Korea Maritime and Ocean University received a 5 billion won development fund from the shipping industry — including the Korea Shipowners' Association, HMM Co. and the Bada-ui Pum Foundation — to support the training of future maritime professionals. [Korea Maritime and Ocean University]
Korea Maritime and Ocean University received a 5 billion won development fund from the shipping industry — including the Korea Shipowners' Association, HMM Co. and the Bada-ui Pum Foundation — to support the training of future maritime professionals. [Korea Maritime and Ocean University]

The Korea Shipowners' Association, HMM Co. and the Bada-ui Pum Foundation have donated 5 billion won ($3.59 million) to Korea Maritime and Ocean University to support the development of future maritime professionals.

The contribution gives the university fresh momentum in its mission to cultivate globally competitive maritime talent.

The Korea Shipowners' Association, HMM and the Bada-ui Pum Foundation had previously signed an industry-academia cooperation agreement with the university at the 31st Maritime Day ceremony held on campus.

The agreement reflected a shared commitment by the shipping industry and academic institutions to work together in training the skilled personnel who will lead South Korea's maritime sector.

The fund was established after member companies of the Korea Shipowners' Association agreed to channel a portion of the savings generated through tonnage tax benefits back into talent development. The large-scale contribution is expected to serve as a vital catalyst for building a core workforce in the shipping industry.

"At a time when the importance of maritime personnel is growing worldwide, this major contribution from the shipping industry is expected to help secure advanced training equipment for developing maritime talent and seafarers," said Ryu Dong-geun, president of Korea Maritime and Ocean University.

The university plans to use the funds to further strengthen its capacity to produce a steady stream of skilled maritime graduates. It also intends to continue working closely with the Korea Shipowners' Association, the broader shipping industry and government agencies to train the talent that will drive the nation's maritime sector.


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