Economy

Trade Ministry signs MOU with Greek Shipping Ministry

The Ministry of Trade, Industry and Energy reached a memorandum of understanding with the Greek Ministry of Shipping and Aegean to collaborate and exchange shipbuilding technology. Korean Trade Minister Yoon Sang-jick and Greek counterpart Miltiadis Varvitsiotis held a meeting yesterday local time to finalize the MOU. They also scheduled a joint forum in which Korea’s five major shipbuilders and 15 shippers and shipbuilding material manufacturers will participate.

Greece is the largest buyer of Korean vessels, with up to 30 percent of its annual purchases coming from here. The country is the world’s largest shipping industry with 4,894 units owned as of this year.