The K-shipbuilding strategy, which unites shipping and shipbuilding, has put a brake on the rise in freight rates due to a monopoly in the European Union's review of shipbuilding companies' mergers.
The merger between Hyundai Heavy Industries Group and Daewoo Shipbuilding & Marine Engineering (M&A) must be approved by six countries, including Korea, the EU, China, Japan, Singapore, and Kazakhstan. Japan and South Korea have not received approval. The Moon Jae-in administration pushed for the Fair Trade Act not to be applied to the fixing of freight rates between shipping companies. .
Money Today reported on the 29th that the amendment to the Shipping Act has been confirmed to contain any interference with the Fair Trade Commission related to 'collusion between shipping companies'.
The EU stopped the investigation into the approval of the business combination between Korea Shipbuilding & Marine Engineering and Daewoo Shipbuilding & Marine Engineering, and when asked when the conclusion of the business combination could be reached, the EU said, “Since last July, the investigation has been suspended because the information requested by the Commission has not been provided. I did,” reported E-Daily on the 29th.
President Moon Jae-in said on the 9th, “The government has established a strategy to recover and grow together by linking the shipbuilding and shipping industries, rather than looking at shipbuilding and shipping separately. In order to overcome the bankruptcy of Hanjin Shipping, we established the ‘Five-Year Shipping Reconstruction Plan’ in 2018 and established the Korea Maritime Promotion Corporation to provide extensive policy and financial support to build national ships. By placing an order for 32 super-large container ships to shipbuilders, they secured their own national ships and provided them with jobs and jobs. There were voices concerned about oversupply, but I am proud that such a policy decision has become a win-win strategy to revive the shipping and shipbuilding industries at the same time,” he said at the K-shipbuilding vision and win-win cooperation declaration ceremony held at Samsung Heavy Industries in Geoje.
President Moon announced on June 29 that “by 2030, sales of more than 70 trillion won in the shipping industry and 50% of the world market for autonomous ships will be preempted.” I will lead the leap to become a world leader in the shipping industry," he said at the 'Declaration of a Strategy for the Realization of a National Shipping Industry Leader' held at Busan New Port.