• Journal of Korea Port Economic Association
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• v.29 no.4
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• pp.289-323
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• 2013

This study set out to estimate and compare benefits of damage in case of storm surge at the Masan Port by using two of the most representative methodologies used to estimate benefits in port disaster prevention facility construction, namely CVM(contingent valuation method), which estimates the values of non-market goods, and MD-FDA(multi-dimensional flood damage analysis), which had usually been implemented in flood or dam projects. The benefit estimation for 30 years of costs was 2.5689 trillion won for CVM and 2.9596 trillion won for MD-FDA, which indicates that there was no big difference in benefits among disaster prevention facilities. However, in-depth testing should follow to figure out whether MD-FDA can replace CVM, which has been tested with non-market goods, when estimating the benefits of disaster prevention facilities based on those findings.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.3
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• pp.2249-2254
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• 2015

Currently, green house gas(GHG) emissions in korea is aiming for a 30% reduction that it is compared to BAU by 2020. To this end, the government has proceed to a variety of reduction policies in GHG. In particular, GHG reduction effect in the public buildings is being a active discussion. It needs to reduce GHG for energy efficiency improvements in the way that public buildings are operated and maintained by public taxes. In this background, the purpose of this paper is to study environmental values judgement for non-market goods in the residents who use public buildings. The results of study are as follows; Respond to first suggested price was found the higher in price, the lower in willingness to pay(WTP). The result of second suggested price was as the same. Analysis of DBDC CVM revealed that income level shows a positive impact on WTP, but the other variables are irrelevant to WTP. Therefore, the citizen participation of the local population seems absolutely necessary to more effective GHG reduction of public sector in the future.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.11 no.2
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• pp.67-76
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• 2012

In this study, we established objective appraisal standard by applying newly made appraisal standard to those areas equipped with the protection system targeted to the Mobility handicapped announced in this edition (issue 5, volume 9(Oct., 2010)) beyond simple evaluation related to protector satisfaction. Additionally, we achieved efficient budget execution by conducting the preliminary estimation assessment regarding those areas on which recognition devices should be newly deployed. Through the assessment of the system coordination, the maximum safety distance is proved to be 72.2m. On the basis of this result, we applied dangerous grade to the deployment of recognition devices considering both psychological and accidental risk. With this, we proposed valuation basis to enable us to do future business. Based on this assessment standard, the degree of risk is proved to decrease by 35.2% compared to before conducting the demonstration project in terms of evaluation of comprehensive risk regarding intended areas. Additionally, we confirmed the fact that the degree of risk can decrease by 33.1% totally after having recognition devices built according to the deployment standard within budget. Furthermore, comprehensive risk can decrease up to 94% compared to the level of the demonstration project even though we spend 21.9% less of the existing budget. Hence, we can say that the deployment method of recognition devices related to the degree of risk is applied efficiently in the near future in terms of controlling comprehensive risk and cutting down budget through this study.

• Economic and Environmental Geology
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• v.39 no.5 s.180
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• pp.615-626
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• 2006

The natural resources and material life-cycle include all human activities related to resources and material extraction, transportation, processing, use, recovery and disposal. Sustainable material management (SMM) is an integrated set of policy approaches targeted on economic agents throughout the material life-cycles and designed to result in economically efficient and environmentally effective material use. The material flows of industrial mineral, ores and fossil fuels have also long been a focal area for environmental policies because of the high environmental pressures associated with extraction, processing, consumption, and final disposal of these materials. OECD work on material flow is to improve the quantitative and analytical knowledge bases about natural resource and material flows within and among countries, so as to better understand the importance of material resources in member countries' economies. In several EU Member States, material flow accounts are part of official statistics. Material flow analysis (MFA) is a valuation method which assesses the efficiency of use of materials using information from material flow accounting. Material flow analysis helps to identify waste of natural resources and other materials in the economy which would otherwise go unnoticed in conventional economic monitoring systems. Resource use and resource efficiency has emerged as a major issue for long-term sustainability and environmental policy.

• Information Systems Review
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• v.12 no.2
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• pp.189-203
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• 2010

Is presenting guidance of information performance measurement as government PRM version 2.0 these common reference models in public sector. Government PRM is consisted of assessment classification system and standard line of sight and performance management standard form. Through this, is sorting performance element and define cause-and effect. Government PRM is supplying measurement categories at assessment classification system, but relative importance for application standard by measurement categories is not presenting. In this study, importance for government PRM's measurement categories been applying by commonness Test of information performance measurement of public sector wishes to deduce estimation and priority. Research model used Fuzzy QFD, and designed so that can reflect well PRM's development purpose. I applied Fuzzy AHP and FPP method that graft together fuzzy theory to minimize uncertainty and ambiguity in that expert opinion. Is drawn to element that "Standard model offer for information department and management" is the most important in government PRM's development purpose. "Quality of service" is showing the highest priority in customer results in measurement category. Importance for government PRM's measurement categories can offer common valuation basis in government and public institution. Hereafter if examine closely quantitative cause-and effect for structure model of measurement classification system when study government PRM more objective and efficient reference model become.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.14 no.11
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• pp.5465-5475
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• 2013

In this study, when to invest in real estate abroad, to present a real option in the way of decision-making. Thus, by using the binomial option model of one of the real thing and DCF, we compared the choice of real estate investment in China and South Korea. Research concerns the real estate market of Shanghai and Seoul, Analyzed the data between 2001-2009. Results were calculated NPV investment period (Net Present Value), Seoul appears in 435.44, Shanghai was 398.26. Investment decision by NPV method will select Seoul. However, as a result of calculating the value using the real option, it was found that for Seoul appear in 615.4, Shanghai has been shown to 626.1, and is suitable for investment in Shanghai. Assuming on the basis of this, that it has invested in practice, and compare the results, Seoul is intended for since 2010, real estate prices fell to 2013 currently, damage has occurred, profit's occurred Shanghai. This ensures that when making decisions in real estate investment and to use the real option than the existing DCF is appropriate.

• Environmental and Resource Economics Review
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• v.14 no.1
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• pp.25-50
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• 2005

This study estimates the willingness-to-pay (WTP) for avoiding the destruction of a first-grade ecological area by means of contingent valuation method. Specifically, we employ the dichotomous choice technique along with the follow-up questionnaires. Our analysis implies the yearly WTP per household for avoiding the destruction of the ecological area of 100,000 pyongs is 8,898 won with the 95% confidence interval of 6,611~11,976 won. We estimate the asset value of that area to be 1,707 billion won with the 95% confidence interval of 1,269 to 2,298 billion won. We also decompose the total value of the area into the value of direct (22%) and indirect (38.8%) use, the option value (19.9%) and the conservation value (21.3%). Although using these data for SEEA (the system of integrated environmental economic accounting) is bound by certain restrictions, one could employ our empirical findings as advisory information for decision making in the process of prior environmental review or for assessing the environmental impact.

• Journal of The Korean Society of Grassland and Forage Science
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• v.35 no.4
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• pp.303-308
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• 2015

Cultivating genetically modified (GM) crops is believed to be a practical solution to meet the increasing food demand, but GM crops are not legal in Korea mainly due to food safety issues. Even though the general public might not be ready to consume GM food, GM crops are imported and consumed as food and feed. To analyze farmers's willingness to grow GM crops for feed, a survey was conducted among crop farmers and 640 valid responses were collected by mail. In the questionnaire, the farmers were asked to select either 'yes' or 'no' if they were willing or not willing to cultivate GM rice and GM grass, respectively, under the given hypothetical income increase rate (i.e., 10%, 20%, 30%, 40%, 50%, 60%, or 70%). Logit regression was used to estimate the two dichotomous choices by explanatory variables including hypothetical income increase rate. The results show that farmers are willing to cultivate GM rice and grass when their income is expected to increase by 47% and 43%, respectively.

• Journal of Wetlands Research
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• v.16 no.4
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• pp.463-476
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• 2014

The riverine wetlands located in the riverside bring about social conflicts through confrontation between flood control value through flood control project and ecological preservation value of riverine wetland. In this study, we identified the importance of both values through analysis of economic feasibility of flood control and ecological values of riverine wetland, and tried to suggest management plans for riverine wetland considering both of flood control safety and ecological preservation through these results. For this, we calculated the expected annual flood damage of Imjin River using the multi-dimensional flood damage analysis(MD-FDA), and calculated the total value of riverine wetland using the contingent valuation method(CVM) to estimate preservation value of riverine wetland. The result of the analysis shows that the Imjin River needs flood control project and the ecological preservation of riverine wetland is also important. Therefore, the establishment of the management plan for protecting riverine wetland is also needed. As a result, the Imjin riverine wetland was classified as the area where sedimentation continues to take place, and the flood water level to rise. On the basis of the analyzed results, it is judged that the Imjin River needs flood control for public safety and ecological consideration for ecosystem preservation in the river improvement project. So, the stepwise river improvement is desirable to protect riverine wetland and minimize ecosystem disturbance. The results is expected to be made good use as the basic study for establishment of institutional river management plans considering flood control project and riverine wetland preservation in the future.

• Economic and Environmental Geology
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• v.42 no.2
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• pp.133-141
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• 2009

For economic impact analysis on a R&D project of high-yield groundwater development in Jeju conducted by KIGAM from 2004 to 2007, benefit/cost ratio(BCR), net present value(NPV), and internal rate of return(IRR) were calculated by contingent valuation method(CVM), production function analysis, domestic water market analysis and technology factor analysis. Measurable direct impact parameters among the major outputs of this R&D project consisted the estimation 4 high-yield and high mineral groundwater reserve in Jeju. Annual use of the reserve by piped water and bottled water was estimated as 12.23 million ton and its monetary value was calculated as 293.4 million dollar in 2006 year value applied of 5.5% discount rate. Economic impact of this R&D project in NPV of year 2006, with applying a discount rate of 5.5%, was identified and estimated as 13.66 million dollar in NPV, 4.05 points in BCR, and 22.74% in IRR, respectively. Additional early launch benefit was 5.58 million dollar. Even increased of the 1% discount rate, NPV of this R&D project was also positive as 12.18 million dollar and BCR was 3.71.