• Journal of Biosystems Engineering
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• v.40 no.3
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• pp.178-185
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• 2015

Purpose: This research suggests a method of establishing criteria for working area and operating cost for a long-term lease of agricultural machinery. Methods: Eight crops were selected-three food crops and five open-field vegetables-and agricultural machines used for sowing, transplanting, and cultivation in dry-field farming were analyzed. Results: The break-even acreage for agricultural machinery under a long-term lease was found to differ by agricultural machine, ranging from 1.0 to 5.8 ha. In terms of arable land area, the break-even acreages for harvesting machinery and transplanters were 15.6 to 26.1 ha and 6.1 to 8.6 ha, respectively. The working area lessees should secure was divided into two cases: (1) 2.0 to 11.6 ha when leasing individual agricultural machines (sowing and transplanting) for a long-term period, and (2) more than 10 ha when farmers who cultivate beans, potatoes, garlic, onions, and so on lease sowing and transplanting machines as a set. When agricultural machinery was leased for a long term, the operating cost and working time were reduced by 27.6 to 74.4% and 2.5 to 21.6%, respectively, indicating considerable effect. Conclusions: A long-term lease project needs to be promoted to overcome the limitation of short-term leases of agricultural machinery. The local government should lead this project and facilitate the mechanization of dry-field farming. The department in charge of agricultural machinery lease projects needs to set the working area to cover the rate and maintenance cost for farmers who lease agricultural machinery for the long term.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.41 no.2
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• pp.24-31
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• 2018

As a system complexity increases and technology innovation progresses rapidly, leasing the equipment is considered as an important issue in many engineering areas. In practice, many engineering fields lease the equipment because it is an economical way to lease the equipment rather than to own the equipment. In addition, as the maintenance actions for the equipment are costly and need a specialist, the lessor is responsible for the maintenance actions in most leased contract. Hence, the lessor should establish the optimal maintenance strategy to minimize the maintenance cost. This paper proposes two periodic preventive maintenance policies for the leased equipment. The preventive maintenance action of policy 1 is performed with a periodic interval, in which their intervals are the same until the end of lease period. The other policy is to determine the periodic preventive maintenance interval minimizing total maintenance cost during the lease period. In addition, this paper presents two decision-making models to determine the preventive maintenance strategy for leased equipment based on the lessor's preference between the maintenance cost and the reliability at the end of lease period. The structural properties of the proposed decision-making model are investigated and algorithms to search the optimal maintenance policy that are satisfied by the lessor are provided. A numerical example is provided to illustrate the proposed model. The results show that a maintenance policy minimizing the maintenance cost is selected as a reasonable decision as the lease term becomes shorter. Moreover, the frequent preventive maintenance actions are performed when the minimal repair cost is higher than the preventive maintenance cost, resulting in higher maintenance cost.

• Journal of Korean Port Research
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• v.14 no.2
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• pp.165-173
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• 2000

Major factors that are considered to determine lease charges of container terminals are, among others, construction cost of berth, discount rate, financing cost, and size of annual equivalent recovery. This paper aims to calculate construction costs at PECT and GCT and their annual equivalent recovery on the basis of historical data, and to identify whether or not the relationship of the above result and current lease charges at the two terminals are justifiable.

• Korean Journal of Organic Agriculture
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• v.17 no.4
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• pp.441-461
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• 2009

Switching to organic farming practices in agricultural production reaches the end of the period it takes an average of five years. During this period, agricultural soil management to improve the investment must be sustained. Results of the survey of environment-friendly agricultural lease rates appear to approximately 54.2% lower than agricultural practices. Environmentally friendly agricultural land is leased on a long transition period of the contract cost, many buried incompleteness, uncertainty of contract fulfillment(opportunistic behavior) occurs when the transaction costs. This ultimately can hinder the spread of organic farming. Thus, the qualitative development of organic farming and land leasing in order to minimize transaction costs, should that occur. The alternative 'cooperative long-term lease contract' is a system.

• The Journal of the Korea Contents Association
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• v.15 no.5
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• pp.488-497
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• 2015

The recent increase of chonsei has raised the degree of lease burden of households, and a new residential lease price index needs to be introduced to measure such degree of lease burden. In order to convert the burden into an index, the calculation method of the K-HAI, which is announced by the Korea Housing Financing Corporation, is applied by replacing house purchase with lease. From the calculation, the residential lease prices index of the first quarter of 2014 is estimated to be approximately 114, indicating that the cost of lease exceeds 35% of income. The result of analysis on the trend of the residential lease prices index from the first quarter of 2012 to the present in Seoul indicates that the residential lease prices index in Seoul has continued to increase, compared to that of the entire country. The results of this study will be a foundation to find a solution for the stabilization of chonsei and investigate the degree of lease burden by region when establishing a sustainable housing policy.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 1999.10a
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• pp.11-18
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• 1999

Major factors that are considered to determine lease charges of container terminals are, among others, construction cost of berth, discount rate, financing cost, and size of annual equivalent recovery. This paper aims to calculate construction costs at PECT and GCT and their annual equivalent recovery on the basis of historical data, and to identify whether or not relationship of the above result and current lease charges at the two terminals are justifiable.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.29 no.5D
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• pp.627-634
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• 2009

The BTL (Build-Transfer-Lease) contract of construction project serves as a part for early establishment of industrial foundation for social overhead capital. However, project cost of BTL contract is focused on initial construction cost. Accordingly, operation cost is lowly evaluated because there is no standard criterion for estimating maintenance cost for the facility. The low operation cost can be a factor that reduces service quality of facility operation. This study suggests a resonable method for estimating cost and manpower in the operation phase by using the existing practical data for wastewater treatment plant by BTL contract. The results of the study can be used for evaluating rough operation cost and manpower of similar plant project by facility size.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.33 no.1
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• pp.71-79
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• 2010

This paper addresses capacity expansion planning model of distribution center under usability of public distribution center. For discrete and finite time periods, demands for distribution center increase dynamically. The capacity expansion planning is to determine the capacity expansion size of private distribution center and usage size of public distribution center for each period through the time periods. The capacity expansion of private distribution center or lease usage of public distribution center must be done to satisfy demand increase for distribution center. The costs are capacity expansion cost and excess capacity holding cost of private distribution center, lease usage cost of public distribution center. Capacity expansion planning of minimizing the total costs is mathematically modelled. The properties of optimal solution are characterized and a dynamic programming algorithm is developed. A numerical example is shown to explain the problem.

• ETRI Journal
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• v.15 no.3
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• pp.47-59
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• 1994

A capacity expansion planning problem with buy-or-lease decisions is considered. Demands for capacity are deterministic and are given period-dependently at each period. Capacity additions occur by buying or leasing a capacity, and leased capacity at any period is reconverted to original source after a fixed length of periods, say, lease period. All cost functions (buying, leasing and idle costs) are assumed to be concave. And shortages of capacity and disposals are not considered. The properties of an optimal solution are characterized. This is then used in a tree search algorithm for the optimal solution and other two algorithms for a near-optimal solution are added. And these algorithms are illustrated with numerical examples.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.917-920
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• 2007

Private companies will get back their investment by leasing facilities to the government, Since act on private participation in infrastructure were changed in January 2005, BTL(Build Transfer Lease) project of introduced in the domestic construction market for the purpose of providing public facilities with the public. BTL projects is for with approximately project life cycle form plan to maintenance the success of the project totally depends on the capability and role of concessionaire. Accordingly, this study is aimed to improve in order to proceed with BTL project efficiently, a clear standard for the item of evaluation was presented.