[New Year's Address] Minister Moon Sung-hyuk: "Supporting Economic Recovery through Resolving Export Companies' Logistics and Rebuilding Shipping"

by Ju Sangdon

Published 31 Dec.2020 10:06(KST)

Munsung Hyuk, Minister of Oceans and Fisheries (Photo)

[Sejong=Asia Economy Reporter Joo Sang-don] Moon Sung-hyuk, Minister of Oceans and Fisheries, expressed on the 31st his ambition to "steadily resolve logistics difficulties for export companies and rebuild the shipping industry next year to support economic recovery."

In his New Year's address, Minister Moon stated, "In 2021, the Year of the Ox, we will devote all policy efforts to ensure that the marine and fisheries industry firmly supports the national economy and transforms into a sustainable future industry."

To this end, the Ministry of Oceans and Fisheries plans to first deploy temporary vessels on major export routes and prioritize providing shipping space to small and medium-sized enterprises.

Additionally, eight new ultra-large container ships of 16,000 TEU class will be introduced next year, and through the use of operating leases (BBC), a 'Korean-style shipowner' will be fostered to not only expand shipping capacity but also reduce the fleet operation burden on shipping companies. Furthermore, the Korea Ocean Business Corporation's guarantee methods will be diversified to include credit and contract performance guarantees to strengthen support for the shipping industry.

Efforts will also be made to revitalize fisheries and fishing villages and promote balanced development of coastal economic zones. Minister Moon said, "We will accelerate the recovery of seafood exports through non-face-to-face and online support systems such as the seafood online export support platform and the K-Seafood exclusive pavilion," adding, "We will speed up regional and local marine and fisheries infrastructure projects such as Fishing Village New Deal 300, port redevelopment, marine leisure tourism hubs, and marine healing centers to contribute to balanced regional development."

Initiatives will be undertaken to establish the foundation for carbon neutrality in marine and fisheries sectors and the elimination of marine plastics. According to the '2030 Green Ship-K Promotion Strategy,' the ministry will advance low-carbon ship technologies such as liquefied natural gas (LNG) and promote their dissemination in both public and private sectors, while pursuing the development of new zero-carbon technologies like hydrogen to achieve commercialization of zero-carbon ships by 2050. Additionally, large-scale carbon dioxide subsea geological storage (CCS) technology development and expansion of tidal flats and sea forests will secure carbon sinks, and active efforts will be made to improve climate change prediction and adaptation capabilities in marine and fisheries sectors. To reduce marine plastic waste by more than 30% by 2022, the distribution of eco-friendly fishing gear and buoys will be expanded, and new management measures such as deposit systems for fishing gear and buoys will be introduced.

Alongside this, the ministry will further promote digital transformation in marine and fisheries, growth of innovative industries such as marine bio, and strengthen safety nets in the marine and fisheries sectors.

Minister Moon said, "For the marine and fisheries sector to overcome the rough waves of the COVID-19 pandemic and be reborn as a leading innovative industry, all marine and fisheries families and the government must move forward with one heart and one direction," adding, "The government will be a lighthouse brighter than any other light to ensure that marine and fisheries families can safely navigate even in the darkest seas where waves crash."