• Korean Journal of Construction Engineering and Management
• /
• v.18 no.3
• /
• pp.74-83
• /
• 2017

The recently introduced public rental housing REITs was just different the business structure from the existing public rental housing system and the basic supply system is the same. So the ownership conversion for public house over 10 years rental duration is possible after half of the obligated rental duration according to the agreement between lessor and lessee. However rental business operators are likely to have a negative attitude to the early ownership conversion because of less expected profit. Thus, there is a need for an analysis of proper early ownership conversion moment that can achieve public purposes while ensuring the profitability of public rental housing REITs. In this study, the characteristics of the ownership conversion rights that can lessee to exercise considered to be options. Also the nature of 'REITs', 'public rental housing REITs' is considered to be affected by the macroeconomic variables. Thus, this study analyzed the value for ownership conversion in the public rental housing REITs according to real option scenarios reflecting macroeconomic variables. As a result, according to the change of the variation rate of the macroeconomic variables, it was found that with adjustable early ownership conversion time using the DCF(Discounted Cash Flow) model. Therefore, it is possible to ensure profitability of early ownership conversion by predicting the variation of variables.

• Environmental and Resource Economics Review
• /
• v.31 no.4
• /
• pp.645-668
• /
• 2022

Hydrogen energy is emerging as an important means of carbon neutrality in the various sectors including power, transportation, storage, and industrial processes. Fuel cell power plants are the fastest spreading in the hydrogen ecosystem and are one of the key power sources among means of implementing carbon neutrality in 2050. However, high volatility in system marginal price (SMP) and renewable energy certificate (REC) prices, which affect the profits of fuel cell power plants, delay the investment timing and deployment. This study applied the real option methodology to analyze how the dual uncertainties in both SMP and REC prices affect the investment trigger price level in the irreversible investment decision of fuel cell power plants. The analysis is summarized into the following three. First, under the current Renewable Portfolio Standard (RPS), dual price uncertainties passed on to plant owners has significantly increased the investment trigger price relative to one under the deterministic price case. Second, reducing the volatility of REC price by half of the current level caused a significant drop in investment trigger prices and its investment trigger price is similar to one caused by offering one additional REC multiplier. Third, investment trigger price based on gray hydrogen and green hydrogen were analyzed along with the existing byproduct hydrogen-based fuel cells, and in the case of gray hydrogen, economic feasibility were narrowed significantly with green hydrogen when carbon costs were applied. The results of this study suggest that the current RPS system works as an obstacle to the deployment of fuel cell power plants, and policy that provides more stable revenue to plants is needed to build a more cost-effective and stable hydrogen ecosystem.

• The Journal of the Institute of Internet, Broadcasting and Communication
• /
• v.10 no.6
• /
• pp.317-324
• /
• 2010

This paper analyses the performance of push-pull strategy by Multicharts' portpolio tool. This strategy decreases a risk of option sell by moving an exercise price to outward and compensates the profit by doubling contracts. This strategy also makes risk-free option sell to move inward for earning gain. This strategy basically uses several symbols. And this feature makes impossible to use a portpolio tool. However, This paper provides the method to use it with extracting intrinsic data from a symbolname. As an experiment for one month of september experiment options, it shows 1.5 million won in case of 5-displace and also shows 32 million won in case of 2.5-displace. If a Margin is enough, this strategy always earns profit, but it's difficult to be applicated in real trades because of a margin risk.

• Tunnel and Underground Space
• /
• v.18 no.6
• /
• pp.447-456
• /
• 2008

Open-pit mine slope design must be carried out from the economical efficiency and stability point of view. The overall slope angle is the primary design variable because of limited support or reinforce options available. In this study, the slope angle and critical slope height of large coal mine located in Pasir, Kalimantan, Indonesia were determined from safety point of view. Failure time prediction based on the monitored displacement using inverse velocity was also conducted to make up fir the uncertainty of the slope design. From the study, critical slope height was calculated as $353{\sim}438m$ under safety factor guideline (SF>1.5) and $30^{\circ}$ overall slope angle but loom is recommended as a critical slope height considering the results of sensitivity analysis of strength parameters. The results of inverse velocity analysis also showed good agreement with field slope cases. Therefore, failure of unstable slope can be roughly detected before real slope failure.

• Earthquakes and Structures
• /
• v.6 no.1
• /
• pp.89-110
• /
• 2014

Nonlinear dynamic analyses are carried out to investigate the influence of the pinching hysteretic response of the exterior RC beam-column joints on the seismic behavior of multistory RC frame structures. The effect of the pinching on the local and global mechanisms of an 8-storey bare frame and an 8-storey pilotis type frame structure is evaluated. Further, an experimental data bank extracted from literature is used to acquire experimental experience of the range of the real levels that have to be considered for the pinching effect on the hysteretic response of the joints. Thus, three different cases for the hysteretic response of the joints are considered: (a) joints with strength and stiffness degradation characteristics but without pinching effect, (b) joints with strength degradation, stiffness degradation and low pinching effect and (c) joints with strength degradation, stiffness degradation and high pinching effect. For the simulation of the beam-column joints a special-purpose rotational spring element that incorporates the examined hysteretic options developed by the authors and implemented in a well-known nonlinear dynamic analysis program is employed for the analysis of the structural systems. The results of this study indicate that the effect of pinching on the local and global responses of the examined cases is not really significant at early stages of the seismic loading and especially in the cases when strength degradation in the core of exterior joint has occurred. Nevertheless in the cases when strength degradation does not occur in the joints the pinching may increase the demands for ductility and become critical for the columns at the base floor of the frame structures. Finally, as it was expected the ability for energy absorption was reduced due to pinching effect.

• Journal of the Korean Institute of Landscape Architecture
• /
• v.27 no.3
• /
• pp.98-108
• /
• 1999

The purpose of this research is to help outdoor space planning reflected real needs of apartment residents in the differentiation elements of outdoor space, by using USC trade-off game in three apartment complexes in Seoul. This game method was used to evaluate their preference, reliability of preference degree, satisfaction degree, requirement elements such as improvement, sacrifice, maintenance of present condition, and payment possibility for improving and maintaining present condition, in addition to their preference and payment possibility of differentiation of outdoor space in the apartment complex in the future. From the statical analysis, we found the following results: 1. Reliability of preference degree was valid, inasmuch as the first elements they preferred were the almost same as the last things. 2. Elements of preference were pedestrian ways, pedestrian security facilities, various athletic facilities, and variety and high-class facilities in a play ground. 3. Satisfaction degree of differentiation elements of outdoor space was low not only in total complexes but also in each complex. As a result of analysis, these elements were not satisfied with residents. 4. Most of the differentiation elements of outdoor space in three apartment complexes, except planting traditional trees, were required to improve and maintain present condition. The cost to improve and maintain these elements able to pay by them was about 2.18 million won. Through this result, these elements were not options but prerequisites for planning outdoor space in apartment complexes. 5. In the future preference elements of differentiation of outdoor space in apartment complexes were pedestrian and jogging ways, places with water, various athletic places and facilities, multi-function resting places, green spaces in experiences, pedestrian security facilities, various athletic facilities, variety and high-class facilities in a play ground, and payment possibility for these elements was about 3.20 million won.

• Asian Pacific Journal of Cancer Prevention
• /
• v.15 no.17
• /
• pp.7037-7041
• /
• 2014

Background: 5-Fluorouracil (5-FU) is the most commonly used drug in colon cancer therapy. However, despite impressive clinical responses initially, development of drug resistance to 5-Fu in human tumor cells is the primary cause of failure of chemotherapy. In this study, we established a 5-Fu-resistant human colon cancer cell line for comparative chemosensitivity studies. Materials and Methods: Real time PCR and Western blotting were used to determine gene expression levels. Cell viability was measured by MTT assay. Glucose uptake was assess using an Amplex Red Glucose/Glucose Oxidase assay kit. Results: We found that 5-Fu resistance was associated with the overexpression of Glut1 in colon cancer cells. 5-Fu treatment at low toxic concentration induced Glut1 expression. At the same time, upregulation of Glut1 was detected in 5-Fu resistant cells when compared with their parental cells. Importantly, inhibition of Glut1 by a specific inhibitor, WZB117, significantly increased the sensitivity of 5-Fu resistant cells to the drug. Conclusions: This study provides novel information for the future development of targeted therapies for the treatment of chemo-resistant colon cancer patients. In particular it demonstrated that Glut1 inhibitors such as WZB117 may be considered an additional treatment options for patients with 5-Fu resistant colon cancers.

• Proceedings of the Korea Contents Association Conference
• /
• 2005.11a
• /
• pp.210-218
• /
• 2005

Recently, customers can select various service providers using number portability according to given select options such as quality of service and fare organization. Therefore it is possible that subscriber maintenance and quality competition are converted to fare competition which is real competition concept. However, it is time that we need number portability between $2G{\rightarrow}3G$ for activating 3G services because some important issues are closed such as domestic number portability, WiBro service provider selection. In this paper, we proposed applying method and necessity of $2G{\rightarrow}3G$ number portability Also, we analyzed $2G{\rightarrow}3G$ number portability examples of domestic and foreign countries and domestic market situation about abstract of 3G mobile communication service and number portability introduction between $2G{\rightarrow}3G$ for 3G service activation appearing newly in this research.

• Transactions of the Korean Society of Mechanical Engineers B
• /
• v.36 no.8
• /
• pp.865-871
• /
• 2012

Because of the increasing cost of oil and natural gas, energy production technologies using coal, including synthetic natural gas (SNG) and integrated gasification combined cycle (IGCC), have attracted attention because of the relatively low cost of coal. During the early stage of a project, the developer or project owner has many options with regard to the selection of a gasifier. In particular, from the viewpoint of feasibility, the gasifier is a key factor in the economic evaluation. This study compares the technical aspects of gasifiers for a real SNG production project in an early stage. A fixed-bed slagging gasifier, wet-type entrained gasifier, and dry-type entrained gasifier, all of which have specific advantages, can be used for the SNG production project. Base on a comparison of the process descriptions and performances of each gasifier, this study presents a selection guideline for a gasifier for an SNG production project that will be beneficial to project developers and EPC (Engineering, Procurement, Construction) contractors.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.16 no.10
• /
• pp.6715-6721
• /
• 2015

Recently, DNA data of missing person, killed person, and missing child continue to increase but most of statistical calculation for paternity confirmation is being done through manual methods or Excel. Therefore, we need development of a software which is able to facilitate both systematic management and effective analysis of Short Tandem Repeat (STR) derived from DNA data. Without extensive testing, through a twenty-month study was developed a web-based system which performs paternity analysis and kinship analysis easily based on the various options. The former uses an existing algorithm for paternity index and the latter does Identity by descent (IBD) formula. Due to our system validated over real datasets in terms of likelihood ratio and probability of paternity, it ensures increased reliability as well as effective management and analysis of DNA data in mass disaster. In addition, it includes advanced features such as an integrated environment, user-centered interface, process automation and so on.