Moon checks and shares fruits of 5 year rebuilding project of Korean shipping industry

백종원 기자l승인2021.07.28







(PowerKorea) President Moon declared ‘shipping industry leader strategy’ June 19 at the new multi-purposed port of Busan, on the day of sailing the 1TEU 20 feet ship named Hanwool. Moon checked on results of shipping industry and discussed strategies on promoting the nation as the leader of global shipping industry. Moon said that South Korea started rebuilding the shipping industry 3 years ago and HMM receiving 20 orders of huge ships sparked the growth engine again and brought back our former glory of the leader’s status. 

South Korea’s shipping industry declined rapidly with bankrupt of Hanjin Shipping in February 2017. The Moon administration made the rebuilding of the industry as one of the national tasks and opened the Korea Ocean Business Corporation in July 2018 to push forward its 5 year rebuilding project with 6 trillion won ($5.3 billion) liquidity. 

Moon pointed out the very result of HMM receiving 20 orders of huge ships which turned the company surplus from deficit in 10 years with record high 1 trillion won operating profit in the first half of this year. He expected the total profit of the shipping industry would recover the equivalent of before Hanjin went bankrupt and predicted to make more than 70 trillion won sales by 2030. HMM CEO Bae Jae-hoon said on the day that the government’s 5 year rebuilding project laid a great foundation for Korean shipping industry to sail through again and he would work hard to complete the national goal to be the leader of global shipping industry. 

PowerKorea is an official partner of Herald Corporation. The magazine is distributed to the KOTRA business centers in the world. PowerKorea publishes latest news of government, Samsung, Hyundai and LG and endeavors to serve a platform to engage with people around the world.

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