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The restructuring of shipping and shipbuilding companies in the midst of rapidly shrinking global shipping demand has become a prominent issue in Korea. In shipping finance, loan syndication featuring many creditors surges as the preferred option. However, increasing the numbers of creditors in the syndicate results in two opposite effects. First is the beneficial effect from their enhanced monitoring power. On the other hand, there is the adverse effect resulting from increased difficulty in coordination when syndicate members increase, particularly in bankruptcy. Our aim of this paper is to analyze the role of finance in the shipping and shipbuilder markets, and determine the theoretical optimal number of creditors for the shipping finance syndicate based on Bolton and Scharfstein (1996). The two issues above result from moral hazard and non-verifiability: coordination among many creditors for collection of bonds in case of default, and the enhancement of monitoring private benefit exploitation by the ship-owner during default. Considering the two conflicting forces result from an increase in creditor membership, we draw conclusions on determining the optimal number of creditors by considering trade-offs between these two factors: More creditors are preferred when the monitoring effect dominates. Otherwise, less creditors are preferred.

In cities with high density, heat is often trapped between buildings which increases the frequency and intensity of heat events. Researchers have focused on developing strategies to mitigate the negative impacts of heat in cities. Adopting green infrastructure and cooling pavements are some of the many ways to promote thermal comfort against heat. The purpose of this study is to improve microclimate conditions and thermal comfort levels in high-density living conditions in Seoul, South Korea.

This study compares six design alternatives of an apartment complex with different paving and planting systems. It also examines the thermal outcome of the alternatives under normal and extreme heat conditions to suggest strategies to secure acceptable thermal comfort levels for the inhabitants. Each alternative is analyzed using ENVI-met, a software program that simulates microclimate conditions and thermal comfort features based on relationships among buildings, vegetation and pavements.

The results indicate that grass paving was more effective than stone paving in lowering air temperature and improving thermal comfort at the near-surface level. Coniferous trees were found to be more effective than broadleaf trees in reducing temperature. Thermal comfort levels were most improved when coniferous trees were planted in paired settings.

Landscape elements show promise for the improvement of thermal conditions because it is much easier to redesign landscape elements, such as paving or planting, than to change fixed urban elements like buildings and roads. The results identified the potential of landscape design for improving microclimate and thermal comfort in urban residential complexes.

The results contribute to the literature by examining the effect of tree species and layout on thermal comfort levels, which has been rarely investigated in previous studies.

As the global economy continues to boom, there remains a significant need for more efficient transportation and effective management in corporate logistics. In this regard, railways have been considered one of the most efficient modes for long distance transportation. In Asia, there are several extensive and direct railroads such as the TSR (Trans-Siberian-Railroad), the TCR (Trans-Chinese-Railroad) and the TMR (Trans-Mongolian-Railroad) which could connect Asia to Europe. If these railroad networks such as the TKR (Trans-Korean-Railroad) were fully operational, it is expected that they would replace a major portion of the current global trade transportation with is sent through other shipping methods. Therefore, the development of railroad networks is one of the most important steps toward an integrated international transportation system. However, in reality, it is difficult to achieve this vision because of the political and economic problems surrounding multiple countries that this network must cut across. Moreover, it is difficult to ensure the railways’ economic competitiveness when it is compared with other logistics options. In this study, we aim to discover the status quo about railway networks by focusing on the TCR and TSR. Through in-depth interviews and surveys with actual users of these networks, current issues and problems are analysed in order to make suggestions for improvements. This research also provides meaningful insights which the TKR-TSR and TKR-TCR railway networks should consider if they want to continue to be successful in the future.

China is currently developing and promoting an industrial cluster policy at the government level. By enacting the ‘Opinion on promoting industrial cluster development’, China is supporting the development of industrial clusters. Building an industrial cluster is done by using a single factor but requires many additional factors like regional characteristics, competitiveness factors are also diversified. To evaluate the competitiveness of the Chinese automobile industry cluster, a competitiveness element index should be developed and a competitiveness evaluation method is needed to evaluate the importance of each element. To accomplish this objective, this research applied the analytic hierarchy process (AHP) and focused on the importance of the competitiveness elements.

This research investigated the character is tics regarding cases of clusters and also analyzed the competitiveness of the Changchun automobile cluster located in northeastern China. The purpose of this research is to help Korean enterprises who enter China in the hopes that Korea will emerge as a top automobile production country.