Korean shipping companies have seriously contemplated on pursuing economies of scale in order to tap the potential that Korea can generate for the seaborne cargo volume and fleet capacity, despite of latent pros and cons associated with the economies of scale. This paper shows the concentration ratio of the top four liner shipping companies in Korea is well below that of the global counterpart.…
Three wide-spread opinions were set in as orthodox in the Koreaʼs shipping society as for the development of Koreaʼs shipping industry. Firstly, the ocean-going shipping industry of Korea started from the scratch. Secondly, Korea took the reversed step compared with the pattern in advanced countries in that higher maritime educational institutions were established prior to acquiring vessels. …
Fierce inter-port competition requires to strategically consider the roles port size and incentives play in a port user’s port selection. This paper contributes to literature by developing a simple game-theoretic model to address this particular issue. We demonstrate that once port is selected the port size and the administered incentive level positively influences the level of port user’s …