• Journal of Korea Port Economic Association
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• v.27 no.2
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• pp.355-372
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• 2011

Various incentive policies for transshipment cargo have been enforced without any evaluation of the effectiveness. Therefore, the purpose of this study is to evaluate the effect of volume incentive on container transshipment cargo. To be different from previous studies, this study tries to quantitatively assess the incentive effects by using econometric techniques. The result derived from the ARIMA type models indicates that the total amount of the increased transshipment cargo during the last 7 years is about one million TEU. In the meanwhile, the multivariate long run equilibrium model implies that the increased transshipment cargo is less than 0.5 million TEU for the 7 years. Furthermore, the structural break tests indicate that the volume incentive does not change the model structures. It means that the effect of volume incentive is not statistically significant. Consequently, the test results conclude the effect of volume incentive on transshipment cargo is not significant although the volume of transshipment cargo is increased to some extent by volume incentive. Considering the magnitude of BPA's expenditure, we doubt the effectiveness of volume incentive. This study, therefore, encourages the port authority to research a more efficient way to induce transshipment cargo rather than focusing on only volume incentives.

• Journal of Korean Academy of Nursing
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• v.21 no.3
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• pp.268-280
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• 1991

The nursing intervention for the prevention of the pulmonary complication and of the function lowering of pulmonary ventilation which emerge with high generation frequency during the nursing of operation patient is necessary for performing the qualitative nursing for operation patient. So, this researcher tried this study so as to obtain the data which can be utilized for the trial of nursing intervention, by grasping the effect that the deep breathing with Incentive Spirometer has on the function of pulmonary ventilation, analysing the factor to have influence on the function of pulmonary ventilation, and applying the effective method of deep breathing to the clinic. By making 42 patients who underwent the operation of upper abdomen after admitting G Hospital in Seoul from Mar. 7, 1991 to Apr.30, 1991 as the object, they were classified into the experiment group that the deep breathing was made with the use of Incentive Spiromenter and the comparison group that the deep breathing exercise was made without the use of Incentive Spirometer. And then, by measuring Tidal Volume and Forced Vital Capacity with Respirometer and $O_2$ Saturation with Pulse Oximeter at preoperation postoperation 24 hours, 72 hours, and 120 hours data were collected. The collected data were analyzed with of, average, standard deviation, x$^2$-test, t-test and ANOVA by SPSS. The result of this study is as follows : 1. As for the hypothesis that the function of pulmonary ventilation at postoperation 24 hours, 72 hours and 120 hours will be better in the experiment group that the deep breathing was made with the use of Incentive Spirometer, in comparison with the comparison group that deep breathing was made without the use of Incentive Spirometer, experiment group and comparison group didn't show the significant difference in Tidal Volume, Foreced Vital Capacity and $O_2$ Saturation at postoperation 24 hours and 72 hours. But experiment group and comparison group showed the significant difference in Tidal Volume at postoperation 120 hours (p＜0.01). So, this hypothesis was supported partially. 2. The variables that there were the significant differences about the function of pulmonary ventilation in experiment group at postoperation 24 hours stastically were smoking existence (p＜0.05), and the variables that there were not significant differences about the function of pulmonary ventilation were distinction of sex, age, anesthetic duration, smoking extent, body weight, surface area of body, existence of narcotic use, regular exercise existence, and past experience existence of respiratory disease. As above result, it appeared that the method of deep breathing with the use of the Incentive Spirometer is more effective for the function recovery of pulmonary ventilation, in comparison with the deep breathing without use of Incentive Spirometer and that smoking existence was the factor to have influence on the function of pulmonary ventilation. In the aspect of clinic, the trial of nursing intervention of deep breathing with use of Incentive Spirometer is expected. And, in the aspect of study, the study through various operative site patients about the effect of Incentive Spirometer use at the clinic will have to be confirmed.

• Journal of Korea Port Economic Association
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• v.29 no.1
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• pp.23-45
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• 2013

This paper aims to identify the problems of incentives and find a solution to them by empirically analyzing the port incentives and the development of cargo volume. The current method of paying performance incentives and cargo-increase incentives makes it is possible for shipping companies to get the maximum incentives just by regulating cargo volumes without increasing them. Since the processing volume of transshipment cargo of the Busan port is over the volume eligible for the maximum incentive determined by the tie-up of shipping companies, the transshipment cargo can decrease. The incentive of the Busan port based on the cargo record and increase does not affect the increase of transshipment cargo, only to suffer a loss, and thus a new incentive system is needed that does not allow shipping companies to regulate cargo volumes. Based on the result of this study, We have to apply the even-handed incentive rule which pays the incentive for the cargo volume of the pertinent year with the unit price per 1 TEU to avoid the chicken game among the ports.

• Journal of Korea Port Economic Association
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• v.29 no.2
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• pp.1-17
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• 2013

This paper aims to review the fairness of carriers' incentive schemes at Gwangyang port in 2010 and to show the desirable incentive allocation rules using the proportional and egalitarian rules under cooperative game theory. The carriers' incentive schemes at Gwangyang port in 2010 did not meet the no-envy and the efficiency, and satisfy the symmetry axiom. According to the research findings, the equal surplus method satisfies the axioms of equity, efficiency, symmetry, and progressivity. However, the uniform losses method meets the axioms of equity, efficiency, symmetry, and regressivity. We use a single allocation criterion of the total throughput to show the regressivity and the symmetry principles into the incentive scheme instead of using multiple criteria such as total throughput, increased volume, and coastal volume. The uniform losses method based on the total throughput can distribute the incentive amount according to the intent of the incentive schemes. Hence, we need to establish a rationing system to allocate reasonably the total amount of different types of incentives, avoiding the temptation to adjust the volume shipped between the ports of carriers considering the efficiency of allocation.

• Journal of Navigation and Port Research
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• v.45 no.3
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• pp.117-129
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• 2021

This study intends to verify the effectiveness of incentive schemes at Busan Port' aimed at promoting transshipment cargo. The current incentive schemes of Busan port intended to increase the T/S cargo volume have been disputed constantly. It is imperative, therefore, to restructure the system in accordance with the planned strategy. In this study, in order to ensure objectivity of the incentive schemes, all the parties (carriers, terminal operators and Port Authority) with a direct interest are answered and analyzed using the AHP methodology. Effectiveness is the top priority in the analysis of beneficiary validity of incentive schemes, when incentives are provided to Global overseas carriers compared with Global national carriers, IntraAsia carriers and Terminal operators. In the analysis of incentive schemes, direct cash support corresponding to the quantity of the T/S cargo had the highest effectiveness compared with exemption of port dues, cost compensation, port infrastructure support and subsidy for the service opening. The study results, therefore, reference the Port Authority when restructuring the schemes. This study has been conducted only focusing on the Busan port; however, the findings may have significant implications for overseas Port Authorities intending to implement incentive systems to promote cargo volumes similar to those at Busan port.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.1
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• pp.33-50
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• 2014

Though South Korea has world-class volume of Venture Capital Investment, as a share of GDP, early stage venture investments are still short, and investments are concentrated in high technology area and Capital area. Because of the high barriers to entry of the new IPO and M&A market, the venture capital companies undergo difficulties in profit. High-tech ventures face difficulties in raising money from outside investors due to information asymmetry between venture investors and venture companies. To resolve these problems, developed countries's government make a co-funding investment scheme with private sectors and design incentive mechanism such as receiving knowledge of the reputable investors' joint venture. Korean central and local government can benchmark those of things. For example, the expansion of the investment volume with private sector, region-specific matching fund and venture capital's exit path diversification such as M&A through the establishment of a business venture eco-system. At the same time, venture companies are to make an efforts to enhance the ability of screening for venture companies and the value for investment activities through a joint venture investments.

• Journal of Navigation and Port Research
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• v.33 no.7
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• pp.491-500
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• 2009

In order to attract more transshipment cargoes, Busan Port Authority (BPA) has, since 2003, adopted the volume incentive policy by which more than US$ 10 million annually have been paid back to shipping lines that were called at the port. However, having been a transshipment port for the Northeast region of China, the port of Busan has come under threat from bold Chinese port development projects, notably Shanghai, as northern Chinese regionnl ports place more emphasis on building facilities capable of handling growing trade volumes. Undoubtedly this would lead to a decline in transshipment container traffic moved via Busan. The purpose of this paper is to identify some core factors that have been affecting the increase of transshipment cargoes of Busan and further to recommend BPA an improved incentive scheme with which more T/S cargoes can be attracted into the port of Busan To clarity the reason why T/S cargoes have increased in the port of Busan, several steps are made as follows: The first step is to make a quantitative model for explaining the development of T/S cargoes during the last decade. The second step is to define the dependent and the independent variables for multiple regressions after testing variable significance. For this, data collection and the accuracy of validation have been done by the direct interview with the experienced staffs in shipping companies of both domestic and foreign country. After validating the model with collected data, the final step is to find variables which are explaining the model mostly. In conclusion, 2 variables were clearly identified as core factors that explain well the development of T/S cargoes in the port of Busan: 'Mohring effect' and total cost. It is strongly recommended, by an empirical study, that an incentive scheme be changed to a way which more feeder vessels rather than mother vessels can reduce their direct costs to call in the port of Busan.

• Journal of Korea Port Economic Association
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• v.36 no.1
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• pp.91-104
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• 2020

Seosan-Daesan Port is the sixth largest port in Korea, and it promotes port infrastructure expansion, regular route development, overseas marketing, and port incentive systems for continuous growth. In addition, the port is planning to open a regular car ferry line to Weihai, China. This study aims to provide useful research data for effective decision making by analyzing the feasibility of opening the Chinese (Weihai) car ferry route of Seosan-Daesan Port. Currently, some car ferry routes that operate between Korea and China are open at Incheon Port, the Port of Pyeongtaek-Dangjin, and the Port of Gunsan. In order to estimate the volume of cargo that will be created when the car ferry route from Seosan-Daesan Port to Weihai opens, this research analyzes the domestic cargo volume from the Chungcheongnam-do region, where Seosan-Daesan Port is located, to each of the regions where the other ports are located. We estimated the volume of cargo that can be transported on the car ferry from Seosan-Daesan Port to Weihai. As a result, by 2020, about 76,000 passengers and about 50,000 tons of cargo could be created. Suggestions were made for policy strategies that would revitalize passenger numbers and secure the cargo volume of the car ferry, along with a discussion of and the port incentive system.

• Journal of the Korea Organic Resources Recycling Association
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• v.29 no.4
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• pp.87-97
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• 2021

This study was conducted to prepare an incentive system (proposal) for the activation of waste-to-energy. Weights for each type of energy use were prepared by conducting prior research and economic analysis. In addition, the waste-to-energy incentive (proposal) was calculated in consideration of energy efficiency for each type of energy use. As a result of economic analysis of 11 biogasification facilities, the B/C value was found to be very diverse, ranging from 0.16 to 1.69. In terms of benefits, imports of waste treatment import fees were very high at 68.4 to 99.3% of the total, and four facilities with a surplus (+) or higher in the management balance. In order to convert energy consumption into units of sales volume, 0.58 Nm³/KW for power generation, 0.17 Nm³/kg for steam, and 1.00 Nm³/Nm³ for external supply were calculated using the 'scale factor'. The 'weight factor' was calculated as 0.249 for power generation, 0.656 for steam, and 0.806 for external supply, respectively, by use type.

• Journal of Distribution Science
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• v.15 no.11
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• pp.73-82
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• 2017

Purpose - This paper aims to investigate a profit maximizing incentive of foreign traders in distributing the KOSPI 200 Futures. Such an incentive may induce unsophisticated retail traders to suffer loss from speculative trading. Since Korean government increased the entry barriers of the market to protect unsophisticated traders, the market size has been decreasing while the proportion of the contract held by foreign traders has been increasing. These on going changes make the market imperfectly competitive, where a profit maximization incentives of foreign traders are expected to grow. In this paper, we attempt to find any evidence of such behavior, thereby providing implications regarding market policy and market efficiency. Research design, data, and methodology - According to Kyle(1985), an informed trader exploits his/her monopoly power optimally in a dynamic context so that he/she makes positive profit, where he/she could conceal his/her trading utilizing noise trading as camouflage. We apply the KOSPI 200 Futures market to the Kyle's model: foreign traders who take into account the effect of his/her trading to maximize expected profits as an informed trader, retail investors as noise traders, and financial institutions as market makers. To find any evidence of monopolistic behavior, we test the variants of trading volume and price data of the KOSPI 200 Futures over the period of 2009 and 2017. Results - First, we find that the price of the KOSPI 200 Futures are more volatile than the price of underlying asset. Second, we find that monopolistic foreign trader's trading order flows are consistent with exploiting his/her monopoly power to maximize profit. Finally, we find that retail investors' trading order flows are inversely consistent with maximizing profit, that is, uninformed retail investors suffer loss continuously in speculative trading against informed traders. Conclusions - Our results show that the quantity of strategic order flows may have a large effect on the price, therefore, resulting the market inefficiency. The results also imply that, in implementing regulations, the depth of the market must be considered to maintain market liquidity, and suggesting interesting research topics regarding the market structure.