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Korea Ocean Business Corporation to enter ship leasing

The Korea Ocean Business Corporation (KOBC), a state-run entity aimed at supporting the local shipping and shipbuilding industry, is looking to enter the ship leasing business.

South Korea’s Ministry of Oceans and Fisheries has made plans to turn KOBC into a shipowning company to lease ships to South Korean shipping companies, and a budget of KRW100bn ($91.7m) has been allocated for 10 ships that are scheduled for next year. 

KOBC plans to increase its fleet to 50 ships by 2025 and establish a subsidiary for the operations of the ships.

KOBC was launched in 2018 and since then has provided several rounds of financial support packages for the fleet renewal programs of domestic owners.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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