The Landscape of Ship Finance in Korea

Shipowners throughout the world are cognizant of Korea’s position in shipbuilding but may be unfamiliar with the capital dynamics of the maritime sector within the nation. This article serves as a brief primer on the universe of ship finance in the peninsula. We can segregate the players in Korea principally into five classes: Commercial Banks and Leasing Companies, Institutional Investors, Export Credit Agencies, Builder’s Credit, and the Local Capital Market. Each one has its own characteristics and focus: Commercial Banks & Leasing Co. and Institutional Investors (as classified in this article) offer capital for all tranches of vessel finance; Export Credit Agencies follow a solely international purview per OECD guidelines; and the Local Capital Market serves local shipowners.

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