• Journal of the Korean Society for Precision Engineering
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• v.16 no.10
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• pp.59-67
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• 1999

The lead time for new products is very limited in the current manufacturing processes, therefore the Rapid Prototyping process has been introduced and generally used in the industry. Fused Deposition Manufacturing (FDM) is one of the most common methods in this field. In the FDM process, the patterns are made of Wax of ABS and ABS shows better quality of the patterns. To date, the FDM/ABS patterns are used in investment casting for making silicon moulds to produce was patterns because it is very difficult to dewax FDM/ABS directly. The aim of this paper was to propose a feasibility of using FDM/ABS parts as wax-pattern substitutes in the investment casting process. The effects of casting conditions, such as pre-heat temperature and casting temperature, are provided. Comparisons with the conventional investment casting processes using the wax-patterns under the same prototype are made. Lead-time and saving cost are discussed in using FDM/ABS parts as was-pattern substitutes compared with the products from other rapid prototype systems.

• Journal of Digital Convergence
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• v.13 no.12
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• pp.89-97
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• 2015

Plant factory was started in Europe in the 1960. Thanks to the development of seeds science, nutrient study, environment control technology and automated systems, it has developed into the form of full artificial light system. In recent years, productivity of plant factory has increased with the convergence of ICT. An interest in plant factory has increased with several outstanding achievements. However, the plant factory industry is still stuck at an introductory stage and government investment has been reduced. In order to verify the feasibility of the plant factory, we conducted a survey targeting experts in politics, R&D and business field. We analyze the feasibility of investment in plant factory and strategies to enhance the competitiveness of plant factory.

• Journal of Korea Society of Digital Industry and Information Management
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• v.4 no.4
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• pp.103-111
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• 2008

While the demand for ASP(Application Service Provider) focused on small and medium enterprises who are fully aware of needs of ICT readiness has been increasing, those who consider to adopt ASP are wondering whether their performance would be actually successful if they did. These concerns can be an important standard of judgement, when introducing new information systems, by analyzing ROI(Return on Investment) on the current enterprises. Therefore, to review the feasibility of investing IT and measuring the performance, this study suggests a framework for ROI analysis which estimates IT investment performance, through multi-criteria approach on both financial performance index and non-financial one. We applied methodology on ASP-based IT investment performance evaluation to sample manufacturing companies under 50 employees and deduced the main implications to be considered when introducing the system.

• Journal of Korea Port Economic Association
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• v.22 no.1
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• pp.17-38
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• 2006

This paper suggests the development device of Busan-Jinhae free Economic Zone(BJFEZ) to strengthen the competitiveness of the Port of Busan and promote the regional development in Busan. It deals with the securable feasibility of necessary sites and development costs and financial resources, the foreign investments figure, and the structure of the BJFEZ Authority. In addition, to evaluate the background, process, and contents of 'Special Purpose Local Government', the paper looks into the amendment proposal of 'Act on designation and management of free economic zones' suggested by the central government from the regional view of point. As proposals to promote and activate BJFEZ, it is recommended in the paper that it is required, first, to draw the detailed political methods to guarantee sound and sustainable development project and investment environment in accordance with regional characteristics prior to marketing, second, to develop and implement differentiated policy means to facilitate foreign investment, third, to strengthen specialty of the BJFEZ authority, and finally, to set up the supporting role and cooperation of both the central and local governments.

• Journal of the Korean Society for Railway
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• v.12 no.3
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• pp.420-426
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• 2009

Although the amount of travel demand is a critical factor in a benefit-cost (B/C) analysis of railway investment, the travel demand changes especially for induced demand have not been considered. Therefore, the basic study of how to estimate travel demand changes after railway investment is worth investigating. This study reviews the methodologies for estimating diverted and induced demand generated after railway investment, and proposes appropriate approaches that will help railway planners to practically apply them in a case study. Further, the research stimulates the needs of consideration of the travel demand changes in the feasibility studies of railway planning.

• Korean Journal of Agricultural Science
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• v.40 no.2
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• pp.169-176
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• 2013

The price and revenue of rice are expected to decrease due to increasing rice imports, decreasing consumption and the discontinuance of the government's rice procurement. This degenerating profitability is leading to a rise in the cultivation of upland-crops such as beans, fodder crops and fruits in paddy fields. However, there is a lack of research on the selection of rice substitute crops which are adaptable to the relevant region through profitability analysis. This research, therefore, analyzed investment profitability of rice substitute crops for Cheorwon-gun area in Kangwon province. The study applied net present value (NPV) and internal rate of return (IRR), which fit for mutually exclusive investments that make one selection to the exclusion of other crops. Target crops are green house plants in Cheorwon-gun area. Financial analysis showed paprika and cucumber have investment feasibility for automated vinyl greenhouses and conventional plastic greenhouses respectively.

• Journal of the Korean Society of Industry Convergence
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• v.26 no.4_2
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• pp.553-559
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• 2023

In the case of a government's digital platform, that is exploring public software for the first time through private investment, it's important to conduct a feasibility analysis and select appropriate methods before promoting digital projects. Looking ahead, it's crucial to provide direction for the private-invested public software market to enter the global software market.

• Journal of Navigation and Port Research
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• v.33 no.7
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• pp.469-476
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• 2009

Recent collapse of shipping market right after unprecedent surge clearly demonstrates that shipping industry is extremely risky. Due to the volatile movements of the freight rates, investors tend to ask higher rate of return; higher required return reduces the total net present value of the investment project. For several decades, the Discounted Cash Flow(DCF hereafter) analysis has been the most frequently used valuation technique. However, the main problem of the DCF analysis is its assumption that the discount rate would stay the same during the project life. In other words, it usually does not address the decisions that managers have after a project has been accepted. The purpose of this study is investigate a new valuation method of investment: the Real Option Analysis(ROA hereafter) on ship investment. By replacing the existing valuation methods with the new one, the research will present a new perspective on investment with uncertainty. While uncertainty increases risk of investment and consequently discounts the value of it in the traditional feasibility analysis, in the ROA, a new valuation method which will be addressed in the research, uncertainty means some additional value of flexibility so that the tool can help investors produce more accurate decisions. Contrary to the DCF analysis, the ROA takes managerial flexibilities into account. In reality, capital budgeting and project management is typically dynamic, rather than static in nature. The ROA finds and assesses the values of managerial flexibilities or real options in the investments. The main structures of the research will be as follows: (1) overview of the ship investment project, (2) evaluation of the project by the Net Present Value analysis, (3) evaluation of the same project by the Real Option Analysis, (4) comparision of the two techniques.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.45 no.1
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• pp.83-90
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• 2022

This study deals with replacement analysis of deteriorated equipment for improving productivity of production system. Frequent breakdown of the deteriorated equipment causes a situation that reduces productivity such as low product quality, process delay, and repair cost. However, the replacement of new equipment will be required a high initial investment cost, so it is important to analysis the economic feasibility. Therefore, we analyze the effect of the production system due to the aging effect of the equipment and the feasibility of equipment replacement based on the economic analysis. The process flow, working time, logistics movement, etc. are analyzed in order to build the simulation modeling for a ship and land switchboard production system. Using numerical examples, the economic feasibility analysis of equipment replacement through replacement of existing deteriorated equipment and additional arrangement of new facilities is performed.

• Journal of Korean Institute of Industrial Engineers
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• v.23 no.1
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• pp.115-127
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• 1997

A GDHS(Geothermal District Heating System) is a heating system supplying a group of districts with heat extracted from geothermal sources. The advantages of GDHS include saving fuel consumption as well as reducing air pollution. This paper presents a case study for the economic feasibility model and analysis of a GDHS with which central/individual heating systems are replaced. Configuring to a simplified GDHS which consisits of subsurface systems, surface systems, and transmission/distribution systems, we find out the properties of the system and the model parameters affecting the initial investment/operating costs in order to develop a classical economic feasibility model given geothermal temperature. Based on our model parameter space, we analyzed the geothermal development project of the Jejoo Island probabilistically given prior information such as the expected geothermal power, the demand size and the length of transmission/distribution pipes.