GMS Launches Korean Operation

 

GMS, a cash buyer of ships and offshore structures, has launched a new operation in Korea. The office will be headed by Gyungbae Gil, a trader who was based in Dubai.

 

According to GMS, the move will allow it to strengthen its position in the important East Asian market, and grow its expanding customer base.

 

GMS said it has worked with a significant number of Korean owners and brokers for many years, and as the Korean market continues to grow, more vessels will need to be recycled. GMS claims to be the only cash buyer that currently operates in Korea, and the launch of the operation will further strengthen its position within the region. It will also enable the company to work in closer proximity to, and build more collaborative relationships with its customers, increasing efficiencies and ensuring quality throughout the recycling process.

 

Commenting on the launch, Dr. Anil Sharma, President and CEO, GMS, said, “East Asia and Korea is an important market for our business, and the launch of this new operation demonstrates our commitment to both the region and our growing customer base. There is a real demand for the recycling of vessels to be conducted responsibly and with the highest levels of efficiency and quality. GMS provides this, with our long history and experience, as well as our global network, and we look forward to developing closer relationships with our customers, and setting new benchmarks for recycling excellence within the region.”