Martial Arts-SM Shipping Signs MOU to Support Vessels for SMEs... "First Application by the 11th"

Lee Gwansub, Vice Chairman of the Korea International Trade Association (left), and Park Kihoon, CEO of SM Line, are posing for a commemorative photo after signing a "Memorandum of Understanding (MOU) for Supporting Maritime Transportation of Small and Medium Enterprises" on the 8th at Trade Tower in Samseong-dong, Seoul. (Photo by Korea International Trade Association)

[Asia Economy Reporter Jeong Hyunjin] The Korea International Trade Association (KITA) and SM Line announced on the 8th that they have signed a "Memorandum of Understanding (MOU) for Supporting Maritime Transportation for Small and Medium Enterprises (SMEs)." As export volumes to the Americas have surged sharply and port congestion caused by COVID-19 has led to shipment delays for SMEs, they have taken steps to secure dedicated shipping space exclusively for SMEs.

Under this agreement, SM Line will provide dedicated vessels for SMEs until the end of this year. The first departure is scheduled for the 25th of this month. Companies wishing to ship on this vessel, which will depart from Busan Port and head to Long Beach Port on the U.S. West Coast, can apply through the KITA website by the 11th. Future vessel operation schedules will also be announced on the KITA website later this month.

At the signing ceremony held at Trade Tower in Samseong-dong, Seoul, KITA Vice Chairman Lee Gwan-seop said, "We hope this support project will be like a rain in a drought for our small and medium export companies struggling to secure shipping space." SM Line CEO Park Ki-hoon stated, "We will do our best to help SMEs smoothly export overseas," adding, "We will continuously consider expanding dedicated shipping space for SMEs, taking into account future vessel conditions."

For more details regarding the dedicated vessels for SMEs, please contact the Logistics Service Office of KITA.

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