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Korea to invest $200m in e-navigation

The government of South Korea has unveiled plans to invest heavily in e-Navigation, with approximately $200 million earmarked for related projects under the new strategy.

The initiative was announced by the country’s Ministry of Ocean and Fisheries, which said it aims to foster development in new markets and create employment, while increasing maritime security and safety.

The Ministry says that Korea’s e-Navigation strategy will aim to comply with international maritime safety and security standards in commercial shipping but will also include services specifically developed for the Korean coastal environment, including measures covering fishing boats and small sized ships.

Government backing is seen as critical in supporting the early stage technological research and development that will be required by the project, and in ensuring the provision of supporting systems and the construction of necessary infrastructure.

As a mark of its commitment to the success of the project the Korean government has pledged KRW 210 billion (approximately $200 million) between 2015 and 2020 to support these initiatives.

Lim Hyun-churl, the assistant minister for maritime affairs and safety policy bureau at the ministry, said that the project aims to build on Korea’s existing achievements in maritime IT, noting that the country already has “world-class expertise in shipbuilding, and marine shipping and information and communications technology that are considered essential to develop e-Navigation.”

Korea’s e-Navigation project was proposed to IMO’s NAV committee meeting in September, and the government says that it intends to sign an MOU with Sweden and Denmark backing the implementation of a demonstration project.

In addition, the Korean government says it is planning to propose the establishment of an international body for global collaboration on e-Navigational operation based in Korea.

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