Assemblyman Sin Jeonghun's 'Eco-friendly Ship Foundation Project' Lead Institution Selected as Mokpo National University

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Representative Shin Jeong-hoon (The Democratic Party, Jeonnam Naju·Hwasun) announced on the 20th that Mokpo National University has been selected as the lead institution for the "Establishment of Demonstration Base for Ultra-Low Temperature Insulation System for Eco-Friendly Ships" project, which has been promoted in collaboration with Jeonnam Province, Yeongam County, and Mokpo National University.

Representative Shin Jeong-hoon is the only member from the Jeonnam region serving on the National Assembly's Industry, Trade, Energy, Small and Medium Enterprises Committee, and has advocated for the necessity of this project.

The Ministry of Trade, Industry and Energy planned and called for proposals for the demonstration base establishment project with the goal of enhancing domestic technological capabilities through the development of LNG (liquefied natural gas) insulation system localization technology. The total project cost is 25.2 billion KRW, and the project period is from this year until 2024.

LNG carriers are one of the main sectors of the shipbuilding and marine industry, but the ultra-low temperature cargo tank (membrane type) technology is monopolized by the French company GTT, causing Korean shipyards to pay high technology fees amounting to 10 billion KRW per vessel and several hundred billion KRW annually for large LNG carriers.

Therefore, if the cargo tank technology is successfully localized through this demonstration project, it is expected that South Korea will secure a favorable position in the global eco-friendly ship industry competition and significantly strengthen its competitiveness.

Representative Shin Jeong-hoon said, “The development and eco-friendly transition of the shipbuilding industry, which plays a key role in the southwestern economy of Jeonnam, is directly linked to South Korea’s industrial competitiveness. Projects that local governments have prioritized must be considered in project evaluations to foster balanced future advanced industries,” and added, “I hope this will be a valuable seed taking a step forward toward genuine regional balanced development.”

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