• Journal of the Society of Naval Architects of Korea
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• v.31 no.1
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• pp.94-101
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• 1994

This paper describes a short-term prediction model for the movement of an oil slick in shallow waters. Under the assumption that the initial movement of the oil slick is governed by spreading and advection, the model has been developed and applied to Kyungki-Bay near Incheon Harbor. The initial spreading is estimated by using an empirical formula. The depth-averaged momentum equations are solved numerically for the volume transport velocities, in which the $M_2$ tide is the main driving source. A staggered grid system is adopted fur spatial discretization and the half-time method is implemented for time marching. The numerical result is visualized with the help of animation and thus the contaminated area is displayed on a monitor in time sequence. The input data are the time, the location and the volume of spill accident as well as environmental data such as md and $M_2$ tide.

• Journal of the Korean Society of Marine Environment & Safety
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• v.6 no.1
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• pp.69-76
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• 2000

Bubble boom may be a good alternative for the prevention of oil spill pollution due to its easy deployment and clean post-process tasks. The present work is focused on the experimental investigation of air bubble movement for the bubble boom by visualization and quantitative PIV measurements. Bubble plume was generated by adjusting the pressure of pressure vessel ranging 6.7 kpa to 14.7 kpa. The results showed at lower inlet velocity and higher supply air flow rate that bubble boom maintained its containing capability reasonably well up to the maximum containing limit.

• Proceedings of the Korean Institute of Electrical and Electronic Material Engineers Conference
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• 1996.05a
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• pp.211-215
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• 1996

In this paper, the volume resistivity of transformer oil is made researches so that the electrical properties for transformer oil is investigated. The specimen is produced by the irradiation of electron beam classified into the low dose, such as 0.5[Mrad], 1[Mrad], 2[Mrad]. The effect of electron team irradiation is studied by investigating the electrical properties of dielectric liquid due to the difference of electron beam dose. To measure the physical properties of transformer oil, courier Transform-Infrared Spectroscopy is investigated. And the study far the electrical properties is made by measuring the volume resistivity of each specimen. By means of the result from this experiments, it is introduced that the movement of carrier to contribute to the volume resistivity on the electrical properties.

• Asia-Pacific Journal of Business
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• v.13 no.2
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• pp.39-50
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• 2022

Purpose - The purpose of this study is to examine how Korea's macroeconomic factors, such as GDP, CPI, Export, Import, Unemployment rate and USD/KRW exchange rate, are affected by the oil price shocks. Design/methodology/approach - This study used monthly and quarterly time-series data of each variable for the period 1983 to 2022, consisting of two sub-periods, to employ Granger causality test and GARCH method in order to identify the role of the oil price movement in macroeconomic factors in Korea. Findings - Korea's currency rate to the US dollar is negatively correlated with the price change of crude oil while the GDP change is positively correlated with the price change of crude oil with strong relationship between Export and Import in particular. The exchange rate and GDP growth are believed to be not correlated with the oil price change for the pre-GFC period. According to the Granger causality test, the price change in crude oil has a causal impact on CPI, Export and Import while other factors are relatively slightly affected. Transmission effect from the oil price to Export is found and there also exists volatility spillover from oil price to economic variables under examination. Comparing two sub-periods, CPI and Export volatility responds negatively to shocks in the oil price for the pre-GFC period while volatility of CPI and Unemployment reacts positively to the oil price shocks for the post-GFC period. Research implications or Originality - The findings of this study could be helpful for both domestic and international investors to build their portfolio for the risk management since rising WTI price can be interpreted as a result of global economic growth and ensuing increase in the worldwide demand of the crude oil. Consequently, the national output is expected to increase and the currency is also expected to be strong in the long run.

• Journal of Korea Trade
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• v.27 no.5
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• pp.167-198
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• 2023

Purpose - This paper aims to compare and analyze the co-movements and information spillover effects between the international commodity futures markets and the South Korean stock markets during the COVID-19 and the 2008 financial crises. Design/methodology - The DCC-GARCH model is used in the co-movements analysis. In contrast, the BEKK-GARCH model is used to evaluate information spillover effects. The statistical data used is from January 1, 2005, to December 31, 2022. It comprises the Korea Composite Stock Price Index data and daily international commodity futures prices of natural gas, West Texas Intermediate crude oil, gold, silver, copper, nickel, soybean, and wheat. Findings - The results of the co-movement analysis were as follows: First, it was shown that the co-movements between the international commodity futures markets and the South Korean stock markets were temporarily strengthened when the COVID-19 and 2008 financial crises occurred. Second, the South Korean stock markets were shown to have high correlations with the copper, nickel, and crude oil futures markets. The results of the information spillover effects analysis are as follows: First, before the 2008 financial crisis, four commodity futures markets (natural gas, gold, copper, and wheat) were shown to be in two-way leading relationships with the South Korean stock markets. In contrast, seven commodity futures markets, except for the natural gas futures market, were shown to be in two-way leading relationships with the South Korean stock markets after the financial crisis. Second, before the COVID-19 crisis, most international commodity futures markets, excluding natural gas and crude oil future markets, were shown to have led the South Korean stock markets in one direction. Third, it was revealed that after the COVID-19 crisis, the connections between the South Korean stock markets and the international commodity futures markets, except for natural gas, crude oil, and gold, were completely severed. Originality/value - Useful information for portfolio strategy establishment can be provided to investors through the results of this study. In addition, it is judged that financial policy authorities can utilize the results as data for efficient regulation of the financial market and policy establishment.

• Journal of the Korean Society for Marine Environment & Energy
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• v.4 no.1
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• pp.38-46
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• 2001

To assess the oil-containment effectiveness of tandem oil fences placed in currents, the movement of oil droplets in the fore and aft region of the fences is investigated by experimental and numerical methods. The effect of the flexibility of the fence skirt of single fence on the fence effectiveness is also investigated. Laboratory experiment is conducted to trace the path of a spherical solid particle of equivalent density to an oil droplet which was released in a uniform stream ahead of a model oil fence. Depending upon the releasing position and the flow condition there, it was observed that the particle floated up to the free surface, collided with the fence, or escaped below the fence. By analyzing the droplet trajectories, a numerical method is developed to predict the region ahead of the fore fence where an oil droplet initiating its motion eventually escapes beneath the fence. The effect of the relative sizes of the drafts of the fore and aft fences, the fence separation, and the bottom depth of the sea bed on the effectiveness of tandem fences is investigated using the numerically obtained trajectories of oil droplets.

• Journal of Environmental Health Sciences
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• v.38 no.6
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• pp.529-540
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• 2012

Objective: This research was performed to evaluate the state of oil pollution in an area surrounding a railway station that has over 100 years of business history as a railway station in S City, Korea. The amount of polluted soil was estimated, and the target area for remediation was assessed in this study to restore the oil-polluted area. Methods: To accomplish this aim, five observation wells were installed for the sampling of groundwater, and soil was sampled at 33 points. Electric resistance studies and a trench investigation were undertaken to understand the geological conditions of the site, and the groundwater movement in this area was simulated by MODFLOW. Physiochemical analyses were conducted to determine the quality of the groundwater and the current state of oil pollution influenced by that of the soil. Results: The mean level of total petroleum hydrocarbons (TPHs) in this area was 1,059 mg/kg, and the area for remediation was determined to be 7,610 mg/kg. Levels of benzene, toluene, ethylbenzene, and xylene (BTEX) were determined to be under the legal standard. Conclusion: In terms of depth, the biggest area polluted by TPH found was between 0 and 1 m from ground level, and the affected area was 5,900 $m^3$. TPHs were not detected in groundwater. Diesel and lubricating oil were the main causes of TPH pollution at this railway station.

• Tunnel and Underground Space
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• v.3 no.1
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• pp.24-32
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• 1993

Groundwater movement is one of the most important elements in the construction and management of underground oil storage cavern. To control the groundwater flow, grouting is run in parallel with water curtains. But as traditional grouting is conducted within cavern before and after excavation, the effect of grouting is delayed and the injection sphere is limited in the rock mass. Therefore, it is desirable to introduce a more extensive and effective grouting. This article is to present the caly grouting, which was the first to be carried out in the construction of underground caverns for oil storage in Japan. After conducting the clay grouting, the effect was confirmed by ground water level and infiltration quantity to the caverns.

• Journal of the Korean Society for Precision Engineering
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• v.14 no.11
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• pp.11-16
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• 1997

In the stroke sensitive shock absorber, the oil path is formed along the internal cylinder surface to make the oil flow during the piston's upper-lower reciprocation movement. In constrast with the conventional shock absorbesr which show one dynamic characteristic curve, stroke sensitive shock absorber shows two kinds of dynamic characteristics according to the stroke. In this study, in order to obtain more precise information about design and damping performance analysis, the analysis on the damping force generation process and dynamic behaviour characteristics of stroke sensitive shock absorber are performed by considering the valve characteristics.

• 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.