• Journal of Korean Institute of Industrial Engineers
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• v.13 no.2
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• pp.117-128
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• 1987

A major problem in the adoption of advanced manufacturing systems such as F.M.S. (Flexible Manufacturing Systems) is the prerequisite economic justification process because of high investment needed for the acquisition and installation of F.M.S. While some of the benefits expected are readily quantifiable, others are very difficult or even impossible, using conventional method. Thus the investment in F.M.S. should be considered as a strategic decision rather than a tactical decision which concerns with only financial implications. In this paper we review papers on major justification techniques developed during thelast decade and identify the benefits of F.M.S. and describe the considerations in the justification of F.M.S. Also, we deal with the current and future research directions in justifying F.M.S.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.22 no.52
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• pp.311-322
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• 1999

Major problems involved in an electrical utility expansion planning within a time horizon are how to efficiently deal with objectives considering multiple factors and uncertainty. But justification factors in study these days have considered only quantitative factors except qualitative factors. Therefore, the purpose of this paper is to develop a new model for economic evaluation of nuclear power plants through the scoring model with the quantitative and qualitative factors under uncertainty. The quantitative factors use a levelized generation cost method considering time value of money. Especially, the environmental, risk, and safety factors in this paper have been also explained for the rational economic justification of the qualitative factors under uncertainty. This paper not only proposes a new approach method using the scoring model in evaluating economy of the nuclear power plant in the long term, but also provides the more efficient decision making criterion for nuclear power plants under uncertainty.

• The Journal of Fisheries Business Administration
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• v.50 no.3
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• pp.73-86
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• 2019

The purpose of this study is to provide logical and policy justification for the feasibility and sustainability of the project through analysis of economic ripple effects of the fishing village new deal 300 project. To do this, we applied the industry-related analysis, which is mainly used to analyze the economic ripple effects, to the fishing village new deal 300 project. The industry association analysis classifies the detailed project of the preliminary plan for the selection of the business into the software business such as the hardware business and the capacity enhancement in the construction field and analyzes the economic ripple effect through the inter-industry association. As a result, it is expected that the fishing village new deal 300 project will have a positive economic impact. When the total investment of 3 trillion won is invested in the project, it is estimated that the production inducement effect and the value added effect are 5,545.3 billion won and 2,102.7 billion won, respectively. In addition, 62,005 get job inducements, where 10,952 employment inducements were associated with job creation. The analysis of the above impacts seems to have secured the logical justification for the implementation of the fishing village new deal 300 project.

• IE interfaces
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• v.1 no.2
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• pp.1-12
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• 1988

A justification methodology which evaluates the tactical aspects of an FMS project is proposed. For evaluation of quantifiable tactical costs/savings a method of internal rate of return on incremental investment is developed while for the tactical ones which are difficult to quantify a weighted factor scoring model is proposed.

• Journal of the Korea Society of Computer and Information
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• v.10 no.6 s.38
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• pp.269-278
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• 2005

To justify the economic impacts of the internet access management is a purpose of this paper. Previous researches on economic justification were reviewed and the internet access management system. sniffer, and firewall were implemented to monitor real-time sessions and to record blocked attempts. This paper suggests the impact factors and measurement methods to justify the economic values of the internet access management system. Finally, this paper Proves that the overall impacts of the internet access management system have a Positive value because filtering mechanisms cause users to lose a small number of URLs including useful information and to diminish refreshment but save users from various risk points and enhance labor productivity.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 1991.10a
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• pp.367-368
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• 1991

• East Asian Journal of Business Economics (EAJBE)
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• v.12 no.2
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• pp.29-34
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• 2024

Purpose: The primary objective of this study was to examine the influence of economic democratization on economic development from diverse perspectives. Research design, Data methodology: Justification of the qualitative literature methods used in this study is essential, as extensive descriptions, justifications, and explanations of the methods used allow researchers to increase the reliability of their studies for specific or specified audiences. Initially, the concept and principal attributes of economic democratization were scrutinized, followed by an exploration of its manifold effects on economic development. Results: Consequently, this study facilitated a comprehensive comprehension of how economic democratization fosters economic growth and advancement in contemporary society. Additionally, the study deliberated on the constraints and hurdles of economic democratization, proposing policy recommendations for future mitigation. Conclusion: In conclusion, this study is anticipated to furnish foundational data for regional economic development to both academia and policymakers. It achieves this by thoroughly evaluating the impact of economic democratization on economic development and delving into the dynamic interaction between democracy and economic progress.

• Journal of the Korea Society of Computer and Information
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• v.7 no.1
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• pp.147-153
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• 2002

A major problem in the adoption of advanced manufacturing systems such as C.I.M. (Computer Integrated Manufacturing) is the prerequisite economic justification Process because of high investment needed for the acquisition and installation of C.I.M. While some of the benefits expected are readily qualifiable, others are very difficult or even impossible, using conventional method. Thus the investment in C.I.M. should be considered as a strategic decision rather than a tactical decision which concerns with only financial implications. In this Paper we review papers on major justification techniques developed during the last decade and identify the benefits of C.I.M. and describe the considerations in the justification of C.I.M. Also we deal with the current and future research directions in justifying C.I.M.

• Journal of the Korean Operations Research and Management Science Society
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• v.12 no.1
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• pp.157-157
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• 1987

Hydro-electric power generation from multi-purpose dams has been playing important roles in the electric power supply network in Korea. Although the total share of hydro power in national electricity supply now becomes very small, the peak-shaving and frequency control capability of hydro power helps the power company enormously in maintaining the quality of power. But since the company that builds and operates the multi-purpose dams in Korea has to sell all the electricity produced to the monopolistic utility, there have been various problems in justifying the investment, designing pricing mechanism, and controlling operations of the power plants. In addition, economic evaluation of the hydro power has been distorted by a variety of reasons and hence it has been very difficult to encourage effective development and utilization of national water resources. To make the problem worse, both parties are public companies with X-inefficiency problems. Thus, changing environment requires to reengineer the system that governs hydro power generation. We address the problems of Korean hydro-electric power generation system in four areas: the investment justification process, the operations decison right of the hydro power plants, the pricing of the purchased-power, and the negotiation of contract revision. Then we propose improvement directions of new hydro-electric power system in view of static and dynamic efficiency, X-inefficiency and equity.

• Korean Management Science Review
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• v.12 no.1
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• pp.157-173
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• 1995

Hydro-electric power generation from multi-purpose dams has been playing important roles in the electric power supply network in Korea. Although the total share of hydro power in national electricity supply now becomes very small, the peak-shaving and frequency control capability of hydro power helps the power company enormously in maintaining the quality of power. But since the company that builds and operates the multi-purpose dams in Korea has to sell all the electricity produced to the monopolistic utility, there have been various problems in justifying the investment, designing pricing mechanism, and controlling operations of the power plants. In addition, economic evaluation of the hydro power has been distorted by a variety of reasons and hence it has been very difficult to encourage effective development and utilization of national water resources. To make the problem worse, both parties are public companies with X-inefficiency problems. Thus, changing environment requires to reengineer the system that governs hydro power generation. We address the problems of Korean hydro-electric power generation system in four areas: the investment justification process, the operations decison right of the hydro power plants, the pricing of the purchased-power, and the negotiation of contract revision. Then we propose improvement directions of new hydro-electric power system in view of static and dynamic efficiency, X-inefficiency and equity.