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Published on Oct 30, 2016
정부, 조선-해운업 경쟁력 강화 위해 2020년까지 공공선박 11조원 규모 발주키로
The government has rolled out plans to help Korea's cash-strapped shipbuilding and shipping industries by injecting billions of dollars into the sector.
The government has rolled out plans to help Korea's cash-strapped shipbuilding and shipping industries by injecting billions of dollars into the sector.
The move comes on the back of the recent collapse of Hanjin Shipping,... that applied for court receivership at the end of August.
Shin Se-min reports.
The Korean government says it's going to pump eleven trillion won, or nine-point-five billion U.S. dollars into the country's ailing shipping industries by 2020.
"As a short-term measure, the government will help local firms cope with falling global demand by getting them orders of more than 250 vessels by the end of the decade."
Such help could easily translate into a benefit worth several billion dollars.
The government's drive calls for upgrading the competitiveness and the profitability of the industry,… as the both sectors have been losing ground amid dwindling demand.
Order quantity slumped 87-percent on-year in the first nine months this year,… while weak international trade has crippled the global shipping industry,… with one of the world's largest cargo carriers Hanjin Shipping filing for court receivership in August.
The government said it'll also provide policy financing worth five-point-six billion dollars to help shippers turn their focus to high value-added services and acquire new vessels to boost competitiveness.
It also said the government will set up a separate state-backed ship financing company, starting with an initial capital of 871 million dollars, to better manage the financial health of Korean shipping firms.
On the local economic front, the government will support regions with a concentration of shipbuilders with one-point-four billion dollars by next year.
It'll also infuse an additional 870-million dollars over the next five years to create public works projects in the regions.
The government says the measures are in line with the nation's ongoing state-led corporate restructuring and structural reform plans.
Shin Se-min, Arirang News.
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