KAMCO Supports Shipping Industry ESG Management with Korean Register

[Asia Economy Reporter Eunju Lee] On the 14th, Korea Asset Management Corporation (KAMCO) and Korean Register (KR) signed a "Business Agreement for the Expansion of ESG Management in the Shipping Industry" at the 47th-floor conference room of the Busan International Finance Center (BIFC) headquarters.

This business agreement was established to actively support ESG management for small and medium-sized shipping companies that recognize the importance of ESG management but face difficulties in internalizing it.

Both organizations agreed to jointly develop ESG diagnostic indicators reflecting the characteristics of the shipping industry and to cooperate in diagnosing the current status of shipping companies' ESG management and providing guidance using these indicators. Additionally, they plan to explore ship financing support measures linked to ESG management education and efforts to internalize ESG management in shipping companies.

In particular, KAMCO expects that through this agreement, it will be able to assist not only the financial structure of shipping companies but also sustainable management encompassing non-financial values of Environment (E), Social (S), and Governance (G).

Kwon Nam-ju, President of KAMCO, stated, “This agreement is meaningful in that KAMCO, a specialized ship financing institution, and Korean Register, which has expertise in ship inspection and international standard (ISO) management system certification, have joined forces to support shipping companies' ESG management,” adding, “We will continue to expand cooperation with various organizations to strive for the sustainable development of the domestic shipping industry.”

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