South Korea finance minister says govt to infuse funds to support local shipbuilders
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
[SEOUL] South Korea's finance minister said on Monday the government planned to support orders of 250 or more vessels by 2020 to help local shipbuilders.
The minister also said in a statement that South Korea would provide policy financing of 6.5 trillion Korean won (S$7.89 billion) in total so that local shipping firms could acquire new vessels that are competitive.
The government announced measures to support local shipbuilding and shipping industries following the collapse of Hanjin Shipping Co Ltd, which applied for court receivership at the end of August.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
