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A study on Regional Economic Impacts Due to Launch of International Ferry Terminal at Seosan-Daesan Port  

Yun, Kyong-Jun (인천대학교 동북아물류대학원)
Kim, Sung-Young (인천콜드프라자(주))
Ahn, Seung-Bum (인천대학교 동북아물류대학원)
Publication Information
Journal of Korea Port Economic Association / v.34, no.2, 2018 , pp. 17-30 More about this Journal
Abstract
The regional industry promotion system, which seeks to link the characteristics and resources of the region to its core strategic industry, is spreading the industrial resources in the form of an organic network. The Seosan-Daesan Port is the only port in the Chungcheong provinces that is equipped with international passenger dock and terminal, and it will soon have a ferry service operating to the Longyan port in Rongcheng, China in 2018. The study focuses on effects of the first international ferry operation in the provinces that are being realized with the aim of developing the regional industry. The study also analyzes the ripple effects on the tourism and port industries in the provinces by tapping into the 2013 regional inter-industry table. The analysis shows that the scheduled ferry operation will generate 47,815 million won in production and 23,423 million won in added value for the region's tourism industry. It will also generate total revenue of 12,567 million won for the port industry driven by the locally handled freight containers and the added value. Currently, the Korea-China ferry operation in other regions exhibits greater dependence on the cargo than the passengers. Thus, for the international ferry operation to and from Seosan, generating maximum employment in tourism from the passengers of the international ferry operation will require strategic marketing to attract tourists. At the same time, a steady supply of cargo needs to be sustained by maintaining a balance between import and export cargoes. Furthermore, greater efforts should be made to create more sea routes than other regions or to increase voyages for the purpose of generating more added value.
Keywords
Seosan-Daesan Port; Regional economy; Car ferry industry; Input-Output Analysis;
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