• Asia-Pacific Journal of Business
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• v.9 no.3
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• pp.101-115
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• 2018

The purpose of this study is to examine the growth status and future prospects of the shipping industry over the past decade through a review of the statistical database and related literature. We classify the shipping industry and survey a number of companies, number of employees, sales trends and shipping logistics market outlook, port cargo volume, and container throughput trends with regard to the sea cargo shipping business, freezing cold warehousing business, harbor cargo unloading business, and international freight forwarding business. We will also look at the overall trends, scale, cargo volume, and harbor automation status of the global shipping market.

• Journal of Korea Trade
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• v.27 no.1
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• pp.79-100
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• 2023

Purpose - The purpose of this study is to analyze the market power of the Korea Container Shipping Market (Intra Asia, Korea-Europe, and Korea-U.S.) to verify the existence of collusion empirically, and to answer whether the joint actions of liner market participants in Korea have formed market dominance for each route. Precisely, it will be verified through the Lerner index as to whether the regional market of Asia is a monopoly, oligopoly, or perfect competition. Design/methodology - This study used a Lerner index adjusted with elasticity presented in the New Imperial Organization (NEIO) studies. NEIO refers to a series of empirical studies that estimate parameters to judge market power from industrial data. This study uses B-L empirical models by Bresnahan (1982) and Lau (1982). In addition, NEIO research data statistically contain self-regression and stability problems as price and time series data. A dynamic model following Steen and Salvanes' Error Correction Model was used to solve this problem. Findings - The empirical results are as follows. First, λ, representing market power, is nearly zero in all three markets. Second, the Korean shipping market shows low demand elasticity on average. Nevertheless, the markup is low, a characteristic that is difficult to see in other industries. Third, the Korean shipping market generally remains close to perfect competition from 2014 to 2022, but extreme market power appears in a specific period, such as COVID-19. Fourth, there was no market power in the Intra Asia market from 2008 to 2014. Originality/value - Doubts about perfect competition in the liner market continued, but there were few empirical cases. This paper confirmed that the Korea liner market is a perfect competition market. This paper is the first to implement dynamics using ECM and recursive regression to demonstrate market power in the Korean liner market by dividing the shipping market into Deep Sea and Intra Asia separately. It is also the first to prove the most controversial problems in the current shipping industry numerically and academically.

• Journal of Korea Port Economic Association
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• v.39 no.4
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• pp.83-96
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• 2023

As the globalization of the world economy progresses, the role and importance of shipping and ports continue to increase, and these industries have been developed as core national industries that create diverse added value on the front lines of import and export. However, the bankruptcy of Hanjin Shipping Co., Ltd., which representedSouth Korea, hadan impact on of the nation's competitiveness, and its aftermath has been reported both directly and indirectly until recently. Therefore, this study statistically investigated how Hanjin Shipping Crisisaffected the container traffic volume and structural changes at Gwangyang Port using intervention analysis. The main results of this research are that the impact on the decline in container volume at Gwangyang Port was greater at the start of the voluntary arrangement (Apr., 2016) than at the bankruptcy of Hanjin Shipping (Feb., 2017), resulting in a decrease of 983,000 TEU (268,000 TEU per year). This study will remind us of the importance of the shipping industry and shipping policy, and provide a theoretical foundation that will help the government make more prudent and correct policy decisions.

• Journal of Korea Port Economic Association
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• v.35 no.3
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• pp.61-72
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• 2019

In order to enhance the competitiveness of the container shipping industry and promote its development, based on the empirical analyses using multivariate time series models, this study aims to suggest a few strategies related to the dynamics of the container shipping market. It uses the vector autoregressive (VAR) and vector error correction (VEC) models as analytical methodologies. Additionally, it uses the annual trade volumes, fleets, and freight rates as the dataset. According to the empirical results, we can infer that the most exogenous variable, the trade volume, exerted the highest influence on the total dynamics of the container shipping market. Based on these empirical results, this study suggests some implications for ship investment, freight rate forecasting, and the strategies of shipping firms. Concerning ship investment, since the exogenous trade volume variable contributes most to the uncertainty of freight rates, corporate finance can be considered more appropriate for container ship investment than project finance. Concerning the freight rate forecasting, the VAR and VEC models use the past information and the cointegrating regression model assumes future information, and hence the former models are found better than the latter model. Finally, concerning the strategies of shipping firms, this study recommends the use of cycle-linked repayment scheme and services contract.

• Journal of Navigation and Port Research
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• v.27 no.3
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• pp.297-306
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• 2003

As the competition in the liner shipping industry is becoming fiercer, the shipping company is trying to find the way to keep the best competitive position by reducing the cost level as low as possible and offering the best quality of service to their customer. In order to achieve this goal, the selection of port and terminal that have the best quality of service and cost effective structure is essential for the shipping line, where they can only have a chance to save the money. In this context, the paper compares three European container terminals in order to understand the factors that have to be considered in the decision making process for the selection of terminal. And its advantages and disadvantages of each type of container terminal operation system were analyzed from the liner shipping company's point of view in terms of cost, time, flexibility, stability, hinterland connection, geographical position and terminal productivity. It is obvious that the cost factors are very important for liner shipping company to select their terminal. However, there might be even more important factors than the cost factors, such as quality of port and terminal service, mutual trust, and possibility of future development.

• Journal of Korea Port Economic Association
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• v.26 no.4
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• pp.168-187
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• 2010

The mutual risk management in port is really important for operating the enterprise between container terminals who provide port service and shipping liners who use the port service. This study is performed to contribute to obtain the competitive power of domestic shipping and harbor industry by getting solution of mutual risk management which can make Win-Win strategy on each other as an alternative idea. We suggested two kinds of management models to promote common benefits between container terminals and shipping liners. It is necessary to push positive support and cooperation from government and belonging related organizations for activating the Gwangyang port. In this study, we presented the efficient method to manage mutual risks between container terminals and shipping liners.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2022.06a
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• pp.333-335
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• 2022

The changes caused by the 4th industrial revolution are accelerating the convergence of technologies due to the COVID-19 Pandemic. As a result, rapid changes are expected in various fields of society and industry. The shipping and logistics industry is also in urgent need of smartization due to changes in environment and technology. However, in the case of Korea, the smartization of shipping and logistics technology is insufficient compared to that of advanced countries. For smartization for complex business processing with many related entities, smooth communication and visual confirmation using the latest technologies are becoming important. Such visualization and communication will become more important in smart shipping and logistics This study intends to present an integrated communication tool between self-driving ships and container terminals for the realization of smart shipping and logistics. In particular, a study was conducted on the development of a digital twin-based communication tool that satisfies the requirements of ship berthing and loading/unloading operations in which various actors participate and process complex tasks.

• Journal of the Korean Institute of Navigation
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• v.17 no.2
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• pp.57-73
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• 1993

Subject : The Practical Use of UN Standard Message for cargo flow EDI Writer : Park, Nam Kyu and Lee, Tae Woo It's necessary to prepare standard message which is agreed on among trading partners for EDI in container transport industry. Now KMPA is carrying out the EDI Project for establishing Korea Logistics Network. It is important to make standard message of documents using in transport industry to succesfully accomodate EDI. The objective of this study is to find out the method of UN standard message utility in Korea. For this study, the UN message guideline is primarily reviewed, and the process that Shipping Request being used in Hanjin Shipping Co. Ltd. is applied to UNSMs as case study. Generally the data format of EDIFACT is so complex and broad for inter-industry standard that the abstract of data format is usually used. Therefore, it is necessary to make the subset of standard message for Shipping Request in ocean industry. In the result of this study, that the ocean industry can use the subset of IFTMBF for Shipping Request is proved, and the subset is suggested. This thesis will contribute toward showing the practical way of standardrization of 350 documents using in trade, customs and transport sectors.

• Journal of Navigation and Port Research
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• v.36 no.6
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• pp.527-534
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• 2012

In order to achieve sustainable growth and gain competitive advantages business performance should be monitored regularly by a company. In the port industry container terminal operators are facing growing competition. A large scale of new container terminals are constructed and the number of new container terminal operators are increasing. Container shipping lines are gaining bargaining power against terminal operators in terms of negotiating terminal usage. The competitive environments result in reduced cargo handling charges and poor financial performance of container terminal operators. It becomes very important to examine how efficiently container terminal operators are operating their terminals and how to improve their performance. This paper investigates the measurement efficiency for container terminal operators in Korea using Data envelopment analysis(DEA) of DEA-CCR and DEA-BCC Model. This paper finds out which container terminal operators are inefficient and how to improve their management efficiency.

• International Commerce and Information Review
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• v.8 no.2
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• pp.165-183
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• 2006

Sea transport industry is service industry and basic industry that permit efficient division of the human and material resources of industry. Also, owing to geographical situation which korea is having, utilization ratio of sea logistics industry is high than other transport ways. Sea transport industry chieves role that promote economy activity of other industry field as well as offer of transport way. Specially, because unit anger of freight by container is introduced, it was achived reduction of transport unit cost and mechanization of loading and unloading by this result. For efficeint connection of each other transport, contianer had offerd to large ship. Quality of service has much dimensions, and is considered while it is important that understand quality of service of sea transport industry through marketing and research of customer connection field because perceive of quality of serviceis different in shipowner/service viscount or shipper/freight owner. This research presented decision factors of sea transport quality of service which shipper and transport agent recognize under these background.