Bellingham Marine and leading South Korean marina company CK Marine formed an agreement that will combine Bellingham's South Korean operations with CK Marine's marina division.
The alliance is a strategic move by two of the market’s strongest players to take a commanding lead in the South Korean market, Bellingham said. The company formed Bellingham Marine Korea a year ago to extend the company’s expertise to the growing South Korean marina industry and establish a local presence.
“After being in the market for a year, it’s clear that to be most effective we need to partner with a local company,” president Everett Babbitt said in a statement. “The arrangement we’ve formed with CK better positions us to serve the Korean marina industry by maximizing our synergies.”
Under the arrangement, Bellingham will provide technical expertise to CK for manufacturing the company’s products, including its flagship Unifloat concrete dock system. Bellingham also will provide engineering and design support through its worldwide network of engineers and consultants.
The joint venture will utilize CK Marine’s plant and office space in Seoul.