• Journal of the Korean Society for Marine Environment & Energy
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• v.11 no.4
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• pp.181-190
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• 2008

To response climate change and Kyoto protocol and to reduce greenhouse gas emissions, marine geological storage of $CO_2$ is regarded as one of the most promising option. Marine geological storage of $CO_2$ is to capture $CO_2$ from major point sources(eg. power plant), to transport to the storage sites and to store $CO_2$ into the marine geological structure such as deep sea saline aquifer. To design a reliable $CO_2$ marine geological storage system, it is necessary to perform numerical process simulation using thermodynamic equation of state. The purpose of this paper is to compare and analyse the relevant equations of state including ideal, BWRS, PR, PRBM and SRK equation of state. To evaluate the predictive accuracy of the equation of the state, we compared numerical calculation results with reference experimental data. Ideal and SRK equation of state did not predict the density behavior above $29.85^{\circ}C$, 60 bar. Especially, they showed maximum 100% error in supercritical state. BWRS equation of state did not predict the density behavior between $60{\sim}80\;bar$ and near critical temperature. On the other hand, PR and PRBM equation of state showed good predictive capability in supercritical state. Since the thermodynamic conditions of $CO_2$ reservoir sites correspond to supercritical state(above $31.1^{\circ}C$ and 73.9 bar), we conclude that it is recommended to use PR and PRBM equation of state in designing of $CO_2$ marine geological storage process.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.69
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• pp.261-301
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• 2016

Recently the abusive calls on on-demand bonds have been a critical issue among many engineering and construction companies in Korea. On-demand bond is referred to as an independent guarantee in the sense that the guarantee is independent from its underlying contract although it was issued based on such underlying contract. For this reason, the issuing bank is not required to and/or entitled to look into whether there really is a breach of underlying contract in relation to the call on demand-bonds. Due to this kind of principle of independence, the applicant has to run the risk of the on demand bond being called by the beneficiary without due grounds. Only where the call proves to be fraudulent or abusive in a very clear way, the issuing bank would not be obligated to pay the bond proceeds for the call on on-demand bonds. In order to prevent the issuing bank from paying the proceeds under the on-demand bond, the applicant usually files with its competent court an application for injunction prohibiting the beneficiary from calling against the issuing bank. However, it is in practice difficult for the applicant to prove the beneficiary's call on the bond to be fraudulent since the courts in almost all the jurisdictions of advanced countries require very strict and objective evidences such as the documents which were signed by the owner (beneficiary) or any other third party like the engineer. There is another way of preventing the beneficiary from calling on the bond, which is often utilized especially in the United Kingdom or Western European countries such as Germany. Based upon the underlying contract, the contractor which is at the same time the applicant of on-demand bond requests the court to order the owner (the beneficiary) not to call on the bond. In this case, there apparently seems to be no reason why the court should apply the strict fraud rule to determine whether to grant an injunction in that the underlying legal relationship was created based on a construction contract rather than a bond. However, in most jurisdictions except for United Kingdom and Singapore, the court also applies the strict fraud rule on the ground that the parties promised to make the on-demand bond issued under the construction contract. This kind of injunction is highly unlikely to be utilized on the international level because it is very difficult in normal situations to establish the international jurisdiction towards the beneficiary which will be usually located outside the jurisdiction of the relevant court. This kind of injunction ordering the owner not to call on the bond can be rendered by the arbitrator as well even though the arbitrator has no coercive power for the owner to follow it. Normally there would be no arbitral tribunal existing at the time of the bond being called. In this case, the emergency arbitrator which most of the international arbitration rules such as ICC, LCIA and SIAC, etc. adopt can be utilized. Finally, the contractor can block the issuing bank from paying the bond proceeds by way of a provisional attachment in case where it also has rights to claim some unpaid interim payments or damages. This is the preservative measure under civil law system, which the lawyers from common law system are not familiar with. As explained in this article, it is very difficult to block the issuing bank from paying in response to the bond call by the beneficiary even if the call has no valid ground under the underlying construction contract. Therefore, it is necessary for the applicants who are normally engineering and construction companies to be prudent to make on-demand bonds issued. They need to take into account the creditability of the project owner as well as trustworthiness of the judiciary system of the country where the owner is domiciled.

• Journal of Distribution Science
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• v.8 no.3
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• pp.37-47
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• 2010

CRM refers to the operating activities that always maintain and promote good relationship with customers to ultimately maximize the company's profits by understanding the value of customers to meet their demands, establishing a strategy which may maximize the Life Time Value and successfully operating the business by integrating the customer management processes. In our country, many big businesses are introducing CRM initiatively to use it in marketing strategy however, most medium and small sized companies do not understand CRM clearly or they feel difficult to introduce it due to huge investment needed. This study is intended to present CRM promotion strategy and activities plan fit for the medium and small sized companies by analyzing the success factors of the leading companies those have already executed CRM by surveying the precedents to make the distributors out of the industries have close relation with consumers to overcome their weakness in scale and strengthen their competitiveness in such a rapidly changing and fiercely competing market. There are 5 stages to build CRM such as the recognition of the needs of CRM establishment, the establishment of CRM integrated database, the establishment of customer analysis and marketing strategy through data mining, the practical use of customer analysis through data mining and the implementation of response analysis and close loop process. Through the case study of leading companies, CRM is needed in types of businesses where the companies constantly contact their customers. To meet their needs, they assertively analyze their customer information. Through this, they develop their own CRM programs personalized for their customers to provide high quality service products. For customers helping them make profits, the VIP marketing strategy is conducted to keep the customers from breaking their relationships with the companies. Through continuous management, CRM should be executed. In other words, through customer segmentation, the profitability for the customers should be maximized. The maximization of the profitability for the customers is the key to CRM. These are the success factors of the CRM of the distributors in Korea. Firstly, the top management's will power for CS management is needed. Secondly, the culture across the company should be made to respect the customers. Thirdly, specialized customer management and CRM workers should be trained. Fourthly, CRM behaviors should be developed for the whole staff members. Fifthly, CRM should be carried out through systematic cooperation between related departments. To make use of the case study for CRM, the company should understand the customer and establish customer management programs to set the optimal CRM strategy and continuously pursue it according to a long-term plan. For this, according to collected information and customer data, customers should be segmented and the responsive customer system should be designed according to the differentiated strategy according to the class of the customers. In terms of the future CRM, integrated CRM is essential where the customer information gathers together in one place. As the degree of customers' expectation increases a lot, the effective way to meet the customers' expectation should be pursued. As the IT technology improved rapidly, RFID (Radio Frequency Identification) appears. On a real-time basis, information about products and customers is obtained massively in a very short time. A strategy for successful CRM promotion should be improving the organizations in charge of contacting customers, re-planning the customer management processes and establishing the integrated system with the marketing strategy to keep good relation with the customers according to a long-term plan and a proper method suitable to the market conditions and run a company-wide program. In addition, a CRM program should be continuously improved and complemented to meet the company's characteristics. Especially, a strategy for successful CRM for the medium and small sized distributors should be as follows. First, they should change their existing recognition in CRM and keep in-depth care for the customers. Second, they should benchmark the techniques of CRM from the leading companies and find out success points to use. Third, they should seek some methods best suited for their particular conditions by achieving the ideas combining their own strong points with marketing. Fourth, a CRM model should be developed that will promote relationship with individual customers just like the precedents of small sized businesses in Switzerland through small but noticeable events.

• The Journal of Industrial Distribution & Business
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• v.2 no.2
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• pp.5-14
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• 2011

Opening agricultural market expansion, reduced purchases through wholesale markets, expanding the influence large retailers of consumer's market such as changes in the distribution system to the farmer's market conditions are changing rapidly. Because of this, retailers of the scaled and chain-store operations was centered on distribution environmental changes of the consumer market place. In producing area due to changes in market conditions in the agricultural production of in producing area distribution organization and the size distribution can not be put off no longer challenge is imminent. If it do not raise forces banded together, the producer is bound to remain as the weak. To support the distribution of this production was introduced in 2000 enable the Activation Project of in producing area distribution. Recent in producing area Changes of Agricultural conditions in order to cope with the Small-scale farmers and small individual farmers are becoming Scaled and specialized. Also, is specific to each item and regional is showing aspects. Government support for Activation Project of in producing area distribution is greatly improved, but in terms of competitiveness on the market still is showing the limitations. The most common of these problems, the market response if in producing area producer's organization and scale of the problem. Equipped for the purpose of consumer market place responsiveness unreasonable propelled outward from the Painter-sized weakens the organizational power. also, Difficult to succeed organizational size is a dissolution or anything within a few years, farmers around the best producer organizations, such as deviation occurs is exposed to a variety of issues. In this study, previous studies refer to the recent changes in agricultural retail environment, background and needs of organization·scaled, Determine the status of the domestic in producing area organizations and derived Problems, look into Domestic and overseas of in producing area organization with best practices for enhancing the competitiveness of the proposed improvement are intended to. In the future, in producing area distribution policy would like to provide direction to the development. The results of the study showed the follwing : 1) enhance utilization and orrganized through the diversification of the agricultural Collection systems. 2) Scaled to achieve through Items of specialized a wide area marketing. 3) Management operating units, such as installation and operating that overseas the best practices " Comite Economique Agricole Regional 'Fruits et Legumes' de Bretagne". 4) To establish a support system that in producing area distribution organization model development for appropriate domestic. In particular, in case of domestic in producing area distribution organization, through the analysis of various case study that a successful organization and scaled. The process of the various challenges arising in organizational scaled and generalization, and by the way he goes about trying to overcome is required. At the end of the study's limitations and future research directions suggested.

• Management & Information Systems Review
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• v.33 no.3
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• pp.167-187
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• 2014

While Korean GAAP had detailed regulations for the measurement and disclosure of operating income in the past, K-IFRS did not provide specific rules for operating income until 2011. Some firms that adopted K-IFRS before 2011 did not disclose or calculated operating income in an inconsistent manner although operating income is usually considered as one of the core information items to assess firm valuation. Inconsistency in firms' treatment of operating income invoked much criticism from diverse users of financial statement. The Korean Accounting Institute (KAI hereafter) revised the K-IFRS rules relevant to operating income in September 2010 in response to the voices raised by the business community, whereby the operating income number is allowed to be calculated in conformity with the previous K-GAAP. This study was motivated by the revision of K-IFRS and aims to provide a clue on the validity of such policy decision. To achieve the research objective, we test the relative value relevance of the alternative operating income numbers under K-IFRS versus K-GAAP. Our main findings are as follows. The value relevance of operating income reported before K-IFRS is proved to be higher than after K-IFRS. K-IFRS operating income adjusted to the previous K-GAAP has greater explanatory power for market values relative to one calculated under the K-IFRS regime. In an additional analysis, the sample was decomposed according to whether the operating income under K-IFRS is greater than under K-GAAP. The difference in the value relevance of K-IFRS versus K-GAAP operating income is significant only in the subsample consisting of firms which reports higher operating income under K-IFRS compared to K-GAAP. Also, the firms which would have reported negative operating income on a consecutive basis are more likely to have chosen K-IFRS, resulting in higher numbers than otherwise. It is likely that firms facing the threat of delisting due to consecutive operating loss reporting are more likely to have adopted K-IFRS disclosure rules by which they could report higher operating income numbers. To sum up, these results corroborate the limitation inherent in the K-IFRS regarding operating income disclosures. This paper suggests that the recent revision of K-IFRS implemented by KAI is likely to mitigate some of afore-mentioned limitations effectively.

• Journal of Energy Engineering
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• v.23 no.4
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• pp.31-40
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• 2014

The Korean government made the 2nd Energy Basic Plan to achieve 11% of new and renewable energies distribution rate until 2035 as a response to cope with international discussion about greenhouse gas emission reduction. Renewable energies include solar thermal, photovoltaic, bioenergy, wind power, small hydropower, geothermal energy, ocean energy, and waste energy. New energies contain fuel cells, coal gasification and liquefaction, and hydrogen. As public and private investment to enhance the distribution of new and renewable energies, it is necessary to clarify the economic effects of the new and renewable energies sector. To the end, this study attempts to apply an input-output analysis and analyze the economic effects of new and renewable energies sector using 2012 input-output table. Three topics are dealt with. First, production-inducing effect, value-added creation effect, and employment-inducing effect are quantified based on demand-driven model. Second, supply shortage effects are analyzed employing supply-driven model. Lastly, price pervasive effects are investigated applying Leontief price model. The results of this analysis are as follows. First, one won of production or investment in new and renewable energies sector induces 2.1776 won of production and 0.7080 won of value-added. Moreover, the employment-inducing effect of one billion won of production or investment in new and renewable energies sector is estimated to be 9.0337 persons. Second, production shortage cost from one won of supply failure in new and renewable energies sector is calculated to be 1.6314 won, which is not small. Third, the impact of the 10% increase in new and renewable energies rate on the general price level is computed to be 0.0123%, which is small. This information can be utilized in forecasting the economic effects of new and renewable energies sector.

• Journal of Nutrition and Health
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• v.49 no.3
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• pp.135-143
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• 2016

Purpose: Ultraviolet (UV)-induced oxidative stress contributes to several adverse biological effects on skin. Many phenolic phytochemicals have been shown to have antioxidant properties and protect skin cells from UV-induced oxidative damage. In this study, we investigated whether or not Aralia elata (AE) has a protective effect against UVB-induced reactive oxygen species (ROS), ultimately leading to photoaging. Methods: Phenolic content of dried AE and antioxidant properties of AE extract in 70% ethanol weredetermined by measuring DPPH and ABTS radical scavenging activities and ferric reducing antioxidant power (FRAP). The effect of AE extract on cellular ROS generation and expression levels of oxidative stress-response proteins such as superoxide dismutase (SOD)-1, catalase, nuclear factor-erythroid 2-related factor (Nrf)-2, and heme oxygenase (HO)-1 in UVB-irradiated ($75mJ/cm^2$) human keratinocytes (HaCaT) were further determined by 2'-7'-dichlorofluoresceine diacetate assay and Western blotting, respectively. Results: The total phenolic and flavonoid contents of dried AE were 20.15 mg tannic acid/g and 18.75 mg rutin/g, respectively. The $IC_{50}$ of AE extract against DPPH radical was $98.5{\mu}g/mL$, and ABTS radical scavenging activity and FRAP upon treatment with $1,000{\mu}g/mL$ of AE extract were $41.8{\mu}g\;ascorbic\;acid\;(AA)\;eq./mL$ and $29.7{\mu}g\;AA\;eq./mL$,m respectively. Pretreatment with AE extract significantly reduced (p < 0.05) ROS generation compared to that in UVB-irradiated control HaCaT cells. Pretreatment with AE extract reversed reduction of Nrf-2 and SOD-1 protein expression and induction of HO-1 protein expression caused by UVB exposure in HaCaT cells, whereas it did not affect catalase expression. Conclusion: AE extract in 70% ethanol demonstrated a protective effect against UVB-induced oxidative stress and decreased expression of Nrf-2 and SOD-1 in human keratinocytes. These findings suggest that AE ethanol extract might have potential as a natural resource for a skin anti-photoaging product in the food and cosmetic industry.

• Journal of Life Science
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• v.19 no.12
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• pp.1769-1776
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• 2009

The effects of combined garlic and medicinal plant extracts such as Gyeolmyeongja (Cassia obtusifolia Linne), Hasuo (Polygoni multiflori Radix), Youngji (Ganoderma lucium) and Sansayuk (Crataegus pinnatifida Bunge) on the antioxidant activity and lipid levels in the livers of rats fed a high cholesterol diet were analyzed. Total phenol and flavonoid contents were the highest in the Gyeolmyeongja by $151.02{\pm}5.20\;mg$/100 g and $43.69{\pm}5.58\;mg$/100 g. Electron donating ability, reducing power and hydroxyl radical scavenging activity were significantly increased when over 0.3% garlic extract was added. The antioxidant activity of linoleic acid in $\beta$- carotene increased in a dose dependant manner in response to the concentration of garlic extract. In livers of rats, the content of total lipids was significantly decreased by feeding garlic and medicinal plants composites; in particular, the group in which 0.7% garlic extract was added was the lowest. Total cholesterol was 14.95 mg/g in the control group; its level was lower in the groups fed garlic and medicinal plants composites, ranging from 11.47 to 11.86 mg/g. Triglyceride concentration was significantly decreased in the group fed 0.7% garlic extracts, with 46.42 mg/g compared to groups fed 0.3% and 0.5%. TBARS content showed a 15.8~17.6% decrease in groups fed 0.5~0.7% garlic extract and medicinal plants composites. Antioxidant activity was significantly increased in groups fed over 0.5% garlic extract compared to the control group. This study shows that garlic and medicinal plant composites intake is able to reduce the levels of liver lipids in hypercholesterolemic rats.

• Economic and Environmental Geology
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• v.49 no.4
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• pp.281-290
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• 2016

Coastal areas, used as human utilization areas like leisure space, medical care, ports and power plants, etc., are regions that are continuously changing and interconnected with oceans and land. Regular monitoring of coastal changes is essential at key locations with such volatility. But the survey method of terrestial LiDAR(Light Detection and Ranging) system has much time consuming and many restrictions. For effective monitoring coastal changes, KIOST(Korea Institute of Ocean Science & Technology) has constructed a shipborne mobile LiDAR system. The shipborne mobile LiDAR system, installed in a research vessel, comprised a land based LiDAR(RIEGL LMS-420i), an IMU(MAGUS Inertial+), a RTKGNSS(LEICA GS15 GS25), and a fixed platform. The shipborne mobile LiDAR system is much more effective than a land based LiDAR system in the measuring of fore shore areas without shadow zone. Because the vessel with the shipborne mobile LiDAR system is continuously moved along the shoreline, it is possible to efficiently survey a large area in a relatively short time. We conducted test measurements in the Anmok-Songjung beach around the Gangneung port. Effective monitoring of the changes using the constructed shipborne mobile LiDAR system for seriously eroded coastal areas will be able to contribute to coastal erosion management and response.

• Journal of the Korean Society for Marine Environment & Energy
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• v.13 no.3
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• pp.187-197
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• 2010

Carbon dioxide Capture and Storage(CCS) is regarded as one of the most promising options to response climate change. CCS is a three-stage process consisting of the capture of carbon dioxide($CO_2$), the transport of $CO_2$ to a storage location, and the long term isolation of $CO_2$ from the atmosphere for the purpose of carbon emission mitigation. Up to now, process design for this $CO_2$ marine geological storage has been carried out mainly on pure $CO_2$. Unfortunately the $CO_2$ mixture captured from the power plants and steel making plants contains many impurities such as $N_2$, $O_2$, Ar, $H_2O$, $SO_2$, $H_2S$. A small amount of impurities can change the thermodynamic properties and then significantly affect the compression, purification, transport and injection processes. In order to design a reliable $CO_2$ marine geological storage system, it is necessary to analyze the impact of these impurities on the whole CCS process at initial design stage. The purpose of the present paper is to compare and analyse the relevant physical property models including BWRS, PR, PRBM, RKS and SRK equations of state, and NRTL-RK model which are crucial numerical process simulation tools. To evaluate the predictive accuracy of the equation of the state for $CO_2-SO_2$ mixture, we compared numerical calculation results with reference experimental data. In addition, optimum binary parameter to consider the interaction of $CO_2$ and $SO_2$ molecules was suggested based on the mean absolute percent error. In conclusion, we suggest the most reliable physical property model with optimized binary parameter in designing the $CO_2-SO_2$ mixture marine geological storage process.