S. Korea aims to expand ‘green’ ships to solidify top position in premium vessel sector

SEOUL-- South Korea unveiled a new blueprint Thursday to beef up the competitiveness of its shipbuilding industry by expanding its presence with increased environment-friendly vessels.

Under the blueprint, the country's shipyards seek to take up 75 percent of the market for vessels emitting less carbon or none at all by 2030, significantly rising from 66 percent tallied this year, according to the Ministry of Trade, Industry and Energy.

The latest goal comes in line with changing global regulations, with the International Maritime Organization (IMO) also launching tougher environmental guidelines for the maritime industry last year, inducing ships to use clean fuel, such as low-sulfur fuel oil.

South Korea's shipbuilding sector recently has been recovering from its industry-wide slump over the past years.

Of the estimated 30.2 million compensated gross tons (CGTs) worth of orders launched around the globe in the January-July period, South Korea accounted for 42 percent, marking the largest volume in around 13 years.

Local shipbuilders, especially, secured 63 percent of orders for premium ships, including large-sized container carriers, during the cited period, along with 66 percent of eco-friendly models, the ministry data showed.

"The global shipbuilding industry has been recovering on the back of demand for premium and environment-friendly ships," the ministry said in a statement, pointing out the country will continue to take advantage of the new industrial trend to further revitalize its shipbuilding industry.

The ministry said it plans to beef up the country's related infrastructure, and construct two LNG bunkering ships by 2022, along with a charging terminal in the southeastern industrial city of Ulsan by 2024.

The country will support the development of ships running on carbon-free resources, such as ammonia and hydrogen, as well.

Earlier this year, the government said it plans to spend around 254 billion won (US$217 million) from 2022 through 2031 to develop technologies for ships fueled by clean energy.

South Korea, meanwhile, plans to take up 50 percent of the global market for autonomous vehicles by 2030.

The country plans to prepare related laws and policies by 2023 and complete the development of such ships by 2025.

The ministry added it will supply around 8,000 additional workforces into the industry by 2022 by training new experts and recruiting foreign workers.

Source: Yonhap News Agency

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