• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.59 no.1
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• pp.19-27
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• 2023

The interest in greenhouse gases (GHG) emitted from all industries is emerging as a very important issue worldwide. This is affecting not only the global warming, but also the environmentally friendly competitiveness of the industry. The fisheries sector is increasingly interested in greenhouse gas emissions also due to the Paris Climate Agreement in 2015. Korean industry and government are also making a number of effort to reduce greenhouse gas emissions so far, but the effort to reduce GHG in the fishery sector is insufficient compared to other fields. Especially, the investigation on the GHG emissions from Korean fisheries did not carry out extensively. The studies on GHG emissions from Korean fishery are most likely dealt with the GHG emissions by fishery classification so far. However, the forthcoming research related to GHG emissions from fisheries is needed to evaluate the GHG emission level by species to prepare the adoption of Environmental labels and declarations (ISO 14020). The purpose of this research is to investigate which degree of GHG emitted to produce the species (swimming crab and snow crab) from various fisheries. Here, we calculated the GHG emission to produce the species from the fisheries using the life cycle assessment (LCA) method. The system boundary and input parameters for each process level are defined for LCA analysis. The fuel use coefficients of the fisheries for the species are also calculated according to the fuel type. The GHG emissions from sea activities by the fisheries will be dealt with. Furthermore, the GHG emissions for producing the unit weight species and annual production are calculated by fishery classification. The results will be helpful to establish the carbon footprint of seafood in Korea.

• Journal of Navigation and Port Research
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• v.48 no.3
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• pp.206-213
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• 2024

This paper aims to investigate the causal relationship between geopolitical risk and stock price volatility in the shipping industry. Given its international nature and dependence on global trade, this industry is exposed to various uncertainties and risk factors. This study specifically focuses on the impact of geopolitical risk, which has gained significant attention in recent years due to events such as the Russia-Ukraine War and the Israel-Hamas War. To analyze this relationship, the study utilizes vector autoregressive model-based causality tests. The research estimates the causal relationship between geopolitical risk indicators and the stock price volatility of five shipping companies listed on the Korea Exchange. The study covers the period from 2000 to 2023. The results indicate the following: Firstly, an increase in geopolitical risk leads to a rise in stock price volatility for shipping companies. Moreover, the impact of actual geopolitical events, rather than just diplomatic disputes, is statistically significant. Lastly, the impact of geopolitical risk is particularly significant in the bulk shipping sector.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2014.06a
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• pp.183-185
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• 2014

The purpose of this paper aims at contributing to the national economic development through global competitiveness enhancement by marine finance's hub and marine logistics cluster by finance specialization and finance support as a creative-type service industry in global shipping port logistics. This study adopted the integrated approach and applied it to policy implementation to achieve the effectiveness. Creative-type marine finance development stages as a tool of policy implementation and the guide line for the time of policy implementation are followed by Stage 1(Construction & Growth Policy) for 2013~2016, Stage 2(Forstering & Activation Policy) for 2017~2019) and Stage 3(Continuous Development Policy) after 2020 until its completion. Korea has the inferiority over the competitiveness in global marine finance and needs a strategic approach to secure the liquidity of marine finance; interim, Islamic finance has been come to the force as a new alternative in financial transaction being accompanied by a spot transaction since the crisis of global finance. In order to create a potential slack of Korea in marine finance practice, in addition, this study suggests a consortium with the circle of Islamic finance as a clue of an easier policy implementation at the beginning stage.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.4
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• pp.349-357
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• 2017

The environmental problems affecting marine resources and slow growth in the fisheries industry is causing many countries to look for alternative inputs that can boost the fisheries sector. This study focuses on the effects of technological innovation in the fisheries industry on the gross domestic product (GDP) per capita across Organization for Economic Cooperation and Development (OECD) countries. Using a panel dataset, this study attempts to estimate the different effects of technological innovations in the fisheries industry from country to country using the differences-in-differences (DiD) method. After the DiD method, the Granger causality test is applied to determine the interactive relations between economic growth and the selected variables associated with technological innovation in the fisheries industry, such as government spending on fisheries R&D, the number of patents in fisheries, and employment. The results obtained from the DiD estimation show that government spending on fisheries R&D, fisheries technology development, and fisheries employment positively influences the GDP per capita across OECD counties. From the causality test, we found different bi-directional causal relationships between the GDP per capita and (spending) on fisheries technology development across countries.

• Journal of Navigation and Port Research
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• v.27 no.3
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• pp.297-306
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• 2003

As the competition in the liner shipping industry is becoming fiercer, the shipping company is trying to find the way to keep the best competitive position by reducing the cost level as low as possible and offering the best quality of service to their customer. In order to achieve this goal, the selection of port and terminal that have the best quality of service and cost effective structure is essential for the shipping line, where they can only have a chance to save the money. In this context, the paper compares three European container terminals in order to understand the factors that have to be considered in the decision making process for the selection of terminal. And its advantages and disadvantages of each type of container terminal operation system were analyzed from the liner shipping company's point of view in terms of cost, time, flexibility, stability, hinterland connection, geographical position and terminal productivity. It is obvious that the cost factors are very important for liner shipping company to select their terminal. However, there might be even more important factors than the cost factors, such as quality of port and terminal service, mutual trust, and possibility of future development.

• Journal of the Korean Society of Manufacturing Technology Engineers
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• v.22 no.5
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• pp.767-773
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• 2013

A high-pressure, high-pressure drop control valve, which transforms the power transfer of a system by reducing the inlet pressure of 345bartothe outlet pressure of 112bar, is a fundamental component in an offshore plant process. With the increasingly growing market share of the maritime industry, this valve has been expected to be a high-value-added product. This study not only analyzes the relation between pressure drop and fluid velocity in a trim by using fluid analysis, but also examines the possibility of cavitation in a valve in addition to the plot for the extension of lifespan. Based on the analysis results, the design and production method of the valve are established, and accordingly, performance evaluation is carried out. It is demonstrated that the pressure drop from 345bar to 112bar is more feasible in the presence of the trim, which can induce a continuous and diminutive pressure drop in order to prevent cavitation in a high-pressure drop control valve. Furthermore, despite the fluid velocity near a seatring being found to be over 30m/s, the lifespan of the valve is determined to be adequate considering the operation condition of a prototype valve of 80%.

• Journal of the Society of Naval Architects of Korea
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• v.49 no.1
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• pp.26-32
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• 2012

The 3-D unsteady viscous flow around an impulsively started rotating marine propeller is simulated using VIC(Vortex-In-Cell) method which is adequate to analyze the strong vortical flow around complicatedly-shaped body. The computational procedure is governed by the vorticity transport equation in Lagrangian form. In order to solve the equation, a regular grid which is independent to the shape of a body is introduced and each term of the equation is evaluated numerically on the grid by applying immersed boundary concept. In this paper, the overall algorithm including the formulation of governing equations and boundary conditions is described and some computational results are presented with discussing their physical validity.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.6
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• pp.145-155
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• 2020

This study analyzes the degree of competition in the oil refinery market in Korea, which is considered an oligopoly market. The price of gasoline and diesel and the quantity of supply are used to identify the market competition. We also analyze whether the oil tax reduction policy has affected market competition. The competitiveness of the market was examined using monthly data from 2008 to 2019. Bresnahan-Lau method was employed to estimate the degree of competition in the oil refinery market, which is frequently used in the industrial studies. The analysis shows that the gasoline and diesel markets seem close to a perfect competitive market. Also, the tax cut has weakened market competition. In other words, the monopolistic power has increased in the market, so consumers have not benefit from the price cuts as much as tax cuts. Although the oil refinery market where four major companies are competing, the government's monitoring and price disclosure system help the market to be highly competitive as much as a perfect competition market. The tax cut, in the high oil price era, has a negative effect on the competition because of an information asymmetry about the price-setting process between suppliers and consumers.

• Journal of Ocean Engineering and Technology
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• v.23 no.2
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• pp.92-97
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• 2009

In order to export aircraft components or substructures, it is necessary to get a certification from the main company for the components or an airworthiness certification from the FAA. In Korea, those processes are performed by a small number of private companies for aircraft components. However, airworthiness certification has never been done in the company. To export an assembled aircraft, whether small or large, it is obligatory to get a certification for the aircraft being exported. Currently, the Korean government is trying to get BASA agreement in a few years. For a mid-size company, it is easier to get the NADCAP audit process for the supply of aircraft components to the main company. In this paper, the overall process of aircraft certification is discussed and airworthiness certification is treated for export aircraft. Moreover, the NADCAP audit process is described in detail by introducing example parts made of composite material. This detailed process would be very helpful to a small or mid-size company that wants to develop and deliver aircraft components to foreign companies.

• Journal of Ocean Engineering and Technology
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• v.24 no.5
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• pp.31-38
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• 2010

The Floating storage and re-gasification unit (FSRU), which has large cargo storage tanks, is a floating liquefied natural gas (LNG) import terminal. The sloshing motion in tanks that are partially filled with LNG can cause impact pressure on the containment system and affect the global motion of the FSRU. Therefore, the accurate prediction of sloshing motion has been a significant issue in the offshore gas production industry. In this paper, a particle method based on the moving particle semi-implicit (MPS) method proposed by Koshizuka and Oka (1996) has been modified to predict sloshing motion accurately in a rectangular tank with the filling ratio of water. The simulation results, including the violent sloshing of the fluid, were validated by comparison with the original MPS method.