Ship finance is closely related to shipping industry, shipbuilding industry and banking industry. Complex contractual relationship, therefore, exists under ship finance. In this connection Export Credit Agencies of Korea have played a significant role in ship finance. Furthermore, the Ship Investment Company System under the Ship Investment Company Act has contributed to ship finance to a degree. Hanjin Shipping Corporation as a world-famous shipping company was declared bankrupt in February 2017 and, as a result, the shipping industry of Korea has been in distress. The Ministry of Oceans and Fisheries(MOF) financially made an effort to assist the shipping industry, but the MOF’s policy has not been effective. Under new government President Moon Jae-in promised to revitalize the shipping industry by establishing the Korea Ocean & Ship Finance Corporation. In conclusion the Korea Ocean Business Corporation(KOBC) was launched on July 5, 2018. Under the Korea Ocean Business Corporation Act, KOBC will support the shipping industry. KOBC’roles include investment in new ships, payment guarantee, rechartering and providing market information.