• Journal of the Korea Society of Computer and Information
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• v.29 no.3
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• pp.191-198
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• 2024

Korea is an import and export-oriented economy that relies on shipping transportation, and sea ports play an important role in national economic growth. To secure and maintain the competitiveness of these ports, hardware and software investments are required, but policy support can also be expected to have an effect. This study identified the irrationality of the system by exploratory analysis of the port facility fee discount system for Ulsan Port, an energy hub port, and suggested improvement measures to resolve it.This study analyzed the volume of Ulsan Port and the reduction of port facility usage fees for about 10 years and identified irrational factors that despite a special port for liquid cargo, a considerable reduction for container cargo is concentrated, and even because it was a passing ship, 100% reduction for entrance and clearance fees were provided to them, which could cause serious moral hazard.. As a way to improve the port facility charge discount system at Ulsan Port, this study proposed strengthening support for eco-friendly activities to support containers, adjusting the reduction rate for passing ships, or improving the reduction and exemption application process.

• Journal of Navigation and Port Research
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• v.45 no.6
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• pp.276-283
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• 2021

The capital structure of the shipping business, which is characterized by its capital intensity and extreme market volatility, is closely related to long-term stability. Research in this area has been conducted mostly in the form of deriving the determinants of capital structure from company-wise financial ratios. This research, on the other hand, has a different approach to the topic. It identifies the relationship between actual cash profit and loss and other variables - i.e. actual vessel prices, interest rates and leverage ratio - by employing historical simulation. The result demonstrates that the P anamax cash profit shows 0 (break-even point) when the debt weight reaches 64.38% (debt ratio 180.74%) and the Cape, 73.04% (debt ratio 270.92%). Additionally, the ships of different types show a divided pattern for the pre- and post-'Super Boom'. It indicates that the business area and the market cycle should be considered when a leverage strategy is established. This research benefits shipping companies set a rational leverage strategy as well as delivers a reasonable guideline to government authorities for the development of a sound policy on shipping finance.

• Journal of Korea Port Economic Association
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• v.29 no.2
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• pp.81-111
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• 2013

Along with a general growth in living standards there has been a corresponding increase in the demand for tourism. Cruise based tourism, in particular, has become one of the most dynamic and dramatic growth sectors in the tourism industry over the last 20 years, including in the Northeast Asian region. In line with the growth of passenger numbers, the number of cruise ships and their berth capacities has increased significantly since the late 1970s. Korea, as a peninsular nation, has also experienced a rapid growth in cruise passenger numbers. The national economy has greatly benefited from this as the industry acts as an income generator, creating new jobs and potential investments and in developing local tourism. Ports play an important role in the development of any national cruise industry, providing not only ship berths but supply and bunkering facilities and a gateway to local tourism opportunities. The selection of the optimal cruise port location is an important and complex problem because the decision makers have to consider a large number of criteria which have a significant effect on the economy, environment, human life, and society. This paper investigates those criteria that are significant in developing a successful cruise port by employing a questionnaire survey of major cruise port users - shipping companies and tourism companies. The ports, surveyed in this study are Busan, Incheon, Yeosu and Jeju. All have been identified as important potential cruise ports in the Korean Government's 'The 3rd Port Basic Plan (2011-2020)'.

• Journal of Korea Port Economic Association
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• v.38 no.3
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• pp.1-13
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• 2022

The Busan-Ulsan-Gyeongsangmando(BuUlGyeong) megacity aims to grow into the second metropolitan area by strengthening the growth and connectivity of the southeast region in Korea. In order to analyze the linkage between port logistics and regional economic development, this study focused on the economic community of BuUlGyeong. The findings are as follows. First, it was found that vessel entry and departure had a positive (+) significant effect on cargo volume. Second, the cargo volume was found to have a preemptive effect on the vessel entry and exit ports and the composite index. Third, the composite Index was found to have a significant positive (+) effect on cargo volume. From the results of the variance decomposition, it can be confirmed that the composite index has a weak impact on ship entry/exit and cargo volume. Based on the above findings, some policy implications are derived. First, regional governments in BuUlGyeong should provide incentives to revitalize the maritime economy such as the expansion of maritime port infrastructure and encouraging investment. Second, since an increase in cargo transport volume at major national ports linked to the BuUlGyeong region has a positive (+) effect on economy. Therefore it is necessary to expand actively port marketing and regular service for the country and ports. Third, investments should be made continuously to expand the marine port infrastructure such as the expansion of facilities so that global shipping companies can continue to call megacities in BuUlGyeong ports for super-large ships and cruises.