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The present and future of ship management aiming at world's top in 2020 ¡®Ship Management¡¯, a new hope of shipping Industry as new growth engines Reported by Lee Myoung Kyu, Translated by Kim Mi Hee

¡®Ship Management¡¯, a new hope of shipping Industry as new growth engines Ship management means taking care of all the process for technical, commercial and legal management of ships like from their birth to death and it shows not only the cost-benefits but also inherent competitiveness through innovation. It is possible that the ship owners can devote their full attention to ship investment and shipping operator can concentrate on their maritime transportation business when a professional ship management system is provided as third-party ship management. All countries over the world remain competitive with one another through diversification of the shipping market and continuous management innovation in paradigm changing. Development of ship management provides shipping industry with specialization and division of labor, making it one more step closer to achieving as ship Management is not just back-up services for shipping but it gives shipping industry a basis to develop and take a big leap forward. Now let¡¯s learn more about current status of South Korea's ship management that is a new hope of shipping industry as one of new growth engines.

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1. The Importance of Ship Management and Expected Effect 2. Current status of South Korea's ship management (1) Ship management of foreign-flag (2) Ship management of South Korean-flag (3) Changes in the number of all crews 3. Ship management industry outlook 4. Conclusion There is a saying ¡®when the sunshine focuses only on one, it gives off sparks¡¯. Cooperation may achieve extraordinary results with common elements. The best way to demonstrate your strength is figuring out what your company can do exactly. Luckily, now South Korea government is giving the ship management a boost. This means al lot to ship management industry. We hope that ship management business goes well not in Korea but over the world by relating with the Industry-University-Institute collaboration. ¡á Source Lim Jong-Kwan, ¡®The role and the vision of ship management for development of shipping industry¡¯, ship management development strategy seminar, 2009.5 Lee Kwon-Hee, ¡®Development strategy and policy Issues of ship management¡¯, ship management development strategy seminar, 2009.5 Drewry A Study on the ship management for advancement and globalization, September 2010, Ministry of Land Transport and Maritime Affairs, Korea Ship Management Companies¡¯ Association, Korea Shipowners¡¯ Association Korea Ship Management Companies¡¯ Association UNCTAD, Review of Maritime Transport, 2009 Ministry of Land Transport and Maritime Affairs, ¡®A Study on the revitalization for ship management¡¯ July, 2006

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