• Journal of Arbitration Studies
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• v.34 no.2
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• pp.45-64
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• 2024

In international transactions, a demand guarantee is commonly used as a so-called independent bank guarantee to protect against the other party's default under, or breach of, contract). However, there is a risk that the independence and the documentary character of the demand guarantee may be abused by the beneficiary of the guarantee, who may fall into the temptation to demand or call for payment under the guarantee by preparing documents that appear to constitute a complying demand for payment, even though the demand has no conceivable basis. In Korea, through case law, a legal rule has been developed to prevent such abusive calls for payment. This paper examines how such rule that prohibits abuse of rights is applying in the context of counter-guarantees. To this end, this paper first considers the concepts of a demand guarantee and a counter-guarantee and the basic legal principles applicable thereto. And then this paper considers abusive calls under the guarantees, that exceptionally works as grounds for refusal of payment by guarantors and counter-guarantors, further looking at some situations in which the calls amount to be abusive under counter-guarantees in particular.

• Journal of the Korean Society of School Health
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• v.30 no.3
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• pp.284-294
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• 2017

Purpose: Along with the country's decreasing birth rate, many South Korean women are currently facing the issue of high risk pregnancy. Despite the increasing number of women who prefer to get married at an older age, fewer of them are aware of how to prepare for healthy pregnancy at such age. The following study has been conducted to check the level of awareness and educational demand regarding healthy pregnancy among female university students who are not majoring in medical fields. Methods: Google Forms was used to survey 245 female students attending a university located in the Province of Gyenongi. We asked about their attitudes to and knowledge of pregnancy, their lifestyle, and the demand for pregnancy education. Results: The average age of the participants was 20.4 years. Although the majority of the correspondents answered that they have received education about pregnancy before, many of them displayed a low level of knowledge regarding pregnancy. On contrast, the demand for education about pregnancy and high risk pregnancy was high. Conclusion: For healthier pregnancy and childbirth, more preparation is needed before entering pregnancy. Management programs to be given prior to pregnancy should be developed to promote the knowledge and awareness of healthy pregnancy.

• Journal of Korea Water Resources Association
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• v.57 no.1
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• pp.45-58
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• 2024

Drought risk is expected to increase as the frequency, intensity, and duration of droughts increase due to climate change. Drought risk is related to not only hydro-meteorological factors, but also water supply and demand. Recently, along with climate change, socioeconomic factors have also been recognized to increase drought risk. Therefore, it is necessary to outlook the drought risk considering various conditions for coping with future extreme droughts in a timely manner. In addition, considering various drought scenarios help reduce the uncertainty in future drought outlook. In this study, drought scenarios considering climate change scenarios, population, and water demand were created to outlook drought risk for 160 administrative districts in Korea, then new levels of drought risk were assigned based on the results of drought risk outlook to suggest drought management measures. The results showed that the drought risk will increase in the future in 2020, 2025, and 2030, compared to past. Especially the drought risk is likely twice as high in 2030 under the baseline and high scenarios. Applying the drought outlook results from this study to the new methodology for setting the risk levels shows that most regions are in Response (V) in 2020 and 2030 for baseline and high scenarios.

• Earthquakes and Structures
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• v.17 no.1
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• pp.91-99
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• 2019

Fragility analysis is an effective tool that is frequently used for seismic risk assessment of bridges. There are three different approaches to derive a fragility curve: experimental, empirical and analytical. Both experimental and empirical methods to derive fragility curve are based on past earthquake reports and expert opinions which are not suitable for all bridges. Therefore, analytical fragility analysis becomes important. Nonlinear time history analysis is commonly used which is the most reliable method for determining probabilistic demand models. In this study, to determine the probabilistic demand models of bridges, time history analyses were performed considering both material and geometrical nonlinearities. Serviceability limit states for three different service velocities were considered as a performance goal. Also, support displacements, component yielding and collapse limits were taken into account. Both serviceability and component fragility were derived by using maximum likely hood methods. Finally, the seismic performance and critical members of the bridge were probabilistically determined and clearly presented.

• International Journal of Naval Architecture and Ocean Engineering
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• v.8 no.3
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• pp.262-276
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• 2016

Generally, the Safety Integrity Level (SIL) of a subsea Blowout Preventer (BOP) is evaluated by determining the Probability of Failure on Demand (PFD), a low demand mode evaluation indicator. However, some SIL results are above the PFD's effective area despite the subsea BOP's demand rate being within the PFD's effective range. Determining a Hazardous Event Frequency (HEF) that can cover all demand rates could be useful when establishing the effective BOP SIL. This study focused on subsea BOP functions that follow guideline 070 of the Norwegian Oil and Gas. Events that control subsea well kicks are defined. The HEF of each BOP function is analyzed and compared with the PFD by investigating the frequency for each event and the demand rate for the components. In addition, risk control options related to PFD and HEF improvements are compared, and the effectiveness of HEF as a SIL verification for subsea BOP is assessed.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.595-605
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• 2021

The objectives of this research are to see if the phenomena of "demand following" and "supply leading" exist in the business cycle, as well as to look at how liquidity and output react to changes in credit risk, investment-saving gap, inflation, exchange rate, and growth rate of real national output. Employing quarterly data of Maluku and North Maluku (2008-2019), this study utilizes VAR/VECM for inferential analysis. This research found three important findings. First, liquidity and output growth influenced each other in the long run. Second, the determinants of output growth for Maluku are liquidity, investment-saving gap, and inflation, while the determinants of liquidity are output-growth, the gap of investment-saving, and inflation. Third, the determinants of output growth for North Maluku are liquidity, credit risk, investment-saving gap, inflation, exchange rate, and the national output-growth, while the determinants of liquidity are output-growth, credit risk, investment-saving gap, inflation, exchange rate, and national output-growth. The findings of this study supported the hypothesis of demand following and supply leading theory in the Maluku and North Maluku business cycles. This study concludes that economic development would improve if supported by liquidity adequacy through increased deposit growth.

• Journal of the Korean Society of Safety
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• v.28 no.4
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• pp.81-90
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• 2013

To meet increased demand and lead to execution of successful overseas's plant construction, A prompt System is urgently needed to carries prevention and control of hazards associated with work related tasks and activities. This study is aimed to develop efficient and reliable safety management program to identify control measures for high risk activities by choosing and conducting proper risk assessment methodology that addresses Risk Priority Number(RPN) of adverse effects.

• Proceedings of the KSR Conference
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• 2001.05a
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• pp.44-51
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• 2001

To account for uncertainties involved in an economic analysis of project, sensitivity analysis are usually being done in Korea. Though useful for policy analysis, but it larks explicit consideration of probability of occurring certain events considered in the sensitivity analysis. Risk analysis otherwise can explicitly account for the probability of certain event which has dire impact on project viability, such as cost, discount rate, and size of benefit. This paper reports experience of applying risk analysis method for economic evaluation of railroad investment. Probability distribution of event has paramount impact on the risk analysis results, while not many prior researches dealt with these issues. Probability distribution of rolling stock cost and operating cost, in addition to those cost variables, are developed considering railway demand in this study. Case study results are reported. Issues in applying risk analysis are reported in addition to further research direction.

• Proceedings of the Korea Water Resources Association Conference
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• 2019.05a
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• pp.397-397
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• 2019

With the consequences of climate change becoming more evident, research on climate-associated risks has become a basis for climate adaptation and mitigation. Amongst the different sectors and natural resources considered in assessing such risks, drought is one impact to our environment that experiences stress from climate change but is often overlooked and has the potential to bring severe consequences when drought occurs. For example, when temperatures are higher, water demand increases and water supply decreases; when precipitation patterns fluctuate immensely, floods and droughts occur more frequently at greater magnitudes, putting stress on ecosystems. Hence, it is important for us to evaluate drought risk to observe how different climate change and socioeconomic scenarios can affect this vital life resource. In this study, we review the context of drought risk on the basis of climate change impacts and socioeconomic indicators. As underlined in the IPCC AR5 report, the risks are identified by understanding the vulnerability, exposure, and hazards of drought. This study analyzed drought risk on a global scale with different RCP scenarios projected until the year 2099 with a focus on the variables population, precipitation, water resources, and temperature.

• Economic and Environmental Geology
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• v.56 no.2
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• pp.155-166
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• 2023

Through COVID-19, the importance of supply chain management of raw material minerals has been maximized. In particular, supply chain management is important for rare metals, which are difficult to manage demand and supply, in order to secure raw materials for the parts and materials industry that Korea is actively promoting. In this study, a system was established and evaluated to select Critical minerals that need to respond to Korea's industrial structure and global risks by quantifying tangible and intangible risk factors. Global Supply Concentration, Supplying country risk, Policy Social Environment Regulation, Domestic Import Instability, Risk responsiveness, Market Scale, Demand Fluctuation and Economic Importance were evaluated as evaluation indicators. The degree of risk and risk impact were quantitatively measured using the criticality matrix-criticality level. After evaluating 40 types of minerals used in domestic new growth businesses, 15 types of Critical minerals(Li, Pt, Co, V, REE, Mg, Mo, Cr, Ti, W, C, Ni, Al, Mn, Si) in Korea were selected. The results are expected to be used to establish policies to strengthen resource security and to make decisions to form a company's raw material portfolio.