• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.191-212
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• 1992

This paper discusses the role of money in the process of capital accumulation where financial markets are impeded by contract enforcement problems in the context of overlapping generations framework. In particular, in less developed countries (LDCs) creditors may know little about the repayment capability of potential debtors due to incomplete information so that financial instruments other than money may not acceptable to them. In this paper the impediments to the operation of the private finanical markets are explicitly modelled. We argue that creditors cannot observe actual investment decisions made by the potential borrowers, and as a result, loan contracts may not be fully enforceable. Therefore, a laissez-faire regime may fail to provide the economy with the appropriate financial instruments. Under these circumstances, we introduce a government operated discount window (DW) that acts as an open market buyer of private debt. This theoretical structure represents the practice of governments of many LDCs to provide loans (typically at subsidized interest rates) to preferred borrowers either directly or indirectly through the commercial banking system. It is shown that the DW can substantially overcome impediments to trade which are caused by the credit market failure. An appropriate supply of the DW loan enables producers to purchase the resources they cannot obtain through direct transactions in the credit market. This result obtains even if the DW is subject to the same enforcement constraint that is responsible for the market failure. Thus, the DW intervention implies higher investment and output. However, the operation of the DW may cause inflation. Furthermore, the provision of cheap loans through the DW results in a worse income distribution. Therefore, there is room for welfare enhancing schemes that utilize the higher output to develop. We demonstrate that adequate lump sum taxes-cum-transfers along with the operation of the DW can support an allocation that is Pareto superior to the laissez-faire equilibrium allocation.

• Journal of Technology Innovation
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• v.26 no.2
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• pp.95-128
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• 2018

Since mid and late 2000s, the smartphones has been widely diffused and Korea ranked first in global smartphone market in 2011 thanks to its rapid adoption of Android operating system, technology capability accumulated in featurephone development, vertical integration on smartphone production and premium positioning. However, Korea fell behind because of the rise of another latecomer, China, in four years (2015) after it recorded the top position globally. How did the leadership change occurred in the smartphone industry so rapidly? In order to answer the question, we investigated three favorable windows of opportunity for the rise of China, which are technological, demand, and institutional, and the strategic responses of Chinese firms as well as the rigidity and complacency with the past success of Korean firms. Our findings contribute to the extension of 'catch-up cycle' theory as well as provide in-depth insights for strategies and policies settings to overcome the recent rise of China in information and communication technology sector for Korea.

• Journal of Technology Innovation
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• v.26 no.2
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• pp.37-68
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• 2018

This study examines the effects of entrepreneurial orientation and external oriented organizational culture on the firm perfornamance focusing on mediating effects of open innovation. The survey was conducted on Korean manufacturing firms with 100-5,000 employees among listed companies and external auditing companies. The validity of the research model and hypotheses was verified through analysis of structural equation model for 283 valid responses. Empirical results show that entrepreneurial orientation positively affects both open innovation and firm's performance. The external oriented organizational culture of firms appears to be positive effects on open innovation, but the effect between the external oriented organizational culture and firm's performance shows no statistical significance. Open innovation have positive effects on firm performance. In addition, a test for mediation effects of open innovation reveals that a full mediation exists between the external oriented organizational culture and firm's performance, while there is a partial mediation effect between entrepreneurial orientation and firm's performance. This study contribute to the literature by deepening understanding on the open innovation. We propose an integrated model for examining antecedent factors, open innovation and performance.

• Journal of the military operations research society of Korea
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• v.36 no.1
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• pp.77-90
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• 2010

Adapting commercial equipments to military operations may provide the advantage of low cost, reduced acquisition time, and technology advancement. On the other hand, it may also offer the opportunity for a reliability and logistics risk because commercial products, standards, and practices may not meet military requirements. In addition to this, commercial vendors have little experience in providing the technical data required to support military deployment logistics. As more companies are equipped with data aquisition systems for their products, considerable amount of field warranty data has been accumulated. Typically, the field data for a given product comprise with the sales volume and the number of the claims for each period. Three types of product data are considered in this study: military designed equipment operating in a military environment, commercial equipment operating in a military environment, and commercial equipment operating in a commercial environment. We construct a estimation model for each type of data and propose an reliability transform method from a commercial environment to a military environment. Parametric methods for estimating the product reliability are proposed based on maximum likelihood criteria and least square criteria. Then a reliability transform procedure for handling different types of data is proposed in a consistent fashion. A case study is investigated to characterize our model based on a real field warranty data set.

• Proceedings of the Korean Radioactive Waste Society Conference
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• 2004.06a
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• pp.223-224
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• 2004

고준위폐기물 혹은 사용후 핵연료의 처분용기 재질은 각 국의 처분개념과 처분공의 주위 환경에 따라 달라질 수 있다. 용기의 후보재질로는 탄소강, 스텐레스 강, 구리, 니켈, 티탄 혹은 이들의 합금이 주로 고려되고 있으나, 국내에서는 아직 선정되지 않았다. 국내 처분환경에서 이들 재질의 부식특성을 조사하고자 모의 화강암 지하수를 가해 만든 겔 상태의 경주 벤토나이트에 탄소강, 스텐레스 강, 구리 시편을 넣고, $70^{\circ}C$, 아르곤 분위기에서 530일 경과한 후 시편의 표면 변화 (그림 1) 및 무게 감소를 측정하였다. 철 부식시편은 검정색의 철 화합물 층으로 덮여 있었으며, 구리표면에는 노란색의 부식층이 형성되었는데, 이를 XRD로 분석한 결과 $Cu_2O$로 판명되었다. 그러나 $700^{\circ}C$에서 각각 0, 24, 96시간동안 예민화시킨 스텐레스 강 시편들은 모두 초기상태 그대로 광택을 유지하고 있었으며, XRD에서 다른 화합물의 형성을 발견할 수 없었다 (그림 2). 시편의 무게 감소가 균일부식에 기인한 것으로 가정하여 환산한 결과, 구리와 스텐레스 강 모두 0.3~0.4 $\mu\textrm{m}/yr$의 부식속도를 나타내었다. 그러나 구리는 부식생성물이 표면에 부착되어 있기 때문에 실제 부식두께는 이 값보다 더 클 것으로 생각된다. 용기가 초기 530일간과 같은 속도로 처분용기의 부식이 진행된다면 한국에서 기준처분 개념으로 삼고 있는 50mm 두께의 내부식성 외벽 금속용기는 적어도 만년이상 견딜 수 있을 것으로 추정된다. 한편, 검정색 부식층을 제거한 무게감소로부터 계산한 철의 부식속도는 구리의 약 30배에 해당하였다. 금속 재질의 정확한 부식 거동을 파악하기 위해서는 보다 장기간의 실험이 요구된다. 시험법 선정에 각계(규제기관, 학계, 발전소 현장 및 산업계 등) 전문가로부터 기술자문회의를 통하여 자문 의견을 받기로 하였다. 특히 현재 폐기물 인수 기술기준치가 설정된 국가의 시험법을 심층 있게 검토하기로 하였다.검토하기로 하였다. 혹은 수성주변 환경이 지배하는 산악이나 구릉지에서 흔히 나타나는 침엽수-낙엽활엽수의 혼합림 식생상태를 잘 대변해 주고 있는 것으로 판단된다. 끝으로, 의림지 호저 퇴적층 중에서 인위적인 교란흔적이 없는 암회색 유기질 니층에 대한 탄소연대측정 결과, 제1호공 12번 시료에서 950$\pm$40 years B.P을 얻었으며, 제3-1호공에서도 아래로 내려가면서 8, 10, 11번 시료에 대하여 500$\pm$30 years B.P, 650$\pm$30 years B.P, 800$\pm$40 years B.P의 연대측정 결과를 획득하였다. 이상과 같은 의림지 호저 퇴적층의 형성환경과 형성시기 연구를 통하여 의림지의 제방축조의 최초시기를 해석해 보면, 의림지의 제방은 적어도 과거 약 827년 전에서 866년 전에는 이미 축조되어 있었음을 알 수 있다. 과거 제천 일대에 살았던 옛사람들이 의림지 하류의 곡지중앙과 고기 충적선상지에 대한 관계용 용수조달의 필요성에 부응하여 상류부 곡지하천의 자연입지 환경을 최대한 이용하여 축조한 것으로 판단된다..준비하였다.전류를 구성하는 주요 입자의 에너지 영역(75~l13keV)에서 가장 높은(0.80) 상관계수를 기록했다. 넷째, 회복기 중에 일어나는 입자들의 유입은 자기폭풍의 지속시간을 연장시키는 경향을 보이며 큰 자기폭풍일수록 현저했다. 주상에서 관측된 이러한 특성은 서브스톰 확장기 활동이 자기폭풍의 발달과 밀접한 관계가 있음을 시사한다.se that were all low

• Journal of the Korea Institute of Building Construction
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• v.19 no.6
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• pp.477-484
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• 2019

The purpose of this study is to present basic data for developing concrete with EMP shielding as the structure materials when constructing an EMP shielded building structure. In order to use metal-based recycled aggregates with excellent conductivity and easy procurement for EMP shielding concrete, an evaluation of the stability evaluation and EMP shielding performance was performed. Through the stability evaluation, it was found that the coarse aggregate stability criterion was satisfied, but the oxidized slag did not satisfy the fine aggregate stability criterion, the oxidized slag is not satisfied. In addition, as a result of fresh concrete, the workability is increased and the air volume is decreased. The compressive strength is increased due to the high density and coarse granularity of the recycled aggregates, which increased the cement paste and adhesion, thereby increasing the compressive strength. The results of an EMP shielding test show that aggregates with high shielding performance are electronic arc furnace(EAF) Oxidizing Slag and Cooper Slag. The shielding performance is expected to increase if the average particle size of aggregate is small or uniformly distributed.

• Korean Journal of Construction Engineering and Management
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• v.16 no.4
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• pp.89-97
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• 2015

This paper analyzes the duration of the construction document (CD) phase of 42 large public building projects delivered by the total solution service of Public Procurement Services in Korea from 2009 to 2014. The quality of construction documents significantly affects the quality of construction and facility management. Thus, securing appropriate time for the CD phase during project planning is important for the quality of a project. Currently, the duration of the CD phase is planned based on the construction costs of a project following a notice of the Ministry of Land, Infrastructure and Transport. However, our analysis results showed that the correlation between the actual duration of the CD phase and construction costs is very weak. The actual CD phase takes 1.33-1.79 times longer than the planned duration. The practitioners who were interviewed, were already aware that the correlation between the duration of the CD phase and the construction costs is weak. They identified the complexity of the project, the extent of the design changes, project type, client characteristics, and others as more influential factors on the CD phase than the construction costs. To improve the quality of CDs, a new guideline for determining an adequate CD phase duration should be studied and developed.

• Korean Journal of Construction Engineering and Management
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• v.17 no.3
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• pp.61-70
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• 2016

Construction enterprises have performed various projects such as buildings, infrastructure and plant projects in the international market. Among these, the plant project's amount of orders accounted for about 68.9% of all. However, because of the enterprises won a contract with a low-budget for plant project in the last 10 years, the profit has dropped dramatically. And it is forecasted that there are extreme competition for bid award of plant projects because of the current falling oil prices and raising interest rates. In this circumstance, the comprehending of enterprises strength and weakness must be a priority to get a sustainable competitive advantage. Therefore this research suggests the enterprises's capability assessment framework and it is in order to diagnose the korean construction enterprises capabilities. The framework is based on the VRIO model that is on the basis of resource based theory. First, the capability assessment indices and their importance and priority that based on the life-cycle of plant project is deducted by literature review and survey. Second, the 5 point likert score applied VRIO survey is conducted to diagnose the enterprises and quantified the survey result using the fuzzy theory. Lastly, the competitvie implication and capability assessment are deducted.

• Korean Journal of Construction Engineering and Management
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• v.17 no.2
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• pp.21-30
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• 2016

The current PF project is entirely relying on construction company's credibility. As such, it has increased a negative and bad recognition in domestic real estate economy. In addition, PF experts has a perception that a project's safety of future cash flow profitability is more important than the construction company's credibility. So many PF experts make an effort in order to set aside safe project structure of PF and analyse systematically the risks of the project. In common feasibility study of the PF Project, financial specialists and real estate specialists are forecasting and evaluating the suitability of the project through reviewing the development profit from the project of sales. However, cash flow analysis and evaluation from the perspective of mid-sized construction companies are still in the primary level. Therefore, this study has analysed the current feasibility study and go/no go decision making procedures. Then the authors have a new cash flow analysis method from the perspective of mid-sized construction companies, by improving the feasibility study and go/no go decision making procedures.

• Korean Journal of Construction Engineering and Management
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• v.13 no.3
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• pp.14-24
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• 2012

Recently, a delivery system has been rapidly changed in the global construction market. Also, construction projects are becoming bigger and more technology-intensive. A lot of projects have been delivered by Design-Build(DB) System; from the standpoint of cost, approximately 40% of delivered constructions by a Public Procurement Service were DB in 2009. Nevertheless, the achievement has not surpassed our expectations on management of the project cost. On the characteristic of DB, the reasons why that happens are that projects contract have been signed after the Design Development Stage; the insufficient review about new technology and up-to-date construction methods; a lack of discussion in process of design. Those reasons cause a risk of increasing Cost of the projects. In order to solve these problems, it is desirable to find Cost-increasing factors in promoting the projects and select on the order of priority for Risk-Factor with careful management. Therefore, this study analyzed the weight of each phase of the project on the authority of properties of DB project, and identified Risk-factors which is increasing the cost on the aspect of project management. Based on this analysis, the impact assessment of Risk-factor is evaluated through the Failure Mode and Effect Analysis(FMEA).