Government Launches Full-Scale Development of Korean-Style Eco-Friendly Ships... Reducing Greenhouse Gas Emissions by 70%

Ministry of Trade, Industry and Energy and Ministry of Oceans and Fisheries Pass Preliminary Feasibility Study for 'Eco-friendly Ship Full-cycle Innovation Technology Development Project'

[Sejong=Asia Economy Reporter Kwon Haeyoung] The development of the 'Korean-style Eco-friendly Ship' (Green Ship-K) for the green transition of the shipbuilding and shipping industries is set to begin in earnest.

The Ministry of Trade, Industry and Energy and the Ministry of Oceans and Fisheries announced on the 29th that the 'Eco-friendly Ship Full-cycle Innovation Technology Development Project' has passed the preliminary feasibility study.

This project focuses on developing technologies related to eco-friendly propulsion ships with low greenhouse gas emissions in line with the International Maritime Organization (IMO)'s strengthened environmental regulations. A total of 254 billion KRW will be invested over 10 years from next year until 2031. Eco-friendly propulsion ships refer to future high value-added ships equipped with next-generation propulsion systems such as low-carbon and zero-carbon ships using eco-friendly fuels like hydrogen and ammonia, as well as electric and hybrid ships.

First, core technologies and design technologies such as hydrogen and ammonia fuel propulsion technology and electric and hybrid propulsion systems will be developed to reduce ship greenhouse gas emissions by 70% compared to 2008 levels. Test and evaluation demonstration technologies will also be developed to verify the performance and safety of new eco-friendly ship technologies. The plan is to first develop, demonstrate, and secure a distribution base for eco-friendly coastal ships, then link this to the commercialization of large main ships. Efforts will also be made to improve laws and systems, including establishing standards for the application and commercialization of new technologies, and to cooperate on domestic and international standardization.

The government plans to develop ship technologies that can reduce greenhouse gases by more than 70%, secure demonstration and operational performance, and close the technology gap with advanced countries in eco-friendly ships. Additionally, the goal is to build a new industrial ecosystem by linking the currently dualized domestic shipbuilding industry (coastal and ocean-going ships), equipment industry, and shipping industry with eco-friendly alternative fuels and propulsion system technologies.

A government official said, "The transition to eco-friendly ships is an unavoidable international regulatory obligation and a new challenge in the shipbuilding and shipping sectors," adding, "We will actively support securing core technologies for eco-friendly ships to preoccupy the future market and lead the new era."

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