• Ocean and Polar Research
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• v.38 no.3
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• pp.225-234
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• 2016

This project sought to conduct an economic feasibility study regarding the commercial production of bio-hydrogen by the marine hyperthermophilic archaeon, Thermococcus onnurineus NA1 using carbon monoxide-containing industrial off-gas. We carried out the economic evaluation of the bio-hydrogen production process using the raw material of steel mill by-product gas. The process parameter was as follows: $H_2$ production rate was 5.6 L/L/h; the conversion of carbon monoxide was 60.7%. This project established an evaluation criterion for about 10,000 tonne/year. Inflation factors were considered as 3%. The operating costs were recalculated based on prices in 2014. The total investment required for development was covered 30% by capital and 70% by a loan. The operation cost for the 0.5-year test and integration, and the cost for the first three months in the 50% production period were considered as the working capital in the cost estimation. The costs required for the rental of office space, facilities, and other related costs from the construction through to full-scale production periods were considered as continuing expenses. Materials, energy, waste disposal and other charges were considered as the operating cost of the development system. Depreciation, tax, maintenance and repair, insurance, labor, interest rate charges, general and administrative costs, lubrication and miscellaneous expenses were also calculated. The hydrogen price was set at US$ 4.15/kg for the economic evaluation. As a result, the process was considered to be economical with the payback period of 6.3 years, NPV of 18 billion Won and IRR of 26.7%.

• Journal of Navigation and Port Research
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• v.29 no.5 s.101
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• pp.421-429
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• 2005

Traditionally, determination of the optimal containership size is the most important factor for competitiveness of shipping companies in the shipping market. Under this environment, many shipping companies and researchers have studied about it. The objective of this research is to determine the optimal containership size using a total shipping cost in the main trunk lines. Total shipping cost is calculated at the ground of capital costs, vessel operation costs, voyage costs, port charges and miscellaneous costs for 'Europe-Far East', 'Far East-North America' and 'Europe-Far East-North America' services. Analysis results showed that the 6,500TEU containership is an optimal size on the 'Europe-Far East' and 'Europe-Far East-North America' services. And the 8,200TEU containership is an optimal size on the 'Far East-North America' service. Moreover, if the larger containerships over 8,200TEU class start operation afterward, it would be less competitive in the analyzed 3services.

• Environmental and Resource Economics Review
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• v.18 no.4
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• pp.745-766
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• 2009

It is not valid to measure the degree of market power based on the markup of price over marginal market cost in an industry for which the market price of some inputs is not available because those inputs are then excluded in estimating the dual total cost function. If the roles of those inputs are ignored, the markup of price over marginal market cost is likely to be positive in the perfectly competitive industry. In order to have accurate market power markups for the environmentally regulated Korean iron and steel industry, in which the market price of raw material and the price of abatement capital are hard to obtain, in this paper, a dual cost function is derived given the optimal quantities of raw material and abatement capital, and then estimated jointly with the supply relation. The annual average degree of market power for the industry is estimated to be 0.49 over the period 1982~2001. Ignoring environmental regulation would overstate the degree of market power by about 8 percent.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2009.06a
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• pp.173-174
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• 2009

For container shipping company, fuel oil prise is a considerable expense. In the last 3 years, fuel oil prises have risen considerably. An increasing fuel oil prise in container shipping, in the short term, is only partially compensated through surcharges and will therefore affect earnings negatively. This paper deals with the impact of increasing fuel oil price and capital costs for vessels on the number of vessels on the Asia-Europe trade. As per result of 'H' carrier's operation in 2008, there were no cost difference between 8 and 9 vessels operation in case the fuel oil price is USD 169/tons while adopt USD 31,818 as fixed cost. We can expect that the fuel oil price will not be decreased under USD 200 $/Ton on the basis of current high oil price phenomenon. When the fuel oil price is over USD 200 $/ton, therefore, 9 vessels operation is more economic than 8 vessel operation even if the fixed cost is over USD 35,000.

• Journal of Korean Institute of Industrial Engineers
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• v.21 no.3
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• pp.299-311
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• 1995

Conventional discounted cash flow techniques fail to capture the risk associated with investments. This paper proposes an annual cash flow model that considers risk, cost structure and inventory liquidation in the evaluation of investment alternatives. The risk differential of investments is included using the capital asset pricing model while the stochastic version of the cost-volume-profit approach is used to consider inventory liquidation and cost structure. Tradeoffs between fixed and variable costs have been investigated, and portrayed using iso-cash flow curves. The proposed cash flow model has been developed, in particular, to enable an accurate evaluation of advanced manufacturing systems.

• Proceedings of the KIEE Conference
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• 2011.07a
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• pp.686-687
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• 2011

In this paper, the method on calculating benefits of combined heat and power is introduced for standard evaluation in electrical power system. This paper calculates benefits about new national viewpoint and viewpoint of independent power producers and assesses benefits of combined heat and power in Korea and In Seoul national capital area. Benefit costs are composed of avoid cost of centralized generation, line upgrading adjustment, loss adjustment and electrical power trade cost per year in earlier study, in addition trade cost of CO2, construction cost of combined heat and power for accurate calculation. Benefit of combined heat and power is calculated by simulation results of real electrical power system.

• Journal of Distribution Research
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• v.2 no.1
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• pp.215-230
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• 1997

Today, The biggest problem in the structure of high cost and low efficient economic situation in Korea is found due to problem of cost circulation field, so the government officials and enterprises trying to solve it. In fact, The high cost, low efficient structure is not good to poor circulation of goods among businesses, especially in Dae-gus local industries. also, we face there is a shortage of indirect social capital which caused by a lack of connectoin among businesses in the circulation field. Recently, in order to solve the problem of circulation, it is above all necessary that government and local authorities pay attention to it and effort of positive and drastical investment. As the economy of Dae-gu would be activiate and local firms competion should be strengthen, it is request that the policy for efficiency in the circulation of goods need to effort as follows; 1. The highest class of local firms try to convert of knowledge in order to reduce the cost of goods. 2. To efficient of firms goods, it is essential that standardize the goods and spread for automation, so in the long run, There will be thrust forward establishment of total goods information network.

• Water for future
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• v.27 no.4
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• pp.161-171
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• 1994

The water distribution system problem consists of finding a minimum cost system design subject to hydraulic and operation constraints. The design of new branching network in a paddy irrigation system is presented here. The program based on the linear programming formulation is aimed at finding the optimal economical combination of two main factors: the capital cost of pipe network and the energy cost. Two loading conditions and booster pumps for design of pipe network are considered to obtain the least cost design.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.61 no.7
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• pp.950-956
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• 2012

As development of battery technologies, the installation of Battery Energy Storage System (BESS) increased. The BESS can be used for various purposes such like frequency response, load leveling, and fluctuation mitigation of renewable energy generators. In this paper, three state BESS model is proposed. the BESS model considering charge, discharge and keeping efficiency, and life cycle according to depth of discharge (DOD). Then, the benefit and cost of BESS installed at substation for load leveling are summarized. The economic evaluation of BESS is analyzed using net present values (NPV) analysis. In case study, the NPV analysis of NaS battery system is carried out using the proposed BESS model. Because the result of economic evaluation of BESS using nowadays cost data is not positive, the sensitivity analysis of BESS is conducted by changing the capital cost and energy cost.

• Korea Journal of Hospital Management
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• v.26 no.2
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• pp.17-26
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• 2021

Purposes: This study aims to identify factors affecting dental university hospitals' profitability and understand recent their business condition. Methodology: Data from 2016 to 2019 was collected from financial statement, public open data in 8 dental university hospitals. For the study, multiple regression test with stepwise selection was applied. Findings: First of all, 9 out of 19 independent variables were selected by stepwise selection. As a result of multiple regression test with selected independent variables and the dependent variable(operating profit margin ratio), the factors affecting hospitals' profitability were the number of dental unit chair, hospital location, debt ratio, total capital turnover ratio, employment cost rate, material cost rate, management expense rate, the number of patient per a dentist. Practical Implication: To improve dental university hospitals' profitability, hospitals specifically analysis and manage their cost such as employment, material and management cost and seek effectiveness by managing the proper number of patient per a dentist.