17 year long maritime agreement between Korea and Thailand

Korean and Thailand government finally reached a maritime agreement at the third maritime meeting held in Bangkok on June 27 - 28, after 17 years of failing to come to terms.

This agreement is expected to pave the way for expanding sales activities in Thailand and to trigger entry to new markets in South East Asia.

Especially regarding this agreement, there were lots of Korean suggestions that there be a guarantee for the establishment of agents and branches. That would be helpful in improving Korean shipping companies' competitiveness.

"We will try hard to sign on this agreement as soon as possible and also keep trying to make agreements with other South East Asian countries in order to support Korean shipping companies' overseas sales activities," said MOMAF.