South Korea is to turn its ship finance fund, Korea Ocean Business Corp (KOBC), into a major shipowner to combat vessel shortages and spiralling rates.
The Ministry of Oceans and Fisheries is eyeing a change in strategy for the company, formed in 2018 to provide newbuilding backing for domestic owners.
A budget of KRW 100bn ($92m) has already been earmarked for sale-and-leaseback deals.
