News / Korea unveils multibillion dollar package to boost domestic shipping sector

The South Korean government has launched a major support package for the domestic container shipping industry.

“The strategy for becoming a leading maritime nation” was announced by the Ministry of Oceans and Fisheries (MoF) on 29 June, as HMM finalised orders for a dozen 13,000 teu ships.

The MoF said shippers among Korea’s small and medium enterprises could get freight subsidies of up to 20%, if they signed long-term shipping contracts.

Describing this as a win-win solution for liner operators and shippers, MOF said ...