Korean shipping company chooses Hong Kong as HQ

South Korean shipping company Cido Shipping has relocated its headquarters to Hong Kong.

The President of Cido Shipping (HK) Ltd, Mr Hyuk Kwon, said today (August 16) the company had made the decision to take advantage of Hong Kong's position as an international shipping hub.

He said that as a result of the move, Cido would have easier access to a variety of professional shipping related services, including ship finance and ship management.

The Hong Kong headquarters will also be responsible for co-ordinating business with the company's other operations in the region, including its ship management companies in Tokyo and Seoul.

Ends/Monday, 16 August 2004