South Korea’s state-run company Korea Ocean Business Corp (KOBC) has revealed its intentions to support financially troubled shipping firms and fund eco-friendly projects.

Namely, Yonhap News Agency cited the company as saying that it would provide up to KRW 138 billion (USD 121.5 million) in guarantees to four shipping companies.

The funds are meant to help Korea Line Corp, SK Shipping, H-Line Shipping and Polaris Shipping build liquefied natural gas (LNG) powered ships and acquire other vessels.

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