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Gov't unveils measures to revitalize sluggish shipbuilding industry

2018-11-22 1 Dailymotion

중소 조선사에 140척 발주...1조 7천억 금융지원<br /><br />Seoul's prime minister convened his weekly meeting with the heads of various ministries including trade and finance.<br />The participants unveiled measures designed to revitalize the nation's sluggish shipbuilding sector.<br />Choi Si-young outlines what they are. <br />At the Prime Minister's weekly ministerial meeting, the ministries present announced new measures to assist the struggling shipbuilding industry.<br />These measures include placing large ship orders, and providing capital and R&D assistance.<br />The government will place orders for 140 Liquefied Natural Gas or LNG-powered ship from small and medium-sized shipbuilders by 2025.<br />The orders will inject cash into struggling firms and allow them to strengthen expertise in LNG-powered shipbuilding technology,... which will help them gain a foothold in the market.<br />LNG-powered carriers are in demand worldwide because they emit less CO2 and have lower fuel costs.<br />The government will also extend the maturity date on their roughly 800-million U.S. dollars of loans to the industry, and it will keep providing tax breaks to the shipbuilding industry until June next year.<br />It will also make it easier for government credit agencies to provide capital assistance to exporting shipbuilders.<br />The government will also provide the shipbuilders with around 900 million U.S. dollars to help develop next generation hydrogen carriers and operating systems for autonomous or unmanned ships.<br />Hydrogen carriers emit almost no pollutants and autonomous carriers enhance the efficiency of cargo handling.<br />The government aims to help the country's shipbuilders to take the lead in the market for next generation vessels.<br />Choi Si-young, Arirang News. <br />

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