• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.43
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• pp.169-198
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• 2009

This paper sees some legal phases of the forfaiting transactions performed by using bills of exchange (drafts) or promissory notes. It focuses on the issues of the endorsement without recourse and the aval under the Korean statute for such negotiable instruments which is enacted by succeeding to the Convention Providing a Uniform Law For Bills of Exchange and Promissory Notes (Geneva, 1930) of the League of Nations. This paper purposes to give basic legal guides for forfaiting participants in order for them to be able to prevent and solve some problems caused by lack of understanding for relevant rules of law. Forfaiting is a useful technic as it provides financing for international export businesses by enabling forfaiters to discount future payment obligations on non-recourse basis. It gives benefits to exporters by removing political, transfer and commercial risks of importers or their country. Also it protects exporters from the risks of the increase of interest rates and the fluctuation of exchange rate as well. In traditionally normal forfaiting transactions, exporter of goods generally takes promissory notes or accepted drafts from importers in payment for the price of goods. Further, when the exporter is not comfortable with the importer's credit or is not confident whether the importer will pay the accepted drafts or the promissory notes as they come due, the exporter nomally requires the importer to make the importer's bank (avalizer or guarantor) add an aval, which is made by the written expression of intention, the words of "per aval", and the guarantor's signature on the drafts or promissory notes. The exporter endorses without recourse to transfer the drafts or the promissory notes to the forfaiter, typically a bank, who purchases the drafts or the promissory notes without recourse.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.454-459
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• 2003

Feasibility study on large scale projects like an investment on infrastructure development is very important because it provides fundamental data which determine the total investment size and duration. However, previous feasibility studies have a few problems of ambiguous estimation standards, unsystematical estimation methods, and so on. Accordingly, this study intends to regulate tile problems on economic feasibility as well as financial feasibility study which have been considered more critical in recent time, subsequently presents a reform measure. Also, this study identifies predictable risks during the feasibility study, presents a scheme which lets investor and owner control the risk themselves through a process which uses theoretical and political management plans.

• Agribusiness and Information Management
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• v.4 no.1
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• pp.13-23
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• 2012

Understanding climate change is not only complex but also extensive. Humanity has never embarked on such a huge challenge of trans-national scope: a problem that began in the past continues now and will be continuing for a long time in the future. Nepalese have also significantly felt the impact of global climate change. The scenarios of climate change indicate that the increased temperatures will cause snow-melt which will result in floods, droughts, and uneven weather patterns. The impact of such unexpected climate hazards and weather patterns have already been felt and will continue to be felt in Nepal. These climate change-induced hazards and risks particularly threaten the agriculture sector, which results in food insecurity and makes poor and vulnerable people face increasingly unanticipated impacts to their lives and wellbeing. This paper explores the climate vulnerability of the Nepalese in terms of their physical, social, economic and primarily agricultural losses due to the increasing impact of climate change. The paper argues the need for a timely adaptation of measures to maintain an environment suitable for agriculture and for the well-being of the population residing in the area.

• Journal of Environmental Health Sciences
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• v.39 no.1
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• pp.19-31
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• 2013

Objectives: Elevated temperatures during summer months have been reported since the early 20th century to be associated with increased daily mortality. However, future death impacts of high temperatures resulting from climate change could be variously estimated in consideration of the future changes in historical temperature-mortality relationships, mortality, and population. This study examined the future death burden of high temperatures resulting from climate change in Seoul over the period of 2001-2040. Methods: We calculated yearly death burden attributable to high temperatures stemming from climate change in Seoul from 2001-2040. These future death burdens from high temperature were computed by multiplying relative risk, temperature, mortality, and population at any future point. To incorporate adaptation, we assumed future changes in temperature-mortality relationships (i.e. threshold temperatures and slopes), which were estimated as short-term temperature effects using a Poisson regression model. Results: The results show that climate change will lead to a substantial increase in summer high temperature-related death burden in the future, even considering adaptation by the population group. The yearly death burden attributable to elevated temperatures ranged from approximately 0.7 deaths per 100,000 people in 2001-2010 to about 1.5 deaths per 100,000 people in Seoul in 2036-2040. Conclusions: This study suggests that adaptation strategies and communication regarding future health risks stemming from climate change are necessary for the public and for the political leadership of South Korea.

• International Area Studies Review
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• v.22 no.1
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• pp.61-78
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• 2018

Foreign subsidiary operation modes can be broadly divided into horizontal subsidiaries and vertical subsidiaries. According to institutional theory, foreign subsidiary operation mode differs depending on the host country institution. This study examines the effects of formal and informal institution on the foreign subsidiary operational mode of Korean firms. As a result of the empirical analysis, the higher the cultural distance and the lower political risks, the more favored the vertical foreign operation mode than the horizontal foreign operation mode. On the other hand, the higher the economic freedom and the lower corruption, the more favored the horizontal foreign operation mode than the vertical foreign operation mode.

• International Journal of Computer Science & Network Security
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• v.21 no.9
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• pp.151-154
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• 2021

State information policy is an important component of foreign and domestic policy of the country and covers all spheres of society. The rapid development of the information sphere is accompanied by the emergence of fundamentally new threats to the interests of the individual, society, state and its national security. The article considers the components of the state information policy to ensure information security of the country and identifies the main activities of public authorities in this area. Internal and external information threats to the national security of Ukraine and ways to guarantee the information security of the country are analyzed. Information security is seen as a component of national security, as well as a global problem of information protection, information space, information sovereignty of the country and information support of government decisions. Approaches to ensure the process of continuity of the information security system of the state in order to monitor new threats, identify risks and levels of their intensity are proposed.

• Nuclear Engineering and Technology
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• v.53 no.4
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• pp.1224-1235
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• 2021

An integrated waste management approach for irradiated graphite was developed during the European Commission project 'Treatment and Disposal of Irradiated Graphite and other Carbonaceous Waste'. This included the identification of potential options for the management of irradiated graphite, taking account of storage, retrieval, treatment and disposal methods. This paper describes how these options can be assessed using multi-criteria decision analysis (MCDA) for a case study relating to a generic power reactor. Criteria have been defined to account for safety, environmental, economic and socio-political factors, including radiological impact, resource usage, economic costs and risks. The impact of each option against each criterion has been assessed using data from the project and the wider literature. A linear additive approach has been used to convert the calculated impacts to scores. To account for the relative importance of the criteria, example weightings were allocated. This application has shown that MCDA approaches can be used to support complex decisions regarding irradiated graphite management, accounting for a wide range of criteria. Use of this approach by individual countries or organisations will need to account for the specific options, scores, weightings and constraints that apply, based on their national strategies, regulatory requirements and public acceptability.

• Journal of Information Processing Systems
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• v.18 no.5
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• pp.637-649
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• 2022

Investors aim to increase their profitability by investing in the stock market. An adroit strategy for minimizing related risk lies through diversifying portfolio operationalization. In this paper, we propose a six-step stocks portfolio selection model. This model is based on data mining clustering techniques that reflect the ensuing impact of the political, economic, legal, and corporate governance in Mongolia. As a dataset, we have selected stock exchange trading price, financial statements, and operational reports of top-20 highly capitalized stocks that were traded at the Mongolian Stock Exchange from 2013 to 2017. In order to cluster the stock returns and risks, we have used k-means clustering techniques. We have combined both k-means clustering with Markowitz's portfolio theory to create an optimal and efficient portfolio. We constructed an efficient frontier, creating 15 portfolios, and computed the weight of stocks in each portfolio. From these portfolio options, the investor is given a choice to choose any one option.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.83-90
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• 2022

Public-private partnerships (PPP) projects are becoming popular in both developed and developing countries due to their ability to access new financing sources and transfer certain project risks to the private sector. PPP has been an active research area where the concept of Critical Success Factors (CSF) is often discussed by researchers. This study aims to identify the CSFs for various PPP infrastructure projects that have been explored in previous CSF studies. This article reviewed the literature about CSF in PPP projects from the years 2002 to 2021, compared the findings of studies regarding the identified CSFs, and consolidated the CSFs that can be applied to various PPP infrastructure projects. The results showed that dominant research focused on general infrastructure, where CSFs can be applied to all infrastructure sectors rather than any specific sector. The most identified CSFs from the study are favorable and efficient legal frameworks, appropriate risk allocation and sharing, a robust and reliable private consortium, a competitive and transparent procurement process, and political support and stability. The findings from the study can provide an overview of CSFs that are relevant to specific PPP infrastructure sectors like building infrastructure, transportation, water, etc. as well as for general infrastructure. In addition, the results can also be used for further empirical analysis.

• Journal of Technology Innovation
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• v.18 no.1
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• pp.53-74
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• 2010

The creation and acceptance of new technologies has been speeding up dramatically in modern times. There are also significant uncertainties about the future shape of markets, governance and social values that will have an important impact on organizations and their capacity to meet their objectives. These rapid technological and social change and uncertainties make the upsurge of interest in technology foresight, giving rise to its emergence as a global concept and policy tool. A wide range of future methods are available for technology foresight. Selection of methods will depend upon several factors, most notably available and the time financial resources, and the objectives of the exercise. Although Delphi has been widely used for many years, scenario becomes very popular in recent years. The use of scenarios can take better account of the complexity and unpredictability of the economic, social and political environments. Scenarios tell the stories describing paths to different futures, which help organizations make better decisions today. In this study, the scenario method was employed to draw the images of the future of renewable energy. Renewable energy grows dramatically in recent years. However, there is still considerable uncertainty with regard to the potential of renewable energy due to environment regulation, energy costs, and political and economic developments in the main supplier countries for oil and natural gas. Scenario can help us to identify the risks and opportunities when we develop the renewable energy, and to prepare for them. The scenario method is expected to be more utilized in the national technology foresight.