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FinTech Conference by KAIST, EDHEC-Risk Institute, Princeton, and Tsinghua
KAIST will partner with EDHEC-Risk Institute, Princeton University, and Tsinghua University to host a series of annual rotation conference on FinTech. The inaugural conference will be held in Princeton on April 26 and is entitled ‘Four-University Rotating FinTech Conference: Wealth Management Systems for Individual Investors.’
The conference will facilitate discussion among all interest parties of academics, practitioners, and regulators from around the world. Professor Woo Chang Kim of the Department of Industrial & Systems Engineering will represent KAIST. Professor Kim is also the head of the Center for Wealth Management Technologies at KAIST.
In addition to Professor Kim, leading experts from the US, Asia, and Europe will present at the conference, including Andrew Yao (Turing Award recipient and founder of IIIS FinTech Center at Tsinghua University), John Bogle (founder of the Vanguard Group, and president of the Bogle Financial Markets Research Center), Lionel Martellini (director of EDHEC-Risk Institute), John Mashey (Bell Labs/Silicon Valley computer scientist/corporate executive), and John Mulvey (professor and founding member of the Bendheim Center for Finance at Princeton University).
This year’s conference will feature following sessions:
· Mass-Customization of Goal-Based Investment Solutions: The New Frontier in Digital Wealth Management Services
· Goal-Based Investment via Multi-Stage Stochastic Goal Programming for Robo-Advisor Services
· Big Data – Yesterday, Today and Tomorrow
· Applying Machine Learning Concepts for Asset Allocation and ALM
· FinTech: Drawing Strengths from Computing Theories
· Savings and Investing to Achieve Retirement Goals: An Update Given Current Market Assumptions · The Rise of Robo-Advisors: A Threat or an Opportunity for the Wealth Management Industry?
The conference will include the participation of official partner Samsung Asset Management.
2017.04.20 View 7720 -
Professor Otfried Cheong Named as Distinguished Scientist by ACM
Professor Otfried Cheong (Schwarzkopf) of the School of Computing was named as a Distinguished Scientist of 2016 by the Association for Computing Machinery (ACM).
The ACM recognized 45 Distinguished Members in the category of Distinguished Scientist, Educator, and Engineer for their individual contributions to the field of computing. Professor Cheong is the sole recipient from a Korean institution. The recipients were selected among the top 10 percent of ACM members with at least 15 years of professional experience and five years of continuous professional membership.
He is known as one of the authors of the widely used computational geometry textbook Computational Geometry: Algorithms and Applications and as the developer of Ipe, a vector graphics editor. Professor Cheong joined KAIST in 2005, after earning his doctorate from the Free University of Berlin in 1992. He previously taught at Ultrecht University, Pohang University of Science and Technology, Hong Kong University of Science and Technology, and the Eindhoven University of Technology.
2017.04.17 View 6716 -
Nuclease-Resistant Hybrid Nanoflowers
An eco-friendly method to synthesize DNA-copper nanoflowers with high load efficiencies, low cytotoxicity, and strong resistance against nucleases has been developed by Professor Hyun Gyu Park in the Department of Chemical and Biomolecular Engineering and his collaborators.
The research team successfully formed a flower-shaped nanostructure in an eco-friendly condition by using interactions between copper ions and DNA containing amide and amine groups. The resulting nanoflowers exhibit high DNA loading capacities in addition to low cytotoxicity.
Flower-shaped nanocrystals called nanoflowers have gained attention for their distinct features of high surface roughness and high surface area to volume ratios. The nanoflowers have been used in many areas including catalysis, electronics, and analytical chemistry.
Of late, research breakthroughs were made in the generation of hybrid inorganic-organic nanoflowers containing various enzymes as organic components. The hybridization with inorganic materials greatly enhanced enzymatic activity, stability, and durability compared to the corresponding free enzymes.
Generally, the formation of protein nanocrystals requires high heat treatment so it has limitations for achieving the high loading capacities of intact DNA.
The research team addressed the issue, focusing on the fact that nucleic acids with well-defined structures and selective recognition properties also contain amide and amine groups in their nucleobases. They proved that flower-like structures could be formed by using nucleic acids as a synthetic template, which paved the way to synthesize the hybrid nanoflowers containing DNA as an organic component in an eco-friendly condition.
The team also confirmed that this synthetic method can be universally applied to any DNA sequences containing amide and amine groups. They said their approach is quite unique considering that the majority of previous works focused on the utilization of DNA as a linker to assemble the nanomaterials. They said the method has several advantageous features. First, the ‘green’ synthetic procedure doesn’t involve any toxic chemicals, and shows low cytotoxicity and strong resistance against nucleases. Second, the obtained nanoflowers exhibit exceptionally high DNA loading capacities.
Above all, such superior features of hybrid nanoflowers enabled the sensitive detection of various molecules including phenol, hydrogen peroxide, and glucose. DNA-copper nanoflowers showed even higher peroxidase activity than those of protein-copper nanoflowers, which may be due to the larger surface area of the flower- shaped structures, creating a greater chance for applying them in the field of sensing of detection of hydrogen peroxide.
The research team expects that their research will create diverse applications in many areas including biosensors and will be further applied into therapeutic applications.
Professor Park said, “The inorganic component in the hybrid nanoflowers not only exhibits low cytotoxicity, but also protects the encapsulated DNA from being cleaved by endonuclease enzymes. Using this feature, the nanostructure will be applied into developing gene therapeutic carriers.”
This research was co-led by Professor Moon Il Kim at Gachon University and KAIST graduate Ki Soo Park, currently a professor at Konkuk University, is the first author. The research was featured as the front cover article of the Journal of Materials Chemistry B on March 28, Issue 12, published by the Royal Society of Chemistry.
The research was funded by the Mid-Career Researcher Support Program of the National Research Foundation of Korea and the Global Frontier Project of the Ministry of Science, ICT & Future Planning.
(Figure: (A) Schematic illustration of the formation of nuclease-resistant DNA–inorganic nanoflowers. (B) SEM images showing time-dependent growth of DNA-nanoflowers. The concentration of A-rich ssDNA (Table S1, ESI†) was 0.25 mM.)
2017.04.14 View 8311 -
Expanding the Genetic Code of Mus Musculus
Professor Hee-Sung Park of the Department of Chemistry, who garnered attention for his novel strategy of installing authentic post-translational modifications into recombinant proteins, expanded his research portfolio to another level. Professor Park’s team was the first to report the generation of a mouse strain with an expanded genetic code, allowing site-specific incorporation of unnatural amino acids.
Professor Park published the research on the new chemical biology method for achieving selective chemical modifications in proteins in Science last September. The research team, this time in collaboration with Professor Chan Bae Park of the Department of Physiology at the Ajou University School of Medicine, demonstrated temporal and spatial control of protein acetylation in various organs of the transgenic mouse using a recombinant green fluorescent protein as a model protein. This research was published in the online edition of Nature Communications on February 21.
This approach enables the rapid onset of position-specific acetylation of a target protein at any developmental stage, facilitating temporal and spatial control of protein acetylation in various organs of the transgenic mouse. Such temporal and spatial control of protein acetylation will be of prime importance for investigating many essential biological processes and human diseases at the tissue and organism level.
Almost all human proteins, the products of about 25,000 genes, are known to undergo various post-translational modifications during and after synthesis. Post-translation modifications regulate the function of cellular proteins, playing a key role in many essential processes such as delivering signals and body growth. However, the unusual protein modifications, aroused from genetic and/or environmental factors, trigger severe diseases including cancer, dementia, and diabetes.
The team inserted transgenes into the mouse genome to allocate the site-specific addition of unnatural amino acids. The researchers inserted a modified version of lysine into the house mice, which allowed for the control of the acetylation. They used recombinant green fluorescent proteins from transgenic house mice as models for control of the acetylation.
The team was also able to regulate the acetylation of specific temporal and spatial frames in the mice, restraining the abnormality in proteins to certain organs such as the liver and kidneys. The research team said the strategy will provide a powerful tool for systematic in vivo study of cellular proteins in the most commonly used mammalian model organisms for human physiology and disease. Professor Park said, “This method can be easily extended to generate a wide range of custom-made transgenic mouse strains for further investigating diverse proteins of interest.” He added, “This method can be further extended to generate a wide range of custom-made transgenic mouse strains, opening a new paradigm for investigating anti-cancer and cerebral disease treatments.
This work was supported by grants from KAIST Systems Healthcare and the Medicinal Bioconvergence Research Center and the Intelligent Synthetic Biology Center of the Global Frontier Project funded by the Ministry of Science, ICT & Future Planning and the Ministry of Food and Drug Safety.
(Figure:Temporal and spatial control of in vivo protein acetylation)
(a) Temporal expression of acetylated GFPuv in the AcK-GFPamber mouse. The expression of GFPuv in skeletal muscle, liver, and lung tissues was detected only in the AcK-injected mouse. Scale bar, 200 µm. (b) Western blotting of anti-FLAG-immunoprecipitated proteins from tissues of the AcK-GFPamber mouse. Acetylated GFPuv was produced after AcK injection. (c) Spatial expression of acetylated GFPuv in the AcK-GFPamber mouse. Acetylated GFPuv was observed only in skeletal muscle when AcK was directly delivered to the tissues. Sacle bar, 200 µm.
2017.03.27 View 8476 -
Professor Kwangjo Kim Named as Fellow of IACR
Professor Kwangjo Kim of the Graduate School of Information Security has been selected as a fellow of the International Association for Cryptologic Research (IACR).
The IACR has honored outstanding scholars who have achieved academic excellence in cryptologic research since 2004. He is the first Korean scholar to receive an IACR fellowship.
The IACR, established in 1981, is responsible for organizing international cryptologic conferences every year including the three major cryptologic academic conferences Eurocrypt, Crypto, and Asiacript. The IACR also sponsors workshop series such as the Theory of Cryptography Conference (TCC), the Workshop on Fast Software Encryption (FSE), the Public Key Cryptography Workshop (PKC), and Cryptographic Hardware and Embedded Systems (CHES).
Professor Kim, an internationally acclaimed scholar in the fields of cryptology and information security theory and its applications, was recognized for his outstanding academic achievements and leadership. He has made significant contributions to cryptology in Korea by hosting Asiacript in 1996 and 2001 as well as CHES in 2014. During his 34 years of academic activities, he has published more than 80 SCI journal papers and garnered more than 20,000 citations.
Professor Kim served on the board of the directors of the IACR from 2000 to 2004 and was the chairperson of the Asiacript Steering Committee from 2005 to 2008. He is on the editorial board of the online journal Cryptography.
Professor Kim said, “I am so humbled and honored to be named as a fellow of such a prestigious academic association. I will continue to strive to assist highly educated information security personnel with further research in cryptology.”
2017.03.16 View 7045 -
13 KAIST Faculty Named as Inaugural Members of Y-KAST
The Korean Academy of Science and Technology (KAST) launched the Young Korean Academy of Science and Technology (Y-KAST) and selected 73 scientists as its inaugural members on February 24. Among them, 13 KAIST faculty were recognized as the inaugural members of Y-KAST.
Y-KAIST, made up of distinguished mid-career scientists under the age of 45, will take the leading role in international collaboration as well as innovative agenda-making in science and technology.
The inaugural members include Professor Hyotcherl Ihee of the Department of Chemistry and Dr. Sung-Jin Oh of the Center for Mathematical Challenges at the Korea Institute for Advanced Study (KIAS), affiliated with KAIST. Professor Ihee is gaining wide acclaim in the fields of physics and chemistry, and in 2016, Dr. Oh was the youngest ever awardee of the Presidential Award of Young Scientist.
The other Y-KAIST members are as follows: Professors Haeshin Lee of the Department of Chemistry; Mi Young Kim, Byung-Kwan Cho, and Ji-Joon Song of the Department of Biological Sciences; Song-Yong Kim of the Department of Mechanical Engineering; Sang-il Oum of the Department of Mathematical Sciences; Jung Kyoon Choi of the Department of Bio and Brain Engineering; Seokwoo Jeon, Sang Ouk Kim, and Il-Doo Kim of the Department of Materials Science and Engineering; Jang Wook Choi of the Graduate School of EEWS (Energy, Environment, Water and Sustainability); and Jeong Ho Lee of the Graduate School of Medical Science and Engineering.
The leading countries of the Academy of Science, which include Germany, Sweden, Belgium, Canada, and Japan, have established the Young Academy of Science since 2010 in order to encourage the research activities of their young scientists and to establish a global platform for collaborative research projects through their active networking at home and abroad.
President Myung-Chul Lee of KAST said, “We will spare no effort to connect these outstanding mid-career researchers for their future collaboration. Their networking will make significant impacts toward their own research activities as well as the global stature of Korea’s science and technology R&D.
(Photo caption: Members of Y-KAST pose at the inaugural ceremony of Y-KAST on February 24.)
2017.03.02 View 15403 -
Prof. Woo Chang Kim Is Appointed as Managing Editor of Quantitative Finance
Professor Woo Chang Kim of the Industrial and Systems Engineering Department has been elected as the Managing Editor of Quantitative Finance.
Founded in 2001, Quantitative Finance has been an internationally-acclaimed peer-reviewed journal in the field of financial engineering, along with Mathematical Finance.
This is the first time for a Korean researcher to be named for the editorial board, which consists of eminent scholars from around the world, including four Nobel laureates.
Professor Kim’s expertise lies in financial optimization, portfolio management, and asset liability management. In recent years, he has focused his research on robo-advisors in the area of FinTech, and for this contribution, he was appointed as managing editor.
Professor Kim also served as an editor, deputy editor, and a member of the editorial boards for various journals, including the Journal of Portfolio Management and Optimization and Engineering. Currently, he serves as a member of the Korean National Pension Fund’s Electoral Commission, an adviser to Samsung Asset Management Co., Ltd., and the director of the KAIST Asset Management for Future Technology Research Center that was opened in October 2016.
2017.02.23 View 7418 -
Dr. Sung-Chul Shin Selected 16th President of KAIST
(President Sung-Chul Shin)
The KAIST Board of Trustees elected Professor Sung-Chul Shin of the Department of Physics the 16th president of KAIST on February 21. Professor Shin succeeds President Sung-Mo Kang whose four-year term will end on February 23. He is the first KAIST alumnus to serve as its president.
The Board of Trustees announced, “We believe that Professor Shin’s scientific achievement, outstanding leadership, and clear vision will serve KAIST faculty, students, and staff very well. He will be the best person to help KAIST leap forward in the four years ahead.”
The newly-elected president said, “I am humbled and honored to have been elected to lead such a prestigious institute of Korea. Aiming to be one of the top ten global universities, KAIST will continue to innovate its systems.” Previously, Dr. Shin led the Daegu Gyeongbuk Institute of Science and Technology (DGIST) for six years as president since 2011.
Professor Shin joined the KAIST faculty in 1989. He graduated from Seoul National University and then earned his MS degree in condensed matter physics at KAIST in 1977. After earning his Ph.D. in material physics at Northwestern University in 1984, he worked at Eastman Kodak Research Labs as a senior research scientist for five years.
Before heading to DGIST, President Shin held key administrative positions at KAIST from the early 1990s including dean of planning, dean of the international office, and vice-dean of student affairs. During President Robert Laughlin’s tenure, the first foreign president at KAIST, he served as vice-president for two years from 2004. He also served on the Presidential Advisory Council on Science and Technology of the Korean government as vice chairperson from 2015 to 2016.
A renowned scholar in the field of nanoscience, President Shin’s research focuses on the artificial synthesis and characterization of nonmagnetic materials, magnetic anisotropy, and magneto-optical phenomena. He leads the Laboratory for Nanospinics of Spintronic Materials at KAIST and has published in 290 journals while holding 37 patents.
A fellow in the American Physical Society (APS) since 2008, he was the president of the Korean Physical Society from 2011 to 2012. He has been on the editorial board of J. Magnetism and Magnetic Materials from 2009 and was the first Korean recipient of the Asian Union of Magnetics Societies (AUMS) Award, which recognizes outstanding scientists in the field of magnetics.
President Shin envisions making KAIST’s research and education more competitive through continuing innovation. His innovation efforts will extend to the five key areas of education, research, technology commercialization, globalization, and future planning.
Among his priorities, he emphasizes multidisciplinary studies and leadership training for students. He plans to focus on undeclared major courses for undergraduates to help them expand their experience and exposure to diverse disciplines. This approach will help create well-rounded engineers, scientists, and entrepreneurs by enabling them to develop skills while leveraging a strong connection to the arts, humanities, and social sciences.
To better respond to Industry 4.0, which calls for convergence studies and collaborative work, he proposed establishing a ‘Convergence Innovation System’ by strategically selecting 10 flagship convergence research groups. In order to accelerate the technology commercialization and ecosystem of start-ups, he will strengthen entrepreneurship education, making it a prerequisite requirement for students. President Shin said he will spare no effort to incubate and spin-off ventures in which KAIST technology is being transferred. For globalization efforts, he plans to increase the ratio of foreign faculty from 9 percent to 15 percent, while doubling the current foreign student enrollment ratio of 5 percent. For future strategic innovation, he will implement a long-term innovation strategic plan dubbed ‘Vision 2031.’
2017.02.22 View 9398 -
Professor Shin Honored Posthumously for Iridescent Microparticles
(The Late Professor Joong-Hoon Shin (left) and Professor Shin-Hyun Kim)
A research team co-led by Professor Shin-Hyun Kim from the Department of Chemical and Biomolecular Engineering and Professor Jong-Ryul Jeong from the Department of Materials Science and Engineering at Chungnam National University developed iridescent microparticles with a structural color gradient. The research team posthumously dedicated their research to a renowned professor in the field of nanophotonics, the late Professor Joong-Hoon Shin of the Graduate School of Nanoscience and Technology at KAIST. He passed away suddenly in a car accident last September.
The iridescent microparticles, which allow on-demand control over structural color, will be key components for next-generation reflection-mode displays with clear color realization even in direct sunlight.
Materials such as opals, Morpho butterfly wings, and peacock feathers all display beautiful colors without pigment, using regularly-spaced nanostructures. Regularly-spaced nanostructures render color, by selectively reflecting the light of a particular wave through light interference. As such, materials that possess periodic modulation of refractive index at subwavelength scale are referred to as photonic crystals.
In general, photonic crystals are only able to display a single color, so limitations exist when attempting to apply them to reflection-mode displays which call for multiple structural colors. The research team addressed the issue using inspiration from snowflakes stacking in the winter. When snow falls on the surface of a round-shaped structure, the thickness of the snow stacking differs depending on the orientation. Based on this observation, the research team created photonic microparticles with a structural color gradient by depositing two different materials on spherical microparticles.
When some material is deposited on the surface of a sphere, the material on the top is thickest and becomes thinner on the sides. The team alternately deposited titania and silica on the spherical microparticles to form periodic modulation of the refractive index. The thickness of the alternating photonic layers is reduced along the angle from the top, which yields a structural color gradient.
Consequently, the microparticles reflect long-wavelength red light from the top of the sphere and short-wavelength blue light from the side of the sphere. Any color of the visible spectrum can be selected in between the top and side depending on the orientation of the microparticles.
The research team used an external magnetic field as a way to control the orientation of the photonic microparticles and the structural colors. As magnetic iron layer was deposited underneath the alternating photonic layer, it was possible to freely control the orientation of the microparticles using a magnet, thereby allowing control of the color seen by the users.
KAIST doctoral candidate Seung Yeol Lee of the Department of Chemical and Biomolecular Engineering is the first author of this research, with support from the Midcareer Researcher Program of the National Research Foundation and funded by the Ministry of Science, ICT, and Future Planning (MSIP). This research was published in the online edition of Advanced Materials on February 6, 2017.
Figure1: Sets of an OM image of photonic Janus microspheres and an SEM image showing a cross-section of the photonic layers.
Figure 2: A series of schematics and OM images showing the color change depending on the orientation angle of the photonic Janus microsphere.
2017.02.17 View 8050 -
An Improved Carbon Nanotube Semiconductor
Professor Yang-Kyu Choi and his research team of the School of Electrical Engineering at KAIST collaborated with Professor Sung-Jin Choi of Kookmin University to develop a large-scale carbon nanotube semiconductor by using a 3-D fin-gate structure with carbon nanotubes on its top.
Dong Il Lee, a postdoctoral researcher at KAIST’s Electrical Engineering School, participated in this study as the first author. It was published in ACS Nano on November 10, 2016, and was entitled “Three-Dimensional Fin-Structured Semiconducting Carbon Nanotube Network Transistor.”
A semiconductor made with carbon nanotubes operates faster than a silicon semiconductor and requires less energy, yielding higher performance.
Most electronic equipment and devices, however, use silicon semiconductors because it is difficult to fabricate highly purified and densely packed semiconductors with carbon nanotubes (CNTs).
To date, the performance of CNTs was limited due to their low density. Their purity was also low, so it was impossible to make products that had a constant yield on a large-surface wafer or substrate. These characteristics made the mass production of semiconducting CNTs difficult.
To solve these difficulties, the research team used a 3-D fin-gate to vapor-deposit carbon nanotubes on its top. They developed a semiconductor that had a high current density with a width less than 50 nm.
The three-dimensional fin structure was able to vapor-deposit 600 carbon nanotubes per micrometer. This structure could have 20 times more nanotubes than the two dimensional structure, which could only vapor-deposit thirty in the same 1 micrometer width.
In addition, the research team used semi-conductive carbon nanotubes having a purity rating higher than 99.9% from a previous study to obtain a high yield semiconductor.
The semiconductor from the research group has a high current density even with a width less than 50 μm. The new semiconductor is expected to be five times faster than a silicon-based semiconductor and will require five times less electricity during operation.
Furthermore, the new semiconductor can be made by or will be compatible with the equipment for producing silicon-based semiconductors, so there will be no additional costs.
Researcher Lee said, “As a next generation semiconductor, the carbon nanotube semiconductor will have better performance, and its effectiveness will be higher.” He also added, “Hopefully, the new semiconductor will replace the silicon-based semiconductors in ten years.”
This study received support from the Center for Integrated Smart Sensors funded by the Ministry of Science, ICT & Future Planning of Korea as the Global Frontier Project, and from the CMOS (Complementary Metal-Oxide-Semiconductor) THz Technology Convergence Center of the Pioneer Research Center Program sponsored by the National Research Foundation of Korea.
Picture 1: 3D Diagram of the Carbon Nanotube Electronic Device and Its Scanning Electron Microscope (SEM) Image
Picture 2: 3D Transistor Device on an 8-inch Base and the SEM Image of Its Cross Section
2017.02.16 View 9641 -
New Building Endowed in Bio and Brain Engineering Department
An endowment from the former Chairman of Mirae Industries, Moon Soul Chung, was used to establish the Yang Bun Soon Building in the Bio and Brain Engineering Department at KAIST. The opening ceremony for the building took place on February 8 and was attended by President Sung-Mo Kang, KAIST administrators, faculty, and students.
The Yang Bun Soon Building, named after the wife of Chairman Chung, is a new addition to the Bio and Brain Engineering Department complex. The five-story building was erected next to the 11-story Chung Moon Soul Building, which was completed in 2003 using a portion of his first endowment to KAIST. Chairman Chung donated approximately 30 billion KRW for funding a convergence research for IT and BT in 2001.
The new building was completed with financing from Chung’s second endowment of 21.5 billion KRW in support of the fields of brain and cognitive sciences in 2014. The building will accommodate both lab facilities and lecture halls.
At the ceremony, President Kang thanked the Chungs for their continuing generosity to KAIST. He commended Chung for showing how entrepreneurs can fulfill their social responsibility by supporting Korea’s future through donations and support.
(Photo caption: Chung Moon Soul Building (left) and Yang Bun Soon Building(right))
2017.02.09 View 5267 -
Dr.M Drives Smart Healthcare Industry in Partnership with Hancom
President Sung-Mo Kang signed an agreement on January 25 with Hancom Group Chairman Sang Chul Kim to establish a smart healthcare complex in Gapyeong, Kyonggido. With the Gapyeong complex launch, KAIST will come to commercialize Dr. M system along with other Dr.M consortium members as a new growth engine to drive the smart health industry.
Dr. M is a smart healthcare platform developed by the Health Science Research Institute at KAIST in 2014. Dr. M is capable of analyzing and predicting diseases, as well as prescribing, by incorporating ICT and medical technologies. Dr. M applies diverse technologies such as healthcare sensors, wearable devices, low-power communications technology, and cloud and big data collection platforms.
Hancom Group, a leading computer software company in Korea, has participated in the project since 2015 for advancing the smart healthcare market by developing mobile healthcare software program. Hancom joined the Dr.M consortium launched last November.
(President Kang (left) poses with Hancom Chairman Kim after signing.)
2017.02.03 View 5647