Korea to create a 'Global Smart Port' with home-grown technology

[Smart City Today]

The Ministry of Oceans and Fisheries (Minister Cho Seung-hwan) established a strategy to foster the smart port technology industry and expand the market. It announced that the plan was confirmed at the 'Ministerial Meeting on State Affairs and Issues' presided over by the Prime Minister.

The smart port technology is a core system that manufactures and manages the ship's cargo, transport equipment to the yard, yard crane, port operation system and analysis software, and wired and wireless communication network, and is a key component of the port terminal along with docks and operating personnel.

The smartization of ports is being accelerated due to the expansion of digital transformation through the 4th Industrial Revolution technology worldwide. The government is also pushing to build smart ports in Busan and Gwangyang Port to strengthen the global competitiveness of the shipping and port logistics industries. However, the domestic base of the smart port technology industry is relatively weak compared to other advanced countries.

In response, the Ministry of Oceans and Fisheries prepared a "smart port technology industry development and market expansion strategy" with related ministries, including three strategies and nineteen tasks the implementation: ① securing a world-class technology base, ② securing a domestic and foreign port technology market, and ③ upgrading the industry development system.

The strategy, which is included in the New Growth 4.0 strategy, aims to create a global smart port by Korean companies. It aims to double the size of Korea's port technology industry over the next five years (1.2 trillion won) and eight times (3.9 trillion won) over the next five years ('27~'31) by achieving 90% domestic market share and 10% global market share by 2031.

Minister of Oceans and Fisheries Cho Seung-hwan said, "This strategy is the first comprehensive government policy to foster the smart port technology industry and must be pursued to secure logistics security and foster new growth engines. We will do our best to lead not only for Korean ports but also for global smart ports worldwide."