• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.7 no.5
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• pp.159-169
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• 2008

The aim of this paper is to research the changes of social welfare by internalizing external cost, especially the maintenance cost. Main target of this paper is the Cheonan$\sim$Nonsan Line, where private capital highway, national highway and local road are competing against each other. Considering the realistic difficulties in applying the First Best pricing, this paper applied the Second Best pricing, applying the maintenance cost, in lieu of the already mentioned. The demand functions of the toll roads were built through regression analysis. By reflecting the maintenance cost to the toll fee, It was able to confirm the variation of social welfare deriving from the traffic assign change but also the aspects of toll revenue at the same time. Result of applying the Second Best pricing shows merely a small change in social welfare. However, in the aspect of finance, it is analyzed that there will be about 13 billion won worth of financial effectiveness which will contribute to the reduction of the national financial support.

• Agribusiness and Information Management
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• v.10 no.1
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• pp.1-15
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• 2018

Many paddy cultivating farmers in the country are forced to use their limited resources to produce adequate food for their family, leading to the degradation and reduction in potential of these resources. The yield levels of paddy at the farmers' level and in the Front Line Demonstrations (FLDs) conducted in the farmers' fields is not at par with potential yield of the paddy variety. The gap between potential yield of crop variety and yield realized in FLDs refers to Research gap and the yield gap between FLDs and due to farmers' practice refers to Extension gap. The earlier studies conducted in India in general and in Andhra Pradesh in particular highlighted the existence of both research and extension gaps with reference to paddy. It is essential that, the narrowing of both research and extension gaps is not static, but dynamic considering the influence of technological interventions in boosting paddy yields at FLDs level and at farmers' level and also with the improvement of the yield potential of paddy varieties. This calls for integrated and holistic approaches to address these two gaps and with this background, the researcher aimed at this in depth study. The findings revealed that, research gaps are high with reference to weed management and pest management and extension gaps are high with reference to farm mechanization followed by fertilizer management. Reliable source of seed, capital use and frequency of meetings with Scientists or Agricultural Officers significantly influence the extension gaps in paddy. Farmers also prioritized socio-economic and technical constraints and the analysis infers that, it is high time now for the farmers to adopt the planned technological interventions on scientific scale to minimize the extension gaps to the extent possible. As the enabling environment in the State of Andhra Pradesh is highly encouraging for the farmers with relevant policy instruments in the form of subsidized inputs, free power, credit at concessional rates of interest, constructing irrigation projects etc., the adoption of the proposed technological interventions significantly contribute to minimizing both research and extension gaps in paddy cultivation in Kurnool district of Andhra Pradesh.

• Progress in Superconductivity and Cryogenics
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• v.20 no.4
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• pp.60-64
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• 2018

As the offshore wind farms increase, interest in the efficient power system configuration of submarine cables is increasing. Currently, transmission system of the offshore wind farm uses almost AC system. High temperature superconducting (HTS) power cable of the high capacity has long been considered as an enabling technology for power transmission. The HTS cable is a feasible way to increase the transmission capacity of electric power and to provide a substantial reduction in transmission losses and a resultant effect of low CO2 emission. The HTS cable reduces its size and laying sectional area in comparison with a conventional XLPE or OF cable. This is an advantage to reduce its construction cost. In this paper, we discuss the economic feasibility of the 22.9 kV HTS power cable and the conventional AC power cables for an offshore wind farm connections. The 22.9 kV HTS power cable cost for the offshore wind farm connections was calculated based on the capital expenditure and operating expense. The economic feasibility of the HTS power cable and the AC power cables were compared for the offshore wind farm connections. In the case of the offshore wind farm with a capacity of 100 MW and a distance of 3 km to the coast, cost of the 22.9 kV HTS power cable for the offshore wind farm connections was higher than 22.9 kV AC power cable and lower than 70 kV AC power transmission cable.

• Applied Chemistry for Engineering
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• v.31 no.6
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• pp.660-667
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• 2020

This study focused on the epoxy resin production process, which uses the steam of 155 ℃ or higher as a heat source, and discards all condensate generated. A part of the process is operated at low temperatures of 70 ℃ or below, thus there are opportunities to reduce the steam consumption by recycling wasted condensate as a heat source for the low temperature section of process. In this study, we developed process models that can reduce steam by recovering waste heat through recycling condensate and conducted a case study to find an optimal condensate recycling system. Three different process designs were proposed and economic evaluations were performed by comparing annual capital costs and steam savings in each case. Finally, an annual steam consumption of the low-temperature section could be reduced by up to 67.6%, which could also bring an additional economic benefit of 522.1 million won/yr.

• Journal of Digital Convergence
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• v.20 no.4
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• pp.119-126
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• 2022

With the rise and rapid development of the "Internet+" economic model, the internet is deeply integrated with the social economy and penetrates every corner of life. Compared with expanding the scale of business operations through internal investment and capital accumulation, e-commerce companies are more inclined to directly gain control of other companies through efficient merger and acquisition (M&A). The purpose of this study is to analyze changes in financial performance before and after M&A of Alibaba, China's largest e-commerce company in the Internet era. To present the impact of M&A events on Alibaba's stock price and shareholder wealth more intuitively, this study selected the market model in the event study method to measure abnormal returns. The results show that an M&A event led to a reduction in Alibaba's shareholder wealth in the short term. This study presents the theoretical basis for the M&A performance of e-commerce companies.

• Journal of Korea Society of Industrial Information Systems
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• v.15 no.4
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• pp.71-81
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• 2010

The purpose of this study is to examine the moderating effects of the Leader-member exchange(LMX) on relationship between the interpersonal conflict and turnover intention. Since effective management of IS personnel is important issue for the IS related researchers and practitioners since their turnover rate has been known to be high and skilled personnel have been in short supply. We develop the hypotheses from the prior studies and empirically testing them in the context of IS personnels from various companies located in vicinity of capital city of Korea. This empirical study show interesting results. Good leader-member exchange has the moderating effect on the management of interpersonal conflict level and drastic reduction of the turnover behavior. Based on the analyzed results, we discussed the theoretical implications and limitations.

• Information Systems Review
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• v.18 no.1
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• pp.79-103
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• 2016

The Korean Army has to construct a system that will enable it to cope immediately with the flexible military relationships in Northeast Asia by systematizing and improving the efficiency of operations. These improvements include building a smart and strong army, concentrating on cost-effective combat skills, maximizing the utilization of private resources, and establishing a military structure based on information and technology. Accordingly, this study proposes solutions to solve the problems affecting the success of outsourcing in the defense industry. Unlike outsourcing in other government ministries, outsourcing in the national defense sector may be unrealistic because this strategy is related to the renovation project of the Ministry of the National Defense. In general, the objective of outsourcing in the defense industry, similar to other businesses, is to improve efficiency and not to reduce troops and national defense budget. Several factors, such as identification and security guarantee, risk reduction, cost saving, quality improvement, the reliability of enterprise, and professional technology, are necessary to ensure outsourcing success in the national defense sector. In terms of effectiveness, the improvement in service quality significantly influences outsourcing success in the national defense sector. Eventually, the national defense forces must be strengthened to prevent the provocative actions of North Korea and other threats by improving identification, sense of national security, and quality unlike the current outsourcing of the government, as well as emulating German GEBB or PMC, which utilizes social capital.

• Transactions of the Korean hydrogen and new energy society
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• v.30 no.1
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• pp.21-28
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• 2019

Reversible solid oxide fuel cell (ReSOC) system was integrated with waste steam for electrical energy storage in distributed energy storage application. Waste steam was utilized as external heat in SOEC mode for higher hydrogen production efficiency. Three system configurations were analyzed to evaluate techno-economic performance. The first system is a simple configuration to minimize the cost of balance of plant. The second system is the more complicated configuration with heat recovery steam generator (HRSG). The third system is featured with HRSG and fuel recirculation by blower. Lumped models were used for system performance analyses. The ReSOC stack was characterized by applying area specific resistance value at fixed operating pressure and temperature. In economical assessment, the levelized costs of energy storage (LCOS) were calculated for three system configurations based on capital investment. The system lifetime was assumed 20 years with ReSOC stack replaced every 5 years, inflation rate of 2%, and capacity factor of 80%. The results showed that the exergy round-trip efficiency of system 1, 2, 3 were 47.9%, 48.8%, and 52.8% respectively. The high round-trip efficiency of third system compared to others is attributed to the remarkable reduction in steam requirement and hydrogen compression power owning to fuel recirculation. The result from economic calculation showed that the LCOS values of system 1, 2, 3 were 3.46 ¢/kWh, 3.43 ¢/kWh, and 3.14 ¢/kWh, respectively. Even though the systems 2 and 3 have expensive HRSG, they showed higher round-trip efficiencies and significant reduction in boiler and hydrogen compressor cost.

• KDI Journal of Economic Policy
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• v.12 no.3
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• pp.27-45
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• 1990

Two opposing views prevail regarding the economic impact of rural out-migration on the rural areas of origin. The optimistic neoclassical view argues that rapid rural out-migration is not detrimental to the income and welfare of the rural areas of origin, whereas Lipton (1980) argues the opposite. We developed our own alternative model for rural to urban migration, appropriate for rapidly developing economies such as Korea's. This model, which adopts international trade theories of nontraded goods and Dutch Disease to rural to urban migration issues, argues that rural to urban migration is caused mainly by two factors: first, the unprofitability of farming, and second, the decrease in demand for rural nontraded goods and the increase in demand for urban nontraded goods. The unprofitability of farming is caused by the increase in rural wages, which is induced by increasing urban wages in booming urban manufacturing sectors, and by the fact that the cost increases in farming cannot be shifted to consumers, because farm prices are fixed worldwide and because the income demand elasticity for farm products is very low. The demand for nontraded goods decreases in rural and increases in urban areas because population density and income in urban areas increase sharply, while those in rural areas decrease sharply, due to rapid rural to urban migration. Given that the market structure for nontraded goods-namely, service sectors including educational and health facilities-is mostly in monopolistically competitive, and that the demand for nontraded goods comes only from local sources, the urban service sector enjoys economies of scale, and can thus offer services at cheaper prices and in greater variety, whereas the rural service sector cannot enjoy the advantages offered by scale economies. Our view concerning the economic impact of rural to urban migration on rural areas of origin agrees with Lipton's pessimistic view that rural out-migration is detrimental to the income and welfare of rural areas. However, our reasons for the reduction of rural income are different from those in Lipton's model. Lipton argued that rural income and welfare deteriorate mainly because of a shortage of human capital, younger workers and talent resulting from selective rural out-migration. Instead, we believe that rural income declines, first, because a rapid rural-urban migration creates a further shortage of farm labor supplies and increases rural wages, and thus reduces further the profitability of farming and, second, because a rapid rural-urban migration causes a further decline of the rural service sectors. Empirical tests of our major hypotheses using Korean census data from 1966, 1970, 1975, 1980 and 1985 support our own model much more than the neoclassical or Lipton's models. A kun (county) with a large out-migration had a smaller proportion of younger working aged people in the population, and a smaller proportion of highly educated workers. But the productivity of farm workers, measured in terms of fall crops (rice) purchased by the government per farmer or per hectare of irrigated land, did not decline despite the loss of these youths and of human capital. The kun having had a large out-migration had a larger proportion of the population in the farm sector and a smaller proportion in the service sector. The kun having had a large out-migration also had a lower income measured in terms of the proportion of households receiving welfare payments or the amount of provincial taxes paid per household. The lower incomes of these kuns might explain why the kuns that experienced a large out-migration had difficulty in mechanizing farming. Our policy suggestions based on the tests of the currently prevailing hypotheses are as follows: 1) The main cause of farming difficulties is not a lack of human capital, but the in­crease in production costs due to rural wage increases combined with depressed farm output prices. Therefore, a more effective way of helping farm economies is by increasing farm output prices. However, we are not sure whether an increase in farm output prices is desirable in terms of efficiency. 2) It might be worthwhile to attempt to increase the size of farmland holdings per farm household so that the mechanization of farming can be achieved more easily. 3) A kun with large out-migration suffers a deterioration in income and welfare. Therefore, the government should provide a form of subsidization similar to the adjustment assistance provided for international trade. This assistance should not be related to the level of farm output. Otherwise, there is a possibility that we might encourage farm production which would not be profitable in the absence of subsidies. 4) Government intervention in agricultural research and its dissemination, and large-scale social overhead projects in rural areas, carried out by the Korean government, might be desirable from both efficiency and equity points of view. Government interventions in research are justified because of the problems associated with the appropriation of knowledge, and government actions on large-scale projects are justified because they required collective action.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.5
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• pp.125-141
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• 2021

The rapidly changing social structure of the digital environment is having a significant impact on economic activities. That is also an important issue for Individuals who want to sustain economic activities and countries that support policies. Non-face-to-face industries have been revitalized due to the problem of human capital utilization attributed to aging population, the real economic recession caused by Corona 19, contraction of face-to-face economic activities, reduction of employment, and job instability. Accordingly, digital media contents based economic activities have become commonplace, and the government's main policy issue is to use human capital effectively for media contents based economic activities. Adaptation to the digital environment has become a necessity, not a choice, for those who wish to continue to be in employment. Therefore, this study analyzed the effects of digital and individual abilities on intention to sustain the economic activity and verified the modulation effect of the role model. In order to achieve the purpose of this research, an online survey was conducted on men and women aged 20 to 80 nationwide, and 382 of the 385 collected questionaires were analyzed. The SPSS 23.0 program was used to analyze this study, and the questionaire questions were measured using the Likert 5-point scale. As a result of the analysis, first, the ability to utilize media contents in digital capacity has a positive impact on the intention to sustain economic activity, and that the higher the ability to utilize the latest digital media contents such as SNS, the more likely the intention to sustain economic activity. Secondly, it was found that the financial strength of individuals' abilities was affected by the negative impact, and that the experiences were affected by positive(+) impact on the intention to sustain economic activity. Thirdly, the social environment has no significant effect on the intention to sustain economic activity. Fourth, it was found that family support amongst social support has a positive impact on the intention to sustain economic activity, and that various emotional support for families has increased intention to sustain economic activity. Fifth, the role model was found to have a positive(+) impact on economic sustainability, while the ability to utilize media content and family support played a modulating role on economic sustainability. Therefore, as a result of this research, the government's policy support for employment and entrepreneurship is required in accordance with digital media content based digital education and human structure in order to sustain economic activities.