ABSTRACT
This chapter investigates the contemporary issues and challenges of the Korean shipping industry, describe the major policies to be promoted by the government and the challenges that companies face, along with the solutions. The Korean maritime industry is facing a crisis brought on by Hanjin Shipping’s removal from the Global Alliance after its bankruptcy. Enhancing the global competitiveness of carriers requires placing orders for high-efficiency, environment-friendly and large-scaled vessels, and building the foundation for comprehensive logistics services while expanding the global network. The Korean government began to provide support for fostering the cruise market as a new source of profit for shipping companies, utilizing the opportunity created by the income growth in Northeast Asian countries, and marine tourism in the far east region of Russia and the Kamchatka Peninsula made possible by global warming. Korean shipping companies and travel agencies are cooperating to tap into this new opportunity.
