• Journal of Korea Port Economic Association
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• v.38 no.4
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• pp.107-118
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• 2022

In this study, daily data from January 2002 to June 2022 were used to investigate the relationship between risk-return relationship and market fear, uncertainty, stock market, and maritime freight index for the crude oil market. For this study, the time varying EGARCH-M model was applied to the risk-return relationship, and the wavelet consistency model was used to analyze the relationship between market fear, uncertainty, stock market, and maritime freight index. The analysis results of this study are as follows. First, according to the results of the time-varying risk-return relationship, the crude oil market was found to be related to high returns and high risks. Second, the results of correlation and Granger causality test, it was found that there was a weak correlation between the risk-return relationship and VIX, EPU, S&P500, and BDI. In addition, it was found that there was no two-way causal relationship in the risk-return relationship with EPU and S&P500, but VIX and BDI were found to affect the risk-return relationship. Third, looking at the results of wavelet coherence, it was found that the degree of the risk-return relationship and the relationship between VIX, EPU, S&P500, and BDI was time-varying. In particular, it was found that the relationship between each other was high before and after the crisis period (financial crisis, COVID-19). And it was found to be highly associated with organs. In addition, the risk-return relationship was found to have a positive relationship with VIX and EPU, and a negative relationship with S&P500 and BDI. Therefore, market participants should be well aware of economic environmental changes when making decisions.

• Journal of Navigation and Port Research
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• v.35 no.3
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• pp.243-251
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• 2011

The container ports have been increasingly changed according to the industry structure and differentiated customer's needs. So it seems to need the differentiated service strategies to have their competitiveness. To assess the customer requirements objectively, this paper associated the service process of container ports with the service quality scale by using the Quality Function Development(QFD). This paper analysed the service process of Busan port and then compared it with those of Shanghai port and Tokyo port which are the typical port of the northeast asia. Also, after drawing the importance of the service process as well as its priorities by representing the relation between service quality scale and processes of the container ports, this paper proposed the House of Quality(HOQ) for service quality improvements.

• Journal of Digital Convergence
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• v.13 no.5
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• pp.159-167
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• 2015

The nature of port logistics requires global visibility and traceability. However, the traditional RFID technology still applied cannot meet these demands. IP-USN and M2M in port logistics have faced challenges of the prerequisite of network composition and immense communications at the base where a grand number of containers are installed. To resolve the issue, this study suggests an IP-RFID-based smart port logistics service platform. The IP-RFID-based port logistics service system resolved the communication problem by separating the RFID tag and AP, which allows internet connection, from the tag. The tags connected with thermo-sensors, humidity sensors, pressure sensors, GPS, etc. are attached to the containers insuring global visibility and traceability, key factors in logistics, by obtaining desired real-time information regardless of time and location.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2015.07a
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• pp.11-12
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• 2015

두 선박이 정면에서 마주치며 선박간 상호 통항하거나 상대선을 추월할 경우 각 선박의 선체형상과 선속에 의한 유체력 상호작용에 따른 선박간 간섭력이 발생한다. 선박간 간섭력의 주요한 평가 요소인 횡력과 회두 모멘트의 측정을 통해 두 선박이 근접하였을 때의 위험도와 충돌을 예측할 수 있다. 선행된 간섭력에 관한 연구는 대부분 경험에 의하거나 이론적인 측면에서 관련 연구가 진행되어왔으며, 학계에서 통상적으로 널리 알려진 뉴턴의 연구(1960)에서는 깊은 수심에서 두 선박을 평행하게 항주시켰을 때 선박간 최대 흡인력은 두 선박이 정횡으로 나란하게 위치되는 지점에서 발생하고, 이때의 간섭력은 선속의 제곱에 비례한다고 추정하였다. 현대의 조선기술이 발전함에 따라 선박의 크기는 점점 대형화되고 선박의 운항 효율성 증진을 위한 다양한 선형이 개발되어 실선에 적용되고 있다. 이런 경향에 따라 과거에 비해 현대 선박 운항환경에서의 선박간 간섭은 선박의 크기 및 선형에 의한 영향이 클 것으로 판단된다. 본 연구에서는 선박의 종류별로 대표 선종을 선정하여 두 선박이 정면에서 마주치며 통과하는 운항조건에서의 선속 증가에 따른 선박 상호간 간섭력의 변화를 통상적으로 사용되는 선박조종시뮬레이터를 이용하여 실험 및 분석하여 상관관계를 도출하였다. 선박 유형에 따른 시뮬레이션 실험 결과 최대 횡력은 주로 선미 부근에서 발생하였고 최대 회두모멘트는 선수가 근접할 때 발생하였으며, 선속이 증가할수록 선박 상호간 근접거리가 좁혀졌고 선형별로 각기 다른 선속에서 선미 충돌이 발생하였다. 이 실험연구는 선형에 따른 선박 상호간 근접 시의 횡거리와 통과속력에 대한 기준 설정의 연구 근간을 마련하였고 선박간 교항시 안전운항을 위한 지침이 될 것으로 판단된다.

• Journal of Korea Port Economic Association
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• v.30 no.3
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• pp.163-185
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• 2014

The growth of a city requires substantial resources, an appropriate environment, and the alignment of several factors. City growth also evolves through changes in its history, culture, economics, societies, groups, and government systems. However, current port city development plans designed to encourage the growth of local businesses fail to provide the support needed for both the city and businesses. The recent actions of urban administrations and federal and local governments have revealed that they have yet to create a mature decentralized management system, or perhaps have ignored the reality of needing one. Taking a clear look at the differences between port regions, such as Gwangyang and Pyeongtaek, and understanding their effect on city growth would be a prudent course of action when preparing for future developments. The purpose of this study is to determine the relationship between ports and cities by analyzing the effect of port characteristics on nearby city growth. This study used a comparison analysis to determine how port characteristics affected the growth of Pyeongtaek and Gwangyang. One result of this analysis showed that an increase in the number of goods being imported or exported had a positive effect on the growth of both port cities, In this respect, an aggressive plan and cooperation between the federal and local government should occur simultaneously. Furthermore, efficient local policies that focus on the increase of personnel and material resources should be pursued as a standard strategy, which would also promote the international status of these locations. The results of this study show the importance of government cooperation. The federal government should lead with aggressive strategies that aim to optimize efficiency, while the local government should provide the necessary assistance and coordination in order to achieve optimal results.

• Convergence Security Journal
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• v.8 no.1
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• pp.101-108
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• 2008

This research focuses on the process improvement of port logistics by using Lean methodology. On the one hand, we firstly analyze the current situation and weakness of the processes in port logistics, and then re-design the current processes by the principles of Lean discipline. Based on the appropriately changed processes, the improvement scheme of port logistics will be figured out. On the other hand, we construct the port logistics system by implementing the improved processes. The port logistics' processes accomplished in steel company will be further assorted and identified. The relationship of wharves process, operational process, shipping process, construction process, quality process, and purchasing process are also defined. Every process has been improved by Lean Tools in order to analyze the value added or non-value added processes, to improve the service level, and to reduce the cycle time, inventory, changing time, re-working and waste. Based on above, the appropriate environment that is suitable to Lean process of port logistics will be established and the modeling that can help to implement the improvement scheme will be figured out.

• Journal of Korea Port Economic Association
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• v.39 no.2
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• pp.165-178
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• 2023

This paper presented a management model for continuous development and co-prosperity between freight car transportation companies and consigned car owners, which are the subjects of the consignment system. A structural equation-based questionnaire was created to measure the variables necessary for establishing a management model, such as business owners' perceptions of each other and their needs for improvement, by analyzing the internal and external environment of the freight transport market and conducting surveys of freight companies and consigned vehicle owners. As a result of the analysis, it was confirmed that the rationality of the consignment system did not have a significant effect on financial performance or the level of transportation service, while the external environment and compensation system of the transportation business had a significant impact on financial performance and level of transportation service. In addition, the rationality of the consignment system does not affect the improvement of the relationship between project entities, but it does affect the level of trust. It was confirmed that the external environment and compensation system of the transport business have an effect on both relationship improvement and trust level improvement. It was found that the level of trust affects financial performance, and relationship improvement does not affect both financial performance and transportation service level. It is necessary to manage the consignment system based on the confirmed analysis results in order for the domestic freight company and the consigned vehicle owner to coexist and develop each other in the truck transportation market.

• Journal of Korea Port Economic Association
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• v.37 no.4
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• pp.89-102
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• 2021

The purpose of this paper is to study the impact of shipping service firm's perceived relational benefits on switching barriers and loyalty focusing on tug boat service. To achieve the purpose of the research, literature survey on existing literature, thesis, research report is performed and also reliability analysis, validity test and multiple regression analysis using SPSSWIN 18.0 is used in this research. To verify a research model and hypothesis, a questionnaire survey among employees of shipping companies and shipping agencies was executed. 76 copies of total 200 copies of questionnaires were collected and the number of questionnaire used for empirical analysis was 76 copies. The main results of the study are summarized as below. First, Hypothesis 1 "shipping service firm's perceived relational benefits has a positive impact on the switching barrier" was supported by this study. Second, Hypothesis 2 "shipping service firm's perceived relational benefits has a positive impact on the loyalty" was supported in this research. Finally, Hypothesis 3 "switching barrier has a positive impact on the customer's loyalty" was also supported. Further research can be extended by adding more questionnaires including more shipping service firms all over the nation.

• Journal of Korea Port Economic Association
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• v.33 no.1
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• pp.75-87
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• 2017

The purpose of this study is to utilize the system dynamics to carry out a medium and long-term forecasting analysis of the bunker price. In order to secure accurate bunker price forecast, a quantitative analysis was established based on the casual loop diagram between various variables that affects bunker price. Based on various configuration variables such as crude oil price which affects crude oil consumption & production, GDP and exchange rate which influences economic changes and freight rate which is decided by supply and demand in shipping and logistic market were used in accordance with System Dynamics to forecast bunker price and then objectivity was verified through MAPEs. Based on the result of this study, bunker price is expected to rise until 2029 compared to 2016 but it will not be near the surge sighted in 2012. This study holds value in two ways. First, it supports shipping companies to efficiently manage its fleet, offering comprehensive bunker price risk management by presenting structural relationship between various variables affecting bunker price. Second, rational result derived from bunker price forecast by utilizing dynamic casual loop between various variables.

• Journal of Korea Port Economic Association
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• v.34 no.4
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• pp.181-190
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• 2018

The goal of this study is empirically to investigate the asymmetric relationship between two variables using the dry cargo freight rates and raw material price data from January 2012 to May 2018. First, we estimate the asymmetry of macroeconomic indicators of commodity prices by using a two - step threshold cointegration test. Second, the asymmetric relation test of the trade balance of existing commodity price changes is tested by bypassing to the high frequency dry cargo freight rate index. As a result of the estimation, in contrast to the existing linear analysis, each boundary value for the lower limit and the upper limit has different asymmetry. This implies that the period of fluctuation of the sudden residual that causes irregular rate of return fluctuations does not establish a long term equilibrium relationship between the raw material price and the dry cargo freight rate. Therefore, in order to consider the sudden price change in the analysis, it is necessary to include the band of inaction that controls the irregular volatility, which is consistent with the asymmetry hypothesis.