• Journal of Korea Port Economic Association
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• v.36 no.4
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• pp.93-106
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• 2020

Trade is an important economic activity. In particular, since the establishment of the World Trade Organization (WTO), the scope of trade has been expanding due to events such as the entry of China into the WTO in 2001, the establishment of a multilateral trading system, mitigation and integration of trade barriers, and the establishment of the free trade agreement (FTA). Despite the expansion of the trade market, however, extreme events such as the 2008 global financial crisis, the 2016 Brexit, and the 2018 US-China trade war have had a direct negative impact on the trade market. Therefore, the present this study analyzed the dependence structure between the international shipping freight rate index, a variable representing trade activities, and the trade uncertainty between the US and China. The following is a summary of the analysis results. First, the US-Chinese trade policy uncertainty and international shipping freight rate index presented a Frank copula and rotated Clayton copula 270° distribution, respectively, showing the same distribution structure for each country. Second, the Kendall's tau correlation revealed a negative dependence between the international shipping freight rate index and US-Chinese trade policy uncertainty. The degree of dependence was greater in the combination of uncertainty in China's trade policy and international shipping freight rates. In other words, the dependence of global demand and trade policy uncertainty confirmed that China was stronger than the US. Finally, the tail dependence results revealed that the US-Chinese trade policy uncertainty and international shipping freight rates were independent of each other. This means that extreme events related to the trade policy uncertainty or international shipping rate index were not affected by each other.

• Journal of Navigation and Port Research
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• v.34 no.3
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• pp.235-242
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• 2010

In recent years, the busan port is now facing a serious crisis. Exterally, though worldwide economics depression is a serious factor, cuttthroat competition between north port and new port since new port open lead to decrease terminal profitability and busan port image. The essential cause is crowed with terminal operators. therefore, This paper empirically analyze the container terminal integration factor solving busan port problem affecting the competitiveness performance. According to research results, integration between operators will be to acomplish global terminal, and so, contribute to increase service power, port productivity, cargoes and to be hub-port at the north-east asia. These results show political suggestions for importance of repid integration to improve busan port's competitiveness.

• Journal of Korea Port Economic Association
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• v.26 no.3
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• pp.165-174
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• 2010

DEA converts multiple inputs and outputs of a decision unit into a single measure of performance, generally mentioned as relative efficiency. DEA has been applied successfully as a performance evaluation tool in many fields including manufacturing, banks, pharmacies, and hospitals to name a few. This paper applies the input-oriented DEA model, DEA/Window analysis, and Malmquist indices to the 9 regions in Korea to measure the efficiency and productivity. The empirical results show the following findings. First, the super efficiency indicate that efficiency of Group 2 is greater than Group 1. Second, Malmquist indices show that productivity of Group 2 is less than Group 1. Third, DEA/Window of Group2 show that Chungnam is most stable, while Jeonnam is most unstable.

• Journal of Korea Port Economic Association
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• v.37 no.2
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• pp.119-131
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• 2021

Energy is an essential element in economic activity and people's lives, an important resource used by various industries, and the financialization of commodity markets has led to the growing importance of crude oil turning into the same asset as other assets. Accordingly, studies analyzing the correlation between energy prices and investor sentiment explain that investor sentiment affects oil prices through economic factors and speculation. In this study, we wanted to analyze whether the impact of the most representative changes in oil prices affects investor decision making, affecting investor sentiment, and applying wavelet consistency analysis to determine how energy prices relate to investor sentiment. Studies show that policies should be focused on policy and market changes because energy prices differ by time scale and investment sentiment should be more influential in the long term than in the short term.

• Environmental and Resource Economics Review
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• v.30 no.4
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• pp.581-605
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• 2021

The purpose of this study is to provide basic data for improving energy efficiency by estimating the regional energy efficiency in Korea using the stochastic frontier approach beyond the energy intensity that has been traditionally used as an indicator of energy efficiency. In this paper, energy efficiency and energy intensity efficiency were estimated as a stochastic distance function from 1998 to 2018 for 16 cities and provinces in Korea. In addition, the robustness of energy efficiency according to the capital stock estimation methods which had been mixed in previous studies was reviewed. As a result of the analysis, there is a significant change in regional rankings according to the three energy efficiency indicators, so they should be used complementary to each other. Second, while the energy efficiency improved little by little over time, the energy intensity efficiency decreased slightly though. Lastly, energy efficiency by region according to the capital stock estimation method was not robust. Care must be taken in estimating capital stock, which is important in economic analysis.

• Journal of Korea Port Economic Association
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• v.38 no.2
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• pp.49-67
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• 2022

This study applied the method of Diebold and Yilmaz (2012, 2014, 2016) to analyze the connectedness between the Freight Index (BDI, BDTI, BCTI), energy price(oil, natural gas, coal), and grain price(soybean, corn, wheat) from July 19, 2007 to March 31, 2022. The main analysis results of this paper are as follows. First, according to the network analysis results, the total connectedness was measured to be 20.43% for the entire analysis period, indicating that there was a low correlation between the freight index and the commodity price. In addition, looking at the directional results, the variable with the greatest effects was corn, and conversely, the variable with the lowest effects BDI. When classified by events, BCTI was found to play a major role only during the COVID-19 period. Second, according to the results of the rolling-sample analysis, the total connectedness be found to be highly correlated with changes in economic conditions such as the financial crisis, trade war, and COVID-19 when specific events occurred.

• 주택과사람들
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• s.104
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• pp.177-204
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• 1999

본 논문은 통계적 기법을 사용하여 이주시 아파트를 주택유형으로 선택하는 입주자의 사회$\cdot$경제적 특성을 실증적으로 분석하고자 한다. 이를 위하여 아파트를 선택하는 주민의 인구사회적, 경제적 특성을 분석하는 한편 주거상태와 향후 희망하는 주거상태가 아파트 선택에 영향을 미치는 요인은 무엇인가를 로짓모형을 통해 밝히는데 목적을 두고 있다. 부산시의 주민 2000가구의 설문조사결과를 통해 향후 아파트로 이주하고자 희망하는 주민의 특성 및 현 주거와 향후 주거선호와 관련된 사항을 분석한다. 연구결과 가구의 아파트를 선택하는데 있어서 그 가구의 현주거상태와 희망하는 주거수준, 그리고 가구의 사회$\cdot$경제적 특성이 작용하는데 현주택상황과 관련하여서는 현 주택규모가 클수록 아파트를 선택하는 경향이 있으며, 희망하는 주거수준과 관련해서는 희망하는 주택의 방수가 적을수록 아파트를 선택하는 것으로 분석되었다. 가구의 사회$\cdot$경제적 특성 중에서는 배우자의 학력이 높을수록 아파트를 선택하는 경향이 높게 나타났으며, 이 변수는 어떠한 독립변수보다 아파트 선택에 강하게 작용하는 경향이 높게 나타났으며, 이 변수는 어떠한 독립변수보다 아파트 선택에 강하게 작용한다. 이밖에 가구의 월평균소득과 월평균 저축도 아파트를 선택하는데 영향을 미치는 것으로 분석되었다.

• Journal of the Korean Society of Marine Environment & Safety
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• v.16 no.1
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• pp.115-123
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• 2010

The purpose of this study was to examine the effect of Busan Ocean Industry Expo on ocean related industries and Busan regional economy. The study analyzed the effects of the various projects related to Busan Ocean Industry Expo and answered the question of how to link the effects to development of ocean related industries as well as the economic activation of Busan area. To attain this goal, first of all, this study attempted to analyze status of ocean related industries, characteristics of existing exposition and opinion of enterprises. To maximize the above positive effects of Busan Ocean Industry Expo, several strategic alternatives were suggested.

• Journal of Korea Port Economic Association
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• v.24 no.2
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• pp.131-154
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• 2008

The purpose of this paper is to verify the financial validity of dredging the port of Busan with the change of global port logistics circumstances. In order to do so, NPV, IRR, B/C ratio, DPP techniques are adopted. The whole dredging at Northern port area is supposed to be negative at the depth of 16m water. Based upon its financial validity, however, the priority is Shinsundae (option 1) followed by Shinsundae (option 1) and Gamman (option 1), Shinsundae (option 1) and Gamman (option 2), Shinsundae (option 2) and Gamman (option 2), Shinsundae (option 2) and Gamman (option 2) and ShinGamman in sequence. In addition to this, Busan New port is considered to be the positive financial validity at the dredging of 16m water depth. This is because the ultra containerships of over 8,000TEU are trying to call at the port and Hanjin shipping and Hyundai Merchant shipping companies which are now the most significant customers in Northern port are scheduled to divert it.

• Journal of Navigation and Port Research
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• v.42 no.6
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• pp.478-485
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• 2018

Aids to Navigation (AtoN) is one of the marine traffic safety facilities that promotes the safety of maritime traffic and enhance ship's operational efficiency. However, functional failure of AtoN due to ship's collision or bad weather conditions leads to inconvenience or navigational risk to various users such as the ship operators. For insstance, the largest container port in Korea, Busan Port has experienced a total of 400 AtoN accidents in the past 12 years (2006-2017).Therefore, an average of 20.6 days of recovery time is required, which increases the maritime safety anxiety for AtoN users. is the objective of this study was to present the quantitative support of the users for the prevention of AtoN accidents and the improvement of the feasibility of implementing more efficient management in Korea. A survey was conducted on the users of Busan port areas to investigate general perception of AtoN in general and the accidents that have happened, and to estimate the economic value of navigational risk reduction by implementing effective AtoN management measure. Using the representative non-market valuation method for environmental or public goods known as contingent valuation method (CVM), the economic value granted to users for the AtoN services in Busan port was estimated to at least 16 billion won. Therefore, these finding could be used by AtoN managers and/or policy makers as a valuable data to identify the users' need of various AtoN services including Busan Port and to establish and implement more efficient management plan.