• Tunnel and Underground Space
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• v.28 no.1
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• pp.97-110
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• 2018

The application of sprayed waterproofing membrane with high adhesion and ductility is considered to be promising as a measure for repair and reinforcement of a tunnel structure. Therefore, a powder-type and one-component membrane prototype with high tensile and bond strengths was made in this study. Then, its reinforcement effect on a shield segment was evaluated by carrying out a series of full-scale loading tests of segment specimens on which the membrane was sprayed. From the tests, it was confirmed that the initial cracking loads increased by approximately 34% due to cracking retardation by membrane coating. Even though the increase of failure loads were not so high as cracking loads, the strain-softening behaviors were observed from specimens coated by the membrane. Therefore, it is expected that the membrane coated on the inner surface of a lining might be effective in preventing its brittle failure.

• Journal of the Korean Society for Railway
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• v.17 no.4
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• pp.251-259
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• 2014

The transition zone between an earthwork and a bridge effect to the vehicle's running stability because support stiffness of the roadbed is suddenly changed. The design criteria for the transition structure on ballast track were not particular in the past. However with the introduction of concrete track is introduced, it requires there is a higher performance level required because of maintenance and running stability. In this present paper, a transition structure reinforced with geosynthetics is suggested to improve the performance of existing bridge-earthwork transition structures. The suggested transition structure, in which there is reinforcing of the approach block using high-tension geosynthetics, has a structure similar to that of earth reinforced abutments. The utilized backfill materials are cement treated soil and gravel. These materials are used to reduce water intrusion into the approach block and to increase the recycling of surplus earth materials. An experiment was performed under the same conditions in order to allow a comparison of this new structure with the existing transition structure. Evaluation items are elastic displacement, cumulative settlement, and earth pressure. As for the results of the real-scale accelerated testing, the suggested transition structure has excellent performance for the reduction of earth pressure and settlement. Above all, it has high resistance the variation of the water content.

• Journal of Korea Port Economic Association
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• v.28 no.3
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• pp.235-257
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• 2012

Recently the role of ports has been changed to satisfy flexibly needs of demands in global economy. A new concept for ports is not just a place for international trade but an important nodal point in logistics chain. The changing environment like this trend creates a high degree of uncertainty and leaves port managers confused with the question how to respond effectively to dynamic market. The latest studies provide that the port must have a good hinterland to achieve competitive advantages in a logistics chain. Korean Government announced "The Master Development Plan for Port Logistics Parks in Korea" in 2006. This contains the plan of hinterland construction of Busan New Port to achieve the status of logistics hub in Asian market. Previous studies rely solely on traditional DCF(discounted cash flow) analysis for investment of hinterland. However DCF method does not include irreversibility, uncertainty and the choice of timing for investment project. This thesis introduces a ROPM(real options pricing model) which overcomes the limitations of traditional valuation methods. The option valuations in this study utilize the Black-Scholes model, the binomial model and the MonteCarlo simulation to value investment opportunity of a port hinterland. In this thesis, an attempt is made to modify the NPV criterion by incorporating the real options approach, and its application is demonstrated in a hinterland construction investment plan. This research has conducted an empirical analysis by calculating economic value of the investment for a hinterland of Busan New Port.

• Journal of Korea Port Economic Association
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• v.38 no.2
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• pp.95-107
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• 2022

Shipping companies earn profits through cargo transportation, and therefore, investment decisions to purchase ships are more important than anything else. Nevertheless, the cash flow discount method was mainly used in the economic analysis method, which assumes that all situations are static. This study shows that the real option model is useful in the economic analysis of ship investment. This economic analysis took into account the irreversibility of investment and uncertainty of benefits. In particular, this study used a binary option price determination model among real options. In addition, the simulation was conducted using actual investment data of A shipping company. As a result of the analysis, the investment value of used ships according to the net present value method was analyzed as negative (-), but the investment value in the real option model reflecting the flexibility of decision-making was evaluated as having positive (+) economic feasibility. It was analyzed that economic feasibility is affected by profit volatility and discount rate. Therefore, this study is expected to help shipping companies make more flexible decisions by using the real option model along with the existing net present value method when making ship investment decisions.

• Journal of the Korean Society of Costume
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• v.17
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• pp.45-56
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• 1991

• Journal of the Korean Society of Costume
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• v.2
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• pp.1-8
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• 1978

• Proceedings of the Korea Technology Innovation Society Conference
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• 2002.05a
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• pp.21-30
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• 2002

• Proceedings of the Korea Technology Innovation Society Conference
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• 2001.11a
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• pp.223-237
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• 2001

• The Science & Technology
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• no.12 s.427
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• pp.42-44
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• 2004

• KDI Journal of Economic Policy
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• v.5 no.1
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• pp.75-91
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• 1983