• Title/Summary/Keyword: 투자회수기간

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Standardization of the Lease Fee Assessment System of Busan Port Container Terminals (부산항 컨테이너부두 임대료 산정체계 표준화 방안)

  • Kil, Kwang-Soo
    • Journal of Korea Port Economic Association
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    • v.27 no.3
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    • pp.65-90
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    • 2011
  • Private stevedoring companies are leasing and operating the container terminals of the Busan Port. The total amount of lease fees private stevedoring companies paid in 2010 reached 161 billion wons, an approximately 66 percent of the total revenue of the Busan Port Authority(BPA). In other words, lease fees are the most important revenue source for BPA. However, the lease fee assessment system of Busan container terminals goes against the principle of equity due to different assessment methods and criteria adopted by each container terminal. Therefore, the purpose of the study is to analyze the systematic problems of the lease fee assessment system that is used at Busan container terminals, and propose a new standardized scheme with a case study on the new system. In order to standardize the assessment system, the assessment methods need to be simplified by using the Discounted Cash Flow(DCF) method. In addition, the assessment criteria such as assessment duration, discount rates, price indexes, estimated container throughputs, sales unit price per TEU, operation costs, including labor costs, need to be standardized as well. The new standardized assessment system can be applied to estimate lease fees for new terminals. However, for existing terminals to run the new system, factors such as assessment duration, discount rates, price indexes, estimated container throughputs, investment and re-investment costs, and maintenance & repair costs of the new system should be changed slightly.

An Improvement Method through Build-Transfer-Lease (BTL) Problem Analysis from the Special Purpose Company (SPC) Perspective (SPC 관점에서의 BTL사업 문제점 분석을 통한 개선방법)

  • Kim, Soo-Yong;Son, Myung-Chan;Yang, Jin-Kook
    • Korean Journal of Construction Engineering and Management
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    • v.14 no.3
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    • pp.167-175
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    • 2013
  • In 2005, the government introduced BTL(Build-Transfer-Lease) projects as one of the methods of private investment in infrastructure. In a BTL project, a private company builds a public facility and leases it to the government to withdraw its invested capital. But there appear several problems with it due to a short period of preparation and lack of experiences. Specifically, private companies that plan to participate in this project have to take a risk since serious problems are likely to take place because of unrealistic estimation of construction costs, etc., and they finally avoid participating in this project. A case study was made over advanced countries, Japan and the United Kingdom, to find out how to resolve the problems, and rational 7 improvement method were presented from a perspective of Special Purpose Company (SPC), which could be accepted by both of SPC and government agencies. The findings of the study are expected to provide workable solutions to BTL projects from a standpoint of private companies to facilitate the rational improvement of BTL projects, and this study is ultimately expected to stimulate the active participation of SPC to make a contribution to the vitalization of domestic BTL projects.

To Improve Production Process of the Modular Using the Conveyor System (모듈러 공장생산 프로세스 개선을 위한 컨베이어시스템 적용 방안 - 공장생산 중심으로 -)

  • Bae, Byung-Yoon;Kim, Kyung-Rai;Cha, Hee-Sung;Shin, Dong-Woo
    • Korean Journal of Construction Engineering and Management
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    • v.13 no.5
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    • pp.103-112
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    • 2012
  • Republic of Korea is recently becoming an advanced country with increasing standard of living. This is causing a lack of employment in the construction industry because of high labor costs and it is resulting rapid increase in foreign labors. Modular Method of Construction can be defined as 50%~90% of the entire process is completed in factory, and transferred to construction field to install. The main purpose of this process is to minimize the entire process that possibly can be done at construction field in order to maximize the quality. The current local usage of Modular Method of Construction started at Shin Ki Elementary School during 2003 and it is widely used for military facilities. It should be used more because it has strengths of spending short time period to complete and low production costs. It can make a change if Modular Method of Construction is applied. Toyota is currently producing vehicle with conveyor system and if Modular Method of Construction is applied, then it is possible to reduce the waste of labor, and automatic production time. Expansion of the modular Market can be expected by applying this method because it will improve producing costs, high quality, and enforced process. This research tried to solve the problem of factory's manufacturing production by applying local Modular Method of Construction to provide suggestions and analyze the profitability with applied conveyor system. It is depending on produced model, but this research's model will take 20 months including assessment of payback period.

The Effect of Community Service Users' Intention to Repurchase Social Services (지역사회서비스 이용자의 사회서비스 재구매 의도에 미치는 영향)

  • Lee, Hyoung-Ha;Choi, Han-Su
    • Journal of the Korea Society of Computer and Information
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    • v.19 no.9
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    • pp.141-150
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    • 2014
  • This study was conducted as an attempt to explain social service users' intention to repurchase social services. For this purpose, it analyzed variables affecting intention to repurchase social services, focusing on service satisfaction and service effect. The subjects of this study were users participating in community service investment programs and local development projects (city/district) in G Metropolitan City. For the survey, the researcher visited institutions providing social services and had the subjects answer a self-administered questionnaire. A total of 607 questionnaires were recovered and 553 of them were used in the final analysis. The survey period was from the $9^{th}$ to $24^{th}$ of September, 2013. According to the results of analysis, intention to repurchase social services was relatively high as 3.62 out of 5. Service satisfaction was 3.97 out of 5, and service effect was as high as 4.11 out of 5. According to the results of regression analysis on intention to repurchase social services, intention to repurchase services was affected significantly by 'service accessibility' (B=.100, p<.01) among the factors of service satisfaction, and 'More adaptable to daily life after getting services' (B=.206, p<.001) and 'The current services are necessary for my family' (B=.475, p<.001) among the factors of service effect. Based on these results, practical suggestions were made for enhancing users' intention to repurchase social services.

Intention to Medical Facilities Selection according to Medical Service Experience of Serviceman (현역병사의 의료이용 경험에 따른 진료의료기관 선택 의향)

  • Hwang, Byung-Deog
    • The Journal of the Korea Contents Association
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    • v.10 no.4
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    • pp.247-256
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    • 2010
  • This study, using questionnaires to target Servicemen were investigating. Study period of 2009 October to 24 was 20 days. All 600 questionnaires distributed affair, but 565 cases were collected. The purpose of the this study was serviceman investigate the actual conditions of utilization of private hospitals and awareness for the level of military hospital medical service as well as to the selection of future for the private hospitals is to finding. Results of the study are as follows: Outpatient utilization rate of each other the military hospital and private hospitals was 60.7% and 18.9%.(p<.000) The results of frequency study of the factors which affect the private hospital is satisfaction of medical workforce(58.9%), medical equipment and facilities(49.6%), etc. The choice of hospital were inpatient and outpatient both the selected by private hospitals. Had to prefer a private hospital were statistically significant (p<.005). In conclusion, to increase the preference of the military hospital is level of private hospital health care level of should be to developed. More support to financial should provide for medical workforce and setting of cutting edge medical equipment in the military hospital. Military hospital is should be competition with private hospital. Also should be improve the quality of military medical service.

A Case Study of the Improvement of the Structural Work of a Logistics Facility by Using PC Member (PC부재에 의한 물류시설의 골조공사 개선사례 연구)

  • Kim, Seon-Hyung;Choi, Eun-Gyu;Kim, Sun-Kuk;Lee, Sung-Ho
    • Journal of the Korea Institute of Building Construction
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    • v.10 no.6
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    • pp.127-135
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    • 2010
  • As logistics facilities have a high ceiling height, simple structure, and the need for a quick return on investment, it is usually essential to advance the construction schedule of such facilities. Accordingly, PC structures, which require less labor, cost and schedule, can be more competitive than RC structures. However, most construction companies in Korea are familiar with RC structure design, have negative perceptions regarding PC structures, and do not sufficiently adopt new construction techniques. The structure that this research features has 110 columns that are 14 m high and are built to the same specification, and applying an RC design to the structure will lead to issues related to constructibility, economic viability, project duration and safety. Therefore, this study intends to feature PC design as an alternative to the RC warehouse design, and perform a comparative analysis of the reduction in labor, cost and construction schedule to highlight benefits. The research outcomes herein will provide inputs to subsequent studies on new construction strategies to advance the construction schedule, improve quality and constructibility, enhance safety and save costs.

A Study on the Science and Technology Level in Korea (우리나라의 과학기술수준조사에 관한 연구)

  • 정근하;김인호;정한수
    • Proceedings of the Korea Technology Innovation Society Conference
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    • 1999.11c
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    • pp.219-236
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    • 1999
  • This study is to acquire a thorough understanding of the S&T level of Korea to serve as an important basis for the government policy-making, and to make basic information available to effectively promote the National R&D Program by survey of the overall S&T level in Korea S&T level survey is a comparison to the highest levels in the world to the third 3digit of the technology tree table. And, survey of technological gaps by year, during which Korea is able to reach the current level of the advanced countries. The findings of the surveys should be applied to strategic technology Planning for solving or narrowing the technology gap, e the major criteria for resources allocation in National R&D programs. And, the findings of the surveys should be the fundamental information used to establish strategic S&T policy in government.

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A study on the improvement of distribution system by overseas agricultural investment (해외농업투자에 따른 유통체계 개선방안에 관한 연구)

  • Sun, Il-Suck;Lee, Dong-Ok
    • Journal of Distribution Science
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    • v.8 no.3
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    • pp.17-26
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    • 2010
  • Recently concerns have been raised due to the unbalanced supply of crops: the price of crops has been unstable and at one point the price went up so high that the word Agflation(agriculture+ inflation) was coined. Korea, in particular, is a small-sized country and needs to secure the stable supply of crops by investing in the produce importation at a national level. Investment in foreign produce importation is becoming more important as a measure for sufficient supply of crops, limited supply of domestic crops, weakened farming conditions worldwide, as well as recent changes in the use of crops due to the development of bio-fuels, influence of carbon emission on crops, the price increase in crops, and influx of foreign hot money. However, there are many problems with investing in foreign produce importation: lack of support from the government; lack of farming information and technology; difficulty in securing the capital; no immediate pay-off from the investment and insufficient management. Although foreign produce is originally more price-competitive than domestic produce, it loses its competiveness in the process of importation (due to high tariffs) and poor distribution system, which makes it difficult to sell in Korea. Therefore, investment in foreign produce importation is being questioned for feasibility; to make it possible, foreign produce must maintain the price-competitiveness. Especially, harvest of agricultural products depends on natural and geographical conditions of each country and those products have indigenous properties, so distribution system according to import and export of agricultural products should be treated more carefully than that of other industries. Distribution costs are differentiated into each item and include cost of sorting and wrapping, cost of wrapping materials, cost of domestic transport, cost of international transport and cost of clearing customs for import and export. So transporting and storing agricultural products generates considerable costs compared with other products. Also, due to upgrade of dietary life, needs for stability, taste and visible quality toward food including agricultural products are being raised and wrong way of storage causes decomposition of food and loss of freshness, making the storage more difficult than that in room temperature, so storage and transport in distribution of agricultural products needs specialty. In addition, because lack of specialty in distribution and circulation such as storage and wrapping does not solve limit factors in distance, the distribution and circulation has been limited to a form of import and export within short-distant region. Therefore, need for distribution out-sourcing which can satisfy specialty in managing distribution and circulation and it is needed to establish more effective distribution system. However, existing distribution system of agricultural products is exposed to various problems including problems in distribution channel, making distribution and strategy for distribution and those problems are as follows. First, in case of investment in overseas agricultural industry, stable supply of the products is difficult because areas of production are dispersed widely and influenced by outer factors due to including overseas distribution channels. Also, at the aspect of quality, standardization of products is difficult, distribution system is quite complicated and unreasonable due to long distribution channels according to international trade and financial and institutional support is not enough. Especially, there are quite a lot of ineffective factors including multi level distribution process, dramatic gap between production cost and customer's cost, lack of physical distribution facilities and difficulties in storage and transport due to lack of wrapping containers. Besides, because import and export of agricultural products has been manages under the company's own distribution according to transaction contract between manufacturers and exporting company, efficiency is low due to excessive investment in fixed costs and lack of specialty in dealing with agricultural products causes fall of value of products, showing the limit to lose price-competitiveness. Especially, because lack of specialty in distribution and circulation such as storage and wrapping does not solve limit factors in distance, the distribution and circulation has been limited to a form of import and export within short-distant region. Therefore, need for distribution out-sourcing which can satisfy specialty in managing distribution and circulation and it is needed to establish more effective distribution system. Second, among tangible and intangible services which promote the efficiency of the whole distribution, a function building distribution environment which includes distribution information, system for standard and inspection, distribution finance, system for diversification of risks, education and training, distribution administration and tax system is wanted. In general, such a function building distribution environment is difficult to be changed and supplement innovatively because its effect compared with investment does not appear immediately despite of its necessity. Especially, in case of distribution of agricultural products, as a function of collecting and distributing is performed individually through various channels, the importance of distribution information and standardization is getting more focus due to the problem of repetition of work and lack of specialty. Also, efficient management of distribution is quite difficult due to lack of professionals in distribution, so support to professional education is needed. Third, though effort to keep self-sufficiency ratio of staple food, rice is regarded as important at the government level, level of dependency on overseas of others crops is high. Therefore, plan for stable securing food resources aside from staple food is also necessary. Especially, governmental organizations of agricultural products distribution in Korea are production-centered and have unreasonable structure whose function at the aspect of distribution and consumption is quite insufficient. And development of new distribution channels which can deal with changes in distribution environment and they do not achieve actual results of strategy for distribution due to non-positive strategy for price distribution. That is, it implies the possibility that base for supply will become vulnerable because it does not mediate appropriate interests on total distribution channels such as manufacturers, wholesale dealers and vendors by emphasizing consumer protection excessively in the distribution of agricultural products. Therefore, this study examined fundamental concept and actual situation for our investment to overseas agriculture, drew necessities, considerations, problems, etc. of overseas agricultural investment and suggested improvements at the level of distribution for price competitiveness of agricultural products cultivated in overseas under five aspects; government's indirect support, distribution's modernization and distribution information function's strengthening, government's political support for distribution facility, transportation route, load and unloading works' improvement, price competitiveness' securing, professional manpower's cultivation by education and training, etc. Here are some suggestions for foreign produce importation. First, the government should conduct a survey on the current distribution channels and analyze the situation to establish a measure for long-term development plans. By providing each agricultural area with a guideline for planning appropriate production of crops, the government can help farmers be ready for importation, and prevent them from producing same crops all at the same time. Government can sign an MOU with the foreign government and promote the importation so that the development of agricultural resources can be stable and steady. Second, the government can establish a strategy for an effective distribution system by providing farmers and agriculture-related workers with the distribution information such as price, production, demand, market structure and location, feature of each crop, and etc. In order for such distribution system to become feasible, the government needs to reconstruct the current distribution system, designate a public organization for providing distribution information and set the criteria for level of produce quality, trade units, and package units. Third, the government should provide financial support and a policy to seek an efficient distribution channel for foreign produce to be delivered fresh: the government should expand distribution facilities (for selecting, packaging, storing, and processing) and transportation vehicles while modernizing old facilities. There should be another policy to improve the efficiency of unloading, and to lower the cost of distribution. Fourth, it is necessary to enact a new law covering exceptional cases for importing produce in order to maintain the price competitiveness; currently the high tariffs is keeping the imported produce from being distributed domestically. However, the new adjustment should be made carefully within the WTO regulations since it can create a problem from giving preferential tariffs. The government can also simplify the distribution channels in order to reduce the cost in the distribution process. Fifth, the government should educate distributors to raise the efficiency and to modernize the distribution system. It is necessary to develop human resources by educating people regarding the foreign agricultural environment, the produce quality, management skills, and by introducing some successful cases in advanced countries.

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Bankruptcy Forecasting Model using AdaBoost: A Focus on Construction Companies (적응형 부스팅을 이용한 파산 예측 모형: 건설업을 중심으로)

  • Heo, Junyoung;Yang, Jin Yong
    • Journal of Intelligence and Information Systems
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    • v.20 no.1
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    • pp.35-48
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    • 2014
  • According to the 2013 construction market outlook report, the liquidation of construction companies is expected to continue due to the ongoing residential construction recession. Bankruptcies of construction companies have a greater social impact compared to other industries. However, due to the different nature of the capital structure and debt-to-equity ratio, it is more difficult to forecast construction companies' bankruptcies than that of companies in other industries. The construction industry operates on greater leverage, with high debt-to-equity ratios, and project cash flow focused on the second half. The economic cycle greatly influences construction companies. Therefore, downturns tend to rapidly increase the bankruptcy rates of construction companies. High leverage, coupled with increased bankruptcy rates, could lead to greater burdens on banks providing loans to construction companies. Nevertheless, the bankruptcy prediction model concentrated mainly on financial institutions, with rare construction-specific studies. The bankruptcy prediction model based on corporate finance data has been studied for some time in various ways. However, the model is intended for all companies in general, and it may not be appropriate for forecasting bankruptcies of construction companies, who typically have high liquidity risks. The construction industry is capital-intensive, operates on long timelines with large-scale investment projects, and has comparatively longer payback periods than in other industries. With its unique capital structure, it can be difficult to apply a model used to judge the financial risk of companies in general to those in the construction industry. Diverse studies of bankruptcy forecasting models based on a company's financial statements have been conducted for many years. The subjects of the model, however, were general firms, and the models may not be proper for accurately forecasting companies with disproportionately large liquidity risks, such as construction companies. The construction industry is capital-intensive, requiring significant investments in long-term projects, therefore to realize returns from the investment. The unique capital structure means that the same criteria used for other industries cannot be applied to effectively evaluate financial risk for construction firms. Altman Z-score was first published in 1968, and is commonly used as a bankruptcy forecasting model. It forecasts the likelihood of a company going bankrupt by using a simple formula, classifying the results into three categories, and evaluating the corporate status as dangerous, moderate, or safe. When a company falls into the "dangerous" category, it has a high likelihood of bankruptcy within two years, while those in the "safe" category have a low likelihood of bankruptcy. For companies in the "moderate" category, it is difficult to forecast the risk. Many of the construction firm cases in this study fell in the "moderate" category, which made it difficult to forecast their risk. Along with the development of machine learning using computers, recent studies of corporate bankruptcy forecasting have used this technology. Pattern recognition, a representative application area in machine learning, is applied to forecasting corporate bankruptcy, with patterns analyzed based on a company's financial information, and then judged as to whether the pattern belongs to the bankruptcy risk group or the safe group. The representative machine learning models previously used in bankruptcy forecasting are Artificial Neural Networks, Adaptive Boosting (AdaBoost) and, the Support Vector Machine (SVM). There are also many hybrid studies combining these models. Existing studies using the traditional Z-Score technique or bankruptcy prediction using machine learning focus on companies in non-specific industries. Therefore, the industry-specific characteristics of companies are not considered. In this paper, we confirm that adaptive boosting (AdaBoost) is the most appropriate forecasting model for construction companies by based on company size. We classified construction companies into three groups - large, medium, and small based on the company's capital. We analyzed the predictive ability of AdaBoost for each group of companies. The experimental results showed that AdaBoost has more predictive ability than the other models, especially for the group of large companies with capital of more than 50 billion won.

Analysis of Sawmill Productivity and Optimum Combination of Production Factors (제재생산성(製材生産性)과 적정생산요소투입량(適正生産要素投入量) 계측(計測))

  • Cho, Woong Hyuk
    • Journal of Korean Society of Forest Science
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    • v.32 no.1
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    • pp.29-35
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    • 1976
  • In order to estimate sawmill productivities, rates of technical change and optimum combination of production factors, Cobb-Douglas production functions have been derived using data obtained from 96 sample mills in Busan-Incheon, southwestern and northeastern areas. The results may be summarized as follows: 1. There is a tendency of expanding average sawmill size in the areas. The horse-power holdings per mill have been increased at the rates of 91 percent in Busan-Incheon, 7.7 percent in southwestern and 16.9 percent in northeastern areas. This implies that the mills around log-importing ports have made rapid development, compared with those in forest regions. 2. The regression coefficients (production elasticities) of the functions for the year of 1967 in the above three areas are much similar each other, but significant differencies are found in the production functions of 1975. In other words, sawmill productivity was mainly restricted by capital deficiencies in all areas in 1967, but this situation was succeeded only by N-E area in 1975. The range of sum of regression coefficients is 1.0437-1.4214, this indicates increasing rates of return to scale. 3. The annual rates of technical changes in B-I, S-W and N-E areas for the observed period are 17.6, 7.6 and 2.2 percents respectively. Busan-Incheon is the only area where labor productivity is higher than that of capital. 4. The best combination of production factors for maximizing firm's profit is subject to the changes of input and output prices. With some assumptions of prices and costs, the optimum levels of power and labor input in B-I, S-W and N-E areas are 57:17, 427:94 and 192:27.

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