• Journal of Korea Trade
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• v.23 no.6
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• pp.131-144
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• 2019

Purpose - The purpose of this study was to investigate market power of soybeans exported by the United States to Korea. Particularly, this paper considered dichotomous characteristics of genetically modified (GM) soybeans and non-GM soybeans and conducted empirical analysis of these two segregated soybean markets to understand key tenets of market power in international soybean trade. Design/methodology - The difference in market power between GM and non-GM soybeans was analyzed using Residual Demand Elasticity (RDE) and Residual Supply Elasticity (RSE) models over the period of 2008~2018. RDE and RSE models under an imperfect competition condition were used to estimate market margins and determine whether GM and non-GM exporters or importers exercised market power in the destination market. Findings - Empirical results suggested that the U.S. had a market power on both GM and non-GM soybean exports. GM exports had greater market power than non-GM exports (14% vs. 9%). By contrast, Korea showed an inability to grab market margin or exert market power in soybean imports. Both export supply by the U.S. and import demand by Korea were found to be more responsive to price changes of GM soybeans than to prices changes of non-GM soybeans. This might be due to a self-interested, profit-seeking strategy by the exporter and many concerned consumers regarding potential adverse effects of GMOs in the importing country. Originality/value - This paper fills the literature gap by exploiting market power in both GM and non-GM markets with explicit consideration of price correlations between GM and non-GM soybeans in Korea. A number of existing studies have provided evidence for market power broadly embedded in international commodity trade. However, studies focusing on Korean markets are limited. No study has explored the country's soybean trade. Furthermore, the majority of prior studies have almost exclusively focused on the market power from a standpoint of exporting countries without discussing importers' market structure. This paper also sought to understand potentially distinguished patterns of market power between GM and non-GM markets.

• Proceedings of the KIEE Conference
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• 1999.07b
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• pp.740-742
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• 1999

The demand for the high quality of utility electrical power has been increasing rapidly in recent years because of today's electrical energy dependent industries and most people's everyday lives based on computer systems. However, electrical power supply conditions to meet this high quality demand becomes more difficult and more due to a large portion of nuclear power plants output in total electrical power supply which normally do not respond to frequency variations, and high peak of air conditioner demands during the summer season. So the rest of power plants should be operated to show the best governor regulation performance to maintain the electrical power frequency quality.

• Journal of Institute of Control, Robotics and Systems
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• v.5 no.7
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• pp.868-875
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• 1999

In this paper, digital motor control center using protection relay is developed in order to protect power systems by means of timely fault detection and diagnosis during operation for induction motor which have various load environments and capacities in power systems. Digital motor control center is employed by power supervisory control systems without separate remote terminal unit and transducers adding communicational ability. Also we develope a maximum demand controller to control the load effectively at peak status and a power factor controller to minimize real power losses and improve the power factor. Therefore, when using the developed controller, real time computation is possible by loading DSP in hardware and applying real-time kernel which can convert each algorithm to task module.

• Proceedings of the KIEE Conference
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• 2003.07a
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• pp.77-79
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• 2003

New cities and industrial complexes are being developed actively because of the government policies aiming population distribution and vitalization of construction industry. To determine the investment amount, number of power lines and substations for stable power supply to newly developed residential and industrial complexes, accurate estimation of power demand is necessary. This paper propose standards for the estimation of power demands for power company and construction company to settle the debates surrounding this issue. Through a survey and analysis of existing areas, new standards that will enable more accurate estimation of power demands in new cities complexes to be developed in the future are established by calculating the average load density, load factor, utilization factor by area, use and building size after dividing the facilities into building type and the areas into the areas planned to be developed and the areas not yet planned to be developed.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.59 no.9
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• pp.1575-1580
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• 2010

Demand Response is a well-known means usually operated by the system operator(SO) or the electricity retailers in order to reduce the peak loads or cut the price in electricity market. KPX(Korea Power eXchange), the SO in Korea has been operating the demand bidding program(or the demand resource market) since it was firstly introduced as the pilot project in 2008. The results has proved to be effective to enhance demand response. This paper describes the basic concepts and the operation results of the program.

• 한국신재생에너지학회:학술대회논문집
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• 2006.11a
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• pp.561-565
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• 2006

The paper presents a method of assessing the adequate tapaclty of photovoltaic generation systems for public buildings based on analysis of load variation patterns of customers. When PV systems are installed for supplying power for the customer load, reverse power relay is required by the guideline to be installed at the point of common coupling with the power network. The suggested method analyzes daily, weekly and monthly load demand of the customer that Irishes PV system installation, and determines the appropriate rating of the PV system for preventing PV generation from exceeding the customer demand. This work is expected to support renewable energy dissemination projects of public organizations.

• Proceedings of the KIEE Conference
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• 2006.07a
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• pp.418-419
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• 2006

After electricity power industry restructuring, "Long term power development plan", setting up by government, is replaced by "Basic plan of electricity supply and demand". In this basic plan, one of the most important factors is assessment of appropriate capacity margin. The benefit of GENCO is decided by the market price, and the price is largely affected by the level of reserve margin. As a consequence, appropriate reserve margin is determined by market power. However, Cost Based Pool(CBP) is a limited competitive market, and government policy for supply and demand is very important factor or reserve margin determination. This paper points out issues about existing reserve margin assessment method which is used in basic plan and suggests improved assessment method. In the case study, capacity margin is calculated by proposed assessment method and result shows the advantages of suggested method.

• The Proceedings of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.6 no.3
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• pp.57-62
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• 1992

In this paper, the reasonable design standard of Demand Factor for large office buildings is introduced that was made by the statistical way considering actual conditions, such as investigated electrical equipment capacity, electrical power consumption, etc. The results are as follows. 1) It is shown that th saving of electrical equipment investment, the decrease of power loss, the improvement of facilities utilization and the decrease of electrical power rates can be contributed by the application of the design standard. 2) The effect of reduction is showed to confirm the practical use of the proposed reference Demand Factor, and also, it is believed that this proposed reference Demand Factor will be useful in electrical equipment operation and planning.

• Proceedings of the KIEE Conference
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• 2001.07a
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• pp.524-526
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• 2001

The variations of real time electric price in competitive electricity markets have influence on electric power demands of the consumers. Residential, commercial, and industrial consumers, with different characteristics cause the different price elasticity of the demand due to changing the pattern of consumption. Therefore, this paper calculate the elasticity of each loads and analysis the effects of electric power demands and spot pricing as a function of elasticity in competitive electricity market.

• Management Science and Financial Engineering
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• v.18 no.2
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• pp.23-27
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• 2012

The problem of jointly determining a robust optimal bundle of price and order quantity for a retailer in a single-retailer, single supplier, single-product supply chain is considered. Demand is modeled as a decreasing power function of product price, and unit purchasing cost is modeled as a decreasing power function of order quantity and demand. Parameters defining the two power functions are uncertain but their possible values are characterized by ellipsoids. We extend a previous study in two ways; the purchasing cost function is generalized to take into account the economies of scale realized by higher product demand in addition to larger order quantity, and an exact transformation into an equivalent convex optimization program is developed instead of a geometric programming approximation scheme proposed in the previous study.