• Journal of Science and Technology Studies
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• v.10 no.2
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• pp.143-174
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• 2010

How can a regulatory policy to address potential hazards be made legitimate in the face of scientific uncertainty? The precautionary principle has been gradually regarded as the most persuasive answer to this intricate question in Europe since the 1970s and generally recognized as a guiding principle in international environmental law. This principle, however, has often been subject to diverse concerns and criticisms due to its vague definition. This article tries to elaborate the precautionary principle while reviewing both the validity and unreasonableness of these criticisms over this principle. Then, this article explores the policy relevance of this principle by applying this elaborated definition to the concrete case of risk governance such as the risk assesment of food safety. In the end, this paper emphasizes the fact that the precautionary principle can be applied in the field of risk governance, refuting the argument that the precautionary principle is only a moral attitude or a political position.

• Journal of the Korean Institute of Gas
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• v.25 no.1
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• pp.30-39
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• 2021

Natural gas is globally emerging as an important energy source for environmental, political and regional reasons. In Korea, natural gas imported from oversea natural gas resources as a LNG, it is increased for an applications as a fuel and feedstock which replace the coal and nuclear energy. Because it is relied on the import market in Korea, it is very important to analyze the security for supply. Therefore, this study suggested a method for reducing supply risk and for providing stable supply and demand through risk analysis of Korea's import structure. In order to reduce the supply risk, the concentration of importing countries should be lowered and it is necessary to lower the proportion of countries with relatively low GSSI and increase the imports from Russia. Finally increasing the number of importing countries or maintaining friendly relations with countries where the supply is stable could give us the positive impact in terms of total GSSI.

• Journal of Service Research and Studies
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• v.8 no.3
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• pp.1-23
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• 2018

This study suggests a way through Hong Kong as an alternative strategy for Korean companies to enter Chinese service market which is rapidly expanding due to China's recent policy switch toward service economy. Service market is generally more regulated, labor-intensive, and domestic demand-oriented than goods market, which makes opening of domestic markets to foreigners slow. In case of China, market control and regulations by the State is tighter than other economies. Therefore, it is important to find ways to avoid regulations from the Chinese government if possible. In this sense, this study investigates the China-Hong Kong CEPA and draws its strategic value for entering Chinese service market by comparing it with the Korea-China FTA service sector. In addition, utilizing the difference in tax agreements between Korea-China and China-Hong Kong, and the human network of Hong Kong entrepreneurs in China may play an important role in reducing the risk that might arise in China.

• Environmental and Resource Economics Review
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• v.28 no.4
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• pp.617-643
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• 2019

The Demilitarized Zone(DMZ) is a buffer zone set between the southern and northern limit lines established after the 1953 Armistice Agreement. It is an important natural environment conservation area where wild species of animals and plants live. On the other hand, the development pressure on the DMZ will increase when the inter-Korean economic cooperation is activated in the future. As a result, DMZ development should consider not only the economic cost-benefit aspects, but also how to assess and conserve the biodiversity of the DMZ, as well as the recovery costs and budget. This paper develope a sustainable DMZ management model under biodiversity uncertainly by using real option approach. The model is also designed to reflect the political risk and regional specificity of the DMZ. Through empirical analysis, I derive the biodiversity threshold (b^*) that can secure the DMZ investment economy under uncertainty. In addition, through the sensitivity analysis, I derive the factors influencing the biodiversity threshold, and suggest the policy implications for sustainable management of DMZ.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.26 no.4D
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• pp.635-647
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• 2006

Korean construction companies first advanced to the international markets in 1960's and so far have brought more than 4,900 projects which account for 193 billion dollars approximately. With the large increase of national employment and income being followed by the achievement, Korea's construction industry has made an enormous contribution to the improvement of domestic economy for the last 40 years. However, recently the increased risk in international markets as well as the sharpening competition with foreign companies promising in terms of advanced technologies and low labor cost have been driving Korean construction away from the market shares. According to ENR (Engineering News Record, 1994~2003), it is revealed that 15.1% of top 225 global contractors are suffering from loss in international construction markets. This phenomenon is largely due to the highly uncertain characteristics of international projects, which are inherently exposed to various and complicated risky situations. Furthermore, especially for Korean construction companies, it is often the case that the failure in an international construction project cannot be offset by even a sufficient number of successful domestic achievements. Therefore, not only the selective screening among the nominated projects which have strong possibility of collapse but the systematic strategies for controlling potential risk factors are also considered indispensable in international construction portfolio management. The purpose of this study is to first analyze the causal relationships of the profit-influencing variables and the project success, and develop the profitability forecasting model in international construction projects.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.119-128
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• 2008

Recently, because of the economic slump on the national construction market, enterprises are making a ceaseless effort on participating in the competitiveness enforcement, internationalization and globalization. As this firm has found a larger market abroad and took part in great and small services since 2003, successful services are going under construction in USA, Mongolia and Guam. In this case study, looking around the on-going projects, the analysis and solutions of the differences of the counter attitude and matters resulted from politic, economical, social and cultural gaps are proposed. This study is helpful to enterprises which are planning to extend its business abroad and which want to take part in global standards.

• Journal of Korea Port Economic Association
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• v.32 no.4
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• pp.29-39
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• 2016

As geopolitical, archaeological and strategic interests on cooperation with countries in the Far Eastern Area is gradually increased, countries are competing to attract or install a logistics or manufacturing hub in their countries. In this study, we investigated the relative importance of factors on the main three and nine detailed criteria from the domestic and overseas experts on Far Eastern Area. Using AHP(Analytic Hierarchy Process) analysis, priority importance of factors was derived. As a result, we find that the most important factor was economic factor. In detail, industrial complex creation was the highest factor and the institutional guarantees for the investment on policy and transportation network was second highest factor. Based on analysis result, specific competitiveness level in the 10 region of Far East was follows. Hunchun, Vladivostok, Yanji, Tumen, Rajin, Hassan, Ussuriysk, Cheongjin, Mihaylov Skiing, Nije Jeuchinski were showed in order. Hunchun showed the highest competitive level in location, topography, compliance to the around cities, transportation network, industrial complex, excellence in logistics facilities, long-term investment plans, institutional guarantees for investment, customs efficiency and political stability. However, in other factors such as population and number of households, public facilities, potential demand and resource utilization, Vladivostok showed the highest level.

• Journal of Distribution Science
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• v.7 no.2
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• pp.5-28
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• 2009

As a result of this study only a few Korean firms have a certain management methods designed to predict the possibility of risk occurrence and establishment of systematic countermeasure. Besides, the Korean firms do not have enough data on the risk of Chinese Market. The risk management department inside the firm does not function efficiently, and when it comes to investigation of risk, it heavily depends on that of local branches. Accordingly, in order to accurately recognize and manage, the firms need to not only specialize risk management department but also outsource by using a consulting firm.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.6
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• pp.43-54
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• 2020

This paper investigates the causal impact of the increase in institutional distance between two geographic regions on the flow of cross-border Venture Capital (VC) between the regions. While cross-border VCs are believed to have competitive advantages at identifying and managing promising startups in a local market compared to local counterparts, the discrepancy in institutional characteristics between two markets exacerbates the difficulty of credible information exchange and negotiation, significantly increasing transaction cost related to a cross-border venture capital investment. This study conducts a difference-in-difference analysis to examine the relationship between institutional distance and the flow of cross-border VC investment using the fact that the official adoption of the Euro currency by member countries of the European Union except the UK created an institutional chasm between the UK and other EU member countries. The outcomes of the analysis suggests that UK-based VCs significantly decreased the VC investment into EU-based startups and that EU-based VCs reduced the investment into UK-based startups. The results have meaningful implications for understanding the impact of the change in institutional difference on cross-border VC investment, which seems to increasingly take place with the recent trend of de-globalization and the rise of protectionism.

• International Commerce and Information Review
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• v.9 no.1
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• pp.403-425
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• 2007

The sudden emergence of China as a superpower in world politics and economics is apparently a big surprise. This, however, is not an unusual incident. As far as the Chinese are concerned, they say that China is simply running almost the same track that its neighboring countries. In the recent years, a number of experts and scholars have expected that the emergence of China as a great economic power will be argued as a major issue in world politics and economics. So its economic progress will require experts and scholars to watch carefully how China is going to change. It certainly has created an atmosphere that most of the world leaders, experts and scholars are very concerned about China's remarkable performance in its economics and then willing to accept China's rapid growth as an urgent matter. Many experts and scholars began to analyze carefully the factors that have contributed to the rapid growth. Foreign direct investment (FDI), import-export, and economic reform were then listed as the most important factors. As a result, philosophy of economics, analytical economics, and economics are immediately needed for China who is at the moment very anxious to sustain the stable and continuity of rapid economic growth. But unfortunately China does not even recognize the reason why they need to adopt these economic concepts and methods.