김경택 교수

A carbon market was introduced for the first time in January 2005, when the EU assigned carbon emission allowances to approximately 15,000 enterprises in 25 countries and established a market for emissions trading. In Korea, the carbon emission trading system started from January 2015 with three phases running up to 2025. As many countries have introduced carbon markets, new evaluation models that consider not only fossil energy prices but also carbon emission costs are necessary because additio

To attract the private sector to railway public-private partnership (PPP) projects, the public sector is required to share risks resulted from a failure in demand forecasting. The Korean government introduced BTO-risk sharing (BTO-rs) as a new PPP arrangement to promote investments in railway projects. BTO-rs is to share operating costs and revenues by both the public and private sectors. This study explains the methodology of BTO-rs. Based on BTO-rs, this study conducted the sensitivity analysi

In 2015, Korea became one of the pioneering countries to implement ETS nationwide in Asia. The purpose of this paper is to estimate the market-based prices of carbon credits in Korea by using a comparative analogy approach. In this paper, the comparative analogy is applied as follows: Based on the assumption that the factors affecting carbon prices would be same with the those of EU ETS which is the most matured market in the world, we attempt to estimate the market-based carbon prices of Korea

In recent years, advanced countries in energy sector are emphasizing the importance of the development and deployment of renewable energy to cope with the global environmental crisis such as depletion of fossil energy, climate convention to control emissions of greenhouse gases. In this paper, we evaluate the economic value of the investment in new and renewable energy R&D in Korea and optimal deployment timing of new and renewable energy by using the real option approach. The real option model

The purpose of this paper is to analyze the efficiency of government investment in the deployment and technological development of three technological areas - wind power, photovoltaic and fuel cell - of renewable energy in Korea using the DEA (data envelopment analysis). The efficiencies of government investment in renewable energies are measured and compared among three kinds of technologies using the actual data during 2007~2009. In the present DEA model, R&D investment and government subsidie

Companies which utilize equipment as a critical manufacturing asset should resolve the problem of economic replacement. In this article, a case study of equipment replacement for an auto parts manufacturer is presented. We derive a formula to calculate the expected service life using a classical binomial real options model under revenue uncertainty. A sensitivity analysis shows that the initial cost of the equipment has the largest impact on the expected service life in this case study. The pres

The high-speed railway (HSR) has affected accessibility at diverse spatial levels. Although previous studies have examined HSR impacts on accessibility and inequality, the price attribute in estimating accessibility is less noted. This study evaluates the effects of HSR on unequal accessibility at the South Korean national level, capital and non-capital regions and according to urban population sizes by comparing ticket prices to time values. There are two major conclusions of this study. First,

This study presents the key summary of the inaugural report of the WCTRS Global Subway Efficiency Benchmarking Task Force, focusing on evaluating the operating efficiency of subway systems across Asia, Europe, and North America. Given the increasing need for urban transit authorities to balance multiple objectives, such as reducing greenhouse gas emissions and enhancing public health, this benchmarking initiative provides a crucial assessment of their productivity and efficiency of operations. W

Recently, as the effective use of research equipment has been regarded as a prerequisite condition to maximize research and development (R&D) outcomes, the problem of replacing aging or obsolete research equipment has become important. The purpose of this article is to assess the economic life of R&D equipment empirically using data gathered from public R&D institutes in Korea. We developed a systematic model to apply traditional engineering economic concepts and estimated the economic service l