• Journal of Korean Society of Forest Science
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• v.104 no.4
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• pp.649-656
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• 2015

The objective of this study was to analyze the optimal thinning regimes for timber or carbon managements in Cryptomeria japonica stands of Hannam Experimental Forest, Korea Forest Research Institute. In solving the problem, PATH algorithm, developed by Paderes and Brodie, was used as the decision-making tool and the individual-tree/distance-free stand growth simulator for the species, developed by Kwon et al., was used to predict the stand growth associated with density control by thinning regimes and mortality. The results of this study indicate that the timber management for maximum net present value (NPV) needs less number of but higher intensity thinnings than the carbon management for maximum carbon absorption does. In case of carbon management, the amount of carbon absorption is bigger than that of timber management by about 6% but NPV is reduced by about 3.2%. On the other hand, intensive forest managements with thinning regimes promotes net income and carbon absorption by about 60% compared with those of the do-nothing option.

• Journal of Climate Change Research
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• v.1 no.3
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• pp.219-226
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• 2010

This study is analyzed the financial feasibility of biomass power plant in China in terms of fuel marginal price of biomass power plant. The range of fuel price is 150~300 RMB and IRR(Internal Rate of Return), NPV(Net Present Value), DSCR(Debt Service Coverage Ratio) and operation time are analyzed by 10 RMB from 150 RMB. The sensitivity of IRR went down by 1.35 on average. The sensibility of NPV showed big difference by 20% on 260 RMB and 270 RMB. In addition, DSCR of loan is at 1.0 at raw cost of 242 RMB and at lower than 1.0 when the raw cost over 242 RMB. It means that the pay-off of principal and interest of the loan is expected to be difficult in that case. The operation time of power plant should be 88% against standard operation time to maintain over 1.0 of DSCR. Therefore, the factors affecting the cost of raw material to build the power plant and to operate it should be prioritized.

• Journal of the Korean Society of Marine Environment & Safety
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• v.25 no.1
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• pp.102-110
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• 2019

The shipbuilding and offshore plant industry of Korea is important and leads Korea's economic growth, designated as the 1st to 4th export items in Korea in terms of export contribution over the period from 2011 to 2015. This study proposes ways to improve the national competitiveness of Korean shipyards in the global offshore drilling market by reviewing a business model for providing an integrated offshore drilling commissioning service in Korea. This commissioning service model, which was attempted in 2014, was reviewed, and a new proposed business model for overcoming the limitations of the previous model and activating further business was evaluated. As a result of an economic evaluation, it was found that a 150-meter water depth model is economically more effective. As the number of integrated commissions increased from 2 to 5 times per year, NPV, IRR and B/C ratios increased and the fee per use decreased. Therefore, for offshore drilling facilities constructed and delivered in Korea, it will be necessary to encourage integrated offshore commissioning.

• Resources Recycling
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• v.31 no.3
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• pp.40-52
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• 2022

This study analyzed the amount of carbon dioxide reduction and economic benefits of detailed processes of CO₂ 6,000 tons plant facilities with mineral carbonation technology using carbon dioxide and coal materials emitted from domestic circulating fluidized bed combustion power plants. Coal ash reacted with carbon dioxide through carbon mineralization facilities is produced as a complex carbonate and used as a construction material, accompanied by a greenhouse gas reduction. In addition, it is possible to generate profits from the sales of complex carbonates and carbon credits produced in the process. The actual carbon dioxide reduction per ton of complex carbonate production was calculated as 45.8 kgCO₂eq, and the annual carbon dioxide reduction was calculated as 805.3 tonCO₂, and the benefit-cost ratio (B/C Ratio) is 1.04, the internal rate return (IRR) is 10.65 % and the net present value (NPV) is KRW 24,713,465 won, which is considered economical. Carbon mineralization technology is one of the best solutions to reduce carbon dioxide considering future carbon dioxide reduction and economic potential.

• Korean Journal of Radiology
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• v.22 no.12
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• pp.1964-1973
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• 2021

Objective: To investigate the diagnostic performance of CT fractional flow reserve (CT-FFR) for myocardial bridging-related ischemia using dynamic CT myocardial perfusion imaging (CT-MPI) as a reference standard. Materials and Methods: Dynamic CT-MPI and coronary CT angiography (CCTA) data obtained from 498 symptomatic patients were retrospectively reviewed. Seventy-five patients (mean age ± standard deviation, 62.7 ± 13.2 years; 48 males) who showed myocardial bridging in the left anterior descending artery without concomitant obstructive stenosis on the imaging were included. The change in CT-FFR across myocardial bridging (ΔCT-FFR, defined as the difference in CT-FFR values between the proximal and distal ends of the myocardial bridging) in different cardiac phases, as well as other anatomical parameters, were measured to evaluate their performance for diagnosing myocardial bridging-related myocardial ischemia using dynamic CT-MPI as the reference standard (myocardial blood flow < 100 mL/100 mL/min or myocardial blood flow ratio ≤ 0.8). Results: ΔCT-FFR_systolic (ΔCT-FFR calculated in the best systolic phase) was higher in patients with vs. without myocardial bridging-related myocardial ischemia (median [interquartile range], 0.12 [0.08-0.17] vs. 0.04 [0.01-0.07], p < 0.001), while CT-FFR_systolic (CT-FFR distal to the myocardial bridging calculated in the best systolic phase) was lower (0.85 [0.81-0.89] vs. 0.91 [0.88-0.96], p = 0.043). In contrast, ΔCT-FFR_diastolic (ΔCT-FFR calculated in the best diastolic phase) and CT-FFR_diastolic (CT-FFR distal to the myocardial bridging calculated in the best diastolic phase) did not differ significantly. Receiver operating characteristic curve analysis showed that ΔCT-FFR_systolic had largest area under the curve (0.822; 95% confidence interval, 0.717-0.901) for identifying myocardial bridging-related ischemia. ΔCT-FFR_systolic had the highest sensitivity (91.7%) and negative predictive value (NPV) (97.8%). ΔCT-FFR_diastolic had the highest specificity (85.7%) for diagnosing myocardial bridging-related ischemia. The positive predictive values of all CT-related parameters were low. Conclusion: ΔCT-FFR_systolic reliably excluded myocardial bridging-related ischemia with high sensitivity and NPV. Myocardial bridging showing positive CT-FFR results requires further evaluation.

• The Journal of Fisheries Business Administration
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• v.41 no.1
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• pp.113-128
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• 2010

This study is aimed to analyze the economic feasibility of the selective breeding program on the Oliver flounder aquaculture. First of all, in order to evaluate this program, we review the concept and research trend on the selective breeding. The objective of this research is the selective breeding program on the Oliver flounder aquaculture in the Genetics and Breeding Research Center, NFRDI. It was conducted to investigated economic effects of three factors of the selective breeding program on the Oliver flounder aquaculture such as fast growth, disease resistance and increase exports. The results of economic analysis of the selective breeding program on the Oliver flounder aquaculture are as follows; First, there were the significant meaning of the economic effects on the technology of the selective breeding program by fast growth, disease resistance and increase exports. Second, we analyzed in the economic feasibility of the selective breeding program on the Oliver flounder aquaculture from 2004 to 2020, internal rate of return(IRR) was 419%, a benefit-cost ratio was shown to be 24.92, net present value(NPV) was 989,942,464 thousand won, which indicates the economic feasibility of the selective breeding program is very high. Finally, in order to improve the economic feasibility, there is need to be focused on the efficient the selective breeding program on the Oliver flounder aquaculture.

• International Journal of Industrial Entomology and Biomaterials
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• v.13 no.2
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• pp.73-77
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• 2006

Combining ability and hybrid vigour analysis was carried out in hybrids between newly developed non-susceptible lines to BmDNV1 and popular bivoltine breeds for certain quantitative traits viz. Pupation rate, Cocoon yield, Cocoon weight, Cocoon shell weight and Cocoon shell ratio, Survival rate against BmIFV and BmNPV. General combining ability (GCA) effects revealed that among the lines CSR2DR was found good general combiner exhibiting significant GCA effects for six characters, out of seven traits evaluated. Among testers CSR28DR was found as good combiner exhibiting significant GCA effects for six traits. Out of 36 hybrids made between $resistant{\times}resistant,\;resistant{\times}susceptible\;and\;susceptible{\times}susceptible$ breeds, one hybrid $CSR21DR{\times}CSR28DR$ exhibited significant SCA effects for six traits. The selected hybrid $CSR21DR{\times}CSR28DR$ also exhibited significant positive heterosis and heterobeltiosis expressions for maximum traits and could be exploited as commercial silkworm hybrid resistant to important viral diseases.

• 한국신재생에너지학회:학술대회논문집
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• 2011.11a
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• pp.36.1-36.1
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• 2011

풍력개발 기술이 발전함에 따라 풍력발전시스템이 점차 대용량화되는 추세이며, 경제성 있는 풍력단지 건설을 위해 점차 대단지화 되어가고 있는 실정이다. 이로 인해 풍력 발전단가(Cost of electricity, COE)도 개선되고 있다. 풍황이 양호한 풍력발전단지의 경우, 풍력발전 COE는 현재 50~60원/kWh 수준으로 타 신재생에너지원에 비해 경쟁력이 높고, 석탄 화력의 COE와 비교해 봐도 동등한 수준 혹은 더욱 경쟁력 있는 수준으로 감소하였다. 풍력발전단지 조성을 위해서는 시스템의 효율과 고효율, 저비용의 풍력발전시스템을 풍황이 좋은 지역에 설치할 때 낮은 COE를 가지는 경제성 있는 발전단지가 가능하다. 동급 용량 풍력발전시스템을 같은 지역에서 설치하여 에너지생산량을 증대시키기 위해서는 블레이드 지름의 증가시켜 유량을 증가시키거나 타워의 높이를 증가시켜 풍속을 증가시키는 방안이 있다. 이 경우 블레이드 길이와 타워 높이 증가에 의한 시스템 비용의 증가가 발생하는데, 에너지생산량 증가에 의한 수익비용과 시스템 비용 증가에 의한 자본비용은 서로 반비례로 영향을 미친다. 이를 위해 최소의 COE의 최대의 순현재가치(Net Present Value, NPV)를 갖는 목적함수로 두고 블레이드의 최적 길이와 타워의 최적 높이를 선정하였다.

• Plant Journal
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• v.8 no.3
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• pp.42-48
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• 2012

Under traditional analysis of the capital budgeting, NPV, it is assumed that management cannot react to deviation from the expected scenario of cash flow at the time of evaluation. In practice, however, it is less likely that the expected scenario will come true when new information arrives and uncertainty is resolved. Uncertainty and risk can be influenced through 'managerial flexibility', which becomes a central instrument for value creation. Real option framework including option to defer, option for staged investment, option to alter, option to abandon, option to switch, etc. takes this managerial flexibility into account. Therefore, it is more appropriate to use real option method to evaluate the project than the traditional DCF(discounted cash flow) tool if the firm has high volatility of the expected returns.

• Journal of Fisheries and Marine Sciences Education
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• v.27 no.3
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• pp.821-832
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• 2015

The aims of this study are to estimate the optimal vessel reduction scales and these direct economic effects of coastal and offshore fisheries in the Republic of Korea. To estimate respectively optimal fishing efforts of individual fishery by species in coastal and offshore fisheries, we adopted appropriate fishing power of each species published by National Fisheries Research and Development Institute and also considered biological and socio-economic factors such as the bycatch rate, the profit rate, the efficiency of resource use, the average age of fishing vessel, the intention of vessel reduction, and the annual changes in vessels by other factors. The direct economic effects of the optimal vessel reduction in coastal and offshore fisheries based on maximum sustainable yield and 2/3 maximum sustainable yield was calculated by a cost-benefit analysis. This study showed that optimal reduction numbers of vessels engaged in coastal and offshore fisheries were 4,431 and 374 vessels and the direct economic effects in coastal and offshore fisheries were about 371.7 and 569.4 billion won and these NPV and BCR were 111.7 billion won and 1.65 and 342.6 billion won and 4.97 respectively.