South Korea and Australia have signed a memorandum of understanding (MOU) to establish a green shipping route, with trial operations targeted for the first half of 2029. The agreement aims to create a zero-carbon emission shipping corridor by utilizing nature-friendly technologies and non-carbon fuels.
The MOU was finalized after Korean Minister of Oceans and Fisheries Kang Do-hyung signed the document in Seoul. Australian Minister for Infrastructure, Transport, Regional Development, and Local Government Catherine King had previously signed the MOU, which was then delivered to Korea.
The agreement focuses on several key areas: establishing the green shipping route, joint responses to eco-friendly shipping issues within the International Maritime Organization (IMO), fostering the supply and use of alternative clean fuels, and facilitating exchanges among related organizations. A preliminary feasibility study for the green shipping route is slated to begin in the first half of this year.
"Green shipping corridors will be the most effective tool in achieving carbon neutrality in the shipping industry," stated Oceans Minister Kang Do-hyung.
The MOU commits both nations to cooperate towards achieving carbon neutrality in the global shipping industry by 2050, aligning with and responding to the IMO's regulations on carbon emissions. They will also collaborate on developing and promoting eco-friendly digital technologies for the shipping industry.
The Ministry of Oceans and Fisheries is a government agency of South Korea responsible for maritime affairs, fisheries, and related industries. It manages ports, shipping, fisheries resources, and marine environment protection.
Department of Infrastructure, Transport, Regional Development and Local Government (Australia) is responsible for infrastructure, transport, regional development, and local government. Its responsibilities include developing and implementing national transport policies, overseeing infrastructure projects, and promoting regional development.
International Maritime Organization is a specialized agency of the United Nations responsible for regulating international shipping. The IMO sets standards for ship design, construction, equipment, and operation, including regulations related to greenhouse gas emissions and environmental protection.