The South Korean government is set to invest 222.3 billion won in 2025 to support the construction and conversion of 81 eco-friendly ships, reinforcing its commitment to maritime decarbonization.
Key Aspects of the Investment Plan
- Government Mandate & Subsidies:
- Public sector: Mandatory construction of eco-friendly ships.
- Private sector: Up to 30% subsidies for eco-friendly shipbuilding and retrofitting.
- Past Progress (2021–2024):
- 199 vessels converted or built as eco-friendly ships.
- 118 public ships & 81 private vessels transitioned.
2025 Implementation Plan
- Total Investment: 222.3 billion won
- 163.5 billion won (national budget)
- 58.8 billion won (local government funds)
- Planned Conversions & Constructions:
- Public Sector:
- 34 new eco-friendly ships
- 15 ships retrofitted with particulate matter reduction devices (DPF)
- Private Sector:
- 20 new ships supported
- 12 vessels upgraded with eco-friendly technology
- Public Sector:
Support for SMEs & Green Shipping
The Ministry of Oceans and Fisheries will accept applications for the 2025 First Eco-Friendly Certified Ship Supply Support Project from January 30 to March 27.
- Eligible Companies: Small & medium-sized coastal shipping firms ordering LNG-fueled or electric propulsion ships.
- Financial Incentives:
- Up to 30% subsidy based on certification grade and ship construction costs.
Government’s Vision
Minister Kang Do-hyung emphasized that the investment aims to:
Accelerate the transition to eco-friendly ships
Support SMEs in complying with global decarbonization regulations
Significantly reduce greenhouse gas emissions in South Korea’s shipping sector
With this initiative, South Korea is reinforcing its leadership in green maritime solutions, aligning with international sustainability goals.
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Source: Chosun Biz
