• Journal of Preventive Medicine and Public Health
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• v.42 no.1
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• pp.5-11
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• 2009

Objectives : This study was conducted to estimate the socioeconomic cost of injuries in South Korea. Methods : We matched claims data from national health insurance, automobile insurance and industrial accident compensation insurance(IACI), and mortality data obtained from the national statistical office from 2001 to 2003 by patients unique identifier. Socioeconomic cost included both direct cost and indirect cost: the direct cost was injury-related medical expenditure and the indirect cost included loss of productivity due to healthcare utilization and premature death. Results : The socioeconomic cost of injuries in Korea was approximately 1.9% of the GDP from 2001 to 2003. That is, 12.1 trillion KRW(Korean Won) in 2001, 12.3 trillion KRW in 2002, and 13.7 trillion KRW in 2003. In 2003, direct medical costs were 24.6%(3.4 trillion KRW), the costs for loss of productivity by healthcare utilization were 13.0%(1.8 trillion KRW), and the costs for loss of productivity by premature death were 62.4%(8.6 trillion KRW). Conclusions : In this study, the socioeconomic cost of injuries in Korea between 2001 and 2003 was estimated by using not only health insurance claims data, but also automobile insurance, IACI claims and mortality data. We conclude that social efforts are required to reduce the socioeconomic cost of injuries in Korea, which represented approximately 1.9% of the GDP for the time period specified.

• Journal of Industrial Convergence
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• v.20 no.9
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• pp.25-38
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• 2022

The purpose of this paper is to verify the cost behavior of non-listed companies in Mongolia from 2013 to 2018. And we investigate the relationship between cost behavior and earnings management. Earnings management was measured using the Big-Bath and avoiding loss incentives. Big-Bath suspected firms report a very large loss and avoiding loss suspected firms have a bite profit. The results of this study are as follows. First, non-listed firms in Mongolia, operating costs(oc) and selling, general and administrative(sga) costs show the cost stickiness. Second, cost stickiness was different depending on the earnings management. The suspected avoiding loss firms have upward earnings management incentives, operating costs and sga costs all present anti-cost stickiness. The suspected big bath firms strengthen the cost stickiness of operating costs and sga costs. This study is meaningful in that it first analyzed the relationship between earnings management and cost stickiness of non-listed firms in Mongolia using empirical data. It will be meaningful in that it provides relevant information to those interested in research and investment.

• IE interfaces
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• v.16 no.spc
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• pp.39-44
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• 2003

As one of many design variables, the role of dimension tolerances is to restrict the amount of size variation in a manufactured feature while ensuring functionality. In this study, a nonlinear integer model has been modeled to allocate the optimal tolerance to each individual feature at a minimum manufacturing cost. While a normal distribution determines statistically worst tolerances with its symmetrical property in many previous tolerance allocation studies, a asymmetrical distribution is more realistic because its mean is not always coincident with a process center. A nonlinear integer model is modeled to allocate the optimal tolerance to a feature based on a beta distribution at a minimum total cost. The total cost as a function of tolerances is defined by machining cost and quality loss. After the convexity of manufacturing cost is checked by the Hessian matrix, the model is solved by the Complex Method. Finally, a numerical example is presented demonstrating successful model implementation for a nonlinear design case.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.42 no.4
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• pp.145-152
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• 2019

All machines deteriorate in performance over time. The phenomenon that causes such performance degradation is called deterioration. Due to the deterioration, the process mean of the machine shifts, process variance increases due to the expansion of separate interval, and the failure rate of the machine increases. The maintenance model is a matter of determining the timing of preventive maintenance that minimizes the total cost per wear between the relation to the increasing production cost and the decreasing maintenance cost. The essential requirement of this model is that the preventive maintenance cost is less than the failure maintenance cost. In the process mean shift model, determining the resetting timing due to increasing production costs is the same as the maintenance model. In determining the timing of machine adjustments, there are two differences between the models. First, the process mean shift model excludes failure from the model. This model is limited to the period during the operation of the machine. Second, in the maintenance model, the production cost is set as a general function of the operating time. But in the process mean shift model, the production cost is set as a probability functions associated with the product. In the production system, the maintenance cost of the equipment and the production cost due to the non-confirming items and the quality loss cost are always occurring simultaneously. So it is reasonable that the failure and process mean shift should be dealt with at the same time in determining the maintenance time. This study proposes a model that integrates both of them. In order to reflect the actual production system more accurately, this integrated model includes the items of process variance function and the loss function according to wear level.

• Journal of Korean Society of Disaster and Security
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• v.5 no.1
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• pp.1-6
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• 2012

This study analyzed the direct costs of fall accidents, which have the highest accident rate, for domestic construction industry workers. Firstly, the average insurance payment per person due to fall accidents in the construction industry is around 19 million won (18,971,000 won). Given that the average number of workers suffering fall accidents over ten years is 5,863, the total cost of losses from fall accidents is about 1.1 trillion won (111,360,000,000 won). Secondly, a cost-based economic feasibility analysis was done to develop nonstructural preventive measures for fall accidents. Since there was no data expressing the costs and effects of preventive measures in terms of monetary value, the economic feasibility analysis was attempted with a focus on how much the newly introduced preventive measures can reduce the accident loss costs due to fall accidents. Thirdly, if the accident loss size is grasped and the preventive measures for the causes of fall accidents are developed and strictly implemented, the insurance fee that can reduce the accident loss costs can be determined. Further study is needed to estimate the benefit of the accident loss cost reduction seen from the cost-based approach method.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.62 no.8
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• pp.1066-1073
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• 2013

This paper illustrates newly an outage cost impact index function(OCIIF). The assessment of the OCIIF is described using the Web Based Online Real-time Outage Cost Assessment and Information System(WOROCAIS) for power system outage cost assessment in Korea. The proposed OCIIF is not absolute but relative outage cost impact index function in view point of outage time using web based survey method for outage cost assessment. While conventional methodology does not consider short time outage cost assessment, the proposed OCIIF reflects short time outage. SCOF(Sector Customer Outage Function) in stead of the traditional SCDF(Sector Customer Damage Function) is defined and proposed newly in this paper. Based the SCOF, AVLL(Average Value of Loss Load) is newly proposed. The OCIIF is demonstrated by WOROCAIS in case study around 2,000 sample data surveyed by KEPCO in South Korea in recent.

• Proceedings of the KIEE Conference
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• 2006.11a
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• pp.43-45
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• 2006

Because Cost Based Pool(CBP) has any locational signals for electricity price, there are any locational incentives for construction of new power plant high efficient. in case of Korean electricity power market, this incentives are very important to reduce loss and congestion. This Paper represent the effect of MLF(Marginal Loss Factor) as locational price signal in short period. we investigate mathematically loss reduced effect of MLF and prove to reduce transmission loss using 3bus test system.

• Korean Management Science Review
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• v.27 no.1
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• pp.33-43
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• 2010

This paper presents a method for the estimation and analysis of the economic value of weather forecasts for CRM decision-making problems in the leisure industry. Value is calculated in terms of the customer's satisfaction returned from the user's decision under the specific payoff structure, which is itself represented by a customer's satisfaction ratio model. The decision is assessed by a modified cost-loss model to consider the customer's satisfaction instead of the loss or cost. Site-specific probability and deterministic forecasts, each of which is provided in Korea and China, are applied to generate and analyze the optimal decisions. The application results demonstrate that probability forecasts have greater value than deterministic forecasts, provided that the users can locate the optimal decision threshold. This paper also presents the optimal decision strategy for specific customers with a variety of satisfaction patterns.

• Transactions of the Korean Society for Noise and Vibration Engineering
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• v.24 no.8
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• pp.600-605
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• 2014

Two mufflers for a large-size sedan are suggested aiming (1) sporty-sound and (2) quiet-sound as well as both satisfying low back-pressure and low manufacturing cost. Transmission loss prediction considering heat and flow may increase the accuracy and reduce the development cost in muffler design; thus, GT-power prediction considering heat, flow, and acoustics is utilized. By understanding the fundamentals of flow-acoustic theory in small orifice(hole), an effective muffler design concept is proposed. Vehicle tests show the consistence with predictions for sound; also a back-pressure test bench confirms the advantage in pressure drop for both suggested mufflers. Those suggested mufflers also have advantages in manufacturing cost due to simplicity of the design.

• Journal of Korean Institute of Industrial Engineers
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• v.15 no.2
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• pp.57-64
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• 1989

An Economic selection of specification limits is considered for a given target value in a complete inspection plan. Each item is inspected, and if it meets the specification, it is accepted. Items less than the lower specification limit are scrapped or sold at a reduced price, and those greater than the upper specification limit are reworked. Cost factors to be considered are economic loss caused by quality deviations, rework cost and scrapping cost. Methods for finding the optimal specification limits are given for the cases of piecewise linear loss function and quadratic loss function with illustrative examples.