The Korean government is stepping up efforts to revive shipping and shipbuilding by increasing new ship finance funds.
A pot of cash aimed at supporting owners in ordering vessels is being doubled to KRW 2.6 trillion ($2.24bn) so that Hyundai Merchant Marine (HMM) can sign up for at least five ships this year, according to deputy prime minister Yoo Il-ho, Business Korea reported.
HMM
