• Journal of Electrical Engineering and Technology
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• v.9 no.5
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• pp.1501-1510
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• 2014

Low voltage direct current (LVDC) distribution system is a suitable techno-economic candidate which can create an innovative solution for distribution network development with respect to rural electrification. This research focuses on the use of LVDC distribution system to replace some of KEPCO's existing traditional medium voltage alternating current (MVAC) distribution network for rural electrification in South Korea. Considering the technical and economic risks and benefits involved in such project, a comparative techno-economic analysis on the LVDC and the MVAC distribution networks is conducted using economic assessment method such as the net present value (NPV) on a discounted cash flow (DCF) basis as well as the sensitivity analysis technique. Each would play a role in an economic performance indicator and a measure of uncertainty and risk involved in the project. In this work, a simulation model and a computational tool are concurrently developed and employed to aid the techno-economic analysis, evaluation, and estimation of the various systems efficiency and/or performance.

• Korean Journal of Chemical Engineering
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• v.35 no.12
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• pp.2348-2354
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• 2018

We designed a conceptual model of the 2.3-BDO dehydration process using a hydroxyapatite-alumina catalyst and estimated its economic feasibility to predict the appropriate range of the purchase price of 2,3-BDO on commercial scale. The conceptual design and economic analysis can offer valuable information for the industrial application of 2,3-BDO because the most relevant studies have limitation in laboratory scale. Furthermore, the adequate range of 2,3-BDO price, in which the process has profitability, was investigated with the current market prices of 1,3-BD. The investigated price in terms of 2,3-BDO dehydration can pertain to estimation of the economic feasibility in 2,3-BDO production process.

• Journal of Climate Change Research
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• v.7 no.2
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• pp.111-120
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• 2016

In this study, Techno-economic evaluation model for carbon capture & sequestration (CCS) technologies are reviewed. Based on a key parameters of Korea's electricity market, performance data of 10 MW-scale post-combustion $CO_2$ capture pilot plant in Boryong station, the cost of $CO_2$ avoided was evaluated followed by international guideline suggested by IEA CCS costing methods task force. The result showed that Korea's Electricity cost including CAPEX & OPEX of reference power plant is relatively low compared to OECD nations which lead to a lower CCS cost ($33USD\;t/CO_2$). And future work using newly evaluated CAPEX & OPEX data of power plant with/without CCS is recommended.

• KEPCO Journal on Electric Power and Energy
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• v.2 no.1
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• pp.109-113
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• 2016

Techno-economic evaluation of Non-Capture $CO_2$ Utilization (NCCU) technology for the production of high-value-added products using greenhouse gas ($CO_2$) was performed. The general scheme of NCCU process is composed of $CO_2$ carbonation and brine electrolysis process. Through a carbonation reaction with sodium hydroxide that is generated from brine electrolysis and $CO_2$ of the flue gas, it is possible to get high-value-added products such as sodium bicarbonate, sodium hydroxide, hydrogen & chloride and also to reduce the $CO_2$ emission simultaneously. For the techno-economic study on NCCU technology, continuous operation of bench-scale facility which could treat $2kgCO_2/day$ was performed. and based on the key performance data evaluated, the economic evaluation analysis targeted on the commercial chemical plant, which could treat 6 tons $CO_2$ per day, was performed using the net present value (NPV) metrics. The results showed that the net profit obtained during the whole plant operation was about 7,890 mKRW (million Korean Won) on NPV metrics and annual $CO_2$ reduction was estimated as about $2,000tCO_2$. Also it was found that the energy consumption of brine electrolysis is one of the key factors which affect the plant operation cost (ex. electricity consumption) and the net profit of the plant. Based on these results, it could be deduced that NCCU technology of this study could be one of the cost-effective $CO_2$ utilization technology options.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.28 no.1
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• pp.147-157
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• 2005

The purpose of this study is to develope the model of economy analysis and evaluation to justify the effect of economic feasibility for constructing ERP system in the company. Since the results for the evaluation of alternatives are influenced by the nature of capital and the circumstances, it is very difficult to evaluate the alternatives and it takes too much time to apply it in the field on account of many alternatives. This study suggests establishment and application of the model on economic analysis and evaluation regarding the nature of capital by using excel spread sheets.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.31 no.3
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• pp.287-295
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• 1995

fishing boat is a specialized vessel which is intended to perform certain well defined tasks. Its size, deck-layout, carrying capacity and equipment are all related to its function in carrying out its planned operations. Therefore the process of fishing boat design is inherently combined with optimization of the design variables called the economic optimization criteria. Optimization then is a process in which minimum value of weight or cost is established through evaluation of consecutive designs in which one or more design parameters are varied. This paper is to study the basic-design of Stow-net fishing vessel in the Mok-Po region. The main task is developed the preliminary design model of engineering economic system in order to use optimization techniques from operation research the design problem needs to be expressed in terms of objective function and numerous constrains like : speed, fish hold capacity, fishing range, displacement and weight, ratio of main dimensions, etc. The objective function represents the criterion which is NPV such as the ratio of revene/cost. When using computers of limited capacity like P/C, the developed basic-design model of the economic optimization procedure must be simplified to V, Cb, L/B, Dv, Db and less than 15 constraint equations. The main conclusions of this study have attempted to show that economic considerations are essential in Stow-net fishing vessel basic design and operations, and that techno-economic evaluation is an important tool for the design of Stow-net fishing vessel in 69ton and 79ton.

• Applied Chemistry for Engineering
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• v.27 no.2
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• pp.171-178
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• 2016

Extensive efforts from all over the world have been made to solve energy problems, such as high oil prices, global warning due to the depletion of oil. Among them, biofuel has been drawing attention as a clean energy, which can replace fossil fuels. However, conventional biofuels were often converted from eatable biomass such as sugar cane, corn and soy which should be replaced with uneatable biomass. In this study, a techno-economical evaluation of the gasification of biomass waste with mixed alcohol synthesis process was performed. Considering available domestic biomass wastes, a 2000 ton/day conversion plant were assumed to produce 533000 L/day ethanol. Also, financial data from previous studies were evaluated and used and economical sensitivities with various operation conditions were established. Economic analysis were conducted by the payback period and internal rate of return (IRR) and net present value (NPV). Sensitivity analyses of raw material costs, initial investment, the major process cost, ethanol price changes and operating costs were all performed.

• Journal of the Economic Geographical Society of Korea
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• v.12 no.1
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• pp.19-37
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• 2009

The techno-park built-up project of Korea had begun in order to support regional enterprises since 1997. The number of techno-parks increased from 6 in 1997 to 17 in 2009 with various enterprise supporting services such as a new enterprise breeding, pilot production, and education and training. By way of renewing regional innovation promoting system, revising technopark law, and starting second step techno-park project, techno-parks have become centers for regional technology innovation, and cultivation of regional technology-based companies. Alternative policies for the development of techno-park projects are as follows: revitalizing the network among enterprises, universities, research institutes, and government; strengthening the ability to draw up projects in nurturing regional industry; and the establishment of fixed channels to support SME in the region.

• Advances in nano research
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• v.16 no.3
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• pp.303-311
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• 2024

This paper conducts a thorough economic evaluation of integrating nanoparticles into concrete structures within the construction industry, aiming to elevate the material properties of concrete. Employing the Halpin-Tsai micromechanics theory for deriving the effective material properties of the nanocomposite concrete structure, the research investigates the nuanced impact of nanoparticles on various mechanical properties, including the modulus of elasticity, compressive strength, and their indirect effects on the percentage of reinforcement. Implementing the Euler theory to formulate the governing equation based on Hamilton's principle, the study delves into the pricing dynamics of nanoparticles and their influence on the overall cost structure of concrete structures. Notably, the findings reveal that a measured increase in the volume percentage of nanoparticles, up to 1%, results in a remarkable 78% improvement in elastic modulus and a substantial 142% reduction in armature percentage. Remarkably, from an economic perspective, the incremental cost associated with the integration of nanoparticles is relatively modest (around $1 per ton of concrete), considering the substantial enhancements in mechanical properties achieved.

• IE interfaces
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• v.20 no.3
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• pp.387-394
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• 2007

Numerous countries promote business programs to revitalize local economy, increase employment, and nurture high-tech industries. Recently, a number of business incubators have been established and operated with aims to adapt to changing environment and increase economic competitiveness in Korea. To give satisfactory results of governmental policy, the requirement to develop the evaluation model to support effective operations of business incubators using the objective and rational criteria is growing. The purpose of this study is to develop evaluation model in Business Incubator using Data Mining Process. We suggested the evaluation model of business incubator, 'Score-5 RS' consists of making evaluation factor process using weighted sum and 5-grade classification and analyzing process by Decision Tree algorithm.