• Korea Trade Review
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• v.44 no.3
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• pp.155-170
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• 2019

This study examines the model of perceived risk, trust, and continuous transaction intentions presented in a study of the buying behavior in International Transaction. Although most of the trade transactions have been studied as a legal supplement, trade transactions are also purchasing behavior aimed at maintaining continuous transaction intentions between the parties. The study results confirmed that perceived risk could be separated into risk neutrality, risk - taking and risk aversion, and perceived risk had an effect on trust. In addition, the trust affected by perceived risk in the trade transaction model has a statistically significant effect on continuous transaction intentions. The study results confirm that the theoretical background used in previous studies of purchase behavior models is also effective in trade transaction.

• Korean Journal of Construction Engineering and Management
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• v.22 no.4
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• pp.20-28
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• 2021

The Domestic Construction Industry is in the process of changing from a one-sided production method centered on the contractor to a production method in which the order and the contractor can collaborate. Depending on the delivery method, the bid/success method, the contract method, and the degree of business involvement of the order may also vary. In this thesis, in order to introduce 'Construction Management at Risk' suitable for the domestic environment, domestic and foreign institutional analysis, bid process analysis, contract fulfillment and management analysis, post management analysis, and related laws and regulations for legalization In order to suggest a plan for the efficient operation of the system, a system and case analysis of domestic and international construction responsibility type construction project management was conducted. 'Construction Responsible Construction Project Management' defined in the Framework Act on the Construction Industry is divided into the main contract transfer contract, which is a service contract performing pre-con work, and the main contract, which is construction project management and construction contract. Therefore 'Construction Management at Risk' should be regarded as one of the ordering methods rather than a successful bid system, as in the case of overseas, and legalization as a bidding system equivalent to design/construction batch bid and technology proposal is necessary for introduction. In order to introduce 'Construction Management at Risk' suitable for the domestic environment, domestic and foreign institutional analysis, bidding process analysis, contract fulfillment and management analysis, and follow-up management analysis are conducted. A method for efficient operation was suggested so that it can be applied in the domestic market while maintaining the original merits of this system.

• 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.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.469-473
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• 2005

Contract design plays a key role in the life cycle of BOT project. All project management activities and operation processes are arranged in consistence with the document of BOT contract which the public sector ensures that the respective roles and responsibilities set out in the contract are fully understood and fulfilled to the contracted performance criteria. With limited theories to deal with some fundamental issues of BOT contract design, we try to collect data from case studies and formulate several practical principles. The conclusions presented in this paper are analyzed from two cases, one is based on an early case in the United Kingdom, and the other based on the Taiwan High Speed Railway case. The purpose of this paper is not about covering all legal issues about BOT contract design, but rather, our work provides common considerations applicable to the contract parties of a broad range of BOT contracts. The results in this paper shall propose some fundamental principles of the BOT contract design.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2004.05a
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• pp.113-117
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• 2004

We need the contingency cost in order to deal with the uncertainty to be accompanied inevitably at the construction and an every kind risk not to forecast in advance. And also the contingency colt needed for the change order and we need it for reduction of the delay and reduce the trouble between owner and constructor. This study, through checking and analyzing the risk factor, in the step of domestic construction, suggests optimal management reserve to specific business about the contract type and the scale. The main results of this research are summarized as follow. First, I investigated the recognition about the contingency cost, grasped the risk to be happened at the construction step and found out the frequency occurrence, through making up question to engineer are carrying out their job in the domestic construction. Second, I computed optimal contingency cost rate by the statistics investigation, and proposed an improvement plan and problem when compute a contingency cost.

• Journal of Korean Society of Occupational and Environmental Hygiene
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• v.31 no.4
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• pp.451-460
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• 2021

Objectives: The purpose of this study is to examine occupational risk factors that affect the mental health (depression, anxiety, anger, insomnia, self-esteem, trauma) of hospital facility workers. Methods: A survey was conducted from November 17, 2020 to December 1, 2020 for 700 non-medical workers (Temporary and contract workers: cleaning, security, information, office workers, etc.) working at a general hospital in Seoul. Results: As a result of the study, the risk of musculoskeletal disorders was found to have a significant effect on depression, anxiety, insomnia, and trauma. Noise had a significant effect on depression and anger, dust hazard had an effect on depression and self-esteem, and high temperature had a significant effect on anxiety and insomnia. Conclusions: Based on these results, it is necessary to examine the influence of occupational risk factors to improve the mental health of non-medical hospital facility workers.

• 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.

• Journal of Information Technology Applications and Management
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• v.26 no.6
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• pp.119-138
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• 2019

This work examines whether IT managers adopt of real options such as defer, expand, contract, and abandon in order to cope with ERP risks, which include technological risk, relationship risk with SW vendors, economic risk, and security risk. We collect data of logistics firms in Seoul and its suburbs in 2018 to empirically validate the effect of risks upon the adoption of real options. The results suggest that IT managers adopt all 4 options when facing economic risk and adopt contract and abandon options only when facing security risk. Additionally, we find that IT managers prefers expand option and avoid abandon option when they think ERP compatibility is high.

• Environmental and Resource Economics Review
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• v.15 no.2
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• pp.319-353
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• 2006

This paper shows how weather derivatives can be used to hedge against the price risk and volume risk of purchasing relatively large amounts of electricity. Our specific approach to designing new contracts for electricity is to focus on the return over a summer season rather than on the daily levels of demand and price. It is shown that correct market signals can be preserved in a contract and the associated financial risk can be offset by weather options. The advantage of combining a forward contract with a weather derivative is that the high prices on hot days or when the temperature is high reflect the underlying high cost of producing power when the load is high and that the combined contract with a weather derivative substantially reduces the volatility of the return.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.30
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• pp.59-88
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• 2006

After sources of risks are identical and measured, a decision can be made as to how the risk should be handled. A pure risk that is not identical 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. Risk management is the logical process used by business firms and individuals to deal with their exposures to loss. It is a strategy of preloss planning for postloss resources. Besides, in the enterprise judiciary researches the textbook and the instance which relate risks, and reflects it to the written contract provision and various every manuel or holds seminar. It is a risk management which this talks generally. Here it stands but it becomes a problem the quality of type and countermeasure of risks. The purpose of this paper aims to explain adequate preventions to positively predict the risk this before being materialized, in practical section which is directly exposed to these risks in introducing international sale contracts(for example, the FOB and CIF contract) and the active management method of the risk which accompanys to the execution. And also analyzes the Lite-On case which relates with an international sale contracts.