• Title/Summary/Keyword: Market Risk

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A Study on the construction of physical security system by using security design (보안디자인을 활용한 시설보안시스템 구축 방안)

  • Choi, Sun-Tae
    • Korean Security Journal
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    • no.27
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    • pp.129-159
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    • 2011
  • Physical security has always been an extremely important facet within the security arena. A comprehensive security plan consists of three components of physical security, personal security and information security. These elements are interrelated and may exist in varying degrees defending on the type of enterprise or facility being protected. The physical security component of a comprehensive security program is usually composed of policies and procedures, personal, barriers, equipment and records. Human beings kept restless struggle to preserve their and tribal lives. However, humans in prehistoric ages did not learn how to build strong house and how to fortify their residence, so they relied on their protection to the nature and use caves as protection and refuge in cold days. Through the history of man, human has been establishing various protection methods to protect himself and his tribe's life and assets. Physical security methods are set in the base of these security methods. Those caves that primitive men resided was rounded with rock wall except entrance, so safety was guaranteed especially by protection for tribes in all directions. The Great Wall of China that is considered as the longest building in the history was built over one hundred years from about B.C. 400 to prevent the invasion of northern tribes, but this wall enhanced its protection function to small invasions only, and Mongolian army captured the most part of China across this wall by about 1200 A.D. European lords in the Middle Ages built a moat by digging around of castle or reinforced around of the castle by making bascule bridge, and provided these protections to the resident and received agricultural products cultivated. Edwin Holmes of USA in 20 centuries started to provide innovative electric alarm service to the development of the security industry in USA. This is the first of today's electrical security system, and with developments, the security system that combined various electrical security system to the relevant facilities takes charging most parts of today's security market. Like above, humankind established various protection methods to keep life in the beginning and its development continues. Today, modern people installed CCTV to the most facilities all over the country to cope with various social pathological phenomenon and to protect life and assets, so daily life of people are protected and observed. Most of these physical security systems are installed to guarantee our safety but we pay all expenses for these also. Therefore, establishing effective physical security system is very important and urgent problem. On this study, it is suggested methods of establishing effective physical security system by using system integration on the principle of security design about effective security system's effective establishing method of physical security system that is increasing rapidly by needs of modern society.

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A Study on the Development of Assessment Index for Catastrophic Incident Warning Sign at Refinery and Pertrochemical Plants (정유 및 석유화학플랜트 중대사고 전조신호 평가지표 개발에 관한 연구)

  • Yun, Yong Jin;Park, Dal Jae
    • Korean Chemical Engineering Research
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    • v.57 no.5
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    • pp.637-651
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    • 2019
  • In the event of a major accident such as an explosion in a refinery or a petrochemical plant, it has caused a serious loss of life and property and has had a great impact on the insurance market. In the case of catastrophic incidents occurring in process industries such as refinery and petrochemical plants, only the proximate causes of loss have been drawn and studied from inspectors or claims adjustors responsible for claims of property insurers, incident cause investigators, and national forensic service workers. However, it has not been done well for conducting root cause analysis (RCA) and identifying the factors that contributed to the failure and establishing preventive measures before leading to chemical plant's catastrophic incidents. In this study, the criteria of warning signs on CCPS catastrophic incident waning sign self-assessment tool which was derived through the RCA method and the contribution factor analysis method using the swiss cheese model principle has been reviewed first. Secondly, in order to determine the major incident warning signs in an actual chemical plant, 614 recommendations which have been issued during last the 17 years by loss control engineers of global reinsurers were analyzed. Finally, in order to facilitate the assessment index for catastrophic incident warning signs, the criteria for the catastrophic incident warning sign index at chemical plants were grouped by type and classified into upper category and lower category. Then, a catastrophic incident warning sign index for a chemical plant was developed using the weighted values of each category derived by applying the analytic hierarchy process (pairwise comparison method) through a questionnaire answered by relevant experts of the chemical plant. It is expected that the final 'assessment index for catastrophic incident warning signs' can be utilized by the refinery and petrochemical plant's internal as well as external auditors to assess vulnerability levels related to incident warning signs, and identify the elements of incident warning signs that need to be tracked and managed to prevent the occurrence of serious incidents in the future.

A study on mandatory insurance for aircraft operators (항공보험 가입의무에 관한 연구)

  • Lee, Chang-Jae
    • The Korean Journal of Air & Space Law and Policy
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    • v.33 no.2
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    • pp.169-197
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    • 2018
  • The purpose of this study is to present a reasonable and concrete standard for the Korean aviation insurance compulsory subscription system. Through this, we aim to improve the current revision of laws and regulations, and ultimately create an environment in which the safety and property of the Korean people who use aircraft with appropriate aviation insurance can be secured. In particular, by reviewing the aviation business law and its new laws and regulations enacted in 2017, the legislative improvement direction of aviation insurance will be proposed. In order to maintain the continuous growth of the air transportation industry and to make amicable compensation for the victims, considering the characteristics of the total accident, instantness, and giganticness of air accidents in which a lot of people and property are lost in the event of an accident, adequate insurance coverage is essential. In this respect, the compulsory insurance to amend the principle of freedom of contract, which is the great principle of the modern judicial system, will be persuasive. However, in comparison with foreign legislation, the legal provisions on Korea's obligation to comply with aviation insurance need to be revised around the following issues: First, it is reasonable to enforce the regulation of the mandatory aviation insurance by legislation from the Congress not by administrative regulations. Because it will force the monetary obligations of the individual such as common air carriers. Second, our law regulations respond to various kinds of air damages by using the phrase "limit of liability stipulated in international conventions". However, as we have seen in the text, the range of compensation are various according to the use of legal instruments in international conventions such as the Montreal Convention, which governs the compensation of passengers for damages to passengers today. Third, in countries with narrow territories, such as Korea, there are big differences in flying time and insurable risk between domestic and international transportation. Therefore, it is necessary to divide domestic transportation and international transportation even in the obligation to join the insurance. This dual discipline has the advantage for rookies in air carrier market who mainly start their business from domestic service. Fourth, according to Korean law, the regulations of automobile loss insurance is applicable to the aviation mandatory insurance of unmanned aerial vehicle accident which is lack of persuasion. In the future, it will be appropriate to discipline insurance for unmanned aerial vehicles with unlimited potential for development from a long-term perspective.

Prevalence of Microbiological Contamination in the Ready-To-Eat Side Dishes Sold in Gyeongsangnam-do, South Korea (경남지역에서 유통되는 즉석 반찬류의 미생물 오염도 조사)

  • Ji-Yeon Um;Hye-Jeong Jang;Yeon-Ju Choi;So-Young Kim;Areum Jo;Min Young Kim;Jihee Ahn;Jea-Dong Kim
    • Journal of Food Hygiene and Safety
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    • v.38 no.4
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    • pp.217-227
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    • 2023
  • The consumption of ready-to-eat side dishes is rapidly growing in South Korea. These foods are particularly vulnerable to microbiological contamination as they are often cooked without any treatment, such as heating or stored at room temperature after cooking. Hence, in 2022, we analyzed the ready-to-eat side dishes sold in Gyeongsangnam-do, South Korea for microbiological contamination. We collected 100 samples from supermarkets in 7 cities, and then examined them for presence of food-borne pathogens and sanitary indicator bacteria. In the analysis of the food-borne pathogens, Bacillus cereus and Clostridium perfringens were isolated from 51 samples (51.0%) and 3 samples (3.0%), respectively. However, both quantitatively met the Korean Food Standards Codex. Genes of five different enterotoxins and one emetic toxin were analyzed from the 51 isolated B. cereus strains. We detected enterotoxin entFM (100.0%), nheA (94.1%), hblC (58.8%), cytK (56.9%), and bceT (41.2%) in 51 isolates, and emetic toxin gene, CER, in only one (2.0%) isolate. We did not detect C. perfringens toxin gene (cpe) that causes food poisoning in any one of the three C. perfringens isolates. In the case of sanitary indicator bacteria, Kimchi had the highest levels of total aerobic bacteria and coliforms, followed by Saengchae, Jeotgal, Jeolim, Namul, and Jorim, respectively. We counted total aerobic bacteria at two different storage temperatures (4℃ and 20℃) to determine the effect of storage temperature. When stored at 20℃, total aerobic bacteria count increased in most of the ready-to-eat side dishes, except for Jeotgal. This result conclusively shows the need for refrigerating the ready-to-eat side dishes after purchase. Further research is needed to assess the risk and safety of the ready-to-eat side dishes available in the market and determine appropriate safety management practices.

The Effect of Price Promotional Information about Brand on Consumer's Quality Perception: Conditioning on Pretrial Brand (품패개격촉소신식대소비자질량인지적영향(品牌价格促销信息对消费者质量认知的影响))

  • Lee, Min-Hoon;Lim, Hang-Seop
    • Journal of Global Scholars of Marketing Science
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    • v.19 no.3
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    • pp.17-27
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    • 2009
  • Price promotion typically reduces the price for a given quantity or increases the quantity available at the same price, thereby enhancing value and creating an economic incentive to purchase. It often is used to encourage product or service trial among nonusers of products or services. Thus, it is important to understand the effects of price promotions on quality perception made by consumer who do not have prior experience with the promoted brand. However, if consumers associate a price promotion itself with inferior brand quality, the promotion may not achieve the sales increase the economic incentives otherwise might have produced. More specifically, low qualitative perception through price promotion will undercut the economic and psychological incentives and reduce the likelihood of purchase. Thus, it is important for marketers to understand how price promotional informations about a brand have impact on consumer's unfavorable quality perception of the brand. Previous literatures on the effects of price promotions on quality perception reveal inconsistent explanations. Some focused on the unfavorable effect of price promotion on consumer's perception. But others showed that price promotions didn't raise unfavorable perception on the brand. Prior researches found these inconsistent results related to the timing of the price promotion's exposure and quality evaluation relative to trial. And, whether the consumer has been experienced with the product promotions in the past or not may moderate the effects. A few studies considered differences among product categories as fundamental factors. The purpose of this research is to investigate the effect of price promotional informations on consumer's unfavorable quality perception under the different conditions. The author controlled the timing of the promotional exposure and varied past promotional patterns and information presenting patterns. Unlike previous researches, the author examined the effects of price promotions setting limit to pretrial situation by controlling potentially moderating effects of prior personal experience with the brand. This manipulations enable to resolve possible controversies in relation to this issue. And this manipulation is meaningful for the work sector. Price promotion is not only used to target existing consumers but also to encourage product or service trial among nonusers of products or services. Thus, it is important for marketers to understand how price promotional informations about a brand have impact on consumer's unfavorable quality perception of the brand. If consumers associate a price promotion itself with inferior quality about unused brand, the promotion may not achieve the sales increase the economic incentives otherwise might have produced. In addition, if the price promotion ends, the consumer that have purchased that certain brand will likely to display sharply decreased repurchasing behavior. Through a literature review, hypothesis 1 was set as follows to investigate the adjustive effect of past price promotion on quality perception made by consumers; The influence that price promotion of unused brand have on quality perception made by consumers will be adjusted by past price promotion activity of the brand. In other words, a price promotion of an unused brand that have not done a price promotion in the past will have a unfavorable effect on quality perception made by consumer. Hypothesis 2-1 was set as follows : When an unused brand undertakes price promotion for the first time, the information presenting pattern of price promotion will have an effect on the consumer's attribution for the cause of the price promotion. Hypothesis 2-2 was set as follows : The more consumer dispositionally attribute the cause of price promotion, the more unfavorable the quality perception made by consumer will be. Through test 1, the subjects were given a brief explanation of the product and the brand before they were provided with a $2{\times}2$ factorial design that has 4 patterns of price promotion (presence or absence of past price promotion * presence or absence of current price promotion) and the explanation describing the price promotion pattern of each cell. Then the perceived quality of imaginary brand WAVEX was evaluated in the scale of 7. The reason tennis racket was chosen is because the selected product group must have had almost no past price promotions to eliminate the influence of average frequency of promotion on the value of price promotional information as Raghubir and Corfman (1999) pointed out. Test 2 was also carried out on students of the same management faculty of test 1 with tennis racket as the product group. As with test 1, subjects with average familiarity for the product group and low familiarity for the brand was selected. Each subjects were assigned to one of the two cells representing two different information presenting patterns of price promotion of WAVEX (case where the reason behind price promotion was provided/case where the reason behind price promotion was not provided). Subjects looked at each promotional information before evaluating the perceived quality of the brand WAVEX in the scale of 7. The effect of price promotion for unfamiliar pretrial brand on consumer's perceived quality was proved to be moderated with the presence or absence of past price promotion. The consistency with past promotional behavior is important variable that makes unfavorable effect on brand evaluations get worse. If the price promotion for the brand has never been carried out before, price promotion activity may have more unfavorable effects on consumer's quality perception. Second, when the price promotion of unfamiliar pretrial brand was executed for the first time, presenting method of informations has impact on consumer's attribution for the cause of firm's promotion. And the unfavorable effect of quality perception is higher when the consumer does dispositional attribution comparing with situational attribution. Unlike the previous studies where the main focus was the absence or presence of favorable or unfavorable motivation from situational/dispositional attribution, the focus of this study was exaus ing the fact that a situational attribution can be inferred even if the consumer employs a dispositional attribution on the price promotional behavior, if the company provides a persuasive reason. Such approach, in academic perspectih sis a large significance in that it explained the anchoring and adjng ch approcedures by applying it to a non-mathematical problem unlike the previous studies where it wis ionaly explained by applying it to a mathematical problem. In other wordn, there is a highrspedency tmatispositionally attribute other's behaviors according to the fuedach aal attribution errors and when this is applied to the situation of price promotions, we can infer that consumers are likely tmatispositionally attribute the company's price promotion behaviors. Ha ever, even ueder these circumstances, the company can adjng the consumer's anchoring tmareduce the po wibiliute thdispositional attribution. Furthermore, unlike majority of previous researches on short/long-term effects of price promotion that only considered the effect of price promotions on consumer's purchasing behaviors, this research measured the effect on perceived quality, one of man elements that affects the purchasing behavior of consumers. These results carry useful implications for the work sector. A guideline of effectively providing promotional informations for a new brand can be suggested through the outcomes of this research. If the brand is to avoid false implications such as inferior quality while implementing a price promotion strategy, it must provide a clear and acceptable reasons behind the promotion. Especially it is more important for the company with no past price promotion to provide a clear reason. An inconsistent behavior can be the cause of consumer's distrust and anxiety. This is also one of the most important factor of risk of endless price wars. Price promotions without prior notice can buy doubt from consumers not market share.

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