• Environmental and Resource Economics Review
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• v.27 no.4
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• pp.639-666
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• 2018

This paper analyses the investment options of groundwater development project under water price uncertainty. The optimal investment threshold price which trigger the investment are calibrated base on monopolistic real options model. Stochastic dynamic model is set to reflect the uncertainty of water price which follows the GBM (Geometric Brownian Motion) process. Our finding from non-cooperative investment decision model is that uncertainty of water price could deter the groundwater investment by considering the existence of option values. For policy markers, it is easy to manage 'charges for utilization of groundwater' rather than 'performance guarantee ratio' when managing groundwater investment with pricing policy. And it is necessary to make comprehensive and well-designed policies considering the characteristics of regional groundwater reservoir and groundwater developers.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.1
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• pp.220-227
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• 2014

This paper introduces and applies the World Bank's methodology for constructing composite index or aggregating indicators. After recalculating the world competitiveness index of IMD using Unobserved Component Model(UCM) we compare it with the existing index and try to find some implications. We also try to construct the composite index for measuring the performance of local finance. We employ the Principal Component Analysis(PCA) for validating the appropriateness of selected indicators used in making the composite index. We found that the UCM and PCA are very useful and will be used widely in various evaluations such as regional development, local finance, local competitiveness and public enterprise, etc.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.3
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• pp.39-52
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• 2013

The main characteristic of technology commercialization by technology-intensive SMEs is that its success is highly uncertain due to the low maturities of their technology and market. Therefore, in order to find out more effective policy, it is essential to understand the technology commercialization in terms of the institutional support system including innovation policy, rather than an individual firm's strategy. Focusing on the Daeduk Innopolis, where many technology-intensive firms agglomerate, this paper explores SMEs' behavior for technology commercialization and the innovation system in the regional level. Then it points out the limitations and problems of the technology commercialization system in Daeduk innopolis, which might be closely related to the 'system failure' in the transition period. Based on the results of this innovation system approach, this paper also suggests some policy directions and agendas for overcoming those system failures in technology commercialization.

• Journal of Korean Neurosurgical Society
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• v.66 no.1
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• pp.63-71
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• 2023

Objective : Traumatic brain injury (TBI) is one of the most common injuries in patients with multiple trauma, and it associates with high post-traumatic mortality and morbidity. A trauma center was established to provide optimal treatment for patients with severe trauma. This study aimed to compare the treatment outcomes of patients with severe TBI between non-trauma and trauma centers based on data from the Korean Neuro-Trauma Data Bank System (KNTDBS). Methods : From January 2018 to June 2021, 1122 patients were enrolled in the KNTDBS study. Among them, 253 patients from non-traumatic centers and 253 from trauma centers were matched using propensity score analysis. We evaluated baseline characteristics, the time required from injury to hospital arrival, surgery-related factors, neuromonitoring, and outcomes. Results : The time from injury to hospital arrival was shorter in the non-trauma centers (110.2 vs. 176.1 minutes, p=0.012). The operation time was shorter in the trauma centers (156.7 vs. 128.1 minutes, p=0.003). Neuromonitoring was performed in nine patients (3.6%) in the non-trauma centers and 67 patients (26.5%) in the trauma centers (p<0.001). Mortality rates were lower in trauma centers than in non-trauma centers (58.5% vs. 47.0%, p=0.014). The average Glasgow coma scale (GCS) at discharge was higher in the trauma centers (4.3 vs. 5.7, p=0.011). For the Glasgow outcome scale-extended (GOSE) at discharge, the favorable outcome (GOSE 5-8) was 17.4% in the non-trauma centers and 27.3% in the trauma centers (p=0.014). Conclusion : This study showed lower mortality rates, higher GCS scores at discharge, and higher rates of favorable outcomes in trauma centers than in non-trauma centers. The regional trauma medical system seems to have a positive impact in treating patients with severe TBI.

• Journal of Korea Trade
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• v.26 no.4
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• pp.23-38
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• 2022

Purpose - This paper empirically explores the RCA of electrical equipment trade between China and Korea from the perspective of gross trade and value-added trade. The goal of this paper is to scan the electrical equipment's RCA, the decomposition of gross exports, and the impacts of an exerted shock. Design/methodology - We applied the domestic value-added method in measuring the RCA, which could be more accurate than traditional RCA since it excludes foreign value-added. Based on the research purpose, this paper follows the framework of Koopman, Wang, and Wei (2014)-as extended by Wang, Wei, and Zhu (2018). It extracts the data from the 2019 Multi-regional Input-Output (MRIO) databases compiled by the Asian Development Bank in January 2021. Findings - After rigorous examination, the main findings are as follows: First, the electrical equipment sector maintains a consistent comparative advantage in either assessing method. Second, China exports more gross goods of electrical equipment to the world than South Korea does, but there is a trade deficit with Korea. Third, South Korea and P.R. China are the most significant bilateral partners of foreign value-added sourcing. Finally, it is surprising that there is a shock on electrical equipment; the partner's service, as well as manufacturing sectors, would be affected. Originality/value - This paper explores the revealed comparative advantage between Korea and China from traditional gross export and value-added perspectives. Second, we apply the information from the 2019 MRIO database compiled by the Asian Development Bank in January 2021, reflecting the current situation. Third, this paper analyzes the electrical equipment and the impacts on other parties' sectors. Finally, we carry out the subjects that deserve to be investigated in the future.

• Journal of the Korean association of regional geographers
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• v.9 no.2
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• pp.203-216
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• 2003

The process of constructing coastal digital elevation model(DEM), for the 3 dimensional analysis, is composed by abstracting land layers for land elevation and water depth, reprojecting UTM, relocating geographical grid, and interpolating works. The geomorphic set of shallow sea, including tidal current, tidal zone deposition, and water depth distribution, was analyzed by eye search of Landsat TM image, masking of land zone, band combination and regression analysis. Some horizontal differences, between combined DEM and surveyed data of shallow sea, was corrected for analysis. Analyzed geomorphic elements are stream channel, alluvial fan, coastal terrace, tidal current. and shallow sea bank. Results of analysis present that transported fluvial materials influence tidal sedimentation, especially from Gahwacheon river, for the role of artificial draining flooding waters from Jinyang Reservoir, almost in the summer season. In the coastal area with less tidal current, more fine materials are deposited. The influence of currental deposition are higher on small pockets with west coast of well developed terraces. The lower skirt of alluvial fans developed into the tidal zone of shallow sea. Small pocket type bays are closed by coastal current, and less influenced from tidal deposition. The bank of Jinju Bay are developed originally from submerging of remnant erosional mountain ranges, and play on the role of trapping fine materials.

• Journal of the Korean association of regional geographers
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• v.19 no.2
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• pp.246-258
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• 2013

The relocation of the public institutions such as the provincial government attracts much attentions since it results in substantial regional economic impacts. In this context this paper analyzes the effects of relocation of Gyeongsangbuk-Do provincial government from Daegu city to Gyeongsangbuk-Do, which is scheduled for 2014, on Daegyeong economic region. Based on the interregional input-output model and I-O data which were provided by the Bank of Korea, this paper examines the multiplier effects of the relocation in terms of production, value added, and employment on Daegyeong economic region and other regions, except for the construction effects of the provincial capital. According to the analysis, the relocation is expected to reduce the production by 290million won, value added by 709million won, and employment by 571 persons in Daegyeong economic region. Also, the relocation turns out to decrease the production by 1,179million won and value added by 123million won of other regions. This paper discusses some policy implications of the analysis.

• Journal of the Economic Geographical Society of Korea
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• v.17 no.1
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• pp.129-146
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• 2014

This paper investigates how industrial diversity affects unemployment and employment instability from the perspective of the regional economy. Through this analysis, we examine how the industry-specific policy to promote some industry strategically in most of areas affects the stability of the regional economy. We measure Herfindahl indexes using the 1993-2010 data of 16 regions in Korea, and use panel regression model for empirical analysis. The main results from this empirical analysis are summarized as follows. First, we confirm that the industrial structure of most regions has been changed to the direction of specialization in 1990s and to the direction of diversification in 2000s through analyzing the changes in the values of Herfindahl indexes during the given period. Second, we find from the estimation results of panel regression model that the higher industrial diversity in most of regions is, the lower the unemployment rate is. However, a statistically significant relationship between industrial diversity and employment instability only partially confirmed. Third, there exist high unemployment rate and employment instability in most metropolitan areas, but it is hard to say that this relationship is highly statistically significant. From the results of the empirical analysis, it is likely that the industry-specific policies such as the regional strategic industry development policies unlike policy goals make the unemployment rate to rise and economic instability to increase. From the viewpoint of employment aspects, the strategies to increase industrial diversity would be desirable rather than those to specialize in the industrial structure.

• Korean Journal of Construction Engineering and Management
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• v.15 no.1
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• pp.28-38
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• 2014

Construction value engineering(VE) is often performed in the form of a short term review of designs, rather than during a regular workshop with a standardized work plan, and its application method is limited. Thus, tasks are performed by applying the method in reverse depending on the VE results, and function analysis, a key VE method, is omitted or only applied for the sake of formality. In addition, it is hard to expect great results from VE because of insufficient time and budget allowed to perform VE and a lack of understanding of VE procedures and methods. In particular, the methods used to store and reuse the tremendous amount of ideas and information created during the process of VE implementation is not systematic. Even the Korea Expressway Corporation, which has produced relatively systematic VE performance compared to other institutions, has had the above-mentioned problems. Therefore, this study aims to improve existing VE processes and suggest a method to efficiently store and retrieve VE information by analyzing the limitations of construction VE practice and the characteristics of VE for highway facilities as part of improving design VE performance.

• Journal of the Economic Geographical Society of Korea
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• v.14 no.4
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• pp.583-602
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• 2011

Based on the survey, this paper examines entrepreneurs' attitude toward corporate lending in Pusan region. The results show that the relationships of manufacturing firmswith banks are different from those of non-manufacturing firms. These are mainly due to the differences in the operational grounds between them. The non-manufacturing firms have their operational ground in Pusan, thus they have local banks as their mainbanks and depend heavily on mainbanks' credits. However the business network of the local banks is not broad enough to satisfy the manufacturing firms financial service needs. Therefore, the manufacturing firms maintain close relationship with not only regional local banks but also other banks. The results of the study demand the local banks to produce information of the regional firms and to monitor them more widely and tightly. One of the important contributions of this paper is that it has succeeded in making clear the importance of relationship banking of the local banks.