[ Maritime field clears the first screening ]

The maritime committee of the OECD has determined that South Korea has
met all the requirements for the memberdhip into the maritime field o
f the OECD. Committee’s approval on the maritime field would facilita
te the remaining areas to be examined before being accepted into the O
ECD.
The committee, a 25-member nation forum, met in Paris on November 2 th
rough 3, and after through review, approved the eligibility of Korea i
nto the OECD maritime area, according to the report by the (Korea) Fin
ance & Economics Board.
Furthermore, South Korea has managed to get the committee’s sanction
which makes it mandatory for transporting stretigic war materials by t
he ships of Korean registry until 1998.
Korea shipping industry’s liberalization and open-door policies were
conducive to the committee’s approval, as such polices are in tune wi
th OECD’s policy of free and fair competition, says the Finance & Eco
nomics Board. The board feels that the new business trend as shown in
the maritime industry would have a positive impact when OECD proceeds
to review other areas of industry for Korea’s application to the memb
ership.
OECD sent a team of officials to Korea last October to gather data on
the nation’s economics and business status. The team’s finding
would be the basis for the eligibility review by the com
mittees representing finance, banking, maritime, etc. during the first
half of ’96, followed by the comprehensive review and the decision b
y the board of directors.

Mediterranean Surges as Hub Liner Market

The volume of container traffic in the Mediterranean area has reached
3,561 mil. TEU this year, an increase of 8.9% average per year since 1
992 when the volume was 2,76 mil. TEU.
The volume is expected to exceed the 4 mil. mark by 1997, as the volum
e for ’97 is estimated at 4,01 mil. TEU.
Annual container handling volume including the inland traffics recorde
d 6,439 TEU, up 25.2% compared to 5,145 TEU in 1992.
Spain’s Algeciras port, as an example, has emerged as the first Medit
erranean large-scale seaport to handle over one million TEU in 1994.
For its benificial location, the middle of Asia, Europe, Africa, conne
cting the Atlantic, and the Aisa/Pacific, the mediterranean is upsurg
ing for another new hub liner market. Therefore, the major shipping co
mpanies have time line services linking the North Europe, North Americ
a, Mideast, Asia cross port calls in one or two ports among the medite
rranean ports.
The major ports are preparing for it, expanding the facilities of tran
sshipment and logistics hub.
Meanwhile, EU(European Union), tying up its cooperation with the medit
erranean nations, is vigorously enlarging its trade in this area with
the finnancial surporting for the purpose of setting up the Europe/Me
diterranean Economic Area in 2010.
Not only economy in the mediterranean area, but also liner market are
supposed to burgeon in the future, so our shipping companies are requi
red to prepare effectively for it.
Being centrally and strategically located, the Mediterranean ports, as
gateways to Asia, Europe and Africa, are showing a rapid growth as th
e hub liner market. World’s major shippers began to capitalize on the
growth by utilizing one or two Mediterranean ports as the transshippi
ng and logistics hub ports
As the European Union (EU) is set to establish the Europe-Mediterranea
n Economic Area (EMEA) by 2010, it is actively providing financing and
expanding tradiing, and promoting closer ties among the Mediterranean
area, has become a mandate for Korean shippers to come up with an eff
ective business stretigy to respond to the changes.
-표-

GERMANISCHER LLOYD Founds Korean Committee

The founding meeting of a new Korean Committee of Germanischer Lloyd w
as held in Busan on Friday 3 November 1995. The chairman is YH Kim, Se
nior Vice President of the Ship Design Department at Hyundai Heavy Ind
ustries in Ulsan. The Secretary is Keins Wagner, GL’s Principal Surve
yor in Korea, including Dr Claus Vollers, the German Ambassdor to Kore
a.
At the founding meeting, Dr Hans G Payer, GL Executive Board said “Th
e maritime industry of Korea is Gaining more and more in significance.
In particular, the Koean shipbuilding and subcontracting industry has
been a very important partner for Germanischer Lloyd for many years n
ow”.
GL has been represented with a branch office in Korean for almost 20 y
ears. By the end of 1995, no less than 66 ships with GL class will hav
e been delivered by Korean yards, together with a large number of mari
ne engines and other subcontracted components.