South Korea is prepared to invest $130 Million (160 Billion Won) for their autonomous-ship project, which looks to increase their position in the smart shipping industry with goals to achieve 50% global market share by the year 2030

The project aims to innovate key-tech in navigation, engine automation, and the construction of an autonomous-ship performance centre.

When built, the ships should be capable of controlling engine room for collision prevention, situational awareness and decision making as they’ll be implemented with large data and artificial intelligence to carry these tasks out.

Industry and Ocean Ministry have announced that they’ve passed the preliminary stages therefore ready to carry out demonstrations for successful pursue of international cooperation with Norway.

Funds will be deployed over six years, where the government has made ready 119 Billion Won and the remaining funds will be delegated privately by shipbuilders, such as Hyundai Heavy, Daewoo Shipbuilding, and Samsung Heavy industries.

This is an article shared by the Marketing Team at ICAV Cluster.

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