• Journal of the Korean Institute of Gas
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• v.16 no.3
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• pp.1-7
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• 2012

Natural gas through pipeline is supplied to consumers after its pressure gets down compulsorily. The waste pressure energy of this process can be restored by use of turbo expander which can produce electricity. So, turbo expander conducts two functions - pressure reduction and power generation. The power amount is the enthalpy difference between the inlet and outlet states. The five main factors which affect economic profit are facility price, produced power amount, pre-heating amount, electricity cost, and fuel gas cost. Power generation depends mainly on flow amount because inlet and outlet states are fixed. A methodology to estimate economy in irregular flow pattern is proposed and using this way, a case study was carried out.

• Journal of Preventive Medicine and Public Health
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• v.33 no.4
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• pp.484-494
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• 2000

Objective : To evaluate the relative benefits and the costs associated with the introduction of the new pharmaceutical provision called 'Mandatory Prescription System' which separates the role of physicians from that of pharmacists with respect to the prescription and dispensation of from the perspective of consumers (i.e., patients). Methods : The costs of the system were measured by considering both direct and indirect costs. Direct costs included additional payments for ambulatory care and dispensing fees that occurred under the new system. indirect costs consisted of transportation expenses and costs related to time spent for physician consultation, waiting for the prescriptions to be filled, and extra traveling. Benefits identified in this study were the reduction of drug misuse and overuse, and the overall decrease in drug consumption among the Korean population. Sensitivity analysis was peformed for the inclusion of benefits for outpatients of hospitals, price elasticity, and increased fees for established patients. Results : The net benefit was estimated to be about minus 1,862 billion won and the benefit-cost ratio was 0.478. This indicates that the costs of 'Mandatory Prescription' outweigh its benefits, relative to the previous system. The sensitivity analysis results for all the variables considered in this study consistently showed the benefit-cost ratio to be less than 1. Conclusion : The results of this study suggest that implementing Mandatory Prescription System in Korea might be inefficient from the consumer's perspective. The results of this study do not coincide with the results of previous studies, presumably because of the differences in study design and in which items of costs and benefits were considered.

• Journal of agriculture & life science
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• v.43 no.2
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• pp.55-63
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• 2009

This paper analyzes the effects of Korea-US FTA on the pork market in Korea. Without distinction of chilled and frozen pork, previous studies that investigate the impacts of FTA posit single category of pork. Moreover, many prior studies assume the domestic pork and imported one are homogenous. This study fills this gap. The simulated influences of Korea-US FTA on the price of domesitc pork are -2.69 to -15.96 percents. The FTA is simulated to result in the fall of domestic production by 1.35 to 5.6 percents.

• Journal of Korea Trade
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• v.25 no.1
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• pp.1-17
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• 2021

Purpose - The global trend of protectionism has expanded since the onset of US President Donald Trump's administration in 2017. This global phenomenon has led to a significant reduction in world trade volume and a negative impact on economic development in some countries where the external sector accounts for a large proportion of GDP. Although Korea is a country vulnerable to this deteriorating trade environment, few studies have examined the relationship between protectionism and its business cycles based on Korean data. Thus, this paper investigates the impact of protectionism on Korea's business cycle. Design/methodology - To identify future implications, we conduct a structural vector autoregression (VAR) analysis using monthly Korean data from 1994 to 2015. Macroeconomic variables in the model include the industrial production index, inflation rates, exports (or net exports), interest rates, and exchange rates. For the identification of the shock reflecting the expansion of protectionism, we use an antidumping investigation (ADI) data. Since ADIs are followed generally by the imposition of antidumping tariffs, they have no contemporaneous impact on tariffs and are also contemporaneously exogenous to other endogenous variables in the VAR model. We examine two kinds of ADI shocks i) shocks on Korean exports imposed by Korea's trading partners (ADI-imposed shocks) and ii) shocks on imports imposed by the Korean government (ADI-imposing shocks). Findings - We find that Korea's exports decline sharply due to ADI-imposed shocks; the lowest point at the third month after the initial shock; and do not recover until 24 months later. Simultaneously, the inflation rate decreases. Therefore, the ADI-imposed shock can be regarded as a negative shock on the demand curve where both production and price decrease. In contrast, the ADI-imposing shock generates a different response. The net exports decline, but the inflation rate increases. These can be seen as standard responses with respect to the negative shock on the supply curve. Originality/value - We shed light on the relationship between protectionism and Korea's economic fluctuations, which is rarely addressed in previous studies. We also consider the effects of both protective policy measures on imports to Korea imposed by the Korean government and on policy measures imposed by Korea's trading partner countries on its exports.

• Journal of Korea Port Economic Association
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• v.37 no.2
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• pp.55-71
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• 2021

While major alliance container carriers in the post-corona era are enjoying the largest boom in history with their fleet reduction strategy, shippers companies are in a state of deteriorating import and export price competitiveness due to increased logistics costs, and forwarders who act for shipping companies' logistics services are also experiencing the burden of rising freight rates It is in a state of overheated competition and worsening profits for attracting shippers. For this purpose, research data, literature studies, statistical data and data from overseas specialized networks were used as prior research. Online surveys and telephone interviews were conducted, and as a result, four areas of cold chain (including perishable cargo), project logistics, UN procurement logistics, and dangerous goods logistics, which were found to be particularly in high demand, were analyzed to suggest entry strategies.

• Journal of the Korean Society of Mineral and Energy Resources Engineers
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• v.55 no.6
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• pp.624-634
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• 2018

Indonesia has become a net crude oil importer because of the reduction of a new oil field discovery, and Indonesia is attempting to raise investment funds through the Kerja Sama Operasi (KSO) contract to develop a small-scale field. However, the KSO has a high-risk and low-return contract system for investors, necessitating an economic evaluation to examine the feasibility of the project. This study performed economic evaluation on the development of an Indonesian small-scale field by applying the KSO contract conditions, and identified the major economic parameters through a sensitivity analysis. As a result, the oil price, CAPEX and OPEX were identified as influential factors for economic evaluation. The results also indicate that commercial production in small-scale fields is difficult. In the future, this study can be used as a reference resource for investment in oil and gas development projects in Indonesia.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.42 no.3
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• pp.80-88
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• 2019

Recently, automobile manufacturing companies, which are major customers of them, are requiring IATF 16949 (ISO/TS 16949) certification as a mandatory requirement to secure product quality. In particular, IATF 16949 : 2016, revised in October 2016, was reinforced product traceability requirements for production information management by lot in the production process. Therefore, small and medium-sized precision parts processing companies in the automobile industry are very difficult to survive due to quality and price competition for customers satisfaction. MES (Manufacturing Execution System) is required to solve this problem. However, small and medium sized precision parts processing enterprises are reluctant to introduce the MES which is not suitable for the manufacturing environment of them such as high cost and low utilization. Even if the system is introduced, it is difficult to operate and maintain the system because the lack of computer manpower. In this paper, we propose a method for building a lot tracking system for small and medium precision parts processing companies by reviewing relevant literature and analyzing cases. In addition, by managing the production history for each lot of the final product in the system, we will grasp the effect of reducing the quality failure cost obtained by minimizing the range of defect selection.

• Korean Journal of Construction Engineering and Management
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• v.22 no.1
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• pp.90-97
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• 2021

Saemangeum Development is the largest national project in South Korea, which has been developed for an agricultural, economic and tourist area for 30 years from 1987. In order to convert power sources that used to depend on nuclear and thermal power to eco-friendly for carbon reduction, the government plans to construct a 2.1GW floating photovoltaic project by investing 4.6 trillion won, as a public-private project. For success of the Saemangeum floating photovoltaic project, economic feasibility should be checked. This study defined the factors (construction cost, electricity selling price, power generation and maintenance cost) that give a effect to the volatility of the floating photovoltaic payoffs, and analyzed the volatility of payoffs during 20 years operation period. NPV and option value of the project were calculated by applying an option to abandon. According to NPV analysis, it is determined that projects are difficult to invest. But this project has economic feasibility through real options analysis. This study is expected to help decision-makers in the economic analysis of floating photovoltaic projects by using the real options analysis.

• Journal of The Korean Society of Agricultural Engineers
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• v.63 no.4
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• pp.55-64
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• 2021

The expansion of upland crop cultivation in rice paddy fields is recommended by the Korean government to solve the problem of falling rice price and reduction of rice farmer's income due to oversupply of rice. However, water use efficiency is significantly influenced by the land use change from paddy field to upland. Therefore, this study aimed to evaluate the water budget of soybean grown in using APEX (Agricultural Policy and Environmental eXtender) model. The amount of runoff was measured in a test bed located in Iksan, Jeollabu-do and used to calibrate and validate the simulated runoff by APEX model. From 2019 to 2020, the water budget of soybean grown in uplands were estimated and compared with the one grown in paddy fields. The calibration result of AP EX model for runoff showed that R² (Coefficient of determination) and NSE (Nash-Sutcliffe efficiency) were 0.90 and 0.89, respectively. In addition, the validated results of R² and NSE were 0.81 and 0.62, respectively. The comparative study of each component in water budget showed that the amounts of evapotranspiration and percolation estimated by APEX model were 549.1 mm and 375.8mm, respectively. The direct runoff amount from upland was 390.1 mm, which was less than that from paddy fields. The average amount of irrigation water was 28.7 mm, which was very small compared to the one from paddy fields.

• Journal of The Korean Society of Agricultural Engineers
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• v.64 no.2
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• pp.85-96
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• 2022

The study is aimed to investigate the features and socio-economic background of farmland consolidation project with medium-sized paddy plot at irrigation associations during the Japanese colonial period in Korea. Most of farmland consolidation works in the 1940s was composed of independent irrigation and drainage ditches along the short side of field plot. However, the number of farm roads at farmland consolidation zone was much smaller than number of irrigation ditches to decrease reduction in farmland area. The standard field plot was medium-sized (about 20-40 ares) in Korea but small-sized (about 10 ares) in Japan in this period. As the result of farmland consolidation works, the unit water requirement was increased to 0.0035 m³/s/ha, and the unit area drainage discharge was over 2.0 m³/s/km² in many cases. The farmland consolidation with medium-sized plot have been spread under the colonial landlord system, where major landlords occupied a large share of farmland and managed corporate farming to gain more benefit. The reasons for spread of farmland consolidation with medium-sized plot may be as follows: high net profit ratio, an increase in land price, and labor savings in rice farming. The farmland consolidation with medium-sized plot in the colonial period showed intermediate features between the farm consolidation with small-sized plot for an increase in land productivity in Japan and the farm consolidation with medium-sized plot for an increase in labor productivity after the 1960s.