• Korean Chemical Engineering Research
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• v.54 no.3
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• pp.320-331
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• 2016

Linze-Donawitz gas (LDG) adjunctively produced in the steel mill contains over 60% of CO. Two processes that recover high purity CO from LDG were considered: COSORB and CO-Pressure swing adsorption (PSA). This study aimed to decide which one is more economically feasible than the other by techno-economic analysis (TEA). From the technical point of view of TEA, the process flow diagram (PFD) was constructed, the mass and energy balances were calculated, and the equipment type and size were determined in order to estimate the total capital investment (TCI) and the total production cost (TPC). From the economic point of view of TEA, economic performance such as return on investment (ROI) and payback period (PBP) was evaluated, and the sensitivity analysis was carried out to identify key factors influencing ROI and PBP. It was found that CO-PSA is more economically feasible due to higher ROI and lower PBP. The CO price highly influenced ROI and PBP.

• Journal of KIBIM
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• v.7 no.3
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• pp.31-39
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• 2017

BIM is effective to improve the labor productivity of construction participants. From this point of view, it is important to analyze the outcome related with BIM Labor which covers most of the BIM investment costs. This research focuses on BIM RFI which is one of the major task of the BIM labor and analyze the outcomes. In addition, this research was quantitatively analyzed by the standby time and related cost caused by BIM labor, which affect the results of the project participants. To this end, analytical standby queue model was utilized to analyze the labor focusing on micros TASK. 11 projects were selected to analyze the results of BIM labor and RFI that the project participants requested to the BIM labor was collected. Through this, it collected variables for analyzing results, and Finally, we pulled out 4 projects for analysis. In this study, the basic results analysis of RFI processing of the BIM labor, the probabilistic analysis of BIM labor service status, and the economic analysis of BIM labor optimal inputs were performed by using the research model presented. The results of this study can be utilized to formulate the optimal strategy for BIM labor inputs(e.g. number of employees, level, time point, etc.) of the construction phase. Moreover, it can contribute to ensuring the credibility of the BIM ROI results by presenting the cost of BIM services in BIM ROI analysis and the standby cost of project participants.

• Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
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• v.35 no.6
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• pp.599-608
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• 2017

Cracks on the asphalt road surface can affect the speed of the car, the consumption of fuel, the ride quality of the road, and the durability of the road surface. Such cracks in roads can lead to very dangerous consequences for long periods of time. To prevent such risks, it is necessary to identify cracks and take appropriate action. It takes too much time and money to do it. Also, it is difficult to use expensive laser equipment vehicles for initial cost and equipment operation. In this paper, we propose an effective detection method of road surface defect using ROI (Region of Interest) setting and cany edge detection method using UAV image. The results of this study can be presented as efficient method for road surface flaw detection and maintenance using UAV. In addition, it can be used to detect cracks such as various buildings and civil engineering structures such as buildings, outer walls, large-scale storage tanks other than roads, and cost reduction effect can be expected.

• Journal of Korean Society for Quality Management
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• v.40 no.1
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• pp.39-48
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• 2012

An early detection system for warranty issues periodically collects customers' claim data and automatically reports alarms about emerging issues based on statistical algorithms. It helps companies to reduce an issue definition time and save the handling cost of warranty claims. This paper provides an evaluation framework to validate the economic effect of an early detection system project. For this purpose, we present economical index of a project with explicit formulas such as ROI(return on investment), PP(payback period), NPV(net present value), PI(profitability index) and IRR(internal rate of return) and analyze the sensitivities of the index according to the variation of project input parameters. The proposed analysis framework is expected to be used for evaluating economic values of various system integration projects.

• Information Systems Review
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• v.9 no.2
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• pp.149-168
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• 2007

As the need for quantitative qualities of IT investment performance heightens, numerous research organizations are developing various measurement methods for the quantitative evaluation and its currency value conversion. Corporations utilizing these methods to evaluate IT investment performance are gradually increasing. However, working-level staff in the corporations that have introduced the quantitative evaluation can not assure if the evaluation sufficiently reflects the actual effect provided by IT since the results arising from the conversion of currency value can't be visibly confirmed. This study tries to identify whether the quantitative evaluation of IT investment performance can be explained in terms of the level of consumer satisfaction proven by the qualitative evaluation by analyzing the level of consumer satisfaction and quantitative evaluation of a case company and identifying the correlation between them. As the result of the case study, the following points have been concluded. Firstly, the currency value of IT effect correlates with the level of consumer satisfaction. Secondly, in order to come up with a rational currency value of IT effect, developing an indicator as well as managing data on currency conversion that will enable the internal system's efficiency to become more quantitative is essential. Thirdly, IT ROI is not appropriate to compare the performance between systems and is utilized as a measurement standard for each system's performance and efficiency. Lastly, quantitative evaluation is still inadequate in the evaluation of the system's strategic side, and consumer satisfaction can be utilized as a supplementary method.

• Journal of Energy Engineering
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• v.16 no.4
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• pp.202-214
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• 2007

The concept of HSA (Home Service Aggregator) is derived from performing the energy IT business efficiently as well as successfully launcing a new service based on BPL (Broadband over Power Line). The HSA business using a BPL can extend the field of energy industry and an give a chance to create a new demand by consumer-oriented services. This study focuses on the exact evaluation of HSA business using BPL, and reasonable trusty evaluation should be the first step to launch the HSA business. In this study, the categories of cost are comprised of equipment (mainly RSM and MGW) cost, instalation cost, and maintenance cost. AMR (Automatic Meter Reading), internet integration billing service, integration charging service, internet service, sorority service, and electricity safety are listed for benefit. In this study, the ROI of HSA business is 0.9594, which is less than 1. However, that value does not consider the electricity safety benefit which is classified as a social benefit. Therefore, the value can be above 1 if it includes social and private benefits.

• Management & Information Systems Review
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• v.22
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• pp.137-165
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• 2007

It seems high time to increase productivity by adopting e-business to overcome challenges posed by both external factors including the appreciation of Korean won, oil hikes and fierce global competition and domestic issues represented by disparities between large corporations and small and medium enterprises (SMEs), Seoul metropolitan and local cities, and export and domestic demand all of which weaken future growth engines in the Korean economy. The demands of the globalization era are for innovative changes in businessprocess and industrial structure aiming for creating new values. To this end, e-business is expected to play a core role in the sophistication of the Korean economy through new values and innovation. In order to examine business performance in e-business-adopting industries, this study analyzed the home shopping industry by closely looking into the financial ratios including the ratio of net profit to sales, the ratio of operation income to sales, the ratio of gross cost to sales cost, the ratio of gross cost to selling, general and administrative (SG&A) expense, and return of investment (ROI). This study, for best outcome, referred to corporate financial statements as a main resource to calculate financial ratios by utilizing Data Analysis, Retrieval and Transfer System (DART) of the Financial Supervisory Service, one of the Korea's financial supervisory authorities. First of all, the result of the trend analysis on the ratio of net profit to sales is as following. CJ Home Shopping has registered a remarkable increase in its ratio of net profit rate to sales since 2002 while its competitors find it hard to catch up with CJ's stunning performances. This is partly due to the efficient management compared to CJ's value of capital. Such significance, if the current trend continues, will make the front-runner assume the largest market share. On the other hand, GS Home Shopping, despite its best organized system and largest value of capital among others, lacks efficiency in management. Second of all, the result of the trend analysis on the ratio of operation income to sales is as following. Both CJ Home Shopping and GS Home Shopping have, until 2004, recorded similar growth trend. However, while CJ Home Shopping's operating income continued to increase in 2005, GS Home Shopping observed its operating income declining which resulted in the increasing income gap with CJ Home Shopping. While CJ Home Shopping with the largest market share in home shopping industryis engaged in aggressive marketing, GS Home Shopping due to its stability-driven management strategies falls behind CJ again in the ratio of operation income to sales in spite of its favorable management environment including its large capital. Companies in the Group B were established in the same year of 2001. NS Home Shopping was the first in the Group B to shift its loss to profit. Woori Home Shopping has continued to post operating loss for three consecutive years and finally was sold to Lotte Group in 2007, but since then, has registered a continuing increase in net income on sales. Third of all, the result of the trend analysis on the ratio of gross cost to sales cost is as following. Since home shopping falls into sales business, its cost of sales is much lower than that of other types of business such as manufacturing industry. Since 2002 in gross costs including cost of sales, SG&A expense, and non-operating expense, cost of sales turned out to have remarkably decreased. Group B has also posted a notable decline in the same sector since 2002. Fourth of all, the result of the trend analysis on the ratio of gross cost to SG&A expense is as following. Due to its unique characteristics, the home shopping industry usually posts ahigh ratio of SG&A expense. However, more than 80% of SG&A expense means the result of lax management and at the same time, a sharp lower net income on sales than other industries. Last but not least, the result of the trend analysis on ROI is as following. As for CJ Home Shopping, the curve of ROI looks similar to that of its investment on fixed assets. As it turned out, the company's ratio of fixed assets to operating income skyrocketed in 2004 and 2005. As far as GS Home Shopping is concerned, its fixed assets are not as much as that of CJ Home Shopping. Consequently, competition in the home shopping industry, at the moment, is among CJ, GS, Hyundai, NS and Woori Home Shoppings, and all of them need to more thoroughly manage their costs. In order for the late-comers of Group B and other home shopping companies to advance further, the current lax management should be reformed particularly on their SG&A expense sector. Provided that the total sales volume in the Internet shopping sector is projected to grow over 20 trillion won by the year 2010, it is concluded that all the participants in the home shopping industry should put strategies on efficient management on costs and expenses as their top priority rather than increase revenues, if they hope to grow even further after 2007.

• Korea Journal of Hospital Management
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• v.12 no.3
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• pp.47-67
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• 2007

This paper aims at suggesting several ways lo change financial vulnerability and to improve managerial capability of local public hospitals (LPHs) in Korea through the identification of factors affecting profitability. Several findings of the research are as follows: To begin with, LPHs exhibited a statistically significant difference in their profitability from one another, according to tile analyses of their profitable margins from tile general characteristics. It depends on the number of hospitals in the area, the population of the hospital-built area, the number of competing hospitals, the number of staff per 100 beds, the opening of special clinic, the educational function, and the capacity of rooms. However, there was no variable in the managerial characteristics, presenting a significant difference, in contrast with hospitals which have been managed by private companies and made a great amount of profits. Second, according to the analyses of profit differences in behavioral effort-characteristics, a statistically significant difference was revealed upon the basis of the efforts to improve the clinic service, invite special patients, and shorten the period of being hospitalized. Third, the result of analyses about the difference of profitability from medical care and finance is statistically significant in the rate of labor cost, the rate of management cost, bed-occupancy rate, and the period of being hospitalized. Fourth, according to the analyses of the factors influencing the net profit ratio of the entire capital, Adjusted explanatory power(Adjusted $R^2$) was shown up to 65.2%, which is high. To compare the adjusted explanatory power stage by stage, the first stage model applying only two variables such as structural and strategic characteristics exhibited 23.8%, and the second stage model adding financial characteristics showed 51.5%. The explanatory power was much improved up to 65.2% when the third stage model incorporated the outcome of medical care performance. When the return on investment(ROI) was examined by using the multi-variate linear regression analysis at the final model of third stage, it was found that ROI had a positive relationship with the increase rate of patients, labor costs per doctor, and medical care rate of socially protected inpatients. However, it revealed that ROI had a negative relationship with the ratio of labor costs, the number of patients per managerial staff, and occupancy rate of rooms, respectively. The research suggests that in order for LPHs to increase profitability, LPH, should make efforts not only to attract patients to the hospitals without any discrimination of the patients depending on their financial status, but also to develop efficient management methods to reduce labor costs.

• Nuclear Engineering and Technology
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• v.53 no.7
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• pp.2418-2425
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• 2021

Monazite is a phosphate mineral that contains thorium (Th) and rare earth elements. The Th concentration in monazite can be as high as 500 ppm, and it has the potential to be used as fuel in the nuclear power system. Therefore, this study aimed to conduct the techno-economic analysis (TEA) of Th extraction in the form of thorium oxide (ThO₂) from monazite. Th can be extracted from monazite through an alkaline fusion method. The TEA of ThO₂ production studied parameters, including raw materials, equipment costs, total plant direct and indirect costs, and direct fixed capital cost. These parameters were calculated for the production of 0.5, 1, and 10 ton ThO₂ per batch. The TEA study revealed that the highest production cost was ascribed to installed equipment. Furthermore, the highest return on investment (ROI) of 21.92% was achieved for extraction of 1 ton/batch of ThO₂, with a payback time of 4.56 years. With further increase in ThO₂ production to 10 ton/batch, the ROI was decreased to 5.37%. This is mainly due to a significant increase in the total capital investment with increasing ThO₂ production scale. The minimum unit production cost was achieved for 1 ton ThO₂/batch equal to 335.79 $/Kg ThO₂.

• Journal of Agricultural Extension & Community Development
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• v.28 no.4
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• pp.167-174
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• 2021

This study analyzed the feasibility of custom work service to deal with the imbalance of farm labor supply due to population aging. The economic feasibility analysis is based on the case of Bonghwang-myeon in Naju-si, where the majority of farm work is entrusted to local agricultural cooperative. To assess the project profitability and economic feasibility based on the projected cash flow for the next ten years, Return On Investment (ROI), Net Present Value (NPV), and Internal Rate of Return (IRR) of the projects were calculated. The results showed that ROI is estimated at 13.7%, and NPV and IRR are KRW 1,504,932,000 and 15.6%, respectively, with a discount rate of 4.5%, indicating a good enough profitability. Furthermore, a sensitivity analysis with government support as part of an assumption showed that without the support, NPV turns negative, implying that the project is not profitable, and that government support for at least 30% of the cost is needed to secure the economic feasibility of a project. Hence, to promote agricultural work entrustment, it is necessary for the government to partly support the agricultural machinery and facility costs, which require a considerable amount of initial investment.