• Title/Summary/Keyword: Financial Considerations

Search Result 67, Processing Time 0.026 seconds

Development of Modular Apartment Unit for Single Person Household Based on BIM (BIM 기반 1인 가구 모듈러 공동주택 유닛 개발)

  • Lee, Si-Hyeon;Yoo, Moo-Young
    • Journal of the Korea Institute of Building Construction
    • /
    • v.23 no.6
    • /
    • pp.809-820
    • /
    • 2023
  • In contemporary society, there is a notable rise in single-person households, coupled with an increased demand for residential spaces, necessitating the exploration of suitable housing solutions. Modular architecture is gaining prominence as a method to deliver cost-effective and sustainable living spaces efficiently. This study introduces a method for optimizing the design and construction processes of modular building units through Building Information Modeling(BIM) technology. It involves an analysis of factors that enhance living quality and meet the housing needs of single-person households. Utilizing BIM, a resource-efficient and cost-efficient modular apartment unit has been developed. BIM facilitates the visualization and integration of architectural components, thereby reducing design errors and enhancing productivity. This research evaluates both the benefits and constraints of modular architecture. Modular constructions, when combined with BIM, emerge as a potent solution for housing challenges, enriching the quality and variety of residential options. Nevertheless, considerations such as technical prerequisites and financial implications are also discussed. The study showcases the potential and merits of utilizing BIM for designing apartment units tailored to single-person households, offering a viable approach to ameliorate their living conditions.

Corporate Governance and Managerial Performance in Public Enterprises: Focusing on CEOs and Internal Auditors (공기업의 지배구조와 경영성과: CEO와 내부감사인을 중심으로)

  • Yu, Seung-Won
    • KDI Journal of Economic Policy
    • /
    • v.31 no.1
    • /
    • pp.71-103
    • /
    • 2009
  • Considering the expenditure size of public institutions centering on public enterprises, about 28% of Korea's GDP in 2007, public institutions have significant influence on the Korean economy. However, still in the new government, there are voices of criticism about the need of constant reform on public enterprises due to their irresponsible management impeding national competitiveness. Especially, political controversy over appointment of executives such as CEOs of public enterprises has caused the distrust of the people. As one of various reform measures for public enterprises, this study analyzes the effect of internal governance structure of public enterprises on their managerial performance, since, regardless of privatization of public enterprises, improving the governance structure of public enterprises is a matter of great importance. There are only a few prior researches focusing on the governance structure and managerial performance of public enterprises compared to those of private enterprises. Most of prior researches studied the relationship between parachuting employment of CEO and managerial performance, and concluded that parachuting produces negative effect on managerial performance. However, different from the results of such researches, recent studies suggest that there is no relationship between employment type of CEOs and managerial performance in public enterprises. This study is distinguished from prior researches in view of following. First, prior researches focused on the relationship between employment type of public enterprises' CEOs and managerial performance. However, in addition to this, this study analyzes the relationship of internal auditors and managerial performance. Second, unlike prior researches studying the relationship between employment type of public corporations' CEOs and managerial performance with an emphasis on parachuting employment, this study researches impact of employment type as well as expertise of CEOs and internal auditors on managerial performance. Third, prior researchers mainly used non-financial indicators from various samples. However, this study eliminated subjectivity of researchers by analyzing public enterprises designated by the government and their financial statements, which were externally audited and inspected. In this study, regression analysis is applied in analyzing the relationship of independence and expertise of public enterprises' CEOs and internal auditors and managerial performance in the same year. Financial information from 2003 to 2007 of 24 public enterprises, which are designated by the government, and their personnel information from the board of directors are used as samples. Independence of CEOs is identified by dividing CEOs into persons from the same public enterprise and persons from other organization, and independence of internal auditors is determined by classifying them into two groups, people from academic field, economic world, and civic groups, and people from political community, government ministries, and military. Also, expertise of CEOs and internal auditors is divided into business expertise and financial expertise. As control variables, this study applied foundation year, asset size, government subsidies as a proportion to corporate earnings, and dummy variables by year. Analysis showed that there is significantly positive relationship between independence and financial expertise of internal auditors and managerial performance. In addition, although business expertise and financial expertise of CEOs were not statistically significant, they have positive relationship with managerial performance. However, unlike a general idea, independence of CEOs is not statistically significant, but it is negatively related to managerial performance. Contrary to general concerns, it seems that the impact of independence of public enterprises' CEOs on managerial performance has slightly decreased. Instead, it explains that expertise of public enterprises' CEOs and internal auditors plays more important role in managerial performance rather than their independence. Meanwhile, there are limitations in this study as follows. First, in contrast to private enterprises, public enterprises simultaneously pursue publicness and entrepreneurship. However, this study focuses on entrepreneurship, excluding considerations on publicness of public enterprises. Second, public enterprises in this study are limited to those in the central government. Accordingly, it should be carefully considered when the result of this study is applied to public enterprises in local governments. Finally, this study excludes factors related to transparency and democracy issues which are raised in appointment process of executives of public enterprises, as it may cause the issue of subjectivity of researchers.

  • PDF

Factors Affecting Continuous Intention to Use Mobile Wallet : Based on Value-based Adoption Model (모바일 지갑의 가치와 지속사용의도의 영향요인 : VAM 모형을 기반으로)

  • Lee, Chungah;Yun, Haejung;Lee, Chunghun;Lee, Choong C.
    • The Journal of Society for e-Business Studies
    • /
    • v.20 no.1
    • /
    • pp.117-135
    • /
    • 2015
  • Mobile wallet that can keep coupons and membership cards for mobile is one of rapidly growing services due to its usability and financial benefit. However, in spite of its rapid growth, the increase of users who do not use continuously it is an important consideration to service providers for making a profit. This study aims to test the effects of factors affecting the continuous use intention of mobile wallet based on VAM (Value-based Adoption Model) which can analyse them in both benefit and sacrifice aspects, so as to suggest considerations to increase the use period of mobile wallet for service providers. The research findings supported the hypotheses regarding to the effects of usefulness, value-expression, perceived security and enjoyment in the benefit aspect and technicality in the sacrifice aspect on perceived value. In addition, the causal path from perceived value to continuous use intention was significant. The study results are expected to be used in marketing or service improvement for short-term users by taking account of emotional factors as well as functional factors.

What Can Koreans Learn from the Dutch Experiences in Reforming the Health Insurance System? (한국의료보험제도(韓國醫療保險制度)의 개혁필요성(改革必要性)과 네덜란드의 경험(經驗)이 주는 교훈(敎訓))

  • Kwon, Soon-won;Sunwoo, Duk
    • KDI Journal of Economic Policy
    • /
    • v.12 no.3
    • /
    • pp.47-69
    • /
    • 1990
  • The measures taken to reform the Dutch health insurance system hold valuable lessons for countries such as Korea, where there has been increased concern regarding the efficiency and effectiveness of the health services provided. The growing literature on comparative health insurance policies suggests that nations can learn from each other. In addition, Korean policymakers have shown great interest in the health insurance systems of foreign countries, particularly in Japan. The development of Korea's health insurance scheme during the past 12 years has made a significant contribution to the increased accessibility of health care services. Although the insurance coverage is universal, the health insurance system today in Korea is by no means a product of systematic and planned efforts. Moreover, it lacks due considerations of insured's needs as well as the long-term objectives of the social security health care system. There are growing gaps in premium burdens and benefits between the rural health insurance program and the employee's health insurance programs. Furthermore, the regional health insurance program is experiencing financial difficulties in spite of the fact that the amount of the government subsidy has been sharply increased in recent years. Under the present payment method solely based on the fee-for-service schedule, both consumers and providers are encouraged to utilize and prescribe more services. The combination of the utilization-inducing reimbursement system and continuous pushes for expanding health insurance has played a crucial role in raising the country's medical bills. Current trends in Korea's health care sector and those anticipated in the near future necessitate changes in the structure and funding of health care. As indicated in the above, there are various shortcomings in this context, the health policy authority in Korea can draw valuable lessons from the Dutch experiences in reforming their health insurance system. The main elements of the Dutch reform measures are a restructuring of the insurance system and a greater role for market forces in the health care system. On this basis a new system will be created which reflects the social nature of health care while at the same time containing sufficient mechanisms to allow the health care sector to operate in a cost-effective and efficient manner.

  • PDF

AUTOTRANSPLANTATION OF IMPACTED MAXILLARY CANINES (매복된 상악 견치의 자가치아이식을 통한 치험례)

  • Kim, Tae-Wan;Kim, Hyun-Jung;Kim, Young-Jin;Nam, Soon-Hyeun
    • Journal of the korean academy of Pediatric Dentistry
    • /
    • v.30 no.2
    • /
    • pp.326-333
    • /
    • 2003
  • The appropriate treatment for eruption guide of impacted teeth necessitates the formulation of a comprehensive treatment plan, which is dependent upon a number of factors such as the condition of the deciduous teeth, dental and skeletal relationship, dental age of the patient, willingness of the patient to undergo extensive dental treatment and financial considerations. If the etiology of the eruption disturbance has been identified, the elimination of the causes and various procedures can be used for eruption guide. Particularly the transplantation is a valuable alternative to extraction of impacted teeth, where surgical exposure and subsequent orthodontic realignment are difficult or impossible. This report present three cases of autotransplantation of impacted maxillary canine. As the result in these cases, atraumatic removal of donor tooth during operation is prerequisite to an optimal clinical result. Due to a high possibility of pulp necrosis, endodontic treatment of fully developed transplanted teeth should be undertaken. In complex case, autotransplantation can save time and less expensive than orthodontic forced eruption. Recipient socket should be prepared to a size that is slightly larger than the root of the donor tooth, and can be prepared with open or close procedure depends on root size of donor tooth and buccolingual width at transplantion site.

  • PDF

Environment, Competence, and Strategy Effects on the Export Performance of Regional SMEs (지역 중소기업의 환경, 역량, 전략이 수출성과에 미치는 영향)

  • Kim, Seung-Ho;Huh, Moo-Yul
    • Journal of Distribution Science
    • /
    • v.13 no.3
    • /
    • pp.61-67
    • /
    • 2015
  • Purpose - Exports have long been regarded as significant drivers of sustainable competitive advantage and growth among small and medium enterprises (SMEs). The export activities of SMEs are particularly important in the context of export-oriented economies such as Korea. Although many studies have examined the determinants of exports, it is difficult to find empirical studies about the determinants of the export performance of regional SMEs. This study investigates the determinants of export performance in the regional SME context based on an integrated approach that combines the environment factor of industrial organization theory, competitive strategy theory, and the competences of the resource-based view. Research design, data, and methodology - To empirically analyze the determinants of export performance in the regional SMEs, data were collected from firms in the Daegu metropolitan area. Data were collected directly through questionnaire surveys; in addition, secondary financial data were also taken from the KIS-VALUE database. Out of the 175 responses that were received, 143 were considered to be worth examining. After testing the reliability and validity of the variables through multiple items such as environmental turbulence and competitive strategy, hypotheses were verified by using five multi-regression models. These models were: a control model with organizational size and age, an environmental model with technology and market turbulence, a competency model with R&D and foreign distribution channels, a strategy model with product and market differentiation, and an integrated model including all of these variables. Results - First, as a control variable, the organization size has significant positive effects on export performance. Second, technology turbulence based on industrial organization theory has significant positive effects on export performance, but market turbulence does not affect export performance. Third, the foreign market distribution competency of the resource-based view has strong positive effects on export performance, but the R&D competency does not affect export performance. Fourth, the product differentiation strategy from competitive strategy theory positively impacts export performance, but market differentiation does not affect export performance. Finally, in the integrated model, only the foreign distribution competency of the resource-based view has a significant effect on export performance. Conclusions - The empirical results of this study verified the usefulness of the rationales behind the three theories to explain the export performance of the regional SMEs, especially the importance of the foreign market distribution competency from the resource-based view. With regard to practical considerations, this study's implications suggest that the use of technological environmental changes by industries is better than the use of market changes. Further, the use of the product differentiation strategy is more effective than the use of the market-driving strategy, and the distribution channel competency plays a stronger role than the technology-oriented competency with regard to the export performance position of regional SMEs. Future studies should examine relational perspectives, such as trust among channel partners. Therefore, the configuration approach is more useful in enhancing pragmatism by comparing high- and low-export companies.

A Case Study on the Online Fractional Investment Securitization Platform (온라인 분할 투자 증권화 플랫폼 사례 연구)

  • Tae Hyup ROH
    • The Journal of the Convergence on Culture Technology
    • /
    • v.9 no.1
    • /
    • pp.747-754
    • /
    • 2023
  • With the development of information and communication technology, online fractional investment platforms have emerged through the convergence of online platform technology and new investment techniques for asset-backed derivatives. In this study, the concept and previous studies of the online fractional investment platform business, commercialization models and service processes, market status, and pending discussions and alternatives were presented. Recently, the Securities and Futures Commission's decision on securitization of split ownership has become an important guide to the stable business sustainability of platform operators, but academic research is needed according to the current status and case analysis. To identify specific market issues, examples of representative online fractional investment securitization platform businesses such as "MusiCow" for music copyright, "Tessa" based on art, "Kasa" for real estate, "Piece" based on real assets, and "BangCow" for Korean beef shipments were analyzed. Through the case analysis of this study, the characteristics of the business model according to the basic assets of the online fractional investment platform were compared and presented. Since most business models are judged to be securitic, they must comply with the provisions of the Capital Markets Act or be recognized as the target of innovative financial services. From a practical point of view, it is meaningful in that it presented improvement directions that online fractional securitization platform operators should consider and organized institutional considerations for investor protection.

A Study on Hoslital Nurses' Preferred Duty Shift and Duty Hours (병원 간호사의 선호근무시간대에 관한 연구)

  • Lee, Gyeong-Sik;Jeong, Geum-Hui
    • The Korean Nurse
    • /
    • v.36 no.1
    • /
    • pp.77-96
    • /
    • 1997
  • The duty shifts of hospital nurses not only affect nurses' physical and mental health but also present various personnel management problems which often result in high turnover rates. In this context a study was carried out from October to November 1995 for a period of two months to find out the status of hospital nurses' duty shift patterns, and preferred duty hours and fixed duty shifts. The study population was 867 RNs working in five general hospitals located in Seoul and its vicinity. The questionnaire developed by the writer was used for data collection. The response rate was 85.9 percent or 745 returns. The SAS program was used for data analysis with the computation of frequencies, percentages and Chi square test. The findings of the study are as follows: 1. General characteristics of the study population: 56 percent of respondents was (25 years group and 76.5 percent were "single": the predominant proportion of respondents was junior nursing college graduates(92.2%) and have less than 5 years nursing experience in hospitals(65.5%). For their future working plan in nursing profession, nearly 50% responded as uncertain The reasons given for their career plan was predominantly 'personal growth and development' rather than financial reasons. 2. The interval for rotations of duty stations was found to be mostly irregular(56.4%) while others reported as weekly(16.1%), monthly(12.9%), and fixed terms(4.6%). 3. The main problems related to duty shifts particularly the evening and night duty nurses reported were "not enough time for the family, " "afraid of security problems after the work when returning home late at night." and "lack of leisure time". "problems in physical and physiological adjustment." "problems in family life." "lack of time for interactions with fellow nurses" etc. 4. The forty percent of respondents reported to have '1-2 times' of duty shift rotations while all others reported that '0 time'. '2-3 times'. 'more than 3 times' etc. which suggest the irregularity in duty shift rotations. 5. The majority(62.8%) of study population found to favor the rotating system of duty stations. The reasons for favoring the rotation system were: the opportunity for "learning new things and personal development." "better human relations are possible. "better understanding in various duty stations." "changes in monotonous routine job" etc. The proportion of those disfavor the rotating 'system was 34.7 percent. giving the reasons of"it impedes development of specialization." "poor job performances." "stress factors" etc. Furthermore. respondents made the following comments in relation to the rotation of duty stations: the nurses should be given the opportunity to participate in the. decision making process: personal interest and aptitudes should be considered: regular intervals for the rotations or it should be planned in advance. etc. 6. For the future career plan. the older. married group with longer nursing experiences appeared to think the nursing as their lifetime career more likely than the younger. single group with shorter nursing experiences ($x^2=61.19.{\;}p=.000;{\;}x^2=41.55.{\;}p=.000$). The reason given for their future career plan regardless of length of future service, was predominantly "personal growth and development" rather than financial reasons. For further analysis, the group those with the shorter career plan appeared to claim "financial reasons" for their future career more readily than the group who consider the nursing job as their lifetime career$(x^2$= 11.73, p=.003) did. This finding suggests the need for careful .considerations in personnel management of nursing administration particularly when dealing with the nurses' career development. The majority of respondents preferred the fixed day shift. However, further analysis of those preferred evening shift by age and civil status, "< 25 years group"(15.1%) and "single group"(13.2) were more likely to favor the fixed evening shift than > 25 years(6.4%) and married(4.8%)groups. This differences were statistically significant ($x^2=14.54, {\;}p=.000;{\;}x^2=8.75, {\;}p=.003$). 7. A great majority of respondents(86.9% or n=647) found to prefer the day shifts. When the four different types of duty shifts(Types A. B. C, D) were presented, 55.0 percent of total respondents preferred the A type or the existing one followed by D type(22.7%). B type(12.4%) and C type(8.2%). 8. When the condition of monetary incentives for the evening(20% of salary) and night shifts(40% of. salary) of the existing duty type was presented. again the day shift appeared to be the most preferred one although the rate was slightly lower(66.4% against 86.9%). In the case of evening shift, with the same incentive, the preference rates for evening and night shifts increased from 11.0 to 22.4 percent and from 0.5 to 3.0 percent respectively. When the age variable was controlled. < 25 yrs group showed higher rates(31.6%. 4.8%) than those of > 25 yrs group(15.5%. 1.3%) respectively preferring the evening and night shifts(p=.000). The civil status also seemed to operate on the preferences of the duty shifts as the single group showed lower rate(69.0%) for day duty against 83. 6% of the married group. and higher rates for evening and night duties(27.2%. 15.1%) respectively against those of the married group(3.8%. 1.8%) while a higher proportion of the married group(83. 6%) preferred the day duties than the single group(69.0%). These differences were found to be statistically all significant(p=.001). 9. The findings on preferences of three different types of fixed duty hours namely, B, C. and D(with additional monetary incentives) are as follows in order of preference: B type(12hrs a day, 3days a wk): day shift(64.1%), evening shift(26.1%). night shift(6.5%) C type(12hrs a day. 4days a wk) : evening shift(49.2%). day shift(32.8%), night shift(11.5%) D type(10hrs a day. 4days a wk): showed the similar trend as B type. The findings of higher preferences on the evening and night duties when the incentives are given. as shown above, suggest the need for the introductions of different patterns of duty hours and incentive measures in order to overcome the difficulties in rostering the nursing duties. However, the interpretation of the above data, particularly the C type, needs cautions as the total number of respondents is very small(n=61). It requires further in-depth study. In conclusion. it seemed to suggest that the patterns of nurses duty hours and shifts in the most hospitals in the country have neither been tried for different duty types nor been flexible. The stereotype rostering system of three shifts and insensitiveness for personal life aspect of nurses seemed to be prevailing. This study seems to support that irregular and frequent rotations of duty shifts may be contributing factors for most nurses' maladjustment problems in physical and mental health. personal and family life which eventually may result in high turnover rates. In order to overcome the increasing problems in personnel management of hospital nurses particularly in rostering of evening and night duty shifts, which may related to eventual high turnover rates, the findings of this study strongly suggest the need for an introduction of new rostering systems including fixed duties and appropriate incentive measures for evenings and nights which the most nurses want to avoid, In considering the nursing care of inpatients is the round-the clock business. the practice of the nursing duty shift system is inevitable. In this context, based on the findings of this study. the following are recommended: 1. The further in-depth studies on duty shifts and hours need to be undertaken for the development of appropriate and effective rostering systems for hospital nurses. 2. An introduction of appropriate incentive measures for evening and night duty shifts along with organizational considerations such as the trials for preferred duty time bands, duty hours, and fixed duty shifts should be considered if good quality of care for the patients be maintained for the round the clock. This may require an initiation of systematic research and development activities in the field of hospital nursing administration as a part of permanent system in the hospital. 3. Planned and regular intervals, orientation and training, and professional and personal growth should be considered for the rotation of different duty stations or units. 4. In considering the higher degree of preferences in the duty type of "10hours a day, 4days a week" shown in this study, it would be worthwhile to undertake the R&D type studies in large hospital settings.

  • PDF

Analysis on the trends and causes of inhabitant's behavioral changes in medical institutions's utilization after enforcement of regional medical insurance. (pilot-project area of regional medical insurance; mainly Kun-wi and Kwang-hwa county) (의료보험(醫療保險) 실시이후(實施以後) 지역주민(地域住民)의 의료기관이용행태(醫療機關利用行態) 변화(變化) 추이(推移)와 그 요인(要因)에 관한 조사연구(調査硏究))

  • Park, Jung-Yeon
    • Journal of Korean Public Health Nursing
    • /
    • v.3 no.2
    • /
    • pp.47-76
    • /
    • 1989
  • The objectives of this study was to analyze the major causes of decreasing utilization rate of health care institutios in pilot-project area of regional medical insurance, Kwang-hwa and Kun-wi country. After the implementation of medical insurance, utilization rate of health institutions turned out' to be lower than it was estimated, when the pilot-project of regional medical insurance was planned. It might be due to changes in inhabitant's behavioral attitude toward medical insurance. So this study was made to find measures for financial stability by increasing utilization rate of health care institutions and to be available for basic demand-supply program of medical care. The hypothesis of this study was as follows; First. there is difference in understanding health care institutions between Kun-wi and Kwang-hwa. Second. respondesnts of inquiry survey have exact knowledge of their past experience of treatment taken prior to enforcement of medical insurance, Questionaire survey was made as to each 700 household among total 11, 884 households in Kun-wi and 20,919 households in Kwang-hwa. In case of Kun-wi, 70% of inquired households (491) gave their answers. In Kwang-hwa, the number was 560 households (80% of inquireds). Dollected data was processed and analyzed by way of using SPSS batch system. To evaluate facto rs distribution aspects of data and to make comparison between two area, percentage and $X^2$ distribution were applied. The results were as follows; L The utilization rate of health care institutions in Kun-wi and Kwang-hwa was lower than it was estimated. when pilot-project of medical insurance was planned. 2. Prior to the implementation of medical insurance. inhabitants in two area chose the medical institutions considering such factors. First was medical care fee cheap. second in habitant's residence, Third was the institutions conveniently easy of access. 3. After the implementation of medical insurance. 26.1% of inqurieds in Kun-wi and 41.6% in Kwang-hwa, changed medical institutions. In case of Kwn-wi, from health care institution (p 0.05), and in case of Kwang-hwa, vice versa, from general medical institutions to health care institutions. 4. Evaluation by factors were made such as follows. Inquired gave high marks to following facts: In case of Kun-wi, general medical institutions were difficult of access and relation between patients: was not friendly, but burden of medical expenditure was light. Effects of treatment and facilities was good. In case of Kwang-hwa, inquired gave high evaluation marks to the follow ing facts; facilities of medical institutions was not good, but the burden of medical expenditure was light. 5. After the implementation of medical insurance, the services was evaluated as good, but inquired hopec for lessening the burden of medical expenditure. 6. In case of exact understanding of cost-sharing, the evaluation rate in Kwang-hwa was higher than that of Kun-wi (p < 0.005). And positive attitude toward necessity of medical insurance was also good in Kwang-hwa (p < 0.05). 7. In case of inquired's attitude toward medical institutions, Kwang-hwa showed positive response (p < 0.05) 8. In the case of comparison between general medical institution and health care institution, two area showed similar positive response; medical manpower, facilities of medical institutions and effest: of treatement was good. 9. In comprehensive evaluation of benefit-service; the general medical institution's positiveness was higher than that of health care institutions in Kun-wi. But in Kwang-hwa vice-versa. 10. If the medical expenditure of general medical institution and health care institutions was equal 77% of inquireds in Kun-wi and 59.1% in Kwang-hwa answered that they chose general medical insurance. Considering results above mentioned, the conclusion of this study was made as follows. 1. In Kwang-hwa county, where the understanding of health care institutions's was good, the utilization's of health care institutions was shown high. Therefore, in case of Kwang-hwa, betterment: should be made to induce increasing utilization rate for negative factors of health care institutions. 2. In case of Kun-wi, where the understanding of health care institutions was on the decrease, measures for changing such negative factors should be taken by way of strengthening public relations. And cases of Kwang-hwa should also be studied. 3. On the side of financial stabilization and establishing health care delivery system, primary health care should be available. Therefore, the major cause of inhabitant's avoiding health care institutions should be known. And measures for activating that institutions have to be taken. So, the facilities of health care institution have to be improved up to the level of clinic. And supportive measures for securing equipment and improving health care services should also be taken. It is necessary that strategy for public relations should be employed with policy considerations and supports.

  • PDF

Analysis of Modality and Procedures for CCS as CDM Project and Its Countmeasures (CCS 기술의 CDM 사업화 수용에 대한 방식과 절차 분석 및 대응방안 고찰)

  • Noh, Hyon-Jeong;Huh, Cheol;Kang, Seong-Gil
    • Journal of the Korean Society for Marine Environment & Energy
    • /
    • v.15 no.3
    • /
    • pp.263-272
    • /
    • 2012
  • Carbon dioxide, emitted by human activities since the industrial revolution, is regarded as a major contributor of global warming. There are many efforts to mitigate climate change, and carbon dioxide capture and geological storage (CCS) is recognized as one of key technologies because it can reduce carbon dioxide emissions from large point sources such as a power station or other industrial installation. The inclusion of CCS as clean development mechanism (CDM) project activities has been considered at UNFCCC as financial incentive mechanisms for those developing countries that may wish to deploy the CCS. Although the Conference of the Parties serving as the Meeting of the Parties to the UNFCCC's Kyoto Protocol (CMP), at Cancun in December 2010, decided that CCS is eligible as CDM project activities, the issues identified in decision 2/CMP.5 should be addressed and resolved in a satisfactory manner. Major issues regarding modalities and procedure are 1) Site selection, 2) Monitoring, 3) Modeling, 4) Boundaries, 5) Seepage Measuring and Accounting, 6) Trans-Boundary Effects, 7) Accounting of Associated Project Emissions (Leakage), 8) Risk and Safety Assessment, and 9) Liability Under the CDM Scheme. The CMP, by its decision 7/CMP.6, invited Parties to submit their views to the secretariat of Subsidiary Body for Scientific and Technological Advice (SBSTA), SBSTA prepared a draft modalities and procedure by exchanging views of Parties through workshop held in Abu Dhabi, UAE (September 2011). The 7th CMP (Durban, December 2011) finally adopted the modalities and procedures for CCS as CDM project activities (CMP[2011], Decision-/CMP.7). The inclusion of CCS as CDM project activities means that CCS is officially accredited as one of $CO_2$ reducing technologies in global carbon market. Consequently, it will affect relevant technologies and industry as well as law and policy in Korea and aboard countries. This paper presents a progress made on discussion and challenges regarding the issue, and aims to suggest some considerations to policy makers in Korea in order to demonstrate and deploy the CCS project in the near future. According to the adopted modalities and procedures for CCS as CDM project activities, it is possible to implement relevant CCS projects in Non-Annex I countries, including Korea, as long as legal and regulatory frameworks are established. Though Korea enacted 'Framework Act on Low Carbon, Green Growth', the details are too inadequate to content the requirements of modalities and procedures for CCS as CDM project. Therefore, it is required not only to amend the existing laws related with capture, transport, and storage of $CO_2$ for paving the way of an prompt deployment of CCS CDM activities in Korea as a short-term approach, but also to establish the united framework as a long-term approach.