• International conference on construction engineering and project management
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• 2015.10a
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• pp.4-5
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• 2015

Owning to rapid infrastructure development, Asia is experiencing dramatic economic growth. There are not a few cases in which, however, economic growth is achieved by increasing the external diseconomy. Pursuit of sustainable development is one of the most important issues for mankind. Under the post-industrial capitalism society, however, there seems a big risk of increase in the external diseconomy worldwide. The objectives of this manuscript are to discuss importance of risk management of construction practice in present and future. Regarding the latter, a particular attempt is made to discuss how project risk communication should be done to reduce the external diseconomy. Presently, one of the important issues in implementation of infrastructure projects is practice of risk management to properly manage time, cost, quality, and safety: mainly maximization of internal economy. Multi-party risk and uncertainty management process (MRUMP) is one of tolls to assist it. The idea on MRUMP can be used to reduce the external diseconomy through identifying, sharing, and tuning people's rhythms.

• The Journal of the Korea Contents Association
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• v.18 no.10
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• pp.518-526
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• 2018

The purpose of this study is to analyze the effect of social trust on risk perception. In other words, I tried to analyze empirically how the generalized trust about other people they have based on subjective perception of Seoul citizens affects the perception of risk factors. First, the risk factors that Seoul citizens face in everyday life are classified into five categories: natural disaster, technical disaster risk, economic risk, social disintegration risk and health risk. Then, the influence of social trust on each of these risk perception was analyzed by multiple regression model. The results show that social trust has a statistically significant negative impact on all types of risk perception. These results imply that social trust makes low-risk assessments of various risk factors around people. The implication of this study is that the responsibility for risk is given to the central and local governments in the modern risk society. In order to prevent effective risk, it is necessary to make efforts to promote social trust through various activities together with efforts to prevent the spread of unfounded risk will be. And trust among people also promotes cooperation in coping with risks, so it is necessary to promote communication and mutual understanding that can build trust among people in their daily life.

• Korean Journal of Clinical Pharmacy
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• v.24 no.1
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• pp.15-25
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• 2014

Background: Elderly patients with gastrointestinal (GI) and cardiovascular (CV) risk factors may be more easily exposed to NSAID-related side effects (SEs). Based on the ACG guideline of year 2009, the aim of the study is to evaluate proper use of NSAIDs and gastroprotective drugs according to the degree of GI and CV risk strengths in the patients. Methods: Retrospectively surveyed 410 elderly patients with NSAIDs for more than 30 days at a general hospital in Korea. GI risk factor includes age, ulcer history, high-dose NSIADs, concurrent aspirin use, steroids or anticoagulants. CV risk factor includes angina, myocardial infarction, cerebral infarction, atrial fibrillation or coronary intervention requiring low-dose aspirin. These factors were classified as high/low cardiovascular groups and high/moderate/low GI groups. Results: There were 14 patients in high CV risk group and high GI risk group. The group was recommended not to use NSAIDs as it is not adequate. There were 101 patients in high CV risk group and moderate GI risk group. This group was recommended to use naproxen and PPI/misoprostol. But all patients except one were not adequate. There were 9 patients in low CV risk group and high GI risk group. This group was recommended to use selective COX-2 inhibitor and PPI/misoprostol. 5 cases were proper while 4 cases did not. There were 285 patients in low CV risk and moderate GI risk group who were recommended to use non selective NSAIDs and PPI/misoprostol or selective COX-2 inhibitor only. 103 patients were proper while 182 patients not adequate. Overall, the SEs were higher in those cases for inadequate use of drugs comparing to the adequate. CV SEs were statistically significant. However, SEs for each risk groups were different. For the case of low CV risk group and high/moderate GI risk group, the inadequate use of drugs makes the SE high and the other groups are not. Also, it was not statistically significant. Conclusions: In elderly patients, the inappropriate use of NSAIDs can increase the risk of the disease. Therefore, GI and CV risk must be considered simultaneously, and the proper use of NSAIDs and gastroprotective drugs for each risk groups should be reconsidered.

• Journal of Korea Technology Innovation Society
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• v.11 no.2
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• pp.241-263
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• 2008

Within any income approach, a discount rate is used to convert some projected free cash flow to its presented value. In case of valuing companies, the most frequently used discount rate is the weighted average cost of capital(WACC) at the aggregate level. But technology valuation is different to discounting aggregate corporate cash flow since it is concerned about individual Intellectual property. Therefore, blindly applying standard discount rate such as WACC in technology valuation is unlikely to lead to the right result. The primary focus of this paper is to establish the structure of discount rate for technology valuation and to suggest the method of estimation. To determine an appropriate discount rate for technology valuation, the level of technology risk, market risk and competitive risk should be included in the structure of discount rate. This paper suggests the build-up model which consists of three components as a expansion of the CAPM. It includes (1) a risk-free rate of return, (2) general market risk premium and beta and (3) intellectual property risk premium related to technology risk and specific target market risk. However, there is no specific check list for examining the intellectual property risk until now and no specific method for quantifying its risk into risk premium. This paper developed the 10 element to determine the level of the intellectual property risk and applied estimation function such as linear function, natural log function and exponential function to transform the level of risk into risk premium. The limitation of this paper is that the range of intellectual property risk premium is inferred based on the information of foreign and domestic valuation agency. Finally, this paper explored the development of an intellectual property discount rate for technology valuation and presented the method in order to quantify the intellectual property risk premium.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.19 no.2
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• pp.25-40
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• 2019

Many companies are executing big data analysis and utilization projects to legitimize the development of new business areas or conversion of management or technical strategies. In Korea and abroad, however, such projects are failing because they are not completed within specified deadlines, which is not unrelated to the current situation in which the knowledge base for big data project risk management from an engineering perspective is grossly lacking. As such, the current study analyzes the risk factors of big data implementation and utilization projects, in addition to finding risk factors that are highly important. To achieve this end, the study extracts project risk factors via literature review, after which they are grouped using affinity methodology and sifted through expert surveys. The deduced risk factors are structuralize using factor analysis to develop a table that categorizes various types of big data project risk factors. The current study is significant that in it provides a basis for developing basic control indicators related to risk identification, risk assessment, and risk analysis. The findings from the study contribute greatly to the success of big data projects, by providing theoretical basis regarding efficient big data project risk management.

• Asia-Pacific Journal of Business
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• v.12 no.1
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• pp.135-149
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• 2021

Purpose - I analyzes risk-to-performance evaluated in the market using data from sale and lease back. Specifically, I analyze from the perspective of financial institutions that purchase sale and lease back based on the cases of investment by ship investment companies and acquisition of ships. Design/methodology/approach - I use 49 sale and lease back data from 2017 to 2019 for empirical analysis. Findings - The main results of this paper are as follows. First, after sale and lease back of domestic ships, the average amount of sales by the leased shipping company is 25.1 billion won, the average amount of investment by the purchased financial institution is 14.6 billion won (60%) and the average length of the ship is nine years. In ship finance, sale and lease back is deemed to be appropriately used as a means of restructuring for a large amount of money. Second, the main risk factor for sale and lease back of domestic ships is credit risk and can be measured in VaR in practice. As a result of the empirical analysis, the average credit risk burden ratio is 9%. As a major risk factor, low creditworthiness of restructuring companies is the key. Third, as a result of measuring the profitability of financial institutions that purchase sale and lease back of domestic ships at a net current price, it has an average value of 300 million won, but the deviation by case is very large. Fourth, the risk adjusted performance of sale and lease back of domestic ships is 0.54 on average compared to the total risk capital, and 0.52 compared to the stock-risk capital, and as with profitability earlier, the deviation of each case is very large and misaligned. In order to boost the sale and lease back market for large and long-term assets, in order to overcome low profitability as a prerequisite for future participation of commercial purchased financial institutions, it is expected that purchase decisions based on expectations versus risk will be necessary. Research implications or Originality - The results of this paper are expected to broaden the understanding of sale and lease back and foster the ability to assess long-term risk and performance. Based on this, it is believed that rapid restructuring of companies through sale and lease back of large amounts of long-term assets will greatly increase the utility of the domestic financial market.

• Journal of the Society of Disaster Information
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• v.18 no.3
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• pp.520-531
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• 2022

Purpose: Based on the risk evaluation of hydrogen fueling stations, this study aims to find a plan to strengthen management safety by examining profitability and management risk, which are major concerns of employers. Method: The risk evaluation was divided into 'acceptable risk' and 'allowable risk' over time from the stage of installation of hydrogen fueling stations, and compared and analyzed with the results of existing studies. Result: Existing studies have been appropriately applied to the risk assessment performed at the stage of installing hydrogen fueling stations. However, possible risks could be found at the operational stage. In other words, it was derived that an evaluation of management risk was also necessary. And through this, it was confirmed that the safety of hydrogen fueling stations was strengthened. Conclusion: The risk assessment that precedes the stage of installing hydrogen fueling stations is appropriate because significant results have been derived from the 'acceptable risk' assessment. However, the operator needs to evaluate the risks that may occur at the operating stage, that is, the 'allowable risks' and prepare countermeasures. Therefore, it is proposed to add management risk assessment items to build and operate safer hydrogen fueling stations.

• The Journal of KAIRB
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• v.4 no.2
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• pp.36-41
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• 2022

Purpose: The purpose of this study is to evaluate how university hospital Institutional Review Boards (IRBs) in Korea classify risk when reviewing clinical trial protocols. Methods: IRB experts (IRB chairman, vice chairman, IRB administrator) in the university hospitals obtaining a Human research protection program (HRPP) or IRB accreditation in Korea were asked to fill out the Google Survey from September 1, 2020 to October 10, 2020. Result: Among the 23 responder hospitals, 8 were accredited by the American Association for Human Research Protection Program (AAHRPP) and 8 were accredited by the HRPP of Ministry of Food and Drug Safety (MFDS). Seven were accredited by Forum for Ethical Review Committees in Asia and the Western Pacific or Korea National Institution for Bioethics Policy. Thirteen of 23 hospitals (56.5%) had 4 levels (less than minimal, low, moderate, high risk), 4 hospitals had 3 levels (less than, slightly over, over than minimal risk), 1 hospital had 5 levels (4 levels plus required data safety monitoring board), and 1 hospital had 2 levels (less than, over than minimal risk) risk classification system. Thirteen of 23 hospitals (56.5%) had difficulty classifying the risk levels of research protocols. Fourteen hospitals (60.9%) responded that different standards among hospitals for risk level determination associated with clinical trials will affect the subject protection. Six hospitals (26.1%) responded that it will not. Three hospitals (13.0%) responded that it will affect the beginning of the clinical trial. To resolve differences in standards between hospitals, 14 hospitals (60.9%) responded that either the Korean Association of IRB or MFDS needs to provide a guideline for risk level determination in clinical trials: 5 hospitals (21.7%) responded education for IRB members and researchers is needed; 3 hospitals (13.0%) responded that difference among institutions needs to be acknowledged; and 1 hospital (4.3%) responded that there needs to be communication among IRB, investigator, and sponsor. Conclusion: After conducting a nationwide survey on how IRB in university hospital determines risk during review of clinical trials, it is reasonable to use 4-level risk classification (less than minimal, low, moderate, high risk); the most utilized method among hospitals. Moreover, personal information and conflict of interest associated with clinical trials have to be considered when reviewing clinical trial protocols.

• Journal of the Society of Disaster Information
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• v.18 no.4
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• pp.828-838
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• 2022

Purpose: Through the establishment of a computerized system of risk assessment, the purpose is to analyze the case of whether the co-workers who are subject to the risk assessment at the construction site can easily fill it out and expect disaster reduction through efficient risk assessment activities. Method: By providing the risk factors and safety measures for the work by selecting the type of work, the risk estimation and the establishment of countermeasures can be made, and a system has been established to enable practical disaster prevention activities by presenting disaster cases for the work. Result: Through the analysis of the change in the scaled disaster rate for the years following the on-site application after the establishment of the risk assessment computer system of H Construction Company, it was confirmed that the scaled disaster rate of the domestic construction industry increased, while the conversion disaster rate of H Construction Company decreased. Conclusion: Through the computational systemization of risk assessments, workers in the field can easily access the risk assessment, evaluate the risk factors of the process and establish risk prevention measures, and it has been analyzed that there is an impact on the reduction of the disaster rate during the operational analysis period.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2012.05a
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• pp.95-97
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• 2012

Recycled aggregate (RA) produced from demolished concrete waste can bring about several problems on concrete performance, when it is used as aggregate for new concrete. Because RA generally has lower quality than natural aggregate due to the residual cement paste attached on RA and various impurities. It is also very difficult to ensure that the quality of RA remains consistent, because generally RA is produced variously. Thus, in concrete recycling, it is extremely important to estimate the risk of the impurities which could affect performances of recycled aggregate concrete (RAC) focusing on the material flow of concrete waste and its recycling. This study suggests an evaluation result to expect the possibility of impurity mixing in RA production procedure. and suggests a risk evaluation model to expect the changes of RAC performances based on conventional data in Japan.