Strengthening Public-private Cooperation to Build an Eco-friendly Ship Fuel Supply Chain

-Ministry of Oceans and Fisheries (MOF) to hold a meeting to discuss financial support measures for the eco-friendly ship fuel supply industry and collect industry opinions

 The MOF will hold a meeting at the Seoul Shipping Building to discuss financial support measures for the eco-friendly ship fuel supply industry.

 This meeting follows up on the "Measures to build an eco-friendly ship fuel supply chain" jointly announced by the relevant ministries at the Emergency Economic Ministers' Meeting in November of last year. The meeting will be attended by representatives of eco-friendly ship fuel-related shipping companies, shippers, suppliers, related organizations, and the Korea Ocean Business Corporation, which is in charge of financial support.

 The meeting will feature a presentation by the Korea Maritime and Ocean University on financial support measures for the eco-friendly ship fuel supply industry; an introduction of the plan to build the eco-friendly fuel supply chain in Korea; and a Financial support plan (draft) for the eco-friendly ship fuel supply industry, including the Eco-friendly Ship Fuel Infrastructure Fund to be established with an initial fund of KRW 1 trillion by the end of this year. The presentation will be followed by discussions on the topic and a collection of industry opinions.

 “Establishing an eco-friendly marine fuel supply chain is a critical factor that can determine Korea’s national competitiveness, but the domestic and international supply chains are not yet complete,” declared the Minister of Oceans and Fisheries Kang Do-hyung, adding, “As the related market is expected to grow significantly in line with the acceleration of global decarbonization, the government will do its best to support the growth of our eco-friendly ship fuel industry and its leadership in the global market.”