• Journal of Contemporary Eastern Asia
• /
• v.18 no.1
• /
• pp.189-216
• /
• 2019

The frequent occurrence of overwhelming disasters necessitates risk communication systems capable of operating effectively in disaster contexts. Few studies have examined risk communication networks during disasters through social networking services (SNS). This study therefore investigates the patterns of risk communication by comparing Korean and international networks based on the social amplification of risk communication in the context of the Sewol ferry disaster (SFD). In addition, differences in language use and patterns between Korean and international contexts are identified through a semantic analysis using KrKwick, NodeXL, and UCINET. The SFD refers to the sinking of the ferry while carrying 476 people, mostly secondary school students. The results for interpersonal risk communication reveal that the structure of the Korean risk communication network differed from that of the international network. The Korean network was more fragmented, and its clustering was more sparsely knitted based on the impact and physical proximity of the disaster. Semantic networks imply that the physical distance from the disaster affected the content of risk communication, as well as the network pattern.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.5
• /
• pp.851-861
• /
• 2021

This study aims to explore the specific risks in family small-medium enterprises (SMEs) and explain how they manage these risks to sustain and expand. In Indonesia, family business composes around 95 percent of all businesses and contributes about 80 percent to the country's economy. SMEs contribute approximately 57.8 percent to the nation's gross domestic product. Risk management poses challenges to the family business's survival, as family members do not take actions on risk. The assessment of risk is difficult and family businesses lack the ability to determine risk management priorities, including risk management review processes to evaluate risk, thus leading to family business failures. Applying the case study approach, in-depth semi-structured interviews were conducted in seven family SMEs comprising fifteen informants. Additionally, a focus group discussion consisting of three experts is conducted to reaffirm the findings from the interviews, observations, and field notes. The research identified the specific risks and how the family owners strategize to safeguard against these risks such as cash flow deficiency, operations dysfunction, cultural frailty, disharmony, transgenerational entrepreneurship failure, political uncertainty, and unprofessionalism. Comprehending these risks and their strategic decisions elucidated in this research could enable the family owners and key non-family professionals to work hand-in-hand to thrive over the family business risks together. Further avenues of research regarding family business risk management are also suggested in this study.

• Asia Pacific Journal of Business Review
• /
• v.5 no.1
• /
• pp.11-19
• /
• 2020

This study is a review on Risk analysis of foreign direct investments in innovative projects of Uzbekistan. The study will examine SWOT and PESTL analysis as an effective situation analysis tool which plays an important role in the fields of management, marketing, and in any fields of requiring strategic planning. SWOT is an analysis method used to evaluate the 'strengths', 'weaknesses', 'opportunities', 'threats' and PESTL is an analysis tool used for measuring the 'political', 'economical', 'social', 'technological' and 'low' risks involved in a various sphere of economy. In this study, firstly the essence of SWOT and PESTL analysis is explained, secondly the components of SWOT and PESTL analysis is examined. The paper includes risk analysis for further investigation to innovation sector of Uzbekistan economy.

• International conference on construction engineering and project management
• /
• 2015.10a
• /
• pp.435-439
• /
• 2015

It is important for Singaporean companies to manage the multifaceted risks when forming international construction joint ventures (ICJVs) with developing countries. The objectives of this study are to assess the risks associated with Singaporean ICJVs with developing countries, and investigate the risk allocation preferences in these ICJVs. To fulfill these objectives, a literature review was carried out and a questionnaire survey was performed with 38 professionals. The survey results reported "political instability" as the most critical risk, and market level risks were less critical than country and project level risks. Additionally, the results showed agreement on the risk ranking between building and infrastructure ICJVs, despite significant differences in the criticalities of five risks. Furthermore, five risks were preferably allocated to host and foreign partners, respectively, while 13 risks could be shared among partners. As few studies have explored the risk allocation preferences in ICJVs, this study expands the literature. Also, the identification of the risks allows other companies to customize their own lists of critical risks, while the preferred risk allocation provides valuable information for companies from various countries that intend to form ICJVs with developing countries. Thus, this study contributes to the global body of knowledge relating to ICJVs.

• Nuclear Engineering and Technology
• /
• v.47 no.3
• /
• pp.362-379
• /
• 2015

In this study, Nuclear Power Plant (NPP) construction schedule delay risk assessment methodology is developed and the construction delay risk is assessed for turnkey international NPP projects. Three levels of delay factors were selected through literature review and discussions with nuclear industry experts. A questionnaire survey was conducted on the basis of an analytic hierarchy process (AHP) and Relative Importance Index (RII) methods and the schedule delay risk is assessed qualitatively and quantitatively by severity and frequency of occurrence of delay factors. This study assigns four main delay factors to the first level: main contractor, utility, regulatory authority, and financial and country factor. The second and the third levels are designed with 12 sub-factors and 32 sub-sub-factors, respectively. This study finds the top five most important sub-sub-factors, which are as follows: policy changes, political instability and public intervention; uncompromising regulatory criteria and licensing documents conflicting with existing regulations; robust design document review procedures; redesign due to errors in design and design changes; and worldwide shortage of qualified and experienced nuclear specific equipment manufacturers. The proposed combined AHP-RII methodology is capable of assessing delay risk effectively and efficiently. Decision makers can apply risk informed decision making to avoid unexpected construction delays of NPPs.

• Proceedings of the Computational Structural Engineering Institute Conference
• /
• 1997.10a
• /
• pp.24-31
• /
• 1997

Recently, in Korea, demand for establishment of systematic risk assessment techniques for construction projects has increased, especially after the large construction failures occurred during construction such as New Haengju Bridge construction projects, subway construction projects, gas explosion accidents etc. Most of existing risk analysis modeling techniques such as Event Tree Analysis and Fault Tree Analysis may not be available for realistic risk assessment of construction projects because it is very complex and difficult to estimate occurrence frequency and failure probability precisely due to a lack of data related to the various risks inherent in construction projects like natural disasters, financial and economic risks, political risks, environmental risks as well as design and construction-related risks. Therefor the main objective of this paper is to suggest systematic probabilistic risk assessment model and demonstrate an approach for probabilistic risk assessment using advanced Event Tree Analysis introducing Fuzzy set theory concepts. It may be stated that the Fuzzy Event Tree AnaIysis may be very usefu1 for the systematic and rational risk assessment for real constructions problems because the approach is able to effectively deal with all the related construction risks in terms of the linguistic variables that incorporate systematically expert's experiences and subjective judgement.

• Journal of Contemporary Eastern Asia
• /
• v.20 no.2
• /
• pp.85-107
• /
• 2021

Wildfires have become increasingly common and intense in South Korea because of climate change, but few have recognized the catastrophic level of the problem. Given the significant impact of wildfires, emergency management stakeholders must have effective risk communication structures for rapidly responding to such phenomena and overcoming geographical difficulties. Despite the country spending billions of dollars to build a big databased early warning system, risk communication flow during the 2017 Gangneung wildfire was ineffective, thereby causing substantial economic, social, and environmental losses. To examine the patterns of information exchange in South Korea's risk communication networks and their structural characteristics during the wildfire, we conducted semantic and network analyses of real-time data collected from social media. The results showed that the inefficient flow of risk information prevented emergency responders from adequately assessing the emergency and protecting the population. This study provides new insights into effective risk communication responses to catastrophic events and methods of research on webometric approaches to emergency management.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.4
• /
• pp.229-238
• /
• 2022

The goal of this research is to look at the Belt and Road Initiative's (BRI) goals, principles, and priorities, as well as criticisms and concerns. Another goal is to determine the Vietnamese government's best response to the BRI. Finally, the study looks at the Vietnamese viewpoint. Document review is used in conjunction with PESTELED analysis and EIU country risk model technique in this study. The study is focused on in-depth interviews with 38 top government leaders, researchers, and scholars by adopting the Delphi technique to determine major factors of risks and opportunities as well as obtain a clearer view on the Vietnamese perspective of the BRI. The main conclusion is that Vietnam's participation in the BRI could result in a variety of benefits and risks, including economic development, connectivity and integration, development finance, cooperation, coordination, trade facilitation, and people-to-people communication, as well as diplomatic and political risks, financial risks, environmental challenges, and job creation. Another conclusion is suggested that careful and case-by-case negotiation with China is needed for Vietnam to exploit the future benefits of BRI. There is a need to set up the strategy to mitigate the risk impacts, reduce the risk level, avoid risk, at last turn the risk into opportunities.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.50
• /
• pp.215-250
• /
• 2011

Korean won overseas construction projects worth 71.6 billion US Dollars in 2010, which exceeded that of 2009 by 45.6%. An overseas construction project is a transaction of large scale, long term project, many parties participating, deferred payment, and of high-technology. It contributes to foreign currency earning, and also leads the nation's export restructuring work towards high value-added one. There are various kinds of risks towards the relevant parties respectively, which are key elements in successfully performing the overseas construction project. There are completion risk, financing risk, operating risk, revenue risk etc, in an employer's place. A contractor may be confronted with payment risk, issuance risk of performance bond, financing risk, performance risk of sub-contractors, and exchange rate risk. In lenders place there are repayment risk, completion risk, and political risk in the host country. In order to mitigate risks, the parties shall take relevant measures or require relevant securities. A contractor needs to evaluate the credibility of an employer in respect of payment risk, and can also request export insurance cover by the Korea Trade Insurance Corporation(the former 'Korea Export Insurance Corporation"). An employer can require a contractor to provide performance bond in respect of completion risk, and employ a well-known first class bank as a mandated arranger to arrange financing with regard to completion risk. Lenders needs to evaluate the credibility of an employer and accomplish feasibility study of the project. Lenders can request insurance cover from export credit agency. Once the parties assess the respective risks and obtain relevant securities, the project will be successfully completed. The success of the project will be sure to bring the parties involved enormous profits and another opportunity to participate in overseas construction project afterwards.

• Asia-Pacific Journal of Business
• /
• v.9 no.1
• /
• pp.107-121
• /
• 2018

The purpose of this paper is to explore the determining factors of foreign direct investment(FDI) of Korea by using institutioanl theory. In addition, this study divides institutional facts into the formal and the informal institutions. The empirical test implements multiful regression analysis focuing on korean electronics and automotive industry. The dependent variables are FDI outflow and the independent ones are corruption, econimic freedom, political risk, human development, and culturan distance. According to the empirical results, corruptin and human development have positive effects on Korean FDI outflow. On the other hand, political risks and economic freedom have negative effects on Korean FDI outflow. This results indicate the importance of forman and informal institutional facotrs as determinants of Korean FDI outflow.