• KDI Journal of Economic Policy
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• v.14 no.4
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• pp.27-49
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• 1992

This paper stresses the role of market fundamentals rather than bubbles in explaining Korea's recent experience of large fluctuations of stock and real estate prices. The bubble story that emphasizes the self-fulfilling prophecies of investors seems to be inappropriate to explain the recent changes of assets prices in Korea. Those who argue for bubble phenomenon in Korea tend to interpret the volatile movements of assets prices as some form of bubbles, but without implementing a rigorous test on the presence of bubbles. Even when some bubble tests are carried out, such studies exhibit various econometric problems in testing. More seriously, they suffer from the misspecification problems in setting up a market model. This paper has shown that Korea's recent changes in assets prices could be explained by changes in market fundamentals according to the emergence and the subsequent fading of 'three lows'. First, it tried to explain changes in assets prices by changes in such market fundamentals as real interest rates and economic growth. Second, it showed that the real estate prices overshoot when the liquidity and exchange rates change, using the two-sector general equilibrium portfolio balance model. It is argued that the rapid rise in real estate prices during 1986-89 stems from Yen's and Won's appreciation $vis-{\grave{a}}-vis$ the U.S. dollar and liquidity expansion (or decreases in real interest rates), while the downturn in real estate prices since 1990 is associated with Yen's and Won's depreciation $vis-{\grave{a}}-vis$ the U.S. dollar and rises in real interest rates in reflection of the excess demand for liquidity.

• Journal of the Korean Crystal Growth and Crystal Technology
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• v.29 no.6
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• pp.298-307
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• 2019

Two types of CaO-Al₂O₃-SiO₂ (CAS) glass powder applied spray coating on the surface of sintered Al₂O₃ were researched for sintering behavior; (1) Si-rich, glass containing high content SiO₂, (2) Ca-rich, containing high content CaO. Foaming of bubbles remaining inside the Ca-rich glass was produced at a viscosity of approximately 10⁷~10⁹ poise, resulting in decreasing shrinkage (interfering with sintering) and increasing surface roughness. In case of Si-rich glass, there was no serious foaming bubbles phenomenon like Ca-rich below 1000℃, however cristobalite crystals with low density occurred at 1200℃ and then produced re-foaming of bubbles, resulting in abnormal sintering behavior. These phenomenon is considered to be a decrease in viscosity due to an increase in the Ca content of the glass according to the formation of low-density cristobalite crystals. Therefore, in case of CAS glass, it is necessary to consider the increase of surface roughness and the sintering interference because of foaming bubbles phenomenon at low temperature sintering. Especially, when containing high SiO₂ content, abnormal foaming phenomenon due to crystallization at high temperature should be predicted.

• Journal of the Korean Recycled Construction Resources Institute
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• v.9 no.4
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• pp.642-649
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• 2021

Energy saving standard for buildings are strengthened, the application of exterior insulation finishing system and thickness of insulation materials are increasing. Most buildings with exterior insulation finishing system is applied organic insulating material. Organic insulating material have workability, economic feasibility, reduction in construction cost, and excellent thermal insulation performance. However, Organic insulating material is very vulnerable to heat, so when a fire occurs, rapid fire spread and toxic gas are generated, causing many casualties. Inorganic insulating material can be non-combustible performance, but it is heavy and has low thermal insulation performance. Mineral wool has higher thermal insulation performance than other types of inorganic insulating material, but mineral wool is disadvantageous to workability and vulnerable to moisture. Glass bubble are highly resistant to water and chemically stable substances. In addition, the density of the glass bubble is very low and the particles are spherical, fluidity is improved by the ball bearing effect. Glass bubbles can be used with cement-based ino rganic insulating material to impro ve the weight and thermal insulatio n perfo rmance o f cement-based inorganic insulation. This study produced a inorganic insulating materials were manufactured using cement-based materials and glass bubble. In order to evaluate the insulation performance and flame retardant performance of cement-based super light-weight inorganic insulating materials using with glass bubble, insulation performance or flame retardant and non-combustible performance were evaluated after manufacturing insulating materials using micro cement and two types of glass bubbles. From the test result, Increasing the mixing ratio of glass bubbles improved the insulation performance of cement-based super light-weight inorganic insulating materials, and when the mixing ratio of glass bubbles was 10%, it sho wed sufficient flame retardant and no n-co mbustible perfo rmance.

• Geophysics and Geophysical Exploration
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• v.26 no.1
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• pp.8-17
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• 2023

Various sources, such as wind, waves, ships, and gas leaks from the seafloor, forms bubbles in the ocean. Underwater bubbles cause signal scattering, considerably affecting acoustic measurements. This characteristic of bubbles is used to block underwater noise by attenuating the intensity of the propagated signal. Recently, researchers have been studying the large-scale release of methane gas as bubble plumes from the seabed. Understanding the physical properties and distribution of bubble plumes is crucial for studying the relation between leaked methane gas and climate change. Therefore, a water tank experiment was conducted to estimate the distribution of bubble plumes using seismic imaging techniques and acoustic signals obtained from artificially generated bubbles using a bubble generator. Reverse time migration was applied to image the bubble plumes while the acquired acoustic envelope signal was used to effectively estimate bubble distribution. Imaging results were compared with optical camera images to verify the estimated bubble distribution. The water tank experiment confirmed that the proposed system could successfully image the distribution of bubble plumes using reverse time migration and the envelope signal. The experiment showed that the scattering signal of artificial bubble plumes can be used for seismic imaging.

• The Journal of the Acoustical Society of Korea
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• v.28 no.3
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• pp.198-207
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• 2009

Distribution of cavitation bubbles relative to change of the sound speed and attenuation in the water was estimated using acoustic signal from 20 to 300 kHz in two cases that cavitation bubbles exist and do not exist. To study generation and extinction property of cavitation bubble, bubble distribution was estimated in three cases: change of rotation speed (3000-4000 rpm), surface area of blade ($32-98\;mm^2$) and elapsed time (30-120 sec). As a result, the radii of the generated bubbles ranged from 10 to $60{\mu}m$, and bubble radius of $10-20{\mu}m$ and $20-30{\mu}m$ was accounted for 45 and 25% of the total number of cavitation bubbles, respectively. And generation bubble population correlated closely with the rotating speed of the blades but did not correlate with the surface area of blade. It was observed that 80% of total bubble population disappeared within 2 minutes. Finally, acoustic data of bubble distribution was compared with optical data.

• Proceedings of the Korean Society of Precision Engineering Conference
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• 2012.05a
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• pp.1171-1172
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• 2012

• Proceedings of the Korean Society of Coastal and Ocean Engineers Conference
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• 2006.09a
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• pp.181-184
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• 2006

• Proceedings of the Korea Association of Crystal Growth Conference
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• 1996.06a
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• pp.513-515
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• 1996

• Proceedings of the Korean Society of Marine Engineers Conference
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• 2011.06a
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• pp.274-274
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• 2011

• Nuclear Engineering and Technology
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• v.38 no.2
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• pp.175-184
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• 2006

Boiling and flashing are driven by the same physics for nucleation, bubble growth, departure etc. An adequate model of boiling has to describe the flashing too. The subject of this paper is to prove this uniqueness of the elementary physics driving the both processes.