Suhyup Bank and Korea Ocean Business Corporation Join Forces to Support Small and Medium-Sized Coastal Shipping Companies

Operation of Financial Consultation Channels
Launch of New Agreement Guaranteed Loan

On August 22, Sh Suhyup Bank announced that it had signed a "Financial Business Agreement for Expanding Financial Support to Small and Medium-Sized Coastal Shipping Companies" with Korea Ocean Business Corporation.

The business agreement ceremony, held at the Seoul office of Korea Ocean Business Corporation in Yeouido, Seoul, was attended by Shin Hakgi, President of Suhyup Bank, Ahn Byunggil, President of Korea Ocean Business Corporation, and other key officials from both organizations.

Through this agreement, Suhyup Bank plans to establish an organic cooperative network with Korea Ocean Business Corporation and provide specialized financial services to selected qualified small and medium-sized coastal shipping companies. These services will include operating financial consultation channels, offering preferential interest rates, and providing comprehensive financial consulting.

On the 21st, Shin Hakgi, President of Suhyup Bank (right), and Ahn Byunggil, President of Korea Ocean Business Corporation, who attended the business agreement ceremony held at the Seoul office of Korea Ocean Business Corporation in Yeouido, Seoul, are taking a commemorative photo after signing the agreement. Photo by Suhyup Bank

Meanwhile, prior to this agreement, Suhyup Bank launched a new product called "Sh Coastal Shipping Company Agreement Guaranteed Loan," which supports small and medium-sized coastal shipping companies based on guarantees from Korea Ocean Business Corporation. The agreement guaranteed loan provides preferential interest rates of up to 0.5 percentage points for companies that have received a guarantee from Korea Ocean Business Corporation, supporting the introduction of new or used vessels or providing operating funds necessary for shipping company management.

President Shin stated, "I hope that with the Sh Coastal Shipping Company Agreement Guaranteed Loan, coastal shipping companies, which are a key pillar of Korea's logistics and transportation, will not face management difficulties due to interest burdens. As Korea's leading specialized maritime and fisheries bank, Sh Suhyup Bank will continue to do its utmost to vitalize ship finance and contribute to the development of Korea's maritime industry."