Plan to build fostering committee to connect maritime affairs with shipbuilding

A mid and long-term based maritime industry development advisory committee was held April 10 in the grand meeting room at the Ministry of Maritime Affairs and Fisheries (MOMAF) in host of MOMAF minister, Jeong Woo-taek. Around 30 concerned experts including Minister Jeong, manager of the maritime logistics division at MOMAF, Mr. Seo Jeong-ho, and officials from Korean shipping and port industries participated there.

The highlighted parts of the maritime development plan related to the establishment of a committee to foster a connection between maritime affairs and shipbuilding, and a new maritime arbitration service.

This advisory committee went on with questions and answers about the plans from among those in attendance. They were satisfied with most of the plans, even though they asked for revisions or supplements to some areas including crew conditions and the new Ship Investment Company. In addition, they required cooperation between relative agencies and divisions.

Some participants pointed out that crew conditions play an important role in maritime development and should have some priority in the plan. Some asked to hurry and build a vessel-investment company system to make the acquisition of vessels for domestic shipping companies easier.

The MOMAF plan for mid and long-term maritime development stated the current situation and problems facing the domestic shipping industry, and proposed new visions and strategies.

The 20 homework involved; a fund to introduce a vessel investment company, tax system reforms through the introduction of the tonnage system, accounting system reforms, methods to connect shipping with shipbuilding, a Korean maritime arbitration service, a cruise industry development plan, Korean-Chinese trade development plan, and an active Inter-Korean maritime transportation plan.

MOMAF forecast, "If these projects go well, Korean vessel capacity will amount to 36 million dwt (dead weight tons), marking 5th place world wide. In addition, rates incomes for domestic shipping companies will reach $30 billion, allowing maritime occupancy to increase by 2 percent."