• Journal of Korean Society on Water Environment
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• v.26 no.4
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• pp.557-565
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• 2010

Recently, regulations on toxic compounds in aquatic environment have been strengthened in korea due to the increasing public awareness of the water quality. Typically, these regulations include introduction of emerging toxic compounds and stricter effluent limitations for the already regulated compounds. However, too strict regulations may cause excessive burden on the industry. Therefore it is also important to assess the economic impacts when the new effluent limitation guidelines are introduced. The estimation of the additional cost for the wastewater dischargers to meet the new guidelines are based on the selected treatment technology to handle the hazardous substances and the regulatory levels for effluent limitations. To explore the procedures for cost estimation in enforcing new effluent limitations, a case study was performed specially for 1,4-dichlorobenzene. The pollutants of concern are surveyed for different industrial categories and various treatment technologies. For a given pollutant, the general performances of the treatment technologies are surveyed and a representative technology is selected. For a given technology, the capital cost and annual Operation and Maintenance (O&M) cost was calculated. The calculation of baseline costs to operate ordinary treatment technologies is also important. The ratio between the cost for introducing new treatment process and the baseline cost required for conventional technology was used to evaluate the economic impact on the industry. For 1,4-dichlorobenzene, steam stripping and activated carbon processes were selected as the specific treatment technologies. The cost effects to the regulation of the compound were found to be 6.4% and 14.5% increase in capital cost and O&M cost, respectively, at the flow rate over $2,000m^3/d$ for the categories of synthetic resin and other plastics manufacturing industry. For the case of petrochemical basic compounds manufacturing industry, the cost increases were 5.8% and 12.4%, respectively. It was suggested that cost effect analysis to evaluate the economic impacts of new effluent limitations on the industry is crucial to establish more balanced and reasonable effluent limitations to manage the industrial wastewater containing emerging toxic compounds in the wastewater.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.11
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• pp.436-445
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• 2019

This study quantitatively evaluates the economic value of an intelligent crime-zero testbed by using the contingent valuation method (CVM), which is the most effective for non-market valuations in fields like crime prevention. To minimize hypothetical convenience and increase respondents' awareness regarding the actual situation, an analysis was conducted for Indukwon District, Anyang City, Gyeonggi-do, by using the intelligent crime prevention technologies and solutions being developed by the KICT Research Center. This analysis was aimed at providing a systematic basis for determining the feasibility of crime prevention-related public projects. As a result, the WTP of Anyang citizens in the intelligent crime prevention demonstration district was estimated to be 7,160 won. The analysis shows that the area of Gwanyang 2, where the test bed belongs, has a high economic value of KRW 660 million per year, and KRW 51.4 billion per year when expanded to Anyang City. This study is significant in that it provides the first domestic evaluation of the crime-zero testbed. In addition, it has academic and practical value for a future-oriented service model by using intelligent crime prevention technologies and solutions that can be applied in real life and to the crime-zero testbed.

• Economic and Environmental Geology
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• v.47 no.3
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• pp.237-246
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• 2014

In this study, it is estimated how many changes of macroeconomic variables are happened under the proposition of import substitution of mining products 1% using macroeconometric input-output model. For this, used macroeconometric input-output model is composed of 141 behavioral equations representing the macroeconomy structure. In general, macroeconometrics models are constructed mainly on the side of the expenditure then it is not easy to estimate the effects of the shocks occurred from industry level. To mitigate that, this study tries to construct a macroeconometric input-output model. Macroeconometrics model which is useful to estimate the effects of macroeconomic shocks, economic policy and more, in this study, is linked with input-output table through the NDI(national disposable income) derived from compensation of employee. And this paper presents the estimation results of import substitution effects of mining products on Korean economy. As a results, GDP is increased 0.00073%, gross labor employed 0.00029%, current balanace 0.00010% and unemployment rate is mitigated 0.00233%.

• Journal of Distribution Science
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• v.13 no.5
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• pp.71-82
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• 2015

Purpose - The purpose of this study is to investigate risk price implied from the pricing kernel of Korean stock distribution market. Recently, it is considered that the quantitative easing programs of major developed countries are contributing to a reduction in global uncertainty caused by the 2007~2009 financial crisis. If true, the risk premium as compensation for global systemic risk or economic uncertainty should show a decrease. We examine whether the risk price in the Korean stock distribution market has declined in recent years, and attempt to provide practical implications for investors to manage their portfolios more efficiently, as well as academic implications. Research design, data and methodology - To estimate the risk price, we adopt a non-parametric method; the minimum norm pricing kernel method under the LOP (Law of One Price) constraint. For the estimation, we use 17 industry sorted portfolios provided by the KRX (Korea Exchange). Additionally, the monthly returns of the 17 industry sorted portfolios, from July 2000 to June 2014, are utilized as data samples. We set 120 months (10 years) as the estimation window, and estimate the risk prices from July 2010 to June 2014 by month. Moreover, we analyze correlation between any of the two industry portfolios within the 17 industry portfolios to suggest further economic implications of the risk price we estimate. Results - According to our results, the risk price in the Korean stock distribution market shows a decline over the period of July 2010 to June 2014 with statistical significance. During the period of the declining risk price, the average correlation level between any of the two industry portfolios also shows a decrease, whereas the standard deviation of the average correlation shows an increase. The results imply that the amount of systematic risk in the Korea stock distribution market has decreased, whereas the amount of industry-specific risk has increased. It is one of the well known empirical results that correlation and uncertainty are positively correlated, therefore, the declining correlation may be the result of decreased global economic uncertainty. Meanwhile, less asset correlation enables investors to build portfolios with less systematic risk, therefore the investors require lower risk premiums for the efficient portfolio, resulting in the declining risk price. Conclusions - Our results may provide evidence of reduction in global systemic risk or economic uncertainty in the Korean stock distribution market. However, to defend the argument, further analysis should be done. For instance, the change of global uncertainty could be measured with funding costs in the global money market; subsequently, the relation between global uncertainty and the price of risk might be directly observable. In addition, as time goes by, observations of the risk price could be extended, enabling us to confirm the relation between the global uncertainty and the effect of quantitative easing. These topics are beyond our scope here, therefore we reserve them for future research.

• Korean Journal of Construction Engineering and Management
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• v.8 no.4
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• pp.73-80
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• 2007

As BTL(Build-Transfer-Lease) private investment business benchmarking PHI(Private Finance Initiative) of USA and Japan is introduces to Korea since 2005, as a part of supplying high leveled public service and early expanding required facilities for SOC, Value for Money on private investment business from treasury investment business at the beginning gets to be needed. Accordingly, this survey has been conducted in order to analyse BTL projects status, propriety of economic analysis method(VFM analysis, calculation of estimated business expenses, valuation of bidding price, etc.) by business advance phases from the viewpoint of person in charge, necessity of improvement and alternative plants. As the result of conducting cross tabulation analysis and correlation analysis by occupational group, BTL project advance phases and alternative plans for improvement, it is necessary ye prepare standardized service level against business expense and basis for calculating and evaluation operation expenses. Based on the necessity of quantitative analysis (LCC analysis) of VFM, standard for calculating management, maintenance and administration expenses is required. In addition, reliable economic valuation system considering domestic BTL environment should be setup, for business efficiency.

• Journal of agriculture & life science
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• v.44 no.2
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• pp.17-28
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• 2010

This study looked into how much maternal genetic effect influenced on economic traits through estimation of genetic parameter and heritability over swine's economic traits by maternal animal model using GGP farm examination data of total 31,455 swine of Duroc species, Landrace species and Yorkshire species that were born between 2000 and 2008. As a result of significance test over each factor in surveyed all traits, high significance was approved in the effect of breed, gender, the date of swine's birth, the season swine's born, and difference in delivery in every trait (p<0.01). It is considered that it would be possible to get more efficient improvement effect provided correlation between additive genetic effect and maternal genetic effect as well as maternal genetic effect according to breed, traits, and improvement direction are properly considered as negative covariance existed between additive genetic distribution and maternal genetic distribution presumed for traits by each breed and their genetic relation also showed mostly strong negative correlation.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.26 no.3B
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• pp.301-310
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• 2006

Typically, we needs enormous national budget for the flood control project and so the project usually has big influence on the national economy. Therefore, the reliable estimation of flood damage is the key issue for the economic analysis of the flood control project. This study aims to provide a GIS based technique for distributed flood damage estimation. We consider two aspects of engineering and economic sides, which are the inundation analysis and MD-FDA (Multi-Dimensional Flood Damage Analysis), for the flood damage assessment. We propose the analysis framework and data processing using GIS for assessing flood damages. The proposed methodology is applied to the flood control channel project for flood disaster prevention in Mokgamcheon/Dorimcheon streams and this study presents the detailed GIS database and the assessment results of flood damages. This study may have the worth in improving practical usability of MD-FDA and also providing research direction for combining economic side with the engineering aspect. Also this distributed technique will help decision-making in evaluating the feasibility of flood damage reduction programs for structural and nonstructural measures.

• Journal of Korea Technology Innovation Society
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• v.14 no.spc
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• pp.1096-1127
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• 2011

This research focus on estimating the economic effects of TOD system development from the perspective of new market creation, R&D planning cost reduction and increase of R&D projects' commercialization success rates. The research is conducted through simulation and scenario analysis with assumptions about economic effect parameters. Scenario analysis shows that scenario 1 (the application ratio of the new TOD system to total Korean R&D programs' planning is 1.4%) results in total economic effects, 921.3 billion won in 2011 price with B/C ratio 6.15, that scenario 2 (the application ratio is 1.9%) results in total economic effects, 1,250.3 billion won in 2011 price with B/C ratio 8.34, and that scenario 3 (the application ratio is 0.9%) results in total economic effects, 592.2 billion won in 2011 price with B/C ratio 3.95. The research contributed to the prior evaluation of economic validity of "R&D on Technology Opportunity Development (TOD) system" and to cultivating the new methodology of economic benefit estimation in the area of R&D on system development.

• Journal of Preventive Medicine and Public Health
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• v.29 no.4 s.55
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• pp.831-842
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• 1996

Demand for high quality medical care has recently been increasing in step with high level of income and education. Patients prefer the use of large general hospitals to small community hospitals. Large hospitals, usually located at urban area, expand their capacities to cope with the increasing demand, therefore, they easily secure revenue necessary for growth and development of hospitals. However, small community hospitals are facing with serious financial difficulties caused from the reduction of patients in one hand and the inflation of cost in another. If small rural hospitals were closed, the closure would have negative impacts on local economies in addition to the decrease in access to medical care. Community leaders should have an insight on the contribution of community hospitals to local economies. They could make a rational decision on the hospital closure only with the understanding of hospital's contribution to the community. This study is designed to develop an economic model to estimate the contribution of rural hospital to local economies, and also to apply this model with a specific hospital. The contribution of a hospital to local economies consists of two elements, direct effect and multiplier effects. The direct impacts include hospital's local purchasing power, employee's local purchasing power, and the consumption of patients coming from outside the community. The direct impact induces multiplication effect in the local economy. The seed money invested to other industries grows through economic activities in the region. This study estimated the direct effect with the data of expenditure of the case hospital. The total effect was calculated by multiplied the direct effect with a multiplier. The multiplier was drown from the ratio of marginal propensity of income and expenditure. Beside the estimation of the total impacts, the economic effect from the external resources was also analyzed by the use of the ratio of patients coming outside the region. The results are as follows. 1. The direct economic contribution of the hospital to the local economy is 1,104 million won. 2. The value of multiplier in the region is 2.976. 3. The total economic effect is 3,286 million won, and the multiplication effect is 2,182 million won. 4. The economic contribution from the external resources is 245 million won which is 7.5% of the total economic effect.

• KDI Journal of Economic Policy
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• v.31 no.1
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• pp.169-206
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• 2009

This study stems from a question, "How should we understand the pattern of the Korean economy after the 1990s?" Among various analytic methods applicable, this study chooses a Structural Vector Autoregression (SVAR) with long-run restrictions, identifies diverse impacts that gave rise to the current status of the Korean economy, and differentiates relative contributions of those impacts. To that end, SVAR is applied to four economic models; Blanchard and Quah (1989)'s 2-variable model, its 3-variable extensions, and the two other New Keynesian type linear models modified from Stock and Watson (2002). Especially, the latter two models are devised to reflect the recent transitions in the determination of foreign exchange rate (from a fixed rate regime to a flexible rate one) as well as the monetary policy rule (from aggregate targeting to inflation targeting). When organizing the assumed results in the form of impulse response and forecasting error variance decomposition, two common denominators are found as follows. First, changes in the rate of economic growth are mainly attributable to the impact on productivity, and such trend has grown strong since the 2000s, which indicates that Korea's economic growth since the 2000s has been closely associated with its potential growth rate. Second, the magnitude or consistency of impact responses tends to have subsided since the 2000s. Given Korea's high dependence on trade, it is possible that low interest rates, low inflation, steady growth, and the economic emergence of China as a world player have helped secure capital and demand for export and import, which therefore might reduced the impact of each sector on overall economic status. Despite the fact that a diverse mixture of models and impacts has been used for analysis, always two common findings are observed in the result. Therefore, it can be concluded that the decreased rate of economic growth of Korea since 2000 appears to be on the same track as the decrease in Korea's potential growth rate. The contents of this paper are constructed as follows: The second section observes the recent trend of the economic development of Korea and related Korean articles, which might help in clearly defining the scope and analytic methodology of this study. The third section provides an analysis model to be used in this study, which is Structural VAR as mentioned above. Variables used, estimation equations, and identification conditions of impacts are explained. The fourth section reports estimation results derived by the previously introduced model, and the fifth section concludes.