South Korea invests record $1.8 billion to dominate next-gen shipbuilding

South Korea announced on Tuesday a record $1.8 billion (2.6 trillion won) investment in its shipbuilding sector — a 40% increase from last year — to strengthen its lead in green and digital ship technologies. The funding will focus on eco-friendly ships (1.7 trillion won), digital transformation of shipyards (700 billion won) and autonomous vessels (200 billion won). New R&D projects include ammonia-powered ships, electric propulsion systems, wind-assisted technology and AI-driven welding robots.