• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.17 no.10
• /
• pp.635-646
• /
• 2016

This paper proposes a housing business model, where the presale and Chonsei housing are supplied under a presale system at the same time based on the characteristic correlation between the housing presale market and Chonsei market in Korea. Markowitz portfolio theory was used to review the risk diversification effects from the changes in the ratio between the presale housing supply and the Chonsei housing supply. The housing sale price indicator was used as a proxy variable to determine the presale housing supply. The housing Chonsei price indicator was used as a proxy variable to determine the Chonsei housing supply. The proposed housing business model was applied to major areas in Korea to examine the risk diversification effect. Comparisons of the regional portfolio analyses showed that the flexibility of the proposed housing business model can be quite effective because each regional housing market exhibits different characteristics. Market participants, such as developers, construction companies, consumers, and government, can expect various effects through the proposed housing business model. Nevertheless, policy support is necessary for practical applications of the proposed housing business model. In particular, public funds from the government need to be introduced.

• Korean Journal of Construction Engineering and Management
• /
• v.22 no.6
• /
• pp.44-54
• /
• 2021

As the CM at Risk market grows recently, designers and CM companies that have been performing agency CM services have been showing their interests to participate in the CM at Risk projects. With the assumption that agency CM companies with a lot of experiences and know-how in the field of construction project management have created the circumstances to enter the CM at Risk market, this study investigates the competencies necessary for the agency CM companies to carry out the CM at Risk projects. The compentencies to run the CM at Risk projects were identified based on the literature review. A survey was conducted to identify the competencies that need to be supplemented first. The survey results revealed that competency related to partner companies, finance and guarantee, risk and claim, and project cost were identified to have a higher level of complementation compared to other competencies. In addition, considering that the level of competency that need to be secured is high, as the level of holding of all competency is on average 76% of the required level, in the beginning, small-scale CM at Risk projects with relatively low risk are mainly carry out, strengthening competency and then increasing the scale is considered more appropriate strategy.

• Proceedings of the Korean Institute Of Construction Engineering and Management
• /
• 2008.11a
• /
• pp.119-128
• /
• 2008

Recently, because of the economic slump on the national construction market, enterprises are making a ceaseless effort on participating in the competitiveness enforcement, internationalization and globalization. As this firm has found a larger market abroad and took part in great and small services since 2003, successful services are going under construction in USA, Mongolia and Guam. In this case study, looking around the on-going projects, the analysis and solutions of the differences of the counter attitude and matters resulted from politic, economical, social and cultural gaps are proposed. This study is helpful to enterprises which are planning to extend its business abroad and which want to take part in global standards.

• Journal of Korean Society of Water and Wastewater
• /
• v.30 no.2
• /
• pp.155-165
• /
• 2016

Pipe Deterioration Prediction (PDP) and Pipe Failure Risk Prediction (PFRP) models were developed in an attempt to predict the deterioration and failure risk in water mains using fuzzy technique and the markov process. These two models were used to determine the priority in repair and replacement, by predicting the deterioration degree, deterioration rate, failure possibility and remaining life in a study sample comprising 32 water mains. From an analysis approach based on conservative risk with a medium policy risk, the remaining life for 30 of the 32 water mains was less than 5 years for 2 mains (7%), 5-10 years for 8 (27%), 10-15 years for 7 (23%), 15-20 years for 5 (17%), 20-25 years for 5 (17%), and 25 years or more for 2 (7%).

• Journal of Navigation and Port Research
• /
• v.29 no.3 s.99
• /
• pp.181-187
• /
• 2005

In order to reduce the management risks of and secure traffic safety of Aqua-bus which will be operated at the channel of Wolmi do and Yungjong-do for the first time in Korea, we investigate maritime traffic and natural environment around the channel, and analyze the factors of risk involved in her operation. We also propose the countermeasure to secure the safety of navigation in her service including precautionary area, exclusive terminal, operation management, and etc.

• Tunnel and Underground Space
• /
• v.21 no.4
• /
• pp.251-263
• /
• 2011

The geomechanical characteristics of rock and the structural geological feature of the fault should be studied and examined for the successful construction of large-span tunnel. In this case study, that is a important case for the tunnel collapse and reinforcement during the construction for the waterway tunnel at large thrust fault zone in schist, we carried out geological and geotechnical survey for make the cause and mechanism of tunnel collapse. Also, we have designed the reinforcement and re-excavation for the safe construction for collapse zone and have carried out successfully the re-excavation and finished the final concrete lining.

• Journal of the Korean Society of Safety
• /
• v.25 no.3
• /
• pp.118-122
• /
• 2010

In order to provide the necessary operation flexibility during the Nuclear power operation, the extension of existing allowed outage time(AOT) is needed. The extension of AOT affects the Nuclear power plant safety. The validity of changed technical specification requirements should be proved by the safety assessments. In this paper, we evaluated the extension of emergency diesel generator AOT for a single inoperable emergency diesel generator(EDG) from 3days to 7days, 10days and 14days. Finally, the AOT extension contributes the NPP performances through decreasing the unexpected plant trips, reinforcing maintenance and avoiding risks due to unnecessary operation mode changes when the NPP is under the surveillance tests or maintenance.

• Journal of the Korean Institute of Navigation
• /
• v.25 no.2
• /
• pp.137-148
• /
• 2001

This paper aims to select the appropriate risk management techniques on the risks of container transport at sea based on risk and risk management theory. Risk management can be defined as a systematic process for the identification and evaluation of pure loss exposure faced by an organization or individual, and for the selection and administration of the most appropriate techniques for treating such exposures. Risks of container at sea transport are widely divided into three categories, such as risk of container itself, risk of container cargo and liability to third party. This paper places emphasis on the risks of container transport at sea as well as limits its scope from container terminal to container terminal.

• Proceedings of the Korean Society for Noise and Vibration Engineering Conference
• /
• 2008.04a
• /
• pp.132-139
• /
• 2008

The blade vibration problem of bladed disk is the most critical subject to consider since it directly affects the stable performance of the engine as well as life of the engine. Especially, due to complicated vibration pattern of the bladed disk, more effort was required for vibration analysis and test. The research of measuring the vibration of the bladed disk, using NSMS(Non-intrusive stress measurement) instead of Aeromechanics testing method requiring slip ring or telemetry system with strain gauge, was successful. These testing can report the actual stresses seen on the blades; detect synchronous resonances that are the source of high cycle fatigue (HCF) in blades; measure individual blade mis-tuning and coupled resonances in bladed disks. In order to minimize the error being created due to heat expansion, the tip timing sensor is installed parallel to the blade trailing edge, yielding optimal result. Also, when working on finite element analysis, the whole bladed disk has gone through three-dimensional analysis, evaluating the family mode. The result of the analysis matched well with the test result.

• Plant Journal
• /
• v.7 no.2
• /
• pp.39-43
• /
• 2011

Due to the recent uncertainty of market situations such as the escalation of petroleum prices, increased production capacities of plants, limitations of the available EPC (Engineering, Procurement, Construction) contractors, and the increase of raw material prices, EPC contractors have had a tendency to include a higher reserve contingency in the lump-sum turnkey contract price. In order to overcome the changes in the market, the plant project construction industry has started to apply the converted lump-sum turnkey contract in plant construction market. This study was focused to find the associated risks and to analyse the identified risks on recent trend of application of the new contract type, which is the converted lump-sum turnkey contract. It was recognized from the analysis that quality and cost have more high priority risks than other project objectives. This paper also suggests the mitigation plan for identified risks to achieve project objectives appropriate to the converted lump-sum turnkey project from the viewpoint of an EPC contractor keeping transparency with owner.