The Korea Energy Technology Institute (KENTECH) announced that Professor Cho Suk-kyung has been elected as the first Asian president of the Public Communication of Science and Technology (PCST) Global Network.The PCST Global Network, the world's largest academic association in the field of scien
The Ministry of Oceans and Fisheries is analyzing Russia’s North Pole Route development plan approved in August last year. The Russian government is planning to invest 1.8 trillion rubles (US$24 billion) for 12 years to come so that Europe and Asia can become more closely connected via the route.The
Korea Gas Corp. (KOGAS) announced on March 16 that it has chartered the LNG bunkering ship K. Lotus from Hyundai Mipo Dockyard and rented it to Shell, a global energy giant.An LNG bunkering ship supplies fuel at sea for LNG-powered ships. KOGAS and SM Korea Line won a bunkering ship charter contract
HMM announced on Jan. 27 it will deploy its first extra loader on the Korea-Europe route on Jan. 31 to help Korean companies ship their export products on schedule.The shipping company has recently deployed its 9th extra loader on the Korea-U.S. route.The extra loader to be deployed this time is "HM
Samsung SDS is stepping up efforts to introduce its self-developed blockchain platform NexLedger Universal to overseas markets. The platform features high processing speed and strong compatibility and is being applied to all business areas including finance and logistics. Currently, it is being used
Samsung SDS announced on Oct. 9 that it has been named as Korea’s representative blockchain operator by Forrester, a global information technology (IT) advisory group.Forrester picked out Korea's Samsung SDS, China's JD Cloud, Japan's NTT Data, and Thailand's IBM as the representativ
SK Engineering & Construction (SK E&C) has become the first Korean builder to enter the Western European propane dehydrogenation (PDH) plant market by winning a front end engineering design (FEED) project for a PDH plant in Belgium.SK E&C announced on June 18 that it has signed a FEED contract with
Samsung SDS has unveiled a platform that connects Ethereum, a leading open blockchain platform, and Hyperledger Fabric, a representative closed (private) blockchain platform.The company introduced the “Deliver” platform, the first of its kind, at Cello Conference 2019, which was an event for logisti
Iran’s Dayyani group started a procedure to seize the South Korean government’s assets in the Netherlands after winning its investor-state dispute (ISD) against it. This is the first time that such a procedure has been initiated against the South Korean government.The Financial Services Commission (
Samsung SDS has entered the European maritime logistics market based on a blockchain platform.Samsung SDS announced on October 21 that the company signed an agreement on a maritime logistics project based on blockchain technology with ABN AMRO, one of the three largest banks in the Netherlands, and
According to the maritime industry and Chosun Biz on March 26, Hyundai Merchant Marine (HMM) decided to stop negotiations for route services to the east coast of North America with Israeli shipping company ZIM, and accordingly there will be no national flag carrier to provide the services for a whil
Hyundai Merchant Marine will launch a new service to Europe from Asia. It is analyzed by some experts that the Korean shipping company’s cargoes to Europe were separated from services of 2M, a strategic alliance, showing its move for independence.On February 28, Hyundai Merchant Marine announced tha
Asian and European economic ministers resolved to jointly respond to growing global protectionism.The Ministry of Trade, Industry and Energy announced that representatives of 51 member countries adopted the Joint Statement on Supporting the Multilateral Trade System with the above-mentioned contents
According to the International Maritime Organization, the content of sulfur oxide in fuel oil for ships has to be 0.5% or less from 2020 onwards. At present, the maximum allowable content is 3.5%. Under the circumstances, European countries, the United States and Singapore are bringing in an increas
The Ministry of Oceans & Fisheries and the Ministry of Trade, Industry & Energy had a meeting on November 16 and released a plan to promote the development and use of LNG-fueled ships. This is a part of the plan to strengthen shipping and shipbuilding industries announced October 31. It also has to
South Korean President Park Geun-hye and Ólafur Ragnar Grímsson, president of Iceland, held a summit meeting on Nov. 9 and agreed on closer cooperation for the development of a “North Pole Route” and the establishment of an inter-governmental policy council. Scheduled to be set up next year, the cou
Hyundai Merchant Marine has finished constructing a container terminal of Rotterdam World Gateway (RWG) at the port of Rotterdam, Europe's largest sea port. The terminal cost US$1 billion (1.19 trillion won) to develop, and 20 percent of its shares are owned by Hyundai Merchant Marine.The compan