• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.10
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• pp.4359-4368
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• 2011

Among several macroeconomic missteps blamed for the recent global financial crisis including the social problems of income distribution and the lack of proper financial remedies, two of them have received particular attention: the global BOP(Balance of Payment) imbalance and the misguided monetary policy. Such BOP imbalance was blamed for massive foreign exchange investment flows from Asia into the U.S., triggering the financial and real estate bubble in America. The latter refers to the excessively loose monetary policy of the U.S. Federal Reserve, which pushed financial institutions and households into reckless investment behavior in search of higher returns. Given the abuse of certain innovative financial techniques and new investment instruments that have been created in recent decades, both collateralized debt obligations (CDOs) and credit default swaps (CDS) enjoyed a symbiotic and toxic relationship prior to the financial crisis This paper is organized as follows: The first section analyzes the real causes of the recent financial crisis. The second details the role of CDOs and CDS. Then, to identify key determinants of the CDS spreads in an emerging capital market, the sample data of major Korean firms' CDS spreads are used to estimate the risk premium by utilizing the multiple regression analysis. The empirical test result indicates that Korean 3-year treasury bond rate(TYIELD), market to book value ratio(MV/BV), and assets size(INASSETS) are shown to demonstrate statistically significant influences on the changes of the CDS premium for sample firms.

• Proceedings of the KWS Conference
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• 2009.11a
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• pp.62-62
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• 2009

석탄화력발전소의 CO2배출량 감소와 고효율, 대용량화로 인해 초초임계압(USC:Ultra Super Critical) 화력발전소의 건설이 증가하고 있다. USC 발전소는 효율향상을 위한 증기온도와 압력의 상승 때문에 보일러 고온고압부에 기존의 소재에 비해 고온강도와 내산화성의 재료물성이 향상된 신소재 적용이 불가피하다. 특히 사용된 신소재 중에서 보일러 본체를 구성하는 수냉벽관(Water wall), 과열기와, 재열기용 튜브 및 후육부인 헤더와 배관재로 기존의 2.25Cr-1Mo강을 개량한 2.25Cr-1.6W계 내열강이 적용되고 있다. 2.25Cr-1.6W강은 SMI와 MHI가 공동개발한 소재로 1995년 튜브제품이, 1999년에 단조, 파이프재, 플레이트제품이 ASME code case로 등재되었고, 2009년 ASME code case 2199-4로 개정되어 사용 중이다. 이 소재는 2.25Cr-1Mo강에 고온강도 개선을 위해 석출강화효과가 있는 V과 Nb을 첨가하였고, 탄화물의 열적안정성과 고용강화효과 증대를 위해 W을 첨가하였다. 그리고 제작성과 용접성 및 재료의 인성 향상을 위해 B첨가와 C함량을 낮추었다. 합금성분의 첨가와 조정에 의해 고온강도는 개선되었지만, 보일러 설치 및 보수를 위한 용접과정에서 용접금속과 CGHAZ(Coarse Grain HAZ)에서 용접균열이 발생하였다. 대부분의 용접균열은 용접결함이나 고온 혹은 저온균열이 아닌 2.25Cr-1.6W계강의 강도 개선을 위해 첨가한 V과 Nb이 용접후열처리 도중 입내에 MX형태의 미세석출로 입내를 강화시킴으로서 발생한 재열균열 민감성 증대에 기인된 것으로 판단된다. 이에 본 연구에서 용접 및 후열처리 과정에서 용접금속과 HAZ에서 발생하는 용접금속의 응력분포를 전산해석을 통해 확인하고 실제 후육파이프 용접부에서 잔류응력을 측정해 비교하였다. 용접부 응력분포는 SYSWELD 프로그램을 사용해 해석을 수행하였고, 발전소 실배관재의 용접부 응력측정은 수평부 측정이 용이하도록 지그를 부착한 Potable 잔류응력측정기를 사용해 Hole Drilling Method(HDM)를 적용하여 잔류응력을 측정하였다. 해석 결과 CGHAZ부위의 잔류응력이 용접금속과 기타 부위에 비해 높은 응력분포를 나타냈으며, 이는 CGHAZ와 용접용융선 부근에서 균열이 발생하는 실제값과 일치하는 결과를 보였다. 실제 배관재 용접부에서 측정한 잔류응력값은 항복응력의 약 50% 이하 응력값을 나타냈다. 배관 구조에 기인한 시스템응력의 영향을 제거하기 위해 배관재 용접부를 중심으로 양끝단을 절단 후 용접부에서 측정한 응력은 항복응력 대비 25%수준의 낮은값을 보였다. 그러나 배관재가 장기간 고온환경에 노출되었고 용접금속 내부의 균열이 발생한 상태에서 측정하였기 때문에 용접잔류응력은 상당부분 해소되어 상대적으로 낮은 응력값이 얻어진 것으로 판단된다.

• Food Science and Preservation
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• v.24 no.5
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• pp.593-599
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• 2017

The objective of this study was to investigate the effect of superheated steam (SHS) and high hydrostatic pressure (HHP) techniques on the improvement of the quality of Bulgogi product during manufacturing process. Bulgogi product was treated with four different cooking/treatment process: conventional cooking (CC), SHS cooking (SHS), CC and then HHP cooking (CC-HHP), and SHS and HHP cooking (SHS-HHP) samples. SHS treated product increased moisture content, and decreased crude protein. Additionally, hardness, gumminess and shear force values were significantly different among the samples (p<0.05). In safety experiment after 14 days of storage at refrigeration temperature indicated that the bacterial population was lower in the case of SHS-HHP as compared to CC-HHP. Changes in texture during the storage periods at $10^{\circ}C$ for SHS-HHP was lowest values with compared to the initial, while shear force values for both tended to decrease with increasing storage period. The TBA and VBN values for SHS-HHP increased to 0.48 ($5^{\circ}C$)-1.68 ($10^{\circ}C$) mg MD/kg and 25.14 ($5^{\circ}C$)-45.14 ($10^{\circ}C$) mg%, respectively after 15 days of storage. Overall, it was found that the combination of SHS and HHP reduced microbial growth, thus leading to improved product quality and sanitation.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.9 no.6
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• pp.1745-1753
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• 2008

We analyzed the physical and chemical properties such as proximate analysis, ultimate analysis, heating values, thermogravimetric analysis, and combustion test for the organic sludge discharged from chemical and petrochemical product manufacturing industries in the industrial complex. The average combustible and ash content of organic sludges from chemical and petrochemical product manufacturing industries were 17.42%, 7.45%, and 18.25%, 4.22%, respectively. The C, H, O, N, and S compositions for chemical and petrochemical product manufacturing industries were 33.06, 4.34, 24.81, 5.18, and 0.72%. And those compositions for petrochemical product manufacturing industries were 36.58, 4.74, 26.79, 5.09, and 0.49%, respectively. From the TGA test, the minimum temperature for combustion of the sludge discharged from B company was $700^{\circ}C$ for direct use for energy and 2 sludges(F and N companies) were about $600^{\circ}C$. According to the basic combustion test, high concentration of CO was formed because oxidation and pyrolysis reaction take place in the batch type reactor at the same time. From this phenomena we could obtain the significant data for the overheating and breakage of furnace.

• Journal of the Korean Institute of Gas
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• v.25 no.4
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• pp.27-35
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• 2021

Recently, as a solution to the sharp drop in "power reserve ratio", it is being converted to a microgrid that enables bi-directional transmission and distribution. A microgrid is composed of a small-scale distributed power supply and a load. As a representative technology of distributed power generation, there is a Micro Combined Heat and Power system applied to homes and buildings. In this study, a safety standard was developed by dividing the power generation system, cooling system, lubrication system, and exhaust system to derive safety standards for a small gas engine power generation system with a gas consumption less than 232.6kW (200,000 kcal/h). In the case of the power generation system, a filter was installed and the system was stopped by detecting gas leakage and abnormalities in engine speed or output and the cooling system is stipulated to stop the system in case of insufficient cooling water or overheating. The lubrication system monitors the pressure and temperature of the lubricating oil and stops the system when an abnormality occurs, and the exhaust gas emission concentration regulation value was specified in accordance with domestic and foreign standards. Through the results of this study, it is judged that the safety of the gas engine power generation system can be improved and it can contribute to the commercialization of products.

• Culinary science and hospitality research
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• v.20 no.6
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• pp.235-244
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• 2014

The purpose of this study was to investigate the effect of freezing and thawing rate on the physical properties of soybean sprouts to improve the quality of processed soybean sprouts during distribution and storage. Cooked soybean sprouts were frozen by air-blast freezing (ABF) system at $-45^{\circ}C$ or natural air convection freezing (NCF) system at $-24^{\circ}C$, then thawed using microwave oven by varying output power (0, 400, 800 and 1,000 W) until $75^{\circ}C$. The quality of soybean sprouts was measured by the water content, hardness and springiness. In addition, the internal microstructure of soybean sprouts was observed by optical microscope. For results, water content of soybean sprouts thawed by 1,000 W in a microwave showed the lowest value after natural air convection freezing. Springiness of soybean sprouts thawed by all amounts of output power was decreased in comparison with control. Hardness was increased only in soybean sprouts thawed by 1,000 W after air-blast freezing. However the gaps between springiness and hardness were relatively small with control at 1,000 W thawing, after air-blast freezing. Internal microstructure of the soybean sprouts was more damaged as freezing and thawing time were increased. In conclusion, high freezing and thawing rate might improves the quality of soy bean sprout, and IQF freezing and 1,000 W of microwave thawing appears to be the optimum condition for frozen HMR production. From the results freezing and thawing process parameters might can be use as quality control parameters as various type of sprout products processing.