• Journal of the Korea Institute of Building Construction
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• v.22 no.4
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• pp.359-370
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• 2022

Despite continuous efforts to reduce on-site safety accidents, the construction industry remains a high-risk sector with a high rate of fatal accidents. Design for Safety(DFS), which manages safety risk factors at the design stage, is being used as a method to lower the construction safety accident rate. However, due to limited knowledge, designers are unaware of the design-results risks during the different of the project lifecycle, including construction, operation, and maintenance. Effective DFS can be conducted if the designer understands the effect of the building shape on the safety accident rate and corresponding safety management cost(SMC). The cost of safety facilities such as fall prevention nets and safety fences will vary depending on the shape of the building. This study analyzes the outer perimeter length's impact on SMC. Following the data collection from 21 projects for this study, an analysis was conducted using the independent variables of the building perimeter(BP), building shape factor(BSF), and building area(BA), the dependent variable of SMC. The correlation R2 was found to be 0.876, 0.801 and 0.792 between the BP and SMC, BSF and SMC, BA and SMC, respectively, indicating that these factors were closely related.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.28 no.5D
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• pp.695-703
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• 2008

China water market has huge potential for increased use of BOT mode and one of the most attractive markets of doing business. However, the current China water BOT market shows that many foreign companies are retreating from the market while Chinese water companies fast growing. From the view no domestic companies have track records in China BOT water market, the research identified twenty market access barriers in terms of construction laws, regulations, BOT-related policy and the recent market situation. These are evaluated based on interview results with 10 professionals direct or indirect having a China water BOT experience. All the factors are found to be highly influential to foreign company's decision on the market participation. Among those, no fixed return policy and low water price, difficulty in water price adjustment and approval, and no government guarantees, all directly related to the project viability and under the control of government, were the most critical factors, implying government's role is the key in increasing the market competition by attracting more foreign participation on the market. In addition, new construction law regulating foreign EPC contractor's construction work, namely Decree 113, and requirement of applying competitive bidding in selecting EPC contractor in a BOT project are also considered signigicant barriers on foreign participation, which contradicts international norm and therefore necessitates an adjustment on current decision process in domestic companies.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.28 no.1D
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• pp.107-117
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• 2008

Private financing is playing an increasing role in public infrastructure construction projects worldwide. However, private investors/operators are exposed to the financial risk of low profitability due to the inaccurate estimation of facility demand, operation income, maintenance costs, etc. From the operator's perspective, a sound and thorough financial feasibility study is required to establish the appropriate capital structure of a project. Operators tend to reduce the equity amount to minimize the level of risk exposure, while creditors persist to raise it, in an attempt to secure a sufficient level of financial involvement from the operators. Therefore, it is important for creditors and operators to reach an agreement for a balanced capital structure that synthetically considers both profitability and repayment capacity. This paper presents an optimal capital structure model for successful private infrastructure investment. This model finds the optimized point where the profitability is balanced with the repayment capacity, with the use of the concept of utility function and multi-objective GA (Generic Algorithm)-based optimization. A case study is presented to show the validity of the model and its verification. The research conclusions provide a proper capital structure for privately-financed infrastructure projects through a proposed multi-objective model.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.31 no.6B
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• pp.551-563
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• 2011

Water resource projects need an enormous national budget. Therefore, a reasonable and reliable decision making is required for the planning of water resource projects, but decision making has been mostly performed by economic analysis. The objective of this study is to develop a Multi-criteria Decision Making(MCDM) model which can assess the project in various aspects for the selection of preferable alternative and determination of investment priority in water resource projects. In this study, the criteria involves economic feasibility, policies, vulnerability, and sub-items which have weights obtained from the expert survey for the consistent evaluation. We also derived the utility function considering risk trend of each item based on the expert survey. Then, the total score was estimated by weights of each item and utility score of each attribute. The results show that vulnerability is a major contributor for the criteria. This study will contribute to the selection of proper water resource projects considering efficiency of project and fairness for vulnerable area.

• KIPS Transactions on Software and Data Engineering
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• v.2 no.12
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• pp.841-848
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• 2013

Nowadays, the finance changes so rapidly that the time period of developing a e-banking system has been shorter. As a result, the risk of developing in the new e-banking system has increased. Therefore financial institutions constantly ask to review the quality test of their system during the project development. However, from the developer's point of view, additional system quality inspection will delay the development time for a new project, so financial investors and developers, because this problem will cause conflict. In order to solve this problem, in this paper define priority that considered characteristics of e-banking system and thereby design range priority decision criteria for efficient code inspection. Even in the e-banking system development, it is expected that using newly designed range of code inspection will allow high efficient quality performance.

• Korean Journal of Construction Engineering and Management
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• v.13 no.6
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• pp.45-53
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• 2012

Recently, with achieved US$ 500 Billion international cumulative construction order, the Korean government presented overseas construction industry visions for international orders of US$ 100 Billion and entering the top five countries in global construction market. Also, Korean companies are developing strategies for expansion of international markets. However, ODA loan projects are low risk for the Korea Construction companies trying to advance their overseas business. This study provides data-based advice on securing competence for Korean construction companies entering the global market through the ODA loan projects. To analysis construction firm's competitiveness for ODA loan project, FGD was utilized and BSA model was applied to the valuable analysis. Competencies highly assessed were construction quality control, relationship building through high-level diplomatic activities, and project management. Competencies requiring urgent improvement were handling risks of local countries, financing projects, and developing know-how within participating companies.

• Journal of the Korean Society of Safety
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• v.35 no.3
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• pp.24-31
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• 2020

The duty of construction clients in WSH (Workplace Safety and Health) system was included in the amendment of Occupational Safety and Health Act (enforced on 16 January 2020), which was estimated the shift of paradigm in the prevention of construction accidents. The purpose of this paper is to introduce the analysis results of construction clients' role in the construction project, which were performed by authors over the recent years in order to impose the duty on construction clients, and to suggest their role according the plan, design, and construction stage. Utilizing the systematic literature review process based on Meta analysis, the related papers were selected. For the selected papers, related domestic and foreign regulations, and other prominent report, the construction clients' role was analyzed by reflecting the experts' advice. Results show that the construction clients should control the designer and contractor for implementing the WHS system during the whole process of the construction project. They should supply sufficient source and time to ensure the workers' safety. In the plan stage, the key role of construction clients is to identify intensively controlled hazard and risk reduction plan and to transfer the results. In the design stage, their key role is to select the designer with the capacity in WSH and to assist the designer for the safety design. The main key role of construction clients in the costruction stage is to select the contractor with specialty in WSH including a contract reflecting the WSH requirement and to check implementation of WSH plan, WSH cost, WSH education, and accident report. In addition, it is thought that the construction clients' participations in the site WSH activity and adjustment of safety and health problem among contractors can be effect in the prevention of construction accidents.

• Korean Journal of Construction Engineering and Management
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• v.21 no.6
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• pp.56-65
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• 2020

Urban renovation projects (reconstruction and redevelopment) have a longer licensing period than general housing projects, and many consultations with the licensing authorities require expertise. Most of the members of the union do not have basic knowledge of the maintenance business, so they have a lot of authority to promote smooth business Is entrusted to the union leader. However, contrary to the original purpose entrusted by the members, it is easy to find a case where the business is suspended because the union leader is exposed to corruption for the private interests of the union, and the members' disputes could not be resolved. In order to overcome this risk, the problem of the maintenance project was found through a questionnaire survey composed of practical experts, and a solution was presented through the KCSI evaluation model. This study mentioned the necessity of a responsible CM that can make independent business decisions without interference from the union, rather than a management-type CM limited to the cooperative's work assistance. In order to promote the construction industry's national role, it was necessary to revitalize responsible CM, so six practical alternatives were proposed.

• Korean Journal of Construction Engineering and Management
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• v.18 no.2
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• pp.91-98
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• 2017

Due to climate change, countries around the world are actively investing in renewable energy, reducing fossil fuel use. 23.7% of world electricity is supplied by renewable energy. As the technology continues to develop, it is in a level to compete in terms of power generation cost, and investment conditions are improving. However, investment in renewable energy projects is not easy. This study analyzed trends of domestic and international researches on economics assessment applying real options analysis to investment decisions of hydro, solar, and wind power projects, which account for a large portion of renewable energy. This study provides (1) the difference between the traditional economic method and the real options analysis, (2) the application process, and (3) the uncertainty elements and option type of the renewable energy project presented by many studies. The real options analysis is suitable for the detailed investment strategy by considering the uncertainties of the renewable energy project and applying the option to improve the profit or to avoid the risk.

• Journal of Environmental Impact Assessment
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• v.9 no.4
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• pp.277-290
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• 2000

The purpose of this study is to identify the problems of environmental impact assessment(EIA) and to suggest new EIA technology. The problems of EIA in Korea can be summarized as follows. First, the EIA does not reflect the impact of policy, plan and program on environment. Second, the project EIA does not consider the cumulative impacts such as additive impacts, synergistic impacts, threshold/saturation impacts, induced and indirect impacts, time-crowded impacts, and space-crowded impacts. Third, the EIA techniques in Korea are not standardized. Finally, the present EIA suggests only alternatives to reduce adverse impacts. To solve above-mentioned problems, the development of new EIA technology is essential. First, the new EIA technology should be developed toward pollution prevention technology and comprehensive and integrated environmental management technology. Second, new fields of EIA for pollution prevention contain strategic environmental assessment, cumulative impacts assessment, socio-economic impact assessment, cyber EIA and EIA technology necessary after the reunification of Korean Peninsula. Third, EIA technology for integrated environmental management contains the development of integated environment assessment system and the development of packaged EIA technology. The EIA technology for integrated environmental assessment system contains (1) development of integrated impact assessment technology combining air/water quality model, GIS and remote sensing, (2) integrated impact assessment of EIA, traffic impact assessment, population impact assessment and disaster impact assessment. (3) development of integrated technology combining risk assessment and EIA (4) development of integrated technology of life cycle assessment and EIA, (5) development of integrated technology of spatial planning and EIA, (6) EIA technology for biodiversity towards sustainable development, (7) mathematical model and GIS based location decision techniques, and (8) environmental monitoring and audit. Furthermore, there are some fields which need packaged EIA technology. In case of dam development, urban or industrial complex development, tourist development, landfill or combustion facilities construction, electric power plant development, development of port, road/rail/air port, is necessary the standardized and packaged EIA technology which considers the common characteristics of the same kind of development project.