• Proceedings of the Earthquake Engineering Society of Korea Conference
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• 1999.04a
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• pp.217-222
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• 1999

Seismic design in low to moderate seismic regions has to be based on the characteristics of seismic risk ground motion and structural response in that region. The characteristics of seismic hazard in low to moderate seismic regions are reviewed briefly. The recent findings on the dynamic behavior subjected to the moderate intensity level of ground motion are summarized. The seismic design considerations in Easterm America China Australia Thailand and Hong Kong will be introduced, . The effort to adopt the limited ductility design in low to moderate seismicity regions will be reported. Finally research works that are required for the implementation of the limited design concept will be proposed.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.2
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• pp.841-846
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• 2011

Presently, the level of service(LOS) of the domestic roads are evaluated by using average speed of passing by vehicles. However, this method has been designed by considering the degree of congestion on the road only, without considering the reality of traffic safety. Therefore, for the LOS to serve as an index evaluating proper road design and operation, it should be able to deal with wider coverage than known factors which directly affects road users. Therefore the study wants to explore the concept of user cost, as a factor that covers traffic safety and flow, for evaluating roads. Also, the study wants to develop UML based user-centric design, not a one-time development method, for evaluating risk order of roads.

• Journal of the Korean Society of Safety
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• v.39 no.2
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• pp.75-86
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• 2024

Hydrogen has been selected as one of the key technologies for reducing CO₂ emissions to achieve carbon neutrality by 2050. However, hydrogen safety issues should be fully guaranteed before the commercial and widespread utilization of hydrogen. Here, a bow-tie risk assessment is conducted for the hydrogen fuel supply system in a gas turbine power plant, which can be a mass consumption application of hydrogen. The bow-tie program is utilized for a qualitative risk assessment, allowing the analysis of the causes and consequences according to the stages of accidents. This study proposed an advanced bow-tie method, which includes the barrier criticality matrix and visualized maps of quantitative risk reduction. It is based on evaluating the importance of numerous barriers for the extent of their impact. In addition, it emphasizes the prioritization and concentrated management of high-importance barriers. The radar chart of a bow tie allows the visual comparison of risk levels before/after the application of barriers (safety measures). The risk reduction methods are semi-quantitatively analyzed utilizing the criticality matrix and radar chart, and risk factors from multiple aspects are derived. For establishing a secure hydrogen fuel storage system, the improvements suggested by the bow-tie risk assessment results, such as 'Ergonomic equipment design to prevent human error' and 'Emergency shutdown system,' will enhance the safety level. It attempts to contribute to the development and enhancement of an efficient safety management system by suggesting a method of calculating the importance of barriers based on the bow-tie risk assessment.

• The Journal of Industrial Distribution & Business
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• v.13 no.10
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• pp.1-8
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• 2022

Purpose: Support vector machines (SVMs) ensemble has been proposed to improve classification performance of Credit risk recently. However, currently used fusion strategies do not evaluate the importance degree of the output of individual component SVM classifier when combining the component predictions to the final decision. To deal with this problem, this paper designs a support vector machines (SVMs) ensemble method based on fuzzy integral, which aggregates the outputs of separate component SVMs with importance of each component SVM. Research design, data, and methodology: This paper designs a personal credit risk evaluation index system including 16 indicators and discusses a support vector machines (SVMs) ensemble method based on fuzzy integral for designing a credit risk assessment system to discriminate good creditors from bad ones. This paper randomly selects 1500 sample data of personal loan customers of a commercial bank in China 2015-2020 for simulation experiments. Results: By comparing the experimental result SVMs ensemble with the single SVM, the neural network ensemble, the proposed method outperforms the single SVM, and neural network ensemble in terms of classification accuracy. Conclusions: The results show that the method proposed in this paper has higher classification accuracy than other classification methods, which confirms the feasibility and effectiveness of this method.

• Journal of the Korean Society of Safety
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• v.29 no.1
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• pp.1-6
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• 2014

With increasing number of citizen using subway stations everyday, safety, health and comfort of passengers and occupants became an important social issue. Considering the fact that various physical variables and pollutants are related to indoor air quality (IAQ) which may cause health problem, IAQ need to be closely monitored and controlled in multiple locations in subway stations. This study is a continuation of the previous studies and delay induced in wireless-wired network is experimentally evaluated and the risk involved is assessed. In doing that, a key parameter is identified to be the network delay in different network media. Application of information-theoretic measure to assess the risk in network delay is then discussed. The idea is based on the general principles of engineering design and their applications to quantification of uncertainty in network delay. Experimental results show that more risk is involved in wireless data communication. Efficient and fast conversion of transmission data in both LonWorks/IP server and ZL converter is also noted.

• Asia-Pacific Journal of Business
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• v.11 no.4
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• pp.37-48
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• 2020

Purpose - This study empirically investigates whether the risk property included in fat-tails of return distributions is systematic or unsystematic based on the devised statistical methods. Design/methodology/approach - This study devised empirical designs based on two traditional methods: principal component analysis (PCA) and the testing method of portfolio diversification effect. The fatness of the tails in return distributions is quantitatively measured by statistical probability. Findings - According to the results, the risk property in the fat-tails of return distributions has the economic meanings of eigenvalues having a value greater than 1 through PCA, and also systematic risk that cannot be removed through portfolio diversification. In other words, the fat-tails of return distributions have the properties of the common factors, which may explain the changes of stock returns. Meanwhile, the fatness of the tails in the portfolio return distributions shows the asymmetric relationship of common factors on the tails of return distributions. The negative tail in the portfolio return distribution has a much closer relation with the property of common factors, compared to the positive tail. Research implications or Originality - This empirical evidence may complement the existing studies related to tail risk which is utilized in pricing models as a common factor.

• Asia-Pacific Journal of Business
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• v.15 no.2
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• pp.71-88
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• 2024

Purpose - This study provides an overview of existing research and practices related to market risk premiums(MRP), and empirically estimates the MRP in Korea, particularly using the related option prices. We also seek to improve the current MRP practices and explore alternative solutions. Design/methodology/approach - We present the option price-based MRP estimation method, as proposed by Martin (2017), and implement it within the context of the Korean stock market. We then juxtapose these results with those derived from other methods, and compare the characteristics with those of the United States. Findings - We found that the lower limit of the MRP in the Korean stock market shows a much lower value compared to the US. There seems to be the possibility of a market crash, exchange rate volatility, or a lack of option trading data. We investigated the predictive power of the estimated values and discovered that the weighted average of the results of various methodologies using the Principal Component Analysis (PCA) is superior to the individual method's results. Research implications or Originality - It is required to explore various methods of estimating MRP that are suitable for the Korean stock market. In order to improve the estimation methodology based on option prices, it is necessary to develop the methods using the higher-order(third order or above) moments, or consider additional risk factors such as the possibility of a crash.

• Asia-Pacific Journal of Business
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• v.12 no.1
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• pp.135-149
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• 2021

Purpose - I analyzes risk-to-performance evaluated in the market using data from sale and lease back. Specifically, I analyze from the perspective of financial institutions that purchase sale and lease back based on the cases of investment by ship investment companies and acquisition of ships. Design/methodology/approach - I use 49 sale and lease back data from 2017 to 2019 for empirical analysis. Findings - The main results of this paper are as follows. First, after sale and lease back of domestic ships, the average amount of sales by the leased shipping company is 25.1 billion won, the average amount of investment by the purchased financial institution is 14.6 billion won (60%) and the average length of the ship is nine years. In ship finance, sale and lease back is deemed to be appropriately used as a means of restructuring for a large amount of money. Second, the main risk factor for sale and lease back of domestic ships is credit risk and can be measured in VaR in practice. As a result of the empirical analysis, the average credit risk burden ratio is 9%. As a major risk factor, low creditworthiness of restructuring companies is the key. Third, as a result of measuring the profitability of financial institutions that purchase sale and lease back of domestic ships at a net current price, it has an average value of 300 million won, but the deviation by case is very large. Fourth, the risk adjusted performance of sale and lease back of domestic ships is 0.54 on average compared to the total risk capital, and 0.52 compared to the stock-risk capital, and as with profitability earlier, the deviation of each case is very large and misaligned. In order to boost the sale and lease back market for large and long-term assets, in order to overcome low profitability as a prerequisite for future participation of commercial purchased financial institutions, it is expected that purchase decisions based on expectations versus risk will be necessary. Research implications or Originality - The results of this paper are expected to broaden the understanding of sale and lease back and foster the ability to assess long-term risk and performance. Based on this, it is believed that rapid restructuring of companies through sale and lease back of large amounts of long-term assets will greatly increase the utility of the domestic financial market.

• The Research Journal of the Costume Culture
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• v.24 no.1
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• pp.41-53
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• 2016

The purposes of this study was to identify fashion shoppers' perceived risk and satisfaction while shopping at overseas online shopping malls based on their internet shopping values. A self-administered questionnaire was used for data collection and an internet survey was conducted from April 12~15, 2015. Most consumers purchased one or two fashion items at overseas online malls directly, motivated by low prices, and spent 200,000~400,000 won during the last one year. The factors of consumers' internet shopping values were information, hedonics, and practicality. Factors of perceived risk were delivery and refund, price and approval, and product and shopping mall. Consumers were divided into three categories: heavy pursuit shoppers, intermediate shoppers, and uninformed shoppers based on their internet shopping values. Heavy pursuit shoppers were primarily female; they spent more, felt a deeper patronage with overseas online shopping malls and their perceived risk regarding delivery and refund was higher than the other shoppers. The group of uninformed shoppers were primarily male. They spent less, had low patronage with overseas online shopping malls, and their perceived risk regarding delivery and refund was lower than other shoppers. Overall satisfaction was positively affected by information provided while shoppers were surfing the overseas online shopping malls and practicality. Satisfaction was negatively affected by perceived risk regarding price and approval and difficulty in finding specific products while shopping at overseas online shopping malls.

• Journal of Korea Water Resources Association
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• v.39 no.8 s.169
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• pp.659-668
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• 2006

The uncertainty of the risk of failure of hydraulic structures can be determined by estimating the variance of the risk of failure based on the methods of moments, probability weighted moments, and maximum likelihood assuming that the underlying model is the Gumbel distribution. In this paper, the variance of the risk of failure was derived. Monte Carlo simulation was peformed to verify the characteristics of the derived formulas for various sample size, design life, nonexceedance probability, and variation coefficient. As the results, PWM showed the smallest relative bias and root mean square error than the others while ML showed the smallest ones for relatively large sample siBes regardless of design life and nonexceedance probability. Also, it was found that variation coefficient does not effect on the relative bias and relative root mean square error.