• Title/Summary/Keyword: financial losses

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Risk Factors Analysis and Quantitative Risk Assessment Model for Plant Construction Project (플랜트 건설 리스크 분석 및 리스크 정량화 모델 개발에 관한 연구)

  • Ahn, Sung-Jin;Kim, Tae-Hui;Nam, Kyung-Yong;Kim, Ji-Myong
    • Journal of the Korea Institute of Building Construction
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    • v.19 no.1
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    • pp.77-86
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    • 2019
  • Due to the increasing demand for and complexity of plant construction projects, unpredictable risk factors are on the consequent increase. For that reason, the quantitative risk analysis is being called for, in order for the development of a risk assessment model using risk indicators for the plant construction projects. This study used the claim payout data collected at a global insurance company to reflect the actual financial losses in plant construction projects as dependent variables in the risk assessment model. In terms of independent variables, the geographic information, i. e., landform, and the construction information including test-run, schedule rate, total cost and duration are adopted. In addition, this study suggests that the regression model containing such independent variables that are statistically significant can be applied to as a foundational guideline for the plant construction project risk analysis during the phase of construction and commissioning.

A Study on Issues and Tasks of Humanity and Social Science in a Fourth Industrial Revolution Era (제4차 산업혁명시대 인문사회학적 쟁점과 과제에 관한 연구)

  • Kim, Jin-Young;Heo, Wan-Gyu
    • Journal of Digital Convergence
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    • v.16 no.11
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    • pp.137-147
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    • 2018
  • To prepare for and implement policies for the Fourth Industrial Revolution, which is characterized by convergence, super-connectivity, and AI, this study summarized the effects and characteristics of individual technologies on our society and discussed the issues with humanity and social science perspectives. As a result, in terms of AI technology, the issues of job losses, project-type works, basic income and robot taxes, accountability of AI, and algorithm inequality were dealt with. Security, cyber hacking and privacy infringement issues were highlighted in big-data technology. In the part of block-chain and bioengineering, the society of decentralization, the concentration, digital divide, and ethical issues were discussed. On-demand economic aspects highlighted the problems of civil ethics and human commercialization. Lastly, the development of VR is discussed including side effects such as cyber-syndrom, avoidance of reality, and so on.

Study on Selection Criteria of Small-Scales Reservoirs for Emergency Action Plan(EAP) Establishment (소규모 저수지 대상 비상대처계획 수립 선정기준 연구)

  • Park, Ki-Chan;Choi, Kyung-Sook
    • Journal of The Korean Society of Agricultural Engineers
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    • v.61 no.3
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    • pp.101-112
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    • 2019
  • This study developed selection criteria of small-scales reservoirs, having under $300,000m^3$ storage capacity, for the Emergency Action Plan(EAP) establishment in order to reduce the disaster risks of the reservoir's failures. Those reservoirs are out of ranges of Korean EAP establishment standard, but have potential risk of disasters as they have often failed by the recent extreme rainfall events and earthquakes, causing economical and life losses. The problem of reservoir aging is also one of the reasons of them. In this study, the developed selection criteria of small reservoirs for EAP establishment are storage capacity, embankment height, reservoir age, heavy rain factor and earthquake factor. These criteria were selected based on the review of the existing EAP establishment guidelines, analysis of the past dam failure cases, and the previous related studies. The quantification of these criteria were conducted for the practical applications in the fields, and applied to 67 previous failures in order to investigate the relation of each criteria with these failures. The earthquake factor found to be the highest relations followed by heavy rain factors, combination of earthquake and heavy rain factors, and reservoir age. The classification was made as observation and review groups for EAP establishments based on overlapping numbers of each criteria. This classifications applied to 354 reservoirs designated as having the potential disaster risk by MOIS, and showed 38.4% of observation and 11.9% of review groups. Anticipatory monitoring and regular inspection should be made by professional facility managers for the observation group, and necessity of EAP establishment should be assessed for the review group based on the downstream status and financial budget.

Analysis of the Ripple Effect of the US Federal Reserve System's Quantitative Easing Policy on Stock Price Fluctuations (미국연방준비제도의 양적완화 정책이 주가 변동에 미치는 영향 분석)

  • Hong, Sunghyuck
    • Journal of Digital Convergence
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    • v.19 no.3
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    • pp.161-166
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    • 2021
  • The macroeconomic concept represents the movement of a country's economy, and it affects the overall economic activities of business, government, and households. In the macroeconomy, by looking at changes in national income, inflation, unemployment, currency, interest rates, and raw materials, it is possible to understand the effects of economic actors' actions and interactions on the prices of products and services. The US Federal Reserve System (FED) is leading the world economy by offering various stimulus measures to overcome the corona economic recession. Although the stock price continued to decline on March 20, 2020 due to the current economic recession caused by the corona, the US S&P 500 index began rebounding after March 23 and to 3,694.62 as of December 15 due to quantitative easing, a powerful stimulus for the FED. Therefore, the FED's economic stimulus measures based on macroeconomic indicators are more influencing, rather than judging the stock price forecast from the corporate financial statements. Therefore, this study was conducted to reduce losses in stock investment and establish sound investment by analyzing the FED's economic stimulus measures and its effect on stock prices.

The Economic Security System in the Conditions of the Powers Transformation

  • Arefieva, Olena;Tulchynska, Svitlana;Popelo, Olha;Arefiev, Serhii;Tkachenko, Tetiana
    • International Journal of Computer Science & Network Security
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    • v.21 no.7
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    • pp.35-42
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    • 2021
  • In the article, the authors investigate the economic security system in the conditions of the powers transformation. It is substantiated that economic security acts as a certain system that includes components and at the same time acts as a subsystem of the highest order. It is determined that the economic security system of regions acting as a system has its subsystems, which include: production, financial, environmental, innovation, investment and social subsystems. The parameters of the economic security system include relative economic independence, economic stability and self-development of economic systems, and it is proved that an important feature of economic security in addition to its systemic nature is multi-vector. It is substantiated that the monitoring of ensuring the economic security system of the development of economic systems of different levels in the conditions of the powers transformation should contain the analysis of social, economic and ecological development of regions; spheres of possible dangers of the development of regional economic systems; the nature of the threats; the degree of the possibility of threats; time perspective of economic development threats; possible consequences of losses for economic entities; the impact of threats to the object of the economic entities' activity; possible asymmetry of economic development of regional economic entities. Possible threats as a consequence of the powers transformation have been identified. A PEST analysis of the impact of factors of different nature on economic security and the development of regional economic systems in the powers transformation is carried out. A recurrent ratio is proposed for the economic security system in the conditions of the powers transformation.

Development of a Deep Learning Algorithm for Anomaly Detection of Manufacturing Facility (설비 이상탐지를 위한 딥러닝 알고리즘 개발)

  • Kim, Min-Hee;Jin, Kyo-Hong
    • Journal of the Korea Institute of Information and Communication Engineering
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    • v.26 no.2
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    • pp.199-206
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    • 2022
  • A malfunction or breakdown of a manufacturing facility leads to product defects and the suspension of production lines, resulting in huge financial losses for manufacturers. Due to the spread of smart factory services, a large amount of data is being collected in factories, and AI-based research is being conducted to predict and diagnose manufacturing facility breakdowns or manufacturing site efficiency. However, because of the characteristics of manufacturing data, such as a severe class imbalance about abnormalities and ambiguous label information that distinguishes abnormalities, developing classification or anomaly detection models is highly difficult. In this paper, we present an deep learning algorithm for anomaly detection of a manufacturing facility using reconstruction loss of CNN-based model and ananlyze its performance. The algorithm detects anomalies by relying solely on normal data from the facility's manufacturing data in the exclusion of abnormal data.

Investigation of the Potential Risk for Musculoskeletal Disorders in Migrant Workers (외국인근로자의 근골격계질환 발생가능성에 관한 연구)

  • Lim, Hyung-Duk;Rajitha Kawshalya, Mailan Arachchige Don;Nam, Ki-Hun
    • Journal of the Korean Society of Industry Convergence
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    • v.24 no.6_2
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    • pp.781-786
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    • 2021
  • Korean domestic workers are trend to avoid harmful and dangerous jobs calls 3D work due to the poor working conditions. Therefore, the incoming population of foreign workers is increasing to fulfill the required labor force. Mostly these foreign workers are placed in small and medium-size industries. As work that induces musculoskeletal disorders(WMSD) is equally exposed to domestic workers as well as foreign workers, this study attempted to investigate the work burdened by musculoskeletal disorders and derive improvement measures by understanding the actual conditions of the worksites of foreign workers. The result of this investigation defines that the possibility of developing musculoskeletal disorders is very high in the environment in which more than 40% of the respondents work with heavy objects and repetitive work of wrists and elbows. To prevent the symptoms of musculoskeletal disorders among foreign workers, three measures were proposed. To reduce the mandatory check-up period of WMSD under the Occupational Safety and Health Act, to revise the employment permit system, and to enhance the practical help of EPS education. Safety and health management of foreign workers is becoming an essential task not only for securing a workforce but also for the national image. Personal and economic losses at the national level should be minimized through policy support such as financial support for small and medium-sized businesses in Korea and supplementation of legal systems for the protection of foreign workers.

A Typo Correction System Using Artificial Neural Networks for a Text-based Ornamental Fish Search Engine

  • Hyunhak Song;Sungyoon Cho;Wongi Jeon;Kyungwon Park;Jaedong Shim;Kiwon Kwon
    • KSII Transactions on Internet and Information Systems (TIIS)
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    • v.17 no.8
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    • pp.2278-2291
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    • 2023
  • Imported ornamental fish should be quarantined because they can have dangerous diseases depending on their habitat. The quarantine requires a lot of time because quarantine officers collect various information on the imported ornamental fish. Inefficient quarantine processes reduce its work efficiency and accuracy. Also, long-time quarantine causes the death of environmentally sensitive ornamental fish and huge financial losses. To improve existing quarantine systems, information on ornamental fish was collected and structured, and a server was established to develop quarantine performance support software equipped with a text search engine. However, the long names of ornamental fish in general can cause many typos and time bottlenecks when we type search words for the target fish information. Therefore, we need a technique that can correct typos. Typical typo character calibration compares input text with all characters in a calibrated candidate text dictionary. However, this approach requires computational power proportional to the number of typos, resulting in slow processing time and low calibration accuracy performance. Therefore, to improve the calibration accuracy of characters, we propose a fusion system of simple Artificial Neural Network (ANN) models and character preprocessing methods that accelerate the process by minimizing the computation of the models. We also propose a typo character generation method used for training the ANN models. Simulation results show that the proposed typo character correction system is about 6 times faster than the conventional method and has 10% higher accuracy.

Effect of Pore Water Pressure on Slope Stability by Using Coupled Finite Element Analysis (연계해석(Coupled Analysis)에 의한 간극수압이 사면안정에 미치는 영향)

  • Shin, Jong-Ho;Kim, Hak-Moon;Jang, Kyung-Jun
    • Journal of the Korean Geotechnical Society
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    • v.25 no.2
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    • pp.25-35
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    • 2009
  • Slope failures are one of the significant disasters which causes lots of human casualties and huge financial losses every year. Previous researches on the slope failure have indicated that most accidents are closely related to the pore water pressure in the slope due to rainfall during the rainy seasons or stormy weather conditions. It would be therefore appropriate to consider the effect of pore water pressure in the design of slopes. As the existing slopes are generally reinforced by plants and other slope protecting measures, their boundary conditions are highly complicated. In this paper an attempt to develop a new modeling and analysis technique of slopes is proposed by including pore water pressure and adopting the coupled finite element method. Non-reinforced and reinforced slope models are considered. Representative analysis showed that the numerical modeling considering pore water pressure is appropriate in slope stability analysis. Flow behavior in the slopes is identified for various hydraulic boundary conditions. It is also shown that the effect of pore water pressure on slope stability is significant.

A Study on the Effectiveness of Investment Protection in North Korea (대북 투자보호의 실효성 제고 방안에 대한 고찰)

  • Hyun-suk Oh
    • Journal of Arbitration Studies
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    • v.33 no.2
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    • pp.53-83
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    • 2023
  • The investment agreement prepared at the beginning of inter-Korean economic cooperation in 2000 can be evaluated as very ineffective as a product of mutual political and diplomatic compromise rather than an effective protection for our investment assets. South Korean companies suffered a lot of losses due to the freezing of assets in the Geumgang mountain district and the closure of the Kaeseung Industrial Complex, but they did not receive practical damage relief due to institutional vulnerabilities. Currently, North Korea is under international economic sanctions of the UN Security Council, so it is true that the resumption of inter-Korean economic cooperation is far away, but North Korea's human resources and geographical location are still attractive investment destinations for us. Therefore, if strained relations between the two Koreas recover in the future and international economic sanctions on North Korea are eased, Korean companies' investment in North Korea will resume. However, the previous inter-Korean investment agreement system was a fictional systemthat was ineffective. Therefore, if these safety devices are not reorganized when economic cooperation resumes, unfair damage to Korean companies will be repeated again. The core of the improved investment guarantee system is not a bilateral system between the two Koreas, but the establishment of a multilateral system through North Korea's inclusion in the international economy. Specifically, it includes encouraging North Korea to join international agreements for the execution of arbitration decisions, securing subrogation rights through membership of international insurance groups such as MIGA, creating matching funds by international financial organizations. Through this new approach, it will be possible to improve the safety of Korean companies' investment in North Korea, and ultimately, it will be necessary to lay the foundation for mutual development through economic cooperation between the two Koreas.

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