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The term structure of KTB (Korea Treasury Bond) is empirically implemented and forecasted by the extended 2-factor CIR model. Pearson and Sun model. MLE is applied to estimate parameters. Using KTB prices forecasted by the model, strategies of trading and hedge between KTB, KTF (Korea Treasury Futures) are established. In this article we can see that Pearson and Sun model appropriately explains the term structure of KTB but does not fit forecasting KTB prices. However, the model well forecasts the direction of interest rate moving up or down. Through such a forecast‘ profit via trading KTB and KTF can be realized.

The objective of this paper is to understand changes and progress of the Korean childcare regime by examining the evolutional process of childcare initiatives that were developed since the Japanese colonial rule.

This study employed a qualitative-based research design with a particular emphasis on explanatory research. Meanwhile, the data were gathered through the peer-reviewed literature and reports.

The findings indicate that Korea has had three types of childcare regimes: effective-informal, productivist and inclusive-liberal orientation. It also pinpoints that while the care regime development followed the European regime, the egalitarian society, which is a social prerequisite for modern welfare state-building, has not yet been fully established. This paradoxical situation eventually impedes the development of universal childcare aimed at promoting gender equality and a work-life balance.

This article offers a model and characteristics of the Korean childcare regime dating back to the Japanese colonial period up until the Moon Jae-In administration, where it still receives less attention in most of the social policy literature (see Table 1).

Political analyses of the East Asian welfare state development often stress the importance of the power resource model, in which vibrant coalitions between the leftist party, interest groups, civil society and working-class unions have become driving factors in producing generous welfare outcomes. Challenging such analyses, this article discusses the convergence of the political attitude between political actors who are increasingly homogeneous (supportive) when it comes to the universal welfare state notion by focussing on childcare in South Korea.

By using desk review of the peer-reviewed literature and reports, this article investigates the causation for why political parties with different political ideologies were keen on extending childcare programs and its outcome in addressing the existing demographic problems in Korea.

Although the collective movement, especially in the 1990s and 2000s, had given important contributions to the early development of childcare in South Korea, more breakthroughs in childcare features were precisely and rapidly developed after politicians from different spectrums of political affiliations converged in their supportive attitude of the universal welfare. The driving factors of political convergence itself are not merely due to electoral competition or political activism; furthermore, it can be linked to the increased global institution involvement in domestic policy with extensive permeability, which, have ruined domestic policy development maintained for ideological reasoning and bring in more popular policy setting.

This article contributes to the growing literature on the political aspect of East Asian social policy studies, which goes beyond the traditional power resource analysis and makes a novel contribution to the childcare policy studies.

This paper investigates a retrospective on the Journal of Derivatives and Quantitative Studies (JDQS) on its 30th anniversary based on bibliometric. JDQSs yearly publications, citations, impact factors, and centrality indices grew up in early 2010s, and diminished in 2020. Keyword network analysis reveals the JDQS's main keywords including behavioral finance, implied volatility, information asymmetry, price discovery, KOSPI200 futures, volatility, and KOSPI200 options. Citations of JDQS articles are mainly driven by article age, demeaned age squared, conference, nonacademic authors and language. In comparison between number of views and downloads for JDQS articles, we find that recent changes in publisher and editorial and publishing policies have increased visibility of JDQS.

Purpose – The purpose of the research was to examine the process of new teacher evaluation policy development in South Korea, in order to gain insight into how a controversial policy could be established in education. Research questions were about the process of the policy development, political actors involved and their influences, and the meaning of teacher evaluation in the newly established teacher evaluation policy.Methodology – The study uses a qualitative and descriptive-analytical process from a hermeneutics perspective that views policy as text to be interpreted. This perspective allows policy to be connected to a larger social context through interpretations of text. The main data sources included policy documents, statements by various organizations, research reports, and public media artifacts produced between 2000 and 2012. For data analysis, constant comparison and content analysis methods were used.Findings – The findings show that the process of developing a teacher evaluation system demonstrated an unsuccessful attempt to apply the Habermasian notion of discursive democracy. Relevant stakeholders were invited to deliberate on the reform, but official meetings ended prematurely without consensus. In the end, the government proceeded without full support of any stakeholders. During the deliberation process, teacher organizations and parent groups demonstrated conflicting perspectives on teacher work and the new evaluation system only partially accommodated both perspectives. The effectiveness of the new evaluation system remains to be researched.Value – The policy development process and the evaluation system shown in this study should inform similar efforts in other contexts.