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Source: Tech in Asia

South Korea is set to modernise its shipping industry with a substantial investment of 31 billion won (US$22.7 million) into smart port technologies by 2028. The Ministry of Oceans and Fisheries announced that the funding will be directed towards developing advanced, automated systems to enhance efficiency and maintain competitiveness in the global maritime sector.

This strategic investment follows the global trend of port automation, aiming to keep South Korea at the forefront of shipping innovation. The primary focus of this investment will be on the creation of automated cargo handling equipment and a fleet of unmanned vehicles for transporting goods within port facilities.

This initiative is a continuation of South Korea's push towards greater automation, which saw the launch of a fully automated terminal in Busan last year. By embracing these technologies, the country aims to streamline operations, reduce human error, and improve overall productivity in its bustling ports.

This move is part of a larger global race, with the smart port market projected to grow exponentially from US$4.19 billion in 2024 to over US$39.34 billion by 2034.

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