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S. Korea to invest 205 bln won to promote eco-friendly ships

Industry 11:00 January 12, 2021

SEOUL, Jan. 12 (Yonhap) -- South Korea said Tuesday it will allocate 205 billion won (US$186.3 million) to adopt eco-friendly technologies for the local maritime industry in line with the country's green energy drive.

Under the project, the country will seek to build a total of 39 eco-friendly ships this year, including 23 for the public sector, according to the Ministry of Oceans and Fisheries.

The latest move came in line with the government's vision to operate around 530 eco-friendly ships by 2030.

To promote the use of liquefied natural gas (LNG), the country also plans to secure two bunkering ships.

All ships can also receive compensation of up to 20 percent of the costs needed to adopt eco-friendly solutions. Previously, such incentives were provided to only those heading overseas.

This file photo provided by STX Offshore & Shipbuilding shows a liquefied natural gas (LNG) bunkering ship. (PHOTO NOT FOR SALE) (Yonhap)

colin@yna.co.kr
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