• Journal of Korea Port Economic Association
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• v.34 no.4
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• pp.181-190
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• 2018

The goal of this study is empirically to investigate the asymmetric relationship between two variables using the dry cargo freight rates and raw material price data from January 2012 to May 2018. First, we estimate the asymmetry of macroeconomic indicators of commodity prices by using a two - step threshold cointegration test. Second, the asymmetric relation test of the trade balance of existing commodity price changes is tested by bypassing to the high frequency dry cargo freight rate index. As a result of the estimation, in contrast to the existing linear analysis, each boundary value for the lower limit and the upper limit has different asymmetry. This implies that the period of fluctuation of the sudden residual that causes irregular rate of return fluctuations does not establish a long term equilibrium relationship between the raw material price and the dry cargo freight rate. Therefore, in order to consider the sudden price change in the analysis, it is necessary to include the band of inaction that controls the irregular volatility, which is consistent with the asymmetry hypothesis.

• Journal of the Korean Society of Marine Environment & Safety
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• v.26 no.3
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• pp.262-268
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• 2020

The IMO (International Maritime Organization) has mandated the restriction of SOx emissions to 0.5 % for all international sailing vessels since January 2020. And, a number of countries have designated emission control areas for stricter environmental regulations. Three representative methods have been suggested to cope with these regulations; using low-sulphur oil, installing a scrubber, or using LNG (Liquefied Natural Gas) as fuel. In this paper, economic analysis was performed by comparing the method of installing a scrubber with the method of using low-sulphur oil without installing additional equipment. We suggested plausible layouts and compared the pros and cons of dif erent scrubber types for retrofitting. We selected an international sailing ship as the target vessel and estimated payback time and benefits based on navigation route, fuel consumption, and installation and operation costs. Two case of oil prices were analyzed considering the uncertainty of fuel oil price fluctuation. We found that the expected payback time of investment varies from 1 year to 3.5 years depending on the operation ratio of emission control areas and the fuel oil price change.

• New & Renewable Energy
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• v.10 no.1
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• pp.41-49
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• 2014

For a proper valuation of wind power project, it is necessary to consider volatilities of key parameters such as annual energy production, electricity sales price, and long term interest rate. Real option methodology allows to calculate option values of these parameters. Volatilities to be considered in wind project valuation are 1) annual energy production (AEP) estimation due to meteorological variation and estimation errors in wind speed distribution, 2) changes in system marginal price (SMP), and 3) interest rate fluctuation of project financing which provides refinancing option to be exercised during a loan tenor for commercial scale projects. Real option valuation turns out to be more than half of the sales value based on a case study for a FIT scheme wind project that was sold to a financial investor.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2019.05a
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• pp.226-227
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• 2019

The basic type construction cost which is the base of the building cost estimation is being adjusted according to the price changes by utilizing the apartment construction cost index in order to flexibly operate it. In this study, we analyzed the change trends and characteristics of the housing cost index for the basic type building cost model project operated from September, 2012 to March, 2018. As a result, the increase in material costs is slight while the share of the labor cost increased in the construction cost due to the rise of labor unit price, leading to a perceived increase in sensitivity of labor costs. We should be careful to keep the sensitivity of the material cost and the labor cost to an appropriate level so that the index may not be distorted.

• 한국약용작물학회:학술대회논문집
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• 2010.10a
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• pp.129-130
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• 2010

• Elastomers and Composites
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• v.27 no.2
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• pp.89-101
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• 1992

This paper is concerned with analysis for market trend and technological tendency of rubber-use black among United state, Japan and Korea, Through this comparative analysis, the subjects with which domestic carbon black industry is confronted are : first, development of new grade carbon black such as high performance carbon black, Low rolling resistance carbon black and lower grit carbon black, Second, reduction of quality fluctuation, third, improvement of applied technology and fourth, strengthening the price competitiveness through process optimization and productivity increase.

• Corrosion Science and Technology
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• v.11 no.2
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• pp.37-42
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• 2012

Recent issues in the automotive industries are, improvement of fuel efficiency according to the worldwide $CO_2$ regulation, passenger safety through enhanced crashworthiness, superior design and cost reduction due to price fluctuation of raw material. To meet these demands, steelmaking companies are developing advanced high strength steel and new process technologies such as hydroforming, TWB(Tailor Welded Blank), hot stamping and so on. In addition, eco-friendly and high corrosion resistant coating technologies are getting more attention to comply with the environmental regulations. In this paper, reviews and prospects of recent coating technologies for automotive use are presented.

• Annual Conference on Human and Language Technology
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• 2020.10a
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• pp.347-350
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• 2020

농식품 가격을 안정적으로 제공하기 위해 농식품 가격 변동에 대한 요인 분석이 필요하다. 본 연구는 농식품 가격 변동의 요인 분석을 위해 인과관계 템플릿을 정의하고, 요약을 위한 개체명 인식 방법을 적용한다. 농식품 일일동향 데이터에 대한 평가에서 딥러닝 기반 BiLSTM-CRF 실험 결과 F1-점수 0.93으로 베이스라인 Bi-LSTM 실험 결과 0.75에 비해 높은 성능을 보였다.

• KDI Journal of Economic Policy
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• v.12 no.3
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• pp.3-26
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• 1990

Encouraged by the investment in the rice paddy, the introduction of new varieties (Tong-Il), and the price support program, there has been great success in increasing rice production. Meanwhile, the demand for rice has decreased rapidly as per capita income continues to rise. Rice self-sufficiency has been attained, and a new over-supply problem is emerging. Moreover, the Uruguay Round Agricultural Negotiation would prohibit government price support for agricultural products. In October the Korean government decides the government purchase amount and support price, which works as the price guideline. All interested parties exert political efforts to influence the decision. The continued increase of the government purchase price of rice due to political pressure pushed the government purchase price above the market wholesale price in 1988. Also, the farmers preferred to sell to the government than to the wholesaler. This has discouraged the market mechanism, and the government is to take over the three functions of the market mechanism: stockpiling, seasonal price fluctuation adjustment, and circulation. Another big increase may cause the government purchase price to rise above the consumer price, which might lead to arbitrage opportunities for the farmers and suffocate the market mechanism. However, the current political situations limits the options for the Korean government. This paper argues that a supply control policy will reduce the social cost resulting from the high level of producer price support, and it proposes several second best policies: First, the production of new varieties should be reduced rapidly. Second, the old rice in the government warehouse should be auctioned or disposed of in order to reduce the government handling and management costs. Third, the acreage diversion program should be launched in order to control rice paddy acreage. Fourth, a social welfare program in rural areas should be introduced, since the share of population over 60 is increasing rapidly. Fifth, instead of the price support which is forbidden by the Uruguay Round, Korea should restructure the agricultural industry by developing new crops, by enhancing productivity and by improving the agricultural infrastructure.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.25 no.11
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• pp.39-49
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• 2011

Smart Grid has two main objectives on both supply and demand aspects which are to distribute the renewable energy sources on supply side and to develop realtime price responses on demand side. Renewable energy does not consume fossil fuels, therefore it improves the eco-friendliness and saves the cost of power system operation at the same time. Demand response increases the flexibility of the power system by mitigating the fluctuation from renewable energies, and reduces the capacity investment cost by shedding the peak load to off-peak periods. Currently Smart Grid technologies mainly focus on energy monitoring and display services but it has been proved that enabling technologies can induce the higher demand responses through many pilot projects in USA. On this context, this paper provides a price responsive algorithm for HEMS (home energy management system) on the real time pricing environment. This paper identifies the demand response as a core function of HEMS and classifies the demand into 3 categories of fixed, transferable, and realtime responsive loads which are coordinated and operated for the utility maximization or cost minimization with the optimal usage combination of three kinds of demand.