• Journal of Digital Convergence
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• v.18 no.6
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• pp.217-223
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• 2020

The purpose of this study is to examine the restructuring strategies that are selected according to the corporate life cycle and to provide evidence that restructuring strategies that are chosen when firms face financial difficulties can have a positive impact on corporate restructuring. This study is logistic regression analysis of 3,593 samples of companies listed on Korea Exchange from 2001 to 2016. The results of this study show that a company that is growing through the expansion of its size and investment can overcome the financial difficulties of the company. And this study finds evidence that the declining firms use the capital increase or debt issuance to revive the corporate regeneration. The results of this study suggest that it is important to consider the life cycle at the time of corporate restructuring and select the appropriate strategy accordingly.

• Journal of Korea Technology Innovation Society
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• v.17 no.1
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• pp.124-145
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• 2014

Market failure occurs when Pareto efficiency is not achieved through market mechanism. In order to solve this problem, government intervene market; paying great attention to the optimum state of resource allocation. However, as the size of government investment in R&D goes up, many professionals emphasize the importance in efficient management system. This work is the result of exploratory study to look into life-cycle management of governmental R&D program. Literature reviews and empirical research on governmental R&D programs elicit improvements for effective life-cycle management of governmental R&D program as follows: consistent discrimination between capital expenditure and recurring expenditure, dual management system by spending properties, implementing total cost management system in capital expenditure, and discrimination between preliminary feasibility study with confirming total program cost in recurring expenditure.

• Journal of the Korea Institute of Building Construction
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• v.16 no.2
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• pp.141-149
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• 2016

Recently, in an attempt to overcome the defects of quiescent power shutdown system, smart quiescent power control system has been developed. However, due to its higher investment costs, feasibility evaluation must be conducted. While LCCA (Life Cycle Cost Analysis) model is useful to estimate net savings of alternatives that differ with respect to initial costs and operating costs, the environmental burdens are not considered. On the contrary, LCA (Life Cycle Assessment) model is suitable to assess environmental impacts associated with the stages of a product's life but it does not consider costs. In this study, a comprehensive analysis on the economic and environmental impacts of smart quiescent power control system is conducted by using LCCA and LCA model. In addition, sensitivity analysis is carried out to quantify accuracy of estimates.

• Journal of Society of Preventive Korean Medicine
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• v.21 no.2
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• pp.69-78
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• 2017

Objectives : This study aims to analyze the public investment for Korean Medicine R&D to facilitate the future strategic planning. Methods : All government supported research projects for Korean Medicine that were invested in 2009, 2012, 2015 were searched in the NTIS (National Science & Technology Information Service) Database. Research budgets were analyzed by government departments, R&D agents, R&D steps, and research fields. CAGR (Compound Annual Growth Rate) was derived from each Korean Medicine research field. Differences of research budgets among research fields were tested using Chi square analysis. Results : A total of 891 projects supported in 2009, 2012, and 2015 was analyzed. The amount of research budgets has increased, from 49,839 million won in 2009 to 106,536 million won in 2015 showing 13.5% of CAGR. Ministry of Science, ICT, and Future Planning, and Ministry of Health and Welfare were the biggest sponsors in Korean Medicine R&D. Chi square analysis showed that, in this period, there were statistically significant differences of research budgets in Korean Medicine technology equipment field and infrastructure field. Conclusions : To diversify the Korean Medicine R&D, unequal research funding among government departments should be relieved, and virtuous cycle of Industry-University-Institute Collaboration in Korean Medicine need to be built.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.24 no.9
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• pp.657-662
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• 2012

The cogeneration system can operate at efficiencies greater than those achieved when heat and power are produced in separate. The optimal system can be determined by selecting the auxiliary system combined with cogeneration system. In the present study, economic investigation has been conducted with the cogeneration electric heat pump(EHP) system and the cogeneration absorption chiller(AC) system to install in a school dormitory. To analyze life cycle cost(LCC), cost items such as initial investment costs, annual energy costs and maintenance costs of each system have been considered. The initial investment cost is referred to the basis of estimated costs, and annual energy costs such as the electric power and gas consumption are based on the data in a school dormitory. LCC is evaluated with the present worth method. Considering investigated results, the initial investment cost of the cogeneration EHP system is more profitable about 24% than that of the cogeneration AC system. The energy cost of the cogeneration EHP system is more profitable about 8% than the cogeneration AC system. The LCC shows that the cogeneration EHP system is the most effective system in the school dormitory.

• Journal of Information Technology and Architecture
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• v.9 no.4
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• pp.377-389
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• 2012

According to the E-Government Readiness Index announced by UN in 2012, the Republic of Korea ranked top again following the last time. However, according to the national competitiveness index announced by IMD, that of the Republic of Korea has still ranked in the world's top 20 for three successive years. In particular, the area of government efficiency took the 25th place in 2012, descending three steps compared to that in 2011, and the area of infrastructure related to informatization has been ranking 20th for three years. This phenomenon can prove that the Republic of Korea's informatization is not producing good outcome, and the investment in informatization is not creating good effects. This phenomenon was analyzed in terms of a life cycle of informatization in this study. As the result, it was revealed that structural problems remain in each step, the linking of information in each step is insufficient, reasonable trace management is absent ,and information management depending on systematic plan is lacking. To solve these problems, improvement measures through architecture consideration were suggested.

• Korean System Dynamics Review
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• v.2 no.2
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• pp.25-40
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• 2001

This paper describes the forecast of power plant construction in a competitive korean electricity market. In Korea, KEPCO (Korea Electric Power Corporation, fully controlled by government) was responsible for from the production of the electricity to the sale of electricity to customer. However, the generation part is separated from KEPCO and six generation companies were established for whole sale competition from April 1st, 2001. The generation companies consist of five fossil power companies and one nuclear power company in Korea at present time. Fossil power companies are scheduled to be sold to private companies including foreign investors. Nuclear power company is owned and controlled by government. The competition in generation market will start from 2003. ISO (Independence System Operator will purchase the electricity from the power exchange market. The market price is determined by the SMP(System Marginal Price) which is decided by the balance between demand and supply of electricity in power exchange market. Under this uncertain circumstance, the energy policy planners such as government are interested to the construction of the power plant in the future. These interests are accelerated due to the recent shortage of electricity supply in California. In the competitive market, investors are no longer interested in the investment for the capital intensive, long lead time generating technologies such as nuclear and coal plants. Large unclear and coal plants were no longer the top choices. Instead, investors in the competitive market are interested in smaller, more efficient, cheaper, cleaner technologies such as CCGT(Combined Cycle Gas Turbine). Electricity is treated as commodity in the competitive market. The investors behavior in the commodity market shows that the new investment decision is made when the market price exceeds the sum of capital cost and variable cost of the new facility and the existing facility utilization depends on the marginal cost of the facility. This investors behavior can be applied to the new investments for the power plant. Under these postulations, there is the potential for power plant construction to appear in waves causing alternating periods of over and under supply of electricity like commodity production or real estate production. A computer model was developed to sturdy the possibility that construction will appear in waves of boom and bust in Korean electricity market. This model was constructed using System Dynamics method pioneered by Forrester(MIT, 1961) and explained in recent text by Sternman (Business Dynamics, MIT, 2000) and the recent work by Andrew Ford(Energy Policy, 1999). This model was designed based on the Energy Policy results(Ford, 1999) with parameters for loads and resources in Korea. This Korea Market Model was developed and tested in a small scale project to demonstrate the usefulness of the System Dynamics approach. Korea electricity market is isolated and not allowed to import electricity from outsides. In this model, the base load such as unclear and large coal power plant are assumed to be user specified investment and only CCGT is selected for new investment by investors in the market. This model may be used to learn if government investment in new unclear plants could compensate for the unstable actions of private developers. This model can be used to test the policy focused on the role of unclear investments over time. This model also can be used to test whether the future power plant construction can meet the government targets for the mix of generating resources and to test whether to maintain stable price in the spot market.

• Safety and Health at Work
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• v.11 no.3
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• pp.314-321
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• 2020

Background: Occupational accidents occur for a variety of reasons, such as unsafe behaviors of workers and insufficient safety equipment at the workplace, but there are also various economic and social factors that can impact working conditions and working environment. This study analyzed the relationship between changes in economic factors and the occurrence of occupational accidents in Korea. Methods: Multilinear regression analysis was used as the analysis model. The general to specific method was also used, which consecutively removes statistically insignificant variables from a general model that includes dependent variables and lagged variables of dependent variables. Results: The frequency of occupational accidents was found to have a statistically significant relationship to economic indicators. The monthly number of cases of occupational injury and disease and fatal occupational injuries were found to be closely related to manufacturing capacity utilization, differences in the production index in the services sector, and commencements of building construction. The increase in equipment investment indicators was found to reduce fatal occupational injuries. Conclusion: The results of this study may be used to develop occupational accident trends or leading indicators, which in turn can be used by organizations that manage and monitor occupational accidents toward taking administrative action designed to reduce occupational accidents. The results also imply that short-term and mid- to long-term economic and social changes that can impact workers, workplaces and working conditions, and workplace organizations must be taken into account if more effective government policies are to be established and implemented toward further prevention of occupational accidents.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.28 no.7
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• pp.299-304
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• 2016

In recent years, heat source systems which have a principal effect on the performance of buildings are difficult to design optimally as a great number of design factors and constraints in large and complicated buildings need to be considered. On the other hand, it is necessary to design an optimum system combination and operation planning for energy efficiency considering Life Cycle Cost (LCC). This study suggests a multi-level and multi-objective optimization method to minimize both LCC and investment cost using a genetic algorithm targeting an office building which requires a large cooling load. The optimum method uses a two stage process to derive the system combination and the operation schedule by utilizing the input data of cooling and heating load profile and system performance characteristics calculated by dynamic energy simulation. The results were assessed by Pareto analysis and a number of Pareto optimal solutions were determined. Moreover, it was confirmed that the derived operation schedule was useful for operating the heat source systems efficiently against the building energy requirements. Consequently, the proposed optimization method is determined by a valid way if the design process is difficult to optimize.

• Journal of Energy Engineering
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• v.24 no.2
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• pp.45-50
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• 2015

In Korea ranking sixth out of The world's greenhouse gas emissions, all Korean public buildings have to implement obligatorily renewable energy systems for energy production to reduce the greenhouse gas emissions from the energy consumed in operation, maintenance and management of buildings. The optimum combination and application rates for each energy source emerge from analyzing the trend of previous studies and the energy consumption is simulated by using a dynamic energy simulation program and the initial investment costs, the energy costs, the maintenance costs, the replacement costs emerge based on the calculated result. The result show that the total life cycle cost of 100% gerthermal is the lowest with \ 2,105,974,344 on the analysis results.