South Korea will incubate technologies for eco-friendly vessels, autonomous vessels, and smart maritime mobility services in a bid to increase the country’s global market share in those sectors to 12 percent by 2027.
Maritime Evolution
Shipbuilders and logistics firms shift to eco-vessels using clean fuels like methanol, ammonia, and electricity to cut carbon emissions.
The push follows IMO’s 2050 zero-emission goal. Additionally, the UN agency is developing safety guidelines for autonomous ships, expected to boost fuel efficiency and safety by eliminating human errors and enabling continuous operation.
Ambitious Expansion
South Korea aims to boost its global market share in eco-friendly and autonomous maritime sectors to 12% by 2027, a leap from the current 1%.
Valued at $54.3 billion, this blueprint includes plans for fully unmanned ships, green fuel infrastructure, and tax incentives for operators shifting to clean energy vessels. The country seeks to develop cutting-edge technologies and establish alternative fuel supplies as part of its ambitious strategy.
“To breathe vitality into the South Korean economy and secure new export growth drivers, I will work seamlessly with relevant ministries and agencies to implement the strategy for fostering advanced marine mobility,” Oceans Minister Cho Seung-hwan said in a statement on November 27.
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Source: Aju Korea Daily
