Korea Ocean Business Corporation Hosts the 5th Shipping New Business Idea Competition

The Korea Maritime Promotion Corporation announced on the 28th that it will hold the "5th Shipping New Business Idea Competition" open to the entire nation.

Now in its fifth year, the competition was established to listen to the creative ideas of the public for improving the corporation's existing projects and discovering new businesses, and to practically reflect these opinions in its operations.

The contest covers four categories: shipping port logistics, shipping finance, shipping information, and ESG (environment, social, governance) management. Any Korean citizen with new ideas in these fields, including university students and industry professionals, is eligible to participate.

Those wishing to participate can download the application form from the "Public Participation Sea" section on the corporation's website, fill it out, and submit it online. Applications will be accepted from today until 2 p.m. on August 19, for approximately two months.

The first round of document screening and the second round of presentations will comprehensively consider the feasibility, business potential, creativity, and sufficiency of the ideas. A total of eight teams will be selected as candidates for the corporation's new business review, including one grand prize winner (Minister of Oceans and Fisheries Award and a prize of 3 million KRW), two excellence awards, and five encouragement awards.

A representative of the corporation stated, "Through the 5th Shipping New Business Idea Competition, we ask for the public's great interest and participation so that highly practical ideas that can invigorate the shipping port logistics industry and the shipping finance sector as a whole can be discovered."