Yeosu-si Designated as Regulatory Free Zone for Eco-friendly HDPE Small Fishing Boats

Published 14 Apr.2023 11:24(KST)

HDPE Material Development and Fishing Boat Construction Demonstration Project 추진

On the 14th, Yeosu City in Jeollanam-do announced that it was recently designated as the ‘Jeonnam Eco-friendly HDPE Small Fishing Vessel Regulatory Free Zone’ by the Ministry of SMEs and Startups.

The ‘Eco-friendly HDPE Small Fishing Vessel Regulatory Free Zone’ is an area where small fishing vessels under 10 tons can be manufactured and demonstrated using 100% recyclable eco-friendly HDPE (High-Density Polyethylene) material under special regulatory exemptions.

[Photo by Yeosu City]

Currently, 96% of domestic fishing vessels have been made from FRP (Fiber Reinforced Plastic). However, since FRP is non-recyclable, it has caused environmental pollution due to vessel abandonment resulting from disposal cost burdens.

The designated Jeonnam regulatory free zones include Yeosu National and Yulchon Industrial Complexes and coastal areas, Yeongam Daebul Industrial Complex, and the coastal area of Mokpo City. The project involves 14 institutions and companies, including Jeonnam Technopark, Korea Research Institute of Ships and Ocean Engineering, and Korea Maritime Transportation Safety Authority.

The designation period for the free zone is four years from this year until 2027, and starting next year, about 20 billion KRW including national funding will be invested over two years to promote HDPE material development, vessel construction, and demonstration projects.

In particular, Yeosu plans to focus on developing HDPE materials suitable for domestic coastal fishing environments, recycling used HDPE, and securing usage technologies.

As Yeosu accounts for 61% of the nationwide production volume of HDPE raw materials, it is expected to significantly strengthen the competitiveness of local companies and foster new industries through material development as the largest production site.

Jeong Gi-myeong, Mayor of Yeosu, said, “With this regulatory free zone designation, Yeosu will lead eco-friendly ship technology and aim to secure the HDPE material ship market in the future.” He added, “We will do our best in material development and project promotion by leveraging Yeosu’s unique advantage of having a concentration of research institutions.”

Yeosu = Asia Economy Honam Reporting Headquarters, Reporter Choi Cheol-hoon hss79@asiae.co.kr