• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.20 no.5
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• pp.78-84
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• 2006

As electric power systems have been moving from a vertically integrated structure to a deregulated environment, calculating reactive power service charges is a new challenging theme for market operators. This paper examines various methods for reactive power management adopted in some deregulated foreign and domestic markets and then proposes a new method to calculate reactive power service charges using a reactive power market. The reactive power market is operated based on bids from the generating sources and is settled on uniform prices by running reactive OPF programs after the day-ahead electricity market. The proposed method takes into account recovering not only the costs of installed capacity but also the lost opportunity costs incurred by reducing active power output to increase reactive power production. A numerical sample study is carried out to illustrate the processes and appropriateness of the proposed method.

• KIISE Transactions on Computing Practices
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• v.21 no.11
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• pp.739-744
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• 2015

In this paper, we examine the project-based educational practice that is co-developing a solution to the local food inventory management system. This project is aimed at the practical business of IT distribution in small and medium industries, and is linked with the project course on undergraduate students of IT division. For the practical project of the IT distribution in small and medium industries, an employee in charge of the project participates as a mentor such that he presents the project subject and the students develop the system for the subject. This system emerges from existing theory and the necessity for a term project, and this course leads students to learn practical knowledge through discussion with the employee in charge. Through this course, the latest technology is shared mutually, and students have the opportunity to understand a domain of the IT distribution business. As students experience how to understand and solve cost, quality and delivery time for the project by themselves, they build confidence. Also, the company can save on costs for the development of prototypes, while creating an opportunity for students to experience working with seasoned staff.

• The Journal of Fisheries Business Administration
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• v.23 no.2
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• pp.101-128
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• 1992

How to distribute fisheries catches from producer to consumer is very important for everybody joined fisheries marketing channels (FMC), because most people are influenced their revenue and expenditure through marketing channels. Many institutions in Korea after 1960's have tried to develop the rationalization of FMC, but they have not gotten the satisfactory results in general in spite of a lot fruits. Comparing with general manufacturing industry, the fisheries industry has some specializations in the marketing channels. It makes them unique structure included wholesale market system similiar to fresh (perishable) food market with expertised technology. Wholesale market collects, distributes the fisheries catches and evaluates in by auction or bidding without consideration of producer's opinion. It is very necessary institution to make a decision to equatible price for fresh food and to play an important role for marketing effectiveness with minimum total transation and with massed reserve among institutions. But it has two weak points to increase the marketing cost and to make products bad fresh (perishable). Therefore, both Producer and consumer want to find the direct channels not to pass through wholesale market and to get more profit. I wanted to explain what problems of traditional FMC are and why the direct channel is necessary as follows in this paper. Chapter II : The types and specialization of FMC Chapter III : The structure and problem of fisheries wholesale market channel Chapter IV Marketing cost of FMC and direct channel I suggested when the direct channel in FMC is designed, new planner must carry out marketing functions which are performanced by wholesaler, middle man and the joined members of auction at wholesale market. In view of consumption area, these functions are : (1) the finding of production partner to make a business ; (2) communication of information ; (3) collecting ; (4) distribution ; (5) selecting and grading ; (6) evaluating ; (7) financing and payment ; (8) organization, in view of consumption area. The government must support also the group or individual of new direct channels to succeed it with (1) furnishing of market information (2) supplying of land and facility (3) financing (4) feed-back of dierct channels totally (5) making an opportunity of communication between producer and consumer. I want to emphasize again wholesale market is necessary and important institution for equatible price of fresh food in spite of the its weak points. At the same time. the direct channels are necessary to reduce the marketing cost and to keep better fresh food.

• Korea Journal of Hospital Management
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• v.18 no.1
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• pp.59-69
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• 2013

Purpose Patients should have a regular medical check-up, the cost direct and indirect medical expenses to check the results, and revisit the hospital. Some of patients often want to use the telephone for a medical consultation, Method The subjects participating in this study were a selection 485 patients who received outpatient service in Asan Medical Center and Gangbuk Samsung Hospital. The patients's favorite method for medical check-up, time, cost, fatigue, and inconvenience, in regard with the revisit to check the examination results, were researched and analyzed on identical questionnaires about them. Results The average transportation, food expenses and opportunity costs the subjects spent was 90,400 for those from the Seoul and Gyunggi area, and 269,800 from other area. And the average required time per visit was 4.13 hours for those from the Seoul and Gyunggi area, 11.84 hours from other areas, and averagely 7.72 hours for all the subjects. More than 75% of the subjects answered that they felt tired and their work was interrupted. The subjects from both areas preferred the check by phone. Conclusion If the scope of telephone medical consultation is defined and the doctor-patient certification is possible, it can be thought as an efficient alternative of the medical check-up by revisit. It is necessary to discuss an appropriate amount of the medical check-up by phone which the same cost and effort can be allocated in.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.349-360
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• 2020

The study aims to empirically examine the determinants of bank margins from Pakistan, an emerging South Asian economy. To elucidate the importance of the Pakistani banking sector, secondary data has been used, which was extracted from the annual accounts of twenty-four Pakistani scheduled commercial banks (20 conventional, four full-fledged Islamic) over a sample period of 2006 to 2017. The factors identified in the dealership model and the subsequent empirical developments in the dealership model categorized as bank-specific, diversification, regulatory, and industry concentration are analyzed by applying the most-common linear dynamic panel-data estimator, the Generalized Method of Moments (GMM) estimator, developed by Arellano and Bond (1991). The findings reveal that, among the bank-specific variables, funding cost, credit risk, managerial efficiency, market share, and operating cost are significant predictors of bank margins. For diversification variables employed in the study, both variables including net non-interest income and asset diversity are as well significant predictors of bank margins. It is also found that the market concentration variable proxied by the Herfindahl-Hirschman Index (HHI) is significantly predicting bank margins. Subsequently, one of the regulatory variables, the opportunity cost of holding reserves, and one bank-specific variable, the degree of risk aversion, are insignificant in the model.

• Korean Journal of Agricultural Science
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• v.29 no.1
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• pp.55-65
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• 2002

The most representative fruit in Yanbian area is Applepear(Ping Guo Li). It has been a important resource of farm income. According to the economic growth and income Increase of individual consumers, food consumption pattern will be changed from grain to high value cash crops such as Applepear and vegetables. The globalization and adapt ion of free market oriented economic policy of China government have led to change the collective farming system to individual farm management system. The institutional transformation have brought about high productivity of farm products and incomes of farmers. Therefore the plantation area of Applepear and requirement of investment cost for establishment of Applepear farms have increased rapidly since the 1980's, the time of perestroika and glasnost in Chinese economy. In prosperity of Chinese agriculture, individual farmer's decision making as free selection of farmland use, selection of high pay-off crops, free sale of the products in free market and credit support for the project might be the most important factors. In case of Applepear farm development, net present value of the project net benefit was estimated at 55.518won per hectare and financial rate of return was 21%. The benefit/cost ratio of the project was 2.11. Considering 10% of discounting rate or the opportunity cost of capital in China the Applepear farm development project showed us economically feasible in the light of the above efficiency indices. The Chinese government has to support Applepear farm development project financially and institutionally considering the high-payoff benefit of the fruit and farmer's in come increase in the future.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.38 no.4
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• pp.80-87
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• 2015

The proliferation of the Internet and communication technologies and applications, besides the conventional retailers, has led to a new form of distribution channel, namely home sopping through the telephone, TV, catalog or the Internet. The conventional and new distribution channels have different transaction costs perceived by the consumers in the following perspectives: the accessibility to the product information, the traffic cost and the opportunity cost for the time to visit the store, the possibility of 'touch and feel' to test the quality of the product, the delivery time and the concern for the security for the personal information. Difference in the transaction costs between the distribution channels results in the different selling prices even for the same product. Moreover, distribution channels with different selling prices necessarily result in different business surpluses. In this paper, we study the multilateral bargaining strategy of a manufacturer who sells a product through multiple distribution channels with different transaction costs. We first derive the Nash equilibrium solutions for both simultaneous and sequential bargaining games. The numerical analyses for the Nash equilibrium solutions show that the optimal bargaining strategy of the manufacturer heavily depends not only on the degree of competition between the distribution channels but on the difference of the business surpluses of the distribution channels. First, it is shown that there can be four types of locally optimal bargaining strategies if we assume the market powers of the manufacturer over the distribution channels can be different. It is also shown that, among the four local optimal bargaining strategies, simultaneous bargaining with the distribution channels is the most preferred bargaining strategy for the manufacturer.

• Journal of the Korea Institute of Building Construction
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• v.21 no.2
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• pp.149-156
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• 2021

This study empirically verified whether aggressive order intake affect occurrence of defects of Korean construction companies. In order to compensate for the shortage of construction costs due to aggressive low-cost orders of contractors, self-response measures such as design changes are followed, and construction defects may be induced in this process. It aims to verify relevance between aggressive order intake and defect in construction empirically using financial accounting data. As a result, it was confirmed that an abnormal increase in order volume and a deterioration in profitability such as operating margin due to aggressive order taking behavior leads to a decrease in construction quality and occurrence of defects. In addition, it was also confirmed that low construction ability and intentional changes in construction design or contract conditions after construction commences were a direct causes of defects. The results of this study can serve as an opportunity to come up with measures to prevent defects by confirming the relationship between defects in construction and deterioration of profitability due to aggressive low-cost order takings.

• Geomechanics and Engineering
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• v.18 no.5
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• pp.535-543
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• 2019

Building on/with expansive soils with no treatment brings complications. Compacted expansive soils specifically fall short in satisfying the minimum requirements for transport embankment infrastructures, requiring the adoption of hauled virgin mineral aggregates or a sustainable alternative. Use of hauled aggregates comes at a high carbon and economical cost. On average, every 9m high embankment built with quarried/hauled soils cost $12600MJ.m^{-2}$ Embodied Energy (EE). A prospect of using mixed cutting-arising expansive soils with industrial/domestic wastes can reduce the carbon cost and ease the pressure on landfills. The widespread use of recycled materials has been extensively limited due to concerns over their long-term performance, generally low shear strength and stiffness. In this contribution, hydromechanical properties of a waste tyre sand-sized rubber (a mixture of polybutadiene, polyisoprene, elastomers, and styrene-butadiene) and expansive silt is studied, allowing the short- and long-term behaviour of optimum compacted composites to be better established. The inclusion of tyre shred substantially decreased the swelling potential/pressure and modestly lowered the compression index. Silt-Tyre powder replacement lowered the bulk density, allowing construction of lighter reinforced earth structures. The shear strength and stiffness decreased on addition of tyre powder, yet the contribution of matric suction to the shear strength remained constant for tyre shred contents up to 20%. Reinforced soils adopted a ductile post-peak plastic behaviour with enhanced failure strain, offering the opportunity to build more flexible subgrades as recommended for expansive soils. Residual water content and tyre shred content are directly correlated; tyre-reinforced silt showed a greater capacity of water storage (than natural silts) and hence a sustainable solution to waterlogging and surficial flooding particularly in urban settings. Crushed fine tyre shred mixed with expansive silts/sands at 15 to 20 wt% appear to offer the maximum reduction in swelling-shrinking properties at minimum cracking, strength loss and enhanced compressibility expenses.

• Journal of Technology Innovation
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• v.26 no.4
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• pp.1-28
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• 2018

With the growing number of emerging carmakers, automotive parts manufacturers have to penetrate into emerging markets. They can provide large existing carmakers with fully customized parts because of economies scale, but cannot do this for small emerging carmakers due to their small and highly volatile volume order. Once the order by an emerging carmaker is placed, a part manufacturer is exposed to high risks both of decrease in profit margin and high opportunity cost. The platform-based mass customization can be a solution for cost reduction, but the risks of volatility in volume hard to manage. Tackling this issue, we presents a method of optimizing the product portfolio to maximize profits while managing volatility of volume order by emerging carmakers at an affordable level. It is the first robust product portfolio method to keep the scaled deviation of profits at a fixed level under volume order uncertainty. Also, the effect of on the platform-based mass customization on cost is considered. This model can be a building block of conservative market penetration as well as product development strategy while minimizing the financial risks. We conducted an empirical study of a part manufacturer targeting on eighteen automobile manufacturers in North America, Europe and Asia with it powered lift gate.