• Journal of Korean Neurosurgical Society
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• v.30 no.2
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• pp.201-206
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• 2001

Objective : The purpose of this study was to assess the complications, duration of admission, cost effectiveness, radiologic stabilization of the anterior cervical bone fusion in the treatment of cervical disc disease with and without plating. Materials and Methods : Fifty-two surgically treated patients for cervical disc disease were reviewed. Group I consisted of consecutive treated patients with iliac auto-bone graft without instrumentation after anterior cervical discectomy. Group II consisted of consecutive treated patients with iliac autologous-bone graft with CASPER cervical plate fixations. Radiologic fusion was decided when loss of end plate boundary between graft bone and vertebral body and immobile, maintenance of the disc space were evident on simple dynamic plain films. The patients were discharged after the stabilization of cervical motion by films was of tained. These groups were analysed multiple variably with Mann-Whitney U-test. Results : Group I consisted of 18 patients, group II consisted of 34 patients. Mean age was $49.0{\pm}8.1years$, mean duration of admission was $17.27{\pm}10.51days$, mean costs for treatment was $1,970,000{\pm}475,000won$. In group I, mean age was 47.7(34-60) years, 16 patients had undergo on one-level operation, 2-patients had undergo on two-level operation, mean duration of admission was $28.7{\pm}10.4days$, mean costs for treatment was $2,194,473{\pm}561,639won$. The periods of stabilization was $6.6{\pm}3.36weeks$ on radiologic study. Mean periods of out patient follow up was 16.8(6-64) weeks after discharge. Mean period of radiologic follow up was 17.3(4-6) weeks after surgical operation. In group II, mean age was 49.7(37-62) years and 18 patients one-level operation, 14- patients had undergo on two-level operation and 2-patients three-level operation. Mean duration of admission was $11.24{\pm}3.29days$, mean costs for treatment was $1,850,823{\pm}389,372won$. The periods of stabilization was $5.88{\pm}7.07weeks$ on radiologic study. Mean period of out patients follow up was 16.7(4-60) weeks after discharge. Mean period of radiologic follow up was 12.4(3-52) weeks after surgical operation. The duration of admission showed statistical significance in Group II but other items showed no significant difference between two groups. Conclusions : The more economic, early life return and effective method of cervical disc disease in our series were evident in patients who had undergone, iliac bone graft and plate fixations after anterior discectomy.

• Journal of the Korean Institute of Intelligent Systems
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• v.21 no.3
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• pp.383-388
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• 2011

This paper presents to study the accuracy improvement of the laser navigation using FIS(fuzzy inference system) and the reliability. As wireless guidance system, the top-mounted laser with the laser navigation can rotate $360^{\circ}$ with phototransistor or other optical sensors that read the return signal from reflectors mounted at the perimeter of the workspace. The type of major existing guidance systems is a wire guidance system. Because they have high accuracy and fast response time, they are used to most industries. However, their installation cost is very expensive and maintenance is very difficult because their sensors are placed approximately 1 inch below the ground or embedded in the floor. To solve those problems, the laser navigation was developed as a wire guidance system. It does not need to reconstruct a floor or ground. And it can reduce costs of installation and maintenance because changing the layout is easy. However, it is difficult to apply to an industrial field because it is easily affected by disturbances which cause loss and damage of data, and has slow respond time. Therefore, we study the accuracy improvement of the laser navigation. The proposed method is a correction method using reliability of the laser navigation. here, reliability is calculated by FIS which is designed with the analyzed characteristics of the laser navigation. For performance comparison, we use original position data form the laser navigation and position data corrected by original reliability from the laser navigation. In experimental result, we verified that the performance of the proposed method compared the others is improved by about 50% or more.

• Journal of Navigation and Port Research
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• v.43 no.4
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• pp.264-272
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• 2019

In this study, the rate of return on investment used as a proxy variable for the entity's value and financial structure (liability ratio) is related to positive balance. This is consistent with the Static Tradeoff Theory (STT) that the entity's value and financial structure are related to a positive balance because the capital expense of a debt (tax-saving effects) that is less than its equity cost before it is in financial difficulty. Also, operating profitability (EBITDA/Sales), investment safety, total asset growth, net working capital and depreciation expenses are related to negative (-) with financial structure (liability ratio). This is the result of an analysis consistent with the Pecking Order Theory (POT). Fuel costs, borrowing, total asset turnover, financial costs, and tangible asset ratios have a significant positive relationship with the debt ratio. This is consistent with the agency theory and confirms that excessive chartering expenses, such as the bankrupt H company, are the main factors that pressure the financial structure of Korean ocean carriers.

• Journal of the Korean Society of Marine Environment & Safety
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• v.25 no.1
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• pp.102-110
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• 2019

The shipbuilding and offshore plant industry of Korea is important and leads Korea's economic growth, designated as the 1st to 4th export items in Korea in terms of export contribution over the period from 2011 to 2015. This study proposes ways to improve the national competitiveness of Korean shipyards in the global offshore drilling market by reviewing a business model for providing an integrated offshore drilling commissioning service in Korea. This commissioning service model, which was attempted in 2014, was reviewed, and a new proposed business model for overcoming the limitations of the previous model and activating further business was evaluated. As a result of an economic evaluation, it was found that a 150-meter water depth model is economically more effective. As the number of integrated commissions increased from 2 to 5 times per year, NPV, IRR and B/C ratios increased and the fee per use decreased. Therefore, for offshore drilling facilities constructed and delivered in Korea, it will be necessary to encourage integrated offshore commissioning.

• Journal of Navigation and Port Research
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• v.44 no.6
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• pp.541-549
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• 2020

This study conducts differential analysis on the financial positions of Korean shipping companies before and after the bankruptcy of the H carrier, looking specifically at their financial ratios, profit and loss patterns, and other factors related to their financial operation. Firstly, it was discovered that major measures of financial health, such as average assets per carrier, were not affected by the bankruptcy of the H carrier. However, despite this, most carriers experienced large changes in profits and losses, with total sales and shipping revenues averaging 424.5 billion won and 381.7 billion won respectively before the bankruptcy, but falling by half to 252.1 billion won and 234.6 billion won after the bankruptcy. Additionally, charter revenues and expenses also dropped by more than half. EBIT/sales and pre-tax revenue margins were also heavily affected after the bankruptcy, with both figures averaging 8% and 3% respectively before the bankruptcy, but falling into the negative range at -2% and -8% post-bankruptcy, resulting in significant deterioration in operational profitability. The study concludes that there is an urgent need to establish a global sales network, improve cost structures, and consistently secure stable cargo in order to increase Korean carriers' profitability. Of all financial measures, liquidity and total asset efficiency were identified as the most severely-impacted by the H carrier bankruptcy, thereby requiring the most pressing policy addressing.

• Journal of Digital Convergence
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• v.18 no.12
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• pp.243-249
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• 2020

This study analyzes the earnings management that can occur in the process of public offering in the process of SMEs reducing cost of capital, risks and seeking opportunities for direct financing. Since a company is subject to strict supervision during the IPO process, it is possible to prevent the phenomenon that the company value evaluated in the market is underestimated, or to perform earnings management in consideration of overestimation. This study attempted to verify the degree of earnings management through discretionary accruals and actual earnings management values that can affect the earnings ratio of the IPO of a company. For this study, total accruals were calculated and analyzed through discretionary accruals, sales, costs, and actual earnings management adjustments from production activities. As a result of the analysis, discretionary accruals, which are the countermeasures for earnings management during the listing process, have a positive(+) relationship in both the stock price return and the sales adjustment value, which can be viewed as a factor that induces high valuation. As a result of this, there may be a risk of adverse selection for the benefit amount, and information asymmetry may exist for public offering stocks. This study can provide useful guidelines for evaluating corporate value to domestic SMEs and investors that do business with Chinese companies as well as China through the current and type of earnings management of Chinese listed companies.

• The Journal of the Convergence on Culture Technology
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• v.7 no.2
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• pp.239-246
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• 2021

Unification means the change of the economic system from 'Planned Economy' of the North Korea to 'Market Economy' of the South Korea. Therefore, it may cause confusions and difficulties for North Koreans who have been under planned economy for ages. So, we need to take the perspective of behavioral economics for the effective education. First of all, it is about overall finance, which contains the record of financial transactions, effect of inflation, investors' bounded rationality, and choice difficulty of financial products. Second, it is about borrowings, which includes the credit management, interest rate of difference among financial institutions. Third, it is about investment on financial products, which includes the effect of cost on returns, difference between compound interest and simple interest, trade-off between expected return and risk, market and non-market risks, the importance of diversification, and passive & aggressive investments.

• Resources Recycling
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• v.31 no.3
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• pp.40-52
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• 2022

This study analyzed the amount of carbon dioxide reduction and economic benefits of detailed processes of CO₂ 6,000 tons plant facilities with mineral carbonation technology using carbon dioxide and coal materials emitted from domestic circulating fluidized bed combustion power plants. Coal ash reacted with carbon dioxide through carbon mineralization facilities is produced as a complex carbonate and used as a construction material, accompanied by a greenhouse gas reduction. In addition, it is possible to generate profits from the sales of complex carbonates and carbon credits produced in the process. The actual carbon dioxide reduction per ton of complex carbonate production was calculated as 45.8 kgCO₂eq, and the annual carbon dioxide reduction was calculated as 805.3 tonCO₂, and the benefit-cost ratio (B/C Ratio) is 1.04, the internal rate return (IRR) is 10.65 % and the net present value (NPV) is KRW 24,713,465 won, which is considered economical. Carbon mineralization technology is one of the best solutions to reduce carbon dioxide considering future carbon dioxide reduction and economic potential.

• Journal of Korea Entertainment Industry Association
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• v.13 no.1
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• pp.111-119
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• 2019

The purpose of study was to evaluate the economic evaluation of Chuncheon curling stadium. In oder to estimate economic evaluation, benefit/cost ratio, net present value and internal rate of return were used. Additionally, in order to investigate the socio-economic spread effect, literature review and input-output analysis were used. The results of study were as follows. First, as a result of analyzing the demand for curling stadiums in Chuncheon, it was believed that the construction of the stadium will attract athletes from the Chuncheon region as well as athletes from Seoul, Incheon, Gyeonggi Province and North Chungcheong Province. Second, economic validity analysis showed that the initial investment did not make sense, but the players' training and competitions and the advantages of the potential experience of curling events for citizens in nearby areas, including Chuncheon, make the construction and operation reasonable. Third, as a result of the review of the social and policy validity of the curling stadium, the project to build a curling stadium in Chuncheon was secured with a policy validity as a public sports facility necessary for both professional and living athletes. Finally, the analysis of socio-economic spread effect of curling stadiums had shown that it would have a positive effect on the level of satisfaction of the general public as well as the discovery of elite athletes.

• Journal of Wetlands Research
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• v.25 no.4
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• pp.394-407
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• 2023

Ecological restoration is an ecological technology that diagnoses problematic ecological spaces and restores the damaged ecosystem to a healthy appearance similar to its original appearance based on reference information obtained by analyzing intact nature. To achieve successful restoration, the project must be carried out in respect of a series of procedures. However, in Korea, restoration projects are usually actively promoted regardless of diagnostic evaluation, which wastes cost and energy, and the effect is not significant. As the reference information is not utilized, ecological restoration to return the damaged nature makes features different greatly from the appearance of nature, causing another damage. As the restoration effect is not evaluated, it is impossible to determine whether it is successful or not, and as a result, even if the project continues, there is no development and no effect. However, advanced societies have not only made academic progress by respecting these procedures but also have great economic effects along with the improvement of environmental conditions as ecological restoration has become an industry. Therefore, the international society recognizes ecological restoration as an important means of solving environmental problems at the global level, including climate change, and international organizations are actively promoting projects to treat the injured planet. However, most of the restoration projects promoted in Korea were evaluated below the level as a result of the evaluation of the effect. Nevertheless, those who have led low-quality projects are blocking plans to establish ecological restoration as a new industry that can contribute significantly to improving these levels, and thus the problem is expected to worsen. To solve this problem, it is necessary to filter out defective businesses by introducing a strict and correct project evaluation system by dividing it into before and after. Furthermore, it is necessary to establish ecological restoration as an industry and leave the process in the principles of the market.