• Journal of Distribution Science
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• v.11 no.10
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• pp.73-79
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• 2013

Purpose - This study examines the impact of oil price volatility on economic activities in Korea. The new millennium has seen a deregulation in the crude oil market, which invited immense capital inflow into Korea. It has also raised oil price levels and volatility. Drawing on the recent theoretical literature that emphasizes the role of volatility, this paper attends to the asymmetric changes in economic growth in response to the oil price movement. This study further examines several key macroeconomic variables, such as interest rate, production, and inflation. We come to the conclusion that oil price volatility can, in some part, explain the structural changes. Research design, data, and methodology - We use two methodological frameworks in this study. First, in regards to the oil price uncertainty, we use an Exponential-GARCH (Exponential Generalized Autoregressive Conditional Heteroskedasticity: EGARCH) model estimate to elucidate the asymmetric effect of oil price shock on the conditional oil price volatility. Second, along with the estimation of the conditional volatility by the EGARCH model, we use the estimates in a VECM (Vector Error Correction Model). The study thus examines the dynamic impacts of oil price volatility on industrial production, price levels, and monetary policy responses. We also approximate the monetary policy function by the yield of monetary stabilization bond. The data collected for the study ranges from 1990: M1 to 2013: M7. In the VECM analysis section, the time span is split into two sub-periods; one from 1990 to 1999, and another from 2000 to 2013, due to the U.S. CFTC (Commodity Futures Trading Commission) deregulation on the crude oil futures that became effective in 2000. This paper intends to probe the relationship between oil price uncertainty and macroeconomic variables since the structural change in the oil market became effective. Results and Conclusions - The dynamic impulse response functions obtained from the VECM show a prolonged dampening effect of oil price volatility shock on the industrial production across all sub-periods. We also find that inflation measured by CPI rises by one standard deviation shock in response to oil price uncertainty, and lasts for the ensuing period. In addition, the impulse response functions allude that South Korea practices an expansionary monetary policy in response to oil price shocks, which stems from oil price uncertainty. Moreover, a comparison of the results of the dynamic impulse response functions from the two sub-periods suggests that the dynamic relationships have strengthened since 2000. Specifically, the results are most drastic in terms of industrial production; the impact of oil price volatility shocks has more than doubled from the year 2000 onwards. These results again indicate that the relationships between crude oil price uncertainty and Korean macroeconomic activities have been strengthened since the year2000, which resulted in a structural change in the crude oil market due to the deregulation of the crude oil futures.

• Journal of Sasang Constitutional Medicine
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• v.29 no.4
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• pp.347-368
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• 2017

The aim of this study is to investigate the effect of Zizyphus jujuba var. spinosa Composite oil(ZjJ-C_oil) and Aralia cordata var. continentalis Composite oil(ARC-C_oil) to NC/Nga mice induced in Atopic dermatitis-like skin lesions by DNCB. NC/Nga mice which have been induced to Atopic dermatitis-like skin lesions by DNCB are divided into 4 groups, the first is the mice which have been spread with izyphus jujuba var. spinosa Composite oil(ZjJ-C_oil), the second is the mice which have been spread with Aralia cordata var. continentalis Composite oil(ARC-C_oil), the third is which have been spread with dexamethasone (Dexa.) 0.5% on their Atopic lesion, the last is the control group. Then We analyzed skin clinical score, blood sample of each group of measure state of the dorsal skin, the number of immunocytes, and resect the skin lesion to anlayze the state of cells. There are meaningful results of measuring the number of IgE, IL-4, IL-13, $IFN-{\gamma}$, IL-5, the total cells in ALN, dorsal skin, CD4+ Th, CD11b+/Gr-1+ in PBMCs, CD4+ Th, B220+/CD23+ in ALN, $CD4^+$, $CD8^+$ Th in dorsal skin, the level of COX-2, $TNF-{\alpha}$, $TGF-{\beta}1$, IL-4, IL-13 mRNA, the state of the skin lesion and cells in the group with ZjJ-C_oil, ARC-C_oil cream in comprarison with the control group.

• Journal of Korea Foresty Energy
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• v.21 no.2
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• pp.34-42
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• 2002

This research was carried out to investigate water repellent effectiveness of natural oil treated wood. Linseed oil, castor oil, olive oil, bean oil, perilla oil and sunflower oil were used in this test. For evaluation of water repellent of natural oil treated wood, moisture absorption test, water-drop contact angle test and color difference test of accelerated decomposition by UV and water were used. The moisture absorption amount of natural oil treated wood was less than untreated wood until 3 hours, but it was increased with time, there was no big difference with oil treated wood and untreated wood after 48hours. Oil treated wood and untreated wood showed big difference on contact angle test. It was no big difference by kind and oil concentration. Natural oil treated wood did not showed stability on the weather aging test. Contact angle test could be used on evaluation of wood surface status treated with natural oil.

• Tribology and Lubricants
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• v.22 no.5
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• pp.260-268
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• 2006

The dielectric constants of used gasoline engine oils were obtained at a few temperatures and a frequency. Through analyzing the characteristics of dielectric constant, the related correlation between the changes in dielectric constants of oil and the degree of oil deterioration is going to be found. The dielectric constant was calculated using cross capacitances measured by a sensor tube. As results of the measurement of the fresh engine oil's dielectric constant, it was found that the value of dielectric constant was set down below $60^{\circ}C$ regardless changing frequency. Further, above 6 kHz, the dielectric constant was set down even if temperature was above $100^{\circ}C$ Therefore, for the measurement of used oils, it was selected the frequency of 6 kHz,,and the temperature of $80^{\circ}C$ preventing a certain ionic-conduction effects on the measured dielectric constant and the evaporation of a certain fluid mixed with engine oil. Specially, the effects of the mixing fluid like coolant, water and fuel on the fresh engine oil's dielectric constant were studied. It was found that the oil mixed with coolant showed the highest value, next water, and the lowest fuel. As results of the measurement of the used engine oil's dielectric constant, it was found that the possible changed rate of the used engine oil's dielectric constant based on the warning limit for engine oil in service was below 4% for gasoline engine oil.

• Tribology and Lubricants
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• v.22 no.5
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• pp.290-300
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• 2006

The dielectric constants of used diesel engine oils were obtained at a few temperatures and a frequency. Through analyzing the characteristics of dielectric constant, the related correlation between the changes in dielectric constants of oil and the degree of oil deterioration is going to be found. The dielectric constant was calculated using cross capacitances measured by a sensor tube. As results of the measurement of the fresh engine oil's dielectric constant, it was found that the value of dielectric constant was set down below $60^{\circ}C$ regardless changing frequency. Further, above 6 kHz, the dielectric constant was set down even if temperature was above $100^{\circ}C$. Therefore, for the measurement of used oils, it was selected the frequency of 6 kHz, and the temperature of $80^{\circ}C$ preventing a certain ionic-conduction effects on the measured dielectric constant and the evaporation of a certain fluid mixed with engine oil. Specially, the effects of the mixing fluid like coolant, water and fuel on the fresh engine oil's dielectric constant were studied. It was found that the oil mixed with coolant showed the highest value, next water, and the lowest fuel. As results of the measurement of the used engine oil's dielectric constant, it was found that the possible changed rate of the used engine oil's dielectric constant based on the warning limit for engine oil in service was below 10% for diesel engine oil.

• Journal of Korean Society of Water and Wastewater
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• v.12 no.2
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• pp.31-41
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• 1998

As the leakage of crude oil from tankers breaks out frequently, it caused a serious problem for ocean pollution and calls for developing treatments to handle the leaked crude oil and mitigate the pollution. Thus it is required to develop new purification technolgies and appropriate treatment systems which have sufficient treatment capability in order to cope with the anticipated ocean pollution. In this experiment, A and B type heavy oils were used to make the emulsion of both water containing heavy oil and sea-water containing heavy oil. The following are the main results from this study ; 1. When A and B type heavy oils were added to the original sea-water and treatedin the homogrenizer respectively, the particle of oil beacame smaller in both cases. Under the same condition, while the initial oil density of sea-water containing B-heavy oil is higher than of emulsion with A-heavy oil, the particle of A-heavy oil is finer than that of B-heavy oil. 2. When A and B type heavy oils were added to distilled water and treated in the homogenizer respectively, the particle was more dispersed and finer than that in the case of sea-water in both cases. In this result, the water containing oil formed more stable emulsion than the sea-water containing oil. 3. In this experiment, all emulsions showed oil in water types. 4. Since the oil particle is larger in the sea-water than in the distillated water, interms of elimination of oil, it is thought to be more important to give Membrane treatment after implementing sandfilter, activity carbon, coagulation-sedimentation and floating separation as pre-treatment.

• Journal of the Korean Society of Food Culture
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• v.26 no.5
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• pp.513-520
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• 2011

This study was carried out to investigate the physicochemical properties of mung bean starch and the texture of cold-stored (5$^{\circ}C$ for 0, 24, 48, and 72 hours) mung bean starch gels added with soy bean oil (0, 2, 4, 6%). The swelling power of mung bean starch added with soy bean oil did not significantly change, whereas solubility increased significantly. Soluble carbohydrate content of mung bean starch added with soy bean oil decreased without any significant differences, whereas soluble amylose content decreased significantly. In RVA viscosity, pasting temperature and peak viscosity of mung bean starch added with soy bean oil were not significantly different, whereas minimum viscosity decreased and breakdown and consistency increased significantly. In RVA viscosity, there were no differences according to concentration of soy bean oil. DSC thermograms show that onset temperature of mung bean starch added with soy bean oil did not significantly change, whereas the enthalpy increased in the case of 4% and 6% oil addition. Rupture properties of freshly prepared mung bean starch gels added with soy bean oil increased in the case of 2% and 4% oil addition, and oil addition to mung bean starch gels suppressed changes in rupture properties during cold storage. There were no significant differences in the texture of freshly prepared mung bean starch gels added with soy bean oil, whereas hardness, chewiness, and gumminess of cold-stored mung bean starch gels added with soy bean oil decreased. In the above textural charactristics, there were no differences due to concentration of soy bean oil. Thus, the addition of 2-4% soy bean oil to mung bean starch is appropriate for improving the quality characteristics of cold-stored mung bean starch gels.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.27 no.1
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• pp.64-68
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• 1991

In this paper, to percuss whether fish oil can substitute for marine fuel oil, the characteristics on the evaporation and ignition of 3 fish oils, Sardine oil, File fish oil and Alaska pollac oil, were investigated experimentally by suspending single fish oil droplel in hot atmosphere, and experiments on methanol and light oil were also carried out to compare the characteristics. The results abtained are summarized as follow; 1) Evaporation and ignition phenomena on the methanol and light oil by the present experimental method agreeded with the results of the earlier investigation. 2) The characteristic on evaporation and ignition of all 3 fish oils took the same pattern; in late stage of evaporation at atmospheric Temperature 55$0^{\circ}C$ droplet rapidly expanded and contracted, and then remained solid corbide, but in case of $650^{\circ}C$ rapidly expanded and ignitied, and then completly burned non-remained solid carbide. 3) As fish oil mixed with light oil (50% weight), in beginning stage of evaporation droplet depended on the characteristics of light oil, but in end stage depended on fish oil. 4) Ignition temperature of fish oil droplets was about 47$0^{\circ}C$, higher than about 25$0^{\circ}C$ of light oil, but atmospheric temperature to ignite droplet was about $650^{\circ}C$, lower than about 75$0^{\circ}C$ of light oil.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.19 no.10
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• pp.718-725
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• 2007

In the general vapor-compression refrigeration system, refrigeration lubricant circulates in refrigeration system with refrigerant. Knowledge of the amount of circulating lubricant is very important to exactly calculate capacity of the refrigeration system. An experimental study was conducted to estimate the oil concentration of a flowing $CO_2/Oil$ mixtures. POE and PAG oil are considered as test lubricants in this study. Performance tests were conducted under simulated liquid conditions for $CO_2/POE$ oil mixture in oil concentration of 0 to 10 weight-percent and $CO_2/PAG$ oil mixture in oil concentration of 0 to 6 weight-percent in the temperature ranges of $-5^{\circ}C\;to\;15^{\circ}C$. The results obtained indicate specific gravity of $CO_2/Oil$ mixture is increased as oil concentration is increased and as temperature of mixture is decreased. Oil concentration correlation of $CO_2/POE$ oil mixture and $CO_2/PAG$ oil mixture is suggested, based on the measurement of specific gravity and temperature. This correlation enable to predict the oil concentration without extraction of the mixture and can be applied for $CO_2/POE$ mixtures and $CO_2/PAG$ mixtures.

• Applied Chemistry for Engineering
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• v.5 no.3
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• pp.419-424
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• 1994

An oil stain on the steel induced by metal working oil was studied on the six kinds of fat and oil compounds(rapeseed oil, oleic acid, methyl oleate, oleyl alcohol, lauryl amino, and lanolin) by MIL-C-22235A test. The samples used for the printing on the oil stain plates were prepared by the addition of fat and oil compounds(10wt% ) and antioxidants(B. H. T, B. T, T. C. P; 0.5wt%) to base oil(spindle oil; 1.5wt% of sulfur). An analysis based on the experimental data indicated that B.T was more effective than B. H. T and T. C. P as antioxidant for inhibiting oil stains. And acid values exerted a bad influence upon the preventation of oil stains. As expected by the chemical structure of fat and oil compound, oleic acid that could react with iron ions produced more stains on the steel pannel.