• Journal of Korea Port Economic Association
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• v.23 no.1
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• pp.19-39
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• 2007

Korean port developments have been mostly made by the central government. With the introduction of the Port Authority system, however, roles and function assignments of the central government in port development have been in change and the Port Authority has to find a solution for inducement of private investment in port development. This paper has examined the current legal system of port developments and then sought the way for inducement of private capital to improve specialty and efficiency of harbor facilities management and development under Port Authority. As the Ministry of Maritime Affairs and fisheries(MMAF) has two types of legal system for inducement of private investment on port developments, the Port Authorities can also have two types of private finance. Private finances by the Port Authorities has some more critical advantages than the one by the central government. It is also required to change the the administrative permissions and concession agreements which MMAF conveyed to private participants in port developments into the concession agreements between Port Authorities and private participants.

• Journal of Navigation and Port Research
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• v.30 no.7
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• pp.599-605
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• 2006

The Port Development has been achieved by the Government because it needs large scale of funds. However, since 1994, the Govenment has been implemeting private investments for constructing and operating the ports and so on. Although the Government had high expectation that it could expedite the expansion of the port facilities, there were many problems in view of construction, management, financial and social environment. This study figure out that most of the important reasons are the uncertainty of risk allocation between private investors and the Government, using with Analytic Hierarchy Process. It is expected that the results of this study will encourage more private investors to participate in port private investments in the future.

• Journal of Korea Trade
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• v.23 no.4
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• pp.17-29
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• 2019

Purpose - This study examines the relationship between public-private partnerships and the performance of ports based on three factors: the quality of the port infrastructure, container throughput, and logistic performance in three Latin American countries, Mexico, Panama, and Brazil, for the period of 1994-2017. Design/methodology - The selected countries are top ranked in terms of container throughput in Latin America. The methodology employs secondary data from the World Bank (Quality of Port Infrastructure, Logistics Performance Index, and Private Participation in infrastructure database). Findings - Overall, the results revealed that the private investment of these countries varies significantly over the past couple decades. Panama, with the least public-private investment over the study period, performs better than Mexico and Brazil with regards to port quality infrastructure and container throughput. For ports in the selected countries to keep up with global competition, there is a need to enhance efficiency. Originality/value - Compared with ports in Asia, Latin American ports are lagging behind with respect to container throughput and efficiency. This study suggests greater collaboration from the private sector, academia, and other organizations, as well as a review of the regulatory framework to ensure better transparency and project allocation. Throwing more light on the public-private investment environment of Mexico, Brazil, and Panama, this study offers policy makers and regulators insightful information on port infrastructure.

• Journal of Navigation and Port Research
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• v.28 no.7
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• pp.601-608
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• 2004

Recently, port development has been actively in progress through a private investment project. Incheon North Port functions as an auxiliary port for Incheon Port to solve its chronic demurral and freight congestion and to treat materials such as wood, iron material, feed materials. Service charges is one of important factors in the port choice to treat general goods. In general, service charges can be calculated by two methods such as cost accounting method and market price method. This study will review the characteristics of the Incheon North Port (berth 3), which is under the progress of the private investment project and estimate the reasonable service charges for general goods on the basis of market price. This will help a concessionaire to maximize the operation efficiency.

• Asian Journal of Business Environment
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• v.6 no.1
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• pp.13-17
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• 2016

Purpose - Purpose of paper is to clarify this PPP((Public Private Partnerships)'s essence and advantages as well as disadvantages, and then it will take it out some conclusions and implication together. To do so, PPP should be examined carefully and then landlord port will be investigated in view of PPP, then, it will give some implications whether or not PPP is successful to apply more port in concern. Research Design, data, and methodology - The methodology that I take is to look into both PPPs and then to look intp landlord port in view of PPP. By doing so, it can be more understandable to PPP in port industry. Results - It can be found that landlord port system is more valuable and applicable instrument to adapt for port competitiveness and productivity, which leads to efficient port management. Conclusions - Landlord port system is an alternative instrument to be apply to port management in terms of PPP, and it has been justified that many worldclass port has taken this landlord port management system.

• Journal of Navigation and Port Research
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• v.44 no.5
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• pp.430-437
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• 2020

This paper analyzes the profitability of the Private Finance Initiative(PFI) ports and proposes the application plans of the R-project(Rehabilitate project) for old ports to attract and activate private investment in the port industry. The R-project of old ports can reduce the government's financial budget and provide improved facilities for users more quickly than the public sector comparator. Before suggesting the R-project for old ports, the profitability of the currently operating 11 companies of the PFI ports are analyzed using the four ratios of profitability, and the results show that all the companies indicate low profitability, except for the top three companies. To apply the R-project, the three types of R-project ports are categorized as maintaining the function of the port, changing the function of the port, and mixing the function of the port. Additionally, three obstacles and improvement measures are suggested; attracting private business, legal issues, and administrative procedures. This study is conducive to the policy making for the port renewal and the activating PFI for the port industry.

• Journal of Navigation and Port Research
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• v.31 no.4
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• pp.317-323
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• 2007

As economic trade between Korea and China has been encouraged with the rapid growth of Chinese economy and port competition in Northeast Asia, Korean government is trying to promote development and consolidation of ports to cope with the lack of facilities. Thus, many projects for port development have been propelled including the enactment the 'Private investment promotion law for social overhead capital 1994.' However, there are still some unsettled issues since considerable part of risk is still allocated to the Government when it has to support the private businesses in these port investments whenever unexpected problems arise. Allocation of risk among the participants - in this case especially - is a very subtle issue, however, it was revealed that not many precedent researches were done on the subject. In my previous research, I classified and analyzed 4 principle risks i.e, construction, management, financial and social risk. This research investigates the reasonable allocation of the risks among the participants using the Hierarchial Fuzzy Process. In the result of analysis, responsibility of private party is the most important and it must put the responsibility before Government' roll concerned. Also, this research displayed and proposed the direction of management method on port development in a view of minimizing risk and maximizing initiative of a private party.

• Journal of Fisheries and Marine Sciences Education
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• v.23 no.3
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• pp.503-514
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• 2011

Port Authority in Korea does not have financial independence nor fair recruitment practices, thus the prospects of the establishment of the Port Authority is not adequate. Therefore independent and effective port administration cannot be achieved. To overcome this situation, this paper examines the port administration system in Korea and identifies its problems. This paper then provides an 'modeling of Analytical Hierarchy structure' for evaluation. An alternative solution is provided by carrying out a public survey, analysing the significance of the evaluation factor using the techniques of the Analytical Hierarchy Process. The significance of profitability was identified. The role of central government is significant when assessing the public service function of port administration; and the role of the private company is significant when assessing the independence. In addition, the private company is significant when assessing profitability. The private company is the alternative for port administration in Korea, based on the evaluation of various alternatives.

• Journal of Distribution Science
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• v.13 no.2
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• pp.5-13
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• 2015

Purpose - In recent years, concerns over privatization have been growing in some public sectors. Privatization in Britain offers lessons for those who have intended to privatize their industry, and in particular, the port industry. Therefore, it is useful for researchers to examine British port privatization in detail, particularly the implications of UK port privatization. Research design, data, and methodology - After reviewing the historical development of the UK port industry, the important factors determining the success of the British port privatization process were identified. The interpretations could be lessons for some other country to consider port privatization in near future. Results - The key factors in relation to port privatization are first, regulation; second, ownership; and third, utilities and operations, which includes autonomy, efficiency, and competitiveness. In addition, the UK port management system is a pure private port system, which has been successful. Conclusions - In Britain, after deciding to privatize the erstwhile public ports, they were fully privatized, focusing on the aforesaid key factors. This offers important lessons for the privatization of other ports in the world.

• Journal of Distribution Science
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• v.14 no.7
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• pp.45-52
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• 2016

Purpose - The purpose of the paper is to look into and review the management and operation of Chinese infrastructure process, especially focusing on port industry. Research design, data and methodology - The research methods to be applied is to examine PPPs that is a key way of cooperation in many infrastructure investment, financial matters, and then port industry as well. Results - It is well noticed that Chinese government has well managed with project, planning and investments in national infrastructure matters. Especially, this is clear message that government institutions for infrastructure planning has been well organized with systematic structure. However, even if it is involved with some risky business, PPPs should be asked for cooperation in the areas of financial, institutional and logistic part of infrastructure development in China. Conclusions - Every country has been in promoting its infrastructure development and it is not an exception in China. In order to get over inefficiency done by public sectors, Chinese government has invited a private sector in the form of PPPs, which gives more competitive opportunities, especially in port industry.