• Journal of Korea Port Economic Association
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• v.35 no.4
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• pp.107-120
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• 2019

Crude oil is a resource that is being used as a raw material in major industries, representing the price of the raw material market. It is also an important element that affects the shipping market in terms of fuel costs for freight vessels. As a result, crude oil and freight rates are closely related. Therefore, from January 2009 to June 2019, this study analyzed the dependency structure between oil price (WTI) and freight rates (BDI, BCI, BPI, BSI, and BHI) using daily data. The main results are summarized as follows. First, according to the copula results, survival Gumbel copula in WTI-BDI, Clayton copula in WTI-BCI, Survival Joe copula in WTI-BPI, Joe copula in WTI-BSI, and survival Gumbel copula in WTI-BHI were selected as the best-fitted model. Second, looking at Kendall's tau correlation, there is a positive correlation between BDI and oil price. Furthermore, freight rate index (BCI, BPI, BSI) and oil price show positive dependencies. In particular, the strongest dependence was found in BCI and oil price returns. However, BHI and oil price show a negative dependency. Third, looking at the tail-dependency structure, a pair between oil price and BDI, BCI showed a lower tail-dependency. The pair between oil price and BSI showed the upper tail-dependency.

• Proceedings of the KSME Conference
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• 2008.11b
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• pp.2001-2006
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• 2008

The most concerning issue of these days is the energy crisis by increasing threat of dependency on foreign oil and its volatility itself. In the situations, the PHEV is drawing attention for the next generation's car which could give a chance to decrease the dependency on foreign oil. As well as, the Korean electric power infrastructure is a strategic national asset that is under utilized most of the time. With the proper changes in the operational paradigm, it could generate and deliver necessary energy to charge the PHEVs which could penetrate the market within few years. In doing so, it would reduce greenhouse gas emissions, improve the economics of the electricity industry, and reduce the energy dependency. This paper investigate the technical potential and impacts of using the existing idle capacity of the electric infrastructure in conjunction with the emerging PHEVs technology to meet the majority of daily energy needs of the Korean LDV fleet.

• Environmental and Resource Economics Review
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• v.29 no.2
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• pp.145-170
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• 2020

This study analyzes the dependence structure between energy (crude oil, natural gas, coal) prices and economic (real and financial) uncertainty. Summary of the results of the dependence structure between energy prices and economic uncertainty analysis is as follows. First, the results of model selection show that the BB7 copula model for the pair of crude oil price and economic uncertainty, the Joe copula model for the pair of natural gas price and economic uncertainty, and the Clayton copula model for the pair of coal price and economic uncertainty were chosen. Second, looking at the dependency structure, it showed that the pair of energy (crude oil, natural gas, coal) prices and real market uncertainty show positive dependence. Whereas, the only pair of financial market uncertainty-crude oil price shows positive dependency. In particular, crude oil price was found to have the greatest dependence on economic uncertainty. Third, looking at the results of tail dependency, the pair of real market uncertainty-crude oil price and pair of real market uncertainty-natural gas price have an asymmetric relationship with the upper tail dependency. It can be seen that the only pair of financial market uncertainty-crude oil represents asymmetric relationships with the upper tail dependencies. In other words, combinations with asymmetric relationships have shown strong dependence when negative extreme events occur. On the other hand, tail dependence between economic uncertainty and coal price be not found.

• Preventive Nutrition and Food Science
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• v.2 no.1
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• pp.6-10
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• 1997

The reaction mechanisms and kinetics of tertiary butylhydroquinone(TBHQ) as an antioxidant in soybean oil oxidation were studied. The oxidation reaction of soybean oil at 55, 60 and $65^{\circ}C$ was a first order. The activation energies of soybean oil containing 0, 25, 50, and 75ppm TBHQ were 12.15, 6.05, 6.15 and 6.17kcal/mole. respectively. The addition of THQ to soybean oil containing 0, 25, 50, and 75ppm TBHQ were 1.88$\times${TEX}$10^{7}${/TEX}, 4.10$\times${TEX}$10^{2}${/TEX}, 4.32 $\times${TEX}$10^{2}$p/TEX} and 3.97$\times${TEX}$10^{2}${/TEX}, respectively. The decrease of frequency factor rather than the activation energy. The effects of antioxidants on the temperature dependecy of lipid oxidation could be effectively evaluated by measuring their effects on the activation energy of lipid oxidation.

• 한국지구물리탐사학회:학술대회논문집
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• 2009.05a
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• pp.67-71
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• 2009

The high resolution seismic data processing essentially requires the latest data processing technology with a system which enables to calculate the large volume of input/output and computing of data. Nowadays, there is a high foreign dependency on the data processing and QC. In this research, The test processing had been carried out to deduce the best suited software by evaluating functionality, usability and user environment. And several attempts are made to select the most appropriated specification of hardware in order to maximize the software efficiency. The results showed that more numbers of multiple and noise were eliminated in existing prestack time migration sections, which effectively enhanced the resolution.

• Bulletin of the Korean Chemical Society
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• v.29 no.4
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• pp.731-735
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• 2008

The fluid ensemble in the liquid lens, which is composed of electrolyte and silicone oil, is the key material system to vary the focal length processing of the electrochemical desorption. In order to characterize the capability of the liquid lens according to response time and optical range, we prepared a fluid ensemble comprising the electrolyte and oil. To elucidate the physical mechanism of the effective response time, we examined the viscosity dependency while satisfying the requirements for the density and refractive index of the electrolyte and oil, respectively. The characterization results indicated that the response time (up and down) is influenced by the viscosity of the electrolyte and oil. On this basis, we prepared a fluid ensemble capable of reversibly adjusting for the focal length of the liquid lens, as well as the response time. The ensemble is applicable to various systems such as micro-lens and optical sensors.

• Environmental and Resource Economics Review
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• v.14 no.4
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• pp.943-964
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• 2005

This study estimated a wide range of stochastic process models using the frameworks of CKLS (1992) and Nowman and Wang (2001). For empirical analysis, the GMM estimation procedure is adopted for the monthly Brent crude oil prices from January 1996 to January 2005. Using the simulated price series, European call option premiums were calculated and compared each other. The empirical results suggest that the crude oil price has a strong dependency of volatility on the price level. Contrary to the results of previous related studies, it shows a weak tendency of mean reversion. In addition, the models provide different implications for pricing derivatives on crude oil.

• Journal of Energy Engineering
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• v.23 no.2
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• pp.119-124
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• 2014

After the oil crisis in 1970s, many countries have tried to reduce oil dependency. Especially, in Korea, rapid declining oil consumption has speedily brought to electrification and a surge in electricity demand. This paper attempts to estimate the relationship between declining oil use and electrification in Korea using OECD panel data covering from 1985 to 2011. To this end, random effect model and fixed effect model are employed. The increase in the ratio of energy oil to total energy consumption by 10%p leads to reduce the electricity demand by about 15%. This result can be useful information to cope with the recent crisis of electric power. In addition, industrial sector is ranked in forth the ratio of industrial electricity use to total electricity use according to the result of comparative analysis of electricity consumption by use in OECD countries. Therefore, industrial sector should be treated as the main target of demand-side management policies for electricity.

• Microbiology and Biotechnology Letters
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• v.15 no.2
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• pp.98-103
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• 1987

Two phase reaction system was used to hydrolyze the olive oil for fat splitting. Kinetics of lipases in two phase system were investigated by determining the hydrolysis rate of triglycerides at various olive oil concentrations in isooctane using the microbial lipases from Candida rugosa and Rhizopus arrhizus. The rate equation in lipid hydrolysis for various olive oil concentrations in two phase system was deviated from the Michaelis-Menten kinetics. The results suggested that the olive oil concentration in isooctane affects the interfacial area. The dependency of the interfacial area on olive oil concentration is greater at the lower olive oil concentration than at the higher substrate concentration. We modified the rate equation by considering the interfacial area between two phases depending on the olive oil concentration in solvent phase.

• Korean Journal of Food Science and Technology
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• v.44 no.1
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• pp.8-13
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• 2012

Effects of UV irradiation on lipid oxidation in perilla seeds and perilla oil were evaluated by determining the contents of peroxides, conjugated dienoic acids, and thiobarbituric acid reactive substances, and analyzing fatty acid composition. Tocopherols and polyphenol contents were also determined. Perilla seeds were unroasted or roasted at $180^{\circ}C$ for 20 min, and perilla oil was obtained by pressing the roasted perilla seeds. Lipid oxidation during UV irradiation was higher and faster in perilla oil than that in perilla seeds, with a slight loss of linolenic acid. Unroasted perilla seeds were more oxidation-stable than roasted seeds. Tocopherols and polyphenols were degraded during UV irradiation, with a higher degradation rate observed in unroasted perilla seeds than in roasted ones. Antioxidant concentration dependency of the lipid oxidation during UV irradiation was higher in perilla oil than that in perilla seeds, and the contribution of polyphenols to oxidative stability was higher than that of tocopherols in all samples.