Korea Ocean Business Corporation "Expanding Financial Support for Terminals and Logistics Facilities"

KOBC 2030 VISION Proclamation Ceremony

The Korea Ocean Business Corporation recently held the ‘KOBC 2030 VISION Declaration Ceremony’ at Park Hyatt Busan, presenting a 10-year development direction on four themes: finance, policy, information, and ESG (environmental, social, and governance), the corporation announced on the 27th.

The event was attended by various figures including Song Sang-geun, Vice Minister of Oceans and Fisheries; Ahn Byung-gil, Member of the National Assembly; Kim Yang-su, President of the Corporation; Jeong Tae-sun, Chairman of the Korea Shipping Association; Kim Kyung-bae, CEO of HMM; Kim Jeong-hoon, CEO of Hyundai Glovis; and Kang Shin-ho, CEO of CJ Logistics.

The corporation stated that it prepared the 2030 VISION to proactively respond to future market changes such as strengthened international environmental regulations and digital-based competition, and to set a future development vision for the corporation, which is now in its fifth year, aiming to become a leading nation in the shipping industry.

Specifically, first, to support the growth of the maritime industry and revitalize it through expanded financial supply, financial support for terminals and logistics facilities will be expanded, and continuous support will be provided to expand the national fleet, including shipowner businesses. Second, to respond to international environmental regulations targeting carbon neutrality, the scale of the newbuilding investment program will be expanded to up to 3 billion dollars in the future, strengthening support projects for the eco-friendly transition of shipping industry assets.

There is a plan to develop into a future shipping information think tank by qualitatively enhancing shipping market forecasting and analysis capabilities and establishing an integrated shipping-port logistics platform. Lastly, as a strategic goal to realize management trusted by the public, the corporation will strengthen public happiness realization and transparent ethical management as a public institution.

Kim Yang-su, President of the Korea Ocean Business Corporation, said, "By 2030, the Korea Ocean Business Corporation will become a world-leading maritime finance leader, supplying finance and information necessary for the growth of the maritime industry in a timely manner, and will be reborn as a public institution loved by the people by receiving the highest ESG rating in the public sector."