• Journal of Korea Port Economic Association
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• v.26 no.4
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• pp.63-87
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• 2010

The purpose of this paper is to measure the efficiency of Korean container terminals by using SFA(Stochastic Frontier Analysis). Inputs[Number of Employee, Quay Length, Container Terminal Area, Number of Gantry Crane], and output[TEU] are used for 3 years(2002,2003, and 2004) for 8 Korean container terminals by applying both SFA and DEA models. Empirical main results are as follows: First, Null hypothesis that technical inefficiency is not existed is rejected and in the trasnslog model, the estimate is significant. Second, time-series models show the significant results. Third, average technical efficiency of Korean container terminals are 73.49% in Cobb-Douglas model, and 79.04% in translog model. Fourth, to enhance the technical efficiency, Korean container terminals should increase the handling amount of TEUs. Fifth, both SFA and DEA models have the high Spearman ranking of correlation coefficients(84.45%). The main policy implication based on the findings of this study is that the manager of port investment and management of Ministry of Land, Transport and Maritime Affairs in Korea should introduce the SFA with DEA models for measuring the efficiency of Korean ports and terminals.

• Journal of Korea Port Economic Association
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• v.25 no.1
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• pp.87-106
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• 2009

This paper is intended to suggest benchmarking ascension for the Gwangyang Port as a hub for international logistics. Most countries that seek to join. and lead, the global trading system as they work to develop production and logistics systems that establish a reputation for leadership in international logistics. Our focus in this research is on the Gwangyang Port and whether Gwangyang Port is capable of carving out a competitive niche as a hub of international logistics. Our analysis is based on comparison and analysis with benchmark port developments around the world. As proposals to promote and activate Gwangyang Port as a hub for international logistics, we recommended in this paper several benchmarks. First, Gwangyang Port FTZ must strengthen the incentive system for tenant companies and providing an inducement for new global companies. Second, Gwangyang Port needs to moderation of regulation on the investment tenant companies and strengthening one-stop service. Third, it is required to stabilize labor and management relationship and securing of flexibility of labor market. Lastly, Gwangyang Port must strengthen mutual interaction of Free Economic Zone (FEZ), Customs Free Zone(CFZ) and Free trade Zone(FTZ) in Korea.

• Journal of the Korean Geographical Society
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• v.51 no.2
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• pp.235-253
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• 2016

China has been developing a new auto industry growth plan since 2004. In line with this initiative, China actively adopted its policy favoring foreign companies' investment which had a competitive edge over their technologies and manufacturing methodologies. To meet this demand in policy and market change, many foreign auto companies and their parts' manufacturers including Korean auto companies joined this stream. Policy change favoring higher technologies applicable in China requested auto companies' swift adaptation to meet the policy requirements by higher technologies with innovation and introduction of those foreign technologies to China. The spatial (excellence) strategy was followed by the increase in its efficiency and competiveness of each region, which were materialized by or in the form of; Firstly, strategic partnership with China auto companies and encouragement of Korea auto parts manufacturing companies to set up its own factories in China. Secondly, modularization and platform sharing strategy by applying enhanced technologies. Thirdly, strategic utilization of China local government's incentive policies. As production management methodology, JIS was adopted all across the board to meet the on-demand market requirements in the manufacturing processes. Auto part manufacturers had been integrated regionally based on forward linkages and modules. As a result, regional-specific auto industry complexes have been made in the places such as Beijing-Hyundai in the north, Dongfeng-Yueda-Kia in the south, common auto parts at central area like Qingdao, and other parts and raw materials in the vicinity of Shanghai.

• Journal of Energy Engineering
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• v.24 no.1
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• pp.32-41
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• 2015

The Metropolitan Area Green Heat Project (MAGHP), which collects unused heat gathered from power plants, steel works, landfills in western Metropolitan area and distribute it to integrated energy business (IEB) companies, is proposed for the purpose of enhancing energy efficiency and providing low-price heat for IEB companies. Therefore, in order to decide on whether to initiate the MAGHP, the economic feasibility analysis of the project is widely demanded. This paper attempts to consider and measure four economic benefits: heat supply benefit, production cost reduction benefit, greenhouse gas mitigation benefit, and air quality improvement benefit. In addition, the paper tries to conduct the economic feasibility analysis. The project requires three-year investment and thirty-year operation. Three important findings emerge from the analysis. First, its net present value is computed to be 1,269 billion won and more than zero. Second, its benefit/cost ratio is calculated to be 1.72 and bigger than 1.0. Third, its internal rate of return is estimated to be 24.26% and larger than the social rate of return, 5.5%. In conclusion, the MAGHP is socially profitable and should be conducted immediately.

• Economic and Environmental Geology
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• v.49 no.3
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• pp.201-212
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• 2016

Due to growing problems securing stable mineral and energy resources with international political and economic changes, China has dedicated itself to strategies and policies to enhance its stable mineral and energy resources security. China has established a rare earth elements(REE) industry policy after the abolition of the REE exports quota system. China's six large REE companies have also been integrated into REE mining, smelting and refining companies. Efforts have been increased to enhance China's energy security through unconventional oil and gas exploration and development investment, as well as effort in R&D. The country will focus on technology development and exploration to promote commercial production of unconventional oil and gas based on countries with shale gas. China is making long-term contracts and joint ventures to ensure the acquisition of reliable mineral and energy resources from abroad. Government of China has proposed a range of initiatives, such as the integration of resources development strategies and environmental development strategies, internationalization of resource management, supply diversification and advancement, strengthening industry linking strategy, grouping and diversification strategy.

• Journal of the Korean Institute of Gas
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• v.24 no.4
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• pp.84-92
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• 2020

Most facilities in chemical plants operate in environments that are outside the range of temperature and pressure that can be encountered on a daily basis, and are vulnerable to aging due to these stresses and environmental conditions. The facilities exposed to these conditions are not only likely to fail due to cumulative damage, but also lead to accidents if maintenance and replacement are not performed.Recommendation guidelines called risk-based inspection are widely used around the world-wide. However, limits exist for facilities that have already elapsed for a certain. As a result of the survey on the aging of Ulsan industrial complex in Korea, which carries out proper inspection, many of the facilities have been used for 20 years. Also, most of the facilities where the accident occurred have been in operation for more than 20 years. Therefore, this study suggested criteria for classifying devices that have exceeded a certain period of use as obsolete facilities. In addition, quantitative risk assessment was conducted. The safety investment method using the cost-benefit analysis method was proposed in order to calculate the loss cost and reduce the risk by expressing the risks of the corresponding aged facility as an Economic index. By utilizing the method of cost-benefit analysis of old facilities using the quantitative risk assessment presented in this study, it can be expected to improve the performance and life of old facilities, improve production efficiency and reliability of the system of facilities, change the recognition of safety management costs, increase employee stability, and reduce loss costs.

• Journal of Sericultural and Entomological Science
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• v.14 no.2
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• pp.95-103
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• 1972

The major purpose of this study is to collect the information related on the aspects of economic efficiency for solving the problems which are faced by farmers and areas, and providing scientific facts to farmers and related institutions for further development of sericultural sector in Korea. In order for obtaining the related information 12 sample areas among 23 major sericultural farming areas and 30 farm units in each area are selected and analyzed in this study. The fold suevey is made by member of this study team and graduate students in the Department of Sericultural Science with a prepared questionnaires. Cross-section and regression analysis methods are employed for processing the data in this study. The major findings obtained are as followings. 1. Sericultural earnings per Tanbo is, on the average, 22, 752 won in new cultivated areas and 29, 403 won in ordinary ones. There are big difference in the size of earnings by areas, especially, 46, 968 won in Kumo mountain area, compared with 16, 798 won in Yeoju and Yichun areas. General trend is finded that small scale farming units are made higher earnings and operating their farms efficiently. 2. Cocoon production expences per Tanbo is 16, 737 won in new cultivated areas and 19, 802 won in ordinary areas. There are also big difference in farming expences, especially, 27, 389 won in Sudang area, compared with 11, 689 won in Emjin area. 3. Sericultural income per Tanto is 10, 664 won in ordinary areas and 6, 898 won in new cultivated areas. Farmers in Kumo mountain area make the highest income of 21, 164 won and lowest income of 1, 296 won in Sudang area. It can be generized that about 30-50 a sized farmers make higher income. 4. Land, labor and capital productivities estimated by fitting Cobb-Douglas functions in ordinary areas are higher than in new cultivated areas, especially, labor productivity is higher in ordinary areas. 5. Changsung, Kwangna, Yunsun and Kumo mountain areas are technically and economically efficient. Sudang and Mujinchang areas are technically successful but economically inefficient and Emjin and Honam areas are technically inefficient but economically efficient. YeojuYichun, Chunwon and West Kyongnam are technically and economically inefficient. Technical and economic improvement program should be implemented for these areas. 6. Estimated Internal Rate of Return (IRR) on capital investment in Chongwon are is 23.5 percent. It is economically feasible, if we consider 20 percent of opportunity cost of capital in our economy.

• Current Research on Agriculture and Life Sciences
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• v.4
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• pp.163-168
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• 1986

This study was carried out to compare the conditions of Korean and Japanese forestry. Two countries were appeared same trend in forestry condition, so our forestry in future can be estimated with compared Japanese forestry, but the results obtained are as follows ; 1) The average forest area per capita of the world, Japan and Korea are 0.9, 0.23 and 0.16 ha, respectively, this means that Korean forest area is not sufficient. The growing stock of forest per capita is $22.5m^3$ in Japan and $3.9m^3$ in Korea, but timber consumptions per capita are $1m^3$ in Japan and $0.2m^3$ in Korea. Those mean that both countries have not a plentiful resource of forestry. 2) The forestry production activity becomes gradually stagnation. Both in Korea and Japan, the reforestation and stumpage felling area show gradually decreasing tendency, the artificial forest ratio of total forest area is, at present, 28% in Korea and 40% in Japan. 3) In forestry demand aspect, the ratio of imported timber is 79% in Korea and 62.4% in Japan. Because the price index of timber is lower than the general price index, the dullness of forestry-related industries is expected in future. 4) The forestry labour supply has gradually difficulty because of the reduction in farming labour. 5) The managements of national forests show deficit operation, at present, both in Korea and Japan. The results above mentioned are derived form the poor forest resources, therefore, it is considered that rather more and continuous investment is necessary, but also forestry should be invested in the territorial conservation aspect.

• The Journal of the Korea Contents Association
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• v.19 no.10
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• pp.59-68
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• 2019

To continue the growth of use of 5-star hotels by Koreans, who have recently shown the consumption trends pursuing the empirical value of a consumption process, and have turned into core customers of 5-star hotels in Seoul, it is necessary to study factors of experience value pursued by Koreans. As a result, fantasy is identified as a major leading factor in usage satisfaction among experiencial values. So it is important to reflect special concepts and atmospheres for emotional values, such as other world experience, new experience, and high-quality experience. And consumer return on investment was identified as a leading factor in positively affecting usage satisfaction. So it is important to develope a proper products that can enough benefits with reasonable prices. In the relationship between usage satisfaction and continuous usage intention, gender characteristics and occupational characteristics were found to play a moderating role. Male customers, and those with professional and self-employed occupations, were found to have higher continuous usage intention than females and other occupational customers. This is a result of the fact that customers with an economical power are likely to be continuous repeat customers of 5-star hotels, so the necessity of strengthening marketing activities such as research on the development of more differentiated and specialized products, service creation and atmosphere production for excellent consumers group.

• Journal of Service Research and Studies
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• v.6 no.3
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• pp.29-40
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• 2016

Since the late 20th century, there has been much effort to improve the market value of media contents which are commercialized in a digital format, by fusing digital data of video, audio, numerals, characters with IT technology together. Then by what criteria and methodologies could the market value for the drama "Sons of the Sun" or the animated film 'Frozen', often referred to in the meida, be estimated? In the circumstances there has been little or no research on the valuation framework of media contents and the status of their valuation system development to date, we propose a practical valuation models for various purposes such as contents trading, review of investment adequacy, etc., by formalizing and presenting a contents valuation framework for the four types of media of movies, online games, and broadcasting commercials, and animations. Therefore, we develope computational methods of cash flows which includes production cost by media content types, provide reference databases associated with key variables of valuation (economic life cycle, discount rates, contents contribution and royalty rates), and finally propose the valuation framework of media contents based on both income approach and relief-from-royalty method which has been applied to valuation of intangible assets so far.