• International conference on construction engineering and project management
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• 2020.12a
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• pp.278-288
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• 2020

Modular Integrated Construction (MiC) has gained quite momentum as it provides solutions for several problems in the construction sector, particularly in Hong Kong. MiC is converting the building into modules and erecting them easily on site providing various benefits, such as cost and time savings, better quality, lower risk, higher sustainability, less injuries and accidents, etc. The MiC is considered the best alternative to traditional construction approaches in solving the huge housing demand problem in many cities all over the world due to the time-saving privilege. The utilization of MiC is facing a lot of challenges, which are considered obstacles to the wide acceptance of this technique in the construction industry in Hong Kong. This, in turn, has led the interests of the research community to investigate its benefits and challenges aiming at addressing several solutions to harness the benefits of this technique and to tackle these challenges. The present research aims to review the main concept of MiC and to determine the benefits and the challenges of implementing MiC in construction industry. The findings of this research highlight the advantages and limitations of incorporating MiC technique in Hong Kong, which will help the stakeholders to effectively utilize this technique in the construction industry.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.602-603
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• 2015

Despite all efforts to reduce construction disaster, construction site accident rate has steadily increased in Korea since 2008. As a different approach from traditional research, there is a growing issue about design for safety concept to prevent construction disaster. The notion is that construction worker's safety need to be considered at design phase, not only at construction phase. Globally, the notion has been noted that to improve the safety of the worker and used in practice. However, in Korea, most of safety management guidelines are limited to construction phase. From recent statistics, only 1.4 percent of designer feel responsible for safety accident at construction site. In this circumstance, this research find out safety guidelines through literatures reviews and practical experience of safety management in other country which apply design for safety concept. Selected guidelines are verified by survey which is evaluated with risk, function, cost, time and aesthetic view categories. Through the survey, define guidelines which could be effectively applied in Korea. By using proposed safety guidelines for design phase, preventing construction accident and improving designer's recognition of safety issue at design phase are expected.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.92-96
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• 2015

Due to unique characteristics of small construction companies, safety management is comprised of complex problems (e.g., resources constraints, a lack of formalized management structures, low level of management safety commitment etc.). In order to understand causal interdependencies between safety factors at different system levels (regulation, organization, technical and individual), this paper aims to develop a system dynamics (SD) model of safety management in small construction companies. The purpose of the SD model is to better understand why small construction companies have low level of safety performance. A causal loop diagram (CLD) was developed based on literature, with an attempt to map causal relationships between variables. The CLD was then converted into stock and flow diagram for simulation. Various tests were conducted to build confidence in the model's ability to represent the reality. A number of policies were analyzed by changing the value of parameters. The value of a system dynamics approach to safety management in small construction companies is its ability to address joint effects of multiple safety risk factors on safety performance with a systems thinking perspective. By taking into account feedback loops and non-linear relationships, such a system dynamics model provides insights into the complex causes of relatively poor safety performance of small construction companies and improvement strategies.

• International conference on construction engineering and project management
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• 2011.02a
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• pp.382-388
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• 2011

Being aware of the risk in advance necessitates intricate processes but is feasible. Although previous studies have demonstrated high accuracy, their performance still leaves room for improvement. A self-organizing feature map (SOM) based neurofuzzy model is developed in this study to provide another alternative for forecasting corporate financial distress. The model is designed to yield high prediction accuracy, as well as reference rules for evaluating corporate financial status. As a database, the study collects all financial reports from listed construction companies during the latest decade, resulting in over 1000 effective samples. The proportion of "failed" and "non-failed" companies is approximately 1:2. Each financial report is comprised of 25 ratios which are set as the input variable s. The proposed model integrates the concepts of pattern classification, fuzzy modeling and SOM-based optimization to predict corporate financial distress. The results exhibit a high accuracy rate at 85.1%. This model outperforms previous tools. A total of 97 rules are extracted from the proposed model which can be also used as reference for construction practitioners. Users may easily identify their corporate financial status by using these rules.

• Journal of Korea Water Resources Association
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• v.40 no.5
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• pp.383-396
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• 2007

The studies on efficiency of flood control reservoir has been introduced into four categories including direct flood control contribution by reservoir, flow-duration change and environmental-ecological change in downstream of dam and flood damage estimation of flood plain. In spite of all the previous approaches, the quantification of the effect of reservoir on the flood control in planning stage is quite complex due to lack of a standard for quantifying feasibility of project. In this study, we develop a methodology that can clearly and accurately quantify the flood damage reduction together with the existing flood level reduction at downstream. The proposed approach uses three appraisal standards of flood control: 'potential safety', 'relative risk' and 'absolute risk' according to the risk by stage. The developed methodology was applied to the Namhan river basin with the storm event of July, 2006. The result shows the damage reduction of 4,189 billion won was estimated. The economic benefits for the flood control effect by dam will greatly contribute to the public understanding of the importance and the effect of the flood control by dam.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.306-310
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• 2002

Agreements such as the Uruguay Round and the New Round have dramatically changed international construction markets. The globalization of the construction industry provides tremendous opportunities for construction industry, while it generates the complex skeins of risks to contractors wllo would like to expand into new foreign markets. According to ENR, recently about $13.9\%$ of contractors that entered international construction markets have experienced loss in projects and furthermore, their average profits have also declined continuously. Accordingly, contractors need a strategic risk management system for assessing various risks and improving Profitability for overseas construction projects. This paper discusses the long-term trend of profitability performed by Korean contractors in international construction markets during the last 35 years. Then, it identifies the key factors that affect the profitability significantly through the structured surveys from 59 actual overseas projects. These factors can be used for developing a risk management system for international construction project.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.5
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• pp.113-127
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• 2020

Based on the social exchange theory and innovation diffusion theory, this study is to identify the correlation between factors influencing investor's funding intention in crowdfunding and to analyze moderating effect of trust in the relationship of shared value, communication and individual innovation. The purpose of this study is to consider the funding trends of crowdfunding investors from a personal point of view through the results of the study and to help fundraiser of crowdfunding establish specifically strategies for financing. In order to conduct empirical analysis, an online survey was conducted on people who had participated in crowdfunding, and a total of 228 questionnaires were collected and a total of 186 responses were finally analyzed, excluding outliers. For data analysis, structural equation model analysis was conducted using SPSS 26.0 and Smart PLS 3.0. The results of this study showed that shared value in the relationship between fundraiser and investors has a significant effect on the perceived risk. High level of communication between fundraiser and investors showed positive effects on the level of commitment of the crowdfunding project and the innovation of the individual investor. And commitment had a positive effect on the funding intention. According to the results of this research, trust has moderating effect only in relationship between shared value and perceived risk. It is significant that investors share the value of fundraiser together is a motivation factor to fund in crowdfunding and an opportunity to recognize the risk. Through this study, it is expected to utilize them in establishing strategies for start-ups and marketing plans to raise funds through crowdfunding and to empirically identify factors influencing the funding intention through individual levels of crowdfunding investors.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.14 no.11
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• pp.5964-5970
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• 2013

The recent budget planning for highway infrastructure implied that the investments for Operation & Maintenance(O&M) became greater than that for new construction. This circumstance made many stakeholders pay attention to the O&M of road infrastructure and adopt other countries' policies and system for effective management. In other countries, most O&M for road infrastructure have been done by private entities using long-term contract and Korea is about to shift from one year contract to long-term contract. The most important parts for the expansion of the long-term O&M contract for road infrastructure are valuation of the O&M contract based on accurate prediction of O&M costs and instrument for proper risk sharing between contracting parties. Thus, this study provides a methodology to estimate a reasonable O&M contract price and a framework to share contract risk between contracting parties using real option. The analysis results showed that the contract price and ceiling and floor conditions for the 20 year-contract of 20 km-highway project were 45.7, 60 and 42.3 billion won, respectively.

• Korean Journal of Agricultural and Forest Meteorology
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• v.8 no.1
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• pp.28-35
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• 2006

An accurate prediction of budburst in grapevines is indispensable for vineyard frost warning system operations in spring because cold tolerance depends heavily on phonology. However, existing frost warning systems utilize only daily minimum temperature forecasts since there is no way to estimate the site-specific phonology of grapevines. A budburst estimation model based on thermal time was used to project budburst dates of two grapevine cultivars (Kyoho and Campbell Early), and advisories were issued depending on phonology as well as temperature. A 'warning' is issued if two conditions are met: the forecasted daily minimum temperature falls below $-1.5^{\circ}C$ and the estimated phonology is within the budburst period. A 'watch' is issued for a temperature range of -1.5 to $+1.5^{\circ}C$ with the same phonology condition. Validation experiments were done at 8 vineyards in Anseong in spring 2005, and the results showed a good agreement with the observations. This method was applied to the climatological normal year (1971-2000) to determine sites with high frost risk at a 30 m grid cell resolution. Among 608,585 grid cells constituting Anseong, 1,059 cells were identified as high risk for growing Kyoho and 2,788 cells for Campbell Early.

• Korean Journal of Ecology and Environment
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• v.41 no.1
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• pp.34-42
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• 2008

Water quality standards (WQS) are mandatory to guarantee the human health and protection of aquatic ecosystems, and maintain the condition of suitable water quality. The present WQS for the protection of human health in Korea contain nine substances (As, Cd, $Cr^{6+}$, CN, Pb, Hg, ABS, organophosphorus compounds and PCBs), but it is insufficient to preserve the human and aquatic ecosystem from a variety of chemicals. Therefore, it is necessary to expand the substance of WQS for the protection of human health. In this study, we chose the 20 chemicals from 43 chemicals of the project entitled 'Development of Integrated Methodology for Evaluation of Water Environment'. The methodology for calculating water quality criteria was amended from the US Environmental Protection Agency (US EPA)'s equation for deriving ambient water quality criteria for the protection of human health. The factors including fish intake, drinking water intake, and human body weight used in the equation reflected Korean situations. The monitoring values were derived from the water quality monitoring data in Korean four main rivers. The orders of priorities of chemicals were evaluated by human health risk assessment, and the proposed WQS was derived by technical and economic analyses. These results were reflected to expand the WQS for the protection of human health.