• Environmental and Resource Economics Review
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• v.15 no.2
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• pp.319-353
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• 2006

This paper shows how weather derivatives can be used to hedge against the price risk and volume risk of purchasing relatively large amounts of electricity. Our specific approach to designing new contracts for electricity is to focus on the return over a summer season rather than on the daily levels of demand and price. It is shown that correct market signals can be preserved in a contract and the associated financial risk can be offset by weather options. The advantage of combining a forward contract with a weather derivative is that the high prices on hot days or when the temperature is high reflect the underlying high cost of producing power when the load is high and that the combined contract with a weather derivative substantially reduces the volatility of the return.

• Journal of Distribution Science
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• v.12 no.11
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• pp.35-43
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• 2014

Purpose - This study evaluates the mutual influential power regarding the trade volumes of Japan and USA, based on a literature review and an empirical analysis. Through the literature review, I could evaluate each country's actual import-export volume and its status. Further, I could evaluate how each country could influence its trade outcome, through empirical analysis. Research design, data, and methodology - This study aims to review the trade structure to improve Japan-USA economic and social cooperation, as the two countries have reciprocal complementary features, and to examine trade weaknesses and analyze factors influencing trade and its direction, as well as to identify ways to expand trade. Results - The intra-economic potential cooperation fields are numerous. Additionally, anticipated profits from these fields are stable as compared to other fields in the regional economic integration. Conclusion - The interrelations between the two economic identities can provide optimal opportunities for industrial technology cooperation. Under the current aggravated competition in industrial fields, it is advisable to identify ways to secure stable resource suppliers, including the development of export markets.

• Proceedings of the KIEE Conference
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• 2002.07a
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• pp.536-540
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• 2002

In this paper, accelerated life test (ALT) models and procedures for Magnetic Switch (MS) are developed and applied to assure specified reliability of the products at development phase and guarantee the life of the products. Magnetic contactor that functions with over-current relay is called MS. Magnetic contactor closes and opens the motor load with ON/OFF switch of electronic contactor. It is also used for protecting and controlling the load. Magnetic contactor detects the over-current flow in the load with a over-current relay and disconnects the load by opening its control power. In this study, ALT models for MS are developed using the relationship between stresses and life characteristics of products. Using the ALT models, we performed life tests and analyzed the tests results. The proposed ALT models and procedures may be extended and applied to testing similar kinds of products to reduce test times and costs of the tests remarkably. Finally the results of this study will contribute to improving reliability of products and strengthening competitiveness of our products in world markets.

• Journal of the Korean Home Economics Association
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• v.44 no.10
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• pp.9-20
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• 2006

Due the globalization trends of industry environment, not only fashion companies of the developed countries but also those of NICs and the developing countries are pursuing to globalize their businesses. This study was conducted (i) to identify the characteristics of international marketing mix of Korean fashion companies operating in oversea fashion markets and (ii) to analyze the performance of Korean fashion companies related to international marketing mix. The data were collected from inter-Korean fashion enterprises. A questionnaire was distributed to a person in charge of international division/international trade division who doing business in domestic market and a person in charge of a local subsidiary in oversea market. The methods of analysis used in this study were factor analysis, cluster analysis, and one-way ANOVA. The results of this study are as follows: First, according to factor analysis and cluser analysis, Korean fashion companies were classified in four (4) clusters. The fashion companies in Cluster I put their priority on price. The companies in Cluster II are traditional fashion companies which have relatively low power of product and price. The companies in Cluster III put their priority on product, and the companies in Cluster IV put their priority on local market. Second, according to ANOVA, a growth rate of sales make significant difference among 4 clusters and Clusters II and III were comparatively high in performance.

• Transactions of the Korean Society of Mechanical Engineers B
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• v.23 no.10
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• pp.1347-1354
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• 1999

Recently, the markets of the air conditioner are enlarging. The market size will reach 2.0 billion won in 2000. Electric heat pumps have been utilized as main residential air conditioners. especially in Korea. They cause a surge up electric power demand during summer. Moreover, the use of HCFCs and HFCs causes serious problem to the global environment such as global warming and ozone layer destruction. Absorption chiller and heater could solve such problems. It was built and tested for analyzing the performance of the generator for absorption chiller and heater. Experiment was done with a high temperature generator, a low temperature generator, heat exchangers, a condenser and a solution tank. It was tested that the double effect series flow cycle with two kinds of solution cycle. Solution cycle B showed better than solution cycle A. Two kinds of heat exchanger were used, where one's heat transfer area is bigger than the other. Bigger one increased a little performance of absorption chiller and heater. But it was not economical. From this study, we got that the coefficient of performance(COP) is 0.82 and the capacity is 7.24 kW for an absorption chiller and heater.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.27
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• pp.165-181
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• 2005

The health industry of China is faster than before, so it will be rank 5th at world-wide markets in 2010. Firstly, the custom tariff was lower at 15% in 2000 and at 10.4% on June 2005. And, it will be lower into 9.8% in 2010. Secondly, this is because of expansion of purchase power on increase in economic growth, extended human life expectancy. As it is entered the WTO in January 2002, it will positively affect on export of Korea for China. This paper focuses on the analysis of export increase caused by reduction of custom tariff in China. As above mentioned, the time schedule on average reduction of custom tariff was 15% in 2000, 10.4% in 2005. Then, it will be lower into 9.8% in 2010. As the empirical test related health industry, it presents 19.80% export increase rate for China of Korea on reduction of custom tariff from 2001 to 2010. The exporting of drug for China will be up to 17.85% for 10 years. Also, the exporting of Biomedical will be up to 20.99%, and respectively 22.95%, 22.60% in Cosmetics and food industry. Conclusionally, the exporting of this health industry will be increase greatly, compared with any other industries. So, it is necessary that firms increase in R&D investment and government support as policy for health industry.

• Journal of Distribution Science
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• v.14 no.12
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• pp.53-59
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• 2016

Purpose - The concept of lifetime job has disappeared, and men are interested in business foundation to work continuously with similar jobs. The value of business foundation is thought to be important in accordance with the viewpoint of society, government, individuals and family. Research design, data, and methodology - The economic exchange between South Korea and China has been expanded, and they are likely to play an important role in entry into China by business foundation in accordance with economic exchange between the two countries. As Korean residents inflow overseas, small businessmen business foundation shall be given attention scientifically and Korean Chinese business foundation shall be given attention as well. Results - The study investigated the effects on psychological characteristics and small business foundation motives upon business foundation will by using models. Self-efficacy and self achievement had positive influence upon small business foundation of Korean Chinese. The use of control variable had explanatory power (29.6%). Conclusions - The findings would help the government's small business foundation system to promote small business foundation and to be a guide for expansion in Korean Chinese's small business markets. An education program should be developed to strengthen Korean Chinese's self efficacy considering psychological characteristics.

• Journal of Distribution Science
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• v.10 no.9
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• pp.13-21
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• 2012

Purpose - Korean traditional markets are falling behind the times, because they have not met the demands of social changes including: an overall improvement in standards of living, shift in purchasing form and propagation of cars. It is one of the most indigenous and conventional foods of Korea, taking a seat far in the corner of Korean traditional culture. Research design / data / methodology - Korean traditional rice cakes however have their limits. They are produced and sold by independent shop owners who cannot compete with the brand power of franchise organizations. The leadership of adminstration is needed for these shop owners particularly in visual merchandising related to interior design and display. Results - Additionally, the advent of major company-run rice cake cafe adds fresh fuel to the problem in addition to small but luxurious packaging. Small business owners need packaging technology for overall quality improvement of sales of rice cakes. Additional help is needed with the mode of packing to promote sales and win consumer confidence. Conclusions - Further assistance with marketing for seasonal displays is needed as well as teaching business owners how to read graphic data. Regular specialized education for visual merchandising of rice cakes could help independent market owners win the competition against franchise-based organizations.

• Korean System Dynamics Review
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• v.3 no.1
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• pp.43-60
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• 2002

This paper describes the forecast of wholesale price in competitive Korean electricity market using the system dynamics approach. The system dynamics concepts have been implemented with the Ithink software. This software facilitates the development of stock and flow model with information feedback. Using this model, the future wholesale electricity price can be computed hour by hour, quarterly, and yearly. This model also gives the energy planner the opportunity to create different scenarios for the future of deregulated wholesale markets in Korea. Also It will lead to increased understanding of competitive wholesale market as a complex, dynamic system. Research results show that the plant construction appeared in waves of boom and bust in Korean electricity market like real estate construction. That is, the Korea wholesale market's new power plants and the market price will appear the Boom and Bust cycle. It is very similar behavior as real estate industry. In case of consideration of DSM program, The DSM savings lead to a somewhat different timing of the booms in construction and of price spikes. But the DSM programs do not eliminated the fundamental dynamics of the boom and bust. And the wholesale price is maintained at the lower level compared to the case of without DSM program. However, the unexpected result is found that due to the lower market price, Investor make significantly less investment in new CCs, which leads to the higher wholesale price after 2010. It suggests that the DSM Policy must be implemented with the dynamics of competitive Electricity Market.

• Proceedings of the KIEE Conference
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• 1999.07e
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• pp.2268-2270
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• 1999

The underground transmission line have been consistently developed to increase its voltage level for satisfying the customer's demand through supplying the high reliability power. The underground XLPE cable and its accessories of 500kV level have been already developed internationally, but the XLPE cable have been installed 154kV level in Korea up to now. Thus, our company has developed 230kV XLPE cable and its accessory in 1998 for preparing 345kV level system in Korea and being qualified as international cable maker of developing oversea markets. In this paper, newly our developed 230kV system will be introduced using the type test result according to IEC 840 and additional specification.