• Title/Summary/Keyword: Economic and non-economic

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A Study on Estimating Optimal Tonnage of Coastal Cargo Vessels in Korea (우리나라 연안화물선의 적정선복량 추정에 관한 연구)

  • 이청환;이철영
    • Journal of the Korean Institute of Navigation
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    • v.13 no.1
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    • pp.21-53
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    • 1989
  • In the past twenty years, there has been a rapid increase in the volume of traffic in Korea due to the Korean great growth of the Korean economy. Since transformation provides an infrastructure vital to economic growth, it becomes more and more an integral part of the Korea economy. The importance of coastal shipping stands out in particular, not only because of the expansion limit on the road network, but also because of saturation in the capacity of rail transportation. In spite of this increase and its importance, coastal shipping is falling behind partly because it is givenless emphasis than ocean-going shipping and other inland transportation systems and partly because of overcompetition due to excessive ship tonnage. Therefore, estimating and planning optimum ship tonnage is the first take to develop Korean coastal shipping. This paper aims to estimate the optimum coastal ship tonnage by computer simulation and finally to draw up plans for the ship tonnage balance according to supply and demand. The estimation of the optimum ship tonnage is peformed by the method of Origin -Destimation and time series analysis. The result are as follows : (1) The optimum ship tonnage in 1987 was 358, 680 DWT, which is 54% of the current ship tonnage (481 ships, 662, 664DWT) that is equal to the optimum ship tonnage in 1998. this overcapacity result is in excessive competition and financial difficulties in Korea coastal shipping. (2) The excessive ship tonnage can be broken down into ship types as follows : oil carrier 250, 926 DWT(350%), cement carrier 9, 977 DWT(119%), iron material/machinery carrier 25, 665 DWT(117%), general cargo carrier 17, 416DWT(112%). (3) the current total ship crew of 5, 079 is more than the verified optimally efficient figure of 3, 808 by 1271. (4) From the viewpoint of management strategy, it is necessary that excessive ship tonnage be reduced and uneconomic outdated vessels be broken up. And its found that the diversion into economically efficient fleets is urgently required in order to meet increasing annual rate in the amounts of cargo(23, 877DWT). (5) The plans for the ship tonnage balance according to supply and demand are as follows 1) The establishment of a legislative system for the arrangement of ship tonnage. This would involve; (a) The announcement of an optimum tonnage which guides the licensing of cargo vessels and ship tonnage supply. (b) The establishment of an organization that substantially arrangement tonnage in Korea coastal shipping. 2) The announcement of an optimum ship tonnage both per year and short-term that guides current tonnage supply plans. 3) The settlement of elastic tariffs resulting in the protect6ion of coastal shipping's share from other tonnage supply plans. 4) The settlement of elastic tariffs resulting in the protection of coastal shipping's share from other transportation systems. 4) Restriction of ocean-going vessels from participating in coastal shipping routes. 5) Business rationalization of coastal shipping company which reduces uneconomic outdated vessels and boosts the national economy. If we are to achieve these ends, the followings are prerequisites; I) Because many non-licensed vessels are actually operating and threatening the safe voyage of the others in Korea coastal routes, it is necessary that those ind of vessels be controlled and punished by the authorities. II) The supply of ship tonnage in Korean coastal routes should be predently monitored because most of the coastal vessels are to small to be diverted into ocean-going routes in case of excessive supply. III) Every ship type which is engaged in coastal shipping should be specialized according to the characteristics of its routes as soon possible.

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The Excluded from Public Pension : Problem, Cause and Policy Measures (공적연금의 사각지대 : 실태, 원인과 정책방안)

  • Seok, Jae-Eun
    • Korean Journal of Social Welfare
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    • v.53
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    • pp.285-310
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    • 2003
  • As National Pension Scheme for all nation complete in 1999 through expanding application in cities, the public pension including Public Occupational Pension became main axis of old-age income maintenance. After 4years since then, now, it is only half of total National Pension insured persons who have been qualified to receive pension through participate and contribution. The other half of National Pension insured is left the excluded from public pension. This paper is intended to identify scale and characteristics of the excluded from public pension and to analysis its cause, and to explore policy measures for solving the excluded's problem. for current recipients over 60 years old generation, the its excluded's scale is no less than 86% of the old over 60 years. The probability of getting in the excluded is high in case of old elderly and female for current elderly generation. For future recipients 18-59 years working generation, the its excluded's scale is no less than 61% of the 18-59 years total population. The probability of getting in the excluded is high in case of 18-29 years and female for current working generation. As logistic regression analysis determinant factor of paying or not pension contribution for future recipients, it appear that probability of getting in the excluded for current working generation is high in case of younger old, lower education attainment, irregular employee, working at agriculture forestry fishery sector, construction sector, wholesale retail trade restaurants hotels sector, financial institution and insurance real estate renting and leasing sector in comparison with manufacturing sector, occpaying at elementary occupation, professionals technicians and associate professionals, sale and service workers, plant machine operators and assemblers, legislators senior officials and managers in comparison with clerks. The Policy measures for the current recipient old generation have need to reinforce supplemental role of Senior's pension(non-contribution pension) until maturing of public pension, because of no having chance of public pension participants for them. And the Policy measures for the future recipient working generation have need to restructure social security fundamentally corresponding with social-economic change as labour market and family structure etc. The pension system has need to change from one earner one pension to one citizen one pension with citizenship rights. At this point, public pension have need to manage with combining insurance's contribution principle and citizenship principle financing by taxes. Then public pension will become substantially universal social network for old-age income maintenance and we can find real solution for the excluded from.

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Estimation of Optimum Raate of Cattle Slurry Application for Forage Production Using Idled Rice Paddy I. The Effect of cattle slurry application on annual dry matter yield in reed canarygrass. (유휴 논토양에서 조사료 생산을 위한 적정 액상구비 시용수준의 추정 I. 액상구비의 시용이 Reed Canarygrass의 연 건물수량에 미치는 영향)

  • 이주삼;조익환;김성규;안종호
    • Journal of The Korean Society of Grassland and Forage Science
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    • v.14 no.1
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    • pp.50-56
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    • 1994
  • This study was investigated for the purposes of securing forage resource using idled rice paddy recently increased in accordance to a current trend of farm products' liberalization and also of presevation of environment by using cattle sluny as liquid manure, which is seriously increasing these days. In this study, mean annual dry matter yield and its seasonal variation with reed canarygrass, and a optimum rate of cattle sluny application were investigated. The results are as follows: 1. According to the conditions of cutting frequencies(3, 4 and 5 cutting per year), mean annual dry matter yield was recorded from 8.9 tons to 10.9 tons per hectare and was the highest at 3 cutting frequency. 2. The use of cattle sluny with the levels of between 300 and 360 kg N per hectare showed a significantly higher mean annual dry matter yield than that of the control (non-fertilization). 3. The treatments with 3 and 4 cutting frequencies(90 kg Nhdyear, 120 kg Nhdyear) recorded higher dry matter yields than the control of the former level by 1.23 tons and 2.34 tons respectively and in the treatment of 5 cutting frequency, the second level with cattle sluny of 300 kg Nhdyear showed an increased dry matter yield of 2.11 tons compared to the former level(l50 kg Nhdyear). With regards to nitrogen efficiency, one kg of nitrogen is applied to 13.7, 19.4 and 14.1 kg of dry matter yields in the conditions of 3, 4 and 5 cutting frequencies respectively. 4. In view of seasonal variance of annual dry matter yield, the second cut in 3 cutting frequency, the third cut in 4 cutting frequency and the third in 5 cutting frequency showed the highest ratio as 42, 37 and 32% respectively compared to the total. 5. Under the conditions of this study, the 'Input-Output curve' from 5 cutting frequency was the closest to sigmaformed process(i=0.9993) of various cutting frequencies, and the maximum marginal yield in the treatment was obtained at the level of 250 kg Nha with cattle sluny. The economic level of cattle sluny was between 371.0 and 402.2 kg N and the highest dry matter yield was obtained at 489.3 kg Mdyear in the same treatment

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A Prospective Study on Attitude of Professional Student toward Population Related Issues in Korea (대학전공별(大學專攻別) 전문직학생(專門職學生)들의 인구관련문제(人口關聯問題)에 대한 연차적(年次的) 변화(變化) 연구(硏究))

  • Lee, Kyung-Sik;Kim, Hwa-Joong
    • Journal of Preventive Medicine and Public Health
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    • v.9 no.1
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    • pp.11-24
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    • 1976
  • This study was a part of large scale of a prospective study on attitudes of professional students in medicine, nursing and teaching toward population related issues in Korea. The study was first conducted in May 1974 and then in May 1975 for the 1974 class cohot using a questionaire consisted of attitude scales and other items developed by Lee. The purpose of stuay was twohold, namely, to determine the difference in students among specializations on one hand and between the first and second years in the 1974 class cohot regarding tile subject matter. A one-way analysis of variance was used for attitude scale, and absolute and relative frequency were computed for the analysis of non-attitude scale items by employing Fishers' Ratio and Duncan's multiple range test at 5% level and chi square test at 5% level as significance tests. The hypothesis 'students in health profession are more likely to have positive attitudes toward population related issues progressively as class year advances than students in teaching profession' was tested and the following results were obtained: 1) Nursing students were more likely to display favarable attitudes toward family planning than medical or teaching students although the class cohot showed slightly negative improvement in the second year. Medical and teaching students apperaed to have slightly improved attitudes in the second year. 2) Respondents in general perceived national family planning program as a means of population control and this tendency was more true among nursing students as the class year advances than two other professional groups of students. Students in teaching profession appeared to perceive it more as a means to improve individual family welfare while health students were likely to see as to improve maternal and child health. This tendency was progressively improved as the class year advanced. 3) The majority of students regardless of their respective specializations believed that family planning program should be directed toward the improvement of individual family welfare. No progressive changes in the class cohot were observed. 4) About the plan to use contraceptives in future, no singnificant differences were observes among different specializations nor in different class years. However, the majority was confirmed to have a plan to use contracepives in future. An increasing proportion of the undecided category was observed, as class year advanced among health students. 5) Students in health profession were found to be more favorable about 'more leisure opportunities' as motive for limiting number of children whereas education students indicated the reasons as 'facilitate ambitions' and 'economic base' The progressive changes toward positive direction in both groups were observed as the class years advanced. 6) Attitudes toward induced abortions of the health students were observed to be positively related to class years while an inverse relationship was found in teaching students who showed much less favor in the subject matter than health students. This phenomenon may be due to the different exposure to learning environments unique to respective specializations. 7) Health students were found to have more favorable attitudes toward population education in general than the teaching students. The teaching students appeared to have changed more to the negative direction when they became the second year while no such development was observed in health students. The teaching students seemed to hold a very conservative position with regard to sex education in schools. 8) About the equality of sexes, the nursing group was found to be most favorable while the reverse was true in the teaching group. A change in the negative direction as the class year advanced was found in the teaching group. 9) About questions related to fertility values-the 10 percent of respondents regardless of specialization indicated that they would maintain their single status in future, however no change was observed in the second year. The desired number of children was found to be two by the majority of students in nursing, medicine and teaching in order of high proportion. No changes in a different class year were observed. The childless marriage was seen by nursing students as a problem more than other students, but a slight change in positive direction was found when the nursing students became the second year. In summing, as data supported in the above, students in health profession demonstrated more favorable attitudes toward population related issues than the teaching students and this tendency became more apparent in the second year. It was noticed that health students were more conscious about the health aspect of population and family planning program while the teaching students gave more attention to the socioeconomic aspect. The sex variable seemed to have operated in the item related to the equality of sexes. In conclusion, as data presented in the above, the hypothesis of this study was accepted except in the few items. It should be noted that the limitation of this study is the short duration of the observation in measuring the possible attitude changes. It should include curriculum analysis for the respective specializations in order to indentify the area of curriculum impact on students in future study.

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Survey on Period Prevalence Rate and Therapeutic Practice For Low Back Pain in Adult Population of Rural Area (농촌지역 성인의 요통 유병률과 치료방법 조사)

  • Lee Seung-Ju;Park Jung-Han
    • The Journal of Korean Physical Therapy
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    • v.3 no.1
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    • pp.109-121
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    • 1991
  • To investigate the period prevalence rate and therapeutic practic for low back pain (LBP) in the adult population of rural area, a personal interview was conducted for 2.024 persons or 20-59 years old in Seohu Myon, Andong County, Kyungpook Province between 1st and 20th of April, 1991. The period prevalence rate (l February 1990-31 January 1991) of LBP for 1,106 adults who were interviewed was $47.9\%$. The age adjusted period prevalence rate for males was $43.7\%$ and that for females was $52.3\%$ and the difference was statistically significant (p<0.005). Clinical course of th LBP was acute in $14.1\%$ of males and $9.0\%$ of females, recurrent in $57.0\%$ and $55.2\%$, and chronic in $28.9\%$ and $35.8\%$, respectively. Common causes of the LBP were insidious on set with aging without known cause$(48.1\%)$, heavy work $(15.1\%)$, and trauma $(11.3\%)$. Due to LBP $12.5\%$ of the patients were not able to stand or walk for more than an hour and $2.5\%$ were bed-ridden or unable to carry out daily routine. To have the LBP diagnosed $10.2\%$ of the patients utilized a oriental medical clinic or hospital, $31.3\%$ visited a clinic or hospital, and $56.6\%$ hat not utilized any medical facility. Main reason for not having the LBP diagnosed was that the LBP was tolerable. The most popular therapeutic method that the LBP patients chose at the first was drug and physical therapy. Herb medicine was most commonly used when the first therapeutic method was not effective and the acupuncture was the most popular choice of therapy when the second therapeutic method failed. Folk medicine was utilized in $15.5\%$ of the LBP patients and it included 36 regimens such as tincture of motherwort (Leonurus sibiricus), boiled chicken with liquor, etc. It was revealed by this survey that the LBP is a serious health problem in the rural area and many of the LBP patients do not utilize a clinic or hospital but take non-scientific folk remedy. To prevent the economic waste and side effects of the folk remedy, public health education is needed for tile rational therapy of LBP.

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A Study on Metaverse Construction Based on 3D Spatial Information of Convergence Sensors using Unreal Engine 5 (언리얼 엔진 5를 활용한 융복합센서의 3D 공간정보기반 메타버스 구축 연구)

  • Oh, Seong-Jong;Kim, Dal-Joo;Lee, Yong-Chang
    • Journal of Cadastre & Land InformatiX
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    • v.52 no.2
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    • pp.171-187
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    • 2022
  • Recently, the demand and development for non-face-to-face services are rapidly progressing due to the pandemic caused by the COVID-19, and attention is focused on the metaverse at the center. Entering the era of the 4th industrial revolution, Metaverse, which means a world beyond virtual and reality, combines various sensing technologies and 3D reconstruction technologies to provide various information and services to users easily and quickly. In particular, due to the miniaturization and economic increase of convergence sensors such as unmanned aerial vehicle(UAV) capable of high-resolution imaging and high-precision LiDAR(Light Detection and Ranging) sensors, research on digital-Twin is actively underway to create and simulate real-life twins. In addition, Game engines in the field of computer graphics are developing into metaverse engines by expanding strong 3D graphics reconstuction and simulation based on dynamic operations. This study constructed a mirror-world type metaverse that reflects real-world coordinate-based reality using Unreal Engine 5, a recently announced metaverse engine, with accurate 3D spatial information data of convergence sensors based on unmanned aerial system(UAS) and LiDAR. and then, spatial information contents and simulations for users were produced based on various public data to verify the accuracy of reconstruction, and through this, it was possible to confirm the construction of a more realistic and highly utilizable metaverse. In addition, when constructing a metaverse that users can intuitively and easily access through the unreal engine, various contents utilization and effectiveness could be confirmed through coordinate-based 3D spatial information with high reproducibility.

Perception of Local Community on Forest Partnership in Indonesia: Expectation and Challenges - A Case of Forest Partnership between Forest Management Unit and local community in Lombok - (인도네시아의 산림 파트너십에 대한 지역주민의 인식: 기대와 도전 - 롬복 산림 파트너십 사례를 중심으로 -)

  • Bae, Jae Soo
    • Journal of Korean Society of Forest Science
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    • v.105 no.3
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    • pp.366-376
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    • 2016
  • The "Forest Partnership" mechanism in Indonesia allows those with authority to manage forests, including Forest Management Units (KPH) and concession holders, to partner with local communities for forest management and profit sharing. The objective of this study is to identify the challenges that this new mechanism is facing and develop practical policy recommendations for its successful implementation. "Lombok Forest Partnership" is the first of its kind in Indonesia between Forest Management Unit (KPH) and a local community. The local community members participating in this partnership were surveyed for their expected outcomes, degree of their satisfaction about the process and profits sharing, as well as other factors affecting their participation. Respondents reported that they have obtained the information on Forest Partnership completely from KPH and NGO. Local peoples participated in Lombok Forest Partnership to improve their incomes, and recognized timber production as the most important income source with high possibility of success. However, timber production will require sizable initial capital investment for establishing nursery and other supporting activities, which cannot come from local communities lacking economic means. Thus, Forest Partnership would be difficult to succeed if KPH does not take the initiative to permit and promote local community to use special area and generate profits in their jurisdiction. KPH, in turn, can share the profits with local peoples. In this regard, KPH's leadership is the key factor in the success of Forest Partnership. However, KPH will need to cultivate their capacity to develop and implement income-generating business with local community. Although profit sharing ratio of timber and non-timber forest products among local community who participated in Lombok Forest Partnership was very high at 75%, and 90%, the level of satisfaction on profit sharing ratio was only average. The cooperative organized by the local community is also dealing with sensitive nature of allocating forest area internally among their members. Thus, keeping the principle of fairness, equity and transparency is the key for successful implementation of Forest Partnership mechanism. This first case of Forest Partnership can serve as a model for the future cases and provide the early lessons.

Dynamic forecasts of bankruptcy with Recurrent Neural Network model (RNN(Recurrent Neural Network)을 이용한 기업부도예측모형에서 회계정보의 동적 변화 연구)

  • Kwon, Hyukkun;Lee, Dongkyu;Shin, Minsoo
    • Journal of Intelligence and Information Systems
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    • v.23 no.3
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    • pp.139-153
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    • 2017
  • Corporate bankruptcy can cause great losses not only to stakeholders but also to many related sectors in society. Through the economic crises, bankruptcy have increased and bankruptcy prediction models have become more and more important. Therefore, corporate bankruptcy has been regarded as one of the major topics of research in business management. Also, many studies in the industry are in progress and important. Previous studies attempted to utilize various methodologies to improve the bankruptcy prediction accuracy and to resolve the overfitting problem, such as Multivariate Discriminant Analysis (MDA), Generalized Linear Model (GLM). These methods are based on statistics. Recently, researchers have used machine learning methodologies such as Support Vector Machine (SVM), Artificial Neural Network (ANN). Furthermore, fuzzy theory and genetic algorithms were used. Because of this change, many of bankruptcy models are developed. Also, performance has been improved. In general, the company's financial and accounting information will change over time. Likewise, the market situation also changes, so there are many difficulties in predicting bankruptcy only with information at a certain point in time. However, even though traditional research has problems that don't take into account the time effect, dynamic model has not been studied much. When we ignore the time effect, we get the biased results. So the static model may not be suitable for predicting bankruptcy. Thus, using the dynamic model, there is a possibility that bankruptcy prediction model is improved. In this paper, we propose RNN (Recurrent Neural Network) which is one of the deep learning methodologies. The RNN learns time series data and the performance is known to be good. Prior to experiment, we selected non-financial firms listed on the KOSPI, KOSDAQ and KONEX markets from 2010 to 2016 for the estimation of the bankruptcy prediction model and the comparison of forecasting performance. In order to prevent a mistake of predicting bankruptcy by using the financial information already reflected in the deterioration of the financial condition of the company, the financial information was collected with a lag of two years, and the default period was defined from January to December of the year. Then we defined the bankruptcy. The bankruptcy we defined is the abolition of the listing due to sluggish earnings. We confirmed abolition of the list at KIND that is corporate stock information website. Then we selected variables at previous papers. The first set of variables are Z-score variables. These variables have become traditional variables in predicting bankruptcy. The second set of variables are dynamic variable set. Finally we selected 240 normal companies and 226 bankrupt companies at the first variable set. Likewise, we selected 229 normal companies and 226 bankrupt companies at the second variable set. We created a model that reflects dynamic changes in time-series financial data and by comparing the suggested model with the analysis of existing bankruptcy predictive models, we found that the suggested model could help to improve the accuracy of bankruptcy predictions. We used financial data in KIS Value (Financial database) and selected Multivariate Discriminant Analysis (MDA), Generalized Linear Model called logistic regression (GLM), Support Vector Machine (SVM), Artificial Neural Network (ANN) model as benchmark. The result of the experiment proved that RNN's performance was better than comparative model. The accuracy of RNN was high in both sets of variables and the Area Under the Curve (AUC) value was also high. Also when we saw the hit-ratio table, the ratio of RNNs that predicted a poor company to be bankrupt was higher than that of other comparative models. However the limitation of this paper is that an overfitting problem occurs during RNN learning. But we expect to be able to solve the overfitting problem by selecting more learning data and appropriate variables. From these result, it is expected that this research will contribute to the development of a bankruptcy prediction by proposing a new dynamic model.

Present Status and Prospect of Valuation for Tangible Fixed Asset in South Korea (유형고정자산 가치평가 현황: 우리나라 사례를 중심으로)

  • Jin-Hyung Cho;Hyun-Seung O;Sae-Jae Lee
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.46 no.1
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    • pp.91-104
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    • 2023
  • The records system is believed to have started in Italy in the 14th century in line with trade developments in Europe. In 1491, Luca Pacioli, a mathematician, and an Italian Franciscan monk wrote the first book that described double-entry accounting processes. In many countries, including Korea, the government accounting standards used single-entry bookkeeping rather than double-entry bookkeeping that can be aggregated by account subject. The cash-based and single-entry bookkeeping used by the government in the past had limitations in providing clear information on financial status and establishing a performance-oriented financial management system. Accordingly, the National Accounting Act (promulgated in October 2007) stipulated the introduction of double-entry bookkeeping and accrual accounting systems in the government sector from January 1, 2009. Furthermore, the Korean government has also introduced International Financial Reporting Standards (IFRS), and the System of National Accounts (SNA). Since 2014, Korea owned five national accounts. In Korea, valuation began with the 1968 National Wealth Statistics Survey. The academic origins of the valuation of national wealth statistics which had been investigated by due diligence every 10 years since 1968 are based on the 'Engineering Valuation' of professor Marston in the Department of Industrial Engineering at Iowa State University in the 1930s. This field has spread to economics, etc. In economics, it became the basis of capital stock estimation for positive economics such as econometrics. The valuation by the National Wealth Statistics Survey contributed greatly to converting the book value of accounting data into vintage data. And in 2000 National Statistical Office collected actual disposal data for the 1-digit asset class and obtained the ASL(average service life) by Iowa curve. Then, with the data on fixed capital formation centered on the National B/S Team of the Bank of Korea, the national wealth statistics were prepared by the Permanent Inventory Method(PIM). The asset classification was also classified into 59 types, including 2 types of residential buildings, 4 types of non-residential buildings, 14 types of structures, 9 types of transportation equipment, 28 types of machinery, and 2 types of intangible fixed assets. Tables of useful lives of tangible fixed assets published by the Korea Appraisal Board in 1999 and 2013 were made by the Iowa curve method. In Korea, the Iowa curve method has been adopted as a method of ASL estimation. There are three types of the Iowa curve method. The retirement rate method of the three types is the best because it is based on the collection and compilation of the data of all properties in service during a period of recent years, both properties retired and that are still in service. We hope the retirement rate method instead of the individual unit method is used in the estimation of ASL. Recently Korean government's accounting system has been developed. When revenue expenditure and capital expenditure were mixed in the past single-entry bookkeeping we would like to suggest that BOK and National Statistical Office have accumulated knowledge of a rational difference between revenue expenditure and capital expenditure. In particular, it is important when it is estimated capital stock by PIM. Korea also needs an empirical study on economic depreciation like Hulten & Wykoff Catalog A of the US BEA.

Evaluation of nutritive value of chestnut hull for ruminant animals using in vitro rumen fermentation (밤 가공 부산물의 반추가축용 사료 가치 평가: in vitro 반추위 배양)

  • Jeong, Sin-Yong;Jo, Hyeon-Seon;Park, Gi-Su;Kang, Gil-Nam;Jo, Nam-Chul;Seo, Seongwon
    • Korean Journal of Agricultural Science
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    • v.39 no.3
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    • pp.335-340
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    • 2012
  • During the manufacturing process of chestnut, 50% of biomass is produced as chestnut shell (CS) or chestnut hull (CH), a forestry by-product. Due to its high fiber content and economic benefit, there is a possibility of using chestnut hull as a supplement for a ruminant diet. Few studies, however, have been conducted on evaluating nutritive value of chestnut hull for ruminant animals. The objective of this study were thus to analyze chemical composition of CS, a by-product after the first processing of chestnut, and CH, a by-product after the second processing, and access in vitro rumen fermentation characteristics of them. For the in vitro fermentation using strained rumen fluid obtained from a fistulated Hanwoo steer, commercial total mixed ration (TMR) for dairy goat was used as a basal diet and was replaced with different proportions of chestnut shell and hull. A total number of 13 treatments were carried out in this study: 100% TMR, 100% CS, 100% CH, a mix with 50% CS and 50% of CH (MIX), TMR replaced with 5%, 10%, or 15% of CS, CH, or MIX, respectively. For each treatment, in vitro dry matter digestibility (IVDMD) and pH after 48 hours of rumen fermentation were measured. Gas production at 6, 12, 24, 48 hours of incubation was also analyzed. Compared to CH, CS contains higher level of fiber (NDF, ADF, lignin) and consequently has a lower amount of non-fiber carbohydrate, but no difference was observed in the other nutrients (i.e. crude protein, crude fat, and ash). IVDMD was significantly (p<0.05) the highest in 100% CH (71.97%) and the lowest in 100% CS (42.80%). Addition of CH by replacing TMR did not affect IVDMD, while an increase in the proportion of CS tended to decrease IVDMD. The total gas production after 48 hours of incubation and the rate of gas production were also the highest in 100% CH and the lowest in 100% CS (P<0.05). Likewise, the pH after 48 hours of fermentation was significantly (p<0.05) the lowest in 100% CH (6.33) and the highest in 100% CS (6.50), and no significant difference in gas production was observed when TMR was replaced with CS or CH up to 15% (P>0.05). In conclusion, CH may successfully be used for a supplement in a ruminant diet. The nutritive value of CS is relative low, but can replace, if not 100%, low quality forage. This study provides valuable information about the nutritive value of CS and CH. An in vivo trials, however, is needed for conclusively accessing the nutritive value of CS and CH.