Impact of the smart port industry on the Korean national economy using input-output analysis. (December 2018)

• Record Type: Journal Article
• Authors: Jun, Wang Ki; Lee, Min-Kyu; Choi, Jae Young
• Is Part Of: Transportation research. Volume 118(2018)
• Page Start: 480
• Page End: 493
• Publication Date: 2018-12
• Subjects: Input-output analysis -- Smart port -- Economic impact analysis; Transportation -- Research -- Periodicals; 388.011
• DOI: 10.1016/j.tra.2018.10.004
• Languages: English
• ISSNs: 0965-8564

Abstract

Highlights: The economic impacts of the smart port industry on the Korean economy are analyzed. Four kinds of classification methods are derived using a modified hybrid methodology combining Delphi techniques and input-output (I-O) analysis. The range of induction coefficients of production, value added, and employment for the smart port industry are quantitatively calculated and compared to those of the port industry. Additionally, inter-industry linkage effects for the smart port and port industry are examined. Abstract: Recently, state-of-the-art technologies such as the Internet of Things and information and communications technology have been applied to the port logistics field in accordance with the advent of the fourth industrial revolution globally. In line with this trend, developed countries are developing and applying smart port technology in the port industry. However, few studies have investigated the economic impact of this activity. Thus, by reviewing the various definitions and policies of the smart port industry and applying a modified hybrid methodology combining Delphi surveys and input-output analysis, this study estimates the economic impact of the smart port industry on the Korean economy with a sophisticated yet reasonable range of values. The smart port industry is dominated by the forward linkage effect, which means the smart port industry is used as an intermediary material or process in other industries. Furthermore, compared with the port industry, the smart port industry has an especially large impact on productivity, value added, and employment.