• Proceedings of the Korean Nuclear Society Conference
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• 1997.10a
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• pp.713-718
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• 1997

In the TMI-2 accident, approximately twenty(20) tons of molten core material drained into the lower plenum. Early advanced light water reactor (LWR) designs assumed a lower head failure and incorporated various measures for ex-vessel accident mitigation. However, one of the major findings from the TMI-2 Vessel Investigation Project was that one part of the reactor lower head wall estimated to have attained a temperature of 1100$^{\circ}C$ for about 30 minutes has seemingly experienced a comparatively rapid cooldown with no major threat to the vessel integrity. In this regard, recent empirical and analytical studies have shifted interests to such in-vessel retention designs or strategies as reactor cavity flooding, in-vessel flooding and engineered gap cooling of the vessel Accurate thermohydrodynamic and creep deformation modeling and rupture prediction are the key to the success in developing practically useful in-vessel accident/risk management strategies. As an advanced in-vessel design concept, this work presents the COrium Attack Syndrome Immunization Structures (COASIS) that are being developed as prospective in-vessel retention devices for a next-generation LWR in concert with existing ex-vessel management measures. Both the engineered gap structures in-vessel (COASISI) and ex-vessel (COASISO) are demonstrated to maintain effective heat transfer geometry during molten core debris attack when applied to the Korean Standard Nuclear Power Plant(KSNPP) reactor. The likelihood of lower head creep rupture during a severe accident is found to be significantly suppressed by the COASIS options.

• Journal of Korean Society of Coastal and Ocean Engineers
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• v.14 no.1
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• pp.1-7
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• 2002

In the past, safety assessment on the site of Ulchin Nuclear Power Plants against tsunamis was carried out with probable maximum earthquake magnitude and related tsunamigenic fault parameters. Recently, however, based on the seismic gap theory, some seismologists warned about earthquakes of larger magnitudes than had been expected. In this study, we revaluated tsunami risk with a finite difference model based on linear and nonlinear shallow water equations. Firstly, we simulated the\`83 tsunami and compared the calculated water surface profile with the observed wave heights. Secondly, we evaluated the rise and drop of sea water level at the site of Ulchin Nuclear Power Plant with fault parameters of the past '83, '93 tsunamis and some dangerous faults. Finally, we showed that the cooling water intake facility of Ulchin Nuclear Power Plants would be safely operated in disastrous tsunamis.

• Earthquakes and Structures
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• v.24 no.4
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• pp.275-288
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• 2023

Based on the crucial role of high-speed railway bridges (HSRBs) in the safety of high-speed railway operations, it is an important approach to mitigate earthquake hazards by proceeding with seismic risk assessments in their whole life. Bridge seismic risk assessment, which usually evaluates the seismic performance of bridges from a probabilistic perspective, provides technical support for bridge risk management. The seismic performance of bridges is greatly affected by the degradation of material properties, therefore, material damage plays a nonnegligible role in the seismic risk assessment of the bridge. The effect of material damage is not considered in most current studies on seismic risk analysis of bridges, nevertheless. To fill the gap in this area, in this paper, a nonlinear dynamic time-history analysis has been carried out by establishing OpenSees finite element model, and a seismic vulnerability analysis is carried out based on the incremental dynamic analysis (IDA) method. On this basis, combined with the site risk analysis, the time-dependent seismic risk analysis of an offshore three-span HSRB in the whole life cycle has been conducted. The results showed that the seismic risk probabilities of both components and system of the bridge increase with the service time, and their seismic risk probabilities increase significantly in the last service period due to the degradation of the material strength, which demonstrates that the impact of durability damage should be considered when evaluating the seismic performance of bridges in the design and service period.

• KDI Journal of Economic Policy
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• v.46 no.1
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• pp.21-51
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• 2024

Since the Global Financial Crisis of 2008-2009, the importance of nonbank financial institutions in macroprudential management has increased significantly. Consequently, major countries and international financial institutions have been actively discussing and implementing macroprudential supervision and regulation for non-bank financial institutions (NBFI). In this context, this paper analyzes the systemic risk of both banks and non-bank sectors (securities firms and insurance companies) in South Korea over different time periods. Using the widely recognized ΔCoVaR methodology for measuring systemic risk, the analysis reveals that systemic risk increased substantially across all three sectors (banks, securities firms, and insurance companies) during the Global Financial Crisis, the European Sovereign Debt Crisis, and the COVID-19 pandemic. Although the banking sector exhibited relatively high systemic risk compared to the securities and insurance sectors, the relative differences in systemic risk varied across the different crisis periods. Notably, during the margin call crisis in March of 2020, the gap in systemic risk between the banking and securities sectors decreased significantly compared to that during both the Global Financial Crisis and the European Sovereign Debt Crisis, indicating that securities firms had a more substantial impact on risk in the overall financial system during this period. Furthermore, I analyze the impact of the issuance of equity-linked securities (ELS) by financial institutions on systemic risk, as measured by ΔCoVaR, finding that an increase in the outstanding balance of ELS issuance by financial institutions had an impact on increasing ΔCoVaR during the three crisis periods. These findings underscore the growing importance of non-bank financial institutions in relation to South Korea's macroprudential management and supervision. To address this evolving landscape, enhanced monitoring and regulatory measures focusing on non-bank systemic risk are essential components of maintaining financial stability in the country.

• Journal of the Korean Recycled Construction Resources Institute
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• v.11 no.1
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• pp.79-88
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• 2023

In this study, a development of the rust formation arising from steel corrosion was modelled to quantify the structural impact in steel reinforced concrete. The interfacial gap, cover depth and diameter of steel rebar were taken for variables in modelling. It was found that the interfacial gap was the most influencing on the structural limit at steel corrosion, followed by steel diameter and cover depth. At 75 mm of cover depth with 20 mm of the steel diameter, the rust amount to reach cracking accounted for 16.95-27.69 ㎛ to 1-10 ㎛ of the interfacial gap. It was found that there was no risk of cracking and structural limit until the rust was formed within the interfacial gap. With a further formation of rust, the concrete section was successively behaved to yielding, cracking and failure. Additionally, the interfacial gap was the most dominant parameter for the rust amount to reach the cracking of concrete at the interfacial zone, whilst the cover depth had a marginal effect on cracking but had a crucial influence on the rust to failure.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.37
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• pp.187-216
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• 2008

Risk regarding the possibility of loss can be especially problematic. If a loss is certain to occur, it may be planned for in advance and treated as a definite, known expense. It is when there is uncertainty about the occurrence of a loss that risk becomes an important problem. The word risk is often used in connection with insurance. No one generally accepted definition of risk exists, however. Of the many definitions, two distinctive ones are commonly used. One defines risk as the variation in possible outcomes of an event based on chance. That is, the greater the number of different outcomes that may occur, the greater the risk. Another way of expressing this concept is to state: The greater the variation around an average expected loss, the greater the risk. The second definition of risk is the uncertainty concerning a possible loss. The definition of risk as a useful one because it focuses attention on the degree of risk in given situations. The degree of risk is a measure of the accuracy with which the outcome of an event based on chance can be predicted. For now, it will serve our purpose to note the more accurate the prediction of the outcome of an event based on chance, the lower the degree of risk. After sources of risks are identified and measured, a decision can be made as to how the risk should be handled. A pure risk that is not identified does not disappear, the business merely loses the opportunity to consciously decide on the best technique for dealing with that risk. The process used to systematically manage risk exposures is known as risk management. Some persons use the term risk management only in connection with businesses, and often the term refers only to the management of pure risks. In this sense, the traditional risk management goal has been to minimize the cost of pure risk to the company. But as firms broaden the ways that they view and manage many different types of risk, the need for new terminology has become apparent. The terms integrated risk management and enterprise risk management reflect the intent to manage all forms of risk, regardless of type. International trade transaction is called between countries has features of globalism, cultural gap, long distance and long terms for the transaction. It is riskier than domestic transaction has its specific risks, such as foreign exchange risk and political risk, and requires various active risk management skills. Risks in relation to the international trade transaction are the contract risk, transit risk and payment risk, etc. The risk management in relation to the international trade transaction is to identify and measure these risks. The purpose of this study is to analyse the practical problems and its solution plan by analyzing various cases related to the risk management of bill of lading in the international trade transaction.

• Safety and Health at Work
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• v.4 no.2
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• pp.87-94
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• 2013

Background: In times of continuous change and volatile markets, organizations are increasingly characterized by downsizing, work intensification, and resource rationalization. This has resulted in diversification, and the emergence of newrisks within the field of occupational health and safety, with an important impact. This paper focuses on one such type of risk in the modern workplace-psychosocial risks. The current study aimed to explore stakeholder perspectives, regarding the extent to which psychosocial risks are incorporated into strategic risk management practices, at both the business and policy level. Methods: Semi-structured interviews were conducted with 14 professionals, representing employer, expert, policy maker, and trade union stakeholder perspectives. Results: It was found that the majority of organizations do not sufficiently, if at all, understand and incorporate psychosocial risks into strategic decision making, whereby the key barrier related to practical difficulties of not knowing how to manage psychosocial risks adequately. Conclusion: The study found that there is a need to close the gap between policy and practice on a number of levels. Future recommendations comprise a policy framework and infrastructure underpinned by educational initiatives, partnerships, and networks to drive a shift in attitudes toward recognizing the duality of the concept of risk (including both potential negative and positive outcomes) and moving beyond simple regulatory compliance.

• Safety and Health at Work
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• v.12 no.2
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• pp.261-267
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• 2021

Background: The series of serious industrial accidents in recent years at contractors to large companies has highlighted risk outsourcing as a real and urgent problem. This study aims to review the difference in the degree of risk exposure and the occurrence of industrial accidents depending on the type of company relations. Among in-house contractors, the focus will be on those handling hazardous chemicals that include companies for which outsourcing requires approval. Methods: This study uses the 9th wave of the Industrial Safety and Health Survey (2018). For determining the degree of risk exposure, the occurrence of industrial accidents, and industrial accident rate, multivariate, logistic, and fractional logit, regression analyses were used, respectively. Results: First, In-house contractors' degree of risk exposure is higher than that of the client companies. In particular, this gap is even greater for companies dealing with chemicals. Second, among only those that handle hazardous chemicals, in-house contractors do show a significantly higher rate of industrial accident occurrence. Third, In-house contractors have a significantly higher rate of industrial accidents from diseases than client companies. Conclusion: The analysis supports the intent of the legal amendment that strengthens the protection of in-house contracted workers who handle hazardous chemicals. Second, the results of this study suggest that safety and health management must go beyond legal compliance and ensure that it has substance and effectiveness. Last, there should be policy consideration is necessary to reduce attempts to hide industrial accidents.

• Korean Journal of Construction Engineering and Management
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• v.15 no.3
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• pp.66-73
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• 2014

The Korean construction industry has been severely impacted by the 2008 global financial crisis, which resulted in a significant reduction in the overall contract amount. For survival, many construction management (CM) companies had to adapt a strategy of lowering bid prices to maintain their competitiveness. As a result of the strategy, companies faced a number of issues including their decreased capability in risk management. However, most risk management-related studies focused on construction risk management, yet these studies lacked consideration of enterprise-level risk management practices. To fill the gap, the objectives of the present study are (1) to investigate, the risk management practices of Korean CM companies, (2) to identify factors that determine efficient enterprise-level risk management practices, and (3) to propose a module for the development of enterprise-level risk management. Lastly, the efficiency of the proposed development module was validated by using a survey.

• Journal of the Korea Institute of Building Construction
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• v.10 no.2
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• pp.133-138
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• 2010

Conceptual cost is estimated with insufficient information at an early stage of a building construction project, resulting in an inevitable gap between conceptual estimated cost and real constructed cost. For a project to be successful, this gap must be managed to be lower than a reliable level. Therefore, the purpose of this study is to propose a structural process for managing the reliability of conceptual cost estimates at an early stage of a building construction project. In researching this study, conceptual cost estimate experts were interviewed,and a risk management process was studied. Reliability assessment and a review process for improving the quality of conceptual cost estimate and the planning strategy of reliability management based on previous similar projects were added to the present estimate process. The proposed reliability management process will improve the chances of a successful project, by helping to decrease the risk of conceptual estimated cost.