South Korean shipbuilding majors have decided to share their patents with smaller local counterparts as a way of helping them develop the capability to build eco-friendly ships.
Namely, Hyundai Heavy Industries Co. (HHI), Daewoo Shipbuilding & Marine Engineering Co. (DSME), and Samsung Heavy Industries Co. (SHI) will open about 2,500 patents, which will be managed by a new innovation center in the southeastern industrial city of Ulsan, Yonhap news agency reported.
The announcement comes as the international maritime community pushes for cutting of pollution from ships by introduction of innovative shipbuilding technology.
As a result, the demand for green technology, including for ships powered by alternative fuels, such as liquefied natural gas (LNG), has been on a constant rise.
South Korea wants to tap into that potential even further by expanding the know-how on construction of these technologically-advanced ships across its yards.
The global market for the construction of LNG-fuelled ships is expected to increase from the current KRW 6 trillion (USD 5.24 billion) to around KRW 150 trillion (USD 131 billion) in the next ten years, South Korea’s Ministry of Trade, Industry and Energy said in a statement.
World Maritime News Staff; Image: SHI