Korea Asset Management Corporation (KAMCO) announced on Sept. 19 that it signed a memorandum of understanding with the Korea Maritime Transportation Safety Authority (KOMSA) to remove blind spots in ship financing and promote a transition to eco-friendly vessels for Korean shipping companies.
The MOU was signed to support the adoption of eco-friendly vessels by Korean shipping companies through collaboration between KAMCO, a well-established ship financing support system, and the KOMSA, a specialized agency for responding to maritime environmental regulations.
By inking the MOU, the two organizations agreed to cooperate on the following areas - the pre-verification of legal environmental standards for new ships supported by KAMCO; exploring ways to address financial blind spots and support for eco-friendly new ships; and exchanging information on responding to global maritime environmental regulations.
Accordingly, KAMCO will utilize KAMCO Newbuilding Fund, which supports new vessel construction by shipping companies to work with the KOMSA to address a market gap created by private financial institutions’ reluctance to provide ship financing.
The company will also actively support the introduction of eco-friendly vessels by Korean shipping companies.
KAMCO and the KOMSA expect that this agreement will not only improve the financial structure of Korean shipping companies by alleviating their financial burdens but enhance profitability through efficient vessel operation and proactively lay the foundation for responding to environmental regulations.
This will fuel sustainable growth in the Korean shipping industry.
“As marine environmental regulations are strengthening to address the climate crisis, KAMCO has proactively collaborated to support Korean shipping companies,” KAMCO President Jeong Jeong-hoon said.
“KAMCO will continue to actively collaborate with relevant organizations to support the sustainable growth of the Korean shipping industry.”
KAMCO is actively playing an important role in the slumping ship financing market, providing 2.3937 trillion won in liquidity to the Korean shipping industry in a timely manner by establishing a ship fund for 135 vessels run by Korean shipping companies.
“KAMCO is actively utilizing cutting-edge technologies such as drones and augmented reality systems in its national property management,” said Kim Seok-hwan, general manager of KAMCO’s National Property Division.
“KAMCO will continue to innovate its work for the people by expanding and applying AI and other IT technologies across its operations.”
Cooperation with Korea Water Resources Corporation in AI Sector
KAMCO announced that it signed a business agreement for efficient asset management, including the utilization of AI, with Korea Water Resources at the Korea Water Resources Corporation Auditorium in Daejeon on Sept. 16.
This agreement aims to share AI-related technologies and data between the two organizations and enhance asset management efficiency based on this technology.
According to the agreement, the two organizations agreed to team up on the following area: improving the efficiency of public asset management using AI, sharing land-related data such as maps and photos, and improving systems.
Through the agreement, both organizations expect to proactively prepare for an AI era and proactively coordinate overlapping investments in related fields, contributing to the efficient management of public assets, increasing national revenue, and improving customer services.
Collaboration on AI-Powered Public Sector Innovation with FIS
KAMCO signed an MOU to jointly develop public sector innovation and AI technology with the Korea Fiscal Information Service at the FIS headquarters in Seoul, on Sept. 11.
The MOU aims to strengthen national asset management capabilities and jointly pursue global projects through collaboration in areas such as AI and data technology.
According to the MOU, the two organizations will enhance the efficiency of national property management by utilizing AI-powered change detection technology and enhancing data linkage systems.
They will also collaborate on projects to share national property management systems and know-how abroad.
Furthermore, they will promote public sector projects through websites, jointly carry out social contribution activities and engage in personnel exchanges to foster specialized talent.
_캠코 한국해양교통안전공단.jpg)
