• Journal of Digital Convergence
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• v.13 no.4
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• pp.61-68
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• 2015

This study aims to estimate the economic effects of the simulation golf industry. Two steps are taken. Step 1 is to calculate the direct effect which includes input required to install the facility and consumer's fee to pay for the simulation golf, and the indirect effect which includes the introduction of the field golf course derived from simulation golf. Step 2 is to calculate the production, value added and employment inducement effect. As a result of this calculation, total production inducement effect is 3.6 trillion won, value-added inducement effect is calculated at about 1.66 trillion won, while employment inducement effect is 34.6 thousand people in 2011. This study is expected to contribute to providing a basis for the policy to support the simulation industry and for estimation of the economic effect in the different simulation industry such as the simulation baseball.

• Journal of the Korean Society for Library and Information Science
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• v.44 no.4
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• pp.231-247
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• 2010

This research examines a number of theoretical and practical issues when measuring the economic value of library services. In particular, using two recent studies conducted in Korea as illustrations, the study shows how various measurement decisions affect the final outcomes in the economic valuation of library services and thus points to the need for a more reliable study design. Specific areas of measurement discussed include the following: scope of measurement, application of CVM(Contingent Valuation Method), time vs. monetary value measurement, dealing with outliers, allowing alternatives, and the use of estimation. ROI(Return on Investment) scores or benefit cost ratios vary significantly according to different measurement choices even in the same study. There is a need for collecting qualitative data that complements the quantitative data typically collected in economic valuation studies. The outcome of economic valuation of library services should be considered as one of many representations of library values. Practitioners and researchers should exercise caution in interpreting those results but be able to leverage them to better communicate the value of library services.

• Journal of Korea Trade
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• v.24 no.7
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• pp.29-37
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• 2020

Purpose - This paper empirically investigates the relationship between country governance quality and worker remittances from foreign countries. Because remittances can be a source of funds for economic development and smoothing economic crises in developing countries, the related topic has been a concern for policy-makers and academic researchers. This paper divides the motives of remittances into altruistic and investment motives through existing papers, and then considers the governance quality the remittance receiving country as one of the determinants of remittances. Design/methodology - Our empirical model considers whether governance quality can affect the volume of remittances, and uses altruistic and investment factors studied in the literature. To do this, a two-step approach is taken. First, the panel data are examined via pooled OLS, random effects, and Tobit estimation. Second, the paper reduces six governance indicators into one variable, Governance, using the principal component technique (PCA) for a robustness check. Findings - The main findings can be summarized as follows. The negative governance variable in the estimation results shows a lower governance quality that induces workers to send savings to their home countries. This means that a country with poor governance quality seems to have more remittance inflows from abroad. It also reveals that poor governance quality is more relevant to an altruistic motive rather than an investment motive, in general. The positive per capita GDP variable shows the investment motive for developed countries. Originality/value - Existing papers have focused on various factors related to the motives of remittances. However, governance quality effects on remittance inflows have not been fully studied so far. This paper considers governance quality in an estimation equation explicitly as one of the determinants of remittances. This area of study is needed, in theory and empirically, in order to fully understand the relationship between governance and remittances.

• Journal of Korea Trade
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• v.23 no.8
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• pp.45-72
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• 2019

Purpose - This study examines the mediating effect of switching costs (economic risk costs and setup costs) on the relationships of country image with product attitude and product attachment. Switching-cost effects for the Korean Wave, which are insufficiently addressed in the literature, were investigated using the country image of Korea as a proxy for the Korean Wave. Moreover, this study examined the economic effects of the Korean Wave and the negative effect of the Terminal High Altitude Area Defense (THAAD) deployment on these economic effects. Design/methodology - A total of 302 Chinese consumers were surveyed using a questionnaire. Because this was an exploratory study and was not based on a classical model, the PLS-SEM method was employed to test the stability of the model and its hypotheses. Findings - Switching costs had mediating effects on the relationships of country image with product attitude and product attachment. The switching-cost effects for the Korean Wave were verified. However, neither the economic image nor cultural image of Korea had significant effects on the economic risk costs. Moreover, the economic image of Korea had no significant effect on the set-up costs. Originality/value - This study broadened the understanding of the relationships among country image, switching costs, product attitude, and product attachment and advanced the knowledge of relevant theories. The results contribute theoretically to the literature on switching-cost effects for the Korean Wave. The results confirmed the negative effect of THAAD deployment on the economic effects of the Korean Wave. In the rapidly developing international environment, these research results could serve as theoretical reference guidelines for suppliers when developing marketing strategies.

• Management Science and Financial Engineering
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• v.14 no.2
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• pp.89-104
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• 2008

Growth curves including Bass, Logistic and Gompertz functions are widely used in forecasting the market demand. Nonlinear least square method is often adopted for estimating the model parameters but it is difficult to set up the starting value for each parameter. If a wrong starting point is selected, the result may lead to erroneous forecasts. This paper proposes a method of selecting starting values for model parameters in estimating some growth curves by nonlinear least square method through grid search and transformation into linear regression model. Resealing the market data using the national economic index makes it possible to figure out the range of parameters and to utilize the grid search method. Application to some real data is also included, where the performance of our method is demonstrated.

• Proceedings of the KSR Conference
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• 2008.06a
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• pp.1574-1586
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• 2008

Railway is the most effective transportation than any other traffic. But due to the its expensive maintenance fee and various components like roadbed, rail, rollingstock, electric and signal etc, the construction cost of the railway is usually higher than highway. Such a reason, a lot of cost and period are needed to complete the railway project. In addition that considering the decreasing of the SOC budget, the investment in the railway industry is getting hard than ever. This study analyzed the cost, term of work, freight & passenger transportation demand of the wide area railway electrification project and main line improvement project. And it compared the estimation value and real value of the projects like cost and period etc. And this study surveyed the economic feasibility including factors which are not considered in the feasibility study guide. With those results, This study suggest the project management and evaluation method to enlarge the efficiency of the railway construction project.

• Economic and Environmental Geology
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• v.42 no.2
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• pp.133-141
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• 2009

For economic impact analysis on a R&D project of high-yield groundwater development in Jeju conducted by KIGAM from 2004 to 2007, benefit/cost ratio(BCR), net present value(NPV), and internal rate of return(IRR) were calculated by contingent valuation method(CVM), production function analysis, domestic water market analysis and technology factor analysis. Measurable direct impact parameters among the major outputs of this R&D project consisted the estimation 4 high-yield and high mineral groundwater reserve in Jeju. Annual use of the reserve by piped water and bottled water was estimated as 12.23 million ton and its monetary value was calculated as 293.4 million dollar in 2006 year value applied of 5.5% discount rate. Economic impact of this R&D project in NPV of year 2006, with applying a discount rate of 5.5%, was identified and estimated as 13.66 million dollar in NPV, 4.05 points in BCR, and 22.74% in IRR, respectively. Additional early launch benefit was 5.58 million dollar. Even increased of the 1% discount rate, NPV of this R&D project was also positive as 12.18 million dollar and BCR was 3.71.

• Proceedings of the Korean Geotechical Society Conference
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• 1993.06b
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• pp.19-44
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• 1993

The purpose of this paper is to study the design and the construction for the most economic and safe slope stability analysis. The approach to the purpose Iies in analyzing the characteristic on direction and distance by the sample value for the geotechnical parameters using the semi-variogram concept. Based on the result, we derive the Kriging system equation from the stochastical concept and solve the equation to find the weighting factor which is applied both the point estimation and the block estimation in the particular position. Comparing and analyzing the various methods. we find the best reliability, which is more accurate than any other.

• Journal of Korea Port Economic Association
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• v.24 no.2
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• pp.113-129
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• 2008

Generally and also specifically in Busan the port and port related industries influence regional economy directly and indirectly. In the case of Busan the regional I-O model shows the port and port related industries account for more than one fifth of regional production, more than one fifth of value added and more than one seventh of employment at least. The port and port related industries are the most important sector in Busan economy as well as other major ports such as Rotterdam and Singapore. The impact estimation of port and port related industries is compared by the previously held survey study. The compilation of regional I-O table makes more diverse analysis on regional economic variables available and a few sample cases are reported in this paper.

• Transactions of the Korean hydrogen and new energy society
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• v.14 no.4
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• pp.348-358
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• 2003

According to Electricity Acceleration Law of Rural Area recently, the needs for replacement of a small scale diesel power generation facility which supplied electricity to 10-50 households Remote Islands has been revealed due to high operating and maintenance cost of Diesel Power Generation. Optimization of electric power system for Small Remote Islands must be made considering the economics, reliability and stability as power sources and estimation of total construction cost of those power stations. For its purpose, an assessment of power generation options such as Photovoltaic, Fuel cell, Wind-hybrid was implemented, economic evaluation of power supply shows the Photovoltaic, Fuel Cell for few household's islands and Diesel, Wind-hybrid for more inhabited islands. Power supplied by Diesel shows the best response to increasing electric demand and system reliability even with its lower economic value. Those who are in charge of power planning have to pay attention to system reliability, stability and operating characteristics of candidate's power supply besides its economics.