[2022 National Audit] Cho Seung-hwan, Minister of Oceans and Fisheries, "Will Create Conditions for HMM Privatization"

Cho Seung-hwan, nominee for Minister of Oceans and Fisheries, is attending the confirmation hearing held at the National Assembly on the 4th, responding to questions from lawmakers. Photo by Yoon Dong-joo doso7@

[Asia Economy Sejong=Reporter Dongwoo Lee] Cho Seung-hwan, Minister of Oceans and Fisheries, stated on the 6th regarding the privatization of HMM, "We will focus on creating conditions for the transfer of management rights to the private sector in consultation with related agencies such as the Financial Services Commission."

Minister Cho made these remarks during the Ministry of Oceans and Fisheries' national audit briefing held at the Sejong Government Complex on the same day before the Agriculture, Forestry, Livestock, Food, and Maritime Affairs Committee.

Minister Cho emphasized, "The shipping industry has recovered to the level before the bankruptcy of Hanjin Shipping, recording shipping sales of 50 trillion won in 2021 and an ocean container fleet capacity of 1.05 million TEU (twenty-foot equivalent units), including newly constructed vessels. We will actively support the shipping industry to lead the world once again."

Regarding the discharge of contaminated water from the Fukushima nuclear power plant, he said, "We will expand radiation surveys in our waters in preparation for the possibility and strengthen radiation safety inspections of seafood."

He also stated, "To strongly respond to illegal fishing by China, we will newly deploy large fishing patrol vessels of 3,000 tons or more to firmly establish our fishing sovereignty. In preparation for the possibility of contaminated water discharge from Japan's Fukushima nuclear power plant, we will expand radiation surveys in our waters and strengthen radiation safety inspections of seafood."

Concerning marine ecosystem management, he reported, "We will create clean and sustainable coastal areas, enhance the value of the marine ecosystem through the expansion of marine protected areas and the release of dolphins into the ocean. We will also strengthen the maintenance of coastal areas vulnerable to natural disasters, including those severely damaged by recent typhoons such as 'Hinnamnor.'"

Minister Cho added, "We will support the growth of marine bio, marine energy, and maritime transportation industries as new growth industries and strengthen capabilities in the marine science sector."