• Journal of Korean Society of Industrial and Systems Engineering
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• v.2 no.2
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• pp.53-62
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• 1979

A widely accepted indicator of a project's economic potential is the internal rate of return (IRR). The primary objective of feasibility analysis for any project is to measure the economic potential for the project, normally defined as the expected return on capital investment. The analysis should be designed to determine whether a project is technically and economically sound, and under what conditions. Therefore, there are factors other than economic potential that must be taken into account in the reasonable composition of an investment program. These kinds of factors can be given proper consideration in project selection after the economic feasibility of alternative projects has been determined. The primary reason for having to choose among different projects is that capital resources are scare : the investment budget is limited. The case project, casting facilities investment project, treated in this paper were selected for their value in illustrating the methods of feasibility analysis. This case project an actual potential project and is analyzed on the basis of the best available data for the specific conditions for that project.

• Journal of the Korean Society of Marine Environment & Safety
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• v.20 no.3
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• pp.292-295
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• 2014

This paper proposes that the Marine Search & Rescue and Salvage Association of Korea (MARSA) can provide KCG a very positive return on investment; that is, MARSA will save lives and property well over the budget needed from KCG to operate MARSA. To perform this Cost-Benefit Analysis, actual performance data and other figures are taken from the USCG Auxiliary, and these figures are used to project expected possible MARSA results. In this paper, MARSA is projected to provide a 1,493 % return on investment.

• Korean Journal of Agricultural Science
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• v.40 no.2
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• pp.169-176
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• 2013

The price and revenue of rice are expected to decrease due to increasing rice imports, decreasing consumption and the discontinuance of the government's rice procurement. This degenerating profitability is leading to a rise in the cultivation of upland-crops such as beans, fodder crops and fruits in paddy fields. However, there is a lack of research on the selection of rice substitute crops which are adaptable to the relevant region through profitability analysis. This research, therefore, analyzed investment profitability of rice substitute crops for Cheorwon-gun area in Kangwon province. The study applied net present value (NPV) and internal rate of return (IRR), which fit for mutually exclusive investments that make one selection to the exclusion of other crops. Target crops are green house plants in Cheorwon-gun area. Financial analysis showed paprika and cucumber have investment feasibility for automated vinyl greenhouses and conventional plastic greenhouses respectively.

• Journal of electromagnetic engineering and science
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• v.12 no.2
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• pp.171-175
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• 2012

In this work, a new microstrip-to-substrate integrated waveguide (SIW) transition using the parallel half-mode substrate integrated waveguide (HMSIW) is proposed. The proposed transition consists of three sections : a microstrip, parallel HMSIWs, and an SIW. By inserting the parallel HMSIWs section between the microstrip section and the SIW section, the proposed transition can improve the return loss characteristics of the near cut-off frequency because the HMSIWs section has a lower cut-off frequency than the SIW section (8.6 GHz). The lower cut-off frequency is achieved through gradual electromagnetic field mode changes for a low reflection. The measured return loss is less than 20 dB in the of 9.1~16.28 GHz freqeuncy range for the back-to-back transition. The measured insertion loss is within 1.6 dB for the back-to-back transition. The proposed transition is expected to play an important role in wideband SIW circuits fed by a microstrip.

• Management & Information Systems Review
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• v.33 no.5
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• pp.249-260
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• 2014

This paper explores the relationship between firm-specific volatility and some firm characteristics such as size, the market-to-book ratio of equity, PER, PBR, PCR, PSR and turnover in KOSDAQ market. In addition, I investigate whether portfolios with difference to realized range-based volatility and firm-specific volatility have different investment performance using CAPM and FF-3 factor model. The main findings of this study can be summarized as follows. First, firm-specific volatility have mostly positive relationship between firm-specific volatility and some firm characteristics. Second, this study found that realized range-based volatility and firm-specific volatility are positively related to expected return. It means that portfolios with high idiosyncratic volatility have significantly higher expected return than portfolios with low firm-specific volatility.

• Journal of the Ergonomics Society of Korea
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• v.36 no.1
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• pp.9-21
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• 2017

Objective: The objective of this study is to understand the effect of angle and curvature of push-return switches, which are external factors in the operation environment inside the cars, on the feel of operation and to propose optimum alternatives. Background: Customers' needs for products are changing from functional and performance aspects to customer-led type where customers can reflect on their needs on the products. The operation inside cars is executed by HMI. The push-return switch is utilized as the most intuitive mode of HMI; therefore, this push-return switch, which is widely used, has to be developed by assessing the preference and satisfaction of the customer. Method: The angle and curvatures, which are external factors that affect the feel of operation, are drawn through surveying the preceding research literatures. The stages to construct alternatives in experiments are as follows: (1) the tactile switch is replaced after dismantling the switch assembly to evaluate the internal characteristics proposed by preceding researches, (2) a drawing is prepared by using a design software, is printed using 3D printer, and then it is attached on the switch assembly, and (3) evaluation for satisfaction of operation is carried out by using a driving simulator. Results: Both the angle and curvature that are external factors of switch significantly affect the feel of operation. However, interaction between the two factors is found insignificant. Therefore, an optimum alternative is proposed considering the experimental outcomes. Conclusion: This study evaluates the satisfaction in operation that affects the feel of operation environment inside the cars. Based on the study results, a guideline for switch design in the center fascia is proposed. Application: This study is expected to be used as basic data for designing automotive switches, as well as switches in the industries similar with the operation environments of cars.

• Journal of the Korean Operations Research and Management Science Society
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• v.38 no.4
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• pp.35-52
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• 2013

Markowitz's portfolio selection model is used to construct an optimal portfolio which has minimum variance, while satisfying a minimum required expected return. The model uses estimators based on analysis of historical data to estimate the returns, standard deviations, and correlation coefficients of individual stocks being considered for investment. However, due to the inaccuracies involved in estimations, the true optimality of a portfolio constructed using the model is questionable. To investigate the effect of estimation inaccuracy on actual portfolio performance, we study the changes in a portfolio's realized return and standard deviation as the accuracy of the estimations for each stock's return, standard deviation, and correlation coefficient is increased. Furthermore, we empirically analyze the portfolio's performance by comparing it with the performance of active mutual funds that are being traded in the Korean stock market and the KOSPI benchmark index, in terms of portfolio returns, standard deviations of returns, and Sharpe ratios. Our results suggest that, among the three input parameters, the accuracy of the estimated returns of individual stocks has the largest effect on performance, while the accuracy of the estimates of the standard deviation of each stock's returns and the correlation coefficient between different stocks have smaller effects. In addition, it is shown that even a small increase in the accuracy of the estimated return of individual stocks improves the portfolio's performance substantially, suggesting that Markowitz's model can be more effectively applied in real-life investments with just an incremental effort to increase estimation accuracy.

• Korean Journal of Agricultural Science
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• v.10 no.2
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• pp.371-381
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• 1983

This study is aimed at identifying the economic effects of drainage improvement projects. The total area of poor drainage is equivalent to 170,000ha, 13% of the total area of paddy field in Korea. The development of poor drained paddy is an urgent problem considering the low rate of self-sufficiency of food grain and the limitation of farmer's income increase. Rapid development of Korean economy has brought labor shoriage in rural farming sector. Accordingly farm mechanization is an important agricultural policy to hike labor productivity and to save production costs of rice farming. The expected economic benefits of the drainage improvement project are derived from increasing land productivity, expanding double cropped area and farming the farm mechanization base in paddy fields. The economic and financial rate of return of the project are considered very important decision making criteria for project implementation by resource allocation. Therefore this study covered benefit and cost analysis of the sampled area, the estimated financial rate of returns in $Buy{\check{o}}$ and Jinsung are represented 15% and 51% respectively and the economic rate of returns in both project area are also showing 1% and 26% respectively. The rate of return of the projects has showed an outstanding variance according to the locational and natural characteristics of the project area. As showing the above economic rate of return, $Buy{\check{o}}$ is very low Jinsung is very high. But the financial rate of return of both projects are considered comparatively high. Cosequently, the drainage improvement projects should be promoted from the view point of farm income increase to make narrow the income gap between rural and urban incomes and farm mechanization to solve labor shortage in the rural area.

• Journal of Korean Society of Coastal and Ocean Engineers
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• v.22 no.2
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• pp.120-125
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• 2010

A Monte-Carlo simulation method is proposed which can take uncertainties of scale and location parameters of Gumbel distribution into account straightforwardly in evaluating significant design wave heights with respect to return periods. The uncertainties of design wave heights may directly depend on the amounts of uncertainties of scale parameter and those distributions may be followed by Gumbel distribution. In case of that the expected values of maximum significant wave height during lifetime of structures are considered to be the design wave heights, more uncertainties are happened than in those evaluated according to return periods with encounter probability concepts. In addition, reliability analyses on the armor units are carried out to investigate into the effects of the uncertainties of design wave heights on the probability of failure. The failure probabilities of armor units to 5% damage level for 50 return periods are evaluated and compared according to the methods of taking uncertainties of design wave heights into account. It is found that the probabilities of failure may be distributed into wide ranges of bounds when the uncertainties of design wave heights are assumed to be same as those of annual maximum significant wave heights.

• Journal of the Korean Society of Marine Environment & Safety
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• v.19 no.1
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• pp.93-99
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• 2013

It is expected to continue to increase the number of people who enjoy marine and water sports due to the increase of leisure time because of income increase, the five-day workweek, etc. However, in the safety awareness, the development of equipment is just in the early stage. Established system for fundraising is required for Korean marine and water sports to be developed first. Should the fund be spent on the safety and development of domestic equipment for marine and water sports, it would make for a safer and more enjoyable sports for the people. The profit return measures of motor boat race, among marine and water sports, are surveyed and analyzed to suggest the measures stated above. Japanese legal structure and the profit return measures on motor boat race, which are about 60 years ahead than Korean systems, were analyzed and led to suggest the establishment of professional institutions which promote motor boat, etc. and the legal improvement for funding.