• Journal of Intelligence and Information Systems
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• v.23 no.2
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• pp.139-160
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• 2017

Technology commercialization creates effective economic value by linking the company's R & D processes and outputs to the market. This technology commercialization is important in that a company can retain and maintain a sustained competitive advantage. In order for a specific technology to be commercialized, it goes through the stage of technical planning, technology research and development, and commercialization. This process involves a lot of time and money. Therefore, the duration and cost of technology commercialization are important decision information for determining the market entry strategy. In addition, it is more important information for a technology investor to rationally evaluate the technology value. In this way, it is very important to scientifically estimate the duration and cost of the technology commercialization. However, research on technology commercialization is insufficient and related methodology are lacking. In this study, we propose an evaluation model that can estimate the duration and cost of R & D technology commercialization for small and medium-sized enterprises. To accomplish this, this study collected the public data of the National Science & Technology Information Service (NTIS) and the survey data provided by the Small and Medium Business Administration. Also this study will develop the estimation model of commercialization duration and cost of R&D performance on using these data based on the market approach, one of the technology valuation methods. Specifically, this study defined the process of commercialization as consisting of development planning, development progress, and commercialization. We collected the data from the NTIS database and the survey of SMEs technical statistics of the Small and Medium Business Administration. We derived the key variables such as stage-wise R&D costs and duration, the factors of the technology itself, the factors of the technology development, and the environmental factors. At first, given data, we estimates the costs and duration in each technology readiness level (basic research, applied research, development research, prototype production, commercialization), for each industry classification. Then, we developed and verified the research model of each industry classification. The results of this study can be summarized as follows. Firstly, it is reflected in the technology valuation model and can be used to estimate the objective economic value of technology. The duration and the cost from the technology development stage to the commercialization stage is a critical factor that has a great influence on the amount of money to discount the future sales from the technology. The results of this study can contribute to more reliable technology valuation because it estimates the commercialization duration and cost scientifically based on past data. Secondly, we have verified models of various fields such as statistical model and data mining model. The statistical model helps us to find the important factors to estimate the duration and cost of technology Commercialization, and the data mining model gives us the rules or algorithms to be applied to an advanced technology valuation system. Finally, this study reaffirms the importance of commercialization costs and durations, which has not been actively studied in previous studies. The results confirm the significant factors to affect the commercialization costs and duration, furthermore the factors are different depending on industry classification. Practically, the results of this study can be reflected in the technology valuation system, which can be provided by national research institutes and R & D staff to provide sophisticated technology valuation. The relevant logic or algorithm of the research result can be implemented independently so that it can be directly reflected in the system, so researchers can use it practically immediately. In conclusion, the results of this study can be a great contribution not only to the theoretical contributions but also to the practical ones.

• Journal of Software Assessment and Valuation
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• v.15 no.1
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• pp.115-121
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• 2019

I analyzed the structure of a block-chain system and a block-chain-based service system. It is a decentralized book encryption system software technology that does not require a third party to secure trust between the two parties. Block chains are structured in a linked list structure. The block chain manage transaction information by blocking the transaction information, in conjunction with other blocks. As a result, I have discovered structural weaknesses in current block-chain systems and block-chain-based service systems. Once these possible structural problems are resolved, I expect that the block-chain-based service system will make various industrial contributions.

• The Journal of Korean Medicine
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• v.29 no.1
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• pp.15-24
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• 2008

Objectives : The purpose of this study is to reexamine current oriental medical treatment fees based on valuation of input resources which are the treating time, the treatment's difficulty, and the material cost. Methods : This study obtained the following results by reviewing the answers given by 172 oriental medical doctors from March 1 to April 15, 2006. To investigate material cost, we took inventory of treatment materials used by 2 oriental hospitals. Results : The current system does not reflect well enough the treating time and treatment's difficulty. Considering current oriental treatment fees, material costs are too much of doctors' fees. Especially, Wang-ssuk-dduem, which is another form of moxibustion treatment, was spent as much as 74.6% on materials cost. Conclusions : The findings suggest the current oriental treatment fees should be revised to reflect the actual input resources into oriental medical doctor activities and to avoid a distortion of physicians' behavior.

• Journal of Korean Institute of Industrial Engineers
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• v.41 no.2
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• pp.150-161
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• 2015

This paper proposes a new approach to technology valuation, the market-replacement cost approach which integrates the cost-based approach and market-based approach. The proposed approach estimates the market-replacement cost of a target technology using R&D costs of similar R&D projects previously conducted. Similar R&D projects are extracted from project database based on document similarity between project proposals and technology description of the target technology. R&D costs of similar R&D projects are adjusted by mirroring the rate of technological obsolescence and inflation. Market-replacement cost of the technology is then derived by calculating the weighted average of adjusted costs and similarity values of similar R&D projects. A case of "Prevention method and system for the diffusion of mobile malicious code" is presented to illustrate the proposed approach.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.46 no.3
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• pp.265-275
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• 2010

The main purpose of this study is to estimate willingness to pay (WTP) by the general publics, assuming that they pay tax or charge for protecting marine living resources and environment through developing and supplying biodegradable fishing nets. This study employed a contingent valuation method (CVM) which is an econometric method. The survey was conducted by using both double-bounded dichotomous choice and open-ended survey. Tobit model was used for the analysis. The variables included concerns about marine environment and fishing net discarded, sex, age profile, number of family members, educational level and personal disposable income. Annual average WTP per family for the biodegradable fishing net development and supply was estimated at 5,294 won and national WTP amounted to some 84.2 billion won. This includes both of use and non-use value of biodegradable fishing nets.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.11
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• pp.155-167
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• 2016

Technology valuation is necessary for determining the feasibility of technology commercialization. However, existing methods focus only on technology evaluation, with limitation in sufficiently reflecting buyer viewpoint. In addition, it causes a gap between estimated value and market value. Therefore, this research suggests a new technology valuation method which focuses on the perspectives of buyers. Technology factors, buyer factors and market factors are first determined and their relationships are analyzed. Second, based on the relationships, profit projections are calculated using the discount cash flow method. Finally, profit projections for each year are discounted. The proposed method was applied using the ubiquitous home network system and audio service and illumination control method and results compared with the value of a technology valuation guide distributed by the Ministry of Trade, Industry and Energy. The technology valuation approach used in this research is quantitative and systematic and can be used as a decision making support tool in technology transfer, reflecting various perspectives of stakeholders.

• International Journal of Highway Engineering
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• v.18 no.5
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• pp.75-82
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• 2016

PURPOSES : This study was initiated to estimate the benefits from the campaign to prevent drowsy driving crashes on expressways. The study was conducted by the Korea Expressway Corporation using a contingent valuation method. METHODS : First, a questionnaire was designed for a preliminary survey. From the survey's results, the initial willingness to pay for the campaign was determined by averaging different amounts of payments chosen under virtual scenarios in the survey. The willingness to pay data was used to find a first bid price for the open-ended method used for the second survey. After that, a primary questionnaire was designed and conducted using a single dichotomous choice question (SDBCQ). Drivers at expressway resting areas were asked their willingness to pay for the campaign. Based on statistical analysis using data collected from the second survey, the mean willingness to pay was estimated using a probability utility function. Finally, the benefit from the campaign was calculated using the estimated willingness to pay and accident data on expressways. CONCLUSIONS : Based on the result from the contingent valuation method, the benefit from the campaign to prevent drowsy driving crashes was estimated to be 170.6 won per expressway trip. The benefit is to be paid as an additional toll. In addition, the traffic crash cost estimate is about 2,209,680,000 won less than the cost during the same period in 2014.

• Journal of the Korea institute for structural maintenance and inspection
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• v.27 no.5
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• pp.57-66
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• 2023

Asset valuation of social infrastructure is essential for rational decision-making for efficient management of assets. In addition, it can be an indicator for correctly recognizing assets. In general, Korea applies depreciated replacement cost based on the straight-line method to evaluate asset value, yet this is unsuitable for evaluating actual value because it is depreciated at a constant rate over the useful life period. In order to evaluate the asset value considering the performance of the bridge, the performance index of the bridge is estimated using the Weibull distribution. Using the estimated performance indicators and defect index, a new asset value evaluation method is proposed and compared and analyzed with the existing method. The proposed valuation method can take into account the performance of the bridge, so it is judged to be more objective and reasonable than existing method.

• Environmental Analysis Health and Toxicology
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• v.30 no.sup
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• pp.5.1-5.5
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• 2015

Objectives To protect public health from risk, the Minister of Environment in Korea legislated an act concerning the registration and evaluation of chemical substances. In this study, we estimated the value of a statistical life (VSL) of carcinogenic chemicals to evaluate the socioeconomic analysis in Korea. Methods The estimation of the health benefit can be calculated through an individual's VSL and willingness to pay (WTP). To estimate the VSL and WTP, we used a contingent valuation method through a web-based survey. Results The survey is conducted with 1434 people living in Seoul and six large cities. An analysis of the survey is essential to review the distribution of the characteristics of the target population. The statistically significant variables affecting the WTP are location, age, household income, quality of life. Through the review of data, we secured statistical validity. The WTP was estimated as 41205 Korean won (KRW)/person, and the estimated VSL appeared as 796 million KRW/person. Conclusions There is a case in which the amount of statistical life value is estimated in connection with domestic environmental policy, fine dust, etc. However, there are no cases of evaluation for chemical. The utilization of this result is possible for conducting other study with chemicals.

• Journal of Software Assessment and Valuation
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• v.16 no.2
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• pp.63-68
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• 2020

This paper proposes a face authentication system based on deep learning framework. The proposed system is consisted of face region detection and feature extraction using deep learning algorithm, and performed the face authentication using joint-bayesian matrix learning algorithm. The performance of proposed paper is evaluated by various face database , and the face image of one person consists of 2 images. The face authentication algorithm was performed by measuring similarity by applying 2048 dimension characteristic and combined Bayesian algorithm through Deep Neural network and calculating the same error rate that failed face certification. The result of proposed paper shows that the proposed system using deep learning and joint bayesian algorithms showed the equal error rate of 1.2%, and have a good performance compared to previous approach.