of delay. Since SDNs in general centralized structures are difficult to meet the desired delay level, studies on the optimal size of SDNs for information processing should be conducted. Thus, SDNs need to be separated on a certain scale and construct a new type of network, which can efficiently respond to dynamically changing traffic and provide high-quality, flexible services. Moreover, the structure of these networks is closely related to ultra-low latency, high confidence, and hyper-connectivity and should be based on a new form of split SDN rather than an existing centralized SDN structure, even in the case of the worst condition. And in these SDN structural networks, where automobiles pass through small 5G cells very quickly, the information change cycle, round trip delay (RTD), and the data processing time of SDN are highly correlated with the delay. Of these, RDT is not a significant factor because it has sufficient speed and less than 1 ms of delay, but the information change cycle and data processing time of SDN are factors that greatly affect the delay. Especially, in an emergency of self-driving environment linked to an ITS(Intelligent Traffic System) that requires low latency and high reliability, information should be transmitted and processed very quickly. That is a case in point where delay plays a very sensitive role. In this paper, we study the SDN architecture in emergencies during autonomous driving and conduct analysis through simulation of the correlation with the cell layer in which the vehicle should request relevant information according to the information flow. For simulation: As the Data Rate of 5G is high enough, we can assume the information for neighbor vehicle support to the car without errors. Furthermore, we assumed 5G small cells within 50 ~ 250 m in cell radius, and the maximum speed of the vehicle was considered as a 30km ~ 200 km/hour in order to examine the network architecture to minimize the delay.

• KOREAN JOURNAL OF CROP SCIENCE
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• v.66 no.2
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• pp.155-170
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• 2021

Oats (Avena sativa L.) represent a good forage crop for cultivation in regions with short growing periods and/or cool weather, such as the mountainous areas of southern Korea. In this study, using the Korean elite summer oat varieties 'High speed' and 'Dark horse', we aimed to determine the optimal time to plant and harvest forage oats seeded in spring and summer in a mountainous area. Seeds were planted three times from late February and early August at 9- or 10-days intervals, respectively, and plants were harvested three times from late May to October at 10-day intervals. The experiment was carried out in an upland field (Jangsu-gun Jeonbuk) in 2015 and 2016. We investigated the changes in forage yield (FY) and quality [crude protein (CP) and total digestible nutrient (TDN) contents] based on the time of planting and harvest. Neither the forage quality nor yield of either spring and summer oats was significantly influenced by the time of planting. The CP of spring oats harvested three times at 10-day intervals from late May was 12.0%, 8.2%, and 6.5%, thereby indicating a reduction with a delay in the time of harvest. In summer oats, CP ranged from 8.4% to 8.7%, although unlike CP in spring oats, was not significantly influenced by the time of harvest. For both forage types, harvest time had no significant effect on TDN. The FY of spring oats harvested in late May and early and mid-June was 10.2, 18.7, and 19.5 ton ha^-1, respectively, with that of oats harvested on the latter two dates being significantly increased by 83% and 91%, respectively, compared with that in late May. Similarly, the FY of spring oats harvested in late October and early and mid-November was 7.1, 12.5, and 12.1 ton ha^-1, respectively, with that of oats harvested on the latter two dates being significantly increased by 75% and 71%, respectively, compared with that in late October. Taking into consideration forage yield and quality (not less than 8% CP), it would be profitable to plant spring oats in the mountainous areas of southern Korea until March 15 and harvest around June 10, whereas summer oats could be beneficially planted until August 25 and harvested from early November.

• MISULJARYO - National Museum of Korea Art Journal
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• v.100
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• pp.140-170
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• 2021

This paper investigates the Wooden Seated Tri-kaya Buddha Images(三身佛像) of Vairocana, Rushana, and Sakyamuni enshrined in Daeungjeon Hall of Hwaeomsa temple(華嚴寺) in Gurae, South Cheolla Province. They were produced in 1634 CE and placed in 1635 CE, about forty years after original images made in the Goryeo period were destroyed by the Japanese army during the war. The reconstruction of Hwaeomsa was conducted by Gakseong, one of the leading monks of Joseon Dynasty in the 17th century, who also conducted the reconstructions of many Buddhist temples after the war. In 2015, a prayer text (dated 1635) concerning the production of Hwaeomsa Tri-kaya Buddha images was found in the repository within Sakyamuni Buddha. It lists the names of participants, including royal family members (i.e., prince Yi Guang, the eighth son of King Seon-jo), and their relatives (i.e., Sin Ik-seong, son-in-law of King Seonjo), court ladies, monk-sculptors, and large numbers of monks and laymen Buddhists. A prayer text (dated 1634) listing the names of monk-sculptors written on the wooden panel inside the pedestal of Rushana Buddha was also found. A recent investigation into the repository within Rushana Buddha in 2020 CE has revealed a prayer text listing participants producing these images, similar to the former one from Sakyamuni Buddha, together with sacred relics of hoo-ryeong-tong copper bottle and a large quantity of Sutra books. These new materials opened a way to understand Hwaeomsa Trikaya images, including who made them and when they were made. The two above-mentioned prayer texts from the repository of Sakyamuni and Rushana Buddha statues, and the wooden panel inside the pedestal of Rushan Buddha tell us that eighteen monk-sculptors, including Eungwon, Cheongheon and Ingyun, who were well-known monk artisans of the 17th century, took part in the construction of these images. As a matter of fact, Cheongheon belonged to a different workshop from Eungwon and Ingyun, who were most likely teacher and disciple or senior and junior colleagues, which means that the production of Hwaeomsa Tri-kaya Buddha images was a collaboration between sculptors from two workshops. Eungwon and Ingyun seem to have belonged to the same community studying under the great Buddhist priest Seonsu, the teacher of Monk Gakseong who was in charge of the reconstruction of Haweonsa temple. Hwaeomsa Tri-kaya Buddha images show a big head, a squarish face with plump cheeks, narrow and drooping shoulders, and a short waist, which depict significant differences in body proportion to those of other Buddha statues of the first half of 17th century, which typically have wide shoulders and long waists. The body proportion shown in the Hwaeomsa images could be linked with images of late Goryeo and early Joseon period. Rushana Buddha, raising his two arms in a preaching hand gesture and wearing a crown and bracelets, shows unique iconography of the Bodhisattva form. This iconography of Rushana Buddha had appeared in a few Sutra paintings of Northern Song and Late Goryeo period of 13th and 14th century. BodhaSri-mudra of Vairocana Buddha, unlike the general type of BodhaSri-mudra that shows the right hand holding the left index finger, places his right hand upon the left hand in a fist. It is similar to that of Vairocana images of Northern and Southern Song, whose left hand is placed on the top of right hand in a fist. This type of mudra was most likely introduced during the Goryeo period. The dried lacquer Seated Vairocana image of Bulheosa Temple in Naju is datable to late Goryeo period, and exhibits similar forms of the mudra. Hwaeomsa Tri-kaya Buddha images also show new iconographic aspects, as well as traditional stylistic and iconographic features. The earth-touching (bhumisparsa) mudra of Sakymuni Buddha, putting his left thumb close to the middle finger, as if to make a preaching mudra, can be regarded as a new aspect that was influenced by the Sutra illustrations of the Ming dynasty, which were imported by the royal court of Joseon dynasty and most likely had an impact on Joseon Buddhist art from the 15th and 16th centuries. Stylistic and iconographical features of Hwaeomsa Tri-kaya Buddha images indicate that the traditional aspects of Goryeo period and new iconography of Joseon period are rendered together, side by side, in these sculptures. The coexistence of old and new aspects in one set of images could indicate that monk sculptors tried to find a new way to produce Hwaeomsa images based on the old traditional style of Goryeo period when the original Tri-kaya Buddha images were made, although some new iconography popular in Joseon period was also employed in the images. It is also probable that monk sculptors of Hwaeomsa Tri-kaya Buddha images intended to reconstruct these images following the original images of Goryeo period, which was recollected by surviving monks at Hwaeomsa, who had witnessed the original Tri-kaya Buddha images.

• Atmosphere
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• v.33 no.2
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• pp.275-295
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• 2023

In Korea, there are four institutions related to atmospheric science: the university's atmospheric science-related department, the Korea Meteorological Administration (KMA), the ROK Air Force Weather Group, and the Meteorological Industry Association. These four institutions have developed while maintaining a deep cooperative relationship with the Korea Meteorological Society (KMS) for the past 60 years. At the university, 6,986 bachelors, 1,595 masters, and 505 doctors, who are experts in meteorology and climate, have been accredited by 2022 at 7 universities related to atmospheric science. The KMA is carrying out national meteorological tasks to protect people's lives and property and foster the meteorological industry. The ROK Air Force Weather Group is in charge of military meteorological work, and is building an artificial intelligence and space weather support system through cooperation with universities, the KMA, and the KMS. Although the Meteorological Industry Association has a short history, its members, sales, and the number of employees are steadily increasing. The KMS greatly contributed to raising the national meteorological service to the level of advanced countries by supporting the development of universities, the KMA, the Air Force Meteorological Agency, and the Meteorological Industry Association.

• Journal of the Daesoon Academy of Sciences
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• v.27
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• pp.79-132
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• 2016

The view of life and death in Daesoonjinrihoe includes all the gods of Heaven and Earth, and the human heart is taken as the foundational key. Practitioners can realize their value according to how much they have cultivated themselves. This is regarded as the mythical use of a singularly focused mind (full dedication of one's heart). In other words, it focuses on the potentiality of humans who are able to enter a transcendental area of divinity through their self-cultivation. This view of life and death in Daesoonjinrihoe was established by the religious mission known as "Samgye Gongsa (the Reordering of Three Realms of Heaven, Earth, and Humanity)." Samgye Gongsa indicated a new opening of the Three Realms of Heaven, Earth, and Humanity. This new opening is a return to the original principle of Heavenly operation and also a new order for the universe. Heaven and Earth have their own underlying principle by which they operate. This act was directly initiated and manifested from Dao. Daesoonjinrihoe diagnoses that the underlying principle by which Heaven operates was damaged by human misconduct, and as a result, the human observance of that principle fell out of common usage. Therefore, Daesoonjinrihoe gives priority to the reestablishment of Dao as it existed originally and tries to bring about reconciliation between Heaven and Earth and Humanity. In short, it resolves the grievances accrued since time immemorial by correcting the order of Sindo (Divine Law). Furthermore, it shows that the Dao of Sangsaeng (mutual beneficence) was created by reordering the arrangement of Heaven and Earth so that human beings and divine beings could reach a state of perfection through self-realization. Humans not only communicate with Heaven and Earth, but also communicate with divine beings. Divine beings are transcendent living beings capable of communicating with humans through their heart-minds. In Daesoon thought, human beings are not swayed by the power of divine beings, but instead are able to control divine beings through the transcendent power of their heart-minds. Given this view, the aim of Daesoonjinrihoe lies in participating in the harmony of Heaven and Earth through the cultivation of the human heart. Also, it sees that the human heart-mind can be united with the universal Dao, and thus it is able to be united with the deities of Heaven and Earth. In order to actualize this, one does not rely on exterior rituals or magic but has to focus instead on cultivating the moral ethics of the heart-mind to reach perfection. In other words, one can reach a transcendent level in one's heart-mind through the cultivation of a singularly focused mind and be free from the contradiction of life and death and other such torments. Life and death is an inevitable process for humans. So they do not have to be happy for life and sad for death. They can rather be free from the fear of death by fulfilling the energetic zenith of the human heart-mind via training themselves to transcend their physical bodies. No aging and no death is not a pursuit of radical longevity or immortality for the physical body, but rather a pursuit of the essence of life and the realization of eternity on a spiritual level. Daesoonjinrihoe pursues the state of being unified with Dao by developing "Jeong·Gi·Sin (精·氣·神 the internal energies of essence, pneuma, and spirit)" and trying to reach the transcendent state of non-aging and radical longevity by spurring the practice of self-realization and the discovery one's own innate nature. Through the practice of human ethics, they can access the creative functions of Heaven and Earth and become one with Heavenly Dao thereby achieving harmony between temporal existence and eternity. In this way, humans transcend the life and death of their physical bodies. When "Doins (trainees of Dao)" reach the true state of unification with Dao through singularly focused cultivation, they not only realize self perfection as human beings, but also enable themselves the means to do away with all disasters and forms of suffering. They thereby attain ultimate happiness in their lives.

• The Korean Journal of Zoology
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• v.20 no.1
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• pp.29-40
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• 1977

The authors examined fresh-water gammarid materials which were collected from streams in 20 localities of South Korea during the period from 1965 to 1977. As the results of the observation, the authors have concluded as follows: 1. These fresh-water gammarids belong to Gammarus pulex-group and are distributed widely in mountain-streams of mainland and surrounding islands of South Korea. 2. The present specimens are different from the subspecies, G. pulex koreanus Ueno, 1940 which was described originally from North Korea. In the latter, the pulmose setae of third uropod are limited only to the outer margin of both rami. The peduncle and flagellum of second antenna are fringed with a few short setae and the flagellum is provided with calceoli. In the former, both margins of inner ramus and outer margin of outer ramus of third uropod are fringed with long pulmose setae. The peduncle and flagellum of second antenna have abundant relatively long setase and the flagellum is not provided with calceoli. 3. The present specimens are different from the subspecies, G. pulex sobaegensis Ueno, 1966 which was described originally from South Korea. The latter dwells in cave, while the former dwells in mountain-stream. In the former, the arrangements of pulmose setae of third uropod and the setation of second antenna are similar to those of the latter. But they are quite different from each other in several characters such as shape of upper lip, shape of fifth article of second gnathopod and numbers of incisions on front distal margins of coxal plates 1-3. The former has spines on surface of coxal plates 1-3, but the latter has not. In females, the former has four pairs of marsupial plates, while the latter has three pairs. 4. The present materials show local variations. Therefore, they could be divided into 3 local groups. The first group (specimens from Mt. Odae and Mt. Sogeumgang) has pulmose setae on the both margins of both rami of third uropod and second article of outer ramus is relatively long. In general, this group has setae sparsely on the both rami and especially a few setae on the outer margin of outer ramus. The second group, which are widely distributed in South Korea, has pulmose setae on the both margins of inner ramus and on the outer margin of outer ramus of third uropod. In the third group (specimens from Mt. Soyo), the pulmose setation of third uropod is similar to that of the first group, but the second article of outer ramus is very small.

• Asia Marketing Journal
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• v.14 no.2
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• pp.157-176
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• 2012

Brand switching data frequently used in market structure analysis is adequate to analyze non- durable goods, because it can capture competition between specific two brands. But brand switching data sometimes can not be used to analyze goods like automobiles having long term duration because one of main assumptions that consumer preference toward brand attributes is not changed against time can be violated. Therefore a new type of data which can precisely capture competition among durable goods is needed. Another problem of using brand switching data collected from actual purchase behavior is short of explanation why consumers consider different set of brands. Considering above problems, main purpose of this study is to analyze market structure for durable goods with consideration set. The author uses exploratory approach and latent class clustering to identify market structure based on heterogeneous consideration set among consumers. Then the relationship between some factors and consideration set formation is analyzed. Some benefits and two demographic variables - age and income - are selected as factors based on consumer behavior theory. The author analyzed USA automotive market with top 11 brands using exploratory approach and latent class clustering. 2,500 respondents are randomly selected from the total sample and used for analysis. Six models concerning market structure are established to test. Model 1 means non-structured market and model 6 means market structure composed of six sub-markets. It is exploratory approach because any hypothetical market structure is not defined. The result showed that model 1 is insufficient to fit data. It implies that USA automotive market is a structured market. Model 3 with three market structures is significant and identified as the optimal market structure in USA automotive market. Three sub markets are named as USA brands, Asian Brands, and European Brands. And it implies that country of origin effect may exist in USA automotive market. Comparison between modal classification by derived market structures and probabilistic classification by research model was conducted to test how model 3 can correctly classify respondents. The model classify 97% of respondents exactly. The result of this study is different from those of previous research. Previous research used confirmatory approach. Car type and price were chosen as criteria for market structuring and car type-price structure was revealed as the optimal structure for USA automotive market. But this research used exploratory approach without hypothetical market structures. It is not concluded yet which approach is superior. For confirmatory approach, hypothetical market structures should be established exhaustively, because the optimal market structure is selected among hypothetical structures. On the other hand, exploratory approach has a potential problem that validity for derived optimal market structure is somewhat difficult to verify. There also exist market boundary difference between this research and previous research. While previous research analyzed seven car brands, this research analyzed eleven car brands. Both researches seemed to represent entire car market, because cumulative market shares for analyzed brands exceeds 50%. But market boundary difference might affect the different results. Though both researches showed different results, it is obvious that country of origin effect among brands should be considered as important criteria to analyze USA automotive market structure. This research tried to explain heterogeneity of consideration sets among consumers using benefits and two demographic factors, sex and income. Benefit works as a key variable for consumer decision process, and also works as an important criterion in market segmentation. Three factors - trust/safety, image/fun to drive, and economy - are identified among nine benefit related measure. Then the relationship between market structures and independent variables is analyzed using multinomial regression. Independent variables are three benefit factors and two demographic factors. The result showed that all independent variables can be used to explain why there exist different market structures in USA automotive market. For example, a male consumer who perceives all benefits important and has lower income tends to consider domestic brands more than European brands. And the result also showed benefits, sex, and income have an effect to consideration set formation. Though it is generally perceived that a consumer who has higher income is likely to purchase a high priced car, it is notable that American consumers perceived benefits of domestic brands much positive regardless of income. Male consumers especially showed higher loyalty for domestic brands. Managerial implications of this research are as follow. Though implication may be confined to the USA automotive market, the effect of sex on automotive buying behavior should be analyzed. The automotive market is traditionally conceived as male consumers oriented market. But the proportion of female consumers has grown over the years in the automotive market. It is natural outcome that Volvo and Hyundai motors recently developed new cars which are targeted for women market. Secondly, the model used in this research can be applied easier than that of previous researches. Exploratory approach has many advantages except difficulty to apply for practice, because it tends to accompany with complicated model and to require various types of data. The data needed for the model in this research are a few items such as purchased brands, consideration set, some benefits, and some demographic factors and easy to collect from consumers.

• Asia Marketing Journal
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• v.12 no.2
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• pp.111-133
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• 2010

Marketing financial services used to be easier. Today, the competition in financial services is fierce. Not only has the competition become more intense, financial services have also changed structurally. In an environment with various customer needs and severe competitions, the marketing in financial services industry is getting more difficult and more important than before. However, there are still not enough studies on financial services marketing in Korea whereas lots of research papers have been published frequently in some international journals. The purpose of this paper is (1)to review the literature on financial services marketing, (2)to investigate current marketing activities based on in-depth interview with financial marketing managers in Korea, and (3)to suggest some implications for future research on the financial services marketing. Financial products are not consumer products. In fact, they are not products at all in the way product marketing is usually described. Nor are they altogether like services. The financial industry operates in a unique way, and its marketing tasks are correspondingly complex. However, the literature review shows that there has been a lack of basic studies which dealt with inherent characteristics of financial services marketing compared to the research on marketing in other industries. Many studies in domestic marketing journals have so far focused only on the general customer behaviors and the special issues in some financial industries. However, for more effective financial services marketing, we have to answer following questions. Is there any difference between financial service marketing and consumer packaged goods marketing? What are the differences between the financial services marketing and other services marketing such as education and health services? Are there different ways of marketing among banks, securities firms, insurance firms, and credit card companies? In other words, we need more detailed research as well as basic studies about the financial services marketing. For example, we need concrete definitions of financial services marketing, bank marketing, securities firm marketing, and etc. It is also required to compare the characteristics of each marketing within the financial services industry. The products sold in each market have different characteristics such as duration and degree of risk-taking. It means that there are sub-categories in financial services marketing. We have to consider them in the future research on the financial services marketing. It is also necessary to study customer decision making process in the financial markets. There have been little research on how customers search and process information, compare alternatives, make final decision, and repeat their choices. Because financial services have some unique characteristics, we need different understandings in the customer behaviors compared to the behaviors in other service markets. And also considering the rapid growth in financial markets and upcoming severe competition between domestic and global financial companies, it is time to start more systematic and detailed research on financial services marketing in Korea. In the second part of this paper, I analyzed the results of in-depth interview with 20 marketing managers of financial services companies in Korea. As a result, I found that the role of marketing departments in Korean financial companies are mainly focused on the short-term activities such as sales support, promotion, and CRM data analysis although the size and history of marketing departments to some extent show a sign of maturity. Most companies established official marketing departments before 2001. Average number of employees in a marketing department is about 58. However, marketing managers in eight companies(40% of the sample) still think that the purpose of marketing is only to support and manage general sales activities. It shows that some companies have sales-oriented concept rather than marketing-oriented concept. I also found three key words which marketing managers think importantly in financial services markets. They are (1)Trust in customer relationship, (2)Brand differentiation, and (3)Rapid response to customer needs. 50% of the sample support that "Trust" is the most important key word in the financial services marketing. It is interesting that 80% of banks and securities companies think that "Trust" is the most important thing, whereas managers in credit card companies consider "Rapid response to customer needs" as the most important key word in their market. In addition, there are different problems recognition of marketing managers depending on the types of financial industries they belong to. For example, in the case of banks and insurance companies, marketing managers consider "a lack of communication with other departments" as the most serious problem. On the other hand, in the case of securities firms, "a lack of utilization of customer data" is the most serious problem. These results imply that there are different important factors for the customer satisfaction depending on the types of financial industries, and managers have to consider them when marketing financial products in more effective ways. For example, It will be necessary for marketing managers to study different important factors which affect customer satisfaction, repeat purchase, degree of risk-taking, and possibility of cross-selling according to the types of financial industries. I also suggested six hypothetical propositions for the future research.