• International conference on construction engineering and project management
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• 2009.05a
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• pp.354-360
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• 2009

The demands for large-scale construction projects such as Mega-projects are largely increasing due to the rapid growth of increasing populations as well as the need to replace existing buildings and infrastructure. Increasing costs of materials, supplies, and labors require the first cost estimates at the preliminary planning stage to be as accurate as possible. This paper presents the results obtained from the survey on evaluating nine critical success factors that influence the accurate first cost estimates for large-scale projects from practical experiences. It then examines the current cost structures of construction companies for large-scale projects, followed by the causes for cost and schedule overrun. Twenty completed surveys were collected and the Analytic Hierarchy Process was applied to analyze the data. The results indicate that technology issues, the contract type, and social and environmental impacts are the significant leading factors for accurate first cost estimates of large-scale construction projects.

• ETRI Journal
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• v.30 no.4
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• pp.587-596
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• 2008

Facility-based competition (FBC) in the telecommunications market is considered to have lower static efficiency in the short term and higher dynamic efficiency in the long term. Under service-based competition (SBC), the entrant can reduce its setup costs by leasing network facilities from the incumbent, which makes the entrant viable, pushes the market price down and promotes static efficiency. This paper attempts to measure static efficiency by comparing the profits of the incumbent and entrant in terms of consumer surplus and social welfare under each competition type by extending the Stackelberg model. The results, assuming a linear demand function and variation in regulatory level, show that FBC results in higher social welfare than SBC on the whole. However, SBC accompanied by strong regulation is also shown to have the potential to be superior over FBC. It is also revealed that FBC exhibits a higher producer surplus (particularly, the incumbent's producer surplus) and is, therefore, more desirable in terms of dynamic efficiency. When the entrant's cost is high in FBC, social welfare is shown to be lowered, implying that cost competitiveness is a necessary condition for social welfare.

• Journal of Korea Port Economic Association
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• v.27 no.2
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• pp.85-110
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• 2011

The purpose of this study is to evaluate the social costs of inland trucking and maritime transport between Kwangyang Port in Korea and the Great Lakes in US. Also, this study compares these social costs each other, and finds the way how to internalize them for the efficiencies of national logistics policies. This study uses the Contingent Valuation Method to evaluate the social costs for the two transport modes in each country. The final result is that the social cost difference between inland trucking and maritime transport around US Great Lakes area is not so significant that there are not many chances to enhance the maritime transport in the region. However, in case of Korea, there is significant difference in social costs between the two transport modes, so that Korea government may have a lot of chances to improve the seaborne trade by way of various internalization policies.

• Korean Security Journal
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• no.6
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• pp.167-193
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• 2003

Korean social structure is changing by leaps and bounds caused by industrialization, urbanization and information. Because of this, the sense of value, and moral consciousness of Korean people have been edteriorating and all kinds of social evils have been increasing also. However, the police who ought to be in charge of public well-being, security, social order are not playing their role on account of bad working conditions, and lack of budget. For this reason, individuals are desirous of preserving their security and lives at their cost. Private security has emerged at this background.

• Environmental and Resource Economics Review
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• v.12 no.1
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• pp.75-90
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• 2003

In this paper we have shown that a Pigouvian tax is an adequate resolution of congestion externality to attain Pareto optimality using utility maximization. For this objective, taking an open access freeway as an example, we not only derived both marginal private benefit and marginal social benefit, but also assessed the divergence between marginal private benefit and marginal social benefit. As a result, we identified that the amount of a Pigouvian tax should be the same amount as the external time cost, which is the value of the marginal time cost to Individual a incurred by Individual b through freeway congestion. This Pigouvian tax coincides with the profit or wealth maximizing toll suggested by literature on the basis of profit maximization. In addition, because an open access freeway is accounted as common property resource, we proved that average social congestion cost is essentially equal to marginal private congestion cost in our model. Finally, we showed that the optimal value of trip derived in our model is the same as that generated on profit maximization approach.

• Quality Improvement in Health Care
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• v.7 no.2
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• pp.168-179
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• 2000

Background : Economic evaluation of clinical pharmacokinetic consultation services for theophylline, which is being widely used recently, is considered in patients for both proper care and cost efficiency. Mathods : This is a cost-benefit analysis of clinical pharmacokinetic consultation service for theophylline. Trial groups were chosen from 2 general hospitals which was performing clinical pharmacokinetic consultation- services in 1998. Control group was chosen from another one general hospital. The analysis includes 25 patients (sample patients) for trial group and 17 patients for control group. Results : On the basis of incremental analysis, it is estimated that the total (direct and indirect) annual costs of the clinical, pharmacokinetic services of theophylline for the patients in the trial group was about \65 million, whereas total annual benefits from those services was estimated to be about \551 million. The net benefits incurred to the sample patients, thus calculated, was about \485 million per year. In the analysis, we assumed that indirect benefits accruing to those services were non-existent. If that amount was included, the estimated net benefits would be much greater than the calculated one. Conclusion : We found that clinical pharmacokinetic consultation services for theophylline could produce more marginal benefits than marginal costs by those services from the social point of view. More controlled prospective trial in the future would be helpful for affirmation of the results of this study.

• Journal of Navigation and Port Research
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• v.30 no.10 s.116
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• pp.819-823
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• 2006

Since the north port in Busan started to operate in general pier (1, 2, central, 3 and 4), the business area had been expanded to Jasungdae, Shinsundae, Gamman zone and so on However, these zones adjoin the Busan city and have caused problems to both logistics and city activities. The operation of Off-Dock Container Yard (ODCY) is a representative example due to the limited sphere of Container Yard in this city. It increases logistics costs and causes serious social problems as a result of increasing traffic in the trunk roads such as Uam and Chungjang roads. This paper aims to analyze the effects of the reduction in traffic of trunk roads in Chungjan, Uam roads and so on, when General Pier and Jasungdae Pier are Re-developed. The effects of the reduction in social cost from traffic congestion are also analyzed. Finally, we predict and evaluate the effects according to the re-development of two piers, north pier and Jasungdae pier.

• Environmental and Resource Economics Review
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• v.14 no.4
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• pp.923-941
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• 2005

Odor problem of livestock operation is important issue in a local community. I quantified the property price impact of 199 livestock operations for 3,355 housing sales in the U.S (Colorado). Spatial hedonic model was adopted to deal with spatial autocorrelation in housing market. Small beef and dairy operations, which are the traditional agricultural sector, seem to create a positive rural lifestyle amenity effect. However, the impact of livestock operation on rural residential sales turns to negative if the operation is over a certain size and species. Large hog and sheep operation seems to bring fatal economic loss from the local community perspective if it close to residential area. Livestock odor is one of the negative externality, the results provide the potential social cost of the livestock sector in the region. Policy makers may incorporate this social cost in the regional planning to minimize the social and maximize the development effect. Therefore, local officials and private individuals should carefully consider the location and characteristics of new residential properties and livestock operations alike.

• Journal of the Korean Solar Energy Society
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• v.40 no.1
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• pp.1-13
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• 2020

A study on estimation of the Levelized Cost of Energy (LCOE) was conducted for the Korean onshore wind farms. The LCOE was estimated on the basis of the actual wind farm data from Data Analysis, Retrieval Transfer system (DART) run by Financial Supervisory Service. Recently, social discount rate of Korea dropped from 5.5% to 4.5%, which was taken into account for this study. The onshore wind farms studied accounted for 42% of all the onshore wind farms of South Korea. Capital Expenditure (CapEx) and Operation Expenditure (OpEx) were calculated from the actual data, while Capacity Factors (CFs) were obtained from the wind farms of five provinces. Their distributions were estimated using Maximum Likelihood Estimation method, and then Monte Carlo Simulation (MCS) was performed for estimating LCOE, Levelized Fixed Cost (LFC), and Levelized Variable Cost (LVC). As a result, the LCOEs at the two discount rates, 4.5 and 5.5%, were 142 and 152 $/MWh, respectively, which were lower than that of financially viable onshore wind project of Korea. The 1% drop of social discount rate was estimated to result in a 10 $/MWh decrease in LCOE and a 4 $/MWh in LFC, which can be an advantage for wind project investors.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• v.1
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• pp.275-279
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• 2006

Since the North port in Busan started to operate in general pier (1, 2, central, 3 and 4), the business area had been expanded to Jasungdae, Shinsundae, Gamman zone and so on. However, these zones adjoin the Busan city and have caused problems to both logistics and city activities. The operation of Off-Dock Container Yard (ODCY) is a good representative example due to the limited sphere of Container Yard in this city. It increases logistics costs and causes serious social problems as a result of increasing traffic in the truck roads such as Uam and Chungjang roads. This paper aims to analyze the effects of the reduction in traffic of trunk roads in Chungjan, Uam roads and so on, when General Pier and Jasungdae Pier are Re-developed. The effects of the reduction in social cost from traffic congestion are also analyzed. Finally, we predict and evaluate the effects according to the re-development of two piers, north pier and Jasungdae pier.