The Current Situation of Energy Logistics in Northeast Asia and the Establishment of Port Cluster Related to Energy Logistics

Abstract

Global industries have established clusters to compete effectively with one another. The industries of port and energy logistics are no exception. The cluster tends to be established in order to take advantage of economic merits in the specific region. Korea has comparative advantage in an oil logistics hub against other countries in Northeast Asia in terms of geographical location, natural condition of port with deep waters, cluster of petrochemical industries near to the port. When considering such strong advantages of Korea for becoming an oil logistics hub in Northeast Asia, it is right time for Korea to take seriously consideration to pursue policies for oil logistics hub which has a significant effect on regional economy, port logistics, petrochemical industries ect. This paper attempts to review the possibilities to establish an oil logistics hub and port cluster while conducting SWOT analysis and suggest some strategies to undertake the project successfully.