Korea Ocean Business Corporation to Support Total of 3.4 Trillion Won in Marine Industry This Year

Korea Ocean Business Corporation has decided to support the maritime industry with a total of 3.4 trillion won this year.

On the 18th, Ahn Byung-gil, President of Korea Ocean Business Corporation, stated at a press briefing held at the government Sejong Government Complex, "In addition to financial projects such as ship and maritime infrastructure financing, we will promote new projects such as eco-friendly response, supply chain support, and digital transformation of the maritime industry to help the maritime industry respond well to the changing environment."

This year, the corporation announced that it will carry out projects worth a total of 3.4 trillion won in five areas: ▲expansion of maritime finance supply ▲provision of global-level maritime information services ▲support for digital transformation (DX) ▲support for eco-friendly response ▲strengthening global capabilities.

First, in the financial sector, it will promote ▲ship financing (about 2.11 trillion won) ▲port logistics infrastructure financing (about 730 billion won) ▲eco-friendly response (about 340 billion won) ▲supply chain stabilization financial projects (about 100 billion won) ▲management support financial projects (about 190 billion won), among others.

In the non-financial sector, government projects such as publishing shipping port logistics reports to provide global-level maritime information services, issuing ship valuation reports, the national essential fleet system, global low-carbon response support projects, excellent shipper certification system, and export-import logistics data sharing platforms will proceed without delay.

In particular, starting this year, to promote the digital transformation (DX) of the maritime industry and actively support platform construction, the corporation established the 'Maritime DX Strategy Office' directly under the president through an organizational restructuring on the 7th. It plans to invest 13 billion won in building an AI-based supply chain data platform.

Additionally, to respond to global market fluctuations, it plans to proceed step-by-step with the establishment of the 'International Shipping Exchange (tentative name)' and initiate the foundation for maritime derivative product trading such as sea freight, eco-friendly fuel, carbon emission rights, and scrap ship price forward trading.

President Ahn said, "We will make this year the first year to establish ourselves as the world's No. 1 comprehensive maritime support institution with assets of 100 trillion won and 500 employees by 2040."

Meanwhile, since its launch in July 2018, the corporation has supported securing assets such as ships for shipping companies and management stabilization projects. It has also contributed to the growth of the maritime industry by completing support worth about 13 trillion won to a total of 138 companies through maritime information provision and policy support projects.

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