• Journal of Advanced Navigation Technology
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• v.21 no.3
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• pp.230-242
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• 2017

A significant rise in product-liability cost is expected due to the newly passed product liability amendment Bill approved during the assembly plenary session on March 30, 2017. Korean government legal service(KGLS) filed a damage suit against Korea aerospace industries, Ltd.(KAI) and Hanwha Techwin Co., Ltd., the manufactures of the KUH-1 Surion helicopter crashed. KGLS alleged claims under the product liability Act, the warrant liability Act and the non-performance of contract act. The accountability limits of military aircraft manufacturers was a highly divisive issue among related scholars and legal practitioners. The bottom line was that military aircraft manufacturers had no product-liability insurance available. The United States courts have, therefore, developed the government contractor defense(GCD) and it was recognized by the U.S. Supreme Court in Boyle v. United Technologies corporation(1988). product liability insurances for military aircraft manufacturers are excessively expensive and it cannot be added onto the military procurement cost accounting. However, having an aircraft accident without one can be ruinously expensive. Therefore, the manufacturers should promptly set up appropriate risk management measures. This thesis will first review the advance GCD theory, and then find a way to either reform government contract related regulations.

• Journal of Digital Convergence
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• v.14 no.8
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• pp.163-175
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• 2016

The purpose of this study is to provide an efficient internal control system formation incentives for company and to confirm empirically usefulness of the internal accounting control system for financial institutions by analyzing whether the internal control vulnerabilities of companies related significantly to the classification and assessment of soundness of financial institutions. Empirical analysis covered KOSPI, KOSDAQ listed companies and unlisted companies with more than 100 billion won of assets which have trading performance with "K" financial institution from 2008 until 2013. Whereas non-internal control vulnerability reporting companies by the internal control of financial reporting received average credit rating of BBB on average, reporting companies received CCC rating. And statistically significantly, non-reporting companies are classified as "normal" and reporting companies are classified as "precautionary loan" when it comes to asset quality classification rating. Therefore, reported information of internal control vulnerability reduced the credibility of the financial data, which causes low credit ratings for companies and suggests financial institutions save additional allowance for asset insolvency prevention and require high interest rates. It is a major contribution of this study that vulnerability reporting of internal control in accordance with the internal control of financial reporting can be used as information significant for the evaluation of financial institutions on corporate soundness.

• Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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• v.15 no.3
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• pp.191-197
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• 2017

The Korea Atomic Energy Research Institute (KAERI) has developed a safeguards technology for pyroprocessing based on the Safeguards-By-Design (SBD) concept. KAERI took part in a Member-State Support Program (MSSP) to establish a pyroprocessing safeguards approach. A Reference Engineering-scale Pyroprocessing Facility (REPF) concept was designed on which KAERI developed its safeguards system. Recently the REPF is being upgraded to the REPF+, a scaled-up facility. For assessment of the nuclear-material accountancy (NMA) system, KAERI has developed a simulation program named Pyroprocessing Material Flow and MUF Uncertainty Simulation (PYMUS). The PYMUS is currently being upgraded to include a Near-Real-Time Accountancy (NRTA) statistical analysis function. The Advanced Spent Fuel Conditioning Process Safeguards Neutron Counter (ASNC) has been updated as Non-Destructive Assay (NDA) equipment for input-material accountancy, and a Hybrid Induced-fission-based Pu-Accounting Instrument (HIPAI) has been developed for the NMA of uranium/transuranic (U/TRU) ingots. Currently, performance testing of Compton-suppressed Gamma-ray measurement, Laser-Induced Breakdown Spectroscopy (LIBS), and homogenization sampling are underway. These efforts will provide an essential basis for the realization of an advanced nuclear-fuel cycle in the ROK.

• Journal of Convergence for Information Technology
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• v.10 no.11
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• pp.324-331
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• 2020

This study used the financial information of 29 Regional public hospitals registered in the HASPA. Regional public hospitals analyzed the ratio of operating financing by management activities and how they affect net profit. The results of the study, Regional Public Hospitals ratio of fund financing for management activities was 83.50 percent for medical revenues, 9.53 percent for Incidental Revenue of Medical, 4.54 percent for Contribution Revenue, 4.42 percent for Other non-medical profits, 1.21 percent for depreciation Expense and 0.73 percent for Amount of reserve for unique purpose project. As a result of examining the effect of financing by management operation on net profit, the ratio of operating funds by medical revenue, by incidental revenue of medical, by contribution revenue and by other non-medical profits had a positive impact on net profit of Regional public hospitals. And It has been confirmed that the ratio of amount of reserve for unique purpose project has a negative impact on net profit. Therefore, it is necessary for Regional public hospitals to manage costs in consideration of revenues and internal reserves.

• Journal of the Korean Geotechnical Society
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• v.28 no.12
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• pp.5-15
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• 2012

In this study, a series of CFD (Computational Fluid Dynamics) numerical analyses were performed in order to evaluate the thermal performance of six full-scale closed-loop vertical ground heat exchangers constructed in a test bed located in Wonju. The circulation HDPE pipe, borehole and surrounding ground formation were modeled using FLUENT, a finite-volume method (FVM) program, for analyzing the heat transfer process of the system. Two user-defined functions (UDFs) accounting for the difference in the temperatures of the circulating inflow and outflow fluid and the variation of the surrounding ground temperature with depth were adopted in the FLUENT model. The relevant thermal properties of materials measured in laboratory were used in the numerical analyses to compare the thermal efficiency of various types of the heat exchangers installed in the test bed. The simulation results provide a verification for the in-situ thermal response test (TRT) data. The CFD numerical back-analysis with the ground thermal conductivity of 4 W/mK yielded better agreement with the in-situ thermal response tests than with the ground thermal conductivity of 3 W/mK.

• The Korean Journal of Financial Management
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• v.27 no.1
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• pp.121-156
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• 2010

Back-door-listing can be viewed both as M&A and an alternative to IPO. If IPO is an access to the capital market through regulations, back-door-listing would be the way of entering the market through trading. Back-door-listing can be a better choice considering the common wisdom that regulations hinder the functioning of free market system. One would, however, prefer IPO, for the informational asymmetry isless severe in case of IPO. This paper examines if IPO is superior to back-door-listing as to the informational efficiency. The excess buy-and-hold returns of the Kosdaq back-door-listing firms are estimated over the three-year-period since the event. They are compared against the excess buy-and-hold returns of the Kosdaq IPO firms over the same period of time. The results confirm this paper's prediction that IPO should be more information-efficient. Both IPO and back-door-listing firms start with high short-term excess returns and end up with long-term under-performance. However, back-door-listing firms show more significantly damaging long-term results. Furthermore, back-door-listing firms record poorer accounting results over the research period. These results imply that there exists fad at the time of both events and, in case of back-door-listing, this fad is reinforced by the possibility of window dressing.

• The Korean Journal of Applied Statistics
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• v.29 no.4
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• pp.595-611
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• 2016

We use nonlinear regression models (such as the Hill Model) when we analyze data in toxicology and/or pharmacology. In nonlinear regression models an estimator of parameters and estimation of measurement about uncertainty of the estimator are influenced by the variance structure of the error. Thus, estimation methods should be different depending on whether the data are homoscedastic or heteroscedastic. However, we do not know the variance structure of the error until we actually analyze the data. Therefore, developing estimation methods robust to the variance structure of the error is an important problem. In this paper we propose a method to estimate parameters in nonlinear regression models based on a preliminary test. We define an estimator which uses either the ordinary least square estimation method or the iterative weighted least square estimation method according to the results of a simple preliminary test for the equality of the error variance. The performance of the proposed estimator is compared to those of existing estimators by simulation studies. We also compare estimation methods using real data obtained from the National Toxicology program of the United States.

• Knowledge Management Research
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• v.22 no.2
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• pp.247-268
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• 2021

Investors mainly use PER and PBR among financial ratios for valuation and investment decision-making. I conduct an analysis of two basic financial ratios from a statistical perspective. Financial ratios contain key accounting numbers which reflect firm fundamentals and are useful for valuation or risk analysis such as enterprise credit evaluation and default prediction. The distribution of financial data tends to be extremely heavy-tailed, and PER and PBR show exceedingly high level of kurtosis and their extreme cases often contain significant information on financial risk. In this respect, Extreme Value Theory is required to fit its right tail more precisely. I introduce not only GPD but exGPD. GPD is conventionally preferred model in Extreme Value Theory and exGPD is log-transformed distribution of GPD. exGPD has recently proposed as an alternative of GPD(Lee and Kim, 2019). First, I conduct a simulation for comparing performances of the two distributions using the goodness of fit measures and the estimation of 90-99% percentiles. I also conduct an empirical analysis of Information Technology firms in Korea. Finally, exGPD shows better performance especially for PBR, suggesting that exGPD could be an alternative for GPD for the analysis of financial ratios.

• Journal of the Korea institute for structural maintenance and inspection
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• v.24 no.6
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• pp.34-41
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• 2020

In recent years, magnitude and frequency of earthquakes have increased in Korea. Damage to a bridge, which is one of the main infrastructures, can directly lead to considerable loss of human lives. Therefore, engineers need to evaluate the seismic fragility of the structure and prepare for the possible seismic damage. In particular, the number of aging bridges over 30 years of service increases, and thus the seismic analysis and fragility requires accounting for the aging and retrofit effects on the bridge. In this study, the nonlinear static and dynamic analyses were performed to evaluate the effects of the aging and FRP retrofit on a PSC bridge. The aging and FRP retrofit were applied to piers that dominate the response of the bridge during earthquakes. The maximum displacement of the bridge increased due to the aging of the pier but decreased when FRP retrofit applied to the aged pier. In addition, seismic fragility analysis was performed to evaluate the seismic behavior of the bridge combined with the seismic performance of the pier. Compared with the aged bridge, the FRP retrofit bridge showed a decrease in the seismic fragility in all levels of damage. The reduction of the seismic fragility in the FRP bridge was prominent as the value of PGA and level of damage increased.

• Clean Technology
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• v.27 no.1
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• pp.33-38
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• 2021

Demand for lithium-based secondary batteries is greatly increasing with the explosive growth of related industries, such as mobile devices and electric vehicles. In Korea, there are several top-rated global lithium-ion battery manufacturers accounting for 40% of the global secondary battery business. Most discarded lithium secondary batteries are recycled as scrap to recover valuable metals, such as Nickel and Cobalt, but residual wastes are disposed of according to the residual lithium-ion concentration. Furthermore, there has not been an attempt on the possibility of water discharge system contamination due to the concentration of lithium ions, and the effluent water quality standards of public sewage treatment facilities are becoming stricter year after year. In this study, the as-received waste water generated from the cathode electrode coating process in the manufacturing of high-nickel-based NCM cathode material used for high-performance and long-term purposes was analyzed. We suggested a facile recycling process chart for waste water treatment. We revealed a correlation between lithium-ion concentration and pH effect according to the proposed waste water of each recycling process through analyzing standard water quality tests and daphnia ecological toxicity. We proposed a realistic waste water treatment plan for lithium electrode manufacturing plants via comparison with other industries' ecotoxicology.