ABSTRACT

Purpose – The purpose of this paper is to look into some alternative for Korean shipping to overcome difficult situations in shipping, since then it is economic crisis at the end of 2000s. Research design, data, and methodology – The research method to be adopted is first to review theoretical overview about shipping cycle, and then examine difficult shipping situations and studies management aspect, which is to related to establishment of Korea Shipping Council. Results – The boom and bust situations in shipping market have been identified as result of economic crisis at the end of 2000s. Trade volumes have fallen and shipping tonnage has risen respectively. In practical terms, shipping industry has suffered from difficult situations, following to supply and demand of shipping market, and Korean shipping had to face hard time as well, according to lack of management ability of shipping company. Alternatively, it should be asked shipping forum like Korea Shipping Council. Conclusions – From situations of shipping markets since the end of 2000s, it is strongly asked that every parties got involved in shipping business should understand and share more expertise and knowledge of shipping market, which is finally related to decision- making process in shipping.

KEYWORD

Shipping, Boom, Bust, Management, Council.

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