• The Korean Journal of Financial Management
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• v.22 no.2
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• pp.213-226
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• 2005

Adverse selection is a heavily scrutinized subject within the financial intermediary industry. Consensus is reached regarding its effect on the loan interest rate. Despite the similar features of financial service offered by the credit card, we still have controversy regarding credit card interest rate on how is adverse selection incurred with the change of interest rate. Thus, this paper explores how does the adverse selection, if ever, take place and affect the credit card interest rate. Information asymmetry regarding the credit card users' type represented by the default probability is assumed. The users are assumed to be rational in that they want to minimize the per unit dollar expense associated with the commercial transaction and financing between the two typical payment methods, cash and credit card. Suppliers, i.e. credit card companies, would like to maximize their profit and would be better off with more pervasive use of credit cards over the cash. Then we could show that the increasing credit card interest rate is subject to the adverse selection, sharing the same tenet with that of the bank loan interest rate proposed by Stiglitz and Weiss. Hence the current theory predicts that credit card market also suffers from adverse selection with increasing interest rate.

• The Korean Journal of Financial Management
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• v.26 no.4
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• pp.83-102
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• 2009

Banks traditionally focus on the financial services against the uncertain future liquidity needs, i.e. saving as well as lending. As the business model of banks has been shifted from the originate to hold model to the originate to distribute model since the enactment of Gramm-Leach-Bliley Financial Services Modernization Act in 1999, the financial services encompass information gathering and generating, underwriting and risk sharing through packaging claims for the investors, in addition to the payment and settlement services. Ensued are the financial market integration and diversification of financial services, with which the accessibility to financial services is arguably significantly enhanced. Such integration and diversification necessarily entails the risk of contagion due to the non-fulfilling service over the several other financial services, which would be contained easily under the separate financial services. This paper addresses the pricing of fees for the integrated financial services through which the contagion could spread when the users of financial service are not immune to the failure to fulfill their obligation due to the economic turmoil. Consequently the information asymmetry about the clients is unavoidable. Higher fees could drive out the otherwise good clients out of the pool of customers for the financial services. Then, the risk could be exacerbated due to the proliferation of bad clients who are vulnerable to the financial distress and liquidity crunch. So the banks should take into account the interactional effect of the fees between/among the non interest based activities and interest based activities under the information asymmetry. Contrary to our general perception, the current analysis demonstrates that the bank should focus on the reduction of cost associated with good clients rather than that of bad clients.

• Proceedings of the Korea Society of Environmental Toocicology Conference
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• 2003.10a
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• pp.91-93
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• 2003

It has been estimated that the equivalent of approximately $US 50 billion has been spent on research on the behavior and fate of pesticides in the environment since Rachel Carson published “Silent Spring” in 1962. Much of the resulting knowledge has been summarized explicitly in computer algorithms in a variety of empirical, deterministic, and probabilistic simulation models. These models describe and predict the transport, degradation and resultant concentrations of pesticides in various compartments of the environment during and after application. In many cases the known errors of model predictions are large. For this reason they are typically designed to be “conservative”, i.e., err on the side of over-prediction of concentrations in order to err on the side of safety. These predictions are then compared with toxicity data, from tests of the pesticide on a series of standard representative biota, including terrestrial and aquatic indicator species and higher animals (e.g., wildlife and humans). The models' predictions are good enough in some cases to provide screening of those compounds which are very unlikely to do harm, and to indicate those compounds which must be investigated further. If further investigation is indicated a more detailed (and therefore more complicated) model may be employed to give a better estimate, or field experiments may be required. A model may be used to explore “what if” questions leading to possible alternative pesticide usage patterns which give lower potential environmental concentrations and allowable exposures. We are currently at a maturing stage in this research where the knowledge base of pesticide behavior in the environmental is growing more slowly than in the past. However, innovative uses are being made of the explosion in available computer technology to use models to take ever more advantage of the knowledge we have. In this presentation, current developments in the state of the art as practiced in North America and Europe will be presented. Specifically, we will look at the efforts of the ‘Focus’ consortium in the European Union, and the ‘EMWG’ consortium in North America. These groups have been innovative in developing a process and mechanisms for discussion amongst academic, agriculture, industry and regulatory scientists, for consensus adoption of research advances into risk management methodology.

• Journal of Biosystems Engineering
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• v.39 no.3
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• pp.158-165
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• 2014

Purpose: The objective of this paper was to compare test standards regarding the performance and safety of agricultural tractors to identify the differences in test conditions, measurement tolerances, and test procedures. Based on the comparison, some recommendations were proposed for possible revisions or improvements to current tractor test standards. Methods: The test standards and codes of major standards development organizations (SDOs), such as the Organization for Economic Cooperation and Development (OECD), the International Organization for Standardization (ISO), the American Society of Agricultural and Biological Engineers (ASABE), EC type approval, and the board of actions of the Nebraska Tractor Test Laboratories (NTTL), were selected and analyzed. Comparison of the test standards: The ISO provides references for fuel and lubricants for tractor tests, and the OECD provides additional measurements for calculating fuel consumption characteristics during the power take-off (PTO) tests. The ISO, EC type approval, and the ASABE provide PTO protective device and the safety requirements. During drawbar power tests, seven transmission ratios are selected for fully automatic transmissions, according to the OECD. In case of hydraulic lift tests, ISO 789-2 and OECD Code 2 advise the use of a static lift force, while SAE J283 advises the use of additional dynamic lift capacity tests for a better representation of in-field operations. The OECD, the ISO, and EC type approval determine the seat index point (SIP), whereas the ASABE determines the seat reference point (SRP) for roll-over protective structure (ROPS) tests. Diversified measurement tolerances were among the braking performance test standards. The European Union (EU) has developed daily limits for vibration exposures with adaptations from ISO 2631-1. Electromagnetic compatibility evaluations are emerging of high-efficiency tractors due to the long-term conformance to electromagnetic emissions and interferences. Comparisons of tractor test standards discussed in this paper are expected to provide useful information for tractor manufacturers and standards development personnel to improve the performance and safety test standards of tractors.

• Korean Journal of Construction Engineering and Management
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• v.10 no.2
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• pp.14-25
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• 2009

Many companies have managed their business performance in order to achieve their enterprise purpose. Performance management which applied concept of BSC (Balanced Scorecard) is widely used all over the world. In the construction industry, BSC-based performance management is currently introduced with needs of balanced performance evaluation. However, most companies actually have intermediate level of adapting BSC. It is important to understand its process or and structure. Therefore, this paper is focused on making performance management process and defining each phase of it. In addition, the model and system are established with putting them together. With developing performance process in construction, the construction companies are supposed to detect the deficiencies of the current performance management systems and take some opportunity to be helped for supporting their decision-making. In conclusion, this paper will provide the construction industry with the opportunities to enhance the values of performance management system and construction application.

• JSTS:Journal of Semiconductor Technology and Science
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• v.5 no.3
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• pp.159-167
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• 2005

Quantization effects (QEs), which manifests when the device dimensions are comparable to the de Brogile wavelength, are becoming common physical phenomena in the present micro-/nanometer technology era. While most novel devices take advantage of QEs to achieve fast switching speed, miniature size and extremely small power consumption, the mainstream CMOS devices (with the exception of EEPROMs) are generally suffering in performance from these effects. In this paper, an analytical model accounting for the QEs and poly-depletion effects (PDEs) at the silicon (Si)/dielectric interface describing the capacitance-voltage (C-V) and current-voltage (I-V) characteristics of MOS devices with thin oxides is developed. It is also applicable to multi-layer gate-stack structures, since a general procedure is used for calculating the quantum inversion charge density. Using this inversion charge density, device characteristics are obtained. Also solutions for C-V can be quickly obtained without computational burden of solving over a physical grid. We conclude with comparison of the results obtained with our model and those obtained by self-consistent solution of the $Schr{\ddot{o}}dinger$ and Poisson equations and simulations reported previously in the literature. A good agreement was observed between them.

• The KIPS Transactions:PartA
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• v.11A no.6
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• pp.419-424
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• 2004

Mobile Internet using mobile devices provides Portability to users and is Spreading throughout out lives. But Practical use of the mobile Internet is insufficient due to it's fundamental limitations. Especially, mobile resources are not sufficient because they are not closely connected under current mobile Internet services which are provided with pre-designed structure. For these reasons it will take a lot more time and effort for mobile Internet to grow as a popular service. In this paper, we are focusing to overcome the local limitation and to enhance the 'Sharing of Mobile Resources' by expanding mutual connectivity between resource objects scattered over the mobile Internet environment. To archive this, we propose the MRSS(Mobile Resources Sharing System). MRSS automatically converts single request from user to multiple instructions based on 'Context-Awareness' to search for proper information. Using MRSS, we can expect 'Mobile Ubiquitous Computing' environment which users can reach to information anywhere, anytime.

• Journal of the Society of Naval Architects of Korea
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• v.44 no.4
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• pp.379-388
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• 2007

Ever increasing fuel prices and environmental concerns are forcing commercial vessel operators and designers to re-assess current vessel designs with an emphasis on their propulsion systems. The most important parameter determining propulsive efficiency is the diameter of propeller. Many investigations have been carried out to adapt a large and slow turning propeller known as one of the most robust and effective way of achieving high efficiency in ship propulsion system. However, for the same vessel a further increase of propeller diameter would require the modification of the aft end while still paying attention to the hull clearance to prevent excessive propeller excited vibrations. In order to take the advantage of this approach small workboats (e.g. tug boats, fishing vessels etc.) operate in service with a significant increase of aft draught and hence resulting "inclined keel" configuration can be observed. Although it is not unusual to see large vessels sometimes to operate with stern trim to improve their operational performance and fuel efficiency, it is rare to see a such vessel purposely built with an inclined keel feature to fit a large diameter propeller for power saving. This paper investigates the application of the inclined keel configuration to a 3600TEU container vessel with the aim of fitting an 11 % larger diameter propeller (and hence resulting 17.5 % lower rpm) to gain further power saving over the similar size basis container ship with conventional "level keel" configuration.

• Journal of the Korean Society for Library and Information Science
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• v.40 no.4
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• pp.85-110
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• 2006

Recently, there have been a number of news reports on natural disasters, like earthquakes. typhoons, floods and tsunami, all over the world. Korea does not seem to be safe from such disasters or terror threats. As places with high numbers of visitors. libraries need to take preventive measures to be prepared for such disasters and threats. This paper analyzes the current status of emergency measures adopted by 75 public libraries in Seoul. Daejeon and Jeonbuk in Korea. For each library surveyed. the causes of and ways to recover from disasters were reviewed and detailed analyses were carried out in low areas: Implementation of preventive measures disaster management and equipment, status of human resources and assignment of people to disaster recovery, safety courses offered to library users and training methods. In addition, each area was analyzed in regard to possible solutions and ideas for improvement, as well as suggestions to upgrade disaster recovery systems in the future.

• Journal of Korean Society of Transportation
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• v.21 no.3
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• pp.7-14
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• 2003

Statistics shows that 80% of freeway users travel less than 50km, and only 8% of them do over 100km. It means that the freeway is used for commuting. As a result, the freeway is not used efficiently and social cost is high. The current toll system aims for the efficient usage of the freeway by restraining short-distance trips and inducing long-distance ones. Thus, policies such as minimum toll system and discount for long-distance trips have been carried out. However. these two policies take no account of demand management between the freeway and alternative roads. They merely consider the compensation for charge on users, so the assessment of discount rate and distinction of distance are not reasonable. Consequently, not only the effective demand management but also the evaluation of those policies has been difficult to be achieved. The objective of this paper is to analyze those problematic policies and to establish a reasonable and improved toll system. In addition, this study presents the methodology to minimize social cost, which can be achieved by reducing short trips and encouraging long ones on the freeway. A new methodology of freeway toll system is applied and the results are presented.