• Architectural research
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• v.18 no.2
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• pp.59-64
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• 2016

Since the massive power outages that hit across the nation in September 2011, a growing imbalance between energy supply and demand has led to a severe backup power shortage. To overcome the energy crisis which is annually repeated, a policy change for deriving energy supply from renewable energy sources and a demand reduction strategy has become essential. Buildings account for 18% of total energy consumption and have great potential for energy efficiency improvements; it is an area considered to be a highly effective target for reducing energy demand by improving buildings' energy efficiency. In this regard, retrofitting buildings to promoting environmental conservation and energy reduction through the reuse of existing buildings can be very effective and essential for reducing maintenance costs and increasing economic output through energy savings. In this study, we compared the energy reduction efficiency of national power energy consumption by unit production volume based on thermal power generation, renewable energy power generation, and initial and operating costs for a building retrofit. The unit production was found to be 13,181GWh/trillion won for bituminous coal-fired power generation, and 5,395GWh/trillion won for LNG power generation, implying that LNG power generation seemed to be disadvantageous in terms of unit production compared to bituminous coal-fired power generation, which was attributable to a difference in unit production price. The unit production from green retrofitting increased to 38,121GWh/trillion won due to the reduced energy consumption and benefits of greenhouse gas reduction costs. Renewable energy producing no greenhouse gas emissions during power generation and showed the highest unit production of 75,638GWh/trillion won, about 5.74 times more effective than bituminous coal-fired power generation.

• Plant Journal
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• v.8 no.4
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• pp.45-54
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• 2012

Estimated project cost and executed sensitivity analysis for domestic 500 MW coal-fired power plants with monte carlo simulation. As a result of research, the basis of constant price in December, 2011 and 95% level of confidence, the project cost in case of not having adjacent power plant was 1,870 billion won to 2,330 billion won and the project cost in case of having adjacent power plant was 1,240 billion won to 1,590 billion won. In case of not having adjacent power plant is sensitive to civil construction cost but the other case is sensitive to material cost.

• Environmental and Resource Economics Review
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• v.25 no.4
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• pp.545-564
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• 2016

Recently as fine and ultra fine particles become major environmental issues in Korea, it is very important to develop effective solutions to air pollution. Accordingly this study aims at detecting causes of air pollution by using models and examining if diesel price increases contribute to reduction of diesel consumption and air pollution. TSP, PM10, $NO_X$, $SO_X$, CO, and VOC are included as major air pollutants. As a result, we found invert U shape curve between pollution and income for all air pollutants except CO. Consumer price index, coal power capacity, diesel consumption, frequency of yellow dust, number of natural gas buses, number of transport business, annual average temperature, number of manufacturing businesses are also influential in explaining causes of air pollution. As diesel price increases by 1%, air pollutants decline between 0.07~0.12% in the short run. Simultaneously, the additional revenue from increases in diesel prices might be transferred to support expansion of biofuel market. Also, stronger policy should be developed to mitigate the current air pollution problem.

• Journal of Korea Port Economic Association
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• v.38 no.2
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• pp.49-67
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• 2022

This study applied the method of Diebold and Yilmaz (2012, 2014, 2016) to analyze the connectedness between the Freight Index (BDI, BDTI, BCTI), energy price(oil, natural gas, coal), and grain price(soybean, corn, wheat) from July 19, 2007 to March 31, 2022. The main analysis results of this paper are as follows. First, according to the network analysis results, the total connectedness was measured to be 20.43% for the entire analysis period, indicating that there was a low correlation between the freight index and the commodity price. In addition, looking at the directional results, the variable with the greatest effects was corn, and conversely, the variable with the lowest effects BDI. When classified by events, BCTI was found to play a major role only during the COVID-19 period. Second, according to the results of the rolling-sample analysis, the total connectedness be found to be highly correlated with changes in economic conditions such as the financial crisis, trade war, and COVID-19 when specific events occurred.

• Korea Trade Review
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• v.43 no.3
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• pp.125-145
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• 2018

The Baltic Shipping Exchange is reporting the Baltic Dry Index (BDI) which represents the average charter rate for bulk carriers transporting major cargoes such as iron ore, coal, grain, and so on. And the current BDI index is reflected in the proportion of capesize 40%, panamax 30% and spramax 30%. Like mentioned above, the capesize plays a major role among the various sizes of bulk carriers and this study is to analyze the influence of the factors influencing on charter rate of capesize carriers which transport iron ore and coal as the major cargoes. For this purpose, this study verified causality between variables using Vector Error Correction Model (VECM) and tried to derive a long-run equilibrium model between the dependent variable and independent variables. Regression analysis showed that every six independent variable has a significant effect on the capesize charter rate, even at the 1% level of significance. Charter rate decreases by 0.08% when capesize total fleet increases by 1%, charter rate increases by 0.04% when bunker oil price increases by 1%, and charter rate decreases by 0.01% when Yen/Dollar rate increases by 1%. And charter rate increases by 0.02% when global GDP increases by one unit (1%). In addition, the increase in cargo volume of iron ore and coal which are major transportation items of capesize carriers has also been shown to increase charter rates. Charter rate increases by 0.11% in case of 1% increase in iron ore cargo volume, and 0.09% in case of 1% increase in coal cargo volume. Although there have been some studies to analyze the influence of factors affecting the charterage of bulk carriers in the past, there have been few studies on the analysis of specific size vessels. At present moment when ship size is getting bigger, this study carried out research on capesize vessels, which are biggest among bulk carriers, and whose utilization is continuously increasing. This study is also expected to contribute to the establishment of trade policies for specific cargoes such as iron ore and coal.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.2
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• pp.5-17
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• 2017

The main objective of the study is to measure the vulnerability of Indonesia's financial system stability in response to external shocks, including from regional economies namely three biggest Indonesia major trading partners (China, the U.S and Japan) and other external factors (oil price and the federal funds rate). Using Autoregressive Distributed Lag (ARDL) model and Orthogonalized Impulse Response Function (OIRF) with quarterly data over the period Q4 2002 - Q1 2016, results confirm that, 1) oil price response has the largest effect to Indonesia financial stability system and the effect period is the longest compared to others, represented by NPL and IHSG; 2) among those three economies, only China's economic growth has significantly positive effect to Indonesia financial stability system. Based on the findings it is better for the authorities to: 1) Diversify international trade commodities by decreasing share of oil, gas, and mining export and boosting other potential sectors such as manufacture, and fisheries; 2) Ensure the survival of Indonesia large coal exporter companies without neglecting burden of national budget; and 3) Create buffer for demand shock from specific countries by diversifying and increasing share of trading from other countries particularly from ASEAN member states.

• Journal of Hydrogen and New Energy
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• v.26 no.5
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• pp.499-506
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• 2015

Recently the Korean government announced its decision to select the $3^{rd}$ proposal, which targets reducing $CO_2$ by 37% of the BAU level by 2030, for the Intended Nationally Determined Contribution (INDC). According to this proposal, natural gas (or equivalent gas) combined cycle (NGCC) are suggested as alternatives for conventional pulverized coal (PC). In this study, we analyzed the environmental, economic, and energy mixing aspects of synthetic natural gas combined cycle(SNGCC) using NETL material (2011~2012 version) and other domestic materials (2014 version). We found the following conclusions: 1) Considering carbon capture and storage (CCS) integration, $CO_2$ emission factors of SNGCC and supercritical PC are the same. However, 60% of $CO_2$ from SNGCC is produced as high pressure and high purity (99%) gas, making it highly suitable for CCS, which is now strongly supported by the government. 2) Based on the economic analysis for SNGCC using domestic materials and comparison with NGCC, it was found that the settlement price of SNGCC was 30% lower than that of NGCC.

• Environmental and Resource Economics Review
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• v.20 no.3
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• pp.531-565
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• 2011

All previous studies analyzing multivariate time series data of EUA (European Union Allowance) price commonly used endogenous variables within the four variables and included the period from April to June of 2006 in the analysis, when the price distortion occurred. This study uses graph theory and structural vector error correction model (SVECM) to analyze the daily time series data of the EUA (European Union Allowance) price. As endogenous variables, five variables are considered for the analysis, including prices of crude oil, natural gas, electricity and coal in addition to carbon price. Data period is Phase 2 period (April 21, 2008 to March 31, 2010) to avoid the EUA price distortion of Phase 1 period (2005~2007). Further, the monthly data including the economic variables as endogenous variables are analyzed.

• Environmental and Resource Economics Review
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• v.16 no.1
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• pp.27-63
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• 2007

Using the CGE model, this paper investigates economic impacts of a shortage in crude oil resulting from voluntary export restraints, OPEC's agreement of a cut in oil production, and/or a storing on speculation. Unlike most previous studies considering oil price as the unpredictable variable, this study constructs the model to determine the oil price endogenously under the condition of an insufficient supply of crude oil. According to IEA's extraordinary steps for a shortage of crude oil, we investigate an economic impact of 7~12% shortage below the level of business as usual. The results show that oil price soars by 17.3~33.5%, the rate of economic growth falls by 0.52~0.96%p, and the consumer price index(CPI) rises by 0.8~1.51%p. These results imply that increasing in 1%p of oil price results in decreasing in 0.03%p of economic growth and increasing in 0.045%p of consumer price index. The production of electricity declines because of the increase in production cost. A shortage of crude oil has an effect on sources of electricity. Most reduction in electricity generation occurs from the reduction in the thermal power generation which is highly dependent on crude oil. The shortage of crude oil causes demand for petroleum to significantly decline but demand for coal and heat to increase because of the substitution effect with petroleum. Demand for gas rise in the first year but falls from the second year.

• Proceedings of the KSR Conference
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• 2010.06a
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• pp.397-407
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• 2010

The Railroad that is representative transportation of Low Coal and Green Growth is industry that meet and serve unspecificness many customer unexpensive price as industry doing against as social overhead capital. Present our country railroad achievement is real condition that is not coming out in eternal in the red management. Accordingly, In this research, analyze success factor of management black-ink balance of railroad advanced nation such as Japan, France and Compare with our country and grasps problem of present city railroad fare system. Finally, alleviate fare burden of customer through diversification of fare system service such as establishing point uniformly for railroad fare that introduce first in Japan JR Kyushu railroad and propose the improvement of management of railway operation organization through demand enlargement.