K-Cosun and Shilla Metal Sign Agreement for Joint Development of Energy-Saving Devices

[Asia Economy Yeongnam Reporting Headquarters, Reporter Song Jong-gu] K-Chosun announced on the 7th that it has signed a business agreement with Shilla Metal for the "joint development and application of eco-friendly ship propulsion designs and energy-saving devices."

The business agreement was made at Shilla Metal's Noksan factory, and the signing ceremony was attended by K-Chosun's Head of Technology Division Ko Tae-hyun, Director of the Technology Research Institute Lee Cheol-ho, and Shilla Metal's CEO Kim Hyung-jin, Director of the Technology Research Institute Jang Young-hoon, along with other officials from both companies.

Keijoan Technical Director Ko Tae-hyun and Shilla Metal CEO Kim Hyung-jin are taking a commemorative photo after signing the MOU.

Both companies stated, "Aiming for the International Maritime Organization (IMO)'s 'NET-ZERO' goal, we intend to establish a strategic cooperation system through research and development of high-efficiency ship propulsion designs and energy-saving devices that respond to strengthened environmental regulations, thereby enhancing the international competitiveness of ships and shipbuilding equipment."

Shilla Metal CEO Kim Hyung-jin said, "Through the cooperation between K-Chosun, which already has technological competitiveness in the medium-sized ship market, and Shilla Metal, which has specialized technology in the ship propulsion field since 1975, we hope this will be an opportunity to create joint achievements for both companies and establish a win-win cooperation system among shipyards and equipment manufacturers."

Accordingly, both companies plan to jointly carry out ▲ development of high-efficiency propulsion designs ▲ low-cost, high-efficiency energy-saving devices suitable for small and medium-sized ships ▲ and technology development for propulsion weight optimization.