Event Celebrates 200th Release of Korean-Style Container Freight Index 'KCCI' with 'Guess the Index' Contest

[Financial News] To mark its 200th release, the Korean-style Container Freight Index (KCCI) has launched a prize event inviting participants to predict the composite index.

The Korea Ocean Business Corporation (KOBC) said on the 22nd that it will hold the “KOBC Container Freight Index (KCCI) 200th Index Guessing Event” from the 26th through the 1st of next month.
KCCI is an index that tracks changes in ocean freight rates for container exports departing from the Port of Busan, making it possible to gauge trends in the domestic ocean freight market. The composite index and freight indices for each of 13 major routes are announced every Monday at 2 p.m.
First released on Nov. 7, 2022, the index will reach its 200th release on the 2nd of next month. The corporation organized the event to mark KCCI’s 200th release and help the public become more familiar with the index and the container shipping market.
To take part, participants should comment with their predicted figure for the KCCI composite index on the “KCCI 200th Index Guessing Event” post, which will be published on the corporation’s official Instagram account on the 26th. The corporation plans to select three commenters whose predictions are closest to the actual KCCI composite index and award prizes worth 500,000 won for the grand prize, 200,000 won for the top prize and 100,000 won for the excellence prize.
In addition to the three top prize winners, 50 people—25 with the closest estimates above and 25 with the closest estimates below the actual published index—will receive coffee coupons worth 5,000 won each.
Kim Jong-woo, director of the corporation’s Maritime Industry Information Center, said, “Reaching 200 KCCI releases is a meaningful achievement, reflecting the steady recording of trends in the domestic ocean freight market and the provision of related information.” He added, “The corporation plans to continue using KCCI to improve understanding of the ocean freight market and provide shipping-related information to the public and the industry.”[email protected] Byun Ok-hwan Reporter