• Journal of Navigation and Port Research
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• v.46 no.4
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• pp.359-366
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• 2022

While the Forward Freight Agreement (FFA) has emerged as an effective hedging tool since early 1990, the basis risk and cash flow distortions have been addressed as obstacles to the active use of FFAs. This research analyses the basis risk of FFAs and provides a feasible suggestion to reduce it. Basis risk is divided into timing basis, route basis, size basis, and low liquidity basis. The timing basis is defined as the difference between the physical hire, fixed on the specific contract date and the FFA settlement price, calculated by averaging spot rates for a certain period. Timing basis is considered the worst in eroding the effectiveness of FFAs. This paper suggests a change of hire payment criterion from contract date to 15-day moving average, as a means of mitigating the basis risk, and analyzed the effectiveness through historical simulation. The result revealed that the change is effective in mitigating the timing basis. This study delivers a meaningful implication to shipping practice in that the change of hire payment criterion mitigates the basis risk and eventually activates the use of FFAs in the future.

• Journal of the Korean Society of Safety
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• v.22 no.4
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• pp.1-6
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• 2007

In this study, we provided an index for the quantitative and systematic performance based fire risk assessment. A complex cinema was adopted for the fire scenario and the fire simulation was carried out by using FDS. Also evacuation time was calculated by using SIMULEX. We obtained a big different fire risk assessment result by the focus on the between space basis and the time basis. As a result of this study, performance based fire risk assessment should be performed on the basis of individual evacuee's path line.

• International Commerce and Information Review
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• v.10 no.2
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• pp.283-304
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• 2008

According to globalization and localization of world economics international trade payment method was also changed. A traditional payment was Letter of Credit basis, however it is being increased to various methods such as remittance, documentary collection(D/P, D/A) and open account. In order to acquire a secure export payment, exporters prefer to L/C basis which is guaranteed by a reliable bank. However, the L/C should bear a security so that importers would rather documentary collection than L/C. The reasons for the preference of collection payment rather than L/C are a low commission cost, the conversion of buyer's market from seller's market due to severe competition in the world market, transaction increase between main office and branches and a right to control the goods until executing the payment by exporters. Besides of them, collection payment can handle safer and faster than open account basis. However, the collection payment has a risk which it isn't guaranteed by bank for the payment so that I would suggest countermeasures to minimize the payment risk utilizing the collection basis as follows; using export credit insurance system, a large domestic credit report provider such as D&B for absolutely fresh and new information, a collection proxy service for overseas deferred credit and suggestion specifying to order B/L not straight one on consignee in order to transfer the right of ownership with endorsement without problem.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2017.05a
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• pp.99-100
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• 2017

In today's builders PRM(Project Risk Management) for Risk Management to fill out the competitive advantage, by and return it safe and take. But PRM has different standards for each construction company and can also see that even the list. In this study, consideration existing research through PRM by developing a list of check list to proceed to the basic research to help. In this study, PRM by creating a basis of the check list disclosed to the frame of reference. The results of this study by PRM of the check list for field application management system to provide a basis to build.

• Proceedings of the Korean Society of Food Hygiene and Safety Conference
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• 2005.11a
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• pp.21-70
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• 2005

• Proceedings of the Korea Water Resources Association Conference
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• 2019.05a
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• pp.397-397
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• 2019

With the consequences of climate change becoming more evident, research on climate-associated risks has become a basis for climate adaptation and mitigation. Amongst the different sectors and natural resources considered in assessing such risks, drought is one impact to our environment that experiences stress from climate change but is often overlooked and has the potential to bring severe consequences when drought occurs. For example, when temperatures are higher, water demand increases and water supply decreases; when precipitation patterns fluctuate immensely, floods and droughts occur more frequently at greater magnitudes, putting stress on ecosystems. Hence, it is important for us to evaluate drought risk to observe how different climate change and socioeconomic scenarios can affect this vital life resource. In this study, we review the context of drought risk on the basis of climate change impacts and socioeconomic indicators. As underlined in the IPCC AR5 report, the risks are identified by understanding the vulnerability, exposure, and hazards of drought. This study analyzed drought risk on a global scale with different RCP scenarios projected until the year 2099 with a focus on the variables population, precipitation, water resources, and temperature.

• Asian Pacific Journal of Cancer Prevention
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• v.16 no.5
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• pp.1759-1764
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• 2015

Purpose: To establish the concept of lung cancer hazard assessment theoretical models, evaluating the degree of lung cancer risk of Beijing for regional population lung cancer hazard assessment to provide a basis for technical support. Materials and Methods: ISO standards were used to classify stratified analysis for the entire population, life cycle, processes and socioeconomic management. Associated risk factors were evaluated as lung cancer hazard risk assessment first class indicators. Study design: Using the above materials, indicators were given the weight coefficients, building lung cancer risk assessment theoretical models. Regional data for Beijing were entered into the theoretical model to calculate the parameters of each indicator and evaluate the degree of local lung cancer risk. Results: Adopting the concept of lung cancer hazard assessment and theoretical models for regional populations, we established a lung cancer hazard risk assessment system, including 2 first indicators, 8 secondary indicators and 18 third indicators. All indicators were given weight coefficients and used as information sources. Score of hazard for lung cancer was 84.4 in Beijing. Conclusions: Comprehensively and systematically building a lung cancer risk assessment theoretical model for regional populations in conceivable, evaluating the degree of lung cancer risk of Beijing, providing technical support and scientific basis for interventions for prevention.

• Korean Journal of Human Ecology
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• v.24 no.4
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• pp.513-529
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• 2015

This study performed corroborative analysis by establishing hypothesis so as to corroboratively define the effect on brand attitude of psychological risk recognition in the case where consumers reading negative media news related to bakery recognize crisis communication on the basis of which point. According to corroborative analysis, the role of psychological crisis perception as parameter is confirmed in the causal relation between crisis communication recognition and brand attitude. Such result of study confirms that the positive change in crisis communication recognition reduces psychological risk perception to bakery products and such psychological risk perception eventually become factor which affects brand attitude over products. Such result of study suggests that when reading negative media news on bakery, the influence on consumer's evaluation of news on the basis of certain point and the influence on the formation of causal relation between psychological risk perception and brand attitude has scientific ground. In the aspect, the main result of this study is to find the clue that when comparing precedent study between crisis communication recognition and brand attitude, psychological risk perception is realized with brand attitude as media by verifying the parameter role of psychological risk perception.

• Journal of the Korean Society of Systems Engineering
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• v.10 no.2
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• pp.59-69
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• 2014

In the bidding stage of turn-key based plant construction contracts, owners provide design and performance basis for contractors instead of giving design drawing. To win the bid for a plant construction, the contractors should be obliged to satisfy and ensure owners'requirements such as design and performance basis in a plant construction project, In other words, owners imposes technical risk of the design to the contractors by specifying responsibility for the analysis and verification of the plant construction. Thus, it is very important that contracters make accurate and realistic basic design plan in a short period of time. To deal with such a situation, we propose a systems engineering approach for the analysis and management of the technical risk. Specifically, we first: 1) Analyzes technical risk related with the plant design information for the bidders, followed by 2) Developing stakeholder requirements for the basic engineering design, and 3) System requirements for dealing with technical risk. Also, in this paper, we proposed converting method from MOE(Measure of Effectiveness) to MOP(Measure of Performance) in the risk analysis. To show the effectiveness of the proposed method, we carried out a case study.

• Journal of the Korean Society of Hazard Mitigation
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• v.5 no.4 s.19
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• pp.9-15
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• 2005

This research developed the RMIS(Risk Management Information System) which focus on works of risk management fields required of apply of a space information, and focus on the DB to establish and apply the space information efficiently with research scope on the LPG refueling station in city. On the basis of the RMIS, this research provides the baseline to lead on an efficiency of safety inspection of LPG refueling station, advance risk assessment, and efficient making decision of an accident correspondence assessment with interlocking the GIS representing risk through the automation of a quantitative risk assessment standardize requirement to control at real-time. The RMIS development process is as follows. firstly, Relational Database(RDB) was developed by using fundamental data both On-site and Off-site relating data as peforming risk assessment on the LPG refueling station in city. Second, the risk management integral database system was developed to monitor and control the risk efficiently for user with using the Visual Basic Program. Third, through interlocking the risk management integral database system and the GIS(Falcon-map) was suggested the decision making method. Represented results through out the RMIS program development are as follows. Firstly, the RMIS was established the mutual information to advance management the risk efficiently for user and inspector with using the risk management data. Second, as this study managed risk for on-site and off-site separately and considered effect for inside and outside of facility, constructed the basis on safety management which can respond to major accident. Third, it was composed the baseline to making decision that on the basis of user interface.