Assemblyman Yoon Jae-gap Proposes Resolution Urging Policy Support for Maritime Port Industry

"Urging the Establishment of Win-Win Cooperation Measures Between Large Shippers and Maritime Logistics Companies"

Yoon Jae-gap, Member of the National Assembly of the Democratic Party of Korea (Haenam, Wando, Jindo)

[Asia Economy Honam Reporting Headquarters Reporter Kim Hyun] Yoon Jae-gap, a member of the National Assembly (The Democratic Party of Korea, Haenam·Wando·Jindo), announced on the 30th that he had taken the lead in proposing the “Resolution to Urge Policy Support for Strengthening the Competitiveness of the Shipping and Port Industry,” which includes preventing the establishment of logistics subsidiaries by major cargo owners, expanding the capital of the Korea Ocean Business Corporation, prompt support from the Industrial Stability Fund for the shipping industry, and recognition of legitimate collective actions by shipping companies.

The shipping industry has been experiencing severe difficulties due to the global spread of COVID-19, resulting in decreased cargo volume and freight rates, and the outlook for the global economy remains challenging.

Furthermore, the IMF, a global economic forecasting institution, projects the global economic growth rate to be minus 3%, and the WTO forecasts a 13 to 32% decrease in global trade volume, indicating that difficulties are expected to intensify.

Assemblyman Yoon Jae-gap stated, “The government recognized the importance of the shipping industry last May by designating it as an essential industry and has been doing its best to overcome the crisis by introducing various support measures. However, there are limits to overcoming the crisis in the shipping industry, so I proposed this resolution to urge the competitiveness of the shipping and port industry.”

He added, “Through this resolution, I hope it will serve as an opportunity to strengthen the competitiveness of Korea’s shipping and port logistics industry and foster it as a future growth engine.”

The main contents of the resolution include preparing measures for coexistence and cooperation between major cargo owners and shipping logistics companies as stipulated in Article 24 of the Shipping Act to promote the sound development of the shipping logistics market and strengthen cooperation between shipowners and cargo owners, as well as institutional support measures to revitalize third-party logistics.