• Journal of Korean Society of Transportation
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• v.33 no.6
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• pp.520-530
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• 2015

This paper formulates the methodologies to estimate optimal congestion tolls from long-run and short-run perspectives and applies them to the highways of Seoul. An optimal long-run congestion toll is estimated with an optimal volume-capacity-ratio to minimize the total costs which consist of two components: road construction and maintenance costs and traveler costs. By contrast, an optimal short-run congestion toll is estimated with a supply-demand equilibrium which is determined by using a speed-flow function and a disaggregate modal choice model. The results of a long-run analysis for the Seobu urban expressway suggest the optimal volume-capacity-ratio of 1.35 and the optimal congestion toll of 503 Won per automobile kilometer. By contrast, those of a short-run analysis for the Mia-ro urban arterial suggest 1.31 and 420 Won, respectively. Although our results are to some degree dependent on the interest rate and time value assumed, one basic conclusion holds up: the congestions toll tested could generate substantial gains in social welfare if applied to Seoul.

• Wind and Structures
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• v.26 no.2
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• pp.69-74
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• 2018

Nowadays, using math logic in great civil projects is considered by the clients to achieve the goals of project including quality optimization, costs, avoiding individual, emotional and political decision making, long-term and short-term goals and they are the main requirements of each project and should be considered by the decision makers to avoid the illogical decision making applied on the majority of civil projects and this imposes great financial and spiritual costs on our country. The present study attempts to present one of the civil projects (Ghasre Shirin storage dam) whose client was not ministry of energy for the first time and the short-term and long-term goals of the private sector were applied based on the triangle of quality, cost and time. Also, the math logic and model (multi-criteria decision making method and decision making matrix) is used in one of the most important sections of project, sealing element, policies and new materials (Geosynthetics) are considered and this leads to suitable decision making in this regard. It is worth to mention that this method is used for other sections of a dam including body, water diversion system, diaphragm and other sectors or in other civil projects of building, road construction, etc.

• International Journal of Highway Engineering
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• v.11 no.3
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• pp.111-120
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• 2009

Recently, pay adjustment regulation (PAR) has been developed to induce better performing road pavements around the country. This regulation was successfully applied during rehabilitation of highway flexible pavements for the first time, and their results are the focus of this paper. For highway pavements, a lot has been defined by typical amount of works a day. This lot was further divided into several sublots depending on field conditions. According to AASHTO Quality Assurance Guide Specification, pay factors for each lot were statistically determined with field measurements of five performance indicators. And composite pay factors were calculated by accounting for the impact of individual performance indicators on a long-term performance of pavement. In 2008, the PAR was tested with asphalt overlays conducted at all six local headquarters of Korea Expressway Corporation. Also, concerns raised during implementation are discussed in this paper. Limited data used in this study showed that if all performance indicators fall within the construction limits with less variances final construction costs may increase by 50%, whereas 10% reduction in construction costs could be necessary if key performance indicators such as density do not meet the construction quality requirements.

• Journal of the Korean Society of Manufacturing Process Engineers
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• v.14 no.6
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• pp.57-62
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• 2015

A large variety of pipe flanges are required in the marine and construction industry. Pipe flanges are usually welded or screwed to the pipe end and are connected with bolts. This approach is very simple and has been widely used for a long time; however, it results in high development costs and low productivity, and the products made through this approach usually have safety problems in the welding area. In this research, a new approach for forming pipe flanges based on cold forging and the floating die concept is presented. This innovative approach increases the effectiveness of the material usage and saves time and costs compared with the conventional welding method. To ensure the dimensional accuracy of the final product, finite element analysis (FEA) was carried out to simulate the process of cold forging, and orthogonal experiment methods were used to investigate the influence of four manufacturing factors (stroke of distance, pin die angle, forming of pipe diameter, and speed of the die) and predict the best combination of them. The manufacturing factors were obtained through numerical and experimental studies, which show that the approach is very useful and effective for the forming of pipe flanges and could be widely used in the future.

• Safety and Health at Work
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• v.14 no.4
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• pp.406-414
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• 2023

Background: This study examined age-group differences in the rate, severity, and cost of injuries among construction workers to support evidence-based worker safety and health interventions in the construction industry. Methods: Ohio workers' compensation claims for construction workers were used to estimate claim rates and costs by age group. We analyzed claims data auto-coded into five event/exposure categories: transportation incidents; slips, trips, and falls (STFs); exposure to harmful substances and environments; contact with objects and equipment (COB); overexertion and bodily reaction. American Community Survey data were used to determine the percentage of workers in each age group. Results: From 2007-2017, among 72,416 accepted injury claims for ~166,000 construction full-time equivalent (FTE) per year, nearly half were caused by COB, followed by STFs (20%) and overexertion (20%). Claim rates related to COB and exposure to harmful substances and environments were highest among those 18-24 years old, with claim rates of 313.5 and 25.9 per 10,000 FTE, respectively. STFs increased with age, with the highest claim rates for those 55-64 years old (94.2 claims per 10,000 FTE). Overexertion claim rates increased and then declined with age, with the highest claim rate for those 35-44 years old (87.3 per 10,000 FTE). While younger workers had higher injury rates, older workers had higher proportions of lost-time claims and higher costs per claim. The total cost per FTE was highest for those 45-54 years old ($1,122 per FTE). Conclusion: The variation in rates of injury types by age suggests that age-specific prevention strategies may be useful.

• Journal of East Asia Management
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• v.3 no.2
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• pp.1-19
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• 2022

This study suggests an integrated theoretical framework for the relationship between political risk and multinational corporation (MNC) subsidiary's performance in the emerging market. The political risk would have a negative impact on MNC subsidiary's performance in the emerging countries that are developing in Asia, the Commonwealth of Independent States, Africa, and South America. The major reason is that political risks could generate a loss of benefit or a loss of control for MNC's subsidiary. In this study, I suggest that corporate social responsibility (CSR) strategy would be a solution to overcome various political risks. Specifically, the affiliated firms with diversified industries or greater financial resources could mitigate the negative impact of political risk than unaffiliated firms. Because they can use their tangible or nontangible asset such as information, technology, and construction in order to gain legitimacy and trust from local government, local community, and local firms in the emerging market. Finally, I claimed the costs of the affiliated firms would exceed the benefits at the initial stages, while the benefits of affiliated firms would exceed the costs over time when political risks become higher. The reason is that the trust gained from local stakeholders accumulates over time and the impact of CSR strategy would become an important solution to overcome the risks in and unstable context.

• Journal of the Korean Professional Engineers Association
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• v.42 no.4
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• pp.45-50
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• 2009

The modal split structure of the Korea's transportation system has been dominated by road-oriented structure. The shortage of the inftrastructure to accommodate the rapidly increasing travel demand has brought about socio-economic losses such as severe traffic congestion and high logistic costs, and thereby weakened the competitiveness of the country. Highway transportation sector is more vulnerable to energy consumption comparing with railway sector since the highway sector is dependent mostly on fossil fuels for its energy source. In 2006 annual road cogestion costs in Korea reached 24.6 trillion won, with an average annual growth rate of 5.4%. The annual road congestion cost of intercity highways were 9.2 trillion won. As the new cities that recently developed are located far from Seoul area, the boundary of commuting in Seoul metropolitan area is extended. It makes passengers have longer trips with longer travel time, and the congestion problem to be more serious. In this regards, Gyeonggi Provincial Government proposed a deeper underground metropolitan express train system for the greater Metropolitan area. which is named as GTX. Gyeonggi Province suggested 3 key underground lines, based on the outcome of the feasibility study conducted by the Korea Society of Transportation, and submitted to the Ministry of Land Transportation and Maritime Affairs for its review. If the project is approved for construction and completed in 2016, the daily volume of surface traffic bound for Seoul will be reduced substantially and therefore the users will be benefitted for time savings by an annual amount of 2 trilion won every year.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2023.05a
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• pp.83-84
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• 2023

Wall structure smart modular is a building construction method where modules are manufactured in a factory and assembled on-site. This method is gaining popularity in the construction industry as it reduces construction time and mitigates risks such as material supply and labor costs. Wall structure smart modular is necessary as it provides comfortable temporary classroom space during renovation and remodeling of aging school buildings. The structure and characteristics of each type of temporary classroom modular were compared, and wall structure modular showed superior performance in terms of height and weight competitiveness compared to mixed structures. With these advantages, wall structure modular can ensure economic efficiency and recyclability as a temporary classroom. In the future, we aim to compare and analyze the standards such as inter-floor noise and heat transfer coefficient for wall structure and mixed structures.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1528-1533
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• 2009

Infrastructure is provided to the user through long-term project period and large-scale working expenses. Existing facilities are getting old as time goes by. Accordingly, proper maintenance is required and generally more maintenance cost than initial invested cost is needed during life cycle. Therefore, a specific plan that just increases the value of facilities is required by evaluating performance of facilities and inputting minimum maintenance cost. Value engineering that increases the value of object by systemically analyzing Life Cycle Costs and function is actively promoted at the design phase of construction. These efforts can increase the performance of facilities at the maintenance phase of infrastructure. This study is to search how to evaluate the performance of Roadway by utilizing function analysis, as a core part of VE in the maintenance phase. In order to this a new evaluation criteria were proposed by adding an evaluation items to the existing criteria through the research of old documents, status of roadway maintenance and function analysis of VE. The results of this study may promote the effective performance evaluation to determine a resolution of roadway congestion in future. A succeeding study using the proposed evaluation criteria will be required.

• International conference on construction engineering and project management
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• 2013.01a
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• pp.467-474
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• 2013

Construction contactors must continuously seek to improve their cash flows, which reside at the heart of their financial success. They require careful planning, analysis, and optimization to avoid the risk of bankruptcy, remain profitable, and secure long-term growth. Sources of cash include bank loans and retained earnings, which are conceptually similar in that they both incur a cost of capital. Financial management therefore requires accurate yet customizable modeling capabilities that can quantify all expenses, including said cost of capital. However, currently existing cash flow models in construction engineering and management have strongly simplified the manner in which interest is assessed, which may even lead to overstating it at a disadvantage to contractors. The variable nature of cash balances, especially in the early phases of construction projects, contribute to this challenging issue. This research therefore extends a new cash flow model with an accurate interest calculation. It utilizes singularity functions, so called because of their ability to flexibly model changes across any number of different ranges. The interest function is continuous for activity costs of any duration and allows the realistic case that activities may begin between integer time periods, which are often calendar months. Such fractional interest calculation has hitherto been lacking from the literature. It also provides insights into the self-referential behavior of compound interest for variable cash balances. The contribution of this study is twofold; augmenting the corpus of financial analysis theory with a new interest formula, whose strengths include its generic nature and that it can be evaluated at any fractional value of time, and providing construction managers with a tool to help improve and fine-tune the financial performance of their projects.