• Korean Journal of Construction Engineering and Management
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• v.18 no.2
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• pp.81-90
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• 2017

In Imjin River basin, three floods occurred between 1996 and 1999, causing many casualties and economic losses of 900 billion won. In Korea, flood damage is expected to increase in the future due to climate change. This study used the climate scenarios to estimate future flood damage costs and suggested a real options-based economic assessment method. Using proposed method, the flood control infrastructures in Imjin River basin were selected as a case study site to analyze the economic feasibility of the investment. Using RCP (Representative Concentration Pathway) climate scenarios, the future flood damage costs were estimated through simulated rainfall data. This study analyzed the flood reduction benefits through investment in the flood control infrastructures. The volatility of flood damage reduction benefits were estimated assuming that the RCP8.5 and RCP4.5 climate scenarios would be realized in the future. In 2071, the project option value would be determined by applying an extension option to invest in an upgrading that would allow the project to adapt to the flood of the 200-year return period. The results of the option values show that the two investment scenarios are economically feasible and the project under RCP8.5 climate scenario has more flood damage reduction benefits than RCP4.5. This study will help government decision makers to consider the uncertainty of climate change in the economic assessment of flood control infrastructures using real options analysis. We also proposed a method to quantify climate risk factors into economic values by using rainfall data provided by climate scenarios.

• Journal of Korea Port Economic Association
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• v.24 no.4
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• pp.153-171
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• 2008

The purpose of this paper is to estimate economic benefits for the investment of port hinterland. This research has conducted the empirical analysis, by calculating the investment of port hinterland. The key factor for the economic benefits for the hinterland is the utilizing throughputs. This demand is influenced by the throughput in the port. However the data is different between the different organizations. The positive opinions are prevailed about constructing of port hinterland by a optimistic view about throughput. However this paper analyzes the economic benefits by a pessimistic point of view. The main results of this paper are as follows: First, the port hinterland of Busan New Port does not have economic benefit for investment and the hinterland will face the overcapacity problem. We recommend that the plan for investment has to be considered the modification. Second, data of forecasted throughputs is an important factor for evaluation of hinterland's investment. The research for reliable forecasting of throughput has to be preceded for the pertinent evaluation of hinterland's investment.

• The Journal of Fisheries Business Administration
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• v.51 no.3
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• pp.1-15
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• 2020

The Korean government has been carrying out the marine ranch development project since 1998 with the purpose of responding to the decrease in coastal fishery resources and fishery income, preparing a systematic management system for the sustainable use of fishery resources and realizing advanced fisheries power by expanding and upgrading fisheries resource development projects. In addition, the government established the Korea Fisheries Resources Agency and promoted projects for the protection and management of fishery resources by increasing basic productivity by artificially creating marine forests in areas where whitening events occur. Since the project of building marine ranches and marine forests requires immense government financial support, it is important to estimate the economic value and thoroughly evaluate the feasibility of the project. In this paper, the project of non-market economic value of the development of marine ranches and the development of marine forests was estimated. CVM (Contingent Valuation Method) was applied as a methodology for benefits estimation. Prior to the analysis, a one-on-one interview survey was conducted with participation of 512 residents and 514 residents respectively for the project of creating a marine ranch and developing a marine forest. A DBDC (Double-Bounded Dichotumous Choice) model was applied in the WTP (Willingness To Pay) analysis model and the socioeconomic variables of the surveyor, such as sex, age, education and income, were reflected in the model. The economic benefits from the two projects, namely, building of marine ranches and developing marine forests were estimated to be equal to 4,608 won and 7,772 won per household per year, respectively. According to the results of the survey, it seems that respondents think that marine forests are more valuable than marine ranches. This is as a result of ordinary citizens' thought that the marine ranches are more cost-effective than the marine forests. The benefits estimated through this study can be used for analysis of economic feasibility prior to carrying out the project of building marine ranches and developing marine forests, and are considered to be the valuable for policy-making purposes and finding social and economic consensus.

• Journal of Korea Port Economic Association
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• v.30 no.3
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• pp.121-140
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• 2014

The purpose of this study is to identify economic benefits for analyzing the future port and propose an appropriate estimation model. This research has conducted the empirical analysis in order to examine the developed research model. First of all, several existing economic benefits are reviewed and the list of benefits, are able to quantify and characterizable, is selected for the next step. We test the application possibility of the proposed model applying for the three suggestions(AS/RS, OSS, Sky Rail) which are based on "Development of Smart Green Container Terminal Technology." The results of this paper are as follows: Firstly, all of the alternatives are proved economic validation because the values of B/C analysis are over 1.0. Secondly, sensitive analysis is attempted to test unforeseeable circumstances based on the cost increases. The result of the test is identified economic validation as well. Lastly, we convince that the proposed research model in this study is particularly applicable to future container terminal so-called "eco-friendly and fully automated container terminal with high productivity."

• The Journal of Fisheries Business Administration
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• v.36 no.3 s.69
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• pp.119-139
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• 2005

The purpose of this paper is to provide information that will help both fishing industry and fisheries authority understand the principals of individual transferable quota(ITQ) fishery management. Theoretical frameworks and primary features of ITQ fishery managemenet are the assignment of exclusive property rights for harvest of common - property fisheries resources. An ITQ fishery management is fundamentally different from the conventional fishery management and it gives an individual fisherman the right to catch a specified quantity of fish, his quota. With ITQ, fisherman's quotas are transferable, in whole or in part. An ITQ is a property with certain rights of use, namely, the right to catch a given quantity and species of fish in a specific location during a specific period of time. The right is exclusive in the sense that no one else has the right to use the quota without the owner's permission. The property may be assigned, traded, and exchanged; i.e., the owner has the right to transfer an ownership to others. An ITQ fishery management leads to both economic efficiency and resource conservation. Motivations to overexploit stocks and to overcapitalize should be lessened because fishermen no longer have to compete for limited resources. There are significant positive net benefits and advantages with ITQ fishery management than without. The potential benefits and advantages of ITQ fishery management include increased profits, economic stability, improved product quality, safer working conditions, less gear conflict, elimination of the race - to - fish phenomenon, less by - catch, less gear loss, improved investment climate, mitigation of market gluts, waste reduction, addition to fisherman's wealth, and compensation for fisherman exiting the fishery. As an independent observe to Red Crab Trap Fishery some of the benefits, problems, and effects, an ITQ fishery management in Red Crab Trap Fishery is still far from to be implemented. Many different and difficult aspects (biological, socioeconomics, administrative) are involved considering the implementation of ITQ fishery management in Red Crab Trap Fishery. Among other fishery management tools, the implementation of ITQ fishery management in Red Crab Trap Fishery is considered to be the best in achieving the better conservation of fisheries resources and their more economic and rational exploitation. Korean fisheries authority should pay great attention to the experience of the economic effects of the ITQ fishery management in Red Crab Trap Fishery in the hope of being able to implement at least some of those experiences into the Korean fishery management.

• Journal of Forest and Environmental Science
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• v.28 no.4
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• pp.254-262
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• 2012

The purposes of the research in related to FSC in JuJe experimental forests (JJEFs) is to make pre and post socio-economic comparisons and play an important role of FSC, and recognition change to FSC timbers and to make an analysis to consumers' needs. As the results of onsite survey in 2005, respondents show a high awareness of SFM and FSC in comparisons of 2004, and the JJEFs play a critical role to make SFM and FSC advertisement worldwide, such as consumers' satisfaction to SFM and FSC is high. Hence provision of JJEF information such as job creation and socio-economic impacts to stockholders could make their satisfaction improving. Most of respondents to the FSC of JJEF represent a positive rate while low awareness to FSC timber is represented. Therefore, necessary information about JJEF FSC with forest management, process and consumption pattern of FSC is required into citizens. The final results prove that FSC effects such as 1.3 billion won direct additional benefits in terms of socio-economic aspects including environmental benefits and job creation and economic effects are enough to offset 1.3 billion won additional costs.

• The Journal of the Korea Contents Association
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• v.22 no.10
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• pp.627-641
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• 2022

Although CSV means pursuing social and economic values at the same time, research on consumer benefits recognized by consumers, the subject of economic value, is insufficient. The purpose of this study is to investigate the effect of CSV activities of financial companies on purchase intention through consumer benefits and psychological distance for consumers. 265 copies of survey data were collected, and the research hypothesis was verified using SPSS 25.0 and Smart PLS 3.0. As a result of the analysis, first, fairness and authenticity had a positive (+) effect on both social and personal benefits. Second, it was found that the social and personal benefits subjectively perceived by consumers had a positive (+) effect on both purchase intention. Third, it was found that the social benefits perceived by consumers through CSV activities of financial companies had a positive (+) effect on purchase intention through psychological distance, but the mediating effect of personal benefits was not significant. Based on these research results, practical proposals were made to increase the efficiency of CSV activities by grasping the effect of consumers and purchase intentions on CSV activities of financial companies, and conclusions, implications, and future research directions were presented.

• Journal of Navigation and Port Research
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• v.42 no.5
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• pp.331-340
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• 2018

Shipping containers promote rapid development of the transport industry, and generate economic and social value. However, problems often occur due to imbalance in dynamics between exports and imports, container relocation, traffic congestion, and general shipping network designs. So, efficient and cost-effective cargo management has become crucial for the Jeju Island - Mokpo container route (JMCR) in South Korea. Dozens of recent studies reveal that collapsible or foldable containers, may become an innovative solution to problematic issues within the shipping industry. The major purpose of this study is to discuss conditions required for successful commercial application of foldable containers, based on a cost-benefit analysis precisely for the JMCR. Findings reveal usage of foldable containers can be cost-effective, if containers make a "FULL<->EMPTY" route. To the contrary, a "FULL<->FULL" route can drastically increase expenditure. However, economic analysis of actual figures for 2010-2015 indicate that benefits for Mokpo - Jeju direction are significant to cover losses on the Jeju - Mokpo line. Seasonal patterns and mixing percentages of foldable and standard containers on the route, may also produce cost-effective solutions. Sensitivity analysis reveals that benefits from using foldable containers, depend mostly on empty container shares in addition to various extra costs.

• The Korean Journal of Ecology
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• v.23 no.4
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• pp.339-345
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• 2000

Heilongjiang Province has set up 104 nature reserves, with a total area of 2,641,700 ha, or 5.88% of the total area of the province. These constitute a network of nature reserves comprising most important types of nature reserves. and play an active role for improving the protection of the ecological environment and for the continuous economic and social development of the province. But in the management of these nature reserves, there are still some problems with people's idea, with educating the public, and with capital investment. These problems should be treated seriously. To preserve our natural heritage and biodiversity and to promote the sustainable development of our society and economy, it is projected that by the year 2000. the number of nature reserves in Heilongjiang is to reach 109, covering 6.17% of the total land area of the province. This percentage will be further increased to 8.62% by 2010, at which time the network of nature reserves is to have a proper distribution and comprehend all the important types of nature reserves. This will ensure the healthy development of the cause of nature conservation. with systematic planning, active protection. and sustainable use, so that ecological and social benefits can be developed hand in hand with economic benefits.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.21 no.2
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• pp.71-78
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• 2009

Up until recently, the energy and the economic analysis of a cogeneration system have been implemented by a manual calculation that is based on monthly thermal loads of buildings. In this study, a cogeneration system modeling validation with a detail building energy simulation, eQUEST, for a building energy and cost prediction has been implemented. By analyzing the hourly building electricity and thermal loads, it enables users to decide proper cogeneration system capacity and to estimate more accurate building energy consumption. eQUEST also verified the energy analysis when the heat pump system is integrated with the cogeneration system. The mechanical system configuration benefits from the high efficiency heat pump system while avoiding the building electricity demand increase. Economic analysis such as LCC (Life Cycle Cost) method is carried out to verify economical benefits of the system by applying actual utility rates of KEPCO(Korea Electricity Power COmpany) and KOGAS(KOrea GAS company).