SM Merchant Marine has signed a Memorandum of Understanding (MoU) with the Korea International Trade Association to expand overseas export routes for domestic small and medium-sized enterprises (SMEs).
SM Merchant Marine, an affiliate of SM Group's shipping division, decided to participate in this ship support in order to fulfill its responsibilities as a national shipping company while domestic SMEs continue to suffer from shipping delays due to port congestion caused by Covid-19.
The Seoul-based shipping company is expected to support SMEs, providing them with sufficient shipping capacity at reasonable rates.
Since last year, SM Merchant Marine has been supplying ships to the market by putting all available ships on the route, including those that are re-shipped after the presidential election, according to the company's statement.
"As a national shipping company, it is natural to help Korean small and medium-sized enterprises that are suffering greatly from the unprecedented global shipping and logistics crisis," commented SM Merchant Marine CEO, Park Ki-hoon.
According to the agreement, the export volume will be allocated from SM merchant ships departing from Busan Port at the end of June.