Cooperation Seminar for Joint Growth of the Korea Maritime Industry

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Expansion of maritime, shipbuilding, port,
and finance via private-public collaboration

Korean opinion leaders in search of the future of the maritime industry

Representatives from the maritime sector have gathered in Busan to discuss development of the Korea maritime industry in Busan, the maritime city. The ‘Opinion Leader Consultative Group of the Maritime Industry’, which is the subject of the seminar, was launched in 2015 by various professional organizations of shipbuilding, shipping, port, and financial sectors to serve as a think tank in the marine sector through free communication and information exchange.

Sixteen participating organizations from various industries, including shipping, shipbuilding, port, and ship finance, have been sharing pending issues and communicating and cooperating with each other through a series of regular meetings. In that sense, the seminar was held for more in-depth discussions to that effect.

Global competitiveness of the maritime industry – Where can we find it?

In the seminar, we discussed strategies and win-win plans under the theme of responding to environmental regulations of the IMO (International Maritime Organization) by introducing international ocean carriers, new shipbuilding, strengthening competitiveness, and stimulating domestic ship financing.

Currently, the global shipping industry is in full swing with environmentally-friendly, super-sized ship orders as well as mergers and acquisitions. Therefore, it is urgent that competitiveness be secured through fleet expansion to create a win-win relationship between shippers, ship owners, and shipyards.

It has been argued that strong support from the government is needed to increase global competitiveness of the maritime industry and preemptively respond to changes in international environmental regulations, and that participation of local and commercial banks should become more active.

It is expected that the pace of reflecting the policy will be even faster as the opinions of each sector are revealed.

Want to learn more about Korea’s maritime industry policy?
Contact Maritime Insight

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