followed by establishing the defense industrial policy objectives and making e®orts to reach them. Accordingly, the defense export dragged attention from the defense industry sector and as a result recorded nearly 0.8 billion dollars in 2011 which is doubled amount compared to year 2008. Considering that defense technology valuation is inevitable in defense trade, the defense technology valuation is going to be a key issue for the domestic defense R&D invested equipment including main battle tanks, armored vehicles, air trainers etc. This paper presents the defense R&D technology valuation model with the in-depth analysis of its theories and current status both domestic and abroad. Also, it provides relevant policy issues and directions in the near future. It should contribute to boosting the defense technology valuation¯elds and to formulating a concrete tool for analyzing defense R&D technology valuation in the near future. A Technology Valuation Model for the Defense R&D 1350017-3 Int. J. Innovation Technol. Management 2013.10. Downloaded from www.worldscientific.com by MCMASTER UNIVERSITY on 02/05/15. For personal use only. A Technology Valuation Model for the Defense R&D 1350017-9 Int. J. Innovation Technol. Management 2013.10. Downloaded from www.worldscientific.com by MCMASTER UNIVERSITY on 02/05/15. For personal use only. A Technology Valuation Model for the Defense R&D 1350017-13 Int. J. Innovation Technol. Management 2013.10. Downloaded from www.worldscientific.com by MCMASTER UNIVERSITY on 02/05/15. For personal use only.
Defense offset has been implemented by a countertrade obligation in defense acquisition contracts between purchasing countries and foreign selling companies in the global arms market. It gives the buyer a valuable opportunity to acquire not only defense R&D technologies, but also parts production and other advantages. Even though the importance of defense offset trade is greatly increasing today, purchasing countries still need more objective and credible valuation methods by mutual agreement in defense offset contracts.Whereas the income approach is widely used for commercial fields, it is rarely applied to defense acquisition projects. This paper presents the income approach-based technology valuation model in the defense offset program of the Republic of Korea. The contribution of this paper is in the application of the Defense Offset Valuation with INcome approach (DOVIN) model and its empirical implementations to defense offset contracts. It also shows several policy implications that could be applied to the defense offset program.
− The efficient steam drum should be required to reduce carbon oxide emissions and heat recovery in oxygen converter hood system. However, steam generation is limited to the time of the oxygen blowing period, which is intermittent or cyclical in operation of steel-making process. Thus, steam drum should be optimized for an effective steam generation during the oxygen blowing portion of the converter cycle. In this study, a three-dimensional computational fluid dynamics (CFD) model has been developed to describe the impacts of changing various operating conditions and geometric shape on thermo-fluid characteristics and performance of the steam drum. This model encompasses not only fluid flow and heat transfer but also evaporation and condensation at the interfacial surface in the steam drum by using VOF (Volume of Fluid) method. To validate the prediction performance of this model, comparison of the steam flow rate between numerical and experimental result has been performed, resulting in the accuracy of the relative error by less than 3.2%.
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