KMI, BFC Hold 3rd K-Maritime Finance Innovation Forum to Discuss Role in Decarbonization Era

[Financial News] The Korea Maritime Institute (KMI) and the Busan International Finance Center (BFC) held the 3rd K-Maritime Finance Innovation Forum at the center’s headquarters on the 7th, they announced on the 8th.
The forum was launched in March to promote the development of Busan, Ulsan, and South Gyeongsang Province as a maritime capital region through maritime finance innovation and to strengthen the competitiveness of Korea’s maritime industry. Experts from the shipping, shipbuilding, finance, and research sectors participate in the forum to share key issues facing the maritime industry and discuss financial support and cooperation measures.
The third forum was held under the theme “The Maritime Industry’s Eco-Friendly, Decarbonization Transition and the Role of Finance.” It reviewed key conditions and challenges in shipping, shipbuilding, and fuels resulting from the decarbonization transition. It also provided an opportunity to explore ways to build Korea into a maritime powerhouse through specialized maritime finance.
The forum proceeded with three thematic presentations, a comprehensive panel discussion, and an open discussion among participants. In the first presentation, Chun Kang Woo, a professor at Korea Maritime & Ocean University (KMOU), explained the current status of maritime technology development for reducing carbon emissions, focusing on International Maritime Organization (IMO) regulations for the shipping industry, as well as the characteristics of alternative fuels such as methanol and hydrogen.
Kim Byung-geol, a team leader at Korea Development Bank (KDB), then presented directions for designing energy-efficient ship finance and performance-based policy finance that reflect decarbonization achievements in financial terms. In the third presentation, Kim Myung-hee, a center director at the BFC, analyzed the development stages of Singapore’s bunkering platform and presented the role of finance at each stage under the theme “Building a Platform to Promote Eco-Friendly Bunkering at Busan Port.”
During the ensuing discussion, participants agreed that the maritime industry’s decarbonization transition is not merely a response to environmental regulations but a key challenge that will determine the future competitiveness of the shipping and shipbuilding industries and ports.
KMI Director Cho Jung-hee said, “The decarbonization of the shipping and shipbuilding industries cannot be achieved through the efforts of individual companies alone. It is a challenge that requires cooperation across the entire industrial ecosystem.” Cho added, “Based on the various cooperation measures discussed at this forum, our institute will also work to ensure that the shipping and shipbuilding industries secure a competitive edge during the transition to an eco-friendly, decarbonized future.”
[email protected] Byun Ok-hwan Reporter