Hyundai Merchant Marine (HMM) is likely to receive state financial guarantees worth KRW 6 trillion ($5.28bn) to fund its 20-ship newbuilding programme.
Hwang Ho-Sun, president of state-controlled Korea Ocean Business Corp (KOBC), told the Edaily website that his company is considering the support plan for the domestic shipowner.
"If the decision is made at the ministerial-level meeting, the support process will be carried out as early as this month," he added.
The cash would go towards 20 containerships HMM has confirmed at Hyundai Heavy Industries (HHI), Samsung Heavy Industries and DSME, plus terminal operations and containers.
Hwang pledged to finance 200 Korean vessels by 2020 and invest KRW 8 trillion over five years.
HMM told TradeWinds it could not confirm the financing arrangement.
DSME and Samsung are building seven and five 23,000-teu units for HMM respectively, with delivery in the second quarter of 2020.
HHI will construct eight 15,300-teu units for handover in the second quarter of 2021.
The total order will cost KRW 3.15 trillion, HMM has said.
