South Korea Increases Funding For Shipbuilding Technologies

The South Korean government will provide 320 billion won (US$221.4 million) this year to support projects developing cutting-edge shipbuilding technologies, the Ministry of Trade, Industry and Resources said Feb. 24. The 23% increase from 2025 targets eco-friendly fuels, AI-equipped ships and smart shipyards, and SME support, aiming to sustain Korea's global leadership after record $31.8 billion ship exports in 2025.