• Journal of Navigation and Port Research
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• v.46 no.5
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• pp.449-457
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• 2022

The Port of Busan is currently ranked as the seventh largest container port worldwide in terms of cargo throughput. However, port competition in the Far-East region is fierce. The growth rate of container throughput handled by the port of Busan has recently slowed down. In this study, we analyzed how economic conditions and multiple external shocks could influence cargo throughput and identified potential implications for port business. The aim of this study was to build a model to accurately forecast port throughput using the ARIMA model, which could incorporate external socio-economic shocks, and the VEC model considering causal variables having long-term effects on transshipment cargo. Findings of this study suggest that there are three main areas affecting container throughput in the port of Busan, namely the Russia-Ukraine war, the increased competition for transshipment cargo of Chinese ports, and the weaker growth rate of the Korean economy. Based on the forecast, in order for the Port of the Port of Busan to continue to grow as a logistics hub in Northeast-Asia, policy intervention is necessary to diversify the demand for transshipment cargo and maximize benefits of planned infrastructural investments.

• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.121-145
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• 1992

This paper examines characteristics of time series data related to the construction investment(stationarity and time series components such as secular trend, cyclical fluctuation, seasonal variation, and random change) and surveys predictibility, fitness, and explicability of independent variables of various models to build a short-term construction investment forecasting model suitable for current economic circumstances. Unit root test, autocorrelation coefficient and spectral density function analysis show that related time series data do not have unit roots, fluctuate cyclically, and are largely explicated by lagged variables. Moreover it is very important for the short-term construction investment forecasting to grasp time lag relation between construction investment series and leading indicators such as building construction permits and value of construction orders received. In chapter 3, we explicate 7 forecasting models; Univariate time series model (ARIMA and multiplicative linear trend model), multivariate time series model using leading indicators (1st order autoregressive model, vector autoregressive model and error correction model) and multivariate time series model using National Accounts data (simple reduced form model disconnected from simultaneous macroeconomic model and VAR model). These models are examined by 4 statistical tools that are average absolute error, root mean square error, adjusted coefficient of determination, and Durbin-Watson statistic. This analysis proves two facts. First, multivariate models are more suitable than univariate models in the point that forecasting error of multivariate models tend to decrease in contrast to the case of latter. Second, VAR model is superior than any other multivariate models; average absolute prediction error and root mean square error of VAR model are quitely low and adjusted coefficient of determination is higher. This conclusion is reasonable when we consider current construction investment has sustained overheating growth more than secular trend.

• Journal of Navigation and Port Research
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• v.44 no.1
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• pp.44-52
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• 2020

More accurate forecasting of port cargo in the global long-term recession is critical for the implementation of port policy. In this study, the Busan Port container volume (export cargo and transshipment cargo) was estimated using the Vector Autoregressive (VAR) model and the vector error correction (VEC) model considering the causal relationship between the economic scale (GDP) of Korea, China, and the U.S. as well as ARIMA, a single volume model. The measurement data was the monthly volume of container shipments at the Busan port J anuary 2014-August 2019. According to the analysis, the time series of import and export volume was estimated by VAR because it was relatively stable, and transshipment cargo was non-stationary, but it has cointegration relationship (long-term equilibrium) with economic scale, interest rate, and economic fluctuation, so estimated by the VEC model. The estimation results show that ARIMA is superior in the stationary time-series data (local cargo) and transshipment cargo with a trend are more predictable in estimating by the multivariate model, the VEC model. Import-export cargo, in particular, is closely related to the size of our country's economy, and transshipment cargo is closely related to the size of the Chinese and American economies. It also suggests a strategy to increase transshipment cargo as the size of China's economy appears to be closer than that of the U.S.

• Atmosphere
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• v.34 no.1
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• pp.23-34
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• 2024

The Korea Meteorological Administration has improved medium-range weather forecasts by implementing post-processing methods to minimize numerical model errors. In this study, we employ a statistical correction technique known as the minimum continuous ranked probability score (CRPS) to refine medium-range forecast guidance. This technique quantifies the similarity between the predicted values and the observed cumulative distribution function of the Unified Model Ensemble Prediction System for Global (UM EPSG). We evaluated the performance of the medium-range forecast guidance for surface air temperature and relative humidity, noting significant enhancements in seasonal bias and root mean squared error compared to observations. Notably, compared to the existing the medium-range forecast guidance, temperature forecasts exhibit 17.5% improvement in summer and 21.5% improvement in winter. Humidity forecasts also show 12% improvement in summer and 23% improvement in winter. The results indicate that utilizing the minimum CRPS for medium-range forecast guidance provide more reliable and improved performance than UM EPSG.

• Korean Journal of Agricultural and Forest Meteorology
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• v.14 no.4
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• pp.143-154
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• 2012

As demand of water resources and attentions to changes in climate (e.g., due to ENSO) increase, long/short term prediction of precipitation is getting necessary in water planning. This research evaluated the ability of MM5 to predict precipitation in the Tampa Bay region over 23 year period from 1986 to 2008. Additionally MM5 results were statistically bias-corrected using observation data at 33 stations over the study area using CDF-mapping approach and evaluated comparing to raw results for each ENSO phase (i.e., El Ni$\tilde{n}$o and La Ni$\tilde{n}$a). The bias-corrected model results accurately reproduced the monthly mean point precipitation values. Areal average daily/monthly precipitation predictions estimated using block-kriging algorithm showed fairly high accuracy with mean error of daily precipitation, 0.8 mm and mean error of monthly precipitation, 7.1 mm. The results evaluated according to ENSO phase showed that the accuracy in model output varies with the seasons and ENSO phases. Reasons for low predictions skills and alternatives for simulation improvement are discussed. A comprehensive evaluation including sensitivity to physics schemes, boundary conditions reanalysis products and updating land use maps is suggested to enhance model performance. We believe that the outcome of this research guides to a better implementation of regional climate modeling tools in water management at regional/seasonal scale.

• Journal of Climate Change Research
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• v.9 no.1
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• pp.47-58
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• 2018

In this study, we evaluated the uncertainty in the process of selecting GCM and downscaling method for assessing the impact of climate change, and influence of user-centered climate change information on reproducibility of Chungju Dam inflow was analyzed. First, we selected the top 16 GCMs through the evaluation of spatio-temporal reproducibility of 29 raw GCMs using 30-year average of 10-day precipitation without any bias-correction. The climate extreme indices including annual total precipitation and annual maximum 1-day precipitation were selected as the relevant indices to the dam inflow. The Simple Quantile Mapping (SQM) downscaling method was selected through the evaluation of reproducibility of selected indices and spatial correlation among weather stations. SWAT simulation results for the past 30 years period by considering limitations in weather input showed the satisfactory results with monthly model efficiency of 0.92. The error in average dam inflow according to selection of GCMs and downscaling method showed the bests result when 16 GCMs selected raw GCM analysi were used. It was found that selection of downscaling method rather than selection of GCM is more is important in overall uncertainties. The average inflow for the future period increased in all RCP scenarios as time goes on from near-future to far-future periods. Also, it was predicted that the inflow volume will be higher in the RCP 8.5 scenario than in the RCP 4.5 scenario in all future periods. Maximum daily inflow, which is important for flood control, showed a high changing rate more than twice as much as the average inflow amount. It is also important to understand the seasonal fluctuation of the inflow for the dam management purpose. Both average inflow and maximum inflow showed a tendency to increase mainly in July and August during near-future period while average and maximum inflows increased through the whole period of months in both mid-future and far-future periods.