• Transactions of the Korean Society of Mechanical Engineers A
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• v.37 no.10
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• pp.1261-1267
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• 2013

In multibody mechanical systems, low-degree-of-freedom (DOF) joints such as revolute and translational joints are much more frequently used than high-DOF joints. In order to formulate kinematic constraint equations, especially for low-DOF joints, in an efficient and systematic manner, this paper presents a parametric generalized coordinate formulation as a new approach for describing constraint equations. In the proposed approach, joint constraint equations are formulated in terms of a mixed set of Cartesian and parametric generalized coordinates, which drastically reduces the complexity and computational cost of the partial derivatives of the constraints such as the constraint Jacobian. The proposed formulation is validated using a simple cylinder-crank system with an implicit integrator.

• Transactions of the Korean Society for Noise and Vibration Engineering
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• v.17 no.2 s.119
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• pp.185-193
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• 2007

This paper deals with the application of the numerical differentiation using the differential quadrature(DQ) in the curved member-like structural analysis. Derivative values of the geometry of structure are definitely needed for analyzing the structural behavior. For verifying the numerical differentiation using DQ, free vibration problems of arch are selected. Terms of curvature composed with the derivatives of arch geometry obtained herein are agreed quite well with exact values obtained explicitly. Natural frequencies subjected to terms of curvature obtained by DQ are agreed quite well with those in the literature. The numerical differentiation using DQ can be practically utilized in the structural analysis.

• Journal of the Korea Society of Computer and Information
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• v.26 no.3
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• pp.59-67
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• 2021

Blockchain technology began in 2008 when an unidentified person named Satoshi Nakamoto proposed a cryptocurrency called Bitcoin. Satoshi Nakamoto had distrust of the existing financial system and wanted to implement a financial system that is robust against hacking or mannipulation without a middleman such as a bank through blockchain technology. Satoshi proposed a blockchain as a technology to prevent the creation of the bitcoin and forging of transactions, and through this, the functions of issuance, transaction, and verification of currency were implemented. Since then, Ethereum, a cryptocurrency that can implement the smart contract on the blockchain, has been developed, allowing financial products that require complex contracts such as deposits, loans, insurance, and derivatives to be brought into the area of cryptocurrency. In addition, it is expanding the possibility of substituting products provided by financial institutions through combination with real assets. These applications are defined as Decentralized Finance (DeFi). This paper was prepared to understand the overall technical understanding of DeFi and to introduce the services currently in operation. First, the technologies and ecosystems that implement the overall DeFi are explained, and then the representative DeFi services are categorized by feature and described.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.46
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• pp.265-313
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• 2010

Kyoto Protocol is an international convention on concrete performance program for UNFCCC(United Nations Framework Convention on Climate Change), which regulate and prevent to global warming and officially came into effect on February 16, 2005. Kyoto flexible mechanisms, the agreed environmental system in March 1997 in the Third Conference of Parties in UNFCCC General Assembly, Emission Trading System(ETS), Clean Development Mechanism(CDM) and Joint Implementation(JI), are key policies related to environment. In advanced countries, greenhouse gas emissions should be reduced average 5.2% level compared to 1990 in total emissions during 2008-2012. World leading carbon market finished the trial on the EU ETS I greenhouse gas emissions trading system, EU ETS II is operated regularly after 2008. World Bank leads to make 'Prototype Carbon Fund(PCF)' in April 2004, which is the world first carbon fund and a representative public carbon fund type, World Bank operate various funds including present PCF. Thus, I would like to propose as follows in relation to this study: First, in the validity analysis of carbon funds, it would be needed to analyze the Emission Reduction Cost Efficiency(ERCE) of carbon. The ERCE is a break-even value which brings the Net Present Value(NPV) to zero. NPV approach is used among projects and it enables potential projects to be compared and evaluated the ERCE on the basis of the net present value of net future cash flows. Therefore, according to results of analysis, carbon funds should be developed and invested. Second, it would be necessary to allow of issuing bonds together with carbon funds, carbon finance etc. Third, carbon funds, it would be reasonable to have a relatively enough maturity in project and as a financial derivatives in the international financial markets, it is needed various types of transactions. Fourth, it would be needed to standardize the carbon emissions trading for more efficiently. Fifth, it would be necessary to establish and invest in various kinds of domestic and overseas global carbon funds, including governments, privates, governments and privates sectors. And it is also needed to establish the medium and long term plans for carbon funds. Sixth, it would be needed to foster the advanced trade mechanisms for carbon funds in the most effective ways. Finally, carbon funds should be used in harmony with international societies to reduce global warming as the social responsible investing funds and it should be contribute to sustainable development. In addition, it would seem that carbon funds should be studied on establishing the contributable standard of sustainable development in the future assignment.

• Transactions of the Korean hydrogen and new energy society
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• v.26 no.1
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• pp.21-27
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• 2015

Hydrogen production from commercial diesel fuels is an attactive option for energy generation purpose due to the low cost and good availability of diesel fuels. However, in order to utilize commercial diesel fuels, the sulfur contents must be removed down to approximately 0.1 ppm level to protect the fuel cell catalysts from poisoning. Commercial catalysts $CoMo/Al_2O_3$ and $NiMo/Al_2O_3$ were tested for HDS (Hydrodesulfurization) of model diesel and commercial diesel. The experimental conditions were $250-400^{\circ}C$ and LHSV (Liquid Hourly Space Velocity) $0.27-2.12hr^{-1}$. $NiMo/Al_2O_3$ was found to be more effective than $CoMo/Al_2O_3$ in removing sulfur from model diesel. Based on the experimental results of model diesel, commercial diesel fuel purchased from a local petrol station was tested for HDS using $NiMo/Al_2O_3$. The GC-SCD (Gas Chromatography Sulfur Chemiluminescence Detector) results showed that the DMDBT (Dimethyldibenzothiophene) derivatives were fully removed from the commercial diesel fuel proving that HDS with $NiMo/Al_2O_3$ is technically feasible for industrial applications.

• Journal of Venture Innovation
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• v.1 no.1
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• pp.83-98
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• 2018

This paper makes a theoretical approach to the differences between transaction tax and capital gains tax when the financial instruments are traded and imposed taxes in K-OTC market, a newly emerging off-board market. Since it is difficult to reduce risk to the level which investors would like to pursue - depending on the taxation methods of portfolio-composed financial instruments - when it comes to forming a synthetic bond to hedge risk, this paper also seeks for effective taxation methods to make this applicable. First of all, to thoroughly review the taxation balance of synthetic bonds, this paper analyzed the effects of the transaction tax and capital gains tax imposed upon synthetic bonds according to the changes in final stock price and strike price in K-OTC market, and analyzed after-tax profit differences among them depending on whether income tax deduction took place or not. As a result of the research upon the tax gap in transaction tax and capital gains tax according to the changes of final stock prices, it was shown that imposing transaction tax is more likely to be effective for some level of risk hedging with replicating portfolio considering taxation policies and financial markets, since the effect of the transaction tax has a much lower tax gap than that of capital gains tax. In addition, in relation to whether income tax deduction was permitted or not, it was proved that the effect of the transaction tax and the capital gains tax vary depending on the variation in the strike price. Above all, it was shown that if the strike price is lower than the stock price, the transaction tax will be less affected by the existence of income tax deduction than the capital gains tax, while both will be equally affected by the existence of income tax deduction if the strike price is higher than the stock price. Further study would be to demonstrate the validation of this in the K-OTC market with actual financial instruments and, also, to seek for a more systematic hedging method by using a ratio analysis approach to the calculation of the option transaction tax