• Journal of Korean Institute of Industrial Engineers
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• v.40 no.5
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• pp.481-491
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• 2014

In this paper, we discussed a problem for improving the throughput of a crankshaft manufacturing line in an automotive factory in which the budget for purchasing new machines and installing additional buffers is limited. We also considered the constraint of available space for both of machine and buffer. Although this problem seems like a kind of buffer allocation problem, it is different from buffer allocation problem because additional machines are also considered. Thus, it is not easy to calculate the throughput by mathematical model, and therefore simulation model was developed using $ARENA^{(R)}$ for estimating throughput. To determine the investment plan, a modified Arrow Assignment Rule under some constraints was suggested and it was applied to the real case.

• Journal of Korea Society of Industrial Information Systems
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• v.23 no.3
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• pp.87-95
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• 2018

Recently, with the technological development of artificial intelligence, related market is expanding rapidly. In the artificial intelligence technology field, which is still in the early stage but still expanding, it is important to reduce uncertainty about research direction and investment field. Therefore, this study examined technology trends using text mining and topic modeling among big data analysis methods and suggested trends of core technology and future growth potential. We hope that the results of this study will provide researchers with an understanding of artificial intelligence technology trends and new implications for future research directions.

• Korean Management Science Review
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• v.10 no.1
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• pp.81-105
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• 1993

The objective of the paper is to develop models for determining the aggregate budget size in long-range R&D planning of KT(Korea Telecom.) and for allocating it by strategically adopted technologies for KT's TOP(Telecommunication-Oriented Paradise) Strategy. In the model of R&D budget size determination, the linear regression analysis is applied. In allocating the R&D expenditure, criteria weighting and technological importance ranking are determined by means of the Analytic Hierarchy Process(AHP) as a decision aid, along with hierarchical representation and pairwse comparisons. R&D budget analysis provides to basic data for the mid-and long-range R&D planning. The model then needs to be adjusted as the TOP project plan becomes specific. Resource allocation model for R&D based on AHP can be used to identify the importance of the technologies for TOP according to short-, mid-, and long-term perspectives without further modification. It is expected that the R&D budget analysis model works as the basis for planning R&D investment strategies and that the resource allocation model for R&D contributes to the effective use of the limited resource.

• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.191-212
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• 1992

This paper discusses the role of money in the process of capital accumulation where financial markets are impeded by contract enforcement problems in the context of overlapping generations framework. In particular, in less developed countries (LDCs) creditors may know little about the repayment capability of potential debtors due to incomplete information so that financial instruments other than money may not acceptable to them. In this paper the impediments to the operation of the private finanical markets are explicitly modelled. We argue that creditors cannot observe actual investment decisions made by the potential borrowers, and as a result, loan contracts may not be fully enforceable. Therefore, a laissez-faire regime may fail to provide the economy with the appropriate financial instruments. Under these circumstances, we introduce a government operated discount window (DW) that acts as an open market buyer of private debt. This theoretical structure represents the practice of governments of many LDCs to provide loans (typically at subsidized interest rates) to preferred borrowers either directly or indirectly through the commercial banking system. It is shown that the DW can substantially overcome impediments to trade which are caused by the credit market failure. An appropriate supply of the DW loan enables producers to purchase the resources they cannot obtain through direct transactions in the credit market. This result obtains even if the DW is subject to the same enforcement constraint that is responsible for the market failure. Thus, the DW intervention implies higher investment and output. However, the operation of the DW may cause inflation. Furthermore, the provision of cheap loans through the DW results in a worse income distribution. Therefore, there is room for welfare enhancing schemes that utilize the higher output to develop. We demonstrate that adequate lump sum taxes-cum-transfers along with the operation of the DW can support an allocation that is Pareto superior to the laissez-faire equilibrium allocation.

• Journal of Korea Port Economic Association
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• v.29 no.3
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• pp.159-174
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• 2013

This paper mainly deals with the appropriation of ship voyage allocation, using a heuristic regression model, in order to reduce total costs incurred in port, yard and at sea under the specific port condition. Because of different behavior of costs incurred in port, yard and at sea, an effort to minimize these costs by adjusting the number of voyages for three ship classes(50,000, 100,000, and 150,000-ton) should be made. For instance, if the port managers attempt to reduce the sea transport cost by increasing the annual allocated number of ship voyages classed 150,000-ton for economies of scale, they have no choice but to suffer a significant increase in queueing cost due to port congestion. To put it differently, there are trade-off relationships among the costs incurred in port, yard, and at sea. We utilized a computer simulation result to perform a couple of regression analyses in order to figure out the appropriate range of allocated number of voyages of each ship class using a heuristic approach. The detailed analytical results will be shown at the main paper. We also suggested a net present value(NPV) model to make a proper investment decision for an additional berth of 200,000-ton class that alleviates port congestion and reduces transport cost incurred both in port and at sea.

• Journal of Korea Technology Innovation Society
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• v.21 no.3
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• pp.938-968
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• 2018

Korea's basic research has been rapidly expended in both quantative and qualitative aspect since establishment of 'the Korea Science & Engineering Foundation' in 1977, proclaiming of 'the First Year of Basic Research Promotion' and enactment of 'the Basic Sciences Promotion Act' in 1989. Despite the continuous increment of government basic research funding, the problem of low perceptions of university researchers on the funding increment has been constantly raised. Based on an intrinsic review on the core issues are diagnosed based on Korean academics' basic research status analysis and future challenges are proposed based on the precedent diagnoses. The six key issues that need to take the next step in Korean academics' basic research are as follows: (1) basic research investment in universities, (2) appropriate research expenses for supporting individual researcher, (3) basic research funding allocation method, (4) maintaining the sustainable success rate of research projects, (5) systematic and strategic support for excellent researchers, (6) creating research-immersive environment. The five challenges to promote basic research in academics are as follows: (1) increasing in university research expenses, (2) diversification of basic research funding allocation method, (3) establishment of research field-specified support system and predictable principles, (4) stable and sufficient support for outstanding researchers, (5) reducing burden on research administration.

• Journal of the Korea Institute of Military Science and Technology
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• v.12 no.1
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• pp.70-79
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• 2009

Currently, the investment on Research and Development(R&D) for defense core technology is continuously increasing to maintain advanced country's R&D level. In accordance with this trend, the national defense R&D investment management system is being more strengthening, and importance of performance evaluation is being emphasized more and more. However, the existing indicators of performance evaluation for defense core technology R&D is limited in efficient management because of the qualitative evaluation items and subjective allocation of points. In this paper, we developed a novel indicator for defense core technology R&D performance evaluation through domestic and foreign related literature and inquiry, brainstorming, and analysis techniques by Stepwise Multiple linear Regression(SMR) and Analytic Hierarchy Process(AHP). And we verified effectiveness of proposed indicators of performance evaluation by comparing with the existing evaluation indicators. Our proposed indicators for performance evaluation will create superiority performance on defense R&D fields.

• New & Renewable Energy
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• v.19 no.2
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• pp.13-22
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• 2023

With the increased interest in renewable energy, various hydrogen production technologies have been developed. Hydrogen production can be classified into green, blue, gray, and pink hydrogen depending on the production method; each method has different technical performance, costs, and CO₂ emission characteristics. Hence, selecting the technology priorities that meet the company strategy is essential to develop technologically and economically feasible projects and achieve the national carbon neutrality targets. In addition, in early development technologies, analyzing the technology investment priorities based on the company's strategy and establishing investment decisions such as budget and human resources allocation is important. This study proposes a method of selecting priorities for various hydrogen production technologies as a specific implementation plan to achieve the national carbon neutrality goal. In particular, we analyze key performance indicators for technology, economic feasibility, and environmental performance by various candidate technologies and suggest ways to score them. As a result of the analysis using the aforementioned method, the priority of steam methane reforming (SMR) technology combined with carbon capture & storage (CCS) was established to be high in terms of achieving the national carbon neutrality goal.

• Architectural research
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• v.7 no.2
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• pp.91-96
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• 2005

The purpose of this study is to clarify the reality of labor and capital productivity in the construction industry through an industry-level approach and to analyze the relationship between labor and capital productivity using a Cobb-Douglas production function. According to the research results, the construction industry has shown a very high capital productivity, while labor productivity has kept up a low level during the 1980s and 1990s. The reason was because of the lack of skillful construction workers and the decrease of capital. Meanwhile, the construction productivity has greatly increased since 2000 when there was no change in wages. This was because of a large inflow of low-wage foreign workers while the amount of value added has dramatically increased due to the liberalized sale price of apartment buildings. According to the analysis by the Cobb-Douglas production function, the elasticity coefficient of V/L to K/L in the construction industry had decreased from 1.1663 in the $1^{st}$ period(1971-1988) to 0.4465 in the $2^{nd}$ period(1989-1997), and to 0.1664 in the $3^{rd}$ period(1998-2003). Such a result means that the allocation of labor has gradually increased while the allocation of capital has decreased. Moreover there was a big increase in allocation of labor after 1998 due to the excessive deterioration of capital. In conclusion, in order to raise the construction productivity and to avoid labor-intensive production methods, investment for capital should be more increased. In particular, new machinery and equipment that can actually substitute human labor in construction sites should be more developed and applied to construction sites.

• Journal of the Economic Geographical Society of Korea
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• v.11 no.2
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• pp.233-250
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• 2008

This paper aims to analyze the characteristics of BTL, and to propose the effective models connecting BTL and project finance, through the analysis of current state and case study of BTL. The main results of this study are as follows. Firstly, BTL business have been increasing fast, and most of projects are middle size projects below 100 billion Won. Nextly, key suggestions for improving BTL business model are analyzed, which are, first, risk allocation between public and private interests, second, improvement of method for selecting private investment consortium, and third, alleviation of long-term burden of local finance. Finally, effective models for connecting BTL and project finance, which are, first, model for using asset backed securities, second, model for dividing project corporations into construction corporation and operation corporation, and third, model for risk allocation between public and private interests.