Development fund donated annually since 1987

Scholarships awarded to top shipboard trainees

High scorers to receive hiring preference

Korea Maritime and Ocean University supported since 1985

Korea Line CEO Min Sang-ki (fourth from right) and Korea National Maritime University President Choi Bu-hong (fourth from left) pose with scholarship recipients at a development fund presentation ceremony held Wednesday at the university in Mokpo, South Jeolla Province. [Provided by SM Group]
Korea Line CEO Min Sang-ki (fourth from right) and Korea National Maritime University President Choi Bu-hong (fourth from left) pose with scholarship recipients at a development fund presentation ceremony held Wednesday at the university in Mokpo, South Jeolla Province. [Provided by SM Group]

Korea Line, an SM Group affiliate, has donated a development fund to Korea National Maritime University in Mokpo, marking 40 consecutive years of support since the company made its first contribution in 1987. Students who earn top marks in shipboard training evaluations will also receive preferential treatment in future hiring processes.

Korea Line announced Friday that it held a development fund presentation ceremony Wednesday at the university in Mokpo, South Jeolla Province.

About 20 people attended, including Korea Line CEO Min Sang-ki, university President Choi Bu-hong and scholarship recipients. Kwon O-gil, CEO of KLCSM — the maintenance, repair and overhaul arm serving Korea Line and SM Line vessels — also took part.

The industry-academia partnership between Korea Line and the university dates to 1987. The company has donated a development fund every year since, continuing the scholarship program even after joining SM Group in 2013.

This year's funds will be used as scholarships for students who performed well in Korea Line's shipboard training assessments. The company plans to link the scholarship program to talent recruitment by giving those students an advantage when they apply for positions at Korea Line.

"Even as the global shipping industry undergoes rapid change amid the sweeping tide of the Fourth Industrial Revolution, competitiveness ultimately comes from skilled people who thrive on the front lines," Min said. "We will provide even more active support so that these aspiring maritime officers can develop both expertise and practical capabilities, and grow into the leaders who will shape the future of Korea's shipping industry."

Choi responded with gratitude. "I am deeply thankful to Korea Line for its generous support and attention to nurturing talent over these 40 years," he said. "We will continue to provide the best possible educational environment so that our students can rise to become next-generation maritime professionals."

Beyond Mokpo, Korea Line also provides scholarships to Korea Maritime and Ocean University in Busan. The company's ties with that institution go back to 1985, and it held a separate development fund donation ceremony at the university in Yeongdo-gu, Busan, on Sept. 2.

Korea Line operates bulk carriers transporting iron ore and coal, as well as LNG carriers, with its business centered on dedicated vessel contracts and long-term transport agreements.

The company's core shipping business has been showing improving profitability. Korea Line posted a consolidated operating profit of 63 billion won ($46 million) in the second quarter of this year, up 91 percent from the same period a year earlier. Its cumulative operating profit for the first half reached 137.4 billion won, supported by the recognition of long-term transport contract earnings and an expansion of charter vessel operations.


kwater@heraldcorp.com