Kang Seung-woo is the Business Desk editor at The Korea Times. Prior to this position, he covered politics, national affairs, finance and sports.
Korea helps Colombia develop shipbuilding industry
From left, Korean Ambassador to Colombia Choo Jong-yeon, Korea International Cooperation Agency (KOICA) Colombia country director Kim Hyun-geun and Colombian Minister of Commerce, Industry and Tourism Maria Ximena Lombana Villalba pose during a signing ceremony for a record of discussion to help the Latin American country establish a foundation for its shipbuilding industry in Bogota, Colombia, Wednesday (local time). Courtesy of KOICA
By Kang Seung-woo
By Kang Seung-woo
The Korea International Cooperation Agency (KOICA) has signed a record of discussion with Colombia's Ministry of Commerce, Industry and Tourism to help the South American country establish a foundation to promote policies for its shipbuilding industry and innovation in related small- and mid-sized companies.
The signing ceremony was held in the Colombian capital of Bogota, Wednesday (local time), where Korean Ambassador to Colombia Choo Jong-yeon, KOICA country director Kim Hyun-geun, Colombian Minister of Commerce, Industry and Tourism Maria Ximena Lombana Villalba and other dignitaries attended.
Under its social agreement for economic growth and job creation from 2018 to 2022, the Colombian government chose the shipbuilding sector as one of its core national industries and is making efforts to nurture it.
However, the industry there has been held back from securing a foothold in overseas markets by failing to create added value due to its focus on ship repair, glass-reinforced plastic (GRP), and small ships, resulting in the need to improve policies and its industrial ecosystem to shift to a steel ship-centered industry.
KOICA will support the establishment of a mid- to long-term development plan for the Colombian shipbuilding industry, while inviting Colombian officials involved in the industry to Korea for training in shipbuilding policy, design and production.
“Colombia's shipbuilding industry has great potential to affect exports and employment. KOICA and MINCIT (Ministry of Commerce, Industry and Tourism) Colombia have worked closely to develop Colombia's industries, and we are looking forward to this project,” Lombana said.
Choo said, “The shipbuilding industry is a field where Korea and Colombia can cooperate. Korea is a traditional shipbuilding powerhouse and Colombia has a geopolitical advantage.”
The KOICA country director also said the project involves sharing Korea's experience in shipbuilding, policies, management and technology development.
“We will make active contributions for this to become a cornerstone of development for the Colombian shipbuilding industry,” Kim added.