Small and Medium-sized Shipping Companies to Transition to Eco-friendly Ships

 

MOF holding a briefing session for small and medium-sized shipping companies on the transition to eco-friendly ship project

 

 The Ministry of Oceans and Fisheries (MOF; Minister Kang Do-hyung) announced that it would be holding a briefing session on policies to support the transition to eco-friendly ships for small and medium-sized Korean shipping companies at the Korea Shipowners' Association (KSA) in Yeongdeungpo-gu, Seoul, on Thursday, March 13.

 

 Transition to eco-friendly ships has become a hot topic in the shipping industry in line with the International Maritime Organization (IMO)’s goal of achieving carbon neutrality in international shipping by 2050 (2023 greenhouse gas reduction strategy*).

 

 * Goal of reducing carbon emissions in the international shipping sector by at least 20% by 2030 and at least 70% by 2040 and achieving net zero carbon emissions by 2050.

 

 MOF is implementing ▲the loan interest support project to introduce eco-friendly facilities and ▲a subsidy project to build eco-friendly ships to help domestic small and medium-sized shipping companies with limited financial resources respond to IMO's strengthened international environmental regulations. The ministry also provides financial support (funds, guarantees, etc.) through Korea Ocean Business Corporation (KOBC) for the building of eco-friendly ships.

 

 During the briefing session, MOF will explain the projects for the transition to eco-friendly ships and discuss the challenges faced by Korean small and medium-sized shipping companies in relation to the transition to eco-friendly ships.

 

 “The transition to eco-friendly ships is an inevitable task of our time. We are committed to providing full policy support to ensure that Korean small and medium-sized shipping companies can make the transition to eco-friendly ships in a timely manner in line with international standards,” Minister Kang Do-hyung said.

 

 For more details about the briefing session and support for transition to eco-friendly ships, contact the Shipping Policy Division (+82-44-200-5717) of MOF or Eco-Friendly Policy Team (+82-51-795-1623) of KOBC.