'KSIM' launched as the first Korean vessel investment & management firm

"May I have your attention, please? From now on, we, KSIM, will take charge of your vessel introduction through to its repair and management, will you?" The Korea Ship Investment & Management Co., (KSIM), the first Korean company to handle exclusive ship investment and management, held its founding ceremony in the Plaza Hotel on August 8th.
Shinhan Capital Co., Ltd., which has been supporting vessel loans, as well as seven leading domestic and overseas shipping companies such as Sinokor Merchant Marine Co., Ltd, Seyang Shipping, Dong-A Tanker Co., Ltd, Fearnleys Korea Ltd, a Filipino shipping company, True North Maritime and Sunwoo Shipping Co., Ltd, started the business with a capital of 500 million won. Sunwoo holds 25% of shares, while Shinhan Capital has 17%, Sinokor Merchant Marine 15%, Seyang Shipping 15%, Dong-A Tanker 13%, True North Maritime 10%, and Fearnleys Korea 5%.
The company already introduced 'Sun Asia' a 9,100 ton chemical tanker last July 25. The vessel was on long-term charter to Sunwoo shipping for 5 years. It is also recruiting crews for a 22,000 ton wood chip carrier scheduled to be introduced in mid-August by the Park Road Corporation. While selecting good vessels every quarter, KSIM plans for this vessel to be chartered to a competent shipping company on a long-term basis.
Mr. Inhyun Jeong, president of KSIM Co., revealed that it was internationally formed for a vessel to break up its possession, management and operation independently. He continued to proclaim that KSIM would keep vessels at their best value with minimum costs.
KSIM has its main office on the 3rd floor of the Dongwon Bldg, Dangjoo dong, Jongno-gu, Seoul, while a branch office for crew and vessel management is in Pusan.