The Korea Ocean Business Corp. (KOBC), a state-run entity, has announced a significant investment of 3.4 trillion won (US$2.4 billion) for the current year, reports Yonhap News Agency.
Key Aspects
The Korea Ocean Business Corporation (KOBC) has outlined a plan to invest significant funds in various maritime-related initiatives. Key aspects of the plan include:
- Shipbuilding Support: 2.1 trillion won will be allocated to provide financial assistance to shipbuilding efforts.
- Harbor Logistics Infrastructure: 730 billion won will be invested in developing infrastructure for harbor logistics.
- Eco-Friendly Vessels: 340 billion won will be used to fund projects focused on building eco-friendly vessels.
- Crisis Response Fund: 1 trillion won will be added to the existing 1 trillion won Ocean Ministry crisis response fund.
- AI Data Platform: 13 billion won will be invested in creating an AI-based data platform to provide ocean information to local businesses.
International Shipping Exchange
In addition to its investment plans, the KOBC is also aiming to establish an international shipping exchange to facilitate the trading of ocean industry derivatives, including carbon emission trading and nature-friendly fuels.
Regarding the sale of HMM Co., KOBC CEO Ahn Byung-gil confirmed that discussions with the Korean Development Bank (KDB) are ongoing to find a suitable buyer. The KDB and KOBC, holding a combined 57.9% stake in HMM, are actively pursuing the sale. Previous negotiations with the preferred bidder, a consortium led by Harim Group, fell through due to unresolved differences.
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Source: Yonhap
