• Journal of Climate Change Research
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• v.3 no.4
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• pp.271-280
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• 2012

The study aims to analyze economic viability of Integrated Gasification Combined Cycle, an innovative technology to utilize clean coal effectively and efficiently in the era of energy crisis. The study is conducted to evaluate business value of 300 MW IGCC demonstration plant technology development based on binomial option, in consideration of uncertainty of fuel price. Binomial option is one of the real option valuation methods, which is ideally suited to irreversible decision making under uncertainty. With this analysis, it shows that investment value is higher compared with economic evaluation based on discounted cash flow, since this method can measure quantity. As a result, this study is proved to be economically feasible, which have a positive impact on the next generation of IGCC and the connection with Carbon Capture and Storage.

• The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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• v.29 no.2
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• pp.116-138
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• 2024

This study presents a new tool and protocol to assess the impact of 'Marine Invasive and Harmful Species' (MIHS) on marine environments and socio-economic aspects. It addresses shortcomings in the Marine Ecosystems Conservation and Management Act in South Korea by proposing an impact assessment framework divided into marine environmental and socio-economic groups. Six distinct evaluation categories are included in each group, and a semi-quantitative five-step scale is utilized to provide a flexible approach, addressing a variety of issues from ecological disturbances to effects on health and property. The assessment tool is applied through a systematic five-stage process based on the Delphi method. This approach posters collaboration among a diverse sets of experts and stakeholders, enabling a comprehensive evaluation that incorporates various perspectives. The study also examines strategies to effectively manage uncertainties and improve the consistency of the outcomes. The application of this assessment protocol is expected to be crucial in quantifying the ecological damage caused by MIHS and in identifying management and prevention priorities. The ultimate aim of this evaluation process is to aid decision-makers in developing strategies to preserve the marine ecosystem and mitigate socio-economic impacts.

• Journal of the Korean Institute of Gas
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• v.25 no.6
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• pp.74-79
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• 2021

This study analyzed the current status of the global hydrogen economy and the safety of energy sources currently in use due to the activation of the hydrogen economy. Understanding the hydrogen economy, identifying government policy trends, comparing and analyzing characteristics with existing energy sources such as gasoline, propane, and methane, and evaluating damage impact for each energy source using PHAST, a quantitative damage impact assessment program. Using the analysis results, this study analyzes the safety of hydrogen energy to revitalize the hydrogen economy and suggests ways to improve safety.

• Proceedings of the Korea Water Resources Association Conference
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• 2005.05b
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• pp.512-516
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• 2005

우리나라에서는 이제까지 치수사업의 타당성 분석시 경제성 분석에 너무 치우쳐 사업에 대한 의사결정과정이 단편적으로 진행되어 왔다. 이러한 문제를 개선하고자, 본 연구는 AHP(Analytic Hierarchy Process)과 효용함수(utility function)를 이용하여 대안의 수립, 평가, 선정, 우선순위 결정에 이르는 치수사업 의사결정과정을 모형화 하였다. 모형의 적용결과, 최선대안의 선정시 경제성 기준이 여전히 큰 비중을 차지하고 있었으나 단위 사업안의 투자우선순위 결정에는 위험성, 지속가능성 기준의 영향도 상당부분 있었다. 그러나 대안들 간에 변별력을 높이기 위해서는 경제성 이외 기준들의 속성에서 공간적 정밀도를 높이는 추가연구는 필요한 것으로 판단되었다. 본 연구는 치수사업 계획이 유역 내 단위사업안들로 조합된 대안들의 평가를 통해 이루어져야 한다는 점을 보여주고 있으며, 향후 점차로 유역단위의 치수계획이 정립됨에 따라 본 연구를 바탕으로 보다 구체적인 연구가 수행되리라 기대된다.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.23 no.9
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• pp.31-39
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• 2009

This paper shows prioritization process for equipment investment plans considering reliability indices and economical efficiency. To decide prioritization of distribution investment projects, we made a distribution system model using system configuration, it's component and load information and designed several investment alternatives to improve reliability of present system. Lastly, we proposed a evaluation model of economical efficiency assessment on distribution investment alternative projects. To analyze influence by reliability and economical efficiency, we produced economical effects with applying time-varying failure rate of KEPCO's main equipments of distribution system and interruption cost of electric power affected by investment. Finally, in order to insure the validity of this proposed methodology, we compared investment prioritization by economical evaluation with that of real investment alternatives of KEPCO's branch office. In conclusion, this paper shows what and how to interpret the reliability effects of distribution system investments into financial indicators beneficial for power utilities's managers to make decision on the perspective of corporate value.

• Korean Chemical Engineering Research
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• v.52 no.4
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• pp.503-515
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• 2014

A lot of existing wastewater treatment plants (WWTPs) are rebuilt or retrofitted for advanced wastewater treatment processes to cope with reinforced effluent criteria of nitrogen and phosphorous. Moreover, how to treat the wasted sludge from WWTPs has been also issued since the discharge of the wasted sludge into ocean is impossible from 2011 due to the London Convention 97 protocol. These trend changes of WWTPs get a motivation to assess environmental and economic impacts from the construction stage to the waste stage in WWTPs. Therefore, this study focuses on evaluation of environmental and economic impacts of the advanced wastewater treatment processes and waste sludge treatment process by using life cycle assessment. Four advanced wastewater treatment processes of Anaerobic/Anoxic/Oxic ($A_2O$), 5 stages-Bamard Denitrification Phosphate (Bardenpho), Virginia Initiative Plant (VIP), and Modified University of Cape Town (MUCT) are chosen to compare the conventional activated sludge (CAS) and three waste sludge treatment methods of land fill, incineration, and composting are used. To evaluate environmental and economic impacts of each advanced wastewater treatment processes, life cycle assessment (LCA) and life cycle cost (LCC) are conducted based on International organization for standardization (ISO) guidelines. The results clearly represent that the $A_2O$ process with composting shows 52% reduction in the environmental impact than the CAS process with landfill. On the other hand, the MUCT process with composting is able to save 62% of the life cycle cost comparing with the CAS process with landfill. This result suggested the qualitative and quantitative criteria for evaluating eco-environmental and economic technologies of advanced treatment processes and also sludge treatment method, where their main influence factors on environmental and economic impacts are analyzed, respectively. The proposed method could be useful for selecting the most efficient and eco-friendly wastewater treatment process and sludge treatment method when retrofitting the existing WWTPs to advanced treatments.

• Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology
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• v.7 no.1
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• pp.117-125
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• 2017

People believe that they make a rational decision. But the results of behavioral economics research show that people make a emotional decision at many times. The perception of fairness is one of the example in emotional decision. Sometimes people give up their monetary profit and revenge counterpart when they feel unfair. So the perception of fairness is very important. Two experiment was conducted. In experiment 1, researcher studied the effect of the pre-investment cost in perception of fairness. The result showed people who had pre-investment cost thought more unfair but were more likely to continue prior decision. In experiment 2, researcher studied the effect of type of CEO and message frame in perception of fairness. The results showed that people thought the proposal was more unfair when CEO was son of founder and message was gain and loss framing message.

• Journal of Korea Society of Industrial Information Systems
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• v.16 no.3
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• pp.121-135
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• 2011

We provide an economic evaluation model to help managers make reasonable decision for the investment in the appropriate type of cloud computing. Cloud computing can be classified into public, private and hybrid architecture and we evaluate their attractiveness using traditional NPV and real option methods. We conduct economic analysis by comparing traditional software delivery model with various types of cloud computing. The work compares each mode of cloud computing against each other using passive NPV and dynamic real-option method. For more objective and conservative evaluation of investment alternatives, we eliminate conventional benefits that are often subjective or hard to measure, and count only the reduction of investment cost and maintenance cost as benefit. We argue that hybrid and public cloud computing can be undervalued without their intrinsic options such as abandonment, expansion and contraction.

• Proceedings of the Korea Water Resources Association Conference
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• 2022.05a
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• pp.299-299
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• 2022

수문학적 가뭄 발생의 직접적 영향은 강수부족량이나, 다양한 사회경제적 인자들은 수문학적 가뭄에 간접적으로 영향을 미치고 있다. 물관리 선진기관에서는 인간의 활동 및 물관리 방식에 따라 수문학적 가뭄을 심화시키거나 완화시킬 수 있음을 인지하고, 인간의 물사용이 가뭄에 미치는 영향을 평가하기 위한 다양한 연구가 이루어지고 있다. 본 연구에서는 강수량 및 미래의 인구변화에 따른 수문학적 가뭄의 영향의 정도를 판단함으로써, 인간의 활동이 가뭄에 미치는 영향을 정량적으로 제시하고자 한다. 충정북도 시군지역을 대상지역으로 선정하였으며, 시군 장래인구 추정값을 미래 인구자료로, 미래 유출량이 산정되어 제공되는 RCP 4.5와 RCP 8.5시나리오를 활용하여 미래 가뭄상황 예측하였다. 강수량 및 인구변화가 수문학적 가뭄에 미치는 영향 평가를 위하여 코플라함수 기반의 베이지안 네트워크 모형이 활용하였다. 베이지안 네트워크는 강수량, 인구밀도, 수문학적 가뭄사이의 관계 도출을 위하여 활용되었으며, 베이지안 네트워크 내의 결합확률의 산정을 위하여 코플라 함수가 활용되었다. 미래의 강수량 및 인구밀도의 변화에 따른 수문학적 가뭄의 영향 관계를 분석한 결과는 다음과 같다. 강수량이 인구밀도보다 수문학적 가뭄의 발생에 영향을 미치며, 약 0.2~0.3 정도 발생확률이 크게 산정되었다. 두 인자를 동시에 고려할 경우, 강수량이 적고, 인구밀도가 높아지는 조건(F(강수량)=0.1, F(인구밀도)=0.9)에서는 조건부 CDF 변화율이 크게 나타나, 곧 수문학적 가뭄의 위험성이 높음을 확인할 수 있었다. 인구밀도는 수문학적 가뭄의 발생 위험성을 높이 알려져 있으나, 정량적으로 그 값을 제시한 연구 사례는 찾기 어렵다. 이에 따라 본 연구에서는 가뭄의 영향정도를 정량적으로 표현하였으며, 한 인자만의 영향이 아닌 두 개 이상의 인자들의 복합적인 영향 정도를 제시함으로써 수치적인 비교가 가능하게 하였다. 미래 추정 인자가 인구자료가 한정적이라 인구 자료만을 활용하여 수문학적 가뭄에 미치는 영향을 분석하였으나, 다른 사회경제적 지표를 활용하여 미래 변화에 따른 미래 수문학적 가뭄의 영향 정도의 비교 및 분석 결과를 바탕으로 가뭄 대응 우선순위 선정을 위한 연구자료로 활용 가능할 것으로 사료된다.

• Clean Technology
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• v.24 no.3
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• pp.166-174
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• 2018

Since particulate matter has high impacts on human health and everyday life, the dual fuel systems utilizing diesel and compressed natural gas have been developed to improve the environmental performance of diesel vehicles. The objective of this study is to estimate the economic feasibility of the dual fuel system based on real operating data of dual fuel buses and diesel buses. The system is economically feasible if the annual mileage of the dual bus is higher than 30,000 km, or if the unit fuel price of diesel is higher than that of CNG by 408 won. The uncertainty analysis results show that the economic feasibility of the system is probabilistically high, regardless of the variability of input data such as mileage and unit prices for the fuels. The sensitivity analysis results show that diesel and CNG prices are the highest contributor to the net present value of the system. Based on these results, economic incentives are suggested to disseminate the systems. This study would provide valuable economic information for bus business industry and policy maker to help make decisions for applying and disseminating the dual fuel systems to mitigate particulate matter problems.