• Journal of Climate Change Research
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• v.4 no.4
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• pp.331-348
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• 2013

The frequency and intensity of abnormal climate caused by climate change is increasing in Korea. Also, the amount of damage from disaster is increasing rapidly. The research on vulnerability assessment analyzes environmentally, socially and economically vulnerable indicators and is ongoing to reduce the intensity of damage and establish adaptation policies for climate change. Therefore, in this study, we assessed vulnerability using weighting value derived by the regression equation. There are 3 evaluation items : vulnerability assessment for farmland erosion to flood, vulnerability assessment for health to heat wave, vulnerability assessment for forest fire to drought. For this study, indicators for each sectors were selected and spatial data for each sectors were established using GIS program. Results showed that vulnerability to heat wave was more affected by climate factors. On the other hand, vulnerability to flood and drought was more affected by social-economic factors. Then, to analysis efficiency of the regression analysis, vulnerability result was compared between the existing vulnerability research with no weighting applied and the vulnerability research with the influence of weighting value derived by the regression. This study showed that the regression analysis is efficient to provide practical and feasible alternatives in terms of planning climate change adaptation policies and it is expected to be utilized for vulnerability assessment in the future.

• Journal of Technology Innovation
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• v.27 no.1
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• pp.1-43
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• 2019

The significance of SMEs (small and medium-sized enterprises) is gradually highlighted as we have entered the age of "New Normal." The South Korean government support these enterprises to boost economic growth and create more jobs. It also releases numerous policies such as national R&D projects and expanding tax incentive services particularly aiming at promoting dramatic investment in R&D and technological innovation. There is a sharp contrast regarding the efficiency of direct or indirect supports for encouraging R&D investment launched by SMEs depending on researchers. However, there has been little attempt to explore the optimal combination of two policy tools. Amid promoting affiliated governmental departments in charge of SMEs policies and constantly growing R&D investment, it is an appropriate time to discuss the medium and long-term direction for the optimal policy mix of direct and indirect supports. In this study, the author obtained 32 relevant studies published earlier in the domestic journals, explored literatures more systematically, and further conducted a meta-analysis. It is dedicated to summarizing relevant controversies and organizes them empirically beyond merely verifying whether policy support stimulates private R&D investment by SMEs. The meta-analysis showed that it would be effective to support as tax for large enterprises, while subsidiary support for SMEs. However, indirect support needs to be progressively increased as direct support primarily accounts for the entire R&D support for South Korean SMEs.

• Korean Journal of Construction Engineering and Management
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• v.23 no.3
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• pp.66-73
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• 2022

In order to induce users to purchase excellent products in the water industry that satisfy the technical standards of excellent products, in this study, it is to present the advantages of the cost aspect of the pumps as the objective basis. It will be to promote technology development of domestic water companies and to create a virtuous cycle structure in the water industry. In order to present an objective basis for the merits in terms of cost, an economic evaluation was conducted through life cycle cost analysis. For the LCC analysis, initial cost (pump cost and installation cost), operation cost (energy cost and maintenance cost) and demolition cost (disposal cost and residual value) are searched and calculated. As the results of comparison on two capacity of pumps, the energy cost of the excellent pump is 212 million KRW lower than the that of general pump in the large pump. The cost of excellent pump was 17 million KRW lower than that of general pump in small capacity pump. As the results of sensibility test, if the product is developed in the direction of improving pump efficiency and increasing the replacement cycle of consumables, it is predicted that the effect on LCC will be large.

• Journal of the Korean Geosynthetics Society
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• v.22 no.4
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• pp.73-82
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• 2023

In this study, the optimal method for injection of neutralizer to restraint the leakage of acid drainage in embankment structure composed of pyrite rocks is proposed. Finite Element Analysis was performed to examine the seepage effect caused by injection of neutralizer into the embankment structure. The diameter of the neutralizer injection hole was selected as 50cm, the interval space of injection ranged from 1m to 4m and the injecting pressure ranged from 100kPa to 220 kPa were applied for the numerical analysis. According to the analysis results, the saturation time of the whole embankment structure was shown to be fast at a relatively low injecting pressure in the case of injecting interval space of 1.0m and injecting pressure of 130kPa and in the case of injecting interval space of 2.0m and injecting pressure of 160kPa. When the interval space of injection for saturation of whole embankment structure is selected as 3m, various injection pressures can be applied from 130kPa to 190kPa, and the saturation time of whole embankment is similar regardless of the injection pressure. Therefore, the optimal method for injection of neutralizer considering economic efficiency was selected as injecting interval space of 3.0m and injection pressure of 130kPa.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.14 no.12
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• pp.1102-1139
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• 2002

A review on the papers published in the Korean Journal of Air-Conditioning and Refrigerating Engineering in 2000 and 2001 has been done. Focus has been put on current status of research in the aspect of heating, cooling, ventilation, sanitation and building environment. The conclusions are as follows. (1) Most of fundamental studies on fluid flow were related with heat transportation of facilities. Drop formation and rivulet flow on solid surfaces were interesting topics related with condensation augmentation. Research on micro environment considering flow, heat, humidity was also interesting for comfortable living environment. It can be extended considering biological aspects. Development of fans and blowers of high performance and low noise were continuing topics. Well developed CFD technologies were widely applied for developing facilities and their systems. (2) Most of papers related with heat transfer analysis and heat exchanger shows dealt with convection, evaporation, and channel flow for the design application of heat exchanger. The numerical heat transfer simulation studies have been peformed and reported to show heat transfer characteristics. Experimental as well as numerical studies on heat exchanger were reported, while not many papers are available for the system analysis including heat exchanger. (3) A review of the recent studies on heat pump system shows that performance analysis and control of heat pump have been peformed by various simulations and experiments. The research papers on multi-type heat pump system increased significantly. The studies on heat pipe have been examined experimently for change of working characteristics and strut lure. Research on the phase change has been carried out steadily and operation strategies of encapsulated ice storage tank are reported experimentally in several papers. (4) A review of recent studies on refrigeration/air conditioning system have focused on the system performance and efficiency for new alternative refrigerants. Evaporation and condensation heat transfer characteristics are investigated for tube shapes and new alternative refrigerants. Studies on components of refrigeration/air conditioning system are carried to examine efficiency for various compressors and performance of new expansion devices. In addition to thermophysical properties of refrigerant mixtures, studies on new refrigerants are also carried out, however research works on two-phase flow seemed to be insufficient. (5) A review of the recent studies on absorption cooling system indicates that heat and mass transfer phenomena have been investigated to improve absorber performance. Various experimental data have been presented and several simulation models have been proposed. A review of the recent studies on duct and ventilation shows that ventilation indices have been proposed to quantify the ventilation performance in buildings and tunnels. Main efforts have been focused on the applications of ventilation effectiveness in practice, either numerically using computational fluid dynamics or experimentally using tracer gas techniques. (6) Based on a review of recent studies on indoor thermal environment and building service systems, research issues have mainly focused on many innovative ideas such as underfloor air-conditioning system, personal environmental modules, radiant floor cooling and etc. Also, the new approaches for minimizing energy consumption as well as improving indoor environmental conditions through predictive control of HVAC systems, various activities of building energy management and cost-benefit analysis for economic evaluation were highlighted.

• Economic and Environmental Geology
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• v.53 no.1
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• pp.23-32
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• 2020

Geological CO₂ sequestration is a global warming response technology to limit atmospheric emissions by injecting CO₂ captured on a large scale into deep geological formations. The presented results concern mineralogical and hydrogeological investigations (FE-SEM, XRD, XRF, and MICP) of mudstone samples from drilling cores of the Pohang basin, which is the research area for the first demonstration-scale CO₂ storage project in Korea. They aim to identify the mineral properties of the mudstone constituting the caprock and to quantitatively evaluate the hydrogeologic sealing capacity that directly affects the stability and reliability of geological CO₂ storage. Mineralogical analysis showed that the mudstone samples are mainly composed of quartz, K-feldspar, plagioclase and a small amount of pyrite, calcite, clay minerals, etc. Mercury intrusion capillary pressure analysis also showed that the samples generally had uniform particle configurations and pore distribution and there was no distinct correlation between the estimated porosity and air permeability. The allowable CO₂ column heights based on the estimated pore-entry pressures and breakthrough pressures were found to be significantly higher than the thickness of the targeting CO₂ injection layer. These results showed that the mudstone layers in the Yeongil group, Pohang basin, Korea have sufficient sealing capacity to suppress the leakage of CO₂ injected during the demonstration-scale CO₂ storage project. It should be noticed, however, that the applicability of results and analyses in this study is limited by the lack of available samples. For rigorous assessment of the sealing efficiency for geological CO₂ storage operations, significant efforts on collection and multi-aspect evaluation for core samples over entire caprock formations should be accompanied.

• Journal of Intelligence and Information Systems
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• v.28 no.1
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• pp.175-196
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• 2022

Information and communication and home appliance industries, which were one of South Korea's main industries, are gradually losing their export share as their export competitiveness is weakening. This study objectively analyzed export competitiveness and suggested export-promising countries in order to help South Korea's information communication and home appliance industries improve exports. In this study, network properties, centrality, and structural hole analysis were performed during network analysis to evaluate export competitiveness. In order to select promising export countries, we proposed a new variable that can take into account the characteristics of an already established International Trade Network (ITN), that is, the Global Value Chain (GVC), in addition to the existing economic factors. The conditional log-odds for individual links derived from the Exponential Random Graph Model (ERGM) in the analysis of the cross-border trade network were assumed as a proxy variable that can indicate the export potential. In consideration of the possibility of ERGM linkage, a parametric approach and a non-parametric approach were used to recommend export-promising countries, respectively. In the parametric method, a regression analysis model was developed to predict the export value of the information and communication and home appliance industries in South Korea by additionally considering the link-specific characteristics of the network derived from the ERGM to the existing economic factors. Also, in the non-parametric approach, an abnormality detection algorithm based on the clustering method was used, and a promising export country was proposed as a method of finding outliers that deviate from two peers. According to the research results, the structural characteristic of the export network of the industry was a network with high transferability. Also, according to the centrality analysis result, South Korea's influence on exports was weak compared to its size, and the structural hole analysis result showed that export efficiency was weak. According to the model for recommending promising exporting countries proposed by this study, in parametric analysis, Iran, Ireland, North Macedonia, Angola, and Pakistan were promising exporting countries, and in nonparametric analysis, Qatar, Luxembourg, Ireland, North Macedonia and Pakistan were analyzed as promising exporting countries. There were differences in some countries in the two models. The results of this study revealed that the export competitiveness of South Korea's information and communication and home appliance industries in GVC was not high compared to the size of exports, and thus showed that exports could be further reduced. In addition, this study is meaningful in that it proposed a method to find promising export countries by considering GVC networks with other countries as a way to increase export competitiveness. This study showed that, from a policy point of view, the international trade network of the information communication and home appliance industries has an important mutual relationship, and although transferability is high, it may not be easily expanded to a three-party relationship. In addition, it was confirmed that South Korea's export competitiveness or status was lower than the export size ranking. This paper suggested that in order to improve the low out-degree centrality, it is necessary to increase exports to Italy or Poland, which had significantly higher in-degrees. In addition, we argued that in order to improve the centrality of out-closeness, it is necessary to increase exports to countries with particularly high in-closeness. In particular, it was analyzed that Morocco, UAE, Argentina, Russia, and Canada should pay attention as export countries. This study also provided practical implications for companies expecting to expand exports. The results of this study argue that companies expecting export expansion need to pay attention to countries with a relatively high potential for export expansion compared to the existing export volume by country. In particular, for companies that export daily necessities, countries that should pay attention to the population are presented, and for companies that export high-end or durable products, countries with high GDP, or purchasing power, relatively low exports are presented. Since the process and results of this study can be easily extended and applied to other industries, it is also expected to develop services that utilize the results of this study in the public sector.

• Journal of Animal Science and Technology
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• v.47 no.5
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• pp.769-782
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• 2005

Twenty four Holstein steers fed commercial concentrates with rice straw(T1), mixed grass hay(T2), or wet brewer’s grains based TMR ad libitum(T3) were used to investigate the effects of roughage feeding type during the growing and early-fattening periods on growth performance, feed efficiency and carcass characteristics. Growth performance and feed efficiency were investigated during the feeding trial conducted from 6 to 23 mo of age, and carcass characteristics were investigated after slaughter. Body weight at slaughter and daily gains were 751 to 802 kg(mean 782 kg) and 1.064 to 1.159 kg/d(mean 1.122 kg/d), respectively, showing that those for T2 were highest followed by T3. Compared with T1, the daily gain for T2 was improved by 8.9%. The TDN intakes per kg gain were 6.87, 7.17 and 7.15 kg for T1, T3 and T2, respectively, indicating that feed efficiency for T2 was improved(approx. 5%) compared with T1. The feeding treatments did not change dressing percentage(mean 60.8%), back fat thickness(6.68 mm) and rib-eye area(84.0$cm^2$). Neither meat quality characteristics nor physicochemical properties were significantly different among the treatments. However, economic analysis accounting for 882.8, 991.7 and 943.8 thousand won per head for T1, T2 and T3, respectively, indicated that T2 and T3 increased(7-12%) total net income compared with T1. Therefore, it may be concluded that high quality meat of Holstein steers can be produced if they are fattened until 23 mo of age and that feeding mixed grass hay as roughage or TMR containing mainly wet brewer's grains during the growing and early-fattening periods can improve growth performance compared with feeding rice straw.

• Health Policy and Management
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• v.27 no.4
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• pp.273-275
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• 2017

It has been forty years since the implementation of National Health Insurance (NHI) in South Korea. Following the 1977 legislature mandating medical insurance for employees and dependents in firms with more than 500 employees, South Korea expanded its health insurance to urban residents in 1989. Resultantly, total expenses of the National Health Insurance Service (NHIS) have greatly increased from 4.5 billion won in 1977 to 50.89 trillion won in 2016. With multiple insurers merging into the NHI system in 2000, a single-payer healthcare system emerged, along with separation policy of prescribing and dispensing. Following such reform, an emerging financial crisis required injections from the National Health Promotion Fund. Forty years following the introduction of the NHI system, both praise and criticism have been drawn. In just 12 years, the NHI achieved the fastest health population coverage in the world. Current medical expenditure is not high relative to the rest of the Organization for Economic Cooperation and Development. The quality of acute care in Korea is one of the best in the world. There is no sign of delayed diagnosis and/or treatment for most diseases. However, the NHI has been under-insured, requiring high-levels of out-of-pocket money from patients and often causing catastrophic medical expenses. Furthermore, the current environmental circumstances of the NHI are threatening its sustainability. Low birth rate decline, as well as slow economic growth, will make sustainment of the current healthcare system difficult in the near future. An aging population will increase the amount of medical expenditure required, especially with the baby-boomer generation of those born between 1955 and 1965. Meanwhile, there is always the problem of unification for the Korean Peninsula, and what role the health insurance system will have to play when it occurs. In the presidential election, health insurance is a main issue; however, there is greater focus on expansion and expenditure than revenue. Many aspects of Korea's NHI system (1977) were modeled after the German (1883) and Japanese (1922) systems. Such systems were created during an era where infections disease control was most urgent and thus, in the current non-communicable disease (NCD) era, must be redesigned. The Korean system, which is already forty years old, must be redesigned completely. Although health insurance benefit expansion is necessary, financial measures, as well as moral hazard control measures, must also be considered. Ultimately, there are three aspects that we must consider when attempting redesign of the system. First, the health security system must be reformed. NHI and Medical Aid must be amalgamated into one system for increased effectiveness and efficiency of the system. Within the single insurer system of the NHI must be an internal market for maximum efficiency. The NHIS must be separated into regions so that regional organizers have greater responsibility over their actions. Although insurance must continue to be imposed nationally, risk-adjustment must be distributed regionally and assessed by different regional systems. Second, as a solution for the decreasing flow of insurance revenue, low premium level must be increased to an appropriate level. Likewise, the national reserve fund (No. 36, National Health Insurance Act) must be enlarged for re-unification preparation. Third, there must be revolutionary reform of benefit package. The current system built a focus on communicable diseases which is inappropriate in this NCD era. Medical benefits must not be one-time events but provide chronic disease management. Chronic care models, accountable care organization, patient-centered medical homes, and other systems that introduce various benefit packages for beneficiaries must be implemented. The reimbursement system of medical costs should be introduced to various systems for different types of care, as is the case with part C (Medicare Advantage Program) of America's Medicare system that substitutes part A and part B. Pay for performance must be expanded so that there is not only improvement in quality of care but also medical costs. Moreover, beneficiaries of the NHI system must be aware of the amount of their expenditure through a deductible payment system so that spending can be profiled and monitored. The Moon Jae-in Government has announced its plans to expand the NHI system; however, it is important that a discussion forum is created so that more accurate analysis of the NHI, its environments, and current status of health care system, can take place for reforming NHI.

• KDI Journal of Economic Policy
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• v.12 no.2
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• pp.95-120
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• 1990

The underpricing of new shares of a firm that are offered to the public for the first time (initial offerings) is well known and has puzzled financial economists for a long time since it seems at odds with the optimal behavior of the owners of issuing firms. Past attempts by financial economists to explain this phenomenon have not been successful in the sense that the explanations given by them are either inconsistent with the equilibrium theory or implausible. Approaches by such authors as Welch or Allen and Faulhaber are no exceptions. In this paper, we develop a signalling model of capital investment to explain the underpricing phenomenon and also analyze the efficiency of investment. The model focuses on the information asymmetry between the owners of issuing firms and general investors. We consider a firm that has been owned and operated by a single owner and that has a profitable project but has no capital to develop it. The profit from the project depends on the capital invested in the project as well as a profitability parameter. The model also assumes that the financial market is represented by a single investor who maximizes the expected wealth. The owner has superior information as to the value of the firm to investors in the sense that it knows the true value of the parameter while investors have only a probability distribution about the parameter. The owner offers the representative investor a fraction of the ownership of the firm in return for a certain amount of investment in the firm. This offer condition is equivalent to the usual offer condition consisting of the number of issues to sell and the unit price of a share. Thus, the model is a signalling game. Using Kreps' criterion as the solution concept, we obtained an essentially unique separating equilibrium offer condition. Analysis of this separating equilibrium shows that the owner of the firm with high profitability chooses an offer condition that raises an amount of capital that is short of the amount that maximizes the potential profit from the project. It also reveals that the fraction of the ownership of the firm that the representative investor receives from the owner of the highly profitable firm in return for its investment has a value that exceeds the investment. In other words, the initial offering in the model is underpriced when the profitability of the firm is high. The source of underpricing and underinvestment is the signalling activity by the owner of the highly profitable firm who attempts to convince investors that his firm has a highly profitable project by choosing an offer condition that cannot be imitated by the owner of a firm with low profitability. Thus, we obtained two main results. First, underpricing is a result of a signalling activity by the owner of a firm with high profitability when there exists information asymmetry between the owner of the issuing firm and investors. Second, such information asymmetry also leads to underinvestment in a highly profitable project. Those results clearly show the underpricing entails underinvestment and that information asymmetry leads to a social cost as well as a private cost. The above results are quite general in the sense that they are based upon a neoclassical profit function and full rationality of economic agents. We believe that the results of this paper can be used as a basis for further research on the capital investment process. For instance, one can view the results of this paper as a subgame equilibrium in a larger game in which a firm chooses among diverse ways to raise capital. In addition, the method used in this paper can be used in analyzing a wide range of problems arising from information asymmetry that the Korean financial market faces.