Represents KOBC's first collaboration with a foreign bank to help Korean shipping and logistics companies regionalise

Agreement announced alongside official opening of KOBC's first overseas branch in Singapore, the world's leading maritime hub

Partnership deepens Singapore-Republic of Korea's maritime links and accelerates transition towards more sustainable and resilient operations


Singapore, Regional, 03 Dec 2025 - DBS and the Korea Ocean Business Corporation (KOBC), a financial institution under the Republic of Korea's Ministry of Oceans and Fisheries, today announced a Memorandum of Understanding (MOU) to strengthen business connectivity and support the regional expansion of Korea's maritime and logistics sector across Asia.

From left to right: Han Kwee Juan, Group Head of Institutional Banking, DBS and Byung-Gil Ahn, President, Korea Ocean Business Corporation, inked a memorandum of understanding to support the regional expansion of the Republic of Korea's maritime and logistics sector across Asia. This partnership is KOBC's first with a foreign bank, and will enable Korean maritime companies to tap DBS' extensive regional network and suite of financing options as they diversify into new markets.


Representatives from DBS and the Korea Ocean Business Corporation at the signing of the memorandum of understanding to help Republic of Korea's maritime firms expand across Asia.

The partnership is KOBC's first with a foreign bank and will enable Korean maritime companies to tap DBS' extensive regional network and suite of financing solutions - including digital cross-border payment capabilities, trade financing and sustainable financing solutions - as they diversify into new markets. Korea is one of the world's top three shipbuilding nations and a global leader in high-value vessels, with its shipping and logistics firm operating across major global routes. With Singapore consistently ranked the world's top maritime centre, DBS is well placed to support Korean firms as they extend their global footprint.

The collaboration aligns with broader efforts[1] to expand cooperation in green shipping and digitalisation between Singapore and the Republic of Korea. The initiative will support the advancement of more sustainable shipping and strengthen supply chain resilience. In addition, it will help broaden global investment opportunities for Korea's maritime and logistics industry.

Under the MOU, DBS and KOBC will collaborate to:

  • Facilitate KOBC's access to Singapore's world-class financial market, including trade financing, treasury support and capital-raising opportunities;
  • Develop sustainable finance solutions, such as transition financing for eco-friendly vessels and alternative maritime fuels;
  • Enhance competitiveness across the maritime and logistics value chain, supporting Korean players as they expand into the rest of Asia
The MOU was announced alongside the opening of KOBC's first overseas branch in Singapore, reinforcing the city-state's role as a global entrepot and strategic gateway to Asia. The branch will serve as KOBC's regional base for financing operations, enabling the organisation to work more closely with Korean maritime and logistics firms as they grow their regional footprint.

Han Kwee Juan, Group Head of Institutional Banking, DBS, said: "DBS is honoured to be Korea Ocean Business Corporation's first foreign bank partner. Korea's maritime sector is a critical pillar in global trade, and its leading players are increasingly looking outward for growth and greener operations. With Singapore as a global maritime hub and DBS' extensive network across Asia, we are well positioned to connect Korean firms to new markets and help them capture emerging opportunities. As companies redesign their operations around more intentional supply chains - positioning closer to demand and growth - Asia continues to serve as a key engine of the global economy. We remain committed to supporting Korean firms as they transform, regionalise sustainably and build long-term resilience."

Byung-Gil Ahn, President, Korea Ocean Business Corporation, said: "Opening the Korea Ocean Business Corporation's first overseas branch in Singapore and signing this MOU with DBS are important milestones in strengthening the Republic of Korea's maritime industry. This partnership enhances KOBC's global financial foundation, and supports the long-term, stable growth of Korea's shipping and logistics sectors as our firms diversify and build resilience."

This partnership builds on DBS' longstanding commitment to the Republic of Korea as an important market for driving sustainable innovation and growth. In 1981, DBS opened its Seoul branch to provide integrated financial solutions and greater market connectivity for Korean corporate and institutional clients.

[1] Singapore's Ministry of Transport and the Republic of Korea's Ministry of Oceans and Fisheries signed a MOU on 3 Nov 2025, to establish the Singapore-ROK Green and Digital Shipping Corridor. Under the MOU, the Maritime and Port Authority of Singapore and the Ministry of Oceans and Fisheries will explore and implement initiatives to support the maritime sector's transition to zero, or near-zero greenhouse gas emission fuels. The MOU also aims to accelerate digitalisation to enhance operational efficiency. Read more here.

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Recognised for its global leadership, DBS has been named "World's Best Bank " by Global Finance, "World's Best Bank" by Euromoney and "Global Bank of the Year" by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's Best Digital Bank< /a>" by Euromoney and the world's "Most Innovative in Digital Banking " by The Banker. In addition, DBS has been accorded the "Safest Bank in Asi a" award by Global Finance for 17 consecutive years from 2009 to 2025.

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