• Proceedings of the Korea Port Economic Association Conference
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• 2003.07a
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• pp.221-242
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• 2003

The purpose of this paper is to investigate the effectiveness of port investment which is one of the important elements for measuring the port efficiency by using congestion approach of DEA(Data Envelopment Analysis). Congestion is said to be present when increases in inputs result in ouput reductions. Congestion approach takes the forms of weak input disposability and strong input disposability. Empirical analysis by using congestion approach in this paper identified inefficiencies in the inputs including port investment, and indicated inefficient ports like the ports of Sokcho, Gunsan, Pohang, and Seoguipo which shows the large amount of slacks with congestion especially in terms of port investment. Therefore these ports should examine the reason about the inefficiency of port investment. The main policy implication based on the findings of this study is that The Ministry of Maritime Affairs & Fisheries in Korea should introduce congestion approach when the amount of port investment to each port is decided.

• Journal of Korea Port Economic Association
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• v.19 no.2
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• pp.33-53
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• 2003

The purpose of this paper is to investigate the effectiveness of port investemnt which is one of the important elements for measuring the port efficiency by using congestion approach of DEA(Data Envelopment Analysis). Congestion is said to be present when increases in inputs result in input reductions. Congestion approach takes the forms of weak input disposability and strong input disposability. Empirical analysis by using congestion approach in this paper identified inefficiencies in the inputs including port investment, and indicated inefficient ports like the ports of Sokcho, Gunsan, Pohang, and Seoguipo which shows the large amount of slacks with congestion especially in terms of port investment. Therefore these ports should examine the reason about the inefficiency of port investment. The main policy implication based on the findings of this study is that The Ministry of Maritime Affairs & fisheries in Korea should introduce congestion approach when the amount of port investment to each port is decided.

• Korea Trade Review
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• v.44 no.1
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• pp.285-299
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• 2019

The 'One Belt One Road (OBOR)' initiative, which was promulgated as part of the enlargement policy along with the advent of Xi Jinping in 2013, is a policy to expand China's political and economic power externally through linkages with neighboring countries. China's overseas port investment plays an important role in the promotion of the 'OBOR' policy from the coast of China through maritime transportation routes from S.E Asia to Mediterranean and Europe. Since China's overseas port investment has been made from several factors such as political, economic, and military motives, it differs in purpose and character from investments made by private companies, such as Global Port Operators(GTO) which consider profitability first. This study aims to address future prospects and implications by analyzing the geopolitics of China's overseas port investment under the 'One Belt One Road' initiative. According to the results, China's overseas port investment is dominated by state-owned enterprises and political and security factors are more important than profitability. China's overseas port investment has been on a large scale in a short period of time, and China has faced with various problems both domestically and internationally. such as debt default, environmental problems, subordination problems from recipient countries and political and military confrontation with great countries such as United States, Japan and India etc.

• Journal of Navigation and Port Research
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• v.28 no.7
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• pp.601-608
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• 2004

Recently, port development has been actively in progress through a private investment project. Incheon North Port functions as an auxiliary port for Incheon Port to solve its chronic demurral and freight congestion and to treat materials such as wood, iron material, feed materials. Service charges is one of important factors in the port choice to treat general goods. In general, service charges can be calculated by two methods such as cost accounting method and market price method. This study will review the characteristics of the Incheon North Port (berth 3), which is under the progress of the private investment project and estimate the reasonable service charges for general goods on the basis of market price. This will help a concessionaire to maximize the operation efficiency.

• The Journal of Fisheries Business Administration
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• v.39 no.1
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• pp.63-85
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• 2008

The objective of this study is to review the methodology of economic analysis of fishing ports by examining the economical feasibilities of a national fishing port (Jeongja Port) in Ulsan. This study utilized market value evaluation method to measure the benefits and costs related to the development of ports. The benefit variables are income effects resulting from the developments while the cost variables are sum of construction costs and maintenance costs. The income effects are measured in two ways: (1) income from individual project resulting from the developments, (2) the income effects by utilizing investment multipliers. The results shows that the BC ratio (Benefits/Costs) of Jeongja port by using (1) income from individual project resulting from the developments was 1.07 while the BC ratio by using (2) the income effects by utilizing investment multipliers was 1.10 due to a relative short period of useful life for investment multipliers. However, the income variable utilizing investment multipliers is more sensitive to the period of duration than the income variable from individual project.

• Journal of Korea Port Economic Association
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• v.20 no.1
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• pp.57-77
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• 2004

The meaning of seaport has always been translated into something concerned with nation-wide goals and viewpoints, which used to be in developing country. The time developing countries have tried to be in pursuit of their economic development, one of important sectors is SOC investment that is needed into huge capital input which they couldn't easily afford to it. Another one which we have to mention in terms of seaport at contemporary maritime matters is privatization of port, that is strongly connected with efficiency to achieve port productivity. All these factors can produce high quality of service, and port co-operation and diversification of their business areas, etc. Therefore we then have to think of private port management companies such as P&O Ports, Hutchison Whampoa in HK, etc. in order to provide better port service to the customers, and they can also get involved into capital port investment as well. This kind of concept already comes from Denholm Ship management companies in shipping. So, it is necessary for us to look into port management company in our side, which means, we have to be involved into such a business to invest and manage foreign ports as well as our ports. Then, port competitiveness will follow in our ports.

• Journal of Navigation and Port Research
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• v.39 no.2
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• pp.99-105
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• 2015

Until recently, thermal power plants have used high-rank coals to generate electricity. The switched to low-rank coals, primarily because of the rising coal price and the advancement of combustion technology. Therefore the thermal power plants need more fuels aspect of quantity and they are going to build extra infrastructure to deal with the increased fuel demand in their specialized ports. This paper introduces the process of the economic analysis as a case study for Hadong T/P(Thermal Power) Port. This study also evaluates investment for mew projects in ports. We analyze the costs and benefits of the port investment project using various information. And then we conduct the economic analysis using NPV(net present value), B/C ratio and IRR grounded in a financial theory. Out result of the economic feasibility shows that the new project of constructing a third berth in Hadong T/P Port has positive economic value. Additionally, this study conducts the sensitivity analysis of the major variables like cost, benefit and discount rate.

• Journal of Korea Port Economic Association
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• v.21 no.3
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• pp.149-170
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• 2005

With the globalization of economy, there is keen competition among countries to be a logistics hub and companies are striving to be first in establishing logistics system centering on advantageous sites, especially airport and seaports, to perform supply, production and distribution. Gwangyang port has been designated as Free Economy Zone. This paper analyzes many problems and presents various measures to activate Gwangyang port as follows regional economy to promote Gwangyang Free Economy Zone, governmental support, introduction & logistics functions, early development of the hinterland, investment attraction into the area and diversified promotion & marketing activities.

• Journal of Korea Port Economic Association
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• v.24 no.2
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• pp.209-239
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• 2008

The purpose of this paper is to investigate the effectiveness of Korean port investment by using the newly developed slack-based multi-year panel congestion model of DEA(Data Envelopment Analysis). Inputs[port investment amount, cargo handling capacity, and berthing capacity], and outputs[cargo handling amount, number of ship calls, revenue, and score of customer service satisfaction] are used during 1994-2004 for 20 Korean seaports. Empirical analysis identified congestion especially in port investment as input at the ports of Gunsan, and Busan in the all 3 models, and the ports of Pyungtag, Mogpo, Yeosu, and leju in over 2 models. Port investment induced the rapid increase of port efficiency from the ports of Masan, Incheon, Donghae, and Samcheok. Therefore other ports except these ports should examine the reason about the inefficiency of port investment by searching out the situation of each ports directly. The main policy implication based on the findings of this study is that The Ministry of Land, Transport and Maritime Affairs in Korea should introduce the new measurement way after reviewing the multi-year slack-based congestion approach when the amount of port investment for each port is decided.

• Journal of Korea Port Economic Association
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• v.21 no.1
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• pp.111-132
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• 2005

With the globalization of economy, there is keen competition among countries to be a logistics hub and companies are striving to be first in establishing logistics system centering on advantageous sites, especially airport and seaports, to perform supply, production and distribution. Korea competing with Northeast Asia countries is also working out strategies in order to make Korea penninsula a logistics center of Northeast Asia taking advantage of its geographical strength. Gwangyang port has designated as Free Economic Zone together with Pusan and Jinhae, Incheon from October 24th, 2003. However, the introduction of Free Economic Zone in Korea lagged behind other major countries and it has a lot of operational problems. Approximately 600 areas worldwide are designated and operated as a Free Economic Zone and Gwangyang port and its surrounding area has several points to be settled as one of FEZ. First one is its limited functions and related laws on Gwangyang Bay. Next is imperfection on development, investment and management system of the FEZ. Lack of promotion activities could be one of the problems. If we want to activate the FEZ, we must induce investment at Gwangyang Bay. This paper analyzes the above problems and presents various measures to activate Gwangyang Free Economic Zone by inducing investment for innovation cluster as follows Benchmarking to promote Gwangyang Free Economic Zone as follows Benchmarking other countries' system, governmental support, introduction & logistics functions, early development of the hinterland, supply ofeffective one-stop service, investment attraction into the area and diversified promotion & marketing activities.