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26 April 2019 The on-line newspaper devoted to the world of transports 12:53 GMT+2

July 24, 2018

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Maritime the governmental initial contribution to the Korea Promotion Corporation will be of 1,2 billion dollars

The KMPC is constituted on 5 July in order to support the South Korean marine industry

Today the South Korean government has decided to invest 1,35 trillions of won (1,2 billion dollars) in the Korea Maritime Promotion Corporation (KMPC), the organism constituted 5th July and announced a year ago in order to support systematically national the marine industry that currently crosses a phase of crisis(on 25 August 2017). For the Corporation new a start-up capital of 3,1 trillions of won, of which 1,55 trillions of private capitals and 1,55 deep trillions of governmental is previewed.

About 1,35 trillions of won of resources for the Corporation announced from the executive of Seul they will be conferred through the cession to the KMPC of 12.7% of the capital stock of each of the four harbour authorities of the ports of Busan, Ulsan, Inchon and Gwangyang, whose total value is estimated in about 10,6 trillions of won. Remaining 200 billion the won of deep governmental initials in the Korea Maritime Promotion Corporation will be distributed cash.

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