Sailing Together Towards a Stronger Shipbuilding Future

South Korea’s KOMEA Proposes Joint Modernisation of Indian Shipyard. 

 The Korea Marine Equipment Association (KOMEA), under South Korea’s Ministry of Industry, Trade and Energy, has proposed a joint project to modernise an Indian shipyard for building small-sized vessels. This initiative aims to strengthen India’s shipbuilding capabilities, a key step toward its goal of entering the world’s top 10 shipbuilding nations by 2030 and top 5 by 2047. KOMEA, established in 1980, represents 304 marine equipment manufacturers and major shipbuilders like HD Hyundai Heavy Industries, Hanwa Ocean, and Samsung Heavy Industries. The association brings extensive expertise in shipyard design, development, and global marine technology. With existing bases in eight countries, KOMEA sees India as a strategic partner within the framework of bilateral cooperation. Upgrading infrastructure is crucial for India, which currently holds less than 1% of the global shipbuilding market. This collaboration could pave the way for sustainable growth and greater competitiveness in the global maritime industry.