Meeting Between Korea Shipping Association Chairmen and Korea Ocean Business Corporation Executives
Rising Demand for Ship Financing... Need to Increase Corporation Capital
The Korea Shipping Association and the Korea Ocean Business Corporation announced on the 21st that they held the '2025 Korea Shipping Association Chairmen and Korea Ocean Business Corporation Executives Meeting' on the 20th at the Shipping Building in Yeouido, Seoul, to discuss major industry issues.
Commemorative photo of the 2025 Korea Shipping Association Board of Directors and Korea Ocean Business Corporation Executives Meeting. Provided by Korea Shipping Association
Park Jeong-seok, Chairman of the Shipping Association, said in his greeting, "Recently, the shipping industry has highlighted eco-friendly and digital transformation as major tasks," adding, "To strengthen the global competitiveness of Korea's shipping and respond to related issues, close cooperation between the shipping industry and the Korea Ocean Business Corporation is essential."
Ahn Byeong-gil, President of the Korea Ocean Business Corporation, stated, "We need to integrate not only shipping but also ports and logistics to achieve global competitiveness," and added, "We will spare no support to help the shipping industry respond to the rapidly changing environment."
At the subsequent meeting, Yang Chang-ho, Vice Chairman of the Shipping Association, emphasized, "Due to the replacement construction of eco-friendly vessels, the demand for ship financing is expected to increase to about 60 trillion won by 2030 and about 100 trillion won by 2040," and stressed, "To prepare for this, it is necessary to establish a mid- to long-term plan to expand the Korea Ocean Business Corporation's capital from the current 5 trillion won to 10 trillion won."
In addition, the shipping industry proposed measures to support small and medium-sized shipping companies through shipowner businesses and long-term ship financing, provision of reasonable interest rates, and the establishment of support projects related to digital transformation. The Korea Ocean Business Corporation said it would actively review these proposals for reflection in related policies.
Meanwhile, attendees at the meeting included Park Jeong-seok, Chairman of the Shipping Association; Kim Gyeong-bae, CEO of HMM; Lee Seung-woo, Chairman of KSS Shipping; Kim Seong-ik, CEO of SK Shipping; Lee Hwan-gu, President of Heung-a Shipping; Han Hee-seung, Chairman of Polaris Shipping; Geum Chang-won, President of Janggeum Shipping; Han Su-han, CEO of Daehan Shipping; Jo Byeong-ho, CEO of Five Ocean; and Aeng Chang-ho, Executive Vice Chairman of the Shipping Association (all from the shipping industry). From the Korea Ocean Business Corporation, President Ahn Byeong-gil, Director of Marine Strategy Kim Hyeong-jun, and Director of Marine Finance Yoon Sang-ho were present.
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