Earticle

The paper tried to analyze the problems and their solutions of ocean pollution control institutions focused on the oil spill accidents in Korea. The analysis was conducted from the perspective of principal-agent theory. The results of the analysis indicated that there existed agent's problems such as adverse selection, moral hazard, and complexity of external structure in the process of operating the ocean pollution control institutions: selecting private controlling enterprises based on bribery (adverse selection and moral hazard), private controlling enterprises' flattery to polluters (funding for them) and their disobedience to coast guard (complexity of external structure). The paper suggested a few of solutions for the problems: improvement of informational system, enhancement of incentive system, and simplification of principal-agent relationship.

China has been implementing shipbuilding as a strategic industry at the beginning of the People's Republic of China to establish itself as a major maritime power. Unlike most other sectors, its infrastructure could not be physically relocated far inland as part of Mao’s disastrously “Third Front Movement”. When Deng began reforms at the end of the 1970s, he prioritized shipbuilding to support the shipping industry, which helped carry foreign trade, underwriting several decades of rapid growth of China, As a result, the global market share of China's shipbuilding industry increased significantly from 2000s by using abundant cheap labor and domestic demand and China overtook Korea as the world's top shipbuilder in the first half of 2010. However, China's shipbuilding industry experienced significant slowdown in production completion, cancellation of existing orders, and huge drop in new orders since the international financial crisis of 2008. Since 2013, the Government issued several Action Plans to accelerate structural adjustment and the transformation and upgrade the shipbuilding industry and they had removed seriously excessive capacity successfully so far. But the current capacity is still too excessive, and China’s shipbuilding industry needs to ‘slim down’ further by removing another capacity. This paper looks into the development process of the China's shipbuilding industry and try to find out a few suggestions for future development of industry

Since marine ecosystem services are economically located in the field of market failure, it is necessary to discuss more specifically about the supply of appropriate levels of ecosystem services and their compensation and regulation. In particular, there is a problem of abuse and free ride because there is no proper compensation or payment. In this regard, we reviewed economic theories, implementation plans, and similar cases at home and abroad for the characteristics of the ecosystem service payment system as a more efficient way to manage ecosystem services. So far, in Korea, it is the initial research stage for the introduction of the ecosystem service payment system, but it is considered that more active research is needed to manage the ecosystem service more efficiently in the future.