South Korea to fund start-up cruise line, offers $83.3 million in benefitsStaff Writer | January 17, 2017
South Korea plans to boost its cruise business, offering $83.3 million in financial benefits to cruise lines calling at country ports, according to the Oceans and Fisheries Ministry.
Shipping The Oceans and Fisheries Ministry:
"According to experts, the number of cruise passengers could be more than 100,000 people if a cruise ship of between 50,000 and 70,000 tons is placed in service," Oceans and Fisheries Minister Kim Young-suk said in an interview with Yonhap News Agency.
It is not the first Korean start-up, as the most recent, Harmony Cruise, sailed an inaugural season in 2012 with the 760-passenger Club Harmony.
The line was operated by Seoul-based Polaris Shipping, which also had 13 cargo ships at the time.
The ship sailed three- and four-night sailings from Busan and was in the market for a year before operations were stopped due to soft demand. ■