• Journal of Korea Port Economic Association
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• v.25 no.3
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• pp.321-338
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• 2009

This study looks at the reasons behind the termination of container transportation between Busan and Incheon in terms of costs structure, the division of profit, and the economic limitation faced in the domestic shipping market. The operation costs have been examined in relation to the components of logistic system of container shipping and the cost function has been estimated. The distribution proportion of operation revenue has been also investigated, considering the different components of logistics activities. In addition, the average revenue of container vessels of 144TEU and 215TEU has been calculated. Economic limitation can be analysed through the optimisation behaviour of shipping companies which tries to maximize profit or minimize loss. In conclusion, domestic short sea shipping can get the economy of scale only by transporting vessels' maximum capacity. It is also vulnerable to trucking market's fluctuation. Without the subsidy for operation, the liner in domestic short sea shipping will stop the service in order to minimize the loss.

• Journal of Distribution Science
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• v.22 no.3
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• pp.49-58
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• 2024

Purpose: Research on financial development plays a crucial role in guiding and implementing policies for both financial development and economic growth. This study aims to evaluate the impact of financial development on the economic growth of Southeast Asian countries. Research design, data and methodology: The research utilizes data from 11 Southeast Asian countries from 2015 to 2022. Financial development data is proxied by credit distribution in private sector. Results: Based on the analysis using the FGLS model, it indicates that financial development has a positive impact on the economic growth of Southeast Asian countries. In addition, the study also examines the impact of state investment costs and FDI investment on economic growth. The results also show that foreign direct investment flows still play an important role in Southeast Asian countries (FDI has a positive impact on economic growth). State investment costs also impact economic growth, showing that the development of public investment also brings good development to countries. Conclusions: These results suggest that credit policies for financial development in general, and the development of private credit in particular, play a significant role in these countries. Building a system to promote the activities of private sector economies will help stimulate the economic development of Southeast Asian countries.

• KDI Journal of Economic Policy
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• v.37 no.1
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• pp.1-18
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• 2015

A reduction in search costs is generally believed to make markets more competitive. However, the effect may be mitigated or amplified if consumers must pay costs for switching products. This paper investigates how search costs affect prices in the presence of switching costs using U.S. domestic airfare data for 2000-2010. The airline industry experienced a dramatic decrease in search costs with increasing Internet use in the 2000s. At the same time, the industry is known for its frequent flyer programs (FFPs), which increase switching costs for consumers. We use the average network size of airlines in a market as a proxy for switching costs related to FFPs and Internet usage as a proxy for (the inverse of) search costs. The results show that increasing Internet usage lowers airfares but that the effect is smaller for markets with a larger average network size.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.56 no.3
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• pp.258-264
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• 2020

This study aimed to analyze the economic feasibility of the reduction of working safety accidents in stow net fishery through the prevention education to fishing crews. The benefit was evaluated by estimating insurance payment amount that was reduced through prevention education. The decreasing rate of working safety accidents was presumed to follow the experience in Japan. The cost was assumed as the cost of textbook development. Results indicated that IRR was estimated to be 79.9% in case of scenario assuming no additional operating costs while IRR was 56.3% in case of scenario assuming 10% additional operating costs. In addition, the economic feasibility would be secured when annual operating costs increased to 274 million won according to the result of sensitivity analysis.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2012.05a
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• pp.47-48
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• 2012

In this study, the CO₂ emission and economic efficiency of high-rise apartment houses were evaluated, and were analyzed as a way to establish database on the evaluation of environment-friendliness of high-rise buildings. To that end, standard of buildings to be evaluated were proposed through analysis of the designing guideline for high-rise apartment houses proposed by Seoul city, and CO₂ emission of the subject buildings were evaluated based on the characteristics of materials admitted into each building and the amounts of energy consumed during lifecycle period. In addition, the initial costs in construction stage and annual costs in operation stage were set as analysis parameters, and along with calculation of direct cost by the consumption of construction materials and energy, the costs of CO₂ emission were evaluated and analyzed. As a result, the CO₂ emission and economic efficiencies of high-rise apartment houses by construction stage and operation stage could be analyzed quantitatively.

• Journal of Electrical Engineering and Technology
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• v.6 no.1
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• pp.8-13
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• 2011

Reliability differentiated pricing (RDP) is known to improve the efficiency and benefits of consumers and producers. Outage costs representing the economic and non-economic consequences of service curtailments to customers can be used as an effective parameter of RDP in electricity markets. This paper examines the theoretical aspects of an RDP scheme, and derives the optimal decisions of consumers and electric utilities for long-term transactions. The proposed RDP is demonstrated through a case study on a wheeling service.

• Asian Pacific Journal of Cancer Prevention
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• v.15 no.6
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• pp.2713-2717
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• 2014

Background: Cancer imposes significant economic challenges for individuals, families, and society. Households of cancer patients often experience income loss due to change in job status and/or excessive medical expenses. Thus, we examined whether changes in economic status for such households is affected by catastrophic health expenditures. Materials and Methods: We used the Korea Health Panel Survey (KHPS) Panel $1^{st}-4^{th}$ (2008-2011 subjects) data and extracted records from 211 out of 5,332 households in the database for this study. To identify factors associated with catastrophic health expenditures and, in particular, to examine the relationship between change in economic status and catastrophic health expenditures, we conducted a generalized linear model analysis. Results: Among 211 households with cancer patients, 84 (39.8%) experienced catastrophic health expenditures, while 127 (40.2%) did not show evidence of catastrophic medical costs. If a change in economic status results from a change in job status for head of household (job loss), these households are more likely to incur catastrophic health expenditure than households who have not experienced a change in job status (odds ratios (ORs)=2.17, 2.63, respectively). A comparison between households with a newly-diagnosed patient versus households with patients having lived with cancer for one or two years, showed the longer patients had cancer, the more likely their households incurred catastrophic medical costs (OR=1.78, 1.36, respectively). Conclusions: Change in economic status of households in which the cancer patient was the head of household was associated with a greater likelihood that the household would incur catastrophic health costs. It is imperative that the Korean government connect health and labor policies in order to develop economic programs to assist households with cancer patients.

• Journal of the Architectural Institute of Korea Planning & Design
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• v.34 no.3
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• pp.23-34
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• 2018

Due to a waste of energy in korea, about 525,000 which are 75 percent of total buildings are at least 15 years old buildings that need remodeling. There are two current remodeling systems. One is a remodeling system to reduce a waste of resources from the reconstruction. The other is a green-remodeling system aimed to energy savings and reducing environmental costs. This study is to analyze quantitatively these current systems with respect to the cost-benefit caused by the life cycle and suggests the political and institutional implications through the interpretation of the results. For a quantitative analysis, we analyzed reducing maintenance costs and rent benefits with simulation by using opportunity costs, construction costs, plan costs and supervision costs as expense variables and using the reduced floor area ratio, institutional incentives, energy, water resources and certified emission reduction(CER) as benefit variables. As a result of the empirical study, the green-modeling was more beneficial in the field of environment such as the energy savings, however, the final benefits of remodeling which has no green building certification costs but more floor area ratio incentives were more economical. The green-remodeling system focused on reducing environmental costs and energy savings needs a equatable institutional incentive system.

• Journal of Electrical Engineering and Technology
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• v.11 no.1
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• pp.38-46
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• 2016

This study analyzes the economic efficiency of the virtual power plant (VPP) model that aims to integrate a number of emergency generators installed at the consumer end and operate them as a single power plant. Several factors such as the demand response benefits from VPP operation and costs incurred for converting emergency generators into VPP are considered to assess the economic efficiency of the proposed VPP model. Scenarios for yearly VPP conversion are prepared based on the installed capacities of the emergency generators distributed in South Korea, while the costs and benefits are calculated from the viewpoints of participants and power companies in accordance with California Test Methods. Furthermore, a sensitivity analysis is conducted on the cost factors among those affecting the economic efficiency of VPP business because these two factors have a great impact on benefits.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.18 no.4
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• pp.165-170
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• 2004

This paper presents summary results of direct interview survey of Korean industrial customers conducted to evaluate the direct and short duration interruption costs resulting from local random electrical supply interruptions. The cost is evaluated using the questionnaires authors designed, which are mainly on the experience or preparatory actions consumers predicted they would take. Economic evaluation of reliability that traditionally takes into account duration and frequency of interruption does not accurately reflect the lost value or economic impacts of industrial customer, especially large size, caused by any kind of interruption. So, to imply the substantial difference in costs incurred by different customer group, the authors apply the international standards, i.e. IEC, IEEE, to the analysis on the interruption costs.