• New & Renewable Energy
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• v.17 no.1
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• pp.61-75
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• 2021

Power generation using solar PV and wind power are more feasible to compete with fossil fuel power generation. However, residential acceptance is still a big challenge in the deployment of renewable energy. The Korean government has implemented various policies to support the development of renewable energy in which communities invest. However, there are very few cases of the commercial operation of community-invested renewable energy power plants. Renewable energy has attracted attention in the reduction of greenhouse gasses (GHG) effects and economic feasibility. However, it is also necessary to focus on socio-economic effects to overcome the economic recession while reducing greenhouse emissions. Community-invested renewable energy development projects can positively revitalize the local economy in many aspects, such as resident income, job creation, and the growth of local businesses. This study analyzes the local economic impact of renewable energy development projects on residents' income and job creation. It increased local companies' sales through community-invested development projects in Korea.

• Journal of Internet Computing and Services
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• v.15 no.4
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• pp.67-79
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• 2014

One of the core policies recently implemented by the Korean government is the introduction of a creative economy, a concept that integrates ICT with the existing economic structure in order to create new growth factors and jobs. In June of 2013, the National Assembly passed a bill for the institutional practice of a creative economy. The concept of a creative economy is to integrate industries centered on ICT in order to form a new-concept industry paradigm that creates new values and services that exceed past industrial categories. In other words, smart convergence, which integrates ICT with various industries, is evaluated as a core factor for boosting the creative economy. Thus, based on the definition of 'smart convergence', this study predicted the economic effects and sociocultural changes that will ensue due to the future era of smart convergence. Also, this study proposes policies for enhancing the creative economy in various ways. More specifically, in-depth interviews with convergence industry experts were carried out and quantitative analyses were performed employing a Solow Model. Furthermore, as a means to revitalize the creative economy, this study underscores the significance of the preemptive institutionalization of legislations and suggests several policy proposals regarding smart convergence rooted in market supply and the demand chain, smart convergence through selective focus, and smart work. This study is differentiated from previous studies that have only focused in establishing theories in that it offers quantitative research with a consideration of the feasibility of proposed policies. The leading experience of Korea regarding smart convergence can provide important lessons to other countries that hope to promote a creative economy as a means to create new growth factors and jobs.

• New & Renewable Energy
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• v.4 no.2
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• pp.52-60
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• 2008

More people have become interested in hybrid vehicles - which have been heralded as environmentally friendly automobiles - recently as the opening of domestic hybrid vehicle market draws near. Since gasoline, diesel and LPG hybrid vehicles will be produced, a need exists to conduct economic feasibility study of each vehicle type. This research analyzed projected benefits of these hybrid vehicles based on the 1600cc model. There are two categories of benefits: 1) reduced fuel costs for the owners of the vehicles; and 2) reduced environmental pollution cost. We conducted a sensitivity analysis and estimated the domestic consumer fuel costs based on the international oil prices of 100USD, 150USD, and 200USD per barrel. The analysis showed savings of 2 to 4 million Won in fuel cost and 1 to 2 million Won in environmental pollution cost; therefore, the hybrid vehicles are not economically feasible if they are between 3 to 5 million Won more expensive than the conventional internal combustion engine vehicles.

• Architectural research
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• v.9 no.1
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• pp.47-52
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• 2007

The purpose of this research is to evaluate the feasibility of outsourcing test/inspection activity in construction work. This research conducted a questionnaire of interested parties as well as a survey by Analytic Hierarchy Process (AHP) with experts on quality control. For the evaluation by AHP, five criteria were adopted and a number of pair-wise comparisons were conducted through two stages. Finally, the weighting coefficient to approve the outsourcing was calculated at 0.606 and it therefore appeared more reasonable to permit rather than prohibit outsourcing. According to the AHP result, it was found that outsourcing would be necessary to enhance the objectivity and specialties of quality testing and inspection, even though somewhat undesirable in terms of enhancing a sense of responsibility and systemically conducting the testing and inspection.

• Transactions of the Korean hydrogen and new energy society
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• v.28 no.1
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• pp.47-55
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• 2017

This paper deals with the after-tax economic feasibility analysis of the hydrogen fueling station considering dynamic utilization. We selected an off-site hydrogen station in which the hydrogen is supplied by a central by-product hydrogen plant as a case study. Also, we made some sensitivity analysis by changing input factors such as the discount rate, the hydrogen station construction cost, the hydrogen demand and the hydrogen sale price. As a result, the hydrogen station will not be economical in 2020 due to the relatively high price of the hydrogen station construction cost and the low price of hydrogen sale price. In order to realize the economic feasibility of the hydrogen station in the early stage of the hydrogen economy, the subsidies on the annual operating cost as well as the construction cost are needed.

• The Transactions of the Korean Institute of Power Electronics
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• v.13 no.5
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• pp.344-351
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• 2008

The benefits of utilizing energy exchange between the main land and Cheju island in Korea make it interesting to establish new HVDC sea cable interconnections. A total power of 350 MW or more can then be exchanged through the HVDC links including the existing Cheju HVDC #1 interconnection. A feasibility study base on economical benefits has been carried out. Especially the comparison of economy benefit between thermal power plant, LNG power plant and HVDC system shows that HVDC system is the only solution in Cheju island. Also, this paper shows that additiona 1 HVDC system help to enhance the stability of power system.

• Asia-Pacific Journal of Business
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• v.13 no.2
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• pp.139-154
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• 2022

Purpose - This study aims to analyzing of solar power generation cost-benefit. Design/methodology/approach - We analyzed whether there is economic feasibility by selecting parking lots and idle sites located in four areas of Seoul, Gyeonggi, Chungcheong, Jeolla, and Gyeongsang areas nationwide, and analyzing site conditions and installation capacity. Findings - According to the results of the analysis, it was found that there is low profitability in Seoul, Gyeonggi and Chungcheong regions, where the solar radiation was not excellent even if REC is selected through the contract market. However, it is necessary to analyzed the economical validity the profitable validity including environmental benefits (greenhouse gas reduction, NOx, SOx reduction effect) and social benefits (renewable power supply) that is analyzed by income and operating costs which is occurred from electricity sales and REC sales when installing solar power generation facilities. Research implications or Originality - In this study, economic feasibility was evaluated additionally in consideration of environmental and social benefits. In conclusion, it was shown that businesses are not economical when considering only simple financial aspects are also sufficiently economical when it is considering environmental and social benefits.

• Transactions of the Korean hydrogen and new energy society
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• v.33 no.4
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• pp.293-300
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• 2022

The Changwon city which announced 2040 hydrogen policy vision is planning to establish the new hydrogen-centered city. The building of plant which is available to produce the 5 ton/day of liquid hydrogen is promoted as one of the projects in order to achieve the vision. However, the analysis in terms of local economic and environmental aspects is insufficient because this liquid hydrogen plant is the first in Korea. Therefore, in this study, the financial feasibility of the liquid hydrogen plant project was analyzed by reviewing the benefits of liquid hydrogen supply and environmental improvement, and the feasibility of this project has been investigated which is being built based on the hydrogen industrial plan of Changwon city.

• Proceedings of the Korean Institute of IIIuminating and Electrical Installation Engineers Conference
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• 2009.10a
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• pp.255-258
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• 2009

This paper gives a feasibility reference of integrating power automation for digital substation. An overview and techno-economical potential of IEC61850 are introduced. The result of economic analysis is shown to save up to one-third of the total cost of automation installation. The gained benefits can be used to increase the economy and reliability of electrical power system.

• Journal of the Korean housing association
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• v.5 no.1
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• pp.71-84
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• 1994

This article tries to develop an instrument for assessing the quality of housing environment by using 67 housing environment variables. The method of factor analysis is used to explore the dimension of the quality of housing. As the result, 5 dimensions of housing environment are extracted. They are, according to the order of their importances, house structure and indoor environment, outdoor facilities and natural environment, indoor facilities and economy, public facilities and social relationship, and convenient facilities and residential feasibility.