Sungsig Bang

Impact of firm size and industry type on R&D efficiency throughout innovation and commercialisation stages: evidence from Korean manufacturing firms

Technological innovation through R&D is a critical element in enhancing and fostering firm performance. In particular, measurement of R&D efficiency throughout the innovation and commercialisation stages is important. However, almost of R&D efficiency-related studies assumed that R&D is a single stage. This study aims at analysing relative efficiency scores throughout the stages of the R&D process using a two-stage data envelopment analysis (DEA) model with a sample of 1039 Korean manufacturing firms. Based on our preliminary results, this study was extended by comparing subsample groups categorised by firm size and industry type. The key findings include: (1) firms show imbalanced R&D efficiency throughout the two stages and (2) R&D efficiency is different by firm size and industry type. The empirical results and findings may assist policy- and decision-makers to enhance R&D efficiency at the firm level. Moreover, introduction of the two-stage DEA model and comparative analysis methods to firm-level data contributes to scholars.

ECONOMIC VIABILITY TO BeO-UO₂ FUEL BURNUP EXTENSION

This paper presents the quantitative analysis results of research on the burnup effect on the nuclear fuel cycle cost of BeO-UO₂ fuel. As a result of this analysis, if the burnup is 60 MWD/kg, which is the limit under South Korean regulations, the nuclear fuel cycle cost is 4.47 mills/kWh at 4.8wt% of Be content for the BeO-UO₂ fuel. It is, however, reduced to 3.70 mills/kWh at 5.4wt% of Be content if the burnup is 75MWD/kg. Therefore, it seems very advantageous, in terms of the economic aspect, to develop BeO-UO₂ fuel, which does not have any technical problem with its safety and is a high burnup & long life cycle nuclear fuel.

The credit analysis of recycling beryllium and uranium in BeO-UO2 nuclear fuel

This study quantifies the credits of beryllium and uranium which are used as the raw materials for BeO-UO2 nuclear fuel by analyzing the influence of their credits on the nuclear fuel cycle cost was analyzed, where the credit was defined as the value of raw materials recovered from spent fuel and the raw materials that were re-cycled. The credits of beryllium and uranium at 60 MWD/kg burn-up were –0.22 Mills/kWh and –0.14 Mills/kWh, respectively. These findings were based on the assumption that the optimal mixing proportion of beryllium in the BeO-UO2 nuclear fuel is 4.8 wt%. In sum, the present study verified that the credits of beryllium and uranium in relation to BeO-UO2 nuclear fuel are significant cost drivers in the cost of the nuclear fuel cycle and in estimating the nuclear fuel cycle of the reprocessing option for spent nuclear fuels.

Cost Estimation and Efficiency Analysis of Korean CANDU Spent Fuel Disposal Alternatives in Consideration of Future Price Volatility

In Korea, spent fuel is temporarily stored in spent fuel pools at nuclear reactor sites and it is predicted to become saturated between 2020 and 2024. For this reason, four disposal alternatives (KRS-1, A-KRS-1, A-KRS-21, and A-KRS-22) have been developed in order to carry out the direct disposal of the CANDU spent fuel. The objective of this study is to conduct cost efficiency analysis of the disposal alternatives in consideration of price volatility for the radioactive waste repository. To derive future price volatility, this study used the ARIMA model. As a result, A-KRS-1 is the most efficient in terms of price per bundle using 2015 price. As for the results using ARIMA model, except in the case of KRS-1, the cost per bundle of A-KRS-1, A-KRS-21, and A-KRS-22 is decreased. Cost estimation using ARIMA model shows little change or decreases in cost while cost estimation using inflation rates for 2020 resulted in approximately 7.2% increases compared to 2015 for all options. As for the results of scenario analysis, A-KRS-1 earned 8,160 points, while A-KRS-22 followed closely behind with 7,980 points among the total 24,300 points. The results of this study provide invaluable policy data for any nation considering the construction of spent nuclear fuel repository.