• Asia-Pacific Journal of Business
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• v.13 no.2
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• pp.39-50
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• 2022

Purpose - The purpose of this study is to examine how Korea's macroeconomic factors, such as GDP, CPI, Export, Import, Unemployment rate and USD/KRW exchange rate, are affected by the oil price shocks. Design/methodology/approach - This study used monthly and quarterly time-series data of each variable for the period 1983 to 2022, consisting of two sub-periods, to employ Granger causality test and GARCH method in order to identify the role of the oil price movement in macroeconomic factors in Korea. Findings - Korea's currency rate to the US dollar is negatively correlated with the price change of crude oil while the GDP change is positively correlated with the price change of crude oil with strong relationship between Export and Import in particular. The exchange rate and GDP growth are believed to be not correlated with the oil price change for the pre-GFC period. According to the Granger causality test, the price change in crude oil has a causal impact on CPI, Export and Import while other factors are relatively slightly affected. Transmission effect from the oil price to Export is found and there also exists volatility spillover from oil price to economic variables under examination. Comparing two sub-periods, CPI and Export volatility responds negatively to shocks in the oil price for the pre-GFC period while volatility of CPI and Unemployment reacts positively to the oil price shocks for the post-GFC period. Research implications or Originality - The findings of this study could be helpful for both domestic and international investors to build their portfolio for the risk management since rising WTI price can be interpreted as a result of global economic growth and ensuing increase in the worldwide demand of the crude oil. Consequently, the national output is expected to increase and the currency is also expected to be strong in the long run.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.2
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• pp.25-33
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• 2018

In the globalization and free trade era, the current account deficit problem is a common phenomenon experienced by most countries, both developing and developed countries. Also with managed floating regime of exchange rate, it becomes very important to analyze the dynamics of current account balance which determine the trade. The deficit condition has lasted for four years in Indonesia, as well the deficit value above the value of the surplus that has been experienced during the period 2005-2011. This study is firstly aim to examine the condition of the deficit which happens in the export and import, manufactured goods and oil and gas, whether related to the transaction of goods and services. We try to build a predicted model which near the actual. Then, the focuses examines an exchange rate volatility impact on current account deficit. The model used in this research is a simultaneous model of Indonesia current account deficit from 2005 to 2014. The simulation result indicated that depreciation increase surplus to current account deficit. The decrease of export manufactured goods (non oil and gas) higher than the increase of import. For the oil and gas sector, depreciation of the rupiah against the US dollar results in an increased burden of higher oil and gas imports due to import transactions.

• Food Science and Industry
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• v.50 no.4
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• pp.65-81
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• 2017

In Korea, sesame oil has been used as a flavor source mainly by edible oil since ancient times, and it has been used by domestic screw pressing. In the 1960's, the demand for edible oils and fats increased significantly due to the improvement of national income and changes in food consumption patterns. In the early 1970's, a few edible oil manufacturing companies with modern solvent extraction and refining plants were established. In Korea, edible oil manufacturers account for more than 85% of employees with 50 or fewer employees. In Korea, there is a very shortage of raw materials for edible oils and fats, domestic production of edible oil is decreasing year by year and import volume is continuously increasing. While importing the edible oil bearing ingredients including soybean and extracted oil in the past, recently mainly imports crude oil and refines it in Korea. Soybean oil, palm oil and tallow account for 70~90% of total imported edible oils. Due to the recent well-being trend, the demand for olive, canola and grapeseed oils as household edible oil has increased and the production of blended oil has been greatly increased. Since the late 1980's, people have recognized edible oil and fat as a food instead of seasoning ingredient and have increased their edible oil and fat intake in Korea. Since the early 2000's, refined oil and fat products produced in Korea have been exported and is increasing every year.

• Journal of the Korean Data and Information Science Society
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• v.23 no.3
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• pp.535-542
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• 2012

The consumer price index (CPI) data is one of the important economic measurement of the country. In this article, the Autoregressive Error (ARE) model has been considered for analyzing the monthly CPI data at Seoul, Pusan, Daegu, and Gwangju Cities in Korea, In the ARE model, nine economic variables are used as the explanatory variables for the CPI data set. The nine explanatory variables are CCI (coincident composite index), won-dollar rate, producer price index, oil import price, oil import volume, international current account, import price index, unemployment rate, and amount of currency. The result showed that the monthly ARE models explained about 46-52% for describing the CPI.

• Korean Journal of Environmental Agriculture
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• v.38 no.4
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• pp.321-331
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• 2019

BACKGROUND: Pinoxaden is the phenylpyrazoline herbicide developed by Syngenta Crop Protection, Inc. and marketed on 2006. The maximum residue levels for wheat and barley were set by import tolerance. Thus, Ministry of Food and Drug Safety (MFDS) official analytical method determining Pinoxaden residue was necessary in various food matrixes. Satisfaction of international guideline of CODEX (Codex Alimentarius Commission CAC/GL 40) and National Institute of Food and Drug Safety Evaluation-MFDS (2017) are additional pre-requirements for analytical method. In this study, liquid chromatography-tandem mass spectrometry (LC-MS/MS) method was investigated to analyze residue of Pinoxaden (M4), which is defined as pesticide residue in Korea, in foods. METHODS AND RESULTS: Pinoxaden (M4) was extracted followed by acid digestion (2hr reflux with 1N HCl) and pH adjusting (pH 4-5 with 3% ammonium solution). To remove oil, additional clean-up step with hexane saturated with acetonitrile was required to high oil contained sample before purification. HLB cartridge and nylon syringe filter were used for purification. Then, samples were analyzed by LC-MS/MS using reserve phase column C₁₈. Five agricultural group representative commodities (mandarin, potato, soybean, hulled rice, and red pepper) were used to verify the method in this study. The liner matrix-matched calibration curves were confirmed with coefficient of determination (r²) > 0.99 at calibration range 0.002-0.2 mg/kg. The limits of detection and quantitation were 0.004 and 0.01 mg/kg, respectively, which were suitable to apply Positive List System (PLS). Mean average accuracies of pinoxaden (M4) were shown to be 74.0-105.7%. The precision of pinoxaden and its metabolites were also shown less than 14.5% for all five samples. CONCLUSION: The method investigated in this study was suitable to CODEX (CAC/GL 40) and National Institute of Food and Drug Safety Evaluation-MFDS (2017) guideline for residue analysis. Thus, this method can be useful for determining the residue in various food matrixes in routine analysis.

• Journal of Environmental Policy
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• v.14 no.2
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• pp.133-148
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• 2015

The number of used oil refining companies has been increased and it causes shortage of the volume of used oil per recycling company. In addition, the number of used oil collecting companies has been increased and it caused excessive competition among companies with excessive costs. Companies use not only proper used oil but also low quality used oil because of shortage of supply. It is the reason of environmental pollution. Also excessive competition brings high cost of refined oil and it becomes a burden on the consumer. Therefore, the recycling improvement plans of used oil is needed because of these causes. First of all, importing used oil from the developed countries of OECD is the one of solution to secure a used oil supply. However, imported used oil should meet the international quality standards and it is examined twice by international authority institute such as K-petro in both exporting and importing countries. Second, the cost would be reduced with the relaxation on regulations of used oil refinement. However, regulation to sediment and water should be separated. Sediment should be kept within 2% and water should be kept within 5%. It is the way to relax the regulations of used oil refinement with preventing environmental pollutions. Finally, the standard of used oil for heater should be regulated strictly. To prevent pollutions, used oil for heater is limited to high quality waste lubricating oil. Also the air pollution prevention device has to be installed on heater.

• Journal of the Korean Applied Science and Technology
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• v.15 no.4
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• pp.27-34
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• 1998

The natural body foam product which palm oil is added to this product, differs from products for clothes and Kitchen detergent, industrial and domestic detergent, and It has a various characteristics as a soft detergent for bath and hair product. Up to now, vidal sassoon product which imports form overseas and sells in our country, increases every year in consumption quantity. The development of this product tested to consider the quality of product in the effect of import transfer. First of all, the experiment of this product tested the fundamental items of pH, foam formation force, the moisture effect of product, the biodegradation degree of product. In case of palm oil, when it was added to this product in 0.25wt%, we could get experiment results that pH appeared in 6.2, foam formation force in product 1wt% solution appeared in 104ml per 30sec, the skin moisture effect of product appeared in incleasing from 82 a.u to 90 a.u within one hour since we have used the product, the biodegradation degree of surfactant appeared in 96.7%. According to the experiment result of product, we could know the fact that it has a high quality in comparison with other products.

• Journal of Korea Port Economic Association
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• v.36 no.4
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• pp.1-16
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• 2020

Since Korea has excellent port infrastructure and competitive petrochemical complexes, there is plenty of potential for creating an oil hub in Northeast Asia. In particular, Ship-to-Ship (STS), which creates high added values, contributes greatly to the national economy. In this study, the liquid cargo volumes of chemical industrial products, refined petroleum products, and crude oil were analyzed at the national and regional (Busan, Ulsan, and Yeosu/Gwangyang) levels. Additionally, a Granger causality analysis was performed between imports, exports, and transshipments, in pairs. ADF, PP, and KPSS were analyzed for the unit root test. In addition, the VAR model and expanded VAR model suggested by Toda and Yamamoto were used for further analyses. Findings revealed a difference in Granger causality depending on the region or cargo type. These findings suggest that policies and incentive schemes for ports need to be differentiated according to the region and cargo types. In addition, the different patterns in the relationship between transshipments and import-export petrochemical cargoes should be considered.

• Tribology and Lubricants
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• v.27 no.2
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• pp.65-70
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• 2011

The power servo cylinder for driving accurately turbine stop valve of an atomic power plant is necessary to do turn-over owing to a leakage of oil and a structure problem, especially, it of a power plant be in demand a high quality standard depends entirely on import. There are much problem that the AlBC be to used as a material of piston head in cylinder are caused by wear. Therefore, it is necessary to examine friction characteristics of it. In this study, wear test experiments was carried out with AlBC and SCM440, using reciprocating friction tester of pin on disk. This result was shown that the wear mechanism of AlBC on working condition is adhesive wear and the maximum temperature of infra redray thermal image of frictional surface show over 2 mm from contact surface of pin and disk.

• Journal of Ocean Engineering and Technology
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• v.23 no.6
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• pp.99-104
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• 2009

PTFE has good mechanical and chemical stability at a wide range of temperatures and demonstrates a low friction coefficient value. PTFE is being used for self-lubricating parts in industry. But it shows a high wear rate. Thus, PTFE and nano-diamond powder were mixed into a composite and the wear properties of a PTFE coating layer on Al6061 was investigated. A ball-on-disk type of wear tester was used under a dry condition and different temperatures of oil. After the wear test, the wear track wasexamined by optical microscope. The PTFE-diamond showed the lowest friction coefficient (0.02) of all the lubricants in the experiments. The friction coefficient was shown to be directly related to the diamond powder in the PTFE coating. Adhesion estimations were performed by a scratch test, which is mainly used for coatings. The critical load between the coating and substrate was defined through analyses of the friction load, normal load curve, and acoustic emissions, along with optical microscope observations. The scratch test results showed that an import item (SWISS) gave the highest critical load values.