Economic Contribution of Ports to the Local Economies in Korea

The impacts of port infrastructure and logistics performance on economic growth: the mediating role of seaborne trade

“…British ports were no longer major employers and the industrial inter-related complexities no longer existed, further reducing the impact of ports on the local economy (Gripaios and Gripaios, 1995). Two relatively recent studies, one in the context of South Korea (Jung, 2011) and another in the context of China (Deng et al, 2013), have also argued that ports are having declining effects on economy. In particular, Jung (2011) identified that from 1990 to 2008, South Korea experienced 87.5% decrease in the direct port employment creation effect per billion Korean won.…”

“…Yochum & Agarwal, 1987, Ferrari et al, 2010, Bottasso et al, 2013, Shan et al, 2014, Chang, et al, 2014 have noted that ports stimulate the economic growth of a country or region, whereas others (e.g. Kinsey, 1981, Gripaios & Gripaios, 1995, Jung, 2011, Deng et al, 2013 have argued that ports do not play any key role therein. The constant decline in the number of jobs at ports due to automation and the containerisation of goods has extricated the direct economic contribution of ports.…”

Impacts of Seaport Investment on the Economic Growth

“…Recently, a major number of studies have been devoted to investigating the effect of seaport investment on national economic growth. The findings of these studies [1][2][3][7][8][9][10][11][12][13] showed that there is a positive relationship between seaport investment and economic growth. Most previous researchers used a production function approach to estimate the effects of seaport investment infrastructure on economic growth.…”

“…The authors explained that presumably, for the Islands that are dominated by industrial activities, the export activities at the port will be directly proportional to the industrial, constructional, transportation sectors and trade. For the Korean economy [12] concluded that ports played an important role in the heavy industries such as steel, shipbuilding, petrochemical industries. For the South Africa case, [8] have estimated the macroeconomic impact arising from the port sector.…”

Review of “The Chinese Belt and Road Initiative”: Indonesia-China Cooperation and Future Opportunities for Indonesia’s Port Cities Development

“…Shipping and port industries are the tools to integrate local and national economies into the international economy. Ports have been built and developed to support economic and transportation activities since the industrialization era (Jung, 2011). Ports are known as the economic catalysts for the region they serve; the agglomeration of services and manufacturing takes place in ports and generates socio-economic benefits (Warf and Cox, 1989;Pettit and Beresford, 2009;Zhang et al, 2009;Danielis and Gregori, 2013).…”