Gyeongnam Province Attracts Eco-Friendly Ship Repair and Retrofit Support Project
Selected for the Ministry of Industry's 21.6 Billion KRW 'Eco-friendly Ship Repair and Retrofit Platform Development Project' Competition
[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Choi Hyun-joo] Gyeongnam Province announced on the 6th that it has been finally selected for the Ministry of Trade, Industry and Energy’s ‘Eco-friendly Ship Repair and Retrofit Platform Construction Project’ and will receive 13 billion KRW in national funding by 2022.
The ‘ship repair and retrofit industry’ is an industry encompassing manufacturing and service sectors, where shipyards perform modifications, repairs, and maintenance upon repair requests.
It is linked with various industries both upstream and downstream, and as a labor- and technology-intensive industry, it has significant production inducement and employment effects.
The province initiated a research project in 2018 to rebuild the ship repair and retrofit industry and established detailed plans for the ‘Eco-friendly Ship Repair and Retrofit Platform Construction Project.’
Based on this, a total of 21.6 billion KRW will be invested over three years from this year to 2022, including 13 billion KRW in national funding, to create a repair and retrofit industry ecosystem and build the platform.
For medium and large vessels, the project includes ▲Eco-friendly Repair and Retrofit Support Center ▲Establishment of repair and retrofit process support equipment ▲Installation of yard environment improvement equipment ▲Technology development and corporate support in the repair and retrofit field.
Through this project, ship repair companies can reduce labor and equipment usage fees by renting high-efficiency equipment, and environmental pollutants generated during the repair process can also be eliminated.
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Kim Young-sam, Director of Industrial Innovation at Gyeongnam Province, said, “We will foster the ‘Eco-friendly Ship Repair and Retrofit Platform Construction Project’ as a complementary industry to the new shipbuilding industry despite the recession,” adding, “We plan to revitalize the local economy by increasing sales of local repair and retrofit companies as well as attracting related businesses.”
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