Busan Secures 10 Billion Won for Ship Equipment Certification Platform

Busan, South Korea – The city of Busan has successfully secured 10 billion won in national funding from the Ministry of Trade, Industry and Energy for its 'Integrated Performance Certification Platform for Ship Equipment' project. This initiative aims to enhance the maritime industry's competitiveness in response to evolving environmental regulations and technological advancements.

The project, which will run until 2028, will see a total investment of 20 billion won, with 10 billion won provided by the national government, 9 billion won from the city’s budget, and 1 billion won from private investment. Busan City collaborated with the Korea Marine Equipment Research Institute and the Korea Marine Equipment Association to formulate and submit the successful proposal.

Starting in June 2024, the project will focus on constructing the Integrated Performance Certification Center within the Mieum Industrial Complex in Gangseo-gu. This center will offer support for the development of new technologies, localization of components, and certification processes for SMEs in the maritime sector. By integrating the existing Marine Equipment Testing and Certification Center at the Noksan Industrial Complex, the new facility will create a unified testing and certification system for both traditional and smart eco-friendly ship equipment.

The new platform is expected to reduce testing and production costs for local businesses, making it easier for them to navigate domestic and international certification requirements. This cost reduction, coupled with improved access to global markets, is anticipated to enhance the export potential of Busan’s maritime industry.

Central to the project are the development and implementation of technologies such as the Integrated Full Electric Propulsion (IFEP) and Smart Navigation Communication System (SNCS). These advancements are expected to lead the next generation of maritime equipment, ensuring that Busan’s SMEs remain competitive in the global market.

Mayor Park Heong-joon expressed optimism about the project's impact, stating, "Through the 'Integrated Performance Certification Platform for Ship Equipment' project, we expect to enhance the competitiveness and productivity of our city's strategic maritime industry. We will continue to support our local SMEs in adapting to digital and eco-friendly trends, positioning Busan as a leading hub for smart maritime equipment."

The Integrated Performance Certification Platform for Ship Equipment represents a proactive approach to maintaining and enhancing Busan’s maritime industry amidst global changes. With substantial national funding and a clear implementation strategy, Busan is set to become a key player in the field of eco-friendly smart ship equipment, driving innovation and economic growth in the region.