• Title/Summary/Keyword: Financial Safety

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How to Reflect Sustainable Development, exemplified by the Equator Principles, in Overseas Investment (해외투자(海外投資)와 지속가능발전 원칙 - 프로젝트 파이낸스의 적도원칙(赤道原則)을 중심으로 -)

  • Park, Whon-Il
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.31
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    • pp.27-56
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    • 2006
  • Today's financial institutions usually take environmental issues seriously into consideration as they could not evade lender liability in an increasing number of cases. On the international scene, a brand-new concept of the "Equator Principles" in the New Millenium has driven more and more international banks to adopt these Principles in project financing. Sustainable development has been a key word in understanding new trends of the governments, financial institutions, corporations and civic groups in the 21st century. The Equator Principles are a set of voluntary environmental and social guidelines for sustainable finance. These Principles commit bank officers to avoid financial support to projects that fail to meet these guidelines. The Principles were conceived in 2002 on an initiative of the International Finance Corporation(IFC), and launched in June 2003. Since then, dozens of major banks, accounting for up to 80 percent of project loan market, have adopted the Principles. Accordingly, the Principles have become the de facto standard for all banks and investors on how to deal with potential social and environmental issues of projects to be financed. Compliance with the Equator Principles facilitates for endorsing banks to participate in the syndicated loan and help them to manage the risks associated with large-scale projects. The Equator Principles call for financial institutions to provide loans to projects under the following circumstances: - The risk of the project is categorized in accordance with internal guidelines based upon the environmental and social screening criteria of the IFC. - For Category A and B projects, borrowers or sponsors are required to conduct a Social and Environmental Assessment, the preparation of which must meet certain requirements and satisfactorily address key social and environmental issues. - The Social and Environmental Assessment report should address baseline social and environmental conditions, requirements under host country laws and regulations, sustainable development, and, as appropriate, IFC's Environmental, Health and Safety Guidelines, etc. - Based on the Social and Environmental Assessment, Equator banks then make agreements with borrowers on how they mitigate, monitor and manage the risks through a Social and Environmental Management System. Compliance with the plan is included in the covenant clause of loan agreements. If the borrower doesn't comply with the agreed terms, the bank will take corrective actions. The Equator Principles are not a mere declaration of cautious banks but a full commitment of lenders. A violation of the Principles in the process of project financing, which led to an unexpected damage to the affected community, would not give rise to any specific legal remedies other than ordinary lawsuits. So it is more effective for banks to ensure consistent implementation of the Principles and to have them take responsible measures to solve social and environmental issues. Public interests have recently mounted up with respect to environmental issues on the occasion of the Supreme Court's decision (2006Du330) on the fiercely debated reclamation project at Saemangeum. The majority Justices said that the expected environmental damages like probable pollution of water and soil were not believed so serious and that the Administration should continue to implement the project seeking ways to make it more environment friendly. In this case, though the Category A Saemangeum Project was carried out by a government agency, the Supreme Court behaved itself as a signal giver to approve or stop the environment-related project like an Equator bank in project financing. At present, there is no Equator bank in Korea in contrast to three big banks in Japan. Also Korean contractors, which are aggressively bidding for Category A-type projects in South East Asia and Mideast, might find themselves in a disadvantageous position because they are generally ignorant of the environmental assessment associated with project financing. In this regard, Korean banks and overseas project contractors should care for the revised Equator Principles and the latest developments in project financing more seriously. It's because its scope has expanded to the capital cost of US$10 million or more across all industry sectors regardless of developing countries or not. It should be noted that, for a Korean bank, being an Equator bank is more or less burdensome in a short-term period, but it must be conducive to minimizing risks and building up good reputation in the long run.

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Actual Conditions and Perception of Safety Accidents by School Foodservice Employees in Chungbuk (충북지역 학교급식 조리종사원의 안전사고 실태 및 인식)

  • Cho, Hyun A;Lee, Young Eun;Park, Eun Hye
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.43 no.10
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    • pp.1594-1606
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    • 2014
  • The purpose of this study was to examine safety accidents related to school foodservice, working and operating environments of school foodservice, status and awareness of safety education, educational needs, and information on qualitative improvement of school foodservice. The subjects in this study were 234 cooks in charge of cooking at elementary and secondary schools in Chungbuk. A survey was conducted from July 30 to August 8, 2012, and among 202 questionnaires gathered, 194 completed questionnaires were analyzed. Statistical analyses were performed on data utilizing the SPSS version 19.0. The main results of this study were as follows: 44.3% of workers experienced safety accidents. The most frequent safety accident was 'once' (60.5%), and most safety accidents took place between June and August (31.4%). The time at which most safety accidents happened was between 8 and 11 am. Most safety accidents happened during cooking (52.3%) and while using a soup pot or frying pot (52.4%). The most common accidents were 'burns', 'wrist and arm pain', and 'slips and falls'. Respondents who experienced safety accidents replied that 57.6% of employees dealt with injuries at their own expense, and only 35.3% utilized industrial accident insurance. In terms of the operating environment, the score for 'offering information and application' was highest (3.76 points), whereas that for 'security of budget' was lowest (1.77 points). As for accident education, employees received safety education approximately 3.45 times and 5.10 hours per year. Improving the working environment of school foodservice cooks requires administrative and financial support. Furthermore, educational materials and guidelines based on the working environment and safety accident status of school foodservice cooks are required in order to minimize potential risk factors and control safety accidents in school foodservice.

Comparative Study on the Aviation Monetary Penalty in Korea and the United States (한·미 항공 과징금 제도의 비교)

  • Lee, Chang-Jae
    • The Korean Journal of Air & Space Law and Policy
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    • v.35 no.2
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    • pp.41-74
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    • 2020
  • The monetary penalties system inherently has efficiency as DNA. In the event that administrative measures to recover unfair profits from businesses that violate the law, deprive business licenses, or order to suspend business, infringe the interests of ordinary consumers, a system that can achieve the same effect through financial sanctions. It is a monetary penalties. In addition, it is convenient for the government because it takes effect only by the administrative agency's unilateral imposition order compared to the trial process, which takes a long time and huge cost to prove the illegality. However, it is questionable whether procedural legitimacy is well established in Korea's aviation monetary penalties. Compared to foreign legislation, Korea's aviation monetary penalties system need to be improved. This paper was for the purpose of studying the improvement direction of the monetary penalties system disposed of in the Korean aviation field. This study suggests the direction by examining the US system, which is an aviation advanced country, in the aviation safety area. The research was conducted with the intention of exploring the direction as follows: First, the characteristics of the Federal Aviation Administration (FAA) aviation administrative sanctions and the US aviation penalty system will be outlined. Furthermore, with the recent paradigm shift in aviation safety management, this paper tried to look at new trends that focus on autonomous reporting of aviation safety as a proactive and preventive measure in conventional post-airline accident management administration, focusing on various systems including ASAP. This article also reviewed the formal process for imposing monetary penalties adopted by the FAA. Based on the above review, this paper also looked at ways to improve the reporting system for aviation safety in Korea.

A Study on Efficiency of Safety in Urban Railway perating-Organization using Data Envelopment Analysis (DEA기법을 이용한 도시철도 운영기관의 안전 효율성에 관한 연구)

  • Roh, Sun-Hwa;Kook, Kwang-Ho
    • Proceedings of the KSR Conference
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    • 2011.05a
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    • pp.1262-1274
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    • 2011
  • Urban railway started its operation in August 15, 1978 in Korea. Nowadays, it is being operated in Seoul, Busan, Incheon, Deagu, GwangJu, and Daejeon, and it is playing a major role in mass transportation. Urban railways can provide rapid and convenient transportation to citizens in eco-friendly and energy saving way. However, urban railway operating organizations have been in financially difficult conditions due to the enormous debts borrowed for the construction of railways. Urban railway operating organizations are under pressure to improve its difficult financial conditions through the efficient management of the organization. The management and operation efficiency of urban railway organizations have been evaluated since 1993 by Ministry of Public Administration and Safety to make those organizations more competitive, responsible and efficient. However there are some limitations in evaluation since they do not reflect the relative size of organizations, relative newness of facilities, etc so that it's not objective and loses fairness. This study proposes an improved method for the evaluation of safety.

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Quantitative Evaluation of Criticality According to the Major Influence of Applied with Burnup Credit on Dual-purpose Metal Cask (국내 금속겸용용기의 연소도 이득효과 적용 시 주요영향인자에 따른 정량적 핵임계 평가)

  • Dho, Ho-seog;Kim, Tae-man;Cho, Chun-Hyung
    • Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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    • v.13 no.2
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    • pp.141-154
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    • 2015
  • In general, conventional criticality analysis for spent fuel transport/storage systems have been performed based on the assumption of fresh fuel concerning the potential uncertainties from number density calculations of actinide nuclides and fission products in spent fuel. However, these evaluation methods cause financial losses due to an excessive criticality margin. In order to overcome this disadvantage, many studies have recently been conducted to design and commercialize a transportation and storage cask applied to the Burnup Credit (BUC). This study conducted an assessment to ensure criticality safety for reactor operating parameters, axial burn-up profiles and misload accident conditions, which are the factors that are likely to affect criticality safety when the BUC is applied to the dual-purpose cask under development at the KOrea RADioactive waste agency (KORAD). As a result, it was found that criticality resulting from specific power, changed substantially and relied on conditions of low enrichment and high burn-up. Considering the end effect in the case of high burn-up produced a positive-definite result. In particular, the increment of maximum effective multiplication factors due to misloading was 0.18467, confirming that misload is a factor that must be taken into account when applying the BUC. The results of this study may therefore be utilized as references in developing technologies to apply the BUC to domestic models and operational procedures or preventing any misload accidents during the process of spent fuel loading.

A Study on Flood Discharge Capacity and Hydraulic Characteristic of Labyrinth Weir as a Side-Channel Spillway (래버린스 웨어를 적용한 측수로형 여수로의 홍수배제능력 및 수리학적 특성 연구)

  • Park, Sae-Hoon;Moon, Young-Il
    • Journal of Korea Water Resources Association
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    • v.41 no.1
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    • pp.65-74
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    • 2008
  • The small and medium sized dams have the fill dam type of a lot of occasions, which are often weak in cases of major floods. For this reason, although a countermeasure is in great need, due to the importance of the facilities and financial situations, no direct safety measures have been taken. In this study, in order to minimize construction expenditure for practical safety measures in cases of major floods, the overflow section of spillway has been analyzed focusing on how the overflow capacity will increase in the case of partially rebuilding a part of the overflow section of spillway favorable for hydraulic conditions. The Labyrinth weir and movable weir was chosen for reconstruction models of the overflow section. Moreover, for analyzing the after-effects of the reconstruction, a small scale dam was temporarily chosen for various experiments such as the hydraulic model testing and the three dimension numerical evaluation through the use of Flow-3D.

A Study on the Occurrences and Causes of Accidents in Lower Grade Elementary School Children (초등학교 저학년 아동들의 안전사고 발생 실태 및 관련요인 분석)

  • 김소선;이은숙
    • Journal of Korean Academy of Nursing
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    • v.29 no.1
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    • pp.117-126
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    • 1999
  • Accidents involving children are an important cause of death and disability. They also have enomorous financial implications. In order to prevent childhood accidents, research and education for safety should be strengthened. The purpose of this study was to determine how often young children have accidents and what factors affect the accident rate. The sample consisted of 771 children who were in the second, third and forth grades of two elementary schools located in Kyung-gi Province. One school had students from middle class families living in apartment complexes and the other, students from lower income families mainly living in single houses. The questionnaires included items on the occurance of accidents and the parents' attitudes regarding accidents during the academic year from March 1997 to February 1998. The Questionnaires were distributed to conventiently selected students to be compeleted by their parents and collected during the period of May 28, to June 6, 1998. The data were analyzed using SAS PC statistical package. The results of the study are as follows ; 1. Of 771 student subjects, 393 had 887 accidental injuries during the study period. 2. The month, the day and the time with the highest accident rate were May, Sunday, and between 1 and 4 p. m. each. 3. In the analysis of the location where the injury took place, the most frequent place was on around their homes followed by school and, then, inside the home 4. Most of the accidents were caused by carelessness on the part of the children and the most frequent type of injury was an abrasion. 5. Children most injured their legs 6. They were treated at home most often and usually emergency treatment was performed by family members with, disinfection being the main type of first aid. Cost of the treatment ranged from 8,000 to 20,000 won in most cases. 7. House type and parents' education level were statistically significant in chi-square analysis. 8. Parents educate their children about traffic safety most frequently followed by fire safety and, then, prevention of violence. 9. Parents think that prevention of violence should be the most important part of injury prevention education both at school and home. 10. To identify factors related to accident occurrence, multiple logistic regression was performed and the main factors were birth order and house type.

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Study in Occupational Exposure to Radiations and Radioactive Isotopes (방사선 및 방사성동위원소 근로자 피폭실태 연구)

  • Lee, Du-Yong;Kim, Kwang-Jin;Park, Hee-Chan
    • The Journal of the Korea Contents Association
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    • v.9 no.6
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    • pp.247-255
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    • 2009
  • This study aims to provide basic data for establishing the safety and health plan by investigating the exposure conditions in the facilities registering business about handling radiations and radioactive isotopes in Korea. dose levels(working space, worker location) of the workers in 153 facilities were measured using surveymeter, and individual exposure concentration[(shallow dose(SD), depth dose(DD)] in 27 facilities using thermal luminescence dosimeter(TLD). In accordance with the measurement results by business type[fire fighting prevention business(FFPB, n=10), financial insurance business(FIB, n=3) and other facilities(n=140)] using surveymeter, those three business type groups showed difference (p<0.000). Dose levels of worker location for FFPB and FIB were significantly higher than 10.0 ${\mu}Sv$/hr, the allowable standard for radiations and radioactive isotopes, and they were higher 109.3 times(p<0.000) and 187.5 times(p<0.000) than those in other facilities. The concentration of TLD[FFPB(n=10), other facility (n=17)] in DD of FFPB was significantly higher than that in other facility(p=0.05). In accordance with the analysis result on relationship between surveymeter and TLD, the dose on working space and worker location(r=0.406, p<0.05), worker location dose and SD(r=0.453, p<0.05), worker location dose and DD(r=0.553, p<0.01), and SD and DD(r=0.927, p<0.001) had all related each other. It is urgently required to change FFPB and FIB from the facilities requiring registration for handling radiations and radioactive isotopes to the facilities that shall get permission for handling radiations and radioactive isotopes by reestablishing the legal administration area, for safety and health of radiation occupants.

A Study on the Development of an Independent Hospice Center Model (독립형 호스피스 센터 모델 개발에 관한 연구)

  • No, Yu-Ja;Han, Sung-Suk;Kim, Myeong-Ja;Yu, Yang-Suk;Yong, Jin-Seon;Jeon, Gyeong-Ja
    • Journal of Korean Academy of Nursing
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    • v.30 no.5
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    • pp.1156-1169
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    • 2000
  • The study was aimed at developing an independent hospice center model that would be best suited for Korea based on a literature review and the current status of local and international hospices. For the study, five local and six international hospice organizations were surveyed. Components of the hospice center model include philosophy, purpose, resources (workers, facilities, and equipment), allocation of resources, management, financial support and hospice team service. The following is a summary of the developed model: Philosophies for the hospice center were set as follows: based on the dignity of human life and humanism, help patients spend the rest of their days in a meaningful way and accept life positively. On the staff side, to pursue a team-oriented holistic approach to improve comfort and quality of life for terminally ill persons and their families. The hospice center should have 20 beds with single, two, and four bed rooms. The center should employ, either on a part-time or full-time basis, a center director, nurses, doctors, chaplains, social workers, pharmacists, dieticians, therapists, and volunteers. In addition, it will need an administrative staff, facility managers and nurses aides. The hospice should also be equipped with facilities for patients, their families, and team members, furnished with equipment and goods at the same level of a hospital. represented by a center director who reports to a board and an advisory committee. Also, the center director administers a steering committee and five departments, namely, Administration, Nursing Service, Social Welfare, Religious Services, and Medical Service. Furthermore, the center should be able to utilize a direct and support delivery systems. The direct delivery system allows the hospice center to receive requests from, or transfer patients to, hospitals, clinics, other hospice organizations (by type), public health centers, religious organizations, social welfare organizations, patients, and their guardians. On the other hand, the support delivery system provides a link to outside facilities of various medical suppliers. In terms of management, details were made with regards to personnel management, records, infection control, safety, supplies and quality management. For financial support, some form of medical insurance coverage for hospice services, ways to promote a donation system and fund raising were examined. Hospice team service to be provided by the hospice center was categorized into assessment, physical care, emotional care, spiritual care, bereavement service, medication, education and demonstrations, medical supplies rental, request service, volunteer service, and respite service. Based on the results, the study has drawn up the following suggestions: 1. The proposed model for a hospice center as presented in the study needs to be tested with a pilot project. 2. Studies on criteria for legal approval and license for a hospice center need to be conducted to develop policies. 3. Studies on developing a hospice charge system and hospice standards that meet local conditions in Korea need to be conducted.

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Development of Performance Indicators Based on Balanced Score Card for School Food Service Facilities (균형성과표(BSC)개념을 적응한 학교급식 운영성과 측정지표 개발)

  • Kwak, Tong-Kyung;Chang, Hye-Ja;Song, Ji-Yong
    • Korean Journal of Community Nutrition
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    • v.10 no.6
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    • pp.905-919
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    • 2005
  • This study raised the necessity of developing performance indicators for measuring the management efficiency and effectiveness of school food service, and as a means of helping its implementation, a balanced score card (BSC) approach developed by Norton and Kaplan was adopted. This study established BSC in seven phases through literature: Phase 1 Defining a school food service and the scope of working activities, Phase 2 Establishing the vision of a school food service, Phase 3 Setting strategic goals, Phase 4 Identifying critical success factors (CSFs), Phase 5 Developing Key Performance Indicators (KPIs), Phase 6 Extracting cause and effect relationship, and Phase 7 Completing a preliminary BSC. The preliminary BSC was fumed into a survey, which was administered to food service related people working at the Office of Education and School Food Service including 16 offices,209 dietitians, 48 school administrators both from self-operated and contract-managed, and 9 experts in areas related to school food service. They were asked questions about strategies from 4 different perspectives,12 CSFs, 39 KPls, and the cause and effect relationships among them. As a result, among the CSFs based on 4 different perspectives, all factors other than ' zero sum on profit/loss ' from the financial perspective turned out to be valid. In terms of KPIs, manufacturing cost percentages, casualty loss count/reduction rates, school foodervice participation rates, and sales goal achievement rates were found to be valid from the financial perspective, while student satisfaction index, faculty satisfaction index, leftover ratio, nutrition educational performance count, index of evaluating nutrition education, customer claim count/reduction rate, handling customer claim count/reduction rate, and parent satisfaction index were found to be valid from the customers' perspective. Besides, nutritional requirement sufficient ratio, nutritional management score, food poisoning outbreak count, employee safety accident count, sanitary inspection assessment index, meals per labor hour (productivity index), computerization ratio, operational management index, and purchase management assessment index were also found to be valid from the perspective of internal business processes. From the perspective of innovation and learning, employee turnover ratio/rate of absenteeism, annual education and training count, employee satisfaction index, human resource management assessment index, annual menu-related customer feedback, food service information index for employees and parents/schools were also found to be valid. The significance of this study is to present indices for measuring overall performance of school lunch food service operations without putting any limitation on types of school food service management, and to help correctly assess the contribution of the current types of school food service management to schools and students. (Korean J Community Nutrition 10(6) : $905\∼919$, 2005)