The South Korean government announced that it would invest more than 140 billion won in R&D in the shipbuilding sector so that South Korea’s share in the global high value-added ship market can reach 75 percent by 2030.

The government’s new projects in the sector include domestic development of LNG-fueled ship technologies. The investment will be made next year and additional investments will follow in developing carbon capture and storage for use in ships, rotor sails, and so on. 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.

At the same time, the government is working on new laws in relation to the commercialization of autonomous ship navigation based on remote control.