• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.237-250
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• 2022

On September 28, 2020, the Korea Fair Trade Commission introduced a proposed bill entitled the "Fair Online Platform Intermediary Transactions Act." We quantify the impact of this proposed act on Naver, Korea's major digital platform. Finding a proper control unit is not an easy task in social science studies. We overcome this caveat by constructing a synthetic version of Naver using Abadie & Gardeazabal's (2003) synthetic control method. It appears that the economic cost of the proposed act is not negligible at all. Naver's opportunity loss amounted to 16.18% of its market capitalization (approximately 8.5 trillion won in comparison with its pre-regulation market capitalization). Any regulation-based approaches to resolving digital platform issues have both promises and pitfalls. The results highlight that regulatory bodies should carefully gauge the impact of such regulations, as we have seen with Naver's case.

• Journal of the Korean Institute of Landscape Architecture
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• v.38 no.2
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• pp.25-36
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• 2010

The generally known important functions of forests include air purification and the health benefits that humans can receive when relaxing and enjoying recreation in the forests. In recent years, people have appreciated the value of the natural environment but it is not easy to answer the question how much monetary value a natural environment has. Because environmental property is public property, which is not traded on the market, market prices cannot be established, so it is not easy to assess the currency value. Methods for estimating environmental property value have been studied by economists. The representative method for measuring environmental property value is a contingent valuation method, or CVM. Various methods have been researched and attempted along with the development and fusion of mathematics, statistics, and economics. Representative methods of CVM are single-bound and double-bound logit and probit methods. This study has been carried out to compare four estimates. Estimates are as follows: the lowest estimate is derived from a single-bound logit WTPmedian while the highest estimate is from double-bound probit WTPmean. While there are some preceding studies on price estimation and methods of measurement through CVM, they offer only partial comparisons. This study suggests four analytic methods and prices through 1,123 questionnaires. The results can be used for the subsequent comparison of estimate prices and the methods of measurement

• Korean Journal of Environment and Ecology
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• v.28 no.1
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• pp.71-79
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• 2014

The goal of this study is to estimate economic benefit of restoring ecological stream of Hong Cheon river. The benefit is determined by estimating willingness-to-pay for the value of Hong Cheon river because it is a non-market good which is difficult to be measured in terms of monetary value. Specifically, the spike model, one of the contingent valuation methods, is used to distinguish respondents having zero willingness-to-pay for Hong Cheon river. The results show that a household located near the Hong Cheon river is willing to pay 3,300~4,628 Korean Won per year, while a household not located near the Hong Cheon river is willing to pay 1,308~2,929 Korean Won per year. Thus, total benefit of restoring ecological stream of Hong Cheon river is estimated as 97.6~216.3 billion Korean Won.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2014.06a
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• pp.73-75
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• 2014

Marine transportation facility is public goods for the general public and their safety. The study used the Contingent Valuation Method (CVM), a method to estimate economic value of non-market goods, such as environmental goods. In order to analyze economic effects of marine accidents preventable by the VTS, the study estimated costs caused by marine accident cases. It conducted surveys with people and shipping companies in local areas where VTS is to be established in the future. According to a survey with people in areas where marine transportation control center is to be built (Tongyoung), the yearly benefit from building new VTS is estimated at KRW 11billion. If fees are paid in the form of income tax for five years from 2014, corresponding benefits during the same period will reach KRW 47.3 billion in current value. An analysis on economic validity of VTS establishment in Tongyong showed the B/C ration stood at 3.193, far higher than 1. The Net Present Value (NPV) was KRW 32.5 billion and the Internal Rate of Return (IRR) turned out to be 37.4% which was higher than social discount rates of 53.5%. On balance, the establishment has reasonable economic validity.

• Journal of the Korea Computer Industry Society
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• v.6 no.2
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• pp.337-344
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• 2005

This research is a study on the model of the economic value measurement of Internet Business properties(especially security property) that will take considerable parts in ail transactions. The study can contribute to decide the priority of investment among several Internet Business properties and justify the cost for improving Internet Business elements. However the study have some research limits not to be analyzed by the empirical verification. Future research agenda includes the practical survey of WTP of Internet Business properties, and the practical availability of the proposed model. Especially, many problems will occur in the process of the empirical analysis, so additional works should be done in the future.

• Journal of Mushroom
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• v.8 no.1
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• pp.1-5
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• 2010

The multiple functions of mushrooms are production of antibiotics, fodder for animal stock, organic fertilizers, food nutrients, favorite food, physiologically active materials, and decomposing organic matters, and cleaning environmental pollutants. Of these first three functions were evaluated. The value of the muti-functions of mushrooms were estimated to be 112 trillion 922 one hundred million Won, and if non-evaluated ones added the estimation would be doubled. This value is similar to multi-functions value of rice, 100 trillion Won. Especially, the industrial value of antibiotics from B-glucans is estimated to be 112 trillion Won, while animal stock fodder value is 618 one hundred million Won, organic fertilizer 56 one hundred million Won and decomposer of ecology 360 one hundred million Won.

• Journal of Korean Library and Information Science Society
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• v.47 no.2
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• pp.305-328
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• 2016

This study is intended to check economic value of and factors influencing children's library. To this end, data on a total of 614 questionnaires to which parents among users of 6 children's libraries responded were collected. The results of analysis by contingent valuation method after selecting library fee per person as payment vehicle were as follows. First, willingness to pay was estimated to be a monthly average of KRW 9,243 per person. Second, it was shown that factors influencing willingness to pay included the frequency of utilization, satisfaction, the number of children per family, gender, age, and income and so on. Third, with regard to influence according to each factor, an additional unit in all the rest of factors except gender increased probability of willingness to pay such as the frequency of utilization(1.140), satisfaction(1.335), the number of children per family(1.417), age(1.124), income(2.426). On the other hand, in terms of gender, probability of willingness to pay was lower in female by 0.364 than in male. The implication of this study is that an interview is held with actual user and specific amount of money is presented regarding the economic value of children's library, which has been little known until now.

• Environmental and Resource Economics Review
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• v.30 no.1
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• pp.1-26
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• 2021

This paper aims to examine economic values of green spaces for non-Capital areas that have been rarely studied. Choice experiments were applied to two dissimilar but adjoining areas: The City of Jeonju and Wanju County. Split-sample surveys allowed to compare between apartment dwellers and single- or multi-family house dwellers, and across differing types of green spaces. According to the results, significant and substantial preferences might prevail not only for large cities, but also for agricultural areas. The mean willingness-to-pay (WTP) values of apartment dwellers for the view of a river/lake or mountain were generally smaller than those of Seoul, while the overall access values showed the opposite relationships. House dwellers in Jeonju showed substantially larger economic values for green spaces than those of the counterparts in Seoul, except for the access value of a river/lake. The findings grant follow-up studies investigating the reasons for the anomalous preferences particularly in Jeonju and identifying new management policies for non-Capital areas.

• Journal of Wetlands Research
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• v.20 no.2
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• pp.190-200
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• 2018

This study estimated the marginal production value based on the production function approach to confirm the economic value of industrial water supply projects. For this, we analyzed 4 data sets classified by 11 industry types according to Cobb-Douglas Function, Translog Function, and Translog function with sector dummy variables. As a result, the average industrial marginal product value of the entire industry was 3,217~5,357 won/ton, 2,994~4,569 won/ton and 3,620~5,342 won/ton, respectively. The results by industry type were the largest in furniture and other manufacturing industries and showed the lowest marginal production value in the textile and leather industries. Overall, the results from the Cobb-Douglas function were highly evaluated. And the volatility according to data sets was also analyzed in the Cobb-Douglas function. There have been few studies on the economic value of industrial water compared to domestic water. It is considered that multidisciplinary consensus will be needed through active research in the future.

• Journal of the Korean Institute of Landscape Architecture
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• v.37 no.5
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• pp.42-52
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• 2009

Recreational forests are catching on as places for personal development through recreation, association with people, education about nature, mind relaxation and spiritual peace. However, the value and significance of recreational forests with various functions are easily overlooked. Whoever pays fees for admission to facilities are able to enjoy fresh air, a comfortable environment, and space for rest. It should be taken into consideration whether the fee which customers pay is appropriate for the value of nature they are enjoying. This study is involved in giving the right recognition to the value of recreation and environment by estimating economically the value of the environment in which visitors stay, and presenting the appropriate price. The most efficient way to achieve this goal is through an economic approach, which suggests following established research skills and yielding suitable and accurate amounts of money. The environmental value of a recreational forests is estimated through contingent valuation method(CVM), which is chosen among several methods to estimate public facilities because the value of recreational forests has strong characteristics as public facilities which are not traded in the market. The annual recreation value per person of surveyed recreational forests is Willingness To Pay(WTP) with a mean between about 16,000 won and 25,400 won. The recreation value of one recreational forest surveyed is annually between approximately 1.7 billions won and 2.7 billions won. The annual recreation value of 85 national and public recreational forests is presumed to be between about 140 billions won and 230 billions won. The presumed amount of money is the environment in which visitors can enjoy whenever they invest some money and time. Indeed, it is more than that; it provides visitors with a greater sense of satisfaction and the recognition of the preciousness of nature and the environment.