Monday, December 24, 2012

[Ship Building] New regime, "Positive for Yards"

 New regime, "Positive for Yards"

Korea Investment & Securities forecasts Park Geun-Hye's election as president would be positive to shipbuilding, oil industries, etc.

Particularly, president-elect Park Geun-Hye has made a pledge to build a ship finance corporation, which will give a positive impact on shipyards and marine equipment makers in securing funds as well as help local shipbuilders winning more orders.

On November 9, she visited Busan and promised to establish a ship finance corporation and promote Busan to become a major ship financing center in the Northeast Asia, which would help Korean shipbuilders making long-term investment and winning steady newbuilding orders.

Moreover, president-elect Park pledged to expand financial support through the Export-Import Bank of Korea, etc. She promised to help making earlier decision of small-and-medium sized shipyards' management normalization plan and to upscale the amount of insurance acquisition of Korea Trade Insurance Corporation (K-sure), which make easier for yards in securing refund guarantee.

Published : December 21, 2012

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