South Korea is significantly increasing its investment in advanced shipbuilding technologies, earmarking $179 million for development in 2025. This represents a substantial 40% rise in budget compared to 2024, according to the Ministry of Commerce, Industry and Energy.
The investment will be strategically allocated:
- $116.9 million for eco-friendly ship technologies, including clean energy sources like ammonia and electricity, and environmentally friendly equipment such as wind power auxiliary devices.
- $48.1 million for digital transformation of shipbuilding processes.
- $13.7 million for the development of autonomous ships.
This initiative aligns with South Korea’s broader strategy, unveiled in July, to secure cutting-edge shipbuilding technologies by 2040, encompassing full autopilot capabilities and carbon-free engines for sustainable industry growth.
The increased investment follows a successful year for South Korean shipbuilders. For the first time in 13 years, all three major companies reported operating profits in 2024, driven by a supercycle in the industry and strong sales of high-value vessels.
- HD Korea Shipbuilding & Offshore Engineering Co. saw a 408% surge in operating profit to $983.9 million.
- Hanwha Ocean Co. reported an operating profit of $163.6 million.
- Samsung Heavy Industries Co. posted an operating profit of $345.9 million, a 115% increase year-over-year.