Incheon Port Authority (IPA) is offering around US$6 million of loans to shipping companies and forwarders hit by high bunker costs.
Incheon, the main gateway to the Seoul metropolitan area in South Korea, is the country’s second-busiest container port after Busan.
The Shared Growth Mutual Fund is a low-interest financing support program that the Incheon Port Authority has been operating since 2019. Through agreements with three commercial banks (Hana Bank, Suhyup Bank, and Industrial Bank of Korea), the program provides preferential loan interest rates averaging approximately 1.52%.
This content is locked
Select a CN Premium Subscription Package To Unlock The Content!
