• Journal of Navigation and Port Research
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• v.46 no.4
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• pp.351-358
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• 2022

This study analyzed changes in the market concentration of Korean ocean-going shipping companies using shipping revenue based CR (Concentration Ratio), and HHI (Herfindahl - Hirschman Index) to examine the effects of the government's selection and concentration based the shipping reconstruction scheme. The results of this study showed that the market structure of the Korean shipping industry has changed from a competitive market to a rather concentrated market, as CR as well as HHI values have increased from 2019 to 2021. In particular, the market share of the deep-sea shipping lines has risen significantly compared to the intra-Asian short-sea shipping lines and the tramp carriers, implying that the Korean liner shipping market has become a monopoly, or highly concentrated oligopoly market. Compared to other shipping markets, the high rise in ocean freight rates (i.e. Asia-Europe America) was the leading cause of the increase in the revenues of the ocean-going shipping lines, and the increased fleet through preemptive government support has enabled them to achieve more revenues. As a result, it can be interpreted that the government's fleet expansion strategy has been more effective than expected, but it is too early to conclude if the market structure of the Korean ocean-going shipping companies has been strengthened.

• Korea Trade Review
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• v.43 no.6
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• pp.51-70
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• 2018

This study is to define the relationship between capital structure and the market share in the global shipping market, estimating the debt-equity ratio. To analyze the impact of the debt-equity ratio on market share, this study collected data from the 100 largest shipping companies from 2010 to 2017. Results identified that global shipping lines moderate their debt-equity rates to 62%, and all of them strategically utilize debt in order to increase market share in global shipping market. In comparison between the group focused on cargo volume and another group focused on freight rates, it is found that the group focused on cargo volume increase their handling cargo volume through increasing the debt rates. Another group used debt rate for reducing the freight rate and enhancing market power. Furthermore, after classifying the samples into high-growth and low-growth companies, this study compared the group focused on cargo volume and another group focused on freight rates. As a result, the low-growth group showed more significant impacts of the debt rate on market share than the high-growth group. The results of this study provide useful insight for future strategic decision making of shipping lines in the global shipping market.

• Korean Journal of Fisheries and Aquatic Sciences
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• v.9 no.1
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• pp.43-55
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• 1976

Fertilization and early development of turbo cornutus was studied based on the samples which were collected in Yeosu area. Particular emphasis was paid on induction of artificial spawing, fertilization rate, preembryonic development, the growth of the early larva and larval survival to various salinity. Among the various methods for induction of artificial spawning which have been tested for the present study, drying by exposure to air is the. most efficient, and percentage fertilization rate was $83.8-96.4\%$. The diameter of fertilized eggs was $0.182{\pm}0.0028mm$; and the diameter of egg membrane was $0.245{\pm}0.093mm$. Under the temperature range of $20.6-25.4^{\circ}C$ the larvae hatched out after 11:05-11:15 hours of fertilization. After 3.0-3.5 days of fertilization the planktonic larvae begand to settle, and the settlement terminated within 5 days. During the period of 150 days of early culturing the diameter growth of shell(M) and the diameter of shell aperture(A) was formulated as follows: $$1972\;M=0.33e^{0.02070D}$$ $$A=0.19e^{0.02282D}$$ $$1973\;M=0.32e^{0.02282D}$$ $$A=0.16e^{0.02596D}$$ During the same period of early culturing the relative growth of shell diameter and the diameter of shell aperture was formulated as follows : 1972 A=0.6478 S-0.1575 1973 A=0.5897 S-0.0515 After 11 days of larval hatching $0.02-0.18\%$ of planktonic larvae settled. After 150 days of settlement the survival rate of the early shells was $7.4-21.6\%$. Under the temperature range of $21.0-22.7^{\circ}C$ the optimum salinity range for the development of egg and the planktonic larvae was $30-35\%_{\circ}$.

• Journal of Soil and Groundwater Environment
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• v.7 no.2
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• pp.63-71
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• 2002

The authors selected the modified soil method, and then performed the geotechnical and environmental laboratory test, and evaluated whether the modified soil liner could be accepted as a barrier layer in landfill. Unlike the results of the natural soil(CL), those of the hydraulic conductivity test of stabilized soil met the standard value. According to these results, the optimal mixing ratio of a mixture(cement : bentonite : stabilizing agent) was 90 : 60 : 1 with mass ratio(kg) for 1㎥ with soil, and it was possible to use poor quality bentonite. B\circled2 because of a little difference from results with high quality bentonite. B\circled1. The Cation Exchange Capacity(CEC) of the modified soil was increased about 1.5 times compared with the natural soil; however. the change of CEC with a sort of additives was not detected. In order to observe the change of the chemical components and crystal structures, the natural and the modified soils with the sorts of additives were measured by the XRF(X-Ray Flourescence Spectrometer) and SEM, but there was no significant change. The artificial leachate with the heavy meals ($Pb^{2+}$ , $Cu^{2+}$, $Cd^{2+}$ Zn$^{2+}$ 100mg/L) was passed through the natural soil and modified soils in columns. In the natural soil, Cd$^{2+}$ and $Zn^{2+}$ were identified, simultaneously the pH of outflow was lower, and then came to the breakthrough point. The removal efficiency of the natural soil was showed in order of following : $Pb^{2+}$ ≒$Cu^{2+}$ > $Zn^{2+}$ > $Cd^{2+}$ On the other hand, modified soils were not showed the breakthrough condition like the result of the natural soil. The modified soil with the lower quality bentonite, B\circled2(column3) was more stable with respect to chemical attack than that with the higher bentonite, B\circled1(column2) because the change range of outflow pH in columns was less than that of outflow pH in column2. In addition, the case of adding the stabilizing agent(column4) was markedly showed the phenomena.ena.

• Journal of the Korean association of regional geographers
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• v.2 no.2
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• pp.75-92
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• 1996

Geography education is one of the best ways to improve the understanding of other countries. By analyzing Korean and Japanese textbooks on world geography, I tried to find out how well they explain the other country and to set forth guiding principles for geography education. To achieve these aims, weight analysis are used. The major findings in this study can be summarised as follow. The contents of Korean and Japanese geography textbooks were analyzed deviding into 2 major topics, 6 minor topics, and 20 key concepts. (1) By analyzing Korean geography textbook of the 5th curriculum the weight percentages which had been given to each minor topics were found. They are as follow: resource problem(57.7%), human right problem(21.4%), population problem (9.0%), mutual dependence(6.0%), environmental problem(3.3%), international competition(2.6%). (2) By analyzing Korean geography text-book of the 6th curriculum the weight percentages which had been give to each minor topics were found. They are as follow: resource problem(42.7%), human right problem(21.7%), mutual dependence (20.9%), environmental problem(7.7%), population problem(4.6%), international competition(2.4%) (3) By analyzing Japanise geography text-book of 5th curriculum ammendment the weight percentages which had been give to each minor topics were found. They are as follows: resource problem(49.9%) human right problem(21.7%), mutual dependence(15.5%), population problem (7.1%), international competition(6.2%), environmental problem(3.8%) (4) By analyzing Japanise geography textbook of 6th curriculum ammendment the weight percentages which had been give to each minor topics were found. They are as follows human right problem (31.6%), mutual dependence(22.8%), resource problem(20.7%), population problem(12.7%), environmental problem(8.6%), international competition(3.6%). We can see that in the field of dependence Korea and Japan put the similar weight but in the field of common problem they put the fairly different weight. It can be viewed as the difference of curriculum. That is to say Korea used both the systematic method on the basis of unit but Japan used only topical method on the basis of unit. Therefore Korean geography textbook introduce agriculture, forestry, fishery, mining industry and manufacturing industry. Japanese textbook, however gives a detailed account about residents' lives in specific area. For that reason in Korean textbook, resource was stressed, while in Japanese textbook, culture was stressed.

• Journal of the Korean association of regional geographers
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• v.6 no.2
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• pp.21-40
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• 2000

The retail trades in many countries have changed recently according to the high quality, diversification, and marked individuality of consumer needs. Under the continually competing system of the WTO agreement, corporations based in the USA and the EU try to raise their market share in other countries so it is inevitable for Korean retail enterprises to compete with them. This paper is aimed at contributing to the efficient growth for Korean retail trade from the analysis of the development process in retail trade and its changing locations comparing Korea and the USA. Retailers in the USA have practiced diversified marketing strategies considerably in order to survive in a rapidly changing retailing environment. American retailing, which has the most advanced marketing system in the world, has been of growing concern to marketing strategies in Korea. The following is a brief summary of this study. 1. Speedy and higher quality consumption is needed in accordance with the great increase in the single-family household and the female labor force participation both in Korea and in the USA. Senior citizens have become a new consumer group due to the aging population. In the future the retail trade will switch over to diversified retail formats and internet shopping as countries are transformed into information and communication societies. 2. In Korea, the former retail system characterized by markets and department stores has been greatly changed since the late 1980s with emphasis on high quality and convenience in consumption behaviors, with large domestic enterprises and foreign distribution corporations participating in Korean retailing. In the USA, retailing mergers and takeovers by major retails, bankruptcies, and extra-large shopping centers have emerged since the late 1980s. Recently, the USA retailing formats have been changed from the lower price-oriented discount types to the large scale theme parks. Much emphasis was put on entertainment, resorts, and convention centers. On the other hand, non-store types, such as the internet shopping, the CATV shopping, as well as catalog and mail-order sales are drastically increasing, although the proportion of their sales is low up to now. 3. In Korea, most of the retail facilities are concentrated in Seoul and the Metropolitan Region, and the distribution ratio of facilities came to 52% in 1997. The periodic markets, traditional markets which open on a periodic basis, are located mainly in Chollanam-do and Kyungsangbuk-do. The large-sized discount stores have expanded their locations to the over-crowded apartment complexes in new towns, located in the Metropolitan Region, and the large provincial cities, unlike the suburban locations in the USA. Therefore we needed to give attention to the locational relations in retail facilities between Seoul & the Metropolitan Region and rural settlement areas. In the USA, urban areas grew quickly with the development of the automobile in the 1920s, and the location of stores changed from a dispersed style centering around rural areas to a centralized one in urban areas. There is an accelerated growth for suburban areas, which have grown rapidly since 1950. As the membership warehouse clubs were introduced in the 1970s, the decentralization of location was more intensified. On the other hand, inner cities were revitalized by rearranging existing facilities to cope with suburban areas. And the location-free virtual retailing & TV shopping are also growing every year. 4. In view of the above, the continuous and desirable development devices in Korean retail trade are summarized as follows: First, the countermeasures against economies of scale, increase in retailing sales, and rise of a employment percentage in retailing are in need. Second, a scheme of lowering the proportion of food retail sales, and increasing a ratio of durable goods sales need to be worked out. Third, the original ideas are needed to apply positively information, communication and technology to retailing, to graft the traditional types on modem ones based on the social culture. Fourth, strategies are needed to strengthen the competitiveness of our retail trade through cooperation and chains of smaller retailers, the large enterprises participating in the distribution industry. Fifth, in order to realize the above, the retail industry, the administration, and the academic world should support the retail segment with concern and a practical strategy plan.

• Journal of Korean Society of Forest Science
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• v.79 no.2
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• pp.187-195
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• 1990

The following conclusions have been obtained with special reference to the walnut marketing system in Cheonwongun districts 1. The marketing channel of walnut in the producing areas was mainly depended on the individual selling by 89.58%. and sale through farmer's coops and forest owner's association by 10.42%, and share of walnut through fatmer's coops was 84.58%. 2. The market structure in assembling stage of walnut can be represented as oligopoly considering the market share of 86.26% derived by CR3 method. 3. Direct selling from producers to consumers would be recommendable to reduce marketing margin considering the 77.20% of sale's dependency on assembler-commisioner. 4. Two major reasons to follow the marketing channel of assembler-commissioner were the convieniency (45.00%) and dealing with small quantity of walnut (20.00%). Let the walnut producers follow the institutional marketing channels such as farmer's coops and forest owner s association, special actions including better conveniency, smaller quantity and the procedures should be improved. 5. Farmer's share of walnut was estimated as 54.93% and total marketing margin was 45.0% of which 36.70% destined to the retail stage. 6. The price index in November was the lowest(83.63) due to the flood and hunger sale and the index in April was the highest(115.74). To cope with the severe price fluctuation and to stabilize seasonal walnut price, sale's in advance, credit supply and provision of storage facilities must be considered in policy-making decision for forest farmers.

• KDI Journal of Economic Policy
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• v.12 no.1
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• pp.31-68
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• 1990

The concentration of economic power takes the form of one or a few firms controlling a substantial portion of the economic resources and means in a certain economic area. At the same time, to the extent that these firms are owned by a few individuals, resource allocation can be manipulated by them rather than by the impersonal market mechanism. This will impair allocative efficiency, run counter to a decentralized market system and hamper the equitable distribution of wealth. Viewed from the historical evolution of Western capitalism in general, the concentration of economic power is a paradox in that it is a product of the free market system itself. The economic principle of natural discrimination works so that a few big firms preempt scarce resources and market opportunities. Prominent historical examples include trusts in America, Konzern in Germany and Zaibatsu in Japan in the early twentieth century. In other words, the concentration of economic power is the outcome as well as the antithesis of free competition. As long as judgment of the economic system at large depends upon the value systems of individuals, therefore, the issue of how to evaluate the concentration of economic power will inevitably be tinged with ideology. We have witnessed several different approaches to this problem such as communism, fascism and revised capitalism, and the last one seems to be the only surviving alternative. The concentration of economic power in Korea can be summarily represented by the "jaebol," namely, the conglomerate business group, the majority of whose member firms are monopolistic or oligopolistic in their respective markets and are owned by particular individuals. The jaebol has many dimensions in its size, but to sketch its magnitude, the share of the jaebol in the manufacturing sector reached 37.3% in shipment and 17.6% in employment as of 1989. The concentration of economic power can be ascribed to a number of causes. In the early stages of economic development, when the market system is immature, entrepreneurship must fill the gap inherent in the market in addition to performing its customary managerial function. Entrepreneurship of this sort is a scarce resource and becomes even more valuable as the target rate of economic growth gets higher. Entrepreneurship can neither be readily obtained in the market nor exhausted despite repeated use. Because of these peculiarities, economic power is bound to be concentrated in the hands of a few entrepreneurs and their business groups. It goes without saying, however, that the issue of whether the full exercise of money-making entrepreneurship is compatible with social mores is a different matter entirely. The rapidity of the concentration of economic power can also be traced to the diversification of business groups. The transplantation of advanced technology oriented toward mass production tends to saturate the small domestic market quite early and allows a firm to expand into new markets by making use of excess capacity and of monopoly profits. One of the reasons why the jaebol issue has become so acute in Korea lies in the nature of the government-business relationship. The Korean government has set economic development as its foremost national goal and, since then, has intervened profoundly in the private sector. Since most strategic industries promoted by the government required a huge capacity in technology, capital and manpower, big firms were favored over smaller firms, and the benefits of industrial policy naturally accrued to large business groups. The concentration of economic power which occured along the way was, therefore, not necessarily a product of the market system. At the same time, the concentration of ownership in business groups has been left largely intact as they have customarily met capital requirements by means of debt. The real advantage enjoyed by large business groups lies in synergy due to multiplant and multiproduct production. Even these effects, however, cannot always be considered socially optimal, as they offer disadvantages to other independent firms-for example, by foreclosing their markets. Moreover their fictitious or artificial advantages only aggravate the popular perception that most business groups have accumulated their wealth at the expense of the general public and under the behest of the government. Since Korea stands now at the threshold of establishing a full-fledged market economy along with political democracy, the phenomenon called the concentration of economic power must be correctly understood and the roles of business groups must be accordingly redefined. In doing so, we would do better to take a closer look at Japan which has experienced a demise of family-controlled Zaibatsu and a success with business groups(Kigyoshudan) whose ownership is dispersed among many firms and ultimately among the general public. The Japanese case cannot be an ideal model, but at least it gives us a good point of departure in that the issue of ownership is at the heart of the matter. In setting the basic direction of public policy aimed at controlling the concentration of economic power, one must harmonize efficiency and equity. Firm size in itself is not a problem, if it is dictated by efficiency considerations and if the firm behaves competitively in the market. As long as entrepreneurship is required for continuous economic growth and there is a discrepancy in entrepreneurial capacity among individuals, a concentration of economic power is bound to take place to some degree. Hence, the most effective way of reducing the inefficiency of business groups may be to impose competitive pressure on their activities. Concurrently, unless the concentration of ownership in business groups is scaled down, the seed of social discontent will still remain. Nevertheless, the dispersion of ownership requires a number of preconditions and, consequently, we must make consistent, long-term efforts on many fronts. We can suggest a long list of policy measures specifically designed to control the concentration of economic power. Whatever the policy may be, however, its intended effects will not be fully realized unless business groups abide by the moral code expected of socially responsible entrepreneurs. This is especially true, since the root of the problem of the excessive concentration of economic power lies outside the issue of efficiency, in problems concerning distribution, equity, and social justice.