• Proceedings of the Korean Operations and Management Science Society Conference
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• 2001.10a
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• pp.157-160
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• 2001

Firms pursue new business opportunities for growth. Market development strategy is one of the growth strategies, which develops new market segments with current products. However, new market generally has high uncertainty, or high risk. Firms should consider the risk in making and implementing the market development strategy. In this paper, an optimal marketing resource allocation model is developed, taking into account the risk attitude of a firm in market development. Under the assumption of exponential utility function, the global optimal solution is derived, and the implications are provided.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.43
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• pp.297-336
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• 2009

In modern industrial society carriage of dangerous goods by sea becomes more increasing than ever before. Dangerous goods are required for special care and handling in that shipment of dangerous goods could affect safety of the vessel and other cargoes. It is also true that dangerous goods could be used as a means of terrorism. his article investigates allocation of risk and liabilities between parties involved in the carriage of dangerous goods by sea. More specifically, this study examines principles of strict liability of the shipper in shipment of dangerous goods with some limitations based upon recent cases. Furthermore this article investigates the issues on identity of shipper who bears strict liability to the carrier where there exist actual or documentary shipper other than the contractual shipper. Lastly, whether it is reasonable that the transfer of strict liability to the transferee, who does not have opportunity to verify dangerous nature of the goods before shipment, by endorsing bills of lading will be discussed critically.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.26 no.4
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• pp.149-154
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• 2018

Risk Based Oversight is a way of performing oversight, where planning is driven by the combination of risk profile and safety performance. Risk Based Oversight enables prioritization and allocation of State's safety management resources commensurate with the safety risk profile of each service provider. This paper presents the concept of Risk Based Oversight and applies it to the current Korean aviation safety oversight process. In particular, this study presents a method for generating operating profiles, one of the key concepts of Risk Based Oversight. Operations Specifications of Part 121 Airlines can generate operating profiles. In this study, a practical study was conducted to generate the operating profile and scoped DCTs using Part 121 Airlines's Operations Specifications.

• Journal of the Economic Geographical Society of Korea
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• v.11 no.2
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• pp.233-250
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• 2008

This paper aims to analyze the characteristics of BTL, and to propose the effective models connecting BTL and project finance, through the analysis of current state and case study of BTL. The main results of this study are as follows. Firstly, BTL business have been increasing fast, and most of projects are middle size projects below 100 billion Won. Nextly, key suggestions for improving BTL business model are analyzed, which are, first, risk allocation between public and private interests, second, improvement of method for selecting private investment consortium, and third, alleviation of long-term burden of local finance. Finally, effective models for connecting BTL and project finance, which are, first, model for using asset backed securities, second, model for dividing project corporations into construction corporation and operation corporation, and third, model for risk allocation between public and private interests.

• Korean Journal of Construction Engineering and Management
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• v.19 no.2
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• pp.25-37
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• 2018

In recent times, private sector allocates the risk between private sector investors in terms of equity transaction and agreement transaction. The additional risk-allocation have made the cash flows of private sector investors fluctuated and some of the PPP projects delayed. Therefore, analyzing the impact of the risk reallocation between private sector investors on their cash flows is critical for encouraging the private sector participants. In this study, a model to evaluate the financial viability of PPP project is developed based on the discounted cash flow analysis. The model can analyze the variability by equity and agreement transaction by identifying key variables of equity transaction, influence factors of agreement transaction, and relationship between the transactions and investor's profitability. It is expected that the private sector can determine the investment decision for PPP projects when the risk reallocation is occurred.

• Journal of the Korean Operations Research and Management Science Society
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• v.20 no.1
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• pp.85-99
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• 1995

Increasingly, risk analysis is becoming important ingredients in achieving the successful implementation and application in the area of the project management. The project management system is designed to manage or control the project resources on a given activity within time, cost and performance so called TPPM (Total Productive Project Management). In this research, a risk analysis model misproposed to identify potential problem areas, quantify the risks, and generated the chice of the action that can be taken to reduce the risk. In addition two analysis models are proposed : 1) risk factor model and 2) network simulation model using VERT (Venture Evaluation and Review Technique ). The objective of the remodels is to estimate the schedule, cost performance risks. These proposed quantitative models for project risk analysis are proving its value for the project managers who need to assess the risk of changes in cost, schedule, or performance. The proposed models will be used in the area of project selection, evaluation and the allocation of project resources.

• Communications for Statistical Applications and Methods
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• v.25 no.6
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• pp.605-618
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• 2018

Risk management has been a crucial part of the daily operations of the financial industry over the past two decades. Value at Risk (VaR), a quantitative measure introduced by JP Morgan in 1995, is the most popular and simplest quantitative measure of risk. VaR has been widely applied to the risk evaluation over all types of financial activities, including portfolio management and asset allocation. This paper uses the implementations of multivariate GARCH models and copula methods to illustrate the performance of a one-day-ahead VaR prediction modeling process for high-dimensional portfolios. Many factors, such as the interaction among included assets, are included in the modeling process. Additionally, empirical data analyses and backtesting results are demonstrated through a rolling analysis, which help capture the instability of parameter estimates. We find that our way of modeling is relatively robust and flexible.

• Proceedings of the KSR Conference
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• 2009.05a
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• pp.855-859
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• 2009

In this paper, we introduce the estimation method by Risk or SIL(Safety Integrity Level) for the criterion of safety assurance and summarize each application method and target. IEC 62278(EN 50126) which is international standard for the specification and verification of the railway system RAMS indicate a criterion of safety assurance. Especially, it recommend the safety verification by continuous verification as the order of requirement establishment, design, manufacture, installation, operation, and maintenance for the equipment not easy to quantify the operation environment. In this paper, we study the SIL requirement allocation method relating to internal new system development and existing system improvement by analysing SIL recommendations which were used to understand SIL for a train control equipment in 1990s in IRSE and theoretically their allocation background. This paper help the safety management of Korea train control system to develope the quantitative management procedure as international level by analyzing the SIL requirement allocation by operation agency and the right SIL verification procedure by manufacture and indicating the example to assure safety because it is necessary for improvement and localization for the Korea train control system having highly dependence on aboard technology.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.58 no.2
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• pp.175-184
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• 2022

This study analyzed the allocation of the skipper's attention during fishing operation in the wheelhouse of a Korean coastal composite fishing vessel by using video observation. To summarize the results, the ratio of lookout, radar and GPS monitoring, which is essential for prevention of collision at sea, was significantly lower than that of other fishing operation due to the attention concentration on the work place during hauling line. In order to reduce exposure to risk of collisions due to concentration of attention to certain tasks such as line hauling, it is necessary to develop an alert system that can notify the approach of other ships or obstruction throughout the ship using information from radar or the automatic identification system. In addition, the order of attention allocation to devices and facilities obtained in this study is expected to be used as basic data for device or facility layout based on the principle of usage frequency in designing wheelhouse for coastal composite fishing vessels in the future.

• Proceedings of the Korean Association of Geographic Inforamtion Studies Conference
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• 1999.12a
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• pp.85-90
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• 1999

최근 홍수에 의한 피해가 늘어나면서 재해관리에 대한 문제점이 제기되고 있다. 따라서 홍수위험도를 바탕으로 한 과학적이고 체계적인 방재대책의 수립이 요구되어 진다. 본 연구에서는 대상자의 과거 홍수피해를 데이터베이스로 구축하고, 이를 활용한 홍수위해성과 홍수위험성을 분석하여 홍수위해도(Flood Hazard Map)와 홍수위험도(Flood Risk Map)로 도출하였다. 분석결과를 이용하여 현 방재계획에서 설정되어 있는 구호시설물의 서비스 지역을 분석하고, 구호시설물의 최적의 입지를 제시하였다.