• Title/Summary/Keyword: Production Investment

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A Study on the Investment Cost Procurement and Economic Effective of Port Industry for Strength of the National Competitive Power (국가경쟁력 강화를 위한 항만산업 경제적 효과 및 투자재원 조달 방안 연구)

  • Lee, Je-Hong;Choi, Heung-Seob
    • Journal of Korea Port Economic Association
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    • v.24 no.2
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    • pp.317-334
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    • 2008
  • Port industry has achieved a remarkable growth with a help from increase in container shipment and above all, transshipment that reflects international competitive power of Port industry amounts to 36% of the national harbor shipment. Therefore, this study speculates the impact of Port industry on national economy using the inter-industry relation table. As it considers the reason why international competitive power in Port facilities decreased as absence of investment, it is to present an effective investment plan for Port industry. Though Port industry as one of main national key industries play an important role in production of national economy, it has been evaluated as having relatively less importance. And when Port industry is managed independently, relying on foreign countries without improvement, price increase due to improper agreement of foreign enterprises and problems relating to securing safe transportational vehicles will have tremendous impact on national economy. And they should try to create added-value and support re-export of the exported and imported shipment through their processing and packaging by making Port zones bonded area. production of national economy, it has been evaluated as having relatively less importance. And when Port industry is managed independently, relying on foreign countries without improvement, price increase due to improper agreement of foreign enterprises and problems relating to securing safe transportational vehicles will have tremendous impact on national economy. And they should try to create added-value and support re-export of the exported and imported shipment through their processing and packaging by making Port zones bonded area.

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Techno-economic Comparison of Absorption and Adsorption Processes for Carbon Monoxide (CO) Separation from Linze-Donawitz Gas (LDG) (Linze-Donawitz 가스로부터 일산화탄소(CO) 분리를 위한 흡수 및 흡착공정에 대한 기술경제성 비교)

  • Lim, Young-Il;Choi, Jinsoon;Moon, Hung-Man;Kim, Gook-Hee
    • Korean Chemical Engineering Research
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    • v.54 no.3
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    • pp.320-331
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    • 2016
  • Linze-Donawitz gas (LDG) adjunctively produced in the steel mill contains over 60% of CO. Two processes that recover high purity CO from LDG were considered: COSORB and CO-Pressure swing adsorption (PSA). This study aimed to decide which one is more economically feasible than the other by techno-economic analysis (TEA). From the technical point of view of TEA, the process flow diagram (PFD) was constructed, the mass and energy balances were calculated, and the equipment type and size were determined in order to estimate the total capital investment (TCI) and the total production cost (TPC). From the economic point of view of TEA, economic performance such as return on investment (ROI) and payback period (PBP) was evaluated, and the sensitivity analysis was carried out to identify key factors influencing ROI and PBP. It was found that CO-PSA is more economically feasible due to higher ROI and lower PBP. The CO price highly influenced ROI and PBP.

A Study on Korean Firms' Outward FDIs to China (중국 내 순차적 직접투자와 경영 전략적 특성에 관한 연구)

  • Yim, Hyung-Rok;Chung, Wonjin
    • International Area Studies Review
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    • v.18 no.3
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    • pp.47-66
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    • 2014
  • A noticeable aspect of Korean firms' outward sequential FDIs to China is that they occur sequentially, which means that they implement the outward FDIs to China with a long-term perspective. To analyze the strategic advantages of sequential investment, we introduce Cournot type quantity competition model. According to the model, three important implications are derived. First, sequential FDIs enhances the Korean parents' production capabilities. Second, the parents are more likely to establish new Chinese subsidiaries as they stay longer in China. Third, the production effect of sequential investments incurs more sequential investments. Some regression models are tested for verifying the predictions. According to empirical results, three important results are found. First, initial entry mode affects the size expansion of the Korean parents. Second, the longer the duration of intial subsidiary in China, the more the sequential investment will be. Third, sequential investments are positively associated with the productivity of the Korean parents.

A Comparative Study on Institutional Influence Factors of Firm's Motivation of Participating and Investing in Apprenticeship in Germany and Korea (기업의 도제훈련 참여 및 투자 동기의 제도적 영향요인: 독일-한국 비교 연구)

  • LEE, Hanbyul
    • Korean Journal of Comparative Education
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    • v.27 no.1
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    • pp.247-284
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    • 2017
  • The purpose of this study is to analyze firm's motivation of participating and investing in apprenticeship in Germany and Korea, and to investigate institutional factors influencing firm's motivation. By comparing institutional factors of the two countries, it aims to drawing out policy implications for improving Korean apprenticeship. The main method for data collection was comprehensive literature review on international organizations, each countries' government and research institutes' policy materials, statistical data, research outputs and media resources related to each countries' apprenticeship. Considering whether firm's motivation for participating and investing in apprenticeship is production-oriented or investment-oriented, Germany is more inclined to investment motivation with firm's covering net cost during apprenticeship period. On the other hand, Korea is more inclined toward production orientation with firm's expectation of gaining net profit during the training period. Why is firm's training motivation different in these two countries? The author tried to find the reason from the difference of institutional factors of the countries by dividing institutional factors into 4 categories: context(tripartite relations, legal framework), input (flexibility of the system, government incentive), process(training contents, training duration, quality assurance), and output(completion/retention rate, apprentice's productivity). The key implication from the comparative analysis of institutional factors is that it is necessary to enforce companies to have "accountability" on the minimum critical elements, but also to ensure them to have "autonomy" on the rest of the elements.

Investment and Economic Ripple Effects from Fostering the Digital Treatment Technology Industry (디지털 치료기술 산업 육성에 따른 투자와 경제적 파급효과)

  • Kim, Jae-Hyun;Moon, Jong Youn;Jang, Jieun;Sim, Jung Yeon;Shin, Jaeyong
    • Health Policy and Management
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    • v.30 no.4
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    • pp.438-443
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    • 2020
  • The digital treatment technology industry is one of the core fostering industries of the Moon Jae-in government along with the global trend. The purpose of this study is to compare and analyze the investment and economic ripple effect on the related industries. To this end, we used the industry-related table, which is the actual measurement data for 2015 that the Bank of Korea actually measured and released every 5 years in 2019. The digital treatment technology industry was not clearly classified within Korea's industrial classification system, so the contents of the industry-related survey were analyzed, and the digital treatment technology industry was reclassified and then analyzed. As a result of the analysis, it was analyzed that the production induction effect of the digital treatment technology-related industry in 2015 was 1.770, the value-added induction effect was 0.875, and the employment induction effect was 19.128, which was higher than that of other industries in Korea. As a result of the analysis of the economic ripple effect (scenario 1), the production inducing effect was about 370 billion won, the added value inducing effect was about 185 billion won, and the employment inducing effect was 4,044 people. The results of this study are expected to play a large role in economic revitalization as the effect of inducing production, increasing employment, and creating added value through fostering the digital treatment technology industry is expected to play a large role in activating the economy. It is expected to play a large role in providing central medical services. Therefore, it is expected that policy support for revitalizing the digital treatment technology industry through active investment support and tax benefits from the government to foster the digital treatment technology industry is necessary.

Appraisal of the Special Production Area Development Project in Rural Area and Countermeasures for Off-farm Income Increase (The Case of Chungnam Province) (농어촌(農漁村) 특산단지개발사업(特産團地開發事業)의 평가(評價)와 농외소득증대방안(農外所得增大方案) (충청남도(忠淸南道)를 중심(中心)으로))

  • Lim, Jae Hwan
    • Korean Journal of Agricultural Science
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    • v.18 no.2
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    • pp.164-179
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    • 1991
  • Korean agriculture has encountered two problems. One is internal income disparity between rural and urbarn area and the other is external Uruguay Round trade problems as an abolition of direct and indirect import barriers, reduction in export subsidies and to reduce internal price supports. These problems will be brought severe farm problems such as decreasing farm household income and repressing agricultural growth in the near future. Considering the above inevitable facts Korean government has implemented several development projects such as rural industrial area development project, rural special production area development project, leisuresight seeing farm development project, traditional food development project, unskilled labor training project for off-farm employment and so on, to increase farm household income through off-farm income increase. This study was mainly concentrated on the identification of operational problems and post evaluation of the rural special production area development projects which aimed at increasing non-farm incomes and giving employment opportunity for rural farmers in small factories processing regional special farm products and mine products. The main findings and problems to be solved for the successful project implementation are as followed ; 1. Total number of the special production area development projects as of the end of 1991 was amount to 138, and total number of farm household participated were estimated at 2,079, and total amount of off-farm income per farm household was reached to 3,011 thousand won. 2. The total number of processed special products have increased from 21 items in 1981 to 56 items in 1991. On the other hand the total number of farm household participated in the projects have decreased from 2,518 to 2,079 during same period. 3. Total amount of investment for the projects has increased from 1,429 million won in 1981 to 24,760 million won in 1991 but the rate of G'T loan of the total investment has reduced from 24.5% to 5.2% during same period. 4. 138 special production area development project are classified into 6 kinds of commodity groups such as 19 of general industrial good production areas, 52 of folks-industrial art objects production areas, 39 of food processing areas, 9 of fiber and texstile processing areas, 18 of agricultural and fishery inputs processing areas and 1 of stone processing area. 5. The total production value in 1990 was estimated 20,169 million won of which export was amount to 2,627 million won. 6. The finacial rate of return of the UNGOK KUGIJA Tea processing Project operated by UNGOK coops and BAKSAN ginseng tea processing project were estimated at 45.4% (B/C Ratio=1.17, NPV=152.5 million won) and 17.7% (B/C Ratio=1.12, NPV=120.2 million won) respectively. 7. More favorite terms and condition of the loan including collateral problems have to be given to farmers participated. Heavy investment and G'T subsidy policies should be started for the successful project implementation anf farm household income increase. 8. To expand market demand of the rural special goods G'T have to provide special program of TV or other mass media for commodity propaganda and the total cost concerned must be supported by G'T subsidy. 9. The special farm products as GUGUJA,MOSI'Ramie', Ginseng. SOGOKJU,HEMP,Mushroom.DUGYUNJU and Chesnut processing projects have to be propelled and expanded for off-farm income increase in Chung Nam Province. 10. Direct operational pattern of the special production area by coops is more favorable to farmers and recommendable considering with off-farm income increase and market demand creation throughout Korea. 11. In rural area, special organizations for project appraisal are not exist. Accordingly special training program, project appraisal, formulation and preparation for civil servants concerned have to be prepared for project selection and sound implementation under limited budget and financial support.

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A study on the improvement of distribution system by overseas agricultural investment (해외농업투자에 따른 유통체계 개선방안에 관한 연구)

  • Sun, Il-Suck;Lee, Dong-Ok
    • Journal of Distribution Science
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    • v.8 no.3
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    • pp.17-26
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    • 2010
  • Recently concerns have been raised due to the unbalanced supply of crops: the price of crops has been unstable and at one point the price went up so high that the word Agflation(agriculture+ inflation) was coined. Korea, in particular, is a small-sized country and needs to secure the stable supply of crops by investing in the produce importation at a national level. Investment in foreign produce importation is becoming more important as a measure for sufficient supply of crops, limited supply of domestic crops, weakened farming conditions worldwide, as well as recent changes in the use of crops due to the development of bio-fuels, influence of carbon emission on crops, the price increase in crops, and influx of foreign hot money. However, there are many problems with investing in foreign produce importation: lack of support from the government; lack of farming information and technology; difficulty in securing the capital; no immediate pay-off from the investment and insufficient management. Although foreign produce is originally more price-competitive than domestic produce, it loses its competiveness in the process of importation (due to high tariffs) and poor distribution system, which makes it difficult to sell in Korea. Therefore, investment in foreign produce importation is being questioned for feasibility; to make it possible, foreign produce must maintain the price-competitiveness. Especially, harvest of agricultural products depends on natural and geographical conditions of each country and those products have indigenous properties, so distribution system according to import and export of agricultural products should be treated more carefully than that of other industries. Distribution costs are differentiated into each item and include cost of sorting and wrapping, cost of wrapping materials, cost of domestic transport, cost of international transport and cost of clearing customs for import and export. So transporting and storing agricultural products generates considerable costs compared with other products. Also, due to upgrade of dietary life, needs for stability, taste and visible quality toward food including agricultural products are being raised and wrong way of storage causes decomposition of food and loss of freshness, making the storage more difficult than that in room temperature, so storage and transport in distribution of agricultural products needs specialty. In addition, because lack of specialty in distribution and circulation such as storage and wrapping does not solve limit factors in distance, the distribution and circulation has been limited to a form of import and export within short-distant region. Therefore, need for distribution out-sourcing which can satisfy specialty in managing distribution and circulation and it is needed to establish more effective distribution system. However, existing distribution system of agricultural products is exposed to various problems including problems in distribution channel, making distribution and strategy for distribution and those problems are as follows. First, in case of investment in overseas agricultural industry, stable supply of the products is difficult because areas of production are dispersed widely and influenced by outer factors due to including overseas distribution channels. Also, at the aspect of quality, standardization of products is difficult, distribution system is quite complicated and unreasonable due to long distribution channels according to international trade and financial and institutional support is not enough. Especially, there are quite a lot of ineffective factors including multi level distribution process, dramatic gap between production cost and customer's cost, lack of physical distribution facilities and difficulties in storage and transport due to lack of wrapping containers. Besides, because import and export of agricultural products has been manages under the company's own distribution according to transaction contract between manufacturers and exporting company, efficiency is low due to excessive investment in fixed costs and lack of specialty in dealing with agricultural products causes fall of value of products, showing the limit to lose price-competitiveness. Especially, because lack of specialty in distribution and circulation such as storage and wrapping does not solve limit factors in distance, the distribution and circulation has been limited to a form of import and export within short-distant region. Therefore, need for distribution out-sourcing which can satisfy specialty in managing distribution and circulation and it is needed to establish more effective distribution system. Second, among tangible and intangible services which promote the efficiency of the whole distribution, a function building distribution environment which includes distribution information, system for standard and inspection, distribution finance, system for diversification of risks, education and training, distribution administration and tax system is wanted. In general, such a function building distribution environment is difficult to be changed and supplement innovatively because its effect compared with investment does not appear immediately despite of its necessity. Especially, in case of distribution of agricultural products, as a function of collecting and distributing is performed individually through various channels, the importance of distribution information and standardization is getting more focus due to the problem of repetition of work and lack of specialty. Also, efficient management of distribution is quite difficult due to lack of professionals in distribution, so support to professional education is needed. Third, though effort to keep self-sufficiency ratio of staple food, rice is regarded as important at the government level, level of dependency on overseas of others crops is high. Therefore, plan for stable securing food resources aside from staple food is also necessary. Especially, governmental organizations of agricultural products distribution in Korea are production-centered and have unreasonable structure whose function at the aspect of distribution and consumption is quite insufficient. And development of new distribution channels which can deal with changes in distribution environment and they do not achieve actual results of strategy for distribution due to non-positive strategy for price distribution. That is, it implies the possibility that base for supply will become vulnerable because it does not mediate appropriate interests on total distribution channels such as manufacturers, wholesale dealers and vendors by emphasizing consumer protection excessively in the distribution of agricultural products. Therefore, this study examined fundamental concept and actual situation for our investment to overseas agriculture, drew necessities, considerations, problems, etc. of overseas agricultural investment and suggested improvements at the level of distribution for price competitiveness of agricultural products cultivated in overseas under five aspects; government's indirect support, distribution's modernization and distribution information function's strengthening, government's political support for distribution facility, transportation route, load and unloading works' improvement, price competitiveness' securing, professional manpower's cultivation by education and training, etc. Here are some suggestions for foreign produce importation. First, the government should conduct a survey on the current distribution channels and analyze the situation to establish a measure for long-term development plans. By providing each agricultural area with a guideline for planning appropriate production of crops, the government can help farmers be ready for importation, and prevent them from producing same crops all at the same time. Government can sign an MOU with the foreign government and promote the importation so that the development of agricultural resources can be stable and steady. Second, the government can establish a strategy for an effective distribution system by providing farmers and agriculture-related workers with the distribution information such as price, production, demand, market structure and location, feature of each crop, and etc. In order for such distribution system to become feasible, the government needs to reconstruct the current distribution system, designate a public organization for providing distribution information and set the criteria for level of produce quality, trade units, and package units. Third, the government should provide financial support and a policy to seek an efficient distribution channel for foreign produce to be delivered fresh: the government should expand distribution facilities (for selecting, packaging, storing, and processing) and transportation vehicles while modernizing old facilities. There should be another policy to improve the efficiency of unloading, and to lower the cost of distribution. Fourth, it is necessary to enact a new law covering exceptional cases for importing produce in order to maintain the price competitiveness; currently the high tariffs is keeping the imported produce from being distributed domestically. However, the new adjustment should be made carefully within the WTO regulations since it can create a problem from giving preferential tariffs. The government can also simplify the distribution channels in order to reduce the cost in the distribution process. Fifth, the government should educate distributors to raise the efficiency and to modernize the distribution system. It is necessary to develop human resources by educating people regarding the foreign agricultural environment, the produce quality, management skills, and by introducing some successful cases in advanced countries.

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Employment Relations of the Low-Wage Production Base : Volkswagen and Hyundai in Central and Eastern Europe (저임금 생산기지의 고용관계 : 폭스바겐과 현대기아 중동부유럽 자회사를 중심으로)

  • Kim, Chulsik
    • Korean Journal of Labor Studies
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    • v.24 no.1
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    • pp.65-105
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    • 2018
  • This study examines the employment relations of TNC subsidiaries in Central and Eastern Europe(CEE). Specifically, this study analyzes the employment relations of Volkswagen subsidiaries, which has led the restructuring the CEE's automobile industry since the collapse of socialist regimes, and Hyundai subsidiaries, which has sought to cast employment relations through Greenfield Investment as a latecomer. After the collapse of socialism, with the massive inflow of foreign direct investment and the social legacy of weak labor unions, CEE has been included in the global production network as low-wage production base. Both VW and Hyundai have entered the CEE with their own characteristics and global strategies that have been developed in their home countries and have developed the local production. In the process, both have formed local employment relations, combining low-wage, unstable employment, and weak labor unions of CEE under their own strategy. In recent years, however, it has been doubtful of the sustainability of employment relations based on the advantages of low-wage production bases, as the pools of low-wage workforce decline and new union movements occur in CEE. These changes in CEE are an indication of the inherent contradiction of low-wage production base strategies.

Research for Thickness Change of Denture Base in Flask when Injecting Valplast Flexible Partial Denture Resin (발플라스트 레진 주입 시 발생되는 의치상의 두께변화에 관한 연구)

  • Jang, Wan-Young;Kim, Bu-Sob;Chung, In-Sung
    • Journal of Technologic Dentistry
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    • v.30 no.2
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    • pp.47-56
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    • 2008
  • This is a research for thickness change of denture base according to the shape of sprue & investment position of denture base in flask when injecting polyamid base resin for flexible partial denture as a part of study for Valplast among the flexible partial denture with a nylon base. It has been introduced several kinds of flexible partial denture product with a nylon base, but Valplast is the most widely used product among them. Valplast has been the most generally used material today since developed in 1950s in the United States as a material for flexible partial denture. Valplast is much more aesthetic than general metal-acrylic partial denture due to its translucent pink color and biocompatibility in terms of material characteristic. It keeps its flexibility for a long time after production, imposes a less burden on the teeth used as abutment, and it can be easily insert and remove due to its particular suppleness. Moreover, it is felt like real teeth more than metal-acrylic partial denture when being put in and takes alveolar bone under good protection since it receives occlusal force equally under the denture base. The most outstanding feature of Valplast is flexibility. The extent of its flexibility is determined by width & thickness of denture base. Considering general working procedure of Valplast, it can be seen that the thickness of denture base formed out of wax is increasing by the pressure while injecting resin. This research is to decide and test on the thickness increasing of Valplast by injecting pressure and the hypothesis upon that and is to prepare the basis estimating the increasing extent of thickness of denture base on the basis of the test result. In this test, it is expected occlusal malposition & thickness increasing of denture base by injecting pressure according to 4 kinds of test data which are to select 3 types of sprue method settling the forefront position at which the test material of fixed standard can be invested and to position the test material at the rearmost part keeping the minimum distance to set sprue. For 4 kinds of injecting test by investment position & sprue type, 20 test materials, 5 for each test were produced and a pressure of 1,180Kg was given with automatic injector of air cylinder type. The results are as follows: 1. For the amount of thickness increasing of denture base by investment position, the thickness of front investment is less increasing than the one of rear investment. 2. For the amount of thickness increasing of denture base by sprue type, the thickness of straight decompression sprue type which can absorb the injecting pressure after injecting polyamide base resin is less increasing than the other sprue types.

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A study on ICO-based fund investment (ICO 기반 자금 투자에 대한 연구)

  • Yoo, Soonduck
    • The Journal of the Institute of Internet, Broadcasting and Communication
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    • v.19 no.5
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    • pp.25-32
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    • 2019
  • The purpose of this study is to investigate how to make a proper investment in ICO in the market. Previously, companies used to borrow money from banks or to obtain investments from venture capital (VC) and angel investors, but now ICOs are used as a new type of funding and financing model. The ICO sells the tokens or coins created on the blockchain openly online to raise the necessary funds, and provides the market value by paying the tokens or coins as much as the investment amount. According to this study, the limitations of the ICO market are (1) difficulties in evaluating the company, (2) uncertainties in investments, (3) lack of legal safeguards, and (4) measures to secure corporate stability after recruitment. At present, there is no way to cope with this systematically since the ICO is not protected in the legal framework. Nevertheless, we investigated the ways to make proper investment in the existing ICO market. In investing in ICO, investors should (1) consider investment methods and profitability, and (2) verify and judge investment fraud through various channels (ex. Homepage, composition team profile, etc.) and make investments based on this. This study will contribute to the formation of a healthy ICO market by understanding the newly emerged ICO market and studying the considerations when investing in it, thereby contributing to the right investor training and reducing the mass production of consumer damages caused by fraud. The limitation of this study is that the domestic ICO has not yet been examined in the legal framework, so further research is needed when policy changes occur in the future.