• Environmental and Resource Economics Review
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• v.11 no.3
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• pp.397-414
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• 2002

This paper presents an empirical analysis of exchange rate volatility, petroleum's import price and industrial production on petroleum imports. The GARCH framework is used to measure the exchange rate volatility. One of the most appealing features of the GARCH model is that it captures the volatility clustering phenomenon. We found one long-run relationship between petroleum imports, import price, industrial production, and exchange rate volatility using Johansen's multivariate cointegration methodology. Since there exists a cointegrating vector, therefore, we employ an error correction model to examine the short-run dynamic linkage, finding that the exchange rate volatility performs a key role in the short-run. This paper also apply impulse-response functions to provide the dynamic responses of energy consumption to the exchange rate volatility. The results show that the response of energy consumption to exchange rate volatility declines at the first month and dies out very quickly.

• Transactions of the Korean hydrogen and new energy society
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• v.28 no.6
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• pp.704-711
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• 2017

Korea, which has a high dependency on energy imports, is greatly affected by fluctuations in international oil prices. In order to offset these effects, various policies such as 'diversification of energy sources' and 'energy mix' are being pursued. Renewable Fuel Standard (RFS) is a policy promoted for this purpose, and a compulsory mixing system is applied only to the diesel. In order to reduce dependence on fossil fuels in various countries, they are concentrating on the dissemination of bio-alcohol as well as bio-diesel, and commercialization through various verification. In this study, evaluation of domestic materials and vehicles was carried out to promote domestic bio alcohol fuel. We analyzed the fuel characteristics of domestic quality standard items by mixing them with gasoline of automobile at a certain mixing ratio (0%, 3%, 6%, and 10%).

• KDI Journal of Economic Policy
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• v.42 no.4
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• pp.1-25
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• 2020

The international community's sanctions against North Korea, triggered by North Korea's nuclear tests and by missile development in the country, are considered the strongest sanctions in history, banning exports of North Korea's major items and limiting imports of machinery and oil products. Accordingly, North Korea's trade volume decreased to the level of collapse after the sanctions, meaning that the sanctions against North Korea were considered to be effective. However, according to this paper, which analyzed the price fluctuations of refined petroleum products in North Korea through the methodology of an event study, the market prices of oil products were only temporarily affected by the sanctions and remained stable over the long run despite the restrictions on the volumes of refined petroleum products introduced. This can be explained by evidence that North Korea has introduced refined oil supplies that are not much different from those before the sanctions through its use of illegal transshipments even after the sanctions. With regard to strategic materials such as refined oil, the North Korean authorities are believed to be desperately avoiding sanctions by, for instance, finding loopholes in the sanctions to meet the minimum level of demand.

• Journal of the Korea Society of Computer and Information
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• v.28 no.5
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• pp.155-161
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• 2023

97.5% of our country's exports and 87.2% of imports are transported by sea, making ports an important component of the Korean economy. To efficiently operate these ports, it is necessary to improve the short-term prediction of port water volume through scientific research methods. Previous research has mainly focused on long-term prediction for large-scale infrastructure investment and has largely concentrated on container port water volume. In this study, short-term predictions for petroleum and liquefied gas cargo water volume were performed for Ulsan Port, one of the representative petroleum ports in Korea, and the prediction performance was confirmed using the deep learning model LSTM (Long Short Term Memory). The results of this study are expected to provide evidence for improving the efficiency of port operations by increasing the accuracy of demand predictions for petroleum and liquefied gas cargo water volume. Additionally, the possibility of using LSTM for predicting not only container port water volume but also petroleum and liquefied gas cargo water volume was confirmed, and it is expected to be applicable to future generalized studies through further research.

• Journal of the Korean Professional Engineers Association
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• v.12 no.3
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• pp.12-17
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• 1979

The form of the Enterprise of the L.N.G project Consists of such three enterprises that the Construction and operation of the liquefcation plant of the Natural gas, and L.N.G. tankers Operating enterprise and the receiving and storaging plant of the L. L.N.G., above mentined three enterprises Concerned with capital and technique mutually, and so it arises such results that the foundmental requirements of the fuel the long-term and safty-price suply of the L.N.G. are met.

• Environmental and Resource Economics Review
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• v.12 no.4
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• pp.637-661
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• 2003

This paper analyzes the impact of import liberalization of petroleum product market in 1997 on the behavior of a domestic industry, regarded as a typical oligopoly. Based on the theory of implicit cartel, two regression equations were formulated and estimated for domestic production and refinery margin using monthly data for the period from Jan. 1994 to June 2003. Estimation results show that not only did domestic production rise sharply but also the refining cost fell substantially throughout 1996 before the actual liberalization of imports, Such a response is clearly consistent with the implicit cartel theory, which suggests that once the difficulty of maintaining a cartel in the future is recognized, the cartel immediately collapses and anticipation of import liberalization can cause immediately lowering market price as well as an immediate expansion of the supply by a domestic industry. However, the significant reduction of refinery cost accompanied by a large contraction in domestic output after the actual implementation of import liberalization can be explained by the collapse of implicit cartel caused by the anticipated liberalization of imports. Thus, import liberalization in the sense of allowing entry of foreign producers into domestic market has seemed to be an effective means to weaken market power and induce more competitive conduct of domestic firms.

• Journal of Korea Trade
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• v.23 no.3
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• pp.20-37
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• 2019

Purpose - The purpose of this paper is to analyze the trade structure and competitiveness of China's information technology (IT) industry in comparison to that of Korea and the United States, particularly in terms of quality. Design/methodology/approach - Indices such as trade specialization index (TSI), Revealed Comparative Advantage (RCA), and Market Comparative Advantage (MCA) are used. Further, an Intra-industry Trade (IIT) index is used to analyze qualitative changes in horizontal intra-industry trade and intra-industry trade of high- and low-quality goods. Findings - China's IT industry has a comparative competitive advantage over that of Korea and the United States, and mainly exports goods of inferior quality and imports goods of superior quality. Further, China's horizontal intra-industry trade has been decreasing, while its vertical intra-industry trade has been increasing and vertical trade of inferior quality goods outweighs that of superior quality goods. This shows that China is rapidly catching up with Korea and the United States, even though its qualitative competitiveness has not significantly improved. Research limitations/implication - This study has academic and political implications, as it analyzes changes in China's IT trade competitiveness. However, it is somewhat limited as factors determining qualitative aspects has not been considered. Originality/value - Most studies aggregate analyses of export competitiveness using methodologies such as TSI, RCA, and market share. However, the focus of these methods is price competitiveness. Hence, an examination of the objective and qualitative trade competitiveness of China's IT industry is necessary. this study the trade structure and quantitative competitiveness of the industry by analyzing intra-industry trade focusing on the quality of competitiveness. Therefore, the changes in China's IT industry in the USA and Korea and in foreign trade competitiveness and quality competitiveness are clarified. The results show that the academic and policy implications of these changes in the IT industry will be a useful resource. This is the first study in Korea to attempt such an analysis. This is the first study in Korea to attempt such an analysis.

• Korea Trade Review
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• v.42 no.2
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• pp.277-296
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• 2017

More than 95% of imports and exports in the World are being transported by vessels. In other words, marine transportation accounts for a large portion of share in the world trade. The purpose of this study is to analyze factors of seaborne trade volume according to items affecting on the world economy. This study conducted a linear regression analysis between seaborne trade volume and the world economy (world GDP) to estimate the correlation between them. Panel data analysis and random effects model analysis have been applied to examine the effect of seaborne trade volume. For this study, the seaborne trade volume is categorized into 10 items, and estimated how much global GDP will be affected when the trade volume changes. In addition, the granger causality test was conducted to verify the relationship between seaborne trade volume and the world GDP. As a result, seaborne trade volume and the world GDP were mutually influenced each other. However, seaborne trade volume affects the world economy more significantly. The items affecting world economic growth include petroleum products, crude oil, chemical products, and so on. The estimated value of the coefficients of petroleum products, crude oil and chemical products were 1.014, 1.013 and 1.010, respectively. The estimated value 1.014 of petroleum products means that the growth rate is 1.014 times higher than the current world GDP growth rate when the seaborne trade volume of petroleum products increased by one unit Lastly, this study examines the seaborne trade volume of 10 categories and then verifies whether the growth rate of world GDP will increase when the volume of seaborne trade increased. This study is expected to provide policy-makers with useful information about formulating policies related to international trade.

• The Korean Journal of Petroleum Geology
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• v.7 no.1_2 s.8
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• pp.19-27
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• 1999

Korea, an energy-resources-poor country, imports $100{\%}$ of its, oil and, natural gas supply, which accounts for the greater part of its total primary requirements. One of the important task of the government is diversification of available energy resources such as oil and natural gas. Natural gas hydrate, which is non-conventional types of natural gas, distributes worldwide, especially in marine and permafrost. It would become a target of natural gas resources in the near future. Especially sigrificant amount of hydrates are expected to be located in the East Sea around Korea Peninsular. This paper describes about a multi-year overall project framework of basic research and technological development of natural gas hydrate in Korea focused on the interpretation of the seismic survey, the characteristics and physical properties of the natural gas hydrate, and the utilizable technology of natural gas hydrates from the status of research and development of the world.

• International Journal of Advanced Culture Technology
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• v.4 no.1
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• pp.1-9
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• 2016

The demand for energy in Thailand has been continually increasing as the economic and social country grows. Approximately 60% of Thailand's primary energy is imported, mostly petroleum products. In 2008 Thailand's total energy consumption was 80,971 ktoe and the net price of energy imported was up to 1,161 billion Baht which is equivalent to 12.8% of GDP at the current price. The energy consumption or energy demand has been growing at an annual compounded growth rate of 6.42% and the peak electric power demand and electricity consumption was recorded at 22,568 MW and 148,264 GWh and grew at a rate of 7.0% and 7.5% per annum during the period from 1989 to 2008. The gross agriculture production in 2008 was recorded at 135.4 Mt which represents agriculture residue for energy at 65.73 Mt, which is equivalent to energy potential of about 561.64 PJ or 13,292 ktoe an increase in average of 5.59% and 5.44% per year respectively. The agricultural residues can converted to 15,600 GWh/year or 1,780 MW of power capacity. So, if government sector plan to install small biomass gasification for electricity generation 200 kW for Community. The residue agricultural is available for 8,900 plants nationwide. The small biomass power generation for electricity generation not only to reduce the energy imports, it also makes the job and income for people in rural areas as well. This paper's aim is to report the energy situation in Thailand and has studied 5 main agricultural products with high residue energy potential namely sugarcane, paddy, oil palm, cassava, and maize appropriate for small electricity production. These agricultural products can be found planted in many rural areas throughout Thailand. Finally, discuss the situation, methods and policies which the government uses to promote small private power producers supplying electricity into the grid.