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Global Trade Alert

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Republic of Korea: State aid to support the vitality of the domestic shipping industry

Description

On 15 April 2024, the South Korean Ministry of Ocean and Fisheries (MOF) announced increasing the budget of the New Shipbuilding Support Program by KRW 2.03 trillion (USD 1.46 billion). With this chan...

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Intervention Details

Intervention Type

Capital injection and equity stakes (including bailouts)

MAST Chapter

L: Subsidies (excl. export subsidies)

Implementation date

15 Apr 2024

Revocation date

No revocation date

Implementation level

NFI

Affected flow

Inward

Announced as temporary

No

Eligible firms

all

Affected Trading Partners

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Affected Sectors

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Affected Products

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