• Journal of the Chungcheong Mathematical Society
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• v.27 no.2
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• pp.237-242
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• 2014

In this paper we provide a valuation method for multi-asset derivatives with single jump regime-switching volatilities. We suppse that volatilities of assets are affected by an n-dimensional independent Markov regime-switching process.

• Communications for Statistical Applications and Methods
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• v.21 no.6
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• pp.501-512
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• 2014

Stylized facts on asset return are fat-tail, asymmetry, volatility clustering and structure changes. This paper simultaneously captures these characteristics by introducing a multi-regime models: Finite mixture distribution and regime switching GARCH model. Analyzing the daily KOSPI return from $4^{th}$ January 2000 to $30^{th}$ June 2014, we find that a two-component mixture of t distribution is a good candidate to describe the shape of the KOSPI return from unconditional and conditional perspectives. Empirical results suggest that the equality assumption on the shape parameter of t distribution yields better discrimination of heterogeneity component in return data. We report the strong regime-dependent characteristics in volatility dynamics with high persistence and asymmetry by employing a regime switching GJR-GARCH model with t innovation model. Compared to two sub-samples, Pre-Crisis (January 2003 ~ December 2007) and Post-Crisis (January 2010 ~ June 2014), we find that the degree of persistence in the Pre-Crisis is higher than in the Post-Crisis along with a strong asymmetry in the low-volatility (high-volatility) regime during the Pre-Crisis (Post-Crisis).

• International Journal of Aeronautical and Space Sciences
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• v.18 no.4
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• pp.601-613
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• 2017

An adjoint-based error estimation and mesh adaptation study is conducted for two-dimensional viscous flows on unstructured hybrid meshes. The error in an integral output functional of interest is estimated by a dot product of the residual vector and adjoint variable vector. Regions for the mesh to be adapted are selected based on the amount of local error at each nodal point. Triangular cells in the adaptive regions are refined by regular refinement, and quadrangular cells near viscous walls are bisected accordingly. The present procedure is applied to single-element airfoils such as the RAE2822 at a transonic regime and a diamond-shaped airfoil at a supersonic regime. Then the 30P30N multi-element airfoil at a low subsonic regime with a high incidence angle (${\alpha}=21deg.$) is analyzed. The same level of prediction accuracy for lift and drag is achieved with much less mesh points than the uniform mesh refinement approach. The detailed procedure of the adjoint-based mesh refinement for the multi-element airfoil case show that the basic flow features around the airfoil should be resolved so that the adjoint method can accurately estimate an output error.

• Journal of Energy Engineering
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• v.15 no.1 s.45
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• pp.1-7
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• 2006

The multi-dimensional two-phase flow models were developed for analyze the multi-dimensional behaviors or nuclear systems. To verify the simple turbulence model, The single phase mixing problem in a rectangular slab was calculated and compared with the commercial CFD code results. That result shows a good agreement with the CFD result. And the RPI Air-water experiments were simulated to assess the two-phase turbulence model in the multi-dimensional component. The first calculated distribution or void-fraction is highly dispersed and diffusive. It was revealed that the main reason is undesirable stratification force in a horizontal stratified flow regimes. Therefore the horizontally stratified flow regime is deleted because the stratified flow regime is not expected in multi-dimensional flow. With the modification of the flow regime, the predicted flow patterns and void fraction profiles are in good agreement with the measured data.

• Tribology and Lubricants
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• v.30 no.1
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• pp.59-63
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• 2014

Laser Surface Texturing(LST) is a surface engineering process used to improve tribological characteristics of materials by creating patterned microstructures on the mechanical contact surface. In LST technology, a pulsated laser beam is used to create arranged dimples on a surface by a material ablation process, which can improve such as load capacity, wear resistances, lubrication lifetime, and reduce friction coefficients. In the present study, the effect of multi-scale LST on lubricant regime was investigated. A pulsed Nd:YAG laser was applied on the bearing steel(AISI 52100) to create arranged dimples. To optimize the surface texturing effect on friction, multi-scale texture dimples with some specific formula arrays were fabricated by combining circles, ellipses and the laser ablation process. The tribological testing of multi-scale textured surface was performed by a flat-on-flat unidirectional tribometer under lubrication and the results compared with that of the non-textured surface. Through an increase in sliding speed, the beneficial effect of multi-scale LST performance was achieved. The multi-scale textured surface had lower friction coefficient performances than the non-textured surface due to the hydrodynamic lubrication effect.

• Transactions of the Korean Society of Mechanical Engineers
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• v.19 no.7
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• pp.1731-1740
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• 1995

Experimental investigations have been made to study the double-diffusive nature of convection of an initially stratified salt-water solution due to heating from below in a rotating cylindrical cavity. The objective is to examine the flow phenomena and the heat transfer characteristics according to the changes in temperature gradient, concentration gradient and rotating velocity of cavity. Thermal and solutal boundary conditions at side wall are adiabatic and impermeable, respectively. The top and bottom plate are maintained each at constant temperature and concentration. The cavity is put into a state of solid body rotation. Like the stationary case, the types of initially-formed flow pattern are classified into three regimes depending on the effective Rayleigh number and Taylor number; stagnant flow regime, single mixed-layer flow regime and successively formed multi-mixed layer flow regime. At the same effective Rayleigh number, the number of initially-formed mixed layer and its growth rate decrease as the effect of rotation increases. The temperature and concentration profiles are both uniform in each layer due to convective mixing in the layered-flow regime, but look both liner in stagnant flow regime and single mixed-layer flow regime. At the interface between adjacent layers, the temperature changes smoothly but the concentration changes rapidly.

• Nuclear Engineering and Technology
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• v.55 no.2
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• pp.780-791
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• 2023

To study oscillation characteristic of steam and non-condensable gas direct contact condensation through multi-hole sparger at low mass flux, a series of experiments of pure steam and mixture gas condensation have been carried out under the conditions of steam mass flux of 20-120kg/m²s, water temperature of 20-95 ℃ and mass fraction of non-condensable gas of 0-5%. The regime map of pure steam condensation through multi-hole sparger is divided into steam chugging, separated bubble, aggregated bubble and escaping aggregated bubble. The bubbles behavior of synchronization in the same hole columns and desynchronized excitation between different hole columns can be found. The coalescence effect of mixture bubbles increases with water temperature and non-condensable gas content increasing. Pressure oscillation intensity of pure steam condensation first increases and then decreases with water temperature increasing, and increases with steam mass flux increasing. Pressure oscillation intensity of mixture gas condensation decreases with water temperature and non-condensable gas content increasing, which is significantly weaker than that of pure steam condensation. The oscillation dominant frequency decreases with the rise of water temperature and non-condensable gas content. The correlations for oscillation intensity and dominant frequency respectively are developed in pure steam and mixture gas condensation at low mass flux.

• Proceedings of the Korean Society of Soil and Groundwater Environment Conference
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• 2001.04a
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• pp.89-92
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• 2001

This study aims at investigating the relationship between dispersion coefficient ratio to molecular diffusion coefficient (D$_{l}$ /D$_{m}$) and Peclet number (Pe) for multi-solute system in non-Darcian flow regime. Existing understanding on solute dispersion is primarily derived from one-solute system in Darcian flow regime. We found that solute dispersion in rock fractures can be characterized by the mechanism of both macrodispersion and Taylor dispersion, even for non-Darcian f]ow domain. For the Darcian flow regime even different solutes lead to the same D$_{l}$ /D$_{m}$ at same Pe. However, as the flow becomes non-Darcian, solute with a higher molecular diffusion coefficient result in higher D$_{l}$ /D$_{m}$ at tile same Pe than that with a lower diffusion coefficient.cient.

• Korean Journal of Social Welfare
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• v.62 no.2
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• pp.329-348
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• 2010

Following the welfare state typology well known, the typology in terms of individual system in welfare state has been widely examined and, pension which is the biggest and most important in welfare state has been classified into Beveridge and Bismarckian types based on their pension system design. Such typology focused on benefit type or size of private pension has been recently refined to add a new type - 'Bismarckian Lite' type - in addition to traditional Beveridge and Bismarckian types. Whereas the pension reforms in the developed countries has been changes within their pension regimes, the Korean pension reform in 2007 seems to have changed the existing social insurance type into the 'Bismarckian Lite' type. However, considering the immaturity of Korean pension regime, it is difficult to conclude the existing status of the Korean pension regime and, the Korean one can be classified into a multi-pillar one. Over the last decades the developed countries have increased the size of private pension regardless of their original pension regimes, which tends to converge into multi-pillar schemes. Accordingly, there is recently a new typology focused on the degree of regulation in terms of private pensions, which seems to be the better perspective. It will be more important how to regulate the (immature) occupational pension as well as the National Pension in Korea. Considering that old age income security in countries where the public regulation regarding private pension was absent has been deteriorated, it would be necessary to strengthen the role of government to effectively regulate private pension.

• (The) Research of the performance art and culture
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• no.41
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• pp.5-38
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• 2020

The current state of performance halls in South Korea is closely related to the performance art and culture of the nation as the culture of putting on and enjoying a performance is deeply rooted in public culture and arts halls representing each area at the local government level. Today, public culture and arts halls have multiple management purposes, and the subjects of their management are in the public domain including the central and local governments or investment and donation foundations in overwhelming cases. Public culture and arts halls thus have close correlations with the institutional aspect of cultural policies as the objects of culture and art policies at the central and local government level. The full-blown era of public culture and arts halls opened up in the 1980s~1990s, during which multi-purpose performance halls of a similar structure became universal around the nation. Public culture and arts halls of the uniform shape were distributed around the nation with no premise of genre characteristics or local environments for arts, and this was attributed to the cultural policies of the military regime. The Park Chung-hee regime proclaimed Yusin that was beyond the Constitution and enacted the Culture and Arts Promotion Act(September, 1972), which was the first culture and arts act in the nation. Based on the act, a five-year plan for the promotion of culture and arts(1973) was made and led to the construction of cultural facilities. "Public culture and arts" halls or "culture" halls were built to serve multiple purposes around the nation because the Culture and Arts Promotion Act, which is called the starting point of the nation's legal system for culture and arts, defined "culture and arts" as "matters regarding literature, art, music, entertainment, and publications." The definition became a ground for the current "multi-purpose" concept. The organization of Ministry of Culture and Public Information set up a culture and administration system to state its supervision of "culture and arts" and distinguish popular culture from the promotion of arts. During the period, former President Park exhibited his perception of "culture=arts=culture and arts" in his speeches. Arts belonged to the category of culture, but it was considered as "culture and arts." There was no department devoted to arts policies when the act was enacted with a broad scope of culture accepted. This ambiguity worked as a mechanism to mobilize arts in ideological utilizations as a policy. Against this backdrop, the Sejong Center for the Performing Arts, a multi-purpose performance hall, was established in 1978 based on the Culture and Arts Promotion Act under the supervision of Ministry of Culture and Public Information. There were, however, conflicts of value over the issue of accepting the popular music among the "culture and arts = multiple purposes" of the system, "culture ≠ arts" of the cultural organization that pushed forward its establishment, and "culture and arts = arts" perceived by the powerful class. The new military regime seized power after Coup d'état of December 12, 1979 and failed at its culture policy of bringing the resistance force within the system. It tried to differentiate itself from the Park regime by converting the perception into "expansion of opportunities for the people to enjoy culture" to gain people's supports both from the side of resistance and that of support. For the Chun Doo-hwan regime, differentiating itself from the previous regime was to secure legitimacy. Expansion of opportunities to enjoy culture was pushed forward at the level of national distribution. This approach thus failed to settle down as a long-term policy of arts development, and the military regime tried to secure its legitimacy through the symbolism of hardware. During the period, the institutional ground for public culture and arts halls was based on the definition of "culture and arts" in the Culture and Arts Promotion Act enacted under the Yusin system of the Park regime. The "multi-purpose" concept, which was the management goal of public performance halls, was born based on this. In this context of the times, proscenium performance halls of a similar structure and public culture and arts halls with a similar management goal were established around the nation, leading to today's performance art and culture in the nation.