Up to 30% Support for Eco-friendly Shipbuilding Costs

- September 6 ~ October 31 Announcement of 3rd project to support the distribution of local vessels with eco-friendliness certification

 The Ministry of Oceans and Fisheries (MOF) is accepting applications for the Project to Support the Distribution of Ships with Eco-Friendliness Certification, which aims to support the construction of eco-friendly ships by small and medium-sized coastal shipping companies traveling to and from domestic ports.

 Since 2021, the ministry has implemented the Project to Support the Distribution of Ships with Eco-Friendliness Certification to encourage domestic coastal shipping companies to operate eco-friendly ships in line with global carbon neutrality efforts. A total of 14 ships were supported through the project until last year, with 3 ships selected this year.

 Coastal shipping companies that order ships with eco-friendliness certification of grade 3 or higher—including hybrid, electric, and liquefied natural gas (LNG) fuel-powered ships—are eligible for support. Companies selected as support targets are eligible to receive subsidy of up to 30% of the ship price—depending on the certification grade and shipbuilding cost—within the budget range. Beginning this year, they will also receive a reduction in acquisition tax. The MOF and Korea Maritime Transportation Safety Authority websites provide detailed information including eligibility and application procedures for the distribution support project.