The South Korean government announced that it aims to invest more than 140 billion won in R&D in the shipbuilding sector, in order for its share in the global high value-added ship market to reach 75% by 2030.
ore specifically, the government’s new projects in the sector include domestic development of LNG-fueled ship technologies.
According to local media, the investment will be made next year and additional investments will follow in developing carbon capture and storage for use in ships, and rotor sails.
In addition, a liquid hydrogen carrier prototype is scheduled to be built starting from 2024 and the carrier is expected to be put into commercial operation in 2029.
In the meantime, South Korea is also working on new laws in relation to the commercialization of autonomous ship navigation based on remote control.