• Journal of Navigation and Port Research
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• v.30 no.1 s.107
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• pp.17-22
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• 2006

Recently, the demand for LNG(Liquefied Natural Gas) increases in our country and all over the world as well as building order for LNGC Because LNG is very dangerous cargo, the special know-how and attention for cargo handling to prevent an accident is required and big demand for deck officers in future is expected Thus, more specific and systematic education and training program by means of investigating the status of national LNGC officer's education and training. To accomplish this, IMO regulation and LNGC education program for Korea Institute of Maritime and Fisheries Technology, national shipping companies and Japanese T company were analyzed.

• Journal of Navigation and Port Research
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• v.32 no.3
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• pp.185-192
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• 2008

This paper firstly aims to classify the applicability of the Balanced Scorecard approach to Korean ocean-going shipping firms' management system. The applicability of this approach from Korean shipping firms using Balanced Scorecard will create more effective and efficient organizational performance with reflecting non-financial indexes and making a balance among missions in organization. Secondly, the paper suggests positive information and theoretical evidences to improve Korean shipping firms' management system with examining an availability of the Balanced Scorecard as one method of management tools. So these factors are analysed by structural equation model. This study provides CEO in Korean ocean-going shipping firm the guideline and availability of the Balanced Scorecard as to what kinds of factors should be considered and what is the most critical factor to adopt the BSC into their business.

• Journal of Korea Port Economic Association
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• v.25 no.4
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• pp.299-320
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• 2009

This paper firstly aims to classifying the applicability of the Balanced Scorecard approach to Korean ocean-going shipping firms' management system. The applicability of this approach is from Korean shipping firms using Balanced Scorecard will create more effective and efficient organizational performance with reflecting non-financial indexes and making a balance among missions in organization. Secondly, the paper suggests positive information and theoretical evidences to improve Korean shipping firms' management system examines an availability of the Balanced Scorecard as one method of management tools. So these factors are analysed by structural equation model. This study provides CEO in Korean ocean-going shipping firm the guideline and availability of the Balanced Scorecard as to what kinds of factors should be considered and what is the most critical factor to adopt the BSC into their business.

• Journal of the Korean Society of Marine Environment & Safety
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• v.19 no.6
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• pp.629-636
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• 2013

There is no safety evaluation index with marine accidents and information of ship's safety management result for good grasp of safety management level of shipping company and effective monitoring. In this paper, we proposed a SMEI(Safety Management Evaluation Index) for evaluation of shipping companies. The SMEI is consist of MAR(marine accidents ratio), SSMR(ship safety management ratio) and SAP(safety advantage point) through brainstorming of the expert group and AHP(analysis hierarchy process)in previous study. And weights of SMEI are calculated using experts's opinions through the Delphi method. We also verified the validity of proposed SMEI to 119 Korean shipping companies with 916 ocean-going ships of Korean flag, which grouped three part (small, mid and big) by number of ship and gross tonnage. And we found out 19 shipping companies, 8 companies in group1 & group2 respectively and 3 companies in group 3, with score below 1.0 by SMEI. In these companies, there are no marine accidents in recent 3 years and appeared low frequency remarkably in the detention and mojor non-conformity by data analysis.

• Journal of Navigation and Port Research
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• v.30 no.3 s.109
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• pp.227-233
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• 2006

As North-east Chinese parts including Shanghai port grow rapidly, competition among the Far-East parts to be a hub port is getting higher, somebody has even raised a crisis of Busan port. However there are same constraints an the North-east parts such as weather aggravation and long distance from main truck routes. When we consider the competitiveness of port, weather aggravation should be considered as one of the significant factors. But previous studies have rarely examined these kinds of external factors of port operation Therefore, this study analyze constraints an the North-east Chinese parts through a survey of same national flag shipping companies and agencies of foreign shipping companies. The result shows that the mast significant constraint in the North-east ports is weather aggravation which causes problems for regular schedules of shipping, operation cast and customer service qualities etc.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.17 no.5
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• pp.100-116
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• 2018

Recently, with the US protection trade trend, South Korea 's exports to the US have shrunk and the need to pioneer emerging markets in Eurasia has increased. Due to the bankruptcy of Hanjin Shipping, a large Korean national shipping company, the necessity of securing transportation that can replace the Asian - European shipping route has emerged. Moreover, as the international trade and logistics environment is rapidly changing due to the spread of electronic commerce, it is time to prepare for the environment where IT technology is applied to international logistics activities. Therefore, this study was carried out to establish information strategy of Eurasia logistics information sharing platform from Korean perspective through comparison of logistics information level of Eurasian countries. This study aims at standardization direction for supporting logistics activities between Eurasian countries, providing customs clearance and logistics services without interruption, providing information for expanding business of trade companies, and building information linkage infrastructure for expanding cooperation between logistics companies across countries. Through this study, it is expected that logistics activities through information sharing among countries will be actively carried out.

• Journal of Korea Port Economic Association
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• v.32 no.2
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• pp.123-135
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• 2016

This study uses Data Envelopment Analysis(DEA) to investigate the management efficiency of Korean shipping companies based on business administration costs such as corporate entertainment, advertisement, and labor costs. We analyze shipping enterprises listed on the Korean stock market of the period of 2010-2014. Corporate entertainment, advertisement and labor costs are used as input variables and sales and net income are used as output variables. We use technical efficiency, pure technical efficiency, scale efficiency and returns to scale to propose a plan to improve the efficiency of inefficiency decision-making units (DMUs). The results of the efficiency analysis show that six of the DMUs in the technical efficiency of CCR model and eight of the DMUs in the pure technical efficiency of BCC model are in efficient state. In terms of return to scale, six of the DMUs(24% of all DMUs) show increasing returns to scale, while 13 DMUs(52% of all DMUs) showdecreasing returns to scale. Because multiple efficient state for DMUs exist in the technical efficiency analysis, we conduct a super efficiency analysis. The results show that the efficient state of the twomost efficient DMUs are 1.314 and 1.243, respectively. This implies that these DMUs could maintain their current levels of the efficiency if they increase the amount spent on advertisements, corporate entertainment and labor costs by 31.4% and 24.3%. respectively. We conclude this study by providing the efficiency states of each DMU and target for improving the inefficiencies in each case.

• Journal of Korea Port Economic Association
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• v.30 no.2
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• pp.1-23
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• 2014

Although 'the International Ship Registration Act' has been enacted in Korea as of 1997, its effect is still in question to make shipowners and operators flag in or reflag because of insufficient incentives for them. Therefore, 'the Special Law for Jeju Free International City' has been established and the system of 'Special Ship Registration Zone' has also been enforced. Despite this, few studies were carried out to measure the relative importance of factors for Jeju International Ship Register yet. Against this backdrop, the purposes of this study are firstly, to investigate a relative importance of Jeju International Ship Registration System using AHP(Analytic Hierarchy Process) and secondly, to compare the characteristics of Flags of Convenience(FOC) with International Ship Register(ISR) which was adopted by several Far East Asia Countries(e.g., China, Hong Kong, Chinese Taipei and Japan). Moreover, this study aims to compare FOC with ISR in terms of shipping policy, ship management, and expenses and tax policy. In this paper, the factors were constructed with four high levels consisting of twenty one low levels to evaluate Jeju International Ship Register by utilizing Expert's brainstorming and AHP. According to the results, it is critical to expand the exemption and tax-related expenses, and also manage foreign-related systems systemically. This study provides important implications to maintain the tonnage tax system for ships effectively as well as to intensify the competitiveness of Jeju International Ship Register System.

• Journal of Korea Port Economic Association
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• v.30 no.4
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• pp.131-149
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• 2014

The objective of this study is to describe and determine how and to what extent size of firm, operating vessels and interest cost, leverage, debit maturity, growth opportunity and cash flow affect the cash holdings of Korean shipping companies. A sample of 38 Korean shipping firms for a period of 9 years(from 2005 to 2013) was selected. In panel data regression, this study finds that cash holdings are negatively affected by firm size, operating vessel size and debit maturity, and positively affected by volume of interest costs. In firm's group of relatively large volume of operating vessel, it's cash holdings are affected by debit maturity, cash flows and growth opportunity but in firm's group of small volume of it, interest cost, debit maturity and operating vessel's size are related with cash holdings. It proved that determinants of cash holdings in a high interest costing group are size of operating vessel, interest cost and debt maturity. On the other hand, debit maturity, growth opportunity, firm size and extent volume of vessels are associated with cash holdings in relatively row interest costing group.

• Journal of Navigation and Port Research
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• v.43 no.4
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• pp.264-272
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• 2019

In this study, the rate of return on investment used as a proxy variable for the entity's value and financial structure (liability ratio) is related to positive balance. This is consistent with the Static Tradeoff Theory (STT) that the entity's value and financial structure are related to a positive balance because the capital expense of a debt (tax-saving effects) that is less than its equity cost before it is in financial difficulty. Also, operating profitability (EBITDA/Sales), investment safety, total asset growth, net working capital and depreciation expenses are related to negative (-) with financial structure (liability ratio). This is the result of an analysis consistent with the Pecking Order Theory (POT). Fuel costs, borrowing, total asset turnover, financial costs, and tangible asset ratios have a significant positive relationship with the debt ratio. This is consistent with the agency theory and confirms that excessive chartering expenses, such as the bankrupt H company, are the main factors that pressure the financial structure of Korean ocean carriers.