• Journal of the Korean Society of Safety
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• v.28 no.6
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• pp.90-96
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• 2013

Since the last 50 years, the terminology 'risk' has been widely used in general and industrial applications, with different meanings. The different definitions of risk can lead to the different risk assessments and risk management process elements, and the misunderstandings. For the reasons, the ISO(International Standard Organization) has recently defined a new risk concept through the publication of IS0 31000:2009. Although the new concept of risk was globally accepted, it seem to be argued in its definition debate. Thus, this paper reviews the definition and meaning of the concept of risk in terms of risk origin, general and industrial applications, related domestic laws and risk management standards published to improve an understanding of risk concept.

• Nuclear Engineering and Technology
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• v.46 no.1
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• pp.11-26
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• 2014

The analyses carried out within the Seismic Probabilistic Risk Assessments (SPRAs) of Nuclear Power Plants (NPPs) are affected by significant aleatory and epistemic uncertainties. These uncertainties have to be represented and quantified coherently with the data, information and knowledge available, to provide reasonable assurance that related decisions can be taken robustly and with confidence. The amount of data, information and knowledge available for seismic risk assessment is typically limited, so that the analysis must strongly rely on expert judgments. In this paper, a Dempster-Shafer Theory (DST) framework for handling uncertainties in NPP SPRAs is proposed and applied to an example case study. The main contributions of this paper are two: (i) applying the complete DST framework to SPRA models, showing how to build the Dempster-Shafer structures of the uncertainty parameters based on industry generic data, and (ii) embedding Bayesian updating based on plant specific data into the framework. The results of the application to a case study show that the approach is feasible and effective in (i) describing and jointly propagating aleatory and epistemic uncertainties in SPRA models and (ii) providing 'conservative' bounds on the safety quantities of interest (i.e. Core Damage Frequency, CDF) that reflect the (limited) state of knowledge of the experts about the system of interest.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.37
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• pp.187-216
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• 2008

Risk regarding the possibility of loss can be especially problematic. If a loss is certain to occur, it may be planned for in advance and treated as a definite, known expense. It is when there is uncertainty about the occurrence of a loss that risk becomes an important problem. The word risk is often used in connection with insurance. No one generally accepted definition of risk exists, however. Of the many definitions, two distinctive ones are commonly used. One defines risk as the variation in possible outcomes of an event based on chance. That is, the greater the number of different outcomes that may occur, the greater the risk. Another way of expressing this concept is to state: The greater the variation around an average expected loss, the greater the risk. The second definition of risk is the uncertainty concerning a possible loss. The definition of risk as a useful one because it focuses attention on the degree of risk in given situations. The degree of risk is a measure of the accuracy with which the outcome of an event based on chance can be predicted. For now, it will serve our purpose to note the more accurate the prediction of the outcome of an event based on chance, the lower the degree of risk. After sources of risks are identified and measured, a decision can be made as to how the risk should be handled. A pure risk that is not identified does not disappear, the business merely loses the opportunity to consciously decide on the best technique for dealing with that risk. The process used to systematically manage risk exposures is known as risk management. Some persons use the term risk management only in connection with businesses, and often the term refers only to the management of pure risks. In this sense, the traditional risk management goal has been to minimize the cost of pure risk to the company. But as firms broaden the ways that they view and manage many different types of risk, the need for new terminology has become apparent. The terms integrated risk management and enterprise risk management reflect the intent to manage all forms of risk, regardless of type. International trade transaction is called between countries has features of globalism, cultural gap, long distance and long terms for the transaction. It is riskier than domestic transaction has its specific risks, such as foreign exchange risk and political risk, and requires various active risk management skills. Risks in relation to the international trade transaction are the contract risk, transit risk and payment risk, etc. The risk management in relation to the international trade transaction is to identify and measure these risks. The purpose of this study is to analyse the practical problems and its solution plan by analyzing various cases related to the risk management of bill of lading in the international trade transaction.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.2 no.2
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• pp.115-124
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• 1979

The purpose of this study is theoretical research on risk. The research is focused on systematic risk. Chapter I is objective of this study, Chapter II includes definition and measurement of risk. Chapter III introduces attitudes toward risk and classification of risk. Chapter IV discusses Portfolio theory, Capital market line and Shape and Lintner model The objective of firm is assumed to maximize its value. In a world of uncertainty, value is not determined by earnings alone, the degree of risk involved with the streams of earnings. Financial manager has to consider the risk in order to maximize the value of firm. Total risk can be classifier into two parts : Systematicrisk and unststematic risk by Sharpe. Systematic risk is important because investors can't diversify it. Blume and Jensen measured f and they testified that the f is stationary over the time For further study, Korean stock mark has to take emperical study about $\beta$ and its stationarity.

• Journal of Science and Technology Studies
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• v.10 no.2
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• pp.143-174
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• 2010

How can a regulatory policy to address potential hazards be made legitimate in the face of scientific uncertainty? The precautionary principle has been gradually regarded as the most persuasive answer to this intricate question in Europe since the 1970s and generally recognized as a guiding principle in international environmental law. This principle, however, has often been subject to diverse concerns and criticisms due to its vague definition. This article tries to elaborate the precautionary principle while reviewing both the validity and unreasonableness of these criticisms over this principle. Then, this article explores the policy relevance of this principle by applying this elaborated definition to the concrete case of risk governance such as the risk assesment of food safety. In the end, this paper emphasizes the fact that the precautionary principle can be applied in the field of risk governance, refuting the argument that the precautionary principle is only a moral attitude or a political position.

• The Journal of Korean Academic Society of Nursing Education
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• v.28 no.3
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• pp.328-339
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• 2022

Purpose: This study was conducted to identify the mental health status of Korean adults during the COVID-19 pandemic and to verify the predictors and mediating effects of avoidance coping on the relationship between the intolerance of uncertainty and anxiety and the intolerance of uncertainty and depression. Methods: An online survey was completed by 191 Korean adults from 19 to 64 years old. Using the IBM SPSS Win 19.0 program, the data were analyzed through the frequency, mean, t-test or analysis of variance, Pearson's correlation coefficient, linear regression analysis and Sobel test. Results: Of the survey respondents 21.5%, and 33.5% respectively were classified into anxiety and depression risk groups. The predictors of anxiety were intolerance of uncertainty (β=.52), avoidance coping (β=.21), and response efficacy (β=-.15). Those variables explained 47.7% of the respondents' anxiety. The predictors of depression were intolerance of uncertainty (β=.40), avoidance coping (β=.20), and response-efficacy (β=-.12). These variables explained 34.9% of the participants' depression. Among the predictors of anxiety and depression, avoidance coping was the significant mediating variable. Conclusion: The predictors of anxiety and depression during the COVID-19 pandemic were revealed to be intolerance of uncertainty, avoidance coping, and response-efficacy. These results indicate the necessity of providing the cognitive interventions and reducing the use of avoidance coping strategies on a personal level. Community-level efforts, including early detection and health communication strategies, should prioritize risk groups for example young adults. The study suggests it will be necessary to provide sufficient information, psychological support and economic policy alternatives related to the COVID-19 pandemic on the national level.

• Journal of Construction Engineering and Project Management
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• v.3 no.2
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• pp.49-57
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• 2013

A sea dike construction has been increased in Korea because of the actively deployed reclamation project in basis of efficient application in land. The degree of completion in sea dike construction is affected by final closing construction, which has a lot of uncertainty that often results in higher accidents rate. Therefore, this research identified risk factors of final closing construction and classified them. This research examines the likelihood and its impact for each risk factor and calculates the risk degree as to the risk matrix. Based on this, the impact and the environmental conditions that affect to risk factors are investigated and further responsive methods are established for each risk factor. Ultimately, this research attempts to provide the risk retrenchment method for inspectors by proposing risk estimation model, responsive action list, and risk management process.

• Journal of Environmental Impact Assessment
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• v.5 no.1
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• pp.47-60
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• 1996

Nitrate contamination problems from groundwater supplies have been reported throughout many countries in the world, including Korea. Nitrate salts can induce methemoglobinemia and possibly human gastric cancer. To reduce human health risk from nitrate in groundwater supplies, several nitrate risk-management strategies can be developed based on the acceptable level of human health risk, the reasonableness of nitrate-control cost, and the technical feasibility of nitrate-control methods. However, due to a lack of available information, assessing risk, cost and technical feasibility contains elements of uncertainty. In the present paper, a nitrate risk-management methodology using fuzzy sets in combination with a multiobjective decision-making (MODM) technique is developed to assist decision makers in evaluating, with uncertain information, various nitrate risk-management strategies in order to decide a proper strategy.

• Journal of Technology Innovation
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• v.15 no.1
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• pp.175-201
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• 2007

Licensing contracts between partners in International Joint Ventures(IJV) have not only aspects of relation contract, which is interdependent and long-term cooperative relationships in interpartner but also aspects of discrete contract which is exposed to opportunistic risk caused by IJV partners who maximize individual profit instead of joint payoff maximization. In this circumstance, appropriate compensation structures such as lump-sum and royalty can reduce conflicts and spur interpartner cooperation. In addition, compensation structures that stipulate each party's rights, duties, and responsibilities under various sets of environmental conditions have strong implications for transaction cost minimization and joint payoff maximization. On the other hands, compensation structures such as lump-sum and royalty in IJV licensing contract have benefits and costs depending on IJV partners uncertainty, partner dependency, and environment uncertainty. Therefore, the purpose of this paper is to empirically show how partner uncertainty, partner dependence and environment uncertainty influence compensation structure chosen by licensor in IJV.

• Journal of Positioning, Navigation, and Timing
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• v.12 no.1
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• pp.51-58
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• 2023

Geofencing supports unmanned aerial vehicle (UAV) operation by defining stay-in and stay-out regions. National Aeronautics and Space Administration (NASA) has developed a prototype of the geofencing function, SAFEGUARD, which prevents stayout region violation by utilizing position estimates. Thus, SAFEGUARD depends on navigation system performance, and the safety risk associated with the navigation system uncertainty should be considered. This study presents a methodology to compute the safety risk assessment-based along-track position error bound under nominal and Global Navigation Satellite Systems (GNSS) failure conditions. A Kalman filter system using pseudorange measurements as well as pseudorange rate measurements is considered for determining the position uncertainty induced by velocity uncertainty. The worst case pseudorange and pseudorange rate fault-based position error bound under the GNSS failure condition are derived by applying a Receiver Autonomous Integrity Monitor (RAIM). Position error bound simulations are also conducted for different GNSS fault hypotheses and constellation conditions with a GNSS/INS integrated navigation system. The results show that the proposed along-track position error bounds depend on satellite geometries caused by UAV attitude change and are reduced to about 40% of those of the single constellation case when using the dual constellation.