• Korean Journal of Construction Engineering and Management
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• v.19 no.2
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• pp.96-106
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• 2018

The government adopted activation policy of real estate to overcome low economic growth rate. Real estate activation plan adopted by the government raised credit limit by lowering the regulation, and reduced real estate investment cost by reducing the base rate. Also, delayed transfer tax on multi-house owner to activate real estate investment and resolved purchase right resale. Relief of real estate regulate caused increase of housing sales and price increase, and the real estate market changed to overheating aspect such as premium upon completion of lot sale in a short time. Such market atmosphere greatly increased household debs as owners own houses based on 'financial debt' instead of their income. Since 2017, real estate policy was reinforced to reduce household debts and lending rate was raised due to rise of base rate, accordingly, burden of household debt is expected to increase. This research suggested a plan for the Financial Supervisory Service to efficiently manage the financial world by analyzing the cause and problem of household debs.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.51-61
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• 2020

This research investigates the consequences of the increase in corporate use of short-term debt in China over the past decades. Using a sample of Chinese firms from 2007 to 2018, we empirically explore the effect of corporate use of short-term debt for long-term investment (SFLI) on audit pricing. We first examine the relationship between SFLI and audit pricing for different groups of firms. Then, we investigate the role of the increase in short-term debt in alleviating principal-agent conflicts and reducing agency costs. We have four primary empirical findings. First, auditors tend to charge SFLI clients higher fees. Second, the negative relationship between SFLI and audit fee is found in private firms, firms audited by Chinese domestic auditors, and firms with higher information asymmetry. Third, the time auditors spent on SFLI clients is significantly more than that spent on non-SFLI clients, suggesting that the decrease in audit fee is not due to the decrease in cost. Fourth, SFLI significantly reduces the agency costs of the firm, which auditors regard as a low risk signal and grant an audit fee discount. Our findings suggest that the decrease in debt maturity, not only influences managerial behaviors, but also influences auditors' risk assessment and pricing decisions.

• Journal of Korea Port Economic Association
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• v.21 no.1
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• pp.45-58
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• 2005

The purpose of this study is to consider the problem on pursuit of logistics strategy by our international shipping company in international shipping business under the said circumstance due to the open international shipping market and to suggest the logistics strategy for the consideration of the logistics competition under new international shipping circumstances. The results of empirical analysis are mentioned as follows; First, it shall be considered to maintain the size of company bigger than a certain capability so that it may obtain the superior competition of logistics. Second, as there are the plus correlations between the competition of logistics and the logistic support, it is necessary to pursuit the upgrade service with using EDI system and making up the complex shipping and integrated logistics system in general. Third, with the rationalization of finance policy and the profitable management of shipping company the ratio of net worth can be raised and it can be achieved to make the sound financial structure as reducing the excessive debt ratio. Fourth, it can be effort continuously to perform the investment for the infrastructure of logistics support & the institutional supplement so that it may achieve to increase the efficiency of logistic support at pier and to reduce the cost of logistic support.

• International Journal of Railway
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• v.2 no.1
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• pp.1-7
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• 2009

The development of structural solutions for high-speed or very high-speed tracks that minimize total life cycle costs of the system is a key issue to improve the operational profitability of new investments. In opposition to conventional ballasted tracks, slab track solutions can be a cost-effective solution, but only in the cases where the benefits due to the increase in track availability and the reduction of track maintenance offsets its much higher construction costs. In the cases where such investment is not feasible, it is worth to evaluate possible structural improvements to ballasted track that allow reducing its maintenance needs without increasing too much its construction costs. This paper evaluates the design requirements and the impact of improving conventional high-speed ballasted tracks by using a bituminous subballast layer. It is divided into two main parts: first the design requirements of the structural solutions with bituminous subballast and its possible benefits on high-speed track deterioration, and secondly the evaluation of the economic impact, in terms of construction costs, of using this structural solution material in future Spanish high-speed lines.

• Proceedings of the Korea Water Resources Association Conference
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• 2023.05a
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• pp.169-169
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• 2023

Most distributed water is not used effectively due to water loss occurring in pipe networks. These water losses are caused by leakage, typically due to high water pressure to ensure adequate water supply. High water pressure can cause the pipe to burst or develop leaks over time, particularly in an aging network. In order to reduce the amount of leakage and ensure proper water distribution, it is important to apply pressure management. Pressure management aims to maintain a steady and uniform pressure level throughout the network, which can be achieved through various operational schemes. The schemes include: (1) installing a variable speed pump (VSP), (2) introducing district metered area (DMA), and (3) operating pressure-reducing valves (PRV). Applying these approaches requires consideration of various hydraulic, economic, and environmental aspects. Due to the different functions of these approaches and related components, an all-together optimization of these schemes is a complicated task. In order to reduce the optimization complexity, this study recommends a sequential optimization method. With three network operation schemes considered (i.e., VSP, DMA, and PRV), the method explores all the possible combinations of pressure management paths. Through sequential optimization, the best pressure management path can be determined using a multiple-criteria decision analysis (MCDA) to weigh in factors of cost savings, investment, pressure uniformity, and CO₂ emissions. Additionally, the contribution of each scheme to pressure management was also described in the application results.

• Journal of the Korean Solar Energy Society
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• v.28 no.5
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• pp.14-20
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• 2008

As the number of buildings that use the transparent permeation materials as the outer wall is on the increase, the coming amount of the light rays is a lot, and thus the increase in the cooling load and the radiant heat of high temperature may cause the residents to discomfort. In order to reduce such influences, this paper analyzed the installation effects of the sunshade BIPV. The inner temperature of the room installed the sunshade BIPV or otherwise was measured, and compared and analyzed the effects of reducing the cooling load by the incoming light rays. The sample space of the third floor of S university installed the sunshade BIPV has two rooms on the same conditions, and for five sunny days selected in August, the researcher measured the air temperature and the temperature of the fittings with closing the windows to minimize the movement of air without operating the coolers. The maximum cooling load measured by the incoming light rays in the room where the sunshade BIPV was not installed was examined as 459.13kcal/h. It can be understood as the effect of reducing the cooling load according to the incoming rays of the room with sunshade BIPV. Even though the effect of cooling load reduction is not so great in a room, the total reduction in cooling room for the 32 rooms installed the sunshade BIPV was estimated to be 40442.27kcal/day, which will be able to bring the maximum reduction effect of 17.1kW in energy and reduce the investment cost owing to the reduction in cooling load when initially designing the building.

• Journal of Korean Society of Transportation
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• v.28 no.6
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• pp.17-24
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• 2010

As various social problems occur due to increasing traffic accidents, the government has setup and executed strong safety policies. As a result, the number of traffic accidents and the death toll have been decreasing in recent years. However, the setup and execution of the various policies for reducing traffic accidents cost much, so it is necessary to evaluate the cost-effectiveness of each policy. In the present study, enforcement by means of an unmanned over-speed enforcement system, the enforcement effect of which was proven good compared to the cost required for traffic enforcement, is compared with enforcement by policemen. As a result of the comparison, the average speed was 82.66 km/h before the use of unmanned systems and policemen; the average speed with manned enforcement was 70.57 km/h; and the average speed with unmanned systems was 67.85 km/h. The speed limit violation rate was 65% before the use of unmanned systems and policemen; 32% with manned enforcement; and 15% with unmanned systems. Considering the kinds of vehicles, the average speed and violation rate were highest among private cars, then vans, and then trucks.. Considering lanes. The accident rate was estimated based on the above results, and the input cost-to-advantage was estimated. The annual cost-to-advantage was estimated by comparing the above estimated values with the conditions before the unmanned over-speed enforcement system. Subsequently, the enforcement by policemen showed a negative advantage of 76,130,590 won, and the enforcement by the unmanned system showed a positive advantage of 38,577,670 won.

• Current Photovoltaic Research
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• v.4 no.3
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• pp.124-129
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• 2016

Recently industry has voiced a need for optimally designing the production process of low-cost, high-quality ingots by improving productivity and reducing production costs with the Czochralski process. Crystalline defect control is important for the production of high-quality ingots. Also oxygen is one of the most important impurities that influence crystalline defects in single crystals. Oxygen is dissolved into the silicon melt from the silica crucible and incorporated into the crystalline a far larger amount than other additives or impurities. Then it is eluted during the cooling process, there by causing various defect. Excessive quantities of oxygen degrade the quality of silicone. However an appropriate amount of oxygen can be beneficial. because it eliminates metallic impurities within the silicone. Therefore, when growing crystals, an attempt should be made not to eliminate oxygen, but to uniformly maintain its concentration. Thus, the control of oxygen concentration is essential for crystalline growth. At present, the control of oxygen concentration is actively being studied based on the interdependence of various factors such as crystal rotation, crucible rotation, argon flow, pressure, magnet position and magnetic strength. However for methods using a magnetic field, the initial investment and operating costs of the equipment affect the wafer pricing. Hence in this study simulations were performed with the purpose of producing low-cost, high-quality ingots through the development of a process to optimize oxygen concentration without the use of magnets and through the following. a process appropriate to the defect-free range was determined by regulating the pulling rate of the crystals.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.39 no.1
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• pp.140-152
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• 2016

It is very important for the competitiveness and sustainable management of enterprises that the rapid changes in the managerial environments quickly and accurately are responded. For example, the large-scale investment accompanied by bad alternatives in accordance with misunderstanding of the managerial environments yields the huge cost and effort to modify and improve. In firm management, the quality of products and the productivity are influenced by changes of the endogenous factors yielded in manufacturing process and the exogenous factors as market, etc. These changes include not only changes in 4M (man, machine, material, method) but also those in the market, competitors, and technologies in the process of commodification, i.e., first, such disturbances make dispersion of the process big and odd. By Shewhart chart it can be checked that the process monitored is control-in or out. Business administration executes activities for input stabilization by monitoring changes in 4Ms, comparing with the standards, and taking measures for any abnormality. Second, TRM (technology road map) is to prospect product deployment and technological trend by predicting technologies in the competitive environment as the market, and to suggest the future directions of business. So, TRM must be modified and improved according to DR (design review) stages and changes in mass-production like input material change. Therefore, a role of TRM in input stabilization for reducing cost and man-hour is important. This study purposed to suggest that the environment changes are classified into endogenous factors and exogenous factors in production process, and then, quality and productivity should be stabilized efficiently through connection between TRM and input stabilization, and to prove that it is more effective for the display industry to connect TRM with input stabilization rather than to use TRM separately.

• Journal of the Korea Society for Simulation
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• v.18 no.3
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• pp.147-154
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• 2009

In this study we investigate the problem of reducing color change cost at painting operations in an automobile assembly plant. Changing control logic at conveyor junction points prior to the top coat line has been proposed and analyzed using the discrete event simulation model we developed using AutoMod. We also discussed the project which initiated this research as well as the details of painting operations. Simulation analysis showed that the grouping ratio increases from 1.8 to 2.5 if the proposed control logic change is applied to the plant. Contrary to other approaches such as using dedicated equipment for resequencing, our approach has the merit of less investment cost, no need for additional space consumption. We finally note that the grouping ratio can be further increased if our algorithms is implemented as well as CRS (Color Rescheduling Storage) is installed.