• Proceedings of the Korean Society of Tribologists and Lubrication Engineers Conference
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• 2000.11a
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• pp.414-419
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• 2000

This paper presents the knowledge and information construction trends in the oil industry. The investigated results show that the website construction and e-business level in oil industries including oil circulation distributors are very low and introduction stage compared with those of other industries.

• The Journal of Fisheries Business Administration
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• v.33 no.1
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• pp.43-68
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• 2002

In the fisheries industry, the cost of oil Is the greatest factor, contributing 25% 40% of the cost of production. In order to support fisheries, the government has supplied large amounts of money for oil to the fisheries industry. However, the elimination and restriction against the subsidy of fisheries has been actively discussed throughout international organizations Including the WTO. The purpose of this thesis is to study the existing issue of subsidies on the fisheries Industry, which is currently disputed in international organizations, and predict a future policy about the oil supply that considers the most important factors on fisheries. In chapter 2, the paper begins by outlining the tendencies of discussion in relation to the subsidy on fisheries among international organizations, and categorizes them on the basis of their types. Chapter 3 defines the current conditions and characteristics of the Korean subsidy on fisheries and analyzes which portions of the subsidy on fisheries should be eliminated first when it is prohibited. In chapter 4, procedures and problems for producing tax-free oil are discussed, because tax-free oil has a higher possibility of being ruled out. Chapter 5 proposes a reasonable plan concerning oil supply policies for maintenance or enrichment of the fishing industries, post the elimination of subsidies. Conclusions were drawn in eight areas as a result of this study: 1) securing the large storage of oil, 2) extending customers of oil to include non-fishermen, 3) coordinating the segmentation of marketing area, 4) diversification of the sales goods, 5) producing oil sales experts, 6) developing original brands, 7) expanding the purchasing area to buy oil in the international market, and 8) operating funds to stabilize oil price. It would not be appropriate to wait until international organizations decide to ban the subsidy of fisheries. Corresponding plans ( such as securing the large storage of oil) tend to be large scale and long-term projects because they take a number of years, from designing the oil storage tank to selecting the proper region and initiating the construction. Therefore, it is strongly suggested that any extensive and time consuming projects including preparation for the tax-free oil should be completed in new actions before the ban by the international organizations.

• Advanced Composite Materials
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• v.18 no.2
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• pp.187-195
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• 2009

Much attention has been paid to the processing of inorganic whisker, especially calcium carbonate whisker, which can be used as reinforcement materials of polymer composite due to its low price. Unfortunately, the present synthesis technique of calcium carbonate whisker starts from calcinations of limestone, which involves high energy consumption and furthermore is a highly environment polluting reaction. In this report, needle-like aragonite was synthesized with a reversible solution reaction from limestone without calcination. Optical microscopy, scanning electron microscopy (SEM) and X-ray diffraction (XRD) techniques were used to characterize the morphology and crystal structure of intermediates as well as that of the product, aragonite. GCC (grinding calcium carbonate) powder was dissolved in an aqueous solution of magnesium sulfate with reflux and air flush. EDTA titration was used to evaluate reaction rate of the dissolution. A kinetics equation of the dissolution reaction was constructed, which displayed second-order kinetics with respect to the concentration of magnesium sulfate. A rate constant of $0.0015\;l^{-3}{\cdot}mol^{-1}{\cdot}h^{-1}$ was obtained. The dissolution reaction gave fiber-like magnesium hydroxide sulfate and gypsum crystal. Then needle-like aragonite with a length of $9.13\;{\pm}\;1.02\;{\mu}m$ and an aspect ratio of $5.64\;{\pm}\;1.37$ was synthesized from the dissolution product with $CO_2$ bubbling at $70^{\circ}C$.

• The Journal of Fisheries Business Administration
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• v.42 no.1
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• pp.19-35
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• 2011

This paper tries to show the appropriate estimation method of oil pollution damage for mariculture fisheries. The International Oil Pollution Fund 1992(also known as the IOPC Fund 1992) has made up the Claims Manual to assist claimants by giving a general overview of the Fund's obligation to pay compensation. Section III of the Manual provides more specific information to assist claimants in presenting their claims concerning about economic losses in the fisheries, mariculture and fish processing sectors. The paper tries to suggest reform proposals for current etimation method of damages of maricluture fisheries contaminated by oil spillover using the population biology of living resources charaterized with age distribution.

• The Journal of Fisheries Business Administration
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• v.44 no.1
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• pp.15-24
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• 2013

Recently the Korean court accepts two typies of fisheries damages caused by oil pollution.. One is the direct loss of fisheries production originated from pollution of oil spillover. The other is the indirect loss of fisheries production originated from governmental measure of restricting fishing activities because of safety of marine product of oil spillover areas. The paper tries to suggest the appropriated measure of oil pollution damages of hanging and floating netcage aquaculture fisheries using the court judgement for responsibility restriction on Herbei Spirit Case. The paper tries to compare the damge estimation method of floating netcage aquaculture fisheries with that of natural aquaculture fisheries using conventional theory of the population biology of living resources characterized with age distribution.

• Economic and Environmental Geology
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• v.41 no.5
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• pp.617-624
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• 2008

Azerbaijan, located on western part of Caspian Sea, has been developed oil and gas exploration and production business from about 200 years ago and once charged of 50% of world oil production in the early 20th century. After Azerbaijan was independent of Soviet Union in 1991, foreign oil companies, including Korean oil companies, have been investing in Azerbaijan oil business on offshore blocks. Productive capacity of downstream in the Azerbaijan is lower than productive capacity of upstream, whereas there are important pipelines, such as BTC, SCP, NREP, and WREP, provide opportunities of the oil and gas exporting to the world. Oil fields in onshore blocks in the Azerbaijan are almost mature oil fields, caused by high recovery rate. Offshore oil blocks are still high potential in oil exploration with high risk.

• Asia-Pacific Journal of Business
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• v.13 no.2
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• pp.39-50
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• 2022

Purpose - The purpose of this study is to examine how Korea's macroeconomic factors, such as GDP, CPI, Export, Import, Unemployment rate and USD/KRW exchange rate, are affected by the oil price shocks. Design/methodology/approach - This study used monthly and quarterly time-series data of each variable for the period 1983 to 2022, consisting of two sub-periods, to employ Granger causality test and GARCH method in order to identify the role of the oil price movement in macroeconomic factors in Korea. Findings - Korea's currency rate to the US dollar is negatively correlated with the price change of crude oil while the GDP change is positively correlated with the price change of crude oil with strong relationship between Export and Import in particular. The exchange rate and GDP growth are believed to be not correlated with the oil price change for the pre-GFC period. According to the Granger causality test, the price change in crude oil has a causal impact on CPI, Export and Import while other factors are relatively slightly affected. Transmission effect from the oil price to Export is found and there also exists volatility spillover from oil price to economic variables under examination. Comparing two sub-periods, CPI and Export volatility responds negatively to shocks in the oil price for the pre-GFC period while volatility of CPI and Unemployment reacts positively to the oil price shocks for the post-GFC period. Research implications or Originality - The findings of this study could be helpful for both domestic and international investors to build their portfolio for the risk management since rising WTI price can be interpreted as a result of global economic growth and ensuing increase in the worldwide demand of the crude oil. Consequently, the national output is expected to increase and the currency is also expected to be strong in the long run.

• Journal of Environmental Policy
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• v.11 no.2
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• pp.17-54
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• 2012

This paper researched market responses for listed companies in several industries affected by the major oil spill accident off the coast of Taean, in December 7, 2007. The Taean accident triggered considerable concerns in people over the possibility of potential future regulation in shipbuilding and petroleum industries. However, the accident also provided an unexpected business opportunity for environmental clean-up industry and shipbuilding industry. The oil spill triggered the acceleration of the enactment of policies that require all new oil tankers to be constructed with double hull, which is interpreted as a good news for shipbuilding industry. Increased public pressure coupled with the prospect of tightened regulation is expected to decrease the market values of firms in the affected business fields. The stock prices of shipbuilding companies dropped after the incident but dramatically surged after the enactment of the policy in January 31, 2008. Our study also found that companies with more extensive prior environmental disclosure had less negative market reactions during the first sixteen days following the accident.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.2
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• pp.55-68
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• 2017

This research is carried out to investigate the relationship between sustainability practices and performance in a financial sense for Malaysian Oil and Gas sector. Objectives include to study the state of sustainability disclosure among Malaysian oil and gas companies, to understand if companies that practiced sustainability had better performances to their financial bottom-line and to conduct a data analysis to understand the relationship between Environmental, social and governance performance [represented by the acronym ACSI] and financial performance. Sustainability performance is measured using ACSI checklist, which is an adaptation of the GRI 3.0 by Global reporting initiative while financial performance was measured on financial and profitability parameters namely EBITDA, EPS and PE ratio. Secondary data sources are used which were then converted into a rating scale to develop quantitative data. SPSS 21 is used for the analysis. The result shows that the majority of oil and gas companies in Malaysia had poor performance in terms of sustainability disclosure. On all three chosen profitability parameters, the companies that practiced sustainability were found to perform better than their counterparts that did not. Strong and significant relationship exists between sustainability practices and better financial performance.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.629-639
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• 2020

The current study explains how corruption, terrorism, political stability and oil price has an effect on on the Iraq stock exchange utilizing corruption perception index as a proxy of corruption, global terrorism index as proxy for terrorism, political stability and oil price with ISX60 index as proxy of stock market for the period (2005-2019) using Ordinary Least Square method. The results show that the level of corruption, terrorism activities and political stability coefficient is significantly positive with Iraq stock exchange. In contrast, the oil price coefficient is significantly negative with Iraq stock exchange, which means that lower levels of corruption, less terrorism activities and more stability in political system have strong influence on stock market development in Iraq. The study concludes that the explanatory variables are important for Iraq stock exchange. Hence, the study suggests the policy makers to develop stock market by implementing policies and strategies to overcome high level of corruption, terrorism activities especially after ISIS/ISIL announcement has been made public. There is a need for transparency and creating stable political environment through good governance practices in order to attract more foreign investment and promote economic development. Factors like terrorism and corruption make economic and political systems unstable and has an adverse effect on on Iraq's stock exchange performance.