• Proceedings of the KIEE Conference
• /
• 1998.07b
• /
• pp.760-762
• /
• 1998

Due to the reinforcement of government's DSM(Demand Side Management) policy. Solid State Meter was introduced in Korea since 1993 and it is applied to the high voltage customer exceeding 100kW in order to equalize daily load curve. In recent days, KEPCO has a Plan to use the Solid State Meter which has a data recording and remote meter-reading function for low voltage customer to introduce the real-time pricing system and reduce peak power in the near future. So, this paper suggests the specification and function of Solid State Meter.

• Journal of the Korea Safety Management & Science
• /
• v.3 no.4
• /
• pp.135-144
• /
• 2001

The capital cost of the company is one that must be paid to the money owner as the price by using the money. The capital cost according to the source of money supply can be estimated by the expected profit rate undertaken by the use of the capital. But in the area of pre-existent economic evaluation, the evaluation of the company investment has been treated by the profit rate of the capital after considering the repayment conditions of the other's money or the interest. Thus in this study, in case the company makes an investment on various kinds of the capital at the same time, not make use of the capital as a one source, the economic evaluation of an investment should be handled by taking the weighted average cost of capital into consideration in proportion to the constitution of the capital cost by the sources of money supply, Especially, as the cost of the private money is very much connected with the profit rate through the stock market, the Capital Asset Pricing Model (CAPM) will be applied. This kind of economic evaluation method can be said to have much to do with the Economic Value Added : EVA) as well as to be highly thought as a standard to estimate the company' value recently To certify the usefulness of this approach, the case study of the output of the capital cost will be made for the purse of the economic evaluation of the alternative investment by using the financial statements of a motor company H.

• Industrial Engineering and Management Systems
• /
• v.13 no.2
• /
• pp.172-184
• /
• 2014

Economic growth with rising household income has put more vehicles on the roads worsening traffic congestion, road accidents, and air and noise pollution. This situation is further aggravated by the potential working population who choose to drive to work instead of taking public transportation. Public bus transport (PBT) plays an important role in alleviating these problems. PBT is underutilized in Malaysia, and there is an opportunity to increase ridership without substantial investment. Therefore, this study was conducted to investigate the factors that influence the use of PBT in Malaysia. The data were collected using structured questionnaires from 400 respondents. The results of the analysis show that the twin factors consisting of perceived satisfaction of and perceived importance by users towards safety and comfort of facilities and services offered by PBT are significantly related to intention to use those services. The satisfaction of availability of season tickets, the importance of reliability of bus schedule and time table, and the importance of ticket pricing are also significant. By providing insights for both public bus operators and the government, this paper contributes to mitigate the underutilization of PBT in Malaysia and the consequences of putting more vehicles on the roads. From the theory perspective, this paper also contributes by extending the theory of reasoned-action to transportation studies.

• The Journal of Korean Institute of Communications and Information Sciences
• /
• v.26 no.7A
• /
• pp.1275-1283
• /
• 2001

The purpose of this paper is to test whether prices of mobile communication service reflect their varying degrees of call quality, controlling for other service attributes. As, in fact, service is intangible goods difficult to measure its value, this paper makes use of econometric model, hedonic price analysis. Hedonic price analysis, has ever been applied in public or environmental economics, is employed and produces estimates of the prices (or the contributions toward the total price) for each characteristic. This paper applied hedonic technique to the value measurement of a service property for the use of Korean mobile communication. This paper uses actual transaction prices of mobile communication service to determine whether or not the market functions in pricing call quality of mobile communication service. Finally, this show that the willingness to pay of consumer increases as call quality increases and so market makes prices on call qualities. Thus, major concern in this paper is about value measurement o service quality, and also suggest of the possibility to determine call quality value (or price) of mobile communication service.

• Electronics and Telecommunications Trends
• /
• v.39 no.4
• /
• pp.73-81
• /
• 2024

As the demand for a healthy life increases and the use of information technology expands, interest in digital healthcare has increased. Among the digital healthcare technologies, digital therapeutics (DTx), which are capable of disease prevention, management, and treatment rather than simple healthcare, are expected to play a key role in future healthcare services. As interest in untact remote treatment that can minimize the risk of viral infection has rapidly increased since the spread of COVID-19, the application of DTx has received much attention because it can partially replace face-to-face treatment for mental illnesses, chronic diseases, and other diseases, reducing concerns about infection. In addition, because of the nature of software, DTx have lower toxicity and fewer side effects than existing treatments and do not require manufacturing, transportation, and storage like general medicines. Hence, they can be supplied in large quantities at low cost and have the advantage of lowering medical costs. However, despite these advantages, it has been pointed out that there are difficulties in investment and universal use because of the complexity of pricing and malpractice compensation. In other words, if it is difficult to prove and measure the improvements in disease management and treatment using DTx and it takes a considerable amount of time and money to do so, it will be difficult to attract investment from stakeholders such as medical providers and pharmaceutical companies. In this paper, we examine the domestic and global application status and development trends of DTx and determine the relevant implications.

• The Journal of the Korea Contents Association
• /
• v.21 no.9
• /
• pp.312-321
• /
• 2021

With the full implementation of open banking in which both banks and fintech companies participate, changes in the whole society such as new types of products, services, and businesses are taking place. Whenever new systems and environments change, research on technology acceptance by system users has been continued, and this study also verified how the characteristics of open banking affect the perceived ease of use and usefulness of the Technology Acceptance Model, and the intention to use open banking. As a result of the study, it was found that both information provision, service interactivity, and system stability had a significant effect on perceived ease of use, usefulness, and intention to use open banking. In the future, open banking may bring significant benefits to data sharing, financial access, banking infrastructure, product innovation and pricing, but it is also expected to bring unexpected damage. Therefore, domestic financial institutions should actively cope with the situation where the business environment is greatly changing due to the digital environment change, and at the same time actively foster fintech companies and promote innovation in the financial industry.

• Journal of the Korea Convergence Society
• /
• v.12 no.10
• /
• pp.9-17
• /
• 2021

With the advancement of big data analysis, artificial intelligence, machine learning, etc., data analytics technology has developed to help with optimal decision-making. However, in certain areas, the lack of data restricts the use of these techniques. For example, real estate related data often have a long release cycle because of its recent release or being a non-liquid asset. In order to overcome these limitations, we studied the scalability of the existing time series through the TimeGAN model. A total of 45 time series related to weekly real estate data were collected within the period of 2012 to 2021, and a total of 15 final time series were selected by considering the correlation between the time series. As a result of data expansion through the TimeGAN model for the 15 time series, it was found that the statistical distribution between the real data and the extended data was similar through the PCA and t-SNE visualization algorithms.

• Journal of Distribution Science
• /
• v.13 no.5
• /
• pp.71-82
• /
• 2015

Purpose - The purpose of this study is to investigate risk price implied from the pricing kernel of Korean stock distribution market. Recently, it is considered that the quantitative easing programs of major developed countries are contributing to a reduction in global uncertainty caused by the 2007~2009 financial crisis. If true, the risk premium as compensation for global systemic risk or economic uncertainty should show a decrease. We examine whether the risk price in the Korean stock distribution market has declined in recent years, and attempt to provide practical implications for investors to manage their portfolios more efficiently, as well as academic implications. Research design, data and methodology - To estimate the risk price, we adopt a non-parametric method; the minimum norm pricing kernel method under the LOP (Law of One Price) constraint. For the estimation, we use 17 industry sorted portfolios provided by the KRX (Korea Exchange). Additionally, the monthly returns of the 17 industry sorted portfolios, from July 2000 to June 2014, are utilized as data samples. We set 120 months (10 years) as the estimation window, and estimate the risk prices from July 2010 to June 2014 by month. Moreover, we analyze correlation between any of the two industry portfolios within the 17 industry portfolios to suggest further economic implications of the risk price we estimate. Results - According to our results, the risk price in the Korean stock distribution market shows a decline over the period of July 2010 to June 2014 with statistical significance. During the period of the declining risk price, the average correlation level between any of the two industry portfolios also shows a decrease, whereas the standard deviation of the average correlation shows an increase. The results imply that the amount of systematic risk in the Korea stock distribution market has decreased, whereas the amount of industry-specific risk has increased. It is one of the well known empirical results that correlation and uncertainty are positively correlated, therefore, the declining correlation may be the result of decreased global economic uncertainty. Meanwhile, less asset correlation enables investors to build portfolios with less systematic risk, therefore the investors require lower risk premiums for the efficient portfolio, resulting in the declining risk price. Conclusions - Our results may provide evidence of reduction in global systemic risk or economic uncertainty in the Korean stock distribution market. However, to defend the argument, further analysis should be done. For instance, the change of global uncertainty could be measured with funding costs in the global money market; subsequently, the relation between global uncertainty and the price of risk might be directly observable. In addition, as time goes by, observations of the risk price could be extended, enabling us to confirm the relation between the global uncertainty and the effect of quantitative easing. These topics are beyond our scope here, therefore we reserve them for future research.

• The Transactions of The Korean Institute of Electrical Engineers
• /
• v.62 no.1
• /
• pp.21-28
• /
• 2013

The paper proposes an optimal sizing method of a customer's battery energy storage system (BESS) which aims at managing the electricity demand of the customer to minimize electricity cost under the time of use(TOU) pricing. Peak load limit of the customer and charging and discharging schedules of the BESS are optimized on annual basis to minimize annual electricity cost, which consists of peak load related basic cost and actual usage cost. The optimal scheduling is used to assess the maximum cost savings for all sets of candidate capacities of BESS. An optimal size of BESS is determined from the cost saving curves via capacity of BESS. Case study uses real data from an apartment-type factory customer and shows how the proposed method can be employed to optimally design the size of BESS for customer demand management.

• East Asian Economic Review
• /
• v.24 no.1
• /
• pp.61-87
• /
• 2020

Five diffusion models are estimated using three different foreign exchange rates to find an appropriate model for each. Daily spot exchange rates expressed as the prices of 1 euro, 1 British pound and 100 Japanese yen in US dollars, respectively denoted by USD/EUR, USD/GBP, and USD/100JPY, are used. The maximum likelihood estimation method is implemented after deriving an approximate log-transition density function (log-TDF) of the diffusion processes because the true log-TDF is unknown. Of the five models, the most general model is the best fit for the USD/GBP, and USD/100JPY exchange rates, but it is not the case for the case of USD/EUR. Although we could not find any evidence of the mean-reverting property for the USD/EUR exchange rate, the USD/GBP, and USD/100JPY exchange rates show the mean-reversion behavior. Interestingly, the volatility function of the USD/EUR exchange rate is increasing in the exchange rate while the volatility functions of the USD/GBP and USD/100Yen exchange rates have a U-shape. Our results reveal that more care has to be taken when determining a diffusion model for the exchange rate. The results also imply that we may have to use a more general diffusion model than those proposed in the literature when developing economic theories for the behavior of the exchange rate and pricing foreign currency options or derivatives.