• Journal of Korean Society of Transportation
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• v.35 no.4
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• pp.360-373
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• 2017

The BTO-a projects is the types, which has a demand risk among the type of PPP projects in Korea. When demand risk is realized, private investor encounters financial difficulties due to lower revenue than its expectation and the government may also have a problem in stable infrastructure operation. In this regards, the government has applied various risk sharing policies in response to demand risk. However, the amount of government's risk sharing is the government's contingent liabilities as a result of demand uncertainty, and it fails to be quantified by the conventional NPV method of expressing in the text of the concession agreement. The purpose of this study is to estimate the value of investment risk sharing by the government considering the demand risk in the profit sharing system (BTO-a) introduced in 2015 as one of the demand risk sharing policy. The investment risk sharing will take the form of options in finance. Private investors have the right to claim subsidies from the government when their revenue declines, while the government has the obligation to pay subsidies under certain conditions. In this study, we have established a methodology for estimating the value of investment risk sharing by using the Black - Scholes option pricing model and examined the appropriateness of the results through case studies. As a result of the analysis, the value of investment risk sharing is estimated to be 12 billion won, which is about 4% of the investment cost of the private investment. In other words, it can be seen that the government will invest 12 billion won in financial support by sharing the investment risk. The option value when assuming the traffic volume risk as a random variable from the case studies is derived as an average of 12.2 billion won and a standard deviation of 3.67 billion won. As a result of the cumulative distribution, the option value of the 90% probability interval will be determined within the range of 6.9 to 18.8 billion won. The method proposed in this study is expected to help government and private investors understand the better risk analysis and economic value of better for investment risk sharing under the uncertainty of future demand.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.13 no.6
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• pp.521-528
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• 1988

Into the telecommunications industry, which had been monopolistic, a few advanced countries introduced competition through 70's and 80's. And this trend is going on worldwide. The introduction of competition into the industry is made mainly in the long distance, international and enhanced market. This liberalisation results from the fundamental change of the cost function. Suggesting that the cost comprises of that of the facility sector and that of the operation sector there exists the economies of scale in the facility sector in general. The major ground for the monopolistic industrial structure in the past was the natural monopoly depending on the economies of scale. But the rapid advance of the technology by a large margin. This decrease has resulted in the change of the cost function. That is while there exists the economies of scale in the smaller production scale, the average cost increases beyond a certain scale. This means that the natural monopoly collapsed, and that the competitive structure is more efficient than the monopolistic structure. But, because there exists economies of scale in the smaller scale, the desirable number of players, which could result in efficient industry structure depends on the market size. Such correlation between technological level market size and the degree of regulation is found in the case of U.S.A., Japan and U.K., where deregulation policy of the telecommunications market has already been carried out. In U.S.A., which has the largest market and the highest technological level the degree of regulation is lowest. Also in the order of Japan and U.K. the regulation is severer. Japan and U.K. are likely to liberalize still more, as the technology advances and the market grows. This article is just the beginning of the research, and this hypothesis requires more detailed research.

• Journal of KIISE:Information Networking
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• v.29 no.3
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• pp.286-298
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• 2002

The Remote Procedure Call(RPC) has been traditionally used for Inter Process Communication(IPC) among precesses in distributed computing environment. As distributed applications have been complicated more and more, the Mobile Agent paradigm for IPC is emerged. Because there are some paradigms for IPC, researches to evaluate and compare the performance of each paradigm are issued recently. But the performance models used in the previous research did not reflect real distributed computing environment correctly, because they did not consider the evacuation elements for providing security services. Since real distributed environment is open, it is very vulnerable to a variety of attacks. In order to execute applications securely in distributed computing environment, security services which protect applications and information against the attacks must be considered. In this paper, we evaluate and compare the performance of the Remote Procedure Call with that of the Mobile Agent in IPC paradigms. We examine security services to execute applications securely, and propose new performance models considering those services. We design performance models, which describe information retrieval system through N database services, using Petri Net. We compare the performance of two paradigms by assigning numerical values to parameters and measuring the execution time of two paradigms. In this paper, the comparison of two performance models with security services for secure communication shows the results that the execution time of the Remote Procedure Call performance model is sharply increased because of many communications with the high cryptography mechanism between hosts, and that the execution time of the Mobile Agent model is gradually increased because the Mobile Agent paradigm can reduce the quantity of the communications between hosts.

• Korean journal of communication and information
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• v.46
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• pp.511-555
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• 2009

Media-related regulations can be classified into two categories; regulations of individual media contents and regulations regarding the entry to and withdrawal from a certain field. In this dissertation, ownership regulations are regarded as legal and political measures so as to prevent the monopoly and oligopoly of public opinion, and to secure its diversity. Every country has its own regulation model according to its particular media environment. Korea too is obliged to actively respond to its environmental changes, at the same time vitalizing the media industry and protecting consumers' rights and interests. Strong political intentions to protect the public interest is necessary when it comes to media regulation policies, especially in the circumstances that public interest is an industrial priority. As the convergence of broadcasting and telecommunications is leading to a major shift in the media industry, the regulation of cross-media ownership is an issue involving potential conflicts among media-owners, non-governmental organizations and the authorities concerned, depending on their various viewpoints regarding the media industry. In this paper, an attempt was made to search necessity of redefining 'public interest', which is the logic behind the restriction of cross-media ownership, and to reconceptualize issues on the centralization and diversity of media. First, an examination of the actual conditions of newspaper companies was carried out in order to reinvestigate domestic cross-media ownership issues, which is represented by the cross-ownership issue of newspapers and broadcasting stations. Next, the dilemma of policies stimulated by the fusion of media was discussed based on cross-media ownership restrictions, and the need for efficient conflict control was suggested. Finally, proposals on the independency and public confidence of media-related policy-making authorities, the rationalization of regulation models, an itemized discussion on cross-media ownership regulation issues, the elaboration of measures for a balanced development among media were made. It could be found that a number of foreign countries were still facing challenges to prevent monopoly and oligopoly of the public opinion and the industry. A solution to settle disagreements about the dilemma of the media industry, including the cross-media ownership regulation issues, must be arranged on the grounds of 'mutual respect of public interest and industrial interest', In Korea, an ease on the ownership regulations adapting to the change in the media industry may be considered, however the softening of the cross-media ownership regulations must be approached with the utmost care. Paradoxically Relieving cross-media ownership regulations may be considered the foundation of a richer field of journalism, where there is no need for concern over the monopoly and oligopoly of public opinion.

• The Journal of Bigdata
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• v.3 no.2
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• pp.87-99
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• 2018

This study analyze the factors affecting the number of bidders in public contracts by collecting contract data such as purchase of goods, service and facility construction through KONEPS among various forms of public contracts. The reason why the number of bidders is important in public contracts is that it can be a minimum criterion for judging whether to enter into a rational contract through fair competition and is closely related to the budget reduction of the ordering organization or the profitability of the bidders. The purpose of this study is to analyze the factors that determine the participation of bidders in public contracts and to present the problems and policy implications of bidders' participation in public contracts. This research distinguishes the existing sampling based research by analyzing and analyzing many contracts such as purchasing, service and facility construction of 4.35 million items in which 50,000 public institutions have been placed as national markets and 300,000 individual companies and corporations participated. As a research model, the number of announcement days, budget amount, contract method and winning bid is used as independent variables and the number of bidders is used as a dependent variable. Big data and multidimensional analysis techniques are used for survey analysis. The conclusions are as follows: First, the larger the budget amount of public works projects, the smaller the number of participants. Second, in the contract method, restricted competition has more participants than general competition. Third, the duration of bidding notice did not significantly affect the number of bidders. Fourth, in the winning bid method, the qualification examination bidding system has more bidders than the lowest bidding system.

• Asia Marketing Journal
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• v.13 no.1
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• pp.51-84
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• 2011

It seems essential to examine the factors that may affect relationship commitment of subcontractors to parent companies in the industrial market in Korea in an effort to construct a win-win-type cooperative network among them. Lots of studies have been focusing on the consumer goods market. Relatively few studies have been focused on industrial market. In the industrial goods market subcontractors used to sell their parts or services only to a small number of parent companies in a large quantity, resulting in decisive control of subcontractors over the quality of parent companies' finished goods. This is why relationship between subcontractors and parent companies is extremely important. From this viewpoint, this study aims to survey and analyze empirically the paths leading to relationship commitment of subcontractors toward the parent companies which are required to incite them to build up a collaborative network by means of subcontractors' entrepreneurship. For this aim, market orientation effects of entrepreneurship as well as factors of performance and trust are particularly set forth as the bases of developing hypotheses in this study in order to explore the paths from entrepreneurship to relationship commitment as follows. First, the path of entrepreneurship-market orientation-communication-trust- relationship commitment; second, the path of entrepreneurship-market orientation-performance-relationship commitment; third, the path of entrepreneurship-market orientation-transaction specific asset investment -trust-relationship commitment; and fourth, the path in which the entrepreneurship is expected to promote direct transaction specific asset investment by parent companies to induce their trust and, eventually, relationship commitment of subcontractors. The outcomes of the empirical analysis in this study may be summed up as follows: First, the conclusions of preceding studies are also supported here by the fact that the entrepreneurship of subcontractors promotes their market orientation (hypothesis 9), indicating that the entrepreneurship can facilitate collection, proliferation of and response to market informations. On the contrary, however, the assumption that the entrepreneurship of subcontractors might directly accelerate transaction specific asset investment by parent companies (hypothesis 8) is rejected. Second, although the influence of subcontractors' entrepreneurship on parent companies' investment of assets peculiar to their transactions is not affirmed, the assumption is found to be supported that subcontractors' market orientation would expedite the parent companies' investment of assets peculiar to their transactions. Moreover, it is also confirmed that parent companies' investment of assets peculiar to transactions would promote subcontractors' trust toward the parent companies (hypothesis 6), signifying that parent companies may level up their trust in subcontractors when they make great amount of efforts to invest in the assets peculiar to transactions, not behaving opportunistically, Third, the hypotheses 4 and 5 also turn out to be supported by the analysis as the former assumes that market orientation could promote communication and the latter relates that the communication between subcontractors and parent companies would prompt trust, both results in affirming that market orientation could introduce open communication to speed up sharing of information and that sharing of information by way of communication might give an impetus to trust. Fourth, the assumption that subcontractors' market orientation would expedite performance (hypothesis 3) is also proved favorably to the significant level equivalent to that of preceding studies. Fifth, same as preceding studies, it is also verified in this study that the benefit (outcomes) awarded by parent companies to subcontractors will be a direct cause exercising a positive impact upon relationship commitment(hypothesis 2) and that the trust of subcontractors toward parent companies may have affirmative influence on the relationship commitment(hypothesis 1). Overall, the first, second and third paths are identified as being supported by the hypotheses among constituent factors, while the fourth path is deemed meaningless since it is shown that the entrepreneurship exercises no effects on parent companies' investment in the assets peculiar to transactions.

• Journal of the Korean Institute of Landscape Architecture
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• v.51 no.5
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• pp.13-29
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• 2023

Urban parks are social infrastructure supporting citizens' health, quality of life, and community formation. As the proportion of urban parks that have been established for more than 20 years is increasing, the need for refurbishment to improve the physical space environment and enhance the functions of aging urban parks is increasing. Since the government's refurbishment of aging urban parks has limitations in securing financial resources and promoting attractiveness, they must be promoted through public-private partnerships. Japan, which suffered from the problem of aging urban parks, has successfully promoted several park refurbishment projects by introducing the Park-PFI through the revision of the 「Urban Park Act」 in 2017. This study examines and analyzes the characteristics of the Japan Park-PFI as an alternative to improving the quality of aging domestic urban park services through public-private partnerships and the validity of the aging urban park refurbishment projects through Park-PFI. The main findings are as follows. First, it is necessary to start discussions on introducing Japan's Park-PFI according to the domestic conditions as a means of public-private partnership to improve the service quality and diversify the functions of aging urban parks. In order to introduce Park-PFI social discussions and follow-up studies on the deterioration of urban parks. Must be conducted. The installation of private capital and profit facilities and improvements of related regulations, such as the 「Parks and Green Spaces Act」 and the 「Public Property Act」, is required. Second, it is judged that the Park-PFI project is a policy alternative that can enhance the benefits to citizens, local governments, and private operators under the premise that the need to refurbish aging urban parks is high and the location is suitable for promoting the project. As a result of a pilot application of the Park-PFI project to Seyeong Park, an aging urban park located in Bupyeong-gu, Incheon, it was analyzed to be profitable in terms of the profitability index (PI), net present value (FNPV), and internal rate of return (FIRR). It is considered possible to participate in the business sector. At the local government level, private capital is used to improve the physical space environment of aging urban parks, as well as the refurbishment of the urban parks by utilizing financial resources generated by returning a portion of the facility usage fees and profits (0.5% of annual sales) of private operators. It was found that management budgets could be secured.

• Journal of Radiation Protection and Research
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• v.33 no.4
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• pp.151-160
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• 2008

In Korean nuclear power plants (NPPs), two thermoluminescent dosimeters (TLD) were provided to workers who work in an inhomogeneous radiation field; one on the chest and the other on the head. In this way, the effective dose for radiation workers at NPPs was determined by the high deep dose between two radiation dose from these TLDs. This represented a conservative method of evaluating the degree of exposure to radiation. In this study, to prevent the overestimation of the effective dose, field application experiments were implemented using two-dosimeter algorithms developed by several international institutes for the selection of an optimal algorithm. The algorithms used by the Canadian Ontario Power Generation (OPG) and American ANSI HPS N13.41, NCRP (55/50), NCRP (70/30), EPRI (NRC), Lakslumanan, and Kim (Texas A&M University) were extensively analyzed as two-dosimeter algorithms. In particular, three additional TLDs were provided to radiation workers who wore them on the head, chest, and back during maintenance periods, and the measured value were analyzed. The results found no significant differences among the calculated effective doses, apart from Lakshmanan's algorithm. Thus, this paper recommends the NCRP(55/50) algorithm as an optimal two-dosimeter algorithm in consideration of the solid technical background of NCRP and the convenience of radiation works. In addition, it was determined that a two-dosimeter is provided to a single task which is expected to produce a dose rate of more than 1 mSv/hr, a difference of dose rates depending on specific parts of the body of more than 30%, and an exposure dose of more than 2 mSv.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.7 no.3
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• pp.62-73
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• 2008

In this paper, domestic standard revision plan of dynamic frequency method which is used both in unmanned automatic toll collection system and manned collection system of the express highway is presented. For such ETCS, the infrared rays (870 nm) of active frequency method and the frequency integrated method (5.8 GHz) are adopted and extended to be operated to the all around the Toll Gate. This standardization plan is based on inter connection reference model between OSI (Open System Interconnection) in process of ITS short range radio communication standardization of 5.8 GHz bandwidth to support traffic information and control system service, and the derived revision plan by starting from physical layer which support interoperability for multiple access between RSE (Road Side Equipment) and OBE (On Board Equipment), in which is categorized into physical layer, data link layer, and application layer. In case of radiation power, existing standard is divided by class1 (within 10 m) and Class2 (within 100 m) according to transmission lengthwhile it is operated with just single standard 'Class1' because of notification of Ministry of Information and Communication in 2004. In the case of the limitation value of incident power in communication area, considering operation plan of ETCS that is on actuality operation the measurements are reflected to the standard. In other wort this paper proposed the improvement standard of incident power, pseudo response in the communication area and radiated power in order to secure stability and compatibility among operator systems about the needed part on ETCS operation.

• Journal of Distribution Research
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• v.14 no.2
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• pp.31-66
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• 2009

This study investigates the effects of supervisors' leadership style on franchisees' trust and commitment in a franchise system. We classified leadership into two styles - transformational leadership vs. transactional leadership, and it was hypothesized and tested that these two leadership styles have differential effects on trust and two different types of commitment - calculative commitment vs. affective commitment. A questionnaire survey was conducted to collect the data and a total number of 184 Korean franchisees in diverse industries participated to the survey. Using a structural equation modeling, we confirmed some differential effects of the two leadership styles. Transformational leadership was found to have positive effects on franchisees' trust in and affective commitment to the franchisor, while it has no effects on calculative commitment. On the other hand, transactional leadership was positively related to calculative commitment to the franchisor. But it had no effects on trust and affective commitment. Meanwhile, we also found that trust positively affects on both types of commitment. The results of this study suggest that the quality of franchisor-franchisee relationships can be improved by supervisor's strong leadership, especially by transformational leadership, and that transformational leadership, when compared to transactional leadership, is more important for developing a long-term and stable franchisor-franchisee relationship.