• Journal of Korea Port Economic Association
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• v.32 no.2
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• pp.137-156
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• 2016

This study analyzes the optimal service levels of exclusive container terminals in terms of the optimal berth occupancy rate and the ships' waiting ratios, based on the number of berths. We develop a simulation model using berth throughput data from pier P, Busan New Port, a representative port in Korea, and apply the simulation results to different numbers of berths. In addition to the above results, we analyze the financial data and costs of delayed ships and delayed cargoes for the past three years from the viewpoints of the terminal operation company (TOC), shipping companies, and shippers to identify the optimal service level for berth occupancy rates that generate the highest net profit. The results show that the optimal levels in the container terminal are a 63.4% berth occupancy rate and 10.6% ship waiting ratio in berth 4,66.0% and 9.6% in berth 5, and 69.0% and 8.5% in berth 6. However, the results of the 2013 study by the Ministry of Maritime Affairs and Fisheries showed significantly different optimal service levels: a 57.1% berth occupancy rate and 7.4% ship waiting ratio in berth 4; 63.4% and 6.6% in berth 5; and 66.6% and 5.6% in berth 6. This suggests that optimal service level could change depending on when the analysis is performed. In other words, factors affecting the optimal service levels include exchange rates, revenue, cost per TEU, inventory cost per TEU, and the oil price. Thus, optimal service levels can never be fixed. Therefore, the optimal service levels for container terminals need to be able to change relatively quickly, depending on factors such as fluctuations in the economy, the oil price, and exchange rates.

• 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.

• Nuclear Engineering and Technology
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• v.33 no.1
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• pp.83-92
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• 2001

The properties of off-gas generated from vitrification process of ion-exchange resin were characterized. Theoretical composition and flow rate of the off-gas were calculated based on chemical composition of resin and it＇s burning condition inside CCM. The calculated off-gas flow rate was 67.9Nm$^3$/h at the burning rate of 40kg/h. And the composition of off-gas was avaluated as $CO_2$(41.4%), steam(40.0%), $O_2$(13.3%), NO(3.6%), and SO$_2$(1.6%) in order. Then, actual flow rate and composition of off-gas were measured during pilot-scale demonstration tests and the results were compared with theoretical values. The actual flow rate of off-gas was about 1.6 times higher than theoretical one. The difference between theoretical and actual flow rates was caused by the in-leakage of air to the system, and the in-leakage rate was evaluated as 36.3Nm$^3$/h. Because of continuous change in the combustion parameters inside CCM, during demonstration tests, the concentration of toxic gases showed wide fluctuation. However, the concentration of CO, a barometer of incompleteness of combustion inside CCM, was stabilized soon. The result showed quasi-equilibrium state was achieved two hours after feeding of resin.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.17 no.6
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• pp.505-513
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• 2005

We measured the time-dependent concentration of VOCs emitted from Ondol floor, furniture, and the wall made of various building materials. After obtaining results from the previous measurement, we developed the estimation equations of the concentration decay, and obtained the estimated graphs for the concentration decay under different air change rates and loading factor conditions by using the estimated equations. We conducted our tests by applying our measurements to real residences for 110 days in the case of furniture and for 40 days in the case of the floor. We also conducted experiments in the cases of various wall materials for 7 days which totaled 10 times. We used the GC/FID for experiments for real residences accord-ing to the specified procedures of the NIOSH 1501, and carried out experiments for wall materials according to the specified procedures of the ASTM 5116-97. When conducting experiments for wall materials, we set the temperature and relative humidity at $23^{\circ}C$ and $50\%$, respectively. We also set the air change rate and loading factor at 0.7/h and $1.617 m^2/m^3$, respectively. Our results showed that it is possible to predict proplrly the time-dependent concentration decay of VOCs by using logarithmic functions in both cases of experiments for real residences and for wall materials. Furthermore, we found that the concentration decay rate of VOCs increased rapidly as the air exchange rate increased while the concentration decay rate decreased as the loading factor increased.

• Transactions of the Korean hydrogen and new energy society
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• v.1 no.1
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• pp.1-8
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• 1989

The hydriding kinetic mechanism and the change of the hydriding reaction rate of $MmNi_{4.5}Al_{0.5}$ during the thermally induced hydrogen absorption-desorption cycling are investigated. Comparison of the reaction rate data which are obtained by the pressure sweep method with the theoretical rate equations suggests that the hydriding rate controlling step has changed from the dissociative chemisorption of hydrogen molecules at the surface to the hydrogen diffusion through the hydride phase with the increase of the hydriding fraction. These hydriding kinetic mechanism is not changed during the cycling. However, the intrinsic hydriding reaction rate of $MmNi_{4.5}Al_{0.5}$ after 5500 cycles increases significantly comparing with the activated one. It is suggested that the change of the hydriding kinetic behavior due to intrinsic degradation of $MmNi_{4.5}Al_{0.5}$ can be interpreted as follows ; the formation of nickel cluster at the surface of the sample and the host metal atom exchange in bulk by thermal cycling.

• The Korean Journal of Community Living Science
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• v.19 no.4
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• pp.697-706
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• 2008

Generally, tourism environments are classified as macro or micro environments. Hotel revenues are influenced directly and indirectly by macro and micro environments. This study aims to examine the determinants of the change in macro-environments on hotel revenue. The explanatory variables in this research were wage, exchange rates (ER), consumer price index (CPI) and seasonality. The results of this study were as follows; The CPI and ER significantly affected the hotel food and beverage sales. The seasonality (summer and autumn) and wage significantly affected the hotel room sales. Wage and seasonality (summer and autumn) also significantly affected the total sale on the hotels.

• Journal of Mechanical Science and Technology
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• v.14 no.5
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• pp.553-561
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• 2000

This paper presents a numerical model of multi phase flow of the mixtures of molten material-liquid-vapor, particularly in thermal nonequilibrium. It is a two-dimensional, transient, three-fluid model in Eulerian coordinates. The equations are solved numerically using the finite difference method that implicitly couples the rates of phase changes, momentum, and energy exchange to determine the pressure, density, and velocity fields. To examine the model's ability to predict an experimental data, calculations have been performed for tests of pouring hot particles and molten material into a water pool. The predictions show good agreement with the experimental data. It appears, however, that the interfacial heat transfer and breakup of molten material need improved models that can be applied to such high temperature, high pressure, multi phase flow conditions.

• The Journal of Fisheries Business Administration
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• v.43 no.1
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• pp.49-61
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• 2012

The tax exemption oil for fishery is expecting that the use of oil is gradually decreasing according to the environmental change such as reductions of vessel force caused by an upswing of oil prices and reduction of fishing vessels in the recent. Such reductions in the tax exemption oil amount have a negative effect on the tax exemption oil business and the fishery infrastructure. This paper studied to provide the basic data for a stable supply thorough the facts affected in the use of the tax exemption oil and the prediction for the use of the tax exemption oil in future. This analysis drew a estimation method by Cochrane-Orcutt repeated proceeding model with an object main factors such as a price of tax exemption oil and vessel force and international oil prices and exchange rates. And this analysis also drew the use of a tax exemption oil by 2000 after set up the scenario using an estimation method drawn. For the use of the estimated tax exemption oil analyzed to decrease within about 81 percent of the present(2020), It should be considering a stability plan for tax exemption oil for fishery in future.

• Korean Journal of Agricultural Science
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• v.43 no.3
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• pp.468-480
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• 2016

As the existing FTAs' implementations are being accelerated, ex-post assessments, such as tariff schedules and agricultural trade analyses results, have been emerging as important national issues for the agricultural sector. Korea-Chile FTA is the first FTA in Korea, and more than ten years have passed since April 2004. It will be necessary to measure the impacts of the agreement on the domestic agricultural industry by analyzing concessions made on traded items of farm products on prices, agricultural trade, and so on. The purpose of this study is to prepare for the request for ex-post assessments on the agricultural sector by trade negotiation procedural law. Additionally, by providing policy direction for agricultural policy segments requiring amendments and supplements through an ex-post assessment, we can more objectively evaluate the conflicting arguments between the agricultural and non-agricultural sectors. Current evaluation methods about ex-post impact assessment of FTA are generally comparison analysis on the change of trade balance before and after FTA implementation. However, this simple comparison analysis cannot be said to pure FTA effects and objective, tightening economic impact assessment of the FTA because of all combined situations such as effects of exchange rates, international macroeconomic changes, climate change, and the occurrence of pests. This research attempts to use dynamic analysis as its ex-post assessment methodology and is expected to contribute to future policy evaluation.

• Journal of Service Research and Studies
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• v.7 no.4
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• pp.139-150
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• 2017

Open economy tightly works with foreign economy. This paper investigates the effect of the shock of foreign bond yield on the credit spreads of domestic corporate bonds in Korea. Foreign bond is referred to as US treasury bond. Credit spreads are defined with the difference between log yields of domestic corporate bonds and log yield of Korea treasury bond. With the data of monthly three-year AA- and BBB- corporate bond yields- ratings, monthly three-year Korean treasury bond yields, monthly US dollar foreign exchange rates, and monthly three-year US Treasury bond yields during the period from October 2000 to September 2014 including global financial crisis period, the paper documents the results as follow. First of all, the yield of Korean treasury and the credit spreads are very sensitive to the increase in the level and the volatility of the yield of the US treasury bond. Changes in the level and the volatility little affect the change of the exchange rate. Second, the change in the level and the volatility negatively affect the level of Korean treasury bond yields but lead to the increase in the level of Korean treasury bond yields at the same time. Third, there exist time lags of the increases of credit spreads by the increase in the level and the volatility. These imply that credit spreads and bond yields are very sensitive to the change in the yields of foreign bonds such as US treasury bond.