• International conference on construction engineering and project management
• /
• 2009.05a
• /
• pp.276-284
• /
• 2009

As an on-going research project, Zero Net Energy Test Home (ZNETH) project investigates effective approaches to achieve whole-house environmental and energy goals. The main research objectives are (1) to identify energy saving solutions for designs, materials, and construction methods for the ZNETH house and (2) to verify whether ZNETH house can produce more energy than the house uses by utilizing Building Information Modeling (BIM) and energy analysis tools. The initial project analysis is conducted using building information modeling (BIM) and energy analysis tools. The BIM-driven research approach incorporates architectural and construction engineering methods for improving whole-building performance while minimizing increases in overall building cost. This paper discusses about advantages/disadvantages of using BIM integrated energy analysis, related interoperability issues between BIM software and energy analysis software, and results of energy analysis for ZNETH. Although this investigation is in its early stage, several dramatic outcomes have already been observed. Utilizing BIM for energy analysis is an obvious benefit because of the ease by which the 3D model is transferred, and the speed that an energy model can be analyzed and interpreted to improve design. The research will continue to use the ZNETH project as a testing bed for the integration of sustainable design into the BIM process.

• Proceedings of the KOR-KST Conference
• /
• 1996.02a
• /
• pp.59-86
• /
• 1996

Current methods for evaluating unsignalized intersections, and estimating level-of-service (LOS) is determined from efficiency-based criteria such as little or no delay to very long delays. At present, similar procedures to evaluate intersections using safety-based criteria do not exist. The improvement of sight distances at intersections is the most effective way of improving intersection safety. However, a set of procedures is necessary to account for the limitations in current methodology. Such an approach would build upon such methods, but also account for: deficiencies in the current deterministic solution for the determination of intersection sight distances; opportunity for an accident and severity of an accident; and cost-effectiveness of attaining various levels of sight distances. In this research, a model that estimates the degree of safety at two-way stop-controlled intersections is described. Only crossing maneuvers are considered in this study because accidents caused by the crossing maneuvers are the dominate type among intersection accidents. Monte Carlo methods are used to estimate the hazard at an intersection as a function of roadway features and traffic conditions. Driver`s minimum gap acceptance in the crossing vehicles and headway distribution on the major road are used in the crossing vehicles and headway distribution on the major road are used in the model to simulate the real intersectional maneuvers. Other random variables addressed in the model are: traffic speeds; preception-reaction times of both drivers in the crossing vehicles and drivers in oncoming vehicles on the major road; and vehicles on the major roads. The developed model produces the total number of conflicts per year per vehicle and total potential kinetic energy per year per vehicle dissipated during conflicts as measurements of safety at intersections. Based on the results from the developed simulation model, desirable sight distances for various speeds were determined as 350 feet, 450 feet and 550 feet for 40 mph, 50 mph and 60 mph prevailing speed on the major road, respectively. These values are seven to eight percent less than those values recommended by AASHTO. A safety based level-of-service (LOS) is also developed using the results of the simulation model. When the total number of conflicts per vehicle is less than 0.05 at an intersection, the LOS of the intersection is `A' and when the total number of conflicts per vehicle is larger than 0.25 at an intersection, the LOS is `F'. Similarly, when the total hazard per vehicle is less than 350, 000 1b-ft2/sec2, the LOS is `F'. Once evaluation of the current safety at the intersection is complete, a sensitivity analysis can be done by changing one or more input parameters. This will estimate the benefit in terms of time and budget of hazard reduction based upon improving geometric and traffic characteristics at the intersection. This method will also enable traffic engineers in local governments to generate a priority list of intersection improvement projects.

• Management & Information Systems Review
• /
• v.28 no.1
• /
• pp.71-97
• /
• 2009

In this study, I compare the ability of alternative accounting method for employee stock option to reflect firm value using the Ohlson's(1995) valuation model for 200 firms. The each methods, I compare are employee stock option expense recognition based on the K-GAAP disclosures, and asset recognition at the grant date based on the SFAS No. 123 Exposure Draft: Accounting for stock-based compensation. The model include: (1) a model that uses reported earnings, equity book value, and compensation expense based on the K-GAAP disclosures; (2) a model that uses pro-forma earnings, equity book value and adds a measure of the unrecognized asset arising form granting of employee stock options. Finding form estimating equations that the K-GAAP method for calculating compensation has no explanatory power, and the SFAS No.123 Draft Exposure method for arising asset and fair value compensation better captures than market's perception of the economic impact of stock options on firm values. However, the correlation of employee stock option compensation expense is positive. These results suggest that incentive benefits derived from employee stock option plans outweigh the cost associated with plan. In addition, I couldn't find evidence that company in KOSDAQ that have high growth potential benefit more from employee stock option plan compared to lager, more mature firm in SEC.

• Journal of the Korean Society of Marine Environment & Safety
• /
• v.25 no.1
• /
• pp.102-110
• /
• 2019

The shipbuilding and offshore plant industry of Korea is important and leads Korea's economic growth, designated as the 1st to 4th export items in Korea in terms of export contribution over the period from 2011 to 2015. This study proposes ways to improve the national competitiveness of Korean shipyards in the global offshore drilling market by reviewing a business model for providing an integrated offshore drilling commissioning service in Korea. This commissioning service model, which was attempted in 2014, was reviewed, and a new proposed business model for overcoming the limitations of the previous model and activating further business was evaluated. As a result of an economic evaluation, it was found that a 150-meter water depth model is economically more effective. As the number of integrated commissions increased from 2 to 5 times per year, NPV, IRR and B/C ratios increased and the fee per use decreased. Therefore, for offshore drilling facilities constructed and delivered in Korea, it will be necessary to encourage integrated offshore commissioning.

• Journal of Korean Tunnelling and Underground Space Association
• /
• v.24 no.6
• /
• pp.553-581
• /
• 2022

Shortly after tunnel boring machine (TBM) was introduced in the tunneling industry, the use of TBM has surprisingly increased worldwide due to its performance together with the benefit of being safely and environmentally friendly. One of the main cost items in the TBM tunneling in rock and soil is changing damaged or worn cutters. It is because that the cutter change is a time-consuming and costly activity that can significantly reduce the TBM utilization and advance rate and has a major effect on the total time and cost of TBM tunneling projects. Therefore, the importance of accurately evaluating the cutter life can never be overemphasized. However, the prediction of cutter wear in soil, rock including mixed face is very complex and not yet fully clarified, subsequently keeping engineers busy around the world. Various prediction models for cutter wear have been developed and introduced, but these models almost usually produce highly variable results due to inherent uncertainties in the models. In this study, a case study of design and construction of disc cutter change is introduced and analyzed, rather than proposing a prediction model of cutter wear. As the disc cutter is strongly affected by the geological condition, TBM machine characteristic and operation, authors believe it is very hard to suggest a generalized prediction model given the uncertainties and limitations therefore it would be more practical to analyze a real case and provide a detailed discussion of the difference between prediction and result for the cutter change. By doing so, up-to-date idea about planning and execution of cutter change in practice can be promoted.

• Environmental and Resource Economics Review
• /
• v.30 no.2
• /
• pp.237-268
• /
• 2021

As variable renewable sources rapidly increase due to the Energy Transition plan, integration cost of renewable sources to the power system is rising sharply. The increase in variable renewable energy reduces the capacity factor of existing traditional power capacity, and this undermines the efficiency of the overall power supply, and demand resources are drawing attention as a solution. In this study, we analyzed how much electric vehicle demand resouces, which has great potential among other demand resources, can reduce power supply costs if it is used as a flexible resource for renewable generation. As a methodology, a stochastic form of power system optimization model that can effectively reflect the volatile characteristics of renewable generation is used to analyze the cost induced by renewable energy and the benefits offered by electric vehicle demand resources. The result shows that virtual power plant-based direct control method has higher benefits than the time-of-use tariff, and the higher the proportion of renewable energy is in the power system, the higher the benefits of electric vehicle demand resources are. The net benefit after considering commission fee for aggregators and battery wear-and-tear costs was estimated as 67% to 85% of monthly average fuel cost under virtual power plant with V2G capability, and this shows that a sufficient incentive for market participation can be offered when a rate system is applied in which these net benefits of demand resources are effectively distributed to consumers.

• Proceedings of the Korean Association of Geographic Inforamtion Studies Conference
• /
• 1995.12a
• /
• pp.9-21
• /
• 1995

A planning support system enhances our ability to use water capacity expansion as an urban growth management strategy. This paper reports the development of capacity expansion modeling of water supply as part of the continuing development of such a planning support system (PEGASUS: Planning Environment for Generation and Analysis of Spatial Urban Systems) to incorporate water supply, This system is designed from the understanding that land use and development drive the demand for infrastructure and infrastructure can have a significant influence on the ways in which land is developed and used. Capacity expansion Problems of water supply can be solved in two ways: 1) optimal control theory, and 2) mixed integer nonlinear programming (MINLP). Each method has its strengths and weaknesses. In this study the MINLP approach is used because of its strength of determining expansion sizing and timing simultaneously. A dynamic network optimization model and a water-distribution network analysis model can address the dynamic interdependence between water planning and land use planning. While the water-distribution network analysis model evaluates the performance of generated networks over time, the dynamic optimization model chooses alternatives to meet expanding water needs. In addition, the user and capacity expansion modeling-to-generate-alternatives (MGA) can generate alternatives. A cost benefit analysis module using a normalization technique helps in choosing the most economical among those alternatives. GIS provide a tool for estimating the volume of demanded water and showing results of the capacity expansion model.

• Journal of Intelligence and Information Systems
• /
• v.29 no.2
• /
• pp.85-100
• /
• 2023

Corporate ESG performance (environmental, social, and corporate governance) reflecting a company's strategic sustainability has emerged as one of the main factors in today's investment decisions. The traditional ESG performance rating process is largely performed in a qualitative and subjective manner based on the institution-specific criteria, entailing limitations in reliability, predictability, and timeliness when making investment decisions. This study attempted to predict the corporate ESG rating through automated machine learning based on quantitative and disclosed corporate financial information. Using 12 types (21,360 cases) of market-disclosed financial information and 1,780 ESG measures available through the Korea Institute of Corporate Governance and Sustainability during 2019 to 2021, we suggested a deep neural network prediction model. Our model yielded about 86% of accurate classification performance in predicting ESG rating, showing better performance than other comparative models. This study contributed the literature in a way that the model achieved relatively accurate ESG rating predictions through an automated process using quantitative and publicly available corporate financial information. In terms of practical implications, the general investors can benefit from the prediction accuracy and time efficiency of our proposed model with nominal cost. In addition, this study can be expanded by accumulating more Korean and international data and by developing a more robust and complex model in the future.

• Journal of the Korean Data and Information Science Society
• /
• v.25 no.1
• /
• pp.131-153
• /
• 2014

The Korean market of pension plans has recently increased and pension plans will be expected to play an important role in the retirement system as complement of the national pension system in the future. However, there are a few of research papers on actuarial projections of pension plans. This paper will discuss a long-term financial projection on defined pension plans using data based on the national pension workplace participants. Previous researches focused on company-based financial projection of pension plan. But, this paper concerns on total Korean pension participants and suggests a method to calculate future financial projection of total pension plans. Finally, this research will suggest several numerical results of normal costs, benefits, numbers of workers, etc.

• Korean Journal of Construction Engineering and Management
• /
• v.14 no.5
• /
• pp.84-91
• /
• 2013

In 2012, Korean overseas construction market has achieved 64.9 billion dollars of contract order and its amount has increased since the mid 2000's. However, importance of qualitative growth based on profitability as well as quantitative growth is also emphasized. This study analyzed overseas plant project's subcontract process management which is closely related to cost management as one of the qualitative growth methods. In order to select major subcontract processes, extensive literature review and focus group interview(FGI) were implemented and then professionals with years of experience in the overseas plant projects were participated in the questionnaire survey. The collected data were analyzed by Benefit-Structure Analysis(BSA) model. The findings of this study include: (1) the seven and six subcontract processes are positioned in the area of importance control factor and in the area of maintenance/control factor, respectively; (2) administration capability attainment is needed for the six subcontract processes in the area of importance control factor and sustainable management system is required for the processes in the maintenance/control factor area. The further research will identify key subcontract processes to be managed for overseas plant projects by Korean EPC contractors based on the findings of this research.