• The Transactions of The Korean Institute of Electrical Engineers
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• v.60 no.1
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• pp.32-35
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• 2011

The economic value of a wind farm project is influenced by various risk factors such as wind power output and electricity market price. In particular, there is uncertainty in the economic evaluation of a wind farm project due to uncertain wind power outputs, which are fluctuated by weather factors such as wind speed, and volatile electricity market prices. This paper presents a systematic method to assess the economic value and payback period of a wind farm project using Least Square Monte-Carlo (LSMC) simulation. Numerical example is presented to validate the effectiveness of the proposed economic assessment method for a wind farm project.

• Proceedings of the KSEEG Conference
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• 2000.04a
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• pp.59-60
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• 2000

• Korean Journal of Human Ecology
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• v.19 no.4
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• pp.675-685
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• 2010

This study analyzed risk perception and risk reduction behaviors of male and female college students in their twenties who purchased fashion products in internet shopping malls. It also investigated the relationship between risk perception and risk reduction behavior as well as the ways in which groups, categorized by risk perception, differed in their risk reduction behaviors. The results of this study were as follows: first, seven factors of risk perception were identified. These were product quality, shipping, product image, payment, economic feasibility, fear of other people's reactions, and size. Six types of risk reduction behavior were also identified. These were product comparison, word-of-mouth information search, price search, preference for name-brand, service comparison, and referring to experiences. Next, a correlational analysis of the factors of risk perception and those of risk reduction behavior showed several patterns. The highest positive correlation was between economic risk perception and product comparison behavior. In addition, shipping risk perception was positively correlated with service comparison behavior and product quality and product image had a positive correlation with word-of-mouth information search behavior. Third, customers of internet shopping malls could be categorized into three groups: shipping risk perception group, high risk perception group, and product quality risk perception group. The groups were shown by factor analysis to be significantly different to each other. Finally, risk reduction behavior was investigated according to the different groups of risk perception of the internet shopping malls and the results showed significant differences among groups.

• The Korean Journal of Franchise Management
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• v.9 no.4
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• pp.45-56
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• 2018

Purpose - Consumers perceive various risks while using food service franchise stores. Food service franchise stores offer consumers not just menus, but services, physical environment, and prices, which can be perceived as risk to consumers. This means that consumer behavior in foos service franchise stores needs to be studied based on perceived risk theory. Perceived risk consists of performance risk, financial risk, social risk, psychological risk, and time risk. The purpose of this study is to investigate the effects of perceived risk on satisfaction and trust, and in turn affect loyalty. The results of this study will provide guidelines for marketers to develop strategies to reduce the perceived risk of consumers. Research design, data, methodology - In order to achieve research purposes, the authors developed several hypotheses. Data were through online survey through an online survey firm. A questionnaire survey was distributed to customers who have visited the restaurant in the past three months. The survey was conducted from March 5, 2017 to October 14, 2017. A total of 1,500 people were e-mailed and 260 were returned. A total of 245 items were used in the analysis except 15 of the questionnaire. Data was analyzed by using SPSS 21.0 and AMOS 21.0. Results - The findings of this study are as follows: First, performance risk, economic risk, and psychological risk had negative effects on satisfaction. Social and time risks did not affect on satisfaction. Performance risk and time risk had negative impact on trust. Second, economic, social, and psychological risks did not affect trust, but satisfaction had significant positive effect on trust and loyalty. Third, satisfaction had positive effect on loyalty. Conclusions - The implications of this study are as follows. First, food service franchise marketers should increase their customer loyalty by establishing a risk reduction strategy. Second, there are various risks to customers visiting the store. Therefore, marketers need to analyze the perceived risks of customers. Third, it is also necessary to eliminate the perceived risks of customers. In addition, a restaurant franchise company needs to find a reasonable way to reduce the material cost and present a reasonable menu price.

• Earthquakes and Structures
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• v.13 no.3
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• pp.323-335
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• 2017

A simplified framework for the probabilistic estimation of economic losses induced by the structural vulnerability in single-story and single-bay precast industrial buildings is presented. The simplifications introduced in the framework are oriented to the definition of an expeditious procedure adoptable by government agencies and insurance companies for preliminary risk assessment. The economic losses are evaluated considering seismic hazard, structural response, damage resulting from the structural vulnerability and only structural-vulnerability-induced e]conomic losses, i.e., structural repair or reconstruction costs (stock and flow costs) and content losses induced by structural collapse. The uncertainties associated with each step are accounted for via Monte Carlo simulations. The estimation results in a probabilistic description of the seismic risk of portal-like industrial buildings, expressed in terms of economic losses for each occurrence (i.e., seismic event) that owners (i.e., insured) and stakeholders can use to make risk management decisions. The outcome may also be useful for the definition of the insurance premiums and the evaluation of the risks and costs for the owner corresponding to the insurance industrial costs. A prototype of a precast concrete industrial building located in Mirandola, Italy, hit by the 2012 Emilia earthquake, is used as an example of the application of the procedure.

• Journal of Arbitration Studies
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• v.15 no.3
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• pp.267-301
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• 2005

Following the increased economic corporations between the South and North Korea, many companies participate the corporation program. They needs insurance policy as a scheme for the transfer of risk from those individual company to it to an insurer. This paper review the possibility of the North Korea insurance authorities and research the origin, history, structure and context of the North Korea insurance law. The North Korea Insurance law differ from the South Korea and China's. North Korea Insurance authority has not capability of doing insurance business both side of underwriting and indemnity. Partly, it caused the uncertainty, insufficient and vague of the insurance law. The writer conclude that the North Korea insurance law faced to the needs of modernization. Especially, the Gyesung Industrial Complex Insurance Regulation couldn't cover the investor and company's risk because it is not based on the nature and basic principles of insurance.

• The Korean Journal of Food And Nutrition
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• v.36 no.4
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• pp.286-295
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• 2023

The purpose of this study was to investigate the association between household economic changes by COVID-19 and dietary habits in Korean adolescents. The study analyzed data from the 17th Korea Youth Risk Behavior Survey in 2021. A total of 54,848 middle and high school students, 28,401 males and 26,447 females, participated in this study. COVID-19 lead to deterioration of household economy in the lower level of household economic status (p<0.001). The deterioration of household economic status by COVID-19 was associated with dietary habits such as lower breakfast intake, and higher fast food, soda drinks, and sweet drinks consumption (p<0.001). Logistic regression analysis showed that deterioration of household economic status was significantly decreased in frequency of breakfast intake (OR: 0.73, 95% CI: 0.67~0.80). The deterioration of household economic status by COVID-19 was also significantly associated with increased frequency of fast food (OR: 1.28, 95% CI: 1.16~1.41), soda drinks (OR: 1.42, 95% CI: 1.30~1.56) and sweet drinks (OR: 1.35, 95% CI: 1.24~1.46) consumption (p<0.001). In conclusion, it was confirmed that the change in household economy caused by COVID-19 was associated with dietary habits in adolescents. As the household economy deteriorated, there was an increase in undesirable dietary habits including skipping breakfast and fast food consumption.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.49 no.4
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• pp.459-468
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• 2013

In the application of the ecosystem-based fisheries assessment Jeonnam marine ranching ecosystem, two fisheries, funnel fishery and trap fishery, were selected as target fisheries. Black seabream, Acanthopagru schlegelii, rock bream, Sebastes inermis, gray mullet, Mugil cephalus, were selected as target species for the funnel fishery, and conger eel, Conger myriaster, was target species for the trap fishery. For assessing indicators of four management objectives, that is the maintenance of sustainability, biodiversity, habitat quality and socio-economic benefits, indicators were selected considering the availability of data, which were 5 indicators for sustainability, 3 indicators for biodiversity, 4 indicators for habitat, 2 indicators for socio-economic benefit. The Objective risk indices for sustainability and biodiversity of two fisheries were estimated at yellow zone, medium risk level. The objective risk indices for habitat and socio-economic benefit were estimated at green zone, safe level. The species risk indices (SRI) were estimated at yellow zone. The fishery risk indices (FRIs) were estimated at 1.143 and 1.400 for funnel net fishery and trap fishery, respectively. Finally the ecosystem risk index estimated at 1.184.

• Nuclear Engineering and Technology
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• v.21 no.3
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• pp.171-185
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• 1989

On the basis of equal health hazard risk, economic assessment of nuclear was compared with that of coal for the expansion planning of electric power generation in the year 2000. In comparing health risks, the risk of coal was roughly ten times higher than that of nuclear according to various previous risk assessments of energy system. The zero risk condition can never be achievable. Therefore, only excess relative health risk of coal over nuclear was considered as social cost. The social cost of health risk was estimated by calculation of mortality and morbidity costs. Mortality cost was ＄250,000 and morbidity cost was ＄90,000 in the year 2000.(1986US＄) Through Cost/Benefit Analysis, the optimal emission standards of coal-fired power generation were predicted. These were obtained at the point of least social cost for power generation. In the year 2000, the optimal emission standard of SOx was analyzed as 165ppm for coal-fired power plants in Korea. From this assessment, economic comparison of nuclear and coal in the year 2000 showed that nuclear would be more economical than coal, whereas uncertainty of future power generation cost of nuclear would be larger than that of coal.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.2
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• pp.685-693
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• 2021

This study examined the fire risk of the region in Goyang City using the spatial information data of buildings. The economic damage by industry was assessed according to the probability of fire risk. The study area was confined to Goyang-si, Gyeonggi-do, and the same fire risk reduction rate was applied to each region for the convenience of analysis. The possibility of fire was derived based on the buildings' density and usage in the area by National GIS building-integrated information standard data. The calculation of economic damage by industry in Goyang City due to the fire risk was calculated by combining the Goyang-si industry-related model produced by matching with 30 industrial categories in Input-Output Statistics of Korea Bank and 20 industrial categories in the Goyang-si business survey and the possibility of fire. The basic scenario of production impossibility during six months and business loss due to fire was established and analyzed based on the supply model. The analysis showed that Ilsan-dong-gu, Ilsan-seo-gu, and Deokyang-gu suffered the most economic damage. The "electricity, gas, steam, and water business" showed the greatest loss by industry.