Jungjingong-HMM Join Hands to Support Long-Term Shipping for Exporting SMEs

From North America to Europe, Eliminating Export Cargo Space Concerns for SMEs
Expanding to the Americas by Year-End... Securing Additional Shipping Space for Europe Support

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 2nd that it has signed a business agreement with HMM (CEO Bae Jae-hoon, hereinafter referred to as HMM) to support long-term transportation for export small and medium enterprises.

Through this agreement, SBC and HMM will expand the monthly temporary extension of 350 TEU (1 TEU is one 20-foot container) per shipment for shipments to the Americas until the end of the year, and additionally secure shipping space for Europe (50 TEU per shipment) to continuously support the aggregation of export volumes, logistics brokerage, and priority allocation of shipping space for small and medium enterprises. When SBC receives cargo from small and medium shippers with export volumes to the US and Europe from Korea through 'GoBiz Korea,' HMM will prioritize providing shipping space to those small and medium shippers.

Previously, SBC and HMM temporarily promoted a maritime transportation support project from November last year, supporting a total of 16 shipments and 5,108 TEU of export cargo from small and medium enterprises on the route to the Americas. However, as the high freight rates on the Americas route continue and freight rates on the Europe route have surged more than threefold, causing prolonged maritime logistics difficulties on major export routes, they have joined forces once again to expand practical support for long-term transportation for small and medium enterprises exporting relatively small cargo volumes.

Chairman Kim Hak-do said, "Following the rise in maritime freight rates and container shortages due to the surge in global cargo volume, and the recent Suez Canal accident, uncertainty in maritime logistics is increasing," adding, "We will expand cooperation with export-related organizations including HMM to increase container space, stabilize freight rates, and establish a sustainable logistics safety net for export small and medium enterprises."

This content was produced with the assistance of AI translation services.