• International Commerce and Information Review
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• v.14 no.4
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• pp.317-337
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• 2012

This study has investigated shipping finance systems in Korea and China, and extracted negative factors based on it to propose a way to develop the shipping financial system in Korea for shipbuilding industry and marine transportation. From after the global financial crisis in 2008 to right before the Lehman Brothers Holdings bankruptcy, shipping finance has been dominated by the major industrialized countries in Europe. However, the weight point is moving to the countries in Asia region such as Korea, Japan, and China based on relatively strong banking system and low interests rate. This study focused on the alternatives the current situation that the starter of shipping finance among three countries in Northeast Asia, South Korea is facing China's challenges. In the paper, shipping finance in Korea presented its defectives such as the limits of ship financing, lack of professional workforces, ever-present foreign exchange risks, and lack of understandings of the parties. As the countermeasures of them, it proposed establishing professional institute for ship financing, training professionals in financial industry, raising foreign credentials of won, and continuing associations between the parties. Even though we are the first Asian country introduced ship funds, the ship funds growth in China shall be under our eyes while we keep systemic networks between shipping, ship building, and ship financing.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2022.06a
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• pp.225-226
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• 2022

해운·물류기업이 터미널 및 물류센터 등 물류인프라 구축, 해외시장 법인 설립 등을 위해 해외물류시장에 진출하기 위해서는 대규모 투자 등 금융지원이 필수적이며, 특히 중소·중견 물류기업의 경우 자금력 부족 등으로 해외진출에 어려움을 겪고 있다. 우리 중소물류기업의 해외시장 진출 확대 및 경쟁력 강화를 위해 해외진출을 위한 금융지원 방인이 필요하다. 이에 본 연구는 중소 물류기업의 해외진출 활성화를 목표로 해외진출 금융지원에 대한 수요조사를 통해 적합한 방안 마련 및 정책 방향을 제시하였다.

• Journal of Korea Port Economic Association
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• v.29 no.2
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• pp.137-157
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• 2013

Korean shipping industry is ranked the fifth largest in the world in terms of deadweight tonnage after Greece, Japan, Germany and China with 55 million DWT as of year 2011, and its size of foreign exchange earning marked 30 billion US dollars. In respect of volume of seaborne trade, it has handled 99% of import and export cargoes. Korean shipping fleets have increased from 420 to 979 ships between year 2003 to year 2011. By reviewing through the relating literatures, it has been found that Shipping Funds under Ship Investment Company Act, and Tonnnage Tax System, worked as positive influences to increase the Korean shipping fleets. However, there is scant of research to examine the following two points: 1) weighing the decision making factors of ship investments for Korean shipping companies, and 2) weighing the influential factors of government shipping policies. In this respect, the aim of this study is to evaluate 8 decision making factors of ship investments for Korean shipping companies, and 8 influential factors of government shipping policies. For weighing the factors, the fuzzy methodology was adopted. As the results, for the side of decision making factors of ship investments, 'shipping market conditions and future prospects', 'ship's price and future prospects, and 'securing cargoes and future prospects' are ranked as top 3 factors. For government shipping policies side, 'shipping finance provided by lease companies', 'establishment of Korea Shipping Guarantee Fund', and 'establishment of Korea Shipping Finance Corporation' are verified as the important factors.

• Proceedings of the Korean Society of Computer Information Conference
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• 2023.07a
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• pp.711-712
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• 2023

중국 동북3성은 지리적, 경제적, 문화적으로 상당히 중요한 지역이지만 대부분의 교류가 해상으로 이뤄지고 있어서 지속가능성을 고려할 때 노후 카페리의 현대화 추진이 필요한 실정이다. 따라서 본 연구는 현재 운항중인 카페리선박과 운영항로를 분석하고 신조 대체에 필요한 재원규모을 파악하였다. 실질적인 선박금융펀드 조정에는 한국과 중국간의 선박금융과 조선산업의 경쟁력을 기반으로 공동운영을 제언하고자 한다.

• Journal of Korea Port Economic Association
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• v.35 no.2
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• pp.1-20
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• 2019

This study aims to establish a method for activating Korean ship finance through an analysis on the development of Chinese ship finance market, which has grown rapidly in recent years. It focuses on its main institutions, laws and policies, strengths and weaknesses, market share, and development status. Because 80.7% of South Korea's economy depends upon foreign trade and 99.7% of the South Korea's traded volume is transported by ships, shipping has assumed an important role in Korean economy. However, since the global financial crisis, Korean shipping and shipbuilding industry has been facing difficulties and Hanjin, the biggest Korean shipping company, went bankrupt in 2017. One of the key aspects of the competitiveness of the shipping and shipbuilding industry is acquiring competitive shipping assets; therefore, stable and smooth supply of ship finance is crucial for the development of the shipping and shipbuilding industry. Given this background, the study analyzed how the Chinese ship finance market has grown rapidly in the past 30 years and identified the problems, strengths, and weaknesses of the Chinese ship finance. The analysis on the status of the Chinese ship finance market is expected to suggest a direction for establishing methods for activating the Korean ship finance market, which is facing scarcity of finance, even as the global ship finance market has remained depressed since the global financial crisis. Although this study focused exclusively on the Chinese market, future research can draw conclusions from a comparative analysis that includes the Japanese ship finance market; the conclusions obtained would contribute to the establishment of long-term policies and plans for Korean ship finance.

• Journal of the Korean Society of Marine Environment & Safety
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• v.26 no.1
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• pp.57-64
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• 2020

The IOPC Fund general assembly reported that the International Convention on Liability and Compensation for Damage in Connection with the Carriage of Hazardous and Noxious Substances by Sea (known as the HNS Convention) will meet the requirement for the convention to take ef ect between 2021 and 2022. When the convention comes into effect, the liability-limit insurance of the HNS transport ship will be enforced and the shipper receiving the HNS will pay the share of the contribution from the International Fund for damages exceeding the limit of the ship's liability insurance. Korea is one of the major shipping and shipper countries in the world; thus, this study aimed to the need to analyze the effect of the convention on the related industries. The survey of ships and contribution targets analyzed the research data of the Ministry of Oceans and Fisheries. The P&I premium estimation was reviewed by the Korea Shipping Association and the K P&I as insured ships. In addition, the contribution of the HNS cargo volume was analyzed in an annual report by a representative international association for each cargo. About 1,500 ocean-going and domestic vessels have been identified as ships subject to the convention. The effect of changes in premiums under the convention was minimal for most ships. The effect of the shipping industry is expected, with about 150 domestic tankers expected to increase insurance premiums. In the case of shipper industries, 52 freight terminals were found to be eligible for the payment of the share of the international fund, as the proportion of freight volume in Korea was ranked second to fourth in the world by individual HNS accounts. This implies the obligation to pay contributions according to the convention. Considering the status of HNS transport ships entering and leaving ports and the quantity of HNS cargo, it can be concluded that the validity of Korea's convention is sufficient and that, it is necessary to coordinate with global major shipper countries.