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The South Korean government has presented a new initiative promoting eco-friendly ship technologies.
Entitled
“2030 Green Ship-K Initiative”, it is part of the country’s Act on Promotion of the Development and Distribution of Eco-Friendly Ships.
As explained, the initiative aims to align policies with the country’s Green New Deal and establish a brand image of a Korean eco-friendly ship.
Under the newly launched initiative, the Korean government will invest some KRW 960 billion (about $870 million) in eco-friendly ship technology development projects.
Specifically, the plan calls for the development of technologies necessary for future eco-friendly ships that would result in the reduction of greenhouse gas (GHG) emissions by 70 per cent. By using carbon-free ship technologies such as hydrogen and ammonia, Korea wants to reduce harmful ship emissions by 40 per cent in the next 25 years and by 70 per cent in the next 30 years.