• Transactions of the Korean Society of Mechanical Engineers B
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• v.35 no.12
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• pp.1293-1300
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• 2011

The configurations of the evaporator and condenser of a water chiller can be determined from the trade-off between the heat transfer area, which is related to the capital cost and the pressure drop, which is associated with the operational cost. In this study, the design of the water chiller focused on minimizing the water pressure drop of both condenser and evaporator for given cooling capacity and requirements. Commercial enhanced tubes were employed to simulate real-life conditions. The results of the present analysis were compared with those obtained by HTRI software for verifying them. The results indicated that a reduction in the water pressure drop, which is associated with the short length of a tube, can be effected by decreasing the number of tube passes and increasing the number of tubes and the tube diameter. However, using a large number of tubes with smaller diameters can reduce the capital cost because the tubes are short. The reduction of the capital cost is due to the fact that a small-diameter tube has low internal thermal resistance and hence contributes to a decrease in the overall thermal resistance per unit length.

• Journal of the Korea Institute of Building Construction
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• v.5 no.1 s.15
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• pp.97-103
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• 2005

Building costs means capital costs which include cost of land, costs of acquiring and preparing the site, construction costs, professional fees, furnishings, cost of financing the project. and cost of management required to run and maintenance the building for use. There are several phases that determine the building costs : design phase, construction phase, and operation & maintenance phase. So, the cost of work could be set against the examining the full range of complexities that a building program might contain. To solve this problem, it needs to compute building cost systematically. This is still in the development stage, awaiting the organization of rational cost data base. The method of cost saving by cost control could be constituted by detailed knowledge of building costs for all possible combinations of components and subsystems that can be assembled into integration model of cost factor on each phase of project development. The model of cost saving in each building phase is available for procedures of cost control of building systems.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.1 no.2
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• pp.157-192
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• 2006

Since the late 1990s, the Korean Venture Capital Industry has been remarkably grown in the aspect of quality and quantity. Korean government expects that the Venture company and Venture Capital Industry would contribute to the recovery of depressed Korean economy and restructuring of the high cost and low efficiency economic structure. Korean government reinforces supporting policies for the Venture Capital and Venture Business. Venture Capital is defined as the form of high risk and high profit investment capital growing the small & medium enterprises to competitive ones through capital and management support and collecting the capital. According to the Gompers and Lerners the venture capital cycle consists of raising investment capital, screening the investment opportunity and invest the money. And later, sold the retained stock to the other investor or to the company. This stage called EXIT Consequently, the function of the venture capital, which supply the fund and the business consultation to venture business, have been emphasized and how to effectively run this capital have been recognized as the way to develop the venture business. In this regard, the problem in Korean Venture Capital Market is as follows. First, most of the sources of fund depends on the government support and this conflict with the nature of risk capital because the government capital emphasis the stability than profitability. And secondly, the efficiency of the venture capital system in Korea do not reach that of the advanced countries due to many kinds of restriction and the rack of support. Consequently, the Activation Schemes for Korean Venture Capital Firms are as follows. First, the sources of venture capital need to diversify from angels to institutional investors such as banks, pensions, fund of fund. And Lastly, the internal management and operational system of venture capital companies should be strengthened by quality to that of global Venture Capital Firms.

• Journal of Navigation and Port Research
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• v.35 no.9
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• pp.765-776
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• 2011

For container shipping company, fuel oil prise is a considerable expense. Since 2008, fuel oil prises have risen dramatically. An increasing fuel oil price in container shipping, in the short term, is only partially compensated through surcharges and may affect earnings negatively. This study discusses the impact of an increasing fuel oil price and capital costs for vessels on the Asia-Europe trade of 'H' Shipping Company. According to the result of 'H' carrier's operation in 2008, there were no cost differences between 8 and 9 vessels operations in case of fuel oil price with USD 169/tons while adopting USD 31,818 as a fixed cost. We can expect that the fuel oil price will not go lower than USD 200/Ton on the basis of current high oil price phenomenon. When the fuel oil price is over USD 200/ton, 9 vessel operation is more economic than 8 vessel operation even if the fixed cost is over USD 35,000.

• Journal of Korean Society of Water and Wastewater
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• v.27 no.1
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• pp.129-138
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• 2013

Water interruption is often caused by a rupture in the branch-like singular pipeline. This will cause critical complaints from household and may decrease public service quality. As an alternative of singular pipeline, additional parallel pipeline could be installed for sustainable water supply. This system is called double pipeline system and able to be utilized for water transmission line between treatment plant and distribution reservoir. Construction of double pipeline was thought to increase capital cost, which can be an issue to waterworks authorities. Reducing capital cost was possible by means of installing connectors between two parallel pipelines because of reduced diameter of each pipe. To obtain optimal design condition for connectors, it was necessary to compare water pressure according to accident location, to investigate flow according to connection pipe spacing, connection pipe diameter, and aging of pipe. Reliable and economical connection layouts were determined based on these results. The cost estimation for each design condition was carried out. Cost was approximately reduced by 20 ~ 30 % compared to the double pipeline without connections. In addition to this, connection between double pipelines could expect extra benefits for maintenance since the pipe could be repaired and rehabilitated without interruption.

• Journal of the Korean Society of Combustion
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• v.22 no.1
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• pp.14-22
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• 2017

Co-firing of renewable fuel in coal fired boilers is an attractive option to mitigate $CO_2$ emissions, since it is a relatively low cost option for efficiently converting renewable fuel to electricity by adding biomass as partial substitute of coal. However, it would cause reducing plant efficiency and operational flexibility, and increasing operation and capital cost associated with handling and firing equipment of renewable fuels. The aim of this study is to investigate the effects of biomass co-firing on $CO_2$ emission and capital/operating cost. Wood pellet, PKS (palm kernel shell), EFB (empty fruit bunch) and sludge are considered as renewable fuels for co-firing with coal. Several approaches by the co-firing ratio are chosen from previous plant demonstrations and commercial co-firing operation, and they are evaluated and discussed for $CO_2$ reduction and cost estimation.

• Proceedings of the Korean Society for Agricultural Machinery Conference
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• 1993.10a
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• pp.139-147
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• 1993

The rapid industrial growth, the consequent shortage of farm labour and increase in their wage level have facilitated more capitalized agricultural mechanization pattern in Korea. The efficiency of capital intensive machine is highly dependent on farm land structure. This paper describes a model explaining the relationship between farmland structure and required inputs for machine operation and to estimate required inputs for machine operation on the national basis for Korea for its paddy production system. The machine cost is closely related to operation area, but the required labour-hours are more related to machine type adopted . From the technology introduction point of view, if capital intensive machine is introduced, less labour-hours are required but machine kW-hours increase rapidly. From the plot geometry point of view, on good geometry plots, machine kW-hour and labour-hour required are less than that on the poor geometry plots. The kW-jhour per hectare of mechani al energy input id better indicator of mechanization level than kW per hectare or number of machine. If the adopted technology is more capital intensive and plot geometry is good, the cost reduction effect is highly significant.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.72-76
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• 2015

Capital project benchmarking requires an effective cost normalization process to compare cost performance of projects accomplished in different time and location. Existing cost normalization approaches have been established based on the assumption that all required information for cost normalization is fully identified once a project is completed. Cost normalization, however, is sometimes required to evaluate phase-level outcomes of an ongoing project where the required information is not fully available. This paper aims to provide a cost normalization procedure for phase-based performance assessment. The procedure consists of three normalization steps: currency conversion, location adjustment, and time adjustment considering various scenarios where the required information is not fully identified. This paper also presents how the cost normalization procedure has been applied to the 10-10 Performance Assessment Program, which is a phase-based performance assessment system developed by the Construction Industry Institute (CII). Both researchers and industrial professionals can apply the cost normalization procedure to studies and practices regarding to cost estimation, feasibility analysis, and performance assessment.

• International Journal of Advanced Culture Technology
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• v.9 no.3
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• pp.271-276
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• 2021

In this paper we analyze the effect of the credit period on inventory policy under trade credit with ordering cost including a fixed cost and freight cost, where the freight cost has a quantity discount. For marketing purposes, some supplier offers credit period to his buyer to stimulate the demand for the product he produces. The delay in payments during the credit period has the effect of reducing the buyer's capital opportunity cost. It is also assumed that the buyer pays the freight cost for the order and hence, the ordering cost consists of a fixed ordering cost and a variable freight cost which depends on the order quantity. As a result, the possibilities of trade credit and discounts on freight costs are expected to play an important role in the buyer's inventory policy. Based on the economic order quantity inventory model, we analyze how the buyer can determine the optimal inventory policy and we examine the effect of the length of credit period on the buyer's inventory policy.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.6
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• pp.110-118
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• 2017

This study investigated empirically one of the controversial subjects in modern finance, in that there is an optimal level of capital structure for KOSPI-listed firms in the Korean capital market. Given the major theories on the capital structure, such as Myers' pecking order, trade-off, and agency cost ones, this study applied an analysis of covariance models in parametric and non-parametric statistical methods. In particular, two covariates to control for the possible effects of trade-off and agency cost, were employed separately in each corresponding model, while the other proxy for pecking order rationale was adopted in previous research [1] to conduct inter- and intra-industry analyses. Based on the outcomes obtained from the study, it was demonstrated empirically that there are optimal capital structures for firms in the sample industries at the inter-industry level, whereas statistical differences indicating non-existence of an optimal point, were revealed within the industry. Accordingly, these findings suggest a new vision to potential investors that firms in the domestic market may have financial opportunities to increase their value by gradually adjusting the leverage ratios in terms of the intra-industry perspective.