University, Research Institute, and Company 'Technology Development' Agreement
[Muan=Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] The localization of LNG ship cryogenic cargo tanks in Jeonnam Province is set to accelerate.
On the 21st, Jeonnam Province announced that it signed a 'Memorandum of Understanding for the Development of Cryogenic Insulation System Technology for Eco-friendly Ships' with universities, research institutes, and companies possessing the best technological capabilities in the domestic shipbuilding and marine sector.
The signing ceremony was attended by Kim Young-rok, Governor of Jeonnam Province; Jeon Dong-pyeong, Mayor of Yeongam County; Park Min-seo, President of Mokpo National University; Park Sang-jin, Director of Korea Institute of Machinery and Materials; Ha Tae-beom, Head of Research at Korean Register; Oh Ik-hyun, Head of Southwest Headquarters at Korea Institute of Industrial Technology; Kim Hyung-kwan, CEO of Hyundai Samho Heavy Industries; Choi Dong-gyu, Director of Central Research Institute at Daewoo Shipbuilding & Marine Engineering; Shim Yong-rae, Director of Samsung Heavy Industries Research Institute; Jung Dae-sung, CEO of Daehan Shipbuilding; Ha Moon-geun, CEO of KC LNG TECH; Choi Won-ho, Chairman of TMC; Lee Myung-hwa, CEO of Korea Carbon; Ahn Young-hoon, CEO of Northeast Asia LNG HUB Terminal; Song Ha-cheol, Director of Jeonnam Daebul Industry-Academia Convergence Institute; Professor Jang Beom-seon of Seoul National University; and Professor Kim Yu-il of Inha University.
The agreement was established to jointly undertake demonstration projects and technology development by related institutions and companies urgently needing the localization of 'LNG ship cryogenic cargo tanks (storage tanks)', which are leading the global market for eco-friendly ships.
According to the agreement, participating institutions and companies will mutually cooperate to accelerate the 'localization of LNG storage tanks' by ▲exchanging policies, research and development, technology, manpower, and information for building cryogenic insulation systems for eco-friendly ships ▲and conducting research and development for the future shipbuilding and marine industry.
Until now, domestic shipbuilders have paid foreign companies a high fee of about 10 billion KRW (5% of the ship price) as cargo tank design technology fees when constructing one LNG (Liquefied Natural Gas) ship.
With fierce competition from China in LNG ship orders, the development of Korea's own unique technology has become more urgent than ever.
Based on this agreement, the province plans to demonstrate the cargo tank manufacturing technology accumulated domestically and establish international standards.
Once localization is completed through the demonstration project, Korea is expected to lead the global eco-friendly ship industry.
Kim Young-rok, Governor of Jeonnam Province, stated, "With today's agreement, Jeonnam will become the mecca of the eco-friendly ship industry, including LNG ships," and added, "We will do our best to support technology development and demonstration research for the eco-friendly ship industry."
Meanwhile, the 'Project to Establish a Foundation for the Localization of Cryogenic Insulation Systems for Eco-friendly Ships' has been allocated 2 billion KRW in the government budget proposal for next year, and the Ministry of Trade, Industry and Energy plans to select a metropolitan local government to lead the project through a public contest early next year.
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