Support for Full-Cycle Development of 'Korean-Style Eco-Friendly Ships' Technology... Government Invests 100 Billion Won

Ministry of Industry Establishes '2022 Eco-Friendly Ship Development Implementation Plan'

[Sejong=Asia Economy Reporter Kwon Haeyoung] The government will invest approximately 100 billion KRW to establish a full-cycle system for the development of Korean-style eco-friendly ship technology.

The Ministry of Trade, Industry and Energy announced on the 2nd that it will establish the "2022 Eco-friendly Ship Development Implementation Plan," which will be announced on the 3rd.

This plan is based on the "1st Basic Plan for Eco-friendly Ship Development and Distribution (2021?2030)" jointly announced with the Ministry of Oceans and Fisheries in December 2020, and was established to systematically promote eco-friendly ship development. The government will invest a total of 95.6 billion KRW in national funds for technology development and the establishment of testing and certification infrastructure, including ▲ securing world-leading future eco-friendly ship technologies ▲ building test infrastructure for the spread of new technologies ▲ promoting the Korean-style demonstration project (Green Ship-K). Through this, it will focus on advancing ships powered by eco-friendly fuels, including liquefied natural gas (LNG) propulsion vessels, in response to strengthened global maritime environmental regulations, and on domestic production of core equipment. The "Green Ship-K Demonstration Vessel Construction Project" will be promoted to support land and sea verification and final commercialization through the construction and operation of test vessels.

According to this plan, first, to secure world-leading future eco-friendly ship technologies, 13.9 billion KRW in national funds will be allocated for zero-carbon ship technologies such as hydrogen and ammonia, and 26.9 billion KRW for domestic production of LNG, electric, and hybrid technologies, as well as the development of greenhouse gas and fine dust reduction devices.

To spread developed technologies, 4.1 billion KRW in national funds will be invested in developing testing and inspection standards such as certification criteria for core eco-friendly ship technologies and test evaluation technologies for low-carbon and zero-carbon ships, and 18.7 billion KRW will be invested in building test and evaluation facilities for hydrogen propulsion vessels and cargo hold insulation systems.

For demonstration projects to secure track records of domestic technology, 15.1 billion KRW in national funds will be invested in constructing test vessels such as LNG bunkering dedicated ships, and 11.2 billion KRW will be allocated to support legal and institutional improvements and market entry through sea trials.

Additionally, to foster and promote the utilization of professional personnel, 5.7 billion KRW in national funds will be provided for education and reemployment, including training master's and doctoral experts in eco-friendly and smart ship fields and strengthening technological capabilities of eco-friendly small and medium-sized ships by utilizing retired personnel.

Park Jaeyoung, Director of Manufacturing Industry Policy at the Ministry of Trade, Industry and Energy, said, "The eco-friendly and smart transformation of the shipbuilding industry is an irreversible trend, and especially the expansion of the eco-friendly ship market, where Korea has strengths, is a rare opportunity for the domestic shipbuilding industry to leap forward again. The government will also strive to faithfully implement the 2022 Eco-friendly Ship Development Implementation Plan prepared this time so that Korea can maintain its position as the world’s number one shipbuilding powerhouse in the future ship market."

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