South Korea has launched an ocean business promotion agency on Thursday... to boost the flagging maritime industry.<br /> Part of the Moon Jae-in administration's policy agenda,... the so-called Korea Ocean Business Corporation will try to revive a flagging industry that used to be the backbone of the country's economic growth and job creation.<br />The industry has been reeling from massive job losses and Hanjin Shipping's bankruptcy in 2016. <br />The launch comes just a year after the government first proposed the agency. <br />
