Professors Kim Su-bok & Park Bum-jo,
Selected as Fellows for Basic Development of Research in Humanities and Social Sciences for the Decade by the National Research Foundation of Korea.
Professor Kim Su-bok (Dept. of Literary Creative Writing) and Professor Park Bum-jo (Dept. of Economics) were selected as Fellows for Basic Development of Research in Humanities and Social Sciences for the Decade by the National Research Foundation of Korea.
An event acknowledging the selection was hosted by the National Research Foundation of Korea in celebration of the 10th anniversary of the Foundations project for basic development of research in humanities and social sciences, and a total of 145 research assignments around the nation were selected. A ceremony for certification of research results was held at Sejong Center for the Performing Arts in Seoul on Oct. 29, 2012, and the research results were open to the public from Oct. 29 to Nov. 3 at Seoul Sejong-ro Park and Busan BEXCO Convention Hall in exhibition format.
Professor Kim’s research project: “Research on how to unite and communicate cultural arts of North and South Korea for the day they reunite” and Professor Park’s research project: “Analysis on the relations between risk and revenue rate in stock markets: Use of Robust GMM Estimation for GARCH-M model” were selected as representative research results.
Professor Kim’s research began to gain renown after it was selected as one of the University Main Research Center Support Projects by the National Research Foundation in 2008. The project continues today, executing research work to find a measure to unite and communicate Northern and Southern cultural arts in various cultural arts fields of literature, theater performance, movies, music, etc.
This research project has published 46 academic papers over the last 4 years, as well as 4 books, including 『Shadow of Subject: Critical Understanding on North Korea’s Literary Theory』 (Kyungjin Publishing Company, 2011) and 『Unification Cultural History Outline 1: North Korea’s Literary Critics Data Commentary Book for 1990-1999』(Kyungjin Publishing Company, 2012), among others.
Moreover, Professor Kim has created a base for cultural arts research for the unification era by building a special data room filled with about 2,000 items representing North Korea’s cultural arts data collected over the last 4 years. This data room was authorized as a special data institution by MEST (Ministry of Education, Science and Technology) in 2011, recognized for its systematical special data management.
Professor Park developed models to clarify the confusion between empirical analyses and theoretical explanations of the relation between risk and rate of return that are generally accepted in asset markets - one of the core issues in finance and banking areas.
The theory that rate of return increases where higher risk exists is generally accepted in asset markets. However, many scholars have found an inverted relationship between the two in their empirical research. To resolve such errors, Professor Park designed a new model based on robust GMM estimation and applied it to the stock markets of the US, England and Japan, thus drawing the conclusion that risk and rate of return, indeed, have a significant positive relationship with each other.