• Journal of Navigation and Port Research
• /
• v.46 no.4
• /
• pp.375-384
• /
• 2022

The shipping industry is cyclically impacted by complex variables such as various economic indicators, social events, and supply and demand. The purpose of this study was to analyze the operating profit of 13 Korean liner companies over 30 years, including the financial crisis of the late 1990s, the global financial crisis of the late 2000s, and the COVID-19 global pandemic. This study was conducted to also identify factors that impacted the profit ratio of Korea's liner shipping companies according to economic conditions. It was divided into ocean-going and short-sea shipping, reflecting the characteristics of liner shipping companies, and was analyzed by hierarchical multiple regression analysis. The time series data are based on the Korean International Financial Reporting Standards (K-IFRS) and comprise seaborne trade volume, fleet evolution, and macroeconomic indicators. The outliers representing the economic downturn due to social events were separately analyzed. As a result of the analysis, the China Container Freight Index (CCFI) positively impacted ocean-going as well as short-sea liner shipping companies. However, the Korean container shipping volume only impacted ocean-going liners positively. Additionally, world and Korea's GDP, world seaborne trade volume, and fuel price are factored in the operating profit of short sea liner shipping. Also, the GDP growth rate of China, exchange rate, and interest rate did not significantly impact both groups. Notably, the operating profitability of Korea's liner shipping shows an exceptionally high rate during the recessions of 1998 and 2020. It is paradoxical, and not correlated with the classical economic indicators. Unlike other studies, this paper focused on the operating profit before financial expenses, considering the complexity as well as difficulty in forecasting the shipping cycle, and rendered conclusions using relatively long-term empirical analysis, including three economic shocks.

• Proceedings of the Korean Operations and Management Science Society Conference
• /
• 1996.10a
• /
• pp.182-185
• /
• 1996

This paper analyzes how the international callback services affect on the international telecommunications market. We present a simple game-theoretic model to compare the equilibrium outcomes before and after the arrival of callback operator. We find that the callback service arises from the inefficiencies in the national telecommunications market and the accounting rate system between international telecommunications carriers. Also, we identify the conflicting interests among the governments and carriers, by examining how the callback service affects the collection rate, quantities demanded, carrier's profit and social welfare of each country.

• Journal of Korean Society for Quality Management
• /
• v.46 no.4
• /
• pp.959-972
• /
• 2018

Purpose: This study developed a simulation model that incorporates the uncertainty of demand and yield to obtain optimized results for supply chain coordination within environmental constraints. The objective of this study is to examine whether yield management for perishable products can achieve the goal of supply chain coordination between a single buyer and a single supplier under a variety of environmental conditions. Methods: We investigated the efficiency of a revenue-sharing contract and a wholesale price contract by considering demand and yield uncertainty, profit maximizing ratio, and success ratio. The implications for environmental variation were derived through a comparative analysis between the wholesale price contract and the revenue-sharing contract. We performed Monte Carlo simulations to give us the results of an optimized supply chain within the environments defined by the experimental factors and parameters. Results: We found that a revised revenue-sharing contracting model was more efficient than the wholesale price contract model and allowed all members of the supply chain to achieve higher profits. First, as the demand variation (${\sigma}$) increased, the profit of the total supply chain increased. Second, as the revenue-sharing ratio (${\Phi}$) increased, the profits of the manufacturer gradually decreased, while the profits of the retailer gradually increased, and this change was linear. Third, as the quality of yield increased, the profits of suppliers appear to increased. At last, success rate was expressed as the profit increased in the revenue-sharing contract compared to the profit increase in the wholesale price contract. Conclusion: The managerial implications of the simulation findings are: (1) a strategic approach to demand and yield uncertainty helps in efficient resource utilization and improved supply chain performance, (2) a revenue-sharing contract amplifies the effect of yield uncertainty, and (3) revised revenue-sharing contracts fetch more profits for both buyers and suppliers in the supply chain.

• Health Policy and Management
• /
• v.34 no.1
• /
• pp.38-47
• /
• 2024

Background: Korea's population of children and adolescents has decreased by 2.88 million over the past decade and is expected to decline further due to the unprecedented low birth rate. In the fee-for-service compensation system, the decline in the pediatric population relates directly to the profit decrease in the pediatric clinics. This study analyzed whether the worsening profits of pediatric clinics impacted their closure. Methods: We built annual data for pediatric and other department clinics (internal medicine, otolaryngology, and family medicine) using the status of medical institute and health insurance claims data from 2012 to 2022. Then, we analyzed whether institutional variables such as annual profit and regional variables (Herfindahl-Hirschman index, the number of clinics per 100,000, etc.) affected the closure of clinics. The methods used in this study are descriptive statistics and chi-square analysis. Odds ratios for each variable were estimated by generalized estimating equations (GEE). Results: The closure rate of pediatric clinics was 2.66%-7.04% in 2012-2022, which was consistently higher than those of internal medicine, otolaryngology, and family medicine clinics. The profit gap per institution between the pediatric and the other clinics grew from 126 million won in 2012 to 245 million won in 2019. In the GEE analysis, profit decrease compared to the previous year with lower profit was the main factor that increased the closure of pediatric and other department clinics. After adjusting profit-related variables, the decrease in the pediatric population itself did not relate to the closure of pediatric clinics. The number of pediatric clinics or monopolies also did not affect the closure of pediatric clinics. Conclusion: The worsening profit is the crucial factor for the closure of pediatric clinics, while the pediatric population is decreasing. For this reason, it is necessary to actively seek ways to maintain a stable treatment system for children and adolescents.

• Journal of the Korean Wood Science and Technology
• /
• v.21 no.1
• /
• pp.7-14
• /
• 1993

To increase the production of mushrooms and the economic efficiency of mushroom cultivation, the pinchips(PC) and sawdusts(SD) of three Korean oak species were tested as cultivating media for Lentinus edodes with varing the composition of the media. The results are as follows. 1. Organic acids(tannic acid and citric acid), which were added in the PC medium to enrich the quality of mushrooms, did not increase the growths of the mycelia and the quality. 2. The mushrooms were able to be harvrested from six months after beginning the cultivation. No significant differences were found among the qualities of the mushrooms produced by various treatments. 3. The production rate of mushroom was relatively high with, 28.4~29.3% (700~730gr./2,500gr pack). The net profit estimated was about 1,450 won per pack.

• Journal of the Korean Institute of Landscape Architecture
• /
• v.24 no.1
• /
• pp.55-64
• /
• 1996

The size of leisure space has been determined on the basis of the annual and peak day's number of visitor, turnover rate, and size per visitor. But the past models have no theoretical base and practical errors on the many cases. So, this study was carried out to build and test a new theoretical model for selecting a optimal size of theme park. The basic concept of the model building is the break-even point analysis of cost-volume-profit relation. That is, Gain-Loss of theme park is determined by marginal profit and fixed cost by size. YongIn Farmland was selected as a model test case.

• Knowledge Management Research
• /
• v.11 no.1
• /
• pp.37-50
• /
• 2010

Bioharmaceutical technologies have consistently been areas in which large licensing agreements have been negotiated. However, there are very limited informations in the open literature on how its running royalty rates are determined and no specific methods are yet provided. The purpose of this study is to suggest an appropriate method for the estimation of running royalty of bioharmaceutical technology in licensing agreements. Here distribution of risk-adjusted operating margins are obtained by simulation using statistics of success rates in the stage of clinical trials and profit margins. Three factors based on technology, business and license legal terms are considered and combined as licensing competitiveness level. Finally, reasonable running royalty is estimated by combining simulated distribution and licensing competitiveness level. This suggested method is expected to practically useful for licensor to establish an appropriate running royalty rate for licensing.

• Journal of Information Technology Applications and Management
• /
• v.11 no.3
• /
• pp.23-33
• /
• 2004

Internet bid systems have been widely used recently. In those systems, the bid price is provided by the seller. When the bid price is set too high compared with the normal price, the successful bid rate can be decreased. Otherwise, when it is set too low based on inaccurate information, it can result in a successful bid with no profit at all. To resolve this problem, we propose an agent that automatically generates bid prices for sellers based on various costing methods such as the high-low point method, the scatter diagram method, and the learning curve method. Through performance experiments, we have found that the number of successful bids with appropriate profit can be increased using the bid pricing agent. Among the costing methods, the learning curve method has shown the best performance. Also, we discuss about how to design and implement the bid pricing agent.

• Journal of Korea Society of Digital Industry and Information Management
• /
• v.11 no.4
• /
• pp.165-175
• /
• 2015

Based on reviewing the literature and statistical year books on current projects that are targeting Industry 4.0 and Smart Factory, this paper aims to show concepts of Industry 4.0, and Smart Factory. Also it shows 5 projects for Industry 4.0 led by governments that worry over their low employment and productivity in main industrialized countries: Germany, China, Japan, the USA, and Korea. In addition it presents some problems which are very important but easy to be overlooked, especially on employment, and it makes three suggestions to solve employment problems. First, government should tax the profit which a company makes on reducing workers in spite of a high rate of profit through technology innovation. Second, to help small businesses to last longer, government should link major companies and small companies. Third, government, academic circles and the industrial world should take part in configuring consortia like American "Industry talent Consortium" to cultivate IT Talent.

• Journal of the Korean Operations Research and Management Science Society
• /
• v.20 no.2
• /
• pp.95-107
• /
• 1995

This paper deals with the problem of determining optimal credit period and production lot size from the perspective of producer. We assume that a ratailer jointly determines the unit retail price and order size to maximize profit when he/she puechases a product for which the producer offers a trade credit. Two widely used demand functions are adopted for the study in which demands are decreasing function of the retail price. Mathematical models for producer-retailer system are developed and a solution procedure is presented which show how to achieve an optimal length of trade credit and production lot size for producer. The effect of production rate on the behavior of both producer and retailer is also investigated using an example.