• Korea Trade Review
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• v.43 no.5
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• pp.1-23
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• 2018

Forfaiting is a trade finance facility whereby financial institution purchases accounts receivable from exporters on a without recourse basis to resolve exporters' credit risk. Since the effectuation of Uniform Rules for Forfaiting(URF 800), exporting companies have been interested in forfaiting and foreign exchange banks in South Korea have expanded products related to forfaiting. However, the risk management for dealing with forfaiting needs improvement. In this paper, we will compare current forfaiting risk managements between foreign exchange banks and foreign banks in South Korea by studying the agreements for each bank and standard forfaiting agreements of the ICC. There is a significant gap for risks covered and points of reserve(points of recourse) between each bank. This work suggests the need for unification for these gaps in order to enhance risk management for exporting companies and foreign exchange banks in South Korea.

• Plant Journal
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• v.7 no.2
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• pp.39-43
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• 2011

Due to the recent uncertainty of market situations such as the escalation of petroleum prices, increased production capacities of plants, limitations of the available EPC (Engineering, Procurement, Construction) contractors, and the increase of raw material prices, EPC contractors have had a tendency to include a higher reserve contingency in the lump-sum turnkey contract price. In order to overcome the changes in the market, the plant project construction industry has started to apply the converted lump-sum turnkey contract in plant construction market. This study was focused to find the associated risks and to analyse the identified risks on recent trend of application of the new contract type, which is the converted lump-sum turnkey contract. It was recognized from the analysis that quality and cost have more high priority risks than other project objectives. This paper also suggests the mitigation plan for identified risks to achieve project objectives appropriate to the converted lump-sum turnkey project from the viewpoint of an EPC contractor keeping transparency with owner.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.17
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• pp.93-125
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• 2002

This paper aims to find a reasonable solvency margin system in non-life insurance industry and also to evaluate the appropriateness of the current solvency margin regulation system in Korea. The current solvency margin system in Korea, based on EU's solvency margin model, was introduced during the 1997 financial crisis. The solvency requirement is not based on non-life insurer's risk, but simply on written premiums. The current solvency margin for general insurance, such as fire, marine, and automobile insurance, is determined by the greater between a premium-based amount and a claim-based amount, where the premium-based solvency margin is calculated by multiplying the net written premium for the preceding year by the premium based solvency margin ratio. Also, the amount of solvency margin for long term insurance is set at 4% of the policy reserve of the long term insurance. Still, there exist many differences between the current solvency margin regulation system in Korea and EU's model. This paper focuses on the rationality of the solvency margin regulation system, and compares the current system in Korea with EU's model and the RBC(Risk Based Capital) system in U.S. and Japan. Finally, this paper suggests a more specific and reasonable solvency margin system to be developed in Korea.

• KDI Journal of Economic Policy
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• v.34 no.2
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• pp.17-40
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• 2012

We study externality costs of capital investment under limited commitment. We solve for the constrained efficient allocation with a limited commitment environment and find positive externality costs of capital investment provided that full-risk-sharing is not feasible. In a decentralized version of limited commitment environment, a one unit increase of capital investment by an agent increases all individuals' autarky values in the economy and generates externality costs in the economy. This externality cost provides a rationale for positive capital taxation even in the absence of government expenditure. In order to internalize this costs, the government use a positive rate of linear capital tax in the decentralized economy.

• Computers and Concrete
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• v.29 no.4
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• pp.263-278
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• 2022

Limestone calcined clay cement (LC³) is a low carbon alternative to conventional cement. Literature shows that using limestone and calcined clay in LC³ increases the thermal degradation of LC³ pastes and can increase the magnitude of fire risk in LC³ concrete structures. Higher thermal degradation of LC³ paste prompts this study toward understanding the fire performance of LC³ concrete and the associated magnitude of fire risk. For fire performance, concrete prepared using ordinary Portland cement (OPC), pozzolanic Portland cement (PPC) and LC³ were exposed to 16 scenarios of different elevated temperatures (400℃, 600℃, 800℃, and 1000℃) for different durations (0.5 h, 1 h, 2 h, and 4 h). After exposure to elevated temperatures, mass loss, residual ultrasonic pulse velocity (rUPV) and residual compressive strength (rCS) were measured as the residual properties of concrete. XRD (X-ray diffraction), TGA (thermogravimetric analysis) and three-factor ANOVA (analysis of variance) are also used to compare the fire performance of LC³ with OPC and PPC. Monte Carlo simulation has been used to assess the magnitude of fire risk in LC³ structures and devise recommendations for the robust application of LC³. Results show that LC³ concrete has weaker fire performance, with average rCS being 11.06% and 1.73% lower than OPC and PPC concrete. Analysis of 106 fire scenarios, in Indian context, shows lower rCS and higher failure probability for LC³ (95.05%, 2.22%) than OPC (98.16%, 0.22%) and PPC (96.48%, 1.14%). For robust application, either LC³ can be restricted to residential and educational structures (failure probability <0.5%), or LC³ can have reserve strength (factor of safety >1.08).

• Journal of Digital Convergence
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• v.18 no.11
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• pp.87-97
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• 2020

This study summarized longevity factors of enterprises and presented longevity mechanism. By analogy of human aging and corporate longevity, the company's decline and longevity phenomenon were analyzed to derive corporate longevity mechanism, presented domestic and foreign longevity enterprises' cases study using above mechanism. The longevity mechanism first, as the human body restricts free radicals by dietary restrictions, companies also need continuous input efficiency. Second, as cognitive reserve by high thinking activities helps heath lifespan, companies can strengthen their profitability by continuous R&D. Third, as humans improve antioxidant functions by exercise, companies should develop risk management capabilities for environmental changes. This study can contribute to sustainable strategies for corporate managers, ultimately plan to suggest model of evaluation or diagnosis of corporate longevity.

• Proceedings of the KIEE Conference
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• 1995.07b
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• pp.562-564
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• 1995

This paper proposes a new algorithm for maintenance scheduling with considering load forecast uncertainty. The proposed algorithm is based on the equivalent load of effective load carrying capability(ELCC) of generators. The uncertainty of forecasted load is considered as a normal distribution probability density function. For maintenance scheduling, reserve levelization method and risk levelization method are used in this study. To test the algorithm, we applied the proposed method to IEEE reliability test system(IEEE RTS). As a result, we verified the validity of the proposed method.

• Nuclear Medicine and Molecular Imaging
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• v.41 no.2
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• pp.85-90
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• 2007

Acute event in cerebrovascular disease is the second most common cause of death in Korea following cancer, and it can also cause serious neurologic deficits. Understanding of perfusion status is important for clinical applications in management of patients with cerebrovascular diseases, and then the attacks of ischemic neurologic symptoms and the risk of acute events can be reduced. Therefore, the normal vascular anatomy of brain, various clinical applications of acetazolamide-enhanced brain perfusion SPECT, including meaning and role of assessment of vascular reserve in carotid stenosis before procedure, in pediatric Moyamoya disease before and after operation, in prediction of development of hyperperfusion syndrome before procedure, and in prediction of vasospasm and of prognosis in subarachnoid hemorrahge were reviewed in this paper.

• Health Policy and Management
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• v.31 no.1
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• pp.1-4
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• 2021

With this as a momentum of approval Pfizer vaccine against coronavirus disease 2019 (COVID-2019), it is changed to the era of vaccine rapidly. Most countries are trying to reserve effective vaccines and inoculate vaccines into high-risk populations for achieving community immunity. I reviewed several vaccine-related issues to be confronted for moving up to the end of COVID-2019: the efficacy and effectiveness of the approved vaccines, the priorities for vaccination into target groups, side effects, and distrust towards COVID-2019 vaccines. Evidence-based decision-making in the policy process and collaboration with professional groups are the most effective strategies for driving successful vaccination policy.

• Asian Pacific Journal of Cancer Prevention
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• v.17 no.8
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• pp.3663-3673
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• 2016

Cervical cancer (CaCx) is the second most fatal cancer contributing to 14% of cancers in Indian females, which account for 25.4% and 26.5% of the global burden of CaCx prevalence and mortality, respectively. Persistent infection with high-risk human papilloma virus (HPV- strains 16 and 18) is the most important risk factor for precursors of invasive CaCx. Comprehensive prevention strategies for CaCx should include screening and HPV vaccination. Three screening modalities for CaCx are cytology, visual inspection with acetic acid, and HPV testing. There is no Indian national policy on CaCx prevention, and screening of asymptomatic females against CaCx is practically non-existent. HPV vaccines can make a major breakthrough in the control of CaCx in India which has high disease load and no organized screening program. Despite the Indian Government's effort to introduce HPV vaccination in the National Immunization Program and bring down vaccine cost, challenges to implementing vaccination in India are strong such as: inadequate epidemiological evidence for disease prioritization, duration of vaccine use, parental attitudes, and vaccine acceptance. This paper reviews the current epidemiology of CaCx and HPV in India, and the current status of HPV vaccination in the country. This article stresses the need for more research in the Indian context, to evaluate interventions for CaCx and assess their applicability, success, scalability and sustainability within the constraints of the Indian health care system.