IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: No inception date

State loan

The Bank announced plans to provide a total of KRW 20 trillion (ca. USD 1.7 billion) in credit to the ship and offshore sector this year (KRW 14 trillion to the ship sector and KRW 6 trillion to the offshore platform sector), up from last year’s KRW 19.1 trillion. Additional changes will includes raising the loan-to-value ratio applied to used-vessel purchasing loans for SME and medium-large shipping companies from 70% to 80%. The age criteria for used vessels has been relaxed, from vessels aged between 10 to 15 years to those now being between 5 to 15 years.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

393 Metal wastes or scraps
8908 Vessels and other floating structures for breaking up.
890800 Vessels and other floating structures for breaking up.
493 Ships
8901 Cruise ships, excursion boats, ferryboats, cargo ships, barges and similar vessels for the transport of persons or goods.
890110 Cruise ships, excursion boats and similar vessels principally designed for the transport of persons; ferryboats of all kinds
890120 Tankers
890130 Refrigerated vessels, other than those of subheading 8901.20
890190 Other vessels for the transport of goods and other vessels for the transport of both persons and goods
8902 Fishing vessels; factory ships and other vessels for processing or preserving fishery products.
890200 Fishing vessels; factory ships and other vessels for processing or preserving fishery products.
8904 Tugs and pusher craft.
890400 Tugs and pusher craft.
8905 Lightvessels, firefloats, dredgers, floating cranes and other vessels the navigability of which is subsidiary to their main function; floating docks; floating or submersible drilling or production platforms.
890510 Dredgers
890590 Other
8906 Other vessels, including warships and lifeboats other than rowing boats.
890690 Other
8907 Other floating structures (for example, rafts, tanks, coffer dams, landingstages, buoys and beacons).
890710 Inflatable rafts
890790 Other
494 Pleasure & sporting boats
8903 Yachts and other vessels for pleasure or sports; rowing boats and canoes.
890310 Inflatable
890392 Motorboats, other than outboard motorboats
890399 Other

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