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- New Year’s Message from the President of SKKU, Kyu Sang CHUNG
- Dear Sungkyun Family, The eventful year of 2017 that saw many issues and changes within the country has passed, and the year of 2018 has come. 2018 is the year of the Golden Dog as well as the year of 得意之秋, which means all wishes come true. I sincerely hope that all SKKU members’ dreams and wishes are realized in accordance with the meaning of 2018. Since SKKU declared ‘VISION 2020+’ as a blueprint of SKKU’s vision last year, we have shown outstanding achievement. In particular, SKKU has expanded its value as a global leading research-oriented university by publishing over 5,200 articles in the famous scientific journal, Science Citation Index Expanded (SCIE). Our research competence is recognized from various outcomes such as ranking No.2 in Korea for citation counts for top 1% research papers, the largest number of awardees (3 people) for Highly Cited Researchers in 2017, the only known Korean awardee (Prof. Nam Gyu PARK) for “2017 Potential recipients of the Nobel Prize", and more. Also, SKKU has strengthened its brand value as a global leading university by receiving high rankings in various evaluations. SKKU is the No.1 Korean private comprehensive university, 108th in QS world university rankings and 111th in THE, No.1 in NCSI for 11 consecutive years, No.1 in the job employment rate (76.4%) for 3 consecutive years, and more. Furthermore, SKKU is putting effort into promote new technology and investment by establishing the AI Convergence Center, which will lead the 4th Industrial Revolution and Kingo Investment Partners, a venture capital made by SKKU alumni companies. When I was appointed as a President of SKKU, I promised to improve results by building a solid foundation during my 1st year. During my presidency, I have been pushing for the New Challenge Project for 5 core fields: Software and Convergence Education, Research Competence, Global Alliance, Industrial-Academic Cooperation, and Management Innovation, and achieved many fruitful performances. I will give my best effort to complete projects that we have been working on. I believe the outstanding results that SKKU has shown were achieved by our three-in-one system of university, foundation, and alumni who have given their best efforts. I would like to express my sincere appreciation for all of the Sungkyun members: professors, staff, students, the university foundation, and alumni who gave their dedication and passion for the development of SKKU. I would like to ask for passion, active participation, and continuous innovation of all members in order to become a world top institution beyond the limits and crisis that our university is confronting. Again, thank you very much for all of your support and dedication. I wish all of you good health, happiness, and success in the coming year. January 1st, 2018 Kyu Sang CHUNG, The President of SKKU
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- 작성일 2018-01-09
- 조회수 3271
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- College of Economics' Online Magazine Issued
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On 15th November, College of Economics issued its first online magazine,
. The magazine covered the college's leading news, from Faculty, Students, Alumni and its Departments. [Please click here to read the magazine] -it does not support English. College of Economics is going to continue issueing the next magazines with more plentiful news next year, and planning to issue them twice a year. -
- 작성일 2017-11-28
- 조회수 3423
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- Prof. Doojin RYU Suggests a New Framework of Microstructure Studies and Extends Classical Models
- Studies in financial market microstructure examine the intraday price, volume, spread, and volatility dynamics of financial markets and illuminate how the latent demands of market participants are translated into intraday price and trading behaviors. The field of financial market microstructure studies has evolved since the early 90’s. The primitive microstructure models have very simple structures and the earlier microstructure theories do not adequately exploit the rich information provided by the big data of financial markets. Professor Doojin RYU suggests a new framework of microstructure studies and extends classical models in order to reflect various characteristics of intraday transactions and to derive meaningful economic implications. His first microstructure research provides an extended model to answer the question of who has an information edge in a highly fluid options market. It was published in the Journal of Futures Markets, a reputable finance journal, oriented to derivatives markets (“Informed trading in the index option market: The case of KOSPI 200 options,” Journal of Futures Markets, 2008, 28:12, 1118-1146). After the study, he suggests a cross-market microstructure model, which is new in this field. While existing studies only concentrate on the intraday asset price dynamics in a single market, his new approach considers the order and information flows from related asset markets when inferring the intraday dynamics of a main financial market (“Intraday price formation and bid-ask spread components: A new approach using a cross-market model,”Journal of Futures Markets, 2011, 31:12, 1142-1169). Recently, Prof. RYU has suggested comprehensive microstructure models to capture all aspects of microstructure information. The studies are “Considering all microstructure effects: The extension of a trade indicator model, Economics Letters, 2016, 146, 107-110” and “Trade duration, informed trading, and option moneyness, International Review of Economics and Finance, 2016, 44, 395-411”. He also analyzes how the violations of intraday option price monotonicity are related to investor characteristics and other microstructure noises. This study was recently published in the Journal of Futures Markets (“Option market characteristics and price monotonicity violations,”Journal of Futures Markets, 2017, 37:5, 473-498). By analyzing the high-frequency and high-quality information contained in the microstructure dataset of the Korean derivatives markets, he estimates his extended models and suggests important policy and regulatory implications.
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- 작성일 2017-11-22
- 조회수 3428
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- The 5th Korea-Russia Rector’s Forum
- The 5th Korea-Russia Rector’s Forum with the theme ‘The 4th Industrial Revolution and changes in Higher Education’ was held on November 9th (Thursday) at SKKU’s Natural Sciences Campus. At the forum, rectors from 13 Russian universities and 20 Korean universities participated and had in-depth discussions for seeking new directions for Korea and Russia’s higher education. The welcome speech was delivered by Kyu Sang CHUNG, the President of SKKU, followed by Kyu Hyung LEE, Chairman of Secretariat of KRD; Yeo Pyo YUN, the President of Chungbuk National University; and Ivanchenko Sergei NIKOLAEVICH, the Rector of Pacific National University/Head of Russian KRD «Education and Science» working group. At the 1st session, Prof. Jee-Hyong LEE (Dept. of Computer Science and Engineering/Vice Dean of Sungkyun AI Convergence Center) gave a presentation with the subject ‘AI and the Human’ while Prof. Anisimov Nikita YURIEVICH, Interim President of Far Eastern Federal University, talked about ‘Response to the Challenge of the 4th Industrial Revolution: Russia Techno Park as a Motive of Innovation and Development.’ The 2nd session was held under the theme of ‘The Age of Convergence and A New Direction for Korean-Russian University Exchange: Interdisciplinary Cooperation, Mutual Degree Recognition, Academic-Industrial Cooperation, etc.’ and the participants developed cooperation models in the fields of humanities/social sciences and natural sciences. They also shared their ideas on joint research activities, academia-industry cooperation, and research complexs. In the afternoon, each department had an individual meeting with Russian universities. On the SKKU side, professors from the Dept. of Mathematics, Dept. of Physics, Dept. of Electronic and Electrical Engineering, Dept. of Software, School of Chemical Engineering, Dept. of Civil, Architectural and Environmental System Engineering, Dept. of Systems Management Engineering, SAINT, and the Center for Integrated Nanostructure Physics participated. Lastly, Russian delegations had time to tour the Suwon campus and N-Center. The Center for Neuroscience Imaging Research and the Center for Integrated Nanostructure Physics introduced their research fields and researchers as well as their research facilities. On November 10th (Friday), the rectors from Russian universities visited the Samsung Innovation Museum (SIM) located in the Samsung Electronics Suwon Complex. They discussed possible academic-industrial cooperation with Samsung Electronics and had a chance to see Samsung’s history, technology, and products.
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- 작성일 2017-11-22
- 조회수 3369
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- 2017 Fall Semester Woosuk-Jungho Scholarship Conferment Ceremony
- <2017 Fall Semester Woosuk-Jungho Scholarship Conferment Ceremony> The College of Economics (Dean: Minseong KIM) held the Woosuk-Jungho Scholarship Conferment Ceremony on SEP 21st (Thu) at Business School Building, Room #33506. Through the evaluation of the Woosuk-Jungho Scholarship Committee, 19 students were finally selected; 13 students from the College of Economics and 6 students from the School of Business. All of the conferrers who received the scholarships were considered as excellent students who had marked remarkable academic grades, had served as models for others through their upright conduct, and were expected to become pillars for the development of the country. The Woosuk-Jungho Scholarship was established by alumni Woosuk Jungho (Economics ’58); the President of Hwashin Co., Ltd., (2012 to present). 121 students received this scholarship which amounts to 490 million won.
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- 작성일 2017-10-31
- 조회수 3325
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- SKKU Ranks No.2 in Korean University Rankings by Joong Ang Daily
- SKKU was named No.2 in Korean University Rankings by the Joong Ang Daily, followed by Seoul National University. Out of 61 comprehensive universities in Korea, the Joong Ang Daily evaluated the universities’ performances based on 33 criteria, including number of citations, scholarships, and employment rate. SKKU received huge recognition mainly for its support to faculty members and students. Last year, the school offered a total of 3.62 billion won in research expenses to faculty members, while giving 3.93 billion won of scholarships to students. SKKU is also well-known for publishing many research articles in international journals. Sung Jin Song, Vice-President of SKKU’s Planning and Regulation Division, said, “SKKU has been making investments for research and education, and we now see its results in our high employment rate and potential Nobel prize awardees like prof. Nam Gyu PARK at the Department of Chemical Engineering.”
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- 작성일 2017-10-27
- 조회수 3324
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- SKKU Ranks 111th in the THE World University Rankings, Rising from 137th Last Year
- Sungkyunkwan University ranked 111th in the THE (Times Higher Education) World Rankings this year, rising from 137th last year. SKKU also rose to 3rd place in the ranking of domestic universities in Korea. SKKU scored 54.1 points in teaching (rising from 53.7 points last year), 55.1 points in research (50.6 points last year), 69.5 points in article citations (66.5 points last year), 93.7 points in industry income (88.9 points last year), and 44.7 points in international outlook (39.6 points last year), showing a steady upward trend in the overall evaluation index. Kyu Sang CHUNG, the President of Sungkyunkwan University, said, “For the past several years, SKKU has been devoted to creating synergy through the mutual growth of education and research by supporting integrated research and recruiting world-class scholars as professors to introduce a global-standard education system. We will spare no effort to become a world-class university.” SKKU is implementing creative convergence education, such as multidisciplinary approaches and specialized academic-industrial cooperative education, that will lead the era of the Fourth Industrial Revolution. In particular, SKKU is expanding academic-industrial courses of study, such as convergent foundation projects, fusion capstone design, and integrated team field training in order to connect students’ creative business ideas to enterprises. Also, in cooperation with small businesses, SKKU created excellent results by releasing about 20 commercialized products and submitting more than 30 patent proposals every year.
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- 작성일 2017-10-16
- 조회수 3296
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- Department of Economics & Global Economics named as one of the very Best Departments for Economics
- On September 17th, SKKU's Department of Economics & Global Economics was named as "One of the very Best Departments" in the field of Economics, selected by Joongang Daily's University Evaluation 2017. Joongang Daily selected best departsments of fields of Humanities & Social Science among every universities. Along with D.of Economics in Korea univ., Seoul univ., Yeonsei Univ., SKKU's Department of Economics & Global Economics (Each) has selected as "One of the very Best Departments" in the field of Economics. Joongang Daily commented SKKU's Plentyful supports for research, a great number of quality papers on international journals, and high reception rate of scholarships had been main factor for being selected as the best department. (article: http://news.joins.com/article/21914141?cloc=joongang|home|topnews1#)
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- 작성일 2017-09-26
- 조회수 3410
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- College of Economics Graduate School Fair held
- 17-Fall's SKKU Graduate School Fair was held on 19th September (Tue) at ChoByungDoo Hall, 600th Anniversary Building for undergraduate students and graduates who are interested in entering a graduate school. College of Economics also took part in the fair. Department of Economics, Statistics, International Trade and Actuarial Science installed boothes and provided information such as graduate school curriculums, career advice, scholarships and personal consulting to more than 30 students. During the fair, Dean Minsung KIM also awarded undergraduate students who got excellent results from 2017-Spring semester, by bestowing Dean's Lists on them.
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- 작성일 2017-09-26
- 조회수 3284
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- Prof. Cham Na YOON Estimates Dynamic Games of Electoral Competition to Evaluate Term Limits
- Elections serve an important function in modern democracies by allowing voters to express their support for politicians who share their ideological views and plan to pursue the policies they prefer. In addition, elections provide voters the opportunity to remove from office incumbents that are not adequately performing the duties of their office. Over the last decade, much progress has been made in modeling electoral competition as a dynamic game with asymmetric information. One important qualitative finding of the theoretical literature is that the institutional design of election rules (e.g., term limits) can have a large impact on election outcomes and voters' welfare. However, few attempts have been made to quantify these welfare effects. This paper shows how to identify and estimate, using standard semi-parametric techniques, a class of dynamic games with perfect monitoring that have been at the frontier of recent research in political economy. Using US gubernatorial election data, they estimate the model to study the consequences of term limits. The team finds that the benefits from holding office are significant and large in magnitude. As a consequence, the prospects of reelection provide strong incentives for moderate governors to move towards the center of the ideological spectrum during their first term in office. Voters are willing to accept significant trade-offs in ideology to obtain a more capable governor. They find that there are significant differences in ideology across states and between parties within states. In contrast, there are only small differences in ability across states and no significant differences in the ability across parties. Term limits reduce welfare in the baseline model by six percent. They also find that tenure effects are negative for both parties. Consequently, term limits have the capacity to be constructive. The team show that with moderate levels of negative tenure effects term limits can be welfare improving.
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- 작성일 2017-09-07
- 조회수 3300