Seoulful Solutions

Korea’s ship finance scene has witnessed a wave of important new developments of the past months. A recent visit to several key Korean financial institutions yielded some interesting insight into how the ship finance market in that country is rapidly evolving and where future opportunities may be under development.

Korea Development Bank (KDB) is rapidly preparing for its privatization in the next year. 110 experienced staff have been transferred from KDB into “grandparent” company Korea Finance Corporation (KoFC). These include Mr. DongHae Lee, who many may know from his previous role as Team Head of Shipping Finance at KDB where he played a key role in developing the Let’s Together Fund as well as in other transactions such as Marine Money 2009 Bank Debt Deal of the Year winners KOGAS I and KOGAS II. Mr. Lee has taken up as General Manager, Global Finance Department at KoFC. He is joined by Mr. Yongsung Yim, now International Finance Team Head, Global Finance Department at KoFC.

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