• Strategy21
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• s.36
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• pp.121-149
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• 2015

This paper will examine some past and current issues concerning the Republic of Korea's national strategy, focusing predominantly upon how the ROK should respond to the urgent maritime-oriented strategy highlighted by the recent developments and achievements of national prosperity achieved during last three decades and identify some of successful cases in East Asia. Some consideration will also be given to more general emergent issues of trends and developments of East Asian countries which might affect to define the ROK's future national strategy in the context of its national grand strategy to enhance national interests and prosperity. ROK is especially dependent upon open Sea Lanes of Communication (SLOC) and its national security emphasizes the sea as the medium of geopolitical and geo-economic development, given the sea known as core geographic option remains that ROK is an important maritime power, ranking the world-level nation in term of GDP, sea-borne trade, container processing capability, shipbuilding capacity and so on. It should be apparent, therefore, that ROK's national strategic development depends upon the relationship between its peninsula geography and its national development based on sea-borne economic growth and its maritime-oriented future national strategy will be the best option to maintain its national development and economic prosperity.

• Advances in environmental research
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• v.1 no.2
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• pp.125-142
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• 2012

Clean development mechanism (CDM) validity study was conducted to suggest better and more adaptable CDM scenario on water treatment plant (WTP). Potential four scenarios for CDM project; improvement of intake pumping efficiency, hydro power plant construction, solar panel construction and system optimization of mechanical mixing process were evaluated on S-WTP in Korea. Net present value (NPV) of each scenario was estimated based on sensitivity analysis with the variable factors to investigate the CDM validity percentile. Hydro power plant construction was the best option for CDM business with 97.76% validity and $1,127,069 mean profit by 9,813 $tonsCO_2e$/yr reduction. CDM validity on improvement of intake pumping efficiency was 90.2% with $124,305 mean profit by huge amount of $CO_2$ mitigation (10,347 $tonsCO_2e$/yr). System optimization of mechanical mixing process reduced 15% of energy consumption (3,184 $tonsCO_2e$/yr) and its CDM validity and mean profit was 77.25% and $23,942, respectively. Solar panel construction could make the effect of 14,094 $tonsCO_2$ mitigation annually and its CDM validity and mean profit was 64.68% and $228,487, respectively.

• Journal of the Korean Society of Combustion
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• v.22 no.1
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• pp.14-22
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• 2017

Co-firing of renewable fuel in coal fired boilers is an attractive option to mitigate $CO_2$ emissions, since it is a relatively low cost option for efficiently converting renewable fuel to electricity by adding biomass as partial substitute of coal. However, it would cause reducing plant efficiency and operational flexibility, and increasing operation and capital cost associated with handling and firing equipment of renewable fuels. The aim of this study is to investigate the effects of biomass co-firing on $CO_2$ emission and capital/operating cost. Wood pellet, PKS (palm kernel shell), EFB (empty fruit bunch) and sludge are considered as renewable fuels for co-firing with coal. Several approaches by the co-firing ratio are chosen from previous plant demonstrations and commercial co-firing operation, and they are evaluated and discussed for $CO_2$ reduction and cost estimation.

• Nuclear Engineering and Technology
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• v.55 no.10
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• pp.3559-3570
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• 2023

In the decommissioning of nuclear facilities, Derived Concentration Guideline Level (DCGL) derivation is necessary for the release of the facility after the site remediation, which also needs to be implemented in the stage of establishing a decommissioning planning. In order to derive DCGL, the dose assessment for the receptors can be conducted from residual radioactivity by using RESRAD code. When performing sensitivity analysis on probabilistic parameters, secondary evaluation is performed by assigning a single value for parameters classified as sensitive. However, several options may arise in the handling of nonsensitive parameters. Therefore, we compared the results of the first execution of RESRAD applying probabilistic parameters for each scenario with the results of the second execution applying a single value to sensitive parameters among the probabilistic parameters. In addition, we analyzed the effect of setting options for non-sensitive parameters. As a result, the effect on DCGL were different depending on the application scenario, the target radionuclides, and the input parameter selections. In terms of the overall evaluation period, the DCGL graph of the default option was generally shown as the most conservative except for some radionuclides. However, it will not necessarily be given priority in the aspect of the need to reflect site characteristics. The reason for selecting a probabilistic parameter is the availability of the parameter and the uncertainty of applying a single value. Therefore, as an alternative, it can be consistently applied to distribution as an option for non-sensitive parameters after sensitivity analysis.

• Proceedings of the KIEE Conference
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• 1996.07c
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• pp.1769-1773
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• 1996

The remaining life of generator stator winding has been the controversial issue amomg many experts in this area. The report from Japan claims that they can predict the remaining life of generator winding, while the North American has the negative opinion about it. This study aimed at verifying the validity of both Japanese criteria and North American argument on evaluation of generator winding insulation. Non destructive and destructive tests were performed on two hydro-generators. The test results showed that the trend analysis of stator winding insulation was the better option.

• Proceedings of the KIEE Conference
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• 1996.07b
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• pp.1298-1300
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• 1996

The application field of photovoltaic system which has no-pollution and no-fuel distinctives is being spreaded inspite of its high installation cost. At present, there are three PV systems within the country, which were already installed and have been operated to supply the electric power in remote island. In this paper, the electrification plan of our government on the unelectrified or subelectrified islands is introduced, and the operation results of three PV systems are investigated to discuss the diffusion possibility of PV system as a power supply option.

• Journal of Power Electronics
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• v.10 no.4
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• pp.444-449
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• 2010

The generation of electric power using self excited induction generation (SEIG) is a viable option in remote and rural areas where grid electricity is not available. The generated voltage and frequency of these machines, however, varies with varying loads. This characteristic can be resolved either by adjusting the values of the excitation capacitance or by controlling the prime mover speed. Further, in a single-point constant power application, where the machines deliver a fixed amount of power, the electronic load controller (ELC) can be used to switch-in or switch-out a dump load whenever the consumer load decreases or increases respectively. This paper presents a detailed analysis and the design of a microcontroller based SEIG -ELC system intended for stand-alone pico hydro power generation. The simulated performance of the controller is supplemented by experimental results.

• The Journal of the Korea Contents Association
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• v.13 no.12
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• pp.369-378
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• 2013

The Korean Won-Dollar exchange markets showed radical price movements in the late 1990s and 2008. Therefore it provides good sources for studying volatility phenomena. Using the GARCH option models, I analysed how the prices of foreign exchange options react volatilities in the foreign exchange spot prices. For this I compared the explanatory power of three option models(Black and Scholes, Duan, Heston and Nandi), using the Won-Dollar OTC option markets data from 2006 to 2013. I estimated the parameters using MLE and calculated the mean square pricing errors. According to the my empirical studies, the pricing errors of Duan, Black and Scholes models are 0.1%. And the pricing errors of the Heston and Nandi model is greatest among the three models. So I would like to recommend using Duan or Black and Scholes model for hedging the foreign exchange risks. Finally, the historical average of spot volatilities is about 14%, so trading the options around 5% may lead to serious losses to sellers.

• Journal of Korean Society of Forest Science
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• v.110 no.3
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• pp.453-461
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• 2021

The energy use of forest biomass is crucial to deal with climate change and achieve the carbon-neutral goal. This study aims to analyze the economic feasibility of forest biomass thermal energy facilities and calculate the optimal subsidy level of heat supply to ensure continued operation of the facilities. To achieve this aim, the net present value approach (NPV) and call option price model are adopted considering wood chip price volatilities. The Forest Energy Self-Sufficient Village Project financed by Korea Forest Service is considered as the research case study. In our analysis, when 50% of the initial investment is given to the subsidies and RECs are applied to only power generation, NPV and IRR are both negative and the investment value using the real option model is also zero. We concluded that some heat subsidies should be acknowledged to keep the facilities operating. Besides, the simulation results reveal reliable economic values when the heating subsidy is priced at KRW 0.0248 per kcal.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.272-275
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• 2009

Carbon finance is the investment in Greenhouse Gas (GHG) emission reduction projects in developing countries and countries with economies in transition within the framework of the Kyoto Protocol's Clean Development Mechanism (CDM) or Joint Implementation (JI) and with creation of financial instruments, i.e., carbon credits, which are tradable in carbon market. The additional revenue generated from carbon credits will increase the bankability of projects by reducing the risks of commercial lending or grant finance. Meantime, it has also demonstrated numerous opportunities for collaborating across sectors, and has served as a catalyst in bringing climate issues to bear in projects relating to rural electrification, renewable energy, energy efficiency, urban infrastructure, waste management, pollution abatement, forestry, and water resource management. Establishing additionality is essential for successful CDM project development. One of the key steps is the investment analysis. As guided by UNFCCC, financial indicators such as IRR, NPV, DSCR etc are most commonly used in both Option II & Option III. However, economic indicator such as Economic Internal Rate of Return(EIRR) are often overlooked in Option III even it might be more suitable for the project. This could be due to the difficulties in economic analysis. Although Asian Development Bank(ADB) has given guidelines in evaluating EIRR, there are still large amount of works have to be carried out in estimating the economic, financial, social and environmental benefits in the host country. This paper will present a case study of a CDM development of a 18 MW hydro power plant with carbon finance option in central Vietnam. The estimation of respective factors in EIRR, such as Willingness to Pay(WTP), shadow price etc, will be addressed with the adjustment to Vietnam local provincial factors. The significance of carbon finance to Vietnam renewable energy development will also be addressed.