• Journal of the Korea Institute of Building Construction
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• v.10 no.6
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• pp.127-135
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• 2010

As logistics facilities have a high ceiling height, simple structure, and the need for a quick return on investment, it is usually essential to advance the construction schedule of such facilities. Accordingly, PC structures, which require less labor, cost and schedule, can be more competitive than RC structures. However, most construction companies in Korea are familiar with RC structure design, have negative perceptions regarding PC structures, and do not sufficiently adopt new construction techniques. The structure that this research features has 110 columns that are 14 m high and are built to the same specification, and applying an RC design to the structure will lead to issues related to constructibility, economic viability, project duration and safety. Therefore, this study intends to feature PC design as an alternative to the RC warehouse design, and perform a comparative analysis of the reduction in labor, cost and construction schedule to highlight benefits. The research outcomes herein will provide inputs to subsequent studies on new construction strategies to advance the construction schedule, improve quality and constructibility, enhance safety and save costs.

• Environmental and Resource Economics Review
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• v.31 no.2
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• pp.261-290
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• 2022

Although market stabilization measures have been triggered in the K-ETS, carbon price is still under uncertainty. Considering Korea's 2030 enhanced reduction target announced in October 2021, it is crucial to have practical stabilization measures to appropriately deal with price uncertainty. This study examines the quantitative effects of a price collar, which is considered as a means of alleviating price uncertainty, on expected cumulative emissions and abatement costs. There are three main scenarios: carbon tax, emissions trading system, and emissions trading system with a price collar. Monte Carlo simulation was conducted to reflect uncertainty in emission. There are several results as follows: 1) In a price collar, domestic emission target is likely to be achieved with a lower expected abatement cost than other scenarios. In addition, there is a small amount of excess emissions in this research and it would be not critical(0.1% excess than target); 2) Prohibiting banking increases the expected abatement cost. This is because firms can not intertemporally reallocate allowances to match the firm's optimal emissions path; 3) With the adoption of a price collar, government's net revenue can be positive even if the government's purchase volume of emissions allowances is more than sales volume. This is because the government sells them at price ceiling and purchases them at price floor.

• Economic Analysis
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• v.25 no.2
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• pp.1-53
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• 2019

This paper examines monetary policy quantitatively in a two-agent and small-scale New-Keynesian economy with debt-constrained households that cannot smooth their consumption intertemporally and frictionlessly since highly indebted households are not allowed to borrow above a certain debt ceiling in incomplete financial markets without additional risk premiums due to information asymmetry between savers and borrowers. We find that, in the event of cost shocks, the asymmetric responses of borrowing households without, and saving households with, dividend incomes lead to different labor supplies and consumptions over heterogeneous households, and eventually to an extension of the monetary policy transmission channels. The income effect and low elasticity of the labor supply play key roles in such asymmetric responses over heterogeneous households. We also find that the social welfare in a flexible inflation targeting (FIT) monetary policy, in which both the inflation gap and the output gap are considered in an integrated manner when policy-making, is similar to that of the Ramsey optimal monetary policy (ROP), in which the shares of debt-constrained households, as well as all economic states, including both the inflation gap and output gap, are considered comprehensively for policy-making, and that it is greater than that of simple inflation targeting (SIT) monetary policy, in which only the inflation gap is considered mechanically for policy-making. Such social welfare implies that a FIT policy may still work even in an economy with a sizable number of debt-constrained households. Further, the responses of cost shocks to consumption and labor supply are dying out more slowly under FIT and ROP policies than under an SIT policy.

• Journal of Korean Association for Spatial Structures
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• v.7 no.2 s.24
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• pp.97-104
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• 2007

Recently, the demand of the large span structures has been increasing. The large span structures include such a large scaled structures such as: the shell structure, the space frame structure, the membrane structure and the cable structure, etc. The large span structures are supposed to be confirmed and issued carefully at the initial process of the design besides the construction engineering aspects because of the structural specific cause that should solve and accomodate those large and wide space without columns. In the field of the large span structure construction, the erection construction method has been regarded as a major affected aspects on the construction cost, construction term, and stability. In the field of the large span structure construction, there are various construction method and system could be applied depends on the condition of the construction site and other circumstances such a major construction method as: the element method, the block method, the sliding method, the lift-up method and complexed method, etc. In this study, as the case study of the erection construction method of the large span structures, after survey and study that those existing large span structures construction cases which had applied and adopted the election construction method and analysis and classify into the Uoups by the size, span, ceiling height, structural system in odor to supply and suggest the data for the enhancement and development in the field of the erection construction method as a efficient structural solution of the large span structure construction.

• The Journal of Korea Institute of Information, Electronics, and Communication Technology
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• v.9 no.3
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• pp.285-290
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• 2016

In rural area, our farmers confront decreasing benefits owing to imported crops and increased cost. Recently, the government encourage the 6th Industry that merges farming, rural resources, and information and communication technology. Therefor the government makes an investment in supplying 'smart greenhouse' in which a farmer monitor growing crops and environment information to control growing condition. The objective of this study is developing an Moving Monitor and Control System for crops in green House. This system includes a movable sensing unit, a controlling unit, and a server PC unit. The movable sensing unit contains high resolution IP camera, temperature and humidity sensor and WiFi repeater. It rolls on a rail hanging beneath the ceiling of a green house. The controlling unit contains embedded PC, PLC module, WiFi router, and BLDC motor to drive the movable sensing unit. And the server PC unit contains a integrated farm management software and home pages and databases in which the images of crops and environment informations. The movable sensing unit moves widely in a green house and gathers lots of information. The server saves these informations and provides them to customers with the direct commercing web page. This system will help farmers to control house environment and sales their crops in online market. Eventually It will be helpful for farmers to increase their benefits.

• KDI Journal of Economic Policy
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• v.14 no.2
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• pp.109-153
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• 1992

This paper estimates a translog cost function for the Korea's banking industry and derives various implications on the prospect for the Korean banking structure in the future based on the estimated efficiency indicators for the banking sector. The Korean banking industry is permitted to operate trust business to the full extent and the security business to a limited extent, while it is formally subjected to the strict, specialized banking system. Security underwriting and investment businesses are allowed in a very limited extent only for stocks and bonds of maturity longer than three year and only up to 100 percent of the bank paid-in capital. Until the end of 1991, the ceiling was only up to 25 percent of the total balance of the demand deposits. However, they are prohibited from the security brokerage business. While the in-house integration of security businesses with the traditional business of deposit and commercial lending is restrictively regulated as such, Korean banks can enter the security business by establishing subsidiaries in the industry. This paper, therefore, estimates the efficiency indicators as well as the cost functions, identifying the in-house integrated trust business and security investment business as important banking activities, for various cases where both the production and the intermediation function approaches in modelling the financial intermediaries are separately applied, and the banking businesses of deposit, lending and security investment as one group and the trust businesses as another group are separately and integrally analyzed. The estimation results of the efficiency indicators for various cases are summarized in Table 1 and Table 2. First, security businesses exhibit economies of scale but also economies of scope with traditional banking activities, which implies that in-house integration of the banking and security businesses may not be a nonoptimal banking structure. Therefore, this result further implies that the transformation of Korea's banking system from the current, specialized system to the universal banking system will not impede the improvement of the banking industry's efficiency. Second, the lending businesses turn out to be subjected to diseconomies of scale, while exhibiting unclear evidence for economies of scope. In sum, it implies potential efficiency gain of the continued in-house integration of the lending activity. Third, the continued integration of the trust businesses seems to contribute to improving the efficiency of the banking businesses, since the trust businesses exhibit economies of scope. Fourth, deposit services and fee-based activities, such as foreign exchange and credit card businesses, exhibit economies of scale but constant returns to scope, which implies, the possibility of separating those businesses from other banking and trust activities. The recent trend of the credit card business being operated separately from other banking activities by an independent identity in Korea as well as in the global banking market seems to be consistent with this finding. Then, how can the possibility of separating deposit services from the remaining activities be interpreted? If one insists a strict definition of commercial banking that is confined to deposit and commercial lending activities, separating the deposit service will suggest a resolution or a disappearance of banking, itself. Recently, however, there has been a suggestion that separating banks' deposit and lending activities by allowing a depository institution which specialize in deposit taking and investing deposit fund only in the safest securities such as government securities to administer the deposit activity will alleviate the risk of a bank run. This method, in turn, will help improve the safety of the payment system (Robert E. Litan, What should Banks Do? Washington, D.C., The Brookings Institution, 1987). In this context, the possibility of separating the deposit activity will imply that a new type of depository institution will arise naturally without contradicting the efficiency of the banking businesses, as the size of the banking market grows in the future. Moreover, it is also interesting to see additional evidences confirming this statement that deposit taking and security business are cost complementarity but deposit taking and lending businesses are cost substitute (see Table 2 for cost complementarity relationship in Korea's banking industry). Finally, it has been observed that the Korea's banking industry is lacking in the characteristics of natural monopoly. Therefore, it may not be optimal to encourage the merger and acquisition in the banking industry only for the purpose of improving the efficiency.