• Corrosion Science and Technology
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• v.5 no.5
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• pp.173-176
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• 2006

Previous national studies on costs of corrosion are reviewed and brief explanations are given of the Uhlig method, Hoar method and Input-output method that are employed for corrosion cost estimation. Total costs of corrosion of 11 countries are summarized and the results by Uhlig methods are compared especially for the recent studies from the U.S, Japan and China.

• Corrosion Science and Technology
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• v.7 no.5
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• pp.252-258
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• 2008

The Committee on the Cost of Corrosion in Japan was organized in 1999 jointly by the Japan Society of Corrosion Engineering (JSCE) and the Japan Association of Corrosion Control (JACC). Corrosion cost as of FY1997 was estimated based on the Uhlig and Hoar methods similarly to that conducted in 1974. The estimated corrosion cost of 1997 was compared with that reported for 1974 with speculation on the change in industrial environment. The overall costs estimated by the Uhlig and Hoar methods for 1997 were 3,938 billion yen and 5,258 billion yen, respectively, which were equivalent to 0.77% and 1.02% of the GNP of Japan. The process of organization formation, procedures for analyses and the results of cost evaluation were described by adjusting a focus on transportation industry.

• Corrosion Science and Technology
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• v.7 no.5
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• pp.259-264
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• 2008

A national consultative project entitled "corrosion cost survey in China and preventive strategies" was funded by the Chinese Academy of Engineering in 1998. Soon afterwards, an expert group was organized jointly by the Institute of Metal Research, CAS and Chinese Society of Corrosion and Protection. The report on corrosion cost survey in China was published in 2003. According to this report the overall annual corrosion cost in China estimated by the Uhlig Method and Hoar Method at 1997-2001 was found to be 200.7 billion Yuan RMB and 228.8 billion Yuan RMB respectively, which is equivalent to 2% of the gross national product of China. However the total cost of corrosion including the direct and indirect cost was estimated to be more than 500 billion Yuan RMB per year in China. Among them, corrosion cost of infrastructure ranked in first comparing with other sectors. Although corrosion costs in some sectors, such as electric power, petrochemical, oil pipeline and railway in China has reduced in the past years, significant losses are still being encountered in most sectors of industries and cost-effective methods have not always been implemented. Both successful and unsuccessful cases in corrosion control and corrosion management were collected. As the investment in capital construction continues increasing rapidly in China, the maintenance and life extension of the infrastructures will become a big issue. The preventive strategies have been suggested

• Journal of Information Technology Applications and Management
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• v.29 no.2
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• pp.17-25
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• 2022

Although the two types of currencies compete, the possibility of a virtual currency price bubble is diagnosed by assuming an economic model with currencies (won, virtual currency) that are intrinsically worthless. The won is supplied by the central bank to achieve the price stability target, while the supply of virtual currency increases by a fixed number. According to the basic price theory equation, as a simple proposition, cryptocurrency prices form a Martin Gale process [Schilling and Uhlig, 2019, p.20]. Based on the existing theoretical proposition, we applied the variance ratio verification method [Linton and Smetanina, 2016] and a simple technical chart method for empirical analysis. For the purpose of this study, the possibility of a bubble was empirically analyzed by analyzing the price volatility formed in the Korean virtual currency market over the past year, and brief policy implications for this were presented.

• Corrosion Science and Technology
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• v.10 no.2
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• pp.52-59
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• 2011

Corrosion of metallic materials occurs by the reaction with corrosive environment such as atmosphere, marine, soil, urban, high temperature etc. In general, reduction of thickness and cracking and degradation are resulted from corrosion. Corrosion in all industrial facilities and infrastructure causes large economic losses as well as a large number of accidents. Economic loss by corrosion has been reported to be nearly 1-6% of GNP or GDP. In order to reduce corrosion damage of industrial facilities, corrosion map as well as a systematic investigation of the loss of corrosion in each industrial sector is needed. The Corrosion Science Society of Korea in collaboration with 15 universities and institutes has started to survey on the cost of corrosion and corrosion map of Korea since 2005. This work presents the results of the survey on cost of corrosion by Uhlig, Hoar, and input-output methods, and the evaluation of atmospheric corrosion rate of carbon steel, weathering steel, galvanized steel, copper, and aluminum in Korea. The total corrosion cost was estimated in terms of the percentage of the GDP of industry sectors and the total GDP of Korea. According to the result of Input/output method, corrosion cost of Korea was calculated as 2.9% to GDP (2005). Time of wetness was shown to be categories 3 to 4 in all exposure areas. A definite seasonal difference was observed in Korea. In summer and fall, time of wetness was higher than in other seasons. Because of short exposure period (12 months), significant corrosion trends depending upon materials and exposure corrosion environments were not revealed even though increased mass loss and decreased corrosion rate by exposure time.