Minister of Oceans and Fisheries' P4G Special Session Speech: "Promoting Full Commercialization of Zero-Carbon Ships"

Moon Sung-hyuk, Minister of Oceans and Fisheries. (Photo by Yonhap News)

[Sejong=Asia Economy Reporter Moon Chaeseok] Moon Seong-hyeok, Minister of Oceans and Fisheries, stated on the 26th, "In the mid to long term, we will promote technological development to fully commercialize zero-carbon ships such as hydrogen and ammonia vessels."

Minister Moon made this remark during his keynote speech at the P4G (Partnership for Green Growth and the Global Goals 2030) Summit's special maritime session held at the Dongdaemun Design Plaza (DDP) in Seoul in the afternoon.

He explained, "In 2019 alone, the world emitted approximately 59 billion tons of greenhouse gases, setting a new record. Of this, about 1 billion tons were emitted from the international shipping sector."

He expressed concern, saying, "If we do nothing, the amount of greenhouse gases emitted from ships will increase rapidly and is predicted to account for one-tenth of global emissions by 2050."

He added, "It is time for us to act for the shared vision of healthy oceans, people, and prosperity," promising, "We will not spare policy support such as research and development (R&D) investment for eco-friendly ship technology development."

Minister Moon also shared plans to actively expand hydrogen port infrastructure and greenhouse gas absorbers.

He said, "We will continuously expand tidal flat restoration and create more than 54,000 hectares of sea forests," adding, "In particular, we aim to absorb over 1 million tons of greenhouse gases by 2050 through blue carbon and will actively cooperate with the international community to expand blue carbon."

He concluded, "I hope that today’s event will serve as a catalyst for the government, businesses, and civil society to come together for a 'blue recovery through the ocean.'"

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