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Public-private alliance to boost shipbuilding, shipping sectors kicks off

Published: 28 Apr. 2026, 19:06

A general view shows HD Hyundai Heavy Industries Ulsan Shipyard in Ulsan on Dec. 29, 2023. [REUTERS/YONHAP]

An alliance for the promotion of balanced growth of the shipbuilding and shipping industries kicked off Tuesday, jointly led by the government and major companies in the sector, officials said.

The alliance was established under the so-called World-class Alliance for Vessels Production & Ecosystem strategy aimed at promoting deeper cooperation between Korea's shipbuilding and shipping industries. It also comes amid a pressing need for Korean companies to boost global competitiveness as the importance of the maritime sector is growing, according to the Ministry of Trade, Industry and Resources and the Ministry of Oceans and Fisheries.

The alliance comprises officials from the two ministries, as well as those from major shipbuilding and shipping companies, including HD Hyundai, Hanwha Group, HMM and Pan Ocean.

The alliance will work to devise a detailed strategy for developing cutting-edge technologies for the industries to maintain their global leadership. It also aims to help expand the production of flag carriers, secure orders for domestic shipbuilders and create a mutually beneficial industrial ecosystem that can benefit regional economies.

During the kick-off ceremony on Tuesday, three major shipbuilders, Korea Gas and the Korea Shipowners' Association signed a cooperation agreement on developing a stable liquefied natural gas (LNG) transportation system as part of efforts to stabilize Korea's LNG supply chains amid heightened global uncertainties.

The Industry and Oceans Ministries also agreed to bolster cooperation to better support balanced growth of the maritime sector, while joining hands for Korea's envisioned investment in the U.S. shipbuilding sector under the two countries' bilateral tariff agreement, according to the officials.

The two ministries have already been collaborating for the development of autonomous vessels, with an aim to begin a project for developing an artificial intelligence model for such vessels this year.

Yonhap