• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.10
• /
• pp.147-158
• /
• 2021

Due to COVID-19, the risk of price volatility in commodity and equity markets increases. The research and application of hedging is the most effective way to reduce the market risk. Hedging is a risk management strategy employed to offset losses in investments by taking an opposite position in a related asset. We use K-means and hierarchical clustering methods to cluster companies and futures products respectively, and analyze the relationship between the number of hedging firms, regional distribution, nature of firms, capital distribution, company size, profitability, number of local Futures Commission Merchants (FCMs), regional location, and listing time. The study shows that listed companies with large scale and good profitability invest more money in hedging, while state-owned enterprises' participation in hedging is more likely to be affected by the company size and the number of local futures commission merchants, and private enterprises are more likely to be affected by the company profitability and the regional location. Listed companies are more willing to choose long-listed and mature futures products for hedging. We also provide policy advice based on our conclusion. So far, there is no study on the characteristics of hedging. This paper fills the gap. The results provide a basis and guidance for people's investment and risk management. Using clustering analysis in hedging study is another innovation of this paper.

• Journal of the Korea Institute of Military Science and Technology
• /
• v.22 no.2
• /
• pp.162-169
• /
• 2019

This paper describes a thermal image processing algorithm for uncooled type TEC-less IR detector which is applicable to fire control system of small arms. We implemented a real-time gain and offset compensation algorithm based on polynomial approximation from the raw dataset which is acquired by two reference temperature of blackbody from various FPA(Focal Plane Array) temperature. Through the experiment, we analyzed the output characteristics of detector's raw-data and compared IR image quality to traditional non-uniformity correction method. It shows that the proposed method works well in all FPA temperature range with low residual non-uniformity.

• KSII Transactions on Internet and Information Systems (TIIS)
• /
• v.13 no.1
• /
• pp.34-52
• /
• 2019

This paper proposes an intelligent system performing an application with assistance of an Internet of Things (IoT) platform to control a traffic lights system. In our proposed systems, the traffic lights can be remotely controlled through the Internet. Based on IoT platform, the traffic conditions at different intersections of roads are collected and the traffic lights are controlled in a central manner. For the software part, the algorithm is designed based on the green wave theory to maximize the green bandwidth of arterial roads while addressing a challenging issue: the rapid changes of parameters including cycle time, splits, offset, non-fixed vehicles' velocities and traffic flow along arterial roads. The issue typically happens at some areas where the transportation system is not well organized like in Vietnam. For the hardware part, PLC S7-1200 are placed at the intersections for two purposes: to control traffic lights and to collect the parameters and transmit to a host machine at the operation center. For the communication part, the TCP/IP protocol can be done using a Profinet port embedded in the PLC. Some graphical user interface captures are also presented to illustrate the operation of our proposed system.

• Journal of Korea Society of Digital Industry and Information Management
• /
• v.15 no.1
• /
• pp.67-76
• /
• 2019

Despite attractive advantages such as good time-frequency localization and improved spectral efficiency, filter bank multicarrier with offset quadrature amplitude modulation (FBMC/OQAM) suffers from multipath fading. In highly frequency-selective channels, the effect of multipath interference can significantly distort the FBMC/OQAM signal due to the absence of cyclic prefix. To resolve the problem of the multipath interference in FBMC/OQAM, this paper proposes applying an antenna array that provides well shaped beam pattern for each multipath. To evaluate the performance of the proposed array system, various computer simulations have been conducted. The accuracy of direction of arrival estimation is demonstrated through spatial spectrum for a different number of antennas in a sub-array. The performance improvement is presented in terms of bit error rate. We found that the proposed array system mitigate the multipath interferences in Extended Typical Urban model with 12 antennas in a sub-array. Moreover, as the number of antennas in a sub-array increases, the system provides a signal-to-noise ratio gain.

• Journal of the Korean Society for Aviation and Aeronautics
• /
• v.27 no.1
• /
• pp.57-68
• /
• 2019

The emission trading system implemented in Korea is a system in which the government allocates or sells emission rights by setting the emission allowable amount to economic players subject to the emission trading system, allowing companies to freely trade shortfall or extra money through the emission trading market. Korea also had implemented its first emission trading system scheme period of time from 2015 to 2017. As a result of the first planning period in which total of seven Korean airlines were targeted, the emission amount was about 5.51 million KAU, while the quota amount was only about 4.85 million KAU, about 116% of the actual quota was emitted and Domestic airlines have incurred additional costs of about 10.7 billion won. Due to ICAO's implementation of CORSIA, the airlines are expected to have to shoulder additional costs because purchasing exceed quota will be increased in order to offset excess emissions not only on domestic but also on international routes. Thus, this paper had analyzed the characteristics of the carbon trading system of air transport industry and suggested a mix of regulatory policies as an improvement method.

• Journal of the Korean institute of surface engineering
• /
• v.52 no.3
• /
• pp.171-179
• /
• 2019

We have developed a numerical model to analyze flow dynamics and heat transfer characteristics of the cooling water in a circular rotating magnetron cathode by a moving boundary grid method realized in a commercial multiphysics package, CFD-ACE+. The numerical model is composed of a target, dual mass rotating cathode and cooling water connections. When the inlet and outlet of the cooling water are offset by the same distance from the rotation axis, the temperature at the center is higher by $50^{\circ}C$ at maximum. At 5 mm away from the target surface, the temperature profile showed typical center high characteristic. At heat input of 30 kW, the maximum temperature change of the cooling water hits $6^{\circ}C$ within 0.5 sec under 60 rpm. With a cooling water configuration of center in/edge out, the temperature of the center region of the target gets lowered. Within 100 seconds of plasma operation time, the cooling water temperature keeps getting higher.

• Analyses & Alternatives
• /
• v.4 no.2
• /
• pp.71-102
• /
• 2020

This study analyzes the effect of demographic changes on economic growth. We use the supply-side output identity to forecast the growth potential of the Korean economy. According to the results, even based on optimistic assumptions and prospects, the economic growth rate is likely to fall drastically starting in 2020. Of course, to maintain growth potential, efforts to increase productivity are necessary. However, given the historical experience of developed countries, it is not clear whether the huge trend of demographic change can be offset by efforts to increase productivity. In the so-called '30-50 club' countries, both labor productivity and growth rate tend to fall after reaching the per capita income of $30,000. The degree of decline in the growth rate is closely related to changes in the working age population and the prime-age workforce. The results are similar when tracking the path of changes in total factor productivities of the economy. When a certain level of income is reached, the increase in total factor productivity also tends to slow down. The ripple effects of rapid changes in demographics will indeed be extensive. The negative impact is likely to be concentrated at a time when the working age population, the prime-age workforce, and the total population shrink simultaneously. Above all, it is necessary to use the government's fiscal space to block the possibility of a rapid fall in the growth rate. In addition, it is important to continuously implement various reform tasks that should be promoted, such as improving the education system and strengthening the social safety net.

• Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
• /
• v.40 no.4
• /
• pp.305-313
• /
• 2022

The evolution of the GNSS (Global Navigation Satellite System) technology has enhanced positioning performance in terms of positioning accuracy and time efficiency. The technology makes it possible to determine orthometric heights at a few centimeter accuracies by transforming accurate ellipsoid heights if an accurate geoid model has been employed. This study aims to generate a correction surface using GNSS/leveling co-points and a local geoid model, Thailand Geoid Model 2017 (TGM2017), through the Kriging interpolation method in a small local area. Combining the surface and TGM2017 significantly improves height transformation with the 1-cm RMSE (Root Mean Square Error) fit of 10 GNSS/leveling reference points and a mean offset of +0.1 cm. The evaluation of the correction surface at 5 GNSS/leveling checkpoints shows the RMSE of 1.0 cm, which is 82.6 percent of accuracy improvements. The GNSS leveling method can possibly be used to replace a conventional leveling technique at a few centimeter uncertainties in the case of small areas with clear-sky and high satellite visibility environments.

• International Journal of Korean Welding Society
• /
• v.1 no.2
• /
• pp.23-29
• /
• 2001

In this study, a preview-sensing visual sensor system is constructed far weld seam tracking in GMA welding. The visual sensor system consists of a CCD camera, a diode laser system with a cylindrical lens, and a band-pass-filter to overcome the degrading of image due to spatters and/or arc light. Among the image processing methods, Hough transform method is compared with the central difference method from a viewpoint of the capability for extracting the accurate feature position. As a result, it was revealed that Hough transform method can more accurately extract the feature positions and it can be applied to real time weld seam tracking. Image processing which includes Hough transform method is carried out to extract straight lines that express laser stripe. After extracting the lines, weld joint position and edge points are determined by intersecting the lines. Even though the image includes a spatter trace on it, it is possible to recognize the position of weld joint. Weld seam tracking was precisely implemented with adopting Hough transform method, and it is possible to track the weld seam in the case of offset angle is in the region of $\pm$ $15^{\circ}$.

• The Bulletin of The Korean Astronomical Society
• /
• v.46 no.2
• /
• pp.71.2-71.2
• /
• 2021

Using multi-epoch spectra of active galactic nuclei (AGN) obtained from the Sloan Digital Sky Survey, we identify 16 spectrally variable sources, for which the spectral shapes of broad emission lines significantly vary with a time scale of yrs. Out of them, 3 AGNs are already known as changing-look (CL) AGNs by previous studies. 6 AGNs are newly identified as CL AGNs from our study. A majority of these AGNs are relatively faint and their variability in the continuum is small, which may explain their non-detection in the previous studies. 7 sources are known as binary AGN candidates based on the systematic velocity offset between broad emission lines and narrow emission lines. For those sources and 3 CL AGNs, we find that the peak of broad emission lines had been shifted up to a few thousands km/s for ~10 years, implying that those can be promising candidates for pc-scale binary AGNs or recoiling black holes. We plan to conduct multiwavelength follow-up studies to nail down the physical origin of the velocity shift.