Korea pumps USD 1.2 billion into ailing shipping sector

A new fund financed by private and state-owned banks will make more than USD 1.2 billion available in aid to South Korea's struggling shipyards and carriers.

BY OLE ANDERSEN

The South Korean government will establish a new fund with a total of USD 1.2 billion aimed at supporting the country's ailing shipbuilders and carriers, report several Asian news outlets.

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