KRISO-Avikus-KT MOU for Leading the Future of the Global Maritime Industry

□ The Korea Research Institute of Ships and Ocean engineering (President Booki, Kim), Avikus and KT announced their signing of a MOU for entering the global market in next generation maritime information services and navigation equipment on July 28th. The signing ceremony was held in the KRISO office.

□ Under this MOU, the three organizations will cooperate on ▲opening up the global market for next generation maritime information services and navigation equipment, ▲ R&D of source technology related to next generation maritime information services and navigation equipment, as well as testbed construction and utilization, ▲ R&D of standard technology related to next generation maritime information services and navigation equipment, and ▲ R&D of AI and IT platforms to build maritime IT ecosytem capacities and support the global market entry of relevant companies.

□ According to a report by global research firm TechNavio, the market for maritime digital technology will show high growth of up to 9% a year until 2024, with active digital conversions and introduction of AI technology such as smart ports and autonomous sailing taking place across the maritime industry.

□ Under this MOU, the three partners will cooperate in fields such as 5G, IoT, big data and autonomous sailing to drive digital conversion in the domestic and international maritime information services and navigation equipment market.

□ KRISO President Booki, Kim commented, “KRISO has been leading the development and standardization of innovative technologies in maritime information services and navigation support systems with technologies such as the Korean e-Navigation service," adding, ”KRISO will draw on its accumulated achievements to cooperate with and support Korean companies in the digital conversion of the maritime sector."

□ Meanwhile, the MOU signing ceremony was held in compliance with COVID-19 guidelines, with the number of participants kept to a minimum.