• Korean Journal of Construction Engineering and Management
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• v.11 no.6
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• pp.54-64
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• 2010

A firm decides to go to the project based on its investment analysis. However, the cash flows generated from the real project can not be always coincident with what expected as it follows uncertain behavior and the asymmetric payoff caused by the managerial flexibilities involved in the real asset affects the project value. Amongst various managerial flexibilities entailed in most of the real assets, although investment delay has been known to enhance the project value thanks to its ability to provide new market information to management, the related research to select the time to invest have been just few. Therefore, this research aims to show the theoretical framework to decide when to invest reflecting the behaviors of increasing project value and loss recovery cost due to investment delay with option pricing, related financial economic, and variational theories.

• Proceedings of the KIEE Conference
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• 1991.07a
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• pp.411-416
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• 1991

Operation simulation is a key factor to evaluate investment and operation in a power utility. Probabilistic production simulation is of major concern. With pumped-storage plant, production simulation is not an easy task, because its economy should fully be exploited. In addition, usual operation interval is a week rather than a day. Most existing models are based on approximate production simulation such as adopting simple priority orders of generations. This study is based on the more elaborate model developed by authors. Further, a policy of weekly coordination is established based on the Maximum Principle. Chronological load curve instead of usual load duration curve is used and the accuracy in simulation is enhahced. Resulting economics are compared. Deviation between these two toad curve is shown.

• Korean Journal of Construction Engineering and Management
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• v.16 no.6
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• pp.144-155
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• 2015

This paper is to understand investment's efficiency and performance of commercial real estate assets diversified by use and district. To do so, this paper divides two different commercial real estate markets(office build market and retail real estate market) in Seoul city by district into "GBD(Gangnam Business District), YBD(Yeouido Business District), and CBD(Central Business District)" and "GBD(Gangnam Business District), SBD(Shinchon Business District), and CBD(Central Business District)" respectively, configures these districts each other to structure portfolios as its portion varies based on Markowitz's Mean-Variance principle, and looks at risk-return relationship of portfolios to find out efficiency, performance, and optimal investment chosen based upon Sharpe's Performance Index. As a result, the portfolio configured by "10 to 30% of office building asset at CBD" and "70 to 90% of retail real estate asset at CBD" is shown to be the most optimal, suggesting the highest quarterly Sharpe's performance index of 2.7118~2.7776 with quarterly rate of return of 1.826%~1.838% and quarterly standard deviation of 0.573~0.589. Furthermore, it is obvious that diversified portfolio configured by use(office-retail) shows better investment performance than that by district with same type of asset(office-office or retail-retail). Finally, results driven from this research will play an important role to stimulate real estate and construction markets through enlarging ideas as to diversified investment by use and district on real estate indirect investment products.

• The KIPS Transactions:PartD
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• v.9D no.1
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• pp.75-80
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• 2002

Putnam develops SLIM (Software LIfecycle Management) model based upon the assumption that the manpower utilization during software project development is followed by a Rayleigh distribution. To obtain the manpower distribution, we have to be estimate the total development effort and difficulty ratio parameter. We need a way to accurately estimate these parameters early in the requirements and specification phase before investment decisions have to be made. Statistical tests show that system attributes are highly correlation (redundant) so that Putnam discards one and get a parameter estimator from the other attributes. But, different statistical method has different system attributes and presents different performance. To select the principle system attributes, this paper uses the principle component analysis (PCA) instead of Putnam's method. The PCA's results improve a 9.85 percent performance more than the Putnam's result. Also, this model seems to be simple and easily realize.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2000.04a
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• pp.16-32
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• 2000

This paper aims at exploring financing methods for port development in response to unification of South and North Korea. In so doing, methods of port financing employed by major countries have been enumerated. Major financing sources for the two Korea, among others, taxes, public bond, public administration fund, establishment of harbour maintenance tax, port development tax, port development fund, Civil Economic Cooperation Fund of South and North Korea, and Fund for Port Development of North Korea and, fund for cooperation of South and North Korea, Economic Development Cooperation Fund, borrowing of foreign capital, project financing, domestic civil capital investment, foreign capital investment, application of cross-subsidization principle, etc. were suggested.

• Asia-Pacific Journal of Business
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• v.13 no.3
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• pp.227-243
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• 2022

Purpose - This study surveyed real estate financial consumers and financial company staff regarding the components of the financial consumer protection system to seek detailed improvement plans for the Financial Consumer Protection Act. Design/methodology/approach - The Analytic Hierarchy Process (AHP) technique is applied. Findings - Both consumers and staff highly evaluated the importance of the preventive measures in the main classification factors. Regarding the sub-classification factors of preventive measures, consumers emphasized the responsible management of investment staff and financial institutions; however, the staff stressed the principle of effectiveness and efficiency. Regarding the elements of ex-post remedies, consumers answered that fast remedy would have a significant effect. At the same time, staff believed that punitive measures hinder free trading and investment activities. Regarding the sub-sub classification factors of prevention measures, the consumers value responsible management of staff and financial companies, while the staff tend to prefer the importance of the self-regulatory governance. Research implications or Originality - Based on the above results, financial regulatory authorities should find a balance between preventive and ex-post components once focusing on preventative measures. Our paper is one of the first research findings in this field of financial consumer protection system in Korea.

• Journal of Arbitration Studies
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• v.28 no.2
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• pp.111-135
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• 2018

As the disputes in the investment and civil/commercial sectors of China and Taiwan have increased due to active cross-strait economic exchanges, the Chinese government is addressing cross-strait disputes through various dispute resolution methods. In recent years, the Arbitration Center Across the Straits (ACAS) has been established to resolve disputes between cross-strait parties, while ACAS Arbitration Rules have been enacted and enforced. ACAS Arbitration Rules are prepared by referring to the Arbitration Act of China and Taiwan, the relevant provisions and practices of the China International Economic and Trade Arbitration Commission (CIETAC) Arbitration Rules and the cross-strait practical affairs of the China International Economic and Trade Arbitration Commission, and the cross-strait practical affairs giving consideration to the specificity of the cross-strait relationship and the characteristics of economic and trade disputes. Therefore, this paper has compared the features and main contents of the ACAS Arbitration Rules with those of the CIETAC Arbitration Rules. This refers to arbitration proceedings such as form and effect of arbitration agreement, decision of place of arbitration, and organization of arbitral tribunal; the provision of consolidation of multiple contracts and arbitration, and the provision of joinder of arbitration parties, which are implementing the "principle of party autonomy" with streamlining arbitration proceedings and reducing costs; "common, simple, and small sum arbitration proceedings which require shorter arbitration proceedings depending on the size of the arbitration object; and regulations on the "interconnection of mediation and conciliation" which is characteristic of China's arbitration system. Based on the above-mentioned main contents of the ACAS Arbitration Rules in China, there are some implications to be considered in the establishment of the Arbitration Rules of the South-North Commercial Arbitration Commission which will be applied to solve commercial and investment disputes arising from the Inter-Korean Economic Cooperation process, suggesting implications such as the need for the rapid composition and operation of the South-North Commercial Arbitration Commission, requirements for selecting arbitrators, expansion of the object of arbitration, specification of concreteness in deciding the place of arbitration, need to create a variety of arbitration proceedings, and application plan of the International Center for Settlement of Investment Dispute (ICSID) or Third Power Arbitration Agency.

• Journal of the Korean Institute of Educational Facilities
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• v.14 no.2
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• pp.16-24
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• 2007

The study is intended to analyze the tendency of the remodeling for the high schools in Seoul, with the potential challenges thereof, determining the principle for the remodeling projects in the days to come. To that end, the analysis to identify the school facilities in a bid to accommodate the current curriculum was conducted, along with the case study on remodeling projects. The $7^{th}$ curriculum demands for a significant change in school facilities. The number of student in a class that has been on the decline, despite of steady increase in number of schools, and the population getting concentrated in Seoul and its suburbs have resulted in an increase in number of class. Consequently, more investment in the facility, rather than improving a substantial education environment, has been made. The study, thus, is aimed at identifying the facility of the high school required by the $7^{th}$ curriculum, as well as implementing a fact-finding investigation into the remodeling works far high schools in Seoul so as to come up with the guideline for remodeling projects.

• Proceedings of the Korean Institute of Interior Design Conference
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• 2007.05a
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• pp.255-259
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• 2007

Contemporary society is a digital and information-oriented society and a change by digital and information-oriented has made a new society principle and creature. The principle and creature has made society changed having influence on office space. The 21st century business space attachs great importance to the public space as the value of work place, namely, the place of gathering and client meeting which is society space and a thing which grants it with the biggest investment worth is a new order. This kind of society change has been making an appearance in contemporary office space as features of Narrative, Nodal, Neighbourly, Nomadic. These kinds of trends which are not exclusive mutually are stipulated as new trials to business space holding a lot of overriding features in common. These kinds of features brought into relief according to society change can be seen as key words speaking for contemporary office space and have a significance to contemplate and study for the office space of a new concept made an appearance together with society change. It is expected to contribute to revitalization programs with the far-reaching effect of understanding about ideal office work circumstances and work shape which the 21st century wants standing on the features of these new concepts.

• Journal of the Korean Institute of Educational Facilities
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• v.13 no.1
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• pp.5-16
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• 2006

The study is intended to analyze the tendency of the remodeling for the middle schools in Gyeonggi Province, with the potential challenges thereof, thereby determining the principle for the remodeling projects in the days to come. To that end, the analysis to identify the school facilities in a bid to accommodate the current curriculum was conducted, along with the case study on remodeling projects. The $7^{th}$ curriculum demands for a significant change in school facilities. The number of student in a class that has been on the decline, despite of steady increase in number of schools, and the population getting concentrated in Seoul and its suburbs have resulted in an increase in number of class. Consequently, more investment in the facility, rather than improving a substantial education environment, has been made. The study, thus, is aimed at identifying the facility of the middle school required by the $7^{th}$ curriculum, as well as implementing a fact-finding investigation into the remodeling works for middle schools in Gyeonggi Province so as to come up with the guideline for remodeling projects.