• Journal of the Korean Society for Railway
• /
• v.19 no.1
• /
• pp.77-86
• /
• 2016

Before urban railway vehicles reach their design life-span, operating agencies should determine when to buy new vehicles. Previous LCC (Life Cycle Cost) studies were limited because they independently focused on existing vehicles based on costs that directly impacted only the operating agency without considering effects such as social costs and the reduction of maintenance costs. Thus, it is difficult to systematically determine when to buy new vehicles. This study investigated the operating and maintenance related costs, especially from additional expenses and social costs due to unexpected vehicle failures and safety accidents, and did an economic analysis of scenarios with different discount rates. Considering that the public is very concerned about safety after the Sewol ferry accident, additional costs, which include social costs, should be included in the analysis. This study shows that the economic priority of scenarios may change depending on whether those costs are included and on the discount rate. The results of this study can help in the decision-making process for the planning and buying of new trains.

• Journal of Digital Convergence
• /
• v.11 no.3
• /
• pp.389-395
• /
• 2013

More sales of food and beverage coupons have been made using SNS on social commerce recently. If one buys coupons on social commerce, he/she can enjoy products at a lower price; however, there are drawbacks that one must consider such as location, service hours, and discount rate. Thus, this paper suggests a system that recommends food and beverage coupons on social commerce for users that considers a user's personal context of location, time, and purchase history. In order to reflect a user's context awareness and continuous preference, this paper suggests a method based on the Bayesian network. In order to reflect personalized weighting on the standard of coupon selection to match a user's preference, a measurement and classification of weighting preferences is performed on the basis of AHP. 20 experiments in one month involving 12 students were carried out to verify the effectiveness of the system, resulting in an 80% satisfaction level.

• Journal of Korean Library and Information Science Society
• /
• v.43 no.1
• /
• pp.287-301
• /
• 2012

This article analyzes the costs and benefits of the seven individuals centers of Foreign Research Information Center. Results of the investment feasibility analysis based on 30 years time span show that 0.99 of BCR (Benefit-Cost Ratio), 5.49% of IRR (Internal Rate of Return), and -507 million Won of NPV (Net Present Value). Sensibility analysis suggests that BCR can be influenced by the journal usage, social rate of discount, and elimination of the duplicate journal among individual centers.

• Ocean and Polar Research
• /
• v.31 no.4
• /
• pp.305-318
• /
• 2009

A marine ranching project in Tongyoung was established in 1998, lasting 9 years to 2006. Project activities included the deployment of artificial reefs, the release of young fishes like jacopever and rockfish, and input/output control for specific marine ranching areas in Tongyoung. This report focuses on the economic feasibility of the project in hindsight. Analysis concentrates on three aspects; (a) direct economic benefits, such as increasing effects of fisheries income and savings in harvesting costs, (b) indirect benefits, including increasing effects of recreational fishing and saving R&D costs, and (c) costs, including releasing and purchasing costs of artificial reef and juvenile fish, R&D costs, maintenance costs and harvesting costs. Results show that NPV=4.7 billion won, IRR=8.55% and B/C ratio=1.286 under Scenario 1, which considers the saving effects of R&D costs, and NPV=0.9 billion won, IRR=6.03% and B/C ratio=1.11 under Scenario 2, which does not consider the saving effects of R&D costs, based on 5.5% of the social rate of discount. According to sensitivity analysis, the economic feasibility is very sensitive to the recapture rate.

• Korean Journal of Construction Engineering and Management
• /
• v.8 no.2
• /
• pp.59-67
• /
• 2007

The cost of low-income groups's housing expenses have been weighting since 2000. To solve this problem, governments encourage supplying rental apartments for them. House rental supplement is most common things to solve housing problem in an advanced country but there is neither earning rate nor assessment standards in our country. Therefore, studies on house rental supplement are required to develop this systems. Hence in this study, we try to suggest both proper house rental charge to encourage nongovernmental construction and house rental supplement, considerng ability to pay.

• Economic and Environmental Geology
• /
• v.46 no.3
• /
• pp.247-256
• /
• 2013

In order to improve the quality assurance of the disaster mitigation projects, the economic effect of these projects in the hazardous areas was analysed. Eight project sites were selected for analyses based on the disaster data during the previous 10 years, and the investment effect was evaluated using a benefit cost ratio (B/C). The benefit was estimated using the historical disaster data and presumed to continue for 30 years, while the cost was assumed with the total project cost. Analysis results indicate the B/C ratio is larger than 1 in the difference range, depending on factors such as impact areas and discount rates. According to the analysis results, the average B/C of the eight projects is 4.1 with assuming the discount rate of 4% and the impact diameter of 5 km, which implies that a disaster management project in hazardous areas will give the positive investment effects.

• Journal of Korea Port Economic Association
• /
• v.37 no.2
• /
• pp.1-17
• /
• 2021

Private investment projects have the characteristic of generating profits for a long period of 30 to 40 years, and fluctuations in profits and costs occur over time, so the interaction of variables over time rather than statistical models or discounted cash flows If the system dynamics technique, which enables simulation of the system, is used, it is considered that meaningful simulation results can be derived for internal and external variables. In other words, by establishing a financial feasibility comparison/verification model based on system dynamics for private investment projects in the port sector that have not been attempted before, we compare the differences with the existing cash flow discount method, macroeconomic factors, operating period, social discount rate We will conduct a differentiated study that has not been tried before by simulating how the interrelationships of such variables affect the change in financial performance.

• Journal of Korean Society of Rural Planning
• /
• v.18 no.3
• /
• pp.25-41
• /
• 2012

The purpose of this study is to quantitatively analyze the social welfare value given to the designated rural settlement zone by the resident-participated site unit plan that the City of Cheongju is newly attempting to draft. Firstly, the costs and benefits from the site unit planning were estimated. Secondly, through literature review especially focussed on the benefit and cost estimation, on-site questionnaire was designed, and then sample residents of the qualifying sites were asked about their willingness to pay, which could make it possible to estimate the monetary value of its benefits by the contingent valuation method (CVM). Finally, the present value of net benefits (PVNB) was estimated through the derived costs and benefits. As a result of analysis, firstly, the present value of net benefits (PVNB) was found to be 7,641 billion won, which indicated that the implementation of district-unit plan would be able to cause sufficient social welfare value for the effected residents. Secondly, in examining the result of individual average amount for willingness to pay through the CVM, the area that benefited the most was found to be the road improvement. Thirdly, as a result of sensitivity analysis, the parameter with the most effects was the discount rate, which suggested that, in carrying out public projects, excessive market interest rates would not be appropriate.

• Environmental and Resource Economics Review
• /
• v.12 no.3
• /
• pp.515-529
• /
• 2003

This theoretical model makes three contributions to the study on economic growth and environment. First, emissions are generated during final goods production and technology accumulation. Second, this paper assumes that pollution is directly increasing with increase in final goods output or in consumption. Third, we use reproducible factors associated with labor and capital input in production function and assume constant return to scale in reproducible factors. From growth rate condition we derived, increases in reproducible factors, increases in productivity of either the abatment or technology sector, and decrease in social discount rate would increase the sustainable growth rate. In empirical test, the environmental degradation did not effect the economic growth rate though other factors satisfied the growth rate condition equation. However, through the reinterpretation of this result, we found indirectly the fact of that an inverted U relationship between air pollution and economic growth rate would exist in 20 OECD countries using a panel data for the period of 1986~1995.

• Journal of Environmental Policy
• /
• v.9 no.1
• /
• pp.109-135
• /
• 2010

This study estimated the social benefits of establishment 01 the Taehwa Field Ecology Park in Ulsan Metropolitan City, using CVM(Contingent Valuation Method) with multiple choices in consideration of respondent's uncertainty. The estimation results 01 lour logit models show that the probability of willingness-to-pay increases significantly with higher income, higher evaluation on the relevancy of establishment of the Park, and male gender, and decreases significantly with the bidding price. Truncated mean household WTP is estimated as 2,409.4 KRW in the MBYES model with the most efficient estimates of WTP among four models. On the basis of the WTP estimates, the present values of total social benefits in Ulsan Metropolitan City are estimated as 236.5 bill ion KRW when applying the 5% discount rate. This result shows that the present values of total social benefits are greater than the total costs in all models, and thus may prove the economic relevancy of the investment for the ecology park establishment.