• Journal of Korea Port Economic Association
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• v.29 no.2
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• pp.19-38
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• 2013

This paper explores the relationship between shipping firm's investment and debt-ratio characteristics. Using a panel of 41 shipping firms from 2006 to 2011, this study finds evidence that debt/asset ratio and leverage are negatively associated with firm's investment activities. This relationship shows that volume of debt and capital structure are critical decision factor on firm's investment and capital financing. In terms of financial expenses to sales, positive relationship is existed with firm's investment finding that financing cost is important to investment. The previous study of the firm's investment in other sector also shows a negative relationship with debit ratio. This study is also interested in the extent to which the firm's investment is affected by firm size because there is general agreement that smaller firms have less access to external capital markets. As results, smaller companies group have more positive relationship with factors related to financing cost such as financial expenses to sales and tax. On the other hand, bigger companies group shows the evidence that firm investment is positive relationship with asset size. The analysis corresponding to economic fluctuation shows that debit ratio is more sensitive to firm's investment during a recession. On the other hand, financial expenses to sales is more related to firm's investment during an economic boom.

• Journal of Korea Port Economic Association
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• v.28 no.1
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• pp.1-23
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• 2012

Advances in information technology has brought many benefits to businesses, but at the same time, businesses are facing serious problems caused by its use such as information leakage. In order to cope with problems, companies have established information security policies, demanding workers of a company to be compliant with the policies. This study proposes a research model that includes information security awareness, information security attitude, self-efficacy, standard belief and social influences as factors that affect the compliance of information security policy among the workers of shipping and port organization. The results of this study showed that there was a positive relationship not only between the information security awareness and the information security attitude, but also between the information security attitude and the information security policy among the workers of shipping and port organization. It was also found that there was a positive relationship between the self-efficacy and the compliance of information security policy, and between the social influence and the compliance of information security policy. However, there was no meaningful relationship between the standard belief and the compliance of information security policy. This study examined to what extent the workers of shipping and port organization that have a high possibility of the information leakage were compliant with the information security policy. The findings will contribute to organizations of shipping and port who attempt to establish strategies related to information security.

• Journal of Korea Port Economic Association
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• v.39 no.4
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• pp.163-190
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• 2023

Recently, a framework crystallizing as Environmental, Social, and Governance(ESG) has been exerting significant influence not only on corporate investment and management philosophies but also on national policies. This ESG framework is becoming an essential requirement for all organizations. It has become an obligation at the corporate and national levels, particularly in the maritime, port, and logistics sectors. Anticipating that the adoption and utilization of the ESG framework will reach higher levels when it becomes a necessity, this study utilized data from international organizations such as the United Nations Conference on Trade and Development(UNCTAD), the World Bank, and the World Economic Forum to analyze the impact of the ESG framework on national economic performance through the maritime, port, and logistics sectors using Partial Least Squares Structural Equation Modeling(PLS-SEM). The analysis revealed that while the ESG framework did not have a direct impact on the national economy, it manifested substantial indirect effects through maritime, port, and logistics sectors. Therefore, in these sectors, the establishment of the ESG framework should be recognized not only as an expenditure and obligation but also as a crucial investment that positively influences the national economic performance. The study's findings are limited by the absence of data beyond 2019 due to the impact of COVID-19. Therefore, it is anticipated that more accurate current effects can be ascertained when newer data becomes available.

• Journal of Korea Port Economic Association
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• v.34 no.4
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• pp.17-38
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• 2018

The purpose of this study is to establish shipping companies' selection factors related to a classification society and to explore the relative importance of each factor using the analytical hierarchy process(AHP) technique. Insufficient research exists on the hierarchial structure of shipping companies' factors of selecting a classification society. The factors are identified and classified into two tiers of major and detailed factors, by referring to the related industrial linkages, prior research related to the determinants, and the process and service delivery of the classification society's activities. The empirical analysis of this study is based on the relative importance of determinants when selecting a classification society, and experts engaged with shipping companies were surveyed using questionnaires. The results of the AHP methodology on the main factors of shipping companies in selecting a classification society are as follows. The relative importance of the main factors was 0.373 for technical and survey services, 0.284 for recognized organizations(RO) functions, 0.177 for cost and 0.167 for market(related industry) expectations. The relative importance of the detailed factors is 0.144 for the ability to respond to a port state control(PSC) inspection, 0.143 for technical services, 0.090 for the requirements of financial institutions/ shippers/shipyards, 0.087 for class maintenance costs, 0.086 for the survey network, 0.085 for surveyor competency, 0.072 for cooperation with IMO and government authorities, 0.067 for recognition for RO, 0.058 for the business power of the classification society, 0.052 for the initial inspection costs, 0.040 for reputation and trustworthiness, 0.038 for the costs related to the class, and 0.037 for connections to related industries.

• Journal of Navigation and Port Research
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• v.44 no.3
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• pp.244-252
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• 2020

The 2008 global financial crisis was triggered by the Lehman Brothers crisis caused by the sub-prime mortgage crisis in the United States This crisis has had an impact on the globe's dry bulk shipping market by reducing dry bulk cargo volume. An oversupply of dry bulk carriers caused a serious recession in the globe's dry-bulk shipping industry and shipbuilding industry. In this situation, the Korean dry-bulk shipping companies were victims of the quagmire of a long recession since the global financial crisis and could not overcome this crisis. This condition forced them into severe financial risk Thus, it caused many shipping companies to file for bankruptcy. In this study, we classified Korean ocean-going dry-bulk shipping companies into two groups, that is, the solvent group and the insolvent group. We also separated the research period before and after the 2008 global financial crisis. Then we investigated the differences in the major financial ratios of the two groups by t-test and found that some financial ratios such as profitability ratios and growth ratios showed the difference between the two groups with statistical significance. The significance of this study is as follow. First, the shipping company management is also crucial for the systematic management of financial strength and business strategy, it is crucial to manage cargo which a high profitable freight. Second, the shipping company should be managed as a company with continued growth through efficient operation and management of ships.

• Journal of Korea Port Economic Association
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• v.28 no.4
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• pp.121-147
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• 2012

The quick spread of smartphones has affected not only individual life but also the way companies conduct their businesses. Employees is their business work using a variety of mobile devices including smartphones and are in constant collaboration with one another by sharing corporate information. Accordingly, constant an increasing number of businesses have adopted mobile applications for work, especially in the field of maritime logistics, where maritime logistics mobile applications are utilized to track cargos and to provide visibility. Through surveys, this study did empirical analyses to find out the intention to use maritime logistics mobile applications of maritime logistics workers, and the find out factors affecting their actual use of mobile applications developed and used in the domestic maritime logistics industry. As for study variables, social influence, innovation, perceived value, and collaboration between companies were used as factors that affect the intention to use mobile applications. In addition, as a tool for measuring the actual use of mobile applications, which is necessary for figuring out the relationship between the intention to use them and their actual use, the connecting frequency and using time were used. A total of 168 surveys were used in the hypothesis test. The results of the analyses are as follow: First, the three variables of social influence, innovation, and perceived value positively affected the intention to use maritime logistics mobile applications. However, collaboration between companies did not affect the intention to use the applications. Second, the intention to use the mobile applications positively affected the actual use.

• Journal of Korea Port Economic Association
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• v.25 no.3
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• pp.339-360
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• 2009

In recent years, the quality and safety requirements in the shipping industries have been more stringent than the previous requirements. It is essential to effective quality management system which can cope with a change in shipping business environment and improve shipping service performance to get competitiveness in the international shipping market. This study on the focus of the Korean shipping company which provides shipping transportation service examined following issues. First, how each of the key factors of ISO 9001 quality management affects service performance, internal customer satisfaction and customer orientation. Second, how the internal customer satisfaction affects service performance and customer orientation. Third, customer orientation affects service performance.

• Journal of Korea Port Economic Association
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• v.25 no.1
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• pp.223-248
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• 2009

The purpose of this empirical study is to examine and explore the relationships between three variables; shipping companies' service quality, customer satisfaction and customer loyalty. Special features of this study could be summarized as following. First, this is empirical study based on market research according to the definition of 'customer' as freight forwarders and actual exporter/importer together contrary to previous studies. Second, to evaluate shipping companies' service quality, 5 components of SERVPERF model was used. Third, to test correlations between 3 variables; service quality, customer satisfactions and customer loyalty, statistical analysis was used with tools of SPSSWIN ver 15.0 and AMOS ver 7.0. For effective study, many thesis have been obtained through literature survey. However, major results were compiled from directly structured questionnaire, which were collected from Korean import/ export companies and freight forwarders.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2018.11a
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• pp.207-209
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• 2018

우리 정부는 해외진출 기업의 국제 경쟁력 강화 및 해운 물류기업의 해외진출 지원 강화 등을 통한 글로벌 물류강국 실현을 목표로 하고 있다. 이러한 정책목표 실현을 위해서는 젊고 유능한 청년 국제물류 인력양성과 함께 그들의 해외진출 정주지원사업 추진의 필요성이 높다. 본 연구는 국내 청년 물류인력의 해외진출 지원을 위한 기업과 청년들의 인식 조사 분석 및 K-MOVE 사업의 고도화 및 확대 방안으로서 베트남을 대상으로 한 정주지원사업을 구상하였다.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2018.05a
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• pp.129-130
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• 2018

In shipping logistics, despite the fact that it has promoted the information processing process, the use of the document exchange mechanism has caused a problem of increasing the cost and lead time. In recent years, various types of projects are in progress in preparation for full-scale introduction of a blockchain technology capable of solving the document exchange mechanism in the shipping industry, In near future, by expanding the practical application scope, it is aiming to increase competitiveness through transparency, reliability, stability, and efficiency, which are the effects of application of the block chain technology.