• International conference on construction engineering and project management
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• 2009.05a
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• pp.800-807
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• 2009

The limited public funds available for infrastructure projects have led governments to consider private entities' participation in long-term contracts for finance, construction, and operation of these projects to share risks and rewards between the public and the private. Because these projects have complicated risk evolutions, diverse contractual forms for each project member to hedge risks involved in a project are necessary. In light of this, Build-Operate-Transfer(BOT) model is considered as effective to accomplish Public Private Partnerships(PPPs) with a characteristic of an ownership-reversion. In BOT projects, the government has used such an incentive system as minimum revenue guarantee(MRG) agreement to attract the private's participation. Although this agreement turns out critical in success of BOT project, there still exist problematic issues in a financial feasibility analysis since the traditional capital budgeting theory, Net Present Value(NPV) analysis, has failed to evaluate the contingent characteristic of MRG agreement. The purpose of this research is to develop real option model based on option pricing theory so as to provide a theoretical framework in valuing MRG agreement in BOT projects. To understand the applicability of the model, the model is applied to the example of the BOT toll road project and the results are compared with that by NPV analysis. Finally, we found that the impact of the MRG agreement is significant on the project value. Hence, the real option model can help the government establish better BOT policies and the developer make appropriate bidding strategies.

• 한국디지털정책학회:학술대회논문집
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• 2005.11a
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• pp.425-433
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• 2005

The purpose of this paper is to study a framework on building and continuing consumer trust in mobile travel and tourism content (M-TTC). Trust development life cycle in e-commerce is a trust-oriented building flow of online consumer. Travel information and content in mobile commerce is a initiative and immature step in the ubiquitous era. Travel and tourism industry is information intensive and network business between the bricks and clicks, the public and private, and the virtual and physical. A framework of travel and tourism content in m-commerce based on Siau and Shen (2003) and in perspective of information cities by Ferguson, et al. (2004) proposes conceptual components to build information and content for continuous consumer trust. The main results of the paper by focus group research methodology focus on building a conceptual m-trust model of mobile content in travel and tourism industry. Additionally, it shows what the important factor is and how the trustworthy improves continuously to the public, mobile vendors, and technological aspects.

• Journal of the Semiconductor & Display Technology
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• v.21 no.3
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• pp.69-73
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• 2022

The application of cloud computing to many industrial domains is rapidly increasing, and domestic and foreign cloud service providers are actively conducting business. In the domestic cloud market, it is necessary to establish an ecosystem with partner operators that work closely with private cloud service providers. In this paper, to create such an environment, we propose a framework that can evaluate the capabilities of partners required for cloud service providers to establish specific business strategies. The framework proposed in this study establishes criteria for evaluating partners' competencies and applies a decision-making model such as fuzzy AHP for evaluation. Eventually this will help not only to expand the domestic cloud market but also to strengthen the competitiveness of domestic cloud partners through the growth of the domestic cloud market.

• Journal of the Korean Institute of Landscape Architecture
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• v.28 no.3
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• pp.39-52
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• 2000

The purpose of this paper is to investigate the difference in facilities of natural recreation forests developed by public and private body to answer the research that what is the difference in development of natural recreation forest between public and private developer\ulcorner After reviewing the literatures, developer's decision-making and motivation of investment, and the planning process of natural recreation forest, we had constructed th conceptual framework and have found the hypothesis of this research. Using data on development status of natural recreation forests and questionnaire surveying of 625 visitors from 9 among 72 natural recreation forests in Korea, We analyzed the data through the comparison of quantity of facilities per 1000 visitors and logistic regression method for quality of facilities. We have found that 1) the six facilities have been turned out to be statistically significant in determining the difference of public and private recreation forests. i.e., infrastructure including roads, maintenance and information and lodging and evacuation, indoor education, outdoor education, and shopping, 2) public recreation forests are well equipped such basic facility as roads, maintenance and information, lodging and evacuation while private recreation forests are well equipped such facility as indoor education, outdoor education, and shopping, and 3) the importance of such facility as roads, maintenance and information, lodging and evacuation, outdoor education, and shopping have been turned out to have 1.99, 2.26, 1.99, 3.01 and 2.24 times more important than that of indoor education, respectively. We can conclude that public recreation forest seems to be equipped with the facilities for sound recreational opportunities for general public, and private recreation forest turned out to have more facilities for pursuit of profits, installed basic facilities for user convenience and service, and special facilities for attracting user and raising revenue. Using the results of this research, we can make a guideline for a market positioning, and standards and provisions of natural recreation forests. We suggest that the relationship between user-satisfaction and recreation facility is needed to be examined in the future research.

• Journal of the Korean Institute of Intelligent Systems
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• v.20 no.5
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• pp.659-664
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• 2010

This paper provides an integrated framework for biometric data and private information protection in TeleHealth. Biometric technology is indispensable in providing identification and convenience in the TeleHealth environment. Once biometric information is exposed to mallicious attacker, he will suffer great loss from the illegferuse of his biometric data by someone else because of difficulty of change not like ID and password. We have to buil by someone esystem data bon the integrated framework for biometric data and private information protection in TeleHealth. First, we consider the structure of the biometric system and the security requirements of y someone esystem data bon the biometrics. And then, we define the TeleHealth system model and provide the vulnerabilities and countermeasures of the biometric-data by someone eintegrated model.byhe TeleHealth sse bec requires two-phata authentication for countermeasure. Finally, we made some functionferrequirements for main componenets of biometric-data bintegrated TeleHealth system framework to protect biometric data.

• International Journal of Computer Science & Network Security
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• v.23 no.11
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• pp.128-132
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• 2023

Investment authorities are broad financial institutions that carefully manage investments on behalf of the national government using a long-term value development approach. To provide a stronger structure or framework for In-vestment Authorities to govern the distribution of funds to public and private markets, we've started research to create a blockchain-based prototype for managing and tracking numerous finances of such authorities. We have taken the case study of Oman Investment Authority (OIA) of Sultanate of Oman. Oman's wealth is held in OIA. It is an organization that oversees and utilizes the additional capital generated by oil and gas profits in public and private markets. Unlike other Omani funds, this one focus primarily on assets outside the Sultanate. The operation of the OIA entails a huge number of transactions, necessitating a high level of transparency and administration among the parties involved. Currently, OIA relies on various manuals to achieve its goals, such as the Authorities and Responsibilities manual, the In-vestment Manual, and the Code of Business Conduct, among others. In this paper, we propose a Blockchain based framework to manage the operations of OIA. Blockchain is a part of the Fourth Industrial Revolution, and it is re-shaping every industry. The main components of every blockchain are assets and participants. The funds are the major assets in the proposed study, and the participants are the various fund shareholders/recipients. The block-chain's transactions are all safe, secure, and immutable, and it's part of a trustless network. The transactions are simple to follow and verify. By replacing intermediary firms with smart contracts, blockchain-based solutions eliminate any middlemen in the fund allocation process.

• Journal of Information Technology Services
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• v.15 no.4
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• pp.63-72
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• 2016

Critical infrastructure has been operating in a closed environment with a completely separate information system and in the private area. However, with the current ICT environment changes due to convergence and open platforms it has increased the threats and risks to critical infrastructure. The importance of cyber security is increasing in the infrastructure control system, such as the outbreak of Ukraine blackout in 2015 by a malicious code called 'black energy'. This thesis aims to recognize the importance and necessity of protecting the critical infrastructure service, designing a security framework reflecting environmental and characteristic changes, and analyzing the management system suitable for a security framework. We also propose a theoretical basis for constructing a new security framework by comparing and analyzing seven international security management system standards, such as NIST 800-82 and IEC 62443-2-1, which are used in the control system. As a result, the environment surrounding critical infrastructure changes with the characteristics of connectivity, openness, and finality was studied, and as a response to this, many scholars and institutions present critical infrastructure security frameworks as cycle enhancement type structures, risk management structures, and management domain expansion structures. In response, the security framework encompassing these structures, CISF (Critical Infrastructure Security Framework), was designed. Additionally, through the security related international standard and criterion analysis, as a newly designed security standard suitable for CISF, IEC 62443-2-1 is reviewed and suggestions are made.

• East Asian Journal of Business Economics (EAJBE)
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• v.12 no.1
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• pp.35-42
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• 2024

Purpose: A railroad project is a complex system with large construction costs in the initial stage and ongoing operating costs over its lifecycle. Current railroad projects tend to be based on construction options, which leads to huge deficiencies in operating costs. This phenomenon results from a lack of appropriate tools to accurately estimate a railroad project's lifecycle costs. This study attempts to analyze the major components of railroad operating costs and to propose a decision-making system for analyzing the long-term lifecycle costs of railroad projects. Research design, data and methodology: We review the literature and analyze the current status of railroad operating costs in Korea and overseas. Based on previous projects, a framework for project options and operating costs is proposed. The framework is applied to actual railroad projects to demonstrate the validity of the model. Results: Case analysis shows that our framework is comprehensive in analyzing the primary aspects of railroad operating costs and plays an effective role in choosing various railroad project options. This study points out that the railway project operates inefficiently because estimating long-term costs without reflecting specific project options causes many errors. Conclusions: A major contribution of this study is the development of an improved framework for accurately estimating operating costs and providing policymakers and engineering firms with a holistic decision support system. Detailed components in estimating operating costs of the railroad business are discussed. And we present a decision-making tool that policymakers and private businesses can use in planning the railroad business.

• Journal of the Korean Geographical Society
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• v.47 no.2
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• pp.245-267
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• 2012

This paper analyzes the discrimination of private property right protection in urban regeneration projects that is implemented by eminent domain based on public use in the United States. In spite of urban regeneration projects which depends on property condemnation for public use as a coercive power, it is executed on the discrimination of property right and sacrifice of the social disadvantages that transfer property from these private party to another big capitals and private developers. At first this paper investigates research trends in urban regeneration within the framework of multidisciplinary approach and suggests legal geographical perspective as a new research field. Next I figure out current state, types and numbers of brownfields site with the EPA and GAO data, and define these sites as results of deindustrialization and suburbanization process. Finally this paper uncover that the discrimination process of private property right is due to complex actions of expansion of public use concept in the U.S. Supreme Court from public ownership to economic public use, privatization of eminent domain, growth coalition regime and business friendly policy focused on economic development, class and racial bias, neoliberal movements of property right reform.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.119-126
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• 2001

This paper analyzes problems related to total cost changes in private investment projects, and then proposes an improvement measure for the control of cost changes within the framework of the project management, contract, human resource, project communication, cost, and time management. From the viewpoint of contract management, the basis of cost change ought to be cleared up with standardization of related provisions in the concession agreement, and potentiality of change ought to be excluded with prescription of the private investor's leading role from the design phase. Regarding human resource management, this paper proposes a standard work flow granting much sovereign rights to private parts by putting restriction on work scopes of the entrusted authority of government, and transferring the rights of assignment, contract, and control about the responsible supervisor to the concessionaire. With regard to project communication management the notification of changes on drawings and technical documents ought to be automated and the realtime database ought to be established with DMIS (Drawings & Documents Management Information System). From the cost management point of view, this thesis integrates the control of cost-change-approved items and disapproved items to one cost breakdown system, and then harmonizes the actual progress with EVMS in time management.