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2025 February 3   18:00

South Korea invests $151 mln in green shipbuilding

South Korea is accelerating its green shipbuilding efforts by allocating Won222.3 billion (US$151 million) in 2025, according to Lloyd’s List.

This investment supports the construction and conversion of a total of 81 eco-friendly vessels as part of the country's plan to become a leader in sustainable shipping by 2030. 

This collaboration focuses on supporting the construction of 34 new public sector vessels using electric or hybrid propulsion technologies. Additionally, 15 existing public sector vessels will be retrofitted with diesel particulate filters to minimize emissions.  

The initiative also includes support for the private sector, with plans to construct 20 new environmentally friendly ships and provide financial assistance for installing abatement equipment on 12 existing private vessels. 

The investment builds upon the initial "basic plan" launched in 2020, which aimed to promote eco-friendly ships between 2021 and 2030. Key achievements include exceeding the initial target of constructing or converting 196 vessels by 2024 (199 completed - 118 public and 81 private) and reducing an estimated 100,000 tonnes of carbon dioxide emissions and 1,184 tonnes of particulate matter compared to 2018 levels. 

South Korea is further solidifying its green commitment by partnering with the United States to establish the world's first green shipping corridor across the Pacific Ocean, connecting Busan and Ulsan (South Korea) with Seattle and Tacoma (US). 

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