Lee Hoseung "Government Actively Supports Shipbuilding Industry with Eco-friendly, Smart Technologies, LNG Bunkering, etc."

[Asia Economy Reporter Moon Chaeseok] Lee Hoseung, Senior Secretary for Economic Affairs at the Blue House, announced that the government will actively support the shipbuilding industry sectors such as eco-friendly and smart technologies, and liquefied natural gas (LNG) bunkering.

Secretary Lee made these remarks on the 31st at 2:30 PM during his visit to Daehan Shipbuilding and Hyundai Samho Heavy Industries located in the Daebul Industrial Complex, Jeollanam-do.

The event was attended by Secretary Lee, Choi Namho, Director of Manufacturing Industry Policy at the Ministry of Trade, Industry and Energy, Kim Youngrok, Governor of Jeollanam-do, Yoon Byungtae, Deputy Governor for Political Affairs, Jeon Dongpyeong, Mayor of Yeongam County, government and local government officials, as well as representatives from Hyundai Samho Heavy Industries, Daehan Shipbuilding, Marintech, Yuil, Shinwoo Industry, Korea Industrial Complex Corporation Daebul Branch, Daebul Industry-Academia Convergence Center, and the Shipbuilding Industry Support Center.

Secretary Lee visited Daehan Shipbuilding in Haenam County, Jeollanam-do. Daehan Shipbuilding holds the world’s number one order share in the 115,000-ton tanker sector. Between 2017 and 2018, out of 85 Aframax tanker orders worldwide, Daehan Shipbuilding secured 22 orders.

Last year, it demonstrated its strength by securing orders for 12 tankers, including 4 Aframax and 8 Suezmax tankers, making it a representative medium-sized shipyard in South Korea.

He then toured the Hyundai Samho Heavy Industries site in Yeongam County, Jeollanam-do. This is a large shipyard that builds major vessel types such as LNG carriers and Very Large Crude Carriers (VLCC), which are South Korea’s main ship types.

Hyundai Samho Heavy Industries secured orders for 34 vessels last year, including 8 LNG carriers, 22 tankers, 2 LPG carriers, and 2 bulk carriers. It is undoubtedly a leading large shipyard in Jeollanam-do, contributing to the regional shipbuilding industry and local economy.

At the meeting held at Hyundai Samho Heavy Industries shipyard, the progress of government policies such as the 'Measures to Revitalize the Shipbuilding Industry' was reviewed.

The industry proposed initiatives including the demonstration of eco-friendly ship cryogenic systems, workforce development for the shipbuilding industry, and support to strengthen the capabilities of small and medium shipyards.

The government agreed to actively reflect the difficulties and policy suggestions raised at the meeting in future policies.

Secretary Lee stated, "Our shipbuilding industry reclaimed the world’s number one position from China because companies have steadily prepared for the future despite difficult circumstances," adding, "To maintain the top position globally, the government will actively support necessary measures such as developing core eco-friendly and smart future technologies and establishing eco-friendly ship infrastructure like LNG bunkering."

Deputy Governor Yoon said, "Continuous government attention and support are needed so that shipbuilding companies in Jeonnam can overcome the crisis and regain their former vitality," and added, "I hope this meeting will be an opportunity to find answers for the revitalization of Korea’s shipbuilding industry and the Jeonnam regional economy."

This content was produced with the assistance of AI translation services.