Daewoo Shipbuilding and Marine Engineering and Changwon City in South Gyeongsang Province announced Tuesday that they signed a memorandum of understanding to share and transfer patented technology.

The MOU was a follow-up measure to a visit by DSME to Changwon in January at the request of Changwon’s Future Strategy Committee, when the two parties first agreed on a transfer of technology regarding liquefied natural gas-fueled ships, or LFS.

DSME will transfer technology to shipbuilding material suppliers in Changwon and award sales licenses. The company will also help the suppliers to acquire the capacity to produce LNG tanks, and work with the city to jointly develop advanced materials. 

The agreement is expected to help boost the competitiveness of shipbuilding material providers in Changwon. LFS technology is an eco-friendly and economical technology. LNG-fueled ships are a prime example of “green ships,” which produce fewer greenhouse gases.

Park Jay-hyun, first vice mayor of Changwon, thanked DSME at the MOU signing ceremony and asked that the company “provide full support to make this agreement the turning point for joint growth between large and small corporations, and the foundation for improving competitiveness in the regional shipbuilding industry.”

By Won Ho-jung (hjwon@heraldcorp.com)