The Korea Register (KR) announced that as of December 19, its total registered tonnage reached 90.03 million, surpassing the 90 million mark for the first time.
This is a milestone achievement after 65 years of development since KR began providing classification services for two vessels (4,875 tons) in 1962. Looking back on its growth trajectory, after reaching 80 million tons of classified tonnage in 2022, KR has increased by another 10 million tons in just three years, successfully advancing to a new milestone of 90 million tons.
KR stated that amid a challenging market environment characterized by intensifying competition among classification societies, strengthened international regulations, and persistent geopolitical risks, it successfully attracted newbuildings and existing vessels from multiple overseas shipowners for classification. This achievement was driven by the entire organization’s focus on business expansion and enhanced inspection and technical capabilities, thereby promoting steady growth in the fleet size.
Notably, due to international sanctions imposed on Russia and Iran, KR experienced a loss of approximately 3.77 million tons. Despite these adverse conditions, KR actively expanded into overseas markets and ultimately achieved this historic breakthrough.