• International conference on construction engineering and project management
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• 2013.01a
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• pp.107-110
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• 2013

Recently, Korea parliament legislated the Low Carbon Green Growth Act (April, 2012) and approved a bill (May, 2012) to start carbon emission trading system in 2015. It means that for the first time, government would regulate the amounts of carbon emission in private entities, and private entities should attain predefined emission reduction goals by implementing clean development mechanism (CDM) project or buy the Certified Emission Reductions (CERs) from the trading market to avoid penalty. Under these circumstances, it is not easy for them to determine when or how to implement the CDM project because the governmental energy policies about the level of governmental subsidies, periods for free emission allocation, etc. are still under discussion and the future price of the CERs is quite uncertain. Thus, this study presents a real-option based model to assess the financial viability of the CDM project which switches bunker-C oil to liquefied natural gas (LNG). The proposed model is expected to assist private entities in establishing the investment strategy for CDM project under uncertain government energy policies.

• Journal of Distribution Science
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• v.13 no.6
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• pp.17-23
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• 2015

Purpose - Transnational corporations (TNCs) have influenced drastic changes (financial services, manufacturing, labor, technology transfer) in Central Eastern Europe (CEE). This paper examines the indirect changes in the CEE pattern of industrial development and market distribution. Research design, data, and methodology - Over 25 years, neighboring (or rival) countries competed to attract TNCs as a double-edged strategy for privatization and debt reduction. Through their experience attracting foreign direct investment (FDI), many countries started to reflect aspects of national capitalism. Countries also began to realize in 2010 that TNCs sought to enter markets with more favorable conditions for export-oriented manufacturing. Results - The analysis reveals that TNC investment strategies were aimed at eliminating local competition to acquire industrial "brown fields" to convert into "green fields." CEE countries have since strengthened their national systems and the support of large-scale state-owned enterprises and small and medium-sized start-up enterprises. Conclusions - CEE has changed based on industrial development and a regional structure of TNC market distribution and associated government policies. The pattern toward flexible markets gives countries the ability to further their economies.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.45 no.3
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• pp.186-196
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• 2022

In recent years, ESG activities (Environment, Social and Governance) have been paid more and more attention by enterprises and their stakeholders in various countries. China is the largest developing country in the world. The ESG performance of Chinese listed enterprises helps to understand the shortcomings of their sustainable development ability and further enhance the firm value. Moreover, the interaction effect between green innovation investment and ESG activities is of great significance for enterprises to balance the resource allocation between the two factors in the future. Taking listed Chinese manufacturing companies from 2011 to 2020 as an example, this study investigates the influence of ESG activities on financial performance and non-financial performance, and tests the moderating role of green innovation. Our results show that: (1) ESG performance has a negative impact on financial performance; (2) ESG performance has a positive impact on non-financial performance; (3) Green innovation can positively adjust the negative impact of environmental activities on financial performance. However, it will enhance the negative impact of governance activities on financial performance. The interaction effect between green innovation and social activities on corporate financial performance is a substitution effect; (4) With the improvement of green innovation level, the positive impact of ESG overall performance and environmental performance on corporate reputation will also be suppressed.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.431-435
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• 2007

Green Building Certification Program, which was first introduced to residential buildings in Korea in 2002, has been put on track. This program is expected to bring about the effect in the economic viewpoint that was based on a life-cycle-cost analysis, not to mention the environmental viewpoint. However, given the fact that the existing model for feasibility analysis focusing on early investment cost can hardly be applicable to the green buildings because of lacking the life-cycle-cost reduction factor, it remains still difficult to conduct an objective evaluation. The study thus was intended to identify the factors that should be additionally considered in conducting the feasibility study to be implemented through the analysis of the certification items of green buildings as a preliminary study in structuring the evaluation model for feasibility analysis of green buildings.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2013.11a
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• pp.98-99
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• 2013

Recently, solar control facade systems are highlighted due to its low cost and outstanding applicability for green remodeling. However, it has not been long time since the systems were introduced. Therefore, the application study of the solar control system also has been insufficient. In this study, simulated models were developed and three types of solar control systems(i.e., overhang, blind, and screen)are installed in the models. The efficiency of energy savings and investment payback period according to the application of solar control facade system were analyzed.

• Korean Journal of Organic Agriculture
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• v.8 no.2
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• pp.97-110
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• 2000

An organic agriculture should be managed by mixed farming in farm unit as a closed recycling system. Due to restricted purchased of fertilizers from outside, organic farmer has to deal with limited amount of nutrient source in farm unit. Especially the supply of the essential nutrient, nitrogen, mostly depends on legumes fixing nitrogen optimizing the site-adapted crop rotation. Dynamics of humus and metabolic plant carbon and active soil carbon compartment in active and passive humuspool by rotation system was explained, and dynamics of potentially mineralizable nitrogen in organic nitrogen and biomass was discussed. It was also discussed comparison of ammonia emission, potential greenhouse effect, primary energy input, acidification potential, CO2 emission between organic and conventional farming, the nitrate-nitrogen dynamic in the soil profile by organic, integrated and conventional farming system. In conclusion, it was suggested for Korean Organic Agriculture that the importance of legumes and green manures in rotation system for increase/maintenance of soil ferfility, and was pointed out the need of investment for environment impact of Korean organic farming implement.

• Journal of the Korean Society of Environmental Restoration Technology
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• v.7 no.4
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• pp.8-16
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• 2004

The industrialization of central Europe more than 100 ago marked the beginning of densely concentrated buildings in quickly growing cities. A cheap type of roofing material of that time was tar. But it was dangerous because it was high inflammable. Then some roofer had a splendid idea. They used sandy material as a final layer atop the impermeable tar layer. These roofs were much more fire resistant than the typical roofs. In this sandy layer some plant species began to grow spontaneously. This was the beginning of the green roof history of modern Europe. A number of these green roofs survived both world wars. In the early 80's in Berlin alone, 50 such buildings existed and they continued to be waterproof until the present day. Since the 1992 Earth Summit of 1992 in Rio de Janeiro(http://www.johannesburgsummit.org/html/basic_info/unced.html) the term "sustainable development" became of central interest of urban designers. In city regions green roofs had become synonymous with this term. With a small investment, long-lasting roofs can be created. Further back in history, more exciting examples of green roofs can be found. The hanging gardens of antiquity are well-known. There are also green roofs built as insulation against cold and heat all over the world. For over 20 years, roof greening in central Europe has been closely examined for various reasons. Roof greening touches several different disciplines. Of primary interest is the durability of the roofs. But ecologists are also interested in green roofs, for instance in biodiversity research. The beneficial effect of greening on water proofing was also proven. For some time, the issue of fire protection was investigated. According to tests, green roofs received a harsh careful rating. Their fire protective property is considered similar to that of tile roofs. Another recent impulse for the green roof movement in Germany has come from the evident improvement of storm water retention and the reduced burden on the sewer system. The question of whether and how much energy green roofs can save has become an urgent question. The state of the research and also various open questions from a central European point of view will be discussed in the context of international collaboration. Apart from academic considerations, those who involve themselves in this issue take a predominantly positive view of the numerous existing green roofs in Germany. In some cities, green roofs are the typical construction technique for new buildings. A few outstanding examples will conclude this review. In Germany, about 20 companies, some of which operate internationally, specialize in green roof consulting. Learning from each other in an open-ended way with respect to different construction techniques and applications in various climatic regions can only be accomplished through such international collaboration as is taking place here.

• Journal of Convergence for Information Technology
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• v.10 no.1
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• pp.1-12
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• 2020

The Government provides a financial assistance to stimulate firm R&D and innovation activities. Previous papers on the impact of public subsidies on firm R&D investments mainly had a focus on an individual policy tool regardless of potential impacts of other policy instruments. This study addresses this gap by examining the effects of policy mix regarding a subsidy and a tax credit. The empirical analyses from fixed effect model using Survey on Technology of SMEs 2015-2017 revealed valuable points. First, policy mix induces more R&D investment of SMEs, which in turn, shows a complementary relationship between two instruments. Second, even if impact of tax credit controlled, subsidy is positively associated with SMEs R&D investment. These findings justify policy mix interventions to promote SME R&D activity. Moreover, grants can be applied as a more useful policy tool for SMEs that are constrained by resources and capabilities.

• Environmental and Resource Economics Review
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• v.27 no.4
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• pp.613-637
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• 2018

Fuel cell power plant which has advantages as a distributed generation is influenced by high cost of investment and uncertainty of electricity price. This study suggests the model of real options which considers the irreversibility of investment in the fuel cell plant and the uncertainty of electricity price. Most models of real options assume the geometric Brownian motion for convenience, but this study develops the model for the feasibility analysis considering the mean reverting process of electricity price, with the closed form solution on the value of investment option. The result of the empirical analysis considering the data related to the fuel cell generation with the scale of 20MW and the domestic RPS circumstance represents that the investment is feasible without the uncertainty, and is not feasible with the uncertainty. This result implies that the political support as well as the improvement of profit system including revenue and cost are necessary for the activation of the fuel cell power plant.

• Proceeding of Spring/Autumn Annual Conference of KHA
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• 2006.11a
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• pp.281-286
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• 2006

In case of Korea, immovable property like location, land prise or investment value is more highly estimated than quality of life of residents for performance and value of apartment house, because of limited land area or high density of population. But the high level of life has recently caused the increasing demand in better life. As there is no cases to provide the house in bulk due to the housing market condition, it is necessary to evaluate performance and value of structure, disaster prevention safety, habitability, antiquated condition of building and equipment, maintenance condition and so on that has importantly influence on resident's life quality. So, this study aims to understand the actual condition of environmental performance for the present apartment by comparing the designated apartment, which is ready to have completed in Daegu, with the mixed use residential building, which gained the best grade for green building certification system. Also by analyzing and evaluating a right to enjoy sunshine, floor impact noise etc. and indoor air quality.