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The Economic Cycle and Contributing Factors to the Operating Profit Ratio of Korean Liner Shipping (경기순환과 우리나라 정기선 해운의 영업이익률 변동 요인)

  • Mok, Ick-soo;Ryoo, Dong-keun
    • Journal of Navigation and Port Research
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    • v.46 no.4
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    • pp.375-384
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    • 2022
  • The shipping industry is cyclically impacted by complex variables such as various economic indicators, social events, and supply and demand. The purpose of this study was to analyze the operating profit of 13 Korean liner companies over 30 years, including the financial crisis of the late 1990s, the global financial crisis of the late 2000s, and the COVID-19 global pandemic. This study was conducted to also identify factors that impacted the profit ratio of Korea's liner shipping companies according to economic conditions. It was divided into ocean-going and short-sea shipping, reflecting the characteristics of liner shipping companies, and was analyzed by hierarchical multiple regression analysis. The time series data are based on the Korean International Financial Reporting Standards (K-IFRS) and comprise seaborne trade volume, fleet evolution, and macroeconomic indicators. The outliers representing the economic downturn due to social events were separately analyzed. As a result of the analysis, the China Container Freight Index (CCFI) positively impacted ocean-going as well as short-sea liner shipping companies. However, the Korean container shipping volume only impacted ocean-going liners positively. Additionally, world and Korea's GDP, world seaborne trade volume, and fuel price are factored in the operating profit of short sea liner shipping. Also, the GDP growth rate of China, exchange rate, and interest rate did not significantly impact both groups. Notably, the operating profitability of Korea's liner shipping shows an exceptionally high rate during the recessions of 1998 and 2020. It is paradoxical, and not correlated with the classical economic indicators. Unlike other studies, this paper focused on the operating profit before financial expenses, considering the complexity as well as difficulty in forecasting the shipping cycle, and rendered conclusions using relatively long-term empirical analysis, including three economic shocks.

A preliminary assessment of high-spatial-resolution satellite rainfall estimation from SAR Sentinel-1 over the central region of South Korea (한반도 중부지역에서의 SAR Sentinel-1 위성강우량 추정에 관한 예비평가)

  • Nguyen, Hoang Hai;Jung, Woosung;Lee, Dalgeun;Shin, Daeyun
    • Journal of Korea Water Resources Association
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    • v.55 no.6
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    • pp.393-404
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    • 2022
  • Reliable terrestrial rainfall observations from satellites at finer spatial resolution are essential for urban hydrological and microscale agricultural demands. Although various traditional "top-down" approach-based satellite rainfall products were widely used, they are limited in spatial resolution. This study aims to assess the potential of a novel "bottom-up" approach for rainfall estimation, the parameterized SM2RAIN model, applied to the C-band SAR Sentinel-1 satellite data (SM2RAIN-S1), to generate high-spatial-resolution terrestrial rainfall estimates (0.01° grid/6-day) over Central South Korea. Its performance was evaluated for both spatial and temporal variability using the respective rainfall data from a conventional reanalysis product and rain gauge network for a 1-year period over two different sub-regions in Central South Korea-the mixed forest-dominated, middle sub-region and cropland-dominated, west coast sub-region. Evaluation results indicated that the SM2RAIN-S1 product can capture general rainfall patterns in Central South Korea, and hold potential for high-spatial-resolution rainfall measurement over the local scale with different land covers, while less biased rainfall estimates against rain gauge observations were provided. Moreover, the SM2RAIN-S1 rainfall product was better in mixed forests considering the Pearson's correlation coefficient (R = 0.69), implying the suitability of 6-day SM2RAIN-S1 data in capturing the temporal dynamics of soil moisture and rainfall in mixed forests. However, in terms of RMSE and Bias, better performance was obtained with the SM2RAIN-S1 rainfall product over croplands rather than mixed forests, indicating that larger errors induced by high evapotranspiration losses (especially in mixed forests) need to be included in further improvement of the SM2RAIN.

The Economic Impact of the Korean Port Industry on the National Economy : from the Viewpoint of Macroeconomics (한국항만산업이 국가경제에 미치는 영향에 관한 분석 - 거시경제의 관점에서 -)

  • Moon, S.H.
    • Journal of Korean Port Research
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    • v.6 no.2
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    • pp.65-92
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    • 1992
  • The Korean central government has not appreciate the full extent of the impact of seaports on the national economy. As a consequence port investment has not been given sufficient priority and capacity has failed to keep pace with demand. The principal reason for this failure is the fact that the linkages (or relationships) of the port transport industry with other sectors have not been quantified and fully appreciated. To overcome this dificiency this paper developed a port input-output model to determine the economic impact of the port industry on the national economy. This impact study was conducted by analysing the impact of the Korean port industry upon the national economy from the macroeconomic viewpoint, and identifying the spreading effects of port investments upon the nation's economy. The analysis of the economic impact of the port industry suggests that its contribution to the Korean economy is substantial. What the model shows is, in quantifiable terms, there are the strong economic linkages between the port industry and the other sectors of the national economy. The contribution of the port industry to the Korean economy was summarised in the Conclusion section.

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Statistical Analysis on Non-Household Unit Water Use for Business Categories (비가정용수의 업종별 사용량 원단위 및 통계적 특성 분석)

  • Lee, Doojin;Kim, Juwhan;Kim, Hwasoo
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.29 no.4B
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    • pp.385-396
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    • 2009
  • Non-household unit water use for each type of business are estimated in this study. The business types are subdivided into forty based on nine categories by the national industrial standard classification, such as office, commerce, public bathing, public water use etc. Correlation analysis and analysis of variance (ANOVA) are applied to obtain statistical characteristics between industrial water use data, surveyed in six cities including Nonsan, Seosan and the National Statistical Bureau and site area, employees number etc. for each detailed business area. As the proposed non-household unit water uses are compared with five surveyed data in USA, it is shown that almost of water uses per unit area are less than those in USA. Non-household unit water uses of 25% cumulative probability water use recommended as efficiency benchmarks among surveyed data in Korea are also less than those in USA. Especially, in the case of water use in school, the average and the range are similar results showing water use range between 0.4 and 6.2 ($l/m^2/day$) as liter per capita day per an unit area, also water use range between 11.9 to 64.0 (l/student/day) as liter per capita day per a person. From the result of correlation analysis with internal and exogenous affecting factors on non-household water use, it can be concluded that a unit area is most appropriate factor as a standard of non-household unit water use. In case of water use in educational business, the number of students including staffs is more correlated than site ares with water use for the settled water consumption tendency. Although the increase and decrease of educational institutes, retail/wholesale store and restaurants are shown remarkable by the temperature as a representative factor, low correlations are shown in water use fluctuation in lodging house and hospital.

Lithium Distribution in Thermal Groundwater: A Study on Li Geochemistry in South Korean Deep Groundwater Environment (온천수 내 리튬 분포: 국내 심부 지하수환경의 리튬 지화학 연구)

  • Hyunsoo Seo;Jeong-Hwan Lee;SunJu Park;Junseop Oh;Jaehoon Choi;Jong-Tae Lee;Seong-Taek Yun
    • Economic and Environmental Geology
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    • v.56 no.6
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    • pp.729-744
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    • 2023
  • The value of lithium has significantly increased due to the rising demand for electric cars and batteries. Lithium is primarily found in pegmatites, hydrothermally altered tuffaceous clays, and continental brines. Globally, groundwater-fed salt lakes and oil field brines are attracting attention as major sources of lithium in continental brines, accounting for about 70% of global lithium production. Recently, deep groundwater, especially geothermal water, is also studied for a potential source of lithium. Lithium concentrations in deep groundwater can increase through substantial water-rock reaction and mixing with brines. For the exploration of lithim in deep groundwater, it is important to understand its origin and behavior. Therefore, based on a nationwide preliminary study on the hydrogeochemical characteristics and evolution of thermal groundwater in South Korea, this study aims to investigate the distribution of lithium in the deep groundwater environment and understand the geochemical factors that affect its concentration. A total of 555 thermal groundwater samples were classified into five hydrochemical types showing distinct hydrogeochemical evolution. To investigate the enrichment mechanism, samples (n = 56) with lithium concentrations exceeding the 90th percentile (0.94 mg/L) were studied in detail. Lithium concentrations varied depending upon the type, with Na(Ca)-Cl type being the highest, followed by Ca(Na)-SO4 type and low-pH Ca(Na)-HCO3 type. In the Ca(Na)-Cl type, lithium enrichment is due to reverse cation exchange due to seawater intrusion. The enrichment of dissolved lithium in the Ca(Na)-SO4 type groundwater occurring in Cretaceous volcanic sedimentary basins is related to the occurrence of hydrothermally altered clay minerals and volcanic activities, while enriched lithium in the low-pH Ca(Na)-HCO3 type groundwater is due to enhanced weathering of basement rocks by ascending deep CO2. This reconnaissance geochemical study provides valuable insights into hydrogeochemical evolution and economic lithium exploration in deep geologic environments.

Assessment of water supply reliability in the Geum River Basin using univariate climate response functions: a case study for changing instreamflow managements (단변량 기후반응함수를 이용한 금강수계 이수안전도 평가: 하천유지유량 관리 변화를 고려한 사례연구)

  • Kim, Daeha;Choi, Si Jung;Jang, Su Hyung;Kang, Dae Hu
    • Journal of Korea Water Resources Association
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    • v.56 no.12
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    • pp.993-1003
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    • 2023
  • Due to the increasing greenhouse gas emissions, the global mean temperature has risen by 1.1℃ compared to pre-industrial levels, and significant changes are expected in functioning of water supply systems. In this study, we assessed impacts of climate change and instreamflow management on water supply reliability in the Geum River basin, Korea. We proposed univariate climate response functions, where mean precipitation and potential evaporation were coupled as an explanatory variable, to assess impacts of climate stress on multiple water supply reliabilities. To this end, natural streamflows were generated in the 19 sub-basins with the conceptual GR6J model. Then, the simulated streamflows were input into the Water Evaluation And Planning (WEAP) model. The dynamic optimization by WEAP allowed us to assess water supply reliability against the 2020 water demand projections. Results showed that when minimizing the water shortage of the entire river basin under the 1991-2020 climate, water supply reliability was lowest in the Bocheongcheon among the sub-basins. In a scenario where the priority of instreamflow maintenance is adjusted to be the same as municipal and industrial water use, water supply reliability in the Bocheongcheon, Chogang, and Nonsancheon sub-basins significantly decreased. The stress tests with 325 sets of climate perturbations showed that water supply reliability in the three sub-basins considerably decreased under all the climate stresses, while the sub-basins connected to large infrastructures did not change significantly. When using the 2021-2050 climate projections with the stress test results, water supply reliability in the Geum River basin was expected to generally improve, but if the priority of instreamflow maintenance is increased, water shortage is expected to worsen in geographically isolated sub-basins. Here, we suggest that the climate response function can be established by a single explanatory variable to assess climate change impacts of many sub-basin's performance simultaneously.

The Effect on Air Transport Sector by Korea-China FTA and Aviation Policy Direction of Korea (한·중 FTA가 항공운송 부문에 미치는 영향과 우리나라 항공정책의 방향)

  • Lee, Kang-Bin
    • The Korean Journal of Air & Space Law and Policy
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    • v.32 no.1
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    • pp.83-138
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    • 2017
  • Korea-China FTA entered into force on the 20th of December 2015, and one year elapsed after its effectuation as the FTA with China, our country's largest trading partner. Therefore, this study looks at the trends of air transport trade between Korea and China, and examines the contents of concessions to the air transport services sector in Korea-China FTA, and analyzes the impact on the air transport sector by Korea-China FTA, and proposes our country's aviation policy direction in order to respond to such impact. In 2016 the trends of air transport trade between Korea and China are as follows : The export amount of air transport trade to China was 40.03 billion dollars, down by 9.3% from the last year, and occupied 32.2% of the total export amount to China. The import amount of air transport trade from China was 24.26 billion dollars, down by 9.1% from the last year, and occupied 27.7% of the total import amount from China. The contents of concessions to the air transport services sector in Korea-China FTA are as follows : China made concessions to the aircraft repair and maintenance services and the computer reservation system services with limitations on market access and national treatment in the air transport services sector of the China Schedule of Specific Commitments of Korea-China FTA Chapter 8 Annex. Korea made concessions to the computer reservation system services, selling and marketing of air transport services, and aircraft repair and maintenance without limitations on market access and national treatment in the air transport services sector of the Korea Schedule of Specific Commitments of Korea-China FTA Chapter 8 Annex. The impact on the air transport sector by Korea-China FTA are as follows : As for the impact on the air passenger market, in 2016 the arrival passengers of the international flight from China were 9.96 million, up by 20.6% from the last year, and the departure passengers to China were 9.90 million, up by 34.8% from the last year. As for the impact on the air cargo market, in 2016 the exported goods volumes of air cargo to China were 105,220.2 tons, up by 6.6% from the last year, and imported goods volumes from China were 133,750.9 tons, up by 12.3% from the last year. Among the major items of exported air cargo to China, the exported goods volumes of benefited items in the Tariff Schedule of China of Korea-China FTA were increased, and among the major items of imported air cargo from China, the imported goods volumes of benefited items in the Tariff Schedule of Korea of Korea-China FTA were increased. As for the impact on the logistics market, in 2016 the handling performance of exported air cargo to China by domestic forwarders were 119,618 tons, down by 2.1% from the last year, and the handling performance of imported air cargo from China were 79,430 tons, down by 4.4% from the last year. In 2016 the e-commerce export amount to China were 109.16 million dollars, up by 27.7% from the last year, and the e-commerce import amount from China were 89.43 million dollars, up by 72% from the last year. The author proposes the aviation policy direction of Korea according to Korea-China FTA as follows : First, the open skies between Korea and China shall be pushed ahead. In June 2006 Korea and China concluded the open skies agreement within the scope of the third freedom and fourth freedom of the air for passenger and cargo in Sandong Province and Hainan Province of China, and agreed the full open skies of flights between the two countries from the summer season in 2010. However, China protested against the interpretation of the draft of the memorandum of understanding to the air services agreement, therefore the further open skies did not take place. Through the separate aviation talks with China from Korea-China FTA, the gradual and selective open skies of air passenger market and air cargo market shall be pushed ahead. Second, the competitiveness of air transport industry and airport shall be secured. As for the strengthening methods of the competitiveness of Korea's air transport industry, the support system for the strengthening of national air carriers' competitiveness shall be prepared, and the new basis for competition of national air carriers shall be made, and the strategic network based on national interest shall be built. As for the strengthening methods of the competitiveness of Korea's airports, particularly Incheon Airport, the competitiveness of the network for aviation demand creation shall be strengthened, and the airport facilities and safety infrastructure shall be expanded, and the new added value through the airport shall be created, and the world's No.1 level of services shall be maintained. Third, the competitiveness of aviation logistics enterprises shall be strengthened. As for the strengthening methods of the competitiveness of Korea's aviation logistics enterprises, as the upbringing strategy of higher added value in response to the industry trends changes, the new logistics market shall be developed, and the logistics infrastructure shall be expanded, and the logistics professionals shall be trained. Additionally, as the expanding strategy of global logistics market, the support system for overseas investment of logistics enterprises shall be built, and according to expanding the global transport network, the international cooperation shall be strengthened, and the network infrastructure shall be secured. As for the strengthening methods of aviation logistics competitiveness of Incheon Airport, the enterprises' demand of moving in the logistics complex shall be responded, and the comparative advantage in the field of new growth cargo shall be preoccupied, and the logistics hub's capability shall be strengthened, and the competitiveness of cargo processing speed in the airport shall be advanced. Forth, in the subsequent negotiation of Korea-China FTA, the further opening of air transport services sector shall be secured. In the subsequent negotiation being initiated within two years after entry into force of Korea-China FTA, it is necessary to ask for the further opening of the concessions of computer reservation system services, and aircraft repair and maintenance services in which the concessions level of air transport services sector by China is insufficient compared to the concessions level in the existing FTA concluded by China. In conclusion, in order to respond to the impact on Korea's air passenger market, air cargo market and aviation logistics market by Korea-China FTA, the following policy tasks shall be pushed ahead : Taking into consideration of national air carriers' competitiveness and nation's benefits, the gradual and selective open skies shall be pushed ahead, and the support system to strengthen the competitiveness of air transport industry and airport shall be built, and entry into aviation logistics market by logistics enterprises shall be expanded, and the preparations to ask for the further opening of air transport services sector, low in the concessions level by China shall be made.

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The Analysis of Program Preferences for the Development of Forest Therapy Program (산림치유 프로그램 개발을 위한 프로그램 선호도 분석)

  • Kim, Youn-Hee
    • Korean Journal of Environment and Ecology
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    • v.30 no.1
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    • pp.118-129
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    • 2016
  • The purpose of this study was to offer the preliminary data for the development of forest therapy program. This exploratory study is about the development of forest healing program by identifying what is the forest healing program preferences of potential consumers and would be an important basis for the operation. The survey of interests and needs of 620 people on the forest therapy was analyzed. Using SPSS 21.0 program, statistical analysis, frequency analysis, T-test, One-way ANOVA, we looked at the differences in forest healing program preferences according to gender, age, occupation. Forest therapy program preference was found to vary depending on sex, age and job. First, according to gender, men preferred athletic in the forest and camping compared to women, and women showed a higher preference than men in the overall program. Second, depending on age, as compared to other age, for 20s; stress assessment & diagnosis, cooking in the forest, photo therapy in the forest, for 30s; walking in the forest, counseling, listening to lectures(stress-related or interpersonal relationships-related), communication-related lectures and vision quest, for 40s; meditation, viewing the forest, forest bathing wind bathing sun bathing, walking on barefoot in the forest, for 50s; breathing breathing exercises, yoga, mountaineering, climbing in silence, eating wild food, respectively, each of those programs were especially favored. Third, the forest healing program preference in accordance with the job is as follows. For students; stress assessment & diagnosis, cooking in the forest, etc., for teachers; walking in the forest, mountaineering, reading in the forest, viewing the forest, forest bathing wind bathing sun bathing, camping etc., for housewives; yoga, listening to the sound of water flowing, drinking herbal tea, eating wild food, for specialist researcher; breathing breathing exercises, climbing in silence, meditation, sleeping in the forest, respectively, each of those programs were especially favored. We expect the results of this study to be utilized as basic data for the development of forest therapy program targeting on adults.

Application, Utilization and Management of Ozone Water in Food Manufacturing (식품 가공 공정에서의 오존수 관리 동향, 사용 실태 및 활용 방안)

  • Kim, Yong-Soo;Park, In-Sook;Kim, Ae-Young;Jeon, Kyoung-Min;Seo, Yu-Mi;Choi, Sung-Hee;Lee, Young-Ja;Choi, Hyoun-Chul;Jeon, Dae-Hoon;Kim, Hyoung-Il;Ha, Sang-Do
    • Journal of Food Hygiene and Safety
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    • v.23 no.2
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    • pp.98-107
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    • 2008
  • The ozone has the oxidizing power which is powerful the fluorine and the antimicrobial spectrum of wide scope. Researches were carried out to use the merits that ozone has in various fields including the food industry, and many studies are also conducted nowadays for more efficient use of ozone. The ozone was permitted legally as a food additive and was practically used in the United States, Australia, Japanese etc. In November 2007, ozone water was permitted as a food additive in Korea and the interest in the use of ozone water has been on the rise in the Korea's food industry. As a olisinfectant method, ozone has many advantages. The maintenance and management expenses of ozone are lower than the installation cost at early stages and no by-products are generated after use it compared to others. Recently the demand of ozone as a olisinfectant method is increasing drastically. Although ozone water is popularly used to sterilize raw foods like fruits, vegetables and meats, the cases are still limited and were verified by the survey results. However, the use of ozone water is gradually being increased and is focused on food services. Ozone water refers to a state where ozone is dissolved into water to more conveniently use ozone. Accordingly, ozone water should be managed in regards with the amount and time of water-dissolved ozone, and the control of discharged ozone concentration is required for safe use of ozone water. The items to control mentioned above are directly related to the performance of the devices, and therefore, it is required to newly establish the performance criteria of ozone water manufacturing devices.

Ecosystem Service Assessment of Urban Forest for Water Supply and Climate Mitigation of Seoul Metropolitan Area (환경공간정보를 이용한 수도권의 수자원 공급과 기후완화 기능을 위한 도시림의 생태계서비스 평가)

  • Lee, Soo Jeong;Yoo, Somin;Ham, Boyoung;Lim, Chul-Hee;Song, Cholho;Kim, Moonil;Kim, Sea Jin;Lee, Woo-Kyun
    • Korean Journal of Remote Sensing
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    • v.33 no.6_2
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    • pp.1119-1137
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    • 2017
  • This study assessed the water provisioning and climate mitigation ecosystem services of the urban forest in Seoul and Gyeonggi-do. The ecosystem service assessment is conducted based on natural function, natural function and population, and natural function and the beneficiary of the ecosystem service. Then, the impact of climate change on ecosystem services is analyzed to figure out the sensitivity of the impact on the beneficiary when the natural function of forest destroys under climate change. Gyeonggi-do has higher function-based water provisioning ecosystem service than Seoul. And population-based water provisioning ecosystem service appears to be higher in the densely populated area. On the other hand, beneficiary-based water provisioning ecosystem service by applying both natural water supply function and beneficiary distribution appears different with the result of population-based water provisioning service assessment. In other words, regions with high beneficiary population show higher ecosystem service than those with a low beneficiary population even though they have the same water storage function. In addition, climate change has a negative impact on the water provisioning ecosystem service. Under climate change, water provisioning service is expected to decrease by 26%. For climate mitigation service, regions close to the forest seem to have a low temperature, which indicates their high climate mitigation service. The center of the city with high beneficiary population shows high beneficiary-based ecosystem service. The climate change impacts the forest growth to decrease which affect the beneficiary-based climate mitigation ecosystem service to decrease by 33%. From this study, we conclude that beneficiary-based function and ecosystem service assessment is needed as well as the supply-based classification of forest function suggested by Korea Forest Service. In addition, we suggest that not only supply-based function classification and ecosystem service assessment but also beneficiary-based function classification and ecosystem service assessment is needed for managing the urban forest, which has been destroyed by climate change. This will contribute to revaluing cases where a forest with low natural function but high beneficiary-based ecosystem service, which is not considered under the current forest function-based assessment system. Moreover, this could assist in developing a suitable management plan for the urban forest.