• 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.

• New & Renewable Energy
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• v.8 no.4
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• pp.21-29
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• 2012

The extensible supply of New & Renewable energy resources desperately needs to counter the high dependence on imported energy, recent high oil prices and the Climate Change Conference, and the government has operated the 'Renewable Portfolio Standard' (RPS) as one of the renewable energy policy from 2012. By analyzing the operation case of combined heat and power plant using the woodchip biomass, we drew the price of wood chip fuel, plant capacity factor, electricity selling price, heat selling price and LCOE value. After analyzing the economic feasibility of 3MWe combined heat and power plant based on the operating performance, the minimum of economic feasibility has appeared to be secured according to the internal rate of return (IRR) is 6.34% and the net present value (NPV) is 3.6 billion won as of 20 years life time after installation, and after analyzing the cases of the economic feasibility of the price of wood chip, plant capacity factor, electricity and heat selling price are changed, the economic feasibility is valuable when the price of wood chip is over 64,000 won/ton, NPV is minus, and the capacity factor is above 46.9%, the electricity selling price is 116 won/kWh and the heat selling price is above 75,600 won/Gcal. When going over the new installation hereafter, we need the detailed review of the woodchip storage and woodchip feeding system rather than the steam-turbine and boiler which have been inspected many times, the reason why is it's hard to secure the suitable quality (constant size) of woodchip by the lack of understanding about it as a fuel because of the domestic poor condition and the calorific value of woodchip is seriously volatile compared with other fuels.

• Korean System Dynamics Review
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• v.12 no.1
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• pp.59-74
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• 2011

This article deals with an economic evalutation of the 'Pasture Project of Kum River', which is the farming plan of mitten crabs in a stream of it. An augmented model of social capital is based on the past ecological-economic system dynamics model and elaborated further with suggestions of social capital literature. During the modeling process a chain diagram of causal relations and its relevant mathematical equations are presented for simulating the project performance, and the simulation results are provided to contrast the dynamic behaviors of the former ecological-economic model with ones of the new model incorporating social capital. The results indicate that an increase in the economic benefit of the project could happen in case of considering the process of social capital accumulation around the case area, which can be regarded as a remarkable trial to approve the common confidence in the role of social capital to enhance an economic achievement.

• New & Renewable Energy
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• v.10 no.2
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• pp.40-47
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• 2014

This study is intended to analyze the appropriate scope for 9.9MW biomass cogeneration, feasibility and sensitivity according to changing market situation. In the study, the heat load is classified into three types to predict heat sales and find out the appropriate scope of thermal business that is operated in CHP 34.42 Gcal/h, PLBwg 70 Gcal/h of cogeneration. the feasibility is estimated based on internal rate of return (IRR) and net present value(NPV). the sensitivity is analyzed in terms of biomass fuel cost, unit price of heating cost, investment cost, SMP unit price and REC unit price.

• KSBB Journal
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• v.4 no.2
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• pp.78-86
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• 1989

The effective saccharification of cellulosic biomass to glucose is the most critical step for the conversion of renwable biomass to alternative liquid fuel. The enzymatic hydrolysis of biomass can be significantly enhanced provide the attrition milling media is added during hydrolysis. The enhancing mechanism of hydrolysis reaction in an agitated bead system was investigated. An attrition-reactor (bioattritor) which installed specially designed torque measuring apparatus was developed, and the potimal saccharification conditions of bioattritor were determined. The relationship between the power consumption required for agitation of attrition-milling media and enhanced extent of hydrolysis of biomass was compared to evaluatic economic feasibility of the process.

• Journal of Fisheries and Marine Sciences Education
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• v.28 no.3
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• pp.727-737
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• 2016

This study is aimed to analyze the economic effectiveness (direct fishing income effect) of the marine afforestation project in Gangneung region. Based on the surveyed data, the production values and costs of the marine afforestation project are estimated and compared to determine the economic validity of the marine afforestation project. Results show that the B/C ratio, as an indicator of economic evaluation, is 1.30 with an interest rate of 5.5%, indicating that the marine afforestation project in Gangneung region would be economically feasible under the current production and market conditions. However, it is expected that the economic effectiveness would be increased when considering benefits of recreational fishing and greenhouse gas reduction from the marine afforestation project.

• Korean System Dynamics Review
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• v.11 no.1
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• pp.27-57
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• 2010

This article deals with an ecological-economic analysis of the 'Pasture Project of Kum River', which is the farming plan of mitten crabs using Jichun, a stream of the River Kum where the natural propagation of mitten crabs are blocked because of the estuary dam constructed in 1990. Toward analyzing the ecological and economic effects of the crab releasing and harvesting activities in Jichun, a two-stage cohort model of population dynamics with cannibalistic behaviors and density restrictions in biomathematics is adopted, despite of the current infertility in Kum, considering the opportunity of establishing dam fishways in the near future. This study moreover presents a method of parameter estimation especially with assuming a steady state of the ecosystem, and performs various analyses such as the risk measurement of climate change and the economic value of such fishways.

• Korean Chemical Engineering Research
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• v.55 no.5
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• pp.609-617
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• 2017

Lignocellulosic biomass is a renewable resource for production of biofuels and biochemicals. Furfural (FF) is an important platform chemical catalytically derived from the hemicellulose fraction of biomass. Tetrahydrofurfuryl alcohol (THFA) is a FF derivative and can be used as an eco-friendly solvent with thermal and chemical stability. Despite large numbers of experimental studies for catalytic conversion of FF to THFA, few research have conducted on the economic feasibility for large-scale THFA production from FF. At the stage of assessment of the potential for commercialization of conversion technology, a large-scale process study is required to identify technological bottleneck and to obtain information for solving scale-up problems. In this study, process simulation and technoeconomic evaluation for catalytic conversion of FF to THFA are performed, as the following three steps: integrated process design, heat integration, and economic evaluation. First, a large-scale process including conversion and separation processes is designed based on experimental results. When the FF processing rate is 255 tonnes per day, the FF-to-THFA yields are 63.2~67.9 mol%. After heat integration, the heating requirements are reduced by 14.4~16.4%. Finally, we analyze the cost drivers and calculate minimum selling price of THFA by economic evaluation. The minimum selling price of THFA for the developed process are $2,120~2,340 per tonne, which are close to the current THFA market price.

• Korean Chemical Engineering Research
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• v.48 no.1
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• pp.39-44
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• 2010

Economic feasibility of power generation system using waste woody biomass in a circulating fluidized bed combustor has been investigated. Effects of important variables such as capital investment, cost of waste wood, certified emission reduction(CER), system marginal price(SMP) on the benefit of business have been analyzed. Internal rate of return(IRR) was predicted as 16.67%, which implicates the business is promising based on the assumptions such as SMP of 99 Won/kWh, capital cost of 10.65 billion won, and complimentary providing of waste wood. Major factors affecting the benefit of business were as follows; system marginal price, operational rate, capital investment, expenditure of waste wood, certified emission reduction. In addition, it must be necessary to consider CHP power plant providing steam as one of the means to diversify sales network, for the management of the business risk.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.56 no.4
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• pp.347-360
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• 2020

In this study, the Bayesian state-space model was used for the stock assessment of the Blackfin flounder. In addition, effective measures for the resource management were presentedwith the analysis on the effectiveness of fisheries management plans. According to the result of the analysis using the Bayesian state-space model, the main biometric value of Blackfin flounder was analyzed as 1,985 tons for maximum sustainable yield (MSY), 23,930 tons for carrying capacity (K), 0.000007765 for catchability coefficient (q) and 0.31 for intrinsic growth (r). Also the evaluation on the biological effect of TAC was done. The result showed that the Blackfin flounder biomass will be kept at 14,637 tons 20 years later given the present TAC volume of 1,761 tons. If the Blackfin flounder TAC volume is set to 1,600 tons, the amount of biomass will increase to 16,252 tons in the future. Lastly, the biological effectiveness of the policy to reduce fishing effort was assessed. The result showed that the Blackfin flounder biomass will be maintained at 13,776 tons if the current fishing efforts (currently hp) level is set and maintained. If the fishing effort is reduced by 20%, it will increase to 17,091 tons in the future. The analysis on the economic effect of TAC showed that NPV will be the lowest at 1,486,410 won in 2038, 20 years after the establishment of 2,500 tons of TAC volume. If the TAC volume is set at 2,000 tons, NPV was estimated to be the highest at 2,206,522,000 won. In addition, the analysis on the economic effect of the policy to reduce the amount of fishing effort found that NPV will be 2,235,592,000 won in 2038, 20 years after maintaining the current level of fishing effort. If the fishing effort is increased by 10%, NPV will be the highest at 2,257,575 won even thoughthe amount of biomass will be reduced.