• Title/Summary/Keyword: Forward Market

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Feasibility Evaluation & Strategy of Replacement of Power Generation Fuel by Using Bio-diesel (바이오 디젤의 발전용 연료화 타당성 평가)

  • Hur, Kwang-Beom;Park, Jung-Keuk;Rhim, Sang-Gyu;Lee, Jung-Bin
    • 한국신재생에너지학회:학술대회논문집
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    • 2009.06a
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    • pp.806-812
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    • 2009
  • Availability of reliable and affordable energy supply is a prerequisite for economic growth. Renewables are the third largest contributor to global electricity production after coal and natural gas and account for a share of 18%. Power generating capacity from renewables has increased to around 900GW by the year 2007. Today biodiesel fuels have been in commercial use in many countries and recently the world-wide biodiesel market has experienced considerable growth, which is partly due to various tax concession programs and other financial incentives. In Korea, biodiesel has already been used for transportation fuel, but not used for power generation fuel yet. Korean government has a strategy for renewable energy propagation, especially the goal of power generation amount by renewable energy is 3% of total power production by 2012. This paper focuses on the feasibility study for adaptability and strategy of using biodiesel as power generation fuel. The study also has the plan to replace the fuel of thermal power plant, gas turbine and distributed power system. As the increase of biodiesel fuel, I look forward to environment-friendly power generation and the strategy of Renewable Portfolio Standards(RPS).

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Total Disc Replacement in Lumbar Degenerative Disc Diseases

  • Park, Chun Kun
    • Journal of Korean Neurosurgical Society
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    • v.58 no.5
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    • pp.401-411
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    • 2015
  • More than 10 years have passed since lumbar total disc replacement (LTDR) was introduced for the first time to the world market for the surgical management of lumbar degenerative disc disease (DDD). It seems like the right time to sum up the relevant results in order to understand where LTDR stands on now, and is heading forward to. The pathogenesis of DDD has been currently settled, but diagnosis and managements are still controversial. Fusion is recognized as golden standard of surgical managements but has various kinds of shortcomings. Lately, LTDR has been expected to replace fusion surgery. A great deal of LTDR reports has come out. Among them, more than 5-year follow-up prospective randomized controlled studies including USA IDE trials were expected to elucidate whether for LTDR to have therapeutic benefit compared to fusion. The results of these studies revealed that LTDR was not inferior to fusion. Most of clinical studies dealing with LTDR revealed that there was no strong evidence for preventive effect of LTDR against symptomatic degenerative changes of adjacent segment disease. LTDR does not have shortcomings associated with fusion. However, it has a potentiality of the new complications to occur, which surgeons have never experienced in fusion surgeries. Consequently, longer follow-up should be necessary as yet to confirm the maintenance of improved surgical outcome and to observe any very late complications. LTDR still may get a chance to establish itself as a substitute of fusion both nominally and virtually if it eases the concerns listed above.

An Empirical Study on the Impact of Trade Facilitation on China's Export Trade

  • ZHAO, Xinyu;ZHANG, Fan
    • The Journal of Industrial Distribution & Business
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    • v.11 no.9
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    • pp.7-16
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    • 2020
  • Purpose: Many studies show that promoting the development of trade facilitation has a positive role in stimulating the country's foreign trade. Therefore, it is of great practical significance to study the development level of trade facilitation for China's export trade. Research design, data and methodology:This study analyzes the growth trend of China's export trade volume in 2009-2019, the characteristics of China's export trade market according to the top 18 major exporting countries in 2017-2018, the structure of export commodities to understand China's economic development level, and compares the total amount of trade exported to all uses this to measure the level of trade development. On this basis, this paper selects the 2011-2018 Trade Facilitation Index and C continents to study the development trend. Based on the theory of trade facilitation, this paper constructs the Trade Facilitation Index, and hina's export trade volume for empirical research. Results: The results show that trade facilitation has a positive and significant impact on the development of China's export trade. Conclusions: Based on the analysis of the actual situations and empirical results, this paper puts forward some suggestions to promote the level of trade facilitation in order to promote the development of import and export trade.

A Study on Application of Systems Engineering Technical Process to FEED in Plant construction Industry - focused on a case of Environmental Plant (플랜트 FEED 설계를 위한 시스템엔지니어링 기술프로세스 적용방안 연구 - 환경플랜트 사례를 중심으로)

  • Ki, Wan Wook;Kim, Jun Pil;Hong, Dae Geun;Suh, Suk-Hwan
    • Journal of the Korean Society of Systems Engineering
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    • v.9 no.2
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    • pp.37-53
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    • 2013
  • With rapid growth of the world plant market, an increasing attention is paid on the plant engineering. Up to present time, Korean plant engineering technology has been concerned with the down stream part of the plant engineering, so called EPC, considered as a lower value chain compared with the up stream, composed of FEED(Front End Engineering Design) and PMC(Project Management Consultancy). In other words, a key issue for Korean plant industry is how to catch up the FEED technology, currently occupied by the advanced countries. In this paper, we propose an SE(Systems Engineering) approach, conventionally applied for aerospace and defense industry, to the FEED for plant engineering. Specifically, we proposed a new SE process composed of: 1) SPA matrix for reverse systems engineering, and 2) PPA matrix for forward systems engineering. To illustrate the proposed method, a case study for an environmental plant is performed.

Towards an Innovation-driven Nation: The 'Secondary Innovation' Framework in China

  • Wu, Xiaobo;Li, Jing
    • STI Policy Review
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    • v.6 no.1
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    • pp.36-53
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    • 2015
  • The rise of latecomer countries across the world directs academic attention to their catching-up and innovation processof seizing technological opportunities and combining internal and external knowledge. Different from the developed economies as well as the newly industrialized economies, China presents a special innovation environment, wherein its technology regime, market opportunities, and institutions are complex and the globalization trend affects competition in a broader way. In thiscontext, we clarify and extend the framework of "secondary innovation". This framework describes the dynamics of those with relatively poor resources and capabilities in their efforts to capture the values of mature/emerging technology or business models by acquiringthem from across borders and then adapting to catching-up contexts. Such processes, differentiated from original innovation that involves the whole process from R&D to commercialization, has become a prevailing regime during paradigm shifts. In particular, unlike the traditional catch-up literature that focuses more on technology, the secondary innovation framework inclusively contains both technology and business model innovation, and puts forward the co-evolution between the two elements, which is more applicable to China's context. In accordance, we also provide implications towards fulfilling the goal of building an innovation-driven nation.

South Korea's Shipbuilding Industry: From a Couple of Cathedrals in the Desert to an Innovative Cluster

  • Hassink, Robert;Shin, Dong-Ho
    • Journal of Technology Innovation
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    • v.13 no.2
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    • pp.133-155
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    • 2005
  • After the publication of the competitive advantage of nations by Porter in 1990, the competitiveness of regional concentrations of industries has been often explained by the cluster concept. There are many definitions of clusters, but they mainly boil down to a geographically proximate group of interconnected companies and associated institutions in a particular field, linked by commonalities and complementarities. The shipbuilding industry in Korea can for sure be regarded as a competitive industry, as the spectacular rise of its world market share from 2% in the early 1970s to the current 38% impressively testifies, but can it be considered a cluster? Based on an analytical framework consisting of a typology of clusters and a context-sensitive evolutionary approach, the paper will show that over the last thirty years Korea's shipbuilding developed from a mere number of isolated, large shipyards (cathedrals in the desert) established by large conglomerates (chaebol) in close collaboration with the central government into an innovative cluster. The cluster is on the one hand characterised by a strongly developed supply industry and specialised universities and research institutes, but on the other hand by a weak, yet increasing role for local and regional institutions The specific and context-dependent characteristics of this innovative cluster are more important explanations for its competitiveness than the financial interventions by the central government, which are repeatedly put forward by European policy-makers in their trade war with Korea.

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Feasibility Evaluation & Strategy of Replacement of Power Generation Fuel by Using Bio-diesel (바이오 디젤의 발전용 연료화 타당성 및 추진전략)

  • Hur, Kwang-Beom;Park, Jung-Keuk;Rhim, Sang-Gyu;Kim, Sung-Chul
    • New & Renewable Energy
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    • v.5 no.1
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    • pp.32-39
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    • 2009
  • Availability of reliable and affordable energy supply is a prerequisite for economic growth. Renewables are the third largest contributor to global electricity production after coal and natural gas and account for a share of 18%. Power generating capacity from renewables has increased to around 900GW by the year 2007. Today biodiesel fuels have been in commercial use in many countries and recently the world-wide biodiesel market has experienced considerable growth, which is partly due to various tax concession programs and other financial incentives. In Korea, biodiesel has already been used for transportation fuel, but not used for power generation fuel yet Korean government has a strategy for renewable energy propagation, especially the goal of power generation amount by renewable energy is 3% of total power production by 2012. This paper focuses on the feasibility study for adaptability and strategy of using biodiesel as power generation fuel. The study also has the plan to replace the fuel of thermal power plant, gas turbine and distributed power system. As the increase of biodiesel fuel, I look forward to environment-friendly power generation and the strategy of Renewable Portfolio Standards(RPS).

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Resident's opinions about reconstructing the old-aged and deteriorated in Ulsan city (노후 아파트 재건축에 관한 거주자의 의식 조사연구 - 울산시를 중심으로 -)

  • 박현옥
    • Journal of the Korean housing association
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    • v.7 no.2
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    • pp.131-137
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    • 1996
  • This study was aimed at providing valuable information that can help the government and the housing development staff deal with the problem with ‘Redevelopment Apartment Rehabilitation’ in Ulsan city.For the purpose of this study, questionaire are constructed with contents about socio-demography factors, housing factors. attitute forward reconstruction, and housing needs of respondents. questionaire were collected from 232 housewives living in old-aged and deteriorated apartment houses in Ulsan. Apartment houses of respondents are 5 floor. more than 100unit houses. and above 10 years old the living size of apartmet is less than 25 pyoung(82.5m2) per unit house and average living size is 16~20 Pyoung(52.8m2~66.Om2)/unit house. Average family size is 4-5 persons. and average income is about 1,200,000 Won(about $ 1,500) Per month. The major findings are as follows :First, they want the reconstruction of old-aged and deteriorated apartment house very positively.Second. they want high rise building, more lager parking lot. market. sports facility. and play yard for children. Third they want that size of unit house is 26~30 pyoung85.8m2~99.0m2). the number of room is 3~4, the number of bathroom is 1-2. and type of access is stair style.

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An study on the Architectural Visual Identity of Apartment Plan (아파트 계획에 있어서 건축적 시각 아이덴티티에 관한 연구)

  • Lee, Dong-Ho;Lee, Seung-Jo;Lee, Kyoung-Hun;Kim, Yong-Seong
    • Proceeding of Spring/Autumn Annual Conference of KHA
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    • 2003.11a
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    • pp.277-282
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    • 2003
  • The purpose of this study is to investigate the architectural visual identity, and scheme of conceptional extent of architectural visual identity through literature research and sample analysis by design factors for apartment design. Korea National Housing Corporation's Mapo apartment put first caterer which is continued about 30 years to solve shortage of houses by beginning and the impact of IMF and the price decontrol on second half in the 1990s have changed the housing status to commercial goods. Construction companies have introduced brand concept to satisfy consumer's appetite in production of house goods including apartment under market situation. Importance of visual identity in apartment design occupies has risen in heftily. However most companies are in condition of stay on two-dimensional application that uses symbol, logotype, and character assistance. Several high position construction companies are trying architectural visual identity, but those are applied in partial element and those are not going forward to systematic classification and synthetic visual identity plan within peculiarity of apartment complex. This study is to grasp plan and design tendency to acquire identity of design element of construction field and goods through design examination. In conclusion visual identity in apartment design is architectural visual identity on all of 2 dimensions and 3 dimension for application. Architectural visual identity is a language of form that prescribe identity about external appearance in combination with brand image.

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Performance Analysis of Economic VaR Estimation using Risk Neutral Probability Distributions

  • Heo, Se-Jeong;Yeo, Sung-Chil;Kang, Tae-Hun
    • The Korean Journal of Applied Statistics
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    • v.25 no.5
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    • pp.757-773
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    • 2012
  • Traditional value at risk(S-VaR) has a difficulity in predicting the future risk of financial asset prices since S-VaR is a backward looking measure based on the historical data of the underlying asset prices. In order to resolve the deficiency of S-VaR, an economic value at risk(E-VaR) using the risk neutral probability distributions is suggested since E-VaR is a forward looking measure based on the option price data. In this study E-VaR is estimated by assuming the generalized gamma distribution(GGD) as risk neutral density function which is implied in the option. The estimated E-VaR with GGD was compared with E-VaR estimates under the Black-Scholes model, two-lognormal mixture distribution, generalized extreme value distribution and S-VaR estimates under the normal distribution and GARCH(1, 1) model, respectively. The option market data of the KOSPI 200 index are used in order to compare the performances of the above VaR estimates. The results of the empirical analysis show that GGD seems to have a tendency to estimate VaR conservatively; however, GGD is superior to other models in the overall sense.