Due to rapid change of distribution industry environment, e-commerce such as online shopping increased, which resulted in the increase of demand of logistics warehouse. Logistics companies that are sensitive to transportation cost which account for 69% of the logistics cost became to prefer southeas...
Due to rapid change of distribution industry environment, e-commerce such as online shopping increased, which resulted in the increase of demand of logistics warehouse. Logistics companies that are sensitive to transportation cost which account for 69% of the logistics cost became to prefer southeast area of Gyeonggi-do as logistics distribution stations because it enables 1~2 times delivery per day to the capital area. Thus, logistics warehouse development is expanded in Yongin area.
In line with interest of investors on the logistics warehouse and demand of logistics warehouse, logistics warehouse development is expanded in the areas adjacent to expressway and national way. It causes traffic congestion and natural environment deterioration, which brings conflicts with local residents.
Thus, this study carried out economic analysis based on the data of analyzing actual logistics warehouse by stage, and analyzed social and economic ripple effect after location of logistics warehouse. And, empirical analysis is carried out on the location of logistics warehouse targeted to general people, logistics associates and experts.
In the first place, to analyze social and economic ripple effect after logistics warehouse location, storage cost, job creation effect, value addition and overhead cost from 791 companies in Yongin area were estimated. Based on the reference data from the National Statistics Office, Korea Traffic Research Institute, Gyeonggi-do and Yongin-si, the estimated warehouse storage cost in Yongin area is about 735.1 billion won (61.2 billion won per month). As for employment effect, 791 companies hire 32,961 workers and average annual wage per person is about 28.6 million won. Then, the labor cost is about 942,685 million won. Besides, labor cost, operating profit, utility bill, net financial cost, depreciation and other total value add is about 33,972 million won. Property tax of building in Cheonin-gu Yongin-si in 2015 is 14,757,363,000 won. Among them, tax imposed to warehouse with over 1,000 ㎡ is 2,291,618,000 won which accounts for about 15.5%. Considering this, logistics warehouse business contributed to the local tax considerably. Besides, it seems considerable direct and indirect effect for logistics such as cargo transportation cost, fuel cost, other material cost, facility renovation cost and repair cost and local product purchase cost.
To analyze opinions of local residents and experts on the location of logistics warehouse, questionnaire survey was carried out to 400 general people and logistics warehouse experts. As a result, when the yes or no analysis is made on the logistics warehouse development, 66.9% said yes and 33.1% said no.
As for the analysis of awareness of logistics warehouse location, 76.1% knew logistics warehouse location and 23.9% did not know it.
As for the most concern for logistics warehouse development, ‘congestion’ was the highest with 48% followed by ‘deterioration of natural environment’ with 28.9%, ‘unrealistic development’ with 8.1%, ‘leak of actual income by external economy (company) investment’ with 7.6% and ‘social and cultural conflict’ with 7.3%. As such, most concern was ‘traffic congestion.’
As for positive effect of logistics warehouse location, ‘local employment and income creation’ was the highest with 46.3%, followed by ‘increased come of local resident’ with 17.4%, ‘expansion of opportunity of local development’ with 11%, ‘increase of local financial income’ with 10.4% and ‘satisfaction of desire of local development’ with 9.6%. Generally, people had positive about local employment and income creation by logistics warehouse location.
As for the analysis on logistics warehouse location, external effect and local satisfaction, logistics warehouse location awareness was high to those engaged in commercial and service industry. To the contrary, those who live for traffic had relatively low awareness on location.
As for the analysis of external effect on logistics warehouse location, 'economic effect' was the highest followed by 'social effect' and 'environmental effect.'
This study suggested references for investment validity analysis by means of logistics warehouse development case analysis and economic feasibility analysis. In addition, the empirical analysis on the social and economic ripple effect by logistics warehouse location was made in order to provide reasonable decision making data to logistics warehouse development, investor and policy developer.
Due to rapid change of distribution industry environment, e-commerce such as online shopping increased, which resulted in the increase of demand of logistics warehouse. Logistics companies that are sensitive to transportation cost which account for 69% of the logistics cost became to prefer southeast area of Gyeonggi-do as logistics distribution stations because it enables 1~2 times delivery per day to the capital area. Thus, logistics warehouse development is expanded in Yongin area.
In line with interest of investors on the logistics warehouse and demand of logistics warehouse, logistics warehouse development is expanded in the areas adjacent to expressway and national way. It causes traffic congestion and natural environment deterioration, which brings conflicts with local residents.
Thus, this study carried out economic analysis based on the data of analyzing actual logistics warehouse by stage, and analyzed social and economic ripple effect after location of logistics warehouse. And, empirical analysis is carried out on the location of logistics warehouse targeted to general people, logistics associates and experts.
In the first place, to analyze social and economic ripple effect after logistics warehouse location, storage cost, job creation effect, value addition and overhead cost from 791 companies in Yongin area were estimated. Based on the reference data from the National Statistics Office, Korea Traffic Research Institute, Gyeonggi-do and Yongin-si, the estimated warehouse storage cost in Yongin area is about 735.1 billion won (61.2 billion won per month). As for employment effect, 791 companies hire 32,961 workers and average annual wage per person is about 28.6 million won. Then, the labor cost is about 942,685 million won. Besides, labor cost, operating profit, utility bill, net financial cost, depreciation and other total value add is about 33,972 million won. Property tax of building in Cheonin-gu Yongin-si in 2015 is 14,757,363,000 won. Among them, tax imposed to warehouse with over 1,000 ㎡ is 2,291,618,000 won which accounts for about 15.5%. Considering this, logistics warehouse business contributed to the local tax considerably. Besides, it seems considerable direct and indirect effect for logistics such as cargo transportation cost, fuel cost, other material cost, facility renovation cost and repair cost and local product purchase cost.
To analyze opinions of local residents and experts on the location of logistics warehouse, questionnaire survey was carried out to 400 general people and logistics warehouse experts. As a result, when the yes or no analysis is made on the logistics warehouse development, 66.9% said yes and 33.1% said no.
As for the analysis of awareness of logistics warehouse location, 76.1% knew logistics warehouse location and 23.9% did not know it.
As for the most concern for logistics warehouse development, ‘congestion’ was the highest with 48% followed by ‘deterioration of natural environment’ with 28.9%, ‘unrealistic development’ with 8.1%, ‘leak of actual income by external economy (company) investment’ with 7.6% and ‘social and cultural conflict’ with 7.3%. As such, most concern was ‘traffic congestion.’
As for positive effect of logistics warehouse location, ‘local employment and income creation’ was the highest with 46.3%, followed by ‘increased come of local resident’ with 17.4%, ‘expansion of opportunity of local development’ with 11%, ‘increase of local financial income’ with 10.4% and ‘satisfaction of desire of local development’ with 9.6%. Generally, people had positive about local employment and income creation by logistics warehouse location.
As for the analysis on logistics warehouse location, external effect and local satisfaction, logistics warehouse location awareness was high to those engaged in commercial and service industry. To the contrary, those who live for traffic had relatively low awareness on location.
As for the analysis of external effect on logistics warehouse location, 'economic effect' was the highest followed by 'social effect' and 'environmental effect.'
This study suggested references for investment validity analysis by means of logistics warehouse development case analysis and economic feasibility analysis. In addition, the empirical analysis on the social and economic ripple effect by logistics warehouse location was made in order to provide reasonable decision making data to logistics warehouse development, investor and policy developer.
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