Introduction to KOBC
Main Business
Investor Relations
Public participation
ESG Management
Search
What information do you need from KOBC?
Popular search terms
Main Business
Maritime Finance Global LeaderGovernment Commisioned Program
National Essential Fleet Program Management
The Essential National Fleet Program is a system designed to ensure the stable transportation of essential goods for the national economy and strategic materials during national emergencies, while also promoting employment stability for Korean crews.
KOBC supports the Ministry of Oceans and Fisheries by systematically carrying out the overall operation of the program, including the designation and management of essential national vessels and the provision of loss compensation.
Key Features & Benefits
- Securing shipping continuity to ensure that the maritime transportation of essential goods is maintained even during national emergencies, thereby sustaining a stable maritime logistics system vital to the national economy and public welfare.
- Contributing to employment stability in the maritime workforce by mandating the boarding of Korean crews, while strengthening the stability and reliability of the program through systematic management of vessel designation, operation, and compensation.
Overview
| Classification | Details |
|---|---|
| Target Vessel | Vessels under 20 years of age and with a gross tonnage of 10,000 (GT) or more |
| Obligation | A minimum of 10 Korean crew members onboard |
| Incentive | - Compensation for wage differentials between Korean and foreign crew members - Partially reduce port facility usage charges (ship entry/ departure fee) |
| Payment terms of compensation for loss | - Annual compensation provided for vessels operating 320 days or more per year *Applicable from the point at which the requirement of at least 10 Korean crew members onboard is met - For operation of less than 320 days, payment shall be made in proportion to the actual number of operating days based on 320 days. |
Application process
Korea Ocean Business Corporation(Main Business : Receive and review applications related to designation and operation of National Essential Ships, Calculation and payment of Compensation for Loss, Training on the role of National Essential Ships)
National shipping company→Korea Ocean Business Corporation:①Application for designation and operation of National Essential Ships
Governmental Agency (Ministry of Oceans and Fisheries)→Korea Ocean Business Corporation:②National Essential Ships designation and approval for operation
Korea Ocean Business Corporation→National shipping company:③Notification of application result, payment of Compensation for Loss
Certified Excellent Shipping
Company and Shipper
We, KOBC(Korea Ocean Business Corporation), certify excellent shipping company and shipper and provide a variety of incentives to prevent unfair practices and to induce their mutual cooperation. We has been designated as a certification center by the Ministry of Oceans and Fisheries and operates as CESS(Certified Excellent Shipping Company and Shipper).
Feature and Benefit
- Inducing continuous cooperative relationships through strengthening competitiveness of national shipping companies and mutual growth of shipping company and
shipper - Evaluate services and fairness of shipping company & shipper and grant certification and provide various incentives
Main condition
| Classification | Details |
|---|---|
| Subject |
|
| How to apply | Submit an application form and required documents to the CESS center in person or by mail |
| Certification criteria | Certify when 70 points or more as well as minimum 20% or more of each evaluation item |
| Certification grade | 1st grade: evaluated 80 points or more, 2nd grade: evaluated 70 points or more |
| Main incentive |
|
Application process
Applying companiesCertification application→application reception/document reviewCertificate receiving
Korea Ocean Business Corporationapplication reception/document review→Composition of Certification Evaluation Committee (3 people) - Document review and on-site inspection→Review by Certification Evaluation Committee-Review for adequacy of certification evaluation result
Ministry of Oceans and FisheriesApproval for a certified company→Certificate issuance