• Korean Journal of Agricultural Science
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• v.29 no.1
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• pp.55-65
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• 2002

The most representative fruit in Yanbian area is Applepear(Ping Guo Li). It has been a important resource of farm income. According to the economic growth and income Increase of individual consumers, food consumption pattern will be changed from grain to high value cash crops such as Applepear and vegetables. The globalization and adapt ion of free market oriented economic policy of China government have led to change the collective farming system to individual farm management system. The institutional transformation have brought about high productivity of farm products and incomes of farmers. Therefore the plantation area of Applepear and requirement of investment cost for establishment of Applepear farms have increased rapidly since the 1980's, the time of perestroika and glasnost in Chinese economy. In prosperity of Chinese agriculture, individual farmer's decision making as free selection of farmland use, selection of high pay-off crops, free sale of the products in free market and credit support for the project might be the most important factors. In case of Applepear farm development, net present value of the project net benefit was estimated at 55.518won per hectare and financial rate of return was 21%. The benefit/cost ratio of the project was 2.11. Considering 10% of discounting rate or the opportunity cost of capital in China the Applepear farm development project showed us economically feasible in the light of the above efficiency indices. The Chinese government has to support Applepear farm development project financially and institutionally considering the high-payoff benefit of the fruit and farmer's in come increase in the future.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.37 no.5
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• pp.815-825
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• 2017

Visibility of lane marking is impaired at night or in the rain, which thereby threatens traffic safety. Recently, various studies and technologies have been developed to improve lane marking visibility, such as the extension of lane marking life expectancy (up to 1.5 times), improvement of lane marking equipment productivity, improvement of lane marking visibility by applying phosphorescent material mixed paint. Cost-benefit analysis was performed with considering various benefit items that can be expected. About 45% of traffic accidents would be prevented by improving lane marking visibility. Additionally, accident reduction benefit and traffic congestion reduction benefit were calculated as much as 246 billion KRW per year and 12 billion KRW per year, respectively, by reducing repaint cycle due to enhanced durability. 45 billion KRW per year is expected to reduced with improved lane detection performance of autonomous vehicle. Meanwhile, total increased cost when introducing phosphorescent material mixed paint to 91,195km of nationwide road is identified as 1922 billion KRW per year. However, economic feasibility could not be secured with 0.16 of cost-benefit ratio when applied to the road network as a whole. In case of "Accident Hot Spot" analyzing section window (400m), one or more fatality or two or more injured (one or more injured in case of less than 2 lanes per direction) per year were caused by pavement marking related accident, economic feasibility was secured. In detail, 3.91 of cost-benefit ratio is estimated with comparison of the installation cost for 5,697 of accident hot spot and accident reduction benefit. Some limitations and future research agenda have also been discussed.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.15 no.6
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• pp.127-137
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• 2016

It is widely recognised that the safety-belt is one of the most important and effective vehicle safety features. Nevertheless, actual safety-belt wearing rates are low in Korea, especially rear seats. In Korea, rear seat safety-belt use can be as low as 20%. Consolidating fitment of Safety Belt Reminder(SBR) is one of means to improve belt wearing rates. In this paper, we use the effect of wearing seat belt model as Evans(1991) model. As a key parameter, intial wearing seat belt rates is studied and final wearing seat belt rates is used as scenario related a human compliance variables. In this study, benefit analysis is performed when the effective SBR is made mandatory for all passenger car seat. According to study results, when the fitment of SBR is made mandatory for all passenger car seats in Korea, 119 lives are expected to be saved annually with a 90% observance rate of the SBR. In the same condition, benefit-cost ratio will be 1.84.

• The Journal of Fisheries Business Administration
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• v.40 no.3
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• pp.189-205
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• 2009

This study is aimed to analyze the economic feasibility comparison of the extruded pellets and moist pellets on the Oliver flounder culture farms in Jeju Island. In order to do this, we selected 2 farms (M and S farms) in Jeju Island as a sample. In the study, various analyses including productivity analysis, cost structure analysis, profitability and economic feasibility analysis by feed type were conducted for two sample farms of Oliver flounder culture. The results of economic analysis by feed type on the Oliver flounder culture can be summarized as follows; First, there were not significant differences in productivity by feed type. Second, results of the profitability analysis on farm M by feed type showed the profitability was estimated to be 15.52% and 9.83% in EP and MP, respectively. In addition, the profitability of farm S was estimated to be 28.37% and 33.72% in EP and MP, respectively. Third, results of the economic analysis on farm M by feed type indicated that an internal rate of return(IRR) was 8% and 7% and a benefit-cost ratio was shown to be 1.64 and 1.11 in EP and MP, respectively. Furthermore, the economic analysis of farm M by feed type showed that an IRR was 19% and 24% and a benefit-cost ratio was calculated to be 1.4 and 1.51 in EP and MP, respectively. In summary, it is especially emphasized that economic valuation is not related to feed types (EP and MP). Finally, in order to improve the economic feasibility, it should be more focused on the efficient business management of the Oliver flounder aquaculture.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.23 no.2
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• pp.89-105
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• 2024

Bus stop improvement conveys users their usability. It is essential that transportation jurisdictions should identify quantitative effects of a bus stop improvement to invest effectively and expand consistently. Nevertheless, there is currently no research to estimate the quantitative effect on bus stops improvement. In this study, the willingness to pay and the benefit-cost ratio for the bus stops improvement were estimated through a contingent valuation method based on user satisfaction. It was found that the bus stop improvement located in urban areas can achieve high-cost benefits, and it in suburban areas has a great impact on improving the quality of life of local residents. The results of this study will be used as a basis for expanding the bus stop facility improvement project.

• Journal of Environmental Science International
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• v.27 no.9
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• pp.803-807
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• 2018

This study evaluated the duck growth performance and the economic benefits on using illite as a feed additive for ducks. Illite powder at three levels (0%, 1%, and 1.5%) was added to commercial duck diets, and fed to 180 one-day-old ducks (Pekin, 3 replicates, 20 ducks per pen) using a randomized block design for 39 days. During the experimental period, there were no significant growth performance differences between treatments (p>0.05), except with the feed conversion ratio (p<0.05), for all periods (8-39 days). In addition, the dietary supplementation of 1% and 1.5% illite did not significantly improve (p>0.05) Feed Intake Cost (FIC), Weight Gain Value (WGV), Meat Production Cost (MPC), Economic Efficiency (EE), Profitability (P), or cost benefit ratio for 8 to 21 d, 22 to 39 d, and 8 to 39 d. However, the differences in meat production cost and profitability between treatments were statistically significant (p<0.05) for all periods (8-39 d). In conclusion, adding 1% and 1.5% illite to duck diets is not beneficial for improving either the duck growth performance or the economic indicators.

• Korean Journal of Agricultural Science
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• v.28 no.2
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• pp.132-146
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• 2001

Rice cultivation is not only the main resource of farm income and staple food but also the root of cultural life of Korean people. Korean government has carried out irrigation water development with heavy investment to cope with water shortage in rice fanning as a link of the five years economic development plans. In spite of the continuous accomplishment of irrigation water development, the marginal benefits-costs of irrigation water has not been studied. Owing to the government full support for the operation and maintenance of irrigation facilities, price of irrigation water as a membership fee could not be formed as the municipal and industrial water prices. Accordingly this study is aimed at identifying firstly the marginal benefits-cost of irrigation water, secondly deriving the macro-econometrics models as supply and demand functions of irrigation water and thirdly examining the marginal benefits-cost ratio. The trends of supply and demand prices of irrigation water were estimated annually. Considering the marginal benefits-cost ratio as 1.3, it was identified that additional irrigation water development projects still have an economic feasibility under the present economic situation in Korea.

• Journal of the Korean Society of Marine Environment & Safety
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• v.20 no.2
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• pp.130-142
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• 2014

The Korean government is considering implementation of the marine ecosystem restoration technology program (MERTP) to analyze the current status of the marine ecosystems and causes for the ecosystem deterioration as well as to eventually establish a master strategic plan for restoring ecosystem functions and preventing ecosystem functional loss. In order to determine likelihood of successful implementation, it is essential to perform an analysis of the economic feasibility of the program. The present study assessed economic feasibility of the MERTP. To this end, the dichotomous choice contingent valuation (CV) method is used. In particular, dichotomous choice (DC) format is employed as a method of eliciting willingness-to-pay (WTP) response to incentive-compatible mechanisms. The study also employed the spike model to deal with zero WTP responses from the DC CV survey. This survey of 1,000 randomly selected households in accordance with the guidelines provided by the National Oceanic and Atmospheric Administration (USA) was carried out nationwide in 2013. And, the respondents were asked in person-to-person interviews about their WTP for implementing the MERTP. The results showed that the annual mean WTP was estimated to be 5,414 won per household. Consequently, the annual benefit from the MERTP would be about 98.6 billion won for the next five years. Economic feasibility assessment utilizing the MERTP investment cost and expansion cost of the value provided that net present value, benefit/cost ratio, and internal rate of return are 337.8 billion won, 5.20, and 65.9 %, respectively, which are bigger than 0, 1.0, and 5.5 %, and that the MERTP passes the cost-benefit analysis.

• Asian-Australasian Journal of Animal Sciences
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• v.7 no.1
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• pp.49-55
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• 1994

This study was conducted to compare the of rearing native and cross-bred dairy cows and returns received from them. For this purpose, 144 cows of 132 household from 24 villages were randomly selected. of them, 96 were native cows and 48 were cross-bred cows. The study revealed that among the structure of cost components, labour charge occupied the major share in the total cost of milk production per litre. The total cost of rearing native and cross-bred cows was Tk. 14,155 and Tk. 19,854 per annum, respectively. The average net cost of milk production per litre was Tk. 14.12 for native cows and Tk. 0.52 and for cross-bred cows were Taka 3.40. The benefit-cost ratio of milk per litre was higher (1:1.33) in cross-bred cows than native ones (1:1.04). The study further showed that in comparing with bulk line cost, the price of milk per litre received by the farmers was higher in cross-bred cows than native cows. Therefore, the study recommends dairying with cross-bred cows as encouraging and viable commercial enterprise in Banfladesh.

• The Journal of Fisheries Business Administration
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• v.46 no.1
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• pp.109-119
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• 2015

This paper is to estimate the economic effect of benefits of the R&D and recreational fishing as well as input-output analysis in the Tae-an Trial Sea Farm Project(TTSFP). We use B/C model to indicate the effects of economic valuation. B/C analyses model consists of Benefit Cost Ratio(BCR), Net Present Value(NPV) and Internal Ration of Return(IRR). Using 5.5% discounting rates and the survey data, the sub-models show economically feasible in the all of analysis and analyzed the results as follows. NPV is 42,147 million won, BCR is 3.29 and IRR is 34.30%. This study attempts to apply input-output(I-O) analysis in connecting the economic effect of TTSFP. I-O model was constructed, focusing on three effects; the production-inducing effect, the value-added-inducing effect and employment-inducing effect. There are positive effects on economic value and job creation in Tae-an and Nation.