Special-Purpose Vessel and MRO Markets Opening... KOTRA Holds 'International Marine Safety Expo Export Consultation Meeting'

Collaboration with Incheon City and the Korea Coast Guard
Consultations Held with 20 Visiting Buyers

As demand for collaboration with Korean shipbuilders expands overseas beyond shipbuilding to include special-purpose vessels, performance improvement support (MRO), local joint construction, and technology cooperation, new opportunities have opened up to support the overseas expansion of domestic shipbuilding, marine, and ship safety equipment companies.

The Korea Trade-Investment Promotion Agency (KOTRA) announced that, in cooperation with the Korea Coast Guard and Incheon Tourism Organization, it held the "2026 International Marine Safety Expo Export Consultation Meeting" at Songdo Convensia in Incheon for two days starting June 17.

According to Clarkson Research, the Korean shipbuilding industry recorded a record-high export value of 31.8 billion dollars last year, thanks to a selective order strategy focused on high value-added and eco-friendly vessels such as LNG carriers and ammonia carriers. Last year, Korea accounted for 21% of the global shipbuilding order volume, and, in particular, accounted for 91% of global orders for LNG carriers, which are considered highly challenging vessels.

Recently, the Korean shipbuilding industry has been expanding into areas such as special-purpose vessel construction, MRO infrastructure development, and joint construction with foreign governments, moving toward strategic intergovernmental technology cooperation. As a result, there are growing opportunities for small and medium-sized manufacturers of ship safety and communication equipment, as well as shipbuilding, marine, and MRO-related equipment, to enter the global supply chain.

This consultation meeting, attended by over 30 Korean shipbuilding equipment manufacturers, was organized to extend the trickle-down effect of the Korean shipbuilding boom to equipment makers and to encourage joint overseas expansion by both large and smaller companies. Through technology cooperation, promising small and medium-sized enterprises were supported in entering the procurement value chain of global maritime security agencies.

Linked for the first time with the "International Marine Safety Expo"—the only maritime exhibition in the Seoul metropolitan area—this export consultation brought together 20 major buyers, including maritime security agencies from five countries such as Peru (emerging as a bridgehead in the Latin American shipbuilding and defense market), Thailand, and Malaysia.

The visiting agencies and buyers held export consultations over two days with 12 promising domestic companies, including participating exhibitors. During the event, the "KOTRA-HD Hyundai Heavy Industries Shipbuilding & Marine Partnership Seminar" provided domestic companies with strategies and business opportunities for entering the Latin American market through global projects.

The CEO of Company A, a manufacturer of ship communication equipment who participated in the meeting, stated, "I could feel the keen interest of overseas buyers in Korean-made equipment right at the venue," and added, "Since we were able to demonstrate our products directly to procurement officials from foreign governments and security agencies—who are difficult to meet independently as a small business—and secure follow-up meetings, we expect to see tangible export results soon."

On the second day of the event, June 18, representatives from visiting maritime security agencies and buyers visited the International Marine Safety Expo exhibition hall, watched demonstrations of promising products, and participated in technical Q&A sessions, directly verifying the excellence of Korean shipbuilding and marine equipment and safety devices on site.

Kim Kwanmook, Executive Vice President and Head of Economic and Trade Cooperation Division at KOTRA, said, "KOTRA will identify the needs of government agencies and buyers for each target market and support small and medium-sized enterprises to ensure the export benefits of Korean shipbuilding extend to equipment manufacturers as well."

KOTRA Headquarters Exterior. KOTRA

This content was produced with the assistance of AI translation services.