- South Korea said Tuesday it has agreed with HMM Co., the country’s largest shipper, to provide shipping services to North America.
- It is for agricultural exporters amid rising demand for cargo services that stemmed from the global economic recovery.
A Korean Herald news source by Yonhap says that S. Korea expands shipping service for farms goods.
HMM offers cargo space
Under the agreement, HMM will offer 265 TEUs of cargo space for agricultural and fishery products every month, according to the Ministry of Agriculture, Food and Rural Affairs.
TEU, or twenty-foot equivalent unit, refers to the unit of the capacity of a container ship.
Shipping service to begin soon
The shipping service is expected to begin Saturday.
The move came as South Korean exporters have been facing tight shipping services amid the recovery of the global economy.
South Korea’s exports of agricultural and fishery products came to $5.4 billion in the first half of 2021, up 15 percent from a year earlier.
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Source: Korean Herald
