• The Journal of the Korea Contents Association
• /
• v.21 no.12
• /
• pp.337-347
• /
• 2021

Land is key natural resource that Chinese government actually owns. Real estate and land development have played an important part in China's urban development and economic development. The Chinese local governments' land development policies can mainly be characterized as the establishment of economic development zones and the development of new towns. Given the great importance of these measures, we can expect that these policies can generate noticeable impacts on land development and land price. However, little research has explored these impacts empirically. Using the data collected from land development projects of three districts in Linyi city-old town, new town, economic development zone, this paper attempts to investigate the impact of government development policy on land development and land price. This research chooses investment amount and land price as dependent variables. The multiple regression results demonstrate that the local government's land Development policies can affect land investment size and land price significantly. As we have noticed, the target of government development policy is to make use of urban land resources more scientifically and efficiently. Based on my empirical analysis, some useful insights can be provided for improving our understanding concerning the effects of these government land development policies.

• Journal of Energy Engineering
• /
• v.17 no.1
• /
• pp.31-37
• /
• 2008

At present, the target amount of demand-side management and investment cost of EE (Energy Efficiency) program, which consists of high-efficiency appliances, has been estimated simply by the diffusion function based on the real historical data in the past or last year. In the internal and external condition, the penetration amount of each appliance has been estimated by Bass diffusion model which is expressed by time and three coefficients. And enough acquisition of real historical data is necessary for reasonable estimation of coefficients. In energy efficiency, to estimate the target amount of demand-side management, the penetration amount of each appliance should be primarily forecasted by Bass diffusion model in Korea. On going programs, however, lightings, inverters, vending machine and motors have a insufficient real historical data which is a essential condition to forecast the penetration amount using a Bass diffusion model due to the short period of program progress. In other words, the forecast of penetration amount may not be exact, so that it is necessary for the method of forecast to apply improvement of method. In this paper, the penetration amount of high-efficiency appliances is forecasted by Bass, virtual Bass, Logistic and Lawrence & Lawton diffusion models to analyze the diffusion progress. And also, by statistic standards, each penetration is compared with historical data for model suitability by characteristic of each appliance. Based on the these result, in the forecast of penetration amount by diffusion model, the reason for error occurrence caused by simple application of diffusion model and preferences of each diffusion model far a characteristic of data are analyzed.

• Journal of The Korean Digital Architecture Interior Association
• /
• v.10 no.2
• /
• pp.5-12
• /
• 2010

Unlike housing development project that can ensure profit by selling built units, a hotel development depends on long-term business operation to be profitable due to characteristics of service industry. The expected cash flow has substantial uncertainty depending on room occupancy rate and room charge. Thus, even after construction is complete, business risk tends to rise. It is necessary to ensure strategic response to uncertainty in future value of a hotel. The objective of the study is to explore strategic measures to deal with risk and uncertain future value in hotel development project by adopting abandonment option, which is a type of real options. The case in analysis had sevenyears of project period: Two years for construction, and five years for operation; a plan was made to sell the hotel after five years' of operation. For the research purpose, option value ofrecoverable investment amount was estimated, and value of abandonment option was KRW 124.921 billion. When abandonment option is applied, the project value was deemed to be KRW 120.592 billion. Generally, the amount of loss is enormous when a real estate project like a hotel development fails, and therefore, application of option is expected to be an effective measure to leverage uncertainty of a project.

• 제어로봇시스템학회:학술대회논문집
• /
• 1990.10b
• /
• pp.1259-1264
• /
• 1990

During the past two decades, a lot of researches have been done on the synthesis of grassroot heat exchanger networks(HEN). However, few have been dedicated to retrofit of existing heat exchanger networks, which usually use more amount of utilities (i.e. steam and/or cooling water) than the minimum requirements. This excess gives motivation of trades-off between energy saving and rearranging investment. In this paper, an algorithmic-evolutionary synthesis procedure for retrofitting heat exchanger networks is proposed. It consists of two stages. First, after the amount of maximum energy recovery(MER) is computed, a grass-root network featuring minimum number of units(MNU) is synthesized. In this stage, a systematic procedure of synthesizing MNU networks is presented. It is based upon the concept of pinch, from which networks are synthesized in a logical way by the heuristics verified by the pinch technology. In the second stage, since an initial feasible network is synthesized based on the pre-analysis result of MER and must-matches, an assignment problem between new and existing units is solved to minimize total required additional areas. After the existing units are assigned, the network can be improved by switching some units. For this purpose, an improvement problem is formulated and solved to utilize the areas of existing units as much as possible. An example is used to demonstrate the effectiveness of the proposed method.

• Journal of Technologic Dentistry
• /
• v.34 no.4
• /
• pp.361-368
• /
• 2012

Purpose: The aim of this study was to analysis the composition on the centrifugal casting and the oxide on the casting temperature. Methods: The nickel based alloy were used in this study. Wax pattern specimens (10*10*2) were invested with phosphate-bonded investment in metal rings, the liquid/powder ratio and overall burn-out schedules for these investments were followed in accordance with the manufacturer's instructions. After casting, the alloy specimens were evaluated as regards composition(EPMA). The casting temperatures were as follows: $1400^{\circ}C$ and $1700^{\circ}C$. The quantitative analysis of oxides were scanning electron microscope(SEM), energy dispersive spectroscopy(EDS) and line scanning. Results: Nearer the injection lines showed that there is a large amount of nickel. Quantitative of oxides of Ni-Cr alloy cast from $1400^{\circ}C$ is lager than Ni-Cr alloy cast from $1700^{\circ}C$. Conclusion: Casting when using a centrifugal casting machine centrifugal force affects the composition of the alloy. The higher the temperature, the amount of oxide that is generated many.

• Management & Information Systems Review
• /
• v.6
• /
• pp.137-162
• /
• 2001

Our business conglomerates are sharing their fates economically because of mutual debt warranty among their own affiliates and excessive financial loans. For this reason, it is inevitably restrictive to obtain the whole information on such conglomerates by individual and consolidated financial statements. To solve this problem, the system of combined financial statement was introduced through modifications of the Act of the outside audit of corporations in 1988. As a result, 15 out of this nation's 30 major business conglomerates prepared and submitted their own combined financial statements. In this paper, all financial statements are grouped into financial and non-financial parts, based on characteristics of business control and combined financial statement. Then the business size, financial rate and internal transactions for each of the conglomerates are analyzed, based on which problems of the combined financial statement as announced publicly are clarified. For the system, this study suggests improvement points such as a sufficient publication of any possible situations and interest coordination caused between the date of business settlement and that of preparing combined financial statements by applying principles of sharing to the evaluation of valuable instrument papers for investment and by determining the amount, 5% accounting for the total amount of debt warranty, foreign exchange assets and debts.

• Journal of the Korean Society of Industry Convergence
• /
• v.25 no.1
• /
• pp.55-60
• /
• 2022

This study conducted the measurements of air flow rate for blower systems with experiment and numerical. A new airflow rate test method is suggested, with which it is possible to accurate measurements and calculate the air flow rate for blower systems. The blower(axial fan) is an industrial fluid machine device that supplies a large amount of air by driving an impeller with an electric motor, and it is widely used throughout the industry such as steel, power plant, chemical, semiconductor, LC D, food, and cement. The airflow from the blower is for exchanging the heat in the cooling unit or heat exchanger. The temperature of coolants and hydraulic oil primarily depends on the amount of airflow rate through the cooling package so its accurate estimation is very important. Moreover, it required a larger investment in time and cost since it could not be executed until the system is actually made. Therefore, this research is intended to examine the phenomenon of air flow pattern when testing air flow rate, suggested new test method, and show the result of the validation test.

• Proceedings of the Korean Society of Crop Science Conference
• /
• 2022.10a
• /
• pp.162-162
• /
• 2022

This study was carried out to investigate the effects of nitrogen, phosphorus, potassium (three main macro elements of fertilizer) on growth, yield and mineral contents of Platycodon grandiflorum for. duplux and to obtain the basic data of the proper fertilizer application for increasing the yield of P. grandiflorum for. duplux. Plant height showed significantly good results in all fertilization treatments compared to non fertilizer group (the control, T0), and in particular, the highest was 85.7 cm in the complete group (T4). Chlorophyll content showed a high amount in the range of 20.7 to 23.8 against all fertilization treatment groups, except for non fertilizer (T0) and non nitrogen (T1). The fresh weight of roots were higher quantity than other fertilization treatments in the complete group 55.8 g (T4). The mineral nutrient content ofNa, Mg, Cu and Al of the roots of P. grandiflorum for. duplux from T1 group showed the lowest amount compared to other groups. In addition, P from T2 group, Mn from T3 group and Ca, Fe, Zn from T4 group also exhibited the lowest mineral content compared to other groups respectively.

• Korean Journal of Agricultural Science
• /
• v.18 no.2
• /
• pp.164-179
• /
• 1991

Korean agriculture has encountered two problems. One is internal income disparity between rural and urbarn area and the other is external Uruguay Round trade problems as an abolition of direct and indirect import barriers, reduction in export subsidies and to reduce internal price supports. These problems will be brought severe farm problems such as decreasing farm household income and repressing agricultural growth in the near future. Considering the above inevitable facts Korean government has implemented several development projects such as rural industrial area development project, rural special production area development project, leisuresight seeing farm development project, traditional food development project, unskilled labor training project for off-farm employment and so on, to increase farm household income through off-farm income increase. This study was mainly concentrated on the identification of operational problems and post evaluation of the rural special production area development projects which aimed at increasing non-farm incomes and giving employment opportunity for rural farmers in small factories processing regional special farm products and mine products. The main findings and problems to be solved for the successful project implementation are as followed ; 1. Total number of the special production area development projects as of the end of 1991 was amount to 138, and total number of farm household participated were estimated at 2,079, and total amount of off-farm income per farm household was reached to 3,011 thousand won. 2. The total number of processed special products have increased from 21 items in 1981 to 56 items in 1991. On the other hand the total number of farm household participated in the projects have decreased from 2,518 to 2,079 during same period. 3. Total amount of investment for the projects has increased from 1,429 million won in 1981 to 24,760 million won in 1991 but the rate of G'T loan of the total investment has reduced from 24.5% to 5.2% during same period. 4. 138 special production area development project are classified into 6 kinds of commodity groups such as 19 of general industrial good production areas, 52 of folks-industrial art objects production areas, 39 of food processing areas, 9 of fiber and texstile processing areas, 18 of agricultural and fishery inputs processing areas and 1 of stone processing area. 5. The total production value in 1990 was estimated 20,169 million won of which export was amount to 2,627 million won. 6. The finacial rate of return of the UNGOK KUGIJA Tea processing Project operated by UNGOK coops and BAKSAN ginseng tea processing project were estimated at 45.4% (B/C Ratio=1.17, NPV=152.5 million won) and 17.7% (B/C Ratio=1.12, NPV=120.2 million won) respectively. 7. More favorite terms and condition of the loan including collateral problems have to be given to farmers participated. Heavy investment and G'T subsidy policies should be started for the successful project implementation anf farm household income increase. 8. To expand market demand of the rural special goods G'T have to provide special program of TV or other mass media for commodity propaganda and the total cost concerned must be supported by G'T subsidy. 9. The special farm products as GUGUJA,MOSI'Ramie', Ginseng. SOGOKJU,HEMP,Mushroom.DUGYUNJU and Chesnut processing projects have to be propelled and expanded for off-farm income increase in Chung Nam Province. 10. Direct operational pattern of the special production area by coops is more favorable to farmers and recommendable considering with off-farm income increase and market demand creation throughout Korea. 11. In rural area, special organizations for project appraisal are not exist. Accordingly special training program, project appraisal, formulation and preparation for civil servants concerned have to be prepared for project selection and sound implementation under limited budget and financial support.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.18 no.5
• /
• pp.63-75
• /
• 2023

This study conducted empirical analysis on the factors affecting the investment performance of 205 domestic venture funds (with a total liquidation amount of 7.25 trillion KRW) newly formed from 2007 to 2017 and completely liquidated as of the end of 2022. Due to the nature of private equity funds, obtaining empirical data is extremely challenging, especially for data post-COVID-19 era liquidations. Nevertheless, despite these challenges, it is meaningful to analyze the impact on the investment returns of domestic venture funds using the most recent data available from the past 10 years. This study categorized the factors influencing venture fund performance into external environmental factors and internal factors. External environmental factors included "economic cycles," "stock markets," "venture markets," and "exit markets," while internal factors included the fund management company's capabilities in terms of "experience," "professional personnel," and "assets under management (AUM)." The fund structure was also categorized into "fund size" and "fund length" for comparative analysis. In summary, the analysis yielded the following results: First, the 3-year government bond yield, which represents economic cycles well, was found to have a significant impact on fund performance. Second, the average 3-month KOSDAQ index return after fund formation had a statistically significant positive effect on fund performance. Third, the number of IPOs, indicating the competition intensity at the time of venture fund liquidation, was shown to have a negative effect on fund performance. Fourth, it was observed that the larger the AUM of the fund management company, the better the fund's returns. Finally, venture fund returns showed variations depending on the year of formation (Vintage). Therefore, when individuals consider investing in venture funds, it is considered a highly effective investment strategy to construct an investment portfolio taking into account not only external environmental factors and internal fund factors but also the vintage year.