South Korea Marine Tenders

Largest importer of seafood: With a thriving fishing industry and a love for seafood, South Korea is the world's largest importer, with an estimated value of $5.43 billion in 2019.
Global leader in shipbuilding: Korean shipyards dominate the industry, boasting giants like Hyundai Heavy Industries and Samsung Heavy Industries. They hold a 58% share of high-value-added ship orders.
Innovation at the helm: The marine R&D service market in South Korea is worth a staggering KRW 880 billion, showcasing its commitment to cutting-edge technologies.

South Korea Marine Government Procurement
Significant investments: The South Korean government heavily invests in its marine sector through government procurement projects. The total value of marine financing peaked at KRW 32.3 trillion in the early 2000s.
Focus on eco-friendly solutions: In line with global trends, the government prioritizes procurement of eco-friendly ships, with Korean shipyards winning over 50% of orders in the eco-friendly ship market.

Main Marine Products and Services Procured
Shipbuilding: Construction of new ships, including container ships, tankers, and LNG carriers.
Ship repair and maintenance: Upkeep and modernization of existing vessels.
Marine equipment and technology: Procurement of advanced navigation systems, safety equipment, and fuel-efficient engines.
Port infrastructure development: Construction and expansion of ports to accommodate growing trade volumes.

Top Authorities for South Korea Marine Procurement
Ministry of Oceans and Fisheries (MOF)
Korea Maritime and Port Administration (KMPA)
Public Procurement Service (PPS)

Top Winners of South Korea Marine Procurement Contracts
Hyundai Heavy Industries
Daewoo Shipbuilding & Marine Engineering
STX Offshore & Shipbuilding
Samsung Heavy Industries
POSCO

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