• Journal of Energy Engineering
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• v.5 no.1
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• pp.87-92
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• 1996

This paper formulates dynamic optimization model for Time-Of-Use Rates when a electric power system consists of three generators and a rating period is divided into three sub-periods. We use Pontryagin's Maximum Principle to derive optimal price and investment policy. Particularly the cross-price elasticities of demand are considered in the objective function. We get the following results. First, the price is equal to short-run marginal cost when the capacity is sufficient. However, if the capacity constraint is active, the capacity cost is included in the price. Therefore it is equal to the long-run marginal cost. Second, The length of rating period affects allocation of capacity cost for each price. Third, the capacity investment in dynamic optimization is proportional to the demand growth rate of electricity. However the scale of investment is affected by not only its own demand growth rate but also that of other rating period.

• Journal of Digital Convergence
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• v.11 no.12
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• pp.265-274
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• 2013

The business cycle during a recession leads to negative effects on raising funds and operations management of company. In particular, the company with many inventories in the recession causes liquidity problem. Which leads to frustration in the competitive strategy management. In this case the company experiencing cash or liquidity problems attempts to reduce its investment in inventory. However, reducing inventory investment makes problems to increase inventory operating costs. This paper presents sensitivity of total cost compared to the size for reducing inventory investment. This will guarantee the relevance of the reducing inventory investment. Optimal Inventory levels also may be required to be less than the optimal levels without reduction on inventory investments.

• KIEAE Journal
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• v.15 no.6
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• pp.57-62
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• 2015

Purpose: This study, which is based on the investment payback periods, aims to suggest the proper insulation level which can be adapted to the Defense Military Facility Criteria regarding the military residential condominiums. For the energy performance simulation, it is required to collect the residential data regarding the military condominiums and climatic data concerning the regions they belongs to. The estimates through energy performance simulation are the regional heating loads and the heating transmission coefficients of building components. Method: With the heating loads, the annual heating cost saving per square meters is assessed. With the heating transmission coefficients of building components, the additional insulation installment cost per square meters is evaluated. With two outcomes, one as an annual value and the other as a present value, the investment payback period is calculated. Result: In result, it could be concluded that 55~70% insulation ratio can lead a superior residental environments as well as be contributed to the national policy associated with zero-energy buildings because the estimated investment payback period is shorter than the life span of the military residental condominiums. This upshot can be used as a foundation to enactment the Defense Military Facility Criteria associated with military residential condominiums.

• Journal of the Korean Society of Safety
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• v.17 no.1
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• pp.87-93
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• 2002

In this thesis using FTA technique, the author proposes a new method of analysis of some accidents in construction work. Some efficient plans of safe facility investment are made out. For this study, I referred to 'The Death Accident in Construction Works', which have been published by Korea Industrial Safety Corporation from 1993 to 1999 for 6 years. I selected some of apartment constructions which have caused many deaths for the purpose of analysis in the study. I found that the concrete work using ferro-deck takes more deaths than the conventional construction. After finding this, I selected GANG FORM works using ferro-concrete which is the most widely used but causes many accidents. On the basis of the classification, I try to do some quantitative analyses by adding the death frequency and material factors. In order to draw up the most efficient investment plan, it is imperative that FT diagram be made out and that factors. In order to draw up the most efficient investment plan, it is imperative that FT diagram be made out and that minimal Cut Set be needed. It requires a great deal to labor and time to get Minimal Cut Set. The Minimal Cut Set which is formed of these process is the main factor to analyze disaster in the work. It is desirable that we add calculated percentage of accidents to these factors to these factors in value order, that is to say, from the high cost to low cost.

• The Journal of the Korea Contents Association
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• v.7 no.5
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• pp.174-183
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• 2007

Recently, the Korean Hotel market has expanded to Asia rapidly including China. However Korean hotels' competitiveness has weaken with Korean won's appreciation and increasing real estate cost. To cope with these problems, Korean hotels are varying and differentiating their services and adopting advanced information system such as ERP(Enterprise Resource Planning) System. ERP Systems requires large amount of cost and time, otherwise successful implementation is not guaranteed. Thus, It is necessary to analyze critical success factors and calculate effect before investment on the ERP system implementation. In this study, I surveyed a Five-star ranked Hotel, named R. To find a method of investment effect calculation. This research is conducted on the basis of previous studies and AHP(analytic hierarchical process), which is suggested by Saaty. Finally, This study presents a significant method of analysis and calculation on investment effect of Hotel's ERP system based on the Hotel R's case.

• Journal of the Korean Solar Energy Society
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• v.32 no.6
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• pp.60-67
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• 2012

Government Geothermal Cooling-Heating Projects has made efforts to reduce GHG(Greenhouse Gas) emissions and to manage cost of greenhouse farm households. This study evaluated the economic benefits of heating load rate of change by comparing Geothermal Cooling-Heating System with the existing system(greenhouse diesel heating) in the Government Geothermal Cooling-Heating Projects. Economic analysis results shows that, 1) When installing the Cooling-Heating system according to the ratio of 70% heating load in policy standards, the geothermal cooling-heating system has economic efficiency with greenhouse type or scale independent because the investment cost is recovered within 7 years. And It was more economic efficiency the ratio of 50% heating load than70% heating load. 2) When installing the Cooling-Heating system according to the glass greenhouse of the ratio of 90% heating load, pay period of investment cost is recovered within 5 years. Therefore it is necessary to apply flexible heating sharing according to greenhouse type or scale.

• Proceedings of the KIEE Conference
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• 2011.07a
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• pp.430-431
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• 2011

Recently the power system consists of the more complicated structure, due to increase of power demands. In this circumstance, the congestion and loss capacity in transmission line is also increased. Accordingly, the investment planning of transmission system is required to reduce the congestion and loss of the transmission line. In study of the planning of domestic and international transmission expansion, the reliability of transmission planning and minimizing Investment cost is focused. However, the study has not been performed systematically in economic aspects. Typically, the congestion and loss costs have been individually calculated. It is not consider the mutual relationship between the congestion cost and the loss cost. This paper proposes a method to compute concurrently the congestion and loss costs. This purpose is to calculate the more exact value for economic assessment of the power system operation.

• New & Renewable Energy
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• v.3 no.1 s.9
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• pp.27-37
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• 2007

This study is to analyse the feasibility for providing Co-generation plant in Apartment Complex for 4 typical Apartment Complexes located Seoul metropolitan area, The selected complexes are three midium-large size Apartment[nearby 35pyoug of floor area] and one complex of small size Apartment[below 25 pyoung of floor area] for comparison. The necessary data for the study were collected with visitation of each site. The study showed very positive result for the three medium-large size Apartment Complexes of which the average floor area is more than 25 pyoungs, while negative result for the Complex of which average floor area is less than 25 pyoungs. Other than floor size it was found that the electric consumption density also influence the economic feasibility. In study the unit fixed cost of the energy produced from Co-generation plant is one third of the unit variable cost[fuel cost] and it seems better to select high thermal efficiency machine for Co-generation plant even with some higher cost of the plant.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.20 no.9
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• pp.599-607
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• 2008

In this study, air conditioning systems include ground source heat pump (GSHP), are evaluated for economic feasibility. The building is modeled an air conditioned for 280kW scale. This analysis is compared with the energy tariff programs of Korea and USA. The objectives of this paper are to evaluate the cost-effectiveness of the GSHP and combined system using Life-Cycle Cost (LCC) analysis, and to carry out the sensitivity analysis of key parameters. The paper considered the cases including the base case of air source heat pump and the other two alternates for comparisons. The combined system is not only a cost-effective way to the low energy consumption but also a way to avoid a high initial investment. The variations of initial investment and energy rates give a significant effect on the total LCC and payback period.

• Journal of the Korea Society for Simulation
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• v.29 no.4
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• pp.95-109
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• 2020

In this paper, an optimal manufacturing system design problem in an automotive body assembly lines is introduced when various costs such as equipment investment costs are considered. Meta-model methodology based on simulation results has been used for estimating the performances of the system such as production rate and work-in-process levels. The objective function is minimizing total cost which satisfies the target production rate. The investment costs such as robots, buffers, transportation equipment, and the inventory holding cost of work-in-process have been included in the objective function. Harmony search method has been used for optimization.