• Korea Journal of Hospital Management
• /
• v.14 no.2
• /
• pp.1-20
• /
• 2009

The purpose of this study is to find the determinant variables to make profitability in regional public hospitals. The data come from financial statements and annual reports of 34 regional public hospitals for five years (from year 2003 to year 2007). The T or F-test and hierarchical multiple regression analysis are used. The dependant variables are the profitability indicators, ordinary income to total asset and operating margin to gross revenue, and the independent variables are general characteristics, diagnosis and treatment patterns, financial and public benefits. The findings of this study are summarized as follows. First, Variables affecting the profitability indexes revealed from DEA results is the bed occupancy rate, number of hospitalized patients to outpatients, ratio of first medical examination for outpatients, number of daily patients per medical specialist, labor cost per patient and managerial expenses per patient. Second, the ordinary income to total asset representing the asset usage performance is affected by the average hospitalized days, bed occupancy rate, labor cost per patient and ratio of patients with medical insurance coverage. Third, the operating martin to gross revenue obtained from the actual operations of hospitals has its significance with the bed occupancy rate, number of hospitalized patients to outpatients, managerial expenses per patient and public benefit indicator. This study has some restriction not to use pannel data analysis, although it used data for five years. Accordingly, various additional studies should be done to supplement such problems.

• The Journal of Fisheries Business Administration
• /
• v.29 no.1
• /
• pp.121-137
• /
• 1998

This study was conducted to examine the economic evaluation of the newly developed fish meal analog (BAIFA-M) in Korean rockfish feed. A raw fish feed (MP) and two commercially formulated diets (EP) were employed to compare weight gain (WG), feed conversion ratio (FCR) and survival rate (SR) from the sea cage culture system. By using the economic model in the practical sea cage culture system, feed cost, production cost and gross profit per kg production, rate of profit to gross revenue (RPGR), and internal rate of return (IRR) were calculated based upon the results of the experiment and the information of the private aquaculture farm (Young Chang) in Tong young, Korean. IRR criteria is one of the popular economic feasibility analysis methods applicable far aquaculture industry. This is an economic evaluation method to compare the given interest rate or the discount rate with IRR which can be calculated by the difference between the present value of the benefit stream and of the cost stream. The benefits of using EP on WG, FCR, SR, and production cost will be emphasized in this study. Fish averaging 20$\pm$3.6g (Mean$\pm$SD) were randomly distributed in each small cage (6m$\times$6m) as groups of 2,000 fish. By using 3 large size cages (12m$\times$12m), 12 small cages were constructed, and only 9 small cages were employed for three replicates of each diet treatment. To compare with MP diet, two sinking EP diets were designed by our laboratory and produced by the local feed company who wanted to promote these EP diets for the mass cage culture of Korean rockfish in the future. Two EP diets contain white fish meal and/or BAIFA-M as the main animal protein sources : WFM diet, maximum 43% of white fish meal : BAIEA- M diet, 30% of white fish meal nab replaced by BAIFA- M from WFM diet. Results are summarized in Table 1. Fish fed MP diet showed significantly lower SR than does fish fed two EP diets(P<0.05). However, there Were no significant difference on FCR among fish fed three practical diets. Table 1. Average feed conversion ratio (FCR), accumulative average survival rate (SR) and economic evaluation data far three practical diets. As we expected, BAIFA-M diet is more economical than WFM diet as well as MP diet. Feed cost and production cost per kg production from BAIEA - M diet were lower than those from WFM and MP diets. Moreover, gross profit per Kg production, RPGR and IRR from BAIFA- M diet were higher than those from WFM and MP diets. This economic evaluation study clearly indicated that MP diet should be replaced by the commerical formulated EP diets as soon as possible in the near future because MP diet is not economical in the practical sea cage culture system.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
• /
• 2014.06a
• /
• pp.73-75
• /
• 2014

Marine transportation facility is public goods for the general public and their safety. The study used the Contingent Valuation Method (CVM), a method to estimate economic value of non-market goods, such as environmental goods. In order to analyze economic effects of marine accidents preventable by the VTS, the study estimated costs caused by marine accident cases. It conducted surveys with people and shipping companies in local areas where VTS is to be established in the future. According to a survey with people in areas where marine transportation control center is to be built (Tongyoung), the yearly benefit from building new VTS is estimated at KRW 11billion. If fees are paid in the form of income tax for five years from 2014, corresponding benefits during the same period will reach KRW 47.3 billion in current value. An analysis on economic validity of VTS establishment in Tongyong showed the B/C ration stood at 3.193, far higher than 1. The Net Present Value (NPV) was KRW 32.5 billion and the Internal Rate of Return (IRR) turned out to be 37.4% which was higher than social discount rates of 53.5%. On balance, the establishment has reasonable economic validity.

• The Journal of The Korea Institute of Intelligent Transport Systems
• /
• v.15 no.4
• /
• pp.129-142
• /
• 2016

This study performs an evaluation, using the economic feasibility analysis method, of the LTE based railway wireless networks (LTE-R) service that is planned to be used for the future railway networks in Korea. Its objectives are using the evaluation results and working to reflect the factors that lead to a maximization of benefits in designing an integrated railway wireless network. This study analyzes the impact of implementing an LTE-R on the railway networks, in contrast to the existing wireless network methods, e.g. VHR and TRS to new rail lines on an economic view. This results found that the benefit cost ratio is greater than 1.0 with a 10% contribution to benefits of the wireless network service in the case study on the Wonju-Gangneung rail line that will start operations in 2018; as a result, an ICT design is desired. For the introduction of an LTE-R service for the Wonju-Gangneung rail line, design specifications need to increase to benefits for each service, which will verify actual contributions and therefore result in an overall economic effect.

• Journal of Korean Society of Environmental Engineers
• /
• v.38 no.12
• /
• pp.676-682
• /
• 2016

In this study, rainwater-greywater hybrid system was installed and operated for 1 year in order to evaluate its water quantity, water quality, and economic efficiency in building no. 39. This system was expected to overcome each disadvantages of and maximize each advantages. Low-greywater that was washed up from shower room was treated by MBR (Membrane Bioreactor) and ozone oxidation. Rainwater that was collected from the rooftop was stored in a reservoir, and then transferred to the storage tank that was mixed with treated greywater. After 1 year operating in building no. 39, rainwater and greywater was used to supply $2,599m^3$ of toilet flushing water. In terms of water quality, rainwater was satisfied far the greywater reuse standards except for E.coli. Moreover, low greywater quality was acceptable except for E. coli, BOD, SS, and turbidity. In addition, economic analysis was obtained from benefit-cost ratio (B/C) with 1.11. It implies that the feasibility of the project was reasonable. Furthermore, various research and policy to improve the economic efficiency of water recycling facilities is required to expand the use of water recycling facilities.

• International Journal of Highway Engineering
• /
• v.14 no.3
• /
• pp.131-140
• /
• 2012

Lane markings such as edgelines, centerlines, and lines that delineate lanes generally provide drivers with the various information for safe driving. Drivers can easily recognize the lane markings through the color differences between the markings and road surfaces during the daytime. However, it is a bit difficult for drivers to perceive them during the nighttime due to the lack of artificial lights. Although the glass beads with the 1.5-refractive index have been used to improve the visibility of the lane markings during the nighttime, it is still difficult for drivers to recognize the lane markings properly, especially during the rainy nighttime, which may often lead to traffic accidents. To improve the retroreflectivity and visibility of the lane markings during the rainy nighttime, the high refractive beads with the 2.4-refractive index are essentially required, but they do not work appropriately during the dry nighttime. Thus, the mixed materials with the 1.5, 1.9, and 2.4-refractive beads should be considered for the satisfactory implementation of the lane markings. This study reveals the best mixing rates of the beads by conducting benefit-cost analysis under various weather conditions in Korea. The analysis results show that the lane markings with the 100% of the 2.4-refractive beads provide the highest visibility of lane markings regardless of the roadway conditions, but the benefit-cost (B/C) ratio of the bead mixture is merely 0.46. The best mixing rate of the beads, from the highest B/C ratio viewpoint, was identified as the mixture with a 80% of 1.5-refractive beads and a 20% of 2.4-refractive beads. Some limitations and future research agenda have also been discussed.

• Korean Journal of Agricultural Science
• /
• v.31 no.1
• /
• pp.53-75
• /
• 2004

This study is aimed at identifying the national economic value of the irrigation facilities by reviewing the existing papers on economic values of the irrigation facilities and presenting current status of dual O & M problems of the irrigation facilities. This study suggested the unified O & M system rather than continuing the existing dual O & M system of irrigation facilities based on the surveyed results of the activities of irrigation fraternities in Chungnam Province. The findings and proposals for the successful unified and mono O & M system of the irrigation facilities are as follows: (1) Total number of irrigation facilities in the nation accounts for 67,582, while the total length of irrigation and drainage canals amounted to about 174,259km. On account of the total length of structural canals was estimated at 31%, much losses of water and much O & M costs have been inevitable for the full irrigation rice culture. In spite of the past heavy investment for irrigation facilities, the ratio of rain-fed and partially irrigated paddy fields accounts for 23% in 2003. Both Korea Agricultural and Rural Infrastructure Corporation (KARICO) and the city and Gun Governments have managed the irrigation facilities separately by irrigation fraternities. The KARICO have commanded 59% of irrigation paddy area with 18% of the total irrigation facilities, while the city and Gun governments covered 41% of irrigation paddy area with 82% of the existing number of irrigation facilities representing small and medium scale. (2) The 1999 demand prices of irrigation water per ton expressed in 2000 constant market price was estimated at 388 won, the supply price was amounted to 184 won per ton. Considering the supply and demand curve of the irrigation water, the existing irrigation facilities could not satisfy the demand of irrigation water. (3) In 1999, total present added value of the irrigation facilities during the economic life accounted for 48 trillion won, while total supply cost was 44.7 trillion won. The marginal benefit and cost ratio of irrigation water was 1.08. (4) The total O & M cost per year amounting to 681.1 billion won have been required to maintain and repair the existing irrigation facilities in Korea. For the successful unified O & M of irrigation facilities covering whole irrigated paddy field in Korea, 950 billion won of O & M costs are required to keep up the marginal benefit of irrigation water as 2,800 billion won per year. The total O & M cost as 950 billion won should be allocated 40%, 380 billion won for O & M costs of irrigation facilities and 60%, 570 billion won for improvement of irrigation facilities. (5) The study investigated and reviewed the present O & M status of the irrigation facilities by small and medium irrigation fraternities. Most of the farmers belong to the irrigation fraternities preferred not only unified O & M but also KARICO take-over of the whole O & M activities of the irrigation facilities. The prevailing O & M cost per 10a expended by the Corporation was amounted to 104,890 won, while that of city and Gun governments was only amounted to 4,600 won per 10a. regarding the small amount of O & M cost expended by city and Gun governments, it is evident that the existing irrigation system have been managed ineffectively and deteriorated the facilities comparing that of KARICO. In conclusion, the Government could not satisfied the demand of irrigation water by suppling water with existing irrigation facilities. Therefore new additional investment and financial support for irrigation water development should be made to convert rain-fed and partially irrigated paddy fields into fully irrigated ones. The operation and maintenance cost should be supported to keep the marginal values of rice production of existing irrigation facilities in the national economy and to modernize the obsolete irrigation facilities. By unifying the existing dual O & M systems, all the farmers belong to the irrigated paddy fields have to be equally benefited and could be increased their farm income and be stabilized their rural lives.

• Korean Journal of Construction Engineering and Management
• /
• v.7 no.6
• /
• pp.79-89
• /
• 2006

Current removing process is labor intensive and time consuming, employing a conventional grinding type manual machine. From a social and economic point of views, these kinds of manual tasks bring about social inconvenience and economic loss including traffic jam and high labor costs. The objective of the study was to develop and evaluate a road stripe removal equipment using water jet technology. The following shows the results. First, It was analyzed that the obtainable productivity from the equipment developed in the study is 280% compared to the current equipment. In this study, it was also calculated the Benefit/Cost Ratio and the result showed that the ratio is 3.28, so it is expected that the equipment can produce great benefits for the relevant companies. Second, an analysis was also conducted on the traffic congestion cost, and the equipment could save about \2,550 million per day compared to the conventional equipment. Therefore, it is analyzed that the economic viability of the equipment is sufficient.

• Journal of the Korean Society for Library and Information Science
• /
• v.44 no.4
• /
• pp.231-247
• /
• 2010

This research examines a number of theoretical and practical issues when measuring the economic value of library services. In particular, using two recent studies conducted in Korea as illustrations, the study shows how various measurement decisions affect the final outcomes in the economic valuation of library services and thus points to the need for a more reliable study design. Specific areas of measurement discussed include the following: scope of measurement, application of CVM(Contingent Valuation Method), time vs. monetary value measurement, dealing with outliers, allowing alternatives, and the use of estimation. ROI(Return on Investment) scores or benefit cost ratios vary significantly according to different measurement choices even in the same study. There is a need for collecting qualitative data that complements the quantitative data typically collected in economic valuation studies. The outcome of economic valuation of library services should be considered as one of many representations of library values. Practitioners and researchers should exercise caution in interpreting those results but be able to leverage them to better communicate the value of library services.

• Journal of Energy Engineering
• /
• v.22 no.4
• /
• pp.386-393
• /
• 2013

An feasibility analysis is performed for the tidal current power generation with the examination of the sea water speed distribution at Pungdo. In this analysis, the water speed distribution which is the key issue was obtained from the actual speed distribution data and results in "the annual current tidal power". Due to the lack of cost information, we applied EPRI data from the internet site instead of the actual information. The result could be used as a base data for the construction of current tidal power plant in the near future. And it is expected to provides good data for the Energy policy.