• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.61
• /
• pp.273-302
• /
• 2014

Project finance ("PF") is a method of raising long-term debt financing based on lending against the cash flow generated by the project alone. Project finance is a nonrecourse or limited recourse financing structure against the sponsors(or the investors). The debt terms in a project finance are not based on the creditor's credit support or on the value of the assets of the project. Lenders rely on the future cash flow to be generated by the project for debt repayment and interest, rather than the value of the project or the credit ratings of the sponsors. The non-recourse or limited recourse financing usually prompt potential project finance lenders to assess carefully all possible risks that might arise in a project to ensure that those risks are mitigated and controlled. In this respect, project finance is a opposite financing method of corporate finance. Project finance has rapidly grown over the last 20 years due to the worldwide process of privatization of public sector and development of natural resources. Global project finance volume reached the record USD 406.5 billion in 2011. In 2012, however, Global project finance volume dropped 6% to USD 382.3 billion. Infrastructure overtook Energy to lead all sectors with USD 113.6 billion. It is generally recognized that there are more and higher risks in project finance compared with corporate finance. Project finance is exposed to commercial risks as well as political risks. The main commercial risks are completion risks, environmental risks, operating risks, input supply risks, revenue risks, etc, and the main political risks are currency convertibility and transfer risks, expropriation risks, war and civil disturbance risks, risks of breach of government concession agreement, etc. Completion risks include permits risks, risks relating to the EPC Contractor, construction cost overrun, delay in completion, inadequate performance on completion, etc.

• Journal of Digital Convergence
• /
• v.15 no.12
• /
• pp.111-126
• /
• 2017

Korea came to see its first internet bank as 'K bank' obtained the digital-only banking license in December 2016. This paper suggests ways to foster internet banks of Korea in their early stage by analyzing the successful cases of overseas internet banks. The followings are the key success factors identified from those cases across Europe, Japan, China, and USA: Support from the related government authorities; Stable governance structure; Distinct business capabilities based on information & communications technology(ICT). These points lead to the following implications for Korean internet banks. Regulatory restrictions on owning and running internet banks should be lifted to facilitate innovation. Policies to support internet bank industry should be introduced as it is a vital part of the 4th industrial revolution. Finally, internet banks should strive to differentiate themselves by utilizing their ICT capabilities. Subjects of the further research hereafter should include the following: Analyzing the ongoing performance and developments of digital banks in Korea; Deriving success factors from the analysis; Assessing the influence and effects on financial market and economic environment.

• Journal of Digital Convergence
• /
• v.18 no.1
• /
• pp.11-21
• /
• 2020

This paper analyzed the statistical status of public properties, management organization, operational performance focused on Gyeonggido. And This paper tried to get some implications through comparative analysis of public property management system of Gyeonggido and other local governments including Seoul, Incheon. The survey was also conducted on the whole practitioners of public property management in Gyeonggido. As a result of analysis, although Gyeonggido has an urgent need to raise funds because financial independence is insurfficient, non-tax revenues from it's own public properties are insignificant compared to holdings. The major reason would be pointed out that the dedicated management department on public property is not composed and lack of workforce. The survey results conformed that establishment of the dedicated department to public property management is urgent by reorganization of management structure for the higher operational performance.

• Proceedings of the Korea Association of Information Systems Conference
• /
• 2000.11a
• /
• pp.1.2-24
• /
• 2000

The field of neural networks has been a recent surge in activity as a result of progress in developments of efficient training algorithms. For this reason, and coupled with the widespread availability of powerful personal computer hardware for running simulations of networks, there is increasing focus on the potential benefits this field can offer. The neural network may be viewed as an advanced pattern recognition technique and can be applied in many areas such as financial time series forecasting, medical diagnostic expert system and etc.. The intention of this study is to build and implement one simple artificial neural networks hereinafter called ANN. For this purpose, some literature survey was undertaken to understand the structures and algorithms of ANN theoretically. Based on the review of theories about ANN, the system adopted 3-layer back propagation algorithms as its learning algorithm to simulate one case of medical diagnostic model. The adopted ANN algorithm was performed in PC by using turbo PASCAL and many input parameters such as the numbers of layers, the numbers of nodes, the number of cycles for learning, learning rate and momentum term. The system output more or less successful results which nearly agree with goals we assumed. However, the system has some limitations such as the simplicity of the programming structure and the range of parameters it can dealing with. But, this study is useful for understanding general algorithms and applications of ANN system and can be expanded for further refinement for more complex ANN algorithms.

• Korean Journal of Community Nutrition
• /
• v.8 no.6
• /
• pp.919-926
• /
• 2003

The purpose of this study is to examine the current congregate meal service program for homebound elderly. One hundred three meal service centers in charge of the congregate meal service programs as part of the elderly foodservice program were surveyed for administrative structure, menu management, food purchasing and production management, hygiene, equipment, and facilities. Statistical data analyses were completed using the SAS 8.1 program for descriptive analysis and ANOVA. The meal cost of 54.4% of the congregate meal service centers ranged from ￦l,500 to ￦l,999 per meal. According to the menu analysis, all nutrients except calcium and Vitamin B2 were at levels of more than 33% of the Recommended Dietary Allowances for Koreans. A total of 81.5% of the centers were operated without the services of a dietitian, and food purchasing, menu planning and other foodservice management processes were handled by non-professionals, such as volunteers, cooks or social workers. Although 88.3% of the centers required a therapeutic diet menu for the health of the elderly, most directors (77.6%) replied that in their current status they could not afford to serve therapeutic diets. These results suggest that financial and systematic supports by government is very necessary. Fifty-five percent of the centers never used standard recipes. For determining portion sizes, 93.2% of the congregate meal service centers depended on the personal experience of the personnel. Finally, the current congregate meal services for the homebound elderly were not operated systematically. To improve the elderly food service program, it is strong1y recommended that it be managed by Professionals.

• Journal of the Korean Data and Information Science Society
• /
• v.24 no.1
• /
• pp.161-170
• /
• 2013

The FX (Foreign Exchange) is a form of exchange for the global decentralized trading of international currencies. The simple sense of Forex is simultaneous purchase and sale of the currency or the exchange of one country's currency for other countries'. We can find the consistent rules of trading by comparing the gradient boosting method and the decision trees methods. Methods such as time series analysis used for the prediction of financial markets have advantage of the long-term forecasting model. On the other hand, it is difficult to reflect the rapidly changing price fluctuations in the short term. Therefore, in this study, gradient boosting method and decision tree method are applied to analyze the short-term data in order to make the rules for the revenue structure of the FX market and evaluated the stability and the prediction of the model.

• Journal of the Korean Geographical Society
• /
• v.37 no.1
• /
• pp.61-74
• /
• 2002

In late 1980s, many suburban cities in Tokyo metropolitan area have tried to construct office parks, such as Makuhari New Town, Minato Mirai 21 to promote knowledge based economy. As the most important player of this mesa project, the local government mobilized local resources from various private sectors. The local government adopted place marketing strategy to attract companies and consumers with thick pocket. The composition of this strategy embraces publicity, uniqueness, centrality of function and information and comfortability for formation of the office park. Headquarters and producer service offices were relocated in the suburban office parks for the first time in the history of modem Tokyo since 1920s. Although it is the ongoing project that encounters some financial difficulties, the office park Project will be a sound foundation for future growth of knowledge-based economy.

• Korean Journal of Construction Engineering and Management
• /
• v.11 no.1
• /
• pp.38-47
• /
• 2010

Builders in Korea are facing significant challenges in the midst of deteriorating market conditions resulting from recent financial crunch and slumping housing sales, etc. To address such changes in management landscape, enterprise organizations need to build an efficient corporate management organization than can ensure prompt and flexible response to changes in surroundings. However, most of them base their management organization on business type and volume due to insufficient understanding and analysis of organization. Top 30 construction companies in Korea have their own management organizations and business structures let alone different competitive edges and challenges. Therefore, this paper attempts to examine the current status of management and organization of construction companies to understand their operational achievements and organizational features in and effort to develop an efficient management strategy and provide inputs contributory to establishment of corporate management organization.

• Korean Journal of Construction Engineering and Management
• /
• v.11 no.1
• /
• pp.113-121
• /
• 2010

Since the cut-down of the purchasing price of the feed in tariff(FIT) in 2008, the numbers of photovoltaic projects get decreased, contrary to investment expansion policy of government on renewable energy. The root cause of the decrease is the irrationality of the current purchasing price structure of FIT as well as the adversity of fund raising due to the global financial crisis. This study proposes the FIT calculating model (Cost & Benefit Risk Based Purchase Price Process : CBRP3) reflecting the fluctuation of cost and benefit risks. The first step is to establish the photovoltaic generation alternatives, and to calculate each distribution data of the investment and the power generation quantity. The FIT for each alternative is, then, assessed through simulations. Finally the proposed FIT scheme is compared to the present FIT scheme and future study subjects are derived.

• Journal of Korea Port Economic Association
• /
• v.26 no.4
• /
• pp.101-121
• /
• 2010

Domestic trucking transportation market does not have only the poor business environment but also the serious defects on the transportation trading structure. It makes weaken the competitiveness of trucking industry and hinders the development of trucking industry. The problems of trucking industry such as the recession of the Korean economy and decrease of the trucking charge cause the truck drivers suffer. Korean government and national assembly try to change the law of truck transportation business. The suggested law includes the obligation of trucking information networking system and it can make the transportation business structures more efficiently. This article deals with the strategies for the establishment of trucking transportation networking system and examines the cost-benefit analysis assuming the four demand senario. The results suggest the establishment of the information system not based on the individual trucking industry but on the joint industry at the level of the local area. This article also suggests that the information system has a positive financial feasibility.