The South Korean government said it would provide support to those shipping lines in the country that seek mergers to bolster their market share and compete worldwide.
The government is studying various measures, including providing support for funding mechanisms that could facilitate acquisitions, the Ministry of Maritime Affairs and Fisheries said in a e-mailed statement Wednesday, without providing further details.
Hanjin Shipping is the only South Korean company among the world’s 10 biggest container shipping lines. South Korea seeks to help its shipping lines grow to more than 5 percent of the global fleet by 2016, from the current 3 percent. It would like to see two more of its companies to join Hanjin Shipping among the ranks of world’s biggest sea carriers.