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Integrated National Energy Planning: A Case Study of the Republic of Korea

Byong-hun Ahn, Hvung-wook Kim, Dale M. Neshitt, and Robert L. Phillips

Year: 1986
Volume: Volume 7
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol7-No2-2
View Abstract

Like other oil-importing countries, the Republic of Korea was surprised by the rapid oil price escalation of the 1970s. Following the lead of the United States, Europe, and Japan, Korea's energy policy in the mid-1970s was based on reducing oil imports by substituting other fuels, installing more efficient oil conversion processes, or doing without. Due in part to the urgency of the situation and in part to a lack of accumulated analytical capability, it was difficult to analyze in depth which alternatives were best, how much they would cost, or to what extent it was in Korea's best interests to bear large economic costs to reduce oil imports. Rather, Korean policymakers implemented a broad-based oil consumption reduction program to mitigate their immediate oil import problem.

Power Balance and Equilibrium Channel Structure in the Korean Gasoline Market

Byong-Hun Ahn and Heon Jung

Year: 1994
Volume: Volume15
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol15-No1-10
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This study analyzes how power balance in a vertical channel affects equilibrium channel structure and channel members' profits in an oligopolistic gasoline market. Using a game theoretic analysis, we study an equilibrium channel structure under different power balance scenarios. We show that refiners cannot increase their profits by strategic disintegration when their intermediaries retain more power than they do. We also investigate power balance issues in three-level, unintegrated channels. Finally, we apply our results to the gasoline market in Korea, and discuss policy implications.

Decomposition of Aggregate Energy and Gas Emission Intensities for Industry: A Refined Divisia Index Method

B. W. Ang and Ki-Hong Choi

Year: 1997
Volume: Volume18
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol18-No3-3
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Several methods for decomposing energy consumption or energy-induced gas emissions in industry have been proposed by various analysts. Two commonly encountered problems in the application of these methods are the existence of a residual after decomposition and the handling of the value zero In the data set. To overcome these two problems, we modify the often used Divisia index decomposition method by replacing the arithmetic mean weight function by a logarithmic one. This refined Divisia index method can be shown to give perfect decomposition with no residual. It also gives converging decomposition results when the zero values in the data set are replaced by a sufficiently small number. The properties of the method are highlighted using the data of the Korean industry.

An Estimation of Market-Based Carbon-Emission Prices Using Comparative Analogy: A Korean Case

Saedaseul Moon, Deok-Joo Lee, Taegu Kim, and Kyung-Taek Kim

Year: 2019
Volume: Volume 40
Number: The New Era of Energy Transition
DOI: 10.5547/01956574.40.SI1.smoo
View Abstract

In 2015, Korea became one of the pioneering countries to implement ETS nationwide in Asia. The purpose of this paper is to estimate the market-based prices of carbon credits in Korea by using a comparative analogy approach. In this paper, the comparative analogy is applied as follows: Based on the assumption that the factors affecting carbon prices would be same with the those of EU ETS which is the most matured market in the world, we attempt to estimate the market-based carbon prices of Korea with the estimation model obtained by using the data from EU ETS. After estimating the market-based price of carbon in Korea, we compare the estimated price to the actual observed prices and analyze the reasons why there existed the gap between both prices. Furthermore, we examine the properties of the estimated market-based price with respect to the changes of factors affecting the carbon price through sensitivity analysis

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