Kormarine 2023
From Oct. 24 to 27, 2023, NMT will again organize an NL Pavilion at Kormarine at the Bexco exhibition center in Busan. Sign up
Organizer
Evy Menheere
Trade Promotion Manager
+31(0) 88 44 51 014
menheere@maritimetechnology.nl
Registration
At this time there is still 1 booth available. In case of multiple registrations, a waiting list will be created.
Kormarine
An excellent place to exchange ideas, network and get inspired. Kormarine is Korea's leading biennial trade fair in Shipbuilding, Marine (Naval & Defense), Offshore and Oil & Gas.
In 2019, a total of 835 exhibitors from 45 countries participated and attracted a total of 38,253 visitors. There were 14 official country pavilions present from countries including China, Finland, Germany, Norway, Denmark, Austria, Japan, U.K, South Korea, Singapore, Taiwan, Switzerland, Greece and the Netherlands.
Market Information
South Korea is a major shipbuilding country and has the largest order book regarding commercial ocean-going vessels after China. South Korea is very strong in the construction of (complex) tankers (LNG, crude oil, chemical) but bulkers and container ships are also built. In addition, there are a number of South Korean yards active in the offshore segment with the construction of FPSOs, drill ships and wind ships. After the financial crisis in 2008-09, the number of commercial marine vessel deliveries stabilized around 10 million Compensated Gross Tonnage (CGT) per year. About 45% of the deliveries involved LNG carriers. After a low point in order intake in 2016, order levels rebounded. Since 2021, the order level has returned to unprecedented levels. 421 new orders for commercial marine vessels totaling 17.7 million CGT have been registered. 93% of the new orders have been placed with the three largest shipbuilders (HHI, Samsung HI and DSME), in terms of CGT.
The Korean government is very involved in the maritime sector, especially with medium and small-sized shipyards. A significant number of yards depend to some extent on GOK support, especially for R&D. The Korean government and shipbuilders want to use local suppliers as much as possible. Still, there are opportunities for Dutch suppliers and knowledge institutes, for example by creating a win-win situation. Dutch companies can capitalize on areas where Korean companies lag technologically, mainly in the areas of sustainability, emissions, digitalization of systems and autonomous sailing. Medium-sized and small Korean shipyards, compared to HHI, SHI and DSME, have less technological knowledge in-house and can use outside help. However, the three largest shipbuilders (HHI, SHI & DSME) in Korea have sufficient own resources for their own R&D programs and are mainly interested in foreign technology if the price is low and it adds more value compared to the local supplier's products. Also, local presence is very important when doing business in Korea.
For more information on the shipbuilding market in South Korea, please request the following reports (all for NMT members):
- SEA MM REPORT No. 53 Full Year 2021
- Korea NL Maritime Sector Report 2020 (market overview and opportunities).
- Participation includes
- Stand construction including display of your company logo and name
- Stand inventory, electricity and lighting
- Joint central lounge with catering (including lunch)
- NL network reception
- Offer NMT travel and transport arrangements
- Joint PR
- WiFi available in the NL Pavilion
- Support from NMT
- More information
For more information, please contact Evy Menheere, Trade Promotion Manager at NMT at T 088 44 51 014 or E menheere@maritimetechnology.nl
Convinced? Then sign up
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