• The Pure and Applied Mathematics
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• v.20 no.4
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• pp.287-298
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• 2013

A standard deviation has been a starting point for a mathematical definition of risk. As a remedy for drawbacks such as subadditivity property discouraging the diversification, coherent and convex risk measures are introduced in an axiomatic approach. Choquet expectation and g-expectations, which generalize mathematical expectations, are widely used in hedging and pricing contingent claims in incomplete markets. The each risk measure or expectation give rise to its own pricing rules. In this paper we investigate relationships among dynamic risk measures, Choquet expectation and dynamic g-expectations in the framework of the continuous-time asset pricing.

• Journal of Korean Society for Atmospheric Environment
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• v.13 no.4
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• pp.257-267
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• 1997

This study focuses on the health risk assessment of airborne volatile organic compounds (VOCs) in a petrochemical complex, with several emphases on a risk assessment method. The first emphasis is on the importance of hazard identification to determine the likely carcinogenic potential of a VOC. Without considering this type of information, a direct comparison of the carcinogenic risks of two pollutants is meaningless. Therefore, wer suggest that this type of information be prepared and be listed with the estimate of cancer risk in parallel. The second emphasis is on the selection of a better dose-response model to estimate unit risk or cancer potency factor of a carcinogenic VOC. Finally, probilistic risk assessment method is discussed and recommended to use within a comparison of conventional point-estimate method. A health risk assessment has also been carried out. For non-carcinogenic risk, even the highest hazard index for carbon tetrachloride is estimated to be less than 1 with the other VOCs less than 0.03. However, the lifetime cancer risk from the inhalation of airborne VOCs is estimated to be about $2.6 \times 10^{-4}$ which is higher than the risk standard of $10^{-6}$ or even $10^{-5}$. Therefore, the investigation into domestic petrochemical complexes should be strengthened to obtain more fine long-term airborne VOC data.

• Korean Journal of Construction Engineering and Management
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• v.24 no.2
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• pp.59-69
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• 2023

FIDIC White Book is a Model Services Agreement between the Client and the Consultant. This study aimed to derive the Key Risk Sub-Clauses out of 63 Sub-Clauses of General Conditions of the FIDIC White Book by using the Delphi technique. A panel of 40 experts with more than 10 years of experience and expertise in overseas construction services agreements and FIDIC White Book was formed, and the reliability was improved in the direction of increasing the consensus of experts through a total of three Delphi survey processes. In the first Delphi survey, a closed-type survey was conducted on the impact of risk among 63 Sub-Clauses of General Conditions on a Likert 5-point scale, and 26 main risk Sub-Clauses were derived. The Content Validity of the results of the first Delphi survey was verified with the CVR value. In the 2nd and 3rd Delphi surveys, a closed-type survey was conducted on a Likert 10-point scale for 26 main risk Sub-Clauses and the risk possibility and impact of each main risk Sub-Clause were evaluated. The reliability of the 3rd Delphi survey result was verified with the COV value. Total 14 Key Risk Sub-Clauses were derived by applying the average risk possibility and impact of each of the 26 main risk Sub-Clauses to the PI Risk Matrix. The results of deriving Key Risk Sub-Clauses showed that agreement on specific scope of service, delay management, and change management were the most important. As a result of this study, from a practical point of view, consultants of consulting companies provide guidelines that should be reviewed to minimize contractual risks when signing service contracts with clients. From an academic point of view, the direction of research on deriving key risks related to service contracts for consultants participating in overseas construction is presented.

• Journal of Korean Academy of Fundamentals of Nursing
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• v.13 no.2
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• pp.190-199
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• 2006

Purpose: To provide basic data and to identify the risk of pressure ulcers among neurological patients in ICU. Method: The participants in the study were on 78 neurological patients in the ICU of 3 hospitals. Data were collected every other day from 24 hours after admission, for up to 40 days or until discharge. The total period of data collection was 3 months. The risk assessment scales used for pressure ulcer were the Cubbin & Jackson(1991) scale and the National Pressure Ulcer Advisory Panel(1989) skin assessment tool. Results: There was a significant relationship between having a pressure ulcers and weight, skin condition, mental status, respiration, hygiene and hemodynamic status compared to not having a pressure ulcer. The incidence rate of the pressure ulcer was 28.2%(n=22). Of these patients the mean number of hospitalization days until pressure ulcer development was 5.2 days. The most common pressure ulcer site was the coccyx(39.3%). Based on a cut-off point of 24, 9 patients with risk scores <24 on admission also showed risk score for development of pressure ulcers, 10 patients with pressure ulcer scores ${\geq}24$ were older, hospitalized for a longer time, had low serum albumin, low hemoglobin, diabetes mellitus and surgery. Conclusion: In order to make the Cubbin & Jackson risk assessment scales more useful, there is a need to determine the reliability of the upper cut-off point 24. The result also showed a need to assess other risk factors and for early identification of at-risk patients in order to provide preventive care from admission to discharge.

• Journal of the Earthquake Engineering Society of Korea
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• v.1 no.4
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• pp.29-35
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• 1997

The probabilistic seismic risk in Seoul Metropolitan Area $(atitude도 37.0^{circ}~37.8^{circ} N, longitude 126.5^{circ}~127.5^{circ} E)$ based on all Korean earthquake data of MM Intensity equal to or greater than V is evaluated by point source method. The seismic risk estimated from all data turned out to be lower than that from the data since the Choseon Dynasty during which seismic data appear to be rather complete. The damaging earthquake of peak horizontal ground acceleration greater than 0.1g turns out to occur with 90% probability of being exceeded in 200 years and 500 years when the data since Choseon Dynasty and all data are used, respectively.

• Earthquakes and Structures
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• v.20 no.3
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• pp.337-351
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• 2021

On September 12, 2016, the Gyeongju earthquake occurred in the south-eastern region of the Korean peninsula. The event was ranked as the largest magnitude earthquake (=5.8) since instrumental recording was started by the Korean Metrological Administration (KMA) in 1978. The objective of this study is to provide information obtained from the 2016 Gyeongju earthquake and to propose a procedure estimating seismic risk of a typical old RC building for past and potential earthquakes. Ground motions are simulated using the point source model at 4941 grid locations in the Korean peninsula that resulted from the Gyeongju earthquake and from potential future earthquakes with the same hypocenter considering different soil conditions. Nonlinear response history analyses are conducted for each grid location using a three-story gravity-designed reinforced concrete (RC) frame that most closely represents conventional old school and public buildings. Then, contour maps are constructed to present the seismic risk associated with this building for the Gyeongju earthquake and potential future scenario earthquakes. These contour maps can be useful in the development of a mitigation plan for potential earthquake damage to school and public buildings at all grid locations on the Korean peninsula.

• Journal of the Korean Society of Safety
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• v.29 no.3
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• pp.121-128
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• 2014

Risk assessment system which is the point of occupational safety and health management system is recognized to be effective to prevent industrial accident and occupational disease internationally. Ministry of Employment and Labor developed guidance on risk assessment at workplace recently. This guidance presents standard model on risk assessment at workplace. However, enterprises may be confronted with many questions in the process of introducing and operating risk assessment. For risk assessment to be implemented properly and effectively at workplace, there are various questions that need to be considered in advance, including giving shape to standard on risk evaluation and clarifying the implementation system at workplace in advance. Also for risk assessment to be revitalized at workplace, several policy matters need to be settled. First, an administrative agency should present the implementation method of risk assessment more concretely. Secondly, it is necessary for an administrative agency to develop and spread various detailed manual, models and good practices related to risk assessment. Thirdly, a government agency need to apply an incentive & disadvantage policy actively to risk assessment.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 1992.04b
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• pp.403-412
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• 1992

This note examines a situation where a risk-neutral insurer and a risk-averse individual (prospective insured) negotiate to reach an arbitration point of the price of insurance over the terms of an insurance contract in order to maximize their respective self-interests. The situation is modeled as a Nash bargaining problem. We analyze the dependence of the price of insurance, which is determined by the Nash solution, on the parameters such as the size of insured loss, the probability of a loss, the degree of risk-aversion of the insured, and the riskiness of loss distribution.

• Proceedings of the Korea Environmental Mutagen Society Conference
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• 2005.05a
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• pp.21-26
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• 2005

[ $\cdot$ ] Occupational safety and health is a key component of responsible nanotechnology $\cdot$ Nanotechnology challenges conventional approaches to addressing occupational safety and health risk $\cdot$ Nanomaterials and devices of concern include those capable of entering the body and causing harm as a result of their nanostructure $\cdot$ Proactive risk assessment and management requires extensive strategic research $\cdot$ Current knowledge provides a staring point for addressing risk

• Nuclear Engineering and Technology
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• v.49 no.2
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• pp.286-294
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• 2017

The events at the Fukushima Daiichi Nuclear Power Station in March 2011 point out, among other matters, that concurrent accidents at multiple units of a site can occur in reality. Although site risk has been deterministically considered to some extent in nuclear power plant siting and design, potential occurrence of multi-unit accident sequences at a site was not investigated in sufficient detail thus far in the nuclear power community. Therefore, there is considerable worldwide interest and research effort directed toward multi-unit site risk assessment, especially in the countries with high-density nuclear-power-plant sites such as Korea. As the technique of probabilistic safety assessment (PSA) has been successfully applied to evaluate the risk associated with operation of nuclear power plants in the past several decades, the PSA having primarily focused on single-unit risks is now being extended to the multi-unit PSA. In this paper we first characterize the site risk with explicit consideration of the risk associated with spent fuel pools as well as the reactor risks. The status of multi-unit risk assessment is discussed next, followed by a description of the emerging issues relevant to the multi-unit risk evaluation from a practical standpoint.