• Korean Journal of Agricultural Science
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• v.29 no.1
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• pp.66-83
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• 2002

The economic feasibility analysis including benefit-cost ratio and internal rate of return of a land consolidation and on-farm development project was mainly depended upon the direct benefits and costs arising during project life. Therefore the projects were neglected in allocating the government's financial funds and loans on account of the low economic rate of return of the project. Accordingly the extended benefit-cost analysis method should be introduced and adapted to cover not only the benefit s such as non-market values of environmental and food security fun ct ions of the project but also market values of the project outputs. The main purposes of this study are (1) to prepare a guide line for economic feasibility analysis based on the IBRD and ADB guidelines, (2) to estimate the benefits from productivity increase, labor saving, savings of O&M cost of farm mechanization and project facilities, savings of farmer's burden for their public health, increasing environmental and public functional value of paddy fields, improving food security condition and formation of peaceful and uncontroversial rural society by implementing the land consolidation and on-farm development, (3) to introduce the newly adapted analytical method as the extended benefit cost analysis which could make possible to be included the values of non-market goods such as the food security and the environmental public function of paddy fields. To carry out this study, the existing publications on the guidelines for economic agricultural projects were reviewed and consultation was made with a For the post evaluation study of the land consolidation and on-farm development project, field survey in Jigok and other comparative area were made to get available information. According to the project completion report, Jigok land consolidation and on-farm development project has 55ha of benefit area out of 69ha of gross area. The project was started in November 11th, 2000 and completed october 30th, 2001. The total project costs were amounted to 2,548 million won and the annual project benefits were estimated at 335million won evaluated by domestic market prices. The ERR(Economic Rate of Return) and SRR(Social Rate of Return) of the project based on the shadow pricing system were estimated at 4.4% and 16% respectively. On the other hand, the ERR and SRR based on the domestic market value system were amounted to 6.37% and 14.62%. In conclusion, Korean land consolidation and on-farm development projects have not carried out from the view point of economic rate of return under shadow pricing system but from the view point of domestic pricing system. For the future feasibility studies on land consolidation projects have to be carried out including the non-market values as environmental and food security function of the projects.

• The Journal of Fisheries Business Administration
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• v.44 no.3
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• pp.29-46
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• 2013

The purpose of this study is to evaluate the economic validity of artificial reefs facilities and seeds release programs in Jeju Trial Sea Farm Project for raising fishing people's revenue. The results of this study show the artificial reefs facilities and seeds release programs have net present value of 15,962.63 million won, internal rate of retrurn 13.86%, and benefit-cost of 1.912 under a 5.5% social discount rate. This suggests that in Jeju trial sea farm project, artificial reefs facilities and seeds release programs increase fisherperson's revenue.

• Journal of Preventive Medicine and Public Health
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• v.27 no.2 s.46
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• pp.337-365
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• 1994

Rubella is a viral disease with mild constitutional symptoms and generalized rashes. In childhood, it is an inconsequential illness, but when it occurs during early pregnant period, there are significant risks of heart defects, cataract, mental retardation to the fetus. The series of congenital defects induced by rubella is called 'congenital rubella syndrome'. Many research have been performed to find out more effective prevention program on rubella. The objectives of this study are, first, to calculate the incidence rate of acute rubella infection and congenital rubella syndrome in Korea, second, to evaluate economic efficiency of several rubella vaccination policies and to offer data for the most reasonable decision on vaccination policy. Study populations are 663,312 children of one year-old in 1992. The author has performed cost-benefit analyses according to the three vaccination policies-U.S.A.'s. U.K.'s and Sweden's. In this Study, the author got the incidence rate of acute rubella infection using the catalytic model. In the meantime, the author used 50 per 100,000 live births as the incidence rate of congenital rubella syndrome. The discount rate used in this study was 5 percent per annum. The sensitivity analyses were done with different discount rates (4%, 7%) and different incidence rate of congenital rubella syndrome (10,100 per 100,000 live births) : The study results are as follows: 1. Without vaccination, lifetime expenditures per patient for acute rubella infeciton amount to 14,822 won and the total expenditures to about 3.1 billion won. Meanwhile, lifetime expenditures per patient for congenital rubella syndrome amount to about 91 million won and the total expenditures to about 16.3 billion won without vaccination. 2. The cost of vaccination for a child of one year old was 2,322 won and the total cost for the one year old children was about 1.5 billion won (American style). The cost for vaccination of female children at fifteen was about 339 million won (Birtish style). And the cost of vaccination at one for both sex and female children at fifteen was about 1.9 billion won (Swedish style). 3. The benefit to cost ratios of vaccination of female children at fifteen that is the british mode of rubella vaccination, was 60.0 at the level of 80% population coverage and 48.6 at 100% coverage. It shows much higher benefit to cost ratio than those of the other two vaccination policies. 4. Both net benefits of vaccination at one (American style) and that of vaccinations at one and fifteen (Swedish style) range from about 17.0 billion to 17.8 billion won, those were larger than that of vaccinations of female children at fifteen (Birtish style, about 16.0 billion). 5. In marginal cost-benefit analysis of only additional program of revaccination, the benefit to cost ratios were 3.6 (80% coverage rate) or 0.6 (100% coverage rate). It implies that additional program was less efficient or inefficient. 6. In sensitivity analysis with different discount rates(4% or 7%) and different incidence rates of congenital rubella syndrome (10 or 100 per 100,000 live births), the benefit to cost ratios has fluctuated in wide range. However, all the ratios of vaccination of female children at fifteen were higher than those of the others. Even under the most conservative assumption, the benefit to cost ratios of all the rubella vaccination policies were higher than 3.3. In conclusion, all the rubella vaccination policies found to be cost-effective and particularly the vaccination of female children at fifteen was strongly recommended.

• Health Policy and Management
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• v.28 no.1
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• pp.77-86
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• 2018

Background: The purpose of this study is to emphasize the importance and necessity of the government's old-age preparation service by measuring the economic value of the old-age service and the policy direction and policy implications of the government's old-age preparation service project. Methods: Contingent Valuation Method (CVM) was used as an analytical method. CV methodology was used to calculate the Willingness to pay (WTP) for old-age preparation service and its value was estimated and the economic benefit of the project was estimated. Results: As a result of the analysis, the average monthly payment amount for the old service was calculated as 5,100 won, and the annual average payment amount was estimated to be 61,197.1 won. Conclusion: The present value of the benefit for 10 years with the discount rate of 5.5% is 484,651 won. Based on the value of peruser benefit, the total benefit value calculation result of the old-age preparation service considering the Willingness to pay for the next 10 years shows that the total benefit value of the old service, which occurs during the period from 2016 to 2025(10 years) was estimated at 415.1 billion won. As a result of calculating the benefit for each scenario, the present value of basic service is higher in all scenarios than the linked service.

• Journal of the Korean Society of Child Welfare
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• no.36
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• pp.65-99
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• 2011

The main purpose of this study is to analyze the relationship between child poverty rate and family policy expenditure of welfare states (focusing on OECD countries). We analyzed not only the total social & family policy expenditures but the components of the family policy expenditure. OECD SOCX and calculated data from the LIS & OECD data were utilized for child and family policy expenditures and the poverty rate. One-way correlation and cluster analysis were employed for the analysis. The analytic results are as follows: Southern European and Anglo-Saxon countries' child poverty rates were higher and Scandinavian countries' child poverty rates were lower than any other clusters. The countries with high child poverty rate had higher child poverty rate than the entire nation's poverty rate, but Scandinavian countries' child poverty rate was lower. There was a strong correlation between family policy expenditure and child poverty rate. Especially the service expenditure and leave benefit expenditure were highly correlated with child poverty rate. On the other hand, cash expenditure was not significantly correlated with child poverty rate. We can suggest the policy implications from these results. Based on the analytic results, policy implications that the government should increase the family policy budget, especially the budget for family services and leave benefit to decrease child poverty rate and should make effort to support the employment of parents through policies such as active labor market strategies can be suggested.

• 한국사회정책
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• v.19 no.3
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• pp.247-281
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• 2012

This study investigates issues, which the current disability benefit of the national pension Scheme is facing, and seeks improvements concerning the universalism of coverage, the adequacy of benefit levels, and the equity of institution. The low universalism problem is caused by the coverage deficits and the strict disability assessment system of NPS and can be overcome by widening the disability category and changing the disability assessment system to workability test. In addition, the benefit level of the disability pension will be reduced stronger than the old age benefit in the long. The low benefit level due to the short contribution period and the low disbursement rate and can be improved by the enhancement of the standard contribution years and the disbursement rate. On the other hand, the main reason of the equality problem can be seen as the requirements for benefit, which are applied differently depending on the membership status. As policy measures, the unification of requirement on the basis of a recent payment, a payment in a certain percentage of life, or a hybrid of both criteria is investigated.

• Korean Journal of Social Welfare
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• v.41
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• pp.43-67
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• 2000

The main source in financing the National Pension benefits is the contribution raised from the insured's earnings. So, Most of the insured take a great interest in the questions of what return on the payment of contribution National Pension benefits provide and whether there be the difference in return according to earnings level. The Purpose of this study is to assess money's worth of National Pension and to answer the above questions. There are two basic types of money worth analysis, empirical and hopothetical. This study basically belongs to the former in terms that it is based on actual earnings and insured term. For performing money's worth analysis, four different measures which are referred as the "break-even period", the "benefit/tax ratio", the "net lifetime transfer", the "internal rate of return" are used and they all involve the way in which the relationship between the present value of contributions and the present values of benefit is present. The results which evaluate average money's worth of accrued rights before 1999 are le as follows. Break-even period is about 43 months, benefit/tax ratio being 4.9, net lifetime transfers being about 37 mil1ion won, internal rate of return being 33.2%. This verifies that money' worth of National Pension is much higher than actuarially fair. In the mean while, money' worth is proved to be very different according to earnings level. The progressivity relationship between earnings level and rate of return is found in all measures but net lifetime transfer.

• Journal of the Korean Society of Clothing and Textiles
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• v.39 no.1
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• pp.30-42
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• 2015

This study examined: 1) the effects of fashion luxury product price discounts in social commerce on perceived benefit and purchase intention, and 2) differences in such effects by social commerce trust, brand and design preferences for luxury products as well as social commerce and online luxury product purchase experiences. Three discount rates representing high, mid, and low for a luxury product sold in social commerce were manipulated and tested on female consumers and 486 online responses were analyzed. The results revealed that the price discount affected perceived benefit but did not affect purchase intention. Benefits were highly perceived at high and mid discount rates compared to the low rate. Social commerce trust, brand preference, and design preference affected perceived benefit and purchase intention, but the interaction effect with price discount was observed only in the design preference to perceived benefit. The purchase experience of online luxury products also affected purchase intention. Implications from the results were also discussed.

• Journal of Navigation and Port Research
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• v.31 no.10
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• pp.819-824
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• 2007

This paper studied safety benefit of operation-effectiveness analysis on marine traffic safety facilities. In the operation-effectiveness of marine traffic safety facilities the benefits can be divided as safety benefit, transport benefit, and other benefit. Safety benefit was produced as the loss aversion cost of marine traffic caused by the reduction of marine accidents after establishing and operating marine traffic safety facilities. First of all the reduction rate marine accidents was estimated to do it, and the detail model of loss aversion cost was constructed Then each variable in the model was defined and the method of computation presented.

• Journal of Korean Society of Occupational and Environmental Hygiene
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• v.25 no.2
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• pp.134-145
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• 2015

Objectives: An objective of this study was to perform a risk assessment and social cost-benefit analysis for revising permissible exposure limits for seven substances: Nickel(Insoluble inorganic compounds), benzene, carbon disulfide, formaldehyde, cadmium(as compounds), trichloroethylene, touluene-2,4-diisocyanate. Materials and Methods: The research methods were divided into risk and hazard assessment and cost-benefit analysis. The risk and hazard assessment for the seven substances consists of four steps: An overview of GHS MSDS(1st), review of document of ACGIH's TLVs (2nd), comparison between international occupational exposure limits and domestic permissible exposure limits(3rd), and analysis of excess workplace and excess rate for occupational exposure limits based on previous work environment measurement data(4th). Total cost was estimated using cost of local exhaust ventilation, number of excess workplace and penalties for exceeding a permissible exposure limit. On the other hand, total benefit was calculated using the reduction rate of occupational disease, number of workplaces treating each substance and industrial accident compensation. Finally, the net benefit was calculated by subtracting total cost from total benefit. Results: All the substances investigated in this study were classified by CMR(Carcinogens, Mutagens or Reproductive toxicants) and their international occupational exposure limits were stricter than the domestic permissible exposure limits. As a result of excess rate analysis, trichloroethylene was the highest at 11%, whereas nickel was the lowest at 0.5%. The excess rates of all substances except for trichloroethylene were observed at less than 10%. Among the seven substances, the total cost was highest for trichloroethylene and lowest for carbon disulfide. The benefits for the seven substances were higher than costs estimated based on strengthening current permissible exposure limits. Thus, revising the permissible exposure limits of the seven substances was determined to be acceptable from a social perspective. Conclusions: The final revised permissible exposure limits suggested for the seven substances are as follows: $0.2mg/m^3$ for nickel, 0.5 ppm(TWA) and 2.5 ppm(STEL) for benzene, 1 ppm(TWA) for carbon disulfide, $0.01mg/m^3$(TWA) for cadmium, 10 ppm(TWA) and 25 ppm(STEL) for trichloroethylene, 0.3 ppm(TWA) for formaldehyde, and 0.005 ppm(TWA) and 0.02 ppm(STEL) for toluene diisocynate(isomers).