BNK Financial Group Signs Comprehensive MOU with Ministry of Oceans and Fisheries for Maritime Industry Development

BNK Financial Group (Chairman Bin Daein) and the Ministry of Oceans and Fisheries (Minister Jeon Jae-su) have joined forces, pledging a new leap forward for the maritime industry.

On the 3rd, the two parties signed a comprehensive memorandum of understanding (MOU) at the BNK Financial Group headquarters, aiming to strengthen the nation’s future growth engines by creating synergy between finance and the maritime sector.

BNK Financial Group and the Ministry of Oceans and Fisheries signed a comprehensive mutual business agreement on the 3rd at the BNK Financial Group headquarters in Munhyeon-dong. Photo by BNK Financial Group

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BNK Financial Group initiated this agreement in anticipation of the Ministry of Oceans and Fisheries’ relocation to Busan, which is expected to accelerate the concentration of related industries in the region. The group aims to strengthen the financial support base for the entire maritime industry and lead the creation of a regionally driven maritime finance ecosystem.

The signing ceremony was attended by Minister Jeon Jae-su of the Ministry of Oceans and Fisheries and Chairman Bin Daein of BNK Financial Group. Both sides recognized the need to foster the maritime metropolitan area as a new growth engine for South Korea and agreed to establish a mutual cooperation system in preparation for the era of Arctic shipping routes.

BNK Financial Group (Chairman Bin Daein) and the Ministry of Oceans and Fisheries (Minister Jeon Jae-su, left) signed a business agreement on the 3rd.

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Under the agreement, the two organizations plan to: ▲ foster the maritime metropolitan area and support upstream and downstream industries in preparation for the era of Arctic shipping routes; ▲ nurture smart, eco-friendly shipping and port industries; ▲ promote a sustainable fisheries industry in response to climate change; ▲ vitalize the maritime industry to boost coastal and fishing village economies; ▲ establish a marine environmental management system to create clean and pristine seas; ▲ support the relocation of the Ministry of Oceans and Fisheries and related agencies to Busan; ▲ promote marine safety projects to ensure safe seas; and ▲ expand global cooperation in the maritime and fisheries sector.

In September, Busan Bank, a subsidiary of BNK Financial Group, was selected through an open competition as the exclusive lender for employees of the Ministry of Oceans and Fisheries. The bank is currently providing loan consultations to ministry staff at the Sejong government complex and plans to continue offering maximum financial support after the ministry relocates to Busan.

A BNK Financial Group representative stated, "With this agreement, we plan to actively support regional innovation and sustainable growth by participating as a financial partner in strategic projects promoted by the Ministry of Oceans and Fisheries, such as the Arctic shipping route."

On the morning of the same day, Busan Bank launched the "Maritime Finance Future Strategy Think Lab," composed of internal and external experts, to accelerate efforts to strengthen maritime finance and further develop its blueprint.

BNK Financial Group will continue to identify and promote pilot projects related to the maritime and fisheries industry, spreading the model of regionally driven, productive finance.

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