• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.29 no.12
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• pp.663-672
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• 2017

Building information modeling (BIM) technology based on 3D modeling has been applied to the entire domestic construction industry since 2010. It can calculate quantity take-off considering construction productivity at design phase. Based on this, it is possible to improve the reliability of construction cost prediction of design phase in the process of cost estimation. However, Building Information Level (BIL) defined by Ministry of Land, Infrastructure and Transport and Public Procurement Service does not seem to offer doable environment due to the lack of detailed application items. By calculating construction cost that meets Construction Cost Estimate Accuracy by American Association of Cost Engineers (AACE) through quantity take-off and cost estimation based on 3D modeling of BIM technology, a BIL improvement proposal at design phase for Mechanical Contracts and Construction is provided here. Results showed that properties including outline and minimum specification of the main equipment, internal main piping, and internal main duct should be defined from the intermediate design phase to have reliable cost estimation.

• The Journal of Fisheries Business Administration
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• v.38 no.2
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• pp.79-101
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• 2007

The purpose of this study is to estimate the economic value of the Songieong Beach in Off-season, using a Individual Travel Cost Model(ITCM). Songieong Beach is located in Busan but far away from city. These days, however, the increased rate of traffic inflow to the Songieong beach and the five-day working week are reflected in the trend analysis. Moreover, people have changed psychological value. For that reason, visitors are on the increase on the beach in off-season. The ITCM is applied to estimate non-market value or environmental Good like a Contingent Valuation Method and Hedonic Price Model etc. The ITCM was derived from the Count Data Model(i.e. Poisson and Negative Binomial model). So this paper compares Poisson and negative binomial count data models to measure the tourism demands. The data for the study were collected from the Songjeong Beach on visitors over the a week from November 1 through November 23, 2006. Interviewers were instructed to interview only individuals. So the sample was taken in 113. A dependent variable that is defined on the non-negative integers and subject to sampling truncation is the result of a truncated count data process. This paper analyzes the effects of determinants on visitors' demand for exhibition using a class of maximum-likelihood regression estimators for count data from truncated samples, The count data and truncated models are used primarily to explain non-negative integer and truncation properties of tourist trips as suggested by the economic valuation literature. The results suggest that the truncated negative binomial model is improved overdispersion problem and more preferred than the other models in the study. This paper is not the same as the others. One thing is that Estimating Value of the Beach in off-season. The other thing is this study emphasizes in particular 'travel cost' that is not only monetary cost but also including opportunity cost of 'travel time'. According to the truncated negative binomial model, estimates the Consumer Surplus(CS) values per trip of about 199,754 Korean won and the total economic value was estimated to be 1,288,680 Korean won.

• Korean Journal of Construction Engineering and Management
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• v.9 no.6
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• pp.175-184
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• 2008

For deciding the profitability and feasibility of the construction project, the schematic estimation has to not only link the design decision-making but also estimate the cost with reliability. The prototype-based schematic estimation system was developed for easily linking with design-making and supports to evaluate the design alternatives in the design development stage but didn't consider the cost estimated by parameter and additional work items by users. This research presents the object-parameter based schematic estimation model in the design development stage that can lead to accurately estimate the cost by using historical data from the high-storied office buildings. For the development of the proposed model for schematic estimation, after analyzing and classifying the work items from the Bills of Quantities(BOQs) and drawings of historical data, this research proposed the methods of estimating cost in accordance with attributes of each work item. In addition, a case study is performed for the effectiveness as comparing the previous estimating method with the proposed model.

• Journal of Korea Water Resources Association
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• v.33 no.5
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• pp.647-658
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• 2000

The purpose of this study is to estimate the forward impact of water supply bottleneck using a supply-side input-output model. The failure cost analysed in this study can be used to estimate the values of the water supply reliability and can provide the bases of policy decision for the effective reallocation when water supply constraint will occur. So the position of water supply in the national economy is identified, and direct and indirect impacts are estimated by means of the interindustry analysis. Also the failure cost index is suggested to determine the prior order of water supply important in drought. By the way, the occurrence of drought having regional properties, the failure cost of the regional level using a national input-output table may be overestimated or underestimated. For the preceding reason, the failure cost estimated by a national input-output table is compared with and analysed to a regional input-output table for Kyung- Nam.g- Nam.

• Journal of the Korean Society of Radiology
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• v.17 no.1
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• pp.79-90
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• 2023

The study is to estimate the social costs of premature deaths due to nuclear power plant(NPP) accidents, by resorting to the contingent valuation method(CVM) which is used to estimate the value of a statistical life(VSL). The VSL estimate is about 3.55 billion won, which is multiplied by some 1.8 million premature deaths due to the accidents in world history of NPP, to get a maximum social cost of 1,952 trillion won. This estimate is equivalent to the 2022 real GDP of Korea. The annual average number of premature deaths and the resulting average social cost is 26,000 and 28 trillion won, respectively. The social cost of premature deaths due not only to accidents, but also the air pollutants from fired power plants(FPP) during 1987~2021 is estimated to be 26,919 trillion won. This is equivalent to 2021 US GDP, and is about 3,000 times higher than that for NPP of 9 trillion won. In 2021, the estimated social costs of FPP and NPP are 1,075 trillion won and 292 billion won, respectively. For South Korea, the study suggests to adapt an energy mix of increased share of electricity production for NPP relative to FPP, given that the 2050 carbon neutrality strategy of Korea is expected to lead to an increased share of renewable energy in electricity production. The study emphasizes accumulating the number of CVM-based VSL studies to ensure efficient energy policies.

• Korean small business review
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• v.40 no.3
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• pp.1-24
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• 2018

The purpose of this study is verifying with corporate financial data that the required investment amount flow shows a similar pattern as times passed, in new product development by start-up company. In the previous paper, the same authors proposed the required investment amount flow as a 'New Product Investment Curve (NPIC)'. In this study, we have studied further in various types of companies. The samples used are accounting data of 462 companies selected from 5,873 Korean companies which were finished external audit in 2015. The results of this study are as follows; The average investment period was 3 years for the listed companies, while 6 years for the unlisted companies. The investment payback period was 6 years for listed companies, while 17 years for unlisted companies. The investment payback period of the company supported by big affiliate company (We call 'greenhouse company') was 14~15 years, while 17 years for real venture companies. When we divide all companies into 4 groups in terms of R&D cost and variable cost ratio, NPIC explanatory power of 'high R&D and high variable cost ratio group (Automobile Assembly Business) is best. Among the eight investment cost indexes proposed to estimate the investment amount, the 'cash 1' (operating cash flow+fixed asset excluding land & building+intangible asset, deferred asset change)/year-end total assets) turned out to be the most effective index to estimate the investment flow patterns. The conclusion is that NPIC explanatory power is somewhat reduced when we estimate all companies together. However, if we estimate the sample companies by characteristics such as listed, unlisted, greenhouse, and venture company, the proposed NPIC was verified to be effective by showing the required investment amount pattern.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2004.04a
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• pp.413-419
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• 2004

In these days, 8,000TEU container ship service launches in shipping service at latest based on the economy of scale, unit cost related with ship operation on ocean decreases in proportion to increase of ship scale and mega ship over 10,000TEU is on planning. Most of the exiting researches have performed from the perspective of total operation cost from mega port to mega port. However, the purpose of this paper is to estimate economic efficiency by ports selected Hub port from total cost point of view, operation cost, port charge, feeder cost, etc.

• Journal of KIBIM
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• v.7 no.2
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• pp.16-24
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• 2017

It is very important to estimate accurate construction total cost needed early in the project. In the initial phase of the design, the project cost estimates are determined by total quantity from design documents and the variables that affect the calculation of the total cost of the project. In order to determine accurate total construction cost, the contractor has to produce detailed quantity information based on the drawings and specifications. The process of preparing quantification and cost estimation documents is still being worked out manually, and a lot of errors have been occurred in many cases. Recent advances in information technology have led to the BIM based quantity takeoff and cost estimation. However, there are some limits to the extent to which the current specifications for BoQ documents are computed from BIM model. This research analyze the current BoQ cases and analyze how to make quantity takeoff possible through BIM. The study defined five levels of quantity category that could be produced by BIM. Only about 40% or indirectly usable items can be used when information is extracted to BIM modelling. This is very insufficient to fill out the BoQ. The BoQ document structure quantity takeoff specifications should be simplified in order to BIM based cost estimation more efficiently.

• Journal of Korean Society of Steel Construction
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• v.23 no.5
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• pp.557-568
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• 2011

To effectively come up with and secure a national budget, it is very important to estimate the reasonable construction cost of each step in public construction projects. In this study, the approximate construction cost of a steel box girder bridge in the early stages of the project, on which available information is limited, was proposed using case-based reasoning. In addition, construction cost estimation models were used for existing sample design models, and the accuracy of the estimation model for the presented cost was verified. The analysis results showed that the error rate was comparatively stable. Therefore, it is expected that construction cost estimation will be effectively suggested in the country's budget preparation.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.62 no.2
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• pp.288-292
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• 2013

This paper presents the result of life-cycle cost (LCC) estimation for domestic products propulsion control system (motor block unit) of KTX-1 considering periodic maintenance. Life cycle costing is one of the most effective approaches for the cost analysis of long-life systems such as the KTX-1. Life cycle costing includes the cost of concept design, development, manufacture, operation, maintenance and disposal. To estimate LCC for domestic products motor block unit, it was analyzed physical breakdown structure (PBS) on motor unit in view of maintenance cost and unit cost etc. As a results, life cycle cost on motor block unit increased moderately expect for periodical time when major parts are replaced at the same time. hereafter this results will be reflected in the domestic products being developed.