South Korea rolls out Arctic vessel finance programme(opens in a new tab)
South Korea rolls out Arctic vessel finance programme
Event
South Korea rolls out Arctic vessel finance programme
South Korea’s Korea Ocean Business Corporation has launched an annual investment programme worth KRW120 billion (about $87 million) to finance ice‑capable vessels, covering both newbuildings and secondhand tonnage. The programme is open to Korean ship owners to boost the country’s Arctic shipping capacity.
Coverage
Google Alert: Arctic Splash 247 South Korea rolls out Arctic vessel finance programme(opens in a new tab)
South Korea’s Korea Ocean Business Corporation has launched a KRW120 bn ($87 m) annual programme that can finance up to 90 % of ice‑capable vessels, including newbuildings and secondhand tonnage, to serve the Northern Sea Route. The move follows PanStar Acro’s recent west‑bound Arctic run and is part of a broader effort to build a Korean‑controlled Arctic fleet and support domestic polar‑vessel technology development.