• The Transactions of the Korean Institute of Electrical Engineers A
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• v.54 no.2
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• pp.88-96
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• 2005

At present, the Korean electricity industry is undergoing restructuring and the Cost Based-generation Pool(CBP) market is being operated preparing for Two Way Bidding Pool(TWBP) market open. As the circumstance of the traditional system is changed according to power system deregulation, the simulation tool which should reflect market code providing market operating mechanism is needed to analyze an electricity market. This paper presents the development of an unique market simulator, Market Modeling and Price Simulator(MMPS) that is designed to imitate the Korean electricity market considering uniform price. The MMPS is developed in VB.NET and is composed of two modules that consist of market modeling and price simulation interfacing access database program. To evidence the features and the performance of MMPS, a small two way bidding market with 12-bus system and one way bidding market for generator competition will be presented for the electricity market simulations using MMPS.

• Journal of Information Technology Applications and Management
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• v.31 no.4
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• pp.63-74
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• 2024

This study analyzes Korean and Chinese consumer perceptions of Hanbang (traditional Korean herbal) cosmetics, specifically focusing on Sulwhasoo's Jaum two-piece set. Using topic modeling, 7,000 consumer reviews from Naver (Korea) and Baidu (China) were examined to uncover the key themes that influence consumer satisfaction and dissatisfaction. The results reveal significant similarities and differences between the two markets. In both countries, the product is frequently purchased as a gift, and price sensitivity is a major concern. However, Korean consumers prioritize delivery experiences and product functionality, while Chinese consumers focus more on product quality and effectiveness. These findings highlight the need for targeted strategies in each market. For success in Korea, competitive pricing and improved logistics are crucial, whereas in China, maintaining high product quality and capitalizing on the gifting culture are essential. Additionally, global expansion requires educating consumers on the benefits of Hanbang cosmetics, ensuring product consistency, and adapting to regional preferences. This research provides valuable insights for cosmetic companies aiming to enhance their market presence both locally and internationally.

• Journal of Electrical Engineering and Technology
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• v.10 no.4
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• pp.1460-1470
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• 2015

This paper presents an approach to solve the long-term generation expansion planning problem of the restructured electricity industry using an agent-based environment. The proposed model simulates the generation investment decisions taken by a particular agent (i.e. a generating company) in a market environment taking into account its competitors’ strategic investment. The investment decision of a particular company is modeled taking into account that such company has imperfect foresight on the future system development hence electricity prices. The delay in the construction of new plants is also explicitly modeled, in order to compute accurately the yearly revenues of each agent. On top of a conventional energy market, several capacity incentive mechanisms including capacity payment and capacity market are simulated, so as to assess their impact on the investment promotion for generation expansion. Results provide insight on the investment cycles as well as dynamic system behavior of long-term generation expansion planning in a competitive electricity industry.

• Korean System Dynamics Review
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• v.7 no.1
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• pp.27-49
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• 2006

A system dynamics model is developed to investigate the applicability of the agent based modeling concept in the system dynamics model. The assumed problem is to forecast the size and structure of the organization with the developing market environment. The agent based modeling concept is applied to the organization part, and the other parts of the model such as market, facilities, etc. are developed with the traditional system dynamics technique. The simulation results show the agent based modeling part can be combined with the traditional system dynamics modeling with more precisions. However, the complexity increases and the simulation times are longer than those of the traditional method.

• Proceedings of the Safety Management and Science Conference
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• 2005.05a
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• pp.147-151
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• 2005

Many enterprise find process modeling to be an effective approach in competitive global market. In this paper, we investigate the comparision of characteristics for process modeling methodologies. The purpose of this paper is to propose information to company for successful process modeling.

• Health Policy and Management
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• v.16 no.4
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• pp.1-23
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• 2006

There is general consensus in the research literature that market orientation is related to organizational performance. The study examines this relationship in the Korean hospital industry. One feature of this study is to examine the differences between large and small hospitals in terms of their market orientation, performance and the relationship between these constructs. The other feature is that both market orientation and performance are conceptualized as being multi-dimensional constructs. Hence a structural equations modeling (SEM) technique is used to examine the dimensionality of market orientation and performance and to examine the nature of this relationship. Data for this study are collected using a questionnaire that is mailed to the top marketing-related managers of 1,048 hospitals. Usable responses are obtained from 230 hospitals for a response rate of 21.9%. The SEM results confirm the multi-dimensional nature of both market orientation and performance, and the strong relationships between the constructs. Interestingly, this relationship is found to be much stronger for smaller hospitals than for larger hospitals. For smaller hospitals, this study shows that market orientation has a tremendous influence on performance, with almost 73.9% of the variance in performance being attributed to market orientation.

• Proceedings of the Korean System Dynamics Society
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• 2006.04a
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• pp.19-40
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• 2006

A system dynamics model is developed to investigate the applicability of the agent based modeling concept in the system dynamics model. The assumed problem is to forecast the size and structure of the organization with the developing market environment. The agent based modeling concept is applied to the organization part, and the other parts of the model such as market, facilities, etc. are developed with the traditional system dynamics technique. The simulation results show the agent based modeling part can be combined with the traditional system dynamics modeling with more precisions. However, the complexity increases and the simulation times are longer than those of the traditional method.

• Proceedings of the KIEE Conference
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• 2007.07a
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• pp.127-129
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• 2007

Since the competitive market environment was introduced into the electric power industry, the structure of the industry has been changing from vertically integrated system to functionally unbundled and decentralized system composed of multiple (decision-making) market participants. So the market participants such as Gencos or LSE (load serving entity) need to forecast the market clearing price and thus build their offer or bidding strategies. Not just these market players but also a market operator is required to perform market analysis and ensure simulation capability to manage and monitor the competitive electricity market. For fulfilling the demand for market simulation, many global venders like GE, Henwood, Drayton Analytics, CRA, etc. have developed and provided electricity market simulators. Most of these simulators are based on the optimization formulation which has been used mainly for the least cost resource planning in the centralized power system planning and operation. From this standpoint, it seems somehow inevitable to face many challenges on modeling competitive market based on the method of traditional market simulators. In this paper, we propose a kind of new method, which is MAS based market simulation. The agent based model has already been introduced in EMCAS, one of commercial market simulators, but there may be various ways of modeling agent. This paper, in particular, seeks to introduce an model for MAS based market simulator.

• Journal of Korean Society of Coastal and Ocean Engineers
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• v.23 no.1
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• pp.57-62
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• 2011

At this point that port industry brings a new change as the concept of 'Green Logistics' appears, studies on an economic analysis of existing port Re-modeling have normally been conducted focused on market value factors such as Benefit-Cost analysis, On the other hand, there have been few studies on the analysis of Non-market value factors such as environmental value. Therefore, the purpose of this study is aimed to establish a Feasibility analysis model of Incheon inner port Re-modeling in the aspect of Non-market Benefit Factors classified by related factors such as, marine environment, waterfront facility and welfare of users by using AHP methodology based on the extracted result through previous studies.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.43 no.6
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• pp.811-819
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• 2023

Understanding the local conditions is a crucial factor in enhancing the success potential of overseas construction projects. This can be achieved through the analysis of news articles of the target market using topic modeling techniques. In this study, the authors aimed to analyze news articles using two topic modeling methods, namely Latent Dirichlet Allocation (LDA) and BERTopic, in order to determine the optimal approach for market condition analysis. To evaluate the alignment between the generated topics and the actual themes of the news documents, the research collected 6,273 BBC news articles, created ground truth data for individual news article topics, and finally compared this ground truth with the results of the topic modeling. The F1 score for LDA was 0.011, while BERTopic achieved a score of 0.244. These results indicate that BERTopic more accurately reflected the actual topics of news articles, making it more effective for understanding the overseas construction market.