• The Journal of Fisheries Business Administration
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• v.35 no.1
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• pp.169-191
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• 2004

This Study attempts to analysis the degrees of the efficiency of fisheries marketing channel's effectiveness, which are traditional marketing channel's effectiveness of fisheries wholesale markets and Discount Store's effectiveness such as margin, marketing performance. The study methodologies include not only a field sample survey but also a field interview. The results of this study are summarized as follows. First, at the numbers of fisheries marketing channel's margin factors, traditional marketing channel's margin factors are more than discount store's margin factors. Secondly, at the comparative study result of marketing channel margin efficiency, traditional marketing channel's prices are similar to discount store's prices. That is, consumers have bought similar retail price's seafood products through traditional marketing channels as well as discount stores cannels. Finally, however most consumers prefer discount stores to traditional retail stores because of discount store's multi-functions such as assortment of goods, freshness, exchange, refund and employee's kindness. In conclusion, the most important factor of fisheries marketing management is to realize the appropriate balance between marketing margin and consumer satisfaction.

• The Journal of Fisheries Business Administration
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• v.51 no.4
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• pp.69-83
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• 2020

The purpose of this paper is to empirically investigate whether asymmetric price transmission exists in the distribution stage of farmed olive flounder market. For the analysis, time series data were used for the producer prices of Jeju and Wando, and the wholesale prices of Incheon, Hanam and Busan. Through the Granger causality test, the causal relationship from the producer price to the wholesale price was derived and the asymmetric price transmission was analyzed using the autoregressive distributed lag model (ARDL). As a result of the analysis, it was found that there is a phenomenon of 'positive asymmetric price transmission' from the producer price to the wholesale price. This result can be one evidence that excess profits are received in the intermediate distribution stage, and can be said to be a result showing the incompleteness and inefficiency of the distribution structure of the farmed olive flounder. In the future, it is required to establish an information-sharing system in all stages of production, distribution, and consumption that can create a competitive environment for distribution participants and resolve information asymmetry. Also, it is necessary to review the distribution center specializing in live fish from the viewpoint of the establishment of new distribution channels and sales diversification strategy under the rapidly changing fisheries environment.

• The Journal of Fisheries Business Administration
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• v.46 no.1
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• pp.93-107
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• 2015

This study aims to analyze causalities among Hairtail prices by distribution channel using a vector autoregressive model. This study applies unit-root test for stability of data, uses Granger causality test to know interaction among Hairtail Prices by distribution channel, and employes the vector autoregressive model to estimate statistical impacts among t-2 period variables used in model. Analyzing results of this study are as follows. First, ADF, PP, and KPSS tests show that the change rate of Hairtail price by distribution channel differentiated by logarithm is stable. Second, a Granger causality test presents that the producer price of Hairtail leads the wholesale price and then the wholesale price leads the consumer price. Third, the vector autoregressive model suggests that the change rate of Hairtail producer price of t-2 period variables statistically, significantly impacts change rates of own, wholesale, and consumer prices at current period. Fourth, the impulse response analysis indicates that impulse responses of the structural shocks with a respectively distribution channel of the Hairtail prices are relatively more powerful in own distribution channel than in other distribution channels. Fifth, a forecast error variance decomposition of the Hairtail prices points out that the own price has relatively more powerful influence than other prices.

• Journal of Fisheries and Marine Sciences Education
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• v.16 no.1
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• pp.84-98
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• 2004

Due to a publicly owned resources, the overexploitation of the fisheries resources can result in externalities in the form of reduced future levels of yield. These problems can be theoretically improved through effective management of the fishery. The paper illustrates maximum sustainable yield(MSY), maximum economic yield(MEY) and F0.1 level of fishing mortality as the concept of optimal yield, and it theoretically shows that MSY is more appropriate for the optimal yield than MEY where prices increase even though MEY achieves the maximization of economic rent in a fishery assuming constant prices. And the paper presents several fisheries management tools and policies such as input controls, output controls and taxes. As the traditional approach to fishery management, input controls involve restrictions on the physical inputs into the production process(e.g. capital, time or technology) and output controls involve limits on the quantity of fish that can be landed. To introduce user cost into the harvest decisions of rent-seeking fishers, taxation, as a bioeconomic management policy of the fisheries, directly addresses the problems associated with the resource being unpriced. As most fisheries management plans, however, have increasing fisher income as an objective, taxes have not been introduced into any fisheries management policies despite their theoretical attraction.

• The Journal of Fisheries Business Administration
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• v.43 no.1
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• pp.49-61
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• 2012

The tax exemption oil for fishery is expecting that the use of oil is gradually decreasing according to the environmental change such as reductions of vessel force caused by an upswing of oil prices and reduction of fishing vessels in the recent. Such reductions in the tax exemption oil amount have a negative effect on the tax exemption oil business and the fishery infrastructure. This paper studied to provide the basic data for a stable supply thorough the facts affected in the use of the tax exemption oil and the prediction for the use of the tax exemption oil in future. This analysis drew a estimation method by Cochrane-Orcutt repeated proceeding model with an object main factors such as a price of tax exemption oil and vessel force and international oil prices and exchange rates. And this analysis also drew the use of a tax exemption oil by 2000 after set up the scenario using an estimation method drawn. For the use of the estimated tax exemption oil analyzed to decrease within about 81 percent of the present(2020), It should be considering a stability plan for tax exemption oil for fishery in future.

• The Journal of Fisheries Business Administration
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• v.47 no.1
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• pp.1-20
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• 2016

The purpose of this study is to assess the effects of outlook project for olive flounder, from the view point of price stabilization, market efficiency, and causality of the prices in different distribution channels. Analytical results show that the volatility of producer price of olive flounder has been significantly mitigated after the implementation of the outlook project. The market efficiency is estimated to be improved after implementing the outlook project although there is an inefficiency on price determination process in some producing regions. The causality test on the producer and wholesale price shows that producing stage leads the wholesale stage in forming the prices. It is found that Jeju leads the flounder price on the size of 500g and 2kg, while Wando leads the price of 1kg size. These estimation result as whole indicate that outlook project for olive flounder has accomplished the intended goals.

• The Journal of Fisheries Business Administration
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• v.29 no.2
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• pp.199-216
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• 1998

An economic appraisal of a proposed marine ranching project is analysed using capital budgeting model such as net present value(NPV) and internal rate of return( IRR) as well as sensitivity analysis and goal seeking model. Of the factors for economic appraisal, direct benefits are to be determined by estimated harvest, prices and costs incurred by catching fishes, and indirect benefits include the additional economic effect of recreational fishing. And judging the worth of these project options depends upon the choice of discount rate of which 8.5% is recommended here. On the basis of estimated production, prices and costs the project is expected to yield NPV=615 million won and IRR=8.8%, which is quite accepted for an economic feasibility, under the first scenario, and NPV= -127 million won and IRR=7.93%, which is rejected, under the second scenario. Sensitivity analysis has been performed by calculating the switching value and sensitivity indicator in respect of the main project parameters. The results suggest that the project NPV and IRR are especially sensitive to fishes(rock fish and other rock fish) prices and fixed costs. Finally goal seeking analysis is carried out in order to reach a desired level of performance like NPV=0 in respect of the amount of hatchery-reared juverniles, the prices and the discount rate.

• The Journal of Fisheries Business Administration
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• v.49 no.2
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• pp.37-48
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• 2018

This study analyzed the impact of FTA tariff elimination on the export prices for Norwegian fresh and chilled salmon, of which Korean import has significantly increased since the Korea-EFTA FTA implementation. Korea's fresh and chilled salmon market is almost monopolized by Norway, and Korea's price level is higher than other countries, so it is highly likely that price discrimination occurs. This study theoretically explained that exporters could adjust their prices by market power when tariffs are eliminated in imperfectly competitive markets. And the empirical analysis provided evidence that the exporters have made price adjustments since the FTA took effect, and similar results were found in the relative price comparison with trade statistics and Nasdaq Salmon Index. Therefore, in order to increase consumer welfare in Korean salmon market, it is required to transform the monopolistic market structure into a competitive one.

• The Journal of Fisheries Business Administration
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• v.35 no.2
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• pp.91-115
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• 2004

The main purpose of this study is to analyze the cooperative squid fisheries problems surrounding the $E128^{\circ}$, established by the 1965 Korea - Japan Fisheries Agreement which banned Korean large trawlers' fishing east to the $E128^{\circ}$ In fact, the moratorium was put on by Japans request. However, such issue did not occur until the filefish stock in the southern Korean sea, which was a major target fish species of the large trawl fisheries, The filefish stock collapsed completely around 1991 and at the same time most of bottom fish stocks in the East China Sea began to show a symptom of over - exploitation. Thus, the off - shore large trawlers learned to have a little opportunity of finding out alternative fish stocks as well as fishing grounds. Fortunately, at that time squid resource stock and consumption were on the increasing trend. The large trawl fisheries were able to economically exploit squid stock east to the $E128^{\circ}$ through cooperative fishing with squid angling light boats in the East and East - South Sea, even though such cooperative fishing activities violate the existing fishery laws apparently. Some important reasons that the large trawlers have continued the cooperative fishing seem to be because (ⅰ) squid resource stock has been on the increasing state over time, (ⅱ) the trawl fisheries have made a significant contribution to meeting domestic and export demands and stabilizing squid prices, and (ⅲ) they have kept domestic squid market from foreign competition. However, the new Korea - Japan fisheries agreement in 1998 provided a momentum of questioning the effectiveness of the $E128^{\circ}$ by the squid - related fisheries other than the squid angling. Serious conflicts between squid - related fisheries began to emerge and to be much intensified. Squid angling industries in the East opposed to large trawlers's efforts to formalize such illegal cooperative squid fishing activities. Their main argument was that such formalizing would definitely make the East coast squid prices lower and in turn their business performance would be worse off. The results of quantitative analysis suggest that the trawlers' massive landing may have a significant influence on lowering the east coast squid prices. Now, an important issue that the squid - related fisheries and the government are facing is to solve such complex squid fishing problems through a multi - participatory negotiation process, including price stabilization, total allowable catch level and its operation schemes, $E128^{\circ}$ rearrangement, and so on.

• The Journal of Fisheries Business Administration
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• v.52 no.2
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• pp.1-31
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• 2021

This study is to evaluate the prior economic feasibility of the off-shore fisheries stock enhancement project. The main findings of this study can be summarized as follows: first, offshore fisheries stock enhancement project shall be implemented by dividing them into 1st·2nd·3rd projects for efficient promotion. The 1st·2nd·3rd projects will be conducted in a total of 50 locations (the eastern sea, the western sea, the southern sea, and the jeju sea areas), and the project period per unit will be five years, which will cost 1 trillion won. Second, according to the results of the survey on public awareness, the most consumed marine species in Korea over the past year were analyzed in the order of mackerel, hairtail, squid, yellow corvina, blue crab, and cod. The dominant response to the reason for consuming marine products in Korea was healthy well-being food and safe food. In addition, 67.9% of them have hesitated to purchase offshore fish species over the past year due to high prices, indicating that they are burdened by high prices. On the other hand, 79% of the respondents said that the government's policy was insufficient, according to a survey on whether the government's coastal marine resource creation policy was sufficient. Third, as a result of preliminary economic analysis of offshore fisheries stock enhancement project, the benefit-cost ratio is 4.01, net present price is 1,283.7 billion won, and internal rate of return is 91.7% per year, which means that the economic analysis ensures the feasibility of the projects. The results of this study provide useful information on securing or organizing budgets for offshore fisheries stock enhancement project by securing economic feasibility as a national infrastructure project that increases fishery income and public benefits such as consumption of marine products.