The Korea Ocean Business Corporation (KOBC) and HMM management met with India's Minister of Ports, Shipping and Waterways Sarbananda Sonowal and a high-level Indian delegation in Busan on October 27, according to announcements from KOBC. The meeting focused on expanding cooperation in shipping, ports, and logistics infrastructure, with the Vadhavan Port terminal development project emerging as a central point of discussion . HMM executives participated in the talks, signaling the national carrier's interest in direct participation in one of India's most ambitious port infrastructure undertakings.

Vadhavan Port is being developed as India's 13th major port, a greenfield, all-weather deep-draft facility in Palghar district near Dahanu, approximately 150 kilometers north of Mumbai. The Union Cabinet approved the project on June 19, 2024, at an estimated cost of ₹76,220 crore. Upon completion, the port is designed to handle 298 million metric tonnes of cargo annually and accommodate the world's largest container vessels with capacities exceeding 24,000 TEU, eliminating the need for Indian cargo to be transshipped at foreign hubs such as Colombo or Singapore . The port is being developed by Vadhvan Port Project Ltd., a special purpose vehicle formed by the Jawaharlal Nehru Port Authority and the Maharashtra Maritime Board .

From a logistics efficiency standpoint, Vadhavan's strategic location is intended to reduce transit times for export-import trade from North and West India. The port's proximity to the Dedicated Freight Corridor and the Mumbai-Vadodara Expressway is expected to provide seamless multimodal connectivity. Dedicated road connectivity spanning 32.74 kilometers is being built by the National Highways Authority of India at an estimated cost of ₹2,528 crore, while a 22.22-kilometer rail link is being developed by Western Railway at ₹1,765 crore . These connectivity projects are designed to integrate the port into India's broader freight network from the outset.

The discussions between KOBC, HMM, and the Indian delegation covered the possibility of KOBC and Korean shipping companies investing in or participating in the Vadhavan terminal development. Both sides agreed to examine specific cooperation modalities going forward. Beyond the port project, the talks addressed expanding networks between Korean and Indian shipping companies, exploring new routes, and cooperating in logistics to accommodate growing maritime trade volumes between the two countries . The Korean side's interest in Vadhavan reflects a broader pattern of international engagement with the project, which has already attracted bids from Adani Ports, DP World, NMDC Group, and Vishwa Samudra Engineering for offshore land development and protection bund works .

The Vadhavan discussions are situated within India's Maritime Amrit Kaal Vision 2047, a long-term policy framework aimed at strengthening the competitiveness of India's shipping, port, and shipbuilding industries through large-scale infrastructure expansion and technological development. India has demonstrated interest in leveraging Korean expertise in shipbuilding, shipping, and port operations. In April 2026, the two countries signed a Memorandum of Understanding on cooperation in port development and related maritime sectors, establishing an institutional foundation for collaboration . The October 27 meeting in Busan represents a follow-up to that framework.

Separately during the same Busan visit, Minister Sonowal met with HMM's senior leadership to discuss vessel flagging in India, recruitment of Indian seafarers, utilization of Indian ship-recycling facilities compliant with the Hong Kong Convention, and expanding HMM's shipping services to additional Indian ports not currently covered by its network. A leading Korean shipping company also expressed interest in investing in India-flagged vessels, made-in-India containers, and the upcoming Vadhavan Port . These discussions indicate that Korean maritime engagement with India extends beyond the Vadhavan project to encompass fleet operations, crewing, and equipment manufacturing.

KOBC President Ahn Byung-gil and Minister Sonowal also explored broader investment and business opportunities in India's maritime sector, particularly in port infrastructure and shipping. Sonowal presented opportunities under the Maritime Development Fund and Sagarmala Finance Corporation, inviting Korean maritime financing institutions to collaborate with Indian stakeholders. India has approved a shipbuilding support package of approximately $7.8 billion and is developing mega shipbuilding clusters, with a pipeline of more than 400 vessels valued at an estimated $23 billion . The Vadhavan discussions thus form part of a wider effort by India to attract Korean capital, technology, and operational expertise across multiple segments of its maritime economy.

For KOBC, the engagement with India represents an effort to support Korean shipping companies' overseas expansion at a time when global port and logistics infrastructure investment is increasingly viewed as a strategic priority. KOBC President Ahn Byung-gil stated that Singapore and India are strategically important partners in the global shipping and logistics network, and that KOBC will strengthen financial support and other assistance to help Korean companies achieve tangible results overseas . The Vadhavan project, given its scale, greenfield status, and projected role as one of the world's top ten container ports, offers Korean investors an opportunity to participate in a port development with long-term growth potential. The specific terms of any KOBC or HMM participation, including investment size, equity structure, and operational role, remain subject to further negotiation and due diligence.