• Economic and Environmental Geology
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• v.56 no.2
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• pp.155-166
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• 2023

Through COVID-19, the importance of supply chain management of raw material minerals has been maximized. In particular, supply chain management is important for rare metals, which are difficult to manage demand and supply, in order to secure raw materials for the parts and materials industry that Korea is actively promoting. In this study, a system was established and evaluated to select Critical minerals that need to respond to Korea's industrial structure and global risks by quantifying tangible and intangible risk factors. Global Supply Concentration, Supplying country risk, Policy Social Environment Regulation, Domestic Import Instability, Risk responsiveness, Market Scale, Demand Fluctuation and Economic Importance were evaluated as evaluation indicators. The degree of risk and risk impact were quantitatively measured using the criticality matrix-criticality level. After evaluating 40 types of minerals used in domestic new growth businesses, 15 types of Critical minerals(Li, Pt, Co, V, REE, Mg, Mo, Cr, Ti, W, C, Ni, Al, Mn, Si) in Korea were selected. The results are expected to be used to establish policies to strengthen resource security and to make decisions to form a company's raw material portfolio.

• (The)Korea Educational Review
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• v.24 no.1
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• pp.227-254
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• 2018

This study examines differences in perception between applicants and admissions committee members regarding evaluation criteria for admission to career and technical high schools in Seoul. This investigation, based on "The survey on policy for career and technical high school admissions," seeks to explore and consider the various criteria for selecting and evaluating students. The target populations of the survey were the educators in charge of admission and freshmen in Seoul career and technical high schools. We report three major findings, with the first pertaining to the existing criteria and policies for admission to career and technical high schools. While educators agreed with the intent and reasoning behind the school's competitive spots, they were overall dissatisfied with the selection method and the lack of a requirement for academic transcripts. Matriculated students, in comparison, expressed greater satisfaction with the existing criteria for admission. Secondly, when assessing the importance of various evaluation components in an application, educators viewed the interview and attendance record as the most valuable components of the application, followed by future plans, personal statement, volunteer work, and portfolio, in order of decreasing importance. Students ranked attendance record, interview, personal statement, portfolio, future plans, and volunteer work as most to least important components of their application. Thus, students regarded the personal statement and portfolios as being of higher priority than did the educators. The last major finding pertained to students' rationale for applying and educators' selection criteria. At the time of application, students focused on aptitude and job prospects after graduation, while educators valued personality and competence. In summary, the applicants' viewpoints and actions aligned much more closely with the mission of the Seoul Metropolitan Office of Education than did those of the educators in charge of admission. Thus, in order to establish a consensus between the policy and mission of career and technical high schools, each career and technical high school should clarify the exact criteria for their ideal candidate. There is also a need to bridge the gap in perception between the applicants and educators regarding selection strategy, to establish a harmonized evaluation criteria. These goals are necessary to attract and recruit talented, bright individuals who will meet the demands of today's society.

• KEPCO Journal on Electric Power and Energy
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• v.2 no.4
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• pp.525-529
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• 2016

Biomass co-firing to existing thermal power plants is one of the most economical and efficient way to reduce $CO_2$ emission from the plant. There are several methods of co-firing and it can be categorized into (1) Parallel co-firing, (2) Indirect co-firing, and (3) Direct co-firing. Parallel co-firing is the most expensive way to high-ratio co-firing because it requires biomass dedicated boiler. Direct co-firing is widely used because it does not need high capital cost compared with the other two methods. Regarding the direct co-firing, it can be classified into three methods- Method 1 does not need retrofit of the facilities because it uses existing coal mills for pulverizing biomass fuels. In this case high-ratio co-firing cannot be achieved because of poor grindability of biomass fuels. Method 2 needs biomass-dedicated mills and revision of fuel streams for the combustion system, and Method 3 needs additional retrofit of the boiler as well as biomass mills. It can achieve highest share of the biomass co-firing compared with other two methods. In Korea, many coal power plants have been adopting Method 1 for coping with RPS(Renewable portfolio standards). Higher co-firing ratio (> 5% thermal share) has not been considered in Korean power plants due to policy of limitation in biomass co-firing for securing REC(Renewable Energy Certificate). On the other hand, higher-share co-firing of biomass is widely used in Europe and US using biomass dedicated mills, following their policy to enhance utilization of renewable energy in those countries. Technical problems which can be caused by increasing share of the biomass in coal power plants are summarized and discussed in this report. $CO_2$ abatement will become more and more critical issues for coal power plants since Paris agreement(2015) and demand of higher share of biomass in the coal power plants will be rapidly increased in Korea as well. Torrefaction of the biomass can be one of the best options because torrefied biomass has higher heating value and grindability than other biomass fuels. Perspective of the biomass torrefaction for co-firing is discussed, and economic feasibility of biomass torrefaction will be crucial for implementation of this technology.

• Journal of the Korean Society for Marine Environment & Energy
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• v.14 no.1
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• pp.51-64
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• 2011

Carbon dioxide Capture and Storage (CCS) is one of the key players in greenhouse gas (GHG) reduction portfolio for mitigating climate change. CCS makes simultaneously it possible not only to reduce a huge amount of carbon dioxide directly from the emission sources (e.g., coal power plant) but also to maintain the carbon concentrated-energy and/or industry infrastructure. Internationally, the United Nations Framework Convention on Climate Change (UNFCCC) is dealing the agenda for considering the possibility of including CCS project as one of Clean Development Mechanism (CDM) projects. Despite its usefulness, however, there are the controversies in including CCS as the CDM project, whose issues include i) non-permanence, including long-term permanence, ii) measuring, reporting and verification (MRV), iii) environmental impacts, iv) project activity boundaries, v) international law, vi) liability, vii) the potential for perverse outcomes, viii) safety, and ix) insurance coverage and compensation for damages caused due to seepage or leakage. In this paper, those issues in considering CCS as CDM are summarized and analyzed in order to suggest some considerations to policy makers in realizing the CCS project in Korea in the future.

• Environmental and Resource Economics Review
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• v.14 no.4
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• pp.817-838
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• 2005

In this paper, the resource adequacy as well as the optimum fuel mix is obtained by the following procedures. First, the regulation body, the government agency, determine the reliability index as well as the optimum portfolio of the fuel mix during the planning horizon. Here, the resources with the characteristics of public goods such as demand-side management, renewable resources are assigned in advance. Also, the optimum portfolio is determined by reflecting the economics, environmental characteristics, public acceptance, regional supply and demand, etc. Second, the government announces the required amount of each fuel-type new resources during the planning horizon and the market participants bid to the government based on their own estimated fixed cost. Here, the government announces the winners of the each auction by plant type and the guaranteed fixed cost is determined by the marginal auction price by plant type. Third, the energy market is run and the surplus of each plant except their cost (guaranteed fixed cost and operating cost) is withdrew by the regulatory body. Here, to induce the generators to reduce their operating cost some incentives for each generator is given based on their performance. The performance is determined by the mechanism of the performance-based regulation (PBR). Here the free-riding performance should be subtracted to guarantee the transparent competition. Although the suggested mechanism looks like very regulated one, it provides two mechanism of the competition. That is, one is in the resource construction auction and the other is in the energy spot market. Also the advantages of the proposed method are it guarantee the proper resource adequacy as well as the desired fuel mix. However, this mechanism should be sustained during the transient period of the deregulation only. Therefore, generation resource planning procedure and market mechanisms are suggested to minimize possible stranded costs.

• Journal of Digital Convergence
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• v.10 no.8
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• pp.119-133
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• 2012

Recent rise of social media channel is changing social and economic paradigm and is being used as an effective communication in marketing. The following research analyzes the most employed social marketing tools such as portal advertisement, blogs, and SNS channels to effectively execute social media marketing from performance indicator and ICSI perspective, analyzes each channel's characteristics and results based on Korea distribution companies' case studies and suggests a framework to effectively use each channel. Portal site advertisements are the most effective channel to draw customers with new information and are thus linked to profit by corporations with excessive budget and workforce. Blogs target a specific range of customers providing quality information and knowledge thus improving a corporation's and its product's trustworthiness, spread the word by allowing customers to scrap the information, form social groups and synthesize ideas, events, new contents and social involvement with loyal customers. SNS channels allow customers to get involved in real time information and events, grow through network by the power of customers, react immediately to customers' needs, and execute real-time market and customer reports. Though national corporations currently rely heavily on portal site advertisements, insightful marketing professionals are showing financial results with blog and SNS. In the future, based on a precise understanding of each channel's benefits and expected results, and with a focus on flexibility, timeliness and integrated use of each channel, a portfolio of dynamic marketing as a maximizing strategy could be synthesized.

• Journal of Korea Technical Association of The Pulp and Paper Industry
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• v.46 no.1
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• pp.18-28
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• 2014

Renewable Portfolio Standards(RPS) is a regulation that requires a renewable energy generated from eco-friendly energy sources such as biomass, wind, solar, and geothermal. The RPS mechanism generally is an obligatory policy that places on electricity supply companies to produce a designated fraction of their electricity from renewable energies. The domestic companies to supply electricity largely rely on wood pellets in order to implement the RPS in spite of undesirable situation of lack of wood resources in Korea. This means that the electricity supply companies in Korea must explore new biomass as an alternative to wood. Palm kernel shell (PKS) and empty fruit bunch (EFB) as oil palm wastes can be used as raw materials used for making pellets after their thermochemical treatment like torrefaction. Torrefaction is a pretreatment process which serves to improve the properties including heating value and energy densification of these oil palm wastes through a mild pyrolysis at temperature typically ranging between 200 and $300^{\circ}C$ in the absence of oxygen under atmospheric pressure. Torrefaction of oil palms wastes at above $200^{\circ}C$ contributed to the increase of fixed carbon with the decrease of volatile matters, leading to the improvement of their calorific values over 20.9 MJ/kg (=5,000 kcal/kg) up to 25.1 MJ/kg (=6,000 kcal/kg). In particular, EFB sensitively responded to torrefaction because of its physical properties like fiber bundles, compared to PKS and hardwood chips. In conclusion, torrefaction treatment of PKS and EFB can greatly contribute to the implement of RPS of the electricity supply companies in Korea through the increased co-firing biomass with coal.

• 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.

• Journal of Distribution Science
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• v.13 no.5
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• pp.71-82
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• 2015

Purpose - The purpose of this study is to investigate risk price implied from the pricing kernel of Korean stock distribution market. Recently, it is considered that the quantitative easing programs of major developed countries are contributing to a reduction in global uncertainty caused by the 2007~2009 financial crisis. If true, the risk premium as compensation for global systemic risk or economic uncertainty should show a decrease. We examine whether the risk price in the Korean stock distribution market has declined in recent years, and attempt to provide practical implications for investors to manage their portfolios more efficiently, as well as academic implications. Research design, data and methodology - To estimate the risk price, we adopt a non-parametric method; the minimum norm pricing kernel method under the LOP (Law of One Price) constraint. For the estimation, we use 17 industry sorted portfolios provided by the KRX (Korea Exchange). Additionally, the monthly returns of the 17 industry sorted portfolios, from July 2000 to June 2014, are utilized as data samples. We set 120 months (10 years) as the estimation window, and estimate the risk prices from July 2010 to June 2014 by month. Moreover, we analyze correlation between any of the two industry portfolios within the 17 industry portfolios to suggest further economic implications of the risk price we estimate. Results - According to our results, the risk price in the Korean stock distribution market shows a decline over the period of July 2010 to June 2014 with statistical significance. During the period of the declining risk price, the average correlation level between any of the two industry portfolios also shows a decrease, whereas the standard deviation of the average correlation shows an increase. The results imply that the amount of systematic risk in the Korea stock distribution market has decreased, whereas the amount of industry-specific risk has increased. It is one of the well known empirical results that correlation and uncertainty are positively correlated, therefore, the declining correlation may be the result of decreased global economic uncertainty. Meanwhile, less asset correlation enables investors to build portfolios with less systematic risk, therefore the investors require lower risk premiums for the efficient portfolio, resulting in the declining risk price. Conclusions - Our results may provide evidence of reduction in global systemic risk or economic uncertainty in the Korean stock distribution market. However, to defend the argument, further analysis should be done. For instance, the change of global uncertainty could be measured with funding costs in the global money market; subsequently, the relation between global uncertainty and the price of risk might be directly observable. In addition, as time goes by, observations of the risk price could be extended, enabling us to confirm the relation between the global uncertainty and the effect of quantitative easing. These topics are beyond our scope here, therefore we reserve them for future research.

• Journal of Digital Convergence
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• v.15 no.5
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• pp.37-48
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• 2017

Recently, the importance of software education is growing because computational thinking of software education is recognized as a key means of future economic development. Also human resources who will lead the 4th industrial revolution need convergence and creativity, computational thinking based on critical thinking, communication, and collaborative learning is known to be effective in creativity education. Software education is also a time needed to reflect social issues such as collaboration with developers sharing interests and open source development methods. Github is a leading social coding site that facilitates collaborative work among developers and supports community activities in open software development. In this study, we apply operational cases of basic learning of social coding sites, learning for storage server with sources and outputs of lectures, and open collaborative learning by using Github. And we propose educational model consisted of four stages: Introduction to Github, Using Repository, Applying Social Coding, Making personal portfolio and Assessment. The proposal of this paper is very effective for software education by attracting interest and leading to pride in the student.