Building a global maritime power hub by win-win partnership between shipping and shipbuilding



Objective

- Establishing one-stop service to support shipping companies; and expanding global supply chain


- Enhancing competitive edge of shipbuilding industry by developing technology to build eco-friendly vessels and providing subsidies for vessels’ going green

Details


- Rehabilitating Korean shipping: promoting one-stop service to support shipping companies based on Korea Ocean Business Corporation Act (established in 2017)

* Enhancing competitive edge of national fleets by adjusting overlapped routes and developing new routes led by Korea Shipbuilding Partnership (KSP; established in 2017)


- Shipping & shipbuilding’s win-win partnership: providing subsidies to coastal cargo ships to be replaced with eco-friendly vessels, following ocean-going vessels (initial target in 2018); and building up to 100 green vessels by 2022


- Establishing infrastructure for LNG-powered vessels along with promoting development of technology for eco-friendly & high efficiency vessels (launched in 2017); and rehabilitating shipbuilding industry by localizing materials for marine plants until 2022


- Maintaining stable shipping system: establishing contingency plan to transport various supplies in case of emergency based on Korea-version National Defense Reserve Fleet Scheme (introduced in 2019); and promoting use of national shipping companies by cooperation between ship-owners and shippers


- Creating expanded supply chain: following building 2 clusters for marine industry (2019), implementing renewal project targeted for Busan north port, Myodo Island at Gwangyang port and Yeongjongdo Island in Incheon (since 2017)


Goal

- Regain status as a maritime power house by accomplishing USD 5m in sales in shipping industry and 100m TEU in fleet capacity of pelagic containers by 2022


- Establishing win-win partnership between shipping and shipbuilding by building 100 eco-friendly vessels by 2022