• Journal of the Korean Data and Information Science Society
• /
• v.24 no.3
• /
• pp.603-623
• /
• 2013

This paper proposes analyzing monthly rainfall patterns using copula and pricing related rainfall insurance using it. We analyze 30-year monthly precipitation data for 9 Korean cities between June and September using copula showing so that it can effectively generate realistic monthly rainfall patterns. In addition, we show that our copula rainfall models can be used in pricing various kinds of rainfall insurances effectively.

• Environmental and Resource Economics Review
• /
• v.29 no.3
• /
• pp.335-362
• /
• 2020

Using the Hedonic pricing model using Box-Cox transformation, this paper estimated the marginal effect (implicit price) of odors from landfill in the metropolitan area on housing prices and the willingness to pay for changes in certain odor conditions. This paper utilized the proximity from the landfill in the metropolitan area as a environmental variable, and analyzed the effect of various housing characteristic variables on the sale price of apartments within a radius of 5 km from the landfill. In particular, because odors factor have various heterogeneity, we applied hedonic price models instead of stated-preference methods with various types of functional forms through Box-Cox transformation, considering the heterogeneity of each region. Estimates show that the marginal value (implicit price) for the distance from the odor source was 0.227 to 0.533 depending on the function type of the estimated model. In addition, when other house factors are the same, the marginal willingness to pay for a distance of 1km from the odor source was calculated to be 16.79 to 51.76 thousand dollar depending on the type of function. Finally for the general Box-Cox model, the annual WTP was estimated to be 3,229dollar.

• International Area Studies Review
• /
• v.13 no.2
• /
• pp.505-523
• /
• 2009

We study the cost of capital of Islamic enterprise using the Capital Asset Pricing Model(CAPM). When there exists no risk-free interest rate, the security market line(SML) of Islamic enterprise shows an upward slope starting from the origin. The slope is bigger than that of SML with risk-free interest rate. This is because the cost of capital of Islamic enterprise is higher than that of western firms for the same level of systematic risk. When the effect of zakat is considered, the risk-free interest rate is replaced by minimum required rate of return. The SML of Islamic enterprise reveals an upward slope but it does not pass through the origin. This is because Islamic enterprise cannot invest on risk-free asset. In order to overcome the theoretic limits of CAPM, we propose to use multi-factor approach such as arbitrage pricing model instead of single-factor model for future study.

• Proceedings of the KIEE Conference
• /
• 2000.07a
• /
• pp.13-15
• /
• 2000

This paper suggests the optimal dispatch method by MLF, that gives the appropriate price signal considering power flow and system losses under zonal pricing market. This price signal with MLF effects to dispatch merit order and customer price in the short term, and to connection point of new plant in the long term. In the case study, optimal MLF dispatch method applied to simplified Korean power system. The result shows reduction of loss and northward flow.

• Proceedings of the KIEE Conference
• /
• 2000.11a
• /
• pp.6-9
• /
• 2000

This paper presents the detailed derivation of optimal nodal price for active power to regionally evaluate system loss and congestion cost. The method is to decompose them into different components corresponding to system loss, transmission congestion, voltage constraint, and so on. The decomposed information for nodal price can be used to provide economic signals for generation or transmission investment as well as to improve the efficient usage of power grid and congestion management. The result of case study on IEEE 30 bus system is reported to illustrate the proposed method.

• Journal of the Korea Institute of Information and Communication Engineering
• /
• v.4 no.5
• /
• pp.1105-1110
• /
• 2000

In the past high cost and complex system configuration often discouraged hospitals from building teleradiology system or PACS(Picture Archiving and Communication System). But new standard platforms enable us to construct the same system with very low cost and simple configurations. internet as a communication channel made us overcome the regional limit and communication cost, and WWW technologies simplified the complex problems on the software developments, configurations and installations. So whoever has a Web browser to access internet can review medical images at anywhere. And we adopted DICOM technology which is a standard for medical imaging, thus we could resolve the interface problems among medical imaging systems such as modalities or archives. The implementation is comprised of three part DICOM/WWW interface subsystem, image format conversion subsystem and viewing applets which are displayed on users WWW browsers. In addition, Teleradiology intrenet PACS system includes DICOM converter that non-DICOM file format converts standard file format.

• Journal of the Economic Geographical Society of Korea
• /
• v.16 no.1
• /
• pp.71-85
• /
• 2013

This paper examines the impact of urban space structure on real estate markets, especially on commercial real estate markets. Based on a large scale of GIS dataset, volumes of each land use type are examined. This vast dataset enables 3-dimensional analysis of land use in the entire Seoul area, overcoming the limits of previous research relying on simple 2-dimensional analysis. After then, the Herfindahl index is used to calculate the level of mixed-uses. It analyzes whether a building price is influenced by circumjacent commercial buildings and its residential development pattern. The regression outcomes verify that a nearby area's development patterns make an impact on an office building price. It shows the possibility that a new-urbanism's argument can be actualized.

• Journal of the Korean association of regional geographers
• /
• v.15 no.1
• /
• pp.138-160
• /
• 2009

The urban housing market in Korea, especially in Seoul and the Capital region, has been revitalized with massive urban (re)developments and expanding real estate finance after the IMF crisis. This brought about a boom of housing price during the mid-2000s, which has been virtually stabilized by strong regulation policies of the previous government. But with impacts of the recent international financial crisis together with some inherent problems, the housing market of Korea faces with a worry of collapse in relation with the financial market volatility and the serious depression of real economy, and hence the current government attempts to implement strong deregulation policies on the housing market. In this paper it is argued that this kind of volatility of urban housing market seems to be caused by strategies of capital which involve continuous massive urban (re)development, residential segregation and appropriation of monopoly rent(or capital gain), and fictitious capitalization of real estates and integration of real estate market and financial market. In these reasons, the current tendency of urban housing price shows a slow downward, which seems to give the current neoliberal government a rationale for deregulation policies to prevent the downward tendency. But this paper suggests that such a slow downward of housing price shift would have positive effects on the housing market in particular and social and economic situations in general, and hence an alternative housing policy is required to realize such positive effects.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
• /
• v.22 no.6
• /
• pp.134-140
• /
• 2008

A switch in congestion management nile in an electricity market may have positive or negative impact on the surplus of a market participant. As a number of wholesale electricity markets around the world either have already adopted or plan to implement Locational Marginal Pricing (LMP) for energy and congestion management, it is necessary to study the economic impact of a change in congestion management in the Korean electricity market. However, the impact of congestion management on consumer costs and generator surplus has not been studied for the electricity market in Korea. This paper examines how a change in congestion management affects consumer costs and generator surplus in the Korean electricity market.

• Journal of agriculture & life science
• /
• v.44 no.2
• /
• pp.75-84
• /
• 2010

The growth of food industry has not increased the demand for domestically produced agricultural products as raw materials. This is because the prices of domestic agricultural products are expensive relative to the imported ones and domestic products are hard to be supplied consistently. Thus the connection between domestic agriculture and food industry must begin with the investigation of appropriate items that have potentials to be used as raw materials for food industry. There have been many policies that support regional agriculture such as the policy that fosters regional cluster for agriculture. These policies can contribute to instigate the connection between agriculture and food industry. The infra prepared by the supporting policies and the facilities that food companies are operating can be used together for both agriculture and food industry. The complementary utilizations of the infra and facilities may encourage the connection between agriculture and food industry.