• Korean Journal of Agricultural Science
• /
• v.30 no.1
• /
• pp.89-101
• /
• 2003

For the pre-feasibility study and project evaluation, the discount rate or cutoff rate should be given by the government authority. To get the Benefit/Cost Ratio, NPV(Net Present Value) and IRR(Internal Rate of Return) of the public investment projects, the pertinent and realistic discount rate should be determined to be suitable to the present time period. The cut-off rates in Korea were equivalent to 15% in 1970's, 10% in 1980's and 8% in 1990's. The prevailing rate of discount as 8% is considered not to be suitable for the 2000's public project appraisal considering the present interest rates on deposit and national bonds. To determine the socio-economic feasibility of the public projects, the IRR should be bigger than the present cutoff rate. When we still use the high old rate of discount, the analytical results of project appraisal will show always economically unfeasible. Therefore the new rate of discount suitable for present time should be determined by the government. The public projects to be implemented in 2000 year onward are recommended to be adapted 5% of cutoff rate for the project appraisal and evaluation according to the results of reviewing the tendency of discount rates and market rates of interest in Korea.

• Journal of the Korean Society of Manufacturing Technology Engineers
• /
• v.22 no.6
• /
• pp.921-930
• /
• 2013

From an economic perspective, an enterprise's business activity depends on the efficient use of corporate resources for generating profits. However, on the enterprise side, it is difficult to measure and evaluate the effective use of each resource. This paper suggests an alternative for eliminating process inefficiencies in the consolidation of competitive power in auto parts manufacturing company A. Multitudinous process variables from company A's raw materials-to-shipment process are configured as input resources, and a Data Envelopment Analysis(DEA) is carried out to determine economical benefit of said resources' operation, as well as how products are manufactured. The DEA model offers a non-parametric approach to measuring relative efficiency using input and output factors. Furthermore, AHP is used for logically deciding the importance of each evaluation factor. In general, DEA models have been used for measuring efficiency of the service and public sectors. However, this study focused on measuring the efficiency of SMEs production lines.

• Advances in Computational Design
• /
• v.3 no.2
• /
• pp.201-212
• /
• 2018

Decrease in availability of suitable subbase and base course materials for highway construction leads to a search for economic method of converting locally available troublesome soil to suitable one for highway construction. Present study insights on evaluation of benefits of stabilization of subgrade soils in term of extension in service life (TBR) and layer thickness reduction (LTR). Laboratory investigation consisting of Atterberg limit, Compaction, California Bearing Ratio, unconfined compressive strength and triaxial shear strength tests were carried out on two types of soil for varying percentages of stabilizers. Vertical compressive strains at the top of unstabilized and stabilized subgrade soils were found out by elastoplastic finite element analysis using commercial software ANSYS. The values of vertical compressive strains at the top of unstabilized and stabilized subgrade, were further used to estimate layer thickness reduction or extension in service life of the pavement due to stabilization. Finite element modeling of the flexible pavement layered structure provides modern technology and sophisticated characterization of materials that can be accommodated in the analysis and enhances the reliability for the prediction of pavement response for improved design methodology. If the pavement section is kept same for unstabilized and stabilized subgrade soils, pavement resting on lime, fly ash and fiber stabilized subgrade soil B will have service life 2.84, 1.84 and 1.67 times than that of unstabilized pavement respectively. The flexible pavement resting on stabilized subgrade is beneficial in reducing the construction material. Actual savings would depend on the option exercised by the designer for reducing the thickness of an individual layer.

• The Journal of the Korea Contents Association
• /
• v.20 no.2
• /
• pp.105-113
• /
• 2020

The development and application of cultural technologies(CT) are expected to lead to create various service scenarios and business models. Considering the wide range of application and extensibility of CT, it is necessary to design multidimensional evaluation methods for priority of the support of R&D budgets. The method should include the various evaluation criteria such as economic feasibility and user benefit of service made by a cultural technology. Our research addresses priority decision for fosterage of cultural technologies using fuzzy TOPSIS. Seven evaluation attributes are used to compare five specific technologies. Based on the results, service usefulness is the most important factor among the evaluation attributes. Also, technologies of computer graphics and UI/UX have higher priority than the others. We expect our research to help to provide guidelines for selection of promising cultural technologies which foster the culture and contents industry.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.20 no.12
• /
• pp.816-821
• /
• 2019

This study shows that it is reasonable for an R&D Information and Evaluation Center to have a building with the fifth floor above the ground and the second floor below the ground. A survey was conducted with 22,655 researchers who are registered in the NRF database. The researchers provided 883 responses. The results indicate that about 56% of the respondents positively support the construction of the NFR R&D Information and Evaluation Center. The survey results show that many respondents recognize that both evaluation and information integration functions among the NRF's roles are very important compared to other roles. The findings of the economic validity analysis support this statement. Based on the current demand for the construction of the R&D Information and Evaluation Center, this study investigates whether it is reasonable to build a new center in the available space while examining an environment focused on a physical work space and looking at significant results obtained through a cost-benefit analysis.

• Journal of the Korean Society of Environmental Restoration Technology
• /
• v.12 no.6
• /
• pp.112-122
• /
• 2009

Payment of Forest Landscape Service (PFLS) is based on the value of landscape conservation and is a positive forest policy inducing the owners of mountains to improve environmental service quality with economic incentives. The purpose of this study is to test the feasibility of PFLS and find out the elements related to PFLS such as associated statutes, target applications, eligible owner's requirements, and applicable environmental services. Research sites were selected in designated reserved forests by law and surveys were carried out with 28 professional forestry engineers and 10 owners of reserved forests located in Chungnam Province in November, 2008. As a result, the owners are willing to participate pilot-project of PFLS if they could have tax incentives. Preferred activities in their forestry are eco-tourism and carbon emission trading as PFLS business model. Although they expect low economic benefit from the PFLS, respondents answered introducing PFLS will give good opportunities for owners of a reserved forest to enhance willingness to manage their forestry properly for the landscape conservation. In this study, PFLS evaluation indicators and policy directions are established and recommends the strategies to cope with changing needs of forestry conservation by inducing the owners' active participation in the sustainable forest landscape management.

• Journal of Distribution Science
• /
• v.11 no.2
• /
• pp.57-70
• /
• 2013

Purpose - The objective of this paper is to explain the successful methods for the revitalization of distribution and logistics of the least developed FEZs (Saemangum, Yellow-sea, and Deagu-Kyengbuk) in Korea. With the recent changes in the economic terrain of Northeast Asia as with the rise of China, Korea has developed a logistics hub concept for improving the efficiency of logistics and distribution industry and its distribution and logistics policy has received positive worldwide evaluation. Therefore, we face severe competition and must always look for ways to address these problems. Research design, Data, Methodology - This study adopts two methods to propose successful revitalization of distribution and logistics in the least developed FEZ. The first method investigates the limitation of these FEZs by analyzing the statutes, and the second one follows comparable cases. Thus, we first reviewed the efficient strategic political alternatives for the least developed FEZ, Yellow-sea, Seamangum-Gunsan, and Deagu-Kyeongbuk, through the relative institution system, law, and future plans. Next, we studied the Bin-hai Economic Free Section (Zone) in China as a comparable example. In order to analyze the competitiveness of logistics in the three FEZs (Yellow-sea, Seamangum-Gunsan, and Deagu-Kyeongbuk), the total factor productivity growth of regional manufacturing industries is divided into three sources: the external trade effect, scale effect, and technical change effect. However, this paper does not test for a positive contribution of external trade, which is a reason of non-building on these FEZs. A FEZ that shows a larger external trade effect than the others will have a comparative advantage in the logistics infrastructure and policy support. This study presented the newly applied Bin-hai FEZ in China, in order to make the studied FEZ as successful by applying the strategy of its distribution and logistics center. Results - In Korea, there is an increased focus on the benefit of the regional development of regions such as the Free Economic Zones (FEZ). We have six FEZs, Inchon, Busan-Jinhae, Guangyang, Yellow-sea, Seamangum-Gunsan, and Deagu-Kyeongbuk. However, our FEZs do not have various supporting factors needed for the logistics and distribution industry. Korea designated the above six places as FEZ and has operated to enhance national competitiveness and ensure a balanced regional development since 2003. However, most FEZs did not receive favorable feedback in the first business performance evaluation and it is necessary to take action for substantial improvements. Conclusions - Especially, over the past 10 years, even though the FEZ policy has been implemented in an effort to promote success in distribution and logistics, there are still many underdeveloped industries in logistics. The main problem is the absence of revitalization of the high value added performance in the distribution and logistics industry. However, there is a limitation to this study. We have used non-empirical method based on a case study to arrive at our findings. Future studies should use appropriate statistical methods to supplement our results and provide a solution to this problem.

• Journal of Energy Engineering
• /
• v.16 no.4
• /
• pp.202-214
• /
• 2007

The concept of HSA (Home Service Aggregator) is derived from performing the energy IT business efficiently as well as successfully launcing a new service based on BPL (Broadband over Power Line). The HSA business using a BPL can extend the field of energy industry and an give a chance to create a new demand by consumer-oriented services. This study focuses on the exact evaluation of HSA business using BPL, and reasonable trusty evaluation should be the first step to launch the HSA business. In this study, the categories of cost are comprised of equipment (mainly RSM and MGW) cost, instalation cost, and maintenance cost. AMR (Automatic Meter Reading), internet integration billing service, integration charging service, internet service, sorority service, and electricity safety are listed for benefit. In this study, the ROI of HSA business is 0.9594, which is less than 1. However, that value does not consider the electricity safety benefit which is classified as a social benefit. Therefore, the value can be above 1 if it includes social and private benefits.

• Korean Journal of Poultry Science
• /
• v.21 no.1
• /
• pp.21-34
• /
• 1994

The objective of this study was to develop a user-friendly computer model for economic analysis on the commercial egg production that could help the egg farmer make managerial diagnosis and rational decision in the changing environment. To raise the adequacy of the model, the program was run for every sample and adjusted to fit the data. The model, programmed with Microsoft QuickBASIC, was a user-friendly computer program in supporting the Korean language. The basic analytical tool used in the study was an engineering-type computerized simulation model which incorporates a cost-benefit analysis of a full-time egg farmer. The computer model developed in this study may be the powerful analytical tool used to evaluate both a managerial decision whether to alter the production system and its impact on production, costs, revenue, and profits. Ultimately, the program is expected to enable the egg farmer to make managerial planning and diagnosis. The program can also calculate the values of economic variables at user-chosen incremental values of market eggs and feed prices. It provides the information on the profit and cost. This may lead the egg farmer, by allowing to establish the best managerial strategy, to increase the profit aor to lessen the cost. The results of this study could be utilized in the evaluation and improvement of the management. It also may be utilized for the researchers and guiding farmers in collecting and analyzing the data on the laying hen. In particular, such a program would be potentially useful to researchers who wish to quickly estimate profits associated with various laying hen treatments. The program could also benefit the egg farmer interested in making managerial decisions based on either current or predicted market conditions. The model would make the egg farmer respond actively to the information-oriented society by promoting to use personal computer.

• Resources Recycling
• /
• v.18 no.2
• /
• pp.62-68
• /
• 2009

Number of vehicles in Korea is gradually increasing and it exceeded 16 million in 2007. Holding of vehicles is connected to disposal, owing to this reason the importance of ELVs recycling has been emphasized. The recycling of ELVs makes the disposal of ELVs easier as well as protects environment and it has the alternative effect economizing the insufficient resource. This study was carried out to evaluate the economic effect of recycling of ELVs compared with disposal of ELVs. The analysis showed that recycling process makes a profit in comparison to the disposal of ELVs. Therefore the government has to consider establishing the regulation related to recycling of ELVs or materials and car manufactures have to develop the efficient dismantling and recycling methods.