• Proceedings of the Korea Contents Association Conference
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• 한국콘텐츠학회 2008년도 춘계 종합학술대회 논문집
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• pp.324-327
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• 2008

This research seeks to investigate the economic feasibility of a small size aircraft development and BASA certification enterprise. To achieve the objective, this research investigates cost which requires for proceeding a small size aircraft development and BASA certification enterprise. This research also investigates the economic effects and economic benefits acquired from exporting civil aircraft. Costs and benefits are assumed using cash flow by types of airplanes. On the basis of the cash flow, this research calculates B/C ratio, NPV, IRR for investigating the economic feasibility. The result shows that there are economic feasibility for both very light jet and piston aircraft. Between these two aircraft types, more economic feasibility exist for very light jet than piston aircraft.

• Journal of the Korean Society for Railway
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• 제12권3호
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• pp.420-426
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• 2009

Although the amount of travel demand is a critical factor in a benefit-cost (B/C) analysis of railway investment, the travel demand changes especially for induced demand have not been considered. Therefore, the basic study of how to estimate travel demand changes after railway investment is worth investigating. This study reviews the methodologies for estimating diverted and induced demand generated after railway investment, and proposes appropriate approaches that will help railway planners to practically apply them in a case study. Further, the research stimulates the needs of consideration of the travel demand changes in the feasibility studies of railway planning.

• Korean Security Journal
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• 제41호
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• pp.7-36
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• 2014

Recently the Korean government announced that minimum wage policy would be applied even to apartment security staffs by 2015 who had been waived from the policy enforcement for their unique work conditions. This caused apartment management to introduce unmanned security system instead of employing security staffs because of fearing possible hike of management fees. People recklessly tend to believe unmaned system is cheaper than maned system if minimum wage guideline is applied. This study examines the economic feasibility of two different apartment security systems by utilizing cost-benefit analysis: maned and unmaned security systems. The authors estimate the costs and the benefits of each security system for 5 years(2014-2018) with application of social discount rate(5.5%). Thirty six apartment complexes at 8 different areas(meons and dongs) in Asan, Chungcheongnam-do province were surveyed. And to attain the exact costs of unmaned system establishment and operation, the authors interviewed persons working for the unmaned security corporations. The benefit-cost(B/C) ratio for unmanned security system is 1.66% at minimum and 1.30% at maximum. while B/C ratio for manned security system is 1.42% and 1.66% respectively. This results mean that people's belief is not correct, that is, transferring from maned system to unmaned is not always economically efficient. Benefits of maned security system is more diverse than unmaned system. The former provides living conveniences(parking helps and keeping parcels) and social benefits(employing aged worker and giving them opportunities to enjoy happier lives) as well as security benefits like crime prevention. The latter provides security benefits only, but that effect is also doubtable. Taking into account these diverse benefits maned system provides, the B/C ratio of maned system is equitable or higher than unmaned system.

• Journal of Korean Society of Transportation
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• 제23권3호
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• pp.95-108
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• 2005

The purpose of this study is to develop the ITS evaluation model using the Probabilistic Risk Analysis (PRA) methodology and to demonstrate the goodness-of-fit of the large ITS projects through the comparative analysis between DEA and PRA model. The results of this study are summarized below. First, the evaluation mode] using PRA with Monte-Carlo Simulation(MCS) and Latin-Hypercube Sampling(LHS) is developed and applied to one of ITS projects initiated by local government. The risk factors are categorized with cost, benefit and social-economic factors. Then, PDF(Probability Density Function) parameters of these factors are estimated. The log-normal distribution, beta distribution and triangular distribution are well fitted with the market and delivered price. The triangular and uniform distributions are valid in benefit data from the simulation analysis based on the several deployment scenarios. Second, the decision making rules for the risk analysis of projects for cost and economic feasibility study are suggested. The developed PRA model is applied for the Daejeon metropolitan ITS model deployment project to validate the model. The results of cost analysis shows that Deterministic Project Cost(DPC), Deterministic Total Project Cost(DTPC) is the biased percentile values of CDF produced by PRA model and this project need Contingency Budget(CB) because these values are turned out to be less than Target Value(TV;85% value), Also, this project has high risk of DTPC and DPC because the coefficient of variation(C.V) of DTPC and DPC are 4 and 15 which are less than that of DTPC(19-28) and DPC(22-107) in construction and transportation projects. The results of economic analysis shows that total system and subsystem of this project is in type II, which means the project is economically feasible with high risk. Third, the goodness-of-fit of PRA model is verified by comparing the differences of the results between PRA and DEA model. The difference of evaluation indices is up to 68% in maximum. Because of this, the deployment priority of ITS subsystems are changed in each mode1. In results. ITS evaluation model using PRA considering the project risk with the probability distribution is superior to DEA. It makes proper decision making and the risk factors estimated by PRA model can be controlled by risk management program suggested in this paper. Further research not only to build the database of deployment data but also to develop the methodologies estimating the ITS effects with PRA model is needed to broaden the usage of PRA model for the evaluation of ITS projects.

• KSCE Journal of Civil and Environmental Engineering Research
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• 제30권5D호
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• pp.513-522
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• 2010

Underground construction for traffic networks, complexes, and storage facilities has risen as an effective land use plan for dealing with emerging problems such as overcrowded urban cities and traffic jams. This paper performed an economic feasibility analysis of the development of the integrated field management system which provides field workers and managers with 3D-based location tracking and clear communication during underground construction works. To conduct the analysis, processes and problems of field management for underground construction were analyzed and deduction in accidents and field management costs and productivity improvement were estimated as expected benefits. Based on computed benefits and costs, an economic analysis was conducted using Benefit/Cost ratio(B/C), Net Present Value(NPV), and Internal Rate of Return(IRR) and then sensitivity analysis was performed to cope with the uncertainty of assumed variables.

• Journal of Korean Society of Environmental Engineers
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• 제38권12호
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• pp.676-682
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• 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.

• Journal of Korea Technology Innovation Society
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• 제14권spc호
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• pp.1096-1127
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• 2011

This research focus on estimating the economic effects of TOD system development from the perspective of new market creation, R&D planning cost reduction and increase of R&D projects' commercialization success rates. The research is conducted through simulation and scenario analysis with assumptions about economic effect parameters. Scenario analysis shows that scenario 1 (the application ratio of the new TOD system to total Korean R&D programs' planning is 1.4%) results in total economic effects, 921.3 billion won in 2011 price with B/C ratio 6.15, that scenario 2 (the application ratio is 1.9%) results in total economic effects, 1,250.3 billion won in 2011 price with B/C ratio 8.34, and that scenario 3 (the application ratio is 0.9%) results in total economic effects, 592.2 billion won in 2011 price with B/C ratio 3.95. The research contributed to the prior evaluation of economic validity of "R&D on Technology Opportunity Development (TOD) system" and to cultivating the new methodology of economic benefit estimation in the area of R&D on system development.

• The Journal of Fisheries Business Administration
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• 제33권2호
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• pp.1-29
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• 2002

The main objective of this research aims at analyzing efficiency of government financial transfers(GFTs) to the Korean fisheries sector, using the Linear Structural Relations model(i.e., LISERL model) and the field survey data. Most policies of GFTs tend to be implemented to protect industries with weak competitive advantages such as infant and/or primary industries. Specific policy instruments include income transfers, government loans with lower interest rates, taxes and the like. Fishing activities are made at a highly changeable natural environment of the ocean with a great amount of risk and uncertainty. Fishing households make their livelihood under the small-scale fisheries. Such fisheries and fishing households have also a relatively weak market power. Because of these fisheries characteristics most coastal states have adopted a variety of government support programs. However, despite such a huge government support, during the past several decades the world fishing communities have seen a tendency of continuous fishereis resource overexploitation. For this resason there have been hot debates over the government support policies for fisheries through OECD, FAO, WTO, and UNEP. In general, policy evaluations tend to be made on the basis of benefit-cost(B/C) analysis. However, the B/C analysis may produce results quite different from real ones primarily due to many unmeasurable effects. Thus, the authors composed simple questionaires and let fishermen, government officials and academic people answer the questions. The survery was made in several ways such as post-mail and personal/group interviews. In recent years, for analysis of policy performances and effectiveness, the LISREL model has often been used, which consists of structural and measurement eqquations. This model has a good advantage of transforming unobservable variables to observable ones so that it helps construct endogenous cause and effect relationships among relevant variables. The evaluation was done from the two aspects: policy results and policy effectiveness. The policy result evaluation showed that there is a need for improvement for policy problem perception and decision-making process, while the policy effect evaluation suggested that the policy goals were successfully achieved and social justice was improved from the perspective of the entire society as well. However, the research results showed that the GFT policies rendered little contrubtion to narrowing down the gap between GFT beneficiaries and non-beneficiaries incomes.

• Korean Journal of Agricultural Science
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• 제50권4호
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• pp.785-798
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• 2023

Considering irrigation facilities are currently insufficient and drought vulnerability due to climate change is high, efficient measures are required to secure water supply for field crops. This study, therefore, calculated the water shortage to secure water for representative field crops. An economic analysis was further conducted by comparing the production income to the input cost for each method. Here, five distinct regions were selected to represent each crop-Cheongyang-gun for chili peppers, Yesan-gun for apples, Dangjin-si for cabbages, Seosan-si for garlic, and Goesan for beans. The regions with insufficient water supply were estimated by calculating the water requirements and the supplied water from public groundwater wells for each area. A comprehensive set of four scenarios was presented as a strategy to ensure water security and manage irrigation facilities. These scenarios comprised the maintenance of existing groundwater wells, the construction of new water storage tanks, the installation of additional groundwater wells, and the utilization of surface water. B/C (benefit/cost) analysis was conducted for each scenario. As a result, the construction of water storage tanks was selected as a facility and water management plan in Cheongyang-gun, Dangjin-si, and Seosan-si. The analysis additionally indicated the economic viability of installing surface water utilization facilities in Yesan-gun and developing water storage tanks and groundwater (aquifer) wells in Goesan-gun. The results of this study are considered to serve as foundation data that may be utilized in the selection of water management plans for drought-prone areas in the future.

• Journal of Korean Society of Transportation
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• 제30권6호
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• pp.59-70
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• 2012

The relative importance of leisure trip has been increased after adopting the five-day workweek system and considering the higher income level. Thus, the value of travel time for intercity leisure trips should be estimated to conduct a reasonable benefit/cost analysis for railway construction projects. In this paper, the value of travel time was estimated separately for each trip purpose such as business, leisure, and other non-business than leisure. The estimated values of leisure travel time ranged from 5,310 to 14,185 (won/hr) by altering travel mode, and were increased by 42-107% when comparing with those of non-business travel time. Besides, how to apply the value of intercity leisure travel time for B/C analysis of railway projects was suggested. For the construction case of a railway connecting Chuncheon and Sokcho, the estimated benefit was increased by 2.3%.