• Fire Science and Engineering
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• v.24 no.1
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• pp.31-39
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• 2010

Although the subject of sprinkler installations in Korean regulations is less strict than in other advanced countries, many building owners and managers tend to install sprinklers only in the types of buildings designated by law or create building designs for which sprinkler installation standards are not applied. This is because priority is given to cutting installation expenses rather than providing building fire safety. In this study, the benefit is estimated for various expenses from installation and maintenance of sprinklers as an investment. As a result of comparing sprinkler system installation expense and the financial benefit by efficiency analysis, the payback period is 1/20 of the building life expectancy and its efficiency is twice the expense. Therefore, installation of sprinklers by regulation has financial efficiency and it is desirable to broadly encourage the installation of sprinklers.

• Ocean and Polar Research
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• v.38 no.3
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• pp.225-234
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• 2016

This project sought to conduct an economic feasibility study regarding the commercial production of bio-hydrogen by the marine hyperthermophilic archaeon, Thermococcus onnurineus NA1 using carbon monoxide-containing industrial off-gas. We carried out the economic evaluation of the bio-hydrogen production process using the raw material of steel mill by-product gas. The process parameter was as follows: $H_2$ production rate was 5.6 L/L/h; the conversion of carbon monoxide was 60.7%. This project established an evaluation criterion for about 10,000 tonne/year. Inflation factors were considered as 3%. The operating costs were recalculated based on prices in 2014. The total investment required for development was covered 30% by capital and 70% by a loan. The operation cost for the 0.5-year test and integration, and the cost for the first three months in the 50% production period were considered as the working capital in the cost estimation. The costs required for the rental of office space, facilities, and other related costs from the construction through to full-scale production periods were considered as continuing expenses. Materials, energy, waste disposal and other charges were considered as the operating cost of the development system. Depreciation, tax, maintenance and repair, insurance, labor, interest rate charges, general and administrative costs, lubrication and miscellaneous expenses were also calculated. The hydrogen price was set at US$ 4.15/kg for the economic evaluation. As a result, the process was considered to be economical with the payback period of 6.3 years, NPV of 18 billion Won and IRR of 26.7%.

• Journal of the Korean Society for Advanced Composite Structures
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• v.4 no.2
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• pp.15-24
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• 2013

This project is mainly related to evaluation of total energy consumption of low energy house, the exterior envelope of which was wholly composed of structural insulated panels(SIP). The U-value of applied SIP was in the range of 0.189 to $0.269W/m^2{\cdot}K$ and the U-value of pair glass from 0.78 to $1.298W/m^2{\cdot}K$ was applied for window dependent to its function respectively. For comparison of total energy performance, the energy simulation for pilot house was performed to compare with the control house having insulation criteria of Korean building regulation in 2009. Based on simulation of dynamic energy performance, the pilot house saved 48.3% of annual energy consumption while the control house in 2009 consumed as 85.7GJ/y. In case of heating, the result showed that the energy saving ratio amounted to 76.7%. For $CO_2$ emission, the pilot house diminished approximately 35.4% from $6,208.4kgCO_2$ to $4,009.2kgCO_2$. In payback period to early investment, it was analyzed the pilot house took 7.8 years, when the low energy house built by other insulation method with same thermal perfusion took 11.5 years. From this result, it is considered that the SIP is more effective, economic to Green Home application.

• Journal of The Korean Society of Agricultural Engineers
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• v.50 no.3
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• pp.43-48
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• 2008

The economics of a passive solar heating system (PSHS) with the pebble bed heat storage was evaluated, and the applications of the PSHS were analyzed, in this study. The results are as follows: The heating load, solar heat gain, and stored heat/year of the PSHS in the solar house model were found to be 10,778MJ, 3,438MJ, and 11,682MJ, respectively. The yearly energy expenses of the PSHS and the alternative heating system (conventional coal heating system, CCHS), which uses coal, were found to be USD 1.60/year and USD 60.90/year, respectively, and the yearly expenses of the PSHS were found to be 38 times less than those of the alternative heating system (CCHS). If it will be supposed that the life cycle of the passive solar heating system, according to the results of the LCC analysis in the two systems, is 40 years, the total expenses for the life cycle of the PSHS and the CCHS will be USD 1,431.50 and USD 2,740.00, respectively. The period for the investment payback of the PSHS is six years.

• Journal of the Korean Solar Energy Society
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• v.31 no.6
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• pp.95-102
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• 2011

The purpose of study is to estimate heating, cooling load performance and economic efficiency in office building with applied the functional paint. this paint can reduced SHGC(Solar Heat Gain Coefficient) on the glazing surface by coating. In this study, estimated to compared with double glazing, low-e glazing, IP(Insulation Paint) and IPu(Insulation UV-Cut Paint) coating glazing. As a result of this study, 1)heating & cooling load Analysis, SHGC value and U-factor of double glazing is about 0.70 and 3.29($W/m^2K$). low-E glazing is about 0.65 and 2.70($W/m^2K$). Two-side it is about 0.27 and 3.25($W/m^2K$). When compared to double glazing, annual heating & cooling load of low-E glazing, Two-side IPu and IP paint coating glazing is 3,012MWh($124kWh/m^2$), 2,910MWh($120kWh/m^2$), 2,867MWh($118.4kWh/m^2$) and 2,867MWh($118.4kWh/m^2$). It i sreduced to 2.0%, 5.2%, 6.7%, and 6.7% respectively. 2)the estimation of economic efficiency, low-e glazing installed in office building can not recover the investment within a lifetime 40years. but IPu and IP paint, two-side coating in glazing, have a payback period of 13 years respectively.

• Applied Chemistry for Engineering
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• v.27 no.2
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• pp.171-178
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• 2016

Extensive efforts from all over the world have been made to solve energy problems, such as high oil prices, global warning due to the depletion of oil. Among them, biofuel has been drawing attention as a clean energy, which can replace fossil fuels. However, conventional biofuels were often converted from eatable biomass such as sugar cane, corn and soy which should be replaced with uneatable biomass. In this study, a techno-economical evaluation of the gasification of biomass waste with mixed alcohol synthesis process was performed. Considering available domestic biomass wastes, a 2000 ton/day conversion plant were assumed to produce 533000 L/day ethanol. Also, financial data from previous studies were evaluated and used and economical sensitivities with various operation conditions were established. Economic analysis were conducted by the payback period and internal rate of return (IRR) and net present value (NPV). Sensitivity analyses of raw material costs, initial investment, the major process cost, ethanol price changes and operating costs were all performed.

• Journal of Distribution Science
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• v.13 no.9
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• pp.71-79
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• 2015

Purpose - The purpose of this paper is to find out the effect of changes in the differentiated "servicescape" on the business performance in the hair salon industry using a case study. For this, we selected hair salon M located in Suwon. The shop is innovatively different from existing shops in terms of spatial layout and functionality. We conducted in-depth research, beginning with the launch of the shop concept through investment and ongoing stable sales. Research design, data, and methodology - The M hair salon is a start up shop providing a differentiated servicescape (physical environment where the service takes place) located in Suwon, Yeongtong-gu. We conducted research to investigate how spatial layout and functionality of the servicescape impact customers' perceived quality. The interview period and case analysis was May 2014 through March 2015, covering 11 months. To conduct the case analysis, we analyzed the spatial layout and functionality of existing shops and interviewed customers and experts about the difference between hair salon M and existing shops. Results - Our results found clues to the positive effect of spatial layout and functionality among servicescape factors on perceived service quality at the salon. The shop showed a fast payback of the principal investment, growth potential in contrast to competitors near the salon, and 45 percent returning customers. The problem with the spatial layout at existing shops was that customers were aware of the way other people were looking at them, since viewing angles overlapped, therefore there was a limitation to the relationship intensity with an exclusive hair designer. In contrast, the layout of the stands at the M salon kept the number of dressing stands limited to maximize the customer's emotional response. Additionally, because of the new layout of dressing stands hiding other customer voices and appearance in the salon, customers perceived their service space as independent. Therefore, they did not have to focus on their personal emotional response, which was one of the advantages of the new layout. Conclusions - This study conducted case study analysis by offering a new perspective focusing on spatial layout, previously not considered as an independent variable of quality evaluations and customer satisfaction in existing literature on hair salon management. Therefore, this study contributes to the field by offering an opportunity to discover the causal relationships between the overlooked physical environment and a customer's perceived quality. However, a process objectifying the results of the study through empirical analysis and hypotheses is needed to overcome the limitations of the case study approach and generalize the results. Moreover, it would be beneficial to conduct further empirical study of the relationship between the spatial layout provided in the case and a customer's emotional response and change in mood. In addition, an analysis is needed regarding how customers feel about the factors using the Kano Model. These suggestions would be considered in further study.

• Korean Chemical Engineering Research
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• v.56 no.4
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• pp.496-523
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• 2018

The objective of this study is to evaluate the economic feasibility of two fast pyrolysis and biooil upgrading (FPBU) plants including feed drying, fast pyrolysis by fluidized-bed, biooil recovery, hydro-processing for biooil upgrading, electricity generation, and wastewater treatment. The two FPBU plants are Case 1 of an FPBU plant with steam methane reforming (SMR) for $H_2$ generation (FPBU-HG, 20% yield), and Case 2 of an FPBU with external $H_2$ supply (FPBUEH, 25% yield). The process flow diagrams (PFDs) for the two plants were constructed, and the mass and energy balances were calculated, using a commercial process simulator (ASPEN Plus). A four-level economic potential approach (4-level EP) was used for techno-economic analysis (TEA) under the assumption of sawdust 100 t//d containing 40% water, 30% equity, capital expenditure equal to the equity, $H_2$ price of $1050/ton, and hydrocarbon yield from dried sawdust equal to 20 and 25 % for Case 1 and 2, respectively. TCI (total capital investment), TPC (total production cost), ASR (annual sales revenue), and MFSP (minimum fuel selling price) of Case 1 were $22.2 million, $3.98 million/yr, $4.64 million/yr, and $1.56/l, respectively. Those of Case 2 were $16.1 million, $5.20 million/yr, $5.55 million/yr, and $1.18/l, respectively. Both ROI (return on investment) and PBP (payback period) of Case 1(FPBU-HG) and Case 2(FPBU-EH) were the almost same. If the plant capacity increases into 1,500 t/d for Case 1 and Case 2, ROI would be improved into 15%/yr.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.16 no.2
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• pp.81-89
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• 2002

The Battery Energy Storage System (BESS) has lots of advantages such as load leveling, quick response emergency power (spinning reserve), frequency and voltage control, improvement of reliability, and deferred generation and transmission construction. However, it is very critical that economic feasibility requires justification from the customer side of meter to promoting the dissemination of BESS in nation widely. In this paper, we proposed the economic assessment model of customer owned BESS which is complemented and improved the existing model. The proposed model is applied to the typical customer types, i.e. light industrial, commercial, and residential, which are taken from the statistical analysis on the load profile survey of Korea Electric Power COmpany (KEPCO). The economic viability performed for each customer load type to justifying their economic feasibility of BESS installation from the economic measures such as payback period, Net Present Worth (NPW), Rate Of Return (ROR). The results show that the BESS has economic benefits to the specific customer type, i.e. residential customer. Therefore, the government and the energy agency should be committing the support program, such as tax incentive, financial support, to disseminate the BESS nation widely. The results of this paper are useful to the customer investment decision-making and the national energy policy & strategy in Korea.

• Resources Recycling
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• v.9 no.1
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• pp.36-43
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• 2000

This study was carried out for treatment and reuse of inorganic sludge from Fenton process at B dyeing wastewater treatment plant. The parameters for pilot-scale treatment system were derived from the results of this study. It was found that $COD_{cl}$ of the treated effluent became lower than 100 mg/l approximately on the optimal reaction condition. 2nd sludge which was generated after redissolving sludge was analyzed, and it showed that reduction ratio of ash in 2nd sludge and total dry sludge weight in comparison with current sludge were 85% and 65%. Also Fe salt in sludge was redissolved about 90~95% of initial Fe by weight. It was estimated almost ￦350,000,000 for sludge reuse process. It was estimated saving of about ￦1,300,000 per day (￦420,000,000 per year) in operating cost based on 30,000 $m^3$/d treatment, which these were about ￦430,000 per day in chemical, ￦1,100,000 per day in sludge transportation and ￦200,000 per day in equipment maintenance. Payback period with interest charge for investment cost was estimated about 10.5 months. Also, net present value (NPV) was ￦792,000,000 and internal rat of return (IRR) was about 110%.