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Korea Ocean Business Corporation
- Introduction to KOBC
- Main Business
- Investor Relations
- Public participation
- ESG Management
Introduction to KOBC
Main Business
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Support to secure ships (Investment Program)
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Container box investment program
Secondary preservation/special guarantee program for environment-friendly facility improvement
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Investment program for port terminals and logistics facilities
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Management support for the shipping industry(Covid-19 support)
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Shipping policy business operation
Support for conversion to environment-friendly ship
Certified Excellent Shipping Company and Shipper
Operation of National Essential Ships
Seaborne freight announcement system · Shipping transaction unfair act reporting center
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Training industrial specialists
Cultivation of manpower for shipping finance · shipping, port logistics
Investor Relations
Public participation
ESG Management
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Main Business
Maritime Finance Global LeaderShip refinance guarantee program
Ship re-financing
guarantee
The Ship Refinancing Guarantee Program is a guarantee business by which the KOBC provides debt guarantee to secure previous default of creditors of shipping companies if ship owners wish to borrow new funds for borrowing or repaying borrowed funds from creditors (financial institutions, etc.), with ships owned by domestic shipping companies as collateral.
Feature and Benefit
- Lower interest rate by refinancing the existing high-interest ship finance by the KOBC.
- Secure liquidity of shipping companies using ships as collateral
Main guarantee conditions
| Classification | Details |
|---|---|
| Guarantee beneficiary | Creditors of main debt contract (financial institution that handles loans) |
| Guarantee period | Within financial period of main debt |
| Guaranteed amount | Financial amount subject to guarantee |
| Guarantee ratio | Financial amount subject to guarantee |
| Guarantee amount | 95% or more |
| Guarantee rate | Guaranteed amount×guarantee ratio |
| Guarantee fee | Basic rate × (1 ± discount/premium rate (considering project feasibility and policy factors)) |
| Guarantee debt* | Guarantee amount × Guarantee rate |
| Guarantee debt* | The amount of outstanding principal multiplied by guarantee ratio and equivalent of outstanding interest |
| Installment requirement* | Criteria for lump-sum payment of guarantee fee: Prior guarantee fee of KRW 2.5 billion or more posterior guarantee fee of KRW 2 billion Guarantee period: 6 years or more (Small and medium-sized shipping companies: 2 years or more) * Both requirements must be met, and small and medium-sized shipping companies can be applied with eased installments |
※ For more details, refer to the KOBC’s guarantee agreement Ⅱ at the time of consultation.
