Busan City Launches the Sea's 'SsingSsing Car' High-Speed Boat to the World

Joint Support by Small and Medium Shipbuilding Research Institute for Next-Generation Marine Leisure Boat Development

High-speed leisure boat under development by Moru Corporation.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan City has decided to provide funding to enhance the production technology of leisure boats and develop new models in line with the government's policy to promote boat demand.

The city announced on the 2nd that, together with the Small and Medium Shipbuilding Research Institute, it will invest 1.65 billion KRW (1.2 billion KRW from the city budget and 45 million KRW from private funds) over three years until 2022 in the "Marine Leisure High-Speed Boat Production Technology Advancement Support Project" to help local boat manufacturing companies enter the global market and strengthen their capabilities.

The core of this project is to contribute to Busan City's status as a marine hub in the marine leisure sector through the successful debut of new models, as well as to create jobs.

The city plans to work with domestic and international production technology experts to improve difficulties in boat manufacturing and disseminate technology. It will also support regular exchanges among marine leisure equipment companies in the Busan area, regional marketing efforts, overseas market development exhibitions, and workshops.

The Small and Medium Shipbuilding Research Institute selected two companies through a support project announcement in April. Hwanho Shipbuilding plans to develop a "12-passenger 45-knot class leisure aluminum jet boat" equipped with a self-recovery function to ensure the stability of jet boats. Moru Corporation will develop an "export-type RIB boat applying S-TUBE" using tube pattern production technology and 3D forming technology.

The leisure boats developed by these companies will be introduced to the global market, facilitated by the expansion of global FTAs such as the Korea-US FTA and Korea-EU FTA, which ease export routes.

The city plans to select two or more additional companies from next year until 2022 to intensively support the development of excellent products. It will also promote projects to discover companies that can enter the leisure boat sector from other industries to encourage business diversification.

Shin Chang-ho, Director of the Future Industry Bureau of Busan City, said, "This will be an opportunity for finished product manufacturers, parts manufacturers, design companies, engineering firms, research support institutions, and quality inspection agencies necessary for the industrialization of leisure boats to gather in Busan." He added, "We will continuously support Busan to develop into a global leisure boat industry hub beyond Korea."

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