• The Korean Journal of Financial Management
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• v.26 no.4
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• pp.83-102
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• 2009

Banks traditionally focus on the financial services against the uncertain future liquidity needs, i.e. saving as well as lending. As the business model of banks has been shifted from the originate to hold model to the originate to distribute model since the enactment of Gramm-Leach-Bliley Financial Services Modernization Act in 1999, the financial services encompass information gathering and generating, underwriting and risk sharing through packaging claims for the investors, in addition to the payment and settlement services. Ensued are the financial market integration and diversification of financial services, with which the accessibility to financial services is arguably significantly enhanced. Such integration and diversification necessarily entails the risk of contagion due to the non-fulfilling service over the several other financial services, which would be contained easily under the separate financial services. This paper addresses the pricing of fees for the integrated financial services through which the contagion could spread when the users of financial service are not immune to the failure to fulfill their obligation due to the economic turmoil. Consequently the information asymmetry about the clients is unavoidable. Higher fees could drive out the otherwise good clients out of the pool of customers for the financial services. Then, the risk could be exacerbated due to the proliferation of bad clients who are vulnerable to the financial distress and liquidity crunch. So the banks should take into account the interactional effect of the fees between/among the non interest based activities and interest based activities under the information asymmetry. Contrary to our general perception, the current analysis demonstrates that the bank should focus on the reduction of cost associated with good clients rather than that of bad clients.

• Journal of Convergence for Information Technology
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• v.9 no.10
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• pp.48-55
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• 2019

This study argued problems and improvement of export support system for SMEs in the uncertain world global trade environment with G2(US-China) risk. In SMEs export support system, The authorities needs stronger control tower to promote consistent export support policies. There is also another problem of repetitious work that export support system has been operated by individual project. In order to overcome these problems, first, the authorities set clearly organization to control various export support policies. Second, export support system needs the efficient operation based on long term road map. Third, the authorities defines clear roles and responsibilities of supporting units, and enhances cooperation between the different organizations. Finally, the system should arrange performance evaluation index and feedback system to build the desirable export support system.

• Journal of the Korean Institute of Gas
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• v.28 no.1
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• pp.85-99
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• 2024

As the proliferation of hydrogen electric vehicles accelerates, there is observed diversification in hydrogen refueling station models. This diversification raises safety concerns for different types of stations. This study conducted a quantitative risk assessment of a multi-vehicle hydrogen station, capable of simultaneously refueling cars, buses, and trucks. Utilizing Gexcon's Effects&Riskcurves Software, scenarios of fire and explosion due to hydrogen leaks were assessed. The study calculated the impact distances from radiative heat and explosion overpressure, and measured risks to nearby buildings and populations. The largest impact distance was from fires and explosions at dispensers and high-pressure storage units. High-pressure storage contributes most significantly to personal and societal risk. The study suggests that conservative safety distances and proper protective measures for these facilities can minimize human and material damage in the event of a hydrogen leak.

• Journal of Institute of Control, Robotics and Systems
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• v.12 no.12
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• pp.1169-1172
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• 2006

The prices of chemical products are fluctuated by several factors. The chemical companies can't predict and be ready to all of these changes, so they are exposed to the risk of a profit fluctuation. But they can reduce this risk by making a well-diversified product portfolio. This problem can be thought as the optimization of the product portfolio. We assume that the profits come from the 'spread' between a naphtha and a chemical product. We calculate a mean and a variation of each spread and develop an automatic module to calculate the optimal portion of each product. The theory is based on the Markowitz portfolio management. It maximizes the expected return while minimizing the volatility. At last we draw an investment selection curve to compare each alternative and to demonstrate the superiority. And we suggest that an investment selection curve can be a decision-making tool.

• Journal of the Architectural Institute of Korea Planning & Design
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• v.34 no.3
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• pp.73-84
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• 2018

The purpose of this study is to analyze the contents of the cultural heritage conservation standards those have been developed throughout the century to reveal the evolution of the conservation. The analysis targets are prepared principles in response to the risks posed by armed conflicts, improper modifications, risks caused by urban planning and development, and the risk posed by environmental impacts. The study analyzed how conservation targets, issues, and conservation methods have changed. The analysis showed that the results of changed trend of conservation, first, the segmentation and diversification of the conservation targets, second, the integrated approaches, third, risk perception changes due to indirect effects from direct risk factors, forth, changes of conservation from safeguard to sustainable development.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.305-314
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• 2020

This paper investigates the impact of profit and loss sharing (PLS) contracts on non-performing financing of Islamic rural banks as Islamic small banks focus on small and medium enterprises at province level across country. Our study employs panel data, consisting of 142 Islamic rural banks and using quarterly data from 2013Q1 to 2018Q4, and splits them based on the bank's size and geographical area. Both static and dynamic panel regressions are then applied. The results obviously indicate that a high proportion of profit and loss sharing contracts leads to high financing risk. The large Islamic banks encounter a higher non-performing financing stemming from profit and loss contracts compared to small Islamic banks. Profit and loss contracts also produce higher financing risk for Islamic banks outside Java, as those areas are less developed areas than Java itself. A more efficient Islamic bank is less financing risk. Income diversification lessens the impaired financing and, more particularly, large Islamic banks and Islamic banks located in Java much benefit by diversifying income and financing to lower financing risk. Our study suggests that Islamic rural banks may consider the optimal level of profit and loss sharing contracts to minimize financing risk.

• 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.

• Proceedings of the Safety Management and Science Conference
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• 2002.11a
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• pp.285-294
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• 2002

The size of state in Korea is like Israel, this country's venture capital is ruled by government. This venture capital's character is below: the concentration on research of venturer affect positively at qualify of products, This paper lies with venture capital's risk character & performance. The results show that Korean venture capitals have lager unsystematic risk than systematic risk, which implies they specialize in specific business and/or regional areas instead of diversification. The Sharpe measure reveals that the performances of Korean venture capitals are very low relative to even the market portfolio(Kospi) and Kosdaq.

• Communications for Statistical Applications and Methods
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• v.28 no.1
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• pp.59-79
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• 2021

Value at Risk (VaR) is one of the most common risk management tools in finance. Since a portfolio of several assets, rather than one asset portfolio, is advantageous in the risk diversification for investment, VaR for a portfolio of two or more assets is often used. In such cases, multivariate distributions of asset returns are considered to calculate VaR of the corresponding portfolio. Copulas are one way of generating a multivariate distribution by identifying the dependence structure of asset returns while allowing many different marginal distributions. However, they are used mainly for bivariate distributions and are not widely used in modeling joint distributions for many variables in finance. In this study, we would like to examine the performance of various copulas for high dimensional data and several different dependence structures. This paper compares copulas such as elliptical, vine, and hierarchical copulas in computing the VaR of portfolios to find appropriate copula functions in various dependence structures among asset return distributions. In the simulation studies under various dependence structures and real data analysis, the hierarchical Clayton copula shows the best performance in the VaR calculation using four assets. For marginal distributions of single asset returns, normal inverse Gaussian distribution was used to model asset return distributions, which are generally high-peaked and heavy-tailed.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2020.06a
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• pp.48-49
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• 2020

Recently the diversification of construction market and the continuous reduction of construction amount are raising the need of alternative delivery method in the construction industry. The foreign advanced companies actively adopted the CM at Risk delivery method where they perform the service of agent CM in the design phase, and agree GMP(Guaranteed Maximum Price) with the client at the time of 50~80% completion of design. Even in Korea they began to apply that method to pilot projects. In CM at Risk, through the early participation of builder, the level of design completion can be improved and the change order and construction period delay can be minimized. On the other hand, GMP is usually calculated when the design is about 80% complete, so there is uncertainty in the construction cost. Therefore, in this research, the increased amounts of construction cost are analyzed in a number of public construction projects, and GMP calculation process is proposed using the analysis results and CBR(Case-Based Reasoning) technique to reduce the construction cost increase in the construction phase.