• Journal of Navigation and Port Research
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• v.44 no.3
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• pp.244-252
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• 2020

The 2008 global financial crisis was triggered by the Lehman Brothers crisis caused by the sub-prime mortgage crisis in the United States This crisis has had an impact on the globe's dry bulk shipping market by reducing dry bulk cargo volume. An oversupply of dry bulk carriers caused a serious recession in the globe's dry-bulk shipping industry and shipbuilding industry. In this situation, the Korean dry-bulk shipping companies were victims of the quagmire of a long recession since the global financial crisis and could not overcome this crisis. This condition forced them into severe financial risk Thus, it caused many shipping companies to file for bankruptcy. In this study, we classified Korean ocean-going dry-bulk shipping companies into two groups, that is, the solvent group and the insolvent group. We also separated the research period before and after the 2008 global financial crisis. Then we investigated the differences in the major financial ratios of the two groups by t-test and found that some financial ratios such as profitability ratios and growth ratios showed the difference between the two groups with statistical significance. The significance of this study is as follow. First, the shipping company management is also crucial for the systematic management of financial strength and business strategy, it is crucial to manage cargo which a high profitable freight. Second, the shipping company should be managed as a company with continued growth through efficient operation and management of ships.

• Journal of Korean Port Research
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• v.15 no.1
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• pp.1-18
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• 2001

The purpose of this study is to explore the nature of the relationship between several factors representing perceived port service quality and the adaptability to the marketing strategy of container terminal. An empirical study was carried out to examine not only the determinants of port service quality using PZB's SERVQUAL model but also its implications to the service marketing strategy. The data investigating the determinants of port service quality were collected from 136 managers from shipping companies by the use of questionnaire method. Factor analysis and t-test were carried out to analyze the data. The results of this study were as follows ; First, Shipping companies perceive the port service quality on two the dimensions of personnel and material aspects. Second, Shipping companies put more emphasis on the reliance of port service quality even though the port authority offers good facilities and materials as parts of port shipping quality. Third, There is a significant relationship between the purchase intention and the customer satisfaction. These findings help not only to formulate service marketing strategy based on service quality but also to be a concept tool to enhance port service quality.

• Journal of Korea Trade
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• v.24 no.5
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• pp.18-34
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• 2020

Purpose - In the international shipping industry, arbitration is mainly chosen for resolving maritime disputes. This study investigates the "acceptability" of an international maritime arbitrator based on an existing theoretical model of arbitrator acceptability. Design/methodology - Using structural equation modeling techniques, this study examines a sample of senior managers who engage in the judicial affairs of their international shipping companies to verify a hypothesized model of arbitrator acceptability that covers cultural intelligence, arbitral experience, reputation, practical/legal expertise, and procedural justice as independent variables. Furthermore, the relative "perceived required time" of arbitration is tested as a moderator. Findings - Arbitrator acceptability is significantly influenced by six constructs of arbitrator characteristics: cultural intelligence, arbitral experience, reputation, practical and legal expertise, and procedural justice. Furthermore, the moderating effect of the perceived required time of arbitration is demonstrated in the relationship between arbitrator acceptability and arbitrator characteristics even though these relationships are not equally influenced. Originality/value - The originality of this study can be found in its context, that is, international maritime arbitration. Despite the potential growth of international maritime arbitration, existing studies have mainly focused on domestic arbitration. The findings of this study are expected to provide useful guidelines for nurturing international maritime arbitration in Korea.

• Journal of Navigation and Port Research
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• v.37 no.2
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• pp.181-186
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• 2013

In a corporate financing, the decision of optimal capital structure is becoming more critical issues and still remaining a problem to be solved though many of researcher have studied. Particularly, shipping companies need a huge amount of capital finance for new vessel's capacity and then they are considering what is the best capital structure. In this point of view, this study tries to investigate the determinants of debit maturity structure focused on the Korean shipping industry. As results of panel regression analysis, firm size, liquidity, chance of growth, good cash flow are major determinants of debit expiration structure in the Korean shipping companies.

• Journal of Korea Port Economic Association
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• v.32 no.1
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• pp.179-192
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• 2016

This purpose of this study is to identify the Analysis of Safety Control Factor Influenced on the Management of the Costal Shipping Companies. The study selected the analysis of safety control factors performed the Brain-Storming method, Depth Interview and Face-to-Face Interview. This survey targets are 25 experts for the opinions of expert groups with CEO of coastal shipping companies. This study used ISM(Interpretive Structural Modeling)to analyze the safety control factors and understand correlations between factors and found that sufficient acquirement of legal shipping equipment and freight (or passenger) management factors are the safety control factors that give the biggest effect on the management of coastal shipping companies. ISM analysis results are as follows. The factors that most influence the advancement of safety management is ensured the legal faithful to ship equipment. In the future, a survey have to multiple targets and to improve the practical needs by using a FSM (Structural Fuzzy Modelling).

• Journal of the Korean Society of Marine Environment & Safety
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• v.29 no.2
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• pp.168-176
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• 2023

The demand for measures to enhance the safety of maritime transportation is growing internationally, and coastal shipping companies are pursuing sustainability by establishing various maritime safety policies. Increased awareness of the safety management system and safety culture of coastal shipping companies will minimize accidents and increase corporate sustainability. This study empirically analyzed the impact of a safety management system (safety policy, risk management, and safety guarantee) on the corporate sustainability of coastal shipping companies through the mediation of safety culture. The survey questions for each variable were constructed based on previous research and a dministered to 204 employees of coastal shipping companies. Analysis founed that safety policy did not have a statistically significant effect on safety culture, but risk management and safety guarantees had a positive significant effect on safety culture, which in turn had a positive and significant effect on sustainability. Furthermore, we found that safety culture has a mediating effect on the relationship between risk management and safety guarantees and sustainability. Coastal shipping companies thus need to systematize and strengthen risk management and safety assurance to increase safety culture awareness, and increased safety culture awareness can also increase sustainability.

• Journal of Korea Port Economic Association
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• v.39 no.3
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• pp.75-90
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• 2023

This study aims to examine the impact of ESG management on management performance based on the type of organizational culture in Korean shipping and logistics companies. An online survey was conducted among shipping lines (regular and irregular) and general logistics companies with sales of more than 500 billion won that are implementing ESG management. A total of 183 copies were returned, and PLS structural equation analysis was conducted using the Smart PLS 4.0 program. The results of the study are as follows First. Governance management activities have a significant effect on business performance, social management activities have a significant effect on innovation culture, governance management activities have a significant effect on innovation culture, environmental management activities have a significant effect on hierarchical culture, and governance management activities have a significant effect on hierarchical culture. Contributions of this study First, this study analyzes the impact of ESG management activities on management performance of Korean shipping and logistics companies. Second, this study collected data through a questionnaire survey. The data were analyzed to determine the effect of ESG management activities on management performance. The data was analyzed to determine the level of ESG-related activities and business performance of companies and used to analyze the correlation between ESG management activities and business performance. Third, the results of the study suggest that companies can recognize that ESG management can help them improve their business performance. This can help companies build sustainable management strategies and further strengthen their management orientation to consider ESG factors.

• Journal of Navigation and Port Research
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• v.36 no.3
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• pp.149-155
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• 2012

This study primarily analyzed the use of shipping companies' welfare program by the characteristics of crew's demography and working condition on board, and next examined the effect of the satisfaction to the program on the organizational commitment and job satisfaction to the companies, in order to survey the shipping companies' welfare reality which has performed an influential role to meet the various welfare needs of personal crew. According to the findings in the recent survey of 459 seamen on board, there are differences among the use of the program by crew's the tolerance to work on board and personal characteristics, for example, age, marriage, position, period on board, and years of service. Moreover, the study verified the fact that the higher satisfaction to the use of those program, the higher organizational commitment and job satisfaction of crew.

• Korea Trade Review
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• v.46 no.4
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• pp.77-93
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• 2021

The results of this paper show that strategic and technical factors in the integration of logistics between shipping and logistics companies act as a synchronizing factor for internal and external logistics integration. In addition, internal integration of logistics is expanded to external integration, and internal and external logistics integration is shown to enhance the logistics performance of companies. In other words, the greater the strategic need for logistics integration and the higher the utilization of logistics technology, the stronger the motivation for logistics integration. Furthermore, both internal and external integration of logistics have a positive impact on companies' logistics costs and improvement of logistics services.

• Journal of the Korean Institute of Navigation
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• v.21 no.3
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• pp.1-18
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• 1997

From the beginning of 1990s , also in the shipping industry, especially liner shipping industry competition has been more intensive and difference of the service quality among shipping companies has been learned . On the other hand, a shipping company has some limitations to do its international mission for itself just by broadening service area. For this reason, the necessity for the global strategi alliance among the shipping companies, which is orginally aimed at sharing of facilities and organixation, has been developed. Through strategic alliance, liner shipping companies do not need to input the additional capitals to increase the material assets such as vessel capacity and spread the risk by the enlargement of the market. Also, they can secure the competitive edge through efficient utilizaton of assets. The purpose of strategic alliance of Hanjin Shipping Ltd., can be summarized as follows ; broadening of service area, cost reduction through vessel sharing, realization of rationalized shipping service by terminal and equipment or facilities sharing. Liner strategic alliances are agreement among liner companies to pol their equipment , andterminals for joint operations and services in which each alliance partner continues to serve its market using jointly operated or used inland feeders,inland terminals, port terminals, and mainline fleets of ship as well as joint pools of containers and equipment. Strategic alliances are generally more formal agreements than consortia and impose longer term and far reaching obligation on their members. It also acts as one in developing and advancing the strategic aims of the alliance members. The most important objective for liner strategic alliances is cost reduction and improvement in capital asset utilization. Main aims of strategic alliance drawn in this paper, can be enumerated follows : 1. improvements in service frequency and quality : 2. improvements in vessel and equipment utilization and thereby reductions in fixed and variable cost ; 3. improvements in market shares and high value cargo booking ; 4. reductions in intermodal storage and port terminal throughput costs ; 5. improvements in negotiating powers with ports and feeder transport providers ; 6. reduction in financial and other fixed costs such as insurance; 7. coordination and integration of MIS and EDI systems and service for greater efficiency and market penetration ; and, 8. improvements in logistic chain management and economic of scale by equipment depot, terminal, and vessel sharing.