Korea Ocean Business Corp. (KOBC) has opened its first overseas branch in Singapore’s central business district to expand its maritime financing ecosystem.
KOBC said on Dec. 4 that the corporation inaugurated its first overseas branch to accelerate efforts to build a global maritime financing ecosystem, establish a field-oriented corporate support system and expand its global financing network.
According to KOBC, Singapore is the world’s No. 1 transshipment port and the world’s largest maritime cluster of more than 200 global shipping companies.
The island country is a core area in which ship fare trading, ship buying and selling and financial contracts are done in real time.
It serves as a gate of investments in Southeast Asia, being stacked with global company regional headquarters as an international hub of major financial institutions and investors.
KOBC’s establishing of a branch in Singapore is a strategic move to leverage its business characteristics and global market environment conditions.
KOBC has established a system to raise foreign currencies, with a focus on Asian financial circles. Singapore has already served as KOBC’s center to raise funds.
It is evaluated to allow KOBC will carry out responsibilities, such as hosting local IR sessions and a look into market trends in a swift and proactive fashion.
KOBC’s branch will offer direct and field support to Korean shipping and logistics companies’ foreign market entry.
KOBC plans to help national carrier shipping companies conduct overseas business activities via its branch in Singapore, explore investment projects in Southeast Asia, and expand cooperative networks with local financial institutions and investors.
In particular, KOBC plans to make the most of Singapore’s financial markets to expand foundation for raising foreign currency funds.
In a related development, the corporation struck an MOU with the Development Bank of Singapore Limited (DBS), Southeast Asia’s largest financial institution.
Both sides agreed to support local financial activities in Singapore, spur ESG financing and ramp up financing cooperation for supporting the shipping and logistics industries.
KOBC discussed issues, such as a carbon credit trading system and global ESG financing trends as well as ways of building a maritime financing platform in the future with Singapore Exchange (SGX).
Starting with the establishment of a branch in Singapore, KOBC plans to expand global financing and shipping networks step by step.
The corporation, seeking to set up a branch in New York in 2026, plans to expand its overseas networks to major global financing and shipping centers. The step is designed to help KOBC build a multi-channel support system so that Korean shipping and logistics companies can grow in global markets in a stable fashion.
KOBC President Ahn Byung-gil said, “Singapore is a strategic center in which KOBC can raise its global capabilities one step higher, and starting with Singapore, we will expand our overseas networks to major centers, such as New York and London so that we can carry out practical roles to help Korean national carrier shipping and logistics companies ramp up their overseas business capabilities, and they can secure competitiveness in global markets.”
KOBC President Ahn Calls for Transforming Shipping Industry Constitution and Expanding Maritime Territory
In his New Year message on Jan. 1, KOBC President Ahn Byung-gil said, “In the New Year of 2026, KOBC will transform the shipping industry’s constitution and expand Korea’s maritime territory, going beyond simple fund supply, based on the direction of top four strategies and 12 strategic tasks.”
First, President Ahn called for spearheading the green and digital paradigm shift in the seas for the next generations.
“We will proactively cope with stiffening of international environment regulations by supporting eco-friendly transition, and overcome decarbonization regulation barriers by establishing a financial support regime for off-shore wind power infrastructure. KOBC will also offer a helping hand to maritime companies’ AI transformation, and will raise our competitiveness by ramping up our AI capabilities.”
President Ahn said, “We will dramatically expand our maritime financing territory beyond ship financing, starting with the launch of eco-friendly ship fractional investment through innovative financing methods, such as security token offering (STO), we will made strenuous efforts for laying a foothold so that a shipping derivatives exchange can be opened in 2028, as President Lee Jae-myung promised at a recent ceremony to open MOF’s office building in Busan.”
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