672,000 Commemorative Stamps Issued for Korea's Shipbuilding Industry 'World No. 1'

Ujeong Business Headquarters to Sell Nationwide at Post Offices Starting the 15th

[Asia Economy Reporter Kim Bong-su] The Ministry of Science and ICT's Korea Post announced on the 15th that it will issue 672,000 commemorative stamps featuring four types of commercial vessels: crude oil carriers, container ships, bulk carriers, and icebreaking LNG carriers.

Korea's shipbuilding industry has focused its order strategy on high value-added vessels, regaining the world's top position in 2018 with a 38% share of global orders after seven years. Additionally, as environmental pollution regulations have tightened, demand for eco-friendly ships equipped with emission reduction facilities is increasing, and Korea possesses world-class eco-friendly shipbuilding technology.

Ships are classified according to their purpose into commercial vessels (merchant ships), special work vessels, warships, and fishing vessels. Among these, merchant ships are responsible for the majority of global cargo volume through maritime transport in the shipbuilding market.

Crude oil carriers are vessels dedicated to transporting crude oil as the main cargo, but they can also carry refined petroleum products. Their cargo holds are divided into multiple compartments, and crude oil is loaded and transported through pipelines within each compartment.

Container ships, which appeared in the 1960s and have a relatively short history, have brought the greatest change to maritime transport methods and currently account for most scheduled cargo transport. They transport containers?standardized units containing miscellaneous goods or parcels?loaded inside the ship’s cargo holds and on the deck.

Bulk carriers transport cargo such as grain, ore, and coal without packaging, loading them directly into the ship’s holds. They are also called dry bulk carriers or breakbulk cargo ships.

Icebreaking LNG carriers are vessels mainly used for polar navigation that break and clear ice on the water surface to open shipping lanes. They transport LNG cargo at an ultra-low temperature of minus 162°C and require specially constructed cargo holds capable of withstanding cryogenic conditions.

Park Jong-seok, head of Korea Post, said, “Through the issuance of these commemorative stamps, we hope this will be an opportunity to recognize and take pride in the world-leading technology of our shipbuilding industry.”

The commemorative stamps can be purchased by visiting a nearby post office or applying through the internet post office.