Yoon Hee-seong, president of the Korea Export-Import Bank, noted that he will strengthen ship financing support this year to actively support the recovery of the shipbuilding industry.
On the 6th, President Yoon attended a naming ceremony for two ammonia dual-fuel vessels held at HD Hyundai MiPO in Ulsan and said, "This year's ship financing plan has increased by 1 trillion won compared to last year, totaling 12 trillion won."
Previously, Exmar, a gas transportation company from Belgium, ordered four ammonia dual-fuel vessels and two liquefied petroleum gas (LPG) dual-fuel vessels from HD Hyundai MiPO. The Korea Export-Import Bank provided financing of $170 million out of the total order amount of $470 million.
President Yoon noted, "In the ongoing fierce competition among the shipbuilding industries of Korea, China, and Japan, continuous development of new technologies and the virtuous cycle of market preemption are crucial to maintain the technological superiority of K-shipbuilding." He added, "We will promote the excellence of our shipbuilding industry to major overseas shipowners and provide strategic financial support to overseas clients that contribute to enhancing the competitiveness of domestic shipyards through eco-friendly and high-value vessel orders."
Kim Hyung-kwan, CEO of HD Hyundai MiPO, stated, "I hope that manufacturing financing for shipbuilding and domestic and foreign shipping companies will expand ship orders to our shipyards." In response, President Yoon said, "The Korea Export-Import Bank will do its utmost to ensure that this year confirms Korea's position as the global number one in shipbuilding by mobilizing all our capabilities."