• Journal of Environmental Impact Assessment
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• v.11 no.2
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• pp.93-107
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• 2002

The choice of big public investment project needs an appropriate feasibility analysis before it is implemented, bemuse a rot wisely chosen one would bring about big and longrun societal costs. But the feasibility analysis for the big public investment project in Korea has been done without linking the economic benefits and environmental damages. Consequently social conflicts arose frequently during and after project implementation, owing to such concerns asincreasing costs and serious ecological damages. The recent social conflict over the Saemangeum Project is a typical case. This reclamation project began in 1991 and finished 60% of the whole process in 1999, when its feasibility was again assessed under the public pressure by the joint assessment team consisting of both citizen's and government's professionals. Even the assessment report by this joint team could not show the convincing results owing to the improper assessment procedure and failure to set proper feasibility criteria. This paper pointed out the limitations of our current procedure of feasibility assessment and identified the concrete problems that atosee during the recent reassessment process of the Saemangeum reclamation project by the joint team. In order to improve the current problem-ridden practices, it is concluded by the policy recommendation for establishing a right feasibility assessment procedure for the public investment projects.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.21 no.4
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• pp.157-169
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• 2021

Establishing an investment evaluation system for public ICT projects is ultimately to increase the success rate of public ICT projects in which government finances are invested and to revitalize the projects, thereby establishing a foundation for national economic growth and enhancing the competitiveness of the global ICT industry. This study tried to empirically verify the effect of public ICT project investment evaluation factors established according to the existing evaluation system on actual project success, and to suggest directions for future investment evaluation factors. Five evaluation factors such as public interest, economic feasibility, technology, policy and budget efficiency were derived through prior research, and the effect of these evaluation criteria on actual project success was verified through questionnaires from experts who directly participated in the actual project. In addition, it was confirmed whether the government's support system had a moderating effect between the investment evaluation factors and the project success of the ICT project. The reliability and validity of measurement tools, structural model analysis, and path analysis were empirically analyzed, and the significance of existing ICT investment evaluation factors was verified.

• International Journal of Computer Science & Network Security
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• v.21 no.8
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• pp.141-148
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• 2021

Project management is a current trend of management in the public sphere, based on different principles, methods and tools. The tools include information technologies providing control over time, cost, quality and planning process in order to ensure accountability to interested parties. The goal of the research was to examine the impact of the integration of information systems in project management of the public sphere on the quality of public governance and administration using the example of infrastructure projects involving the private sector in developing countries. The methodology of the research is based on the concepts of "digital-era governance" (DEG), "Information governance" and "project governance" to determine the effectiveness of information systems and technologies in the management of infrastructure projects in the public sphere. The data from the countries with Lower middle income (India, Indonesia, Philippines, Ukraine, Vietnam) and Upper middle income (Argentina, Brazil, China, Colombia, Mexico, Peru, Romania, Russian Federation, Thailand, Turkey) for 1996-2020 were used to study the effects of DEG. The results show two main trends in the countries with Lower middle income and Upper middle income. The first trend is the development of digital governance, the concept of "digital-era governance" through information systems and performance measurement of the governance system, forecasting of investment flows of infrastructure projects, measurement of payback and effectiveness parameters for investment management in the public sector, decision support. The second trend is the existence of systemic challenges related to corruption, social and institutional factors through the development of democracy in developing countries and the integration of NPM similar to developed countries. The confidence of interested parties, especially private investors, in public authorities is determined by other factors - the level of return on investment, risks and assignment of responsibility, probability of successful completion of the project. These data still remain limited for a wide range of project participants, including citizens.

• Journal of Information Technology Services
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• v.12 no.3
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• pp.165-178
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• 2013

The interest in economics and efficiency of IT investment is growing as the amount of overall governmental IT investment steadily increase. Accordingly, there is a strong need to determine whether the expenditure incurs effectively for IT investment and to accurately analyze the economics of IT investment, In this perspective, this study discusses the prior researches on concepts regarding the analysis of IT investment management framework as proposed from academic and professional perspectives in advanced countries' government sectors. Thereafter, an adoption of IT investment management (ITIM) framework has been considered so as to enhance the performance of ICT initiative projects in the public sector. In the suggested IT investment management framework, we suggest economics and efficiency of public IT investment should be improved by integrating ICT project selection and control as well as evaluation stage into single governance framework.

• Korean Journal of Agricultural Science
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• v.30 no.1
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• pp.89-101
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• 2003

For the pre-feasibility study and project evaluation, the discount rate or cutoff rate should be given by the government authority. To get the Benefit/Cost Ratio, NPV(Net Present Value) and IRR(Internal Rate of Return) of the public investment projects, the pertinent and realistic discount rate should be determined to be suitable to the present time period. The cut-off rates in Korea were equivalent to 15% in 1970's, 10% in 1980's and 8% in 1990's. The prevailing rate of discount as 8% is considered not to be suitable for the 2000's public project appraisal considering the present interest rates on deposit and national bonds. To determine the socio-economic feasibility of the public projects, the IRR should be bigger than the present cutoff rate. When we still use the high old rate of discount, the analytical results of project appraisal will show always economically unfeasible. Therefore the new rate of discount suitable for present time should be determined by the government. The public projects to be implemented in 2000 year onward are recommended to be adapted 5% of cutoff rate for the project appraisal and evaluation according to the results of reviewing the tendency of discount rates and market rates of interest in Korea.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.29 no.3D
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• pp.381-389
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• 2009

Korean government is investing 1.8 billion won on infrastructure and investment on PPP projects constitutes 16.3%. This phenomenon is to promote private investment as well as lessening government burdens of public budgeting. However, the only criterion to be considered is government financial status in selecting public or private highway investment projects. So systematic decision support model is required in choosing public or private highway investment projects. So, this paper suggests a systematic decision support model for deciding public or private highway investment at the early stage of project planning. Furthermore, this paper identifies key decision variables with respect to economic, politic, project management criterions based on the related literatures and feedbacks from experts. This paper analyzed 30 cases of government investment and PPP projects and got the survey result from highway specialists. As a result, this paper presents an interval with respect to economic criteria using mean and standard deviation and a logistic regression equation which can predict the possibility of PPP project. Through this study, decision maker of central or local government can decide public or PPP highway project more systematically and reasonably.

• Journal of Technology Innovation
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• v.18 no.1
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• pp.75-98
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• 2010

The purpose of this paper is to give policy implications for relevant policy-makers by analyzing factors affecting performance of industrial R&D programs of the Ministry of Knowledge Economy. The independent variables are type of project leader organization(Big Enterprises, SMEs, Ventures Businesses, Public Research Institutions, Universities), cooperative or noncooperative R&D among industry-university-research institution, total number of project participant organization, total R&D investment, and the ratio of private investment to total R&D investment. The dependent variables are domestic or foreign patents granted and domestic or foreign papers accepted. The method of analysis is Poisson Regression analysis operated by STATA. The results of this research are follows ; Universities show higher R&D performance compared to enterprises or public research institutions in terms of patents and papers as well. Venture businesses show higher patent performance compared to SMEs. Inverted U-shaped relationship between total number of project participant organization and R&D performance is not supported. The higher total R&D investment, the higher R&D performance. The higher the ratio of private investment to total R&D investment, the higher R&D performance.

• Knowledge Management Research
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• v.20 no.3
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• pp.91-106
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• 2019

In the era of the 4th Industrial Revolution, the importance of information protection is increasing day by day with the advent of the 'hyper-connection society', and related government financial investment is also increasing. The source of the government's fiscal investment projects is taxpayers' money. Therefore, the government needs to evaluate the effectiveness and feasibility of the project by comparing the public benefits created by the financial investment projects with the costs required for it. At present, preliminary feasibility study system which evaluates the feasibility of government financial investment projects in Korea has been implemented since 1994, but most of them have been actively carried out only in some fields such as large SOC projects. In this study, we discuss the feasibility evaluation of public projects for the purpose of information security. we introduce the case study of the personal information protection program of Korean public institutions and propose a cost-effectiveness analysis method that can be applied to the feasibility study of the information protection field. Finally, we presented the feasibility study and criteria applicable in the field of information security.

• Journal of Korea Water Resources Association
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• v.39 no.12 s.173
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• pp.1067-1080
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• 2006

In empirical evaluations of public projects and public provided goods, MCDA(multicriteria decision-making analysis) has helped decision makers with an adequate policy decision-making tool since it allows taking into account a wide range of assessment criteria. As a tool for decision-making of conflict management, MCDA has demonstrated its usefulness in many public projects such as road, dam and harbor construction. In this study, to use this merit of MCDA, dam project assessment indicators from points of social, economic, environmental and practical views are developed based on sustainable development of water resources, and weighting factors are also estimated by means of questionnaire survey. In order to decide project investment rank, developed evaluation indicators are applied to 6 existing dams under investigation for a rehabilitation project. In addition to, it is recognized that the project practicability has become more important indicator as well as environmental and social issues. This is because cooperation and support from a local government and people are regarded as one of the most important problems in public projects recently.

• New & Renewable Energy
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• v.17 no.2
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• pp.9-23
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• 2021

In Korea, various community investment renewable project models are being implemented to increase community acceptance of renewable energy. An important factor for enhancing local acceptance is that renewable energy projects have a positive effect on revitalizing the local economy such as income increase or job creation for residents and local companies. To maximize the local economic effect of large-scale community investment renewable energy projects, this study developed an evaluation index for local economy activation, whose indicators are the local return on investment, local companies' participation, local job creation, regional cooperation, transparency, and governance. Analysis of existing evaluation indicators and current renewable projects, financial analysis, and expert interviews were used in this research. The pilot evaluation determined that, the local economic effect was high in the following order: a fund investment wind project (Gangwon), benefit-sharing wind project (Jeju), and general wind project. In particular, residents' investment amount, the number of participating residents, and the amount and transparency of the regional cooperation fund were key factors to expand the effect of local economy activation. This evaluation index could be used in public bidding for renewable energy projects such as offshore wind zoning areas of local government.