• Knowledge Management Research
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• v.18 no.1
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• pp.67-81
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• 2017

As the important breakthrough continues in the field of machine learning and artificial intelligence recently, there has been a growing interest in the analysis and the utilization of the big data which constitutes a foundation for the field. In this background, while the economic value of the data held by the corporates and public institutions is well recognized, the research on the evaluation of its economic value is still insufficient. Therefore, in this study, as a part of the economic value evaluation of the data, we have conducted the economic value measurement of the data generated through the small business guarantee program of Korean Federation of Credit Guarantee Foundations (KOREG). To this end, by examining the previous research related to the economic value measurement of the data and intangible assets at home and abroad, we established the evaluation methods and conducted the empirical analysis. For the data value measurements in this paper, we used 'cost-based approach', 'revenue-based approach', and 'market-based approach'. In order to secure the reliability of the measured result of economic values generated through each approach, we conducted expert verification with the employees. Also, we derived the major considerations and issues in regards to the economic value measurement of the data. These will be able to contribute to the empirical methods for economic value measurement of the data in the future.

• 한국데이터정보과학회:학술대회논문집
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• 2004.10a
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• pp.25-32
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• 2004

In this study, we use various change-point detection methods to detects Korea economic crisis of 1997, and then compares their performance. In change-point detection method, there are three major categories: (1) the parametric approach, (2) the nonparametric approach, and (3) the model-based approach. Through the application to Korea foreign exchange rate during her economic crisis, we compare the employed change-point detection methods and, furthermore, determine which of them performs better.

• Journal of the Korean Data and Information Science Society
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• v.15 no.3
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• pp.585-592
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• 2004

This study detects Korea economic crisis of 1997 using various change-point detection methods and then compares their performance. In change-point detection method, there are three major categories: (1) the parametric approach, (2) the nonparametric approach, and (3) the model-based approach. Through the application to Korea foreign exchange rate during her economic crisis, we compare the employed change-point detection methods and, furthermore, determine which of them performs better.

• Journal of Electrical Engineering and Technology
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• v.3 no.3
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• pp.320-330
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• 2008

This paper presents an improved dynamic programming (IDP) approach to solve the economic power dispatch problem including transmission losses in power systems. A detailed mathematical derivation of recursive dynamic programming approach for the economic power dispatch problem with transmission losses is presented. The transmission losses are augmented with the objective function using price factor. The generalized expression for optimal scheduling of thermal generating units derived in this article can be implemented for the solution of the economic power dispatch problem of a large-scale system. Six-unit, fifteen-unit, and forty-unit sample systems with non-linear characteristics of the generator, such as ramp-rate limits and prohibited operating zones are considered to illustrate the effectiveness of the proposed method. The proposed method results have been compared with the results of genetic algorithm and particle swarm optimization methods reported in the literature. Test results show that the proposed IDP approach can obtain a higher quality solution with better performance.

• Journal of Appropriate Technology
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• v.6 no.1
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• pp.65-78
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• 2020

This paper deals with challenges of Mongolian government regarding Economic Development Plan (hereafter EDP). EDP has a long history, appearing first in the socialist countries, then in European countries following the European Reconstruction Plan after the Second World War, and then in many developing countries after they gained independence from the colonial rule. Major challenges of the Mongolian EDP are largely related to the absence or lack of integrated approach. We will propose a new integrated framework based on the approach suggested by UNDP. The new framework consists of 5 core areas; 1) institutions and governance, 2) evidence-based and empirically backed policy options, 3) development of budgeting and financial system, 4) and monitoring and evaluation (M&E), 5) capacity development. In order to identify challenges in Mongolia, the new integrated approach was applied to diagnose current states. To understand current states of EDP in Mongolia, survey regarding EDP in Mongolia was conducted for the 43 officials of Ministry of Finance. The same approach was applied for Five-Year Economic Development Plans in Korea to compare performances with EDP in Mongolia. On the basis of comparative analysis of EDPs in Mongolia and Korea, some lessons are suggested.

• International Journal of Human Ecology
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• v.9 no.2
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• pp.1-11
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• 2008

This paper examines the value of unpaid care work using the 2004 time use survey and compared them to economic measures such as GDP, tax revenue, value of paid work, government expenditure on care-related personnel expenditure and remuneration of paid care workers. It employs the mean earnings approach and generalist approach. It finds that the value of unpaid care work (compared to GDP) is between 18% and 29% using different approaches. The value of care of household members and for others in the community (person care) is between 5% and 8%. Furthermore, the value of unpaid care work is greater than that of direct tax regardless of the approach used. In addition, the value of person care is estimated at between 22% and 35% of the total value of the paid economy. The value of unpaid care work far exceeds the value of government expenditure on care-related personnel and the remuneration of paid care workers. This research suggests that unpaid care work (mostly conducted by women) should be recognized as part of production activities. This is because caring and household maintenance activities are necessary for individual well-being but also it contributes to the national economic competitiveness particularly through human resource development.

• Proceedings of the KIEE Conference
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• 1997.07c
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• pp.1106-1108
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• 1997

This paper presents a new approach on genetic algorithms to economic dispatch problem for valve point discontinuities. Proposed approach in this paper on genetic algorithms improves the performance to solve economic dispatch problem for valve point discontinuities through combination in penalty function with death penalty, generation-apart elitism, atavism and heuristic crossover. Numerical results on an actual utility system consisted of 13 thermal units show that the proposed approach is faster and robuster than classical genetic algorithm.

• KDI Journal of Economic Policy
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• v.39 no.4
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• pp.25-50
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• 2017

Whereas a large variety of previous studies show mixed results regarding the relationship between public investment and economic outcome, several studies have been conducted on related issues in Korea. The present study deals with the effect of public investment in Korea on economic growth and productivity. Using administrative data, it exploits three different methodologies: the total factor productivity approach, production function approach, and stochastic frontier production function approach. The results of this study show that public investment has a statistically significant effect on economic growth. However, it contributes little to enhance productivity. It is explained that there exists inefficiency of production in the Korean economy. These findings indicate that public investment has played a central role in the direct input factor and not in indirect role in Korea. Thus, it is necessary for public investment policies to concentrate on enhancing the efficiency of the Korean economy.

• Journal of The Korean Society of Agricultural Engineers
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• v.55 no.2
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• pp.9-20
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• 2013

Many studies have reported additional treatment is needed to use wastewater for agricultural purpose. Economic considerations should be taken into account to establish infrastructure for agricultural reuse because of a large amount of water use in irrigation and relatively low water quality requirement. The objective of this study was to conduct economic analysis of wastewater reclamation and reuse systems for agriculture. A system dynamics approach considering complexity and dynamics in the wastewater reuse systems was used for the economic analysis, which are related with social, environmental, and economic problems. Sensitivity and benefit cost analysis for wastewater reuse systems was conducted through the established economic assessment model. The result of sensitivity analysis showed that water resources development and installation cost were the most sensitive for total benefits and costs, respectively. The scenario-based test of the organized economic assessment model shows marginal cost ranges and enables decision-makers to decide reasonable cost for the wastewater reuse systems for agriculture.

• Journal of the Korean Regional Science Association
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• v.15 no.1
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• pp.23-43
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• 1999

The strategy of regional industrial specialization is empirically evaluated by examining the relationship between regional industrial structures and economic performances. The regional industrial structure is measured by three industrial diversity indices such as ogive approach, entropy maximizing approach, and economic growth and employment instability in 12 regions is analyzed. According to the time series analysis, we found that the region with more diversified industrial structure experiences more stable in employment. Otherwise, the growth rate of the region with more simplified industrial structure is higher. Therefore, the strategy of industrial specialization is implemented in order to pursuit a rapid economic growth in the short run.