• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.338-341
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• 2006

After the revision of Private Investment Law in January 2005, BTL is introduced to expand the social infrastructures as a major business procedure. Especially, the size of the public educational infrastructure ordered by each city education office is increased by 45% compared to last year, so it is major in BTL Project. However, in the process of practicing BTL Project by now, there are a lot of problems specially in the public educational infrastructure. As a result, this study gives the solutions in the process of BTL Project, the CM models to support the Education Office${\square}{\square}$job and the suggestions for the working scope of the participating construction companies.

• International Journal of Fuzzy Logic and Intelligent Systems
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• v.16 no.1
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• pp.72-80
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• 2016

Re-auction happens when a bid winner defaults on the payment without making second in-line purchase declaration even after determining sales permission. This is a process of selling under the court's authority. Re-auctioning contract price of real estate is largely influenced by the real estate business, real estate value, and the number of bidders. This paper is designed to establish a statistical model that deals with the number of bidders participating especially in apartment re-auctioning. For these, diverse factors are taken into consideration, including ratio of minimum sales value from the point of selling to re-auctioning, number of bidders at the time of selling, investment value of the real estate, and so forth. As an attempt to consider ambiguous and vague factors, this paper presents a comparatively vague concept of real estate and bidders as trapezoid fuzzy number. Two different methods based on the least squares estimation are applied to fuzzy regression model in this paper. The first method is the estimating method applying substitution after obtaining the estimators of regression coefficients, and the other method is to estimate directly from the estimating procedure without substitution. These methods are provided in application for re-auction data, and appropriate performance measure is also provided to compare the accuracies.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.22 no.50
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• pp.23-32
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• 1999

Reliability and maintainability allocation in the analysis of the system's design, with the objective of planning and installing the individual components in such a way that the system performance is achieved. This paper has been made to solve an important task in reliability management of manufacturing systems within the general objective being to increase productivity while maintaining costs low. Thus, the purpose of this paper is to provide an analytical approach to determine an optimal reliability and maintainability allocation, trading off among system performance and parts investment costs. Two important considerations will be addressed in this regard : (ⅰ) determine the reliability and maintainability allocation of parts which maximizes a given production index, having fixed the total cost of investments ; and (ⅱ) determine the reliability and maintainability allocation which minimizes the total cost of investments, having fixed a minimum acceptable level of productivity. The procedure proposed in this paper is able to provide to managers and designers useful indications on the reliability and maintainability characteristics of parts in series -parallel systems. And this heuristic model is a decision support tool for contractors who are involved in large scale design projects such as ship and aircraft design. Numerical examples prove that an approximate expression of the average throughput rate is sufficiently accurate to be used in a numerical optimization method.

• Journal of Arbitration Studies
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• v.26 no.3
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• pp.67-91
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• 2016

In an era where the international investment and trade between Korea and China grow daily, the importance of international arbitration cannot be overstated. The Korean Arbitration Law was enacted with reference to the UNCITRAL Model Law. When the Chinese Arbitration Law was being enacted, the UNCITRAL Model Law was also referred to, but there are some discrepancies between the two. This article conducts comparative analysis based on the Korean and the Chinese Arbitration Laws, the Chinese Civil Procedure Law and the KCAB and the CIETAC arbitration rules. In order to adopt the UNCITRAL Model Law amended in 2006, Korea revised its Arbitration Law in 2016. The revised Law includes a more comprehensive legal regime regarding interim measures, emergency arbitrator, etc. In China, the enforcement of foreign-related arbitral awards and foreign arbitral awards is carried out mainly by intermediate people's courts. In China, the report system to the higher people's court for refusing the enforcement of foreign-related arbitral awards and for refusing the recognition or enforcement of foreign arbitral awards has the effect of safeguarding foreign-related arbitral awards and foreign arbitral awards in China. Both Korea and China joined the New York Convention, and domestic courts may refuse the recognition and enforcement of foreign arbitral awards according to the New York Convention.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.839-850
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• 2021

Risk-adjusted return is believed to be one of the optimal parameters to determine an optimum portfolio. A risk-adjusted return is a calculation of the profit or potential profit from an investment that takes into account the degree of risk that must be accepted to achieve it. This paper presents a new procedure in portfolio selection and utilizes these results to optimize the risk level of risk-adjusted Islamic stock portfolios. It deals with the weekly close price of active issuers listed on Jakarta Islamic Index Indonesia for a certain time interval. Overall, this paper highlights portfolio selection, which includes determining the number of stocks, grouping the issuers via technical analysis, and selecting the best risk-adjusted return of portfolios. The nominated portfolio is modeled using Quadratic Programming (QP). The result of this study shows that the portfolio built using the lowest Value at Risk (VaR) outperforms the market proxy on a risk-adjusted basis of M-squared and was chosen as the best portfolio that can be optimized using QP with a minimum risk of 2.86%. The portfolio with the lowest beta, on the other hand, will produce a minimum risk that is nearly 60% lower than the optimal risk-adjusted return portfolio. The results of QP are well verified by a heuristic optimizer of fmincon.

• Journal of the Korean Society of Industry Convergence
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• v.22 no.2
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• pp.71-79
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• 2019

Since the announcement of President Klaus Schwab's fourth industrial revolution at the World Economic Forum in Davos, Switzerland in January 2016, the fourth industrial revolution has emerged as a hot topic in our society. The United States, Japan, China, and Germany, which are major advanced nations, are preparing and implementing a strategy and system for responding to the Fourth Industrial Revolution, focusing on information and communication technology (ICT) and manufacturing convergence in response to the fourth industrial revolution era. Korea is announcing the expansion of financial support for R & D investment budget and related industries for major technology related to revolution. In this paper, we analyze the defense R & D project procedure of the Defense Improvement Project, which is responsible for the development of the defense weapon system, and present the development direction of the defense weapon system in accordance with the 4th world industrial revolution trend.

• Journal of Korean Society of Forest Science
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• v.90 no.2
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• pp.176-183
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• 2001

Loblolly pine (Pinus taeda L.) is the most economically important timber producing species in the southern United States. Much attention has been given to predicting diameter distributions for the solution of multiple-product yield estimates. The three-parameter Weibull diameter distribution yield prediction systems were developed for loblolly pine plantations. A parameter recovery procedure for the Weibull distribution function based on four percentile equations was applied to develop diameter distribution yield prediction models. Four percentiles (0th, 25th, 50th, 95th) of the cumulative diameter distribution were predicted as a function of quadratic mean diameter. Individual tree height prediction equations were developed for the calculation of yields by diameter class. By using individual tree content prediction equations, expected yield by diameter class can be computed. To reduce rounding-off errors, the Weibull cumulative upper bound limit difference procedure applied in this study shows slightly better results compared with upper and lower bound procedure applied in the past studies. To evaluate this system, the predicted diameter distributions were tested against the observed diameter distributions using the Kolmogorov-Smirnov two sample test at the ${\alpha}$=0.05 level to check if any significant differences existed. Statistically, no significant differences were detected based on the data from 516 evaluation data sets. This diameter distribution yield prediction system will be useful in loblolly pine stand structure modeling, in updating forest inventories, and in evaluating investment opportunities.

• Journal of Arbitration Studies
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• v.15 no.1
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• pp.3-26
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• 2005

Since the Agreement on Commercial Arbitration was signed by the Governments of South and North Korea last year, there has been quite a few discussions on the way for implementing the Agreement in both public and private sectors. The Department of Justice of South Korea was quite active in making the draft of arbitration rules representing the South Korean views in alliance with the Department of Reunification of South Korea and recently held an informal seminar to preview their draft. On the other hand, the Korea Arbitration Association, a main body of commercial arbitration which are composed of professors and lawyers, were carefully watching the steps and the draft made by the Department of Justice. The reasons are to assure that not only shall the commercial arbitration rules comply with comment norms of international arbitration but shall it be made to meet the needs of enterprises investing in the Special Economic District of Kaesung City in North Korea. The concerns of the Korea Arbitration Association can be accomplished if the Department of Justice would modify the provisions pointed out in the seminars. Five general principles shall be brought into the attention in promulgating the commercial arbitration rules. First, it should comply with the Agreement on Commercial Arbitration signed by South and North Korea. Second, it should accept common rules contained in UNCITRAL arbitration rules. Third, it should boost the promptness of proceedings when a case was filed. Fourth, it should feature unique aspects of trade between South Korea and Korea by differentiating it from purely international trade between a country and a country. Lastly, it should combine the respective rules of both South and North Korea, currently in effect. With the above five principles accomplished, it should be noted that the Agreement on Commercial Arbitration the upper authority of arbitration rules, mandates the following features. It declared that arbitration be processed by three arbitrators. Single arbitrator is not permitted. Arbitration can be adopted even if an arbitration clause does not exist in an agreement by the parties, provided that the dispute arose out of the scope of the Agreement on investment Guarantee signed by South Korea and North Korea. It excluded quick and simplified procedures even if the amount of claim in arbitration is minimal. All the procedures should take a formal procedure. It let the double administration offices operate. One is to sit in Seoul of South Korea and the other is to sit in Pyongyang of North Korea. This would intimidate the fastness of procedures. With the above principles and the features considered, each provision in the draft by the Department of Justice should be reviewed and suggested for change.

• Journal of Digital Contents Society
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• v.9 no.4
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• pp.661-667
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• 2008

The dynamics of business cycles has been changed by the macroscopic economic forces because of the introduction of new technical know-how each year. These the dynamics of business has a significant influence on the investment of enterprise in the information communication field. Today, the most important goal of the IT investment is simply not to lower the production cost any more, but to improve the usefulness for the customers and partners in order to obtain the optimized mass products. Therefore, the enterprises have been concentrating their all abilities on the automation, integration, and optimization of business process using BPM. In addition, they are concentrating their efforts on the business expansion by approaching the technical aspect using RFID application system. However, in order to accomplish a successful enterprise ability, the technical view, business process view, and organization view must be considered together. We suggested the method considering organization view, via the technical element, i.e., RFID system for approaching the business process. Furthermore, we tried the optimization of assignment using Context Analysis methodology and proposed the method to reduce the element with respect to the time, human, and expense by applying the Case Study method that minimizes the iteration times through the transmitted processing procedure and type. The proposed method gave us the expectation that it will bring out the innovative improvement with respect to the time, expense, quality, and customer's satisfaction in the process from the analysis of business process to the analysis and design of system.

• The Journal of Korean Academy of Prosthodontics
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• v.52 no.1
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• pp.18-26
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• 2014

Purpose: The purpose of this study was to estimate the cost of dental implant using the bottom-up approach with the current data from dental clinics. Materials and methods: In this study, direct and indirect costs required for each treatment were calculated using the bottom-up approach. In the bottom-up costing, the average monthly total cost of dental clinic includes labor and material costs, administrative expenses, medical malpractice costs, and opportunity costs of invested capital. For the dental implant cost components, those include direct costs (labor costs, laboratory costs, material costs, depreciation or other operating costs), indirect costs (administrative costs), and the opportunity costs of investment for dental clinic. Results: Dental implant costs of metal crown, porcelain crown and over-denture were 1,449,000 won, 1,583,000 won, and 2,471,000 won respectively. The proportion of cost components was as follows. The labor cost were 50%, and material, administrative and other cost were 33%, 15% and 2%, respectively. For direct, indirect and investment cost, the ratio were 83%, 15% and 2%, respectively. Conclusion: The labor costs were evaluated to comprise largest proportion (about 50%, 730,000 won). Dental implant cost using Bottom-up costing was 1,450,000 won for metal crown and 1,580,000 won for porcelain crown.