KR  and HD Hyundai Global Service signed a Memorandum of Understanding  to cooperate on their verification of maritime carbon reduction solutions, at Kormarine 2023 held in Busan, South Korea.

As decarbonization regulations are gradually being strengthened, shipping companies are actively utilizing digital technology to reduce carbon emissions more efficiently.

The two organizations signed the MoU to respond to these changes and cooperate closely for the development of “shipping and maritime big data and artificial intelligence (AI) technology”, a convergence of digital and carbon-neutral technologies.

Through this agreement, HD Hyundai Global Service plans to develop a monitoring system for carbon emissions using AI technology, forecasting and management solutions providing API (application programming interfaces), and data-related scenarios before and after applying carbon reduction solutions. KR will review the accuracy of ‘OceanWise’, the latest solution of HD Hyundai Global Service, and develop objective standards about the effectiveness of carbon reduction solutions.

LEE Hyungchul, Chairman and CEO of KR said, “In this challenging time with strengthened international decarbonization regulations, it is essential for shipping companies to find efficient ways to reduce carbon emissions to secure competitiveness, and the convergence with digital technology will be the solution. We will fully support the industry to achieve more progress in eco-beneficial digital technology through the collaboration with HD Hyundai Global Service.”

LEE Kidong, CEO of HD Hyundai Global Service added, “We are glad to be able to officially prove the value of our solution with the cooperation of KR. Our carbon footprint monitoring system will meet the various industry demands regarding carbon emission management and it will be a very useful tool for exploring new business opportunities.”