South Korea Develops Green Shipping Initiative

by Ship & Bunker News Team
Tuesday December 29, 2020

South Korea's government is seeking to kick-start the marine decarbonisation agenda in the country with a new initiative on green shipping.

Last week the Ministry of Ocean and Fisheries announced the '2030 Green Ship-K Initiative' in collaboration with the Ministry of Trade, Industry and Energy, seeking to develop the image of Korean ships as environmentally sound. 

The ministries announced funding of as 960 billion won ($878 million) to develop the supply and use of LNG, battery power and hybrid systems in shipping, with a longer-term aim of developing carbon-free fuels. The initiative sets a target of a 40% reduction in greenhouse gases over the next 25 years, and 70% reduction over the next 30 years.

More than ten ships will be built to demonstrate alternative fuels technologies as part of the plan.