• KDI Journal of Economic Policy
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• v.35 no.4
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• pp.31-61
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• 2013

The purpose of this study is to calculate the economic value of transport demand forecasting risks in the road PPP project. Under the assumption that volatility of the road PPP project value occurs only in regard with uncertainty of traffic volume forecasting, this study calculates the economic value of the traffic forecasting risks in the case of the road PPP project. To that end, forecasted traffic volume is assumed to be a stochastic variable and to follow the Geometric Brownian motion as time passes. In particular, this study attempts to differentiate itself from existing studies that simply use an arbitrary assumption by presenting the application of different traffic volume growth volatility and the rates before and after the ramp-up period. Analysis of the case projects reveals that the risk premium related to traffic volume forecast of the project turns out as 7.39~8.30%, without considering option value-such as minimum revenue guarantee-while the project value volatility caused by transport demand forecasting risks is 17.11%. As the discount rate grows higher, the project value volatility tends to decrease and volatility in project value is always suggested to be larger than that in transport volume influenced by leverage effect due to fixed expenditure. The market value of transport demand forecasting risk-calculated using the project value volatility and risk premium-is analyzed to be between 0.42~0.50, implying that a 1% increase or decrease in the transport amount volatility would lead to a 0.42~0.50% increase or decrease in risk premium of the project.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.615-618
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• 2008

From the 2006 report of Korea Foundation for the Promotion of Private school(KFPP), Private college account for 97% and private university account for 79% of the all college in country. The report shows that private college invest in educational facilities about 200 million won every year. But the standard of investment analysis which is for the private business of private college is not arranged, private college could not make progress the business. Accordingly the research is suggested "eligibility analysis method theory" that is a basic to make decision. At first in case of Quantitative VFM analysis, we suggest alternative analysis & progress procedure in analysis step. And in case of qualitative VFM analysis, we developed 15 items of analysis which is made with professional interviews.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2017.11a
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• pp.1401-1413
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• 2017

신약개발은 많은 투자비와 시간이 필요하면서도 성공률이 낮아 위험성이 높은 분야로, 국내 제약 기업의 투자 역량과 인력이 부족하여 민간 R&D 투자만으로는 한계가 있다. 현재 바이오 분야 중 신약 분야에 가장 많은 정부 R&D 예산이 투입되고 있으나, 특정 단계가 아닌 신약 개발 단계 전주기에 걸쳐 지원하고 있기 때문에 투입 예산을 효율적으로 활용하여 성과를 창출하기 위해서는 투자 현황에 대한 분석이 필요하다. 본 연구에서는 정부 R&D 사업 중 신약개발 과제를 대상으로 신약개발 단계, 의약품 종류, 대상 질환을 기준으로 정부 R&D 투자 현황을 분석하고자 한다. 이는 향후 신약 분야의 경제적 성과 창출을 위한 정부의 투자 방향과 전략 수립에 활용 가능할 것이다.

• Food Science and Industry
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• v.53 no.4
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• pp.410-421
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• 2020

Regarding a long-term strategic plan in the food and agriculture sector, R&D policies and investment trends in major overseas countries are reviewel. The importance of efficient resource management is emphasized along with continuous government support for R&D in the agri-food industry. In response to facing social issues such as climate change, food security, food safety, health, and environment, research and innovation agenda is mainly focused on harmony between economy and environment, human nutrition and health as well as animal and plant health, and an integrated ecosystem approach. Particularly in the food sector, public investment is generally made in food safety, nutrition and health, and private investment for food processing and manufacturing. Public-private collaboration is carried out in order to enhance the efficiency of R&D innovation and development strategies in the agri-food industry.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.42 no.6
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• pp.887-892
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• 2022

Due to various reasons (normally financial constraints in developing countries), it becomes common to change of the business model from state-run projects to Private Investment Projects (Public Private Partnership) in the global railway businesses. However, due to the nature of railroads compared with other types of infrastructure such as roads and others, railway business require considerable construction cost and O&M cost through the business development, construction, and operation and management stages. Therefore, private investment railway projects, especially in developing countries, can be problematic in terms of the potential for uncertainty when return on investment cannot be guaranteed. In order to strengthen the competitiveness of domestic companies when entering overseas railroad PPP projects, this study proposes PPP-related risks and their countermeasures by reviewing global railroad trends and identifying Korea's weakness in managing international railroad projects.

• Journal of Korea Technology Innovation Society
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• v.12 no.4
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• pp.788-818
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• 2009

Renewable energy refers to solar energy, biomass energy, hydrogen energy, wind power, fuel cell, coal liquefaction and vaporization, marine energy, waste energy, and liquidity fuel made out of byproduct of geothermal heat, hydrogen and coal; it excludes energy based on coal, oil, nuclear energy and natural gas. Developed countries have recognized the importance of these energies and thus have set the mid to long term plans to develop and commercialize the technology and supported them with drastic political and financial measures. Considering the growing recognition to the field, it is necessary to analysis up-to-now achievement of the government's related projects, in the standards of type of renewable energy, management of sectional goals, and its commercialization. Korean government is chiefly following suit the USA and British policies of developing and distributing renewable energy. However, unlike Japan which is in the lead role in solar rays industry, it still lacks in state-directed support, participation of enterprises and social recognition. The research regarding renewable energy has mainly examinedthe state of supply of each technology and suitability of specific region for applying the technology. The evaluation shows that the research has been focused on supply and demand of renewable as well as general energy and solution for the enhancement of supply capacity in certain area. However, in-depth study for commercialization and the increase of capacity in industry followed by development of the technology is still inadequate. 'Cost-benefit model for each energy source' is used in analysis of technology development of renewable energy and quantitative and macro economical effects of its commercialization in order to foresee following expand in related industries and increase in added value. First, Investment on the renewable energy technology development is in direct proportion both to the product and growth, but product shows slightly higher index under the same amount of R&D investment than growth. It indicates that advance in technology greatly influences the final product, the energy growth. Moreover, while R&D investment on renewable energy product as well as the government funds included in the investment have proportionate influence on the renewable energy growth, private investment in the total amount invested has reciprocal influence. This statistic shows that research and development is mainly driven by government funds rather than private investment. Finally, while R&D investment on renewable energy growth affects proportionately, government funds and private investment shows no direct relations, which indicates that the effects of research and development on renewable energy do not affect government funds or private investment. All of the results signify that although it is important to have government policy in technology development and commercialization, private investment and active participation of enterprises are the key to the success in the industry.

• Journal of Korean Society of Transportation
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• v.34 no.5
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• pp.421-436
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• 2016

Public-Private-Partnerships tend to be committed high project development cost and recover the cost through future revenue during the operation period. In general, long-term concession can bring on more revenue to private investors, but short-term concession less revenue due to the short recovering opportunities. The concession period is usually determined by government in advance or by the private sectors's proposal although it is a very crucial factor for the PPPs. Accurate traffic forecasting should be most important in planing and evaluating the operation period in that the forecasted traffic determines the project revenue with user fees in PPPs. In this regards, governments and the private investors are required to consider the traffic forecast risk when determining concession period. This study proposed a model for the optimal concession period in the PPPs transportation projects. Monte Carlo simulation was performed to find out the optimal concession period while traffic forecast uncertainty is considered as a project risk under the expected return of the private sector. The simulation results showed that the optimal concession periods are 17 years and 21 years at 5.5% and 7% discount level, respectively. This study result can be applied for the private investors and/or any other concerned decision makers for PPPs projects to set up a more resonable concession period.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2016.10a
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• pp.307-318
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• 2016

• Journal of Korean Society of Transportation
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• v.19 no.5
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• pp.158-159
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• 2001

• 전기의세계
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• v.41 no.12
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• pp.13-20
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• 1992

앞으로의 에너지수요는 환경보전적인 측면과 사용의 편리성 등으로 전기에너지의 사용비중이 점진적으로 높아질 것으로 예상되고 있으나 자원이 부족한 우리나라로서는 에너지 수급물체와 화석연료사용에 따른 환경문제 등 불리한 여건에 놓여있다, 그리고 세계의 경쟁과 협력은 경제와 과학기술을 중심으로 이루어진다는 점을 감안해 볼때 이러한 제반문제를 극복하고 21세기의 선진국 대열에 진입하기 위해서는 새로운 신에너지 기술개발은 필연적이라고 생각되어지고 그 개발성과 여하에 따라 국제사회에서 우리나라의 위상을 결정해 주는 중요한 요소가 될 것으로 본다. 세계적으로 신에너지 연구개발분야에서 미국은 화석연료자원이 풍부함에도 불구하고 태양광발전 풍력발전 등 신.재생에너지 기술개발과 석탄청정이용기술 개발을 정부와 민간의 공동사업으롤 적극 추진중에 있으며 일본조 1974년 부터 통상산업성 주도하에 신에너지 기술개발 계획인 Sunshine Project와 1978년 에너지 절약기술인 Moonlight Project를 수립한 이후 1980년 신에너지 산업기술 총합개발기구(NEDO)가 설립되어 지속적인 에너지 기술개발이 추진되고 있다. 그러므로 에너지 자원이 빈약하고 기반기술이 취약한 우리나라의 경우에는 정부차원에서 신에너지 기술개발에 대한 적극적인 의지와 민간기업의 참여를 유도할 수 있는 제도적 지원이 필요하며 선도기술개발 사업 신에너지 기술개발의 성공을 위하여 정부와 민간의 공동노력을 위한 장기적인 안목의 투자와 연구가 지속적으로 필요한 것으로 본다.