Invest KOREA

According to Yonhap News,

By Kang Yoon-seung
SEOUL, April 28 (Yonhap) -- South Korea said Wednesday it plans to invest 36.4 billion won (US$32.3 million) to build a new test bed to speed up the development of carbon-neutral ships.

A new test center will also be built in Mokpo, 410 kilometers south of Seoul, where businesses and institutions can demonstrate their newly developed technologies, according to the Ministry of Oceans and Fisheries.

Under the plan, the government will build a new ship that can test various engines, including those powered by electric or hydrogen, by 2025, it added.

As the ship's engines can be replaced, it will significantly cut the cost of building separate ships for different models.

The ministry said the scheme will lend a hand to South Korea's efforts to go carbon neutral by 2050, and speed up the development of environment-friendly ships.

The move also came as the International Maritime Organization (IMO) launched tougher environmental guidelines for the maritime industry last year, inducing ships to use clean fuel, such as low-sulfur fuel oil.

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Source:Yonhap News (Apr 28, 2021)