[New Year's Message] Hwang Hoseon, President of Korea Ocean Business Corporation, "We Will Eliminate Financial Blind Spots for National Shipping Companies"

[Sejong=Asia Economy Reporter Joo Sang-don] Hwang Ho-seon, President of the Korea Ocean Business Corporation, stated on the 30th, "Next year, we will actively support the elimination of financial blind spots for domestic shipping companies and help them build industrial competitiveness by faithfully implementing the latter half of the shipping reconstruction plan."

In his New Year's address for the Year of the Black Ox, President Hwang emphasized, "We will provide timely and appropriate financial services necessary for domestic shipping companies to acquire assets or refinance vessels, not only for new and used ships but also for containers, port terminals, hinterland logistics facilities, and eco-friendly equipment."

The Korea Ocean Business Corporation plans to focus its capabilities on ensuring the smooth implementation of the latter half of the 'Five-Year Shipping Reconstruction Plan,' overcoming difficulties in the marine industry, and establishing a foundation for future growth to respond to rapidly changing futures.

Following the elimination of financial blind spots for domestic shipping companies, the corporation also plans to provide effective support by expanding shipping finance services required by domestic shipping companies. Specifically, it will support the establishment of cooperative systems among container shipping companies in the Southeast Asia route market to increase market share, and in response to market demands, it will support effective, customized fleet acquisition for shipping companies by offering the existing vessel introduction and purchase followed by sublease (S&LB) business also as operating leases. Additionally, under the revised Corporation Act, the scope of guarantee projects will be expanded to provide performance guarantees required by shipping companies during bidding and contract signing.

President Hwang said, "Next year, there will be high uncertainty in domestic and international political and economic conditions due to the global economic slowdown caused by the novel coronavirus infection (COVID-19) and the International Maritime Organization (IMO) environmental regulations," adding, "The Korea Ocean Business Corporation promises that all executives and employees will unite and do their best to make next year a year to establish a new growth foundation beyond shipping reconstruction."

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