Greece, South Korea sign cooperation memorandum in maritime and shipbuilding industry sector

Greek Shipping & Aegean Minister Miltiadis Varvitsiotis and South Korean Trade, Industry & Energy Minister Yoon Sang-jick signed on Friday in Athens a cooperation memorandum in the maritime and shipbuilding industry.

Greek Shipping & Aegean Minister Miltiadis Varvitsiotis and South Korean Trade, Industry & Energy Minister Yoon Sang-jick

The agreement is regarded as a decisive step for bilateral relations with great benefits for Greek shipping and the Greek manufacturers of shipbuilding equipment.

The five-year-long memorandum of cooperation, which can be extended for two more years, provides for private sector contacts and cooperation through the exchange of know-how, experience and best practices in the sectors of shipbuilding and maritime industry; exports of Greek shipbuilding material to Korean shipyards; implementation of common programs; business liaisons and maritime technology expos; cooperation and common actions in the sectors of environmental protection, innovation, research and development.

“The South Korean shipyards deliver a Greek-owned ship every four days on the average. Therefore, the participation of Greek manufacturers of shipbuilding materials is important in building these ships, not only the Greek-owned but all ships built in Korea. Our main priority is to clear the way for Greek exports to Korea and increase the participation of shipping revenue in the Greek economy,” Varvitsiotis said.

On his part, the South Korean minister noted that the orders for Greek-owned ships are very important to Korean shipyards, which are well acquainted with Greek shipping and the Greek manufacturers of shipbuilding materials.