• Journal of the Korea Furniture Society
• /
• v.29 no.1
• /
• pp.8-17
• /
• 2018

Economic crisis in 2008 has changed South Korean market including furniture related field. Owing to Subprime Mortgage Crisis, new economic order, in other words, New Normal was established. Low growth rate, low interest, high unemployment rate, high risks, regulation strengthening, and all that sort of negative things have became generalized. South Korean economy has developed drastically since the Korean War, however recent economic crisis and Internet and smart phone have leading roles in shaping new consumption market. In a way, furniture market has expanded despite economic recession. Total service for housing is suited to South Korean consumers and shortened Product Life Cycle induces consumers to buy more furniture. In addition, Internet and smart phone allow people to show off their private spaces to unspecified masses. As a result, consumer prefers inexpensive and expendable furniture. It is certain that furniture market makes quantitative growth, but qualitative sides are questionable. Even though the study is focused on the existent circumstances, It will help to find out the proper ways of future furniture market in South Korea.

• International Journal of Highway Engineering
• /
• v.18 no.4
• /
• pp.19-28
• /
• 2016

PURPOSES : Long-life asphalt pavements are used widely in developed countries. In order to be able to devise an effective maintenance strategy for such pavements, in this study, we evaluated the performance of the long-life asphalt pavements constructed along the national highways in South Korea. Further, an economic evaluation of the long-life asphalt pavements was performed based on a life-cycle cost analysis. We aimed to devise a model for evaluating the performance of long-life asphalt pavements using the national highway pavement management system (PMS) database as well as for analyzing the economic feasibility of such pavements, in order to promote their use in South Korea. METHODS : The maintenance history and pavement performance data were obtained from the national highway PMS database. The pavement performances for a total of 292 sections of 10 lanes (5 northbound lanes and 5 eastbound lanes) of national highways were used in this study. Models to predict the performances of hot mix asphalt (HMA) and long-life asphalt pavements under two distinct traffic conditions were developed using a simple regression method. Further, the economic feasibility of long-life asphalt pavements was evaluated using the Korea Pavement Management System (KoPMS). RESULTS : We developed service-life prediction models based on the traffic volume and the equivalent of single-axle load and found that long-life asphalt pavements have service lives 50% longer than those of HMA pavements. Further, the results of the economic analysis showed that long-life asphalt pavements are superior in terms of various economic indexes, including user cost, delay cost, total cost, and user benefits, even though their maintenance cost is higher than that of HMA pavements. A comparison of the economic feasibilities of the various groups showed that group A is superior to HMA pavements in all aspects except in terms of the maintenance criterion (crack 20% or higher) as per the NPV index. However, the long-life asphalt pavements in group B were superior in terms of the maintenance criterion (crack 25% or higher) regardless of the economic feasibility. CONCLUSIONS : The service life of long-life asphalt pavements was found to be approximately 50% longer than that of HMA pavements, regardless of the traffic volume characteristics. The economic feasibility of long-life asphalt pavements was evaluated based on the KoPMS. The results of the economic analysis were the following: long-life asphalt pavements are exceptional in terms of almost all factors, such as user cost, delay cost, total cost, and user benefit; however, the exception is the maintenance cost. Further, the economic feasibility of the long-life asphalt pavements in group B was found to be better than that of the HMA pavements (crack 25% or higher).

• Proceedings of the Korean Institute of Building Construction Conference
• /
• 2010.05a
• /
• pp.235-236
• /
• 2010

Since many structures in the sea environment are damaged by chloride, appropriate repair strategy is required. Therefore in the paper, optimum period for the RC structure's repair is calculated with consideration of economic efficiency. Moreover, when the concrete members are repaired with the other material such as polymer mortar forr section restoration, their expected service life also calculated to predict more accurate repair period during the life span.

• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.18 no.36
• /
• pp.341-348
• /
• 1995

The AHP is a good methodology for the multicriterion decision-making process such as nuclear fuel cycle technology selection, which requires consideration of international circumstances, social factors, economic factors as well as technological factors. This paper presents the prioritization of technologies using AHP at back-end fuel cycle development strategy and it would be useful for the national nuclear development planners.

• Journal of the Economic Geographical Society of Korea
• /
• v.16 no.4
• /
• pp.567-584
• /
• 2013

This study aims to explore an evolutionary path of the IT service industry in Fairfax County using the Cluster Adaptive Cycle model in economic geography. The analysis is based on detailed historical and industrial information obtained through a variety of data sources including local archival materials, economic census, and interviews. This study also performs a shift-share analysis during the period of 1990 to 2011. Using the adaptive cycle model, the local IT service industry is indicated by a trajectory of constant cluster mutation. The evolution of the local IT service industry has been closely related to federal government policy due to the regional specificity of the National Capital Region and the proximity of the Department of Defense. Although the economic downturn of the late 2000s, the local IT service industry has been notable resilience and adapted to a changing market and technological environment. This constant mutation of the local industry is resulted from not only high resilience which is based on the large government procurement market, the reinforcement of adaptive capacity of the local firms and the network of economic agents such as firm and supporting institutions, but also high flexibility of the knowledge-based service industry to a changing business environment.

• Korean Journal of Construction Engineering and Management
• /
• v.8 no.3
• /
• pp.168-176
• /
• 2007

This study aims to provide useful information when making a decision for the environmental and economic efficiency assessment of infrastructure, based on Life Cycle Assessment(LCA). It estimates environmental cost on environmental pollutants that are possible to happen by locations and by types of emergency spillway for korean multipurpose dam, which is selected as a study case. For this purpose, this study examines the theories of LCA and Contingent Valuation Method(CVM) and suggests an analysis model of environmental cost. To apply the suggested analysis model of environmental cost for infrastructure to the case study of emergency spillway at the multipurpose dam, this study calculates environmental load on environmental pollutants that generate during life cycle, converts it to a cost to predict environmental cost, evaluates environmental economy of emergency spillway by the estimated result, and draws the optimum alternative that is environmental-friendly and economic.

• Plant Journal
• /
• v.18 no.1
• /
• pp.43-49
• /
• 2022

In this study, the operational characteristics of the 7.48 MW fuel cell power plant consisting of 17 units of 440 kW Phosphoric Acid Fuel Cell (PAFC) in operation since its commercial operation in December 2017 were explained and the heat recovery process of the plat using Organic Rankine Cycle (ORC)was simulated. The fuel cell system performance improvement and economic assessment were analyzed by calculating the amount of heat recovery and electric power available when connecting a 125 kW XLT Model ORC for hot water heat sources with 105℃, 40.8 t/h. The result of the study shows that integrating the 125 kW ORC to PAFC power plant would improve generating efficiency by about 0.6% through annually 851,472 kWh of electricity produced by ORC, and fuel cell and ORC integrated systems were calculated to have a 0.35% higher Internal Return Ratio and more Net Present Value of 1,249 million KRW than not installing ORC despite installation costs.

• International conference on construction engineering and project management
• /
• 2009.05a
• /
• pp.669-675
• /
• 2009

As the use of new and renewable energy is one of the ways by which the exhaustion of fossil fuels and the other existing environmental problems can be addressed, a policy of spreading information regarding it and of conducting R&D related to it is currently being implemented in advanced countries. In the construction field, the concept of "green building" was born, and the application of this concept has increased, with the end in view of achieving energy savings, resource savings, and recycling, and of conserving the natural environment. In this context, the government of Korea amended the "Law on the Development, Use, and Promotion of New and Recycled Energy" in 2004, which contains 11 provisions related to new and renewable energy and their sources, including solar and geothermal energy as well as sunlight, water, rainfall, and organisms. Since solar-energy should be used instead of fossil fuels by converting sunlight directly into electricity, many researches on this subject are in progress. There are few researches, however, employing the economic approach to the subject. Thus, in this study, an economic assessment of the solar-energy system was conducted using both life cycle cost (LCC) analysis and sensitivity analysis. The results of the LCC analysis show that the solar-energy system will become economically better than the fossil fuel system after 16 years, although the initial construction cost of the solar-energy system is higher than that of the fossil fuel system. The results of this study are expected to be used in selecting an eco-friendly and economical solar-energy system when the construction of a green building is planned.

• Journal of the Korean Data and Information Science Society
• /
• v.26 no.6
• /
• pp.1377-1386
• /
• 2015

GDP gap is closely related with economic activity of a country as a whole, especially with the economic fluctuations which is called business cycle. GDP gap is regarded as an important variable for the monetary policy of the central bank because it provides information on the excess demand pressures and employment matters. However, GDP gap may not provide enough information of the effect of recent economic structural change or the environmental change of domestic and external economic condition. In this paper, the GDP is decomposed by statistical filtering techniques and various models are fitted to estimate the influence of GDP gap on Inflation and see if it has been changed. Analysis results show that the influence of GDP gap on inflation decreased in the 2000s while that of global GDP gap increased. These results also support that recent low inflation rate is due to the change of overseas economic condition, such as a slowdown in exports resulting from the global recession, as well as domestic factors.

• Journal of the Korean Statistical Society
• /
• v.8 no.2
• /
• pp.139-163
• /
• 1979

Utilization of the aggregation concept applied in economics has been a traditional way of describing the state of an economic system and of predicting the future economic conditions. In addition, certain aggregate variables have also played a crucial role as indicators of the business cycle. Quick examples would be the price index, the productivity changes, the industrial production index, GNP, and so on. The methods of aggregation could be either simple summations, like GNP, or sophisticated weighted average, like the price index.