• The Journal of Fisheries Business Administration
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• v.43 no.3
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• pp.75-87
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• 2012

Today, the Korean fisheries is undergoing significant hardships, both domestically and internationally. While declining amount of catch, ascending international oil prices and others pose a compelling challenge to the fishing sector, the ever strengthening influence of international institutions related to fisheries and international trade organizations also compel to bring about myriad of changes in the realm of fishery products. Against the backdrop, this study attempted to examine the fisheries catch, aquaculture, service, processing fields in terms of its rippling effect and of how the industry has been changed by analyzing the past and present through an input-output analysis. As for research methods, 168 items of the input-output tables in 2000, 2005, 2009, and 2010 were integrated to form and classify 32 sectors (28 basic sectors + catch, aquaculture, fishery service, processed fishery products) so as to generate production inducement coefficient, sensitivity coefficient, and impact coefficient. The analysis results revealed that : though the linkage effect of fishery industry was not very sizable, the impact coefficient of the processed fishery products was high; the consumption and investment coefficient sector among production inducement coefficient was on an upturn trend ; the export coefficient was tended to decline. In the future research, it is necessary to carry out a study based on the integration of detailed classification (404 sector) and a study and analysis of fishery industry by different regions through the inter-regional input-output tables. The fishery industry is one of the crucial industries in Korea. The fishery industry is not only important in its own right but also significant as it exerts influence over other industries. Therefore, it is required that there should be more investment and supports for the development of the fishery industry, and pay efforts to ensure that the investment and development could lead to mutual growth for both the fishery and other various industries.

• Korean Journal of Fisheries and Aquatic Sciences
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• v.55 no.5
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• pp.681-687
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• 2022

The government has implemented a policy to promote the use of extruded pellets in sustainable aquaculture by protecting fishery resources and managing the ocean environment. A survey on the production status and the cost of targeting olive flounder Paralichthys olivaceus culture farms in Jeju Island using extruded pellets was conducted. The survey results were used to examine the profitability and economic feasibility of the test farms, as well as the degree of increase in profitability and economic feasibility of the fish farms receiving government subsidies for employing extruded pellets. The economic feasibility was predicted through a sensitivity analysis of prices and production, which are the variable factors when of using the extruded pellets. Using the economic feasibility analysis, the average NPV (Net Present Value) and IRR (Internal Rate of Return) of sample farms were found to be KRW 5.8 billion and 8.9%, respectively. The result of the economic feasibility analysis of the government subsidy showed a maximum average of about 2.3 times higher NPV and a 3.8% increase in IRR in cases where government subsidies were received.

• The Journal of Fisheries Business Administration
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• v.37 no.1 s.70
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• pp.95-110
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• 2006

Japan's frozen shrimp future market is the only fisheries future commodity market in the world. This empirical study examines the lead and lag relationship between Japan frozen shrimp spot and future markets using the daily prices from August 1, 2002 to December 31, 2005. Frozen shrimp future contract is listed on Japan Kansai Commodities Exchange. Japan imports approximately 250,000 tons of frozen shrimp annually, of which just under 70,000 tons, nearly 30%, are black tiger shrimp. Approximately 90% of black tiger shrimp are caught in Indonesia, India, Thailand and Vietnam, and the two largest consumers of these shrimp are Japan and the U.S.A. Kansai Commodities Exchange adopts the India black tiger shrimp as standard future commodity. We use unit root test, Johansen cointegration test, Granger causality test, Vector autoregressive analysis and Impulse response analysis. However, considering the long - term relationships between the level variables of frozen shrimp spot and futures, we introduced Vector Error Correction Model. We find that the price change of frozen shrimp futures with next 1, 2, 3, 4, 5 month maturity have a strong predictive power to the change of frozen shrimp spot and the change of frozen shrimp spot also have a predictive power to the change of frozen shrimp with next 1, 2, 3 month maturity. But, the explanatory power of the frozen shrimp futures is relatively greater than that of frozen shrimp spot.

• The Journal of Fisheries Business Administration
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• v.46 no.3
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• pp.31-49
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• 2015

This study examines whether or not the South Korean major fishery product import markets; Frozen Pollock, Frozen Long Arm Octopus, and Frozen Hairtail are integrated. We are utilizing the Multivariate and Bivariate Johansen Co-integration test to see if the law of one price(LOP) holds in each market or not. The empirical results show that even though import prices from different countries affect each other in each South Korean major fishery product import market, there is no evidence of LOP in any fishery product import market, which means that none of the markets are integrated. Based on these results, we could expect that the three major fishery product import markets show monopolistic competition among import countries. we would also see whether or not any country plays the role of a price leader in any of the markets. Based on weak exogeneity test results, we might expect that the United States and Malaysia are price leaders in the South Korean Frozen Pollock Import Market and Frozen Long Arm Octopus Import Market, respectively; however, we need to study more on this in the future.

• Korean Journal of Fisheries and Aquatic Sciences
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• v.53 no.1
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• pp.57-66
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• 2020

The purpose of this study was to provide information about annual variations in catch size and changes in reproductive biology in the common octopus Octopus vulgaris, a commercially important species. Samples were collected from coastal waters off Gyeongnam, Korea, by coastal trap and coastal complex fishery from February to December 2018. Octopus vulgaris have been decreasing in this region since 2007 and catch prices have been increasing. The mantle length (ML) of O. vulgaris ranged from 1.2 to 21.2 cm and body weight ranged from 42.6 to 5,537 g. The sex ratio differed significantly from what was expected, at 0.45:0.55 (P<0.05). Mature females were found from February to December, except in October and November, and males occurred from February to December, except in October. The gonadosomatic index value was higher from May to September than in other months. The total number of eggs in fecund individuals ranged from 40,280 in 578.1 g of body weight to 138,994 in 1,666.5 g of body weight. The relationship between body weight and fecundity was F=76.486BW^1.0087 (r²=0.7897). At 50% group maturity, average weight was estimated to be 636.35 g, while it was 969.30 g at 75% maturity and 1736.55 g at 97.5% maturity. This study highlights changes in catch size and reproductive biology between 2007 and 2018. These results provide basic evidence that may be used to establish regulatory policy for O. vulgaris fisheries.

• Journal of Agricultural Extension & Community Development
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• v.22 no.4
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• pp.423-434
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• 2015

This paper predicts the onion's cultivation areas, yields per unit area, and wholesale prices during ship dates by using wholesale price data from the Korea Agro-Fisheries & Food Trade Corporation, the production data from the Statistics Korea, and the weather data from the Korea Meteorological Administration with an ARDL model. By analyzing the data of wholesale price, rural household income and rural total earnings, onion cultivation areas in 2015 are estimated to be 21,035, 17,774 and 20,557(ha). In addition, onion yields per unit area of South Jeolla Province, North Gyeongsang Province, South Gyeongsang Province, Jeju Island, and the whole country in 2015 are estimated to be 5,980, 6,493, 6,543, 6,614, 6,139 (kg/10a) respectively. By using onion production's predictive value found from onion's cultivation areas and yields per unit area in 2015, the onion's wholesale prices in June are estimated to be 780 won, 1,100 won, and 820 won for each model. Predicted monthly price after the onion's ship dates is analyzed to exceed 1,000 won after August.

• The Journal of Fisheries Business Administration
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• v.52 no.4
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• pp.29-43
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• 2021

This study investigated whether there is a correlation between the occurrence of hazardous substances such as vibrio, norovirus, radioactivity, shellfish posion, hepatitis A, etc. and media reports, and whether the occurrence of hazardous substances and media reports affect the production, distribution and consumption of aquatic products. The main research results are as follows. First, it can be seen that there is a difference in the relationship between the occurrence of hazardous substances and media reports according to hazardous substances. Second, it suggests seen that the occurrence of hazardous substances and media reports can have a negative effect on the production and the prices of aquatic products. Third, it was found that the occurrence and reporting of hazardous substances had different effects on the distribution margin of aquatic products due to the complexity and rigidity of the distribution structure. Fourth, consumers feel a threat to aquatic products safety and significantly reduce consumption when hazardous substances occur. There is a possibility that concerns about one item may lead to a decrease in consumption of domestic and imported aquatic products that are not related at all to the occurrence of hazardous substances. In conclusion, aquatic products are exposed to various hazardous substances such as vibrio, norovirus, radioactivity, shellfish posion, and hepatitis A. It was found that the occurrence of hazardous substances and its media reports could cause damage to the fishery sector.

• The Journal of Fisheries Business Administration
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• v.29 no.2
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• pp.111-141
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• 1998

Why are auctions so prevalent in fisheries fields\ulcorner One answer is, perhaps, that fisheries products have no standard value. The price of any catch of fish (at least of fish destined for the fresh fish market) depends on the demand and supply conditions at a specific moment of time, influenced by prospective market developments and prices must be remade for each transaction. There are various auction schemes including written-bid method in Korea. It is difficult to make decision the application of auction selling in market distribution. One reason is the absence of adequate data on which to base firm statements. There is very little precise information about the relative volume handled by auction scheme as compared with other sales schemes Because of the paucity reliable data, one must depend largely on qualitative in attempting to above this problem. This paper is designed to examine which auction scheme is more efficient as a economic tool by introducing the three auctions, as samples, utilized in Koheung peninsula. Koheung coast with abundant fisheries resource, locates on the Middle-South part in Korea and has three auction firm operating by fisheries cooperatives. fur selling of dry fish included sea weed, live fish and fresh fish respectively, As a result, 1 found that there are three interesting auction schemes as follow : 1. More than one winners are selected as buyers. The highest bidder can at first get fishes he wants to buy, second winner can get surplus fishes after the highest bidder employes one's privilege with the highest pay, and next winner would be a buyer if fishes would be left in sequence after being sold with higher price. Every fisherman can sell one' s fishes with equal unit price if he delivery it to the winner within one day. Therefore, all the vendors feel they are equal members of fisheries cooperation. 2. Written-bid pricing on the cover of handy book. It is easy to write and to erase the figure more than on the small black board, and is convenient also to keep in the pocket. 3. Auctioning on the fixed platform with fixed fish tank is a very fast auction scheme in spite of short displaying time. Auctioneer presides bidding at one place on the fixed platform, instead of moving, vendors should carry a container of live fishes in the fish tank into showing table in front of would-be buyers and auctioneer. Although the applicability of the auction system to a marketing problem depends in part on subjective considerations by those making decision, basically it is a matter of comparative economic efficiency. In general, if the scheme maximizes returns in relation to the effort expanded by both buyers and sellers, it will be utilized. If it does not, a more efficiency may take place over a period of time, but, even more important, those making decisions may become aware of the potentialities of new schemes. Therefore, in order to applicate the three interesting auction schemes introduced in this paper to other fisheries market, it is necessary not only to analyze many other auction schemes but also to compare the economic efficiency those schemes utilizing in other fisheries market.

• The Journal of Fisheries Business Administration
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• v.41 no.1
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• pp.73-91
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• 2010

The objective of this study is to examine the hedging effectiveness of shrimp futures market. Hedging effectiveness is measured by OLS model based on rolling windows. Analysis data are obtained from Kansai Commodities Exchange in Osaka and are weekly data of frozen shrimp futures and cash prices in the time period from July 9, 2003, to May 9, 2007. The empirical results are summarized as follows:First, the correlation coefficients between the nearby futures price changes and the cash(16/20) price changes are very low and have range from 0.141 to 0.208 values. Second, the minimum variance hedge ratios($\hat{\beta}$) are all statistically different from 0 at the 5% level and range from 0.0477 to 0.5039 values excluding Indian shrimps(26/30). Ex post hedging effectiveness, as measured by the coefficient of determination, $R^2$, is relatively very low and range from a low of 0.4% for west-south Indian shrimps(26/30) to a high 4.3% for Vietnamese shrimps(16/20). Third, ex ante hedging effectiveness, as measured by out-of-sample hedging period, is also very low and range from a low of -4.4% for west-south Indian shrimps(21/25) to a high of 3.4% for Vietnamese shrimps(16/20). This indicates that the shrimp futures market doesn't behave as risk management instrument of shrimp spot.

• The Journal of Fisheries Business Administration
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• v.41 no.2
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• pp.25-44
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• 2010

The laver has been cultivated long time ago in Korea. And traditional production system was changed to new system about 30 years ago. The new production system is understood the specialization of laver products, that is, originally individual fishery households made final laver products from raw cultured laver in sea working to dry working in land, but the new system was separated raw laver production in sea and dry laver production, which made final dry laver products by purchase the raw laver in land. This change has been increased laver production, 10 billion sheets in 2000's from 5 billion sheets in 1980's. And rapid production increase gave rise to some troubles on laver industry that is a serious drop in real laver prices, discord structure between raw laver producer and dry laver producer, stagnation of laver consumption, etc. Now Korea is the best laver production country together with Japan in world. Then we have to consider some schemes for the sustainable development of laver industry. One of such schemes is export enlargement of laver against world. The consumption of laver has been globally increased in recent. The other is the grading test problem of dry laver. Because the rapid increase of laver production caused to drop laver quality. Then we seriously have to consider the grading test of dry laver for high level quality production.