The South Korean Ministry of Oceans and Fisheries (MOF), the Korea Maritime Promotion Corporation, and five local shipping companies have entered into an agreement to establish a national shipping alliance.
The new alliance seeks to improve the competitiveness of South Korean shipping liners in the Southeast Asia freight market.
The shipping companies that are part of the alliance include HMM, Pan Ocean, Heung-A Shipping, SM Line, and Sinokor Merchant Marine.