KLC anchors new corp. in Singapore

Korea Line Corporation announced on October 10 that it established a corporation in Singapore to increase capacity competitiveness and improve business support.

KLC invested 10 million dollars in the new Singapore corporation and plans to strengthen its tanker business and practice independent vessel operation and management.

One insider from the company said, "We set up the corporation according to the trend that large shipping companies of strong shipping nations including Japan and China moved their tanker business from their countries to Singapore to become more competitive." He also added, "We will create a global network by using the corporation and then become a famous energy resources shipping company to increase our tanker business competitiveness with infrastructure as an advanced shipping nation."