Korean tech firm eyes bust yards

NK, a Korean maritime tech firm best known for ballast water management systems, is looking to branch out into the shipyard business.

The Busan firm has convened a shareholders meeting for March 24 to change its articles of incorporation to include “construction, conversion and repair of vessels”.

With a number of Korean yards going bust there is a chance to snap out facilities on the cheap this year.

Founded in 1980, the Korean firm changed name to NK in 1998, listing in Seoul 10 years later.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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