• Asia pacific journal of information systems
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• v.24 no.2
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• pp.233-253
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• 2014

Can the stock market really be predicted? Stock market prediction has attracted much attention from many fields including business, economics, statistics, and mathematics. Early research on stock market prediction was based on random walk theory (RWT) and the efficient market hypothesis (EMH). According to the EMH, stock market are largely driven by new information rather than present and past prices. Since it is unpredictable, stock market will follow a random walk. Even though these theories, Schumaker [2010] asserted that people keep trying to predict the stock market by using artificial intelligence, statistical estimates, and mathematical models. Mathematical approaches include Percolation Methods, Log-Periodic Oscillations and Wavelet Transforms to model future prices. Examples of artificial intelligence approaches that deals with optimization and machine learning are Genetic Algorithms, Support Vector Machines (SVM) and Neural Networks. Statistical approaches typically predicts the future by using past stock market data. Recently, financial engineers have started to predict the stock prices movement pattern by using the SNS data. SNS is the place where peoples opinions and ideas are freely flow and affect others' beliefs on certain things. Through word-of-mouth in SNS, people share product usage experiences, subjective feelings, and commonly accompanying sentiment or mood with others. An increasing number of empirical analyses of sentiment and mood are based on textual collections of public user generated data on the web. The Opinion mining is one domain of the data mining fields extracting public opinions exposed in SNS by utilizing data mining. There have been many studies on the issues of opinion mining from Web sources such as product reviews, forum posts and blogs. In relation to this literatures, we are trying to understand the effects of SNS exposures of firms on stock prices in Korea. Similarly to Bollen et al. [2011], we empirically analyze the impact of SNS exposures on stock return rates. We use Social Metrics by Daum Soft, an SNS big data analysis company in Korea. Social Metrics provides trends and public opinions in Twitter and blogs by using natural language process and analysis tools. It collects the sentences circulated in the Twitter in real time, and breaks down these sentences into the word units and then extracts keywords. In this study, we classify firms' exposures in SNS into two groups: positive and negative. To test the correlation and causation relationship between SNS exposures and stock price returns, we first collect 252 firms' stock prices and KRX100 index in the Korea Stock Exchange (KRX) from May 25, 2012 to September 1, 2012. We also gather the public attitudes (positive, negative) about these firms from Social Metrics over the same period of time. We conduct regression analysis between stock prices and the number of SNS exposures. Having checked the correlation between the two variables, we perform Granger causality test to see the causation direction between the two variables. The research result is that the number of total SNS exposures is positively related with stock market returns. The number of positive mentions of has also positive relationship with stock market returns. Contrarily, the number of negative mentions has negative relationship with stock market returns, but this relationship is statistically not significant. This means that the impact of positive mentions is statistically bigger than the impact of negative mentions. We also investigate whether the impacts are moderated by industry type and firm's size. We find that the SNS exposures impacts are bigger for IT firms than for non-IT firms, and bigger for small sized firms than for large sized firms. The results of Granger causality test shows change of stock price return is caused by SNS exposures, while the causation of the other way round is not significant. Therefore the correlation relationship between SNS exposures and stock prices has uni-direction causality. The more a firm is exposed in SNS, the more is the stock price likely to increase, while stock price changes may not cause more SNS mentions.

• Journal of Intelligence and Information Systems
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• v.21 no.3
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• pp.117-129
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• 2015

As the Internet becomes ubiquitous, a large volume of information is posted on the Internet with exponential growth every day. Accordingly, it is not unusual that investors in stock markets gather and compile firm-specific or market-wide information through online searches. Importantly, it becomes easier for investors to acquire value-relevant information for their investment decision with the help of powerful search tools on the Internet. Our study examines whether or not the Internet helps investors assess a firm's value better by using firm-level data over long periods spanning from January 2004 to December 2013. To this end, we construct weekly-based search volume for information technology (IT) services firms on the Internet. We limit our focus to IT firms since they are often equipped with intangible assets and relatively less recognized to the public which makes them hard-to measure. To obtain the information on those firms, investors are more likely to consult the Internet and use the information to appreciate the firms more accurately and eventually improve their investment decisions. Prior studies have shown that changes in search volumes can reflect the various aspects of the complex human behaviors and forecast near-term values of economic indicators, including automobile sales, unemployment claims, and etc. Moreover, search volume of firm names or stock ticker symbols has been used as a direct proxy of individual investors' attention in financial markets since, different from indirect measures such as turnover and extreme returns, they can reveal and quantify the interest of investors in an objective way. Following this line of research, this study aims to gauge whether the information retrieved from the Internet is value relevant in assessing a firm. We also use search volume for analysis but, distinguished from prior studies, explore its impact on return comovements with market returns. Given that a firm's returns tend to comove with market returns excessively when investors are less informed about the firm, we empirically test the value of information by examining the association between Internet searches and the extent to which a firm's returns comove. Our results show that Internet searches are negatively associated with return comovements as expected. When sample is split by the size of firms, the impact of Internet searches on return comovements is shown to be greater for large firms than small ones. Interestingly, we find a greater impact of Internet searches on return comovements for years from 2009 to 2013 than earlier years possibly due to more aggressive and informative exploit of Internet searches in obtaining financial information. We also complement our analyses by examining the association between return volatility and Internet search volumes. If Internet searches capture investors' attention associated with a change in firm-specific fundamentals such as new product releases, stock splits and so on, a firm's return volatility is likely to increase while search results can provide value-relevant information to investors. Our results suggest that in general, an increase in the volume of Internet searches is not positively associated with return volatility. However, we find a positive association between Internet searches and return volatility when the sample is limited to larger firms. A stronger result from larger firms implies that investors still pay less attention to the information obtained from Internet searches for small firms while the information is value relevant in assessing stock values. However, we do find any systematic differences in the magnitude of Internet searches impact on return volatility by time periods. Taken together, our results shed new light on the value of information searched from the Internet in assessing stock values. Given the informational role of the Internet in stock markets, we believe the results would guide investors to exploit Internet search tools to be better informed, as a result improving their investment decisions.

• Journal of Environmental Impact Assessment
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• v.26 no.4
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• pp.272-289
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• 2017

This study analyzed the status of the naturalized plants in islands in Jeollanamdo from an island biogeographic perspective. As a result of a floristic analysis at 47 inhabited islands and 194 uninhabited islands, 30 families and 134 species naturalized plants are reported. The most commonly occurring naturalized plant from 141 islands was Rumex crispus. The average number of naturalized plants by islands is 20.6 species (${\pm}14.22$) at the inhabited islands and 3.7 species (${\pm}3.89$) at the uninhabited islands. Presence of fifty nine naturalized species at Geumodo in Yeosu-si is the largest in number. The naturalization ratio, which is the ratio of naturalized plants to native plants, is 7.66% (${\pm}3.96$) in the inhabitable islands and 4.97% (${\pm}3.70$) in the uninhabitable islands. The naturalization ratio among islands of the West Sea in Jeollanam-do is 5.92% (${\pm}4.49$), and it is higher than 4.96% (${\pm}2.15$) in islands in the South Sea. Especially, the naturalization ratio at the inhabitable islands, i.e., 8.39% (${\pm}4.37$) at the islands of the West Sea is higher than 5.80% (${\pm}1.41$) at islands in the South Sea. The naturalization ratio of naturalized plants at the islands shows positive correlation with the size of the island (r=0.412, p<0.01), but the correlations with distance from the mainland and altitude above sea level are not significant. Eight ecosystem disturbing species designated by law are reported, and each species shows distinct distributional ranges. The regional differences in the number of naturalized plant species seem to be a result of the complex reflection of natural and human environmental factors, such as the degree of traffic between mainland and islands, degree of cultivation activities, along with the physical environmental differences. Since islands have limited habitats and resources, islands could be more vulnerable to the incoming species from outside, and environmental changes than mainland. Therefore, continuous monitoring and management against the naturalized plants in islands are needed.

• Journal of the Korean Geographical Society
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• v.29 no.3
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• pp.233-252
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• 1994

One of major advantages of Lumped model is its ability to simulate extended flows. A further advantage is that it requires only conventional, readily available hydrological data (rainfall, evaporation and runoff). These two advantages commend the use of this type of model for the analysis of the hydrological effects of landuse change. Experimental Catchment(K11) of Kimakia site in Kenga experienced three phases of landuse change for sixteen and half years. The Institute of Hydrology offered the hydrological data from the catchment for this research. On basis of Blackie's(l972) 9-parameter model, a new model(R1131) was reorganized in consideration of the following aspects to reflect the hydrological characteristics of the catchment: 1) The evapotranspiration necessary for the landuse hydrology, 2) high permeable soils, 3) small catchment, 4) input option for initial soil moisture deficit, and 5) othel modules for water budget analysis. The new model is constructed as a 11-parameter, 3-storage, 1-input option model. Using a number of initial conditions, the model was optimized to the data of three landuse phases. The model efficiencies were 96.78%, 97.20%, 94.62% and the errors of total flow were -1.78%, -3.36%, -5.32%. The bias of the optimized models were tested by several techniques, The extended flows were simulated in the prediction mode using the optimized model and the data set of the whole series of experimental periods. They are used to analyse the change of daily high and low-flow caused by landuse change. The relative water use ratio of the clearing and seedling phase was 60.21%, but that of the next two phases were 81.23% and 83.78% respectively. The annual peak flows of second and third phase at a 1.5-year return period were decreased by 31.3% and 31.2% compared to that of the first phase. The annual peak flow at a 50-year return period in the second phase was an increase of only 4.8%, and that in the third phase was an increase of 12.9%. The annual minimum flow at a 1.5-year return period was decreased by 34.2% in the second phase, and 34.3% in the third phase. The changes in the annual minimum flows were decreased for the larger return periods; a 20.2% decrease in the second phase and 20.9% decrease in the third phase at a 50-year return period. From the results above, two aspects could be concluded. Firstly, the flow regime in Catchment K11 was changed due to the landuse conversion from the clearing and seedling phade to the intermediate stage of pine plantation. But, The flow regime was little affected after the pine trees reached a certain height. Secondly, the effects of the pine plantation on the daily high- and low-flow were reduced with the increase in flood size and the severity of drought.

• Proceedings of the KOR-KST Conference
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• 1995.02a
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• pp.3-32
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• 1995

The Highway Capacity Manual specifies procedures for evaluating intersection performance in terms of delay per vehicle. What is lacking in the current methodology is a comparable quantitative procedure for ass~ssing the safety-based level of service provided to motorists. The objective of the research described herein was to develop a computational procedure for evaluating the safety-based level of service of signalized intersections based on the relative hazard of alternative intersection designs and signal timing plans. Conflict opportunity models were developed for those crossing, diverging, and stopping maneuvers which are associated with left-turn and rear-end accidents. Safety¬based level-of-service criteria were then developed based on the distribution of conflict opportunities computed from the developed models. A case study evaluation of the level of service analysis methodology revealed that the developed safety-based criteria were not as sensitive to changes in prevailing traffic, roadway, and signal timing conditions as the traditional delay-based measure. However, the methodology did permit a quantitative assessment of the trade-off between delay reduction and safety improvement. The Highway Capacity Manual (HCM) specifies procedures for evaluating intersection performance in terms of a wide variety of prevailing conditions such as traffic composition, intersection geometry, traffic volumes, and signal timing (1). At the present time, however, performance is only measured in terms of delay per vehicle. This is a parameter which is widely accepted as a meaningful and useful indicator of the efficiency with which an intersection is serving traffic needs. What is lacking in the current methodology is a comparable quantitative procedure for assessing the safety-based level of service provided to motorists. For example, it is well¬known that the change from permissive to protected left-turn phasing can reduce left-turn accident frequency. However, the HCM only permits a quantitative assessment of the impact of this alternative phasing arrangement on vehicle delay. It is left to the engineer or planner to subjectively judge the level of safety benefits, and to evaluate the trade-off between the efficiency and safety consequences of the alternative phasing plans. Numerous examples of other geometric design and signal timing improvements could also be given. At present, the principal methods available to the practitioner for evaluating the relative safety at signalized intersections are: a) the application of engineering judgement, b) accident analyses, and c) traffic conflicts analysis. Reliance on engineering judgement has obvious limitations, especially when placed in the context of the elaborate HCM procedures for calculating delay. Accident analyses generally require some type of before-after comparison, either for the case study intersection or for a large set of similar intersections. In e.ither situation, there are problems associated with compensating for regression-to-the-mean phenomena (2), as well as obtaining an adequate sample size. Research has also pointed to potential bias caused by the way in which exposure to accidents is measured (3, 4). Because of the problems associated with traditional accident analyses, some have promoted the use of tqe traffic conflicts technique (5). However, this procedure also has shortcomings in that it.requires extensive field data collection and trained observers to identify the different types of conflicts occurring in the field. The objective of the research described herein was to develop a computational procedure for evaluating the safety-based level of service of signalized intersections that would be compatible and consistent with that presently found in the HCM for evaluating efficiency-based level of service as measured by delay per vehicle (6). The intent was not to develop a new set of accident prediction models, but to design a methodology to quantitatively predict the relative hazard of alternative intersection designs and signal timing plans.

• Journal of Physiology & Pathology in Korean Medicine
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• v.17 no.1
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• pp.1-24
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• 2003

This study was done to compile 104 experimental theses which are related to the antitumor and immuno-activating therapies between February 1990 through February 2002. Master's and doctoral theses were dassified by schools, degrees, materials, effects, experimental methods of antitumor and immunoactivity, and results. The following results were obtained from this study : 1. Classifying the theses by the school, 34.6% were presented by Daejeon University, 29.8% by Kyung-hee University and 11.5% by Won-kwang University. Of all theses, 51.0% were aimed for the doctoral degree and 43.3% were for the master's degree. All of three universities have their own cancer centers. 2. Classifying the theses by herb materials, complex prescription accounted for 60.3%, single herb accounted for 24.8% and herbal acupuncture accounted for 14.2%. Considering the key principles of the traditional medicine, complex prescription was much more thoroughly studied than single herb prescription. The results showed that the complex prescription had both antitumor activity and immuno-activating activity, which might reflects on multi-activation mechanisms by complex components. 3. Classifying the theses by the efficacy of herbs examined, in single herb, invigorating spleen and supplementing was 35.5%, expelling toxin and cooling was 29.0%, activating blood flow and removing blood stasis was 12.9%. In herbal acupuncture, invigorating spleen and supplementing was 52.9%, expelling toxin and cooling was 29.4%. In complex prescription, pathogen-free status was 41.9%, strengthening healthy qi to eliminate pathogen was 35.5%, strengthening healthy qi was 22.6%. It is presumed that the antitumor and immunoactivating therapy based on syndrome differentiation is the best way to develop oriental oncology. 4. Classifying the theses by antitumor experiments, cytotoxic effect was 48.1 %, survival time was 48.1 % and change of tumor size was 42.3%. Survival rate was not necessarily correlated with cytotoxicity. These data reflect the characteristic, wholistic nature of the oriental medicine which is based on BRM (biological response modifier). 5. Classifying the theses by immunoactivating experiments, hemolysin titer was 51.0%, hemagglutinin titer was 46.2% and NK cell's activity was 44.2%. In the future studies, an effort to elucidate specific molecular and cellular mechanisms of cytokine production in the body would be crucial. 6. Classifying the theses according to the data in terms of antitumor activity, 50% was evaluated good, 24.0% was excellent, and 15.5% have no effect. In an evaluation of immuno-activating activity, 35.9% was excellent and 18.0% showed a little effect. The index point, as described here, may helps to use experimental data for clinical trials. Changes in index points by varying dosage implicate the importance of oriental medical theory for prescription. 7. In 167 materials, IIP (immunoactivating index point, mean : 3.12±0.07) was significantly higher than AIP(antitumor index point, mean : 2.83±0.07). These data demonstrate that the effect of herb medicine on tumor activity depends more on immunoactivating activity than antitumor activity. This further implies that the development of herbal antitumor drugs must be preceded by the mechanistic understanding of immunoactivating effect. 8. After medline-searching tumor and herb-related articles from NCBI web site, we conclude that most of the studies are primarily focused on biomolecular mechanisms and/or pathways. Henceforth, we need to define the biomolecular mechanisms and/or pathways affected by herbs or complicated prescriptions. 9. Therefore, the most important point of oriental medical oncology is to conned between experimental results and clinical trials. For the public application of herbal therapy to cancer, it is critical to present the data to mass media. 10. To develop the relationship of experimental results and clinical trials, university's cancer clinic must have a long-range plan related to the university laboratories and, at the same time, a regular consortium for this relationship is imperative. 11. After all these efforts, a new type herbal medicine for cancer therapy which is to take care of the long-term administering and safety problem must be developed. Then, it would be expected that anti-tumor herbal acupuncture can improve clinical symptoms and quality of life (QOL) for cancer patients. 12. Finally, oriental medical cancer center must be constructed in NCC (National Cancer Center) or government agency for the development of oriental medical oncology which has international competitive power.

• Korean Journal of Veterinary Research
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• v.39 no.3
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• pp.653-664
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• 1999

This study was undertaken to determine the normal appearance of the postpartum uterine involution. Postpartum changes in uterine shape, architecture, echogenicity and diameter were monitored with ultrasonography in 11 Korea Jin-do dogs. Serial ultrasonographic examination was done daily during the first week, 3 days interval from 8 to 30 days, and weekly from 31 to 100 days postpartum, respectively. Of 11 postpartum bitches, 10 bitches (90.9%) had normal involution and 1 bitch (9.1%) had subinvolution of the placental sites (SIPS) by gross findings, vaginal discharges, and by ultrasographic findings, uterine shape and echogenicity. The excretory period of vaginal discharges in 10 normal bitches of uterine involution was finished completely at $20.2{\pm}4.6$ days (Mean${\pm}$SD) postpartum, but in 1 SIPS at 50 days postpartum. The short axis shape of the uterus was initially often flaccid-appearing. It varied from circular to crescent shaped to polygonal. This lasted until $16.5{\pm}3.7$ days postpartum, during which time the short axis uterine shape gradually changed to circular. Also, the long axis shape of the uterus was created a beaded appearance of the horns until $29.9{\pm}3.2$ days postpartum. After 30 days, it was appeared as tubular shape without distinguished between placental and interplacental sites. The ultrasonographic image of the postpartum uterus consisted of four echogenicity distinct layers. Uterine wall was represented the very hyperechoic serosa, hypoechoic myometrium, hyper echoic endometrium and anechoic structures of fluid in the uterine cavity until 7 days postpartum. The individual uterine layers were most prominent during the first week postpartum, and they became progressively less distinct throughout the course of uterine involution. Anechoic structures of fluid in the uterine cavity was detected until $25.0{\pm}6.4$ days postpartum, after which time it was not reliably detected. The uterine diameter was decreased not only in the placental sites frorm $24.1{\pm}2.5mm$ at 1 day to $15.4{\pm}1.4mm$ at 7 days postpartum, but also in the interplacental sites $14.9{\pm}1.5mm$ at 1 day, $10.6{\pm}0.8mm$ at 7 days postpartum. There was a general trend of decreasing uterine diameter, which occurred more rapidly at the placental sites. At 31 days pastpartum, these diameter reached almost same size, after that time, they could be not distinguished between placental and interplacental sites. At 87 days postpartum, the uterine diameter was $5.6{\pm}0.6mm$ both placental and interplacental sites, and the uterine horns were uniform hypoechoic, tubular structures without enlargement. Therefore, complete involution of the uterus occurred at that time. It was concluded that normal postpartum uterine involution in Korea Jin-do bitches appeared to be completed around 87 days postpartum by gross findings such as vaginal discharges, and by ultrasonographic findings, uterine shape and echogenicity. Also ultrasonographic characteristics of the postpartum uterine involution were described. Therefore, these result suggest that ultrasonographic assessment is a reliable method for diagnosing the SIPS and uterine dysfunction, such as pyometra in bitch.

• Radiation Oncology Journal
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• v.25 no.1
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• pp.26-33
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• 2007

[ $\underline{Purpose}$ ]: The aim of this study is to evaluate and compare the incidence and aspects of myocardial perfusion defects in patients who were subjected to either two-dimensional or three-dimensional simulation techniques for early left-sided breast cancer. The myocardial perfusion defects were determined from using single photon emitted computerized tomography (SPECT) myocardial perfusion images. $\underline{Materials\;and\;Methods}$: Between January 2002 and August 2003, 32 patients were enrolled in this study. The patients were diagnosed as having early (AJCC stage T1-T2N0M0) left-sided breast cancer and were treated with tangential irradiation after breast-conserving surgery and systemic chemotherapy. The patients were divided into two groups according to the type of simulation received: two-dimensional simulation using an X-ray fluoroscope simulator or three-dimensional simulation with a CT simulator. All patients underwent technetium-99m-sestamibi gated perfusion SPECT at least 3 years after radiotherapy. The incidence and area of myocardial perfusion defects were evaluated and were compared in the two groups, and at the same time left ventricular ejection fraction and cardiac wall motion were also analyzed. The cardiac volume included in the radiation fields was calculated and evaluated to check for a correlation between the amount of irradiated cardiac volume and aspects of myocardial perfusion defects. $\underline{Results}$: A myocardial perfusion defect was detected in 11 of 32 patients (34.4%). There were 7 (46.7%) perfusion defect cases in 15 patients who underwent the two-dimensional simulation technique and 4 (23.5%) patients with perfusion defects in the three-dimensional simulation group (p=0.0312). In 10 of 11 patients who had myocardial perfusion changes, the perfusion defects were observed in the cardiac apex. The left ventricular ejection fraction was within the normal range and cardiac wall motion was normal in all patients. The irradiated cardiac volume of patients in the three-dimensional simulation group was less than that of patients who received the two-dimensional simulation technique, but there was no statistical significance as compared to the incidence of perfusion defects. $\underline{Conclusion}$: Radiotherapy with a CT simulator (three-dimensional simulation technique) for early left-sided breast cancer may reduce the size of the irradiated cardiac volume and the incidence of myocardial perfusion defects. Further investigation and a longer follow-up duration are needed to analyze the relationship between myocardial perfusion defects and clinical ischemic heart disease.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.7 no.5
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• pp.982-991
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• 2006

The screen quota system is one of the most controversial issues in the Korean film industry. There are two different points of view regarding the system. Some say it is highly effective to protect and nurture Korean movies. However, others argue that it hurts the duality of the Korean movies. The number of days, for which Korean movies have to play on local screens, has been reduced to 73, starting on July 1st, 2006. Actually, it is 50 percent fewer than the previous year. In facL Korea has implemented the screen quota. system two times. First, it was practiced from 1935 to 1945, during the Japanese colonial period. This was to regulate imported movies, especially American ones, as the Japanese government was to use movies for the political propaganda. In 1935, the number of foreign movies screened had to be less than three fourths of the total. And they gradually reduced the size by two thirds in 1936, and again by half in 1937. After the attack on Pearl Harbor when the Pacific War happened, Japan completely banned importing American movies in Korea. The reason why it regulated the imported foreign films is to increase the number of domestic movies, both Japanese and Korean. It was for making propaganda films fur carrying the war. The second practice of the screen quota is from 1967 to the present year. It was designed to boom the Korean film industry. However, the competitive power of Korean films has not been improved in spite of the practice of the system. Moreover, the film industry has gone through the depression. Korean film agencies have occupied the Korean film market thanks to the protection by government. The founding of the film agencies has been strongly regulated. So has importing foreign movies. Under the special protection like this, Korean film agencies have been enjoying the monopoly In the mean time, they have pursued income not by making quality movies but by importing foreign movies. As a result, cinema audiences turn away form Korean films and prefer foreign movies. Furthermore, the screen quota system hurts the relationship between film producers and distributors, imposing the duties only on theaters. In short, the screen quota system has satisfied neither film producers, theater runners, nor film goers. In other words. the excessive protection has weakened the competitive power of Korean film industry.

• Journal of the Korean Applied Science and Technology
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• v.33 no.1
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• pp.1-12
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• 2016

This study is to make the liquid crystalline structure using sucrose distearate (Sucro-DS) emulsifier to create the hydrophilic type oil-in-water (O/W) emulsion, the droplets of the emulsion having a structure of a multi-lamellar structure. We have studied the physicochemical properties of Sucro-DS using those techniques. And it has been studied in the emulsion performance. In order to form the liquid crystalline structure applying 3 wt% of Sucro-DS, 5 wt% of glycerin, 5 wt% of squalane, 5 wt% of capric/caprylic triglyceride, 3wt% of cetostearyl alcohol, 1wt% of glyceryl mono-stearate, 78 wt% of pure water in mixture having the lamellar structure of stable multi-layer system was found to formed. By applying them, they were described how to create an unstable active material encapsulated cream. Further, the moisturizing cream was studied using this technique. It reported the results to the skin improvement effect by the human clinical trials. The pH range to produce a stable liquid crystal phase using a Sucro-DS was maintained in 5.2~7.5. In order to increase the stability of the liquid crystal, it was when behenyl alcohol containing 3 wt%, the hardness at this time was 13 kg/mm,min. Viscosity of the same amount was 25,000mPas/min. After a test for the effects of the emulsions, the concentration of 6 wt% Sucro-DS is that was appropriate, the particle size of the liquid crystal was 4~6mm. It was observed through a microscope analysis, reliability of the liquid crystal changes for 3 months was found to get stable at each $4^{\circ}C$, $25^{\circ}C$ and $45^{\circ}C$. In clinical trial test, before applying a moisturizing effect it was $13.4{\pm}7%$. Moisturizing cream liquid crystal was not formed in $14.5{\pm}5%$. Therefore, applying than ever before could see the moisture about 8.2% was improved. On the other hand, it was the moisturizing effect of the liquid cream is $19.2{\pm}7%$. The results showed that 43.3% improvement than that previously used. Applications fields, Sucro-DS emulsifier used liquid cream, lotion, eye cream and a variety of formulations can be developed, as well as the cosmetics industry is expected to be wide fields in the application of the external preparation for skin emulsion technology in the pharmaceutical industry and pharmaceutical industry.