Annex A. Recent measures for the shipbuilding sector
Copy link to Annex A. Recent measures for the shipbuilding sector|
Type |
Categories |
Name |
Outline |
Start year |
|---|---|---|---|---|
|
Act |
Industrial policy |
Act on the Promotion of Development and Commercialisation of Autonomous Ships |
The law is designed to provide the legal foundation for comprehensive policies related to autonomous ships. |
2025 |
|
Act |
Industrial policy |
Act on Promotion of Development and Distribution of Environmentally Friendly Ships |
The law enacted in 2018 and entered into force in 2020 is designed to mandate the public sector to build environment-friendly ships and provide the private sector with a legal basis to reduce acquisition taxes and provide subsidies when converting into environment-friendly ships. |
2020 |
|
Act |
Industrial policy |
Special Act on the Corporate Revitalisation |
The law is designed to contribute to the sound development of the national economy through improvement of corporate vitality and the competitiveness of industries, and the promotion of competition in markets by improving relevant procedures, regulation, etc., so that companies may promptly engage in voluntary corporate restructuring. |
2016 |
|
Strategy |
Industrial policy |
K-Shipbuilding Super Gap Vision 2040 |
To set the roadmap with domestic shipbuilders and other stakeholders, with the aim of making Korea the leader in the industry’s green, smart, and digital technologies. |
2024 |
|
Strategy |
Industrial policy |
K-Shipbuilding Re-leap Strategy |
(1) Train 8 000 shipbuilding workers by 2022, increase productivity by 30% by 2030 (compared to 2020) (2) Maintain global No. 1 by expanding market share in eco-friendly and autonomous ships (3) Eco-friendly ships (2021) 66% - ('30) 75%, autonomous ships (2021) 0% - ('30) 50% Building a healthy shipbuilding industry ecosystem (4) Small and medium-sized shipbuilders promote eco-friendly and digital transformation of shipbuilding equipment industry. |
2021 |
|
Strategy |
Industrial policy |
2030 Greenship-K Promotion Strategy |
This strategy explores advanced emission-free technologies which enable to phase out greenhouse gases (GHG) emission up to 70 percent by 2030 in such an arena as ship design, future fuel, renewable energy and equipments and so on. |
2020 |
|
Support |
Industrial policy |
The Certified Environment-Friendly Vessel Supply Support Project |
The building or conversion of environment-friendly ships by the MOF, local governments, and public institutions. |
2025 |
|
Support |
Industrial policy |
Eco-Friendly Ship Fuel Infrastructure Fund |
This Fund established by the Ministry of Oceans and Fisheries (MOF) and the Korea Ocean Business Corporation (KOBC) provides practical financial support for the construction of eco-friendly fuel storage facilities in ports in Korea and enable shipping companies to build bunkering vessels dedicated to supplying these fuels. Specifically, it will invest KRW 600 billion of the KRW 1 trillion fund to build port storage facilities capable of supplying LNG, methanol, and ammonia by 2030, with the remaining KRW 400 billion to be invested in the construction of 4 LNG and ammonia bunkering vessels. |
2025 |
|
Support |
Industrial policy |
Smart Eco-Factory Support Program (KECO) |
A support program by the Korea Environment Corporation (KECO) to assist SMEs in establishing smart eco-factories with digital and environmental innovation. It provides financial assistance for automation, energy monitoring, and pollution control systems to reduce emissions and improve efficiency. |
2021 |
|
Support |
Industrial policy |
Win-Win Co-operation Support Program |
A joint program by MOTIR (formerly MOTIE) and large firms to support SMEs through technology transfer, ESG upgrades, and process innovation. It promotes mutual growth between large companies and suppliers, especially in green and smart shipbuilding. |
Unknown |
|
Support |
Industrial policy |
Emission Reduction Facility Support Program for Target Management |
A KECO-managed program that supports facilities subject to Korea's GHG Target Management System. It subsidizes the installation of emission-reduction equipment to help meet mandated targets. |
2017 |
|
Support |
Industrial policy |
Energy Efficiency Market Creation Industry Support Program (KEA) |
Administered by the Korea Energy Agency (KEA), this program supports the deployment of high-efficiency energy products and services. It promotes ESCO-based projects and financial assistance for efficient equipment in the manufacturing sector. |
Unknown |
|
Support |
Industrial policy |
Energy Management System Infrastructure Establishment Support Program (KEA) |
KEA’s program that provides support for installing EMS (Energy Management Systems) in industrial sites. It helps factories monitor and optimize energy usage in real time, aiming to digitalize energy management and reduce operational costs. |
Unknown |
|
Support |
Industrial policy |
Carbon Reduction Support Program (KOSMES) |
A financing program by the Korea SMEs and Startups Agency (KOSMES) that supports SMEs in adopting low-carbon equipment and technologies. It offers low-interest loans and grants to reduce GHG emissions and support the carbon neutrality transition. |
Unknown |
|
Support |
Industrial policy |
Environment-friendly ship support program |
This program is jointly invested by Korea Ocean Business Corporation (KOBC) by Korea Ocean Business Corporation Act and Korea Development Bank (KDB) for environment-friendly ships (other than container ships) to be introduced by national shipping companies (including second-hands ships). |
Unknown |
|
Support |
Industrial policy |
Support to secure ships (Investment) |
This program is to support domestic shipping companies securing new building and second-hand vessels by the KOBC proving investment program. Support to secure eco-friendly, high-efficiency vessels Provide a financial support through various finance programs depending on a deal structure |
Unknown |
|
Support |
Industrial policy |
Ship introduction guarantee |
The Ship Introduction Guarantee Program is a guarantee initiative by which the KOBC provides debt guarantees to cover risk of default by shipping companies regarding funds borrowed from creditors (financial institutions, etc.) when a domestic shipping company introduces new ship builds or second-hand Ships. Reinforcing credit of shipping companies, improving repayment possibility for financial institutions, and revitalising ship finance Overseas financial institutions (creditors) debt guarantee Guarantee ratio: 95%. |
Unknown |
|
Support |
Industrial policy |
BBC (bareboat) program |
This program is a transaction type of leasing ships purchased and owned by the KOBC to shipping companies.
|
Unknown |
|
Support |
Industrial policy |
Ship S&LB |
Ship S&LB(BBCHP) program is a transaction in which the KOBC purchases ships owned by domestic shipping companies and leases them back to the shipping companies through BBCHP (financial lease). Upon expiration of lease period, ownership of the ship is transferred to the shipping company.
|
Unknown |