• Journal of Korea Port Economic Association
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• v.38 no.1
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• pp.113-127
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• 2022

The purpose of this study is to analyze the efficiency of 90 domestic passenger shipping routes using the DEA Window model as a Decision Making Unit (DMU). Data from 2015 to 2019 are divided into three windows, and efficiency was analyzed by using the number of passenger ships of sails, gross tonnage and distance traveled as input variables and transportation performance of the general public and islanders as output variables. As a result of the analysis, improvements are derived and presented for routes with low relative efficiency. In particular, the efficiency is evaluated for general routes operated by private operators as profit routes and auxiliary routes supported by the government as non-profit routes. In addition, scale efficiency (SE) is derived by using the technical efficiency (TE) of the CCR model and the pure technical efficiency (PTE) values of the BCC model. It is found that the inefficiency of the route was due to pure technical efficiency (PTE) rather than scale efficiency (SE). It will be necessary to consider the improvements for each route shown in the analysis results of this study when establishing the policy for the domestic passenger shipping route.

• The Korean Journal of Financial Management
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• v.27 no.1
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• pp.63-87
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• 2010

This paper empirically examines whether ownership disperses when a venture firm its IPO (initial public offerings). The data for this study were collected from 91 firms that were initially listed on KOSDAQ between January 1, 2004 and December 31, 2007. We explored the influence of the underpricing of IPO on the change of large shareholders. The first finding of this investigation is that the number of shareholders of the venture firms who underpriced IPOs still increased after the closing of lockup. This is consistent with the findings of Booth and Chua(1996) and Brennan and Franks(1997). Second, the share of the large stockholders of the venture firms that a venture capital company invested decreased significantly after the end of lockup. Third, the venture businesses with higher ratio of flotation showed a significant decreasing of shareholders after the closing of lockup.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.76
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• pp.49-76
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• 2017

Lex arbitri, a law that regulates arbitration procedures at arbitral seat, can be viewed as an additional procedural law. In addition, the lex arbitri refers to mandatory provision imposed by each country on arbitrators in their own territory. The reason is that the lex arbitri often relates to matters of public policy of the place of arbitration. In Korea, the LMAA terms is frequently mentioned in the shipping industry in Korea, and the LMAA terms clause is often set up in the contract between Korean companies. However, the study of the UK Arbitration Act 1996, which regulates the LMAA arbitration, is not so much in Korea. On the other hand, Lex Arbitri, a corporation that regulates mediation procedures in arbitration, can be viewed as an additional procedure. There may also be procedures that must be followed compulsorily by the Arbitration Act of Arbitration. The reason is that Lex Arbitri seems to be related to the public policy of the arbitration. Therefore, the arbitration law of the country of arbitration seat may be the most important regulations in relation to the legality of the arbitration procedure. If the proceedings of the arbitration violate the Lex Arbitri, the arbitral award may be nullified. The purpose of this study is to analyze the arbitration theory, international arbitration and Lex Arbitri, focusing on the UK Arbitration Act 1996.

• Strategy21
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• s.36
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• pp.150-179
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• 2015

This thesis analyzes Somali piracy as a non-traditional threat to the Sea Lines of Communication (SLOC) and international countermeasures to the piracy. In an era of globally interdependent economies, the protection of sea lines and freedom of navigation are prerequisites for the development of states. Since the post-Cold War began in the early 1990s, ocean piracy has emerged as a significant threat to international trade. For instance, in the Malacca Strait which carries 30 percent of the world's trade volume, losses from failed shipping, insurance, plus other subsequent damages were enormous. Until the mid-2000s, navies and coast guards from Malaysia, Indonesia, Singapore, together with the International Maritime Organization (IMO), conducted anti-piracy operations in the Strait of Malacca. The combined efforts of these three maritime states, through information sharing and with reinforced assets including warships and patrol aircrafts, have successfully made a dent to lower incidents of piracy. Likewise, the United Nations' authorization of multinational forces to operate in Somali waters has pushed interdiction efforts including patrol and escort flotilla support. This along with self-reinforced security measures has successfully helped lower piracy from 75 incidents in 2012 to 15 in 2013. As illustrated, Somali piracy is a direct security threat to the international community and the SLOC which calls for global peacekeeping as a countermeasure. Reconstructing the economy and society to support public safety and stability should be the priority solution. Emphasis should be placed on restoring public peace and jurisdiction for control of piracy as a primary countermeasure.

• Journal of Korean Society for Quality Management
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• v.42 no.3
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• pp.425-444
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• 2014

Purpose: This study aims to overcome the problem of private education market environment which is polarized into commercialized large private education institutions and small and medium sized private education institutions in a poor business environment, and develop systematic performance measurement model applicable for small and medium sized private education institutions. Methods: To develop the BSC which measures financial and non-financial indicator in a balanced manner and introduce the BSC into private education institutions that contain conflicting goals "EDUCATION" and "PROFIT". In particular, Utilizing the methodology of AHP, the priority of strategies and execution assignments are derived. Results: BSC model was developed and introduced by cooperating with executives of the private education institution. Moreover, the study permits to achieve the strategy, enterprise-wide vision and mission by deriving strategy map and applying it to the private education institution. To measure the performance of BSC model instruction, KPI corresponding to the strategic objectives of each perspective was derived. Conclusion: BSC model generally introduces to large-sized companies and public institutions. In this study, BSC model is developed by focusing on small and medium sized private institution. Furthermore, this study is more than simple model development, it makes a connection with achievement of strategic objectives, enterprise-wide vision and mission through strategy map and strategy execution method. Through the developed BSC model and strategy execution method, utilization plan in practice and customized model for private education institutions coexisting profit and non-profit objectives were developed, and academic implications were presented.

• Journal of the Korean Society of Marine Environment & Safety
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• v.22 no.4
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• pp.319-327
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• 2016

Whereas shipping and Ship-building industries of Korea have been under the direct influence of International Maritime Organization (IMO) conventions and resolutions that aim at maritime safety and the protection of marine environment, it is needed that a specialized institute for dealing with IMO Agenda be established by industry-academy-government collaboration. Accordingly, this study proposes the establishment of a specialized institute to manage the IMO Agenda. To this end, integrating the existing bodies and their functions into a specialized institute, namely, the International Maritime Cooperation Center, is suggested. This center, composed of 40 researchers and operated by the Korea Maritime Institute, could assume this role. This study proceeds by building an estimate of the operational cost of the institute and exploring practical ways to finance it through the private and public sectors, also considering revisions to the Maritime Safety Act to ensure continuous operation of the new institute.

• Journal of Korean Port Research
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• v.9 no.2
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• pp.9-24
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• 1995

The intensification of the competition among container terminals has led to important affect such as, decision making or aggressive intervention of customers for terminal operation. Therefore, in case of developed ports, the large transition of port operation is composed of the press of terminal customer than decision making of terminal manager. Overall port tariffs for using terminal is made out by the conference of terminal customers than the supreme headquarters of terminal operation, and the related investment of terminal has been made according to requisition or proposal of customers. Therefore, among decision making problems that shippers, shipping companies, and freight forwarder among decision making problems that shippers, shipping companies, and freight forwarder face, the choice of the container terminal is one of the most important problems. So, the decision making of the users seems to have a significant impact on the competitive power of container terminals. The main objective of this study is to design port marketing strategy for strengthening the competitive power of container terminals. The results of this study were found as follows: Firstly, port authority should establish user-oriented operation policy of terminal as the means of activating the opinion window, using terminal monitoring system(TMS). Secondly, terminal planning and development of government should be made to minimize the lead time, to induce the civil capital and to utilize the economies of scale. Thirdly, port authority needs to endeavor to analyze the information of competing foreign terminals as well to promote the concentrated marketing for the terminal on the users, to train the expert and to develop the new port charge system. Fourthly, to improve the competitive power of the container terminal, Port Authority should optimize the subsystems related to port marketing, far more these systems should be joined organically to work effectively. Finally, port authority system should be introduced, Namely, port should have the enterprise inclination as well s the public inclination.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.48
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• pp.27-56
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• 2010

Pollution emissions from international shipping and port activities have a significant impact on public health and global climate changes. The purpose of this paper is to review the status of pollution mitigation measures implemented to date in port industry and find out some implications for Korean ports. For this aim, the clean air strategies of the world major ports including six USA ports (Los Angeles/Long Beach, Now York/New Jersey, and Seattle and Tacoma), two European ports (Rotterdam and Gothenburg) and Busan Port were considered. Various measures to reduce emission from ports are evaluated by sectors-ocean going vessels, cargo handling equipments, truck and rail-, on the basis of categories such as reduction control technologies, operational changes and market-based measures. The policy implications of this paper are as follows. First, Clean Air Act Plans of Korean ports are required as soon as possible. Second, integrated approach is required to reduce emission effectively. Finally, the effect of port-related emission reduction can be maximized when various measures are conducted on a regional basis including neighboring ports. Furthermore, regional or global-based approach is useful to guarantee the level playing field among ports.

• Journal of Navigation and Port Research
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• v.44 no.4
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• pp.347-353
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• 2020

Aids to Navigation (AtoN) contribute to preventing marine accidents and protecting marine environment by providing various information such as location information etc. to ships. Recognizing the importance of the AtoN, a 24 won of the AtoN service fee is charged for ships entering and leaving international trade ports. However, while the 24 won of the AtoN service fee has been maintained since its establishment in 1999, the demand for new roles of the AtoN service for autonomous shipping and smart port operations, etc. has gradually increasing with the change of shipping and port 4.0. Thus the purpose of this study was to estimate the appropriate level of the AtoN service fee in accordance with such changes in the shipping and port industries. To accomplish this, a method of recovering the total cost was introduced to the PROOF (Pyeongtaek Regional Office of Ocean and Fisheries). It is estimated that there are four cases in which estimation of the AtoN service fee is estimated in two cases year by year and conversion year, the AtoNs of PROOF are classified into the all and part of a ship using the trade port. As a result of the estimation, the AtoN service fee of PROOF is estimated at 53.78-71.62 won (as of 2019), and 29.78-47.62 won is higher than the today at 24 won. The results of this study can be used as useful basic data for the operation of budgets and policy management considering the role of the AtoN.

• Korean Institute of Interior Design Journal
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• no.26
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• pp.26-34
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• 2001

The problems with the small exhibition buildings such a small gallery and art center recently constructed did not make the characteristics of the place specifying and did not form a big flow in the line of urban connection. Also it was deficient in the image like a cultural space because of the commercial aspects of the individual buildings. According to this view, this study is to evaluate the exteriors of the small exhibition buildings that the public prefers on the psychological side as a design theory and then, it is to present the direction of desirable form constitution hereafter. In the design of the small exhibition buildings exterior that the public must prefers, the principles and techniques of constitution that operate are the most initiative as follows. As for the principles of unity in the constitution of the small exhibition buildings exterior that the public prefers, Eigen Value is 7.573 and the explanatory force takes 21.637% at the top and it plays a leading role. In the comparison of the appearance, it shows that it is a factor with the largest specific gravity. The next factors were grouped in good order: the balance, ornamental technique, change, shipping technique, rhythm, harmony, symbolic technique, area technique and adding technique. As a result, in the design of the small exhibition buildings exterior, the architects have to constitute the principles of balance, change, rhythm and harmony by most of the unity and the symbolic technique and form technique by most of the ornamental techniques harmoniously and have to give Identity like exhibition buildings.