• Asia-Pacific Journal of Business
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• v.12 no.1
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• pp.135-149
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• 2021

Purpose - I analyzes risk-to-performance evaluated in the market using data from sale and lease back. Specifically, I analyze from the perspective of financial institutions that purchase sale and lease back based on the cases of investment by ship investment companies and acquisition of ships. Design/methodology/approach - I use 49 sale and lease back data from 2017 to 2019 for empirical analysis. Findings - The main results of this paper are as follows. First, after sale and lease back of domestic ships, the average amount of sales by the leased shipping company is 25.1 billion won, the average amount of investment by the purchased financial institution is 14.6 billion won (60%) and the average length of the ship is nine years. In ship finance, sale and lease back is deemed to be appropriately used as a means of restructuring for a large amount of money. Second, the main risk factor for sale and lease back of domestic ships is credit risk and can be measured in VaR in practice. As a result of the empirical analysis, the average credit risk burden ratio is 9%. As a major risk factor, low creditworthiness of restructuring companies is the key. Third, as a result of measuring the profitability of financial institutions that purchase sale and lease back of domestic ships at a net current price, it has an average value of 300 million won, but the deviation by case is very large. Fourth, the risk adjusted performance of sale and lease back of domestic ships is 0.54 on average compared to the total risk capital, and 0.52 compared to the stock-risk capital, and as with profitability earlier, the deviation of each case is very large and misaligned. In order to boost the sale and lease back market for large and long-term assets, in order to overcome low profitability as a prerequisite for future participation of commercial purchased financial institutions, it is expected that purchase decisions based on expectations versus risk will be necessary. Research implications or Originality - The results of this paper are expected to broaden the understanding of sale and lease back and foster the ability to assess long-term risk and performance. Based on this, it is believed that rapid restructuring of companies through sale and lease back of large amounts of long-term assets will greatly increase the utility of the domestic financial market.

• Journal of Korean Port Research
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• v.11 no.2
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• pp.321-337
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• 1997

Rapid change in the technological environment of marine transportation and the development of the ocean shipping industry have fostered a revolution in the port system. This in turn has caused major changes in the function and use of port in Korea. Aside from this. Mokpo Port, however continues to decline, because the existing port facilities and related subsystem are already obsolete with no chance of regaining operational effectiveness and treatment for proper implementation. Although a few studies have been done on the Mokpo Port, has not been found, any reseach for the analytical approach to the transportation system of it. This paper aims to make an extensive analysis of the physical distribution system in Mokpo Port focusing on the coordination of subsystems such as navigational aids system, quay handling and transfer system, storage system and inland transport system. The base of introduced simulation tool here is the queueing theory. The overall findings are as follows; 1. Among those vessels called at Mokpo Port in 1994, the average size of oceangoing vessels is 4,922.1 G/T, and the domestic is 317.8 G/T. The average arrival interval and service time of the domestic vessels are 6.0 hours and 24.1 hours respectively marking the berth occupation rate over 100%. Those for oceangoing vessels are 34.5 hours, 120.0 hours and 37.2%. In order to maintainin the berth occupation rate to 70% the capacity considering the 1994 of domestic piers must be extended to 145% and oceangoing vessels must be increased to 165% year called. 2. The capacity of approaching channel is enough to handle the total traffic volume. 3. Tugs are sufficiently being provided to handle all ships requiring their services 4. The capacity of storage and inland transportation systems are sufficient to handle the throughput and the yard stroage utilization rate of No.1 $\cdots$ No.5 is 4.5% and No.6 1S 30% of 1993's. 5. The utilization rate of LLc(Level Looping Crane) and PNT(PNeumaTic) are 2.7% and 18.8%, respectively. Practical solution and proposal for improvement of Transportation System in Mokpo Port are as follows; 1. To avoid the congestion in domestic pier introduction of a new port operation system is necessary allowing the domestic vessel to use the oceangoing pier. 2. To establish the port management information system to improve the efficiency of port operation. 3. To build a new storage system for high valued cargos including modernization of the present storage and handling system. 4. To insure the safety of navigation in approaching channel, The Vessel Traffic System including separation scheme is introduced. 5. To interest enormously on public relation to ship owner's association, shippers and consignees by showing that they can save cost and ship turnaround time in order to promote the call to Mokpo Port. At last, to be strategically change the function of Mokpo Port to the Leisure, Fishing & Ferry as well as Maritime port.

• Proceedings of KOSOMES biannual meeting
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• 2006.11a
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• pp.47-51
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• 2006

The variation of marine accidents and ship's insurances is to be the measurement of assessment concerned effect of importing ISM Code because each kind of ship accident's expenses and compensation for the loss have an effect on the ship's insurance and P&I insurance. Therefore in this study, we had grasped the accomplishment of importing ISM Code, using analysis of the variation of marine accidents and ship's insurances in domestic shipping companies from one year ago to 8 years after importing ISM Code. As the result of analysis, compared with the period of a year before carrying out ISM Code, marine accidents were showed a decrease of about 14.4% at 8th year of importing ISM Code. Also, the insurance had tended downward every year.

• Journal of Advanced Marine Engineering and Technology
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• v.39 no.9
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• pp.981-986
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• 2015

As the seriousness of global environment pollution is gaining increasing public attention, research into greenhouse gas emissions of ships is being carried out globally. At a domestic level, however, in a number of significant fields such research has not been conducted to date. This study examined countermeasures for the reduction of $CO_2$ emission in the fields of electronic control engines, trim optimization, propeller polishing, hull cleaning, and anti-fouling paint using an actual sea-going vessel. Selected countermeasures were applied during sea trials of the ship and the effect of specific fuel oil consumption analyzed. It was found that each countermeasure resulted in a decrease of fuel consumption of 1~5%. The energy efficiency operational indicator (EEOI) was calculated and found to also be improved by 1~5%. Further research into the EEOI of domestic shipping is planned to enhance conformance with international environmental regulations and improve global competitiveness.

• Journal of Distribution Research
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• v.4 no.3
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• pp.1-22
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• 2000

Many foreign freight forwarders make inroads into domestic markets. Korean freight forwarders are not competitive on th domestic logistics area because of higher customer services by foreign freight forwarders in Korea. The purpose of this research is to analyze degree of satisfaction on customer services attributes of freight forwarders in Korea, and to strengthen the competitiveness of customer services by Korea freight forwarders in contrast to foreign investment freight forwarders in Korea. The results of the research could be summarized as follows.: When freight forwarders are selected, the most important customer service attributes have been ranked in order with 'the accuracy management of shipping order' , the reasonable offers of freight rate' and 'the quick arrangement of vessels' when freight forwarders are selected.

• Journal of the Korean Society of Marine Environment & Safety
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• v.16 no.1
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• pp.65-69
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• 2010

The variations of marine accidents and ship's insurences are measures for assessing the effects of ISM Code implementation, bemuse expenses for the treatment of ship accidents and compensations for the loss have an effect on the ship's insurence. In order to understand the results and accmplishements of ISM Code implementation in Korea, the rise and the fall of marine accidents and ship's insurences were analyzed and examined in domestic shipping companies from one year before implementation to eight years after implementation of ISM Code. As the result of analysis, compared with the period of a year before implementation of ISM Code, the decrease of about 14.4% in marine accidents was shown in the 8th year after ISM Code implementation in Korea, and ship's insurance rates tended to decrease from year to year.

• Journal of Korea Port Economic Association
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• v.39 no.3
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• pp.21-32
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• 2023

The domestic automobile industry is growing due to favourable government policies and changing technological innovations. As the automobile industry becomes more active, the role of dedicated docks facilitating automobile exports is also becoming prominent which can be identified as a sector still requiring comprehensive research. Accordingly, a case analysis of domestic automobile port productivity was conducted using empirical data collected from Korean automobile ports to compare and analyze their productivity and to present implications based on the findings. In the case of productivity analysis, facility, labor, working time, and cost productivity were calculated from (the beginning of) 2021 to the second quarter of 2022. The results of the analysis revealed the port D to achieve the highest productivity during the study period, followed by the ports B, C, and A, respectively. Based on the current situation of each automobile dock revealed through the results, strategies for future development is derived.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2012.05a
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• pp.846-847
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• 2012

The domestic courier market, large and small companies working in more than 100 leading logistics service market is fully open. Year since 2001 has increased by 10%. 1.3 billion per year in 2011 saying the shipping box, and the market size is about 3 trillion won. Courier in 2012 with the growth of online shopping is expected to develop the industry further. However, these courier industry in appearance, but the consumer's personal growth and exposure, exploiting the fears of crime is high. In this paper, using DRM (Digital Rights Management) delivery method to implement information security system is proposed.

• Korean Journal of Computational Design and Engineering
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• v.16 no.4
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• pp.260-267
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• 2011

Nowadays, automobile manufacturers are faced with increasing global competition which is required low cost as well as high quality. To reduce shipping and handling cost and delivery time, lots of automobile manufactures tried to build their new factory in the neighborhood of market. Simultaneously, many factories are under construction in developing countries to make efficient use of low-wage workers. However, because systems are installed in developing countries as the same type of domestic facilities, systems have lots of problems such as high installation cost and inefficient use of manpower. To find core problems and generate optimal solution of these problems, thinking process of TOC(Theory Of Constrains) is used. In case of transmission gear machining system, semi-auto system is proposed as the best solution to increase manpower efficiency and system utilization. Semi-auto system consists of automatic machining process and manual transporting process. The system layout is generated based on semi-auto process concept. And, 3D simulation method using QUEST is used to verify production volume of generated system.

• Journal of Ocean Engineering and Technology
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• v.33 no.6
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• pp.495-503
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• 2019

Approximately 90,000 ships are registered in South Korea, and about 80,000 of these ships are used in domestic shipping. Among these, 84% are small ships, such as a fishing vessels that weigh less than 20 tons and are made mostly of an FRP (Fiber Reinforced Plastics). When this fact is taken into account, the greenhouse gas emissions that are released per ton of a composite vessel are sizeable. In this study, the laminated structures of an FRP fishing vessel, many of which currently are being built in Korea, were analyzed by ISO (International Organization for Standardization) and international design rules, and the structures of the hulls are lightweight with optimum glass fiber mass content as determined by the laminate weight minimization algorithm. As a result, it was confirmed that the laminations of the vessels in accordance with the Korean rule could have 6.4% to approximately 11% more design margin compared to the requirements of ISO and other international rules. And the case study of the application of the laminate weight minimization algorithm showed the possibility of reducing the weight of the hull bottom plating by as much as about 19.32% and by as much as about 18.06% in the overall structure.