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Completing Korea’s Shipbuilding-Shipping Alliance with the Next-Generation W.A.V.E. Strategy

  • Date

    2026.05.08.

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    67

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Completing Korea’s Shipbuilding-Shipping Alliance with the Next-Generation W.A.V.E. Strategy
- The Ministry of Oceans and Fisheries and the Ministry of Trade, Industry, and Energy hold the launch ceremony for the Strategic Council for Mutual Growth of Shipbuilding and Shipping
- Announcement of the W.A.V.E.* strategy to reinforce the technological super gap in shipbuilding and the industrial ecosystem
* W.A.V.E.: World-class Alliance for Vessels Production & Ecosystem
- Implementation of joint domestic ship orders, strategic LNG cooperation, and expansion of ROK-U.S. cooperation (MASGA)

A public-private cooperation framework aimed at mutual growth and joint strengthening of industrial competitiveness in the shipbuilding and shipping industries has been officially launched. The Ministry of Oceans and Fisheries (MOF; Minister Hwang Jong-woo) and the Ministry of Trade, Industry, and Energy (MOTIE; Minister Kim Jeong-kwan) jointly held the launching ceremony for the Strategic Council for Mutual Growth of Shipbuilding and Shipping at Lotte Hotel in Seoul on Tuesday, April 28 at 4:30 PM (KST). At the Autonomous Ship M.AX Alliance Strategy Meeting last December, the shipbuilding and shipping associations agreed to form a mutual cooperation council at an early date, and today's event implements that decision.
About 100 participants—including the ministers of both ministries, representatives from Korea Gas Corporation, Korea Shipbuilding & Offshore Engineering Association, Korea Shipping Association, and major domestic shipbuilders and shipping companies—attended the meeting and agreed to strengthen the strategic alliance between shipbuilding and shipping.

1. Launching the Strategic Council for Mutual Development Between Shipbuilding and Shipping

Major competitor countries have recently expanded domestic orders by linking their shipping and shipbuilding industries. However, a lack of mutual growth and linkages between the two industries has been noted even though South Korea possesses world-class shipbuilding competitiveness (2nd in global orders) and shipping capabilities (4th in global container capacity). In particular, as geopolitical risks such as the transportation of key energy resources have increased due to recent conflicts in the Middle East, the importance of establishing a maritime supply chain connecting domestic shipbuilding with transportation by national flag vessels has grown. In recognition of this, the associations representing the shipbuilding and shipping industries, together with experts from shipbuilders, shipping companies, government, and academia, formed the Strategic Council for Mutual Growth of Shipbuilding and Shipping. The Strategic Council has announced the W.A.V.E. Plan as a key implementation strategy.
Representing the vision for mutual growth between the shipbuilding and shipping industries, the W.A.V.E. strategy encompasses four elements: ❶ W (World-Class) - securing world-class, super-gap technologies, ❷ A (Alliance) - forming broad industrial linkage alliances across shipbuilding and shipping, ❸ V (Vessel production) - expanding the Korean-flagged fleet and securing work for domestic shipbuilders, and ❹ E (Ecosystem) - a mutually beneficial innovation ecosystem based on the regional economy.
Moving forward, both industries agreed to identify quickly the detailed tasks for each of the four strategies within the Strategic Council framework and to establish specific implementation plans by year-end. The Strategic Council will operate as a practical consultation platform that continuously manages expert task forces on major issues such as technology development, demonstration, procurement, finance, and institutional improvement and links policy recommendations at quarterly meetings. In particular, it plans to focus more on generating results of mutual growth and co-prosperity while encompassing the regional industrial ecosystem including shipbuilding, shipping, and equipment.

2. Announcement of Declaration on the Joint Ordering of National Flag Vessels (Jointly by Shipbuilding and Shipping Associations)

Today, as the first step in strategic collaboration, Korea’s shipbuilding and shipping associations adopted the Declaration on the Joint Ordering of National Flag Vessels for the Development of the Korea Shipbuilding & Shipping Cluster and decided to strengthen order linkages and strategic cooperation between domestic shipping companies and shipyards. The declaration is expected to enable Korean shipping companies to expand their fleets with the latest technology at economical prices—as shown by the recent joint order of six 1,900 TEU container ships by Korea Shipping and ten 2,800 TEU container ships by HMM from HD Hyundai Heavy Industries—and to lead to shipbuilders and equipment manufacturers securing stable orders.

3. Signing of MOU for the Development of Domestic LNG Transport (Jointly by the Three Major Shipbuilders, Korea Gas Corporation, and Korea Shipping Association)

In addition, the three shipbuilding companies, Korea Gas Corporation, and Korea Shipping Association signed the MOU for the Development of LNG Transport at today’s event. With resource security emphasized more than ever due to the recent international circumstances, self-reliance in the energy transportation sector is an essential task for Korea given its reliance on imports for major energy sources. Under this MOU, shipbuilders, gas companies, and shipping companies will jointly strengthen strategic cooperation to ensure the stability of the LNG transport system.

4. Strengthening cooperation between the Ministry of Trade, Industry, and Energy and the Ministry of Oceans and Fisheries as the lead ministries for shipbuilding and shipping

On this day, the government and the industries reaffirmed their plan to establish a "one team" structure wherein the shipbuilding and shipping sectors move beyond their respective domains and operate under a single industrial strategy encompassing technology development, demonstration, and fleet expansion. Accordingly, MOF and MOTIE plan to implement institutional improvements, budget support, the establishment of demonstration infrastructure, and linkages with regional industrial bases as a "one team," based on shipbuilding and shipping field opinions.
In particular, while jointly operating the Autonomous Ship M.AX Alliance, they plan to initiate a KRW 600 billion project to develop an AI-based, fully autonomous ship technology this year centered on the Alliance with corporate demand reflected. In addition, to foster future growth engines such as eco-friendly vessels powered by ammonia and electric propulsion and localization of LNG cargo tanks, MOF will identify demand for demonstration projects and MOTIE will actively support the development of core technologies. The two ministries agreed to cooperate to strengthen the industrial ecosystem through the linkage of the shipbuilding and shipping industries. They also plan to expand the scope of cooperation under the Korea-US Shipbuilding Cooperation (MASGA) Project to include the shipping and port sectors.
“The shipping and shipbuilding industries have grown by serving as pillars for each other as core partners supporting the national economy and import/export logistics. I believe the launch of this Strategic Council will serve as an important opportunity for both industries to be reborn as a strong ‘public-private one team’ and further enhance their global competitiveness. The Ministry of Oceans and Fisheries will further strengthen cooperation with the Ministry of Trade, Industry, and Energy in areas such as autonomous ship technology development and energy security,” Minister of the Ministry of Oceans and Fisheries Hwang Jong-woo said.
Meanwhile, Minister of the Ministry of Trade, Industry, and Energy Kim Jung-kwan noted that shipbuilding and shipping are national economic security industries. "It is noteworthy that we have fully launched an action-oriented cooperation system that goes beyond the level of individual industries to design and promote demand, technology, demonstration, and institutional improvements jointly. I look forward to the shipping and shipping industries leaping forward together and riding the upcoming wave of prosperity based on the W.A.V.E. strategy. The Ministry of Trade, Industry, and Energy will work closely with the Ministry of Oceans and Fisheries to ensure that the cooperation efforts announced today—such as joint ordering, future ship technology development, and strengthening of the industrial ecosystem—lead to tangible results,” he added.
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