• Journal of the Korea Institute of Building Construction
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• v.24 no.2
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• pp.273-284
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• 2024

This study investigates the impact of international oil price fluctuations on overseas construction orders secured by domestic and foreign companies. The analysis employs statistical data spanning the past 20 years, encompassing international oil prices, overseas construction orders from domestic firms, and new overseas construction orders from the top 250 global construction companies. The correlation between these variables is assessed using correlation coefficients(R), determination coefficients(R²), and p-values. The results indicate a strong positive correlation between international oil prices and overseas construction orders. The correlation coefficient between domestic overseas construction orders and oil prices is found to be 0.8 or higher, signifying a significant influence. Similarly, a high correlation coefficient of 0.76 is observed between oil prices and new orders from leading global construction companies. Further analysis reveals a particularly strong correlation between oil prices and overseas construction orders in Asia and the Middle East, potentially due to the prevalence of oil-related projects in these regions. Additionally, a high correlation is observed between oil prices and orders for industrial facilities compared to architectural projects. This suggests an increase in plant construction volumes driven by fluctuations in oil prices. Based on these findings, the study proposes an entry strategy for navigating oil price volatility and maintaining competitiveness in the overseas construction market. Key recommendations include diversifying project locations and supplier bases; utilizing hedging techniques for exchange rate risk management, adapting to local infrastructure and market conditions, establishing local partnerships and securing skilled local labor, implementing technological innovations and digitization at construction sites to enhance productivity and cost reduction The insights gained from this study, coupled with the proposed overseas expansion strategies, offer valuable guidance for mitigating risks in the global construction market and fostering resilience in response to international oil price fluctuations. This approach is expected to strengthen the competitiveness of domestic and foreign construction firms seeking success in the international arena.

• The Korean Journal of Applied Statistics
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• v.23 no.1
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• pp.63-71
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• 2010

Business entrepreneurs reflect their views of domestic and foreign economic activities on their operation for the growth of their business. The decision, forecasting, and planning based on their economic sentiment affect business operation such as production, investment, and hiring and consequently affect condition of national economy. Business survey index(BSI) is compiled to get the information of business entrepreneurs' economic sentiment for the analysis of business condition. BSI has been used as an important variable in the short-term forecasting models for business cycle analysis, especially during the the period of extreme business fluctuations. Recent financial crisis has arised extreme business fluctuations similar to those caused by currency crisis at the end of 1997, and brought back the importance of BSI as a variable for the economic forecasting. In this paper, the meaning of BSI as an economic sentiment index is reviewed and a GUIDE regression tree is constructed to find out the factors which affect on BSI. The result shows that the variables related to the stability of financial market such as kospi index(Korea composite stock price index) and exchange rate as well as manufacturing operation ratio and consumer goods sales are main factors which affect business entrepreneurs' economic sentiment.

• Journal of Environmental Science International
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• v.3 no.2
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• pp.111-128
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• 1994

The distributions of sea surface temperature across the Cheju Strait and the Korea Strait have been measured by using a thermometer installed on board No.1 Cheju, a ferry that operates regularly between Pusan and Seogwipo. The data from 14 October 1991 to 15 August 1992 were analyzed in this paper. A clear temperature front is wormed at the adjacent sea of Geomundo, and its position is not fixed and moves north and south. The slow northward movement of the front can easily be traced, but the southward movement from March to October is obscure. The temperature contrast in the Cheju Soait and the Korea Strait is very we in this period. Some periodical fluctuations with a period of several tens of days are observed in the region of the temperature front from November to February. This fluctuation seems to be caused by winter heat flux exchange and the strong southeastward wind force. The result shows that continous observation of the sea surface temperature distribution across the Cheju Strait and the Korea Strait yields a good method for monitoring the presence of Tsushima Warm Current and the fluctuations of South Korea Coastal Water. The formation and structure of shelf front in the Cheju Strait and the Korea Strait was analysed based on the detailed oceanographic data observed during the period of 1990-1992. The analysis shows that well-defined fronts were formed through yearly around the Chuja Island, particularly, in summer. In nature, its structure and formation position can be changed easily from year % year and by season. But, in region of the Korea Strait this front is relatively weak.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.5
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• pp.116-124
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• 2016

In the past, once apartments were built by housing construction companies, their presale went smoothly. Therefore, the developer and construction companies in Korea were extremely competitive in the housing market. However, when the 1997 foreign exchange crisis and 2008 global financial crisis occurred, the quantity of unsold new housing stocks rapidly increased, which caused construction companies to experience a serious liquidity crisis. This paper aims at analyzing the influence of Liquidity on the Housing Market before and after Macroeconomic Fluctuations using VECM. The periods from September 2001 to September 2008 and from October 2008 to October 2015, which were before and after the Subprime financial crisis, were set as Models 1 and 2, respectively. The results are as follows. First, it is important to develop a long-term policy for the housing transaction market to improve household incomes. Second, due to the shortage in the supply of jeonse housing, structural changes in the housing market have appeared. Thus, it is necessary to seek political measures to minimize the impact of transitional changes on the market.

• Journal of Ecology and Environment
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• v.42 no.3
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• pp.111-119
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• 2018

Background: Juniperus chinensis L. populations are distributed locally on several areas including coastal cliffs which are difficult to access in the central eastern Korea. Wild populations inhabit relatively barren environments such as rocky areas and cliffs, which are very sensitive to even minor environmental disturbances including artificial interventions and natural disturbances, and thus demonstrate great fluctuations in the population size and density. This study aims to analyze the genetic diversity, differentiation, and genetic structure of each population in order to provide useful data required to establish a substantial conservation strategy of J. chinensis. Results: The genetic diversity of J. chinensis at the population level (P = 78.7%, h = 0.282, S.I. = 0.420) was somewhat higher compared with those measured in the same genus, Juniperus. The genetic differentiation degree among nine populations established naturally in central eastern Korea was 11.50% and that among sub-populations within the same area was 5.52%. On the other hand, genetic variation of individuals within the populations was 82.93%. But frequency of the main allele was different among loci. In particular, fixation of allele frequency and occurrence of rare allele in the highly isolated population suggest a likelihood that genetic drift would occur in populations of this plant. As the result of analysis on the genetic structure of nine populations, nearby populations and isolated populations tended to form separate clusters from each other as the hypothetical number of clusters (K) increase. Conclusions: This result implies that if the population size of J. chinensis is reduced due to environmental change and artificial and/or natural disturbances in the future, it could affect negatively on the genetic diversity of the plant species. In order to maintain and conserve genetic diversity of J. chinensis, ecological network, which can help genetic exchange among the local populations, should be prepared, and conservation strategies in situ as well as ex situ are also required with continuous monitoring.

• The Journal of Korean Association of Computer Education
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• v.4 no.1
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• pp.175-181
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• 2001

WBI provides new opportunities to realize the flexible learning environment based on hypermedia and to support distance learning with a diverse interaction. The instructors or learners in WBI claim to be able to resolve reluctant fluctuations such as disorientation and cognitive overload. To overcome these phenomena, a supplementary tool able to manage a learning space organized by the instructor's or learner's own way and offer effective navigation techniques is presented in this paper. A learning space management and navigation tool called HyperMap dynamically represents the learning space in the form of a two-dimensional labeled graph. This HyperMap also can be used for an instruction design tool, learners portfolio for the exchange of learning experiences, and the assessment of WBI.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.42 no.4
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• pp.915-922
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• 2017

Demand Response Market (DR Market) has risen as one of the key solutions to address the growth and fluctuation of electricity consumptions. In Korea, DR market has been in operation since 2014, where the focus has been mainly on large-scale loads. Small-scale DR market, however, is becoming increasingly important because small power consumers' contribution to the national power consumption has been increasing and because small loads tend to show large fluctuations. Furthermore, small-scale DR can improve social awareness on energy issues which can bring additional impacts. In this paper, we provide the findings from a small-scale consumer DR pilot. The pilot was conducted in the summer of 2016 on over 5,000 small-scale users in Korea, and smartphone applications were used in the pilot. The effectiveness of small-scale DR Market is analyzed and addressed, and the results indicate a promising future of small-scale DR Market.

• Plant Journal
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• v.10 no.3
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• pp.45-51
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• 2014

This study performs several experiments on a newly developed temperature safety system that can be used for residential building heating systems, the heat source of which is derived from a conventional fuel cell. Prior to this, the hot water made from a fuel cell was not used in residential housing but just went to waste. The present safety system is installed in the current underfloor heating system. At first we used the CFD technique to develop a new heat exchanger. The fuel cell must satisfy the thermal conditions of the inlet temperature being $55^{\circ}C$ and the outlet temperature being $60^{\circ}C$. But variations in weather cause fluctuations in the heating water temperature. The experimental results show our new system capable of maintaining the temperature difference within a ${\pm}0.5^{\circ}C$ range. So we believe that our new PFMFC fuel cell stack array is a good candidate for being used in residential heating systems.

• Water for future
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• v.27 no.3
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• pp.115-121
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• 1994

Cohesie sediment movement in estuarine systems is strongly affected by the phenomena of aggregation and flocculation. Aggregation is the process where primary particles are clustered together in tightly-packed formations; flocculation is the process where aggregates and single particles are bonded together to form large particle groups of very low specific density. The size, shape and strength of the flocculants control the rate of deposition and the processes of pollutant exchange between suspended sediments and ambient water. In estuarine waters, suspended sediments above the lutocline form the mobile suspension zone while below the lutocline they form the stationary suspension zone. Suspended particles in the mobile zone are generally in a dispersed state and the controlling forces are the Brownian motion and the turbulent flow fluctuations. In the stationary suspension zone, the driving force is the gravity. This paper discusses the settling and particle flocculation characteristics under quiescient flow conditions. Particles are entering the study domain randomly. Particles in the mobile suspension zone are simulated by using the Smoluchowski's model. Flocs created in the mobil suspension zone are moving into the stationary suspension zone where viscosity and drag effects are important. Utilizing the concepts of the maximum Feret's diameter and the Minkowski's sausage logic, the fractal dimension of the flocs within the stationary suspension is estimated and then compared with results obtained by other studies.

• Journal of Korea Trade
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• v.25 no.1
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• pp.1-17
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• 2021

Purpose - The global trend of protectionism has expanded since the onset of US President Donald Trump's administration in 2017. This global phenomenon has led to a significant reduction in world trade volume and a negative impact on economic development in some countries where the external sector accounts for a large proportion of GDP. Although Korea is a country vulnerable to this deteriorating trade environment, few studies have examined the relationship between protectionism and its business cycles based on Korean data. Thus, this paper investigates the impact of protectionism on Korea's business cycle. Design/methodology - To identify future implications, we conduct a structural vector autoregression (VAR) analysis using monthly Korean data from 1994 to 2015. Macroeconomic variables in the model include the industrial production index, inflation rates, exports (or net exports), interest rates, and exchange rates. For the identification of the shock reflecting the expansion of protectionism, we use an antidumping investigation (ADI) data. Since ADIs are followed generally by the imposition of antidumping tariffs, they have no contemporaneous impact on tariffs and are also contemporaneously exogenous to other endogenous variables in the VAR model. We examine two kinds of ADI shocks i) shocks on Korean exports imposed by Korea's trading partners (ADI-imposed shocks) and ii) shocks on imports imposed by the Korean government (ADI-imposing shocks). Findings - We find that Korea's exports decline sharply due to ADI-imposed shocks; the lowest point at the third month after the initial shock; and do not recover until 24 months later. Simultaneously, the inflation rate decreases. Therefore, the ADI-imposed shock can be regarded as a negative shock on the demand curve where both production and price decrease. In contrast, the ADI-imposing shock generates a different response. The net exports decline, but the inflation rate increases. These can be seen as standard responses with respect to the negative shock on the supply curve. Originality/value - We shed light on the relationship between protectionism and Korea's economic fluctuations, which is rarely addressed in previous studies. We also consider the effects of both protective policy measures on imports to Korea imposed by the Korean government and on policy measures imposed by Korea's trading partner countries on its exports.