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Public-Private Partnership to Explore Future Development Strategies for the Shipping Sector

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- Vice Minister Park Sung Hoon of Oceans and Fisheries, Holds a Policy Roundtable with Representatives of National Shipping Firms -



  On August 16th, Vice Minister Park Sung Hoon of Oceans and Fisheries met with representatives of major national shipping firms at the Korea Shipowners’ Association in Seoul to share the latest trends in shipping and to discuss the directions of shipping and logistics policies. The roundtable was attended by representatives of 10 shipping companies and the Korea Ocean Business Corporation, a policy financing institution for the shipping sector.



 During the meeting, the Ministry of Oceans and Fisheries shared recent shipping freight price trends, the results of last year’s “Plans to Strengthen the Competitiveness of the Shipping Sector in Response to Market Fluctuations,” upcoming plans to introduce public ship ownership programs and revitalize private investment. In addition, the industry briefed the audience on the difficulties caused by recent declines in operating profits and asked for active interest and support from the government.



 Vice Minister Park explained that “the government is focusing its policy capabilities to proactively respond to rapid changes in the shipping sector, such as lifting the greenhouse gas emission reduction targets under the International Maritime Organization and to resolve imbalances in the supply of and demand for seafarers.” He also asked “the shipping companies to prepare thoroughly and pursue innovation based on bold decisions to proactively respond to the changes in the global shipping market.”