• Asia-Pacific Journal of Business
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• v.11 no.2
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• pp.27-43
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• 2020

Purpose - This study explores the impact of the real estate industry on related industries for the perspective of Chinese steel companies. Design/methodology/approach - The impact of housing prices on the 41 listed steel companies' performance was analyzed by using the panel data model. We used two kinds of housing price indexes that are set in the panel data models to estimate the range of the real estate market, driving the performance growth of steel listed companies. Moreover, the net profit of steel companies is used as the dependent variable. To test the stability of the model, ROA used as a dependent variable for the robustness test. Also, to avoid the time trend of housing prices, this paper selects the growth rate of housing prices as the primary research variable. After Fisher-type testings, there is no unit root problem in both independent and dependent variables. Findings - The results indicated that the rise in the housing price has a positive influence on the steel company performance. When the housing price increases by 1%, the net profit of steel enterprises will increase by 5 to 20 million yuan. Research implications or Originality - In this paper, empirical data at the micro-level and panel model are used to quantify China's real estate industry's driving effect on the iron and steel industry, providing evidence from the microdata level. It helps us to understand further the status and role of China's real estate industry in the economic structure.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.9 no.3
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• pp.831-839
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• 2008

The steel industry is becoming more important around the world and the demand of steel is increasing. Korea is the 5th country of steel producing in the world and the attention in the steel industry is growing. The steel industry is one of the key industry in leading the economic growth in Korea. This study attempts to analyze by time-series the economic impacts of the steel industry using an inter-industry analysis Specifically, the study investigates production-inducing effect, value added inducing effect and employ-inducing effect of the steel industry based on demand-driven model and the study deals with supply shortage effect and sectoral price effect of the steel industry by using supply-driven model and Leontief price model.

• Journal of Arbitration Studies
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• v.18 no.1
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• pp.49-69
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• 2008

This study is to analyze the case law on the disputes of the ex-im contract of steel bar from Yugoslav to Egypt, for which awards were made by the ICC Arbitration Court, trying to find out the characteristic approach of the tribunal toward arbitration case dealing with socialistic country, Yugoslav and Islamic Egypt. An Egyptian importer and an Yugoslavian Exporter concluded a contract, with an option to purchase an additional quantity. for the steel bar. The importer exercised this option as provided in the contract. But the exporter refused to honor the option, due to the fact that the world market price for the steel bar has gone up. As a result, the importer had to purchase the steel bar as a replacement from a Rumanian company at the price higher than the original contract. And it has initiated arbitration under the arbitration clause at the ICC Arbitration Court to claim compensation for the loss due to the price difference. CISG and ULIS were closely studied along with the Yugoslav Law to determine whether the exporter could be exempted from the liability to damages. But the tribunal denied to accept the exporter's contention. The tribunal decided that the importer was entitled to damages due to the exporter's failure to deliver the additional quantity of goods at the original price. It was due to the fact that the price increase was not extremely sudden & high enough to exceed a reasonable entrepreneurial risk and also could be taken into account when concluding the contract.

• Journal of Korea Port Economic Association
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• v.37 no.2
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• pp.73-89
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• 2021

The handysize bulk carriers are capable of transporting a variety of cargo that cannot be transported by mid-large size ship, and the spot chartering market is active, and it is a market that is independent of mid-large size market, and is more risky due to market conditions and charterage variability. In this study, Granger causality test, the Impulse Response Function(IRF) and Forecast Error Variance Decomposition(FEVD) were performed using monthly time series data. As a result of Granger causality test, coal price for coke making, Japan steel plate commodity price, hot rolled steel sheet price, fleet volume and bunker price have causality to Baltic Handysize Index(BHSI) and charterage. After confirming the appropriate lag and stability of the Vector Autoregressive model(VAR), IRF and FEVD were analyzed. As a result of IRF, the three variables of coal price for coke making, hot rolled steel sheet price and bunker price were found to have significant at both upper and lower limit of the confidence interval. Among them, the impulse of hot rolled steel sheet price was found to have the most significant effect. As a result of FEVD, the explanatory power that affects BHSI and charterage is the same in the order of hot rolled steel sheet price, coal price for coke making, bunker price, Japan steel plate price, and fleet volume. It was found that it gradually increased, affecting BHSI by 30% and charterage by 26%. In order to differentiate from previous studies and to find out the effect of short term lag, analysis was performed using monthly price data of major cargoes for Handysize bulk carriers, and meaningful results were derived that can predict monthly market conditions. This study can be helpful in predicting the short term market conditions for shipping companies that operate Handysize bulk carriers and concerned parties in the handysize chartering market.

• Journal of Korean Association for Spatial Structures
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• v.7 no.4
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• pp.63-72
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• 2007

As business of steel consuming industries is freshly booming in domestic and foreign countries especially in China, the price of steel plates comes to very high compare with the other materials. The HR Plates made from hot rolled coils is lower steel plates in price. In this study, material characteristics of HR Plates is investigated and availabilities of HR Plates for steel bridges as sub member or a main member is discussed. No difference between steel plates and HR Plates with thickness up to 22mm is found in most characters such as cutting operation, fabrication and even welding. As sub member in steel box girders, the application ratio and the loss ratio of HR Plate is investigated as about $10{\sim}15%$, average $10{\sim}15%$ respectively.

• Journal of the Society of Naval Architects of Korea
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• v.58 no.5
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• pp.281-293
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• 2021

Oil and steel prices, which are major pricescosts in the shipbuilding industry, were predicted. Firstly, the error of the moving average line (N=3-5) was examined, and in all three error analyses, the moving average line (N=3) was small. Secondly, in the linear prediction of data through existing theory, oil prices rise slightly, and steel prices rise sharply, but in reality, linear prediction using existing data was not satisfactory. Thirdly, we identified the limitations of linear prediction methods and confirmed that oil and steel price prediction was somewhat similar to actual moving average line prediction methods. Due to the high volatility of major price flows, large errors were inevitable in the forecast section. Through the time series analysis method at the end of this paper, we were able to achieve not bad results in all analysis items relative to artificial intelligence (Prophet). Predictive data through predictive analysis using eight predictive models are expected to serve as a good research foundation for developing unique tools or establishing evaluation systems in the future. This study compares the basic settings of artificial intelligence programs with the results of core price prediction in the shipbuilding industry through time series prediction theory, and further studies the various hyper-parameters and event effects of Prophet in the future, leaving room for improvement of predictability.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.40 no.2
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• pp.51-59
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• 2017

Due to the rapid change of global business environment, the growth of China's steel industry and the inflow of cheap products, domestic steel industry is faced on downward trend. The change of business paradigms from a quantitative growth to a qualitative product is needed in this steel industry. In this environment, it is very important for domestic steel distribution companies to secure their competitiveness by selecting good supply companies through a efficient procurement strategy and effective method. This study tried to find out the success factors of steel distribution industry based on survey research from experts. Weighted values of each factors were found by using AHP (analytic hierarchy process) analysis. The weighted values were applied to DEA(data envelopment analysis) model and eventually the best steel supply company were selected. This paper used 29 domestic steel distribution firms for case example and 5 steps of decision process to select good vendors were suggested. This study used quality, price, delivery and finance as a selection criteria. Using this four criterions, nine variable were suggested. Which were product diversity, base price, discount, payment position, average delivery date, urgency order responsibility and financial condition. These variables were used as a output variable of DEA. Sales and facilities were used as an input variable. Pairwise comparison was conducted using these variables. The weighted value calculated by AHP pairwise comparison were used for DEA analysis. Through the analysis of DEA efficiency process, good DMU (decision making unit) were recommended as a steel supply company. The domestic case example was used to show the effectiveness of this study.

• Journal of the Korean Institute of Landscape Architecture
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• v.29 no.6
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• pp.72-81
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• 2002

The purpose of this study is to determine the impact of the soil load for artificial ground on a building's structural expenses. Three types of soil - 100% soil, soil mixed with 50% perlite, and 100% artificial soil - were used for this study. A one story concrete steel building specific to each soil load was designed, and then, the cost of steel and concrete used for the design was estimated. As the result of this study, the structural expenses in the case of 5:5 mixed soil can be reduced about 17% compare with 100% soil. Using artificial soil, the structural expenses can be cut about 32% compare to 100% soil and about 12% less when 5:5 mixed soil is used. However, considering total expense which includes the structural expense and soil expense, the expense of 5:5 mixed soil have an increase 25% compared with 100% soil. In the artificial soil, the total expense is 45% more expensive than 100% soil and 17% higher when 5:5 mixed soil is used because of the high unit price of artificial soil. This study expected substantial savings in structural cost as the soil-load was lightened. But, savings were significantly reduced because the unit price of the artificial soil is much more expensive than the price of the natural one. Therefore, further research on methods of reducing the unit price of the artificial soil should be conducted in order to extend green space on to artificial ground.

• Korea Trade Review
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• v.45 no.1
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• pp.173-201
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• 2020

As the US's trade deficit with China and China's manufacturing industry has risen rapidly, the US has begun to regulate trade items as part of China's checks. Four rounds of reprisal measures have greatly altered the trade structures of both countries. In particular, Korea, which is highly dependent on the US and China, has been directly affected by US-China trade disputes. The purpose of this study was to analyze the effects of US-China trade disputes on the stock price of Korean export firms by performing an event study. This study analyzed stock price fluctuations for 7 days before and after entry into forced [Please check] retaliatory tariffs on Korean exporters' export items subject to retaliatory tariffs. According to the analysis results, among companies that produce goods with major tariffs imposed on China by the US, such as electronic appliances, semiconductors, machinery, and automobiles, those producing electronics and semiconductor products were positively affected by the tariff incident. Secondly, among the companies producing steel, chemicals, and machinery, which the main tariffs imposed by the United States, companies producing steel and chemicals were negatively affected by the incident due to the stagnation of trade between China and the US. The results of this study suggest future trade policy directions for Korea and help to establish an export strategy for major industries.

• The Transactions of the Korean Institute of Electrical Engineers P
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• v.62 no.4
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• pp.181-185
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• 2013

This paper deals with the electromagnetic loss characteristics of enclosures for a 24kV high voltage switchgear by using a finite element method (FEM). A study on the electromagnetic characteristics of enclosures for a high voltage switchgear should be conducted to minimize the size and the temperature rising of a switchgear. Generally, the enclosures made by stainless steel are used to minimize the eddy current loss caused by the transporting current in Bus bars due to its non-magnetic characteristics although the price of stainless steel is expensive compared with other metal for enclosures. Therefore, a switchgear made by stainless steel enclosures could be fabricated as a small size and are applied to a switchgear in urban substations. On the contrary, the switchgear enclosures made by steel could be fabricated with relatively cheap manufacturing price. However, the temperature easily rises due to the transporting current in Bus bars because steel is a ferromagnetic material. Therefore, the size of a switchgear made by steel enclosures is relatively massive and installed in rural substations. In this paper, the electromagnetic losses in the enclosures of a switchgear according to various enclosure thicknesses are calculated and compared with each other. Especially, we proposed a hybrid type enclosures for a switchgear made by stainless steel (top and bottom enclosure) and steel (left and right enclosure). It is concluded that the cost electromagnetic performance of applying the hybrid type enclosure is favorable to develop a high voltage switchgear.