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South Korea invests $6.7 bln in shipbuilding initiative

Posted on March 6, 2024

South Korea, aiming to pioneer future technologies in the shipbuilding industry, has launched an ambitious initiative in collaboration with the nation’s top shipbuilders, according to BNN. Dubbed the “K-Shipbuilding Next Generation Initiative,” this strategic move is poised to position South Korea as a global leader in maritime innovation. Announced by the Ministry of Trade, Industry and Energy, the initiative seeks to infuse approximately 9 trillion won (around $6.7 billion) over the next five years. This investment will foster the development of super-gap technologies, marking a significant leap forward in the competitive global shipbuilding market.

The initiative’s roadmap lays the foundation for a series of groundbreaking projects, including the development of the world’s first liquid hydrogen carrier by 2030. Additionally, it aims to pioneer the international standard for unmanned autonomous vessels, showcasing South Korea’s ambition to lead the next wave of maritime innovation. This strategic roadmap, set to be fully adopted within the first half of this year, represents a comprehensive plan to not only embrace but also shape the future of shipbuilding technology. The collaboration between the public and private sectors serves as a testament to the nation’s dedication to achieving these ambitious goals, ensuring the seamless integration of cutting-edge research and development efforts.


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