• Journal of Korean Society of Industrial and Systems Engineering
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• v.44 no.1
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• pp.1-8
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• 2021

As a nation experiencing rapid economic growth, South Korea and its government have made a continuous effort toward efficient research investments to achieve transformation of the Korean industry for the fourth industrial revolution. To achieve the maximum effectiveness of the research investments, it is necessary to evaluate its funding's worth and default risk. Thus, incorporating the concepts of the Black-Scholes-Merton model and the Greeks, this study develops a default-risk evaluation model in the foundation of a system dynamics methodology. By utilizing the proposed model, this study estimates the monetary worth and the default risks of research funding in the public and private sectors of Information and Communication technologies, along with the sensitivity of the R&D economic worth of research funding to changes in a given parameter. This study finds that the public sector has more potential than the private sector in terms of monetary worth and that the default risks of three types of research funding are relatively high. Through a sensitivity analysis, the results indicate that uncertainty in volatility, operation period, and a risk-free interest rate has trivial impacts on the monetary worth of research funding, while volatility has large impacts on the default risk among the uncertain factors.

• Journal of the Korean Society of Environmental Restoration Technology
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• v.24 no.6
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• pp.97-107
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• 2021

Abnormal climate caused by climate change causes enormous social and economic damage. And such damage and its impact may vary depending on the location and regional characteristics of the region and the social and economic conditions of local residents. Therefore, it is necessary to continuously monitor whether there are indicators that are weaker than other regions among the detailed indicators that constitute the risk, exposure and vulnerability of climate change risk. In this study, the concept of climate change risk was used for heatwave to determine regional inequality of climate change risk. In other words, it was judged that inequality in climate change risk occurred in regions with high risk but high exposure and low vulnerability compared to other regions. As a result of the analysis, it was found that 13 local governments in Korea experienced regional inequality in climate change risk. In order to resolve regional inequality in climate change risks, the current status of regional inequality in climate change should be checked based on the analysis proposed in this study, there is a need for an evaluation and monitoring system that can provide appropriate feedback on areas where inequality has occurred. This continuous evaluation and monitoring-based feedback system is expected to be of great help in resolving regional inequality in climate change risks.

• Nuclear Engineering and Technology
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• v.54 no.5
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• pp.1874-1889
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• 2022

In this study, we evaluate the thermal-hydraulic performance and economics of Printed Circuit Heat Exchanger (PCHE) according to the channel types and associated shape variables for the design of recuperators with Sodium-cooled Fast Reactors (SFRs). To perform the evaluations with variables such as the Reynolds number, channel types, tube diameter, and shape variables, a code for the heat exchanger is developed and verified through a comparison with experimental results. Based on the code, the volume and pressure drop are calculated, and an economic assessment is conducted. The zigzag type, which has bending angle of 80° and a tube diameter of 1.9 mm, is the most economical channel type in a SFR using CO₂ as the working fluid. For a SFR using N₂, we recommend the airfoil type with vertical and horizontal numbers of 1.6 and 1.1, respectively. The airfoil type is superior when the mass flow rate is large because the operating cost changes significantly. When the mass flow rate is small, volume is a more important design parameter, therefore, the zigzag type is suitable. In addition, we conduct a sensitivity analysis based on the production cost of the PCHE to identify changes in optimal channel types.

• Explosives and Blasting
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• v.40 no.4
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• pp.47-56
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• 2022

It was designed as the mechanical excavation mass method on 176m because the safety thing is located around the site. But low-vibration blasting using an electronic detonator was proposed to improve constructability and economy. As a result of the suggestion blasting, both blasting noise and vibration were safe within the allowable limit, confirming the applicability of low-vibration blasting using an electronic detonator to the section. And compared with the mechanical mass excavation method, an economic evaluation was conducted about the section, and it was evaluated that there was an economic advantage as the construction period was reduced by 88 days.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.30-40
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• 2007

The demand for light-rail construction projects has recently been increasing, and they are mostly supervised by private construction companies. Therefore, a private construction company that aim to raise gains from the operation of the facilities during the contract period greater than what they invested should b able to accurately calculate the costs from the aspect of Life Cycle Cost (LCC). In particular, a light-rail transit bridge that has a heavier portion from the aspect of the cost of light-rail transit construction requires a more accurate calculation method than the conventional LCC calculation method. For this, an LCC analysis model was developed and a cost breakdown structure was suggested based on literature review. The construction costs by shape of the upper part of a light-rail transit were calculated based on the cost breakdown system presented in this paper, and the cost generation cycle and cost unit price were collected and analyzed based on records on maintenance costs, rehabilitation and replacement. In addition, after forming some hypotheses in order to perform the LCC analysis, economic evaluation was conducted from the aspect of the LCC by using performance data by item.

• The Journal of Economics, Marketing and Management
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• v.11 no.5
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• pp.57-67
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• 2023

Purpose: An evaluation of Uzbekistan's steps towards competitiveness for FDI globally is presented in this paper. Specifically, the purpose of this paper is to analyze the case of Uzbekistan, and to determine the strategies that can be implemented to increase the competitiveness in attracting foreign investment. Research design, data and methodology: To investigate the FDI environment and identify effective strategies, Global RPM and QSPM analyses were conducted in addition to in-depth interviews with experts. In particular, this study uses the method of Global RPM analysis to make a comprehensive evaluation and analysis on globalization, rationality, and professionalism and morality dimensions of FDI in Uzbekistan. Results: According to the analysis, the conditions of political situation, financial stability, legal frameworks, as well as economic environment of the country play a significant role in bringing in FDIs from abroad. Moreover, based on the results, Uzbekistan scored lowest on globalization, indicating that the country has a low level of integration and openness to the global economy and society. Conclusions: Uzbekistan can boost its productive capacity and GDP growth with FDI, but it has to overcome many structural and logistical obstacles. Furthermore, adhering to the chosen strategies, policymakers can leverage FDI to stimulate economic growth, leading to the generation of new jobs and expanded opportunities in Uzbekistan.

• New & Renewable Energy
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• v.20 no.1
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• pp.61-69
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• 2024

This study investigates the barriers to the deployment of solar thermal and ground source heat pump (GSHP) from the perspective of consumers and businesses, as well as evaluates priorities for improving the barriers via expert AHP evaluation. From a consumer's perspective, the overall satisfaction with solar thermal is significantly lower than that with PV and needs to be improved at the installation and use stages. GSHP needs to be improved at the prior-information search stage. From a business perspective, the non-distinction between heat and electricity in mandatory installations in public buildings, the difficulty in assessing the value of heat, and high initial costs impede the deployment. Based on the result of AHP analysis, the priorities for improving the barriers to the wide utilization of solar thermal are evaluated in the order of economic feasibility, policy, acceptability, and technology, where high installation cost is shown to be the greatest barrier. Barriers for GSHP are evaluated in the order of policy, acceptability, economic feasibility, and technology, where policy means improvement is evaluated as the most important factor in promoting the deployment of GSHP.

• Journal of Distribution Science
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• v.22 no.4
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• pp.115-126
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• 2024

Purpose: This study aims to explore the citizens' perceptions of the smart city distribution strategy and its impact on quality of life, classifying generations into two groups: Generation X with Baby Boomers, and Millennials with Generation Z. This study formulated research questionsto explore how both generational groups perceive the impact of smart city experience, government's role, technology development, economic, social, and environmental factors, and institutional improvement on quality of life. Additionally, this study explored the influence of quality of life on city evaluation, life satisfaction, and the expected growth of the city. Research design, data and methodology: This study employed an online survey conducted by well-known research organization. This study utilized factor and regression analysis for data analysis. Results: This study revealed that the impact of smart city experience, technology development and social value on quality of life demonstrated significance in both generational groups. Additionally, the study identified significant results regarding the influence of quality of life on city evaluation, life satisfaction, and the expected growth of the city. Conclusions: The findings suggest that, for the development of smart cities, stakeholders should particularly consider economic value and environment aspects, as these factors ultimately impact on quality of life.

• Journal of Labour Economics
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• v.37 no.1
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• pp.59-85
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• 2014

This paper analyses an impact of wage scheme and transparency of performance evaluation on the productivity. The main findings in this paper are as follows: First, the effect of wage scheme based on seniority system on the productivity is worse off than the performance pay. Second, there is a positive relationship between an incentive and the productivity, but, in the case of firms which individually informs the results of performance evaluation to their workers, it shows the hump-shaped relationship. Third, though the wage scheme is based on the performance, if the evaluation system is not transparent, the impact of incentive on the productivity is disappeared. Consequently, this paper implies that the appropriate incentive and the transparent performance evaluation system are required so as to improve the productivity.

• Journal of Environmental Science International
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• v.29 no.6
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• pp.643-658
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• 2020

Recent economic and income growth in Korea has caused people to seek healthier and happier lives. Forests are seen as spaces that provide tourism and recreation. The Korea forest service and local governments are developing and designating recreational forests but previous studies on the subject have only covered customer satisfaction and how forests are used. As such, the current study aims to find issues with designation criteria for recreational forests used by Gwangju city in Gyeonggi province and suggest improvements to the system. Site E was deemed the most adequate in evaluations of five candidate site. The criteria used in the evaluations were problematic due to (1) a lack of differentiating power in evaluation items, (2) blanket coverage of score ranges, (3) a lack of additional points for special sites, and (4) unclear evaluation indices. Based on the identified issues, the current study suggests introducing additional points and clearly detailing evaluation indices and items to enhance the evaluation of recreational forest candidate sites.