• Management & Information Systems Review
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• v.28 no.3
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• pp.161-189
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• 2009

The sub-prime crisis led to the collapse of US investment banks which were considered highly competitive during the Asian Financial Crisis. The event gave us a lesson on importance of the financial supervision. Additionally concerns rise over the fact that the role model of the Capital Market Law, created for the purpose of developing the capital market, is the US investment banks. This paper investigates if the prudential regulations, among them especially the capital regulation, are able to prevent the risk the arises from Korean financial firms operating investment bank business. The current capital requirement regulation, Net Capital Ratio(NCR), is not sufficient, because it's nature of being a ratio makes the NCR ineffective when assets and liabilities are concurrently rising. We also verified the internal model which measured the market risk, by comparing the US investment and Korean banks' diversification effect. The result of the test is that it is difficult to conclude the internal model has a critical defect. This paper's contribution is that it is not sufficient use only the capital regulation in supervising financial markets.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.3
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• pp.55-63
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• 2012

This study evaluated the economic feasibility for the Oriental Medicine Hospital is established in W-city. To analyze the demand and supply of Oriental Medicine Hospital status and population trends were analyzed inthe hospital service area. As a result, the Service Area of the demand for Oriental Medicine were met by the S-Oriental Hospital. Thus, On the demand side to assess the adequacy of Oriental Hospital established does not make sense. So, Oriental Hospital of 50 beds and 70 beds, separated by the economic feasibility was evaluated. As a result, the Oriental Hospital opened was found to be not economically feasible.

• Journal of the Korean Society for Railway
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• v.15 no.2
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• pp.179-184
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• 2012

Environmental impact is getting more attention in many feasibility studies for railroad-related projects and research items. For sustainable growth and green transportation, the benefits typically used for feasibility studies in railway-related projects, are composed mostly of economic criterions which is not considering growing attention on changing paradigm. Based on the analysis of current methodologies, improvements in estimating environmental impact especially on noise and pollution are suggested. Active steering bogie has been proposed to satisfy stabilizing and steering performance of railroad. This paper describes the feasibility study of the active steering bogie for a urban railway vehicle based on environment-related criteria.

• Proceedings of the KIPE Conference
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• 2003.07a
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• pp.371-374
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• 2003

본 연구에서는 200kw급 풍력발전 시스템의 설치 지역으로 고려 중인 제주도 봉개동 지역의 풍황을 계측장비를 이용하여 7개월에 걸쳐 조사하였다. 측정된 자료들과 자체 제작 분석 프로그램을 사용하여 설치 예상 지역의 연간 예상 발전량 및 이용률 등과 같은 풍력자원을 분석하였다. 또한, 풍력자원 분석결과를 토대로 시스템의 설치 당위성 및 타당성의 판단기준의 하나인 발전단가 및 투자회수기간을 구하는 경제성 분석을 수행하였다.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.11 no.18
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• pp.1-5
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• 1988

In this study we have provided one solution to overcome mistakes with limited technical staffs, capitals and times may be the computer for cost estimating. In view of the speed and the ability to draw on funds of information, we shall see that computer estimating models will become the exhibited and the accepted norm of operation by continuous research. Therefore, the computer is broadly serving the needs of many engineering disciplines and in the area of engineering design and industrial application, inexhaustible developed softwares are presented more easy speed and various application for Cost Engineering.

• The Korean Journal of Financial Management
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• v.9 no.1
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• pp.223-262
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• 1992

This paper develops a theory of the demand for insurance. The present model incorporates insurance demand time value of insurance premium, and demand for listless and risky assets simultaneously within the expected utility framework. For a special case of CARA, an insurance decision can be made separately from other portfolio decisions. However, in general, the interactions of both decisions cannot be ignored even when insurable and speculative risks are stochastically independent. In particular, the role of risky investment in hedging insurable risk is demonstrated and it is shown that this role cannot be duplicated by an insurance contract. When the investment decision is made simultaneously with the insurance decision, some of the classic theory on insurance should be modified. As an example, the authors characterize the sufficient conditions, under which the Bernoulli criteria (without and with premium loadings) hold or are violated in terms of the net gain of risky investment, the net cost of insurance, and the stochastic relationship between insurable and speculative risks. The authors interpret the results using the Rothschild and Stiglitz's (1970) notion of 'increase in riskiness'.

• 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 Korea Technology Innovation Society
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• v.19 no.1
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• pp.29-47
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• 2016

The government has been implementing the preliminary feasibility study to examine previously a plan of the national R&D program submitted by each government ministry or institution and decide whether to reflect its budget. However, although R&D investments obviously have a different contribution depending on the different types of project, the current system applies the average R&D contribution rate to whole industry across the board in order to estimate benefits of the creating value from the R&D activity. This system in turn will cause a distorted result in the economic feasibility analysis. Therefore, this paper conducts an empirical analysis on the ICT R&D contribution for the creating value added, on behalf of all industries, through the growth accounting method and explores an applicability of the differential R&D contribution rate as an alternative by comparing to the existing R&D contribution rate. The result of this paper shows the ICT R&D contribution rate is 48.2%, and we can find out there is a significant difference compared to the existing R&D contribution rate. In light of this, it is necessary to adopt carefully the differentiated R&D contribution rate considering project characteristics.

• Journal of Korean Society of Disaster and Security
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• v.14 no.3
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• pp.1-16
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• 2021

Recently, large-scale projects are required in the water resources sector considering safety and publicitythe due to uncertainty of securing water resources and changes in the ecological environment by climate change. Among these large-scale projects, the projects that fall under the preliminary feasibility study are determined by comprehensive analysis based on economic analysis, policy analysis, and balanced regional development analysis. However, most of the results of the preliminary feasibility study showed a tendency to depend heavily on economic analysis. For this reason, projects in non-metropolitan areas sometimes fail in the preliminary feasibility study. To supplement this point, the Korea Development Institute revised the standard guidelines for preliminary feasibility studies for water resources sector projects that place a high weight on policy feasibility analysis. Therefore, the objective of this study is to analyze the cases of the preliminary feasibility study conducted previously and to suggest the direction of policy analysis in the preliminary feasibility study for water resources sector projects. For this, we analyze preliminary feasibility studies conducted for 18 years from 2002 to 2019, and suggest direction of policy analysis method using the benefit items not included in the economic analysis.

• The Journal of Aerospace Industry
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• s.69
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• pp.1-27
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• 2007

항공우주산업은 생산유발효과가 높고 고용창출도 높을 뿐만 아니라 부가가치산업이나, 대규모적 투자에 따른 투자 위험과 기술적 위험이 높아 정부차원에서의 개입이 불가피한 산업으로 인식된다. 최근 항공우주산업에 대한 정부의 지원 형태는 클러스터 조성, 지방세 감면, 토지 임대를 통한 기업지원 등 과거에 비해 더욱 다양한 형태로 발전되고 있다. 이와 같은 정부지원 형태의 다양성은 기존의 전통적 방식에 의한 지원으로는 글로벌 경쟁이 치열해지는 국제경쟁에서 경쟁력 우위를 유지하기 어렵다는 것을 반증하는 것이라고 할 수 있다. 특히 기존의 산업 중심의 정부지원 전략에서 기업중심의 정부지원 전략으로의 선회 경향은 산업의 주체는 기업이기 때문에 기업의 전체적 역량에 의한 경쟁우위가 글로벌 경쟁에서 보다 중요하다는 점을 시사하고 있다. 경남의 항공우주산업 클러스터 조성 여건은 인프라 구축면에서 여타 지역에 비해 매우 우수한 하부 기반을 구축하고 있어 클러스터 구축에 따른 효율성과 국제경쟁력 확보 가능성이 높다고 할 수 있다. 먼저, 클러스터 구축의 핵심이 되는 핵심선도기업인 KAI가 15년 전부터 대상지역에서 생산활동 중이며, 교육 및 훈련 기능도 비교적 풍부할 뿐만 아니라 공항도 인접해 있어 신속한 물류 및 정보공유, 해외시장과의 접근성이 높다고 할 수 있다. 결론적으로 볼 때, 경남지역의 항공우주산업 클러스터 구축의 타당성은 높다고 할 수 있다. 특히 현재의 항공우주산업 발전 단계상으로 볼 때, 부품산업의 발전이 긴요한 과제이므로 동 클러스터는 항공우주 부품 수출중심의 핵심 거점 클러스터로의 조성할 필요성이 높다고 할 수 있다. 이와 같은 클러스터 조성에 따른 경남 항공우주 클러스터의 운영체계는 “항공우주산업 혁신 클러스터 추진단”을 중심으로 입주 업체, 항공우주 수출 지원단, 관련 R&D 기관 및 교육기관 등이 긴밀하게 연계 되어 운영되어야 할 것이다. 이외에도 중앙정부와의 협의 및 관련 단체들과의 연계를 통해 클러스터의 효율성과 경쟁력 제고를 위한 활동을 적극 추진해야 할 것이다.