• Proceedings of the Korea Water Resources Association Conference
• /
• 2018.05a
• /
• pp.106-106
• /
• 2018

Ecosystem service valuation is a crucial step for the sustainable management of watershed. In the context of various ecosystem services provided by watershed, this study, particularly deals with water yield computation in Bagmati Basin of Nepal. The water availability per population in Bagmati Basin is lowest compared to other basins in Nepal. Also, the rate of urbanization is rapidly growing over a decade. In this regard, the objectives of this study are 1) to compute the total water yield of the basin along with computation on a sub-watershed scale, and 2) Study the impacts of land use change on water yield based on CLUE-S model. For the study, Integrated Valuation of Environmental Services and Tradeoffs (InVEST), a popular model for ecosystem service assessment based on Budyko hydrological method is used to compute water yield. As well, CLUE-S model is used to study land use change, which is further related to study variation on water yield. The sub-watershed wise outcome of the study is expected to provide the guidelines for the effective and economic management of a watershed on a regional scale.

• The Journal of Fisheries Business Administration
• /
• v.52 no.2
• /
• pp.1-31
• /
• 2021

This study is to evaluate the prior economic feasibility of the off-shore fisheries stock enhancement project. The main findings of this study can be summarized as follows: first, offshore fisheries stock enhancement project shall be implemented by dividing them into 1st·2nd·3rd projects for efficient promotion. The 1st·2nd·3rd projects will be conducted in a total of 50 locations (the eastern sea, the western sea, the southern sea, and the jeju sea areas), and the project period per unit will be five years, which will cost 1 trillion won. Second, according to the results of the survey on public awareness, the most consumed marine species in Korea over the past year were analyzed in the order of mackerel, hairtail, squid, yellow corvina, blue crab, and cod. The dominant response to the reason for consuming marine products in Korea was healthy well-being food and safe food. In addition, 67.9% of them have hesitated to purchase offshore fish species over the past year due to high prices, indicating that they are burdened by high prices. On the other hand, 79% of the respondents said that the government's policy was insufficient, according to a survey on whether the government's coastal marine resource creation policy was sufficient. Third, as a result of preliminary economic analysis of offshore fisheries stock enhancement project, the benefit-cost ratio is 4.01, net present price is 1,283.7 billion won, and internal rate of return is 91.7% per year, which means that the economic analysis ensures the feasibility of the projects. The results of this study provide useful information on securing or organizing budgets for offshore fisheries stock enhancement project by securing economic feasibility as a national infrastructure project that increases fishery income and public benefits such as consumption of marine products.

• Bulletin of the Korean Mathematical Society
• /
• v.40 no.3
• /
• pp.509-520
• /
• 2003

Let p be a prime number, $Q_{p}$ the field of p-adic numbers, K a finite extension of $Q_{p}$, $\bar{K}}$ a fixed algebraic closure of K and $C_{p}$ the completion of K with respect to the p-adic valuation. Let E be a closed subfield of $C_{p}$, containing K. Given elements $t_1$...,$t_{r}$ $\in$ E for which the field K($t_1$...,$t_{r}$) is dense in E, we construct integral bases of E over K.

• Communications of the Korean Mathematical Society
• /
• v.29 no.1
• /
• pp.23-26
• /
• 2014

Let E be a graded central division algebra (GCDA) over a grade field R. Let S be an unramified graded field extension of R. We describe the grading on the underlying GCDA E' of $E{\otimes}_RS$ which is analogous to the valuation on a tame division algebra over Henselian valued field.

• Journal of Forest and Environmental Science
• /
• v.28 no.1
• /
• pp.24-29
• /
• 2012

This paper assesses the stmpage value of Korean white pine (Pinus koraiensis) stands in the Research Forest of Kangwon National University. Assessment was done by means of the cost value method (Faustmann formula) for age class I, Glaser method for age class II-V, and inversion market method for age class over VI. Generally the value of stumpage is calculated by the inversion market method in the market. However, immature trees and middle age class trees are not assessed in market, and the Korean forest is not old enough to harvest. So, when forests are damaged by attacks from forest fire, blight and harmful insects, the forest cannot be compensated for the loss from the government or insurance company. For this reason, the value of all-age class trees are calculated by using appropriate methods. As a result, the value of age I class stands (0.3 ha) is calculated as 1,786,305 (won), age II-Vclass stands (22.1 ha) 206,677,975 (won) and age VI class and over stands (24.8 ha) 523,789,603 (won).

• Proceedings of the Korea Water Resources Association Conference
• /
• 2019.05a
• /
• pp.148-148
• /
• 2019

The 2006 Millennium Ecosystem Assessment (MA) defines ecosystem services (ES) as "the benefits people obtain from ecosystems". Identifying where ES originates, whom it benefits and how it is changing over a period of time is critical in rapidly developing country like Nepal, where the risk of ES loss is high. In the context of various ecosystem services provided by watershed, this study, particularly deals with water yield, Soil loss and Carbon sequestration computation and evaluation in Bagmati Basin of Nepal. As Bagmati Basin incorporates capital city Kathmandu of nepal, land use change is significant over decades and mapping of ES is crucial for sustainable development of Basin in future. In this regard, the objectives of this study are 1) To compute the total and sub-watershed scale water yield of the basin, 2) Computation of soil loss and sediment retention in the basin, and 3) Computation of carbon sequestration in the basin. Integrated Valuation of Environmental Services and Tradeoffs (InVEST), a popular model for ecosystem service assessment based on Budyko hydrological method is used to compute Ecosystem services. The scenario of ES in two periods of time can be referenced for various approaches of prioritization and incorporation of their value into local and regional decision making for management of basin.

• Communications of the Korean Mathematical Society
• /
• v.23 no.4
• /
• pp.511-528
• /
• 2008

Let (R, m) be a 2-dimensional regular local ring with algebraically closed residue field R/m. Let K be the quotient field of R and $\upsilon$ be a prime divisor of R, i.e., a valuation of K which is birationally dominating R and residually transcendental over R. Zariski showed that there are finitely many simple $\upsilon$-ideals $m\;=\;P_0\;{\supset}\;P_1\;{\supset}\;{\cdots}\;{\supset}\;P_t\;=\;P$ and all the other $\upsilon$-ideals are uniquely factored into a product of those simple ones [17]. Lipman further showed that the predecessor of the smallest simple $\upsilon$-ideal P is either simple or the product of two simple $\upsilon$-ideals. The simple integrally closed ideal P is said to be free for the former and satellite for the later. In this paper we describe the sequence of simple $\upsilon$-ideals when P is satellite of order 3 in terms of the invariant $b_{\upsilon}\;=\;|\upsilon(x)\;-\;\upsilon(y)|$, where $\upsilon$ is the prime divisor associated to P and m = (x, y). Denote $b_{\upsilon}$ by b and let b = 3k + 1 for k = 0, 1, 2. Let $n_i$ be the number of nonmaximal simple $\upsilon$-ideals of order i for i = 1, 2, 3. We show that the numbers $n_{\upsilon}$ = ($n_1$, $n_2$, $n_3$) = (${\lceil}\frac{b+1}{3}{\rceil}$, 1, 1) and that the rank of P is ${\lceil}\frac{b+7}{3}{\rceil}$ = k + 3. We then describe all the $\upsilon$-ideals from m to P as products of those simple $\upsilon$-ideals. In particular, we find the conductor ideal and the $\upsilon$-predecessor of the given ideal P in cases of b = 1, 2 and for b = 3k + 1, 3k + 2, 3k for $k\;{\geq}\;1$. We also find the value semigroup $\upsilon(R)$ of a satellite simple valuation ideal P of order 3 in terms of $b_{\upsilon}$.

• Environmental and Resource Economics Review
• /
• v.17 no.2
• /
• pp.327-347
• /
• 2008

This study proposes a new answering mechanism of deciding whether to purchase or not under uncertainty-real risk answering mechanism (R-RAM) for real transaction and hypothetical risk answering mechanism (H-RAM). It IS also. shown that the traditional answering mechanism (TAM) assumed in most of existing contingent valuation methods should be applied in a real transaction without uncertainty. While the willingness to pay (WTP) being simply compared with the bidding price m TAM, the mean of WTP should be greater than the bidding pnce at least by the risk premium for a purchase decision m R-RAM and H-RAM. Only difference between R-RAM and H-RAM is risk premium. The H-RAM takes a smaller risk premium than the R-RAM. This study proposes the contingent valuation method (CVM) with H-RAM could be an alternative to reducing the under-or over-estimation of WTP by comparing the WTP estimates obtained from three different CVMs with TAM, R-RAM and H-RAM.

• Journal of the Korea institute for structural maintenance and inspection
• /
• v.27 no.5
• /
• pp.57-66
• /
• 2023

Asset valuation of social infrastructure is essential for rational decision-making for efficient management of assets. In addition, it can be an indicator for correctly recognizing assets. In general, Korea applies depreciated replacement cost based on the straight-line method to evaluate asset value, yet this is unsuitable for evaluating actual value because it is depreciated at a constant rate over the useful life period. In order to evaluate the asset value considering the performance of the bridge, the performance index of the bridge is estimated using the Weibull distribution. Using the estimated performance indicators and defect index, a new asset value evaluation method is proposed and compared and analyzed with the existing method. The proposed valuation method can take into account the performance of the bridge, so it is judged to be more objective and reasonable than existing method.

• The Korean Journal of Financial Studies
• /
• v.6 no.1
• /
• pp.289-312
• /
• 2000

This paper proposes a pricing model for IPOs which can reconcile the average underpricing phenomenon with the expected wealth maximizing behaviors of market participants. Under the usual informational asymmetry, the optimal offer price for best efforts IPOs is derived as a function of the uncertainty about market's valuation, the expected return on proposed projects and the size of offerings relative to the firm's market value. Depending on these firm-specific characteristics, best efforts IPOs can be underpriced, fairly priced, or overpriced. Introducing the investment banker as an outside information producer, the model is extended to provide empirical implications for pricing and underwriting contract choice decisions which are consistent with the existing empirical evidences. The model predicts that the issuers with greater uncertainty about market's valuation choose best efforts contract over firm commitment contract and the dispersion of initial returns would be greater for best efforts IPOs than for firm commitment IPOs.