Signing of an MOU on the Establishment of a Green Shipping Route between Korea and Australia

- The MOU is expected to achieve the goal of international shipping carbon neutrality and create a favorable environment for the supply of eco-friendly fuel.

 The Ministry of Oceans and Fisheries (MOF; Minister Kang Do-hyung) announced on Monday, February 10, that it has signed a Memorandum of Understanding (MOU) with the Australian Ministry for Infrastructure, Transport, Regional Development and Local Government for cooperation in establishing a Korea-Australia green shipping route.* Australian Ambassador to Korea Jeff Robinson attended the signing event.

 * A shipping route on which no carbon emissions are generated during maritime transportation between ports due to the use of carbon-free fuel and eco-friendly technology.

 The Korea-Australia MOU was initially signed by Catherine King, Australia's Minister for Infrastructure, Transport, Regional Development and Local Government, in January, and was then delivered to Korea by Australian Ambassador to Korea Jeff Robinson for the final signing of the joint agreement by Minister of Oceans and Fisheries Kang Do-hyung.

 South Korea and Australia will pursue cooperation in various areas, such as establishing green shipping routes, coordinating a joint response to green shipping-related issues at the International Maritime Organization (IMO), promoting the creation of an eco-friendly fuel supply environment, and organizing exchanges between the relevant organizations.

 Starting in the first half of this year, Korea and Australia will begin in earnest the process of establishing green shipping routes between the two countries, including a preliminary feasibility study of potential green shipping routes between their main ports.

 “Establishing a green shipping route is the most effective means of achieving carbon neutrality in the shipping industry. I hope that the signing of this MOU will provide an opportunity for our two countries to strengthen cooperation in successfully establishing green shipping routes between Korea and Australia,” Minister Kang Do-hyung said.