• Communications for Statistical Applications and Methods
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• v.27 no.5
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• pp.579-588
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• 2020

Obligor defaults are cross-sectionally correlated as obligors share common economic conditions; in addition obligors are longitudinally correlated so that an economic shock like the IMF crisis in 1998 lasts for a period of time. A longitudinal correlation should be used to construct statistical scenarios of stress test with which we replace a type of artificial scenario that the banks have used. We propose a Bayesian model to accommodate such correlation structures. Using 402 obligors to a domestic bank in Korea, our model with a dynamic correlation is compared to a Bayesian model with a stationary longitudinal correlation and the classical logistic regression model. Our model generates statistical financial statement under a stress situation on individual obligor basis so that the genearted financial statement produces a similar distribution of credit grades to when the IMF crisis occurred and complies with Basel IV (Basel Committee on Banking Supervision, 2017) requirement that the credit grades under a stress situation are not sensitive to the business cycle.

• Korean Management Science Review
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• v.10 no.2
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• pp.187-212
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• 1993

The purpose of this study is to deal with a forecast of probable failures facing up to the existing Korean universities and colleges in the early 21st century and with how each institution should cope with the situation before the failures actually take place. The methods used in this research are Scenario analysis, Factor and Cluster analyses in order to find out major factors having influence upon the operation and management of these universities and colleges. It's turned out that every institution is different from others and in fact unique in its make-up and so each will have different ways to deal with the impending failures and the crisis management problems strategically.

• The Journal of Engineering Geology
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• v.28 no.2
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• pp.267-276
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• 2018

Volcanic ash from volcanic eruptions spreads to vast areas hundreds of kilometers away, and when volcanic ash flows into surface waters, it will be damaged by water supply. In case of water supply facilities, it provides to people drinking water and domestic water, be consumed by the people cause social disorder when water supply is cut off due to damage such as water pollution caused by harmful materials of volcanic ash. However, when we looked at the disaster management manual, the establishment of a water supply facility manual to deal with the damage of volcanic ash was found to be insufficient. Therefore, in this study, the existing volcanic and water pollution related manuals were analyzed and problems were derived. In order to make quick situation judgment and response activities, we have suggested the scope of the water supply facility manual, disaster type, major missions and system of related organizations, and scenario of crisis situation by disaster type.

• Journal of Daesoon Thought and the Religions of East Asia
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• v.3 no.2
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• pp.71-92
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• 2024

The world we live in is becoming more convenient thanks to the inventions of science and technology. Still, the world is also becoming more and more unpredictable with the current situation of VUCA (Volatility, Uncertainty, Complexity, Ambiguity). The Covid-19 pandemic brought the biggest global disaster ever with 774,631,444 infected people and 7,031,216 deaths (WHO on February 11, 2024) but it seems that humanity is gradually forgetting this disaster. Meanwhile the economic stimulus packages worth trillions of dollars from governments after the pandemic have further caused the world debt bubble to swell. The bubble burst scenario is something that many economic experts fear. Apparently, in the transitional period of the early decades of the 21st century, the world's economic, cultural, political, social, natural, and environmental aspects have undergone profound transformations: from the real estate and finance crises in the United States since 2008; through the melting of the Arctic ice over the past several decades; to the double disaster of the earthquake and tsunami in Japan in 2011. Especially, in the context of the world economic crisis after the COVID-19 pandemic, the human achievements of the past thousands of years are in jeopardy of being wiped out in an instant. Many people are predicting a bad scenario for a chain collapse. Facing the signals of an imminent economic catastrophe based on the appearance of "the Gray Rhino, Black Swan and White Elephant," many drawn in by Eschatological thought declare that Doomsday will occur shortly. This is the time for many other people to hope for the incoming Messiah. The Messiah is said to appear when people feel despair or suffer a great disaster because faith in the Savior can help them overcome adversity mentally. This research will find out how adherents of Buddhism view and deal with civilizational crises by examining history via symbols associated with Maitreya as based upon the Buddhist Messiah, Maitreya.

• Journal of Wetlands Research
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• v.13 no.1
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• pp.1-11
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• 2011

A chronic drought stress has been imposed during non-rainy season(from winter to spring) since 1990s. We faced the most significant water crisis in 2001, and the drought was characterized by sultry weather and severe drought on a national scale. It has been widely acknowledged that the drought related damage is 2-3 times serious than floods. In the list of the world's largest natural disaster compiled by NOAA, 4 of the top 5 disasters are droughts. And according to the analysis from the NDMC report, the drought has the highest annual average damage among all the disasters. There was a very serious impact on the economic such as rising consumer price during the 2001 spring drought in Korea. There has been flood prevention measures implemented at national-level but for mitigation of droughts, there are only plans aimed at emergency (short-term) restoration rather than the comprehensive preventive measures. In addition, there is a lack of a clear set of indicators to express drought situation objectively, and therefore it is important and urgent to begin a systematic study. In this study, a nonstationary downscaling model using RCM based climate change scenario was first applied to simulate precipitation, and the simulated precipitation data was used to derive Standardized Precipitation Index (SPI). The SPI under climate change was used to evaluate the spatio-temporal variability of drought through principal component analysis at three different time scales which are 2015, 2045 and 2075. It was found that spatio-temporal variability is likely to modulate with climate change.