889 Eco-Friendly Ships to Be Secured by 2035 as Green Shipping Roadmap Gets Underway

[Financial News] The government is accelerating legal revisions and the implementation of basic plans to support the transition to green shipping. Through these efforts, it aims to convert a total of 889 ships into eco-friendly vessels by 2035.
The Ministry of Oceans and Fisheries (MOF) said on the 27th that it plans to announce a draft of the enforcement decree and enforcement rules for the Special Act on Support for Green Shipping Corridors from Sept. 2 to Oct. 13. The special act is scheduled to take effect on April 1 next year.
 A green shipping corridor refers to a route that aims for low-carbon and zero-carbon emissions in logistics transport between ports. To make this possible, low-carbon and zero-carbon fuels, as well as eco-friendly technologies, are needed.
 Accordingly, MOF plans to specify green ship fuels and eco-friendly port requirements in the subordinate rules of the special act. The rules will also include detailed standards and procedures for items such as establishing the basic plan and designating and announcing green shipping corridors.
 In addition, MOF is jointly promoting the Second Basic Plan for the Development and Distribution of Eco-Friendly Ships with the Ministry of Trade and Industry.
 The plan includes five key strategies: research and development of future low-carbon ships, commercialization of new technologies, expansion of eco-friendly fuel supply infrastructure, wider adoption of eco-friendly ships, and the creation of a green shipping and shipbuilding ecosystem. Through this, the government plans to support the conversion of a total of 889 private and public vessels by 2035.
 The government will focus support on eco-friendly ship design and equipment demonstrations to strengthen the competitiveness of small and medium-sized shipbuilders and equipment makers. It also plans to promote domestic construction of eco-friendly ships by reinforcing strategic ties between shipbuilding and shipping.
 Jeong Do-hyeon, director general of the Maritime Affairs and Safety Policy Bureau at MOF, said, "If the Green Shipping Corridor Support Act focuses on ship support for the development and expansion of eco-friendly technologies, the Special Act on Support for Green Shipping Corridors will support decarbonization across the entire shipping process." He added, "Based on the Special Act on Support for Green Shipping Corridors and the Second Basic Plan for the Development and Distribution of Eco-Friendly Ships, we will build a decarbonized shipping ecosystem and actively support our industries so they can lead the global market."
 Kim Eui-jung, director of manufacturing industry policy at the Ministry of Trade and Industry, said, "We will faithfully implement the second basic plan for eco-friendly ships to secure a foothold in the global eco-friendly ship market and create new business opportunities for the domestic shipbuilding ecosystem." He added, "To secure cutting-edge technologies for K-Shipbuilding, we will further accelerate the shipbuilding industry's AI transformation and strengthen strategic ties with shipping through the Shipbuilding-Shipping Mutual Growth Strategy Council, which was launched in April, while also working closely with MOF."

[email protected] Kim Jun-hyeok Reporter