Korea-Japan Shipping Industry "Joint Response to Suez and Panama Canal Toll Increases"
The Korea Shipping Association and the Japan Shipowners' Association signed a Memorandum of Understanding (MOU) on the 17th at the Shipping Building in Tokyo, Japan, to strengthen cooperation between the two associations.
The signing ceremony was attended by Yang Chang-ho, Executive Vice President of the Korea Shipping Association, and Morishige Toshiya, Chairman of the Japan Shipowners' Association. Both sides agreed to enhance their cooperative relationship for the development of the shipping industry in both countries. They also discussed the operation and development plans of the Asian Shipowners' Association.
Additionally, they agreed to jointly respond to the rising toll fees of the Suez Canal and the Panama Canal. As global cargo volumes increase and inflation rises, toll fees have steadily increased.
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Vice Presidents Yang said, "Through this MOU, we will form a closer relationship with the Japanese shipping industry," adding, "We will do our best to make this a turning point for Korean shipping to take a leap forward."
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