• The Journal of Economics, Marketing and Management
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• v.12 no.5
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• pp.53-62
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• 2024

Purpose: As globalization continues to advance, China's trade cooperation with foreign countries has become increasingly close, and its outward-oriented economy has entered a rapid development stage. With the launch of the Belt and Road Initiative in 2013, favorable conditions for China's overseas direct investment have been created. This paper is based on the financial development in Belt and Road countries. Research design, data and methodology: Using panel data from 2006 to 2020 covering 64 countries along the Belt and Road, the paper classifies regions and compares regions with higher levels of financial development. It provides descriptive statistics and employs the Fixed Effects Model (FEM) for regression analysis to thoroughly study the factors affecting China's Foreign Direct Investment (FDI). Results: The research results indicate that the size, efficiency, and structure of financial development all have a significant positive impact on China's FDI. Conclusions: However, factors such as trade openness (OPEN) and per capita disposable income (LnAGDP) did not pass the significance test, possibly because the level of openness of a country for outward foreign direct investment is not a significant factor to consider. Finally, based on the empirical findings, a series of policy recommendations are proposed to enhance China's FDI levels.

• Journal of Advanced Marine Engineering and Technology
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• v.41 no.1
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• pp.8-14
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• 2017

Due to the financial crisis in 2008, the world economy collapsed leading to an increase in oil prices and a decrease in freight by shipping. To overcome this crisis, major shipping companies ordered larger ships, changed their trading route and improved operating of ships to overcome deficits. In particular, low-speed navigation was much favored by many companies so that it can reduce fuel consumption. However, the long-term operation of high-speed optimized engines in low-speeds has affected the jacket cooling fresh water (J.C.F.W.) system as they fail to maintain the normal operational temperature. The temperature of J.C.F.W. system dropped leading to low temperature corrosion. As a result, when the engine is operating at minimal load the functioning of existing J.C.F.W cooler is decreased and the use of fresh water generator is substantially limited. Therefore, an improvement in the functioning of J.C.F.W. system is necessary. In this paper, in order to review the improvements required for the operation of J.C.F.W. of low-speed operating marine diesel, an experiment was conducted by comparing and analyzing the results of the main engine J.C.F.W. system of a Panamax class bulk carrier 82k and a Cape class bulk carrier 180k by installing and uninstalling the J.C.F.W. Cooler. Thus, this paper proposed an improved design of the J.C.F.W. system that is suitable for the present low-speed operation.

• Journal of Korea Port Economic Association
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• v.31 no.1
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• pp.37-49
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• 2015

According to outstanding maritime economists from domestic and overseas, shipping lines or ships' enlargement reduce fixed costs, and assist realization of scale of economy of shipping. On the contrary, recent Korean liquidity crisis on the shipping lines (SL) has been focused on the leading companies such as Hanjin Shipping (HJS), Korealines, and STX Pan Ocean. In this respect, this study aims to review Korean SLs' strategies and suggest the optimal solution between the specialization and enlargement. For these purposes, this research adopts slack based measure data envelopment analysis (SBM-DEA) model as a research methodology. As for decision making units (DMUs), SLs which have increased the vessel numbers and belonged to top tier group in year 2013, are selected. The results are comprised with two aspects. Firstly, HJS, KMTC, Korea LNG Trading (KLT), EUKOR, and Sinokor Tanker show the most efficient in regard to constant return to scale (CRS) model. Secondly, HJS, KMTC, KLT, Daerim, Chungang, Sinnokor Tanker, and EUKOR are the most efficient companies in terms of variable return to scale (VRS) model. Lastly, these results could be affected to the management philosophy and can answer the following question. Which is the most optimized SL?s management decision making, enlargement or specialization?

• Journal of Navigation and Port Research
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• v.44 no.1
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• pp.44-52
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• 2020

More accurate forecasting of port cargo in the global long-term recession is critical for the implementation of port policy. In this study, the Busan Port container volume (export cargo and transshipment cargo) was estimated using the Vector Autoregressive (VAR) model and the vector error correction (VEC) model considering the causal relationship between the economic scale (GDP) of Korea, China, and the U.S. as well as ARIMA, a single volume model. The measurement data was the monthly volume of container shipments at the Busan port J anuary 2014-August 2019. According to the analysis, the time series of import and export volume was estimated by VAR because it was relatively stable, and transshipment cargo was non-stationary, but it has cointegration relationship (long-term equilibrium) with economic scale, interest rate, and economic fluctuation, so estimated by the VEC model. The estimation results show that ARIMA is superior in the stationary time-series data (local cargo) and transshipment cargo with a trend are more predictable in estimating by the multivariate model, the VEC model. Import-export cargo, in particular, is closely related to the size of our country's economy, and transshipment cargo is closely related to the size of the Chinese and American economies. It also suggests a strategy to increase transshipment cargo as the size of China's economy appears to be closer than that of the U.S.

• Journal of Cadastre & Land InformatiX
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• v.49 no.2
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• pp.135-149
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• 2019

This article analyzed economic effects of changes in spatial accessibility on regional touruism expenditure structure resulting from highway investments on Gangwon province, Korea. The Seemingly Unrelated Regress(SUR) model is applied to analyze the structure of change in tourism expenditure of Gangwon Province, and the competition and complementary relationship of tourist demand were analyzed among 18 counties in Gangwon by Dendrinos-Sonis method. The spatial accessibility has a significant effect on the increase in amount of tourist expenditure, but by 1% increase in the accessibility resulted in a reduction of length of stay -0.18% and travel costs -0.34% by respectively. The most powerful variable for improving the on-site economy is the tourist service establishment, which increases one unit, the amount of tourist expenditure increased by 3.6%. Moreover, the competition and supplemental relationship of tourism demands in Gangwon was decided by the conditions under which traffic flow with passing occurred, such as inland or ocean-typed travel attractions, adjacent or remote regions to the highway. The limitations of this study were not able to use raw data of tourism expenditures before and after the opening the highway due to the restriction of priority data, and further research on the appropriate level of spatial accessibility for the regional economy is needed.

• Journal of the Computational Structural Engineering Institute of Korea
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• v.29 no.1
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• pp.29-36
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• 2016

Lifting lugs are frequently used to transport and to turn over blocks of ship and offshore structures in a shipyard. As the shipbuilding technology has been developed, blocks has become bigger and bigger, and block management technology takes a more important role in shipbuilding to enhance the productivity. For the sake of economy as well as safety in design of lug structure, needed is a more rational design procedure based on the ultimate strength derived through the rigorous non-linear structural analysis considering both the material and geometric non-linearity. This study is aimed at deriving the optimum design of T type lug structure which is frequently used in a shipyard. The optimum thickness of lug's main body is to be determined based on the results of non-linear strength analysis. As far as the present results for T type lugs having various capacity are concerned, it can be said that the present optimum design result can guarantee both safety and economy. From the fact that any regular trend cannot be found in weight reduction to the capacity of lugs, it seems to be necessary to review the current design procedure of lug structure. The present design procedure can be extensively used in design of various types of lug structures used in shipyard.

• Journal of Korean Port Research
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• v.3 no.1
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• pp.3-33
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• 1989

The amount of the Korean export & import in 1987 reached $88.3 billion which was 1.75% of the total world trade and the proportion of foreign dependence to G.N.P was 74.5%. From these facts, we can infer that the development of national economy is largely dependent upon trade. Therefore the role of transportation, especially Ocean transportation, as a basis of economic development through trade is one of the main factors that can not be passed over. Here, We can define that a port as a subsystem of transportation determines the efficiency of the total transportation system. Thus, the purpose of this paper is to contribute in improvement of the efficiency in port, reinforcement of the international competitiveness for exporting goods by the analysis of the cargo handling charges. In order to do this, this paper deals the case of B.C.T.O.C. Furthermore, this study gives some important informations related to the level of tariffs for establishing an autonomous port administration. The Summary of the conclusions of this paper is as follows ; 1) The object of port administration in Korea has been emphasized on the maximization of efficiency in using the port facilities. Nowadays, however, it should be moved to a direction that port is operated under the compound aims considering the public interests and economy. 2) For a criterian of tariff calculation, A tariff system based on the cost accounting is desirable. In general it is recommended that the cost for construction, management, and operation of port is compensated by the revenue from port operation. Therefore, it is necessary for the administration bodies of each port to establish a tariff system on the basis of the independent profit system. 3) For the investigation of actors of tariff adjustment by the Break-even point analysis, (1) When we conducted the B.E.P analysis using total cost as cost term, we got 3.8% discount in tariff at 12% of target profit rate and 1.5% discount at 15% of rate. when we set the target profit rate as 17% we could have the proper tariff level. (2) When using operating cost as cost term, we got 13.1% discount in tariff at 12% of target profit rate and 10.9% discount at 15% of rate. When setting the target profit rat as 28%, we could have the proper tariff level. 4) Comparing with the tariffs of foreign ports for the basic terminal rate, The tariff level of B.C.T.O.C showed 33% of stevedoring charge and 80% of marshalling charge incurred at Kobe port. The comparison with Singapore port gave 50% of transhipment charge and 17% - 20 % of stevedoring charge. 5) We found that the financial structure of B.C.T.O.C was better than those of other companies and the worth fixed assets ratio was too low. The fact of low worth fixed assets ratio implies that the cargo handling facilities should be increased. Moreover, The return of assets for B.T.T.O.C was good but non-operating expenses were still contained too much in. Therefore, we think that it is necessary for B.C.T.O.C. to rationalize business management. Although the present cargo handing charge for B.C.T.O.C is a proper level in terms of a public corporation, for the final recommendation in connection to the results, It is required to take the rationalization process for business management.

• Environmental Analysis Health and Toxicology
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• v.24 no.3
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• pp.241-249
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• 2009

Heavy metal contaminants on the aquatic environment are of interest because they can have severe effects on economy and public health. Recently, the studies for monitoring of heavy metals try to do on aquatic system to assess safety and health of ecosystem by heavy metals. Thus, biological responses were investigated on Korean fairy shrimp Branchinella kugenumaensis exposed to cadmium (Cd) or copper (Cu) for long-periods (30 days). The survival rate decreased significantly (p<0.05) on B. kugenumaensis exposed to Cd and Cu at all concentrations. Especially, the highest decrease was observed at the relatively high concentration of Cd and Cu (p<0.01) and the response by Cd exposure was at dose-dependent. The growth rates were also decreased significantly (p<0.05) on B. kugenumaensis exposed to Cd and Cu for at all concentrations. Then, the reproduction rate, numbering cyst, was decreased significantly (p<0.01) on B. kugenumaensis after Cd or Cu exposures. Long exposure of the relatively high concentration Cd and Cu can have severe effects on the reproduction, while exposures of Cd and Cu can not have effects on sex ratios of B. kugenumaensis. Additionally, asymmetric telson deformity was only observed after Cd exposure. Therefore, these results suggest that B. kugenumaensis is a sensitive bio-indicator of heavy metal exposure and these biological responses of B. kugenumaensis give important information for long-term monitoring on aquatic ecosystem.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2022.06a
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• pp.391-393
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• 2022

In recent years, technologies forecasting demand based on deep learning and big data have accelerated the smartification of the field of e-commerce, logistics and distribution areas. In particular, ports, which are the center of global transportation networks and modern intelligent logistics, are rapidly responding to changes in the global economy and port environment caused by the 4th industrial revolution. Port traffic forecasting will have an important impact in various fields such as new port construction, port expansion, and terminal operation. Therefore, the purpose of this study is to compare the time series analysis and deep learning analysis, which are often used for port traffic prediction, and to derive a prediction model suitable for the future container prediction of Busan Port. In addition, external variables related to trade volume changes were selected as correlations and applied to the multivariate deep learning prediction model. As a result, it was found that the LSTM error was low in the single-variable prediction model using only Busan Port container freight volume, and the LSTM error was also low in the multivariate prediction model using external variables.

• Journal of Welding and Joining
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• v.34 no.1
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• pp.59-67
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• 2016

The automotive manufactures increase their use of lightweight materials to improve fuel economy and energy usage has a significant influence on the choice of developing materials. To meet this requirements manufacturers are replacing individual body parts with lightweight metals, for these the process treating and painting surfaces is changing. The pre-coated steels are newly developed to avoid the conventional complex and non-environmental painting process in the body-in-white car manufacturing. The development of new joining techniques is critically needed for pre-coated steel sheets, which are electrically non-conductive materials. In the present study, dissimilar combination of pre-coated steel and galvanized steel sheets were joined by the self-piercing rivet, adhesive bonding and hybrid joining techniques. The tensile shear test and free falling high speed crash test were conducted to evaluate the mechanical properties of the joints. The highest tensile peak load with large deformation was observed for the hybrid joining process which has attained 48% higher than the self-piercing rivet. Moreover, the hybrid and adhesive joints were observed better strain energy compared to self-piercing rivet. The fractography analyses were revealed that the mixed mode of cohesive and interfacial fracture for both the hybrid and adhesive bonding joints.